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Brokerages' Q3 profit rises 19.3 pct on robust gain in commission fees

All News 12:00 December 07, 2020

SEOUL, Dec. 7 (Yonhap) -- South Korean brokerage firms saw their combined net profit rise 19.3 percent in the third quarter from three months earlier due mainly to a robust gain in commission fees, data showed Monday.

The combined net profit of 56 brokerages stood at 2.16 trillion won (US$1.9 billion) in the July-September period, compared with 1.81 trillion won, according to the data from the Financial Supervisory Service.

The combined brokerage fees stood at 3.7 trillion won in the third quarter, compared with 3.2 trillion won in the second quarter.

The brokerages posted a combined profit of 11.9 billion won in derivative-related products in the third quarter, compared with a loss of 1.2 trillion won in the second quarter.

At the end of September, the combined assets of 56 brokerages stood at 597.2 trillion won, up 0.7 percent from the end of June, according to the data.

This composite image shows South Korean brokerage firms. (Yonhap)

kdh@yna.co.kr
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