Hyundai Card reported double-digit growth in both operating profit and net profit for the first half of the year, marking four consecutive years of growth. The company attributed its solid performance to an increase in membership and growth in credit sales.
On July 23, Hyundai Card announced that its net profit for the first half of the year reached 185.2 billion won, up 11.9% from 165.5 billion won during the same period last year. Operating revenue increased by 10% to 2.3372 trillion won, while operating profit rose 16.3% to 249.5 billion won.
The growth in membership and credit sales volume contributed to the improved results. The number of members increased by 280,000 to 12.78 million compared to the same period last year.
The credit sales volume for the first half of the year was 90.6894 trillion won, a 4.6% increase from 86.6873 trillion won in the previous year. In the second quarter alone, the figure reached 45.9 trillion won, reflecting a 3.3% increase year-on-year.
Hyundai Card maintained its industry-leading position in overseas credit sales, which totaled 22.0128 trillion won, bolstered by enhanced payment convenience through services like Apple Pay and specialized offerings for international travel.
Funding costs remained stable, with interest expenses decreasing by 0.5% to 370.7 billion won compared to the same period last year.
The company's financial health indicators also showed improvement. The actual delinquency rate fell to 1.05%, down 0.14 percentage points from the previous year. The general delinquency rate, excluding refinancing loans, decreased from 0.84% to 0.74%, a drop of 0.10 percentage points.
A Hyundai Card representative stated, "We are experiencing balanced growth across all business areas, continuing our profit increase for four consecutive years. Our proactive risk management also ensures we maintain the highest level of financial stability in the industry."
* This article has been translated by AI.
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