Korea Business News Agency - NSP NEWS AGENCY.

(Graph = Kbank)

(Seoul=NSP NEWS AGENCY) = Kbank, an internet-only bank, attracted 10 million customers and is now waiting for an IPO. The keys to such popularity were good interest rates, distinctive technologies, such as AIs, and various investment opportunities.

Kbank’s customer base kept growing to 10 million as of February 26, from 7.17 million at the end of 2021, 8.2 million at the end of 2022, and 9.53 million at the end of 2023.

In particular, in 2024, a daily average of three times more new customers flocked to the bank than last year. During the period, Kbank grew as a balanced bank with 21 trillion won of savings and 15 trillion won of loans.

By age, 1 out of 3 Koreans in their 20s to 40s used Kbank, and even 1 out of 5 Koreans in their 50s were Kbank’s customers. Those in their 60s or older and teens or younger made up about 30% of the people who opened the Kbank bank account this year, showing a diversifying customer age base.

t is easy to access regardless of time and place by using the smartphone, so its customers are found all around Korea, as its nickname “nationwide bank” said. Seoul was where the most Kbank customers were located (21%), while other regions saw 15 to 20% of their populations using Kbank. Even Jeju Island, Kbank’s smallest customer base in Korea, had 13% of Kbank users in its population.

Among 10 million customers, males account for 60% and females 40%.

By Hyun-jin Kim(kimhj30310@nspna.com) and Soo-in Kang(sink606@nspna.com)

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