Average 27.5% Share of Mid-to-Low Credit Internet Banks... Tobank Ranks First

[Asia Economy Reporter Buaeri] The proportion of loans to low- and medium-credit borrowers by the three internet-only banks (Kakao, K Bank, and Toss Bank) increased by 2.3 to 4.9 percentage points in the second quarter, reaching an average of 27.5%.

According to the Korea Federation of Banks on the 26th, the 'proportion of credit loans to low- and medium-credit borrowers (based on outstanding balance)' was highest at Toss Bank with 36.3%, followed by K Bank at 24%, and Kakao Bank at 22.2%.

This figure represents the share of loans to borrowers with a credit score in the lower 50% (850 points or below) according to KCB standards, within the total household credit loans of each internet-only bank.

Compared to the disclosure at the end of March, Kakao Bank increased by 2.3 percentage points, K Bank by 3.8 percentage points, and Toss Bank by 4.9 percentage points.

The targets set by each internet-only bank for the end of this year are 25% for Kakao Bank and K Bank, and 42% for Toss Bank. The targets for the end of next year are 32% for K Bank, 30% for Kakao Bank, and 44% for Toss Bank.

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