Business Results - Daishin Securities

Business Results

This presentation may contain forward-looking statement about Daishin Securities Co., Ltd.

All statements that address expectations or projections about the future are forward-looking statements.

Although they reflect our current expectations, these statements are not guarantees of future performance, but involve a number of risks, uncertainties, and assumptions.

Daishin Securities assumes no obligation to provide revisions to any forward-looking statements should circumstances change.

FY2019 2Quarter

[2QFY19 Overview]

• Via offering new customer value with differentiated finance & real estate background

2Q consolidated EBT scored 45.3 bil. KRW (-28.5% QoQ, -37.3% YoY)

2Q separated EBT for Securities results 33.7 bil. KRW (-51% QoQ, -41.5% YoY)

Good performance of WM, IB, Trading but, declined brokerage.

EBT of F&I for 2Q recorded 11.3 bil. KRW (+36.6% QoQ, -44.7% YoY)

EBT of Saving bank resulted 5.2 bil. KRW (-9.2% QoQ, +39.2% YoY)

EBT of Asset management resulted 34 bil. KRW (+1,357.2% QoQ, +5,110.1% YoY)

1

Utilizing Daishin Financial Group synergy to exploit AI markets and financial products

Securing new growth engine with differentiated WM, IB, Trading sectors

Providing ‘Daishin’s original’ financial products and service with distinguished customer value

[Market Trend]

March, 2019 June, 2019 QoQ

KOSPI 2,140.67 2,130.62 -0.5%

KOSDAQ 729.31 690.53 -5.3%

3-y Treasury bond Yield 1.690% 1.472% -0.218%P

FX rate (KRW/USD) 1135.1 (KRW/$) 1154.7 (KRW/$) 1.7%

KOSPI avg. daily trading turnover* 5.37 tril KRW 5.12 tril KRW -4.7%

KOSDAQ avg. daily trading turnover* 4.05 tril KRW 4.29 tril KRW 5.9%

Positon of Foreign investors 33.0% 33.6% 0.6%P

* Daily average trading during the period

Mutual Fund Market Flow (Unit :tril.. KRW)

* Source : KOFIA

Customer Deposit & Credit Loan (Unit :tril.. KRW)

* Source : KOFIA

2

237 232

214 225

236 235

218 222 224 223 212

224

0619.0312090618.0312090617.031209

Equity Bond Hybrid MMF FofF Derivatives Special Asset Others

29.6 28.5 29.0

32.4 31.5

36.4 38.3 38.9 38.8

34.4 35.4 35.2

09 12 17.03 06 09 12 18.03 06 09 12 19.03 06

customer deposit credit loan

[Introduction – Daishin Securities]

Major History

Main Subsidiaries

·Daishin F&I (Daishin F&I)

·Daishin AMC (http://amc.daishin.com)

·Daishin Savings Bank (http://bank.daishin.com)

·Daishin Asset Management (http://asset.daishin.com)

·Daishin Private Equity (http://pe.daishin.com)

·Daishin Economic Research Institute (http://eri.daishin.com)

·Daishin Asset Trust (http://trust.daishin.com)

·Jul. 27, 1962 Established

·Oct. 01, 1975 Listed in KRX

·Aug. 25, 1984 Established Tokyo Representative Office in Japan

·Sep. 22, 1984 Established Daishin Economic Research Institute

·Mar, 24, 1988 Established Daishin Asset Management

·Aug. 31, 2011 Launched Daishin Savings Bank

·Jun. 20, 2012 50th Anniversary of Daishin Finance Group

·Apr. 17, 2014 Launched Daishin Private Equity

·May. 8, 2014 Launched Daishin F&I & Daishin AMC

·Jan. 1, 2017 Closed down Shanghai Representative Office in China

·Aug. 29, 2017 Established Local Corporation in Singapore

·Jun. 11, 2018 Established Local Corporation in New-York

·Nov. 12, 2018 Closed down Local Corporation In Hong-Kong(proceeding)

·Jul. 29, 2019 Launched Daishin Asset Trust

Business Network

·Domestic : 49 Branches and 1 Head Office

·Overseas : 3 Subsidiary[Singapore, New-York, Hong-Kong(proceeding)]

1 Representative Office(Japan)

·# of Employees : 1,454

Main Shareholders [As of Dec. 2018, Common Stocks]

[As of June. 2019]

Credit Ratings

Korea Credit Info. Korea Corp. Valuation

Corp. Bod (LT) AA- AA-

Corp. Bill (ST) A1 A1

3

Mr. Yang and 8 Holders, 12.0%

Treasury Stock, 18.5%

ESOP, 3.9%

Foreign Investors, 26.7%

Domestic Insitutions, 9.4%

Individuals, 29.6%

[Consolidated] Diversified income sources and Risk management

2Q Composition Of Net Operation Profit

[FY10] [1QFY19]

2Q EBT Composition (Unit : bil. KRW)

Net Profit Trend (Unit : bil. KRW)

4

Brokerage, 66.4% WM, 4.3%

Trading , 14.3%

IB, 1.8% Loan, 10.6%

AM, 0.3%

19.4

9.1

24.4

41.5

35.2

14.7

57.1 52.8

37.7

-7

45.3

38.8

3Q 4Q FY17 1Q 2Q 3Q 4Q FY18 1Q 2Q 3Q 4Q FY19 1Q 2Q

Brokerage,

29.1%

WM, 6.0%

Trading ,

20.4%

IB, 4.9%

Loan,

10.7% Others,

11.3%

F&I, 26.1%

Savings Bank,

18.9%

AM,

5.9%

Reserch

Institution,

2.4%

DSPE, 0.7%

33.7

11.3

5.2 3.4

-8.3

45.4

38.8

Sec. F&I S.B A.M Adj. & etc. EBT Net Profit

[Consolidated] 2Quarter Earning Highlight

Unit : bil. KRW 2QFY18 1QFY19 2QFY19 QoQ YoY

Net Operating Revenue 121.4 129.2 97.4 -24.6% -19.8%

Wealth Management 7.6 6.8 7.7 13.8% 2.0%

Brokerage 59.6 36.9 37.5 1.7% -37.1%

Trading 20.2 40.0 26.3 -34.4% 30.1%

Investment Banking 6.1 9.3 6.3 -32.3% 3.1%

Loan Service 18.0 13.9 13.8 -0.8% -23.3%

Others 10.0 22.3 5.9 -73.7% -41.3%

SG&A Expenses 69.5 65.7 68.4 4.1% -1.6%

Salaries 38.2 37.7 36.3 -3.8% -5.0%

Administrative expenses 31.3 28.0 32.1 14.7% 2.5%

Operating Profit 51.9 63.5 29.0 -54.2% -44.1%

Non-Operating Profit 5.8 5.4 4.7 -12.6% -18.7%

Securities 57.7 68.8 33.7 -51.0% -41.5%

F&I 20.4 8.3 11.3 36.6% -44.7%

Savings Bank 3.8 5.8 5.2 -9.2% 39.2%

Asset Management 0.2 3.4 1357.2% 5110.1%

Other subsidiary and adjustments -9.5 -19.7 -8.3 57.9% 13.2%

Total net income before tax 72.4 63.4 45.4 -28.5% -37.3%

Net income 52.8 45.3 38.8 -14.3% -26.5%

2Q EBT scored 45.4 bil. KRW by diversified income sources and risk management

[Net operating revenue composition of Daishin sec.] (Unit : KRW)

WM 7.7 bil.

: WM fee profit increase to continue

Brokerage 37.5 bil.

: decreased of daily market trading volume pushed down the profit to continue

Trading 26.3bil.

: continued operating and valuation gains from falling interest rates

Investment Banking 6.3 bil.

: increase in advisory fee and decrease in underwriting fee

Loan Service 13.8 bil.

: decrease in credit loan balance

Others 5.9 bil.

: reflecting 1Q subsidiaries dividends, reflecting accounting adjustments.

[Subsidiary’s Net income before tax] (Unit : KRW)

Daishin F&I 11.3 bil.

: NPL market ‘s competition is deepening. Expending its business scales to the next level

Daishin Savings bank 5.2 bil.

: Market competition is intensifying. Risk management is top priority.

Daishin Asset Management 3.4 bil.

: Real estate fund assisted performance recovery

5 * Other Subsidiaries :Daishin PE, Daishin Economic Research Institute etc.

[Major Performance] Wealth Management(WM)

Total balance was 24.7 tril. KRW(+3.3% YoY) ; trust asset decreased.

Recurring profit recorded 7.3 bil. KRW. Increased both recurring income and WM’s profit.

WM Assets (Unit : tril. KRW)

* Others = Pension + CD/CP + Bancassurance

Retail Recurring Income (Unit : bil. KRW)

* Recurring Income= fee from fund, trust, and Wrap

6

1.3 1.1 1.0 1.0 0.8 0.6 0.4 0.3 0.4 0.3 0.4 0.4

4.1 3.9 4.0 4.0 4.0 4.0 4.1 4.3 4.2 4.3 4.7 4.7

5.1 5.2 4.7 4.7 5.0 5.8 6.9 6.9

6.1 6.4 6.0 5.9

2.3 2.9 2.6 2.7

4.0

5.2

5.6 5.8

5.3

7.7 8.4

6.5

7.9 8.1

8.7 7.8 6.4

6.4

6.3 5.4

5.4

5.4 5.2

5.9 1.1

1.2 1.2 1.2 1.1

1.1

1.2 1.2

1.2

1.3 1.3

1.3

3Q 4Q 1QFY17 2Q 3Q 4Q 1QFY18 2Q 3Q 4Q 1QFY19 2Q

ELS Bond and R.P Fund Trust WRAP Others

4.0 4.0

4.5 4.8

5.7 5.3

6.2 6.7

5.9 5.8 5.9

7.3

71.0%

74.3%

70.4%

74.3%

78.7%

82.0% 82.6% 83.6% 84.1% 85.4%

79.8% 80.2%


Ratail Recurring Income Proportion in Retail WM Income

[Major Performance] Brokerage

Be stagnant of daily market trading volume caused slightly rose of brokerage income 37.5 bil. KRW(+1.7% QoQ)

Total trading volume retained to 37.5 tril. KRW. Brokerage profit 9.2 bil. KRW(+6.9% QoQ, -68.6% YoY)

Brokerage Income & M/S (Unit : bil. KRW)

Profit form Retail (Unit : bil. KRW) Trading Volume & Online Proportion (Unit : tril. KRW)

* ETF & ELW included 7

10.6 8.7

2.7

8.6

11.6

10.4

30.4

29.3

8.3 9.1 8.6 9.2


29.3 22.1 23.7 28.0 26.3

34.9

48.0 47.7

27.5 24.6 26.8 26.4

5.4

5.4 4.7 6.0 6.2

4.9

6.8 6.2

5.2 6.5 4.8 5.1

2.7

2.9 4.6 4.4 4.4

4.9

6.3 5.7

5.6 5.6 5.3 6.0

4.1% 4.0% 3.8%

3.6% 3.34% 3.24%

3.36%

3.28% 2.99%

2.80% 2.87% 2.78%


Equity Futures & Options Others M/S

45.4 40.7 39.3 43.6 39.7

49.2

65.1 60.0

38.7 37.2 36.9 37.6

87.8% 88.0% 93.40% 93.4%

90.0% 90.5% 88.3% 90.3% 89.3% 90.3% 89.6% 89.4%

91.5% 91.4% 92.6% 92.4% 92.8% 94.3% 93.7% 95.2% 94.4% 94.0% 95.0% 94.8%


Trading volume Online proportion Retail proportion

[Major Performance] Trading & Investment Banking

Trading : 26.3 bil. KRW(30.1% YoY), continued operating and valuation gains from falling interest rates.

IB : 6.3 bil. KRW(+3.1% YoY), increase in advisory fee and underwriting fee decreased QoQ.

Trading Income (Unit : bil. KRW) Investment Banking Income (Unit : bil. KRW)

Derivative related Issuance (Unit : bil. KRW) Bond Portfolio (unit : tril. KRW)

8 ※ Derivative related : ELS/ELB, DLS/DLB, Source : Yonhap Infomax

9.2

-9.6

15.4

0.2

21.8

-5.1

12.5

20.2

11.4 6.9

40.0

26.3


577 494

713

1,010

545

1,164

823

1,165

604 569 762

1,013

3.1%

2.0%

2.6%

4.2%

2.1%

3.4%

2.6%

3.5%

3.0%

1.8%

2.9% 2.7%

3Q 4Q 1Q17 2Q 3Q 4Q 1Q18 2Q 3Q 4Q 1Q19 2Q

Issued amount Market share

2.3

4.5

2.7 2.6 2.9

1.1

3.2

1.2 2.4

1.7

4.7

0.6

3.2

2.6

1.1 2.7 2.2

0.9

5.0

4.8 3.1

7.5

4.6

5.6


Underwriting Advisory

6.5

5.8 5.3

5.9 5.8 5.1

5.5 5.6

6.4 6.2 6.0 6.1


Treasury Municipal Specialized Government run bank

Money stabilization Corporate Commercial bank Hybrid

[Major Performance] Loan Service and Real Estate Assets

Total loan is 1.29 tril. KRW(-15% YoY), interest income is 18.1 bil. KRW ( -18.1% YoY)

By 2Q, lease revenue is 16.0 bil KRW.

Credit and Secured Loan (Unit : bil. KRW) Real estate asset book value(Consolidated) (Unit : bil. KRW)

Tangible assets Investment Assets Total

Land for operation 122.2 Land 981.6 1,103.8

Building for operation 145.5 Buildings 258.5 404.0

(Depreciation) (24.4) (Depreciation) (15.6) (40.0)

Assets under Construction 71.9 71.9

Total 315.2 Total 1,224.5 1,539.7

Lease revenue(Consolidated) (Unit : bil. KRW)

9

Interest Income (Unit : bil. KRW)

1,039 1,018 1,014 1,058 936 902

1,146 1,107 1,195 1,005 1,010 1,012

303 274 278 297

291 334

377 413 385

309 292 280


Secured loan Credit loan

6.4 6.1 5.6 5.7 6.2 6.5 7.4 8.4 8.3 7.2 6.1 6.0

12.7 12.7 11.9 12.5 12.6 11.9 12.4

13.3 13.4 12.9

11.8 11.8

0.9 0.7 0.3

1.1 1.3 0.7 0.6

0.5 0.8 0.6

1.0 0.3


Income from Credit Income from Secured Other Interest Income

7.3 7.7 8.7

15.2

21.7

16.0

FY14 FY15 FY16 FY17 FY18 FY19

S&A Expenses & Financial stabilities

SG&A expenses (Unit : bil. KRW)

(단위 : 십억원)

2Q18 1Q19 2Q19 QoQ YoY

Wages1) 38.2 37.7 36.3 -3.71% -4.97%

IT Operating 6.8 4.8 5.7 18.75% -16.18%

Rental 2.0 0.5 0.4 -20.00% -80.0%

Miscellaneous 6.3 5.3 6.1 15.09% -3.17%

Advertising 1.3 1.9 1.8 -5.26% 38.46%

Depreciation 5.1 8.7 9.0 3.45% 76.47%

Others2) 9.9 6.8 9.1 33.82% -8.08%

Total 69.6 65.7 68.4 4.11% -1.72%

S&A Expenses resulted 68.4 bil. KRW (+4.11% QoQ, -1.6% YoY)

2Q’s NCR is 469%, Leverage ratio is 690%(Consolidated)

Net Capital Ratio (Unit : bil. KRW)

Leverage Ratio

10

1) Wages = Salary + Severance + Other benefits for employees

2) Other = Entertainment + Training + Tax and Dues + Consignment Fees + Others expense

1,667 1,675 1,667 1,677 1,704 1,710 1,721

1,765 1,788 1,784 1,790 1,804

858%

760% 703%

739% 708%

644% 667% 664% 705% 676% 694% 690%


Captail without allowance Leverage Ratio

40.4

38.8 39.0

36.1

39.0

43.2 38.0 38.2

41.4 44.6

37.7 36.3

36.9% 35.7% 33.0%

31.4%

43.0%

35.8% 34.5% 36.9% 35.7%

42.6%

28.9% 29.5%


Wages Variable ratio among wages

725

727

750 726

939 920

892 909

355% 398% 391% 362% 500% 494% 470% 469%

3Q 4Q 1QFY18 2Q 3Q 4Q 1QFY19 2Q

Net Capital Net Capital Ratio

* Financial investors should maintain at least 100% NCR and less than 100% leverage ratio.

[Subsidiary] Daishin F&I

With accumulated know-hows of real estate investment, F&I makes a synergy with other subsidiary.

EBT & ROE (Unit : bil. KRW) Quarterly EBT (Unit : bil. KRW)

11

58.7 56.8

71.8

67.8 70.7 69.7

41.9

16.8% 16.8% 17.2% 15.2% 13.6% 12.6%

6.8%

2012 2013 2014 2015 2016 2017 2018

EBT ROE

17.7 18.4

12.5

31.1

8.1

19.1

11.7

24.7

19.5

13.7

16.2

20.4

-0.8

6.1

8.3

11.3

15.09 15.12 16.03 16.06 16.09 16.12 17.03 17.06 17.09 17.12 18.03 18.06 18.09 18.12 19.03 19.06

[Subsidiary] Daishin Savings Bank

Total loan resulted 1.3 tril. KRW (-8.7% YoY), 1Q’s EBT resulted 5.2 bil. KRW(+39.2% YoY)

Market competition is intensifying. Risk management is top priority.

Loan to Deposit Ratio (Unit : bil. KRW) Ratio of Loan Below Standard (Unit : hundred mil. KRW)

Earning Before Tax (Unit : bil. KRW) Lending Position (Unit : bil. KRW)

12

839 793 758 607 587 566 496 501 513 551 576

406

8.1%

7.2% 6.6%

5.1% 4.8%

4.3% 3.6% 3.5% 3.5%

3.9% 4.3%

3.1%

16.09 16.12 17.03 17.06 17.09 17.12 18.03 18.06 18.09 18.12 19.03 19.06

3.6

4.7

6.9

10.0 10.3

5.3

11.6

3.8

7.7

10.7

5.8 5.2

16.09 16.12 17.03 17.06 17.09 17.12 18.03 18.06 18.09 18.12 19.03 19.06

1120 1120 1133 1208 1227 1302 1337 1407 1412 1381 1293 1180

1031 1094

1155 1182 1143

1331 1383 1430 1462 1428 1329 1305

92% 98% 102% 98% 93% 102% 103% 102% 104% 103% 103% 111%

09 12 17.03 06 09 12 18.03 06 09 12 19.3 06

Deposit Loan L-to-D Ratio

685 728 786 814 822 911 991 1029 1043 1012 919 906

285 300 311 301 333

329 316 317 330 343

318 308 61

66 58 67 72 91

75 84 90 73 92 91

16.09 16.12 17.03 17.06 17.09 17.12 18.03 18.06 18.09 18.12 19.03 19.06

Commercial Consumer Others

[Subsidiary] Daishin Asset Management

Total AUM is 5.7 tril. KRW(+23.9% YoY). Net profit for the 2Q was 3.4 bil. KRW(+5110.1% YoY)

Real estate fund assisted performance recovery.

Composition of AUM AUM (Unit : tril. KRW)

Management Fee (Unit : bil. KRW)

13

1% 0% 1%

25%

9%

10%

1%

3% 3%

16%

31%

Equity Equity hybrid Bond hybrid Bond hybrid

MMF Derivatives Special Assets Real Assets

FoF Mixed Assets WRAP kind

3.4 3.1

2.6 2.6

3.2 3.7 3.5

4.0 4.6

5.5 5.0 5.7

3Q 4Q 2017 1Q 2Q 3Q 4Q 2018 1Q 2Q 3Q 4Q 2019 1Q 2Q

Equity MMF Derivatives Real Estates related Special Assets Mixed Assets Others

0.3 0.2 0.2 0.3 0.3 0.6 0.5 0.6 0.6 0.6 0.5 0.6

1.3 1.1 1.0

1.3 1.3

1.5 1.6 1.6 1.7 1.8 1.6 1.7


Advisory fee Management fee

[Dividends]

FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18

Dividend Common 1500 750 500 500 650 500 1000 1000 1250 1000 1000 750 650 500 200 250 500 550 610 620

Per

Share

Class 1

Preferred 1550 800 550 550 700 550 1050 1050 1300 1050 1050 800 700 550 250 300 550 600 660 670

(KRW) Class 2

Preferred - - - - - - - - 1250 1000 1000 750 650 500 200 250 500 550 610 620

Dividend Common 8.8% 7.3% 1.9% 3.3% 3.8% 3.3% 4.9% 4.4% 5.2% 5.4% 5.9% 4.8% 5.3% 5.1% 2.6% 2.5% 4.0% 5.0% 4.1% 5.1%

Yield Class 1

Preferred 12.2% 13.4% 4.4% 7.4% 7.4% 5.1% 6.8% 7.2% 9.5% 12.9% 9.8% 7.7% 8.8% 8.4% 4.4% 4.6% 6.9% 7.8% 6.6% 7.3%

Class 2

Preferred - - - - - - - - 10.3% 13.6% 10.6% 8.1% 8.6% 8.2% 3.9% 4.1% 6.8% 7.6% 6.6% 7.2%

Net income

(bil. KRW) 337.1 87.3 13.4 42 73.8 41.2 151.4 100 177.8 103.3 91.4 85.4 89.9 3.4 15.1 43.7 136.2 74.0 115.9 140.7

Total payout

amount (bil. KRW) 113.5 57.4 38.7 38.2 49.1 37.1 75 77.4 106.2 80.1 79 59.8 51.5 38.7 16.3 19.4 36.6 40.3 44.7 45.5

Dividend

payout ratio 33.7% 65.7% 288.1% 90.9% 66.5% 90.0% 47.6% 77.5% 59.7% 77.6% 86.5% 70.0% 57.3% 1138.2% 107.9% 44.4% 26.9% 54.5% 38.5% 32.3%

21 consecutive years of cash dividends to maximize shareholder value.

FY18 dividends of 620 KRW for common and class 2 preferred stocks, and paid 670 KRW for class 1 preferred

Dividend yield of Common stock of 5.1%, Class 1 preferred of 7.3%, Class 2 preferred of 7.2

14

[Consolidated F/S]

15

(Unit : bil. KRW) 2018.06.30 2019.06.30

B/S

Ⅰ. Total Assets 18,004 20,558

Ⅱ. Total Liabilities 16,075 18,519

Ⅲ. Total Equities 1,929 2,039

(Unit : bil. KRW) 2QFY18 1HFY18 1QFY19 1HFY19

P/L

Ⅰ. Net Commission Revenue 82.4 165.5 57.1 115.0

Ⅱ. Net Interest Revenue 25.5 51.6 8.6 19.7

Ⅲ. Net Gain(Loss) on Financial Assets at Fair Value thought Profit or Loss 103.7 111.1 135.1 422.7

Ⅳ. Net Gain(Loss) on Financial Assets Designated at Fair Value thought Profit or Loss -64.2 -46.5 -89.5 -310.4

Ⅴ. Net Gain(Loss) on Credit loss -15.5 -18.2 -16.6 -25.3

Ⅵ. Net Gain(Loss) on disposal Financial Assets at Amortized cost 17.2 27.1 5.8 11.2

Ⅶ. Other Operating Income(Expense) 1.0 17.2 27.4 36.0

Ⅷ. Net Operating Income 150.1 307.8 127.9 268.9

Ⅸ. Selling and Administrative Expenses 83.0 166.4 88.9 174.0

Employee Benefits Expense 45.6 92.8 45.3 92.0

Depreciation and Amoriization 5.6 11.2 10.7 21.1

Other S&A Expenses 31.9 62.4 32.8 60.9

X. Operating Income 67.1 141.4 390. 94.9

XI. Non Operating Income 5.4 8.6 6.3 13.9

XII. Profit before Income Tax 72.5 150.0 45.4 108.8

XIII. Income Tax Expense 19.6 40.0 6.6 24.7

XIV. Net Profit for the Period 52.9 110.0 38.8 84.1

XV. Earnings per share

Basic Earnings per Common Share(Unit : won, KRW) 736 1,532 540 1,160

Basic Earnings per 1st Preferred Share(Unit : won, KRW) 749 1,557 564 1,218


[Non-Consolidated F/S]

16

(Unit : bil. KRW) 2018.06.30 2019.06.30

B/S

Ⅰ. Total Assets 14,001 14,748

Ⅱ. Total Liabilities 12,227 12,930

Ⅲ. Total Equities 1,773 1,818

(Unit : bil. KRW) 2QFY18 1HFY18 2QFY19 1HFY19

P/L

Ⅰ. Net Commission Revenue 81.9 164.4 59.9 121.6

Ⅱ. Net Interest Revenue -1.7 -3.6 -13.7 -25.5

Ⅲ. Net Gain(Loss) on Financial Assets at Fair Value thought Profit or Loss 108.0 115.0 136.0 421.8

Ⅳ. Net Gain(Loss) on Financial Assets Designated at Fair Value thought Profit or Loss -64.2 -46.5 -89.5 -310.4

Ⅴ. Net Gain(Loss) on Credit loss 0.08 0.6 -1.3 -1.2

VI. Other Operating Income(Expense) -2.7 25.9 6.1 20.4

VII. Net Operating Income 121.5 255.9 97.5 226.7

VIII. Selling and Administrative Expenses 69.5 137.5 68.4 134.1

Employee Benefits Expense 37.4 74.6 35.5 72.5

Depreciation and Amortization 5.1 10.3 9.0 17.7

Other S&A Expenses 27.1 52.6 23.9 43.9

IX. Operating Income 51.9 118.3 29.0 92.5

X. Non Operating Income 5.8 11.8 4.7 10.0

XI. Profit before Income Tax 57.7 130.1 33.7 102.5

XII. Income Tax Expense 14.3 27.2 8.5 25.4

XIII. Net Profit for the Period 43.3 103 25.2 77.2

XIV. Earnings per share


Basic Earnings per 1st Preferred Share(Unit : won, KRW) 615 1,458 368 1,116


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Documents

Business Results - Daishin Securities