- Toss Securities logs exceptional financial performance,
achieving full-year target in just six months
- Strong performance in U.S. securities trading was instrumental
in driving growth
- Building on quarterly profit in Q1, Toss Securities' strong Q2
results highlight consistent profitability
SEOUL,
South Korea, Aug. 12,
2024 /PRNewswire/ -- Toss Securities has reported a
strong performance in the first half of 2024. The company posted
operating profit of $22.3 million
(KRW 30.6 billion), achieving its
full-year target within the first six months of the year.
This continued solid performance is attributed to Toss
Securities' robust U.S securities trading services, reporting a 96%
increase in trading volume year-over-year. Domestic securities
trading also recorded a 38.7% increase in trading volume
year-over-year.
In addition, Toss Securities reported a net profit of
$25.1 million (KRW 34.3 billion) during the same period, marking
a significant improvement from the previous year. The company also
reported significantly higher revenue of $128 million (KRW 175.1
billion), up 81.6% compared to the first half of 2023.
Following its quarterly profit in Q1, the company's positive
trajectory continued into the second quarter, with an operating
profit of $13.4 million (KRW 18.3 billion) and a net profit of
$16.4 million (KRW 22.4 billion), demonstrating its consistent
profitability.
"Our strong performance in U.S. securities trading as a market
leader in Korea has been instrumental in continuing our growth in
the first half of the year," said Seungyeon
Kim, CEO of Toss Securities. "For the second half, we
anticipate an operating profit exceeding $43.9 million (KRW 60
billion) through product diversification such as our
recently launched U.S. bonds and other additional streams of
revenue."
Earlier this year, Toss Securities marked its third anniversary
with a press conference. During the event, CEO Seungyeon Kim announced the launch of exciting
initiatives for the coming year. These include channel
diversification through Toss Securities' new PC-based Web Trading
System (WTS) that was launched last month, as well as an expansion
of product line-ups to include U.S. bonds trading. In three years
of launch, Toss Securities has recorded rapid growth, attracting
over 6.1 million customers. Monthly Active Users (MAU) reach over
3.2 million to date.
About Toss Securities
Toss Securities, a subsidiary company of Viva Republica, which operates the financial
super app Toss, launched its customer service in March 2021. As a newly licensed securities
company after 13 years, it provides user-centered services with
UX/UI optimized for the mobile environment. In particular, it is
the first in the industry to introduce an integrated account
service that allows customers to conveniently trade multiple
financial instruments from one account without installing a
separate app, and as of July 2024,
more than 6.1 million customers have used Toss Securities. Monthly
Active Users (MAU) reach over 3.2 million to date. In addition to
real-time overseas decimal stock trading, the company offers a
variety of services such as community and customized content and is
evolving into a data-driven investment platform.
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SOURCE Toss Securities