K-Bank, located in Jung-gu, Seoul, has announced on the 8th that it will postpone its ongoing initial public offering (IPO) to ensure its corporate value is properly assessed. The decision stems from the challenges of receiving an accurate evaluation of its corporate value due to poor market conditions influenced by increasing internal and external uncertainties. This marks the second postponement of K-Bank’s IPO, following a similar situation in 2023.
Last August, K-Bank passed the preliminary review for listing and was initially planning to proceed with the IPO. However, due to insufficient demand, it was deferred to this year and has now been postponed again. A representative from K-Bank stated, “We will focus on continuous growth and improving profitability and will expedite the relaunch of our IPO when market conditions improve.” They also clarified that there will be no disruption to operations due to the IPO delay, as evidenced by the rise in their BIS (Bank for International Settlements) total capital ratio for three consecutive quarters after the end of 2023 (13.18%).
As of the end of December last year, K-Bank had 12.74 million customers, an increase of approximately 3.2 million over the year. Their net income up until the third quarter of last year was 122.4 billion won, surpassing the record high of 83.6 billion won achieved in 2022.