Lotte Card announced that its consolidated net profit for the first half of the year reached 64.7 billion won, a 55.5% increase from 41.6 billion won during the same period last year.
This growth is attributed to a portfolio realignment focused on high-quality customers and proactive risk management, which stabilized bad debt costs. Overall cost efficiency also contributed to improved profitability.
Indicators of asset soundness have also improved. The delinquency rate for loans overdue by more than one month, excluding refinancing loans, fell to 1.78%, down 0.39 percentage points from 2.17% in the same period last year. Including refinancing loans, the delinquency rate decreased from 2.32% to 2.21% during the same timeframe.
The total number of members in the first half remained stable at 9.68 million, compared to 9.67 million in the previous year. The net profit of Lotte Finance Vietnam, a subsidiary, rose to 4.7 billion won, a 38.7% increase from 3.4 billion won in the same period last year.
Following the end of its business suspension, Lotte Card plans to diversify its sales channels and introduce new products to expand its customer base. Additionally, the company aims to continue recovering profitability through asset soundness management, diversification of funding structures, and cost efficiency.
* This article has been translated by AI.
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