April 26, 2024
Economy
Credit finance firms’ profits up 16.5%
[THE INVESTOR] Earnings of South Korea’s credit finance firms rose 16.5 percent last year from a year earlier, data showed on March 22.
The combined net income of 78 credit finance companies reached 1.54 trillion won (US$1.37 billion) in 2016, compared with 1.32 trillion won in the previous year, according to the data compiled by the Financial Supervisory Service.
The companies include capital financing firms and leasing companies, but exclude credit card firms, the FSS said. Their average loan delinquency ratio stood at 2.07 percent as of end-2016, down 0.24 percentage point from the previous year, the FSS said.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The combined net income of 78 credit finance companies reached 1.54 trillion won (US$1.37 billion) in 2016, compared with 1.32 trillion won in the previous year, according to the data compiled by the Financial Supervisory Service.
The companies include capital financing firms and leasing companies, but exclude credit card firms, the FSS said. Their average loan delinquency ratio stood at 2.07 percent as of end-2016, down 0.24 percentage point from the previous year, the FSS said.
By Alex Lee and newswires (alexlee@heraldcorp.com)
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