SEOUL, Nov. 14, 2024 – Toss Securities, a fintech securities firm with the largest data-driven investment platform in South Korea, reported a surge in its third quarter (Q3) 2024 operating profit today, recording a more than eightfold increase year-on-year to KRW 29.6 billion (around $24.5 million). The company’s year-to-date operating profit in Q3 reached KRW 60.2 billion (around $49.8 million), already doubling its annual operating profit target.
During Q3, revenue increased by 117.9% year-on-year to KRW 119.9 billion (around $99.2 million), and net income also soared by 833% to KRW 32.4 billion (around $26.9 million).
The continuous growth in the company’s overseas securities trading service since last year has been a key driver in improving Toss Securities’ overall performance. Overseas commission revenue increased by 165.4% compared to last year, and year-to-date growth in Q3 increased by 119.7%.
The increase in transaction volume also boosted foreign exchange commission income, which grew by 133.2% year-on-year, contributing to the performance growth.
Importantly, this year, Toss Securities has not only increased the number of customers but also the number of high-asset customers with assets of more than KRW 1 million (around $830), leading to an overall improvement in revenue.
“Toss Securities has established itself as a leading investment platform for overseas securities trading targeting all investors in various age groups. We expect that our performance will continue to improve throughout the second half of the year,” said Kim Gyubin, CEO of Toss Securities.