Internet-only K-Bank again postpones IPO plan
The K-bank headquarter in Seoul / Korea Times photo by Yoon Ja-young
Internet-only K-Bank said Wednesday that it has decided to push back its plan to go public amid increased market uncertainties.
In October, the company said it will postpone its initial public offering (IPO) till early this year, citing low demand from investors.
The company said it will seek to gauge the appropriate timing for an IPO in the future.
The bank reported its net profit nearly tripled from a year earlier in the third quarter on a sharp increase in both interest and non-interest income.
Net income came to 37 billion won ($26.3 million) in the July-September period, up 181 percent from a year earlier.
In the first three quarters of the year, its net profit stood at 122 billion won, according to the bank.
As of end-September, its customers totaled 12 million, and its deposits and outstanding loans stood at 22 trillion won and 16.2 trillion won, respectively, up 27 percent and 26 percent from a year ago. (Yonhap)