Samsung Card Co. reported a net profit of 184.4 billion won ($128.8 million) for the first quarter, up 3.7 percent from the same period last year, according to its regulatory filing on Friday.

While revenue fell 3.5 percent year-over-year to 1.06 trillion won, operating profit rose 1.5 percent to 244.9 billion won.

The company’s total transaction volume reached 43.3 trillion won, up 8.4 percent, driven by increases in both personal credit card membership and per capita spending.

Samsung Card attributed the growth to stable performance across all business areas—including credit purchases, card loans, and installment leasing—by focusing on high-quality members.

The company said efforts to improve cost efficiency helped curb the rise in selling and administrative expenses, while sound asset management contributed to a decrease in bad debt costs.

The delinquency rate for payments overdue by more than one month stood at 1.03 percent, slightly up from 1 percent at the end of last year, but down from 1.07 percent a year earlier, indicating stable credit risk control.

The company expects continued volatility in the credit card industry due to shifting internal and external factors.

Samsung Card said it plans to actively manage risk and strengthen its growth foundation through long-term investment in platforms, data, and AI capabilities.

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