Shinhan Securities said it is accelerating growth beyond traditional brokerage by converting stock-market inflows into financial product and wealth management clients while expanding investment banking and tightening risk controls. In the first half, the firm posted return on equity of 19.7% and a cost-to-income ratio of 41.9% as fee income from financial products rose to 85.7 billion won, up 158% from a year earlier. The number of clients holding assets of 100 million won or more increased to 247,000 in the first half from 169,000 at the end of last year, reflecting the company's push to deepen relationships with investors drawn into the equity market. Investment banking also expanded sharply, with net operating revenue reaching 178.7 billion won in the first half, up 248% from a year earlier. Shinhan Securities said it secured double-digit market share in both debt and equity capital markets, at 10.44% and 11.52%, respectively, while also strengthening its position in large-scale and structured transactions including a bridge-loan refinancing backed by a controlling stake in Kyobo Life Insurance and acquisition financing for A-Fact. In productive finance, it formed six partnerships and private equity funds, increasing assets under management by about 200 billion won. As client assets and business volume grew, the firm said it reinforced internal controls and risk management, helping reduce its ratio of substandard-and-below loans to 2.3% in the first half from 8.5% in 2024. It also cited new revenue sources including National Pension Service transactions, the resumption of exchange-traded fund liquidity-provider work and entry into the promissory note market as supports for more stable earnings in volatile markets.