Toss Securities reports Q3 OP surge

Toss Securities CI

Toss Securities announced on Thursday that its 2024 third-quarter operating profit surged to 29.6 billion won ($21 million), over eight times the 3.6 billion won reported for the same period during the previous year. Revenue came to 119.9 billion won, up 118 percent compared to 55 billion won a year ago, while net profit rose sharply to 32.4 billion won, an 833 percent jump.

The company’s cumulative operating profit for the third quarter of 2024 stood at 60.2 billion won, surpassing its annual target of 30 billion won.

According to Toss Securities, growth in overseas stock brokerage services, which began in 2023, played a key role in improving overall performance. Overseas stock trading commission revenue in the third quarter increased by 165 percent compared to 2023, while foreign exchange commission income, linked to higher trading volume, rose by 133 percent on-year, further contributing to profit growth.

CEO Kim Gyu-bin of Toss Securities said that the company is expanding its reach in overseas stock trading, attracting a diverse customer base beyond those in their 20s and 30s. He expressed expectations for continued performance improvement driven by customer satisfaction into the second half of 2024.