Hana Securities posts W345.3b operating profit in H1, up 191% on stock market boom

Hana Securities said Friday it posted consolidated operating profit of 345.3 billion won ($235 million) and net profit for the period of 273.1 billion won in the first half of this year.

Operating profit surged 190.6 percent from the same period a year earlier, while net profit for the period rose 155.7 percent.

Second-quarter operating profit reached 203.7 billion won, up 43.8 percent from 141.6 billion won in the first quarter. Net profit for the period also climbed 64.4 percent quarter-on-quarter to 169.8 billion won, from 103.3 billion won in the first quarter.

The wealth management division benefited from higher brokerage fee income driven by increased stock market trading volume, as well as expanded product sales revenue.

The investment banking division focused on high-quality deals in areas including acquisition financing and real estate, securing stable earnings.

The sales and trading division staged an earnings rebound through proactive risk management in response to geopolitical risks at the start of the year, along with portfolio management via strategic asset allocation.

"Sustained structural improvements across all business divisions have expanded profitability and secured a stable growth engine," a Hana Securities official said. "In the third quarter, we will deliver new investment experiences, including the commercialization of a foreign investor platform and the launch of a new MTS."