Lotte Card said Tuesday it posted operating profit of 41.5 billion won in the first quarter, up 201.4% from 13.8 billion won a year earlier.
The company also said its membership base showed signs of stabilizing after last year’s large-scale personal data leak. First-quarter membership held steady at 9,556,000, the same as 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 became loans delinquent for at least two months — was 0.318%, close to the 0.311% level seen before the Legoland incident.
Lotte Card maintained a double-digit market share. Based on first-quarter credit sales usage results for individuals and corporations among eight full-service card companies compiled by the Credit Finance Association, Lotte Card’s market 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, “After last year’s cyber incident, this was an important period when we needed to demonstrate the company’s resilience, and our employees worked together to achieve the valuable result of higher operating profit.” He added, “We will continue to respond as one team to internal and external uncertainties.”
Separately, a Lotte Card official said regarding the outcome of the Financial Supervisory Service’s sanctions review committee, “With the Financial Services Commission’s final decision still pending, we will faithfully explain our efforts, including measures to prevent harm from the incident, to seek a reduction in sanctions.”
Lotte Card previously said that at the FSS’ second sanctions review committee meeting on April 30, a heavy penalty was finalized, including a 4.5-month business suspension and an administrative fine of about 5 billion won.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.