[Concall] JB Financial “Preparing to Launch Joint Loans with Jeonbuk Bank and KakaoBank”

Gwangju Bank and Toss Bank Joint Loan Execution Amount
700 Billion KRW as of the 30th of Last Month

Kim Ki-hong, Chairman of JB Financial Group, stated on the 23rd during the Q3 earnings conference call, “A lot of preparations are being made for the joint loan product between Jeonbuk Bank and KakaoBank.” He added, “We have started contacting financial authorities, and since progress is going well, we will do our best to obtain approval and launch the product by the first half of next year.”

Regarding the joint loan product launched in August between Gwangju Bank and Toss Bank, he said, “It will be a significant source of income,” and added, “As of the 30th of last month, loans amounting to 70 billion won have been executed.” Chairman Kim explained that loans were initially executed mainly for customers with high credit ratings, but “recently, to emphasize profitability, we are slightly lowering credit standards or raising loan interest rates compared to before.” He further stated that loans worth 250 billion won are expected to be executed by the end of this year, and joint loans of around 500 billion to 1 trillion won are anticipated next year.

Kim Ki-hong, Chairman of JB Financial Group, stated on the 23rd during the Q3 earnings conference call that "a lot of preparations are being made for the joint loan product between Jeonbuk Bank and Kakao Bank."