Korean Credit Bureau Net Profits Up 31%

Posted by Joachim Bartels | Apr 25, 2017 | Consumer Credit Information, Credit Bureau News, Credit Information, South Korea | 0 |

The combined net profit of six credit bureau firms in South Korea jumped 31 percent on-year in 2016, as they expanded their business portfolio into new sectors, the nation’s financial regulator said Tuesday.

The combined net income of the six credit bureau firms, which collects and evaluates credit data between consumers and financial firms, stood at 57.2 billion won ($51.3 million) last year, up 13.6 billion won from 2015, the Financial Supervisory Service (FSS) said in a statement. Their combined operating profit rose 5.9 percent on year to 493 billion won in 2016.

The six firms include Korea Credit Bureau, NICE Investors Service and Korea Ratings.

Source: Korea Herald

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

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