Meritz Financial, Q3 Cumulative Net Profit of 1.9835 Trillion KRW... Smooth Sailing for 2 Consecutive Years in the '2 Trillion Club'

Meritz Financial Group recorded a net profit close to 2 trillion won up to the third quarter of this year, achieving the highest performance in its history. The possibility of joining the '2 trillion club' for the second consecutive year following last year has increased.

Meritz Financial Group announced on the 13th that its cumulative net profit on a consolidated basis up to the third quarter of this year was 1.9835 trillion won. This figure represents a 12.7% increase compared to the same period last year, setting a record for the highest profit on a cumulative third-quarter basis.

This record-breaking performance is attributed to maximizing insurance profits and investment gains through proactive risk management despite domestic and international uncertainties.

Meritz Financial Group's cumulative sales up to the third quarter reached 34.6935 trillion won, and operating profit was 2.6779 trillion won. Total assets were 112 trillion won, and return on equity (ROE) was recorded at 26.8%.

Meritz Financial Group Headquarters.

Looking at major affiliates, Meritz Fire & Marine Insurance's cumulative net profit on a separate basis up to the third quarter was 1.4928 trillion won, marking a 15.2% increase compared to the same period last year and breaking the previous highest profit record. For the third quarter alone, net profit increased by 3.1% to 495.1 billion won. It has been accumulating net profits exceeding 400 billion won each quarter this year. A Meritz Fire & Marine Insurance official said, "This is the result of focusing on securing industry-leading competitiveness through fundamental improvements while actively striving to find new demand and customers."

Meritz Securities recorded cumulative operating profit and net profit on a consolidated basis up to the third quarter of 744.7 billion won and 545.2 billion won, respectively. As a result of stable profit generation and differentiated risk management, it has recorded net profits exceeding 100 billion won for 27 consecutive quarters since the first quarter of 2018.

A Meritz Financial Group official explained, "Meritz Fire & Marine Insurance has focused on quickly responding to market changes and expanding its product lineup rather than simple external growth," adding, "Through this, it has increased sales and insurance profits and achieved stable investment profits, continuing record-breaking performance." He continued, "Meritz Securities recorded solid corporate finance results and favorable asset management performance while conducting high-quality big deals amid ongoing financial market uncertainties."

Along with the announcement of its management performance on the day, Meritz Financial Group also shared the status of implementing its 'Corporate Value Enhancement Plan (Value-Up),' including the acquisition and cancellation of treasury shares. Meritz Financial Group disclosed the corporate value enhancement execution plan in July as the first domestic listed financial holding company and stated that it would disclose the corporate value enhancement plan and implementation performance with each quarterly earnings announcement.