Gov. Zhin Woong-sub of the Financial Supervisory Service (FSS) visited the head office of KB Kookmin Bank in Yeouido, Seoul, on Marcvh 15 to check on customers who were subscribing for Individual Savings Account (ISA).
While inspecting the bank’s head office, the governor said KB Kookmin Bank should prepare for the early subscription of new savings account for customers, leaving its management up to the bank as its profitability and stability are assured, and therefore, an outstanding model portfolio.
Zhin said the ISA charges fees, unlike the financial investment commodity in trusts, to run it and can sustain losses depending on the assets to be included in the commodity later. Therefore, the bank should explain to customers in detail about the ISA commodities so that customers would not have their rights violated.
Joining the FSS governor’s visit were Chairman Yoon Jong-kyoo of KB Financial Group and president of KB Kookmin Bank and former figure skating Olympic champion Kim Yu-na, who sometimes appears in the bank’s ads.
KB Kookmin Bank reported audited consolidated earnings results for the fourth quarter and full year of 2015. For the quarter, the company reported operating revenue of 3,268,372 million won, compared to 4,261,038 million won a year ago. Net operating profit was 233,047 million won, compared to 275,098 million won a year ago. Profit before income tax was 195,752 million won, compared to 206,699 million won a year ago. Profit for the period was 143,434 million won, compared to 147,979 million won a year ago.
Profit attributable to shareholders of the parent company was 143,434 million won, compared to 147,979 million won a year ago. For the year, the company reported operating revenue of 16,367,176 million won, compared to 16,283,978 million won a year ago. Net operating profit was 1,179,981 million won, compared to 1,376,719 million won a year ago. Profit before income tax was 1,381,229 million won compared to 1,360,275 million won a year ago.
Profit for the period was 1,107,238 million won, compared to 1,029,041 million won a year ago. Profit attributable to shareholders of the parent company was 1,107,238 won.
KB Kookmin Bank provides various banking products and financial services to individuals and households, as well as large, small, and medium-sized enterprises. It operates through Corporate Banking, Retail Banking, and Other Activities segments. The company accepts installment savings deposits, time deposits, demand deposits, certificates of deposit, and foreign currency deposits. It also offers personal loans, deposit- backed loans, mortgage loans, and deposit-backed loans, as well as overdraft loans, mortgage and home equity loans, and other consumer loans.
In addition, the company is involved in the investment and trading of debt and equity securities; trading of derivatives; asset securitization transaction services; funding activities; and provision of cash management services comprising inter-account transfers and transfers of funds. Further, it provides investment banking services, such as project financing and financial advisory services for social overhead capital projects, such as highway, port, power, water, and sewage projects, as well as for real estate development projects; structured finance; and financing for mergers and acquisitions.
Additionally, the company is involved in international banking activities, including foreign exchange services and derivatives dealing, import and export-related services, offshore lending, syndicated loans, foreign currency securities investment, and foreign currency funds raising; and offering trustee and custodian services relating to investment trusts and other functions, as well as trust account management services, various bancassurance products, wealth management services, National Housing Fund management services, and Internet and phone banking services.
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, made possible by the comprehensive transfer of the stocks of major subsidiary. As of June 2015, the Group was Korea’s largest and leading provider of a comprehensive range of Financial services, complete with total assets amounting to 431.7 trillion won (Incl. Trusts and AUM(Assets Under Management)) and with the farthest-ranging customer basis and network of branches in Korea. KB Financial Holding’s subsidiaries located 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.
_국민 ISA.jpg)
