Meriz Financial Group announced on the 14th that its consolidated net profit for the first quarter of this year was 620.8 billion won, reflecting a 5% increase compared to the same period last year. Total assets amounted to 119.6833 trillion won, and the return on equity (ROE) was recorded at 24.6%. First quarter sales were 82.303 billion won, with operating profit recorded at 72.17 billion won.
A Meriz Financial Group official noted, "Amid an unstable domestic and international business environment, interest profit steadily increased based on robust profit capacity, and financial investment profit improved."
Looking at each subsidiary, Meriz Fire's net profit for the first quarter was 462.5 billion won, down 5.8% compared to the same period last year (490.9 billion won). Sales during the same period recorded an increase of 3.4%, amounting to 30.73 billion won, but operating profit dropped by 5.9% to 62.19 billion won. The solvency ratio (KIX) stood at 239%, maintaining the highest level in the industry.
Meriz Securities reported a net profit of 187.4 billion won for the first quarter, which is a 48.1% increase compared to the same period last year (126.5 billion won). However, during the same period, operating profit showed a decline of 4.8% to 155.7 billion won.
Meriz Financial Group stated it will continue shareholder returns this year. Following the implementation of its shareholder return policy in 2023, the cumulative total shareholder return (TSR) for Meriz Financial Group has reached 194.4%, averaging 45.7% per year. As of the end of March, the return on share buybacks and cancellations was 11.6%.
Earlier, Meriz Financial Group completely canceled the treasury shares it had purchased for 500 billion won each in March and September of last year and additionally bought back 550 billion won worth of its own shares in the first quarter of this year.