Inbaeng 3 Companies Exceed Loan Targets for Medium-Low Credit... Share Increases by 30%+

The three internet banks (Kakao Bank, K Bank, and Toss Bank) all exceeded their target of 30% for the proportion of loans to low- and medium-credit borrowers last year.

Last year, the proportion of unsecured loans to low- and medium-credit borrowers was 34.7% for Toss Bank, 34.1% for K Bank, and 32.2% for Kakao Bank.

Kakao Bank had the largest scale of unsecured loans among the three banks last year. It supplied more than 2.5 trillion KRW in loans to low- and medium-credit borrowers, and the cumulative loan supply since its launch exceeded 13 trillion KRW. It was the only internet bank to achieve its loan supply target for low- and medium-credit borrowers last year, following 2023.

Toss Bank had the highest loan proportion at 34.7% among the three banks. Since its launch in 2021, it has supplied 8.7 trillion KRW to 312,000 low- and medium-credit borrowers by the end of last year. It supplied 1.36 trillion KRW in loans last year alone.

K Bank’s proportion of unsecured loans to low- and medium-credit borrowers increased by 5 percentage points from 29.1% in 2023 to 34.1%. As of the fourth quarter of last year, it recorded 35.3%, marking the highest level ever with seven consecutive quarters of increase since the second quarter of 2023. The loan amount supplied last year was 1.1658 trillion KRW, with a cumulative supply of 7.1658 trillion KRW.