Kakao Bank logs largest-ever earnings in 2024

Kakao Bank Logs Largest Ever Earnings In 2024

The logo of Kakao Bank / Courtesy of Kakao Bank

The brand of Kakao Financial institution / Courtesy of Kakao Financial institution

On-line lender Kakao Financial institution mentioned Wednesday its web revenue hit a file excessive in 2024 on elevated curiosity earnings and a gradual rise in its buyer base.

Its web revenue got here to 440 billion gained ($299 million) final 12 months, up 24 p.c from a 12 months earlier, the corporate mentioned in a regulatory submitting.

Working revenue surged 26.8 p.c to 607 billion gained over the cited interval.

Income gained 18 p.c on-year to 2.95 trillion gained.

The corporate attributed the sharp improve in its earnings to a gradual rise in curiosity earnings and extra prospects.

Its curiosity earnings got here in at 2.06 trillion gained, up 15.1 p.c from a 12 months earlier, and its non-interest earnings surged 26 p.c on-year to 889 billion gained.

It added its variety of prospects stood at 24.88 million as of end-December, up 2.04 million from a 12 months earlier.

Its month-to-month energetic customers hit 18.9 million, in keeping with the financial institution. (Yonhap)

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