Samsung Card Posts 210 Billion Won in Q1 Operating Profit, Down 14.3% Year-on-Year

Samsung Card recorded an operating profit of 210 billion won in the first quarter of this year, a 14.3% decrease compared to the same period last year. The operating profit fell 6.1% below market expectations, and net profit was 6.7% lower than anticipated. While operating revenue increased due to higher transaction volumes and outstanding loan balances, this was offset by rises in financial expenses, bad debt expenses, and selling, general, and administrative (SG&A) costs.

The company's business scale continued to expand. Total transaction volume reached 47.3345 trillion won, up 9.3% year-on-year, with card business transaction volume growing 9.4% to 47.1438 trillion won. Of this, credit sales volume was 42.4597 trillion won, and financial segment volume was 4.6841 trillion won.

Asset quality indicators remained stable. The delinquency rate for over one month was 0.92%, a slight improvement from the end of the previous year.