South Korea · Delayed Price · Currency is KRW KakaoBank Earnings Call Transcripts
Fiscal Year 2025
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Customer and deposit growth remained robust in 2025, with operating profit and NIM both improving year-on-year. Platform and fee income are targeted to grow over 20% in 2026, while disciplined risk management and new product launches support continued expansion.
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Customer and deposit growth remained strong, with new services and AI driving engagement. Loan growth is expected to accelerate in Q4, though annual targets may be missed due to regulations. Shareholder returns and AI initiatives are set to expand in 2026.
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Customer and deposit growth remained strong, with operating profit at KRW 353.2 billion for H1 2025. NIM guidance was revised to 1.9% amid market rate changes, and loan growth is expected to reach 10% for the year, driven by SOHO and policy loans.
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Deposit growth outpaced loans, lowering the LDR to 73.3% and driving a shift to short-term investments. NIM declined due to asset allocation, but platform and fee revenues grew year-over-year. Asset quality remained stable, and AI-enabled services will launch from May.
Fiscal Year 2024
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Customer and deposit growth drove a 27% rise in operating profit and 31% increase in platform revenue year-over-year. 2025 guidance targets stable loan growth, double-digit platform revenue gains, and a payout ratio rising to 50% by 2026, with NIM expected to be around 2%.
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Q3 2024 saw record operating profit and continued growth in customer base, deposits, and SOHO loans. Platform and fee revenues rose, while credit costs and delinquency rates remained stable. Expansion in Indonesia and plans for Thailand signal ongoing international growth.
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Record H1 operating profit and customer growth were driven by strong loan and deposit expansion, with SOHO loans and platform services as key growth drivers. NIM guidance remains at 2.2% for the year, though market rates may impact results. Value-up program to be detailed in Q4.