Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Man convicted after binge eating to avoid military service
-
4
First snow to fall in Seoul on Wednesday
-
5
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
6
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
7
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
8
Job creation lowest on record among under-30s
-
9
NK troops disguised as 'indigenous' people in Far East for combat against Ukraine: report
-
10
Opposition leader awaits perjury trial ruling
South Korean credit card companies have underperformed in the first quarter of this year, largely due to a decrease in income from commissions charged on member stores, data showed Wednesday.
Net income of Shinhan Card Co., the No. 1 credit card firm by market share, dipped 13.9 percent to 160.6 billion won ($145.4 million) in the January-March period, compared with 186.6 billion the previous year, according to the card company and regulatory filings.
Samsung Card Co. saw its first-quarter earnings slip 7 percent to 66.5 billion won in the same period, the data showed.
KB Kookmin Card Co. logged a net profit of 95.6 billion won in the first three months of this year, up 34.3 percent from a year ago, but that was largely due to one-off gains. Excluding the one-off profit, the firm’s net profit sank 8 percent, the data showed.
Their weaker bottom line came as the regulator imposed a revised credit finance rule in which credit card companies are required to lower the commission rates they charge smaller stores, and hike the rate for larger firms. (Yonhap News)
Net income of Shinhan Card Co., the No. 1 credit card firm by market share, dipped 13.9 percent to 160.6 billion won ($145.4 million) in the January-March period, compared with 186.6 billion the previous year, according to the card company and regulatory filings.
Samsung Card Co. saw its first-quarter earnings slip 7 percent to 66.5 billion won in the same period, the data showed.
KB Kookmin Card Co. logged a net profit of 95.6 billion won in the first three months of this year, up 34.3 percent from a year ago, but that was largely due to one-off gains. Excluding the one-off profit, the firm’s net profit sank 8 percent, the data showed.
Their weaker bottom line came as the regulator imposed a revised credit finance rule in which credit card companies are required to lower the commission rates they charge smaller stores, and hike the rate for larger firms. (Yonhap News)
-
Articles by Korea Herald
