Lotte Card said Tuesday it posted 41.5 billion won ($415억원) in operating profit for the first quarter, up 201.4% from 13.8 billion won a year earlier.
The company also reported a rebound in membership after last year’s large-scale personal data leak. First-quarter membership totaled 9,566,000, up 10,000 from a year earlier.
Asset quality indicators improved as well. As of the end of March, the delinquency transition rate — the share of performing loans that become loans overdue by at least two months — stood at 0.318%, close to the pre-Legoland incident level of 0.311%.
Lotte Card kept a double-digit market share. Based on personal and corporate credit sales among eight dedicated card issuers tracked by the Credit Finance Association, its first-quarter share was 10.6%, following 11.0% in the previous quarter.
Lotte Card attributed the results to a stable earnings structure built around a portfolio focused on high-quality customers. It also cited stronger risk management and lower bad-debt costs.
CEO Jeong Sang-ho said, “It was an important time to show the company’s resilience after last year’s cyber incident, and employees worked together to achieve the valuable result of higher operating profit.” He added, “We will continue to respond to internal and external uncertainty as one team.”
Separately, a Lotte Card official said that because a final decision by the Financial Services Commission is still pending, the company will “faithfully explain” its efforts to prevent damage from the incident in seeking reduced sanctions.
On April 30, Lotte Card said a second meeting of the Financial Supervisory Service’s sanctions review committee confirmed heavy penalties, including a 4.5-month business suspension and an administrative fine of about 5 billion won.
* This article has been translated by AI.
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