Credit Card Issuers’ Net Profits Drop 32.3 Pct on Costs in 2017

SEOUL, March 20 (Korea Bizwire) — South Korea’s credit card companies saw their combined net profit drop last year due to a sharp rise in loan-loss provisions and marketing costs, data showed Tuesday. Eight standalone credit card firms posted a combined net profit of 1.22 trillion won (US$1.13 billion) in 2017, down 32.3 percent from [...]