Domestic Investment Trust Companies Recorded First Surplus in 4 Years
Domestic investment trust companies recorded a surplus last year. Their surplus stemmed from low interest rates and the booming Korean Stock Market.The Financial Supervisory Commission announced on April 28 that 24 investment trust companies recorded a surplus of 328.4 billion won (274 million dollars, their first such surplus since 1994, when the profits amounted to 576.1 billion won (480 million dollars)
Four investment trust companies including Korea and Daehan investment trust companies recorded a surplus of 148.9 billion won last year, while they recorded large losses totalling 2.8637 trillion won in 1997.
Korea and Daehan recorded the surplus of 123 billion and 12.9 billion won, respectively, while CJ and Central investment trust companies recorded deficits because they included the appraisal loss of their stocks and bonds in their accounting last year.
Jangsoo Seo:jsbee@joongang.co.kr
with the Korea JoongAng Daily
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