key points & summary - mirae asset daewoo...2018/08/23 · pbs business expanded wm & ib...
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[ Brokerage ] - ADTV W14.0tr(+2.0%), Retail M/S 67.8%(+0.1%p) - Oversea Commission W11.1bn(-23.6%) - Commission M/S 8.3%(+0.1%p), Avg. commission rate 5.2bp(-0.3bp) - Brokerage Assets(including deposits) W144.0tr(+0.0%p) - Global Equity Balance W5.4tr(+13.2%)
[ Wealth Management ] - Total WM(financial product sales) Assets W113.6tr(-0.5%) - Pension Assets W10.9tr(+2.4%)
[ Investment Banking ] - IB commission profit over W100bn for the first time - League Table: Rights Offer M/S 23.4%, Domestic Bond MLA M/S 12.3% - 2Q Major Deals: IPO (SV Investment), Real Estate PF(Alpha-dome) Acquisition Financing(ING Life) Rights Offer(Samsung Heavy Industries) [ Trading ] - FI: Superior performance utilizing decrease in KRW-denominated bonds rates - Derivatives: First launch of Global-equity-payment ELS in the market (FY18 1H accumulated sales over W100bn) - Equity: Portfolio management combining both local leading shares and global shares [ Interest P/L ] - Dividend W45.9bn profit, Corporate loan & Credit grant W65.5bn profit
[ Others ] - HNW 171k person(+0.9%), New accounts 136K(+19.1% YoY), General&Admin.Ratio 51.5%(-4.3%p QoQ) - Revaluation loss of India investment fund –W19.3bn non-operating P/L applied - Overseas W13.6bn Profit,
Key Points & SummaryIncome Statement (Unit: Wbn)
(Separate)Net Operating Revenue W465bn / Operating Profit W226bn (Consolidated)Pretax Income W219.3bn / Net Income W157.1bn
Brokerage
Wealth Management
Investment Banking
Trading Income
Interest Income & Dividends
Commission Expenses, etc.
SG&A Expenses
Operating Profit
(Separate) Pre-tax Income
(Consolidated) Pretax Income
(Consolidated) Net Income
Net Income
*(QoQ)
(Unit: Wbn) (Unit: Wtr)
(Unit: Wtr)
2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018By commission By turnover Avg. commission rate
2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018
(Unit: Wbn) (Unit: Wtr)
(Unit: Wtr) (Unit: Wtr)
14.5 13.3 7.0 6.3
19.9 20.5 37.1
37.9
37.6
39.3
41.2
12.2
12.4
13.0
12.5
10.8
25.7
25.4
24.8
26.4
25.3
18.4
17.6
17.4
17.7
18.7
7.7
7.0
7.6
7.2
6.7
6.8
6.9
7.7
7.9
7.9
3.7
3.2
3.3
3.3
3.0
2Q 2017
3Q 2017
4Q 2017
1Q 2018
2Q 2018
Mutual Fund CMA Bond/CP etc. Trust
2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018
Reitrement Pension (DC+DB+IRP) Personal Pension
2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018Mutual Fund Wrap Account Trust/Pension ELS/DLS
(Unit: Wbn)
MA-DWOthers
MA-DWOthers
2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018Underwriting Advisory & Others
26.8 25.8 21.8 22.7 22.7
FI Balance Portion of Foreign-currency Bonds
(Unit: Wbn) (Unit: Wtr)
(Units: Wtr) (Unit: Wtr)
(Unit:KRW)
(Unit: KRW) (Unit:KRW)
( : )
(Unit:KRW)
2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018Face-to-Face Direct
(Unit: Wtr) (Unit: Wtr, person)
(Unit: Wbn) (Unit: K)
116.8 120.6 132.7 150.7 149.4
2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018
2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018
Market cap. W6.273tr*
Number of total shares outstanding 812,392,158 (Comm. shares : 658,316,408 / Pref. shares : 14,075,750 / 2nd Pref. shares : 140,000,000)
*Note : As of June 30th 2018 (Market Cap: common shares, pref. shares, 2nd pref. shares)
Major Shareholders*
Mirae Asset Capital (124,096,307, 18.85%) National Pension (65,769,075 9.99%)
36 Related Parties (2,154,890 0.27%) NAVER (47,393,364, 7.20%)
Treasury Stocks (109,580,809 16.65%) ESOP (1,846,210 0.28%)
Shareholders’ Equity*
W8.25tr (consolidated)
W8.16tr (separate) Client Assets* W257.5tr
Credit Ratings Baa2 (Moody’s) / AA (Korea Ratings, Korea Investors Service, NICE Information Service)
Employees* Domestic Network*
Total 160 (152 WM, 8 IWC) 4,564 persons
Note: 1) Percentage of ownership is calculated by total number of issued common shares excluding preferred stocks
2) As of June 30th 2018
Apr. 2016 Majority shareholder changed from KDB Bank to Mirae Asset Securities
Dec. 2016 Launch of the newly merged Mirae Asset Daewoo
May 2000 Majority shareholder of Daewoo Securities changed from Korea First Bank consortium to KDB Bank
May 2016 Renamed as Mirae Asset Daewoo
Dec. 1999 Establishment of Mirae Asset Securities
Oct. 2017 Establishment of subsidiary in India
Nov. 2017 Designated as Super-large Investment Bank (Equity over W4bn)
Jun. 2017 Strategic Partnership with Naver (MOU)
Apr.2018 Establishment of a holding company in USA (Mirae Asset Securities Holdings USA)
• Expand global management to build a base for growing into a global IB
• Differentiate our investment business by expanding investment
capabilities
• Establish a base for innovative growth through digitalization
• Strengthen our comprehensive
marketing as a life financial planner to support clients with
stable retirement financing
Global Investment
Digital Pension
4 Innovation
Factors
Asian Top-tier Investment Bank by 2020 * 4 key Innovation factors : G(Global) ∙ I(Investment) ∙ D(Digitalization) ∙ P(Pension)
Expansive global network with IB·Trading 12 overseas subsidiaries and three overseas representative offices
China U.K. IB & Trading business
Korea
Mongolia
Vietnam
Singapore Indonesia
On solid growth in Retail brokerage
Hong Kong
Brazil
On solid growth in Global bond trading
Expanding local IB business
U.S. (NY)
PBS Business
Expanded WM & IB Business
U.S. (LA) Launched derivatives broking
Advisory services for Korea-China cross-border deals
Acquired mutual fund sales license (Nov ‘17)
Launched business (Mar ‘18)
Serves as a IPO manager for local companies
U.S. Holding Company (NY)
Founded (Mar ‘18)