In the first quarter of this year, the share of new unsecured loans to mid- and low-credit borrowers at internet-only banks exceeded 30% across the board, surpassing the targets set by the financial authorities (32% for new loans, 30% for outstanding loans).
According to disclosures from the Korea Federation of Banks and each company on the 22nd, the share of new unsecured loans to mid- and low-credit borrowers in the first quarter, based on new origination, was 45.6% at KakaoBank. Toss Bank was at 34.5%, and Kbank was at 33.6%.
Based on outstanding balances, the share of unsecured loans to mid- and low-credit borrowers was 34.7% at Toss Bank. That was followed by KakaoBank at 32.3% and Kbank at 31.9%.
KakaoBank supplied 450 billion won in unsecured loans to mid- and low-credit borrowers (individuals and sole proprietors) in the first quarter of this year. Since its launch in July 2017, cumulative mid- and low-credit lending has reached 16 trillion won. The share of mid- and low-credit loans in the outstanding loan balance has tripled compared with 10.2% at the end of 2020. The cumulative volume of additional mid- and low-credit loans supplied using an alternative credit scoring model has exceeded 1.1 trillion won.
Since its launch in 2017, Kbank's cumulative supply of unsecured loans to mid- and low-credit borrowers totaled 8.66 trillion won as of the first quarter. The supply of private mid-rate loans in the first quarter was 245 billion won, the highest among internet-only banks.
Toss Bank supplied 457.4 billion won in first-quarter people's policy products (Hae-sal Loan, Saitdol, Saehuimang Holssi, Saenal Loan for sole proprietors, etc.). The cumulative total came to 2.5628 trillion won.