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||Securities Companies’ Earnings, Fiscal Third Quarter 2013
Preliminary figures show securities companies’ net income for the first three quarters of fiscal 2013 from April to December was in the red at KRW109.8 billion, posting net losses for the first time since the fiscal year of 2002. The net loss resulted from massive losses posted by Tong Yang Securities and Hanmag Securities, along with a drop in bond-related proprietary income on rising interest rates resulting from the tapering of the U.S. Federal Reserve. Return on equity (ROE) was negative 0.3%, down 2.2 percentage points from 1.9% a year earlier.
Securities Companies’ Earnings, Fiscal Third Quarter 2013_.pdf