Mirae Asset Securities Achieves Record-Breaking Performance Last Year... Announces Unprecedented Shareholder Returns

[Asia Economy Reporter Ji Yeon-jin] Mirae Asset Securities announced on the 27th that its provisional consolidated operating profit for last year reached 1.4858 trillion KRW, marking the highest performance in its history. This is the first time in the securities industry that operating profit has exceeded 1 trillion KRW for two consecutive years.

On an annual basis, the pre-tax net profit was 1.6425 trillion KRW, and the net profit for the period was 1.1872 trillion KRW. Notably, the net profit for the period surpassed 1 trillion KRW for the first time ever.

Domestic and international commission income continued to increase steadily, and all sectors showed balanced growth, including stable operating profit and loss through risk management, various investment banking (IB) deals such as large-scale initial public offerings (IPOs), and contributions from overseas subsidiaries.

Based on these excellent results, Mirae Asset Securities decided to implement an active shareholder return policy.

This year’s cash dividends were set at 300 KRW for common stock, 330 KRW for Class 1 preferred stock, and 300 KRW for Class 2 preferred stock, and a plan to retire 20 million treasury shares was announced. This amounts to approximately 362.2 billion KRW in shareholder returns, exceeding the shareholder return ratio policy of maintaining over 30% promised in August last year. Additionally, the company plans to repurchase 10 million treasury shares.

Mirae Asset Securities, which surpassed 10 trillion KRW in equity capital in the second quarter of 2021, recorded controlling shareholder equity capital of 10.5 trillion KRW at the end of the year, showing a return on equity (ROE) of 11.85%. It achieved equity capital exceeding 10 trillion KRW and a double-digit ROE.

Overseas subsidiaries also set a new record by exceeding 200 billion KRW in pre-tax net profit last year, following 2020. The annual pre-tax net profit was 244.4 billion KRW, a 21.6% increase compared to the previous year. This was the result of focusing capabilities on core businesses through thorough localization at each overseas subsidiary.

A representative of Mirae Asset Securities said, “Despite increased volatility in domestic and international market environments, we achieved the highest operating profit in history by building a diversified revenue portfolio through thorough risk management.” He added, “We plan to continuously carry out shareholder return activities such as treasury stock repurchases and retirements to enhance shareholder value.”

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