Kakao Bank said Sunday it has received the highest AAA rating in Morgan Stanley Capital International’s ESG evaluation, marking a steady rise from its initial BB grade in 2021.
MSCI, a leading global rating agency, annually evaluates around 8,500 listed companies worldwide on environmental, social and governance criteria, assigning grades from the lowest CCC to the highest AAA. Kakao Bank is the only domestic internet-only lender to have received an MSCI ESG rating, rising from AA in February to AAA just eight months later.
The bank was recognized for its strong privacy policy, consumer protection and governance structure. It has maintained key information security certifications, including ISO 27001 and ISMS-P, and earned the top S grade in the Financial Services Commission’s security evaluation for five consecutive years.
Kakao Bank has also built an independent consumer protection system, operating dedicated teams for consumer policy, fraud prevention and data security, while providing financial education for vulnerable groups. This year, the bank has offered financial fraud prevention programs to over 6,000 people, ranging from children and adolescents to young adults and seniors.
“We were able to achieve the top rating through our continuous efforts to strengthen our sustainable management system,” the bank said, pledging to further enhance its ESG practices in line with global standards.
andreahaneu@heraldcorp.com
