SEOUL, April 6 (Korea Bizwire) — K-Bank, a South Korean internet-only bank, said Wednesday that it garnered more than 7.5 million customers in five years of its launch thanks to a steep increase in mid- and low-credit loans and the rising popularity of mobile banking. K-Bank has enjoyed brisk business growth in the recent years, [...]
SEOUL, Feb. 3 (Korea Bizwire) — K-Bank, a South Korean internet-only bank, on Thursday reported its first profit since its launch in 2017 thanks to a sharp increase in customers and interest income. Net profit came to 22.4 billion won (US$18.6 million) in 2021, a turnaround from a loss of 105.4 billion won a year [...]
SEOUL, Jan. 7 (Korea Bizwire) — K-Bank, a South Korean internet-only bank, said Friday it has begun the process of an initial public offering (IPO) as part of efforts to raise funds to strengthen its foothold as a major digital financial platform. K-Bank sent a request for proposal to local and foreign securities firms earlier [...]
SEOUL, Nov. 2 (Korea Bizwire) — South Korean internet-only banks said Tuesday their third-quarter profits sharply increased on robust growth in customers and deposits. K-Bank, controlled by a consortium of telecom giant KT Corp., Woori Bank and 19 other companies, saw its third-quarter earnings more than double from three months earlier. Net profit came to [...]
SEOUL, April 1 (Korea Bizwire) — K-Bank, South Korea’s first internet-only bank, said Thursday its customers and deposits grew exponentially in the first quarter of the year amid the coronavirus outbreak. The number of customers stood at 3.91 million as of the end of March, 1.72 million more than three months earlier, said the lender, [...]
SEOUL, May 6 (Korea Bizwire) — South Korea’s top internet-only lender Kakao Bank said Wednesday its first-quarter net profit nearly tripled due mainly to increased interest income. Net profit came to 18.5 billion won (US$15.2 million) in the January-March period, up about 181 percent from a year earlier, the lender said in a regulatory filing. [...]
SEOUL, Jul. 12 (Korea Bizwire) — Kakao Bank, South Korea’s second Internet-only bank, said Friday it has attracted more than 10 million accounts in about two years since launching operations. Kakao Bank, controlled by Kakao Corp., the operator of South Korea’s dominant messaging app KakaoTalk, started operations on July 27, 2017, quickly gaining popularity among [...]
SEOUL, May 26 (Korea Bizwire) — In an unexpected turn of events, South Korea’s financial regulator on Sunday rejected applications by two consortia to set up the nation’s third and fourth Internet-only banks. One consortium is backed by financial technology firm Viva Republica and the other is led by brokerage Kiwoom Securities. The Financial Services [...]
SEOUL, May 2 (Korea Bizwire) — The government will actively consider granting a license to set up the nation’s third Internet-only bank, as part of its efforts to ease entry barriers to the financial sector, officials said Wednesday. Financial Services Commission (FSC) Vice Chairman Kim Yong-beom unveiled a series of measures to soften regulations in [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korea’s first Internet-only bank, K-Bank, hopes to raise 500 billion won (US$469.7 million) in a new share sale during the first quarter of this year, the bank’s chief executive said Wednesday. However, Shim Seong-hoon, CEO of K-Bank, said he did not set the target in the planned stock [...]