Finda succeeded in turning a profit in the fourth quarter, following its transition to a surplus in the previous year.
According to internal financial statements from Finda, the company recorded a net profit of 243.76 million won and operating profit of 23.09 million won in the fourth quarter of last year, achieving quarterly breakeven. This comes after successfully turning to a profit in net and operating income in July and August, respectively, and indicates enhanced performance improvement.
Finda noted it recorded good results through a lock-in strategy that refined its marketing strategies over the past three years, accurately attracting true loan seekers and prompting customer re-visits. In the fourth quarter of last year, Finda reduced its advertising expenses by 55% compared to the fourth quarter of 2023, while the cumulative number of registered members increased by 19%, reaching 3.13 million. Revenue also rose by 5.7% during the same period, achieving approximately 7.2 billion won.
During the same period, the loan approval rate of Finda's partnering institutions improved by 24.4% compared to the same period last year. The introduction of loan products from the first-tier financial sector, including commercial and internet banks, effectively increased the number of user-tailored products. As favorable loan conditions increased, high-credit individuals with scores above 900 flocked to Finda. In the fourth quarter of last year, the number of loan limit inquiries by high-credit borrowers rose by 10.7%, while the number of applications increased by 21.8%, and the agreement amount rose by 5.26%.
Finda plans to leverage its fourth-quarter breakeven achievement as a stepping stone to accelerate the expansion of new businesses in 2025 and actively pursue the enhancement of a loan comparison service that incorporates artificial intelligence.