Meritz Securities Achieves 800 Billion KRW Operating Profit Last Year... Sales Up 39%

[Asia Economy Reporter Ji Yeon-jin] Meritz Securities announced on the 1st that its operating profit last year was 828 billion KRW, and net profit was 565.1 billion KRW. Operating profit increased by 21.8% and net profit by 1.9% compared to the previous year.

Last year's revenue was 16.6048 trillion KRW, up 39.4% from the previous year. The operating profit for the fourth quarter of last year was 253.5 billion KRW, and net profit was 144.6 billion KRW. The company explained that the corporate finance (IB) and trading divisions posted balanced performances in the fourth quarter, and the retail division also achieved strong results due to increased stock market trading volume.

Financials also strengthened with improved performance. As of the end of December last year, the Net Capital Ratio (NCR) and leverage ratio were 1660% and 743%, respectively, improving by 833 percentage points and 17 percentage points compared to the previous year. The scale of debt guarantees was reduced by 4.4 trillion KRW over one year, from 8.5 trillion KRW at the end of December 2019 to 4.1 trillion KRW at the end of last year.

A Meritz Securities official said, "The year 2020 was a year focused on overcoming the crisis caused by COVID-19 and improving our organizational structure," adding, "Meritz Securities will strive to generate differentiated profits from the past by having all business divisions adapt to trend changes based on precise risk management and strengthened financial soundness."

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