South Korea’s NH Investment & Securities Co. will focus on expanding global business to fine a new growth engine, said Kim Won-kyu, chief executive officer of NH Investment & Securities.

“For the last two years, I concentrated on stabilizing the company and reinforcing investment banking business model, and in next two years, my focus will be on developing a stable profit-making model from wealth management and strengthening in global operation,” said Kim after a board meeting held on Wednesday that voted to retain him as a chief of the securities company for another year.

Kim was credited for managing the firm stably after a merger in 2015 and making sound earnings amid industry slowdown. The brokerage firm has maintained its lead in the industry by posting much improved earnings in 2015 and sustaining sound performance in 2016 as well. Last year, it booked the highest net profit of 236 billion won ($204 million) since 2007 and raised its return on equity (ROE) ratio, a measure of profitability in relation to net assets, to 5.1 percent from 2.07 percent in 2014 by successfully carrying out businesses using its own capital.

“As a subsidiary of Nonghyup Financial Group, we will work hard to create a synergy effect in every part of business,” said Kim. “We will particularly focus on the global investment banking business as a stable source of making profits.”

Separately, the board of directors decided to pay out 120.7 billion won in dividends from its non-consolidated net profit of 211.1 billion won - 400 won per common shares and 450 won per preferred shares. Kim’s extension and the dividend plan will be put to vote in its regular shareholders meeting on March 24.

As of 9:47 a.m. on Thursday, shares of NH Investment & Securities rose 1.74 percent to 11,700 won in Seoul trading.

By Kang Doo-soon

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