[Featured Stock] KakaoBank Surges Over 11% Intraday on Record-Breaking Earnings
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[Asia Economy Reporter Minji Lee] KakaoBank is rising more than 11% intraday, supported by strong earnings.
At 9:23 a.m. on the 2nd, KakaoBank recorded 19,350 KRW, up 11.85% from the previous trading day. The stock price surged to 19,400 KRW intraday.
The stock price increase was driven by strong third-quarter earnings. The company announced that its net profit for the third quarter reached 78.7 billion KRW, a 51% increase compared to the same period last year. Operating revenue was 411.8 billion KRW, and operating profit was 104.6 billion KRW, marking the highest quarterly figures ever.
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On the same day, KakaoBank stated that it will strengthen its business by expanding mortgage loan products within the fourth quarter. The company said, "We also plan to promote the certification business by acquiring licenses such as 'Authorized Electronic Document Intermediary' and 'Electronic Signature Certification Provider' within this year."
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