Meritz Securities Records 102.3 Billion KRW Net Profit in Q1... 9 Consecutive Quarters Above 100 Billion KRW

[Asia Economy Reporter Ji-hwan Park] Meritz Securities achieved a net profit of over 100 billion KRW in the first quarter of this year. This marks the ninth consecutive quarter with net profits exceeding 100 billion KRW.

On the 29th, Meritz Securities announced that its consolidated net profit for the first quarter of this year reached 102.3 billion KRW. Although this represents a 27.6% decrease compared to the same period last year, the company has maintained net profits above 100 billion KRW for nine consecutive quarters from the first quarter of 2018 to the first quarter of 2020. This is considered a significant achievement, recording over 100 billion KRW despite the challenging financial market environment caused by the spread of COVID-19.

Operating profit for the first quarter of this year was 144.7 billion KRW, down 12.8% compared to the same period last year.

The annualized return on equity (ROE) was 10.2%, a decrease of 4.6 percentage points from the fourth quarter of last year, but the company has maintained a double-digit ROE for seven consecutive years.

Soundness indicators were also favorable. As of the end of March, the consolidated Net Capital Ratio (NCR) was 904%, an increase of 245 percentage points compared to the same period last year, and an improvement of 77 percentage points compared to the end of last year.

A Meritz Securities official stated, "Despite the increased uncertainty in the financial markets due to COVID-19, we recorded solid performance in corporate finance (IB) and retail based on long-accumulated risk management capabilities," adding, "We will prepare to build a robust asset portfolio in anticipation of the post-COVID era."

This content was produced with the assistance of AI translation services.