Bank Salad Turns Q2 Profit, Revenue Jumps 85%

MyData company Bank Salad finally succeeded in turning a quarterly net profit in the second quarter of 2025, demonstrating robust growth. Analysis suggests that steady growth in core business sectors such as loans, cards, and insurance, as a comprehensive financial platform, was effective. Bank Salad recorded operating revenue of 7.73 billion won in the second quarter, an 85% surge year-on-year, and achieved a net profit of 120 million won through efficient management, with operating costs reduced by 14% during the same period. Particularly, excluding share-based compensation expenses, net profit was stated to reach 600 million won. This is a remarkable achievement following reaching the monthly break-even point in November last year and a threefold increase in sales in 2024, evaluated as balanced growth in both financial and health services. The main driver of growth was the insurance business segment. Consultations for the company's data and AI-based customized diagnostic services surged by 270% year-on-year, boosting insurance service revenue by an impressive 230%. The loan sector also increased loan execution volume by 25.5% in the second quarter through innovative services like 'loan coupons,' setting a new all-time high, and loan approval rates rose by 20% during the same period due to improvements in credit management and loan refinancing services. The card sector demonstrated its potential with an inflow rate increase of 123% month-on-month after the introduction of new services such as 'This Month's Card Benefits.' Thanks to these efforts, monthly active users (MAU) increased by 25% year-on-year, and revenue per user by 22%. Advertising revenue also showed strength with a 100% growth compared to the previous quarter. Bank Salad plans to continue its sustained growth in the second half of the year by actively utilizing its MyData 2.0 infrastructure and AI technology to discover new financial and health services and enhance existing ones. A company official stated their commitment to providing customer-centric data products based on data technology and core functionalities, thereby securing both business stability and growth simultaneously.