Korea Investment Holdings (071050) Q3 2024 earnings summary

Executive summary

• Cumulative net income reached W938.5B in 3Q 2024, up 28.0% year-over-year.

• Operating income rose 31.9% YoY to W1,044.5B, and pretax income increased 30.4% YoY to W1,255.9B.

• Annualized ROE improved to 14.0% from 12.1% YoY.

Financial highlights

• Net operating revenue for 3Q24 was W767.7B, up 31.5% YoY and 3.5% QoQ.

• Fee and commission income grew 2.5% YoY, while interest income rose 15.5% YoY.

• Gain on valuation/disposal of financial assets surged 650.2% YoY.

• SG&A expenses increased 16.7% YoY.

Outlook and guidance

• Trading performance and asset management growth are expected to continue supporting earnings.

• Market interest rate trends and IPO/ECM activity will influence future IB and trading results.