Total assets Kakao Bank 2016-2022
In 2022, the value of assets held by Kakao Bank amounted to roughly 39.5 trillion South Korean won, up from around 36 trillion won in the previous year. Founded in January 2016 as one of the first internet-only banks in South Korea, Kakao Bank attracted over 10 million customers within just two years after starting operations in July 2017. The rapidly increasing user numbers of Kakao Bank, especially of its mobile banking app in recent years, are due in part to the growing internet and mobile banking users in South Korea, especially after the outbreak of coronavirus (COVID-19) in 2020.
