KakaoBank Corp. reported first-half net profit of ₩328bn, up 24.4% and a record, while operating profit for the same six months came in at ₩351.6bn against ₩353.2bn a year earlier.
KakaoBank Corp. (323410) and Korea Investment & Securities launched an event marking seven years of partnership, Yonhap reported Friday.
KakaoBank (KRX:323410) and K Bank extended small-business lending at growth rates 70 times higher than the sector average, data from Korea's five largest banks showed Wednesday.
Internet banks KakaoBank and KB Bank expanded small business owner loans 70% year-over-year in the past 12 months.
| Period | 323410 | KOSPI | Difference |
|---|---|---|---|
| 1 week | +0.5% | -1.5% | +2.0% |
| 1 month | +0.5% | +5.2% | -4.7% |
| 3 months | -2.7% | -22.6% | +19.9% |
| 6 months | -1.1% | +31.3% | -32.4% |
| Year to date | +1.6% | +58.7% | -57.1% |
| 1 year | -7.8% | +108.9% | -116.7% |
Closed at 25% of the way from its 52-week low (₩19,750) to its 52-week high (₩28,700).
KakaoBank is Korea's first and largest branchless internet bank, acquiring customers through the Kakao messaging app that most Koreans open every day. It lends mostly to consumers — unsecured personal loans and mortgages funded by low-cost deposits — with an expense base far below that of the traditional Korean banks. The argument over its valuation is whether it should be priced as a bank or as a technology platform. US investors comparing it to American neobanks and digital-first lenders will recognize that same argument.
| Sector | Banks | Employees | |
| Market | KOSPI | Founded | |
| Korean name | 카카오뱅크 | Head office |
| Symbol | Last Price |
|---|---|
| 105560KB Financial Group Inc. | ₩172,000 -3.3% |
| 055550Shinhan Financial Group Co., Ltd. | ₩110,300 -3.7% |
| 086790Hana Financial Group Inc. | ₩134,300 -3.7% |
| 316140Woori Financial Group Inc. | ₩33,200 -4.2% |
| 138040Meritz Financial Group Inc. | ₩135,500 -1.0% |
| 024110Industrial Bank of Korea | ₩20,700 -2.1% |
| 279570Kbank | ₩5,600 +0.5% |