Insight - Numbers vs stories: Valuing banks in the new economy

Kakao Bank, the first purely digital bank with assets that reached US$25bil (RM104bil) in as little as four years, conducted a successful initial public offering (IPO) in early August. Kakao Bank’s capitalisation value now sits at US$28bil (RM116bil) to overtake KB Financial Group Inc, a conventional financial group with a capitalisation value of US$19bil (RM79bil).

THIS year, market participants all over the world witnessed a fascinating phenomenon in the South Korean banking sector.

Kakao Bank, the first purely digital bank with assets that reached US$25bil (RM104bil) in as little as four years, conducted a successful initial public offering (IPO) in early August. Kakao Bank’s capitalisation value now sits at US$28bil (RM116bil) to overtake KB Financial Group Inc, a conventional financial group with a capitalisation value of US$19bil (RM79bil).