韩国投资控股发布上半年财报，净利同比增长91.57%，并超出市场预期

Korea Investment Holdings posted record earnings in the first half, driven by a booming domestic stock market. Korea Investment & Securities showed sharp growth in its brokerage and wealth management (WM) segments, while non-securities affiliates also delivered strong results, pushing first-half net profit close to 2 trillion won—nearly matching its total profit for last year.
Korea Investment Holdings said on the 6th that its consolidated net profit for the first half rose 91.57% to 1.915 trillion won. Operating profit over the same period increased 119.74% to 2.4505 trillion won. Second-quarter net profit came in at 916.7 billion won and operating profit at 1.3442 trillion won, both surpassing the market consensus of 797 billion won and 1.0519 trillion won, respectively—an "earnings surprise." First-half return on equity (ROE) stood at 29.6%, up 9.7 percentage points from a year earlier, marking industry-leading profitability.
Korea Investment & Securities, the core affiliate, posted first-half net profit of 1.7311 trillion won, up 68.8% from a year earlier. Buoyed by the buoyant stock market, second-quarter average daily trading volume surged 406.2% year-on-year to 28.65 trillion won, while brokerage fee income also rose 239.1% to 452.4 billion won. Its domestic stock market share climbed 2 percentage points to 12.11%.
In the WM segment, the balance of individual financial products increased by about 3.3 trillion won each month during the first half, reaching 105 trillion won as of the end of June. Strong sales of promissory notes, integrated management accounts (IMA), and beneficiary certificates lifted fee income by 106.8%. The investment banking (IB) segment left something to be desired, with second-quarter revenue falling 10.5% from the first quarter and 7.1% year-on-year amid a shrinking market, but it ranked first in the equity capital market (ECM), rights offering, and domestic bond underwriting league tables for the first half.
Korea Investment & Securities' shareholders' equity on a separate basis also grew by more than 2 trillion won, from 11.1623 trillion won at the end of last year to 13.1922 trillion won. Backed by capital strength among the largest in Korea's securities industry, the firm is managing 22.47 trillion won in promissory notes and 2.94 trillion won in IMA funds.
Non-securities affiliates also made strides. Korea Investment Savings Bank posted first-half net profit of 159.5 billion won, up 589.2% from a year earlier, on improved net interest margins and eased provisioning burdens. Korea Investment Value Asset Management also saw net profit rise 175.5% on higher valuation gains from its holdings, while Korea Investment Capital and Korea Investment Trust Management supported the group's earnings improvement with net profit gains of 58.0% and 54.0%, respectively.
"We are maintaining stable growth based on a balanced revenue structure that is not swayed by any particular business segment or market conditions," a Korea Investment & Securities official said. "Through risk management, we will respond to a highly volatile market environment and grow into a global-level financial investment company."