Korea Investment Holdings (071050) Q1 2025 earnings summary

Executive summary

• Net income reached W459.3B in 1Q25, up 34.0% year-over-year, driven by strong trading gains at KIS.

• Operating income rose 38.8% YoY to W529.6B, and pretax income increased 32.2% YoY to W615.0B.

• Annualized ROE improved to 18.6% from 16.0% YoY.

Financial highlights

• Net operating revenue grew 23.5% YoY to W975.2B, with fee and commission income up 11.9% YoY.

• Interest income increased 16.7% YoY to W353.7B.

• SG&A expenses rose 11.1% YoY but declined 8.2% sequentially.

• Group total assets reached W111.9T, up 2.4% YTD; total AUM rose 4.8% YTD to W390.1T.

Outlook and guidance

• Trading profit expected to remain robust as funding costs decline.

• IB pipeline remains strong with anticipated ECM and DCM deals.