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Online Lenders Report Sharp Increase in Net Profit in Q3

Online Lenders Report Sharp Increase in Net Profit in Q3

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 [...]

S. Korean Internet Banks Vying to Lure More Deposits

S. Korean Internet Banks Vying to Lure More Deposits

SEOUL, Sept. 15 (Korea Bizwire) — South Korean internet-only banks are ramping up efforts to attract more deposits in the wake of a newcomer’s entry into the fast-growing sector, industry sources said Wednesday. The heated race comes as the latecomer, Toss Bank, has begun receiving applications from customers even before its official launch scheduled for [...]

Online Lender K-Bank Logs 1st Quarterly Profit in 4 Years

Online Lender K-Bank Logs 1st Quarterly Profit in 4 Years

SEOUL, Aug. 3 (Korea Bizwire) — K-Bank, South Korea’s first internet-only bank, said Tuesday it turned a profit for the first time since its inception in the second quarter of the year on robust growth in customers and deposits. Net profit stood at 3.9 billion won (US$3.4 million) in the April-June period, a sharp turnaround [...]