Samsung Securities (016360) Q2 2025 earnings summary

Executive summary

• Net revenues reached KRW 613.8bn on a consolidated basis in 2Q25, up 4.2% QoQ and 3.1% YoY, with net income at KRW 234.6bn, down 5.5% QoQ and 9.0% YoY.

• Annualized ROE was 12.7%, a decrease of 2.4 percentage points YoY and 0.9 percentage points QoQ.

• Retail client assets grew to KRW 356.2tn, up 15.5% QoQ, with net new inflows of KRW 1.1tn and HNWI clients increasing 15.4% QoQ to 305,000.

Financial highlights

• Brokerage commissions rose to KRW 179.6bn, up 12.0% QoQ and 14.5% YoY; domestic brokerage up 28.2% QoQ, overseas down 6.0% QoQ.

• Trading and interest income was KRW 344.2bn, down 3.2% QoQ but up 1.3% YoY.

• Financial product sales increased 8.2% QoQ to KRW 35.5bn, but declined 29.8% YoY.

• Operating expenses rose 20.0% QoQ and 19.2% YoY to KRW 305.2bn, with personnel expenses up 31.8% QoQ.

• Pretax income was KRW 312.8bn, down 6.7% QoQ and 9.3% YoY.

Outlook and guidance

• Forward-looking statements caution that projections are not guarantees and are subject to risks and uncertainties.