Kakao Bank reports record 2024 profit as customer base grows

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Kakao Bank reports record 2024 profit as customer base grows

A Seoul office of Kakao Bank, a Korean internet-only bank [NEWS1]

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.
 

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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
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