Search results for Sunshine Loan
Finance
Toss Bank Q1 net profit 29.6 billion won, up 58.3 percent
Toss Bank said on Thursday its first-quarter net profit rose 58.3 percent from a year earlier to 29.6 billion won. Total customers reached 14.87 million, up 19.3 percent, and surpassed 15 million by end-April. Loans outstanding rose to 1.55 trillion won, while deposits totalled 2.90 trillion won. Delinquency and NPL ratios fell, and the BIS capital ratio rose to 16.62 percent.
Finance
KakaoBank cuts New Hope and Sunshine Loan rates to mid-4 percent range
KakaoBank will cut interest rates on policy-backed loans for low-income and financially vulnerable borrowers to ease interest burdens. It said the cuts take effect on May 15 for its New Hope Loan II and Sunshine Loan products. New Hope rates fall by 0.30 percentage points and Sunshine Loan rates by 0.75 percentage points. KakaoBank plans to offer both at minimum rates in the mid-4 percent range.
Finance
Inclusive finance pressure mounts, raising tensions in South Korean banks
Pressure from the government to expand inclusive finance is spreading across the financial sector, deepening banks’ 고민. Financial firms agreed to sell bonds held by a private bad bank after President Lee Jae-myung criticised long-term debt collection. Regulators plan to expand policy lending for lower-credit borrowers and launch an inclusive finance task force. Banks warn expanded lending could raise delinquency risks, increase provisions and add to losses tied to policy finance programmes.
