iM Securities posts W27.3b net profit in Q3, up 10% on-year

iM Securities announced Tuesday that it posted operating profit of 33.8 billion won ($25.6 million) on a standalone basis in the third quarter of this year, up 6 percent from the same period last year.

Net profit for the period came to 27.3 billion won, a 10.4 percent increase year on year.

The earnings growth was driven by expanded revenue in the investment banking and project financing segment, fueled by continued growth in real estate project financing, as well as higher revenue from new business lines such as capital markets.

Financial soundness also improved following a capital build-up. The net operating capital ratio stood at 528 percent at the end of the third quarter, a sharp improvement from 401.9 percent at the end of last year.

During the third quarter, iM Securities established new business units — including an infrastructure finance division — to diversify its revenue sources. The company also pursued active asset allocation to navigate volatile market conditions while working to expand and stabilize revenue from its new business lines.

"We will continue to seek growth in our earnings base, underpinned by rigorous risk management," a company official said.

iM Securities is also recruiting new employees to support its continued growth and future vision, with openings in retail sales and IT. Applications are being accepted through the company's recruitment website until Nov. 8.