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Brokerages' Q3 profit slips 23.1 pct on sluggish commissions

All Headlines 12:00 December 04, 2018

SEOUL, Dec. 4 (Yonhap) -- South Korean securities companies saw their combined net profit drop in the third quarter of this year, due to a drop in brokering commissions, data showed Tuesday.

The combined net profit of 55 brokerages stood at 957.6 billion won (US$862.7 million) in the July-September, down 23.1 percent from a quarter ago, according to the data from the Financial Supervisory Service.

Brokerages' Q3 profit slips 23.1 pct on sluggish commissions - 1

Brokerage commission fees tumbled 20.3 percent on quarter to 2.1 trillion won in the third quarter.

The securities firms saw their combined return on equity in the third quarter rise 0.9 percentage point to 6.8 percent.

At the end of September, the combined assets of 55 brokerages stood at 449.3 trillion won, up 0.4 percent from a quarter earlier, according to the data.
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