Kakao Bank sees 21% jump in Q3 net profit on interest income

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Kakao Bank sees 21% jump in Q3 net profit on interest income

Published: 08 Nov. 2023, 09:48

KIM JU-YEON
kim.juyeon2@joongang.co.kr

Kakao Bank posts $72.7 million in net profit, jumping 21 percent from a year earlier in the third quarter, on higher interest income. [YONHAP]

Mobile-only Kakao Bank said its net profit jumped 21 percent from a year earlier in the third quarter, helped by higher interest income.

Third-quarter net profit came to 94.5 billion won ($72.7 million), up 21.2 percent from a year earlier, Kakao Bank said in a regulatory filing on Wednesday.

Revenue surged 59.4 percent on-year to 656.6 billion won, with operating income growing 21.9 percent on-year to 127.5 billion won, it said.

Kakao Bank said its net profit reached 279.2 billion won in the first nine months of the year, up 37.8 percent from the same period last year.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]