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[Alpha Biz=(Chicago) Reporter Kim Jisun] According to the market information company FN Guide on the 12th, Kakao Bank is expected to earn 85.1 billion won in net profit in the third quarter. The figure is up 8.1 percent from a year earlier, but is expected to be below the market consensus (estimated) of 3 percent. The third quarter results will be announced later this month.
Kakao Bank posted a net profit of 82 billion won in the second quarter and 183.8 billion won in the first half of the year, the highest ever on a semi-annual basis.
Loan growth is expected to be good in the third quarter. According to the industry, Kakao Bank's loan growth rate in the third quarter is estimated to exceed 9% this year, mainly for mortgage loans and loan-to-value loans.
Appropriations are a concern not only for Kakao Bank but also for Internet banks as a whole. Allowances for bad debts shall be calculated as losses when the performance is settled with reserves accumulated to prepare for losses. According to each company, the three companies, Kakao Bank, K-Bank, and Toss Bank, set aside 392.4 billion won in loan-loss reserves this year, up 92.3% (188.3 billion won) from a year earlier. Kakao Bank's appropriation fund increased by 36.8% to 117.1 billion won.
In particular, the government should meet the mid- to low-credit loan targets required by Internet banks. As of the end of August, Kakao Bank's mid- to low-credit ratio was 28.4%, which is below the target (30%). In addition, as of the end of August, Kakao Bank's mid- to low-credit delinquency rate was 1.68%, up 0.45% point from the beginning of the year.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
