Meritz cheers record profit in 2024, boasts top 3 market cap

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The story "Meritz cheers record profit in 2024, boasts top 3 market cap" was covered 1 days ago by Korea Economic Daily, a news publisher based in South Korea.

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Meritz cheers record profit in 2024, boasts top 3 market cap - Korea Economic Daily

Quick Summary:

The South Korean financial holding firm, which climbed to become the country’s third-largest financial holding firm in terms of market value, forecast its net profit to top 3 trillion won ($2.1 billion) on a consolidated basis within three years, Meritz Financial Group Chief Executive and Vice Chairman Kim Yong-beom said after reporting the company’s stellar earnings on Wednesday.

Meritz Financial Group Inc.has reported the best-ever net profit for last year thanks to handsome gains from investments by its insurance and securities arms, further boosting its shares already buoyed nearly 80% in a year.

Once an underdog financial group compared to the country’s long-time top-dog peers like KB Financial Group Inc., Meritz Financial triumphantly returned to the main Kospi bourse in 2023 as the country’s No.4 market-cap financial holding stock, immediately elbowing out Woori Financial Group Inc.to the fifth.