Cash flow Meritz Financial Group Inc.

Equities

A138040

KR7138040001

Investment Holding Companies

End-of-day quote Korea S.E. Other stock markets 05/06/2026			5-day change	1st Jan Change
107,300.00 ^KRW	+0.75%		+4.28%	-5.13%

05-14	Meritz Financial Group Q1 operating profit 854 billion won, up 18% Y/Y	RE
05-13	South Korea has room for active fiscal spending thanks to AI boom, Fitch says	RE

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Published financial data: MERITZ FINANCIAL GROUP INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Interest Income On Loans	666B	1,021B	1,050B	1,163B	1,172B
Interest Income On Investments	1,316B	2,008B	2,917B	3,142B	3,442B
Interest Income, Total	1,982B	3,029B	3,968B	4,306B	4,614B
Interest On Deposits	2.65B	3.84B	417B	455B	432B
Total Interest On Borrowings	471B	960B	1,437B	1,523B	1,604B
Interest Expense, Total	474B	964B	1,853B	1,977B	2,036B
Net Interest Income	1,508B	2,065B	2,114B	2,328B	2,578B
Income From Trading Activities	-16,662B	-47,539B	-38,797B	-25,595B	-568B
Gain (Loss) on Sale of Loans	9.33B	5.41B	10.19B	13.25B	6.92B
Gain (Loss) on Sale of Assets	-24.2B	-116B	-114B	-37.58B	28.17B
Gain (Loss) on Sale of Invest. & Securities - (Rev)	-244B	-422B	-148B	-341B	409B
Income (Loss) on Equity Invest. (Income Block)	85.16B	52.21B	45.75B	46.6B	287B
Total Other Non Interest Income	30,940B	63,790B	50,856B	38,204B	15,100B
Non Operating Income (Expenses)	37.88B	57.84B	68.12B	57.74B	61.28B
Non Interest Income, Total	14,143B	15,828B	11,921B	12,348B	15,325B
Revenues Before Provison For Loan Losses	15,651B	17,892B	14,035B	14,676B	17,903B
Provision For Loan Losses	45.08B	53.71B	171B	108B	193B
Total Revenues	15,606B	17,838B	13,864B	14,569B	17,710B
Salaries And Other Employee Benefits	974B	930B	439B	542B	733B
Amort. of Goodwill & Intang. Assets	78.32B	75.25B	15.13B	14.92B	15.15B
Occupancy Expense	97.75B	96.63B	28.51B	27.54B	31.89B
Selling General & Admin Expenses, Total	732B	771B	65.09B	83.38B	134B
(Gain) Loss on Sale of Loans	217M	21M	52M	9.24B	-
Total Other Non Interest Expense	11,815B	13,704B	10,366B	10,716B	13,601B
Non Operating (Income) Expenses	3.13B	29.74B	33.09B	34.79B	33.36B
Non Interest Expense, Total	13,700B	15,608B	10,947B	11,427B	14,548B
EBT, Excl. Unusual Items	1,906B	2,231B	2,917B	3,141B	3,162B
Asset Writedown	-2.5B	-3.34B	-72.58B	-3M	-9M
EBT, Incl. Unusual Items	1,903B	2,227B	2,844B	3,141B	3,162B
Income Tax Expense	520B	585B	719B	808B	811B
Earnings From Continuing Operations	1,383B	1,642B	2,125B	2,333B	2,350B
Earnings Of Discontinued Operations	-	-1.89B	642M	-	-
Net Income to Company	1,383B	1,640B	2,125B	2,333B	2,350B
Minority Interest	-594B	-580B	-83.63B	-27.34B	-49.77B
Net Income - (IS)	789B	1,060B	2,042B	2,306B	2,300B
Preferred Dividend and Other Adjustments	26.58B	25.46B	26.53B	38.84B	48.12B
Net Income to Common Incl Extra Items	763B	1,035B	2,015B	2,267B	2,252B
Net Income to Common Excl. Extra Items	763B	1,037B	2,015B	2,267B	2,252B
Per Share Items
Net EPS - Basic	5.93K	8.41K	11.02K	12.26K	12.9K
Basic EPS - Continuing Operations	5.93K	8.42K	11.02K	12.26K	12.9K
Basic Weighted Average Shares Outstanding	129M	123M	183M	185M	175M
Net EPS - Diluted	5.9K	8.36K	10.97K	12.24K	12.9K
Diluted EPS - Continuing Operations	5.9K	8.37K	10.97K	12.24K	12.9K
Diluted Weighted Average Shares Outstanding	129M	124M	184M	185M	175M
Normalized Basic EPS	4.64K	6.61K	9.51K	10.47K	11.04K
Normalized Diluted EPS	4.62K	6.57K	9.47K	10.45K	11.04K
Dividend Per Share	210	105	2.36K	1.35K	-
Payout Ratio	39.72	11.41	4.26	22.13	14.61
Supplemental Items
Effective Tax Rate - (Ratio)	27.32	26.27	25.29	25.71	25.67
Normalized Net Income	597B	814B	1,739B	1,936B	1,926B

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	5,758B	6,514B	4,928B	5,000B	9,292B
Investment Securities, Total	3,160B	3,998B	2,617B	2,380B	6,178B
Trading Asset Securities, Total	48,885B	54,340B	74,829B	70,259B	92,328B
Total investments	52,044B	58,338B	77,446B	72,639B	98,506B
Gross Loans	15,486B	14,022B	13,312B	29,713B	18,012B
Allowance For Loan Losses	-162B	-181B	-283B	-301B	-409B
Other Adjustments to Gross Loans	-31M	-	-	-	-
Net Loans	15,324B	13,841B	13,029B	29,413B	17,603B
Gross Property Plant And Equipment	2,572B	2,810B	2,729B	3,099B	3,385B
Accumulated Depreciation	-241B	-269B	-289B	-275B	-307B
Net Property Plant And Equipment	2,331B	2,541B	2,440B	2,823B	3,077B
Other Intangibles, Total	386B	342B	80.5B	77.95B	85.93B
Investment in Real Estate	420B	754B	690B	770B	721B
Accrued Interest Receivable	381B	322B	461B	603B	665B
Other Receivables	1,012B	821B	616B	1,043B	1,202B
Other Current Assets, Total	235B	504B	615B	486B	700B
Deferred Tax Assets Long-Term (Collected)	340B	1,158B	14.32B	243B	349B
Deferred Charges Long-Term	27.94B	26.16B	21.58B	17.05B	17.45B
Other Long-Term Assets, Total	3,772B	7,594B	1,893B	2,463B	3,240B
Total Assets	82,031B	92,757B	102,236B	115,578B	135,458B
Liabilities
Accrued Expenses, Total	1,194B	1,447B	1,636B	1,789B	1,916B
Interest Bearing Deposits	2,536B	1,883B	2,083B	13,316B	16,262B
Total Deposits	2,536B	1,883B	2,083B	13,316B	16,262B
Short-Term Borrowings	15,895B	16,144B	17,024B	20,194B	23,960B
Long-Term Debt	41,585B	49,426B	48,138B	44,966B	53,001B
Current Income Taxes Payable	392B	299B	205B	457B	86.72B
Other Current Liabilities - (Bank / Utility Template)	10,580B	14,579B	19,865B	20,192B	23,701B
Unearned Revenue Non Current	357B	429B	444B	389B	404B
Pension & Other Post Retirement Benefits	360M	160M	102M	93.61M	87.72M
Deferred Tax Liability Non-Current	85.78B	83.4B	371B	281B	439B
Other Non Current Liabilities	2,522B	2,511B	2,373B	3,064B	4,426B
Total Liabilities	75,148B	86,801B	92,139B	104,648B	124,197B
Common Stock, Total	71.44B	71.44B	113B	113B	113B
Additional Paid In Capital	663B	63.24B	125B	125B	125B
Retained Earnings	2,808B	4,267B	7,611B	8,791B	9,238B
Treasury Stock	-130B	-164B	-547B	-769B	-534B
Comprehensive Income and Other	309B	-963B	2,279B	1,835B	1,381B
Total Common Equity	3,721B	3,275B	9,582B	10,094B	10,323B
Minority Interest	3,162B	2,681B	515B	836B	939B
Total Equity	6,883B	5,956B	10,097B	10,930B	11,261B
Total Liabilities And Equity	82,031B	92,757B	102,236B	115,578B	135,458B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	126M	121M	190M	180M	168M
ECS Total Common Shares Outstanding	126M	121M	190M	180M	168M
Book Value / Share	29.59K	27.05K	50.46K	56.15K	61.29K
Tangible Book Value	3,335B	2,932B	9,501B	10,016B	10,237B
Tangible Book Value Per Share	26.52K	24.22K	50.03K	55.72K	60.78K
Total Debt	57,481B	65,570B	65,162B	65,160B	76,962B
Net Debt	460B	1,644B	-16,200B	-11,733B	-26,137B
Equity Method Investments, Total	782B	926B	1,012B	745B	4,700B

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	789B	1,060B	2,125B	2,306B	2,300B
Depreciation, Depletion & Amortization	69.04B	74.4B	71.65B	69B	74.1B
Amortization of Goodwill and Intangible Assets - (CF)	78.31B	75.27B	15.14B	14.91B	15.15B
Total Depreciation, Depletion & Amortization	147B	150B	86.78B	83.91B	89.26B
(Gain) Loss On Sale of Asset - (CF)	-70.4B	-1.87B	52.03B	70.69B	-261B
(Gain) Loss on Sale of Investments - (CF)	228B	172B	-279B	151B	25.07B
Total Asset Writedown	2.5B	3.34B	72.58B	3.5M	6.25M
Provision for Credit Losses	60.53B	67.12B	178B	118B	202B
Change in Trading Asset Securities	-2,192B	-2,955B	-9,674B	-4,388B	-5,632B
Change in Other Net Operating Assets (Collected)	-4,542B	5,807B	4,751B	-2,889B	-4,845B
Other Operating Activities	3,074B	3,221B	-1,251B	-1,138B	-1,304B
Cash from Operations	-2,502B	7,525B	-3,939B	-5,686B	-9,427B
Capital Expenditure	-30.77B	-365B	-43.35B	-72.05B	-24.08B
Sale of Property, Plant, and Equipment	26.92B	120M	1.11B	103M	125M
Cash Acquisitions	-169B	46.75B	901B	7.84B	195B
Purchase / Sale of Intangible Assets	-9.81B	-27.91B	-10.21B	-6.96B	-21.8B
Investment in Marketable and Equity Securities, Total	-3,739B	-4,889B	-2,966B	-2,647B	-6,793B
Other Investing Activities, Total	90.21B	-83.85B	-583B	-24.57B	91.36B
Cash from Investing	-3,832B	-5,318B	-2,700B	-2,743B	-6,552B
Long-Term Debt Issued, Total	7,316B	445B	3,062B	8,106B	20,213B
Total Debt Issued	7,316B	445B	3,062B	8,106B	20,213B
Long-Term Debt Repaid, Total	-40.31B	-42.7B	-42.18B	-40.09B	-4,836B
Total Debt Repaid	-40.31B	-42.7B	-42.18B	-40.09B	-4,836B
Issuance of Common Stock	-	10.04M	21.71M	-	-
Repurchase of Common Stock	-124B	-183B	-672B	-858B	-1,310B
Common & Preferred Stock Dividends Paid	-313B	-121B	-86.94B	-510B	-336B
Common & Preferred Stock Dividends Paid	-313B	-121B	-86.94B	-510B	-336B
Net Increase (Decrease) in Deposit Accounts - (CF)	578B	-594B	2,668B	1,768B	2,955B
Other Financing Activities, Total	-554B	-205B	562M	318B	93.83B
Cash from Financing	6,862B	-701B	4,930B	8,783B	16,779B
Foreign Exchange Rate Adjustments	7.57B	38.71B	8.37B	30.71B	-23.63B
Miscellaneous Cash Flow Adjustments	-	-11.09B	37.96B	-	-
Net Change in Cash	536B	1,533B	-1,663B	385B	776B
Supplemental Items
Cash Interest Paid	492B	963B	1,751B	1,898B	1,996B
Cash Income Tax Paid (Refund)	545B	713B	611B	418B	919B
Net Debt Issued / Repaid	7,275B	402B	3,020B	8,066B	15,377B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.82	1.88	2.22	2.14	1.87
Return On Equity %	20.1	25.58	22.8	22.19	21.18
Return on Common Equity	21.57	29.65	27.74	23.05	22.06
Shareholders Value Added	443B	716B	1,185B	1,140B	1,090B
Margin Analysis
SG&A Margin	11.56	10.08	3.84	4.48	5.07
Net Interest Income / Total Revenues %	9.66	11.57	15.25	15.98	14.56
EBT Excl. Non-Recurring Items Margin %	12.21	12.51	21.04	21.56	17.85
Income From Continuing Operations Margin %	8.86	9.21	15.33	16.02	13.27
Net Income Margin %	5.06	5.94	14.73	15.83	12.99
Net Avail. For Common Margin %	4.89	5.81	14.53	15.56	12.72
Normalized Net Income Margin	3.83	4.56	12.54	13.29	10.88
Asset quality
Allowance for Credit Losses / Total Loans %	1.05	1.29	2.12	1.01	2.27
Capital And Funding
Total Average Common Equity / Total Average Assets %	4.66	4	7.6	9.03	8.13
Total Average Equity / Total Average Assets %	9.08	7.35	9.75	9.65	8.84
Total Equity + Allowance for Loan Losses / Total Loans %	25.07	24.64	74.1	34.98	59.58
Gross Loans / Total Deposits %	610.58	744.74	639.23	223.15	110.76
Net Loans / Total Deposits %	604.19	735.14	625.65	220.89	108.24
Fixed Charges Coverage
EBT + Interest on Borrowings / Interest on Borrowings	5.04	3.32	2.98	3.06	2.97
EBT + Interest Expense / Interest Expense	5.01	3.31	2.53	2.59	2.55
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	9.66	36.92	3.73	10.13	10.72
Non Interest Income, 1 Yr. Growth %	5.23	12.11	-5.07	3.58	18.15
Provision For Loan Losses, 1 Yr. Growth %	-29.48	19.14	218.04	-37.1	79.26
Total Revenues, 1 Yr. Growth %	5.79	14.49	-4.66	5.08	16.57
Earnings From Cont. Operations, 1 Yr. Growth %	49.49	19.13	-0.49	9.82	0.72
Net Income, 1 Yr. Growth %	61.16	34.37	46.71	12.95	-0.25
Normalized Net Income, 1 Yr. Growth %	60.37	37.87	60.8	11.31	-0.5
Diluted EPS Before Extra, 1 Yr. Growth %	65.31	42.66	-0.71	11.59	5.43
Gross Loans, 1 Yr. Growth %	24.72	-9.46	27.56	15.35	17.07
Allowance For Loan Losses, 1 Yr. Growth %	-17.29	11.44	56.85	6.32	36.14
Net Loans, 1 Yr. Growth %	25.4	-9.68	27.04	15.45	16.69
Total Assets, 1 Yr. Growth %	17.92	13.08	14.9	13.05	17.2
Total Deposits, 1 Yr Growth %	30.36	-25.77	10.61	16.57	22.13
Tangible Book Value, 1 Yr. Growth %	15.24	-12.08	95.37	5.42	2.2
Common Equity, 1 Yr. Growth %	11.1	-12	93.81	5.35	2.26
Total Equity, 1 Yr. Growth %	0.09	-13.47	18.21	8.25	3.03
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	6.25	22.52	18.41	6.88	10.42
Non Interest Income, 2 Yr. CAGR %	10.76	8.52	-8.11	-0.84	13.38
Provision For Loan Losses, 2 Yr. CAGR %	-25.11	-8.34	94.86	41.43	6.18
Total Revenues, 2 Yr. CAGR %	10.49	9.97	-5.67	0.09	13.02
Earnings From Cont. Operations, 2 Yr. CAGR %	32.57	33.23	24.14	4.54	5.17
Net Income, 2 Yr. CAGR %	40.75	47.16	60.84	28.72	6.14
Normalized Net Income, 2 Yr. CAGR %	41.8	47.89	71.6	33.79	5.24
Diluted EPS Before Extra, 2 Yr. CAGR %	47.44	53.1	36.71	5.26	8.47
Gross Loans, 2 Yr. CAGR %	7.39	6.27	-7.28	68.74	-16.38
Allowance For Loan Losses, 2 Yr. CAGR %	-9.63	-3.99	32.07	29.13	20.31
Net Loans, 2 Yr. CAGR %	7.63	6.42	-7.79	69.35	-16.88
Total Assets, 2 Yr. CAGR %	15.24	15.47	11.64	13.97	15.11
Total Deposits, 2 Yr CAGR %	5.17	-1.63	-9.39	165.94	19.32
Tangible Book Value, 2 Yr. CAGR %	22.65	0.66	68.78	43.52	3.8
Common Equity, 2 Yr. CAGR %	16.35	-1.12	60.47	42.89	3.79
Total Equity, 2 Yr. CAGR %	7.45	-6.94	21.12	13.12	5.61
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	8.64	15.62	15.41	15.58	8.15
Non Interest Income, 3 Yr. CAGR %	14.89	11.14	-3.92	-4.37	6.86
Provision For Loan Losses, 3 Yr. CAGR %	-	-12.57	38.86	33.67	53.06
Total Revenues, 3 Yr. CAGR %	14.12	11.75	-2.05	-2.21	6.79
Earnings From Cont. Operations, 3 Yr. CAGR %	29.29	27.78	31.93	19.17	3.25
Net Income, 3 Yr. CAGR %	35.94	38.59	60.95	42.96	18.24
Normalized Net Income, 3 Yr. CAGR %	39.35	39.97	67.17	48.54	21.21
Diluted EPS Before Extra, 3 Yr. CAGR %	41.86	45.53	45.35	27.76	5.32
Gross Loans, 3 Yr. CAGR %	4.17	1.45	2.35	24.26	19.95
Allowance For Loan Losses, 3 Yr. CAGR %	-3.81	-3.09	12.99	22.86	31.43
Net Loans, 3 Yr. CAGR %	4.27	1.52	2.16	24.28	19.73
Total Assets, 3 Yr. CAGR %	16.26	14.52	13.69	12.11	15.04
Total Deposits, 3 Yr CAGR %	2.04	-6.36	2.29	73.8	105.18
Tangible Book Value, 3 Yr. CAGR %	21.75	9.77	48.62	44.28	28.16
Common Equity, 3 Yr. CAGR %	14.58	6.01	41.96	39.47	27.81
Total Equity, 3 Yr. CAGR %	8.06	-0.03	13.66	16.67	9.65
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	12.45	16.79	12.44	11.75	13.39
Non Interest Income, 5 Yr. CAGR %	11.96	12.65	5.03	1.38	2.66
Provision For Loan Losses, 5 Yr. CAGR %	-	-	-	6.02	24.73
Total Revenues, 5 Yr. CAGR %	11.94	13.01	5.71	2.65	3.72
Earnings From Cont. Operations, 5 Yr. CAGR %	21.52	16.79	27.12	24.28	20.49
Net Income, 5 Yr. CAGR %	25.58	23.44	45.4	42.08	36.26
Normalized Net Income, 5 Yr. CAGR %	29.87	26.17	51.12	45.49	38.92
Diluted EPS Before Extra, 5 Yr. CAGR %	26.83	26.44	39.61	35.13	29.29
Gross Loans, 5 Yr. CAGR %	6.05	2.32	-0.57	17.22	7.72
Allowance For Loan Losses, 5 Yr. CAGR %	2.66	4.86	9.19	8.65	15.86
Net Loans, 5 Yr. CAGR %	6.09	2.29	-0.73	17.33	7.57
Total Assets, 5 Yr. CAGR %	16.92	17.14	14.39	13.35	14.26
Total Deposits, 5 Yr CAGR %	-4.45	-9.91	-2.69	42.16	52.91
Tangible Book Value, 5 Yr. CAGR %	29.96	17.2	38.75	35.2	28.74
Common Equity, 5 Yr. CAGR %	16.17	9.74	31.11	29.72	25.25
Total Equity, 5 Yr. CAGR %	11.54	4.27	13.11	12.89	10.37