Seoul: Leading online lender Kakao Bank announced on Wednesday that it achieved record earnings in the first nine months of the year, primarily due to an increase in non-interest income.

According to Yonhap News Agency, Kakao Bank's net profit for the January-September period rose 5.5 percent from the previous year, reaching a record high of 375 billion won (US$259 million), as reported in a regulatory filing. The bank's operating profit also saw an increase, climbing 2.52 percent on-year to 504 billion won. Revenue grew by 5.86 percent, amounting to 2.32 trillion won over the cited period.

The company credited its impressive financial performance to a significant rise in non-interest income, which surged 26.7 percent on-year, reaching 835 billion won. However, the bank's interest income experienced a decline of 3.1 percent, totaling 1.49 trillion won, amid the ongoing monetary easing cycle.

As of the end of September, Kakao Bank's customer base stood at 26.24 million, with its monthly active users reaching 19.97 million. Despite the strong performance over the nine-month period, the bank's net profit for the third quarter alone decreased by 10.2 percent on-year, amounting to 111 billion won.