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[Alpha Biz=(Chicago) Reporter Paul Lee] Daishin Securities maintained its target price of Kakao Bank at 36,000 won and investment opinion at 'buy' on the 3rd.
"The government announced a new plan to supply loans to mid- and low-credit borrowers on the 27th of last month and maintained the existing 30% share, but changed the standard from the balance (the last balance of the standard month) to the average balance (average balance)," Daishin Securities said. "For Kakao Bank, which achieved its existing goal, the burden on the new policy is much more relaxed."
"The delinquency rate of credit loans for mid- and low-credit borrowers stood at 1.76% as of the end of November last year, the lowest among the three Internet banks," Daishin Securities added. Kakao Bank, like other Internet banks except K-Bank, met 30% of the balance of mid- and low-credit loans set by financial authorities.
Daishin Securities also predicted that Kakao Bank will have the highest share in the government-led housing and jeonse mortgage repayment platform, which will be released this month.
"Kakao Bank's credit growth guidance is also growing smoothly to 35% last year," Daishin Securities said. "We are assuming that the credit growth rate of 17% is somewhat conservative this year, but it is expected to far exceed this forecast with the launch of the platform."
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
