We continue to strengthen our already solid fundamentals, thanks to steady customer base expansion and stable risk management practices. Thanks to continued inflows of 1.19 million new customers year-to-date, our customer base now totals 24.03 million. Our delinquency rate also continues to improve as we maintain sound asset quality. As a result, we posted a record high operating profit of KRW 318.2 billion in the first half, which is an increase of 28% year-on-year. Let me now take you through our second quarter results, starting from page 4, which provides more details on our customer base. I think you can refer to that slide. And moving on to operating revenue on page 5.
In the second quarter, our operating revenue totaled KRW 734.1 billion, up 2% Q-on-Q, driven by growth in interest and platform revenue. Fee revenue was slightly down Q-on-Q from the impact of one-off settlement. But when excluding the one-off, fee revenue also saw stable growth. Meanwhile, marketable securities, including MMF, reported KRW 49.9 billion in revenue, down slightly Q-on-Q. However, investment income from these securities increased on a Q-on-Q basis, which I will state in further detail on page ten. Moving on to deposits, page six. So in the second quarter, our deposit balance recorded KRW 53.4 trillion, up 1% Q-on-Q. The portion of low cost deposits increased by 56.9% Q-on-Q, as we widened the gap versus the broad banking sector.
The funding cost in the second quarter decreased by 11 basis points on the prior quarter, recording 2.31%, as the temporary impact to our cost was alleviated following change to accounting policy in the first quarter and also due to a fall in market rates. Please refer to page 7 for details on performance from our group account products, as well as our new Dollar Box product, which was launched in June of this year. Moving on to page 8, our loans. In Q2, our loan balance totaled KRW 42.6 trillion, 3%, or up 3% quarter-on-quarter, driven by growth across all product categories, including SOHO business owner loans. The share of mid-credit loans was 32.5%, up 0.9 percentage points Q-on-Q.
Second quarter NIM was 2.17%, down by 1 basis point from the first quarter, from a decline in lending rates amid falling market interest. Page nine. At KakaoBank, we have been increasing our guarantee backed loan coverage with the goal of steadily expanding our SOHO loan portfolio. In April this year, we launched our subsidized loans for our SOHO business owners, where the interest is partially subsidized by municipal government. We plan to expand our SOHO subsidized loan coverage from 31% as of the end of June, to 80% by 2025. At the time of launch of our subsidized loans, we also rolled out integrated inquiry services for these subsidized policy loans, where we recommend different guarantee-backed products to best suit the customer's respective situation. We expect a reinforced product line up and convenient offerings to contribute to portfolio expansion going forward.
... 한편, 카카오뱅크는 2025년 개인사업자 담보대출 및 1억 원 초과 신용대출 출시를 계획하고 있습니다. 개인사업자 대출 시장의 절반 이상을 차지하는 큰 시장인 만큼, 향후 완결성 높은 프로세스를 마련하고, 다양한 형태의 자금 용도 및 담보 요건을 포괄하여 개인사업자 고객의 폭넓은 대출 니즈를 충족시키고자 합니다.
Meanwhile, we're also planning to launch SOHO secured loans and credit loans greater than KRW 100 million in value. As this segment makes up more than half of the SOHO lending market, we plan to build an advanced process that can fulfill a wide range of lending needs among SOHO business owners with a high level of operational completeness, providing comprehensive coverage across different types of collateral, while also supporting different financing needs from the borrowers.
10 페이지, 자금운용입니다.
On to treasury management on page 10.
2024년 상반기 채권 및 수익증권을 포함한 투자금융자산 규모는 전년 동기 대비 7% 늘어난 14.7조 원을 기록하였습니다. 투자금융자산 손익은 안정적인 채권운용 및 수익증권 투자 확대에 따라 전년 동기 대비 22% 증가한 2,057억 원을 기록하였으며, 평잔기준 연간 환산 수익률 또한 3.45%를 기록하며 지속적인 성장세를 보이고 있습니다.
In the first half of 2024, our financial investments, which include bonds and beneficiary certificates or funds, totaled KRW 14.7 trillion, up 7% year-on-year. Profit from financial investments recorded KRW 251.7 billion, up 22% year-on-year on stable fixed income investments and also increased investments in funds. Annualized yield based on average balance, sustained uptrend momentum, recording 3.45% in the first half.
11 페이지부터는 피앤 플랫폼 비즈니스 주요 성과에 대해 말씀드리겠습니다.
Let me move on to page 11 on our fee and platform business performance.
11 페이지, 대출 플랫폼입니다.
Page 11, this is our, on our loan platform.
2023년 12월 출시한 신용대출 비교하기는 안정적인 실적 확대으로 카카오뱅크의 대출 플랫폼 비즈니스를 강화하고 있습니다. 이 분기 신용대출 비교하기를 통한 실행 금액 및 실행 건수는 연계 대출을 운영하던 전년 동기와 비교했을 때 두 배 이상 성장한 모습을 보였으며, 전 분기 대비해서도 각각 20%와 18%의 높은 성장률을 기록하였습니다. 하반기에는 제휴 기간 확대, 대출 프로세스 개선 등 서비스 경쟁력 강화에 집중할 예정이며, 이를 통해 시장 내 입지가 더욱 확대될 수 있을 것으로 기대됩니다.
Our credit loan comparison service, which was launched in December 2023, has since shown stable performance expansion, helping reinforce our lending platform business. The value and number of loans executed through the credit loan comparison service have grown by more than double on a year-on-year basis versus last year, where we were offering just referral loans, up 25%, in value and 18% in the number of executed loans, respectively, on a QOQ basis. Going forward, we plan on increasing the number of partnering institutions and improve the lending process to enhance the competitiveness of our service offering, which we expect to help further broaden our presence within the market.
Page 12, investment context.
On to our investment context on page 12.
Processes necessary for IPO subscription from schedule inquiry to account opening and is the only such service in Korea, receiving positive responses with convenient functions designed from the customer perspective, such as the expected allocation quantity calculator. In addition to securities account opening, domestic and foreign stock trading, the investment experience through KakaoBank is expected to be further expanded.
We at KakaoBank have been broadening our presence in the investment context as well by securities, by strengthening our securities and services. Our IPO notification and schedule inquiry service, which was launched in July, is the only such service in Korea, which connects processes necessary to subscribe to an IPO, such as schedule inquiry and account opening. Convenient functions, such as calculating the number of expected allotted shares, which were designed from the user's perspective, have received positive reviews. Alongside our securities account opening service and domestic and global stock trading service, we expect this new offering to help further expand the horizons of our users' investment experience on the KakaoBank app.
13 페이지는 광고 및 미니에 대한 설명입니다. 상세 실적은 해당 페이지를 참고해 주시기 바랍니다. 다음은 14 페이지, 생활 혜택에 대해 말씀드리겠습니다.
Page 13 covers our advertisement business and mini performance, so please refer to the slide for details, and I'll be moving on to page 14 on lifestyle benefits.
14 페이지, 생활혜택입니다.
On page 14.
카카오뱅크는 일상생활과 연결된 혜택형 서비스 확대를 통해 생활 플랫폼 맥락을 강화하고 있습니다. 이에 2024년 6월, 카카오뱅크 앱에서 모바일 상품권을 구매할 수 있는 브랜드 쿠폰 서비스와 모바일 요금제를 비교할 수 있는 통신비 아끼기 서비스를 출시하였으며, 2024년 8월에는 홈 개편을 통해 이러한 서비스들을 모두 담은 혜택 탭을 신설하여 고객 인게이지먼트를 더욱 강화하고자 합니다.
We have been strengthening our lifestyle context through an expanded lineup of benefit-based services that are closely linked to our users' everyday lifestyle. In June, we launched a brand coupon service where users can purchase mobile gift certificates on our app... as well as the telco payment plan comparison service to help users save on telco expenses. In August, we will be completing our home screen renewal and incorporating new benefit tab that will highlight all of these lifestyle benefit related services, which will help boost user engagement even further. Please refer to slides 15 and 16 that contain details on our SG&A and operating profit. Page 17 on asset quality. Second quarter delinquency rose by just 1 basis point Q-on-Q to 0.48%, thanks to stable risk management.
Second quarter loan loss provisioning totaled KRW 55.6 billion, down KRW 4.1 billion Q-on-Q, thanks to stable portfolio expansion. As a result, our credit costs dropped by seven basis points Q-on-Q, recording 0.53%, which is an improvement three quarters in a row. This concludes our financial results and business performance for the second quarter of 2024.
We also Q&A session is.
With that, we will now move on to Q&A. Now Q&A session will begin. Please press star one, that is star and one, if you have any questions. Questions will be taken according to the order you pressed star and number one. For cancellation, please press star two, that is star and two on your phone. In order to allow as many Q&A chances as possible within the restricted time, we would appreciate only two questions per participant. The first question will be presented by Ji-young Kim from Kyobo Securities. Please go ahead with your question.
네, 안녕하십니까? 교보증권의 김지영입니다. 예상을 상회한 좋은 실적 내주셔서 감사하고요. 네, 실적과 관련해서 저는 좀 두 가지 질문이 있습니다. 다름 아니라 이제 가이던스 관련된 내용에서 일 분기 실적 발표 때 얘기하셨던 연간 가이던스를 고려하면, 하반기 대출 성장은 미미하면, 않다면 NIM은 크게 개선된, 되어야 할 것 같습니다. 전반적으로 가이던스에 변화가 없으신지 궁금합니다. 그리고 두 번째로는 이와 관련해서 최근에 이제 규제 환경 속에서 가계 대출에 대한 관리가 이어지고 있는 것으로 알고 있습니다. 그렇다면 결국 대출 성장을 어떻게 이어갈 수 있을지, 그 두 가지 점에서 상세한 설명 부탁드립니다.
Yes, this is Ji-young Kim from Kyobo Securities. Thank you for delivering strong performance, beating our expectations. I have two questions. First, in reference to the full year guidance that you shared during the conference call for the first quarter, it seems to meet that guidance, you would, because loan growth is expected to be minimal in the second half, you would have to see a significant improvement in NIM to be on track to achieve the guidance. Or are there any changes to your guidance? Second question is related to the regulatory environment. It seems that the regulators are enforcing continued control on household loans. So how do you intend to continue to grow your lending?
네, 질문 주셔서 감사합니다.
Yeah, thank you for the question.
첫 번째 질문하신, 그, 가이던스 변화에 대해서 답변드리도록 하겠습니다.
Let me address your first question on changes to our guidance.
지난 실적 발표에서 말씀드린 것과 마찬가지로 여신 성장에 대한 가이던스는 기존과 동일합니다.
Our guidance in terms of loan growth actually is the same and consistent with what we shared with you at the time of the last earnings call.
지난번 설명드린 것과 마찬가지로, 정부의 가계부채 총량 관리 지침에 카카오뱅크는, 성실하게 임하고 있고, 따라서 가이던스의 변화는 없습니다.
And again, as we explained before, our guidance actually remains unchanged, as we are firmly committed to supporting the government in enforcing a cap on aggregated household loan growth.
여신을 비롯한 그 전체적인, NIM에 대한 가이던스는 지난번 저희가 연간 기준으로, 2.2% 내외라는 말씀을 드렸었는데요.
And then in terms of the overall NIM guidance on a full year basis at the last earnings call, we mentioned somewhere between 2.2% as our NIM guidance.
당시에 저희가 추정했던, 금리 환경의 변화보다 최근의 시장 금리의 하락세가 훨씬 더 가파른 상황입니다.
However, recently, the drop in the market interest rate actually has been sharper than anticipated at the time, in terms of the overall changes to the financial environment.
... 그러나 하반기에는, 저희가 수신인 조달의 비용률이, 꾸준히 하향할 것으로 기대하고 있습니다.
However, we are expecting our funding cost to continue to see steady improvement throughout the second half of this year.
그래서 전체적인 NIM은, 당초 설명드렸던 2.2%를 기대하고 있지만, 금리 환경에 따라서는, 이거보다는 약간 하회할 수 있다. 그렇지만 상반기 NIM보다는, 상승할 것으로 저희는, 믿고 있습니다.
And so overall, on balance, we do expect our NIM to be able to achieve the 2.2% guidance. However, we potentially may be slightly off of this level given changes to the financial environment or depending on the changing environment. Still, we do believe that NIM will be higher in the second half versus the first half of this year.
다음으로 대출과 관련한 질문을 주셨는데요.
Now, regarding your second question on loan growth.
저희가 지난 실적 발표 이후에 시장과 기회가 있을 때마다 커뮤니케이션을 드린 바와 같이, 카카오뱅크는 향후에는 개인 사업자를 포함한, 지역 대출에서의 포트폴리오의 성장을 지배하고 있습니다.
So we have actually taken every opportunity in our communications with the market to emphasize that going forward, we want to continue to build our loan portfolio, focused on SOHO business owner loans and other corporate loans as well.
실적 장표에서 설명드린 바와 같이 개인사업자 대출 시장 규모도, KRW 450조나 되는 큰 시장이기 때문에, 먼저 시작된 신용대출 및 보증대출을 통해서 카카오뱅크는 개인사업자 대출 잔액을 순증 기준으로 2024년에 1조 원을 만들어서, 말잔 기준으로 약 2조 원의 포트폴리오를 만들 계획을 가지고 있습니다.
So the size of the SOHO loan market is significant, amounting to about KRW 450 trillion in terms of total scale. We have already started with our credit and guarantee backed SOHO loans, and going forward, we'll continue to build up our SOHO loan portfolio. We're expecting net increase of KRW 1 trillion in balance for this year. And on a ending period average, ultimately, our goal is to grow the portfolio to KRW 2 trillion.
그래서, 장표를 통한 설명에서 드린 바와 같이, 내년에도 개인사업자 대출의 포트폴리오는 지속적으로 확충될 것으로 생각하고 있습니다.
As explained in our slide, we expect to continue to build out our SOHO loan portfolio throughout next year as we seek to achieve that KRW 2 trillion end balance target.
현재 카카오뱅크가 준비하고 있는 구체적인 개인사업자 대출은 크게 두 가지인데, 하나는 1억 원을 초과하는 신용대출이고, 다른 하나는, 개인사업자를 대상으로 한 다양한 형태의 담보부 대출 두 가지입니다.
We are preparing two major types of new SOHO loans. First would be the credit, unsecured loans greater than KRW 100 million in terms of the lending value. Second, we are considering SOHO, secured SOHO loans backed by different forms of collateral.
저희는 대출의 성장 외에도, 대출 고객의 트래픽을 활용한, 플랫폼 비즈니스를 강화하려는 계획도 가시- 동시에 가지고 있습니다.
So, as we grow our loans, at the same time, we want to take advantage of the traffic generated from our borrower or loan customers to continue to build up our platform business as well.
대출 비교 서비스를 통한 신용대출의 성장을 저희가 설명을 드렸었는데요. 향후에는, 주택담보대출이나 전월세대출, 개인사업자대출과 같은 다양한 형태의 상품군을 추가로 대출비교 서비스에 포함하려고 계획하고 있습니다.
So we explained earlier about how the loan comparison service was effective in driving credit loans growth. So going forward, we intend to expand the scope of the different types of loans that are included on the comparison services to include mortgage loans, housing deposit or rental loans, and also SOHO loans as well.
이렇듯, 대출 자체의 성장, 대출 트래픽을 활용한 플랫폼 비즈니스의 성장, 또 여기에 더해서 저희가 강조하고 있는 자금 운용의 성장 등으로 인해서 대출 성장률보다 훨씬 높은 영업이익과 당기순이익의 성장이 가능할 것으로 저희는 기대하고 있습니다.
So, again, our key priority is to grow our loan business, also leverage our loan traffic to build out our platform business as well, and also expand our asset investment side, which we have been focusing on. Ultimately, we believe we will be able to achieve operating profit and net income growth that far, by far surpasses our loan growth.
다음 질문 받겠습니다.
Next question, please.
is Hye-jin Park from Daishin Securities.
The next question will be presented by Hye-jin Park from Daishin Securities. Please go ahead with your question.
네, 안녕하세요. 저 질문, 그, 앞서 말씀해 주셨는데 개인사업자 대출 관련해서 질문을 드리고 싶은데, 그 말씀해 주신 것처럼 저희가 이제 앞으로 대출 성장을 좀 이쪽에서 풀어나가야 된다고 저는 보고 있어서요. 그래서 현재 지금 신용이랑 보증서 대출 취급하고 계시는 걸로 알고 있는데, 6월 말 기준으로 지금 이 비중이 대략 어느 정도 되는지, 좀 설명을 부탁드리겠습니다. 그리고 사실 1억 원 초과 신용대출, 그러니까 개인사업자 쪽에서 1억 원 초과 이제 신용을 좀 출시하신다고 말씀을 주셨는데, 이쪽이 사실 연체율 관리가 쉽지 않은 걸로 제가 알고 있어요. 근데 이제 이게 좀 거액이고, 사실은 좀 굳이 이거를 출시하실 필요가 있나 싶어서, 혹시 이거를 이제 좀 회사가 이제 연체율이나 이런 것들을 관리 가능한 수준이라고 보시는지? 그리고 원래 이제 그 개인사업자 담보대출 연말에 출시할 계획이셨잖아요, 근데 2025년에 출시하신다고 그래가지고, 이게 조금 일정이 뭐 미뤄진 건지, 설명 부탁드리겠습니다.
Yes, I'm Hye-jin Park from Daishin Securities. I would also like to ask more about the SOHO loans that you mentioned. I do believe that this should be a key driver of loan growth going forward for you. As of the end of June, in terms of your SOHO credit loans and the guarantee loans, what is the split or the mix between the two? And you explained plans to launch big sum credit loans for the SOHO owners above KRW 100 million.
So the delinquency rate may be hard to manage with such a large sum loan amount. So, was there a compelling need to actually provide this kind of big sum loan? Do you believe that the delinquency ratio should be within manageable levels? Also, it seems that initially you were planning to launch the SOHO secured loans at the end of this year, but you mentioned now the plan is for 2025. So was the plan postponed?
네, 질문에 대한 답변 드리도록 하겠습니다.
Yes, let me cover your question.
in KakaoBank's individual business loan portfolio, the proportion of credit loans and guaranteed collateral loans is, as of the end of June, 60:40, 60% and 40%.
In terms of the mix between SOHO credit loans and the guarantee-backed SOHO loans, as of the end of June, it's 60% credit loans, 40% guarantee loans.
걱정해 주신 것처럼 개인사업자 포트폴리오의 연체율 관리는 굉장히 긴요한데, 카카오뱅크와 비슷한 시기에 개인사업자 대출을 출시했던 인터넷 전문 은행 간의 연체율이라든가, 또 타 시중은행의 개인사업자 대출 연체율을 아마도 시장에 계신 많은 분들이 이미 잘 알고 계실 거라고 생각합니다.
As you mentioned, of course, managing the delinquency rate on the SOHO loans may be a source of concern. In the market, participants will be well aware of the delinquency rates that other internet specialized banks or commercial banks have recorded on similar type of products.
카카오뱅크는 현재까지, 보증부 대출은 물론, 신용대출의 연체율 관리에 있어서, 탁월한 건전성 관리 실적을 보였다라고 저희는 생각하고 있고, 100,000,000 KRW 초과 신용대출의 경우에는, 카카오뱅크의 개인사업자에 대한 마켓에서의 어떤 presence를 강화한다는 점과, 그리고 100,000,000 KRW 이상 고객의 관심을 카카오뱅크에 유도한다라는, 다양한 관점에서 저희는 반드시 꼭 필요한 대출 상품 라인업이라고 판단하고 있습니다.
We believe that in terms of managing the delinquency of not only our guarantee-backed SOHO loans, but also our credit SOHO loans, so far, we have delivered top performance in terms of the asset quality. In terms of the 100 million or above credit loans, we believe it will be a essential addition to our product lineup, as it will help build up a greater presence within the SOHO loan market, and also draw greater interest and attention from customers who are in the market for loans greater than KRW 100 million.
마지막으로 해주신 질문이, 그 개인사업자 담보대출의 출시 일정과 관련한 것인데, 이게 사실은 그 1억 원 초과 신용대출의 필요성과 연결이 되어 있습니다.
Then your last question was regarding the expected launch date for our SOHO secured loans. Well, this actually is integrated in it very closely linked to the KRW 100 million or above credit loans.
개인사업자 대출은, 가계대출이 아니어서 기업 대출의 일부분으로 반드시, 대출, 실행된 대출 자금에, 사용되어진 용도, 자금 용도를 확인해야 되는 부분과, 그다음에 실제 사업장을, 실사를 해야 된다라는 requirement, 그리고, 무엇보다도 저희가, 중요하게 생각하고 있는, 다양한 형태의 담보물을 모두 상품화할 수 있어야 된다는 세 가지, 상품성의 어떤 개선 과제가 있습니다.
So these SOHO loans obviously are not household loans, as they are classified as corporate loans, and thus must fulfill certain requirements as corporate loans. First of all, the use of the loan actually has to be verified to check that it is consistent with the purported business use. Also due diligence has to be conducted on the actual work site. Also, the ability to provide loans against different forms of diverse collateral also is a key consideration. So these three areas have to be reflected in terms of the improved characteristics of the product.
Uh,
So, again, for the KRW 100 million or greater SOHO loans, checking for the use of the loan proceeds will be a key part of the overall lending process. And so, with that KRW 100 million loan, we will be able to check and verify the robustness of the process, which will actually be applied to the secured loans later on, which are of high value. So previously, as we prepared for the launch of our home mortgage loan product, that process took longer than we had originally expected as well, because additional processes such as setting up the collateral, running the appraisal to value the collateral, so those were required, and they took time.
Also, providing for compliance to regulatory requirements by the government regarding households and specifically home mortgage loans, and to reflect all of this into a non-face-to-face type product process took a lot of time. Likewise, we have to digitalize the collateral valuation process ahead of launching our SOHO secured product. Unlike a home mortgage loan, the collateral that can be put up by the SOHO borrower actually is much more diverse. RTI or other regulatory ratios that would be equivalent to DSR for household loans also has to be adopted and implemented. Because of the combination of these various reasons, it is taking slightly longer than originally expected.
The next question will be presented by Sinyoung Park from Goldman Sachs. Please go ahead with your question.
Goldman Sachs Sinyoung Park입니다. 저는 user activity 관련해서 좀 질문 드리고 싶은데요. 저희가 좀 거의 처음으로 MAU가 조금 축소되는 추이를 본 것 같아요. 그래서 이게 그 대출 비대 영향을 받아서 이런 건지, 아니면 어느 정도 한계점에 도달했다고 생각하시는지 궁금하고요. 과거에는 이럴 경우에 이제 뭐 신규 상품이라든지, 서비스 출시를 통해 가지고 활성화를 좀 이루어왔던 것 같은데, 아무래도 최근에 대주주 적격, 적격성에 대한 이슈가 좀 제기되고 있어서 앞으로 어떤 식으로 이런 user activity를 강화시킬 수 있다고 보시는지 말씀해 주시면 좋을 것 같습니다. 저희가 현재 가지고 있는 기존 license 활용을 통해서 확대할 수 있는, 사업 영역 부분에 대해서 설명 주시면 도움이 될 것 같습니다. 감사합니다.
This is Sinyoung Park from Goldman Sachs. I'd like to ask about your user activity level. It seems that this may be the first time, but we have seen a slight downtrend in your MAU. Is it for any particular reason, or is it just that you have reached a sort of limit in terms of potential growth? In the past, anytime this might have happened, you might try to boost the activity level by introducing new products or services. But at the moment, there's the issue of the eligibility of the largest shareholder that's currently pending, which may be a constraint.
So, basically, how do you intend to boost user activity? And also, are there any other business areas that you can potentially move into, taking advantage of currently available licenses that you already hold? Yeah, thank you for your questions. Let me take them one by one.
...먼저 user activity와 관련한 그 MAU 등과 같은, 지표에 대해서 답을 드리겠습니다.
First, regarding MAU metrics on user activity.
일단 저희가, 동일한 현상을 관측해서 내부적으로 관련 검토가 이루어졌었고, 저희의 결론은, 두 가지로 귀결됩니다.
Internally, we have observed the same phenomena, which was subject to review, and we have reached two conclusions.
첫째는 계절적 요인이 크다라고 판단하고 있습니다.
We think, there is a big seasonality factor involved.
실제로 저희가 칠월 중에 관측한, 동일한 지표에 대한 숫자를 보면, 회복 정도가 아니라 크게, 성장하고 있는 숫자를 보이고 있어서 저희는 계절적인 요인이, 이유 중에 한 부분을 차지하고 있다고 생각하고 있습니다.
So in terms of the metric that we are tracking in July, it's actually moving well above recovery levels, in fact, showing significant growth upside. So we believe any contraction before was due to seasonality in part.
두 번째, 이게 더 중요할 수도 있는데, 이 분기 들어서 저희가 대출과 관련한 카카오뱅크, 대출 상품의 취급이, 상대적으로 일 분기에 비해서 많이 축소가 되었습니다.
The second may be a bigger factor, but in the second quarter, loan products originated by KakaoBank actually decreased significantly versus the first quarter.
그래서 저희가 크게 깨달은 것 중에 하나는, 자체 대출 상품의 취급 규모와, 여신 관련 트래픽이 크게 연관성이 있다라는 사실이었습니다.
So, a key learning or takeaway for us was that between the origination of our own loan products versus loan-related traffic, that between the two, there was a significant correlation or link.
그래서 두 가지 요인을 종합적으로 봤을 때는, 카카오뱅크의 자체 대출 취급액이 감소했음에도 불구하고, 대출 비교 서비스의 트래픽이라든가 취급 금액이 커지는 점, 그다음에 칠월에 들어서, 다양한 서비스에 대한 트래픽이 크게 성장하고 있는 것으로 봐서는 유저 액티비티는 정체에 있는 상황이 아니라 저희의 노력을 통해서는 지금보다도 더 큰 수준으로 크게 성장할 수 있다라고 생각하고 있습니다.
So, reflecting these two factors, although the loan, or our self-loan origination amount may have gone down, nevertheless, in July, we have observed a significant pickup in traffic for various service offerings, including our loan comparison service. And so this shows that our user activity level is actually not stagnant, but it will be a function of how much effort we make, but we do see potential for upside in the activity level.
그래서 실적 발표 장표에서도 설명드린 바와 같이, 저희가 이제 조만간, 혜택 탭을 신설해서 다양한 형태의, 고객 혜택을 강화하는, 노력을 취할 것인데요. 다양한 금융 거래가 나오고 이러한 혜택 서비스가 강화될수록 저희의 고객 액티비티는, 지금보다도 굉장히 높은 수준으로, 성장할 것이고, 이것은 지속적인 고객 유입에 의해서 더욱더 크게 뒷받침될 거라고 판단합니다.
So as we explained in some of the slides, we will be introducing a new benefit tab to our app screen page as we strengthen the benefits that we offer to our customers. As we generate more financial transactions and strengthen our benefit services to our users, if anything, we believe that there is significant upside in terms of the customer activity level beyond current levels, and this will continue to be driven or fueled by sustained inflow of newly acquired users.
다음으로, 사업 영역의 새로운 진출에 대한 질문에 답을 드리도록 하겠습니다.
Regarding your second question, in terms of other business areas that we could potentially move into.
이 부분은 지난 가을 저희가, 설명드린 부분과 크게 다르지는 않습니다.
The status right now is not that different versus what we explained last fall.
대주주 적격성과 관련해서, 분명하게 카카오뱅크의 신규 진출이 제한되어 있는 영역은, 크게 신용카드와, 마이데이터, 그다음에 CB 업과 같은, 그 특정한 영역에 국한되어 있습니다.
So, the business areas that we will be limited in terms of moving into, on account of the large shareholder eligibility issue are quite limited. So specifically, the limited business areas are only the credit card business, MyData business, and the CB business only.
나머지, 이, 비즈니스와 서비스 영역에 있어서는 개별 법령을 살펴보면, 명시적으로 제한되어 있지는 않고, 금융당국의 재량적 판단에 따라서 추가 인가가 주어질 수 있는 형태의 것이 대부분입니다.
So if for other business or service, areas and domains, if you look at the respective governing laws, there are no provisions that specifically stipulate that there are restrictions. It is largely up to the discretion of the regulatory authorities in terms of issuing additional licensing approval.
구체적으로 설명을 드리자면, 투자와 관련한 쪽에서, 투자 자문업과 같은 부분은, 저희가, 진출이 가능한 것으로 저희가 판단하고 있고, 마찬가지로 방카슈랑스와 같은, 보험 영역에 있어서도, 특별한 제약이 없다라고 판단하고 있습니다.
So, as more concrete examples, we believe that we can advance into the investment advisory business, also the bank assurance or insurance related business area. There are no special constraints there either.
또한 저희가 투자 영역에서 관심을 가지고 있는, 집합 투자와 같은 부분, 이미 저희가 라이센스를 받고 있어서 펀드의 판매를 하고 있는데요. 이거 외에도 신탁업법이나 신탁법, 신탁업, 신탁법에서 규정은, 저희가 추가 진출을 금융당국과의 협의 하에, 가능하다라고 저희는 판단하고 있습니다.
We are interested, of course, in collective investment, investment business overall, which we have already acquired a license for, and we are distributing fund products already. But if you look at regulations for the trust investment, for example, we also believe that we will be able to advance into the trust business space, subject to consultation or discussions with the regulatory authorities, but we do believe it is possible.
그런데 사실은 이런 구체적인, 개별 인가를 취득하는 노력도 하고 있지만, KakaoBank의 좀 더 많은 노력은 사실은, 기존에 이미 라이센스를 갖고 있는 금융 회사와의 제휴라든가, 또는 추가적인 어떤 협업에 의한, 아이디어를 고민하고 있습니다.
But at the same time, although we continue to make these efforts to acquire individual licenses, a bigger effort is being placed on partnerships with other financial institutions, for example, that already hold existing licenses, or other collaborative opportunities.
예를 들어서, 지난번에 설명드린 바와 마찬가지로 신용카드에 있어서는 저희의 어떤 인가 취득이 직접적으로 제약이 있다 보니, 저희는 기존의 신용카드사와 적극적인 협업을 통해서 카카오뱅크 자체 신용카드와 동일한 형태의 서비스를 카카오뱅크 애플리케이션에서 제공하는 아이디어를 협의하고 있습니다.
So, for example, we may have mentioned this last time, but because we cannot directly acquire a license in the credit card business, for example, we are working proactively with existing credit card companies and are in current negotiations with some other players to provide what is essentially equivalent services, same as a Kakao Bank branded credit card would be, that would be available on our app.
마지막으로 저희는, 기존의 정부 당국이 적극, 장려하고 있는 혁신금융이라든가, 그다음에 제휴를 통한, 슈퍼 앱과 같은 모습으로도 카카오뱅크 서비스와 가장 잘 결합될 수 있는, 외부의 서비스를 결합하는 방식에 대해서도 적극 검토하고 있고, 해당 회사들과, 협의를 진행 중입니다.
We are also looking with great interest in areas regarding financing, innovation or innovative finance, which is one area promoted by the regulatory authorities. Also, we are looking potentially at the Super App initiative in partnership with other existing service providers. And so we are in talks and discussing potential... with potential partners about potentially adding on various external services on top of our service lineup.
네, 시간 관계상 마지막 질문 받겠습니다.
Yes, because of the time, this will be our last question.
Kwang Myung Chung from DB Financial Investment.
The last question will be presented by Kwang Myung Chung from DB Financial Investment. Please go ahead with your question.
아, 네, 안녕하세요. DB 금융투자의 정광명입니다. 저는 한 가지 질문드리겠습니다. 오늘 기업 가치 제고계획 예고 공시, 좀 인터넷 은행으로서 다른 은행과는 좀 다른 방향으로 진행하실 거라고 생각이 듭니다. 아직 좀 이르긴 하지만 어떤 방향으로 좀 준비 중이신지 공유해주실 수 있는 부분 있으면 좀 답변 부탁드리겠습니다. 감사합니다.
Yes, this is Kwang Myung Chung from DB Financial Investment. I just have one question. You filed a disclosure today, I believe, on plans to enhance your corporate value. I think the overall orientation may be slightly different from that of other internet-only banks. So if you could explain further about the direction?
질문 주셔서 감사합니다. 답변드리겠습니다.
Yes, thank you for the question.
As disclosed today, KakaoBank is planning to disclose the Value-up program after consultations with the board of directors in the fourth quarter.
So as we disclosed earlier today, we are planning to disclose our Value-up program, subject to approval by the BOD, of course, later this year in the fourth quarter.
이미 질문자가 주신 말씀처럼, 카카오뱅크 또한, 기존에 취득했던 자사주 처리라든가, 그다음에 배당과 같은 주주 환원에 관한 부분을, Value-up 프로그램에 담을 예정입니다.
As you may already be thinking, our Value-up program, of course, will include dividend payments, also, what we intend to do with treasury shares that we already bought back.
... 그렇지만 기존 은행권과 달리 카카오뱅크는, 성장이 키워드가 되어야 된다라고 판단하고 있습니다.
Unlike other existing banks, for us, we believe that growth has to be a key word for us.
그런데 이러한 성장은 고객, 사용자 관점에서는 어떤 사용성의 개선과 혁신을 통해서 지속적으로 카카오뱅크가 거래를 해야 되겠다는 요인을 만들 수 있어야 될 것이고, 동시에 카카오뱅크는 단순한 사용성 개선에 그치지 않고, 지속적으로 경제적 효익을 공급할 수 있는 형태의 성장을 이뤄야 된다라고 생각하고 있습니다.
From the user's perspective, we have to continue to improve usability and the innovativeness of our service offerings, so that we can continue to provide incentive for the users to continue to want to use our services. But then for us as a company, we should not stop there, just improving overall usability, as we have to continue to focus on achieving growth that at the same time, where we continue to provide sustainable economic value and utility.
그래서 Value-up 프로그램에는 시장이 궁금해하시는 구체적인 파이낸셜 숫자들, ROA, ROE, CIR, 뭐 이런 내용도 들어가 있겠지만, 저희는 그보다는 카카오뱅크가 예대마진이나 수수료를 어떻게 더 효율적으로 만들어서 사회적 효용을 만들어낼 수 있을 것인지, 그래서 이를 통해서 중저신용자의 대출 공급을 어떻게 지속적으로 해서 전체적으로 포용 금융으로 이끌어 갈지, 이런 고민을 설득력 있는 프로그램으로 저희가 시장과 공식적인 채널을 통해서 커뮤니케이션을 하고자 합니다.
So, the Value-up program that will later be shared, of course, will include detailed financial numbers, including ROE, ROA, and CIR, which may be of interest to the market. But I think more importantly, the program will explain how we intend to achieve greater efficiency in terms of our commission or loan-to-deposit margin to deliver overall social utility or, or benefit to society at large. How we intend to help shape more inclusive financing by continuing with sustained supply of mid-credit loans, for example. So, we believe that we will be able to share a very compelling program with the market later on in our official communication.
Yes, with that, we conclude the second quarter 2024 earnings call for KakaoBank. I'd like to thank all of our analysts, investors and, media, for your time today. Thank you very much.