The fintech corporation Finda continued its strong sales despite a contraction in household loans last year.
Finda reported through a public notice on the 10th that its sales last year increased by 5% year-over-year, recording 29.8 billion won. Despite the slowdown in the growth of new household loans last year, the cumulative amount of contracts for individual business loans exceeded 1 trillion won. Supported by strong performances in auto collateral loans and policy products, it maintained a solid market share.
The 'refinancing service for mortgages' launched in January of last year received great response, leading to a 109% surge in the total amount of contracts for refinancing loans and mortgages last year. The contract amount for high-credit individuals with credit scores exceeding 900 points also increased by 24% year-over-year, impacting revenue improvement.
The operating loss decreased by 52% year-over-year, recording 6.3 billion won. The net loss for the period was 4.3 billion won, a decrease of 82% compared to the previous year. This is the result of continuously improving operational efficiency and profitability. On a quarterly basis, it achieved the breakeven point. In the fourth quarter of last year, it recorded a net profit of about 243.76 million won and a net operating profit of 23.09 million won.
Although advertising expenses were reduced by 16% year-over-year, the sales growth continued. The number of returning users increased by 23% compared to the previous year. The number of new users who linked their MyData within 30 days increased by 310% year-over-year, and the MyData linkage rate surged by 455%.
Analysts attribute this to the launch of mortgage and jeonse loan refinancing services at the beginning of this year and the integration of artificial intelligence (AI) and MyData for the 'AI interest rate fluctuation notification service,' which advanced asset and credit management services. A Finda representative noted, 'In the fourth quarter of last year, we achieved a transition to profitability and established a stable financial structure, using this as a springboard to focus on expanding new businesses this year.'