Samsung Card net profit dives by more than half

SEOUL, Jan. 22 (Yonhap) -- Samsung Card Co., South Korea's second-largest credit
card firm, said Thursday its net profit nose-dived by more than half in 2008 from
a year earlier as it put aside more money to cover possible losses.

Net income reached 257.7 billion won (US$187.4 million) last year, down 54.9
percent from the previous year, the company said in a regulatory filing.
Sales grew 20.6 percent to 2.93 trillion won, while operating profit sank 36.1
percent to 323.2 billion won, it said.
As of the end of 2008, its total assets reached 14.43 trillion won, up 15.2
percent from the previous year, it added.
pbr@yna.co.kr
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