Kakao Bank reports record 2024 profit as customer base grows
Published: 05 Feb. 2025, 09:46
![A Seoul office of Kakao Bank, a Korean internet-only bank [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2025/02/05/19054a9a-4409-4277-a6bd-3eb6d019d025.jpg)
A Seoul office of Kakao Bank, a Korean internet-only bank [NEWS1]
Online lender Kakao Bank said Wednesday its net profit hit a record high in 2024 on increased interest income and a steady rise in its customer base.
Its net profit came to 440 billion won ($299 million) last year, up 24 percent from a year earlier, the company said in a regulatory filing.
Operating profit surged 26.8 percent to 607 billion won over the cited period.
Revenue gained 18 percent on-year to 2.95 trillion won.
The company attributed the sharp increase in its earnings to a steady rise in interest income and more customers.
Its interest income came in at 2.06 trillion won, up 15.1 percent from a year earlier, and its noninterest income surged 26 percent on-year to 889 billion won.
It added its number of customers stood at 24.88 million as of end-December, up 2.04 million from a year earlier.
Its monthly active users hit 18.9 million, according to the bank.
Yonhap
with the Korea JoongAng Daily
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