Lotte Card's Q3 Net Profit Reaches 66.9 Billion Won, Up 68.5% Year-on-Year

Lotte Card announced on November 14 that its net profit for the third quarter reached 66.9 billion won, a 68.5% increase compared to the same period last year. During this period, operating profit rose by 49.2% to 84.6 billion won.

Accumulated net profit for the first three quarters reached 108.4 billion won, up 5.8% year-on-year. Cumulative operating revenue for the first three quarters was 2.2354 trillion won, a 6.3% increase from the previous year. Its subsidiary, Lotte Finance Vietnam, turned profitable during this period.

Lotte Card stated that the maturity structure improved through refinancing at low interest rates, and funding costs increased by only 1.2%, allowing for continued stable fund management.

A Lotte Card representative said, "Profitability in the fourth quarter is expected to deteriorate somewhat due to the impact of the cyber breach incident in September," adding, "We plan to continue improving mid- to long-term profitability by expanding our customer base through the Digiroka strategy, proactively managing asset soundness, diversifying funding structures, and enhancing cost efficiency."

Lotte Card Headquarters. Lotte Card

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