Woori Card Reports 76 Billion Won Net Profit in First Half, Down 9.5% Year-on-Year

Woori Card announced on the 25th that its net profit for the first half of this year recorded 76 billion won, a decrease of 9.5% (8 billion won) compared to the same period last year.

Woori Card explained that the decline in performance was due to a deterioration in non-operating profit and loss, which was affected by a fine imposed by the Personal Information Protection Commission.

Operating profit for the first half of this year was 115 billion won, an increase of 8.2% compared to the same period last year (106.3 billion won). This was attributed to an increase in net operating income resulting from a strategy to expand the financial asset portfolio.

Exterior view of Woori Card headquarters.

Asset quality also improved. As of the end of the first half of this year, the delinquency rate stood at 1.83%, an improvement of 0.04 percentage points compared to the previous quarter (1.87%).

A Woori Card official stated, "In the second half of the year, we plan to manage the fluctuation of delinquency rates and credit loss costs in a limited manner by expanding the handling of high-quality assets and strengthening policies for marginal borrowers."