Kakao Bank logs record earnings on rise in interest, non-interest income

SEOUL, Nov. 4 (Yonhap) -- Leading online lender Kakao Bank said Wednesday it posted record earnings in the first nine months of the year due to a rise in both interest and non-interest income.

Net profit during the January-September period rose 25.2 percent from a year earlier to a record high of 469 billion won (US$350 million), the company said in a statement.

Its operating profit rose 7.75 percent on-year to 543 billion won over the cited period. Revenue increased 8.68 percent to 2.52 trillion won.

During the third quarter alone, its net profit reached 142 billion won, up 27 percent from a year earlier, the internet-only service provider added.

In the first three quarters, its interest income gained 10 percent on-year to 1.64 trillion won, and non-interest income also rose 6.4 percent to 888 billion won.

As of end-September, the number of the bank's customers had stood at 27.94 million. Its monthly active users reached 20.57 million.

sam@yna.co.kr
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