(Kakao bank. Photo = Kakao bank)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] Shinhan Investment & Securities raised its target price of Kakao Bank to 33,000 won and its investment opinion to 'buy'. Profit diversification and preparation for new services were positively evaluated.

"Kakao Bank's expected net profit in the first quarter is expected to reach 115.3 billion won, up 13.2 percent year-on-year, below the consensus of 4.6 percent," said Shinhan Investment & Securities Co. "Kakao Bank will continue its differentiated loan growth trend by implementing an aggressive interest rate policy."

Kakao Bank received little attention from investors shortly after expectations for corporate value-up programs were reflected in the stock market. This is because loan growth-oriented management strategies and relatively high valuations were cited as weaknesses instead of shareholder returns.

It is predicted that the recent trend of profit-taking on existing bank shares could serve as a benefit to Kakao Bank.

 

 

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