0001193125-14-039625.txt : 20140207 0001193125-14-039625.hdr.sgml : 20140207 20140207061033 ACCESSION NUMBER: 0001193125-14-039625 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20140207 FILED AS OF DATE: 20140207 DATE AS OF CHANGE: 20140207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KB Financial Group Inc. CENTRAL INDEX KEY: 0001445930 STANDARD INDUSTRIAL CLASSIFICATION: COMMERCIAL BANKS, NEC [6029] IRS NUMBER: 000000000 STATE OF INCORPORATION: M5 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-53445 FILM NUMBER: 14581829 BUSINESS ADDRESS: STREET 1: 9-1, 2-GA, NAMDAEMOON-RO STREET 2: JUNG-GU CITY: SEOUL STATE: M5 ZIP: 100-703 BUSINESS PHONE: 822-2073-2844 MAIL ADDRESS: STREET 1: 9-1, 2-GA, NAMDAEMOON-RO STREET 2: JUNG-GU CITY: SEOUL STATE: M5 ZIP: 100-703 6-K 1 d672753d6k.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 2014

Commission File Number: 000-53445

 

 

KB Financial Group Inc.

(Translation of registrant’s name into English)

 

 

84, 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 .

 

 

 


Preliminary Operating Results for Fiscal Year 2013

On February 7, 2014, KB Financial Group Inc. (“KB Financial Group”) held an earnings conference and released its preliminary operating results for fiscal year 2013. The following tables reflect the key figures released during the conference. The presentation materials for the conference, which contain further details, are available at KB Financial Group’s website (http://www.kbfg.com).

The preliminary figures presented herein are based on the International Financial Reporting Standards as adopted by the Republic of Korea (“K-IFRS”) and are currently being audited by our independent auditors and are subject to change.

 

  1. Operating results of KB Financial Group (Consolidated)

 

(Won in millions, %)

   4Q 2013      3Q 2013      % Change
Increase
(Decrease)
(Q to Q)
    4Q 2012*      % Change
Increase
(Decrease)

(Y to Y)
 

Operating revenue**

   Specified Quarter      5,361,429         5,055,184         6.06        6,010,999         (10.81
   Cumulative      22,597,188         17,235,759         —          25,395,465         (11.02

Net operating profit

   Specified Quarter      487,817         584,548         (16.55     273,744         78.20   
   Cumulative      2,056,725         1,568,908         —          2,432,198         (15.44

Profit before income tax

   Specified Quarter      398,412         575,473         (30.77     171,996         131.64   
   Cumulative      1,845,024         1,446,612         —          2,298,644         (19.73

Profit for the period

   Specified Quarter      281,503         426,567         (34.01     115,112         144.55   
   Cumulative      1,286,243         1,004,740         —          1,740,133         (26.08

Profit attributable to shareholders of the parent company

   Specified Quarter      281,503         426,567         (34.01     110,374         155.04   
   Cumulative      1,283,047         1,001,544         —          1,731,034         (25.88

 

* The figures have been restated to reflect adjustments resulting from retrospective application of the amendments to K-IFRS that are effective for the financial year beginning on or after January 1, 2013.
** Represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit or loss, and other operating income.


  2. Operating results of Kookmin Bank (Consolidated)

 

(Won in millions, %)

   4Q 2013      3Q 2013      % Change
Increase
(Decrease)
(Q to Q)
    4Q 2012      % Change
Increase
(Decrease)

(Y to Y)
 

Operating revenue**

   Specified Quarter      4,095,114         3,869,788         5.82        4,801,724         (14.72
   Cumulative      17,461,406         13,366,292         —          19,421,893         (10.09

Net operating profit

   Specified Quarter      381,906         416,215         (8.24     133,678         185.69   
   Cumulative      1,467,855         1,085,949         —          1,952,204         (24.81

Profit before income tax

   Specified Quarter      275,323         406,265         (32.23     81,506         237.79   
   Cumulative      1,241,344         966,021         —          1,882,477         (34.06

Profit for the period

   Specified Quarter      195,691         301,887         (35.18     53,697         264.44   
   Cumulative      842,257         646,566         —          1,440,123         (41.51

Profit attributable to shareholders of the parent company

   Specified Quarter      195,691         301,887         (35.18     53,651         264.75   
   Cumulative      842,173         646,482         —          1,439,754         (41.51

 

* The figures have been restated to reflect adjustments resulting from retrospective application of the amendments to K-IFRS that are effective for the financial year beginning on or after January 1, 2013.
** Represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit or loss, and other operating income.


Report of Change in Revenue or Profit of More than 15% (KB Financial Group)

On February 7, 2014, KB Financial Group reported changes in its revenue and profit, each on a consolidated basis, as described below.

 

Key Details    (Won in thousands, %)

 

     FY 2013     FY 2012*     Change
(Amount)
    Change
(%)
 

Revenue and Profit

        

- Operating revenue**

     22,597,187,932        25,395,464,517        (2,798,276,585     (11.0

- Net operating profit

     2,056,724,921        2,432,198,435        (375,473,514     (15.4

- Profit before income tax

     1,845,023,501        2,298,643,717        (453,620,216     (19.7

- Profit attributable to shareholders of the parent company

     1,283,047,224        1,731,033,767        (447,986,543     (25.9

Other Financial Data

        

- Total assets

     291,867,888,775        285,751,055,648       

- Total liabilities

     266,192,519,449        260,987,913,445       

- Shareholders’ equity

     25,675,369,326        24,763,142,203       

- Capital stock

     1,931,758,465        1,931,758,465       

- Shareholders’ equity/capital stock ratio (%)

     1,329.1     1,281.9    

 

* The figures have been restated to reflect adjustments resulting from retrospective application of the amendments to K-IFRS that are effective for the financial year beginning on or after January 1, 2013.
** 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 decreases in operating revenue and profit were primarily due to decreases in operating revenue and profit of Kookmin Bank, a wholly-owned subsidiary of KB Financial Group.
- The preliminary figures presented above are based on K-IFRS and are currently being audited by our independent auditors and are subject to change.


Declaration of Cash Dividends by KB Financial Group Inc.

On February 7, 2014, the board of directors of KB Financial Group passed a resolution to declare a cash dividend of KRW 500 per common share (total dividend amount: KRW 193,175,846,500), subject to shareholder approval. The record date is December 31, 2013, and in accordance with the Korean Commercial Code, the payment for such dividends (which is subject to change pending shareholder approval) is expected to be made within one month following shareholder approval at the annual general meeting of shareholders of KB Financial Group, which is expected to be held on March 28, 2014.

The contents of the above declaration remain subject to change pending approval at the annual general meeting of shareholders and the results of the audit by our independent auditors.

The total number of common shares that are eligible for payment of dividends is 386,351,693 shares.


Report of Change in Revenue or Profit of More than 15% (Kookmin Bank)

On February 7, 2014, KB Financial Group reported changes in the revenue and profit of Kookmin Bank, a wholly-owned subsidiary of KB Financial Group, each on a consolidated basis, as described below.

 

Key Details    (Won in thousands, %)

 

     FY 2013      FY 2012*      Change
(Amount)
    Change
(%)
 

Revenue and Profit

          

- Operating revenue**

     17,461,406,989         19,421,893,206         (1,960,486,217     (10.09

- Net operating profit

     1,467,854,867         1,952,203,945         (484,349,078     (24.81

- Profit before income tax

     1,241,344,213         1,882,476,950         (641,132,737     (34.06

- Profit attributable to shareholders of the parent company

     842,173,209         1,439,754,074         (597,580,865     (41.51

Other Financial Data

        

- Total assets

     265,288,674,809         261,046,853,216        

- Total liabilities

     244,648,822,496         241,029,294,944        

- Shareholders’ equity

     20,639,852,313         20,017,558,271        

- Capital stock

     2,021,895,580         2,021,895,580        

- Shareholders’ equity / capital stock ratio (%)

     1,020.82         990.04        

 

* The figures have been restated to reflect adjustments resulting from retrospective application of the amendments to K-IFRS that are effective for the financial year beginning on or after January 1, 2013.
** 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 decreases in operating revenue and profit were primarily due to (i) a decrease in interest income mainly attributable to a decrease in Kookmin Bank’s net interest margin and (ii) a decrease in non-interest income resulting from a decline in fee and commission income and certain one-off items.
- The preliminary figures presented above are based on K-IFRS and are currently being audited by Kookmin Bank’s independent auditors and are subject to change.


Declaration of Cash Dividends by Kookmin Bank

On February 6, 2014, the board of directors of Kookmin Bank, a wholly-owned subsidiary of KB Financial Group, passed a resolution to declare a cash dividend of KRW 392 per common share (total dividend amount: KRW 158,516,613,472), subject to shareholder approval. The record date is December 31, 2013, and in accordance with the Korean Commercial Code, the payment for such dividends (which is subject to change pending shareholder approval) is expected to be made within one month following shareholder approval at the annual general meeting of shareholders of Kookmin Bank, which is expected to be held on March 27, 2014. The entire dividend amount is to be paid to KB Financial Group, which holds all of the common shares of Kookmin Bank.

The contents of the above declaration remain subject to change pending approval at the annual general meeting of shareholders of Kookmin Bank and the results of the audit of Kookmin Bank by its independent auditors.


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 7, 2014

   

By: /s/ Woong-Won Yoon

    (Signature)
    Name:   Woong-Won Yoon
    Title:   Deputy President & CFO