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NET PROFIT FOR SOUTH KOREAN CARD FIRMS DIPS 36.5PCT.(Financial report)
SEOUL, March 2 Asia Pulse - Total earnings by South Korea's credit card companies declined 36.5 per cent in 2008 from a year earlier as business costs rose and one-off gains were absent, the financial watchdog said Sunday.
The Samsung Card Co. (KSE:029780) and the country's four other credit card firms logged a combined net profit of 1.66 trillion won (US$1.08 billion) in 2008, compared with 2.61 trillion won a year earlier, according to the Financial Supervisory Service (FSS).
"Amid global market jitters, funding costs rose in 2008 as card companies recorded a lack of one-time profits posted the previous year," the watchdog said.
The Shinhan Card Co. enjoyed a corporate tax cut in 2007 related to its parent group's purchase of then loss-making LG Card Co., while the Samsung Card Co. reaped a one-time profit related to its initial public offering in 2007.
Shinhan Financial bought a 78.6 per cent stake in LG Card for 6.7 trillion won in March 2007. Shares of Samsung Card began trading in June 2007 after the company sold 12 ...
- SAMSUNG CARD'S STANCE DRAWS ATTENTION AMID FEE FRAY.
- News wire article from: Asia Africa Intelligence Wire September 8, 2004 700+ words
...between E-Mart and credit card firms over commission fees subsiding...squared on what position Samsung Card Co. will take toward the...per cent of revenue. But Samsung Card, the No. 1 credit card...adjusting fees. Insiders said Samsung Card seems to have no intention...
- Delinquency Rates at Card Firms Seen as Stable in May.
- News wire article from: YON - Yonhap News Agency of Korea June 27, 2004 700+ words
...credit card payments overdue one month or more at Samsung Card and five other credit card firms was estimated at 11.91 percent in May, little...the delinquency rates," said an official at Samsung Card. By company, the overdue credit card payment...
- DELINQUENCY RATES AT KOREAN CARD FIRMS SEEN AS STABLE IN MAY.
- News wire article from: AsiaPulse News June 28, 2004 700+ words
...credit card payments overdue one month or more at Samsung Card and five other credit card firms was estimated at 11.91 per cent in May, little...the delinquency rates," said an official at Samsung Card. By company, the overdue credit card payment...
- Card firms' default rate rises in Q4.
- News wire article from: YON - Yonhap News Agency of Korea February 6, 2009 700+ words
...The delinquency rate of South Korean credit card firms rose last quarter from three months earlier...watchdog said Thursday. The default ratio of Samsung Card Co. and four other card firms came in at 3.43 percent at the end of last...
- DEFAULT RATE OF SOUTH KOREAN CARD FIRMS RISES IN Q4.
- News wire article from: AsiaPulse News February 5, 2009 700+ words
...The delinquency rate of South Korean credit card firms rose last quarter from three months earlier...watchdog said Thursday. The default ratio of Samsung Card Co. and four other card firms came in at 3.43 per cent at the end of last...
- Delinquency rates at card firms seen as stable in May, BUSINESS KOREA.
- News wire article from: Worldsources Online June 28, 2004 700+ words
...financial sources said Sunday. The average ratio of credit card payments overdue one month or more at Samsung Card and five other credit card firms was estimated at 11.91 percent in May, little changed from the previous month. Copyright 2004...
- S. KOREA'S CARD FIRMS RETURN TO PROFIT IN 2005.
- News wire article from: AsiaPulse News March 9, 2006 700+ words
...watchdog said Thursday. The Samsung Card Co., LG Card Co. and four other card firms reported a combined net...period. In contrast to Samsung Card, which fared relatively...with 63.8 billion won. Samsung Card reported a loss of 1...
- S. Korea's card firms return to profit in 2005.
- News wire article from: YON - Yonhap News Agency of Korea March 9, 2006 700+ words
...watchdog said Thursday. Samsung Card Co., LG Card Co. and four other card firms reported a combined net...period. In contrast to Samsung Card, which fared relatively...with 63.8 billion won. Samsung Card reported a loss of 1...
- S. Korean card firms' 2008 net dips 36.5 pct.
- News wire article from: YON - Yonhap News Agency of Korea March 2, 2009 700+ words
...said Sunday. Samsung Card Co. and the country...four other credit card firms logged a combined...Card Co., while Samsung Card Co. reaped a...followed by Samsung Card with 257.7 billion...FSS said local card firms have the capacity...
- S. Korean card firms' H1 net falls 42.3 pct.
- News wire article from: YON - Yonhap News Agency of Korea August 25, 2008 700+ words
...South Korean credit card firms saw their earnings fall...watchdog said Monday. Samsung Card Co. and the country's four other credit card firms logged a combined net...LG Card Co., while Samsung Card Co. got a one-time...
Source: HighBeam Research, NET PROFIT FOR SOUTH KOREAN CARD FIRMS DIPS 36.5PCT.(Financial report)