14-02-2025
Toss Securities swings to first operating profit in 2024
Toss Securities, the brokerage arm of South Korean fintech giant Viva Republica, posted its first operating profit last year, driven by surging revenue from overseas stock trading.
The company on Friday reported an operating profit of 149.2 billion won ($103.3 million) in 2024, marking its first time in the black since launching in 2021. Net profit came in at 131.5 billion won, extending its streak of profitability for a second year.
Annual revenue more than doubled to 426.6 billion won from 2023.
Toss Securities credited the strong performance to higher commission income from domestic and overseas stock trading, alongside increased foreign exchange fee revenue.
The firm saw a sharp uptick in individual investors' interest in overseas markets, fueling a 211 percent surge in total overseas stock trading volume.
User growth also accelerated, with the brokerage adding 1 million new members last year, bringing its total to over 6.6 million by the end of 2024. Monthly active users climbed 39 percent on-year to 3.84 million.
To enhance its offerings, Toss Securities launched new services, including real-time overseas bond trading, a desktop platform and a research center focused on retail investors.
"We achieved a major milestone last year thanks to the strong support of our customers," CEO Kim Gyu-bin said in a statement. "Leveraging our differentiated infrastructure and technology, Toss Securities will continue striving to become an investment platform for all."
Toss Securities is an online-only brokerage operated within the financial super app Toss. Launched in March 2021, it became Korea's first newly licensed securities firm in 13 years.
