SBI Savings Bank, Industry's First to Surpass 1 Million Customers

[Asia Economy Reporter Kim Min-young] SBI Savings Bank, the industry leader with assets totaling around 8 trillion KRW, has become the first single savings bank to surpass 1 million customers.

SBI Savings Bank announced on the 16th that the number of customers exceeded 1 million as of the end of September last year.

The term "customers" refers to actual clients who hold savings or installment savings accounts at the savings bank or have loans from the savings bank.

SBI Savings Bank stated, "Surpassing 1 million customers as an individual savings bank is a monumental achievement in the history of savings banks and an unprecedented accomplishment to date," adding, "Compared to other large savings banks whose customer numbers range from 200,000 to 600,000, this is an overwhelming figure." As of the end of September last year, the bank's assets stood at 8.411 trillion KRW, significantly ahead of the second-ranked OK Savings Bank (6.5916 trillion KRW).

The company analyzed that the number of customers showed a sharp increase following the launch of its proprietary mobile application, Saida Bank. The Saida Bank app, released in June last year, contributed greatly to the increase in customers, reaching 200,000 members within five months of its launch.

Additionally, a company representative stated that continuous growth in customer transactions has been maintained through fintech-based financial innovation, thorough risk management, and innovative services and products designed to maximize customer convenience and benefits.

An SBI Savings Bank official said, "We will continue to strive to enable not only existing customers but also more customers to use SBI Savings Bank through various products and services."

This content was produced with the assistance of AI translation services.