Meritz Financial Group Surpasses 2 Trillion Won in Cumulative Net Profit for Q3, Achieving Record High

Meritz Financial Group announced on November 14 that its consolidated cumulative net profit for the third quarter of this year reached 2.0268 trillion won, up 2.2% compared to the same period last year.

With its net profit surpassing 2 trillion won within just three quarters, Meritz Financial Group achieved its highest performance ever. This marks the third consecutive year the group has joined the "2 trillion won club."

Cumulative sales for the third quarter totaled 24.9522 trillion won, and operating profit reached 2.5338 trillion won. As of the end of the third quarter, total assets stood at 132.6895 trillion won, and the return on equity (ROE) was 25.9%.

Meritz Financial Group Headquarters. Meritz

This performance is attributed to strong long-term insurance sales and increased investment income at Meritz Fire & Marine Insurance, as well as improved corporate finance investment returns and advisory results at Meritz Securities.

By major subsidiary, Meritz Fire & Marine Insurance posted a cumulative net profit of 1.4511 trillion won (on a separate basis) through the third quarter of this year. Third-quarter net profit was 463.8 billion won, exceeding 400 billion won every quarter this year and demonstrating robust profit generation capability.

Meritz Securities recorded a cumulative operating profit of 701.6 billion won and a net profit of 643.5 billion won (on a consolidated basis) through the third quarter of this year. Based on differentiated risk management capabilities such as portfolio diversification, the company has achieved more than 100 billion won in net profit for 31 consecutive quarters since the first quarter of 2018.

Meritz Financial Group will hold a conference call at 4 p.m. today regarding its third-quarter business results, during which it will also announce a medium-term shareholder return policy aimed at enhancing mid- to long-term shareholder value.

Meritz Financial Group has decided to continue its medium-term shareholder return policy, under which the total shareholder return rate will be set at 50% of consolidated net profit for three years starting in 2026. This is an example of putting into practice the group's management philosophy of prioritizing shareholder value and adhering to capital allocation principles.

Regarding the medium-term shareholder return policy, Meritz Financial Group will accept questions from general shareholders through its website from today until November 20 and plans to provide answers in the form of an FAQ on November 21.

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