Korea

The country’s credit card issuers are seeing a rise in credit card use for online purchases.

Four regional banks are particularly at risk of asset-quality deterioration.

More than half of Korea’s 1,600 bank branches no longer accept cash deposits or withdrawals.

Asset quality remains stable.

Fintech companies will stay focused on money transfers and other simple transaction services.

They stand to benefit from expansions and from the low-rate policy environment.

In the first half of the year ended June 31, kakaobank hauled net income of KRW10b ($8.58m), booking net profit for the first time following a protracted loss-making period.

By 2020, cards will emerge as the dominant payment instrument.

Internet-only banks drove robust adoption.

The number of transactions broke the 100-million mark for the first time.

The two players only account for 0.6% of the loan market in Q1.

It offers evaluation of personal loans without having to submit hard copy of documents.

It will allow individuals to store key personal information needed for online transactions.

Rejected applicants Toss Bank and Kiwoom Securities are welcome to re-apply.

ROAA is still relatively low at -0.9% in December 2018.

The number fell from as high as over 7,500 in 2014.