Korea Investment & Securities, Bankis Financial Product Balance Surpasses 10 Trillion Won

Korea Investment & Securities announced on the 3rd that the balance of financial products in Bankis has surpassed 10 trillion won. Bankis is an online-only account and trading service opened through non-face-to-face channels or commercial banks.

Korea Investment & Securities' Bankis financial product balance has surpassed 10 trillion won. Bankis is an online-only account and trading service opened through non-face-to-face channels or commercial banks. (Provided by Korea Investment & Securities)

The balance of Bankis financial products, which was 4.2173 trillion won at the end of 2022, reached 10.3067 trillion won at the end of 2023. During the same period, the number of customers holding balances in non-face-to-face accounts increased by about 130,000, exceeding 630,000, and among them, the number of customers with financial assets exceeding 100 million won also grew by 3.3 times.

Under the high-interest rate trend, newly inflowed funds were mainly concentrated in bonds and commercial papers. The proportion of these two assets among all financial products expanded from 61% to 75% in one year. In addition, funds flowing into so-called 'tax-saving accounts' such as personal pensions, individual retirement pensions (IRP), and individual savings accounts (ISA) increased by 76% compared to the previous year.

Korea Investment & Securities is strengthening asset management services targeting rapidly increasing non-face-to-face customers. It has established stock account opening service partnerships with all three internet banks and is introducing high-quality financial products such as bonds and commercial papers through partner mobile applications. Furthermore, investment consultation and product introduction functions through non-face-to-face channels are continuously being expanded.

Park Jaehyun, head of the individual customer group, said, "Last year, as preference for fixed interest rate products increased, the number of customers incorporating related financial products into their portfolios significantly rose," adding, "We will focus our capabilities on selectively providing financial products that consider the diverse characteristics and needs of non-face-to-face trading customers, including performance dividend-type products."