Vice Chairman Kim Yong-beom: “If MG Insurance Acquisition Does Not Help, We Will Halt It”
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Main office of Meritz Financial Group. /Meritz Financial,
, ‘Meritz Financial Group has achieved the highest half-year performance on record.’,
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, ‘According to Meritz Financial Group, the consolidated net profit in the first half of this year reached 13.275 trillion won, which is a 12.5% increase compared to the previous record high in the first half of last year (11.803 trillion won). The net profit for the second quarter also hit a record high of 736.2 billion won on a quarterly basis, showing a 27.7% increase compared to the same period last year.’,
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, ‘One of its key subsidiaries, Meritz Fire & Marine Insurance, also set a new record. The net profit for the first half of this year amounted to 997.7 billion won, a 22.3% increase from the same period last year. During the same period, insurance profit increased by 21%, and long-term insurance profit increased by 150 billion won. The net profit for the second quarter also set a record high of 506.8 billion won.’,
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, ‘Meritz Securities reported a consolidated net profit of 369.9 billion won in the first half of the year, a 2.4% increase from the previous year. The operating profit for the same period reached 501.8 billion won, showing a 13.2% increase. The net profit for the second quarter increased by 50.7% to 243.4 billion won, and the operating profit increased by 70.1% to 346.1 billion won.’,
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, ‘Meritz Financial Group explained, “The sustained increase in insurance profit despite the recognition of real estate project finance provisions, along with improved interest profit, led to simultaneous improvements in the performance of fire and securities.”.’,
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, ‘Meanwhile, Vice Chairman Kim Yong-beom of Meritz Financial Group, in a conference call held after announcing the financial results, stated regarding the participation in the bidding for the acquisition of MG Insurance, “We will proceed with the acquisition if it contributes to enhancing shareholder value; otherwise, we will halt it.”.’,
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, ‘He said, “Meritz is interested in economies and growth that bring about an increase in earnings per share, and we avoid simple external competition,” adding, “(Regarding MG Insurance), we will carefully examine whether it is the right price, whether we can secure talent, and whether we can handle the size and nature of the risks.”‘,
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