Credit Card Business
IBK promotes sustainable growth in the credit card business by expanding the individual member market, accelerating digital transformation, and launching policy products, based on its strengths centered on corporate members.
Growth and Soundness Management of the Credit Card Business
In 2024, IBK achieved a record-high credit card payment of KRW 50 trillion and attracted over 850,000 new members, continuing its growth trajectory. Also, through systematic risk management, the bank maintains a delinquency rate of 3.85%, operating a stable credit card portfolio. IBK will continue to pursue digital innovation and sound management to ensure the sustained growth of its credit card business, further strengthening customer-centric financial services.
Establishment of a Card Brand System and Launch of New Products
IBK has introduced a customized card brand system for retail, corporate, and premium customers, and is continuously launching new products. In the retail credit card (I: Individuals) segment, IBK has introduced specialized products for transportation, pets, eco-friendly consumption, and airline mileage. In the business credit card (B: Business) segment, it has strengthened corporate-tailored services such as company point accumulation and airline mileage support. It also provides specialized benefits for VIP customers through premium cards (K: Korea), thereby expanding its customer base further.
IBK Credit Card
Transformation of the Credit Card Business through Digital Innovation
IBK launched the IBK Card App in December 2024 to accelerate the digitalization of its credit card business and enhance customer convenience. Minors, sole proprietors, and customers without existing transactions can easily sign up on the app, and the bank plans to offer industry-leading point accumulation benefits and customized card services.
Moreover, the card issuance process has been innovated with the introduction of the ONE-STOP LMS Issuance and QR Issuance Service. Customers can easily apply for and instantly receive a card via QR code, regardless of time and place, enabling faster and more convenient card usage. IBK will strengthen its competitiveness in the credit card business through such digital innovations and will continue to expand its differentiated financial services.
Annuity Business
IBK continues to strengthen its competitiveness in the retirement pension market, expand customer-centric pension management services, and improve the profitability of pension products. It strives to maximize customer convenience by accelerating the digital transformation of the annuity business and support SMEs and individual customers in preparing for a stable post-retirement future.
Establishment and Expansion of Retirement Pension Fee Reduction System
IBK has established and expanded the retirement pension fee reduction system to alleviate the financial burden on SMEs and microbusinesses and to support the stable management of retirement pension assets. The system provides differentiated fee reduction benefits to startups, strong SMEs, and social enterprises, promotes the introduction of pensions by SMEs, and assists workers in preparing for a stable post-retirement future.
Benefits for Individual Retirement Pension (IRP) customers have also been enhanced. A new policy has been introduced to reduce fees by up to 0.05%p if the default option's operating profit falls short of the benchmark (the one-year average return of the retirement pension fund). Also, a 50% reduction in the management fees has been implemented for pension-receiving customers. For customers who subscribed to IRP non-face-to-face, the fees are fully waived to minimize customer burden.
IBK Pension Easy: Customer-Centric Digital Pension Management Platform
IBK has introduced the digital pension management platform “IBK Pension Easy” to maximize convenience for retirement pension customers. Customers can view their pension assets in real time on i-ONE Bank and receive customized portfolio recommendations.
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Presenting optimal individual management strategies through AI-based asset allocation design
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Providing a service to subscribe to the latest financial market information
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Introducing the first easy purchase and sale function for pension products in the banking sector, enhancing customer convenience in pension management
With the platform, IBK is accelerating the digitalization of pension asset management, supporting customers to manage their pensions more easily and efficiently.
Enhancing Returns through Strategic Product Supply
IBK has been expanding the supply of high-interest principal and interest-guaranteed products to strengthen competitiveness in returns in the IRP market. As a result of focusing on supplying high-interest products from IBK Securities since the fourth quarter of 2023, it recorded the highest yield on principal and interest-guaranteed products in the banking sector in 2024, further solidifying its position in the retirement pension market. Additionally, the scale of retirement pension accumulation continued to grow, reaching KRW 26.95 trillion by the end of 2024, thereby establishing a stable asset management base.
IBK will continue to strengthen its leadership in the pension market by improving retirement pension yields, expanding support for SMEs and individual customers, and innovating pension management digitally, thereby providing more competitive pension services.
