KB Kookmin Card Reports Q3 Net Profit of 99.3 Billion Won, Down 13.4% Year-on-Year

Card Segment Revenue Down 3.7%
"Impact of Lower Commission Rates"

KB Kookmin Card announced on October 30 that its net profit for the third quarter reached 99.3 billion won, marking a 13.4% decrease compared to the same period last year (114.7 billion won).

KB Kookmin Card Headquarters, Jongno-gu, Seoul. KB Kookmin Card

During the same period, operating profit was tallied at 136.2 billion won, down 13.3% from 157.2 billion won in the third quarter of the previous year.

Operating revenue fell by 2.4% year-on-year to 1.35 trillion won, compared to 1.383 trillion won in the same quarter last year.

Third-quarter revenue from the card segment amounted to 1.1049 trillion won, a 3.7% decrease from 1.1474 trillion won a year earlier. The decline in performance was attributed to lower card commission rates.

The delinquency rate for the third quarter stood at 1.21%, down 0.19 percentage points from 1.40% in the second quarter.

A KB Kookmin Card official stated, "We will enhance our risk management by advancing our artificial intelligence (AI)-based credit evaluation model and credit policies, and by strengthening portfolio monitoring."

The official added, "To prevent a sudden credit crunch, we will implement flexible credit limit management for mid- to high-grade customers and faithfully fulfill our role as a provider of liquidity for inclusive finance."

This content was produced with the assistance of AI translation services.