KakaoBank

KakaoBank
Native name
주식회사 카카오뱅크
TypePublic
KRX: 323410
IndustryFinancial services
FoundedJanuary 22, 2016 (2016-01-22)
HeadquartersPangyo, Gyeonggi-do,
South Korea
Key people
Yun Ho-young, CEO
ServicesOnline banking
Mobile banking
Loan and deposit
Debit card
Credit Card
Overseas remittance
₩649.4 billion (US$456.75 million)[1] (Q4, 2025)
OwnersKakao Corp., Korea Investment Value Asset Management
Number of employees
952 (March 2021)
Websitewww.kakaobank.com eng.kakaobank.com

KakaoBank Corp. (stylized as Kakaobank; Korean: 주식회사 카카오뱅크) is a South Korean financial institution specializing in mobile banking services and financial technology. It was founded in 2016 through a collaboration between Korea Investment Holdings and Kakao Corp.

History

KakaoBank launched July 2017, acquiring over 300,000 customers within its inaugural 24-hour period and two million customers within a fortnight.[2] In June 2019, the bank reported deposits totaling ₩17.6 trillion (US$15.57 billion) and loans amounting to ₩11.3 trillion (US$10 billion).[3] As of July 11, 2019, KakaoBank boasted a customer base exceeding 10 million individuals.[4] That same year, KakaoBank reported its first net profit.[5]

In 2021, KakaoBank reported a customer count surpassing 17.4 million, with 14.7 million monthly active users.[6] By the end of 2025, KakaoBank had 26.7 customers with 20 million monthly active users.[1]

Valuation

In October 2020, KakaoBank achieved a corporate valuation of approximately KRW 8.6 trillion, following a capital infusion of KRW 750 billion from U.S.-based private equity firm TPG Capital and existing shareholders.[7] By the end of 2025, KakaoBank had 26.7 customers, with 20 million active users.

IPO

On September 25, 2020, KakaoBank publicly disclosed its intention to initiate an Initial Public Offering (IPO).[8] The bank selected KB Security and Credit Suisse to serve as lead managers for its IPO, with Citi appointed as a co-manager.[9] According to a report from local media, KakaoBank was scheduled to submit its IPO application to a Korean exchange on April 15, 2021.[10] Kakao Bank went public in October 2021.[11]

Expansion into foreign markets

In 2023, KakaoBank expanded into the Indonesian market by acquiring a 10% stake in the Indonesian digital bank, Superbank,[12] which began publicly trading in 2025.[13] Also in 2023, KakaoBank formed a consortium with SCB X, the holding company for a leading Thai bank, Siam Commercial Bank.[14] In 2025, the KakaoBank-SCB X consortium was granted a license to bank in Thailand,[14] and in January 2026, an agreement was signed to launch a digital banking platform in Thailand in partnership with the Chinese bank WeBank.[15] This makes KakaoBank the first Korean bank to enter the Thai market since the 1997 Asian financial crisis.[15]

App

KakaoBank utilizes modern Know Your Customer (KYC) methods such as the use of a selfie as proof of identity.[2] In July 2019, KakaoBank's Android app was identified as the leading banking application in Korea, by monthly active users and number of downloads.[16]

A significant shareholder, Kakao Corp, operates the messaging application KakaoTalk, which was used by 88% of South Koreans at the bank's inception.[3]

List of past bank presidents

  • Yun Ho-yeong (2016–present)
  • Lee Young-u (2016–2020)

See also

References

  1. ^ a b Jun Ji-hye (2026-02-04). "KakaoBank posts record profit for 2025 on higher non-interest income". www.koreatimes.co.kr. The Korea Times. Archived from the original on 2026-02-05. Retrieved 2026-04-30.
  2. ^ a b Moden, Nigel. "How a social media firm created Korea's fastest growing bank". Ernst & Young. Archived from the original on 2025-07-14. Retrieved 2026-04-30.
  3. ^ a b "Kakaobank: The single application is everything". Asiamoney. Archived from the original on 2023-12-09. Retrieved 2024-03-25.
  4. ^ "Kakao Bank accounts top 10 million". The Korea Herald. 12 July 2019. Archived from the original on 2025-08-25. Retrieved July 12, 2019.
  5. ^ "KakaoBank's push beyond Korea may benefit from messaging app popularity". S&P Global Market Intelligence. Archived from the original on 2026-02-10. Retrieved 2026-04-30.
  6. ^ 성기호 (November 3, 2021). "거침없는 인뱅 인기…케뱅·카뱅 3분기 호실적". 아시아경제 (in Korean). Archived from the original on 2026-04-30. Retrieved 2026-04-30.
  7. ^ "Kakao Bank issues new shares to major U.S. hedge fund". Korea JoongAng Daily. 27 October 2020. Retrieved October 27, 2020.
  8. ^ "Kakao Bank makes IPO plans official". The Korea Herald. 24 September 2020. Retrieved September 24, 2020.
  9. ^ 카카오뱅크 IPO 대표 주관사에 KB증권·CS 선정 (in Korean). ChosunBiz. Retrieved December 11, 2020.
  10. ^ 카카오뱅크, 오는 15일 상장 예비 심사 청구 예정…7월 코스피 입성하나 (in Korean). The Financial News. 13 April 2021. Retrieved April 13, 2021.
  11. ^ Huang, Eustance (2021-08-06). "Shares of South Korea's Kakao Bank jump nearly 80% on the first day of trading". CNBC. Retrieved 2026-03-27.
  12. ^ Jun Ji-hye (2025-12-14). "KakaoBank accelerates overseas expansion with Indonesian digital bank". www.koreatimes.co.kr. The Korea Times. Archived from the original on 2025-12-16. Retrieved 2026-04-30.
  13. ^ 김나경. "카카오뱅크 첫 글로벌 투자처 '슈퍼뱅크' 상한가…"해외진출 혁신"" (in Korean). Edaily. Archived from the original on 2025-12-19. Retrieved 2026-04-30.
  14. ^ a b MinJi Kim (2025-06-25). "Kakao Bank, cruising in Indonesia, expectations for expansion into Thailand". TopDaily. Archived from the original on 2026-04-30. Retrieved 2026-04-30.
  15. ^ a b Jun Ji-hye (2026-01-22). "KakaoBank teams up with SCBX to launch virtual bank in Thailand". www.koreatimes.co.kr. The Korea Times. Archived from the original on 2026-01-23. Retrieved 2026-04-30.
  16. ^ 유진상 (22 August 2019). 인터넷銀 반란 시작…카카오뱅크, 시중은행 뱅킹 앱 사용자 압도 (in Korean). The Chosun Ilbo. Retrieved August 22, 2019.
  • Business data for KakaoBank Corp:
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