Consumer financing firms’ 2019 net up 5.7%

Consumer financing firms in South Korea saw their combined net profit gain 5.7 percent in 2019 from a year earlier on the back of a robust gain in interest income, data showed Wednesday.

The combined net profit of 107 credit financial firms stood at 2.05 trillion won ($1.68 billion) in 2019, up 111.2 billion won from a year earlier, according to the data by the Financial Supervisory Service (FSS).

Their interest income rose 6.7 percent on-year to 5.66 trillion won in 2019, the data showed.

The combined assets of those firms climbed 12.7 percent on-year to 161.7 trillion won in 2019. (Yonhap)