This undated file picture exhibits the emblem on the constructing of the Monetary Supervisory Service. Yonhap
Asset administration companies in South Korea noticed their mixed revenue greater than double within the third quarter from a 12 months earlier on an increase in fee earnings, information confirmed Monday.
The mixed internet earnings of asset administration companies right here got here to 945 billion received ($643 million) within the July-September interval, up from a internet revenue of 413 billion received a 12 months earlier, in accordance with the preliminary information from the Monetary Supervisory Service (FSS).
From three months earlier, their internet revenue additionally rose 10.4 %, the information confirmed.
The rise was largely attributed to an increase in fee earnings.
The businesses’ mixed working earnings got here in at 996 billion received within the third quarter, in contrast with an working earnings of 391 billion received a 12 months earlier.
Their return-on-equity, a significant gauge of profitability, stood at 21.9 % on the finish of September, up from 10.6 % a 12 months in the past.
Whole property below administration stood at 1,868.8 trillion received as of end-September, up from 1,633.8 trillion received a 12 months earlier, in accordance with the information.
There have been 505 asset administration companies right here as of end-September, the FSS stated.
