Brokerages emerge as profit engines for financial groups

Securities firms under major financial holding groups emerged as key profit drivers in the first quarter, posting strong earnings on the back of a stock market rally. Brokerage units of South Korea's five largest financial groups reported a combined net profit of 1.23 trillion won ($836 million), up 132.3 percent from 529 billion won in the previous quarter. NH Investment & Securities led with 475.7 billion won in net profit, followed by KB Securities with 347.8 billion won and Shinhan Investmen

By The Korea Herald