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Naver said Monday that it has no plans to launch an internet-only bank, shutting down rumors that the IT giant might open the country’s third such bank after K bank and Kakao Bank. “Although we have reviewed [joining] the internet-only bank business, we…
K-Bank, the country’s first Internet-only bank, is struggling to raise the capital it needs to expand as profits remain elusive amid increasing costs, sources directly involved with the issue said. “K-Bank recently asked local private equity funds (PEFs) to…
The country’s Financial Services Commission said Sunday it awarded a preliminary license to Kakao for a business to be named Kakao Bank. “An Internet bank is meant to give non-financial players, including IT firms, chances to enter the banking sector if they…
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