KakaoBank
Internet-based South Korean bank
From Wikipedia, the free encyclopedia
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.
 | |
Native name | 주식회사 카카오뱅크 |
|---|---|
| Type | Public |
| KRX: 323410 | |
| Industry | Financial services |
| Founded | January 22, 2016 |
| Headquarters | Pangyo, Gyeonggi-do, |
| Key people | Yun Ho-young, CEO |
| Services | Online banking Mobile banking Loan and deposit Debit card Credit Card Overseas remittance |
| ₩649.4 billion (US$456.75 million)[1] (Q4, 2025) | |
| Owners | Kakao Corp., Korea Investment Value Asset Management |
Number of employees | 952 (March 2021) |
| Website | www |
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)
