Form 6-K

6-K 1 d494217d6k.htm FORM 6-K Form 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2013

Commission File Number: 000-53445

KB Financial Group Inc.

(Translation of registrant’s name into English)

9-1, 2-ga, Namdaemoon-ro, Jung-gu, Seoul 100-703, Korea

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨ No x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- N/A.

Restatement of Preliminary Operating Results for Fiscal Year 2012

On February 28, 2013, KB Financial Group Inc. (“KB Financial Group”) disclosed that its preliminary operating results for the fiscal year 2012, which were filed on February 7, 2013, have been restated to reflect the effect of certain events that occurred after the reporting period. The preliminary figures presented herein are based on the Korean International Financial Reporting Standards (“K-IFRS”) and are currently being audited by our independent auditor and are subject to change.

1. Operating results of KB Financial Group (consolidated)

Restated preliminary operating results of KB Financial Group for fiscal year 2012:


(Won in millions, %)		4Q 2012		3Q 2012		% Change Increase (Decrease) (Q to Q)			4Q 2011		% Change Increase (Decrease) (Y to Y)
Operating Revenue*	Specified Quarter		6,007,253		6,296,285		(4.59	)		5,969,498		0.63
Operating Revenue*	Cumulative		25,295,750		19,288,497		—			26,484,343		(4.49	)
Operating Income	Specified Quarter		327,007		536,797		(39.08	)		435,080		(24.84	)
Operating Income	Cumulative		2,411,398		2,084,391		—			3,398,334		(29.04	)
Income before Income Taxes	Specified Quarter		214,185		510,846		(58.07	)		375,944		(43.03	)
Income before Income Taxes	Cumulative		2,261,328		2,047,143		—			3,260,806		(30.65	)
Net Income**	Specified Quarter		142,166		410,103		(65.33	)		219,069		(35.10	)
Net Income**	Cumulative		1,702,913		1,560,747		—			2,373,026		(28.24	)

*	Represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit and loss, and other operating income.

**	Represents profit attributable to equity holders of the parent entity.

Specific line items that have been restated:

-Pre-restatement (as disclosed on February 7, 2013)


(Won in millions, %)		4Q 2012		% Change Increase (Decrease) (Q to Q)			% Change Increase (Decrease) (Y to Y)
Operating Revenue*	Specified Quarter		6,007,860		(4.58	)		0.64
Operating Revenue*	Cumulative		25,296,357		—			(4.49	)
Operating Income	Specified Quarter		421,475		(21.48	)		(3.13	)
Operating Income	Cumulative		2,505,866		—			(26.26	)
Income before Income Taxes	Specified Quarter		308,653		(39.58	)		(17.90	)
Income before Income Taxes	Cumulative		2,355,796		—			(27.75	)
Net Income**	Specified Quarter		213,772		(47.87	)		(2.42	)
Net Income**	Cumulative		1,774,519		—			(25.22	)

*	Represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit and loss, and other operating income.

**	Represents profit attributable to equity holders of the parent entity.

-Post-restatement


(Won in millions, %)		4Q 2012		% Change Increase (Decrease) (Q to Q)			% Change Increase (Decrease) (Y to Y)
Operating Revenue*	Specified Quarter		6,007,253		(4.59	)		0.63
Operating Revenue*	Cumulative		25,295,750		—			(4.49	)
Operating Income	Specified Quarter		327,007		(39.08	)		(24.84	)
Operating Income	Cumulative		2,411,398		—			(29.04	)
Income before Income Taxes	Specified Quarter		214,185		(58.07	)		(43.03	)
Income before Income Taxes	Cumulative		2,261,328		—			(30.65	)
Net Income**	Specified Quarter		142,166		(65.33	)		(35.10	)
Net Income**	Cumulative		1,702,913		—			(28.24	)

*	Represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit and loss, and other operating income.

**	Represents profit attributable to equity holders of the parent entity.

2. Operating results of Kookmin Bank (consolidated)

Restated preliminary operating results of Kookmin Bank for fiscal year 2012:


(Won in millions, %)		4Q 2012		3Q 2012		% Change Increase (Decrease) (Q to Q)			4Q 2011*		% Change Increase (Decrease) (Y to Y)
Operating Revenue**	Specified Quarter		4,778,881		4,850,715		(1.48	)		4,590,232		4.11
Operating Revenue**	Cumulative		19,273,344		14,494,463		—			22,274,350		(13.47	)
Operating Income	Specified Quarter		177,844		406,893		(56.29	)		277,562		(35.93	)
Operating Income	Cumulative		1,920,798		1,742,954		—			2,806,349		(31.56	)
Income before Income Taxes	Specified Quarter		125,603		396,379		(68.31	)		255,459		(50.83	)
Income before Income Taxes	Cumulative		1,850,840		1,725,237		—			2,761,814		(32.98	)
Net Income***	Specified Quarter		86,948		326,253		(73.35	)		129,931		(33.08	)
Net Income***	Cumulative		1,415,773		1,328,825		—			2,046,538		(30.82	)

*	The cumulative figures herein include income (loss) from discontinued operations of Kookmin Bank’s credit card business, which was spun off as of the end of February 2011.

**	Represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit and loss, and other operating income.

***	Represents profit attributable to equity holders of the parent entity.

Specific line items that have been restated:

-Pre-restatement (as disclosed on February 7, 2013)


(Won in millions, %)		4Q 2012		% Change Increase (Decrease) (Q to Q)			% Change Increase (Decrease) (Y to Y)
Operating Revenue*	Specified Quarter		4,779,488		(1.47	)		4.12
Operating Revenue*	Cumulative		19,273,951		—			(13.47	)
Operating Income	Specified Quarter		272,311		(33.08	)		(1.89	)
Operating Income	Cumulative		2,015,265		—			(28.19	)
Income before Income Taxes	Specified Quarter		220,070		(44.48	)		(13.85	)
Income before Income Taxes	Cumulative		1,945,307		—			(29.56	)
Net Income**	Specified Quarter		158,555		(51.40	)		22.03
Net Income**	Cumulative		1,487,380		—			(27.32	)

*	Represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit and loss, and other operating income.

**	Represents profit attributable to equity holders of the parent entity.

-Post-restatement


(Won in millions, %)		4Q 2012		% Change Increase (Decrease) (Q to Q)			% Change Increase (Decrease) (Y to Y)
Operating Revenue*	Specified Quarter		4,778,881		(1.48	)		4.11
Operating Revenue*	Cumulative		19,273,344		—			(13.47	)
Operating Income	Specified Quarter		177,844		(56.29	)		(35.93	)
Operating Income	Cumulative		1,920,798		—			(31.56	)
Income before Income Taxes	Specified Quarter		125,603		(68.31	)		(50.83	)
Income before Income Taxes	Cumulative		1,850,840		—			(32.98	)
Net Income**	Specified Quarter		86,948		(73.35	)		(33.08	)
Net Income**	Cumulative		1,415,773		—			(30.82	)

*	Represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit and loss, and other operating income.

**	Represents profit attributable to equity holders of the parent entity.

Amendment to the Report of Change in Revenue or Income of More than 15%

(KB Financial Group)

On February 28, 2013, KB Financial Group disclosed that it is amending its previous report of change in revenue or income of more than 15%, which was filed on February 7, 2013, to reflect the effect of certain events that occurred after the reporting period. The preliminary figures presented herein are based on the K-IFRS and are currently being audited by our independent auditor and are subject to change.

Amended Report of Change in Revenue or Income of More than 15% (KB Financial Group on a separate basis):

Key Details


						(Won in thousands, %)
	FY2012		FY2011			Change (Amount)		Change (%)
Revenue and Income
- Operating Revenue*		693,943,379		26,999,320			666,994,059		2,470.2
- Operating Income		645,191,215		(62,362,418	)		707,553,633		N.A.	**
- Income before Income Tax		644,879,885		(65,225,447	)		710,105,332		N.A.	**
- Net Income		646,235,488		(63,678,373	)		709,913,861		N.A.	**
Other Financial Data
- Total Assets		18,390,027,782		18,510,689,623
- Total Liabilities		305,685,803		794,409,913
- Shareholders’ Equity		18,084,341,979		17,716,279,710
- Capital Stock		1,931,758,465		1,931,758,465
- Shareholders’ Equity/ Capital Stock Ratio (%)		936.2		917.1

*	Represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit and loss, and other operating income.

**	Not Applicable.

•

The increase in operating revenue and net income were primarily due to an increase in the dividends received from KB Financial Group’s subsidiaries.

Specific line items that have been restated:

Other Financial Data


	FY 2012
(Won in thousands)	Pre-restatement		Post-restatement
Total Assets		18,412,767,905		18,390,027,782

Total Liabilities		328,425,926		305,685,803

Amendment to the Report of Change in Revenue or Income of More than 15%

(Kookmin Bank)

On February 28, 2013, KB Financial Group disclosed that Kookmin Bank, a wholly owned subsidiary of KB Financial Group, is amending its previous report of change in revenue or income of more than 15%, which was filed on February 7, 2013, to reflect the effect of certain events that occurred after the reporting period. The preliminary figures presented herein are based on the K-IFRS and are currently being audited by our independent auditor and are subject to change.

Amended Report of Change in Revenue or Income of More than 15% (Kookmin Bank on a separate basis):

Key Details


					(Won in thousands, %)
	FY2012		FY2011*		Change (Amount)			Change (%)
Revenue and Income
- Operating Revenue**		19,136,840,967		21,743,059,971		(2,606,219,004	)		(12.0	)
- Operating Income		1,865,425,114		2,615,686,997		(750,261,883	)		(28.7	)
- Income before Income Taxes		1,719,062,522		2,555,746,871		(836,684,349	)		(32.7	)
- Net Income		1,299,589,091		2,008,579,433		(708,990,342	)		(35.3	)
Other Financial Data
- Total Assets		258,555,015,876		257,728,624,652
- Total Liabilities		238,677,482,134		238,720,226,628
- Shareholders’ Equity		19,877,533,742		19,008,398,024
- Capital Stock		2,021,895,580		2,021,895,580
- Shareholders’ Equity / Capital Stock Ratio (%)		983.1		940.1

*	The figures for operating revenue, operating income and income before income taxes in the table above for fiscal years 2011 exclude income (loss) from discontinued operations of Kookmin Bank’s credit card business, which was spun off as of the end of February 2011.

**	Represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit and loss, and other operating income.

•

The decrease in operating income and net income were due primarily to (i) a decrease in interest income attributable mainly to a decrease in our net interest margin and (ii) a decrease in non-interest income attributable mainly to one-off items.

Specific line items that have been restated:

Revenue and Income


(Won in thousands)	FY 2012
(Won in thousands)	Pre-restatement		Post-restatement
Operating Income		1,959,892,428		1,865,425,114

Income before Income Taxes		1,813,529,836		1,719,062,522

Net Income		1,371,195,469		1,299,589,091

Other Financial Data


(Won in thousands)	FY 2012
(Won in thousands)	Pre-restatement		Post-restatement
Total Assets		258,648,983,964		258,555,015,876

Total Liabilities		238,699,843,844		238,677,482,134

Shareholders’ Equity		19,949,140,120		19,877,533,742

Shareholders’ Equity / Capital Stock Ratio (%)		986.7		983.1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	KB Financial Group Inc.
	(Registrant)

Date: February 28, 2013	By: /s/ Jong Kyoo Yoon
	(Signature)

	Name:	Jong Kyoo Yoon
	Title:	Deputy President & CFO