Toss Bank, the internet-only banking arm of fintech firm Viva Republica, said Wednesday it has appointed Rhee Eun-mi, former chief financial officer of DGB Daegu Bank, as its new CEO.

The bank’s CEO recommendation committee picked Rhee as the sole candidate for the next top leadership position in recognition of her deep understanding of the banking industry and excellence in making strategic decisions.

“Rhee's achievements, organizational management capabilities, and insight based on her extensive expertise and experience both domestically and internationally are considered the optimal leadership qualifications to spearhead Toss Bank,” the lender said in a statement.

If approved at the group's general board meeting on March 28, Rhee will take the two-year CEO post until March 2026.

She will replace Hong Min-taek, the company's first CEO, who decided not to seek reappointment upon completion of his terms next month.

Rhee served as CFO and managing director at DGB Daegu Bank, a regional lender based in Daegu, and demonstrated decision-making ability based on risk management.

Last year, she played a leading role in transforming the regional bank into a nationwide commercial bank.

Toss Bank expected that Rhee's deep understanding of global finance and the economy would help the firm generate stable growth in uncertain domestic and international market conditions.

Launched in 2021, Toss Bank recorded its first quarterly net profit in the third quarter of last year.

Before joining DGB Daegu Bank, she served as the Asia-Pacific regional head of finance, commercial banking of HSBC, vice president of HSBC Seoul branch, and CFO of Deutsche Bank's Seoul branch.

Rhee was highly valued for her managerial perspectives, knowledge and skills based on her educational background in business administration, accounting, financial analysis, and risk management.

After majoring computer science in Seoul-based Sogang University, she received Master of Business Administration degrees from Columbia Business School, London Business School, and Hong Kong University. She is a certified accountant with a license from the American Institute of Certified Public Accountants and a Chartered Financial Analyst certification holder.