Korea brokerages

Korean brokerages declare ambiguous profitability

Korean securities firms enjoy a surge in earnings growth, but worries about their financial soundness are hindering industry consolidation.

Korea’s brokerage firms are a conundrum Most of them have just posted substantial quarterly profit increases, yet most are also insufficiently secure, according to a key ratio monitored by the country’s financial regulator Both features might be preventing the consolidation urged by the authorities in order to create world-challenging, domestic investment banks

Securities firms operating in Korea enjoyed a jump of 74 7% in their fiscal year first-quarter earnings from a year earlier, said the Financial Supervisory Service (FSS) on Tuesday Higher profits were driven by a pick-up in bond-related fees and brokerage commissions

The combined net profit of 62 local and foreign securities firms amounted to W793 2 billion ($736 1 million) in the...

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