KIS rates Kbank 'Neutral,' sees potential in crypto expansion

Korea Investment & Securities (KIS) has assigned a 'Neutral' investment rating to Kbank, which recently listed on the KOSPI after its third attempt, Bridge Economy reported on March 6. In its report, KIS noted that Kbank's short-term growth momentum could be limited by the regulatory environment and intensifying competition in the lending market. However, the firm suggested that the bank's corporate value could be reassessed depending on its expansion into the virtual asset sector and the establishment of related regulations. Baek Doo-san, a researcher at KIS, explained that if a basic act on digital assets and policies promoting the stablecoin industry are implemented swiftly, a multiple re-rating for Kbank would be possible despite its overhang risk. In such a scenario, he added, a re-evaluation could be based on the price-to-book ratios (PBR) of its competitors.