Hanyang Securities’ Q1 operating profit tops $15mn

[Courtesy of Hanyang Securities Co.]

South Korea’s Hanyang Securities Co. reported on Thursday that its operating profit for the first quarter of 2024 was 19.6 billion won (14.53 million), up 22.1 percent from the same period a year ago.

Sales totaled 192.9 billion won in the January to March period and net profit was 13.4 billion won, up 23.3 percent on year. The annualized return on equity (ROE) stood at 10.84 percent.

Observers noted that the company had a smooth start to the year after Chief Executive Officer Im Jae-taek‘s fourth consecutive term was confirmed in March 2024. The company’s strong performances in the bond, asset management, and investment banking (IB) segments also contributed to the good results.

The bond segment responded effectively to interest rate volatility, enhancing profitability, while the asset management segment generated profits through strategies suited to market conditions. Hanyang Securities also expects to improve its performance in the project financing (PF) segment.