SBI Savings Bank

What SBI Savings Bank does

SBI Savings Bank Inc. is a South Korean savings bank institution headquartered in Seoul, operating 20 sales branches across all major South Korean metropolitan areas (Seoul, Gyeonggi, Incheon, Daejeon, Daegu, Gwangju, Jeonju, Pohang). The bank provides retail banking services (deposits, loans, and credit products backed by collateral such as FD-backed cards), SOHO banking services for small office/home office businesses, and corporate finance services through dedicated IB, corporate finance, and real estate finance divisions. Its core products include the Cider Bank digital banking platform serving 1.62 million users, a Saidabank offering, and traditional branch-based retail and corporate banking. The bank's technology stack includes a deployed FIDO2-based biometric authentication system, adopted in response to the South Korea Personal Information Protection Commission's November 2025 interpretation exempting on-device FIDO authentication from PIPA consent requirements.

The company was founded in 1971 as Hyundai Credit Union and underwent multiple name changes (Hyundai Swiss Bank, Hyundai Swiss Savings Bank) before SBI Korea Holdings invested in 2002 and acquired the Gangnam Credit Union. SBI Savings Banks 2, 3, and 4 were merged into a single SBI Savings Bank entity in 2014, and the headquarters relocated to Euljiro in 2015. SBI Savings Bank's revenue model is based on net interest income from deposits and lending, with pricing on loan and deposit rates subject to Korean financial regulation. The bank is currently in transition: in April 2026, SBI Holdings completed a partial sale of its shares to Kyobo Life Insurance for approximately 900 billion won (50%+ stake), reducing SBI Savings Bank from a consolidated subsidiary to an equity method affiliate, while SBI Holdings retains a 70% economic interest. The resulting Kyobo-SBI Savings Bank financial group is projected to hold approximately 160 trillion won in combined total assets and serve nearly 4.6 million digital users. A 7-year unresolved put option dispute with IMM Private Equity and EQT Partners (exercise prices in the 300,000 won range) creates a pricing dilemma for the bank's anticipated IPO.

Name

SBI Savings Bank

Legal name

SBI Savings Bank Inc.

Website

https://eng.sbisb.co.kr

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

51–100 employees

Short description

SBI Savings Bank is a South Korean savings bank operating 20 branches, serving retail, SOHO, and corporate clients with deposits, loans, corporate finance, and the Cider Bank digital platform (1.62 million users). Following SBI Holdings' 2026 partial sale to Kyobo Life Insurance (50%+ stake for ~900 billion won), the bank is part of a 160 trillion won financial group.

Ownership category

akta.pro rank

Product category

Savings Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221)

SIC

Savings Institutions, Not Federally Chartered (6036), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)

Keywords

• Retail banking services
• Savings and deposits
• Corporate finance
• Digital banking platform
• Small business lending

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Distribution channels2 records

Marketing channels3 records

Core offering

SBI Savings Bank is a South Korean savings bank institution that accepts retail and corporate deposits and extends collateral-backed loans, credit card products, and small-business financing. It operates dedicated divisions for retail banking, corporate finance (including investment banking and real estate finance), SOHO business banking, and risk management, complemented by the Cider Bank digital banking platform serving 1.62 million mobile users.

Product overview

SBI Savings Bank operates as a savings bank institution in South Korea, offering a comprehensive suite of financial products and services. The bank provides digital banking through its Cider Bank platform (1.62 million users), corporate finance services (investment banking and real estate finance), retail banking services, and SOHO banking solutions. The bank operates 20 sales branches across Korea including Seoul (11), Gyeonggi (3), Incheon (1), Daejeon (1), Jeonju (1), Gwangju (1), Daegu (1), and Pohang (1). The organization is structured with multiple headquarters divisions including Corporate Finance Headquarters, Retail Business Headquarters, Management & Strategy Headquarters, Credit Management Headquarters, and Finance & Information System Headquarters.

Differentiator

Problem solved

Functional benefit

Products and services

• Cider Bank Digital banking platform and mobile application offered by SBI Savings Bank, providing account management, deposits, loans, and other banking services to 1.62 million users.
• Retail Banking Services Personal banking services including retail marketing, branch-based sales, and retail business operations serving individual customers across 20 branches in South Korea.
• Corporate Finance Services Corporate banking services including investment banking (IB Division), corporate finance teams, and real estate finance divisions serving business clients.
• SOHO Banking Services Banking services tailored for small office/home office businesses, including dedicated sales teams and operational support.
• Savings and Deposit Products Traditional savings bank products including fixed deposits, savings accounts, and credit products backed by collateral such as FD-backed credit cards.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators5 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• K Bank: Korea's first internet-only bank offering mobile deposit and credit products. Competes head-on with Cider Bank in digital retail banking and loan underwriting.
• JB Savings Bank (formerly Jeil Savings Bank): Korean savings bank offering retail deposits, secured loans, and SOHO banking services. Closest peer as a similarly positioned domestic savings bank competing for the same regulatory and customer segment.
• Meritz Savings Bank: Korean savings bank offering retail loans and deposits with growing digital capabilities. Comparable peer within the domestic savings bank competitive set.
• Hana Savings Bank: Subsidiary of Hana Financial Group focused on retail and SOHO lending. Directly comparable in product mix, deposit-taking, and secured consumer lending.
• OK Savings Bank (Hi Savings Bank): Korean savings bank focused on household lending, mortgage, and deposits. Competes for the same retail/SOHO customer base and operates within the same regulatory framework.
• Toss Bank: Viva Republica-affiliated digital bank offering mobile deposit, savings, and personal loan products to a large Korean user base. Direct competitor in the digital retail banking segment.
• Kakao Bank: Korean digital-first bank with tens of millions of users and aggressive deposit/lending offerings. Directly competes with SBI Savings Bank's Cider Bank digital platform for retail deposit and loan customers.

Broad incumbents

• Kyobo Life Insurance: Korean life insurer acquiring a majority stake in SBI Savings Bank to form a financial holding company. Comparable as a major Korean financial-services counterparty shaping SBI Savings Bank's future product mix.
• Woori Bank: One of Korea's largest commercial banks offering retail, SOHO, and corporate banking. Sets the competitive benchmark on scale, product breadth, and digital capabilities that SBI Savings Bank must close the gap to.
• SBI Holdings: Japanese internet-based financial conglomerate and parent of SBI Savings Bank. Relevant as the controlling shareholder ecosystem providing capital, fintech assets, and global scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SBI Savings Bank