Kiwoom Securities (039490) Q3 2025 earnings summary

Executive summary

• Net revenue for 3Q25 reached KRW 519 billion, up 30.4% year-over-year but down 3.4% sequentially from 2Q25.

• Net income on a consolidated basis was KRW 322 billion, a 52.3% increase year-over-year and a 3.9% rise quarter-over-quarter.

• Growth in domestic and U.S. markets drove brokerage commission revenue up 6.8% quarter-over-quarter and 23.7% year-over-year.

Financial highlights

• Operating income (consolidated) was KRW 409 billion, up 52.6% year-over-year and flat sequentially.

• Interest income rose 14.7% quarter-over-quarter and 26.7% year-over-year, supported by higher retail loan and deposit balances.

• S&T/PI income declined 39.3% quarter-over-quarter but increased 22.8% year-over-year.

• G&A expenses decreased 2.9% sequentially but increased 14.5% year-over-year.

Outlook and guidance

• Brokerage and investment banking segments are expected to benefit from continued market activity and deal flow.