KakaoBank Selected as 'Best Bank in South Korea' by Asia Money

First Internet-Only Bank Selected as 'Korea's Best Bank'
Chosen as 'Korea's Best Digital Bank' for 4 Consecutive Years

[Photo by Kakao Bank] Kakao Bank logo

[Asia Economy Reporter Kim Hyo-jin] KakaoBank announced on the 6th that it has been selected as the 'Best Bank in Korea' by AsiaMoney, an Asian economic magazine. This is the first time an internet-only bank has been chosen as the top bank in Korea.

Founded in 1989, AsiaMoney is a sister publication of the global financial media EuroMoney, and every year it selects and announces the best financial institutions by sector in each country.

AsiaMoney evaluated that KakaoBank, a newly established bank that started customer service in 2017, has become a formidable competitor to existing large commercial banks by simultaneously achieving growth, soundness, and profitability over the past four years.

It added that since recording a profit in its first year in 2019, KakaoBank has consistently posted quarterly profits, and with the success of its partnership credit card and the youth-oriented KakaoBank 'Mini' launched last year, there is growing interest in KakaoBank's planned initial public offering (IPO).

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