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KB Kookmin Card third-quarter profit rises 13.6% to 112.8 billion won
En breve
KB Kookmin Card (KB국민카드) reported third-quarter net profit of 112.8 billion won on 29 October, up 13.6% from a year earlier. Net profit for January to September was 331.7 billion won, up 18.2%. The delinquency rate fell to 1.02%, down 0.05 percentage points from the previous quarter.
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KB Kookmin Card (KB국민카드) said on 29 October that its third-quarter net profit was 112.8 billion won, up 13.5 billion won, or 13.6%, from the same period a year earlier. Compared with the previous quarter, profit rose by 1.4 billion won, or 1.3%. Yonhap reported that the company disclosed the figures on 29 October. [ 1 , 2 , 3 ]
Net profit for January to September was 331.7 billion won, up 51.1 billion won, or 18.2%, from a year earlier. Bloter, citing KB Financial Group, gave the prior-year figure as 280.6 billion won and said the nine-month total was 1.5 billion won above the company's full-year net profit last year of 330.2 billion won. [ 1 , 2 , 4 ]
The company said profit grew through stronger sales capability, cost efficiency and profitability management even as funding costs rose. Newsis reported that higher card usage and growth in installment finance lifted related revenue, and that general administrative costs and provisions were both lower than a year earlier. [ 1 , 2 , 3 , 6 ]
The delinquency rate at the end of the third quarter was 1.02%, 0.05 percentage points lower than the previous quarter and the second straight quarterly fall. The NPL ratio was 1.00%, up 0.07 percentage points from 0.93% in the previous quarter and down 0.11 percentage points from 1.11% a year earlier. Bloter reported that the delinquency rate was down 0.19 percentage points from 1.21% a year earlier, while Newsis reported a fall of 0.11 percentage points. [ 1 , 3 , 4 , 6 ]
Bloter reported cumulative operating revenue of 4.1393 trillion won, up 1% from a year earlier. Card revenue was 3.3509 trillion won, and installment finance and leasing revenue was 235.2 billion won, up 10.7%. Other revenue fell 3.7% to 553.2 billion won. Cumulative card usage was 142.6273 trillion won, up 4.9%. Operating expenses rose 0.5%, general administrative costs fell 1.5% and credit loss provisions fell 2.0%. [ 4 , 5 ]
For the fourth quarter, the company said it would respond in advance to external uncertainty such as rising funding costs and an economic slowdown, and strengthen sales capability on the basis of cost efficiency. It also said it would keep expanding inclusive finance, including financial access for vulnerable groups. Yonhap added that the company would focus on securing future growth drivers such as AI and data use. Bloter said fourth-quarter net profit of more than 70 billion won would bring annual profit into the 400 billion won range. [ 1 , 2 , 4 , 6 ]
Por qué importa
The results show higher profit at a card company despite rising funding costs, which the company cited. Bloter noted that cumulative profit already exceeds last year's full-year figure. Outlets reported the figures largely from the company's own statement and its parent group's results.
Datos clave
- Third-quarter net profit was 112.8 billion won, up 13.5 billion won (13.6%) from a year earlier and up 1.3% from the previous quarter. [ 1 , 2 , 3 , 4 , 6 ]
- Cumulative net profit for January to September was 331.7 billion won, up 18.2% from the same period last year. [ 1 , 2 , 3 , 4 , 5 , 6 ]
- The delinquency rate at the end of the third quarter was 1.02%, down 0.05 percentage points from the previous quarter and the second straight quarterly fall. [ 1 , 2 , 3 , 4 , 6 ]
- The non-performing loan (NPL) ratio was 1.00%, up 0.07 percentage points from the previous quarter and down 0.11 percentage points from a year earlier. [ 1 , 3 , 4 , 6 ]
- Cumulative operating revenue was 4.1393 trillion won, up 1% from 4.0978 trillion won a year earlier. [ 4 , 5 ]
- Cumulative card usage was 142.6273 trillion won, up 4.9% from a year earlier. [ 4 ]
Confirmado por varias fuentes
- KB Kookmin Card said third-quarter net profit was 112.8 billion won, up 13.6% from a year earlier. [ 1 , 2 , 3 , 4 , 6 ]
- The company said cumulative net profit for the first nine months was 331.7 billion won, up 18.2%. [ 1 , 2 , 3 , 4 , 5 , 6 ]
- The delinquency rate was 1.02% at the end of the third quarter, 0.05 percentage points lower than the previous quarter. [ 1 , 2 , 3 , 4 , 6 ]
- The NPL ratio was 1.00%, up 0.07 percentage points from the previous quarter and 0.11 percentage points lower than a year earlier. [ 1 , 3 , 4 , 6 ]
- The company attributed the profit growth to stronger sales capability, cost efficiency and profitability management despite rising funding costs. [ 1 , 2 , 3 , 6 ]
Aún sin aclarar
- How much the delinquency rate fell from a year earlier. Bloter reported a fall of 0.19 percentage points, from 1.21% to 1.02%, while Newsis reported a fall of 0.11 percentage points; the Newsis figure matches the NPL ratio's year-on-year change in other reports.
- Whether KB Kookmin Card's NPL ratio is the lowest among card companies affiliated with financial groups. Only Bloter made this claim, without naming a source.
- Whether the company reaches annual net profit in the 400 billion won range. Bloter said this would require fourth-quarter net profit of more than 70 billion won, but it is a projection and not a company figure.