Exhibit 99.2

KB Financial Group Inc.

Separate Interim Financial Statements

March 31, 2025 and 2024

(Unaudited)

KB Financial Group Inc.

	Page(s)
Report on Review of Condensed Separate Interim Financial Statements		1-2
Separate Interim Financial Statements
Separate Interim Statements of Financial Position		3
Separate Interim Statements of Comprehensive Income		4
Separate Interim Statements of Changes in Equity		5
Separate Interim Statements of Cash Flows		6
Notes to the Separate Interim Financial Statements		7

Report on Review of Condensed Separate Interim Financial Statements

(English Translation of a Report Originally Issued in Korean)

To the Shareholders and the Board of Directors of

KB Financial Group Inc.

Reviewed Financial Statements

We have reviewed the accompanying condensed separate interim financial statements of KB Financial Group Inc. (the “Company”). These condensed separate interim financial statements consist of the separate interim statement of financial position of the Company as at March 31, 2025, and the related separate interim statements of comprehensive income, changes in equity and cash flows for the three-month periods ended March 31, 2025 and 2024, and material accounting policy information and other selected explanatory notes, expressed in Korean Won.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and presentation of these condensed separate interim financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (“Korean IFRS”) No.1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of condensed separate interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on these condensed separate interim financial statements based on our review.

We conducted our review in accordance with quarterly or semi-annual review standards established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe the accompanying condensed separate interim financial statements are not prepared, in all material respects, in accordance with Korean IFRS No. 1034 Interim Financial Reporting.

1

Other Matters

We have audited the separate statement of financial position of the Company as at December 31, 2024, and the related separate statements of comprehensive income, changes in equity and cash flows for the year then ended, not presented herein, in accordance with Korean Standards on Auditing. We expressed an unqualified opinion on those financial statements in our audit report dated March 5, 2025. The separate statement of financial position as at December 31, 2024, presented herein for comparative purposes, is consistent, in all material respects, with the above audited statement of financial position as at December 31, 2024.

Review standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to review such financial statements may differ from those generally accepted and applied in other countries.

/s/ Samil PricewaterhouseCoopers

Seoul, Korea

May 15, 2025

This report is effective as of May 15, 2025, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying condensed separate interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that there is a possibility that the above review report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

2

KB Financial Group Inc.

Separate Interim Statements of Financial Position

March 31, 2025 and December 31, 2024

(In millions of Korean won)	Notes		March 31, 2025 (Unaudited)			December 31, 2024
Assets
Cash and due from financial institutions		4,5,6,23	W	2,439,971		W	398,391
Financial assets at fair value through profit or loss		4,5,7		1,852,371			1,243,471
Loans measured at amortized cost		4,5,8		359,054			359,054
Investments in subsidiaries		9		26,867,817			26,867,817
Property and equipment				3,450			2,800
Intangible assets				14,134			14,497
Net defined benefit assets		13		2,474			2,902
Deferred income tax assets		10		700			5,257
Other assets		4,5		982,820			912,634
Total assets			W	32,522,791		W	29,806,823
Liabilities
Borrowings		4,5,11		600,000			965,000
Debentures		4,5,12		3,690,782			2,962,032
Current income tax liabilities				579,086			502,705
Other liabilities		4,5		789,261			388,528
Total liabilities				5,659,129			4,818,265
Equity		14
Share capital				2,090,558			2,090,558
Hybrid securities				5,486,372			5,082,359
Capital surplus				14,711,017			14,754,475
Accumulated other comprehensive loss				(8,327	)		(8,316	)
Retained earnings				6,284,216			4,305,542
Treasury shares				(1,700,174	)		(1,236,060	)
Total equity				26,863,662			24,988,558
Total liabilities and equity			W	32,522,791		W	29,806,823

The above separate interim statements of financial position should be read in conjunction with the accompanying

3

KB Financial Group Inc.

Separate Interim Statements of Comprehensive Income

Three-Month Periods Ended March 31, 2025 and 2024

(In millions of Korean won, except per share amounts)	Notes		2025			2024
Interest income			W	5,527		W	9,817
Interest income from financial instruments at amortized cost				4,685			9,115
Interest income from financial instruments at fair value through profit or loss				842			702
Interest expense				(28,691	)		(23,542	)
Net interest expense		16		(23,164	)		(13,725	)
Fee and commission income				472			378
Fee and commission expense				(2,262	)		(1,520	)
Net fee and commission expense		17		(1,790	)		(1,142	)
Net gains on financial instruments at fair value through profit or loss		18		25,451			15,579
Net other operating income		19		2,355,586			2,243,250
General and administrative expenses		20		(22,168	)		(24,187	)
Operating income before provision for credit losses				2,333,915			2,219,775
Provision (reversal) for credit losses				1			(96	)
Net operating income				2,333,916			2,219,679
Net non-operating income (expense)				67			(646	)
Profit before tax				2,333,983			2,219,033
Income tax benefit (expense)		21		(7,390	)		3,586
Profit for the period				2,326,593			2,222,619
Items that will not be reclassified to profit or loss:
Remeasurements of net defined benefit liabilities				(11	)		47
Other comprehensive income(loss) for the period, net of tax				(11	)		47
Total comprehensive income for the period			W	2,326,582		W	2,222,666
Earnings per share		22
Basic earnings per share			W	6,121		W	5,706
Diluted earnings per share				6,058			5,612

The above separate interim statements of comprehensive income should be read in conjunction with the accompanying notes.

4

KB Financial Group Inc.

Separate Interim Statements of Changes in Equity

Three-Month Periods Ended March 31, 2025 and 2024

(In millions of Korean won)	Share capital		Hybrid securities		Capital surplus			Accumulated other comprehensive income			Retained earnings			Treasury shares			Total equity
Balance as of January 1, 2024	W	2,090,558	W	5,032,518	W	14,754,747		W	(6,809	)	W	4,336,898		W	(1,165,837	)	W	25,042,075
Comprehensive income for the period
Profit for the period		—		—		—			—			2,222,619			—			2,222,619
Remeasurements of net defined benefit liabilities		—		—		—			47			—			—			47
Total comprehensive income for the period		—		—		—			47			2,222,619			—			2,222,666
Transactions with shareholders
Annual dividends		—		—		—			—			(587,006	)		—			(587,006	)
Acquisition of treasury shares		—		—		—			—			—			(65,537	)		(65,537	)
Disposal of treasury shares		—		—		—			—			—			234,600			234,600
Consideration for exchange right of exchangeable bonds		—		—		(11,933	)		—			—			—			(11,933	)
Issuance of hybrid securities		—		399,045		—			—			—			—			399,045
Dividends on hybrid securities		—		—		—			—			(48,070	)		—			(48,070	)
Others		—		—		5,428			—			—			—			5,428
Total transactions with shareholders		—		399,045		(6,505	)		—			(635,076	)		169,063			(73,473	)
Balance as of March 31, 2024	W	2,090,558	W	5,431,563	W	14,748,242		W	(6,762	)	W	5,924,441		W	(996,774	)	W	27,191,268
Balance as of January 1, 2025	W	2,090,558	W	5,082,359	W	14,754,475		W	(8,316	)	W	4,305,542		W	(1,236,060	)	W	24,988,558
Comprehensive income for the period
Profit for the period		—		—		—			—			2,326,593			—			2,326,593
Remeasurements of net defined benefit liabilities		—		—		—			(11	)		—			—			(11	)
Total comprehensive income for the period		—		—		—			(11	)		2,326,593			—			2,326,582
Transactions with shareholders
Annual dividends		—		—		—			—			(298,285	)		—			(298,285	)
Acquisition of treasury shares		—		—		(43,458	)		—			—			(464,114	)		(507,572	)
Issuance of hybrid securities		—		404,013		—			—			—			—			404,013
Dividends on hybrid securities		—		—		—			—			(49,634	)		—			(49,634	)
Total transactions with shareholders		—		404,013		(43,458	)		—			(347,919	)		(464,114	)		(451,478	)
Balance as of March 31, 2025	W	2,090,558	W	5,486,372	W	14,711,017		W	(8,327	)	W	6,284,216		W	(1,700,174	)	W	26,863,662

The above separate interim statements of changes in equity should be read in conjunction with the accompanying notes.

5

KB Financial Group Inc.

Separate Interim Statements of Cash Flows

Three-Month Periods Ended March 31, 2025 and 2024

(In millions of Korean won)	Notes		2025			2024
Cash flows from operating activities
Profit for the period			W	2,326,593		W	2,222,619
Adjustment for non-cash items
Depreciation and amortization expense				1,373			1,526
Provision (reversal) for credit losses				(1	)		96
Share-based payments				758			4,573
Net interest expense				7,149			1,290
Valuation gains on financial assets at fair value through profit or loss				(8,533	)		(1,847	)
Net other income expense				355			1,023
				1,101			6,661
Changes in operating assets and liabilities
Deferred income tax assets				4,561			(3,586	)
Other assets				(2,840	)		(417,743	)
Other liabilities				54,886			(5,573	)
				56,607			(426,902	)
Net cash inflow from operating activities				2,384,301			1,802,378
Cash flows from investing activities
Acquisition of financial assets at fair value through profit or loss				(599,923	)		—
Disposal of financial assets at fair value through profit or loss				—			316,080
Increase in loans measured at amortized cost				—			(35,000	)
Acquisition of property and equipment				(38	)		(7	)
Acquisition of intangible assets				(278	)		(74	)
Disposal of intangible assets				84			—
Net increase in guarantee deposits paid				3,985			1,607
Net cash inflow (outflow) from investing activities				(596,170	)		282,606
Cash flows from financing activities
Increase in borrowings				—			365,000
Decrease in borrowings				(365,000	)		—
Increase in debentures				828,328			—
Decrease in debentures				(100,000	)		(370,000	)
Redemption of principal of lease liabilities				(144	)		(147	)
Acquisition of treasury shares				(464,114	)		(65,537	)
Issuance of hybrid securities				404,013			399,045
Dividends paid on hybrid securities				(49,634	)		(48,070	)
Net cash inflow from financing activities				253,449			280,291
Net increase in cash and cash equivalents				2,041,580			2,365,275
Cash and cash equivalents at the beginning of the period		23		318,388			116,334
Cash and cash equivalents at the end of the period		23	W	2,359,968		W	2,481,609

The above separate interim statements of cash flows should be read in conjunction with the accompanying

6

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

1. The Company

KB Financial Group Inc. (the “Company”), in accordance with Financial Holding Companies Act, was established on September 29, 2008, through stock transfers with the former shareholders of Kookmin Bank, KB Investment & Securities Co., Ltd., KB Asset Management Co., Ltd., KB Real Estate Trust Co., Ltd., KB Investment Co., Ltd., KB Futures Co., Ltd., KB Credit Information Co., Ltd., and KB Data Systems Co., Ltd., and the Company’s main business purpose is to control subsidiaries that engage in the financial business or subsidiaries closely related to the financial business through the stock ownership. The headquarter is located at 26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul. The Company’s share capital as of March 31, 2025, is W 2,090,558 million. In 2011, Kookmin Bank spun off its credit card business segment and established a new separate credit card company, KB Kookmin Card Co., Ltd., and KB Investment & Securities Co., Ltd. merged with KB Futures Co., Ltd. The Company established KB Savings Bank Co., Ltd. in January 2012, acquired Yehansoul Savings Bank Co., Ltd. in September 2013, and KB Savings Bank Co., Ltd. merged with Yehansoul Savings Bank Co., Ltd. in January 2014. In March 2014, the Company acquired Woori Financial Co., Ltd. and changed the name to KB Capital Co., Ltd. Meanwhile, the Company included LIG Insurance Co., Ltd. as an associate and changed the name to KB Insurance Co., Ltd. in June 2015, and KB Insurance Co., Ltd. became one of the subsidiaries through a tender offer in May 2017. Also, the Company included Hyundai Securities Co., Ltd. as an associate in June 2016 and included as a subsidiary in October 2016 by comprehensive exchange of shares. Hyundai Securities Co., Ltd. merged with KB Investment & Securities Co., Ltd. in December 2016 and changed its name to KB Securities Co., Ltd. in January 2017. In August 2020, the Group acquired Prudential Life Insurance Company of Korea Ltd. which was classified as a subsidiary and the name was changed to KB Life Insurance Co., Ltd. in December 2022. Then in January 2023, it merged with another existing KB Life Insurance Co., Ltd. The Company sold 100% shares of KB Credit Information Co., Ltd. to KB Kookmin Card Co., Ltd. on June 30, 2023.

The Company has been listed on the Korea Exchange (“KRX”) since October 10, 2008, and on the New York Stock Exchange (“NYSE”) for its American Depositary Shares (“ADS”) since September 29, 2008. The number of shares authorized on its Articles of Incorporation is 1,000 million.

2. Basis of Preparation

2.1 Application of Korean IFRS

The Company maintains its accounting records in Korean won and prepares statutory financial statements in the Korean language (Hangul) in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (“Korean IFRS”). The accompanying separate financial statements have been translated into English from the Korean language separate financial statements.

The separate financial statements of the Company have been prepared in accordance with Korean IFRS. Korean IFRS are the standards and related interpretations issued by the International Accounting Standards Board (“IASB”) that have been adopted by the Republic of Korea.

The preparation of separate financial statements requires the use of certain critical accounting estimates. Management also needs to exercise judgment in applying the Company’s accounting policies. The areas that require a more complex and higher level of judgment or areas that require significant assumptions and estimations are disclosed in Note 2.4.

The separate financial statements have been prepared in accordance with Korean IFRS No.1027 Separate Financial Statements.

7

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

2.1 Application of Korean IFRS (cont’d)

The Company’s condensed separate interim financial statements for the three-month period ended March 31, 2025, have been prepared in accordance with Korean IFRS No.1034 Interim Financial Reporting and contain less information than is required in annual separate financial statements. Selected explanatory notes include descriptions of transactions or events that are significant in understanding change in financial position and financial performance of the Company since the end of the previous annual reporting period. These separate interim financial statements have been prepared in accordance with Korean IFRS which is effective or early adopted as of March 31, 2025.

2.1.1 The Company has applied the following new and amended standards for the first time for its annual reporting period commencing January 1, 2025.

• Amendment of Korean IFRS No.1021 “The Effects of Changes in Foreign Exchange Rates” and Korean IFRS No.1101 “First-time Adoption of International Financial Reporting Standards”—Lack of exchangeability

The amendments require the Company to determine a spot exchange rate when exchangeability is lacking, and to disclose information on the nature and financial effects of the currency not being exchangeable into the other currency, the spot exchange rate(s) used, the estimation process, and the risks to which the Company is exposed. These amendments do not have a significant impact on the financial statements.

2.1.2 The following are the accounting standards that have been established or announced but have not yet been implemented, which the Group has not applied

• Amendment of Korean IFRS No.1109 “Financial Instruments” and No.1107 “Financial Instruments”

The amendments respond to recent questions arising in practice. This amendment will be applied to the financial statements for the accounting year beginning on or after January 1, 2026. These amendments do not have a significant impact on the financial statements.

• clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system;

• clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion;

• add new disclosures for certain instruments with contractual terms that can change cash flows

• update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI).

• Korean IFRS Accounting Standards Annual Improvements Volume 11

Korean IFRS Accounting Standards Annual Improvements Volume 11 will be effective for annual reporting periods beginning on or after January 1, 2026. These amendments do not have a significant impact on the financial statements.

• Korean IFRS No.1101 “First-time adoption of International Financial Reporting Standards”: Hedge accounting by a first-time adopter

• Korean IFRS No.1107 “Financial Instruments: Disclosures”: Gain or loss on derecognition, Application guidance

• Korean IFRS No.1109 “Financial Instruments”: Derecognition of lease liabilities, Definition of transaction price

• Korean IFRS No.1110 “Consolidated Financial Statements”: Determination of a ‘de facto agent’

• Korean IFRS Bo.1007 “Statement of Cash Flows”: Cost method

8

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

2.2 Measurement Basis

The separate financial statements have been prepared under the historical cost convention unless otherwise specified.

2.3 Functional and Presentation Currency

Items included in the separate financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (“functional currency”). The separate financial statements are presented in Korean won, which is the Company’s functional and presentation currency.

2.4 Critical Accounting Estimates

The Company applies accounting policies and uses judgements, accounting estimates, and assumptions that may have a significant impact on the assets (liabilities) and incomes (expenses) in preparing the separate financial statements. Management’s estimates of outcomes may differ from actual outcomes if management’s estimates and assumptions based on management’s best judgment are different from the actual environment.

Estimates and underlying assumptions are continually evaluated, and changes in accounting estimates are recognized in the period in which the estimates are changed and in any future periods affected.

Uncertainties in estimates and assumptions with significant risks used in the preparation of these condensed separate interim financial statements are the same as 2024 financial statements, except for the method of estimating income tax expense.

3. Material Accounting Policies

The material accounting policies and calculation methods applied in the preparation of these condensed separate interim financial statements are the same as those applied to the separate financial statements for the year ended December 31, 2024, except for the impact of changes due to adopting new and amended standards and interpretations described in Note 2.1 and below paragraph.

The Company is subject to Pillar 2 income taxes, and has applied a temporary exemption provision regarding the recognition and disclosure of deferred taxes related to the Pillar 2 rules.

Income tax expense for the interim period is measured applying the expected average annual income tax rate applicable on expected total annual income.

9

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

4. Financial Risk Management

4.1 Summary

4.1.1 Overview of financial risk management policy

The financial risks that the Company is exposed to are credit risk, market risk, liquidity risk and others.

This note regarding financial risk management provides information about the risks that the Company is exposed to and about its objectives, policies, risk assessment and management procedures, and capital management. Additional quantitative information is disclosed throughout the separate financial statements.

The Company’s risk management system focuses on efficiently supporting long-term strategy and management decisions of the Company by increasing risk transparency, preventing risk transfer between subsidiaries and preemptive response to rapidly changing financial environments. Credit risk, market risk, liquidity risk, operational risk, interest rate risk, insurance risk, credit concentration risk, strategy risk, and reputation risk are recognized as significant risks.

4.1.2 Risk management organization

4.1.2.1 Risk Management Committee

The Risk Management Committee, as the ultimate decision-making body, deals with risk-related issues, such as establishing risk management strategies in accordance with the strategic direction determined by the Board of Directors, determining the affordable level of risk appetite, reviewing the level of risk and the status of risk management activities, approving the application of risk management systems, methodologies, and major improvements, and establishing and approving risk management policies and procedures to timely recognize, measure, monitor, and control risks arising from various transactions by the Company and subsidiaries (the “Group”).

4.1.2.2 Risk Management Council

The Risk Management Council is responsible for consulting on matters delegated by the Risk Management Committee and requests for review by the Group Management Executive Committee, consulting on details of each subsidiary’s risk management policies and procedures, monitoring the Group’s risk management status, and establishing and implementing necessary measures.

4.1.2.3 Risk Management Department

The Risk Management Department performs the Company’s risk management detailed policies, procedures, and business processes, and is responsible for calculating the Group’s risk-weighted assets, monitoring and managing internal capital limits.

10

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

4.2 Credit Risk

4.2.1 Overview of credit risk

Credit risk is the risk of loss from the portfolio of assets held due to the counterparty’s default, breach of contract, and deterioration of credit quality. For risk management purposes, the Company considers default risk of individual borrowers.

4.2.2 Credit risk management

The Company measures the expected losses of assets subject to credit risk management and uses them as a management indicator.

4.2.3 Maximum exposure to credit risk

The Company’s maximum exposures to credit risk without consideration of collateral values in relation to financial instruments other than equity securities as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025		December 31, 2024
Due from financial institutions	W	2,439,971	W	398,391
Loans measured at amortized cost *		359,054		359,054
Loans measured at fair value through profit or loss		555,332		53,952
Other financial assets *		49,479		48,614
	W	3,403,836	W	860,011

* After netting of allowance

4.2.4 Credit risk of loans

The Company maintains allowances for loan losses associated with credit risk of loans to manage its credit risk.

The Company assesses expected credit losses and recognizes loss allowances of financial assets at amortized cost and financial assets at fair value through other comprehensive income. Financial assets at fair value through profit or loss are excluded. Expected credit losses are a probability-weighted estimate of possible credit losses occurring in a certain range by reflecting reasonable and supportable information that is reasonably available at the end of the reporting period without undue cost or effort, including information about past events, current conditions, and forecasts of future economic conditions. The Company measures the expected credit losses on loans classified as financial assets at amortized cost, by deducting allowances for credit losses. The expected credit losses of loans classified as financial assets at fair value through other comprehensive income are presented in other comprehensive income in the financial statements.

11

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.4 Credit risk of loans (cont’d)

Credit qualities of loans measured at amortized cost as of March 31, 2025 and December 31, 2024 are classified as follows:

	March 31, 2025
(In millions of Korean won)	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
			Not-impaired		Impaired
Loans measured at amortized cost *
Corporate
Grade 1	W	360,000	W	—	W	—	W	—	W	360,000
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—
	W	360,000	W	—	W	—	W	—	W	360,000

	December 31, 2024
(In millions of Korean won)	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
			Not-impaired		Impaired
Loans measured at amortized cost *
Corporate
Grade 1	W	360,000	W	—	W	—	W	—	W	360,000
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—
	W	360,000	W	—	W	—	W	—	W	360,000

* Before netting of allowance

Credit qualities of loans graded according to the probability of default as March 31, 2025 and December 31 2024 are as follows:

	Range of probability of default (%)
Grade 1	0.0 ~ 1.0
Grade 2	1.0 ~ 5.0
Grade 3	5.0 ~ 15.0
Grade 4	15.0 ~ 30.0
Grade 5	30.0 ~

12

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.5 Credit risk of due from financial institutions

Credit qualities of due from financial institutions as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
(In millions of Korean won)	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
			Not-impaired		Impaired
Due from financial institutions measured at amortized cost
Grade 1	W	2,439,971	W	—	W	—	W	—	W	2,439,971
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—
	W	2,439,971	W	—	W	—	W	—	W	2,439,971

	December 31, 2024
(In millions of Korean won)	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
			Not-impaired		Impaired
Due from financial institutions measured at amortized cost
Grade 1	W	398,391	W	—	W	—	W	—	W	398,391
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—
	W	398,391	W	—	W	—	W	—	W	398,391

13

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.6 Credit risk concentration analysis

4.2.6.1 Classifications of corporate loans by industry as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
(In millions of Korean won)	Corporate loans *		%		Allowances			Carrying amount
Financial institutions	W	915,332		100.00	W	(946	)	W	914,386

(In millions of Korean won)	December 31, 2024
	Corporate loans *		%		Allowances			Carrying amount
Financial institutions	W	413,952		100.00	W	(946	)	W	413,006

* Amount includes loans measured at fair value through profit or loss and amortized cost.

4.2.6.2 Classifications of due from financial institutions by industry as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
(In millions of Korean won)	Amount		%		Allowances		Carrying amount
Due from financial institutions measured at amortized cost
Financial institutions	W	2,439,971		100.00	W	—	W	2,439,971

	December 31, 2024
(In millions of Korean won)	Amount		%		Allowances		Carrying amount
Due from financial institutions measured at amortized cost
Financial institutions	W	398,391		100.00	W	—	W	398,391

14

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

4.3 Liquidity Risk

4.3.1 Overview of liquidity risk

Liquidity risk is a risk that the Company becomes insolvent due to the mismatch between the inflow and outflow of funds, unexpected cash outflows, or a risk of loss due to financing funds at a high interest rate or disposing of securities at an unfavorable price due to lack of available funds. The Company manages its liquidity risk through analysis of the contractual maturity of all financial assets and liabilities and discloses in six categories such as on demand, less than one month, between one month to three months, between three months to one year, between one year to five years, and over five years.

4.3.2. Liquidity risk management

The liquidity risk is managed by risk management policies and liquidity risk management guidelines set forth in these policies that apply to all risk management policies and procedures that may arise throughout the overall business of the Company.

4.3.3. Analysis of remaining contractual maturity of financial liabilities

The cash flows disclosed in the maturity analysis are undiscounted contractual amounts including principal and future interest payments; as such, amounts in the table below do not match with those in the statements of financial position which are based on discounted cash flows. The future interest payments for floating-rate liabilities are calculated on the assumption that the current interest rate is the same until maturity.

Remaining contractual maturity of financial liabilities as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
(In millions of Korean won)	On Demand		Up to 1 month		1-3 months		3-12 months		1-5 years		Over 5 years		Total
Financial liabilities
Borrowings	W	—	W	100,000	W	300,000	W	200,000	W	—	W	—	W	600,000
Debentures		—		7,204		496,841		190,782		2,902,462		360,139		3,957,428
Lease liabilities		—		47		101		342		486		—		976
Other financial liabilities		—		349,595		—		6,442		—		—		356,037
	W	—	W	456,846	W	796,942	W	397,566	W	2,902,948	W	360,139	W	4,914,441

	December 31, 2024
(In millions of Korean won)	On Demand		Up to 1 month		1-3 months		3-12 months		1-5 years		Over 5 years		Total
Financial liabilities
Borrowings	W	—	W	—	W	365,000	W	600,000	W	—	W	—	W	965,000
Debentures		—		105,451		13,009		626,993		1,662,628		774,560		3,182,641
Lease liabilities		—		48		91		362		375		—		876
Other financial liabilities		—		2,088		462		—		—		—		2,550
	W	—	W	107,587	W	378,562	W	1,227,355	W	1,663,003	W	774,560	W	4,151,067

15

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

4.4 Market Risk

4.4.1 Concept

Market risk refers to risks that can result in losses due to changes in market factors such as interest rate, stock price, and foreign exchange rate, etc. The Company manages the market risks by dividing them into those arising from the trading position and those arising from the non-trading position.

4.4.2 Trading position

In accordance with Financial Holding Companies Act, the Company’s main business is to control financial companies or companies closely related to the financial service. And the Company cannot perform any other business other than managing activities as a holding company, therefore there is no risk of trading position.

4.4.3 Non-trading position

Non-trading position refers to the part except trading position, and the main risk the Company is managing is interest rate risk.

4.4.3.1 Interest rate risk

(a) Definition of interest rate risk

Interest rate risk refers to the risk of changes in the value (fair value) of the items in the statement of financial position due to changes in interest rate and the risk of changes in cash flows related to interest income and interest expense arising from investment and financing activities.

(b) Observation method and management indicator on interest rate risk

The main objective of interest rate risk management is to protect the value changes from interest rate fluctuations. In addition to the Interest Rate Risk in the Banking Book (“IRRBB”) standard methodology required for disclosure to measure interest rate risk.

16

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

5. Financial Assets and Financial Liabilities

5.1 Classification and Fair Value of Financial Instruments

5.1.1 Carrying amount and fair value of financial assets and liabilities by category as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
(In millions of Korean won)	Carrying amount		Fair value
Financial assets
Financial assets at fair value through profit or loss
Hybrid securities	W	1,196,925	W	1,196,925
Beneficiary certificates		100,114		100,114
Loans		555,332		555,332
Financial assets at amortized cost
Due from financial institutions		2,439,971		2,439,971
Loans		359,054		359,054
Other financial assets		49,479		49,479
	W	4,700,875	W	4,700,875
Financial liabilities
Financial liabilities at amortized cost
Borrowings	W	600,000	W	600,000
Debentures		3,690,782		3,658,468
Other financial liabilities		367,283		367,283
	W	4,658,065	W	4,625,751

	December 31, 2024
(In millions of Korean won)	Carrying amount		Fair value
Financial assets
Financial assets at fair value through profit or loss
Hybrid securities	W	1,189,519	W	1,189,519
Loans		53,952		53,952
Financial assets at amortized cost
Due from financial institutions		398,391		398,391
Loans		359,054		359,054
Other financial assets		48,614		48,614
	W	2,049,530	W	2,049,530
Financial liabilities
Financial liabilities at amortized cost
Borrowings	W	965,000	W	965,000
Debentures		2,962,032		2,906,349
Other financial liabilities		11,402		11,402
	W	3,938,434	W	3,882,751

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Company discloses the fair value of each class of assets and liabilities in a way that permits it to be compared with its carrying amount at the end of each reporting period. The best evidence of fair value of financial instruments is quoted price in an active market.

17

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

5.1.1 Carrying amount and fair value of financial assets and liabilities by category as of March 31, 2025 and December 31, 2024 are as follows: (cont’d)

Methods of determining fair value of financial instruments are as follows:

Cash and due from financial institutions	Fair value of cash is same as carrying amount. Carrying amount of demand deposit and settlement deposit is a reasonable approximation of fair value because these financial instruments do not have a fixed maturity and are receivable on demand. Fair value of general deposit is measured using Discounted Cash Flow (“DCF”) Model.
Securities	Fair value of financial instruments that are quoted in an active market is determined using the quoted prices. If there is no quoted price, fair value is determined using external professional valuation institutions. The institutions use one or more valuation techniques that are deemed appropriate considering the characteristics of the financial instruments among DCF Model, Imputed Market Value Model, Free Cash Flow to Equity Model, Dividend Discount Model, Risk Adjusted Discount Rate Method, and Net Asset Value Method.
Derivatives	Fair value of exchange traded derivatives is determined using quoted price in an active market, and fair value of OTC derivatives is determined using valuation techniques. The Company uses internally developed valuation models that are widely used by market participants to determine fair value of plain vanilla OTC derivatives including options, interest rate swaps, and currency swaps, based on observable market parameters. However, some complex financial instruments are valued using appropriate models developed from generally accepted market valuation models including the Finite Difference Method (“FDM”), and the MonteCarlo Simulation or valuation results from independent external professional valuation institution.
Loans	Fair value of loans is determined using DCF model discounting the expected cash flows, which are contractual cash flows adjusted by the expected prepayment rate, at an appropriate discount rate.
Borrowings	DCF model is used to determine the fair value of borrowings, but in the case of short-term maturity, carrying amount is a reasonable approximation of fair value.
Debentures	Fair value is determined by using valuation results of external professional valuation institutions, which are calculated using market inputs.
Other financial assets and other financial liabilities	Carrying amount is a reasonable approximation of fair value because other financial assets and other financial liabilities are temporary accounts used for other various transactions and their maturities are relatively short or not defined.

18

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

5.1.2 Fair value hierarchy

The Company believes that valuation techniques used for measuring the fair value of financial instruments are reasonable and that the fair value recognized in the statements of financial position is appropriate. However, the fair value of the financial instruments recognized in the statements of financial position may be different if other valuation techniques or assumptions are used. Additionally, as there are a variety of valuation techniques and assumptions used in measuring fair value, it may be difficult to reasonably compare the fair value with that of other financial institutions.

The Company classifies and discloses fair value of the financial instruments into the three fair value levels as follows:

Level 1 :	The fair values are based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.
Level 2 :	The fair values are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
Level 3 :	The fair values are based on unobservable inputs for the asset or liability.

The fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. If an observable input requires an adjustment using an unobservable input and that adjustment results in a significantly higher or lower fair value measurement, the resulting measurement would be categorized within Level 3 of the fair value hierarchy.

5.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the statements of financial position

Fair value hierarchy of financial assets at fair value in the statements of financial position as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
	Fair value hierarchy						Total
(In millions of Korean won)	Level 1		Level 2		Level 3
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities	W	—	W	—	W	1,196,925	W	1,196,925
Beneficiary certificates		—		100,114		—		100,114
Loans		—		555,332		—		555,332
	W	—	W	655,446	W	1,196,925	W	1,852,371

	December 31, 2024
	Fair value hierarchy						Total
(In millions of Korean won)	Level 1		Level 2		Level 3
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities	W	—	W	—	W	1,189,519	W	1,189,519
Loans		—		53,952		—		53,952
	W	—	W	53,952	W	1,189,519	W	1,243,471

19

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

5.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the statements of financial position (cont’d)

Valuation techniques and inputs of financial assets and liabilities classified as Level 2 and measured at fair value in the statements of financial position as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
(In millions of Korean won)	Fair value		Valuation techniques		Inputs
Financial assets
Financial assets at fair value through profit or loss:
Beneficiary certificates	W	100,114		Net Asset Value Method		Price of underlying asset
Loans		555,332		DCF model		Interest rate, Discount rate, etc.
	W	655,446

	December 31, 2024
(In millions of Korean won)	Fair value		Valuation techniques		Inputs
Financial assets
Financial assets at fair value through profit or loss:
Loans	W	53,952		DCF model		Interest rate, Discount rate, etc.

5.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed

Fair value hierarchy of financial assets and liabilities whose fair value is disclosed as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
	Fair value hierarchy
(In millions of Korean won)	Level 1		Level 2		Level 3		Total
Financial assets
Cash and due from financial institutions 1	W	—	W	2,439,971	W	—	W	2,439,971
Loans measured at amortized cost 2		—		—		359,054		359,054
Other financial assets 3		—		—		49,479		49,479
	W	—	W	2,439,971	W	408,533	W	2,848,504
Financial liabilities
Borrowings 4	W	—	W	600,000	W	—	W	600,000
Debentures		—		3,658,468		—		3,658,468
Other financial liabilities 3		—		—		367,283		367,283
	W	—	W	4,258,468	W	367,283	W	4,625,751

20

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

5.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed (cont’d)

	December 31, 2024
	Fair value hierarchy
(In millions of Korean won)	Level 1		Level 2		Level 3		Total
Financial assets
Cash and due from financial institutions 1	W	—	W	398,391	W	—	W	398,391
Loans measured at amortized cost 2		—		—		359,054		359,054
Other financial assets 3		—		—		48,614		48,614
	W	—	W	398,391	W	407,668	W	806,059
Financial liabilities
Borrowings 4	W	—	W	965,000	W	—	W	965,000
Debentures		—		2,906,349		—		2,906,349
Other financial liabilities 3		—		—		11,402		11,402
	W	—	W	3,871,349	W	11,402	W	3,882,751

¹  Because due from financial institutions classified as level 2 are deposits on demand and with remaining maturities of less than one year, carrying amounts are reasonable approximations of fair values.

²  Because loans measured at amortized cost classified as level 3 are loans with residual maturity of less than one year, carrying amounts are reasonable approximations of fair values.

³  For other financial assets and other financial liabilities classified as level 3, carrying amounts are reasonable approximations of fair values.

⁴  For borrowings classified as level 2, carrying amount is reasonable approximations of fair value.

Financial assets and liabilities whose carrying amount is a reasonable approximation of fair value, valuation techniques and inputs are not disclosed.

Valuation techniques and inputs of financial assets and liabilities classified as Level 2, and whose fair value is disclosed as of March 31, 2025 and December 31, 2024 are as follows:

	Fair value				Valuation techniques		Inputs
(In millions of Korean won)	March 31, 2025		December 31, 2024
Financial liabilities
Debentures	W	3,658,468	W	2,906,349		DCF model		Discount rate

5.2 Disclosure of Fair Value Hierarchy Level 3

5.2.1 Valuation policy and process of Level 3 fair value

The Company uses external, independent and qualified valuation service to determine the fair value of financial instruments at the end of every reporting period.

21

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

5.2.2 Changes in fair value (Level 3) measured using valuation technique based on unobservable inputs in the market

5.2.2.1 Changes in financial instruments classified as Level 3 of the fair value hierarchy for the three-month periods ended March 31, 2025 and 2024 are as follows:

	2025		2024
(In millions of Korean won)	Financial assets at fair value through profit or loss		Financial assets at fair value through profit or loss
Beginning	W	1,189,519	W	1,011,363
Total gains or losses:
- Profit or loss		7,406		1,497
- Other comprehensive income		—		—
Purchases		—		—
Sales		—		—
Issues		—		—
Settlements		—		—
Transfers into Level 3		—		—
Transfers out of Level 3		—		—
Ending	W	1,196,925	W	1,012,860

5.2.2.2 In relation to changes in financial instruments classified as Level 3 of the fair value hierarchy, total gains or losses recognized in profit or loss for the period, and total gains or losses recognized in profit or loss from financial instruments held at the end of the reporting period for the three-month periods ended March 31, 2025 and 2024 are as follows:

	2025						2024
(In millions of Korean won)	Gains on financial instruments at fair value through profit or loss		Other operating income		Net interest income		Losses on financial instruments at fair value through profit or loss		Other operating income		Net interest income
Total gains (losses) included in profit or loss for the period	W	7,406	W	—	W	—	W	1,497	W	—	W	—
Total gains (losses) for the period included in profit or loss for financial instruments held at the end of the reporting period		7,406		—		—		1,497		—		—

22

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

5.2.3 Sensitivity analysis of changes in unobservable inputs

5.2.3.1 Information about fair value measurements using unobservable inputs as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
(In millions of Korean won)	Fair value	Valuation techniques	Inputs	Unobservable inputs	Range of unobservable inputs (%)	Relationship of unobservable inputs to fair value
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities	W1,196,925	Hull and White Model, MonteCarlo Simulation	Matrix YTM, Additional spread by grade, Risk spread of company, Valid credit rating, Disclosed information of securities, Estimated volatility of Interest rate	Discount rate	3.08 ~ 8.24	The lower the discount rate, the higher the fair value
				Volatility of interest rate	0.54 ~ 0.64	The higher the volatility, the higher the fair value fluctuation
	December 31, 2024
(In millions of Korean won)	Fair value	Valuation techniques	Inputs	Unobservable inputs	Range of unobservable inputs (%)	Relationship of unobservable inputs to fair value
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities	W1,189,519	Hull and White Model, MonteCarlo Simulation	Matrix YTM, Additional spread by grade, Risk spread of company, Valid credit rating, Disclosed information of securities, Estimated volatility of Interest rate	Discount rate	3.41 ~ 8.45	The lower the discount rate, the higher the fair value
				Volatility of interest rate	0.56 ~ 0.73	The higher the volatility, the higher the fair value fluctuation

23

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

5.2.3.2 Sensitivity analysis of changes in unobservable inputs

Sensitivity analysis of financial instruments is performed to measure favorable and unfavorable changes in fair value of financial instruments which are affected by unobservable parameters, using a statistical technique. When the fair value is affected by more than one input parameter, the amounts represent the most favorable or most unfavorable outcome. There are hybrid securities whose fair value changes are recognized in profit or loss.

Results of the sensitivity analysis of changes in unobservable inputs as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
	Profit or loss					Other comprehensive income or loss
(In millions of Korean won)	Favorable changes		Unfavorable changes			Favorable changes		Unfavorable changes
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities *	W	6,581	W	(6,526	)	W	—	W	—

* The changes in fair value are calculated by increasing or decreasing discount rates (3.08% ~ 8.24%) by 1%p, which are principal unobservable input parameters.

	December 31, 2024
	Profit or loss					Other comprehensive income or loss
(In millions of Korean won)	Favorable changes		Unfavorable changes			Favorable changes		Unfavorable changes
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities *	W	7,351	W	(7,227	)	W	—	W	—

* The changes in fair value are calculated by increasing or decreasing discount rates (3.41% ~ 8.45%) by 1%p, which are principal unobservable input parameters.

24

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

6. Due from Financial Institutions

6.1 Details of due from financial institutions as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)		Financial Institution	Interest rate (%) as of March 31, 2025		March 31, 2025		December 31, 2024
Due from financial institutions in Korean won	Due from banks	Kookmin Bank		0.00 ~ 1.20	W	2,303,679	W	316,781
		KB Savings Bank Co., Ltd.		2.40 ~ 2.50		80,000		80,000
		Shinhan Bank		2.75		273		—
		KB Securities Co., Ltd.		0.00		56,019		—
		Standard Chartered Bank		—		—		1,610
					W	2,439,971	W	398,391

6.2 Details of restricted due from financial institution as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	Financial Institution	March 31, 2025		December 31, 2024		Reasons of restriction
Due from financial institutions in Korean won	Kookmin Bank	W	3	W	3	Pledged as collateral for the overdraft account

7. Financial Assets at Fair Value through Profit or Loss

Details of financial assets at fair value through profit or loss as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025		December 31, 2024
Financial assets at fair value through profit or loss:
Hybrid securities	W	1,196,925	W	1,189,519
Beneficiary certificates		100,114		—
Loans		555,332		53,952
	W	1,852,371	W	1,243,471

25

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

8. Loans Measured at Amortized Cost

Details of loans measured at amortized cost as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025			December 31, 2024
Loans measured at amortized cost	W	360,000		W	360,000
Less: Allowances for loan losses		(946	)		(946	)
	W	359,054		W	359,054

9. Investments in Subsidiaries

9.1 Details of subsidiaries as of March 31, 2025, are as follows:

Name of subsidiaries	Industry	Location
Kookmin Bank	Banking and foreign exchange transaction	Korea
KB Securities Co., Ltd.	Financial investment	Korea
KB Insurance Co., Ltd.	Non-life insurance	Korea
KB Kookmin Card Co., Ltd.	Credit card and installment financial business	Korea
KB Life Insurance Co., Ltd.	Life insurance	Korea
KB Asset Management Co., Ltd.	Investment advisory and investment trust	Korea
KB Capital Co., Ltd.	Financial leasing	Korea
KB Real Estate Trust Co., Ltd.	Real estate trust management	Korea
KB Savings Bank Co., Ltd.	Savings banking	Korea
KB Investment Co., Ltd.	Capital investment	Korea
KB Data System Co., Ltd.	System software, development and supply	Korea

9.2 Details of investments in subsidiaries as of March 31, 2025 and December 31, 2024 are as follows:

	As of March 31, 2025				Carrying amount
Name of subsidiaries	Number of issued shares		Ownership (%)		March 31, 2025		December 31, 2024
Kookmin Bank		404,379,116		100.00	W	14,821,721	W	14,821,721
KB Securities Co., Ltd.		298,620,424		100.00		3,342,391		3,342,391
KB Insurance Co., Ltd.		66,500,000		100.00		2,375,430		2,375,430
KB Kookmin Card Co., Ltd.		92,000,000		100.00		1,953,175		1,953,175
KB Life Insurance Co., Ltd.		16,201,518		100.00		2,795,367		2,795,367
KB Asset Management Co., Ltd.		7,667,550		100.00		96,312		96,312
KB Capital Co., Ltd.		32,175,147		100.00		873,811		873,811
KB Real Estate Trust Co., Ltd. *		21,616,085		100.00		271,553		271,553
KB Savings Bank Co., Ltd.		8,001,912		100.00		176,813		176,813
KB Investment Co., Ltd.		22,525,328		100.00		154,910		154,910
KB Data System Co., Ltd.		800,000		100.00		6,334		6,334
					W	26,867,817	W	26,867,817

* Investment in subsidiaries increased by W 150,000 million due to the issuance of shares by KB Real Estate Trust Co., Ltd. during the twelve-month period ended December 31, 2024.

26

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

10. Deferred Income Tax Assets and Liabilities

Details of deferred income tax assets and liabilities as of March 31, 2025 and December 31, 2024 are as follows:

	March 31, 2025
(In millions of Korean won)	Assets			Liabilities			Net amount
Share-based payments	W	4,532		W	—		W	4,532
Membership rights		226			—			226
Defined benefit obligation		2,426			—			2,426
Plan assets		—			(2,426	)		(2,426	)
Short-term employee benefits		714			—			714
Losses on valuation of financial assets at fair value through profit or loss		—			(4,468	)		(4,468	)
Others		553			(857	)		(304	)
		8,451			(7,751	)		700
Offsetting of deferred tax assets and liabilities		(7,751	)		7,751			—
	W	700		W	—		W	700
	December 31, 2024
(In millions of Korean won)	Assets			Liabilities			Net amount
Share-based payments	W	6,682		W	—		W	6,682
Membership rights		226			—			226
Defined benefit obligation		2,855			—			2,855
Plan assets		—			(2,855	)		(2,855	)
Short-term employee benefits		363			—			363
Gains or losses on valuation of financial assets at fair value through profit or loss		—			(2,513	)		(2,513	)
Others		1,203			(704	)		499
		11,329			(6,072	)		5,257
Offsetting of deferred tax assets and liabilities		(6,072	)		6,072			—
	W	5,257		W	—		W	5,257

27

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

11. Borrowings

11.1 Details of borrowings as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025		December 31, 2024
Borrowings	W	600,000	W	965,000

11.2 Details of borrowings as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)

Lenders

Borrowing date

Maturity date

Interest rate (%) as of March 31, 2025

March 31, 2025

December 31, 2024

Borrowings in Korean won

Other borrowings

KIWOOM SECURITIES co., Ltd.

Feb. 20, 2024

Feb. 18, 2025

—

—

200,000

Other borrowings

Hanyang SECURITIES co., Ltd.

Feb. 21, 2024

Feb. 19, 2025

—

—

65,000

Other borrowings

SK SECURITIES co., Ltd.

Mar. 21, 2024

Mar. 20, 2025

—

—

100,000

Other borrowings

KIWOOM SECURITIES co., Ltd.

Apr. 25, 2024

Apr. 24, 2025

3.66

100,000

100,000

Other borrowings

KIWOOM SECURITIES co., Ltd.

May. 29, 2024

May. 28, 2025

3.70

100,000

100,000

Other borrowings

SK SECURITIES co., Ltd.

Jun. 26, 2024

Jun. 25, 2025

3.66

200,000

200,000

Other borrowings

KIWOOM SECURITIES co., Ltd.

Jul. 29, 2024

Jul. 28, 2025

3.45

200,000

200,000

W

600,000

W

965,000

11.3 Maturities of borrowings as of March 31, 2025 are as follows:

March 31, 2025

(In millions of Korean won)

Up to 3 months

3~6 months

6~12 months

1~3 years

Over 3 years

Total

Borrowings in Korean won

W

400,000

W

200,000

W

—

W

—

W

—

W

600,000

December 31, 2024

Up to 3 months

3~6 months

6~12 months

1~3 years

Over 3 years

Total

Borrowings in Korean won

W

365,000

W

400,000

W

200,000

W

—

W

—

W

965,000

28

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

12. Debentures

12.1 Details of debentures as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	Issuance date		Maturity date		Interest rate (%) as of March 31, 2025		March 31, 2025			December 31, 2024
Unguaranteed debentures No.15-3		May. 12, 2016		May. 12, 2026		2.01	W	200,000		W	200,000
Unguaranteed debentures No.18-3		Jul. 25, 2016		Jul. 25, 2026		1.69		80,000			80,000
Unguaranteed debentures No.19-3		Aug. 25, 2016		Aug. 25, 2026		1.69		120,000			120,000
Unguaranteed debentures No.25-4		May. 24, 2017		May. 24, 2027		2.62		80,000			80,000
Unguaranteed debentures No.28-3		Aug. 30, 2017		Aug. 30, 2027		2.60		60,000			60,000
Unguaranteed debentures No.31-3		Feb. 28, 2018		Feb. 28, 2028		3.02		60,000			60,000
Unguaranteed debentures No.32-3		Apr. 6, 2018		Apr. 6, 2028		2.86		20,000			20,000
Unguaranteed debentures No.33-2		Jun. 12, 2018		Jun. 12, 2028		2.92		30,000			30,000
Unguaranteed debentures No.34-3		Jul. 25, 2018		Jul. 25, 2025		2.71		20,000			20,000
Unguaranteed debentures No.34-4		Jul. 25, 2018		Jul. 25, 2028		2.76		20,000			20,000
Unguaranteed debentures No.36-3		Feb. 22, 2019		Feb. 22, 2029		2.22		60,000			60,000
Unguaranteed debentures No.37-2		Mar. 15, 2019		Mar. 15, 2029		2.16		70,000			70,000
Unguaranteed debentures No.38-1		Jun. 19, 2019		Jun. 19, 2026		1.73		80,000			80,000
Unguaranteed debentures No.38-2		Jun. 19, 2019		Jun. 19, 2029		1.77		120,000			120,000
Unguaranteed debentures No.39-2		Oct. 15, 2019		Oct. 15, 2029		1.67		40,000			40,000
Unguaranteed debentures No.40-2		Dec. 4, 2019		Dec. 4, 2029		1.87		30,000			30,000
Unguaranteed debentures No.41-2		Jan. 16, 2020		Jan. 16, 2025		1.74		—			100,000
Unguaranteed debentures No.41-3		Jan. 16, 2020		Jan. 16, 2030		1.88		40,000			40,000
Subordinated debentures No.1-1		Feb. 18, 2020		Feb. 18, 2030		2.21		370,000			370,000
Subordinated debentures No.1-2		Feb. 18, 2020		Feb. 18, 2035		2.26		30,000			30,000
Unguaranteed debentures No.42-1		May. 13, 2020		May. 13, 2025		1.59		130,000			130,000
Unguaranteed debentures No.42-2		May. 13, 2020		May. 13, 2030		1.78		70,000			70,000
Unguaranteed debentures No.43-2		Jun. 16, 2020		Jun. 16, 2025		1.44		110,000			110,000
Unguaranteed debentures No.43-3		Jun. 16, 2020		Jun. 16, 2030		1.63		50,000			50,000
Unguaranteed debentures No.44-4		Aug. 11, 2020		Aug. 11, 2027		1.39		20,000			20,000
Unguaranteed debentures No.46-2		Jan. 14, 2021		Jan. 14, 2026		1.43		30,000			30,000
Unguaranteed debentures No.46-3		Jan. 14, 2021		Jan. 14, 2028		1.62		10,000			10,000
Unguaranteed debentures No.46-4		Jan. 14, 2021		Jan. 14, 2031		1.84		100,000			100,000
Unguaranteed debentures No.48-2		Jun. 16, 2022		Jun. 16, 2025		4.27		240,000			240,000
Unguaranteed debentures No.48-3		Jun. 16, 2022		Jun. 16, 2027		4.34		80,000			80,000
Unguaranteed debentures No.48-4		Jun. 16, 2022		Jun. 16, 2032		4.40		95,000			95,000
Unguaranteed debentures No.49-1		Oct. 31, 2024		Oct. 31, 2025		3.31		80,000			80,000
Unguaranteed debentures No.49-2		Oct. 31, 2024		Oct. 31, 2026		3.30		220,000			220,000
Unguaranteed debentures No.49-3		Oct. 31, 2024		Oct. 31, 2027		3.28		100,000			100,000
Unguaranteed debentures No.50-1		Jan. 24, 2025		Jan. 22, 2027		2.92		200,000			—
Unguaranteed debentures No.50-2		Jan. 24, 2025		Jan. 24, 2028		2.92		100,000			—
Unguaranteed debentures No.51-1		Feb. 25, 2025		Feb. 25, 2027		2.86		50,000			—
Unguaranteed debentures No.51-2		Feb. 25, 2025		Feb. 25, 2028		2.92		250,000			—
Unguaranteed debentures No.52-1		Mar. 24, 2025		Mar. 24, 2027		2.85		60,000			—
Unguaranteed debentures No.52-2		Mar. 24, 2025		Mar. 24, 2028		2.87		170,000			—
								3,695,000			2,965,000
				Less: Bond Discounts				(4,218	)		(2,968	)
							W	3,690,782		W	2,962,032

29

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

12.2 Maturities of debentures as of March 31, 2025 and December 31, 2024 are as follows:

March 31, 2025

(In millions of Korean won)

Up to 3 months

3~6 months

6~12 months

1~3 years

Over 3 years

Total

Debentures in Korean won

W

480,000

W

20,000

W

110,000

W

1,940,000

W

1,145,000

W

3,695,000

December 31, 2024

(In millions of Korean won)

Up to 3 months

3~6 months

6~12 months

1~3 years

Over 3 years

Total

Debentures in Korean won

W

100,000

W

480,000

W

100,000

W

1,070,000

W

1,215,000

W

2,965,000

12.3 Changes in debentures based on par value for the three-month periods ended March 31, 2025 and 2024 are as follows:

	2025
(In millions of Korean won)	Beginning		Issue		Repayment			Ending
Debentures in Korean won	W	2,965,000	W	830,000	W	(100,000	)	W	3,695,000
	2024
(In millions of Korean won)	Beginning		Issue		Repayment			Ending
Debentures in Korean won	W	3,880,000	W	—	W	(610,000	)	W	3,270,000

30

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

13. Net Defined Benefit Liabilities (Assets)

13.1 Defined Benefit Plan

The Company operates defined benefit plans which have the following characteristics:

• The Company has the obligation to pay the agreed benefits to all its current and former employees.

• The Company assumes actuarial risk (that benefits will cost more than expected) and investment risk.

The net defined benefit liabilities recognized in the statements of financial position are calculated in accordance with actuarial valuation method using assumptions based on market data and historical data such as discount rate, future salary increase rate, and mortality. Actuarial assumptions may differ from actual results, due to changes in the market conditions, economic trends, and mortality trends.

13.2 Details of the net defined benefit liabilities as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025			December 31, 2024
Present value of defined benefit obligation	W	20,702		W	21,597
Fair value of plan assets		(23,176	)		(24,499	)
Net defined benefit liabilities (assets)	W	(2,474	)	W	(2,902	)

13.3 Details of post-employment benefits recognized in profit or loss for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In millions of Korean won)	2025			2024
Current service cost	W	475		W	449
Net interest expense(income) on net defined benefit liabilities		(27	)		(39	)
Post-employment benefits	W	448		W	410

(*) The gains or losses related to the defined benefit pension plan is fully included in general administrative expenses.

31

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

14. Equity

14.1 Share Capital

14.1.1 Details of share capital as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025		December 31, 2024
Type of share		Ordinary share		Ordinary share
Number of authorized shares		1,000,000,000		1,000,000,000
Par value per share (In Korean won)	W	5,000	W	5,000
Number of issued shares		393,528,423		393,528,423
Share capital *	W	2,090,558	W	2,090,558

* Due to the retirement of shares deducted through retained earnings, it is different from the total par value of the shares issued.

14.1.2 Changes in shares for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In number of shares)	2025			2024
Beginning		373,600,719			378,663,825
Increase		—			5,000,000
Decrease		(5,695,509	)		(900,000	)
Ending		367,905,210			382,763,825

32

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

14.2 Hybrid Securities

Details of hybrid securities classified as equity as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won) Hybrid securities	Issuance date	Maturity	Interest rate (%) as of March 31, 2025		March 31, 2025		December 31, 2024
The 1-2 nd	May. 2, 2019	Perpetual bond		3.44		49,881		49,881
The 2-1st	May. 8, 2020	Perpetual bond		3.30		324,099		324,099
The 2-2 nd	May. 8, 2020	Perpetual bond		3.43		74,812		74,812
The 3-1st	Jul. 14, 2020	Perpetual bond		3.17		369,099		369,099
The 3-2 nd	Jul. 14, 2020	Perpetual bond		3.38		29,922		29,922
The 4-1st	Oct. 20, 2020	Perpetual bond		3.00		433,918		433,918
The 4-2 nd	Oct. 20, 2020	Perpetual bond		3.28		64,843		64,843
The 5-1st	Feb. 19, 2021	Perpetual bond		2.67		419,056		419,056
The 5-2 nd	Feb. 19, 2021	Perpetual bond		2.87		59,862		59,862
The 5-3 rd	Feb. 19, 2021	Perpetual bond		3.28		119,727		119,727
The 6-1st	May. 28, 2021	Perpetual bond		3.20		165,563		165,563
The 6-2 nd	May. 28, 2021	Perpetual bond		3.60		109,708		109,708
The 7-1st	Oct. 8, 2021	Perpetual bond		3.57		208,453		208,453
The 7-2 nd	Oct. 8, 2021	Perpetual bond		3.80		59,834		59,834
The 8-1 st	Feb. 16, 2022	Perpetual bond		4.00		442,955		442,955
The 8-2 nd	Feb. 16, 2022	Perpetual bond		4.30		155,626		155,626
The 9-1 st	May. 12, 2022	Perpetual bond		4.68		478,814		478,814
The 9-2 nd	May. 12, 2022	Perpetual bond		4.97		19,906		19,906
The 10-1 st	Aug. 26, 2022	Perpetual bond		4.90		407,936		407,936
The 10-2 nd	Aug. 26, 2022	Perpetual bond		5.15		70,819		70,819
The 10-3 rd	Aug. 26, 2022	Perpetual bond		5.30		19,944		19,944
The 11-1 st	Feb. 3, 2023	Perpetual bond		4.90		548,666		548,666
The 11-2 nd	Feb. 3, 2023	Perpetual bond		5.03		49,871		49,871
The 12 th	Feb. 28, 2024	Perpetual bond		4.39		399,045		399,045
The 13 th	Jan. 22, 2025	Perpetual bond		4.00		404,013		—
					W	5,486,372	W	5,082,359

The above hybrid securities are early redeemable by the Company after 5 or 7 or 10 years from the issuance date.

33

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

14.3 Capital Surplus

Details of capital surplus as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025		December 31, 2024
Paid-in capital in excess of par value	W	13,190,275	W	13,190,275
Other capital surplus		1,430,121		1,473,579
Gains on sales of treasury shares		90,621		90,621
	W	14,711,017	W	14,754,475

14.4 Accumulated Other Comprehensive Income (Loss)

Details of accumulated other comprehensive income (loss) as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025			December 31, 2024
Remeasurements of net defined benefit liabilities	W	(8,327	)	W	(8,316	)

14.5 Retained Earnings

14.5.1 Details of retained earnings as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025		December 31, 2024
Legal reserves	W	1,436,869	W	1,219,810
Voluntary reserves		982,000		982,000
Regulatory reserve for credit losses		5,411		4,061
Unappropriated retained earnings		3,859,936		2,099,671
	W	6,284,216	W	4,305,542

With respect to the allocation of net profit earned in a fiscal term, the Company must set aside in its legal reserve an amount equal to at least 10% of its profit after tax as reported in the financial statements, each time it pays dividends on its net profits earned until its legal reserve reaches the aggregate amount of its share capital in accordance with Article 53 of the Financial Holding Company Act. The reserve is not available for the payment of cash dividends, but may be transferred to share capital, or used to reduce accumulated deficit.

34

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

14.5.2 Regulatory reserve for credit losses

Measurement and disclosure of regulatory reserve for credit losses are required in accordance with Articles 26 through 28 of the Regulations on Supervision of Financial Holding Companies.

14.5.2.1 Details of regulatory reserve for credit losses as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025		December 31, 2024
Amounts before appropriation	W	5,411	W	4,061
Amounts estimated to be appropriated (reversed)		2,915		1,350
	W	8,326	W	5,411

14.5.2.2 Regulatory reserve for credit losses estimated to be appropriated (reversed) and adjusted profit after provision (reversal) of regulatory reserve for credit losses for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In millions of Korean won, except for per share amounts)	2025		2024
Regulatory reserve for credit losses estimated to be appropriated (reversed)	W	2,915	W	2,663
Adjusted profit after provision (reversal) of regulatory reserve for credit losses 1,2		2,274,044		2,171,886
Adjusted basic earnings per share after provision (reversal) of regulatory reserve for credit losses 1		6,113		5,699
Adjusted diluted earnings per share after provision (reversal) of regulatory reserve for credit losses 1		6,051		5,605

¹ Adjusted profit after provision (reversal) of regulatory reserve for credit losses is not based on Korean IFRS. It is calculated by reflecting provision (reversal) of regulatory reserve for credit losses before tax to the net profit for the period.

² After deducting dividends on hybrid securities.

35

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

14.6 Treasury Shares

Changes in treasury shares for the three-month periods ended March 31, 2025 and 2024 are as follows:

	2025
(In millions of Korean won except for number of shares)	Beginning		Acquisition		Ending
Number of treasury shares *		19,927,704		5,695,509		25,623,213
Carrying amount	W	1,236,060	W	464,114	W	1,700,174

	2024
	Beginning		Acquisition		Disposal			Ending
Number of treasury shares *		24,847,247		900,000		(5,000,000	)		20,747,247
Carrying amount	W	1,165,837	W	65,537	W	(234,600	)	W	996,774

* 5 million treasury shares deposited at the Korea Securities Depository for the exchange of exchangeable bonds were disposed on February 14, 2024, due to the exercise of exchange right.

In accordance with the resolution of the Board of Directors on July 23, 2024, the Company plans to acquire shares worth W 400,000 million of treasury shares through a trust contract by March 4, 2025, and plans to retire the shares on May 15, 2025. Additionally in accordance with the resolution of the Board of Directors on October 24, 2024, the Company plans to acquire shares worth W 100,000 million of treasury shares through a trust contract by April 30, 2025, and plans to retire the shares on May 15, 2025.

Also, in accordance with the resolution of the Board of Directors on February 5, 2025, the Company plans to acquire shares worth W 520,000 million of treasury shares on the Stock Exchange by April 14, 2025, and plans to retire the shares on May 15, 2025.

15. Dividends

The annual dividends to the shareholders of the Company for the year ended December 31, 2024 amounting to W 298,285 million (W 804 per share) were declared at the annual general shareholders’ meeting on March 26, 2025. The financial statements as of March 31, 2025 reflect this dividend payable. Meanwhile, the annual dividends to the shareholders of the Company for the year ended December 31, 2023 and quarterly dividend paid in 2024 were W 587,006 million (W 1,530 per share) and W 899,972 million, respectively.

36

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

16. Net Interest Expense

Details of interest income, interest expense, and net interest expense for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In millions of Korean won)	2025			2024
Interest income
Due from financial institutions	W	1,911		W	3,446
Loans measured at amortized cost		2,433			4,394
Loans measured at fair value through profit or loss		842			702
Others		341			1,275
		5,527			9,817
Interest expense
Borrowings		7,506			2,238
Debentures		21,176			21,293
Others		9			11
		28,691			23,542
Net interest expense	W	(23,164	)	W	(13,725	)

17. Net Fee and Commission Expense

Details of fee and commission income, fee and commission expense, and net fee and commission expense for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In millions of Korean won)	2025			2024
Fee and commission income
Fees earned in Korean won	W	472		W	378
Fee and commission expense
Fees paid in Korean won		2,058			1,337
Fees paid in foreign currency		204			183
		2,262			1,520
Net fee and commission expense	W	(1,790	)	W	(1,142	)

37

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

18. Net Gains or Losses on Financial Instruments at Fair value through Profit or Loss

Net gains or losses on financial instruments at fair value through profit or loss include dividend income, gains or losses arising from changes in fair value, and gains or losses arising from sales and redemptions. Details of net gains or losses on financial assets at fair value through profit or loss for the three-month periods ended March, 31, 2025 and 2024 are as follows:

(In millions of Korean won)	2025		2024
Gains on financial instruments at fair value through profit or loss
Dividend income from financial assets at fair value through profit or loss	W	16,416	W	13,584
Gains on valuation of financial assets at fair value through profit or loss		8,533		2,163
Gains on disposal of financial assets at fair value through profit or loss		502		148
		25,451		15,895
Losses on financial instruments at fair value through profit or loss
Losses on valuation of financial assets at fair value through profit or loss		—		316
		—		316
Net gains (losses) on financial instruments at fair value through profit or loss	W	25,451	W	15,579

38

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

19. Net Other Operating Income and Expenses

Details of other operating income and expenses for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In millions of Korean won)	2025		2024
Other operating income
Dividend income from subsidiaries	W	2,355,586	W	2,243,250
		2,355,586		2,243,250
Net other operating income	W	2,355,586	W	2,243,250

20. General and Administrative Expenses

20.1 Details of general and administrative expenses for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In millions of Korean won)	2025		2024
Expenses related to employee
Employee benefits - salaries	W	8,892	W	8,730
Employee benefits - others		1,003		1,038
Post-employment benefits - defined benefit plans		448		410
Post-employment benefits - defined contribution plans		—		4
Share-based payments		758		4,573
		11,101		14,755
Depreciation and amortization		1,373		1,526
Other general and administrative expenses
Travel		338		89
Communications		116		263
Tax and dues		312		229
Publication		58		47
Rental expense		565		419
Vehicle		20		22
Service fees		5,458		3,876
Advertising		381		421
Training		266		228
Others		2,180		2,312
		9,694		7,906
	W	22,168	W	24,187

39

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

20.2 Share-based Payments

Share-based payments plan for executives and employees of the Company and its subsidiaries as of March 31, 2025 are as follows:

20.2.1 Stock grants linked to long-term performance

(In number of shares)	Grant date	Number of granted shares 1		Vesting conditions 2
KB Financial Group Inc.
Series 38	Nov. 21, 2023		55,547	Services fulfillment, market performance 3 35%, and non-market performance 5 65%
Series 39	Jan. 1, 2024		45,261	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 40	Feb. 1, 2024		511	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 41	Apr. 6, 2024		6,270	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 43	Jan. 1, 2025		31,893	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Deferred grant in 2015			1,063	Satisfied
Deferred grant in 2020			40	Satisfied
Deferred grant in 2022			13,239	Satisfied
Deferred grant in 2023			59,942	Satisfied
Deferred grant in 2024			25,541	Satisfied
			239,307
Kookmin Bank
Series 96	Jan. 1, 2024		214,795	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100% Services fulfillment, market performance 3 30%, and EPS, Asset Quality 6 70%
Series 97	Feb. 1, 2024		2,045	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 98	Apr. 22, 2024		2,959	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 99	Jul. 5, 2024		4,926	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 101	Aug, 24, 2024		4,453	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 102	Jan. 1, 2025		187,943	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100% Services fulfillment, market performance 3 30%, and EPS, Asset Quality 6 70%
Deferred grant in 2022			29,628	Satisfied
Deferred grant in 2023			143,930	Satisfied
Deferred grant in 2024			124,289	Satisfied
			714,968

40

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

20.2.1 Stock grants linked to long-term performance (cont’d)

(In number of shares)	Grant date	Number of granted shares 1		Vesting conditions 2
Other subsidiaries
Stock granted in 2012			160
Stock granted in 2013			219
Stock granted in 2014			1,028
Stock granted in 2015			1,155	Services fulfillment, market performance 3 0~50%, and non-market performance 4 50~100%
Stock granted in 2017			3,955
Stock granted in 2018			11,044
Stock granted in 2019			13,255
Stock granted in 2020			25,783
Stock granted in 2021			19,104
Stock granted in 2022			80,443
Stock granted in 2023			120,170
Stock granted in 2024			424,501
Stock granted in 2025			173,123
			873,940
			1,828,215

¹ Granted shares represent the total number of shares initially granted to executives and employees who have residual shares as of December 31, 2024 (Deferred grants are residual shares vested as of December 31, 2024).

² Executives and employees were given the right of choice about the timing of the deferred payment (after the date of retirement), payment ratio, and payment period. Accordingly, a certain percentage of the granted shares is deferred for up to five years after the date of retirement after the deferred grant has been confirmed.

³ Relative TSR (Total Shareholder Return): [(Fair value at the end of the contract—Fair value at the beginning of the contract) + (Total amount of dividend per share paid during the contract period)] / Fair value at the beginning of the contract

⁴ Performance results of company and employee

⁵ EPS (Earnings Per Share), Asset Quality, HCROI (Human Capital Return On Investment), Non-bank segment profit

⁶ EPS, Asset Quality

The stock grant linked to long-term performance is an incentive plan that sets, on grant date, the maximum number of shares that can be awarded. Actual shares to be granted is determined in accordance with achievement of pre-set performance targets over the vesting period.

41

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

20.2.2 Stock grants linked to short-term performance

(In number of shares)	Estimated number of vested shares *		Vesting conditions
KB Financial Group Inc.
Stock granted in 2015		541	Satisfied
Stock granted in 2016		1,558	Satisfied
Stock granted in 2020		78	Satisfied
Stock granted in 2022		14,653	Satisfied
Stock granted in 2023		27,960	Satisfied
Stock granted in 2024		23,462	Satisfied
Stock granted in 2025		6,015	Proportional to service period
Kookmin Bank
Stock granted in 2021		9,751	Satisfied
Stock granted in 2022		70,221	Satisfied
Stock granted in 2023		136,414	Satisfied
Stock granted in 2024		72,838	Satisfied
Stock granted in 2025		23,915	Proportional to service period
Other subsidiaries
Stock granted in 2015		1,289	Satisfied
Stock granted in 2016		7,290	Satisfied
Stock granted in 2017		20,121	Satisfied
Stock granted in 2018		51,583	Satisfied
Stock granted in 2019		41,130	Satisfied
Stock granted in 2020		50,103	Satisfied
Stock granted in 2021		98,332	Satisfied
Stock granted in 2022		234,765	Satisfied
Stock granted in 2023		420,066	Satisfied
Stock granted in 2024		430,313	Satisfied
Stock granted in 2025		42,484	Proportional to service period
		1,784,882

* Executives and employees were given the right of choice about the timing of the deferred payment (after the date of retirement), payment ratio, and payment period. Accordingly, a certain percentage of the granted shares is deferred for up to five years after the date of retirement after the deferred grant has been confirmed.

Share-based payments arrangement for subsidiaries was transferred to the Company in 2010, and the related compensation cost paid to the executives and employees of subsidiaries is reimbursed by subsidiaries. The accrued expenses for share-based payments as of March 31, 2025 and December 31, 2024, are W 213,202 million and W 295,867 million, respectively, and the receivables to be reimbursed by subsidiaries for the compensation costs as of March 31, 2025 and December 31, 2024, are W 196,035 million and W 270,558 million, respectively. And compensation costs from share-based payments amounting to W 758 million and W 4,573 million were recognized for the three-month periods ended March 31, 2025 and 2024, respectively.

42

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

21. Income Tax Benefit (Expense)

Details of income tax benefit (expense) for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In millions of Korean won)	2025			2024
Income tax payable	W	—		W	—
Changes in deferred tax assets and liabilities		(4,557	)		3,381
Origination and reversal of temporary differences		(4,557	)		3,381
Income tax recognized directly in equity		(4	)		205
Remeasurements of net defined benefit liabilities		(4	)		17
Consideration for exchange right of exchangeable bonds		—			188
Others		(2,829	)		—
Income tax benefit (expense)	W	(7,390	)	W	3,586

22. Earnings per Share

22.1 Basic Earnings per Share

Basic earnings per share is calculated from the earnings attributable to ordinary shares.

22.1.1 Weighted average number of ordinary shares outstanding

(In number of shares)	March 31, 2025			March 31, 2024
Number of issued ordinary shares		393,528,423			403,511,072
Number of treasury shares		(25,623,213	)		(20,747,247	)
Weighted average number of ordinary shares outstanding		372,004,102			381,106,133

22.1.2 Basic earnings per share

(In Korean won and in number of shares)	2025			2024
Profit for the period	W	2,326,592,765,304		W	2,222,618,523,505
Deduction: Dividends on hybrid securities		(49,634,075,000	)		(48,070,325,000	)
Profit attributable to ordinary equity holders (A)		2,276,958,690,304			2,174,548,198,505
Weighted average number of ordinary shares outstanding (B)		372,004,102			381,106,133
Basic earnings per share (A/B)	W	6,121		W	5,706

43

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

22.2 Diluted Earnings per Share

Diluted earnings per share is calculated through increasing the weighted average number of ordinary shares outstanding by the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. The Company has dilutive potential ordinary shares such as stock grants and ordinary share exchange right of exchangeable bonds.

A calculation is done to determine the number of shares that could have been acquired at fair value (determined as the average market share price for the year) based on the monetary value of stock grants. The number of shares calculated above is compared with the number of shares that would have been issued assuming the settlement of stock grants.

Exchangeable bonds are included in potential ordinary shares from the exercisable date of the exchange right, and interest expense after tax for the period is added to profit for diluted earnings per share.

22.2.1 Adjusted profit for diluted earnings per share

(In Korean won)	2025		2024
Profit attributable to the ordinary equity holders *	W	2,276,958,690,304	W	2,174,548,198,505
Adjustment:
Interest expense on exchangeable bonds		—		306,631,690
Adjusted profit for diluted earnings per share	W	2,276,958,690,304	W	2,174,854,830,195

* The amount is after deducting dividends on hybrid securities.

22.2.2 Weighted average number of ordinary shares outstanding for diluted earnings per share

(In number of shares)	2025		2024
Weighted average number of ordinary shares outstanding		372,004,102		381,106,133
Adjustment:
Stock grants		3,835,255		4,036,449
Exchangeable bonds		—		2,417,582
Adjusted weighted average number of ordinary shares outstanding for diluted earnings per share		375,839,357		387,560,164

22.2.3 Diluted earnings per share

(In Korean won and in number of shares)	2025		2024
Adjusted profit for diluted earnings per share	W	2,276,958,690,304	W	2,174,854,830,195
Adjusted weighted average number of ordinary shares outstanding for diluted earnings per share		375,839,357		387,560,164
Diluted earnings per share	W	6,058	W	5,612

44

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

23. Statement of Cash Flows

23.1 Details of cash and cash equivalents as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)	March 31, 2025			December 31, 2024
Due from financial institutions	W	2,439,971		W	398,391
Deduction:
Restricted due from financial institutions		(3	)		(3	)
Due from financial institutions with original maturities over three months		(80,000	)		(80,000	)
		(80,003	)		(80,003	)
	W	2,359,968		W	318,388

23.2 Cash inflows and outflows from income tax, interest, and dividends for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In millions of Korean won)	Activity		2025		2024
Income tax paid		Operating	W	2,589	W	2,139
Interest received		Operating		4,496		6,391
Interest paid		Operating		18,460		35,178
Dividends received		Operating		2,372,119		1,856,884
Dividends paid		Financing		49,634		48,070

24. Contingent Liabilities and Commitments

24.1 Commitments made with financial institutions as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)		March 31, 2025				December 31, 2024
		Amount of commitments		Amount borrowed		Amount of commitments		Amount borrowed
General loan	Hana Bank	W	200,000	W	—	W	200,000	W	—
General loan	Shinhan Bank		200,000		—		200,000		—
General loan	NongHyup Bank		300,000		—		300,000		—

24.2 Other Matters (including litigation)

The Company has no ongoing lawsuits in which it is a defendant as of March 31, 2025.

45

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

25. Related Party Transactions

According to Korean IFRS No.1024, the Company includes subsidiaries and key management personnel (including family members) in the scope of related parties. The Company discloses balances (receivables and payables) and other amounts arising from transactions with related parties in the notes to the financial statements. Refer to Note 9 for details of subsidiaries. Key management personnel include the executives of the Company, their close family members, and the companies where the executives and/or their close family members have control or joint control.

25.1 Details of significant profit or loss arising from transactions with related parties for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In millions of Korean won)

Subsidiaries	Profit or loss	2025		2024
Kookmin Bank	Interest income	W	1,607	W	2,183
	Fee and commission income		294		325
	Net other operating income 1		1,625,587		1,467,896
	General and administrative expenses		4,149		2,641
KB Securities Co., Ltd.	Interest expense		85		—
	Fee and commission income		17		23
	Net gains on financial assets at fair value through profit or loss		10,352		6,821
	Net other operating income 1		280,000		150,000
	General and administrative expenses		319		166
KB Insurance Co., Ltd.	Fee and commission income		18		24
	General and administrative expenses		654		457
	Net other operating income 1		299,982		249,974
KB Kookmin Card Co., Ltd.	Fee and commission income		6		6
	Net other operating income 1		—		185,380
	General and administrative expenses		335		110
	Net non-operating income		1		1
KB Life Insurance Co., Ltd.	Fee and commission income		4		9
	Net other operating income 1		130,000		150,000
	General and administrative expenses		241		327
KB Asset Management Co., Ltd.	Net other operating income 1		20,000		40,000
	General and administrative expenses		42		16
KB Capital Co., Ltd	Interest income		—		1,232
	Fee and commission income		3		3
	Net gains on financial assets at fair value through profit or loss		8,811		8,260
	Net other operating income 1		8		—
	General and administrative expenses		48		35
	Provision (reversal) for credit losses		—		3
KB Real Estate Trust. Co., Ltd.	Interest income		—		662
	Net other operating income 1		4,659		—
	General and administrative expenses		55		—
	Provision (reversal) for credit losses		—		93

46

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

25.1 Details of significant profit or loss arising from transactions with related parties for the three-month periods ended March 31, 2025 and 2024 are as follows: (cont’d)

(In millions of Korean won)

Subsidiaries	Profit or loss	2025	2024
KB Savings Bank Co., Ltd.	Interest income	W944	W1,633
	Net gains (losses) on financial assets at fair value through profit or loss	936	350
KB Investment Co., Ltd.	Interest income	2,433	2,386
	Provision (reversal) for credit losses	(1)	(1)
KB Data Systems Co., Ltd.	General and administrative expenses	169	735

¹ Net other operating income includes dividend income from subsidiaries.

25.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)

Subsidiaries	Assets or liabilities	March 31, 2025		December 31, 2024
Kookmin Bank	Cash and due from financial institutions	W	2,303,679	W	316,781
	Other assets		544,513		468,023
	Other liabilities		56,388		20
	Property and equipment		933		237
KB Securities Co., Ltd.	Cash and due from financial institutions		56,019		—
	Financial assets at fair value through profit or loss		544,384		540,683
	Other assets		92,837		100,494
	Other liabilities		34,238		—
KB Insurance Co., Ltd.	Other assets		139,174		143,520
	Other liabilities		9,251		46
KB Kookmin Card Co., Ltd.	Other assets		89,637		78,634
	Other liabilities		1,373		895
KB Life Insurance Co., Ltd.	Other assets		8,286		14,235
	Other liabilities		102,599		69,132
KB Asset Management Co., Ltd.	Other assets		24,071		25,549
	Other liabilities		42		—
KB Capital Co., Ltd.	Financial assets at fair value through profit or loss		497,424		495,454
	Other assets		58,782		48,285
	Other liabilities		60		11
KB Real Estate Trust Co., Ltd.	Financial assets at fair value through profit or loss		155,116		153,382
	Other assets		3,222		4,431
	Other liabilities		55		—
KB Savings Bank Co., Ltd.	Cash and due from financial institutions		80,000		80,000
	Financial assets at fair value through profit or loss		55,331		53,951
	Other assets		4,148		3,960
	Other liabilities		808		808

47

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

25.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of March 31, 2025 and December 31, 2024 are as follows: (cont’d)

(In millions of Korean won)

Subsidiaries	Assets or liabilities	March 31, 2025		December 31, 2024
KB Investment Co., Ltd.	Loans measured at amortized cost (gross amount)		360,000		360,000
	Allowances for credit losses		946		946
	Other assets		6,494		6,794
	Other liabilities		1,244		1,244
KB Data Systems Co., Ltd.	Property and equipment		—		76
	Intangible assets		371		427
	Other assets		3,671		4,274
	Other liabilities		244		250

25.3 Right-of-use assets and lease liabilities with related parties as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)			March 31, 2025		December 31, 2024
Subsidiary	Kookmin Bank	Right-of-use assets	W	933	W	237

25.4 Credit card commitments provided from related parties as of March 31, 2025 and December 31, 2024 are as follows:

(In millions of Korean won)			March 31, 2025		December 31, 2024
Subsidiary	KB Kookmin Card Co., Ltd.	Lines of credit for credit card	W	3,000	W	3,000

25.5 There were no share transactions with related parties for the three-month periods ended March 31, 2025 and 2024.

25.6 Details of significant lending transactions with related parties for the three-month periods ended March 31, 2025 and 2024 are as follows:

(In millions of Korean won)		2025
		Beginning		Loan		Collection		Ending
Subsidiary	KB Investment Co., Ltd.	W	360,000	W	—	W	—	W	360,000
	KB Savings Bank Co., Ltd. *		70,000		—		—		70,000

48

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

March 31, 2025 and 2024 (Unaudited), and December 31, 2024

25.6 Details of significant lending transactions with related parties for the three-month periods ended March 31, 2025 and 2024 are as follows: (cont’d)

		2024
(In millions of Korean won)		Beginning		Loan		Collection		Ending
Subsidiary	KB Investment Co., Ltd.	W	360,000	W	—	W	—	W	360,000
	KB Capital Co., Ltd.		200,000		—		—		200,000
	KB Savings Bank Co., Ltd. *		70,000		—		—		70,000
	KB Real Estate Trust Co., Ltd.		50,000		35,000		—		85,000

* Par value of subordinated bond issued by KB Savings Bank Co., Ltd. The difference between par value and fair value at the acquisition date was accounted for as investments in subsidiaries.

25.7 Details of compensation to key management personnel for the three-month periods ended March 31, 2025 and 2024 are as follows:

	2025
(In millions of Korean won)	Short-term employee benefits		Post- employment benefits		Share-based payments		Total
Registered directors (executive)	W	425	W	10	W	186	W	621
Registered directors (non-executive)		181		—		—		181
Non-registered directors		1,141		60		572		1,773
	W	1,747	W	70	W	758	W	2,575

	2024
(In millions of Korean won)	Short-term employee benefits		Post- employment benefits		Share-based payments		Total
Registered directors (executive)	W	246	W	—	W	1,121	W	1,367
Registered directors (non-executive)		184		—		—		184
Non-registered directors		1,121		16		3,452		4,589
	W	1,551	W	16	W	4,573	W	6,140

26. Events after the reporting period

According to the resolution of the Board of Directors on April 24, 2025, the quarterly dividend per share of W 912 with dividend record date of May 12, 2025, was declared. The Company’s financial statements as of March 31, 2025, do not reflect this dividend payable.

The Company plans to acquire treasury shares amounting to W 300,000 million on the Stock Exchange and retire those shares by July 24, 2025 pursuant to board resolutions dated April 24, 2025.

49