Kbank () is an
online bank
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institut ...
based in
South Korea
South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...
. Its largest owner is the telecommunications company,
KT Corporation
KT Corporation (Hangul: 주식회사 케이티), formerly Korea Telecom, is a South Korean telecommunications company, mobile network operator (MNO) and List of mobile virtual network operators in South Korea, mobile virtual network operator (M ...
.
History
Kbank launched in 2017, when both KT and
Kakao
Kakao Corporation () is a South Korean internet conglomerate headquartered in Jeju City. It was formed through the merger of Daum Communications and the original Kakao Inc. in 2010. The company was renamed Daum Kakao in 2014. In 2015, it was ...
were given licenses to launch Internet-only banks in Korea.
These two became the first new banks to launch in two decades. The bank attracted 250,000 customers in its first two weeks.
In May 2021,
MBK Partners
MBK Partners (MBKP) is a private equity firm focused on North Asia. According to Forbes, MBK Partners is one of the largest private equity firms in Asia.
In 2023, ''Private Equity International'', ranked MBK Partners as the eighth largest privat ...
and
Bain Capital
Bain Capital, LP is an American Investment company, private investment firm based in Boston, Massachusetts, Boston, Massachusetts, with around $185 billion of assets under management. It specializes in private equity, venture capital, credit, p ...
invested 200 billion won each in Kbank to become the second largest shareholders of the bank.
In September 2022, Kbank received approval for its
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
on the
Korea Exchange
Korea Exchange (KRX, ) is the sole securities exchange operator in South Korea. It is headquartered in Busan, and has an office for cash markets and market oversight in Seoul.
History
The Korea Exchange was created through the integration of K ...
although timing had not been determined yet.
Services
Kbank offers the same products as traditional banks from debit cards to small loans.
See also
*
List of banks in South Korea
This is a list of South Korean banks and the parenthesized number is the bank number.
Central bank
*Bank of Korea (001)
Specialized banks
Specialized banks are financial institutions established under a special act, not the Korean Banking Act. T ...
References
External links
Official website(Korean)
{{Banking in South Korea
Online banks
Banks established in 2016
Banks of South Korea
South Korean companies established in 2016
Bain Capital companies