Search results for SBI Savings Bank
Finance
Digital asset cross-industry ties spread as top 4 financial groups post 11 trillion won profit era
Big Tech, financial firms and payment companies in South Korea are widening digital-asset initiatives by teaming up with global blockchain companies. Kakao Group and Toss and Toss Bank are working with Circle to review stablecoin-based payment and settlement infrastructure and tokenised financial services. Banks are developing cross-border remittance and payment models. Separately, the top four financial holding groups posted combined first-half net profit above 11 trillion won, while regulators step up group-level oversight of fintech expansion.
Finance
Toss, SBI Savings Bank launch mid-rate loans for middle-to-low credit borrowers
Viva Republica, operator of Toss, will introduce mid-rate credit loans for middle-to-low credit borrowers with SBI Savings Bank using alternative credit assessment. Toss said it signed a business agreement with SBI Savings Bank on July 16 in Seoul to expand inclusive finance. The product, SBI Inclusive Loan with Toss, is set to launch on July 27 and will be available only through the Toss app, with annual interest rates of 7.9 to 13.5 percent.
Finance
Mid-rate livelihood stability loan launched for mid-to-low credit borrowers, up to 10 million won
South Korea has launched a mid-rate livelihood stability loan for mid-to-low credit borrowers in the bottom 50 percent of credit scores. The unsecured loan allows up to 10 million won per borrower across all financial institutions. Initial providers include six savings banks. Interest rates range from 5.9 percent to 15.27 percent, depending on borrowers’ credit profiles and lenders’ systems. Borrowers must agree not to buy a home for 1 year or until full repayment.
