Toss Bank, the internet-only banking arm of fintech firm Viva Republica, said Wednesday it has appointed Rhee Eun-mi, former chief financial officer of DGB Daegu Bank, as its new CEO. The bank’s CEO recommendation committee picked Rhee as the sole candidate for the next top leadership position in recognition of her deep understanding of the banking industry and excellence in making strategic decisions. “R.
Toss Bank has nominated Rhee Eun-mi, former CFO of DGB Daegu Bank, as the sole candidate for its next CEO for a two-year term, the internet-only bank said Wednesday.
The delinquency rates on loans granted by internet-only banks to low-credit, self-employed borrowers are climbing. This is a red flag for the IT-oriented lenders which were established to guarantee access to more affordable financing for customers with weak financial profiles, market watchers said Monday.
Viva Republica, the operator of financial technology app Toss, has kicked off procedures for an initial public offering, having selected lead underwriters. Securities firms estimate that the company's valuation could reach up to 20 trillion won ($15.1 billion). Viva Republica selected crosstown rivals in the local IPO market Korea Investment & Securities and Mirae Asset Securities as the lead underwrit.