Toss Bank's Fourth Paid-in Capital Increase This Year... Raising 300 Billion Won

Capital Increase from 250 Billion to 1.35 Trillion Won in 11 Months Since Launch

[Asia Economy Reporter Minwoo Lee] Internet-only bank Toss Bank has raised 300 billion KRW through its fourth paid-in capital increase this year. As a result, its capital has reached 1.35 trillion KRW.

On the 25th, Toss Bank announced that it held a board meeting the previous day and decided on this paid-in capital increase.

A total of 60 million new shares will be issued through this capital increase. The issue price per share is 5,000 KRW. Of the 60 million newly issued shares, 45 million are common shares and 15 million are convertible shares. The payment date for the capital increase is the 30th of this month, and upon completion, Toss Bank's capital will amount to 1.35 trillion KRW.

Previously, Toss Bank launched in October last year with a capital of 250 billion KRW and has conducted a total of five paid-in capital increases including this one. At launch, it announced a plan to raise an additional 1 trillion KRW over five years, which it has exceeded in just 11 months.

A Toss Bank official stated, "We were able to grow rapidly by focusing on embracing middle- and low-credit customers and offering banking services from the user's perspective," adding, "We are grateful to our shareholders who actively support Toss Bank's business prospects and growth, and we will continue to lead the transformation of customer experience in banking with more innovative services."

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