Finance
Korea\'s three internet banks beat Q1 lending targets for mid-to-low credit borrowers
South Korea’s three internet-only banks expanded lending to mid-to-low credit borrowers in the first quarter, exceeding financial authorities’ targets. KakaoBank recorded a 32.3 percent share of outstanding loans and a 45.6 percent share of new lending to such borrowers. K Bank and Toss Bank also surpassed targets. The banks said many borrowers saw credit scores rise within a month of taking loans, supported by upgraded alternative credit scoring models.
