Meritz Financial Group Inc. (KRX:138040)

Meritz Financial Group Income Statement

Financials in millions KRW. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	1,211,948	1,163,154	1,050,351	862,196	665,960	719,801
Interest Income on Investments	3,258,508	3,142,445	2,917,223	2,159,748	1,315,763	1,165,072
Total Interest Income	4,470,456	4,305,599	3,967,574	3,021,944	1,981,723	1,884,873
Interest Paid on Deposits	450,723	454,553	416,704	25,309	2,530	5,092
Interest Paid on Borrowings	1,566,190	1,522,753	1,436,717	958,528	471,424	504,562
Total Interest Expense	2,016,913	1,977,306	1,853,421	983,837	473,954	509,654
Net Interest Income	2,453,543	2,328,292	2,114,154	2,038,107	1,507,769	1,375,219
Net Interest Income Growth (YoY)	10.88%	10.13%	3.73%	35.17%	9.64%	2.95%
Income From Trading Activities	-20,766,275	-25,594,964	-38,797,107	-47,539,139	-16,662,031	-10,139,385
Gain (Loss) on Sale of Assets	-5,567	-37,579	-114,161	-115,275	-28,892	-14,878
Gain (Loss) on Sale of Investments	-441,504	-341,289	-147,779	-514,141	-247,677	-172,709
Gain (Loss) on Sale of Equity Investments	46,605	46,605	45,754	52,214	85,159	32,712
Other Non-Interest Income	33,717,873	38,204,183	50,855,865	60,616,589	30,924,457	23,716,795
Total Non-Interest Income	12,702,448	12,347,948	11,920,889	12,557,482	14,118,174	13,439,585
Non-Interest Income Growth (YoY)	8.72%	3.58%	-5.07%	-11.05%	5.05%	16.58%
Revenues Before Loan Losses	15,155,991	14,676,241	14,035,042	14,595,589	15,625,944	14,814,804
Provision for Loan Losses	108,331	107,659	171,168	53,820	45,080	63,924
Revenue	15,047,660	14,568,582	13,863,874	14,541,769	15,580,864	14,750,880
Revenue Growth (YoY)	9.98%	5.08%	-4.66%	-6.67%	5.63%	15.39%
Salaries and Employee Benefits	559,359	542,003	439,115	598,346	964,410	668,609
Occupancy Expenses	27,952	27,539	28,511	28,114	97,173	93,539
Amortization of Goodwill & Intangibles	14,802	14,915	15,133	4,791	78,301	90,158
Selling, General & Administrative	89,683	83,381	65,093	65,467	729,530	848,242
Other Non-Interest Expense	11,140,757	10,715,559	10,366,375	10,898,150	11,812,689	11,746,768
Total Non-Interest Expense	11,876,612	11,427,433	10,947,372	11,624,654	13,685,412	13,458,243
EBT Excluding Unusual Items	3,171,047	3,141,148	2,916,502	2,917,115	1,895,452	1,292,637
Asset Writedown	-3	-3	-72,578	-3,340	2,193	-3,520
Pretax Income	3,171,044	3,141,145	2,843,924	2,913,775	1,897,645	1,289,117
Income Tax Expense	808,068	807,712	719,189	778,541	519,017	363,813
Earnings From Continuing Operations	2,362,977	2,333,434	2,124,735	2,135,235	1,378,627	925,304
Earnings From Discontinued Operations	-	-	641.51	-1,895	4,620	-
Minority Interest in Earnings	-32,815	-27,337	-83,628	-741,618	-594,025	-435,588
Net Income	2,330,161	2,306,096	2,041,749	1,391,722	789,222	489,716
Preferred Dividends & Other Adjustments	41,734	38,837	26,528	25,461	26,575	14,815
Net Income to Common	2,288,428	2,267,259	2,015,221	1,366,262	762,647	474,901
Net Income Growth	11.03%	12.95%	46.71%	76.34%	61.16%	22.93%
Basic Shares Outstanding	182	185	183	123	129	132
Diluted Shares Outstanding	182	185	184	124	129	132
Shares Change (YoY)	0.33%	0.85%	48.30%	-4.11%	-2.19%	-3.89%
EPS (Basic)	12548.28	12258.77	11019.28	11096.35	5932.04	3596.00
EPS (Diluted)	12541.46	12238.00	10970.49	11029.70	5903.76	3571.45
EPS Growth	10.14%	11.55%	-0.54%	86.83%	65.30%	31.50%
Dividend Per Share	1350.000	1350.000	-	-	-	-
Effective Tax Rate	25.48%	25.71%	25.29%	26.72%	27.35%	28.22%

Updated Nov 14, 2024. Source: S&P Global Market Intelligence. Banks template. Financial Sources.