Hana Securities posts 283.4 billion won in cumulative net profit through Q3, up 67.1% year on year

[Financial News] Hana Securities has earned nearly 300 billion won in net profit from the start of the year through the third quarter.
Hana Securities said on the 23rd that it recorded cumulative net income of 283.4 billion won and operating profit of 366.4 billion won for the first three quarters of this year. Those figures were up 67.1% and 98.9%, respectively, from the same period a year earlier.
However, results declined when looking at the third quarter alone. Net income for the quarter was 10.1 billion won, down 83.9% from a year earlier. Operating profit fell 67.8% year on year to 21.1 billion won.
Declines in asset-management results amid rising interest rates and in market trading value appear to have had an impact.
By division, Wealth Management (WM) saw fee income decline as market trading value fell. The Investment Banking (IB) division said it had taken a conservative approach to managing assets while focusing its capabilities on expanding related results, including acquisition financing based on the group's “One-IB” framework.
Sales and Trading (S&T) was affected by rising interest rates in its bond management gains and losses, but saw growth in areas such as corporate sales and its Delta One business.
A Hana Securities representative said, “We are maintaining a conservative management stance in response to rising interest rates and focusing on securing new growth drivers.”

[email protected] Seo Min-ji Reporter