South Korea

The Taiwanese digital service also plans to include two-way ATM withdrawal capabilities.

The mobile-only bank targets to modernise its data management system.

Penalty surcharges and boosting early detection systems are amongst the solutions.

Delinquency rate of household loans also fell to 0.31% in March.

The volume of resolved loans rose during the month.

The net income of KRW84.9b for Jan-March 2023 is 112% higher than a year ago.

This was subsequent to its the messaging app’s recent cyber disruption.

Corporates borrowed money for dividend payments, the Bank of Korea said.

It reduces companies’ exposure to exchange rate risks.

Increased demand for cross-border transactions of securities drove the growth.

Net profits totalled ₩1.50t in the January to March period.

The bank’s dividend payouts will remain at current levels of 40% to 50%, Moody’s reported.

Credit bureaus will be supervised under this new verification system.

The payment system will cater toward foreigners residing in South Korea.

The neobank now has 8.49 million customers.

Transferable deposits rose by KRW21.4t during the month.