Major digital banks South Korea 2023, by loans and deposits
In the third quarter of 2023, Kakao Bank had approximately 45.7 trillion South Korean won in deposits, while Toss Bank had about 22.7 trillion won. The introduction of internet-only banks has significantly influenced South Korea's development towards digital banking. K Bank and Kakao Bank were established in 2017, and Toss Bank was launched in 2021.