Meritz Securities posts W514b net profit in H1, up 15% on year

Meritz Securities posted a net profit of 259.7 billion won ($184 million) in the second quarter of this year.

Meritz Financial Group disclosed Wednesday that its subsidiary Meritz Securities recorded a consolidated net profit of 259.7 billion won in the second quarter, up 1.4 percent from the same period a year earlier.

Sales came in at 16.16 trillion won, a preliminary figure representing a 145.1 percent increase year on year. Operating profit fell 18.2 percent to 245.7 billion won.

On a first-half cumulative basis, the company maintained its growth momentum. Meritz Securities' consolidated operating profit for the first half reached 501.3 billion won, while net profit totaled 514 billion won — up 11.8 percent and 15.9 percent, respectively, from the same period last year.

"Even amid heightened volatility in financial markets, we have sustained stable growth on the back of steady earnings gains in the retail segment and solid performance in asset management and financial income," a Meritz Securities official said. "We will respond flexibly to market conditions through rigorous risk management and portfolio diversification."