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KakaoBank wins Seoul city commendation for small-business 'Reassurance Account'

KakaoBank said on Monday it won a commendation from the Seoul city government for efforts to improve financial access for small businesses in Seoul. The award recognises its participation in Seoul-backed support programmes including the launch of the non-face-to-face guaranteed overdraft loan product called the Reassurance Account. KakaoBank said more than 30 percent of users chose it under the second programme, and 260 billion won of 400 billion won in lending was executed through the bank.