Meritz Financial Group Cash Flow 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
Net Income	2,300,360	2,306,096	2,125,377	2,133,340	789,222
Depreciation & Amortization	89,255	83,915	86,785	88,689	147,355
Gain (Loss) on Sale of Assets	-260,909	70,689	52,032	-1,866	-70,403
Gain (Loss) on Sale of Investments	25,065	150,747	-279,158	237,785	228,371
Total Asset Writedown	6.25	3.5	72,578	3,340	2,501
Provision for Credit Losses	201,628	117,874	177,859	55,578	60,528
Change in Trading Asset Securities	-5,632,351	-4,387,560	-9,673,594	-5,737,181	-2,191,821
Change in Other Net Operating Assets	-4,845,458	-2,889,381	4,750,664	6,487,069	-4,541,507
Other Operating Activities	-1,304,249	-1,138,380	-1,251,473	-1,571,633	3,074,249
Operating Cash Flow	-9,426,652	-5,685,996	-3,938,932	1,695,122	-2,501,504
Capital Expenditures	-24,083	-72,049	-43,348	-364,867	-30,768
Sale of Property, Plant and Equipment	125.41	103.29	1,108	119.97	26,921
Cash Acquisitions	195,149	7,844	901,239	11,041	-169,377
Investment in Securities	-6,793,063	-2,646,937	-2,966,110	-5,753,866	-3,739,329
Purchase / Sale of Intangibles	-21,803	-6,962	-10,211	-27,907	-9,810
Other Investing Activities	91,359	-24,575	-583,099	-84,546	90,207
Investing Cash Flow	-6,552,316	-2,742,577	-2,700,422	-6,220,025	-3,832,156
Long-Term Debt Issued	20,212,854	12,374,394	3,062,411	784,532	7,315,797
Long-Term Debt Repaid	-4,836,129	-4,308,645	-42,179	-42,699	-40,307
Net Debt Issued (Repaid)	15,376,725	8,065,750	3,020,232	741,833	7,275,489
Issuance of Common Stock	-	-	21.71	10.04	-
Repurchase of Common Stock	-1,310,114	-858,301	-672,087	-516,079	-124,195
Total Dividends Paid	-336,090	-510,245	-86,940	-106,516	-313,474
Net Increase (Decrease) in Deposit Accounts	2,954,646	1,767,825	2,667,895	6,231,472	577,765
Other Financing Activities	93,830	317,661	562	-41,371	-553,919
Financing Cash Flow	16,778,996	8,782,690	4,929,684	6,309,349	6,861,666
Foreign Exchange Rate Adjustments	-23,626	30,712	8,370	38,711	7,566
Net Cash Flow	776,402	384,829	-1,663,339	1,812,067	535,572
Free Cash Flow	-9,450,735	-5,758,045	-3,982,280	1,330,255	-2,532,273
Free Cash Flow Margin	-53.36%	-37.90%	-28.72%	9.15%	-16.25%
Free Cash Flow Per Share	-54144.19	-31081.32	-21679.14	10739.19	-19603.16
Cash Interest Paid	1,996,456	1,898,347	1,750,670	982,600	492,489
Cash Income Tax Paid	919,096	418,330	611,225	712,156	545,279

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