Good morning. I would like to welcome you to Kakao Bank's earnings conference call. We will start with a presentation by the management, followed by a Q&A Session with our participants. For those of you with questions, please press star and one on your keypad. Now then, we will begin. Third Guarter 2025 Earnings Conference Call for Kakao Bank.
Yes, good morning. This is Diana Kang from Kakao Bank's IR team. I'd like to thank all our analysts and investors for joining us today at our earnings call. We will proceed with a presentation by management via simultaneous translation first, followed by a Q&A with consecutive translation. For those with questions, please press star and number one on your phone. And with that, we will now begin Kakao Bank's earnings call for the third quarter 2025.
Today, we are joined by members of management, including our CEO, Daniel Yun, Vice President Jay Kim, Tae Kwon, our CFO, Sean Kim, Head of the Banking Group, Vesper Ko, Head of the AI Group, Paolo Lee, Chief Business Officer, Conrad Shin, Chief Technology Officer, Buddy Song, Head of the New Business Group, and Eli Lee, our Chief Risk Officer. The financial results contained in today's call are preliminary unaudited results based on K-IFRS. And therefore may be subject to change upon final review by an independent auditor.
Yes, good morning. My name is Kwon Tae-Hoon, Tae Kwon, the CFO from Kakao Bank. Let me take you through our key highlights for the Third Quarter 2025 on page three. Based on a framework view of improving performance based on core competitive drivers, we continue to see G&E growth in the third quarter.
As of the end of the third quarter, the number of customers recorded 26.24 million, up by 1.36 million from the end of 2024. Our deposit balance increased to KRW 65.7 trillion, up 21% year-on-year, with the increase allocated efficiently across loans and treasury management. Meanwhile, platform revenue rose by 7% year-on-year, recording KRW 23.3 billion. Moving on to further details on third quarter results. Page four, this is our customer base. As of the third quarter, our customer base totaled 26.24 million, with continuous inflow from new services, including Mobile ID, MyKid services, and government subsidy search. In the third quarter, MAU was 19.97 million, WAU 14.64 million, as we saw continued solid traffic inflows. Moving on to operating revenue, page five. Third quarter operating revenue was KRW 764.7 billion. On a year-on-year basis, driven by growth in platform revenue and treasury management, operating revenue increased by 2%.
On a QoQ basis, however, operating revenue declined slightly as market interest rate movement led to a decline in interest income from loans as well as income from treasury management. Moving on to deposits, page six. In Q3, our deposit balance totaled KRW 65.7 trillion, up KRW 2 trillion QoQ from even growth across all product categories. The portion of low-cost deposits increased slightly quarter-on-quarter to 59%, which remains above the banking sector average. In order to boost our deposit base, which is a core source of our competitiveness, we are ensuring stable operations for signature products such as group accounts.
As we continue to launch new offerings as well, MyKid services, which was launched in September, while we continue to add to the lineup, which now includes a card account and installment savings account for one-stop management of children's financial assets as we build and expand and integrate it into an asset management platform. Please refer to page seven for details. Page eight for loans. Impacted by external factors like regulations, growth in household loans was minimal, whereas SOHO Loans grew by more than 9% QoQ, with our third-quarter loan balance totaling 45.2 trillion KRW. Given the structural nature of our deposits, comprising a high share of low-cost deposits, during a period of falling interest rates like now, there is limited room for further reduction in our funding costs. Consequently, Q3 NIM was down QoQ, recording 1.81%, although, of course, still significantly above the average of other major commercial banks.
Page nine. In October, looking to expand our coverage onto or into SOHO secured loans, which accounts for 80% of the SOHO loan market, we launched property-backed secured loans. The entire process, from loan application to document submissions and post-loan management after the loan is executed, is all done inside the Kakao Bank app using a chat-based interface as we seek to deliver overwhelming convenience to expand our market share within SOHO lending. Page 10, treasury management. As of the end of the third quarter, driven by a rise in deposit inflows, our treasury management AUM increased to KRW 25.7 trillion as market interest rates rose at the end of the quarter. Valuation gains on funds and other instruments decreased, but this was offset by an increase in interest income from bonds, and on balance, treasury management profit grew by KRW 100 million versus Q2.
Meanwhile, in the third quarter, we invested in a real estate fund for the acquisition of Pangyo Tech One Tower as we continue to diversify our portfolio across alternative assets as we seek to expand treasury management profit on a continuous basis. Pages 11 and 13 are about our main platform business highlights. For our loan comparison service, while the loan execution amount decreased slightly from the impact of household loan regulations in June, we are seeing continued demand for loans and have been working to expand our partnerships and product lineup. For our Ad Platform, we introduced new services such as the Joy of Earning Money, incorporating elements of fun together with benefits to expand traffic and grow the influence of our Ad Platform. And the number of advertisers, of course, seeking us out, is on the rise.
On to our Investment Platform, the MMF Box product, which was released late Q2, continued successful performance. In the third quarter, we captured nearly 70% of the MMF market net incremental at Kakao Bank as we believe it accurately addressed customer needs. Please refer to the respective pages for further details. Page 14. Third-quarter SG&A rose by 17% year-on-year from rising labor costs and advertising and marketing spend for newly launched service promotions. Due to the temporary increase in cost, cumulative CIR was 36.9%, up slightly from 2024. Please refer to the slides for further details on other performance items, and I will move on directly to page 17. At Kakao Bank. We have been featuring customer services incorporating AI since the second quarter.
Following on AI Search and our AI Financial Calculator, which reached 1.3 million cumulative customers to date, in the fourth quarter, we plan to introduce AI Transfer Services, which allows users to carry out remittances and transfers, which are core to mobile banking, using a natural conversational language without any complicated steps. We'll also be launching AI Group Treasurer, which is a group account embedded with AI as we broadly expand AI application across our services. With that, this concludes the key business highlights and financial performance for the third quarter 2025. Thank you. We'll now move on to Q&A. Due to the limited time, I ask everyone to please limit yourselves to two questions each.
지금부터 질의응답을 시작하겠습니다. 질문을 하실 분은 전화기 버튼의 별표와 1번을 누르시기 바랍니다. 질문을 취소하시려면 별표와 2번을 누르시면 됩니다. 원활한 회의 진행을 위하여 질문은 한 분당 두 가지 이내로 부탁드립니다.
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 have pressed the number star 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 each participant.
처음으로 질문해 주실 분은 골드만삭스의 박신영 님입니다.
The first question will be provided by Sinyoung Park from Goldman Sachs. Please go ahead with your question.
안녕하세요. 저 질문 두 가지 드리고 싶은데요. 첫 번째는 저희 대출 성장률이 좀 많이 더딘 것 같은데, 이게 정부 정책하고 맞물려서 기존에 제시해 주셨던 연간 10% 초반대, 이것도 좀 하향 조정이 필요한 건지 궁금하고요. 아니면 이게 소호 부분의 담보 대출 상품 출시에 따라서 4분기에 버퍼를 두려고 일부러 페이스 조절을 하시는 건지 설명 부탁드립니다. 그리고 두 번째는 스테이블코인 관련 라이센스 받는 거에 있어서. 좀 조심스럽기는 하지만 어쨌든 카카오 그룹의 법정 리스크가 완전히 해소된 것 같지는 않아서. 이 부분에 있어서 좀 제약이 있을지 설명해 주시면 좋을 것 같습니다. 감사합니다.
Yes, I have two questions. First, regarding your loan growth, it does seem that growth has been quite slow. It may be due to government policies and whatnot, but do you think that you may need to revise down your initial guidance that you shared at the start of the year, which was around low 10% lending growth? Or is it ahead of the SOHO secured loan product launch? Was it intentional to moderate the pace to leave a bit of a buffer for the fourth quarter? Second question is on Stablecoin regarding licensing. Cautiously, I may say that the legal risk concerning the Kakao Group overall has not been completely alleviated just yet. Do you think that this could potentially serve or present some kind of a constraint on your Stablecoin Initiative?
첫 번째 질문에 대해서 답변드리겠습니다. 6.27 규제 등으로 7-8월 가계 대출 순증은 미미하였으나, 9월부터는 보금자리론을 포함한 여신 순증이 본격적으로 개선되고 있습니다.
Yes. So, impacted from regulations that were announced in June on the 27th, it is true that any net increase in household loans were actually quite minimal throughout the month of July to August. However, starting in September, we saw robust net increase for the policy-backed Bogeumjari Loans.
특히 4분기에는 보금자리론 상품의 실행이 본격화되어 잔액 성장에 더욱 기여할 것으로 예상되며, 그리고 지난 10월에 출시한 개인사업자 담보 대출을 포함한 전체적인 개인사업자 대출 또한 성장을 이끌어가면서 2, 3분기보다는 확실히 개선된 여신 성장률이 될 것으로 전망하고 있습니다.
In the fourth quarter, the Bogeumjari Loans will start, to be executed at full scale and will contribute significantly to driving loan balance growth. Also, we launched the SOHO secured loan product in July, and overall, the SOHO Loans should also be a significant driver of lending growth, and we expect a significant improvement in loan growth relative to the second or the third quarter.
연간 10% 성장률 목표에는 다소 못 미치겠지만, 4분기에는 보금자리론과 개인사업자 대출을 통해 전체적인 여신 성장을 2, 3분기보다는 확실히 개선할 것으로 전망하고 있습니다.
So, while it does seem that we might be slightly off of the initial annual guidance of 10%. Again, in the fourth quarter, we expect that the SOHO Loans and also the Bogeumjari Loans will be a contributor to significant growth, and we, again, expect much higher loan growth in the fourth quarter over Q2 and Q3.
그리고 원화 스테이블코인 사업에 대해서 말씀드리겠습니다.
And then moving on to the Won-Pegged Stablecoin.
아직 법제화 전인 단계라서 구체적인 내용을 언급하기는 어려움이 있습니다.
So, because we do not have legislation passed and in place yet, it is hard to comment at any detail.
그리고 이제 검찰이 지금 현재 항소한 상태라는 점에서 1심 결과로 대주주 이슈가 완전히 해소된 것은 아니라는 것은 맞습니다.
And regarding the ruling by the lower court, I do agree that because the prosecution has since appealed the ruling, the majority shareholder eligibility issue has not been completely resolved.
[Foreign language]
However, for the wider Kakao Group, we have a joint task force that is operational, and we are preparing proactively ahead of the won Stablecoin. So, three parties, Kakao Corp, Kakao Bank, and KakaoPay, are very much involved and working hard to prepare.
카카오뱅크 입장에서는 이제 법제정이 아직 안 되어 있어서 뭐라고 말할 수는 없지만 라이센스를 받는 데는 지장이 없다고 생각하고 있습니다.
We will be seeking to drive group-wide synergy. For Kakao Bank regarding licensing, although again, the law has not been legislated yet, and it is hard to say, but at this point, we do not anticipate any difficulty in acquiring the necessary license.
그리고 스테이블코인 컨소시엄이라는 것은 굳이 재판 결과와 상관없이 컨소시엄에 참여할 수 있습니다.
Actually, the Stablecoin consortium, well, we can actually join the consortium with no problem irregardless of court rulings.
그리고 내년에는 2심 결과가 끝나기 때문에 2심 결과를 바탕으로 불확실성이 어느 정도 해소될 것으로 기대하고 있습니다.
And because of the court decision, the appellate court decision will be finalized next year. We think that that will have the effect of clearing up a lot of the uncertainty.
다음 질문 받겠습니다.
We'll move on to the next question, please.
다음으로 질문해 주실 분은 KB증권의 강승건 님입니다.
The following question will be presented by Seung-Gun Kang from KB Securities. Please go ahead with your question.
예, 질문해 주셔서 감사합니다. 이제 두 가지 있는데요. 하나는 이번에 3분기에 대출 성장률이 그리 높지 않았음에도 불구하고 3분기 RWA는 전 분기 대비 8.2% 정도 굉장히 높게 증가한 것 같습니다. 그래서 이번에 RWA가 이렇게 크게 증가한 이유에 대해서 좀 설명을 해 주시면 감사하겠고요. 두 번째로는 저희 이제 기타 비이자 쪽에 유가증권 관련되어 있는 이제 수익이 저희 이제 반영이 되고 있는데, 최근에 계속 확대된 수신을 감안을 하면 3분기에 유가증권 관련되어 있는 손익이 상대적으로 좀 부진한 것 같습니다. 그래서 그 이유와 이제 향후의 전망 부분들을 좀 말씀을 해 주시면 감사하겠습니다.
Yes, this is Seung-Gun Kang from KB Securities. I would like to also look at the loan growth in the third quarter. So, although lending growth was not very strong, nonetheless, your RWA actually has increased significantly on a QoQ basis around by 8.2%. So, what is the big reason for that jump? And relative to the amount of deposit growth that you have seen, I think under non-interest other revenue, particularly for the securities or marketable securities side, your revenue actually was a little bit sluggish in comparison in the third quarter. So, any reason in particular, and what is your outlook going forward?
[Foreign language]
Yes, in the third quarter, our RWA increased by KRW 2 trillion 226 billion.
이는 태광타워 리츠 투자와 민생 회복 지원금 카드 사용에 대한 일시적인 미수금 발생이 주요 원인입니다.
So, actually, this is mostly due to our investment in the Taekwang Tower REIT fund and also the effect of a temporary rise in accruals from the low-income recovery support program.
[Foreign language]
So, for the Taekwang investment. The RWA was 210%, had the effect of increasing RWA by KRW 960 billion. The accruals, we applied 100% risk weighting, and the effect was about KRW 482.5 billion. For the accruals, however, because this was a temporary accrual, we expect it to recover in the next quarter.
그리고 영업 기타 영업 손익에 대해서 말씀하셨는데. 3분기 영업 수익이 이제 133억 원 감소했습니다.
In the third quarter, our operating revenue decreased by KRW 13.3 billion.
그 주요 원인은 시장 금리 하락에 따라서 여신 관련 수익이 감소하였고, 그리고 9월 말 급격한 시장 금리 상승으로 자금 운용 자산의 평가 수익이 감소하는 데 기인합니다.
So, the main reason was, amid falling market interest rates, we saw a fall overall in our lending-related investment assets. Also, with an increase in interest rates at the end of September, that led to a decrease in our valuation gain.
그리고 특히 이제 비이자 수익 부분에서는 아까 말씀드렸듯이 국고채 금리가 9월 말 1주 정도에서 14 basis points 이상 상승하였습니다. 그래서 이러한 금리의 급등으로 인해서 수익 증권 및 트레이딩 상품 평가액이 축소되었고, 이러한 축소로 기타 수익 감소에 영향을 끼쳤습니다.
And then the main reason for the sluggishness in the non-interest revenue, mostly again, was due to the rapid rise in KTB interest rates in September, where we saw the KTB yield actually go up by 14 basis points very abruptly. So, this again led to a decrease in valuation gains on our trading assets as well as other investment assets.
다만 자금 운용 전체적으로 봐서는 채권 운용의 규모가 확대되었고, 채권 포트폴리오 리밸런싱으로 인해서 운용 손익은 QoQ 증가하는 성과를 거두었습니다.
However, overall, we continue QoQ improvements in terms of our investment yield overall from treasury management, as the size of our fixed income bond holdings increased and reflecting our bond portfolio rebalancing.
그리고 11월 금통위에서 금리 인하 및 2026년도 3분기까지 금리 인하 기조가 이어질 것이라고 전망하고 있습니다. 따라서 이러한 기조 하에서 향후 채권 규모를 좀 늘리려고 하고 있고, 그다음에 국고채보다는 이자 수익률이 높은 고신용 크레딧 비중 조절에 이어서 듀레이션 조절 전략을 병행하면서 유연하게 자금 운용을 해나갈 계획입니다.
And we actually expect the Monetary Policy Committee to cut the benchmark interest rate in November. We think that this kind of overall stance will continue throughout the first half of 2026. That being said, we are intending to increase the size of our bond holdings further, and rather than KTB, we will increase our exposure to the higher yielding, high credit type investments as well. And we will be shifting our duration strategy to be more flexible in terms of managing our assets.
다음 질문 받겠습니다.
Yes, we will move on to the next question, please.
다음으로 질문해 주실 분은 JP모건 증권의 조지현 님입니다.
The following question will be presented by Jihyun Cho from JP Morgan Securities. Please go ahead with your question.
질문들 감사드립니다. 저는 첫 번째로 그 유관비 상승이 좀 계속되고 있는 것 같아서 향후에 개인사업자 대출도 늘리고 계시고, 그 상품군이 좀 확장됨에 따라서 좀 인력이 더 많이 필요할 걸로 예상도 되고, 또 계속 AI 서비스도 늘리고 계셔가지고요. 향후에 이제 인건비를 비롯한 판관비율 계획을 어떻게 잡고 계시는지, 올해 내년 CIR 타겟 있으시면 공유 부탁드리겠습니다. 그리고 이제 막 출시돼서 지금 여쭤보기 좀 이른 감이 없지 않아 있지만, 그 개인사업자 담보 대출의 올해나 내년 성장 목표를 어느 정도로 보고 계시는지 궁금하고요. 또 뭐 가계 대출이 뭐 당장 풀릴 것 같은 상황은 아니기 때문에 만약에 이제 뭐 개인사업자 대출의 그로스가 뭐 생각보다 더디거나 이렇게 규제가 가계 대출 규제가 풀리지 않을 경우에 이제 좀 그 잉여 자본을 배당으로 조금 더 오래 가속화시켜서 배당 성향을 좀 늘리실 계획이 있으신지, 올해나 내년에 배당 성향을 어느 정도로 예상하면 되는지 말씀 부탁드리겠습니다.
Yes, thank you for the opportunity to ask some questions. First, I would like to ask about the drivers behind the rise in labor costs. Actually, as you increase different products, especially SOHO Loans, I do expect that you may need more labor headcount, and also as you increase your application of AI as well. So, what are your plans in terms of SG&A and labor expense in particular for this year and next year, if you could share? And second question, I know it has not been too long since you launched your SOHO secured loan products, but still, what is your growth target for this type of product for this year and next year?
And while it does not seem likely that household loans overall will see growth or substantial growth this year, what about if your SOHO Loans do not grow as quickly as you anticipate, or if the household loan regulations are not unwound? Do you have any intention of perhaps using the resources to further increase your payout? So, overall, what are your payout plans for this year and next year?
예, 첫 번째 질문에 대해서 답변드리겠습니다.
Yes, let me answer your first question.
3분기 판관비는 인건비 및 광고 선전비 증가로 QoQ 80억 원 증가하였습니다.
So, in the third quarter, our SG&A increased by KRW 8 billion QoQ due to a rise in labor costs and also advertising marketing spend.
신규 서비스 출시 등으로 프로모션 진행에 따른 광고 선전비 증가가 두드러졌고, AI 신산업 등 주요 사업 부분 인력 확대에 따라서 인건비 증가도 있었습니다.
As we launched various new service offerings, there was an increase in the advertising or marketing for those promotions. As we increased our hiring for new business areas, including AI, this also led to an increase in labor expense.
[Foreign language]
As of the third quarter, on a cumulative basis, CIR was 36.9%. We do expect that full year CIR is likely to increase slightly from last year levels as we expand hiring, which will lead to higher labor costs, and also due to a rise in IT-related expenses from increasing cloud usage.
다만 2026년에는 비효율적인 비용 관리 기조를 강화하여서 CIR 개선을 위해 노력할 것입니다.
However, in 2026, we will continue to work on improving our CIR further through more rigorous cost-efficient cost management.
다음은 개인사업자 담보 대출에 대해서 말씀드리겠습니다.
And then on to secured loans for SOHO.
지난 10월 개인사업자 담보 대출 출시로 2026년부터 본격적인 개인사업자 부문의 성장이 될 것으로 기대하고 있습니다.
So, with the launch of our SOHO secured products earlier this year in October, we are now fully expecting that this category of SOHO Loans will start to grow in full scale starting next year.
따라서 2026년의 경우 5년 대비 훨씬 성장은 높게 될 것으로 전망하고 있습니다.
Which is why we expect that loan growth for 2026 will be higher than what we saw in 2025.
다만 구체적인 성장률에 관련해서는 현재 경영 계획을 수립하고 있어 구체적인 계획은 확정되는 대로 커뮤니케이션할 계획입니다.
In terms of the actual numbers, I think I can communicate with you later on because we are still in the process of setting up our business plan, but once it is finalized, we will share.
다음은 주주 환원에 대해서 말씀드리겠습니다.
And then on to shareholder returns.
주주 환원은 밸류업에서 발표했듯이 2026년 회계연도 기준으로 주주 환원율을 최대 50%까지 확대할 예정입니다.
So, as we shared at our value-up plan announcement, our plan is to gradually increase our total shareholder return to up to 50% by 2026.
[Foreign language]
So, while we will have to consider our capital ratio and ROE to come up with a final size or scale, we do expect somewhere in the mid-40% range for 2025.
다음 질문 받겠습니다.
We will move on to the next question, please.
다음으로 질문해 주실 분은 DB 증권의 나민욱 님입니다.
The following question will be presented by Minwook Na from DB Securities. Please go ahead with your question.
네, 질문 기회 주셔서 감사합니다. 저 두 가지 질문 드리고 싶은데요. 플랫폼 쪽은 대출 규제랑 카드 수수료 인하 영향으로 계속 성장이 좀 둔화되는 모습인 것 같습니다. 규제는 계속 좀 반영되는 것 같은데, 향후 관련해서 신규 서비스 출시 계획이나 대응 전략 있으시면 설명 좀 부탁드리도록 하겠습니다. 두 번째로는 저희 AI 서비스 준비 현황도 좀 간략하게 좀 봐주시면 감사하겠습니다.
Yes, thank you. I will also ask two questions. I think overall for your platform business, you are seeing some slowdown in growth, largely impacted by loan-related regulations, also the cut in the merchant fee level as well. As we can expect more regulations to come in going forward, what are your plans to mitigate the circumstances, including new service or new product launch, if you could elaborate? Also, second question is on AI. Could you share more of your AI-related plans?
첫 번째 질의 답변드리겠습니다.
Yes, let me address your first question.
3분기 PM 플랫폼 수익은 YOY 기준으로 약 2% 감소하긴 했습니다.
Yes, so for the third quarter of 2025, it is true that we did see a 2% or - 2% decline YOY in our CM Platform revenue.
가장 PM 플랫폼에서 중요한 대출 비금 및 광고 수익의 경우에. YOY로 27%. 각 50% 성장하였지만 P 수익이 체크카드 취급액 증가에도 불구하고 가맹점 수수료율 인하로 인한. YOY 감소가 영향이 컸습니다.
So, in terms of our platform, core offerings include our loan comparison and advertising business, which respectively grew by 27% and 50% YOY. However, the check card, the debit card, although the transaction volume increased, due to the cut in the merchant fee, overall we saw a significant YOY decline in fee revenue.
따라서 카카오뱅크의 사업 펀더멘탈 자체는 견고하다고 생각하고 있으며, 가맹점 수수료율 인하 등 외부 변수로 인해서 P 수익이 축소된 영향이 있다고 생각하고 있습니다.
So, overall, we believe that our underlying business fundamentals remain very solid. It's just the impact of external factors, including the cut in the merchant rate, that led to a decline in our fee income.
그래서 2026년 기준으로 보면 저희들이 예측하건대 대출 비교, 광고, 투자 등 3대 플랫폼의 성장이 지속될 걸로 예상하고 있고, 펀뱅킹, 보금자리론, 공동 대출, 모바일 서베이 등 신규 핵심 서비스를 확대함으로써 두 자릿수의 성장을 기대하고 있습니다.
So, overall for 2026, we expect all three core platform offerings to grow, including our loan comparison, advertisement, and Investment Platforms. And with new service add-ons, including for banking, Bogeumjari L oans, and other Mobile Services, we expect double-digit growth.
다음으로 두 번째 질의에 대해서 답변드리겠습니다.
Then on to your second question.
[Foreign language]
So, we have been applying AI for the products and services that are most frequently used and enjoyed by our bank users, and we are really anchoring ourselves as an AI- native bank.
2025년 상반기까지 AI 스미싱 문자 확인 서비스와 AI 검색, AI 금융 계산기를 선보였고, 하반기에는 아까 말씀드린 바와 같이 AI 이체와 AI 청무로 시그니처 서비스를 최적화된 AI 모델을 결합하여 할 예정입니다.
So, throughout the first half of this year, we introduced the AI Smishing text verification service, as well as our AI Search and AI Financial Calculator as well. In the second half, we followed with AI Transfer and will follow with AI Group Treasurer signature service as well, which embeds and applies optimized AI models to provide for a much significant user upgrade, user experience upgrade.
이를 통해 카카오뱅크는 시중 은행, 시중 금융사 중에서 가장 많은 AI 서비스를 보유하게 되는 은행으로 성장할 것으로 예상하고 있습니다.
And so, relative to any other financial institution in Korea, we believe that we will grow into the number one institution in terms of AI application and use cases.
다음 질문 받겠습니다.
Yes, we will move on to the next question, please.
현재 질문을 요청하신 분은 없습니다. 질문을 하실 분은 전화기 버튼에 별표와 1번을 누르시기 바랍니다.
Currently, there are no participants with questions. Please press star one, star and one to give your question.
다음으로 질문해 주실 분은 골드만삭스의 박신영 님입니다.
The following question will be presented by Sinyoung Park from Goldman Sachs. Please go ahead with your question.
아, 네, 저 질문 하나만 더 드리고 싶은데, 저희 초반 페이지에 보면 이제 연령대별 침투율이 많이 올라갔다고 보이는 차트가 있어서요. 이게 그 어떤 전략을 통해서 이렇게 되는 건지, 이제 특정 상품이 있는 건지, 아니면 여전히 그 모임 통장의 효과로 이런 그 추이들이 나타날 수 있는 건지 설명 부탁드리겠습니다. 감사합니다.
Yes, I would like to ask another question. I think one of your charts showed rising penetration across different age groups. So, how did you achieve this? Was there a certain strategy or maybe a certain product that served as the driver, or is it still primarily the effect of your group account?
처음에 설명드린 바와 같이 저희들이 신규 상품을 3분기에 많이 출시하였는데, 특히 모바일 신분증, 그리고 우리 아이 서비스, 정부 지원금 찾기 서비스 등 신규 서비스에 많은 영향을 끼쳤습니다. 특히 우리 아이 서비스의 경우 부모와 아이와 같이 참여하는 그런 서비스라는 점에서 신규 고객의 유입이 많이 있었다고 생각합니다.
So, as we mentioned in the presentation, there were many new offerings launched in the third quarter, including the Mobile ID, MyKid services, and also searching for government support and subsidies, whatnot. These all have the effect of driving up traffic, especially the MyKid service, as it involves not only the parents but their children as well. So, this was a significant driver in the inflow.
그리고 저희들이 이제 투자 상품 서비스를 굉장히 늘렸는데, 특히 RP, 펀드, MMF 등 자산 활용이 가능한 투자 맥락을 확대하면서 자산을 보유한 상대적으로 높은 연령대의 고객이 지속 유입되고 있습니다.
We also introduced many various investment products, RPs, funds, or MMFs. So, this had the effect of driving a lot of traffic from older-aged users who tend to have more personal assets.
다음 질문 받겠습니다.
We will move on to the next question, please.
다음으로 질문해 주실 분은 교보증권의 김지영 님입니다.
The following question will be presented by Ji-Young Kim from KYOBO Securities. Please go ahead with your question.
네, 안녕하십니까. 교보증권의 김지영입니다. 저는 숫자 하나만 좀 확인하고 싶은데요. 혹시 4분기 대손 비용률 전망 얼마 정도 되는지 궁금하고요. 추가적으로 2026년도 대손 비용률 전망에 대해서도 얘기해 주실 수 있으면 말씀 부탁드리겠습니다. 감사합니다.
Yes, I would just like to check on a number. So, what is your expectation for the credit cost ratio in the fourth quarter and also your outlook for 2026?
예, 6.27% 대손충당률 전망에 대해서 말씀드리겠습니다.
Yes, let me talk about credit cost.
사실 627 규제로 중신용 신용여신 순증 감소로 인해서 충당금 전액 대비 QQ KRW 2 billion은 감소하였습니다.
From the effect of the real estate regulations announced on June 27th, we saw a decrease in net increase in mid-credit loans. As a consequence, our loan loss provisioning also went down by KRW 2 billion quarter-on-quarter.
그리고 4분기에는 정기적으로 진행되는 RC 값 조정으로 추가 전입이 충당금 전입이 발생할 수 있으나, 올해 연간 대손 비용률은 전년 대비 개선된 0.5% 중반 수준이 될 것으로 전망하고 있습니다.
While in the fourth quarter, there might be an adjustment to the asset value, which may actually lead to some increase in provisioning. Overall, we think that credit cost will be somewhere in the mid 0.5% range, which is improved from last year's level.
그리고 내년의 경우 경기 상황, 금리 수준 등 다양한 변수가 있으나 현재로서는 올해와 유사한 수준일 것으로 전망하고 있습니다.
For 2026, we largely believe that it will be similar to this year's levels, although there are lots of uncertainties, including the business cycle or interest rate. That was stated. This is our expectation.
이상으로 카카오뱅크 2025년 3분기 숫자 발표를 마치겠습니다. 오늘 시간 내어 참석해 주신 애널리스트, 투자자, 기자분들께 다시 한번 감사드립니다.
With that, we will now conclude the conference call for the third quarter 2025 for Kakao Bank. We'd like to thank all of our analysts, investors, and the press for your valuable time.