KakaoBank posted record results again last year.

KakaoBank said on Tuesday its annual operating profit rose 7.0 percent from a year earlier to 649.4 billion won, while net profit increased 9.1 percent to 480.3 billion won.

Despite a decline in loan interest income, expanding non-interest income drove growth in overall operating revenue. The company explained that it improved its earnings structure by expanding lending based on its deposit base and diversifying revenue sources, including fee and platform businesses and treasury operations.

Non-interest income excluding lending interest income rose 22.4 percent from a year earlier to 1.09 trillion won last year.

On an annual basis, non-interest income exceeded 1 trillion won for the first time, and its share of total operating revenue of 3.09 trillion won also topped 35 percent.

Annual fee and platform revenue rose 2.9 percent from a year earlier to 310.5 billion won, supported by growth in loan and investment platforms and the advertising business.

Through the Loan Comparison Service on the KakaoBank app, which allows users to compare unsecured credit loans and home-backed loans from other financial firms, the amount of loans executed by partner financial firms reached 5 trillion won last year, up about 50 percent from a year earlier.

Investment products also expanded. The parking-type investment product MMF Box exceeded 1.1 trillion won in balance within six months of launch, and new products such as target-switching funds were added.

Expansion of fee-based businesses such as the advertising business, joint lending, payments and settlement, travel services and surveys also contributed to the rise in non-interest income. Profit and loss from treasury operations came to 670.8 billion won last year.

Treasury income last year was tallied at 670.8 billion won.

Outstanding loans to sole proprietors stood at 3.06 trillion won at the end of last year, up 1.2 trillion won, or 61.3 percent. The share of outstanding mid- to low-credit loans was tallied at 32.1 percent.

The delinquency ratio in the fourth quarter was 0.51 percent, a slight improvement from 0.52 percent a year earlier.