KakaoBank Supplies 469 Billion KRW to Low- and Mid-Credit Borrowers Over 3 Months

[Asia Economy Reporter Kiho Sung] As KakaoBank expands loans for low- to mid-credit customers, it has supplied a total of 469 billion KRW to these customers since June.

According to the Bankers Association on the 30th, KakaoBank's outstanding loan balance for low- to mid-credit customers was recorded at 1.7827 trillion KRW as of the previous day.

The loan supply scale for this month reached 267.4 billion KRW, more than double the previous month’s 114 billion KRW. This supply amount excludes guaranteed mid-interest rate products such as Saetdol loans and Sunshine loans. The proportion of loan balances for low- to mid-credit customers in unsecured, non-collateralized credit loans stood at 12% as of August, up from 10.6% at the end of June.

Earlier, KakaoBank applied an advanced credit evaluation model starting in June and has been actively expanding loans for low- to mid-credit customers by raising the loan limit up to 100 million KRW. Additionally, this month, it launched new loan products exclusively for low- to mid-credit customers, such as the Mid-Credit Plus Loan and Mid-Credit Emergency Loan.

A KakaoBank official stated, "We will strengthen our repayment ability assessment capabilities through the advancement of the credit scoring system (CSS)," and added, "We plan to continue supporting loan interest for mid-credit customers, which has been ongoing since June to attract low- to mid-credit customers."

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