Samsung Card (A029780) Q3 2024 earnings summary

Executive summary

• Total assets at Q3 2024 reached ₩29.0 trillion, with net income of ₩531.5 billion for the nine months ended September 2024, reflecting stable profitability and robust capital adequacy.

• The company maintained a strong market position with 13.07 million card members and 3.06 million merchants, and continued to lead in customer satisfaction rankings.

Financial highlights

• Cumulative operating revenue for Q3 2024 was ₩3.08 trillion, down from ₩4.00 trillion year-over-year.

• Net income for the nine months ended September 2024 was ₩531.5 billion, compared to ₩609.4 billion in the prior year.

• Basic EPS for the period was ₩4,981, down from ₩5,711 year-over-year.

• Gross margin and operating profit margin remained stable, with operating profit at ₩713.7 billion.

Outlook and guidance

• The company expects continued growth in card approvals, supported by digitalization and new product launches.

• Ongoing focus on risk management and cost efficiency amid economic uncertainties and rising interest rates.