KB Financial Group, Inc.

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See more articles on KB Financial Group, Inc.

Company Background

KB Financial Group is a major player in South Korea's financial services sector. The holding company presides over KB Kookmin Bank, KB Kookmin Card, KB Investment & Securities and KB Life Insurance. As of the end of December 2014, the consolidated total assets of KB Financial Group ranked alongside those of South Korea's top financial holding companies.

KB Kookmin Bank was formed over time through the merger of a number of other major South Korean financial institutions, especially in 1998 and 2001. It shifted to the financial holding company system in 2008. In terms of assets, KB Financial Group ranks alongside the holding companies of other major institutions such as Shinhan Financial Group and Hana Financial Group. The group was the latest in reorganizing itself into a holding company structure.

KB Financial Group has operations in Japan, the U.S. and Britain as well as in China, India and Southeast Asian nations such as Vietnam. It is expanding its overseas network as corporate clients set up shop abroad. It aims to further broaden overseas operations as it lags behind Hana and other rivals in this regard.

As the South Korean economy remains weak, the Bank of Korea, the central bank, has brought down its benchmark interest rate to a record low of 1.5%. Against this backdrop, KB Financial is faced with the need to create a new earnings model in the business environment, in which new payment settlement systems based on fintech and other information technologies, for example, are expected to catch on.

Business Summary

KB Financial Group, Inc. engages in providing financial services through its subsidiaries. It operates through the following segments: Corporate Banking, Retail Banking, Other Banking Services, Credit Card, Life Insurance, Investment and Securities business. The Corporate Banking business segment provides services such as loans, overdrafts, deposits, credit facilities and other foreign currency activities. The Retail Banking business segment offers services such as private customer current accounts, savings, deposits, consumer loans and mortgage loans. The Other Banking business segment provides services relating to banking business besides corporate banking and retail banking services. The Credit Card business segment offers services such as domestic as well as overseas credit and debit card operations. The Investment and Securities business segment provides services such as investment banking and brokerage. The Life Insurance business segment provides products such as life insurance and wealth management. The company was founded on September 29, 2008 and is headquartered in Seoul, South Korea.

Financial Highlights

Dec 2021	KRW	USD
Revenue	38,791.48B	33,874.31M
Gross Profit	--	--
Operating income	6,132.40B	5,355.06M
Income before tax	6,050.12B	5,283.22M
Net income	4,338.00B	3,788.12M
EBITDA	--	--
Diluted EPS	10,889.55	9.50
Dividends Per Share	2,940	2.56
Total Assets	666,146.91B	560,375.96M
Total liabilities	620,691.21B	522,137.73M
Total equity	44,622.36B	37,537.21M
Operating cash flow	8,322.87B	7,267.87M
	Currency in KRW	Currency in USD

Historical Data

KRW | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	25,682.57B	30,376.07B	32,422.12B	35,707.92B	38,791.48B
Gross Profit	--	--	--	--	--
Operating income	4,095.44B	4,348.89B	4,576.36B	4,747.40B	6,132.40B
Income before tax	4,138.42B	4,301.53B	4,517.53B	4,848.49B	6,050.12B
Net income	3,311.43B	3,061.19B	3,305.31B	3,445.58B	4,338.00B
EBITDA	--	--	--	--	--
Diluted EPS	8,257	7,676	8,388.65	8,730.36	10,889.55
Dividends Per Share	1,920	1,920	2,210	1,770	2,940
Total Assets	438,106.98B	481,146.47B	520,249.70B	613,133.16B	666,146.91B
Total liabilities	404,062.15B	445,433.44B	481,529.58B	571,426.80B	620,691.21B
Total equity	34,038.68B	35,703.91B	38,134.71B	40,848.58B	44,622.36B
Operating cash flow	3,014.12B	10,033.18B	4,146.19B	-699,500M	8,322.87B

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	22,717.68M	27,601.61M	27,801.89M	30,263.83M	33,874.31M
Gross Profit	--	--	--	--	--
Operating income	3,622.65M	3,951.67M	3,924.22M	4,023.60M	5,355.06M
Income before tax	3,660.66M	3,908.64M	3,873.77M	4,109.28M	5,283.22M
Net income	2,929.15M	2,781.59M	2,834.29M	2,920.26M	3,788.12M
EBITDA	--	--	--	--	--
Diluted EPS	7.30	6.97	7.19	7.39	9.50
Dividends Per Share	1.69	1.74	1.89	1.50	2.56
Total Assets	409,235.40M	431,212.10M	449,867.88M	564,423.39M	560,375.96M
Total liabilities	377,434.15M	399,205.44M	416,386.00M	526,030.34M	522,137.73M
Total equity	31,795.51M	31,998.49M	32,975.67M	37,603.40M	37,537.21M
Operating cash flow	2,666.16M	9,116.78M	3,555.34M	-592.85M	7,267.87M

Valuation Measures

Dec 2021
PER	4.94
ROA	0.67%
ROE	10.15%
Operating margin	15.80%
Profit margin	11.18%

Key executives

Chairman & Chief Executive Officer: Jong-Kyoo Yoon
Vice Chairman & Chief Operating Officer: Jong-Hee Yang
Chief Finance Officer & Senior Managing Director: S. Y. Seo
Chief Information Technology Officer: Jin Soo Yoon
Chief Compliance Officer & Managing Director: Hye Ja Suh

Shareholders

National Pension Service of Korea (8.2%)
KB Financial Group, Inc. (5.5%)
BlackRock Fund Advisors (2.5%)
The Vanguard Group, Inc. (2.3%)
Kb Financial Group, Inc. Employee Stock Ownership Association (1.8%)
Norges Bank Investment Management (1.6%)
Hermes Investment Management Ltd. (1.4%)
Fidelity Management & Research Co. LLC (1.3%)
Samsung Asset Management Co., Ltd. (1.0%)
BlackRock Advisors (UK) Ltd. (0.9%)

Contact Details

Website:http://www.kbfng.com
Address: 26 Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul, 07331, South Korea
Phone: +82.2.2073.7114

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Competitors

KakaoBank Corp.
Lotte Non-Life Insurance Co., Ltd
Samsung Securities Co., Ltd.
KT Corporation
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CLIO Cosmetics co., Ltd
Do Day Dream Public Co. Ltd.
IT'S HANBUL CO. LTD.
Natura & Co Holding SA
SK Rent a Car Co., Ltd.

Last Updated on 4 Oct, 2022