KB Kookmin Bank to Supply 1.53 Trillion Won in Private Mid-Rate Loans This Year

Supplied 306.8 Billion Won in the First Quarter
Largest Among Banks

KB Kookmin Bank announced on May 4 that it will supply 1.53 trillion won worth of private mid-rate loans this year.

On the 8th, KB Kookmin Bank in Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@

Private mid-rate loans refer to unsecured credit loans provided at a certain interest rate or lower to customers who fall within the bottom 50% of personal credit scores.

KB Kookmin Bank explained that it supplied 306.8 billion won in private mid-rate loans in the first quarter of this year alone, accounting for about half (approximately 48%) of the total supply by the four major commercial banks.

The bank plans to continue to expand financial services for customers with mid- to low-credit scores by introducing dedicated credit evaluation models and launching refinancing products.

KB Kookmin Bank previously introduced a specialized credit evaluation model for low-credit customers by actively utilizing alternative data, taking into account the characteristics of “thin file” customers such as young people and those with little financial history or mid- to low-credit scores.

The bank has also broadened its support by subdividing credit ratings for customers with mid-level credit scores and granting additional credit limits during household loan reviews.

In addition, the bank plans to launch a “Youth-Exclusive Sae-Hope-Holic” product, which will provide funds of up to 5 million won to young people aged 34 or younger.

A bank official said, “We will do our best to serve as a strong catalyst to further promote inclusive finance throughout the entire financial sector.”

This content was produced with the assistance of AI translation services.