Hyundai Card rose to third place in the industry by net profit last year, overtaking KB Kookmin Card.
According to the financial industry on the 6th, Hyundai Card posted an annual net profit of 350.3 billion won last year. That was up 10.7% from a year earlier. In contrast, KB Kookmin Card, which ranked third by net profit in 2024, recorded an annual net profit of 330.2 billion won last year, down 18% from a year earlier, placing fourth.
This is the first time Hyundai Card has ranked third in the industry by net profit. Among domestic card companies last year, Hyundai Card was the only one whose net profit grew, and the gap with Shinhan Card, second by net profit, also narrowed to 126.5 billion won.
Hyundai Card's annual credit purchase volume (individuals and corporations) last year came to 176.4952 trillion won, up 6.2% from a year earlier. Membership is also on the rise. Membership, which stood at 11.04 million at the end of 2022, reached 12.67 million last year, an increase of more than 1.6 million over three years. Overseas credit purchase volume was 3.9379 trillion won, keeping the company at No. 1 in the industry for the third straight year. As of December last year, Hyundai Card's arrears rate (excluding amounts refinanced for one month or more that remain unpaid) was 0.79%, the same as the previous quarter.
A Hyundai Card official said, "We are achieving quantitative and qualitative growth based on competitiveness in products and data science, along with a soundness-focused management approach."