Kbank Surpasses 15 Million Customers... One in Three Koreans Now a Customer

Surpassing 15 Million Customers Just 18 Months After Reaching 10 Million in March 2024
Rapid Growth Continues as Assets Exceed 33 Trillion Won by End of Q3

K Bank has surpassed 15 million customers. This means that one out of every three people in Korea uses K Bank, marking a significant achievement just a year and a half after reaching 10 million customers in March 2024.

Since launching operations in April 2017, K Bank reached 1 million customers by April 2019, 5 million by May 2021, and 10 million by March 2024. It took four years and one month to reach 5 million after launching, two years and ten months to reach 10 million, and then approximately one and a half years to reach 15 million, indicating an accelerating pace of customer growth. Notably, since last year, an average of 260,000 new customers have joined each month, highlighting the rapid expansion of its customer base.

Alongside customer growth, K Bank's assets have also expanded significantly. At the end of 2023, assets stood at 21.4 trillion won, but by the end of the third quarter of this year, they had surpassed 33.4 trillion won.

A K Bank representative stated, "Growth in individual business customers, innovative products and services that combine attractive interest rates and engaging benefits, as well as proactive partnerships and technology-driven user experience innovations, have all contributed to K Bank becoming an internet bank used by one in three Koreans."

Recent customer growth has been driven particularly by small business owners and self-employed individuals. The number of individual business customers surpassed 2 million last month, doubling from around 1 million at the end of 2023 in just one year and nine months. During the same period, the proportion of individual business customers among all customers grew from 9% to 14%. The cumulative amount of loans extended to individual business owners by K Bank exceeded 3 trillion won last month.

A K Bank official commented, "Our 'President's Real Estate Secured Loan,' the only such product currently offered by an internet bank, had an average interest rate of 3.20% per annum in September, the lowest in the industry. In addition, the speed at which loans can be executed-sometimes within a day and up to three business days-has been a key factor in driving customer growth."

Services that combine high interest rates with character and gamified benefits have also played a significant role in expanding the customer base. The Parking Account Plus Box, which offers one of the highest interest rates in the banking sector, has attracted about 7 trillion won in deposits since last year. The 'ONE Check Card,' launched in September last year, surpassed 1 million customers within 11 months and was ranked the most popular check card by Card Gorilla, Korea's largest credit and check card platform. Gamified app features such as 'Receive Allowance' and 'Grow the Money Tree,' both launched last year, have attracted 1.4 million and 2.5 million users respectively, contributing to overall growth.

K Bank recently extended its partnership with Upbit, Korea's largest virtual asset exchange, for another year to provide real-name verified deposit and withdrawal accounts. Based on a five-year partnership, K Bank and Upbit offer unparalleled convenience in virtual asset transactions. Leveraging this convenience, K Bank plans to further expand its corporate virtual asset market customer base. Additionally, the bank is broadening its reach through financial innovation agreements (MOUs) with Musinsa and Musinsa Payment, as well as by introducing innovative financial services such as 'AI App Translation' and 'AI Consultation Assistant,' both designated as innovative financial services by the Financial Services Commission.

K Bank's achievement of 15 million customers is also attributed to increased brand awareness. The bank has raised brand familiarity among sports fans by advertising the 'K Bank' logo at KT Wiz professional baseball games and KT Rolster esports matches. Furthermore, the installation of branded ATMs at major Seoul subway stations and bus advertisements have naturally exposed the brand to public transportation users.

A K Bank representative said, "Reaching 15 million customers is the result of competitive interest rates, digital innovation, and a convenient user environment in daily life. Moving forward, we will continue to lead new financial experiences by combining product and service innovation with AI-based technology, so that all customers can truly benefit from financial services."

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