KB Financial Group Reports Record 1.27 Tln Won in Net Income in Latest Quarter
트위터 페이스북 미투데이
Global News Network
HOME      ABOUT US      NW 기획정보
ARCHIVE      GALLERY      LOGIN
KB Financial Group Reports Record 1.27 Tln Won in Net Income in Latest Quarter
Will open second startup support center to foster innovative companies in Gwanak-gu, Seoul

25(Tue), May, 2021




KB Financial Group Chairman Yoon Jong-kyu. (Photo: KB Financial Group)





KB Financial Group announced its first quarter financial results via online streaming on April 22, 2021.


KB Financial Group netted 1.27 trillion won, the highest-ever quarterly net income since its inception, as a result of efforts to sharpen its competitiveness in key business sectors and the diversification of its business portfolio through M&A deals.


The financial group enjoyed a 74.1 percent year-on-year increase as the group’s core profits steadily grow, centered on net interest and net commission income.


A big improvement was made in operating profit, which fell due to a sharp rise in the volatility of the financial market in the first quarter of last year.







Therefore, it proved stronger fundamentals based on the balanced growth of the group’s banking and non-banking sectors.


“Over the past year, the group’s profit-generating power became more stable and higher, including the meaningful expansion of profit generation across all sectors, securing additional growth momentum in the capital market and insurance businesses, and proving excellent management and proving excellent management capabilities in asset soundness,” a KB Financial Group official said.


“As a result of major affiliates such as securities and insurance increasing their core competitiveness and expanding their profit-generating capabilities, the percentage of the non-banking sector’s net profit in KB Financial Group’s total net profit increased to 48.6 percent in the first quarter in the first quarter.”


This is attributable to the KB Financial Group’s continuous efforts to strengthen the competitiveness of its core business sectors, including securities, brokerage, and the capital market, and by restoring insurance affiliates’ profitability based on an improved loss ratio and expanding the competitiveness of its life insurance business through the acquisition of Prudential Life Insurance.


Through the disclosure of business performances, KB Financial Group expounded the competitiveness of the group’s non-face-to-face channels in response to changes in the financial environment, where the center of financial transactions is shifting to non-face-to-face channels fast.


“KB Financial Group has more than 10 million digital customers which accounted for 44 percent of the group’s total active customers as of the end of 2020. KB Star Banking, the group’s flagship digital platform, currently maintains its leading position by securing eight million monthly active users (MAUs),” said an official in charge of financial affairs at KB Financial Group.


“KB will maximize customer satisfaction by combining -face-to-face and non-face-to-face channels such as providing better financial services with more specialized consulting services and products in the asset management and loan sectors where face-to-face channels are important apart from boosting the competitiveness of our non-face-to-face channels,” he added. “By doing so, we will grow into a better financial group even amidst a change in paradigms in the financial industry of the future.”


Meanwhile, KB Financial Group signed a business agreement with the Gwanak-gu Office and Seoul National University to rev up an ecosystem of venture companies and startups in the Gwanak-gu area with a focus on mutual cooperation to discover and foster promising startups in the Gwanak-gu Office Building on May 3.


On hand at the signing ceremony were KB Kookmin Bank President Huh In, who doubles as President of KB Financial Group’s Digital Innovation Division, Oh Se-jeong, president of Seoul National University and Park Joon-hee, head of Gwanak-gu.


Under this agreement, KB Financial Group will push to establish a second support center, Gwanak KB Innovation HUB, in Sillim-dong, Gwanak-gu of Seoul following a startup collaboration space in Gangnam of Seoul.


Currently, a space for the center was secured and interior work is underway in the space with the goal of opening in June.


Gwanak KB Innovation HUB will support startups by focusing on the development of win-win communities and the establishment of mutual cooperation systems, such as knowledge and research resources sharing through support for startup foundation infrastructure in the region.


Accordingly, Gwanak KB Innovation HUB is planning to select early startups which are less than three-years-old with strong creativity, innovation and growth potential in other various fields as well as in fintech and provide the selected companies with office spaces for free for one year.


It will also focus on offering R&D space, information, and networking opportunities necessary for the growth of startups.




   
Most Popular


기사제보      광고문의      구독신청      번역의뢰      업무제휴      PR대행      보도자료      리소스 센터      Previous Site
Copyright(c) 2013 NewsWorld, All right reserved. / 3f, 214, Dasan-ro, Jung-gu, Seoul, Korea 100-456 / http//www.newsworld.co.kr
If you have any question or suggestion, please cuntact us by email: news5028@hanmail.net or call 82-2-2235-6114 / Fax : 82-2-2235-8864
홈페이지와 콘텐트 저작권은 뉴스월드에 있습니다.