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| 키움증권. (사진=키움증권) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] In the first quarter of this year, securities firms' interest income from private investors in debt rose about 3% from the previous quarter, the report showed.
According to the Korea Financial Investment Association's electronic disclosure, 29 local securities firms earned KRW 360.2 billion in credit transaction loans in the first quarter, up 2.86% from the fourth quarter of last year.
However, it decreased by 16.14% compared to the same period last year.
Kiwoom Securities had the highest interest income of KRW 58.8 billion for each securities firm.
Kiwoom Securities earned 55 billion won in interest on credit loans in the fourth quarter of last year, but increased 6.83% in the first quarter of this year.
In February, major securities firms lowered interest rates on credit loans in the name of reducing the financial burden on customers.
Lower interest rates should also reduce interest income collected by securities firms, but overall earnings appear to have increased due to a surge in investors' demand for "Debt Too" as the stock market has rebounded since the beginning of the year.
As a result, the balance of credit loans has also skyrocketed.
The credit balance, which stood at 8.7742 trillion won and 7.7568 trillion won in the securities and KOSDAQ markets at the beginning of the year, respectively, rose to 9.742 trillion won and 9.6198 trillion won as of March 31.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
