K Bank "1 Trillion Inflow from IPO, Leading Non-Face-to-Face Financial Innovation"

"K Bank will use its listing as a stepping stone to accelerate the pace of non-face-to-face financial innovation in customers' daily lives."

At the K Bank IPO press conference held on the 15th at the Conrad Hotel in Yeouido, Seoul, CEO Choi Woo-hyung stated, "Since its launch, K Bank has achieved continuous growth and led innovation," adding, "We will take the lead in practicing win-win finance and innovative finance by utilizing the public offering funds in three major growth strategies: retail, SME, and platform, as well as in risk management and technology."

K Bank is expected to attract more than 1 trillion KRW in funds with its stock market debut on the 30th. The total public offering size is 82 million shares, with a desired offering price range of 9,500 to 12,000 KRW per share. Based on the upper limit of the desired price range, the public offering amount is 984 billion KRW. In addition to the funds raised through the public offering, 725 billion KRW from past paid-in capital increases will be recognized as equity capital when calculating the capital adequacy ratio (BIS) upon completion of the listing, resulting in an expected capital inflow effect exceeding 1 trillion KRW.

K Bank plans to use the capital raised through the listing to expand the types and scale of loan products. Furthermore, it will continue growth by focusing on three sectors: ▲retail ▲individual business owners (SOHO) and small and medium-sized enterprise loans (SME) ▲platforms.

In retail, K Bank plans to increase the number of customers using it as their main bank by launching competitive demand deposits and specialized deposit products tailored to customer needs, thereby expanding low-cost deposits and establishing an efficient funding structure.

In the individual business owner (SOHO) and SME loan market, K Bank plans to further expand its portfolio of individual business owner loans, which is the most extensive among internet banks. It will introduce Korea’s first 100% non-face-to-face SME loans by utilizing customized credit scoring system (CSS) models based on data such as sales scale, cash flow, and industry type, automated collateral value assessment, and marketing capabilities linked with shareholder companies’ customers.

Additionally, K Bank will pursue platform business expansion by implementing an ‘open ecosystem’ strategy that builds a partnership ecosystem through collaborations with leading businesses in various industrial sectors without relying on specific large platforms or affiliates.

Investment products and services will cover traditional investment assets such as stocks, bonds, precious metals like gold and silver, foreign exchange, as well as new asset classes and alternative investments including non-fungible tokens (NFTs), luxury goods, and artworks. To this end, K Bank plans to launch an investment-dedicated platform and AI-based personalized investment services.

Moreover, by advancing the CSS, increasing the proportion of secured loans, strengthening management of middle- and low-credit customers, and innovating operations through the development and adoption of the latest IT technologies (AI, Open API, MSA), K Bank aims to continuously enhance asset soundness management and maintain its leadership in financial technology.

K Bank will finalize the public offering price on the 18th after conducting demand forecasting until the 16th. The general subscription period is from the 21st to the 22nd, and investors wishing to participate can subscribe through NH Investment & Securities, KB Securities, Shinhan Investment Corp., and Kiwoom Securities. The listing date is scheduled for the 30th of this month.