 |
[Alpha Biz=(Chicago) Reporter Paul Lee] Domestic securities firms' net profit in the third quarter of this year fell due to weak investment banking (IB) business and valuation losses related to real estate exposure (risk exposure), a report showed.
According to the "2023 Securities and Futures Company Business Performance" released by the Financial Supervisory Service on the 1st, the net profit of 60 domestic securities firms in the third quarter was 895.9 billion won, down 14.4% (150.7 billion won) from 1.46 trillion won in the previous quarter.
By major items, commission income in the third quarter was 3.1484 trillion won, down 133.3 billion won (3.2%) from 3.2517 trillion won in the previous quarter.
Trust fees rose 47.3 billion won from the previous quarter (1.49 trillion won) to 1.5381 trillion won due to an increase in stock transactions.
Commissions in the IB sector fell 125 billion won (12.8%) from 976.1 billion won in the previous quarter to 851.1 billion won due to the sluggish real estate market.
The asset management sector fee was 294.7 billion won, up 5.3 billion won (1.8%) from the previous quarter (289.4 billion won) due to increased investment commission fees and trust fees.
Profits and losses from self-sale in the third quarter were 1.9859 trillion won, similar to the previous quarter (1.9769 trillion won).
Other gains and losses fell 31.1 billion won (3.7%) to 82.9 billion won from the previous quarter (834 billion won) due to a drop in foreign exchange-related gains and losses.
As of the end of the third quarter, the total assets of securities firms stood at 682.2 trillion won, down 9.5 trillion won (1.4 percent) from 691.7 trillion won in the previous quarter.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
