[단독] Toss Bank to issue an additional 100 billion won in paid-in capital… 3rd time since launch By Hankyung

Toss Bank. /Photo = Yonhap News

Toss Bank, an internet-only bank, will start a capital increase worth 100 billion won next month. This is the third capital increase in about eight months since its launch in October of last year. Toss Bank, which is aggressively expanding its business, plans to further increase its loan capacity with the capital secured this time.

According to the financial industry on the 29th, Toss Bank will promote a capital increase of 100 billion won for existing shareholders by the end of next month. Upon completion of the capital increase, Toss Bank’s total paid-in capital will increase from 850 billion won to 950 billion won. Capital increase earlier than target for ‘super-fast growth’

Another additional capital increase is being discussed in the second half of the year This is already the third time that Tossbank is going through a capital increase. The bank, which started with a capital of 250 billion won, completed two capital increases, 300 billion won each, at the end of October last year and at the end of February this year, right after its inception. At the time of its inception, Toss Bank had set its goal of increasing additional capital by 1 trillion won over five years and up to 300 billion won each year, but it has already succeeded in increasing additional capital by 700 billion won within a year of its inception.

It was confirmed that Toss Bank is also discussing with shareholders for an additional capital increase in the second half of this year. A high-ranking Toss Bank official said, “Loans are growing at a much faster rate than expected, so we are moving ahead of the schedule for the capital increase, which was initially conservatively envisioned for smooth service.” “The shareholders are also positive.” An office worker is looking at the Toss Bank website. / Reporter Huh Moon-chan

When the capital increase is completed, Toss Bank’s loan capacity will be further expanded. Toss Bank’s loan balance has grown rapidly, more than fivefold in four months, from 531.5 billion won at the end of last year to 2.835.4 trillion won at the end of April this year. Following the resumption of credit loans that were blocked due to the total amount of household loans last year, the unsecured and unsecured personal business loans, which were launched for the first time in February this year, were also successful, with the balance exceeding 400 billion won in three months. Loan expansion and profitability enhancement goal

As if all existing shareholders will participate, Toss Bank is putting more drive on loan business to raise profitability. Although it succeeded in raising more than 17 trillion won in deposits in a short period of time with a receiving strategy that gives 2% interest per year to frequent deposits, the cost of interest on deposits is greater than the profit earned from loans. Last year, the bank recorded 31.2 billion won in interest income and 42.4 billion won in interest expenses, resulting in a net interest loss of 11.2 billion won.

Tossbank plans to further expand its loan product lineup, including non-face-to-face Jeonse loan to be released in the second half of this year. Preemptive capital expansion is also for this purpose. An official from the banking sector said, “As the amount of jeonse loans is large, the rate of loan growth will accelerate in the future.” Kim Jae-woo, a researcher at Samsung Securities, said, “Currently, Toss Bank’s loanable amount is estimated to be about 7.4 trillion won, which is 10 times its total capital (estimated 742.4 billion won). and analyzed.

Existing shareholders of Toss Bank are expected to participate in this capital increase without exception. A shareholder official said, “We have been continuously discussing additional capital increase in the first and second half of this year. Existing shareholders will participate in order to keep their stake.”

The largest shareholder of Toss Bank is Viva Republica (34.91%), the operator of Toss. Next, Hana Bank, Hanwha Investment & Securities, and E-Land World each with 10%, Korea Federation of Small and Medium Businesses with 9.99%, SC First Bank with 7.91%, Altos Ventures with 5.33%, Goodwater Capital with 3.61%, Welcome Savings Bank with 3.24%, Korea Electronic authentication holds a 2.59% stake, Welcome Capital holds 1.76%, and Libit Capital holds a 0.66% stake.

Reporter Bin Nan-sae binthere@hankyung.com

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