Toss Bank Surpasses 6 Million Customers: "Profit Turnaround Expected in Second Half"

Surpassed 6.05 Million Users the Previous Day... Used Across All Age Groups
Loans Reach 9.3 Trillion, Deposits 23.2 Trillion
LCR at 833%... "Fully Prepared for Market Volatility"

Toss Bank has surpassed 6 million customers just 1 year and 6 months after its launch. It is expected to break even in the second half of this year by steadily increasing its loan and deposit scale.

On the 27th, Toss Bank announced that it recorded 6.05 million customers as of the previous day. This is about 2.6 times the 2.35 million customers from the same month last year. Customers from various age groups have gathered. Those in their 20s accounted for the largest share at 26.8%, but those in their 30s (23.1%), 40s (22.8%), and 50s and above (20.4%) all exceeded 20%. Among all customers, 77% held at least 1 won in their accounts, roughly 8 out of 10 people.

A Toss Bank official explained, "Innovative customer-centric services such as ‘Receive Interest Now’ and ‘Deposit with Early Interest’?unlike traditional banks?have contributed not only to growth but also to forming a solid customer base."

The scale of loans and deposits also grew steadily. As of the previous day, the loan balance was 9.3 trillion won, and the deposit balance was 23.2 trillion won. In particular, loans increased about fourfold from 2.6 trillion won in March last year over the course of one year. The loan-to-deposit ratio improved nearly four times compared to the same period last year (12.4%), reaching about 44%.

Riding on this growth, Toss Bank expects to achieve breakeven and turn profitable in the second half of this year. If successful, it will be about two years since the first service was launched in October 2021. For new banks, it typically takes 3 to 4 years to turn profitable.

Capital, the foundation of growth, is also being rapidly expanded. Toss Bank has raised a total capital of 1.65 trillion won through proactive paid-in capital increases last year and this year. Recently, Korea Investment Capital expressed its intention to participate in the capital increase and will join as a shareholder. Current major shareholders include Viva Republica, the operator of Toss, as well as Hana Bank, Hanwha Investment & Securities, the Korea Federation of SMEs, E-Land, and SC First Bank.

Despite market liquidity concerns, Toss Bank stated it is sufficiently prepared. As of the previous day, the Liquidity Coverage Ratio (LCR) stood at 833.5%. This means it has secured about 14.5 trillion won in high-liquidity assets. Toss Bank explained, "This figure is significantly higher than the average (100%) maintained by commercial banks, meaning it is fully prepared to supply liquidity under any circumstances."

Additionally, the Net Stable Funding Ratio (NSFR) is 208%, nearly twice that of commercial banks. This means it can stably procure funds according to the bank’s required assets over the long term (more than one year).

A Toss Bank official said, "With breakeven this year becoming visible, Toss Bank’s stable and rapid growth is expected to send a positive signal to the market. We will continue our growth with customer-centric innovative services and products that consider customers’ financial sovereignty."