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
KRW 46.7 billion (2021.Q1)
OwnersKakao Corp., Korea Investment Value Asset Management
Number of employees
952 (March 2021)
Websitewww.kakaobank.com eng.kakaobank.com

KakaoBank Corp. (stylized as Kakaobank; Hangul: 주식회사 카카오뱅크) is a South Korean mobile-only bank and financial technology company established in 2016 by Korea Investment Holdings and Kakao Corp.

History

The banking service went public in July 2017 and attracted more than 240,000 customers within its first 24 hours. As of July 11 2019, Kakaobank had more than 10 million customers.[1] As of March 31, 2021, Kakaobank has more than 14.2 million customers.

Valuation

In October 2020, the Kakabobank's corporate valuation was around KRW 8.6 trillion through KRW 750 billion-capital, raising from the U.S-based private equity TPG Capital and current shareholders.[2]

IPO

On September 25, 2020, Kakaobank officially announced its IPO plan publicly.[3] The bank picked KB Security and Credit Suisse as lead managers for its IPO, with Citi as a co-manager.[4] According to a local media report, Kakaobank would submit the IPO application to a Korean exchange on April 15, 2021.[5]

App

Kakaobank provides products via its mobile apps which adopt easy identification (KYC) methods. In July 2019, kakaobank's Android app was recognized as the top banking app based on MAU and the most downloaded banking app in the country by igaoworks.[6]

References

  1. ↑ "Kakao Bank accounts top 10 million". The Korea Herald. Retrieved July 12, 2019.
  2. ↑ "Kakao Bank issues new shares to major U.S. hedge fund". Korea JoongAng Daily. Retrieved October 27, 2020.
  3. ↑ "Kakao Bank makes IPO plans official". Korea Herald. Retrieved September 24, 2020.
  4. ↑ 카카오뱅크 IPO 대표 주관사에 KB증권·CS 선정 (in Korean). The Chosun Biz. Retrieved December 11, 2020.
  5. ↑ 카카오뱅크, 오는 15일 상장 예비 심사 청구 예정…7월 코스피 입성하나 (in Korean). The Financial News. Retrieved April 13, 2021.
  6. ↑ 인터넷銀 반란 시작…카카오뱅크, 시중은행 뱅킹 앱 사용자 압도 (in Korean). IT Chosun. Retrieved August 22, 2019.
  • Official website
  • Official website (English)
  • Business data for KakaoBank Corp:
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