카카오뱅크 has achieved its highest-ever performance in the first half of this year, driven by an increase in personal business loans and growth in its platform services.
On August 5, KakaoBank announced that its net profit for the second quarter reached 140.8 billion won, an 11.5% increase compared to the same period last year. For the first half, net profit rose 24.4% year-on-year to 328 billion won, marking the highest half-year performance to date.
Interest income from loans in the first half increased by 5.9% year-on-year to 1.058 trillion won, bolstered by the expansion of personal business loans. By the end of the second quarter, the outstanding balance of personal business loans was 3.687 trillion won, an 8.3% increase from the previous quarter. Personal business loans accounted for 48% of the total loan growth in the first half.
Non-interest income also grew, fueled by the expansion of platform services such as loan comparisons, investments, and payment processing. Non-interest income for the first half totaled 589.5 billion won, a 4.8% increase from the previous year, representing 36% of total operating revenue.
Commission and platform revenue rose by 10.5% to 169.6 billion won. The amount of loans executed through partner financial institutions via the loan comparison service reached 1.56 trillion won, a 12% increase from the same period last year. The scale of check card payments also hit a record high of 6.3 trillion won for the quarter, contributing to the increase in commission revenue.
In the second quarter, 520 billion won in new loans were provided to mid- to low-credit borrowers, with a total of 1 trillion won supplied in the first half. The delinquency rate for the second quarter was 0.51%, and the non-performing loan (NPL) ratio was 0.54%, remaining stable compared to the previous quarter.
KakaoBank plans to accelerate its business diversification in the second half of the year. This month, it will launch 'Payment Home,' a service that integrates card payment history and benefits, and introduce its second private label credit card (PLCC). In September, it will expand its loan comparison service to the auto finance sector, allowing customers to compare various auto financing products at once.
In the fourth quarter, KakaoBank will introduce a refinancing service that allows personal business owners to switch to real estate-backed loans from other financial institutions. A KakaoBank official stated, "We aim to expand inclusive finance and introduce innovative services based on stable growth in the second half, positioning ourselves as the preferred financial platform for customers."
On August 5, KakaoBank announced that its net profit for the second quarter reached 140.8 billion won, an 11.5% increase compared to the same period last year. For the first half, net profit rose 24.4% year-on-year to 328 billion won, marking the highest half-year performance to date.
Interest income from loans in the first half increased by 5.9% year-on-year to 1.058 trillion won, bolstered by the expansion of personal business loans. By the end of the second quarter, the outstanding balance of personal business loans was 3.687 trillion won, an 8.3% increase from the previous quarter. Personal business loans accounted for 48% of the total loan growth in the first half.
Non-interest income also grew, fueled by the expansion of platform services such as loan comparisons, investments, and payment processing. Non-interest income for the first half totaled 589.5 billion won, a 4.8% increase from the previous year, representing 36% of total operating revenue.
Commission and platform revenue rose by 10.5% to 169.6 billion won. The amount of loans executed through partner financial institutions via the loan comparison service reached 1.56 trillion won, a 12% increase from the same period last year. The scale of check card payments also hit a record high of 6.3 trillion won for the quarter, contributing to the increase in commission revenue.
In the second quarter, 520 billion won in new loans were provided to mid- to low-credit borrowers, with a total of 1 trillion won supplied in the first half. The delinquency rate for the second quarter was 0.51%, and the non-performing loan (NPL) ratio was 0.54%, remaining stable compared to the previous quarter.
KakaoBank plans to accelerate its business diversification in the second half of the year. This month, it will launch 'Payment Home,' a service that integrates card payment history and benefits, and introduce its second private label credit card (PLCC). In September, it will expand its loan comparison service to the auto finance sector, allowing customers to compare various auto financing products at once.
In the fourth quarter, KakaoBank will introduce a refinancing service that allows personal business owners to switch to real estate-backed loans from other financial institutions. A KakaoBank official stated, "We aim to expand inclusive finance and introduce innovative services based on stable growth in the second half, positioning ourselves as the preferred financial platform for customers."
* This article has been translated by AI.
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