토스 사장님대출KOSDAQ
[Eun-kyung Park, iNews24] Toss Bank’s ‘CEO loan’ has emerged as a detonator for bad debts. The bad debt ratio has increased more than fourfold in one year. Ultimately, bad debt expenses have increased significantly. On the other hand, the bad debt response capability was lower than that of competing banks.
According to the management disclosure on the 7th, Toss Bank’s corporate loan bad debt (fixed-rate loans, NPL) balance in the first quarter was 45.7 billion won, an increase of 35.8 billion won year-on-year. During the same period, Kakao Bank’s corporate loan bad debt was 4.4 billion won, the same as the same period last year. K Bank also increased only 4.1 billion won to 5.2 billion won. It is up to 10 times more than that of competing banks.
Toss Bank’s corporate loan bad debt ratio also increased by 2.12 percentage points (p) year-on-year to 2.69%. It has expanded more than fourfold in one year. During the same period, Kakao Bank’s corporate loan bad debt ratio was 0.38%, while K Bank’s was 0.50%.
On the other hand, the bad debt reserve ratio was 206.35%, down 63.04%p year-on-year. It is lower than Kakao Bank (228.64%) and K Bank (236.82%). Bad debt write-off expenses also increased by 34.02% (39.2 billion won) year-on-year to 115.2 billion won. This is twice the bad debt expenses of Kakao Bank and K Bank.
Toss Bank disposed of (sold) a significant amount of bad debt, but it did not meet expectations. Toss Bank sold 34 billion won worth of bonds in the first quarter. This is ten times the cost of selling (3.4 billion won) K Bank.
The high bad debt ratio of Toss Bank’s business loans is interpreted as the result of the inflow of individual business owners with relatively low credit ratings. The highest borrower rating for Toss Bank’s corporate loans is Grade 5. The largest borrowers of corporate loans from Kakao Bank and K Bank are grades 1 to 3.
For this reason, Toss Bank is reducing its loans to CEOs. The balance of loans to CEOs decreased by 36.4 billion won in the first quarter. Last year, it aggressively increased personal business loans, handling 440.4 billion won, but as bad debts increased rapidly, it entered management.
The problem is that the credit ratings of borrowers are generally low, making it difficult to easily catch the delinquency rate. Toss Bank’s new (1-month) corporate loan delinquency rate was 3.07%, up 2.21%p from the same period last year.
A bank official said, “Personal business loans are risky because there are many people with medium and low credit, and there are limits to sophisticated credit evaluations,” adding, “Toss Bank will have to think more deeply about loans to CEOs, especially with the recent economic downturn.” A Toss Bank official said, “The proportion of personal business loans among all loans is not large, and since there are many loans with guarantees, not all of them will be transferred to losses,” adding, “We are preparing for an uncertain economy by improving our own credit rating model and review strategy and strengthening our guaranteed loan line.”
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