Hana Card Reports 59.8 Billion Won Net Profit in Q3, Down 11.8% Year-on-Year

Growth Trend Since Q4 Last Year
Accumulated Net Profit Reaches 170 Billion Won

Hana Card announced on the 28th that its net profit for the third quarter was 59.8 billion won, an 11.8% decrease compared to 67.8 billion won in the same period last year.

Hana Card explained that net profit has been increasing since the fourth quarter of last year. The company reported 37.3 billion won in the fourth quarter of last year, 54.6 billion won in the first quarter, 55.7 billion won in the second quarter, and 59.8 billion won in the third quarter.

Accumulated net profit for the third quarter was 170 billion won, a 7.8% decrease compared to 184.4 billion won in the same period last year.

A Hana Card representative stated, "The growth of financial assets has slowed due to adjustments in the fee structure and a conservative approach focused on credit soundness." However, the representative also noted, "The accumulated net profit reached 170 billion won, thanks to increased domestic and overseas transaction volumes, higher annual fee income, and reduced selling and administrative expenses."

Hana Card plans to improve profitability for robust future growth by focusing on highly efficient direct sales, diversifying new businesses, and maintaining stable risk management.

For example, the number of new MG Saemaeul Geumgo private label credit card (PLCC) sign-ups in the third quarter increased to 102,000. A Hana Card representative said, "We plan to create various large-scale partnerships and new business opportunities."