South Korea

Korea Investment & Securities

Kakaobank did not exist four years ago. Now, it is an integral part of Korea’s banking sector. The next big step for the digital dynamo is its $3 billion IPO, slated for late 2021.

Each year, Shinhan Bank finds new layers to add to its already complex corporate and social responsibility offering.

No Korean financial institution is better at serving small and medium-sized enterprises than KB Financial Group.

It seems hard to believe that kakaobank didn’t even exist four years ago. Formed in 2017 with seed capital from a handful of big financial institutions, including KB Kookmin Bank (which owns 9.9% of kakaobank) and Korea Investment Value Asset Management (with 28.6%), it has taken the country by storm.

Citi’s strength in depth means it stands apart from its global peers in Korea. Because it has a large physical presence in the country, it was forced to act quickly in the early months of 2020 when Covid-19 struck and thousands of staff had to work from home.

Korea Investment & Securities is a worthy winner of this award. The Seoul-based financial institution’s investment banking team had a good year, defined by a strong and steady flow punctuated by big-ticket deals.

It no longer suffices to define kakaobank as purely a digital bank. It is hands down Korea’s best digital lender, but it is so much more than just that.