KB Financial Group’s 2015 net profit amounted to 1.698 trillion won, up 297.6 billion won or 21.3 percent YoY. Loan issuances rose 2 percent by its banking affiliate, KB Kookmin Bank in the 4th quarter, 2015, showing a healthy operation.
The Q4 net profit amounted to 347.1 billion won for the group, down 16.3 percent YoY, which has been attributed to an increase in the loss provision, totaling 412.8 billion won as the group took a very conservative position on the financial environment for the quarter, which led to a bigger loss provision.
KB Financial Group is making efforts to enhance corporate value by continuous improvement of corporate governance and create a sound and transparent management environment and doing its best to protect and improve the rights and interests of all parties by operating an independent board of directors and an auditing organization with a responsible management system.
KB Financial Group provides matters related to corporate governance, corporate information and IR via its website in real time. It also makes major information public through the Financial Supervisory Service and Korea Exchange to maintain transparency.
Six committees, such as the audit committee; the risk management committee; the evaluation and compensation committee; the non-executive director nominating committee; the audit committee member nominating committee; and the corporate governance committee execute check and balances to executive management.
KB Financial Group has improved management transparency by the non-executive director's evaluation system, executing education about general services of the company to strengthen substantial monitoring capability, and strengthen the advisory function of the management situation of long-term vision and strategy.
Aspiring toward becoming an international leader of finance, particularly in Asia, KB Financial Group has launched a phase-by-phase management strategy. First, the Group will continue to consolidate the basis for becoming a global leader of finance through 2016, developing and honing its key strengths and distinction in core areas of business and enhancing the stability of its business operations. Based on analyses of its management environment, the group has identified four overarching strategy aims strengthening the basis for growth; reinforcing risk management; enhancing business capability and productivity; and strengthening future growth potentials as well as 15 core tasks. The group will regain and consolidate its leadership over the financial market in Korea by 2019 with significant returns on its assets and investment portfolios, and thereby will become ready to predominate the Asian Financial market by 2022.
In response to the diverse changes taking place in the financial environment worldwide, KB Financial Group came into being with the establishment of KB Financial Holding Incorporated on Sept. 29, 2008.
As of June 2015, the group was Korea’s leading provider of a comprehensive range of financial services, complete with total assets amounting to 431.7 trillion won (including trusts and AUM (Assets Under Management)) and with the farthest-ranging customer basis and network of branches in Korea. KB Financial Holding’s subsidiaries in Korea include KB Kookmin Bank; KB Insurance; KB Kookmin Card; KB Investment and Securities; KB Life Insurance; KB Asset Management; KB Capital; KB Savings Bank; KB Real Estate Trust; KB Investment; KB Credit Information; and KB Data systems. The group’s subsidiaries overseas include Kookmin Bank Hong Kong Limited in Hong Kong; Kookmin Bank International Limited in the United Kingdom; Kookmin Bank Cambodia PLC; and Kookmin Bank China Limited.
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