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K bank meets 76% deposit target in 45 days

PUBLISHED : May 17, 2017 - 15:30

UPDATED : May 17, 2017 - 15:30

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[THE INVESTOR] K bank, Korea’s first internet-only bank, said on May 17 it has achieved 76 percent of its full-year target of attracting in 45 days.

K bank, which was launched on April 3, has attracted 380 billion won (US$339.20 million) in deposits, compared with this year’s target of 500 billion won.

The bank has also made loans worth 310 billion won, compared with this year’s target of 400 billion won, the bank said.

The pace of growth in K bank’s deposits and loans is much faster than expected, financial authorities said previously. The number of customers stands at more than 300,000 people, the bank said.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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