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4 stories mentioning KRX:323410Updated 26d ago

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Asia

Market Chatter: KakaoBank Union Pushes for Better Wage Proposal Ahead of Five-Day Strike

KakaoBank's (KRX:323410) labor group has asked management for a better salary bargain ahead of a five-day strike, Yonhap News Agency reported Wednesday.The parties have been discussing a pay increase and other benefits, but a deal has not been reached yet, the report said.The union's strike will run from Aug. 31 to Sept. 4, although the group said it can be prevented with a better wage offer from the management, the report said.Parent company Kakao Corp. (KRX:035720) did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

KRX:035720KRX:323410
KakaoBank's Second-Quarter Net Profit Rises 11.5% on Higher Net Interest Income
US Markets

KakaoBank's Second-Quarter Net Profit Rises 11.5% on Higher Net Interest Income

KakaoBank's (KRX:323410) net profit increased 11.5% to 140.8 billion won in the second quarter, up about 12% from 126.3 billion won in the year-ago period, according to its earnings report released Wednesday.Revenue rose 6.6% to about 829 billion won for the three months through June 30 from more than 778 billion won in the prior-year period.Interest revenue jumped to 690.4 billion won from 604.1 billion won. Net interest income, as a difference of interest revenue and expenses, reached 402.3 billion won during the three months, up 26% from 318.6 billion won a year earlier.Net interest margin came in at 2.13% in the quarter, up from 2% in the prior quarter and 1.92% in the year-ago period.Fee and commission revenue grew to 88.7 billion won from 75.9 billion won. Other operating revenue halved to 49.9 billion won from 98.1 billion won.Total expenses grew to 578.2 billion won during the quarter from 549.8 billion won in the prior-year period.For the first half, net income rose 24% to 328 billion won, up 24% from 263.7 billion won in the prior-year period. Net interest income jumped 21% year over year to 775.7 billion won from 642.0 billion won a year earlier.Total customers in the first half rose by 930,000 to 27.6 million from 26.7 million.

KRX:323410
Asia

KakaoBank's Q2 Net Income Rises 12%

KakaoBank (KRX:323410) posted a 11.5% year-over-year increase in net income to 140.8 billion won from 126.3 billion won for the second quarter, according to a bourse filing on Wednesday.Revenue climbed 6.6% to 829 billion won for the three months ended June 30 from 778 billion won in the same period last year.For the first half, cumulative net income totalled 328 billion won, up 24% year-over-year, while revenue reached 1.648 trillion won, a 5.5% increase.

KRX:323410
Asia

KakaoBank, SCBX Enter JV Agreement to Launch Virtual Bank in Thailand

KakaoBank (KRX:323410) and Thailand's SCB X Public Company (BKK:SCB) signed a joint venture agreement to establish a virtual bank in Thailand, the bank said in a Wednesday release.The virtual bank will offer banking services exclusively via digital platforms without physical branches. KakaoBank will initially acquire a 10% stake in the joint venture and plans to raise it to 24.5%, according to the release.The virtual bank aims to begin operations after completing system development and securing final approval from the Bank of Thailand, the release said.Shares of KakaoBank and SCB X Public Company fell nearly 3% at market close.

BKK:SCBKRX:323410

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