K Bank Makes Third Attempt at IPO, Files for Preliminary Listing Review

Aiming for KOSPI Listing in the First Half of Next Year

K Bank is making its third attempt at an IPO (initial public offering).

On November 10, K Bank announced that it has submitted a preliminary listing review application to the Korea Exchange for listing on the KOSPI (Korea Composite Stock Price Index) market. The lead underwriters are NH Investment & Securities and Samsung Securities. K Bank aims to be listed on the KOSPI in the first half of next year, following approval of the preliminary review.

K Bank was established in January 2016 as Korea's first internet-only bank and began operations in April 2017. As of the end of the first half of this year, its total assets stood at 29.5319 trillion won, with equity capital of 2.1823 trillion won. After achieving its first annual net profit of 22.5 billion won in 2021, K Bank recorded its highest-ever net profit of 128.1 billion won in 2024. In the first half of this year, net profit was 84.2 billion won, with second-quarter net profit reaching a quarterly record of 68.2 billion won, showing significant growth.

K Bank explained that it continues to see steady growth in both its customer base and overall scale. As of last month, the number of customers surpassed 15 million. As of the end of the third quarter this year, deposit balances reached 30.4 trillion won, up 38.5% year-on-year, while loan balances increased by 10.3% to 17.9 trillion won. In the first half of this year, its return on equity (ROE) was 8.09%, and its delinquency rate was 0.59%, maintaining strong profitability and soundness indicators.

A K Bank representative stated, "Through the IPO, we plan to strengthen our business foundation, expand productive finance including entry into the SME market, accelerate our transition to an AI Powered Bank, enhance our leadership in digital assets, and practice inclusive finance. We will make thorough preparations to ensure that our true corporate value is recognized through the listing."

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