The financial sector has predicted the best year ever, and Samsung Life Insurance, the oldest brother, has been performing well, reaching about 2 trillion won in the first quarter of the Samsung Financial Group. KB Financial Group, the largest financial holding company in Korea, has a total of 700 billion won.
Samsung Life announced on the 14th that it recorded net profit of 1.88 trillion won in the first quarter of this year. It grew more than 373.2% YoY and recorded the second largest quarterly earnings.
The biggest earnings were in the first quarter of 2016, when net profit was 1.24 trillion won. At that time, Samsung Life Insurance purchased 37.45% (43.39 million shares) of Samsung Card, resulting in a one-off profit effect.
Samsung Life Insurance, which owns 8.51% of Samsung Electronics common stock (excluding special accounts and preferred stock), received a special dividend of 800 billion won from Samsung Electronics during the first quarter. Earlier, Samsung Electronics paid a total of 13.12 trillion won in dividends for 2020. The existing dividend pays 354 won per common share, plus 1578 won per special dividend.
The company’s operating profit was also good, with net profit of 440.6 billion won, up 91.6% from the same period last year (229.9 billion won), even if it excludes Samsung Electronics’ special dividend, which is a one-off factor.
Samsung Life Insurance, the eldest brother of Samsung, has been performing well, and Samsung Financial affiliates have recorded the highest performance ever. The net profit of Samsung Life Insurance, Fire, Securities, and Cards in the first quarter of this year totaled 1.9469 trillion won (only fires, based on the remaining connection). It grew 273.3 percent from last year. It is more than the first quarter of 2016 (1.6728 trillion won), 폰테크 when Samsung Life Insurance made the highest profit.
KB Financial Group, the largest financial holding company, posted net profit of 1.27 trillion won in the first quarter, while four Samsung Financial Groups earned about 680 billion won more than that. Even Hana Financial Group , which is 834.4 billion won, and W671.6 billion, are more than 1.506 trillion won.
In the first quarter of last year alone, four Samsung Financial Group companies earned 521.5 billion won, below Shinhan Financial Group (932.4 billion won) and KB Financial Group (729.5 billion won).
In addition to Samsung Life Insurance, fire and securities have changed their quarterly earnings. Samsung Fire & Marine Insurance recorded net profit of 431.5 billion won. Except for Samsung Electronics’ special dividend (140 billion won), it doubled in the first quarter of last year, achieving the largest profit in the first quarter.
Samsung Securities also earned 289 billion won, up 1776 percent from the boom in the securities market. In particular, the retail sector has recorded record-high earnings thanks to its favorable market environment and sales activities.
Samsung Card recorded net profit of W138.4bn, up 23.4%. The increase in card membership and the improvement of utilization efficiency.It is not the best performance ever, but it is an evaluation that it saved even in difficult consumption environment with Corona 19.