South Korea’s oldest online-only lender K bank said Monday it has resumed its consumer loan business through its mobile apps.

The new loan products will be offered either in the form of personal loans for consumers with mid- to high-credit scores or overdrafts.

The annual interest rate for borrowers will be 2.08 percent at its lowest. Borrowers’ credit-worthiness will be assessed under K bank’s own credit scoring system that applies machine-learning techniques and big data analysis.

The latest announcement comes 15 months after it suspended its consumer loan business due to a liquidity crisis.

Following a series of delay in plans to increase capital, with major shareholder KT’s prosecutorial scrutiny, its credit card subsidiary BC Card is expected to become the major shareholder by injecting 396.6 billion won ($330.5 million) by July 28.

Korea is currently home to two mobile-only banks: K bank and Kakao Bank, controlled by internet giant Kakao.

By Son Ji-hyoung (consnow@heraldcorp.com)