(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] Toss Bank is set to undergo its first full-scale management evaluation as early as late October, according to financial authorities on the 20th. Although the timeline may slightly shift due to inspections of Woori Financial Group and Woori Bank, the Financial Supervisory Service (FSS) plans to proceed as scheduled.

The upcoming evaluation will focus on Toss Bank's capital adequacy, asset soundness, and internal controls for non-face-to-face financial transactions. This marks the first time the bank will undergo such scrutiny since its launch, with peers like Kakao Bank and K Bank having already faced fines ranging from tens of millions to billions of KRW during similar evaluations.

Toss Bank had been exempt from regular inspections for its first three years to allow for stable market entry. As it reaches its third anniversary in October, it will now face its first comprehensive assessment.

 

 

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