Korea Investment Holdings (071050) Q4 2024 earnings summary

Executive summary

• Net income reached W1,045.9B in 2024, up 47.7% year-over-year, with strong contributions from securities and investment banking.

• Operating income rose 46.2% YoY to W1,199.7B, and pretax income increased 57.9% YoY to W1,398.9B.

• Annualized ROE improved to 11.5% from 8.7% YoY, reflecting enhanced profitability.

Financial highlights

• Net operating revenue for 2024 was W2,834.4B, up 38.0% YoY.

• Fee and commission income grew 17.8% YoY to W1,224.9B; interest income rose 28.0% YoY to W1,255.3B.

• Group total assets increased 13.9% YTD to W109.2T; group total AUM rose 12.3% YTD to W372.1T.

Outlook and guidance

• Focus on global expansion and risk management, with organizational restructuring to accelerate international business.

• Enhanced collaboration with US-based Stifel Financial to explore new opportunities.