Kakao Bank accumulates over 5 trillion won in depositsKakao Bank, one of two internet banks operating in Korea, said Monday that it has attracted over five million accounts about six months after launching operations.
The bank opened last July and is run by a consortium led by Kakao, operator of Korea’s most widely used chat app. As of Sunday, the bank has attracted deposits worth 5.1 trillion won ($4.78 billion) and made loans worth 4.7 trillion won, the bank said.
With paid-in capitalization of 300 billion won, Korea Investment Holdings and Kakao each hold 58 percent and 10 percent stakes in Kakao Bank.
The consortium also includes KB Kookmin Bank, eBay and Tencent Holdings.
More in Finance
Seoul stocks slip as foreign investors sell
Kosdaq passes 1,000 in trading for first time in 20 years
What went up must come down as Kospi falls 2.14%
Leveraged punters worry the financial regulators
Kosdaq surpasses 1,000-mark during trading Tuesday