DB Securities Posts 24.2 Billion KRW Operating Profit in Q1... Maintains Solid Profitability

DB Securities (CEO Kwak Bongseok) announced on May 15 that it recorded a consolidated operating profit of 24.2 billion KRW and a net profit of 20.6 billion KRW for the first quarter of this year. These figures represent decreases of 6.1% and 5.8%, respectively, compared to the same period last year, but increases of 156.7% and 153.8%, respectively, compared to the previous quarter. The company is assessed to have ample potential for further performance growth, as the core business divisions such as IB and S&T continue to show solid profitability, real estate risk is stabilizing, and subsidiary performance is also improving.

The company explained that, despite a challenging business environment due to sluggish real economic conditions and increased volatility from domestic and international political issues, all business divisions have continued to grow evenly, maintaining stable performance momentum.

In particular, the IB division maintained robust profit flows centered on corporate finance, despite the downturn in the real estate market and a contraction in new deals. The S&T division also supported overall performance by flexibly responding to increased market volatility and achieving strong results in bond management. In addition, the subsidiaries have returned to a recovery trend, positively impacting consolidated results and raising expectations for further improvement in performance going forward.

A DB Securities representative stated, "We are continuously strengthening PIB-linked operations, which is a key strategy for the company, and we expect ongoing performance growth through the pursuit of large-scale deals in the IB division and the realization of results in the PI division," adding, "The low likelihood of additional provisions related to PF is also a positive factor for performance stability."

Meanwhile, at the beginning of this year, DB Securities successfully completed the repurchase of 500,000 shares of treasury stock and the implementation of an employee stock ownership support program. Following a shareholder return rate of 43% in 2024, the company plans to continue its efforts to enhance corporate value and expand shareholder returns this year as well, based on stable performance achievements.