Samsung Securities was South Korea’s largest distributor in the first half of this year, but its net profit dropped from the previous year due to its sluggish brokerage business as well as revenue raised from sales of structured products.
Samsung Securities’ net income stood at KRW213.4 billion (US$176 million) in the first six months of this year, down eight percent from a year ago, according to its quarterly earnings report. The drop mainly stems from the securities and brokerage house’s sluggish revenue raised from brokerage fees and sales of financial products, including structured notes. The revenue raised from selling financial products came in at KRW98.4 billion in the first half, declining 36% from the same p
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