K bank will launch a new checking account service early next month, normalizing the internet-based bank’s business operation, the lender said Tuesday.

This is the first time in a year that the internet-only bank has come up with a new product for customers.

The bank said it will stop registering customers for its existing “Dual K Checking Account” in early July and introduce the new, upgraded checking account service

Market watchers see the move as an indication that the bank is seeking to normalize its operations as a capital increase issue has recently been cleared up. BC Card, a subsidiary of KT which owns a 10 percent stake in K bank, decided to buy the KT shares and raise its stake in the lender to 34 percent by purchasing new shares issued by the bank.

K bank is the nation’s very first internet-only bank that began operation in April 2017. But it has suffered from a lack of capital since last year.

It initially hoped to receive a capital injection from the mobile carrier KT, which looked to become the bank’s largest shareholder.

But the plan hit a snag after the nation’s financial authority halted a review of KT’s plan early last year on the grounds of an ongoing antitrust inspection into the mobile carrier. As a result, the bank had to stop giving loans in April last year, due to the failed increase.