Mirae Asset Securities Reports Operating Profit of 605.9 Billion KRW in H1... Achieves Highest Performance Among Securities Firms

[Asia Economy Reporter Ji Yeon-jin] Mirae Asset Securities announced on the 9th that its provisional consolidated operating profit for the first half of this year reached 605.9 billion KRW, and its pre-tax net profit was 626.8 billion KRW. It is expected to record the highest performance in the securities industry for the first half of this year.

Mirae Asset Securities' provisional consolidated results for the second quarter showed an operating profit of 321.3 billion KRW, up 12.9% from the previous quarter, and a pre-tax net profit of 354.2 billion KRW, an increase of 29.9%. During this period, the net profit attributable to controlling shareholders rose 32.3% to 253.7 billion KRW.

In particular, it is analyzed that the trading division's profit and loss defense through proactive market response and the creation of favorable results based on a diversified investment portfolio contributed to the operating profit of 110 billion KRW, helping to maintain solid performance. Realized distributions and dividend income from investment purpose assets also recorded 75.6 billion KRW.

The total revenue from the investment division (IB) reached 106.4 billion KRW based on separate financial statements. Corporate finance fee income was 81.2 billion KRW, and corporate loan income was 25.2 billion KRW.

Despite a decline in domestic trading volume, total brokerage commission income recorded 133.8 billion KRW, with overseas commission income, including foreign stocks, expanding to a record high proportion of 28.8% at 38.5 billion KRW. Additionally, pension balances remained solid at 25.3 trillion KRW.

Mirae Asset Securities' overseas subsidiaries also showed strong performance. Pre-tax net profit for this quarter was 64 billion KRW, an increase of 113.3% compared to the previous quarter. Despite increased volatility in global stock markets, they continue to record stable results by conducting core businesses according to regional characteristics.

Earlier, Chairman Choi Hyun-man of Mirae Asset Securities emphasized thorough risk management in his New Year's address, noting that economic growth is expected to slow this year and market volatility is likely to increase.

According to recent data released by Korea Credit Rating, among the five major domestic securities firms, Mirae Asset Securities showed the lowest real estate finance ratio relative to equity capital at about 45% as of the end of March this year, demonstrating proactive risk management compared to competitors. The NCR (Net Capital Ratio) also recorded 2198.2% as of the end of March 2022, the only major securities firm to exceed 2000%.

A representative of Mirae Asset Securities stated, "It is highly meaningful that we achieved a stable profit and loss structure even in a difficult environment by utilizing maximum capital capacity based on thorough risk management and a differentiated business model," adding, "We plan to continuously implement shareholder return activities such as share repurchases and cancellations to enhance shareholder value."

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