Meritz Financial Group Income Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest Income on Loans	1,172,167	1,163,154	1,050,351	862,196	665,960
Interest Income on Investments	3,441,941	3,142,445	2,917,223	2,159,748	1,315,763
Total Interest Income	4,614,108	4,305,599	3,967,574	3,021,944	1,981,723
Interest Paid on Deposits	431,912	454,553	416,704	25,309	2,530
Interest Paid on Borrowings	1,604,328	1,522,753	1,436,717	958,528	471,424
Total Interest Expense	2,036,240	1,977,306	1,853,421	983,837	473,954
Net Interest Income	2,577,867	2,328,292	2,114,154	2,038,107	1,507,769
Net Interest Income Growth (YoY)	10.72%	10.13%	3.73%	35.17%	9.64%
Income From Trading Activities	-567,759	-41,327	-38,797,107	-47,539,139	-16,662,031
Gain (Loss) on Sale of Assets	28,168	21,723	-114,161	-115,275	-28,892
Gain (Loss) on Sale of Investments	409,100	95,932	-147,779	-514,141	-247,677
Gain (Loss) on Sale of Equity Investments	286,794	46,605	45,754	52,214	85,159
Other Non-Interest Income	15,100,267	12,786,377	50,855,865	60,616,589	30,924,457
Total Non-Interest Income	15,324,778	12,971,037	11,920,889	12,557,482	14,118,174
Non-Interest Income Growth (YoY)	18.15%	8.81%	-5.07%	-11.05%	5.05%
Revenues Before Loan Losses	17,902,645	15,299,330	14,035,042	14,595,589	15,625,944
Provision for Loan Losses	192,986	107,660	171,168	53,820	45,080
Revenue	17,709,659	15,191,670	13,863,874	14,541,769	15,580,864
Revenue Growth (YoY)	16.57%	9.58%	-4.66%	-6.67%	5.63%
Salaries and Employee Benefits	732,753	542,003	439,115	598,346	964,410
Occupancy Expenses	31,886	27,539	28,511	28,114	97,173
Amortization of Goodwill & Intangibles	15,152	14,915	15,133	4,791	78,301
Selling, General & Administrative	133,616	83,381	65,093	65,467	729,530
Other Non-Interest Expense	13,601,327	11,347,889	10,366,375	10,898,150	11,812,689
Total Non-Interest Expense	14,548,099	12,050,521	10,947,372	11,624,654	13,685,412
EBT Excluding Unusual Items	3,161,560	3,141,148	2,916,502	2,917,115	1,895,452
Asset Writedown	-9	-3	-72,578	-3,340	2,193
Pretax Income	3,161,551	3,141,145	2,843,924	2,913,775	1,897,645
Income Tax Expense	811,417	807,712	719,189	778,541	519,017
Earnings From Continuing Operations	2,350,135	2,333,434	2,124,735	2,135,235	1,378,627
Earnings From Discontinued Operations	-	-	641.51	-1,895	4,620
Minority Interest in Earnings	-49,775	-27,337	-83,628	-741,618	-594,025
Net Income	2,300,360	2,306,096	2,041,749	1,391,722	789,222
Preferred Dividends & Other Adjustments	48,118	38,837	26,528	25,461	26,575
Net Income to Common	2,252,242	2,267,259	2,015,221	1,366,262	762,647
Net Income Growth	-0.25%	12.95%	46.71%	76.34%	61.16%
Basic Shares Outstanding	175	185	183	123	129
Diluted Shares Outstanding	175	185	184	124	129
Shares Change (YoY)	-5.78%	0.85%	48.30%	-4.11%	-2.19%
EPS (Basic)	12903.31	12258.77	11019.28	11096.35	5932.04
EPS (Diluted)	12903.00	12238.00	10970.49	11029.70	5903.76
EPS Growth	5.43%	11.55%	-0.54%	86.83%	65.30%
Effective Tax Rate	25.66%	25.71%	25.29%	26.72%	27.35%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.