Mirae Asset Securities recorded strong performance in the first quarter of this year (January to March), supported by growth in overseas corporations, overseas brokerage, and asset management (WM) revenue.

A view of the Mirae Asset Center One building in Suha-dong, Jung-gu, Seoul, where Mirae Asset Securities headquarters is located. /Courtesy of Mirae Asset Securities

Mirae Asset Securities announced on the 8th that its consolidated pre-tax profit for the first quarter was 346.1 billion won, an increase of 50% compared to the same period last year. The net profit increased by 53.1% to 258.2 billion won, and operating profit rose by 28% to 346.2 billion won. Revenue was recorded at 6.0526 trillion won, a decrease of 3.6% from the same period a year ago.

Mirae Asset Securities particularly noted that its overseas division achieved a record pre-tax profit of 119.6 billion won, the highest quarterly result. Improvements in performance in overseas markets, increases in the valuation of artificial intelligence (AI) and innovative corporations' private equity investments (PI), and WM and trading strategies based on specialized country strategies contributed to this achievement. Overseas stock brokerage (commission trading) and WM revenue also recorded quarterly highs of 101.2 billion won and 78.4 billion won, respectively.

The balance of pension assets was recorded at 44.4 trillion won. The increase in retirement pension reserves in the first quarter was approximately 1.3 trillion won, ranking first among all financial sectors. This accounts for about 23% of the 42 retirement pension firms.

Trading performance recorded 325.7 billion won. The equity was 12.2 trillion won, and the annualized return on equity (ROE) is 8.5%. A representative from Mirae Asset Securities said, “We will continue to strive for sustainable growth to enhance the profitability of customer assets.”

Meanwhile, Mirae Asset Securities previously announced its plan to enhance corporate value through stock buybacks, stating it would retire more than 100 million shares by 2030. Mirae Asset noted, “We have been concurrently buying back shares and retiring them since last August to increase the clarity of shareholder return rates.”