South Korea’s credit card sector saw a major shake-up as Hyundai Card surged to third place by net profit, while Samsung Card extended its lead and Shinhan Card posted record-low earnings amid industry-wide profit declines and improved asset quality.
#YonhapInfomax #HyundaiCard #SamsungCard #NetProfit #DelinquencyRate #CreditCardIndustry #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=104461
Hyundai Card Jumps to Third Place Amid Samsung Card’s Lead—Major Shake-Up in Card Company Earnings
South Korea’s credit card sector saw a major shake-up as Hyundai Card surged to third place by net profit, while Samsung Card extended its lead and Shinhan Card posted record-low earnings amid industry-wide profit declines and improved asset quality.
Samsung Card Reports 2025 Net Profit of 649.5 Billion Won, Down 2.8%
Samsung Card Co. reported a 2.8% drop in 2025 net profit to 649.5 billion won, as higher funding and credit loss costs offset gains from increased transaction volume and affiliate expansion.
Hyundai Card overtook Samsung Card to reclaim the No. 2 spot in South Korea’s personal credit sales market share in Q4 2023, driven by aggressive year-end customer retention strategies, while both firms intensify competition in the PLCC sector.
#YonhapInfomax #HyundaiCard #SamsungCard #MarketShare #PersonalCreditSales #PLCCCompetition #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=101178
Hyundai Card and Samsung Card Vie for No. 2 Spot in Personal Credit Sales Market Share
Hyundai Card overtook Samsung Card to reclaim the No. 2 spot in South Korea’s personal credit sales market share in Q4 2023, driven by aggressive year-end customer retention strategies, while both firms intensify competition in the PLCC sector.
Shinhan Card Fails to Surpass 500 Billion Won in 2023 Net Profit—Poised for Worst Year Since Founding
Shinhan Card’s 2023 net profit is set to fall below 500 billion won, marking its worst performance since the LG Card merger, as rising costs and provisions weigh on earnings.
South Korea’s major credit card CEOs are prioritizing adaptation to market changes and strengthening core business amid regulatory pressures and economic uncertainty, with a focus on technology adoption and restoring customer trust.
#YonhapInfomax #CreditCardIndustry #SamsungCard #HyundaiCard #NetProfit #AI #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=98876
Amid Industry Downturn, Credit Card CEOs Focus on 'Adapting to Change and Core Business Strengthening' in 2024
South Korea’s major credit card CEOs are prioritizing adaptation to market changes and strengthening core business amid regulatory pressures and economic uncertainty, with a focus on technology adoption and restoring customer trust.
Samsung Card CEO Kim I-tae urged accelerated adoption of new technologies and business model innovation to navigate uncertainty, highlighting the need for transformation and cross-industry collaboration in his New Year’s address.
#YonhapInfomax #SamsungCard #KimITae #NewTechnologies #BusinessModel #Transformation #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=98135South Korea’s credit card companies are expected to maintain Q4 earnings at last year’s levels, but high funding costs and asset quality concerns will likely limit any major rebound in 2025.
#YonhapInfomax #SamsungCard #NetProfit #FundingCosts #AssetQuality #DelinquencyRates #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=97411Shinhan Card, South Korea's second-largest credit card issuer, will not conduct new graduate recruitment this year as it seeks to boost efficiency amid declining profitability and increased competition from Samsung Card.
#YonhapInfomax #ShinhanCard #SamsungCard #NetProfit #Recruitment #CreditCardIndustry #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=96289
Shinhan Card Drops to No. 2, Suspends New Graduate Recruitment This Year
Shinhan Card, South Korea's second-largest credit card issuer, will not conduct new graduate recruitment this year as it seeks to boost efficiency amid declining profitability and increased competition from Samsung Card.
Samsung Card Co. reported a Q3 net profit of 161.7 billion won, down 4.2% year-on-year but beating market expectations, as card spending and loan receivables grew despite higher funding and credit loss costs.
#YonhapInfomax #SamsungCard #NetProfit #Q3Earnings #CardSpending #LoanReceivables #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=87564
Samsung Card Posts Q3 Net Profit of 161.7 Billion Won, Down 4.2%—Beats Market Expectations
Samsung Card Co. reported a Q3 net profit of 161.7 billion won, down 4.2% year-on-year but beating market expectations, as card spending and loan receivables grew despite higher funding and credit loss costs.
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