[Alpha Biz=(Chicago) Reporter Paul Lee] The three Internet banks surpassed '100 trillion won in assets'

As of the end of last year, the total assets of the three companies exceeded 100 trillion won, marking the seventh year since the launch of a local Internet bank.

As interest rates on loans were lowered through cost efficiency, household loans surged around mortgage loans, leading to asset growth.

According to the financial sector and financial authorities on the 15th, the total assets of the three Internet banks, Kakao Bank, K-Bank and Toss Bank, exceeded 100 trillion won as of the end of last year. With Kakao Bank's total assets recording 54.48 trillion won, which was the only one to announce its performance, Toss Bank's total assets are also estimated to have grown to 25.74 trillion won. K-Bank's total assets also exceeded 20 trillion won.

Considering that it has been less than seven years since the Internet bank was launched in Korea, it is an amazing growth. Kakao Bank, K-Bank and Toss Bank were launched in July 2017, April 2017 and October 2021, respectively. Internet banks, which had maintained the mandatory portion of mid- and low-credit loans proposed by the financial authorities, have gradually increased their credit stability by launching housing-related loan products since 2022. As a result, assets have risen at a rapid pace.

As of the end of 2022, the total assets of the three companies were only 79.55 trillion won. Then, loan bonds have increased sharply since the first half of this year, and the total assets of Internet banks have expanded to 92 trillion won at the end of April 2023 and 98 trillion won at the end of November. The total growth rate of assets is 25% in a year.

 

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