Tossbank's Remarkable Expansion: 6 Million Customers and Imminent Profitability in Record Time

Tossbank has experienced exceptional growth, attracting more than 6 million customers in 18 months since its launch.

Despite external challenges, the digital bank has shown remarkable stability, with KRW 9.3 trillion in loans and KRW 23.2 trillion in revenue.

Tossbank is now on track to break even in the second half of 2023.

Tossbank’s loan book has nearly quadrupled to KRW 9.3 trillion in one year, and profitability has improved significantly.

The loan-to-value ratio has risen to 44%, four times higher than the 12.4% recorded in the same period last year.

Tossbank’s accelerated growth has enabled it to reach BEP ahead of schedule, as most new banks take three to four years to break even.

Tossbank raised KRW 1.65 trillion in capital to support its loan growth through a series of rights issues.

In addition, the bank’s Liquidity Coverage Ratio (LCR) stands at 833.5%, with liquid assets of KRW 14.5 trillion.

This impressive liquidity and a Net Stable Funding Ratio (NSFR) of 208% demonstrate Tossbank’s readiness to provide liquidity in any situation.

The bank’s innovative, customer-centric services have been instrumental in attracting customers of all ages.

With a new customer every seven seconds, Tossbank is committed to providing products and services that prioritize the financial sovereignty of its customers.

Over the weekend, however, some have raised concerns about TossBank’s financial health.

“This is a common problem for digital banks that have pursued a mid-range interest rate policy in a period of rising interest rates,” said one industry insider.