The bank said it added 2.78 million new customers last year, bringing its total to 15.53 million.
As of the end of last year, K Bank’s deposit balance stood at 28.43 trillion won. Crypto-asset deposits fell amid a weaker asset market, while retail deposits rose 2.42 trillion won from a year earlier.
Growth was led by its “Plus Box” parking account, which was revamped in September 2024, including applying interest rates to amounts above 50 million won. Retail demand deposits increased 2.83 trillion won last year, lifting the share of demand deposits in retail funding to 65.8% at year-end from 59.5% at the end of 2024.
Loans totaled 18.38 trillion won at the end of last year, up 13% from 16.27 trillion won at the end of 2024. Lending to sole proprietors drove the increase, with the balance rising to 2.31 trillion won from 1.15 trillion won. Loans backed by real estate for sole proprietors jumped to 560 billion won from 70 billion won.
Net interest income fell 7.8% to 444.2 billion won from 481.5 billion won a year earlier. The bank said interest revenue improved as loans and earning assets grew, but funding costs rose, including due to higher fee rates tied to crypto-asset deposits.
Noninterest income rose about 40% to 113.3 billion won from 80.9 billion won, helped by gains on bond sales, higher investment returns including from money market funds, and the start of platform advertising revenue.
Asset quality also improved, the bank said. Its delinquency rate fell to 0.60% at year-end from 0.90% at the end of 2024, while the ratio of substandard or lower loans eased to 0.57% from 0.82%.
The annual credit cost ratio improved to 1.22% from 1.59% a year earlier.
K Bank said it aims to expand its customer base to 18 million this year and focus on what it called three future growth engines: its platform business, expanded corporate lending, and areas including artificial intelligence and digital assets.
Chief Executive Choi Woo-hyung said, “This year will be a turning point for K Bank to take another step forward,” adding that the bank will seek to grow into a leading financial platform for more customers, provide more opportunities and benefits to sole proprietor clients, and lead innovation in AI and digital assets.
* This article has been translated by AI.
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