NH Investment & Securities上半年归母净利润9652亿韩元创历史新高

NH Investment & Securities (005940.KS) posted a net profit of nearly 1 trillion won in the first half of this year, driven by higher stock trading volume and qualitative growth in its financial product sales division.
In a preliminary earnings disclosure on the 23rd, NH Investment & Securities said it recorded a cumulative net profit of 965.2 billion won attributable to controlling shareholders in the first half, its largest half-year results since its founding. First-half net profit rose 107.6% from a year earlier. Operating profit increased 115.7% to 1.3179 trillion won. The annualized return on equity (ROE) stood at 19%.
Growth was also solid on a quarterly basis. NH Investment & Securities' second-quarter operating profit and net profit attributable to controlling shareholders came to 681.2 billion won and 489.6 billion won, respectively, in line with the consensus estimate over the past month. The figures represent increases of 111.6% and 90.7% from a year earlier. Compared with the first quarter, they rose 7% and 2.9%, respectively.
The biggest factor behind NH Investment & Securities' record results was that its market share improved 0.7 percentage point from 10.7% in the first quarter to 11.4% in the second quarter, amid a sharp increase in domestic stock trading volume. Fee income from the brokerage division reached a cumulative 795 billion won in the first half, up 211.7% from a year earlier.
The financial product sales division also showed notable improvement. Fee income from financial product sales reached a cumulative 125.9 billion won in the first half, up 127.2% from a year earlier. In particular, sales of "target-conversion wraps" tailored to the domestic stock market's upward trend rose sharply, lifting second-quarter wealth management fees by 171.8% from the previous quarter. In addition, the investment banking (IB) division reaffirmed its solid competitiveness, ranking first in initial public offering (IPO) underwriting (based on underwriting value) and first in lead underwriting of financial bonds (FB) in the first half.
"What draws more attention than achieving record results in the first half is the qualitative change in our revenue structure," said Shin Jae-wook, CEO of NH Investment & Securities. "Not only brokerage but also financial product sales fees more than doubled from a year earlier, and we are firmly maintaining our leadership in the IB business, our traditional strength."