External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives.

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Equity Bottom-Up

<ul><li>We maintain our target price of W25,000 for iM Financial Group (iMFG), applying a target P/B of 0.6x to our 2026F BPS.</li><li>Despite strong won-denominated loan growth in 1Q26, the group’s CET1 ratio did not decline significantly QoQ, suggesting that it is likely to achieve its year-end target of 12.30%.</li><li>With our target price implying 29.7% upside, we maintain our Buy rating.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We maintain our target price of W25,000 for iM Financial Group (iMFG), applying a target P/B of 0.6x to our 2026F BPS.Despite strong won-denominated loan growth in 1Q26, the group’s CET1 ratio did not decline significantly QoQ, suggesting that it is likely to achieve its year-end target of 12.30%.With our target price implying 29.7% upside, we maintain our Buy rating.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

IM Financial Group (139130 KS/Buy)Strong Loan Growth Without Significant Capital Ratio Erosion

DGB Financial Group

IM Financial Group (139130 KS/Buy)Strong Loan Growth Without Significant Capital Ratio Erosion