Six foreign securities firms — JPMorgan, Goldman Sachs, Merrill Lynch, UBS Securities, Morgan Stanley and Citigroup Global Markets — recorded combined net profit of KRW 630.5 billion in South Korea’s stock market in the second quarter, according to data released by the Korea Financial Investment Association. That figure was roughly $450 million, up 213.8% from a year earlier and 133.3% from the previous quarter. Operating profit for the group reached KRW 828.9 billion, a 220.7% year-on-year increase. JPMorgan led the six firms with KRW 204.5 billion in quarterly net profit, or about $147 million. Goldman Sachs posted KRW 137.1 billion, Merrill Lynch KRW 98.2 billion, and UBS Securities KRW 77.2 billion. Morgan Stanley and Citigroup Global Markets reported KRW 59.9 billion and KRW 53.6 billion, respectively. For comparison, net profit at 10 major South Korean brokerages rose 141% year on year and 37% quarter on quarter in the same period. The figures were published by the Korea Financial Investment Association and cited by Econovill.
Six foreign securities firms — JPMorgan, Goldman Sachs, Merrill Lynch, UBS Securities, Morgan Stanley and Citigroup Global Markets — posted combined net profit of KRW 630.5 billion in South Korea’s stock market in the second quarter, according to data released by the Korea Financial Investment Association.
That was about $450 million, with net profit up 213.8% from a year earlier and 133.3% from the previous quarter. Operating profit reached KRW 828.9 billion, rising 220.7% year on year.
JPMorgan ranked first among the six firms
JPMorgan delivered the strongest result in the group, reporting second-quarter net profit of KRW 204.5 billion, or about $147 million, the highest among the six foreign brokerages.
Goldman Sachs recorded KRW 137.1 billion in net profit, followed by Merrill Lynch with KRW 98.2 billion and UBS Securities with KRW 77.2 billion. Morgan Stanley and Citigroup Global Markets posted KRW 59.9 billion and KRW 53.6 billion, respectively.
Growth outpaced major domestic brokerages
By comparison, net profit at 10 major South Korean brokerages rose 141% year on year and 37% from the previous quarter in the second quarter.
The figures were published by the Korea Financial Investment Association and cited by Econovill.
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