The Korea Herald


Kakao Bank's Q3 profit jumps 21% on higher interest income

By Yonhap

Published : Nov. 8, 2023 - 09:30

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(Herald DB) (Herald DB)

South Korean online lender Kakao Bank said Wednesday its net profit jumped 21 percent from a year earlier in the third quarter, helped by higher interest income.

Third-quarter net profit came to 94.5 billion won ($72.7 million), up 21.2 percent from a year earlier, Kakao Bank said in a regulatory filing.

Revenue surged 59.4 percent on-year to 656.6 billion won, with operating income growing 21.9 percent on-year to 127.5 billion won, it said.

In the first nine months of the year, Kakao Bank said its net profit reached 279.2 billion won, up 37.8 percent from the same period last year. (Yonhap)