[Alpha Biz= Reporter Kim Sangjin] Toss Bank achieved its third consecutive quarter of profitability.

The bank announced on the 31st that it recorded a net profit of 148 billion won in the first quarter of this year, a significant improvement compared to the net loss of 28 billion won in the same period last year.

The size of the profit in the first quarter, compared to the profit in the third quarter of last year (86 billion won), nearly doubled. With its continuous profitability over the past three quarters, the possibility of achieving annual profitability this year has also increased significantly.

As of the end of the first quarter of this year, the number of customers reached 9.86 million, an increase of about 1.6 times compared to the same period last year (6.07 million). It maintained rapid growth, adding around 1 million customers compared to the end of last year when it had 8.88 million customers. In April of this year, it achieved 10 million customers, demonstrating its strength as a latecomer in the market.

As of the first quarter of this year, the loan balance was 13.85 trillion won, and the deposit balance was 28.32 trillion won, an increase of 1.5 times and 1.3 times, respectively, compared to the same period last year (9.3 trillion won and 22 trillion won). With balanced growth in loans and deposits, the provision coverage ratio increased by about 12 percentage points compared to the same period last year, reaching 56.42%.

As of the first quarter of this year, Toss Bank's capital adequacy ratio (BIS) was 14.87%, an increase of 2.11 percentage points compared to the previous quarter's 12.76%. With the continued growth of low-risk-weighted assets such as rental deposits and the removal of factors leading to a decrease in capital due to the turnaround to profitability, the bank secured sustainable growth potential under stable capital adequacy.

 

 

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