KakaoBank posts record cumulative earnings on robust fee-based services, platform business

KakaoBank posts record cumulative earnings on robust fee-based services, platform business

KakaoBank, the nation’s largest internet-only lender, recorded its highest-ever cumulative earnings, with net profit surpassing 370 billion won ($256 million) in the first three quarters of this year, the company said Wednesday. Despite a decline in interest income caused by the government’s tighter controls on household lending, the bank offset the impact through growth in fee-based and platform revenues. For the July-September period, the bank…