Shinhan Securities reported first-half net profit of ₩577.7 billion, or about $408.7 million, and operating profit of ₩748.4 billion, or about $529.5 million, as growth in wealth management and investment banking lifted earnings and profitability. Operating profit increased 135.0% from a year earlier and net profit rose 123.1%, while return on equity reached 19.7% and the cost-to-income ratio stood at 41.9%. Total client assets were ₩325 trillion, or about $229.9 billion, at the end of the first half. The number of customers with ₩100 million, or about $70,745, or more in assets increased by nearly 78,000 from 169,000 at the end of last year to 247,000. The company said that reflects a model in which equity-market clients are moved beyond simple brokerage trading into financial products and wealth management services. That shift was most visible in financial products, where first-half fees totaled ₩85.7 billion, up ₩52.6 billion, or 158%, from a year earlier. The investment banking division also expanded sharply, with first-half IB net operating revenue reaching ₩178.7 billion, up 248% year-over-year. Debt capital markets and equity capital markets market share reached 10.44% and 11.52%, respectively, giving the firm double-digit share in both businesses. Shinhan Securities also highlighted progress in handling complex transactions, including a bridge loan refinancing backed by Kyobo Life Insurance's management control stake and acquisition financing for A-Fact. It formed six productive finance-related partnerships and private equity funds, expanding assets under management by about ₩200 billion, or about $141.5 million. In asset management, performance rose 45% year-over-year despite volatile markets. Risk indicators improved as the non-performing loan ratio fell to 2.3% in the first half from 8.5% in 2024. A company official said the first-half results were significant not because of the absolute size of profit alone, but because capital efficiency, financial product competitiveness, and the customer base improved at the same time. The official added that proactive risk management and new revenue streams should help support stable earnings improvement in the second half despite heightened equity-market volatility, and said Shinhan Securities would contribute to expanding Shinhan Financial Group's non-banking profitability. The results were presented as a positive sign for the broader non-banking segment, with second-half performance likely to hinge on risk management as volatility persists.