Internet-only K-Bank again postpones IPO plan

The Ok-bank headquarter in Seoul / Korea Instances picture by Yoon Ja-young

Web-only Ok-Financial institution stated Wednesday that it has determined to push again its plan to go public amid elevated market uncertainties.

In October, the corporate stated it’ll postpone its preliminary public providing (IPO) until early this yr, citing low demand from traders.

The corporate stated it’ll search to gauge the suitable timing for an IPO sooner or later.

The financial institution reported its internet revenue practically tripled from a yr earlier within the third quarter on a pointy improve in each curiosity and non-interest revenue.

Internet revenue got here to 37 billion gained ($26.3 million) within the July-September interval, up 181 % from a yr earlier.

Within the first three quarters of the yr, its internet revenue stood at 122 billion gained, based on the financial institution.

As of end-September, its clients totaled 12 million, and its deposits and excellent loans stood at 22 trillion gained and 16.2 trillion gained, respectively, up 27 % and 26 % from a yr in the past. (Yonhap)