Toss Bank CEO eyes second term after profit turnaround

Toss Bank CEO Lee Eun-mi is set to extend her leadership after the bank’s executive nomination committee recommended her for reappointment.

The online-only lender, operated by fintech unicorn Toss, said Tuesday that the committee had completed its review process and selected Lee as the sole candidate for chief executive.

Since launching the succession process in January, the committee evaluated candidates capable of sustaining growth while ensuring organizational stability. At its final meeting Friday, it finalized Lee as the sole nominee.

The committee cited Lee’s management performance during her first term, highlighting progress across four key pillars — growth, profitability, sustainability and soundness — as decisive factors.

“Lee’s strength lies in her strategic vision to expand the bank’s business scope into areas such as wealth management, foreign exchange and corporate finance,” the committee chair said.

Lee, who took office in March 2024 as Toss Bank’s second CEO, led the lender to its first annual profit that year. The momentum continued into the following year, with the bank on track to post record earnings based on preliminary results.

Through the third quarter, cumulative net income reached 81.4 billion won ($55.6 million), nearly double the 45.7 billion won recorded in 2024. Profitability and stability indicators also improved. The bank's net interest margin rose 0.07 percentage point, while asset-quality metrics — including the loan-loss reserve ratio and nonperforming loan ratio — strengthened. Its BIS capital ratio climbed to 15.44 percent as of the third quarter.

In a second term, Lee is expected to focus on strengthening customer protection and internal controls, areas where the relatively young internet-only bank still faces improvement challenges.

Her reappointment will be finalized at a shareholders meeting and board meeting scheduled for March 31, when the board will also determine the length of her new term.