Korea's best bank for digital solutions 2023: kakaobank
Asiamoney is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
AwardsBest Bank Awards

Korea's best bank for digital solutions 2023: kakaobank


The implementation of a clear and successful digital strategy sees kakaobank take best bank for digital solutions in Korea.

More than 70% of the country’s working population are now customers of the bank, after a 14% increase in its customer base to 20.42 million by the end of 2022.

Total deposits increased 10% to W33.1 trillion ($25 billion) in 2022 and kakaobank posted a net profit of W60.6 billion in the final three months of the year, which represented a 67.4% improvement on the same period in 2021.

The bank’s growth can in part be attributed to the appeal of its offering to two core demographics: Gen Z and millennials.

Around 1.61 million customers – a 40% year-on-year increase – aged 14 to 18 now bank with kakobank, while those in their 30s and 40s account for the largest share of kakobank’s customers – just over 36%.

Gift this article