Kakao Bank will resume limited credit loan sales from the 14th, which had been temporarily suspended since October last year.
In the meantime, Kakao Bank has effectively stopped selling credit loans, which were centered on high-credit users, in accordance with the financial authorities’ guidelines for ‘expansion of medium-interest loans’.
However, it is interpreted that the new government’s easing of loan regulations, along with concerns about customer churn due to the prolonged suspension of credit loans, were taken into account.
As of the end of March, the proportion of Kakao Bank’s credit loans to low-medium and low-credit users was 19.9%, far below the 25% target set for the end of this year.
It is also lower than K-Bank (20.2%) and Toss Bank (31.4%) during the same period.
In response, Kakao Bank plans to resume new credit loan sales, but set a limit on the number of applications per day.
As of the 14th, Kakao Bank’s credit loan interest rate is 3.14% to 6.42% per annum, with a maximum limit of 100 million won.
An official from Kakao Bank said, “We will make every effort to ensure that the supply of loans centered on actual users can be achieved.”
By Jung Gong-ho, staff reporter [email protected]