Toss Bank Decides on 100 Billion KRW Capital Increase... Capital Surpasses 1 Trillion KRW

Capital Increased Fourfold in 9 Months Since Launch

[Asia Economy Reporter Minwoo Lee] Internet-only bank Toss Bank is conducting a paid-in capital increase worth 100 billion KRW. As a result, Toss Bank's paid-in capital is expected to exceed 1 trillion KRW.

On the 26th, Toss Bank announced that it held a board meeting the previous day and resolved to proceed with a paid-in capital increase of 100 billion KRW.

Through this capital increase, a total of 20 million shares (15 million common shares, 5 million convertible shares) will be newly issued at a price of 5,000 KRW per share. The payment date for the capital increase is the 28th. After completing this fourth capital increase since its launch in October last year, Toss Bank's paid-in capital will increase to a total of 1.05 trillion KRW. The initial capital at launch was 250 billion KRW.

Previously, Toss Bank stated at a press briefing last month that in the nine months since its launch, it has surpassed 3.6 million customers, a loan balance of 4 trillion KRW, and a loan proportion to low- and medium-credit borrowers of 36%.

A Toss Bank official said, "We were able to secure additional capital thanks to the support of shareholder companies that actively back Toss Bank's vision and business growth," adding, "We will continue to meet the expectations of customers and shareholders and introduce new innovative services from the user's perspective to transform the customer experience with banks."

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