Kbank, which posted its largest performance ever last year, is again pursuing an initial public offering (IPO). This comes just two months after it announced the withdrawal of its listing this year.
Kbank held a board meeting on the 12th and approved the agenda for pursuing the IPO.
This marks Kbank's third attempt to go public. After delaying its IPO in February 2023 due to a decline in investor sentiment, Kbank passed the preliminary review for listing again last August and aimed to reattempt the IPO by the end of October. However, it withdrew its IPO again in January of this year, citing weak demand forecasts.
The decision to attempt a third IPO is interpreted as reflecting the recent recovery in the IPO market atmosphere and the expectation that it can receive proper recognition of its corporate value, following last year's record performance.
Kbank recorded a net profit of 128.1 billion won last year. This amount is ten times larger compared to the previous year (12.8 billion won), surpassing the previous record of 83.6 billion won in 2022. Last year alone, 3.21 million new customers were added, bringing the total customer count to 12.74 million by the end of the year.