Three Internet-Only Banks Exceed Target Ratio for Mid- and Low-Credit Loans in Q2

Toss Bank Leads with 35% Share of Loans to Mid- and Low-Credit Borrowers

All three internet-only banks-Kakao Bank, K Bank, and Toss Bank-reported that their proportion of loans to mid- and low-credit borrowers in the second quarter exceeded the regulatory ratio set by financial authorities.

According to the financial industry on August 22, Toss Bank recorded a 35.0% share of credit loans to mid- and low-credit borrowers (based on average balance) in the second quarter, the highest among the three internet banks. K Bank and Kakao Bank followed with 34.4% and 33.1%, respectively.

Based on new loans issued, Toss Bank also posted the highest figure at 50.2%. Kakao Bank followed with 49.4%. K Bank, which had fallen short of its target in the first quarter, reached 38.2% this time.

Previously, in a meeting to review the livelihood economy held in February this year, the Financial Services Commission ordered that more than 30% of new credit loans should be extended to mid- and low-credit borrowers.