[Provided by Kakao Bank]
[Provided by Kakao Bank]

Kakao Bank said Friday that 12 of its executives had purchased 21,100 shares of company stock as part of a commitment to accountable management.

According to the Financial Supervisory Service's DART system, the 12 executives bought a combined 21,100 shares on the open market between June and Wednesday. The total purchase came to 464.83 million won ($329,000).

The share purchases reflect the executives' confidence in Kakao Bank's medium- to long-term growth prospects and their commitment to responsible management.

Kakao Bank has been diversifying its business to strengthen its foundation for sustainable growth. In June, the bank signed a share purchase agreement to acquire a 100 percent stake in Masten Capital, marking its entry into non-banking credit. It is also expanding its global footprint through partnerships with Indonesia's Superbank, a Thai virtual bank and Mongolia's MCS Group.

Building on these efforts, the bank aims to reach 100 trillion won in assets by 2027 and a return on equity of 15 percent by 2030. It plans to diversify its portfolio across lending, fee and platform services, and fund management to achieve balanced growth in both interest and non-interest income.

"This buyback reflects our executives' confidence in the company's future growth potential and corporate value," Kakao Bank said. "We will continue to pursue sustained innovation and stable growth to enhance both corporate and shareholder value."

Meanwhile, Kakao Bank posted a net profit of 328 billion won in the first half of this year, a record high on a half-year basis. The result came as the bank expanded lending — centered on loans to sole proprietors — even amid tightened household loan management, while growing its platform businesses in loan comparison, payment services and investment.


won@heraldcorp.com