Samsung Card (A029780) Q4 2024 earnings summary

Executive summary

• Achieved consolidated revenue of KRW 4,383.2 billion in 2024, up 9.5% year-over-year, with net income attributable to owners of parent at KRW 664.6 billion, a 9.1% increase from 2023.

• Maintained a strong capital position with a consolidated adjusted capital adequacy ratio of 31.60%, well above the regulatory minimum of 8%.

• The company continued to lead in customer satisfaction, ranking first in the NCSI credit card sector for 11 consecutive years.

Financial highlights

• Consolidated operating profit reached KRW 885.4 billion, up from KRW 810.0 billion in 2023.

• Total assets increased to KRW 29,494.1 billion, with credit purchase assets at KRW 18,362.8 billion and loan receivable assets at KRW 6,778.5 billion.

• Return on assets (ROA) was 2.48%, and return on equity (ROE) was 8.34%, both slightly down from the previous year.

• Basic and diluted EPS were KRW 6,228, up from KRW 5,711 in 2023.

• Dividend payout ratio was 45.0%, with a cash dividend of KRW 2,800 per share.

Outlook and guidance

• Management expects 2025 to be challenging due to ongoing global economic uncertainty, domestic political and economic instability, and increased credit risk.

• Strategic focus will be on strengthening platform and data capabilities, expanding new businesses, and maintaining robust risk management.