0001193125-23-192699.txt : 20230725 0001193125-23-192699.hdr.sgml : 20230725 20230725061004 ACCESSION NUMBER: 0001193125-23-192699 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230725 FILED AS OF DATE: 20230725 DATE AS OF CHANGE: 20230725 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: 231106365 BUSINESS ADDRESS: STREET 1: 141, UISADANG-DAERO STREET 2: YEONGDEUNGPO-GU CITY: SEOUL STATE: M5 ZIP: 07332 BUSINESS PHONE: 822-2073-2845 MAIL ADDRESS: STREET 1: 141, UISADANG-DAERO STREET 2: YEONGDEUNGPO-GU CITY: SEOUL STATE: M5 ZIP: 07332 6-K 1 d444256d6k.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 July 2023

Commission File Number: 000-53445

 

 

KB Financial Group Inc.

(Translation of registrant’s name into English)

 

 

26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul 07331, 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  ☒             Form 40-F  ☐

 

 

 

2023 First Half Preliminary Operating Results

On July 25, 2023, KB Financial Group Inc. (“KB Financial Group”) held an earnings conference and released its preliminary operating results for the first half of fiscal year 2023. 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 International Financial Reporting Standards as adopted by the Republic of Korea (“K-IFRS”) and are currently being reviewed by KB Financial Group’s independent auditors and are subject to change.

 

1.

Preliminary Operating Results of KB Financial Group (Consolidated)

 

(Won in millions, %)

    2Q 2023      1Q 2023      % Change
Increase
(Decrease)
(Q to Q)		     2Q 2022      % Change
Increase
(Decrease)
(Y to Y)		  

Operating revenue

   Specified Quarter      15,900,405        24,761,770        (35.79 )      24,484,711        (35.06 ) 
  Cumulative      40,662,175        24,761,770        —         43,730,829        (7.02 ) 

Net operating profit

   Specified Quarter      2,053,044        2,125,025        (3.39 )      1,493,758        37.44  
  Cumulative      4,178,069        2,125,025        —         3,404,167        22.73  

Profit before income tax

   Specified Quarter      1,960,691        2,028,864        (3.36 )      1,686,410        16.26  
  Cumulative      3,989,555        2,028,864        —         3,606,095        10.63  

Profit for the period

   Specified Quarter      1,504,788        1,499,214        0.37       1,245,482        20.82  
  Cumulative      3,004,002        1,499,214        —         2,717,016        10.56  

Profit attributable to shareholders of the parent company

   Specified Quarter      1,499,074        1,497,631        0.10       1,209,951        23.90  
  Cumulative      2,996,705        1,497,631        —         2,670,523        12.21  

 

Notes:    1)    “Operating revenue” represents the sum of interest income, fee and commission income, insurance income, reinsurance income, gain on financial assets/liabilities at fair value through profit or loss, other insurance finance income and other operating income.
   2)    KB Financial Group’s preliminary operating results for the first half of 2023 reflect the application of K-IFRS 1117 (Insurance Contracts), a new accounting standard that became effective on January 1, 2023. For comparison purposes, the figures for the first half of 2022 above have been restated retrospectively to reflect the application of K-IFRS 1117.

2.

Preliminary Operating Results of Kookmin Bank (Consolidated)

 

(Won in millions, %)

    2Q 2023      1Q 2023      % Change
Increase
(Decrease)
(Q to Q)		     2Q 2022      % Change
Increase
(Decrease)
(Y to Y)		  

Operating revenue

    Specified Quarter      8,817,685        14,919,122        (40.90 )      14,947,647        (41.01 ) 
   Cumulative      23,736,807        14,919,122        —         24,877,552        (4.59 ) 

Net operating profit

    Specified Quarter      1,222,012        1,268,140        (3.64 )      995,912        22.70  
   Cumulative      2,490,152        1,268,140        —         2,207,608        12.80  

Profit before income tax

    Specified Quarter      1,188,087        1,235,164        (3.81 )      1,015,435        17.00  
   Cumulative      2,423,251        1,235,164        —         2,230,876        8.62  

Profit for the period

    Specified Quarter      919,941        921,924        (0.22 )      749,928        22.67  
   Cumulative      1,841,865        921,924        —         1,724,454        6.81  

Profit attributable to shareholders of the parent company

    Specified Quarter      926,992        931,516        (0.49 )      749,165        23.74  
   Cumulative      1,858,508        931,516        —         1,726,440        7.65  

 

Note:       “Operating revenue” 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.

3.

Preliminary Operating Results of KB Securities Co., Ltd. (“KB Securities”) (Consolidated)

 

(Won in millions, %)

    2Q 2023      1Q 2023      % Change
Increase
(Decrease)
(Q to Q)		     2Q 2022      % Change
Increase
(Decrease)
(Y to Y)		  

Operating revenue

    Specified Quarter      1,805,906        4,324,249        (58.24 )      4,462,334        (59.53 ) 
   Cumulative      6,130,155        4,324,249        —         8,991,551        (31.82 ) 

Net operating profit (loss)

    Specified Quarter      194,063        264,199        (26.55 )      85,388        127.27  
   Cumulative      458,262        264,199        —         236,501        93.77  

Profit (Loss) before income tax

    Specified Quarter      142,727        188,813        (24.41 )      89,785        58.97  
   Cumulative      331,540        188,813        —         251,752        31.69  

Profit (Loss) for the period

    Specified Quarter      110,304        141,950        (22.29 )      70,191        57.15  
   Cumulative      252,254        141,950        —         186,102        35.55  

Profit (Loss) attributable to shareholders of the parent company

    Specified Quarter      110,345        141,894        (22.23 )      70,006        57.62  
   Cumulative      252,239        141,894        —         185,720        35.82  

 

Notes:    1)    Based on KB Securities’ consolidated financial statements, as a result of which the figures differ from KB Securities’ earnings results to be released at KB Financial Group’s 2023 first half earnings conference, which are based on KB Financial Group’s consolidated financial statements.
   2)    “Operating revenue” represents operating income based on KB Securities’ financial statements.

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: July 25, 2023    

By: /s/ Scott Y. H. Seo

    (Signature)
    Name: Scott Y. H. Seo
    Title: Senior Executive Vice President and Chief Finance Officer