K Bank's 'Blazing Growth' in Q1... More Customers Joined in 3 Months Than in the Past 3 Years

High-Value New Subscribers Exceed Retained Customers Over 3 Years in 3 Months
Aggressive Sales Pace "New Products Like Small Credit Lines, Jeonse and Monthly Rent Loans Planned"

[Asia Economy Reporter Kiho Sung] Internet-only bank K-Bank has attracted more customers in the past three months than in the previous three years.

According to K-Bank on the 1st, the number of customers at the end of last March was 3.91 million, an increase of 1.72 million compared to three months earlier. This figure is 150,000 more than the 1.57 million customers over the past three years (2018?2020).

This rapid growth is attributed to differentiated interest rate benefits from products such as apartment mortgage loans and the parking account 'Plus Box,' as well as the convenience of non-face-to-face services.

First, the number of customers subscribing to the parking account 'Plus Box,' which offers an annual interest rate of 0.6% even for just one day of deposit, has increased. Also, various partnership effects seem to have contributed, such as forming a partnership with the cryptocurrency exchange Upbit for issuing real-name verification accounts. K-Bank has launched partnership events with content platforms, gaming companies, and e-commerce firms, and has also released high-interest deposit and savings partnership products with financial companies such as Woori Card and KB Insurance.

As of the end of March, the deposit balance was 8.72 trillion KRW, an increase of 4.97 trillion KRW compared to the end of last year. The loan balance recorded about 3.83 trillion KRW as of the end of March, an increase of approximately 840 billion KRW compared to December last year (2.99 trillion KRW).

In particular, the 100% non-face-to-face collateral loan product 'Apartment Mortgage Loan' recently surpassed a cumulative handling amount of 500 billion KRW, driving growth.

Based on this growth trend, K-Bank plans to consecutively launch new products and services as early as the second quarter. This includes diversifying the loan portfolio with small overdraft accounts and jeonse/monthly rent loans, as well as plans to launch mid-interest rate loan products and KT synergy services.

A K-Bank official said, "We recorded the largest quarterly growth ever based on representative products that offer customer benefits such as apartment mortgage loans and Plus Box," adding, "We will continue to launch new products such as jeonse/monthly rent loans and small overdraft accounts and expand synergy with partner companies."

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