Hana Card Reports First-Half Net Profit of 110.2 Billion KRW, Down 5.5% Year-on-Year

Hana Card announced on the 25th that its net profit for the first half of this year was 110.2 billion KRW, a decrease of 5.5% compared to the same period last year.

Net profit for the second quarter was 55.7 billion KRW, down 11.7% (7.4 billion KRW) from 63.1 billion KRW in the same period last year.

Hana Card explained that despite a decrease in foreign exchange gains due to a decline in exchange rates (9.9 billion KRW), the company was able to achieve net profit in the first half of the year thanks to an increase in domestic and overseas transaction volume, higher annual fee revenue, and a reduction in selling and administrative expenses.

The company further explained that growth in overseas spending centered on Travelog, an increase in overseas card transactions due to more foreign tourists, and the continued strong performance of corporate cards all contributed to the results, along with stabilized interest expenses resulting from lower interest rates.

A Hana Card representative stated, "We plan to continue improving profitability through highly efficient core sales, various new businesses, and stable risk management," adding, "We will expand our customer base by broadening partnership channels such as MG Saemaeul Geumgo and ensuring stable operations, while focusing on new business opportunities based on SOHO, foreign, and senior customer segments."