Toss Bank said on the 28th that it posted a net profit of 41 billion won in the third quarter of this year. That is about four times the 10 billion won a year earlier. Cumulative net profit for the third quarter came to 81.4 billion won, up 136% from the same period a year earlier.
As of the end of September, the number of customers was 13.7 million, and monthly active users (MAU) were 9.81 million, up 23% and 26.3%, respectively, from a year earlier. Third-quarter non-interest income rose 52% from 85.4 billion won a year earlier to 129.6 billion won.
As of the end of September, outstanding loans were about 15.45 trillion won, and deposits were about 30.4 trillion won. The loan-loss allowance coverage ratio jumped to 309.7% from 230% a year earlier. The arrears rate fell to 1.07% from 1.20% in the previous quarter, and the nonperforming loan (NPL) ratio was 0.84%. The Bank for International Settlements (BIS) ratio improved by 0.93 percentage points to 16.55% from 15.62% a year earlier.