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Kakao Bank's accounts exceed 5 mln in some 6 months

All News 15:03 January 08, 2018

SEOUL, Jan. 8 (Yonhap) -- Kakao Bank, South Korea's second Internet-only bank, said Monday it has attracted over five million accounts in about six months since launching operations.

Kakao Bank, led by Kakao Corp., operator of Korea's dominant messaging app KakaoTalk, started operations last July.

As of Sunday, Kakao Bank had attracted deposits worth 5.1 trillion won (US$4.78 billion) and made loans worth 4.7 trillion won, the bank said.

With paid-in capitalization of 300 billion won, Korea Investment Holdings Co. and Kakao hold 58 percent and 10 percent stakes in Kakao Bank, respectively.

Kakao's consortium also includes Kookmin Bank, eBay Inc. and China's Tencent Holdings Ltd.
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