Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Contentious grain bill put directly to plenary meeting for vote

    Contentious grain bill put directly to plenary meeting for vote
  2. 2

    Yoon's approval rating plunges to all-time low

    Yoon's approval rating plunges to all-time low
  3. 3

    Will tug-of-war between doctors, government end soon?

    Will tug-of-war between doctors, government end soon?
  4. 4

    Climate impacts set to cut 2050 global GDP by nearly a fifth

    Climate impacts set to cut 2050 global GDP by nearly a fifth
  5. 5

    Trilateral talks acknowledge ‘serious’ slumps of won, yen

    Trilateral talks acknowledge ‘serious’ slumps of won, yen
  1. 6

    [Graphic News] More Koreans say they plan long-distance trips this year

    [Graphic News] More Koreans say they plan long-distance trips this year
  2. 7

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
  3. 8

    North Korea removes streetlights along cross-border roads with South

    North Korea removes streetlights along cross-border roads with South
  4. 9

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
  5. 10

    Farming households dip below 1m for first time in 2023

    Farming households dip below 1m for first time in 2023
지나쌤

Card firms' 2019 net down 5.3% on increased costs

By Yonhap

Published : March 30, 2020 - 13:11

    • Link copied

(Yonhap) (Yonhap)
South Korean credit card firms saw their combined net profit fall 5.3 percent in 2019 from a year earlier due mainly to increased loan-loss reserves and marketing spending, data showed Monday.

The combined net profit of eight card issuers, including Shinhan Card Co., Samsung Card Co. and KB Kookmin Card Co., came to 1.64 trillion won ($1.3 billion) in 2019, compared with 1.73 trillion won in 2018, according to the data released by the Financial Supervisory Service (FSS).

The value of credit card purchases rose 5.6 percent on-year to 701 trillion won in 2019, according to the data.

The overall credit card delinquency ratio came to 1.43 percent at the end of 2019, down 0.05 percentage point from a year earlier, with that for card loans falling 0.15 percentage point to 2.29 percent, according to the FSS. (Yonhap)

More from Headlines