K-Bank posts loss of W40.5b in H1

By Yonhap
  • Published : Aug 31, 2017 - 16:44
  • Updated : Aug 31, 2017 - 16:44
Internet-only bank K-Bank said Thursday it posted a net loss of 40.5 billion won ($35.9 million) in the first-half of this year, hit by a jump in spending as it launched operations in April.

K-Bank said it attracted deposits worth 643 billion won and made loans worth 600.3 trillion won as of the end of June.

K-Bank, which is led by KT Corp., the nation's biggest fixed-line Internet operator, spent about 90 billion won in setting up infrastructure for its Internet banking system, the lender said in a statement.

With the bank's soaring loans lowering its capital adequacy ratio, K-Bank has decided to raise 100 billion won by issuing 20 million shares. (Yonhap)