KB Kookmin Card has reported a double-digit increase in net profit for the first half of the year, driven by improvements in financial health. The company has strengthened both profitability and future growth through risk management focused on high-quality assets and operational innovations based on artificial intelligence (AI).
According to the card industry on July 26, KB Kookmin Card's net profit for the first half of the year reached 218.9 billion won, a 20.7% increase (37.6 billion won) compared to the same period last year. In the second quarter, net profit also rose to 111.4 billion won, an increase of 14.6 billion won from the previous year.
Total assets grew to 31.285 trillion won, up 1.9219 trillion won from a year ago. Despite a challenging business environment marked by slowing growth in financial assets and rising funding costs, the company managed to enhance both its asset size and profitability.
The improvement in performance was driven by strengthened financial health management and cost efficiency. Non-interest income expanded due to increased card usage, while the provision for credit losses decreased by 25.3 billion won compared to the same period last year. General administrative expenses also fell to 285.6 billion won, down 5.8 billion won from the same period last year. Efforts to diversify funding sources, including the issuance of kimchi bonds and overseas asset-backed securities (ABS), contributed to reduced interest costs.
KB Kookmin Card is enhancing its product competitiveness centered around the 'ALL·YOU·NEED' brand system, while also expanding its customer base in the corporate card sector.
To ensure future growth, the company is improving operational efficiency through an AI-based operational model, co-pilots, and data restructuring. It is also pursuing IT investments that consider investment efficiency and optimizing cloud resources.
In the next-generation payment sector, KB Kookmin Card is expanding collaborations with global blockchain companies, focusing on stablecoins, AI agent payments, and payment technologies linked to digital assets to build a future payment ecosystem.
A representative from KB Kookmin Card stated, "In the first half, profitability, financial health, cost efficiency, and future growth strategies have balanced out to yield positive results. We plan to continue stable growth in the second half through AI-based operational innovations, strengthening core competitiveness, monetizing platforms, and expanding next-generation payment businesses."
* This article has been translated by AI.
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