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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2026
Commission File Number: 000-53445
KB Financial Group Inc.
(Translation of registrant’s name into English)
26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul 07331, Korea
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
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Summary of Business Report for Fiscal Year 2025
On March 13, 2026, KB Financial Group Inc. (“KB Financial Group” or the “Group”) filed its business report for the fiscal year ended December 31, 2025 (the “Business Report”) with the Financial Services Commission of Korea and the Korea Exchange. This is a summary of the Business Report translated into English.
Except where indicated otherwise, financial information contained in this summary have been prepared in accordance with the Korean equivalent of International Financial Reporting Standards (“K-IFRS”), which differ in certain important respects from generally accepted accounting principles in the United States.
All references to “KB Financial Group,” “we,” “us” or the “Company” are to KB Financial Group and, unless the context requires otherwise, its subsidiaries. In addition, all references to “Won” or “KRW” in this document are to the currency of the Republic of Korea.
Table of Contents
| 1. | Introduction to the Company |
| 1.1. | Business Purpose |
KB Financial Group is a financial holding company that was established in September 2008. Its main business purpose is to hold shares in companies that are engaged in financial or related services, as well as govern and manage such companies. Its consolidated subsidiaries are primarily engaged in the banking business, as well as the credit card business, the financial investment business, the insurance business and other related businesses.
| 1.2. | History |
| • | September 26, 2008 |
Obtained final approval from the Financial Services Commission to establish a financial holding company
| • | September 29, 2008 |
Establishment of the Company through a comprehensive stock transfer and listing on the New York Stock Exchange
| • | October 10, 2008 |
Listing on the Korea Exchange
| • | October 20, 2008 |
The largest shareholder of the Company changed from the Korean National Pension Service to ING Bank N.V.
| • | October 31, 2008 |
The largest shareholder of the Company changed from ING Bank N.V. to the Korean National Pension Service
| • | May 4, 2009 |
Added Kookmin Bank Cambodia PLC. as a second-tier subsidiary
| • | June 22, 2009 |
Added KB Life Insurance Co., Ltd. (“KB Life Insurance”), formerly a second-tier subsidiary, as a first-tier subsidiary
| • | July 1, 2009 |
Changed the name of KB Venture Capital Co., Ltd. to KB Investment Co., Ltd. (“KB Investment”)
| • | January 22, 2010 |
The largest shareholder of the Company changed from the Korean National Pension Service to ING Bank N.V.
| • | March 2, 2011 |
Added KB Kookmin Card Co., Ltd. (“KB Kookmin Card”) as a first-tier subsidiary following the spin-off of Kookmin Bank’s credit card business unit.
| • | March 14, 2011 |
KB Futures Co., Ltd. was merged into KB Investment & Securities Co., Ltd. (“KB Investment & Securities”)
| • | July 8, 2011 |
The largest shareholder of the Company changed from ING Bank N.V. to the Korean National Pension Service
| • | January 13, 2012 |
Added KB Savings Bank Co., Ltd. (“KB Savings Bank”) as a first-tier subsidiary
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| • | October 10, 2012 |
Added KB Kookmin Bank (China) Ltd. as a second-tier subsidiary
| • | June 20, 2013 |
Acquired the remaining shares of KB Life Insurance, which increased the Company’s shareholding to 100%
| • | September 2, 2013 |
Added Yehansoul Savings Bank as a first-tier subsidiary
| • | January 13, 2014 |
Yehansoul Savings Bank was merged into KB Savings Bank
| • | March 20, 2014 |
Added KB Capital Co., Ltd. (“KB Capital”) as a first-tier subsidiary
| • | June 24, 2015 |
Added KB Insurance Co., Ltd. (“KB Insurance”) as a non-consolidated first-tier subsidiary
| • | November 23, 2015 |
Acquired additional shares of KB Insurance, which increased the Company’s shareholding from 19.47% to 33.29%
| • | May 31, 2016 |
Added Hyundai Securities Co., Ltd. (“Hyundai Securities”) as a non-consolidated first-tier subsidiary
| • | June 21, 2016 |
Disposed of LIG Investment & Securities, Co., Ltd., a second-tier subsidiary
| • | June 28, 2016 |
Acquired treasury shares of Hyundai Securities, which increased the Company’s equity ownership in Hyundai Securities from 22.56% to 29.62%
| • | December 1, 2016 |
Added KB Golden Life Care Co., Ltd. as a second-tier subsidiary
| • | December 30, 2016 |
Merged KB Investment & Securities with and into Hyundai Securities, with Hyundai Securities as the surviving entity, then changed its name to KB Securities Co., Ltd. (“KB Securities”)
| • | February 8, 2017 |
Added KB KOLAO LEASING Co., Ltd. as a second-tier subsidiary
| • | March 8, 2017 |
Added KB Microfinance Myanmar Co., Ltd. as a second-tier subsidiary
| • | July 7, 2017 |
Converted KB Insurance and KB Capital into wholly-owned subsidiaries of the Company through comprehensive stock swaps
| • | September 29, 2017 |
Added KB Asset Management Singapore Pte. Ltd. as a second-tier subsidiary (changed from a second-tier subsidiary of KB Securities to a first-tier subsidiary of KB Asset Management Co., Ltd.)
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| • | October 9, 2017 |
Added KB SECURITIES VIETNAM JOINT STOCK COMPANY (formerly MARITIME SECURITIES INCORPORATION) as a second-tier subsidiary
| • | October 16, 2017 |
Disposed of Hyundai Savings Bank, Co., Ltd., a second-tier subsidiary
| • | December 22, 2017 |
Disposed of Hyundai Asset Management, Co., Ltd., a second-tier subsidiary
| • | July 6, 2018 |
Added KB Daehan Specialized Bank PLC. as a second-tier subsidiary
| • | August 21, 2018 |
Added KBAM Shanghai Advisory Services Co., Ltd. as a second-tier subsidiary
| • | April 10, 2020 |
Added PRASAC Microfinance Institution PLC. as a second-tier subsidiary
| • | May 18, 2020 |
Added PT Sunindo Kookmin Best Finance as a second-tier subsidiary
| • | July 3, 2020 |
Added PT KB Finansia Multi Finance as a second-tier subsidiary
| • | August 31, 2020 |
Added Prudential Life Insurance Company of Korea, Ltd. (“Prudential Life Insurance”) as a first-tier subsidiary
| • | September 2, 2020 |
Added PT Bank Bukopin Tbk as a second-tier subsidiary (renamed PT Bank KB Bukopin, Tbk. on February 8, 2021)
| • | December 16, 2020 |
Added KB FINA JOINT STOCK COMPANY as a second-tier subsidiary
| • | December 23, 2020 |
Added KB Bank Myanmar Co., Ltd. as a second-tier subsidiary
| • | January 29, 2021 |
Added J Fintech Co., Ltd as a second-tier subsidiary (renamed KB J Capital Co., Ltd. on February 16, 2021)
| • | March 2, 2021 |
Added PT KB Data Systems Indonesia as a second-tier subsidiary
| • | October 8, 2021 |
Added KB Healthcare Co., Ltd. as a second-tier subsidiary
| • | February 14, 2022 |
Added PT KB Valbury Sekuritas as a second-tier subsidiary
| • | May 10, 2022 |
Added KB Life Partners Co., Ltd. as a second-tier subsidiary
| • | December 26, 2022 |
Added i-Finance Leasing Plc. as a second-tier subsidiary
| • | December 26, 2022 |
Renamed Prudential Life Insurance Company of Korea, Ltd. to KB Life Insurance Co., Ltd.
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| • | January 1, 2023 |
Merged KB Life Insurance with and into KB Life Insurance Co., Ltd. (former Prudential Life Insurance Company of Korea, Ltd.)
| • | June 30, 2023 |
Withdrew KB Credit Information Co., Ltd. as a first-tier subsidiary and added it as a second-tier subsidiary as it became a subsidiary of KB Kookmin Card Co., Ltd. (a first-tier subsidiary)
| • | August 4, 2023 |
Merged KB Bank Cambodia Plc. with and into PRASAC Microfinance Institution Plc.; renamed the merged entity KB PRASAC BANK PLC. and converted it into a commercial bank
| • | October 5, 2023 |
Transferred KB Golden Life Care Co., Ltd. from being a subsidiary of KB Insurance Co., Ltd. to a subsidiary of KB Life Insurance Co., Ltd.
| • | December 13, 2023 |
Added Teamwink Inc. as a second-tier subsidiary (renamed to KBFintech Co., Ltd. on October 14, 2024)
| • | June 3, 2024 |
Added KB Fund Partners as a second-tier subsidiary following the split-off of Kookmin Bank’s fund services business unit
| • | June 5, 2024 |
Renamed PT Valbury Capital Management to PT KB Valbury Asset Management
| • | December 19, 2024 |
Merged KB Daehan Specialized Bank Plc. with i-Finance Leasing Plc.
| • | February 18, 2025 |
Renamed KB Fina Joint Stock Company to KB Fina Company Limited
| • | August 11, 2025 |
Renamed PT Bank KB Bukopin, Tbk. to PT Bank KB Indonesia, Tbk.
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| 1.3. | Overview of the Business Group |
| (As of December 31, 2025) | ||||||
| Type |
Name of Company |
Controlling Company |
Remarks | |||
| Holding Company |
KB Financial Group | - | Listed | |||
| 1st Tier Subsidiaries |
Kookmin Bank | KB Financial Group | Not listed | |||
| KB Securities Co., Ltd. | KB Financial Group | Not listed | ||||
| KB Insurance Co., Ltd. | KB Financial Group | Not listed | ||||
| KB Kookmin Card Co., Ltd. | KB Financial Group | Not listed | ||||
| KB Life Insurance Co., Ltd. | KB Financial Group | Not listed | ||||
| KB Asset Management Co., Ltd. | KB Financial Group | Not listed | ||||
| KB Capital Co., Ltd. | KB Financial Group | Not listed | ||||
| KB Real Estate Trust Co., Ltd. | KB Financial Group | Not listed | ||||
| KB Savings Bank Co., Ltd. | KB Financial Group | Not listed | ||||
| KB Investment Co., Ltd. | KB Financial Group | Not listed | ||||
| KB Data Systems Co., Ltd. | KB Financial Group | Not listed | ||||
| 2nd Tier Subsidiaries |
PT Bank KB Indonesia, Tbk.(1) | Kookmin Bank | Listed (Overseas) | |||
| Kookmin Bank (China) Limited | Kookmin Bank | Not listed (Overseas) | ||||
| KB Microfinance Myanmar Co., Ltd. | Kookmin Bank | Not listed (Overseas) | ||||
| KB Bank Myanmar Co., Ltd. | Kookmin Bank | Not listed (Overseas) | ||||
| KB PRASAC BANK PLC | Kookmin Bank | Not listed (Overseas) | ||||
| KB Fund Partners | Kookmin Bank | Not listed | ||||
| KBFG Securities America Inc. | KB Securities | Not listed (Overseas) | ||||
| KB Securities Hong Kong Ltd. | KB Securities | Not listed (Overseas) | ||||
| KB Securities Vietnam Joint Stock Company | KB Securities | Not listed (Overseas) | ||||
| KB-TS Technology Venture Private Equity Fund | KB Securities | Not listed | ||||
| KB-Stonebridge Secondary Private Equity Fund | KB Securities | Not listed | ||||
| KB-SPROTT Renewable Private Equity Fund I | KB Securities | Not listed | ||||
| KB-SP Private Equity Fund IV. | KB Securities | Not listed | ||||
| KB-NAU Special Situation Corporate Restructuring Private Equity Fund | KB Securities | Not listed | ||||
| U-KB Credit No.1 Private Equity I | KB Securities | Not listed | ||||
| KB-SBI Global Strategic Capital Fund | KB Securities | Not listed | ||||
| KB FINA Company Limited | KB Securities | Not listed (Overseas) | ||||
| PT KB Valbury Sekuritas | KB Securities | Not listed (Overseas) | ||||
| KB-LB Middle Market Enterprises Innovation Private Equity Fund |
KB Securities | Not listed | ||||
| KB-IMM New Star Real Estate Private Fund I | KB Securities | Not listed | ||||
| KB-Novus Genesis Private Equity Fund | KB Securities | Not listed | ||||
| KB-IMM New Star Real Estate Private Fund II | KB Securities | Not listed | ||||
| KB Claims Survey & Adjusting Co., Ltd. | KB Insurance | Not listed | ||||
| KB Sonbo Customer & Service | KB Insurance | Not listed | ||||
| Leading Insurance Services, Inc | KB Insurance | Not listed (Overseas) | ||||
| KBFG Insurance (China) Co., Ltd | KB Insurance | Not listed (Overseas) | ||||
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| PT. KB Insurance Indonesia | KB Insurance | Not listed (Overseas) | ||||
| KB Healthcare Co., Ltd. | KB Insurance | Not listed | ||||
| KB Credit Information Co., Ltd. | KB Kookmin Card | Not listed | ||||
| KB Daehan Specialized Bank Plc. | KB Kookmin Card | Not listed (Overseas) | ||||
| PT KB Finansia Multi Finance | KB Kookmin Card | Not listed (Overseas) | ||||
| KB J Capital Co., Ltd | KB Kookmin Card | Not listed (Overseas) | ||||
| KB Life Partners Co., Ltd | KB Life Insurance | Not listed | ||||
| KB Golden Life Care Co., Ltd. | KB Life Insurance | Not listed | ||||
| KB Asset Management Singapore Pte. Ltd. | KB Asset Management | Not listed (Overseas) | ||||
| KBAM Shanghai Advisory Services Co., Ltd. | KB Asset Management | Not listed (Overseas) | ||||
| PT KB Valbury Asset Management | KB Asset Management | Not listed (Overseas) | ||||
| KB Co-investment 1st Private Equity Fund |
KB Asset Management | Not listed | ||||
| KB Mezzanine Capital 4th Private Equity Fund | KB Asset Management | Not listed | ||||
| KB KOLAO LEASING Co., Ltd | KB Capital | Not listed (Overseas) | ||||
| PT. Sunindo Kookmin Best Finance | KB Capital | Not listed (Overseas) | ||||
| KBFintech Inc. | KB Capital | Not listed | ||||
| FineKB Private Equity Fund No.1 | KB Investment | Not listed | ||||
| KB Bio Global Expansion Private Equity Fund No.1 | KB Investment | Not listed | ||||
| KB-Badgers Future Mobility ESG Fund I | KB Investment | Not listed | ||||
| FineKB Private Equity Fund No.2 | KB Investment | Not listed | ||||
| PT KB Data Systems Indonesia | KB Data Systems | Not listed (Overseas) | ||||
| 3rd Tier Subsidiaries |
PT KB Bukopin Finance | PT Bank KB Indonesia, Tbk. | Not listed (Overseas) | |||
| PT Bank KB Bukopin Syariah | PT Bank KB Indonesia, Tbk. | Not listed (Overseas) | ||||
| Mangrove Master Fund | KB Asset Management Singapore Pte. Ltd. | Not listed (Overseas) | ||||
| Mangrove Feeder Fund | KB Asset Management Singapore Pte. Ltd. | Not listed (Overseas) | ||||
| Notes: (1) | PT Bank KB Bukopin, Tbk. changed its name to PT Bank KB Indonesia, Tbk. on August 11, 2025. |
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| 1.4. | Capital Structure |
| 1.4.1. | Common Shares |
Changes in Capital
| (As of December 31, 2025) | (Unit: Won, shares) | |||||||||||||||
| Date |
Type |
Number of Shares Issued or Cancelled |
Par Value | Price | Remarks | |||||||||||
| September 29, 2008 |
Common Stock | 356,351,693 | 5,000 | 48,444 | Establishment of the Company | |||||||||||
| September 2, 2009 |
Common Stock | 30,000,000 | 5,000 | 37,250 | % increase in number of common shares: 8.41865% | |||||||||||
| October 19, 2016 |
Common Stock | 31,759,844 | 5,000 | 35,474 | % increase in number of common shares: 8.22045% | |||||||||||
| December 12, 2019 |
Common Stock | 2,303,617 | 5,000 | — | Share Cancellation(1) | |||||||||||
| February 14, 2022 |
Common Stock | 3,455,426 | 5,000 | — | Share Cancellation(1) | |||||||||||
| August 1, 2022 |
Common Stock | 3,455,426 | 5,000 | — | Share Cancellation(1) | |||||||||||
| April 4, 2023 |
Common Stock | 5,385,996 | 5,000 | — | Share Cancellation(1) | |||||||||||
| August 14, 2024 |
Common Stock | 9,982,649 | 5,000 | — | Share Cancellation(1) | |||||||||||
| May 15, 2025 |
Common Stock | 12,066,320 | 5,000 | — | Share Cancellation(1) | |||||||||||
| Note: (1) | The cancelled shares constituted treasury shares acquired pursuant to a resolution of the board of directors of the Company within the limits of profit available for dividend payment, and as such, there was no change in paid-in capital. |
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Number of Shares
| (As of December 31, 2025) | (Unit: shares) | |||||||||||||
| Type | ||||||||||||||
| Common Shares | Preferred Shares | Total | Remarks | |||||||||||
| Shares Authorized for Issuance |
1,000,000,000 | — | 1,000,000,000 | As specified in the Articles of Incorporation | ||||||||||
| Total Shares Issued (A) |
418,111,537 | — | 418,111,537 | — | ||||||||||
| Decrease in Number of Shares (B) |
36,649,434 | — | 36,649,434 | — | ||||||||||
| 1. Capital Reduction |
— | — | — | — | ||||||||||
| 2. Cancellation |
36,649,434 | — | 36,649,434 | Cancellation of Treasury Shares | ||||||||||
| 3. Redemption |
— | — | — | — | ||||||||||
| 4. Other |
— | — | — | — | ||||||||||
| Shares Issued as of December 31, 2025 (C=A-B) |
381,462,103 | — | 381,462,103 | — | ||||||||||
| Treasury Shares (D) |
22,874,381 | — | 22,874,381 | — | ||||||||||
| Shares Outstanding (C-D) |
358,587,722 | — | 358,587,722 | — | ||||||||||
| Treasury Share Holding Ratio |
6.0 | % | — | 6.0 | % | — | ||||||||
| Notes: (1) | The 36,649,434 cancelled shares above are within the limits of profit available for dividend payment, and as such, there will be no change in paid-in capital although the total number of issued shares will decrease. |
1.4.2. Voting Rights
| (As of December 31, 2025) | (Unit: shares) | |||||||
| Items |
Number of Shares | Notes | ||||||
| Total number of issued shares |
Common shares | 381,462,103 | — | |||||
| Preferred shares | — | — | ||||||
| Shares without voting rights |
Common shares | 22,874,381 | ||||||
| Preferred shares | — | — | ||||||
| Shares for which voting rights cannot be exercised pursuant to the Articles of Incorporation |
— | — | — | |||||
| Shares for which voting rights are restricted under relevant laws and regulations |
— | — | — | |||||
| Shares with restored voting rights |
— | — | — | |||||
| Total shares for which voting rights may be exercised |
Common shares | 358,587,722 | — | |||||
| Preferred shares | — | — | ||||||
| Notes: (1) | On April 24, 2025, the board of directors of the Company resolved to acquire and cancel certain of the Company’s treasury shares. Pursuant to such resolution, the Company commenced the acquisition of treasury shares on April 28, 2025, and completed such acquisition on June 30, 2025, acquiring a total of 3,047,395 treasury shares. The Company canceled the acquired treasury shares on January 15, 2026. For more information, please refer to the Company’s report on Form 6-K furnished to the Securities and Exchange Commission on June 30, 2025. |
| (2) | On July 24, 2025, the board of directors of the Company resolved to acquire and cancel certain of the Company’s treasury shares. Pursuant to such resolution, the Company commenced the acquisition of treasury shares on July 25, 2025, and completed such acquisition on December 26, 2025 acquiring a total of 5,564,253 treasury shares. The Company canceled the acquired treasury shares on January 15, 2026. For more information, please refer to the Company’s report on Form 6-K furnished to the Securities and Exchange Commission on January 9, 2026. |
| (3) | On February 5, 2026, the board of directors of the Company resolved to acquire and cancel certain of the Company’s treasury shares. Pursuant to such resolution, the Company commenced the acquisition of treasury shares on February 6, 2025. Such treasury shares are scheduled to be cancelled upon completion of the acquisition. [Please note that these shares are not included in the number of “Shares without voting rights” as of December 31, 2025 above.] |
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| 1.5. | Dividends |
On October 24, 2024, KB Financial Group disclosed a detailed plan to enhance corporate value titled “KB Financial Group’s Sustainable Value-up Plan,” which includes information on shareholder returns and dividends. The key details of the plan are as outlined below (the full version of the plan can be accessed on KB Financial Group’s website at www.kbfg.com).
The Company’s goal is to maintain a target ROE of 10% or above, as it strives to improve profitability by enhancing its RoRWA, thereby strengthening its intrinsic corporate value.
The Company also seeks to maintain a target CET1 ratio of 13% or above. It aims to carefully manage its RWA growth rate by taking capital efficiency and profitability into consideration with the goal of maintaining a CET1 ratio in the range of mid-13% throughout the year.
The Company plans to execute its shareholder return policy in two phases. In the first phase, it will aim to utilize the capital in such amount that is equivalent to the amount exceeding 13% of its CET1 ratio as of the end of the previous year for the payment of shareholder returns in the following year. These returns will be supported through quarterly cash dividends (equitably distributed on a total annual basis) and through share buybacks and cancellations. In the second phase, the Company will aim to utilize the capital in such amount that is equivalent to the amount exceeding 13.5% of its CET1 ratio in the second half of the year to pay for additional shareholder returns. These returns, which will be made based on profits accumulated throughout the year, will be executed through share buybacks and cancellations
These goals and expectations are subject to adjustments based on economic uncertainties, regulatory considerations, capital ratio projections, and the Company’s strategic objectives, including potential inorganic growth opportunities.
KB Financial Group’s progress report on its Sustainable Value-up Plan is available on its website (www.kbfg.com).
1.5.1. Dividend Confirmation and Record Date Schedule
| Items |
Fiscal Year-End |
Dividend Payment Status |
Dividend Amount Confirmation Date |
Record Date | ||||
| Quarterly Dividend | March 2023 | Yes | April 27, 2023 | March 31, 2023 | ||||
| Quarterly Dividend | June 2023 | Yes | July 25, 2023 | June 30, 2023 | ||||
| Quarterly Dividend | September 2023 | Yes | October 24, 2023 | September 30, 2023 | ||||
| Annual Dividend | December 2023 | Yes | March 22, 2024 | February 29, 2024 | ||||
| Quarterly Dividend | March 2024 | Yes | April 25, 2024 | March 31, 2024 | ||||
| Quarterly Dividend | June 2024 | Yes | July 23, 2024 | June 30, 2024 | ||||
| Quarterly Dividend | September 2024 | Yes | October 24, 2024 | September 30, 2024 | ||||
| Annual Dividend | December 2024 | Yes | March 26, 2025 | February 28, 2025 | ||||
| Quarterly Dividend | March 2025 | Yes | May 12, 2025 | May 12, 2025 | ||||
| Quarterly Dividend | June 2025 | Yes | August 11, 2025 | August 11, 2025 | ||||
| Quarterly Dividend | September 2025 | Yes | November 14, 2025 | November 14, 2025 | ||||
| Annual Dividend | December 2025 | Yes | March 26, 2026 | February 27, 2026 |
| Notes: (1) | The dividend amount confirmation dates refer to the date at which both the resolution of the relevant body (the Annual General Meeting of Shareholders or the Board of Directors) and the dividend record date have occurred. |
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| (2) | With respect to annual dividends, the record date was decided through a resolution of the Board of Directors and announced two weeks in advance. With respect to quarterly dividends: (i) following an amendment to the Articles of Incorporation on March 26, 2025, the record date was decided through a resolution of the Board of Directors within 45 days of the end of the quarter and announced two weeks in advance; and (ii) prior to the amendment of the Articles of Incorporation, the record date was designated to be the end of March, June and September. |
| (3) | The 2025 annual dividend is subject to change based on the approval process at the Annual General Meeting of Shareholders. |
1.5.2. Key Dividend Indicators
| (Unit: in millions of Won, except per share amounts and percentages) | ||||||||||||||||
| Items |
January 1, 2025 to December 31, 2025(1) |
January 1, 2024 to December 31, 2024(2) |
January 1, 2023 to December 31, 2023(3) |
|||||||||||||
| Par value per share (Won) |
|
5,000 | 5,000 | 5,000 | ||||||||||||
| (Consolidated) Net income |
|
5,833,162 | 5,078,221 | 4,594,835 | ||||||||||||
| (Consolidated) Earnings per share (Won) |
|
15,410 | 12,880 | 11,483 | ||||||||||||
| Total cash dividends |
|
1,577,774 | 1,198,257 | 1,173,937 | ||||||||||||
| Total stock dividends |
|
— | — | — | ||||||||||||
| (Consolidated) Cash dividend payout ratio (%) |
|
27.0 | 23.6 | 25.5 | ||||||||||||
| Cash dividend yield (%) |
Common shares | 3.2 | 3.5 | 4.9 | ||||||||||||
| — | — | — | — | |||||||||||||
| Stock dividend yield (%) |
Common shares | — | — | — | ||||||||||||
| — | — | — | — | |||||||||||||
| Cash dividend per share (Won) |
Common shares | 4,367 | 3,174 | 3,060 | ||||||||||||
| — | — | — | — | |||||||||||||
| Stock dividend per share |
Common shares | — | — | — | ||||||||||||
| — | — | — | — | |||||||||||||
| Notes: |
(1) | Includes a quarterly dividend amount of Won 334,339 million (Won 912 per common share) in the first quarter of fiscal year 2025, a quarterly dividend amount of Won 334,652 million (Won 920 per common share) in the second quarter of fiscal year 2025, a quarterly dividend amount of Won 335,016 million (Won 930 per common share) in the third quarter of fiscal year 2025, and an annual dividend amount of Won 573,768 million (Won 1,605 per common share) for fiscal year 2025. |
| (2) | Includes a quarterly dividend amount of Won 300,087 million (Won 784 per common share) in the first quarter of fiscal year 2024, a quarterly dividend amount of Won 299,999 million (Won 791 per common share) in the second quarter of fiscal year 2024, a quarterly dividend amount of Won 299,886 million (Won 795 per common share) in the third quarter of fiscal year 2024, and an annual dividend amount of Won 298,285 million (Won 804 per common share) for fiscal year 2024. |
| (3) | Includes a quarterly dividend amount of Won 195,967 million (Won 510 per common share) in the first quarter of fiscal year 2023, a quarterly dividend amount of Won 195,967 million (Won 510 per common share) in the second quarter of fiscal year 2023, a quarterly dividend amount of Won 194,998 million (Won 510 per common share) in the third quarter of fiscal year 2023, and an annual dividend amount of Won 587,006 million (Won 1,530 per common share) for fiscal year 2023. |
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| 1.6. | Amendments to the Articles of Incorporation |
The Company’s Articles of Incorporation were most recently amended on March 26, 2025.
| Date |
Shareholder meeting through which the |
Major changes |
Reason for Change | |||
| March 24, 2023 | Annual General Meeting of Shareholders for Fiscal Year 2022 | Establishment of: (i) the basis for determining the record date for the payment of dividends through a resolution of the Board of Directors, and (ii) an equal dividend payment policy with respect to shares in the same class, through the amendment of articles 10, 11, 15, 16, 17, 18, 19, 20, 49, 59, and 60 | Establishment of the basis for determining the record date for the payment of dividends through a resolution of the Board of Directors | |||
| March 26, 2025 | Annual General Meeting of Shareholders for Fiscal Year 2024 | (i) Additional items designated as matters to be determined through a resolution of the Board of Directors, (ii) the establishment of an internal control committee within the Board of Directors, and (iii) allowing the determination of record dates for quarterly dividends through a resolution of the Board of Directors, through the amendment of articles 14, 20-2, 44, 48, 51, 52, 56, 59 and 60. | Establishment of an internal control committee in accordance with amendments to the Act on Corporate Governance of Financial Companies, and the establishment of a basis for determining the record date for quarterly dividends through a resolution of the Board of Directors in accordance with amendments to the Financial Investment Services and Capital Markets Act. | |||
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| 2. | Business |
| 2.1. | Results of Operations |
| (Unit: in millions of Won) | ||||||||||||
| For the year ended December 31, 2025 |
For the year ended December 31, 2024 |
For the year ended December 31, 2023 |
||||||||||
| Net interest income |
13,073,093 | 12,826,714 | 12,180,860 | |||||||||
| Interest income |
29,156,100 | 30,491,385 | 29,142,024 | |||||||||
| Interest expense |
(16,083,007 | ) | (17,664,671 | ) | (16,961,164 | ) | ||||||
| Net fee and commission income |
4,098,287 | 3,849,627 | 3,673,524 | |||||||||
| Fee and commission income |
5,773,521 | 5,481,843 | 5,368,074 | |||||||||
| Fee and commission expense |
(1,675,234 | ) | (1,632,216 | ) | (1,694,550 | ) | ||||||
| Insurance service result |
1,303,373 | 1,649,761 | 1,446,852 | |||||||||
| Insurance income |
12,376,546 | 11,456,191 | 11,005,471 | |||||||||
| Insurance expense |
(11,073,173 | ) | (9,806,430 | ) | (9,558,619 | ) | ||||||
| Net gains on financial assets/liabilities at fair value through profit or loss |
3,380,205 | 1,012,081 | 2,163,065 | |||||||||
| Other insurance finance expenses |
(1,026,721 | ) | (437,001 | ) | (572,476 | ) | ||||||
| Net other operating expenses |
(2,883,075 | ) | (1,873,011 | ) | (2,712,989 | ) | ||||||
| General and administrative expenses |
(7,064,573 | ) | (6,938,624 | ) | (6,647,406 | ) | ||||||
| Operating profit before provision for credit losses |
10,880,589 | 10,089,547 | 9,531,430 | |||||||||
| Provision for credit losses |
(2,362,878 | ) | (2,044,286 | ) | (3,146,409 | ) | ||||||
| Net operating profit |
8,517,711 | 8,045,261 | 6,385,021 | |||||||||
Notes: (1) Based on K-IFRS (on a consolidated basis).
| (2) | KB Financial Group’s results of operations for the year ended December 31, 2023 above have been adjusted retroactively to reflect the Financial Supervisory Service’s responses to certain accounting inquiries regarding the application of K-IFRS 1117 (Insurance Contracts). |
Table of Contents
| 2.2. | Sources and Uses of Funds |
2.2.1. Sources of Funds
| (Unit: in millions of Won) | ||||||||||||||||||||||||||||||||||||||
| For the year ended December 31, 2025 |
For the year ended December 31, 2024 |
For the year ended December 31, 2023 |
||||||||||||||||||||||||||||||||||||
| Average Balance |
Interest Rate (%) |
Ratio (%) |
Average Balance |
Interest Rate (%) |
Ratio (%) |
Average Balance |
Interest Rate (%) |
Ratio (%) |
||||||||||||||||||||||||||||||
| Won Currency |
Deposits |
375,826,777 | 2.07 | 48.43 | 359,346,604 | 2.45 | 48.87 | 337,478,959 | 2.53 | 48.52 | ||||||||||||||||||||||||||||
| Certificate of deposit |
10,813,731 | 2.99 | 1.39 | 11,148,293 | 3.84 | 1.52 | 10,417,992 | 4.07 | 1.50 | |||||||||||||||||||||||||||||
| Borrowings |
35,428,675 | 2.67 | 4.57 | 32,774,664 | 3.47 | 4.46 | 32,807,456 | 3.38 | 4.72 | |||||||||||||||||||||||||||||
| Call money |
1,885,958 | 2.65 | 0.24 | 1,747,858 | 3.43 | 0.24 | 1,384,033 | 3.52 | 0.20 | |||||||||||||||||||||||||||||
| Debentures |
61,625,699 | 3.50 | 7.94 | 58,497,966 | 3.67 | 7.96 | 56,245,329 | 3.34 | 8.09 | |||||||||||||||||||||||||||||
| Others |
28,701,227 | 3.23 | 3.70 | 24,034,767 | 4.09 | 3.26 | 21,767,083 | 4.49 | 3.13 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Subtotal |
514,282,067 | 2.37 | 66.27 | 487,550,152 | 2.78 | 66.31 | 460,100,852 | 2.82 | 66.16 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Foreign Currency |
Deposits |
40,646,841 | 3.34 | 5.24 | 37,798,747 | 4.12 | 5.14 | 35,675,306 | 3.97 | 5.13 | ||||||||||||||||||||||||||||
| Borrowings |
17,858,282 | 3.77 | 2.30 | 18,638,964 | 4.60 | 2.54 | 21,094,988 | 4.3 | 3.03 | |||||||||||||||||||||||||||||
| Call money |
2,007,760 | 4.61 | 0.26 | 1,796,999 | 5.16 | 0.24 | 1,348,423 | 4.76 | 0.19 | |||||||||||||||||||||||||||||
| Debentures |
15,507,931 | 3.11 | 2.00 | 14,573,073 | 3.29 | 1.98 | 12,884,157 | 3.31 | 1.85 | |||||||||||||||||||||||||||||
| Others |
1,558,313 | 3.83 | 0.20 | 1,166,042 | 4.38 | 0.16 | 1,067,253 | 3.51 | 0.15 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Subtotal |
77,579,127 | 3.44 | 10.00 | 73,973,825 | 4.11 | 10.06 | 72,070,127 | 3.96 | 10.35 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Others | Total shareholders’ equity |
61,917,273 | — | 7.98 | 59,062,845 | — | 8.03 | 56,740,649 | — | 8.16 | ||||||||||||||||||||||||||||
| Allowances |
966,209 | — | 0.12 | 1,530,852 | — | 0.21 | 1,055,315 | — | 0.15 | |||||||||||||||||||||||||||||
| Others |
121,265,897 | — | 15.63 | 113,145,013 | — | 15.39 | 105,610,633 | — | 15.18 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Subtotal |
184,149,379 | — | 23.73 | 173,738,710 | — | 23.63 | 163,406,597 | — | 23.49 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Total |
776,010,573 | — | 100.00 | 735,262,687 | — | 100.00 | 695,577,576 | — | 100.00 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Notes: (1) Based on K-IFRS (on a consolidated basis).
| (2) | The figures for the year ended December 31, 2023 above have been adjusted retroactively to reflect the Financial Supervisory Service’s responses to certain accounting inquiries regarding the application of K-IFRS 1117 (Insurance Contracts). |
Table of Contents
2.2.2. Uses of Funds
| (Unit: in millions of Won) | ||||||||||||||||||||||||||||||||||||||
| For the year ended December 31, 2025 |
For the year ended December 31, 2024 |
For the year ended December 31, 2023 |
||||||||||||||||||||||||||||||||||||
| Average Balance |
Interest Rate (%) |
Ratio (%) |
Average Balance |
Interest Rate (%) |
Ratio (%) |
Average Balance |
Interest Rate (%) |
Ratio (%) |
||||||||||||||||||||||||||||||
| Won Currency |
Due from banks | 16,153,833 | 0.63 | 2.08 | 15,397,433 | 0.83 | 2.09 | 14,595,696 | 1.04 | 2.10 | ||||||||||||||||||||||||||||
| Securities | 191,925,827 | 2.54 | 24.73 | 180,330,525 | 3.22 | 24.53 | 166,163,329 | 3.27 | 23.89 | |||||||||||||||||||||||||||||
| Loans | 410,776,360 | 4.19 | 52.93 | 390,097,807 | 4.67 | 53.06 | 369,004,854 | 4.82 | 53.05 | |||||||||||||||||||||||||||||
| Guarantee payments under payment guarantee |
8,879 | 1.44 | — | 5,835 | 0.99 | — | 5,114 | 0.81 | — | |||||||||||||||||||||||||||||
| Call loan |
193,442 | 2.70 | 0.02 | 264,716 | 3.56 | 0.04 | 286,735 | 3.62 | 0.04 | |||||||||||||||||||||||||||||
| Private placement corporate bonds |
1,595,705 | 4.56 | 0.21 | 1,127,090 | 5.79 | 0.15 | 1,161,338 | 3.08 | 0.17 | |||||||||||||||||||||||||||||
| Credit cards | 23,257,459 | 7.79 | 3.00 | 23,320,536 | 8.12 | 3.17 | 22,738,818 | 7.95 | 3.27 | |||||||||||||||||||||||||||||
| Others | 4,663,752 | 15.62 | 0.61 | 3,829,387 | 17.76 | 0.53 | 3,235,831 | 18.40 | 0.47 | |||||||||||||||||||||||||||||
| Allowance | (4,232,385 | ) | — | (0.55 | ) | (4,193,334 | ) | — | (0.57 | ) | (3,559,486 | ) | — | (0.51 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Subtotal |
644,342,872 | 3.85 | 83.03 | 610,179,995 | 4.39 | 83.00 | 573,632,229 | 4.51 | 82.48 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Foreign Currency |
Due from banks |
10,736,415 | 2.44 | 1.38 | 9,494,397 | 2.92 | 1.29 | 8,868,559 | 2.39 | 1.27 | ||||||||||||||||||||||||||||
| Securities | 25,475,873 | 5.55 | 3.28 | 23,085,246 | 5.60 | 3.14 | 22,373,470 | 4.81 | 3.22 | |||||||||||||||||||||||||||||
| Loans |
37,399,936 | 6.97 | 4.82 | 37,007,504 | 7.60 | 5.03 | 36,723,273 | 7.48 | 5.28 | |||||||||||||||||||||||||||||
| Call loan |
6,541,166 | 4.31 | 0.84 | 6,018,342 | 5.33 | 0.82 | 6,393,291 | 5.19 | 0.92 | |||||||||||||||||||||||||||||
| Bills bought |
1,837,372 | 4.73 | 0.24 | 1,979,563 | 5.52 | 0.27 | 2,047,390 | 5.58 | 0.29 | |||||||||||||||||||||||||||||
| Allowance |
(1,675,021 | ) | — | (0.22 | ) | (1,515,396 | ) | — | (0.21 | ) | (1,319,579 | ) | — | (0.19 | ) | |||||||||||||||||||||||
| Others |
2,571,127 | — | 0.34 | 2,346,259 | — | 0.32 | 2,742,464 | — | 0.39 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Subtotal |
82,886,868 | 5.71 | 10.68 | 78,415,915 | 6.23 | 10.66 | 77,828,868 | 5.84 | 11.18 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Others |
Cash |
1,466,760 | — | 0.19 | 1,576,791 | — | 0.21 | 1,681,170 | — | 0.24 | ||||||||||||||||||||||||||||
| Fixed assets held for business |
9,107,641 | — | 1.17 | 9,391,370 | — | 1.28 | 8,788,637 | — | 1.26 | |||||||||||||||||||||||||||||
| Others |
38,206,432 | — | 4.93 | 35,698,616 | — | 4.85 | 33,646,672 | — | 4.84 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Subtotal |
48,780,833 | — | 6.29 | 46,666,777 | — | 6.34 | 44,116,479 | — | 6.34 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
| Total |
776,010,573 | — | 100.00 | 735,262,687 | — | 100.00 | 695,577,576 | — | 100.00 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Notes: (1) Based on K-IFRS (on a consolidated basis).
| (2) | The figures for the year ended December 31, 2023 above have been adjusted retroactively to reflect the Financial Supervisory Service’s responses to certain accounting inquiries regarding the application of K-IFRS 1117 (Insurance Contracts). |
Table of Contents
2.3. Other Information to Consider in Making an Investment Decision
2.3.1. Capital Adequacy
| KB Financial Group | (Unit: in billions of Won, except percentages) | |||||||||||
| As of December 31, 2025 | As of December 31, 2024 | As of December 31, 2023 | ||||||||||
| Total capital (A) |
57,824 | 56,849 | 53,744 | |||||||||
| Risk-weighted assets (B) |
356,996 | 345,981 | 321,319 | |||||||||
| BIS ratio (A/B) |
16.20% | 16.43% | 16.73% | |||||||||
| Notes: | (1) Calculated in accordance with Basel III. |
| Kookmin Bank | (Unit: in billions of Won, except percentages) | |||||||||||
| As of December 31, 2025 | As of December 31, 2024 | As of December 31, 2023 | ||||||||||
| Total capital (A) |
41,605 | 40,574 | 39,040 | |||||||||
| Risk-weighted assets (B) |
240,740 | 234,436 | 215,962 | |||||||||
| BIS ratio (A/B) |
17.28 | 17.31 | 18.08 | |||||||||
| Notes: | (1) Calculated in accordance with Basel III. |
| KB Securities Co., Ltd. | (Unit: in billions of Won, except percentages) | |||||||||||
|
As of December 31, 2025 |
As of December 31, 2024 |
As of December 31, 2023 |
||||||||||
| Net operating capital (A) |
5,140 | 5,397 | 5,058 | |||||||||
| Total amount at risk (B) |
3,184 | 3,176 | 2,934 | |||||||||
| Maintenance equity margin (C) |
136 | 134 | 134 | |||||||||
| Net capital ratio (A-B)/(C) |
1,442.13% | 1,654.45% | 1,582.09% | |||||||||
| Capital surplus (A-B) |
1,956 | 2,221 | 2,124 | |||||||||
| KB Insurance Co., Ltd. | (Unit: in billions of Won, except percentages) | |||||||||||
| As of December 31, 2025 | As of December 31, 2024 | As of December 31, 2023 | ||||||||||
| Available capital (A) |
12,191 | 11,319 | 11,669 | |||||||||
| Required capital (B) |
6,369 | 6,072 | 5,404 | |||||||||
| Capital Adequacy ratio (A/B)(2) |
192.42% | 186.42% | 215.94% | |||||||||
| Notes: | (1) The figures as of December 31, 2025 are preliminary and subject to an amended disclosure with finalized amounts by March 2026. |
| (2) | Since 2023, the capital adequacy system is calculated based on the Korean Insurance Capital Standard (“K-ICS”) system. |
2.3.2. Overseas Credit Ratings
| (As of December 31, 2025) | ||||||||
| Rating Company | Moody’s | S&P | ||||||
| Type | Long-term | Short-term | Long-term | Short-term | ||||
| Credit Rating | A1 | P-1 | A | A-1 | ||||
Table of Contents
2.3.3. Domestic Credit Ratings
| Date of Rating |
Type |
Credit Rating |
Rating Company (Rating Range) | |||
| 1/19/2023 | Contingent Convertible Bonds | AA- | Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D) | |||
| 6/23/2023 | Commercial Paper | A1 | Korea Ratings (A1 ~ D) / KIS Ratings (A1 ~ D) / NICE Investors Service (A1 ~ D) | |||
| 2/28/2024 | Contingent Convertible Bonds | AA- | Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D) | |||
| 10/18/2024 | Debentures | AAA | NICE Investors Service (AAA ~ D) | |||
| 10/18/2024 | Commercial Paper | A1 | NICE Investors Service (A1 ~ D) | |||
| 10/21/2024 | Debentures | AAA | Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) | |||
| 10/21/2024 | Commercial Paper | A1 | KIS Ratings (A1 ~ D) | |||
| 11/6/2024 | Commercial Paper | A1 | Korea Ratings (A1 ~ D) | |||
| 1/9/2025 | Contingent Convertible Bonds | AA- | Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D) | |||
| 1/22/2025 | Debentures | AAA | Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D) | |||
| 2/21/2025 | Debentures | AAA | Korea Ratings (AAA ~ D) / NICE Ratings (AAA ~ D) | |||
| 2/24/2025 | Debentures | AAA | KIS Ratings (AAA ~ D) | |||
| 3/20/2025 | Debentures | AAA | Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D) | |||
| 4/23/2025 | Debentures | AAA | KIS Ratings (AAA ~ D) / NICE Investors Ratings (AAA ~ D) | |||
| 4/24/2025 | Debentures | AAA | Korea Ratings (AAA ~ D) | |||
| 5/20/2025 | Debentures | AAA | KIS Ratings (AAA ~ D) | |||
| 5/22/2025 | Debentures | AAA | Korea Ratings (AAA ~ D) / NICE Ratings (AAA ~ D) | |||
| 6/24/2025 | Commercial Paper | A1 | NICE Investors Ratings (A1 ~ D) | |||
| 6/26/2025 | Commercial Paper | A1 | KIS Ratings (A1 ~ D) | |||
| 6/27/2025 | Commercial Paper | A1 | Korea Ratings (A1 ~ D) | |||
| 12/12/2025 | Commercial Paper | A1 | NICE Investors Ratings (A1 ~ D) | |||
| 12/12/2025 | Commercial Paper | A1 | KIS Ratings (A1 ~ D) | |||
| 12/18/2025 | Commercial Paper | A1 | Korea Ratings (A1 ~ D) | |||
Table of Contents
2.3.4. Early Retirement Program
To enhance productivity by improving its labor structure, Kookmin Bank implemented a voluntary early retirement program following negotiations with its labor union.
| Subsidiary |
Date of Retirement |
Number of Retired Persons | ||
| January 28, 2019 | 615 | |||
| January 20, 2020 | 462 | |||
| January 30, 2021 | 800 | |||
| Kookmin Bank | January 21, 2022 | 674 | ||
| January 18, 2023 | 713 | |||
| January 19, 2024 | 674 | |||
| January 18, 2025 | 647 | |||
| January 20, 2026 | 550 |
2.3.5. Other Factors Affecting the Group’s Financial Condition and Results of Operations
The economic outlook for Korea and its financial services sector in 2026 and for the foreseeable future remains highly uncertain as a result of, among others, (i) volatile conditions in the Korean and global economies and financial markets resulting from interest and exchange rate fluctuations, a slowdown in the rate of economic growth, lower consumer confidence and subdued domestic consumption, stock market and real estate market volatility, uncertainties surrounding the prospects of the AI industry, rising loan delinquency rates in Korea and changes in fiscal and monetary policies, and (ii) adverse conditions in the Korean and global economies and financial markets resulting from geopolitical uncertainties, including as a result of the imposition of significant tariffs by the United States on its trading partners and other escalations in trade protectionism globally, changes in the global policies of the United States, the ongoing military conflicts in the Middle East (between Iran and other countries, including the United States and Israel) and between Russia and Ukraine, and accelerating de-globalization trends.
Table of Contents
| 3. | Financial Information |
| 3.1. | Consolidated Financial Information |
3.1.1. Consolidated Statements of Financial Position
| (Unit: in millions of Won) | ||||||||||||
| As of December 31, 2025 | As of December 31, 2024 | As of December 31, 2023 | ||||||||||
| Cash and due from financial institutions |
34,776,877 | 29,869,111 | 29,836,311 | |||||||||
| Financial assets at fair value through profit or loss |
89,862,530 | 79,450,093 | 77,038,267 | |||||||||
| Derivative financial assets |
8,178,056 | 11,730,767 | 6,157,628 | |||||||||
| Loans measured at amortized cost |
491,978,044 | 472,071,840 | 444,805,287 | |||||||||
| Financial investments |
134,986,677 | 131,009,464 | 122,199,529 | |||||||||
| Investments in associates and joint ventures |
1,137,184 | 947,390 | 722,222 | |||||||||
| Insurance assets |
271,152 | 276,191 | 229,640 | |||||||||
| Reinsurance assets |
1,515,854 | 1,497,147 | 1,642,432 | |||||||||
| Property and equipment |
5,133,801 | 5,390,015 | 4,945,699 | |||||||||
| Investment property |
3,224,180 | 3,759,176 | 4,109,784 | |||||||||
| Intangible assets |
1,609,427 | 1,966,684 | 1,950,858 | |||||||||
| Net defined benefit assets |
353,366 | 258,500 | 374,090 | |||||||||
| Current income tax assets |
388,589 | 339,855 | 244,317 | |||||||||
| Deferred income tax assets |
193,034 | 278,824 | 274,225 | |||||||||
| Assets held for sale |
174,919 | 136,838 | 208,230 | |||||||||
| Assets of a disposal group held for sale |
94,215 | — | — | |||||||||
| Other assets |
24,045,128 | 18,863,637 | 20,986,897 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total assets |
797,923,033 | 757,845,532 | 715,725,416 | |||||||||
|
|
|
|
|
|
|
|||||||
| Financial liabilities at fair value through profit or loss |
11,320,590 | 10,720,231 | 10,920,435 | |||||||||
| Derivative financial liabilities |
8,234,289 | 11,783,494 | 6,210,639 | |||||||||
| Deposits |
462,397,026 | 435,687,897 | 406,512,434 | |||||||||
| Borrowings |
70,728,396 | 68,077,012 | 69,583,561 | |||||||||
| Debentures |
80,049,270 | 76,171,257 | 69,176,668 | |||||||||
| Insurance contract liabilities |
56,790,030 | 55,863,701 | 50,617,990 | |||||||||
| Reinsurance contract liabilities |
59,648 | 56,266 | 36,030 | |||||||||
| Provisions |
1,264,390 | 927,632 | 1,444,418 | |||||||||
| Net defined benefit liabilities |
100,088 | 100,187 | 81,869 | |||||||||
| Current income tax liabilities |
610,484 | 530,720 | 145,335 | |||||||||
Table of Contents
| As of December 31, 2025 | As of December 31, 2024 | As of December 31, 2023 | ||||||||||
| Deferred income tax liabilities |
1,819,080 | 1,682,292 | 2,094,912 | |||||||||
| Liabilities of a disposal group held for sale |
68,290 | — | — | |||||||||
| Other liabilities |
43,651,463 | 36,429,662 | 40,264,935 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total liabilities |
737,093,044 | 698,030,351 | 657,089,226 | |||||||||
|
|
|
|
|
|
|
|||||||
| Equity attributable to shareholders of the parent company |
59,048,211 | 57,888,952 | 56,692,684 | |||||||||
| Share capital |
2,090,558 | 2,090,558 | 2,090,558 | |||||||||
| Hybrid securities |
4,359,388 | 5,082,578 | 5,032,803 | |||||||||
| Capital surplus |
16,633,518 | 16,646,734 | 16,647,916 | |||||||||
| Accumulated other comprehensive income (loss) |
(467,456 | ) | 496,922 | 2,152,644 | ||||||||
| Retained earnings |
38,333,741 | 34,808,220 | 31,934,600 | |||||||||
| Treasury shares |
(1,901,538 | ) | (1,236,060 | ) | (1,165,837 | ) | ||||||
| Non-controlling interests |
1,781,778 | 1,926,229 | 1,943,506 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total equity |
60,829,989 | 59,815,181 | 58,636,190 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total liabilities and equity |
797,923,033 | 757,845,532 | 715,725,416 | |||||||||
|
|
|
|
|
|
|
|||||||
| Number of companies included as consolidated entities |
376 | 347 | 371 | |||||||||
|
|
|
|
|
|
|
|||||||
Table of Contents
3.1.2. Consolidated Statements of Comprehensive Income
| (Unit: in millions of Won, except per share amounts) | ||||||||||||
| For the year ended December 31, 2025 |
For the year ended December 31, 2024 |
For the year ended December 31, 2023 |
||||||||||
| Net interest income |
13,073,093 | 12,826,714 | 12,180,860 | |||||||||
| Interest income |
29,156,100 | 30,491,385 | 29,142,024 | |||||||||
| Interest income from financial instruments at fair value through other comprehensive income and amortized cost |
27,682,743 | 29,001,556 | 27,705,759 | |||||||||
| Interest income from financial instruments at fair value through profit or loss |
1,436,152 | 1,458,512 | 1,415,366 | |||||||||
| Insurance finance interest income |
37,205 | 31,317 | 20,899 | |||||||||
| Interest expense |
(16,083,007 | ) | (17,664,671 | ) | (16,961,164 | ) | ||||||
| Interest expense |
(14,578,519 | ) | (16,186,914 | ) | (15,426,706 | ) | ||||||
| Insurance finance interest expense |
(1,504,488 | ) | (1,477,757 | ) | (1,534,458 | ) | ||||||
| Net fee and commission income |
4,098,287 | 3,849,627 | 3,673,524 | |||||||||
| Fee and commission income |
5,773,521 | 5,481,843 | 5,368,074 | |||||||||
| Fee and commission expense |
(1,675,234 | ) | (1,632,216 | ) | (1,694,550 | ) | ||||||
| Insurance service result |
1,303,373 | 1,649,761 | 1,446,852 | |||||||||
| Insurance income |
12,376,546 | 11,456,191 | 11,005,471 | |||||||||
| Insurance income |
11,651,881 | 11,017,155 | 10,322,356 | |||||||||
| Reinsurance income |
724,665 | 439,036 | 683,115 | |||||||||
| Insurance expense |
(11,073,173 | ) | (9,806,430 | ) | (9,558,619 | ) | ||||||
| Insurance service expense |
(10,213,199 | ) | (8,884,168 | ) | (8,720,568 | ) | ||||||
| Reinsurance expense |
(859,974 | ) | (922,262 | ) | (838,051 | ) | ||||||
| Net gains on financial assets/liabilities at fair value through profit |
3,380,205 | 1,012,081 | 2,163,065 | |||||||||
| Other insurance finance income (expenses) from contract held |
(1,026,721 | ) | (437,001 | ) | (572,476 | ) | ||||||
| Net other operating expenses |
(2,883,075 | ) | (1,873,011 | ) | (2,712,989 | ) | ||||||
| General and administrative expenses |
(7,064,573 | ) | (6,938,624 | ) | (6,647,406 | ) | ||||||
| Operating income before provision for credit losses |
10,880,589 | 10,089,547 | 9,531,430 | |||||||||
| Provision for credit losses |
(2,362,878 | ) | (2,044,286 | ) | (3,146,409 | ) | ||||||
| Net operating income |
8,517,711 | 8,045,261 | 6,385,021 | |||||||||
| Net non-operating income (expenses) |
(334,565 | ) | (1,060,014 | ) | (264,870 | ) | ||||||
| Share of profit (loss) of associates and joint ventures |
26,852 | (16,884 | ) | 33,110 | ||||||||
| Net other non-operating income (expenses) |
(361,417 | ) | (1,043,130 | ) | (297,980 | ) | ||||||
| Profit before income tax expense |
8,183,146 | 6,985,247 | 6,120,151 | |||||||||
| Income tax expense |
(2,342,431 | ) | (1,956,641 | ) | (1,593,817 | ) | ||||||
| Profit for the period |
5,840,715 | 5,028,606 | 4,526,334 | |||||||||
| Other comprehensive income (loss) for the period, net of tax |
(960,417 | ) | (1,622,712 | ) | 1,171,144 | |||||||
| Items that will not be reclassified to profit or loss: |
||||||||||||
Table of Contents
| For the year ended December 31, 2025 |
For the year ended December 31, 2024 |
For the year ended December 31, 2023 |
||||||||||
| Remeasurements of net defined benefit liabilities |
28,017 | (85,375 | ) | (72,170 | ) | |||||||
| Share of other comprehensive income (loss) of associates and joint ventures |
(2 | ) | ||||||||||
| Gains (losses) on equity securities at fair value through other comprehensive income |
124,513 | (254,864 | ) | 69,605 | ||||||||
| Fair value changes of financial liabilities designated at fair value through profit (loss) due to own credit risk |
(3,222 | ) | (5,514 | ) | (52,863 | ) | ||||||
| Items that may be reclassified subsequently to profit or loss: |
||||||||||||
| Currency translation differences |
(28,814 | ) | 582,872 | 317 | ||||||||
| Gains (losses) on debt securities at fair value through other comprehensive income |
(1,992,733 | ) | 1,468,299 | 3,304,471 | ||||||||
| Share of other comprehensive income of associates and joint ventures |
2,018 | 165 | 26 | |||||||||
| Gains (losses) on cash flow hedging instruments |
(289,508 | ) | 34,741 | 53,923 | ||||||||
| Gains (losses) on hedging instruments of net investments in foreign operations |
39,631 | (186,708 | ) | (14,659 | ) | |||||||
| Insurance finance income (expenses) |
1,159,681 | (3,176,328 | ) | (2,117,504 | ) | |||||||
| Total comprehensive income for the period |
4,880,298 | 3,405,894 | 5,697,478 | |||||||||
| Profit attributable to: |
||||||||||||
| Shareholders of the parent company |
5,833,162 | 5,078,221 | 4,594,835 | |||||||||
| Non-controlling interests |
7,553 | (49,615 | ) | (68,501 | ) | |||||||
| Total comprehensive income for the period attributable to: |
||||||||||||
| Shareholders of the parent company |
4,878,528 | 3,419,852 | 5,772,352 | |||||||||
| Non-controlling interests |
1,770 | (13,958 | ) | (74,874 | ) | |||||||
| Earnings per share |
||||||||||||
| Basic earnings per share (Won) |
15,410 | 12,880 | 11,483 | |||||||||
| Diluted earnings per share (Won) |
15,261 | 12,726 | 11,218 | |||||||||
Table of Contents
| 3.2. | Separate Financial Information |
3.2.1. Separate Statements of Financial Position
| (Unit: in millions of Won) | ||||||||||||
| As of December 31, 2025 | As of December 31, 2024 | As of December 31, 2023 | ||||||||||
| Cash and due from financial institutions |
974,585 | 398,391 | 256,337 | |||||||||
| Financial assets at fair value through profit or loss |
1,251,607 | 1,243,471 | 1,376,423 | |||||||||
| Loans measured at amortized cost |
349,112 | 359,054 | 608,286 | |||||||||
| Investments in subsidiaries |
26,867,817 | 26,867,817 | 26,717,817 | |||||||||
| Property and equipment |
2,896 | 2,800 | 3,080 | |||||||||
| Intangible assets |
13,207 | 14,497 | 15,954 | |||||||||
| Net defined benefit assets |
3,058 | 2,902 | 3,694 | |||||||||
| Deferred income tax assets |
9,354 | 5,257 | 4,492 | |||||||||
| Other assets |
1,381,504 | 912,634 | 542,815 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total assets |
30,853,140 | 29,806,823 | 29,528,898 | |||||||||
|
|
|
|
|
|
|
|||||||
| Borrowings |
— | 965,000 | 100,000 | |||||||||
| Debentures |
4,520,297 | 2,962,032 | 3,871,820 | |||||||||
| Current income tax liabilities |
544,056 | 502,705 | 104,299 | |||||||||
| Other liabilities |
853,551 | 388,528 | 410,704 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total liabilities |
5,917,904 | 4,818,265 | 4,486,823 | |||||||||
|
|
|
|
|
|
|
|||||||
| Share capital |
2,090,558 | 2,090,558 | 2,090,558 | |||||||||
| Hybrid securities |
4,359,256 | 5,082,359 | 5,032,518 | |||||||||
| Capital surplus |
14,751,591 | 14,754,475 | 14,754,747 | |||||||||
| Accumulated other comprehensive loss |
(8,601 | ) | (8,316 | ) | (6,809 | ) | ||||||
| Retained earnings |
5,643,970 | 4,305,542 | 4,336,898 | |||||||||
| Treasury Shares |
(1,901,538 | ) | (1,236,060 | ) | (1,165,837 | ) | ||||||
|
|
|
|
|
|
|
|||||||
| Total equity |
24,935,236 | 24,988,558 | 25,042,075 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total liabilities and equity |
30,853,140 | 29,806,823 | 29,528,898 | |||||||||
|
|
|
|
|
|
|
|||||||
Table of Contents
3.2.2. Separate Statements of Comprehensive Income
| (Unit: in millions of Won, except per share amounts) |
||||||||||||
| For the year ended December 31, 2025 |
For the year ended December 31, 2024 |
For the year ended December 31, 2023 |
||||||||||
| Net interest expense |
(86,201 | ) | (62,371 | ) | (64,853 | ) | ||||||
| Interest income |
31,879 | 38,702 | 35,127 | |||||||||
| Interest income from financial instruments at amortized cost |
28,534 | 35,860 | 31,932 | |||||||||
| Interest income from financial instruments at fair value through profit or loss |
3,345 | 2,842 | 3,195 | |||||||||
| Interest expense |
(118,080 | ) | (101,073 | ) | (99,980 | ) | ||||||
| Net fee and commission expense |
(6,934 | ) | (7,247 | ) | (10,387 | ) | ||||||
| Fee and commission income |
2,134 | 2,213 | 2,585 | |||||||||
| Fee and commission expense |
(9,068 | ) | (9,460 | ) | (12,972 | ) | ||||||
| Net gains on financial assets at fair value through profit or loss |
76,649 | 91,892 | 108,399 | |||||||||
| Net other operating income |
3,778,449 | 2,243,253 | 2,192,385 | |||||||||
| General and administrative expenses |
(102,905 | ) | (95,655 | ) | (92,603 | ) | ||||||
| Operating profit before provision for credit losses |
3,659,058 | 2,169,872 | 2,132,941 | |||||||||
| Reversal of (provision for) credit losses |
56 | 773 | (546 | ) | ||||||||
| Operating profit |
3,659,114 | 2,170,645 | 2,132,395 | |||||||||
| Net non-operating income (expense) |
(795 | ) | 10 | 4,606 | ||||||||
| Profit before income tax |
3,658,319 | 2,170,655 | 2,137,001 | |||||||||
| Income tax income (expense) |
(686 | ) | (58 | ) | (15,757 | ) | ||||||
| Profit for the year |
3,657,633 | 2,170,597 | 2,121,244 | |||||||||
| Other comprehensive income (loss) for the year, net of tax |
(285 | ) | (1,507 | ) | (962 | ) | ||||||
| Items that will not be reclassified to profit or loss: |
||||||||||||
| Remeasurements of net defined benefit liabilities |
(285 | ) | (1,507 | ) | (962 | ) | ||||||
|
|
|
|
|
|
|
|||||||
| Total comprehensive income for the year |
3,657,348 | 2,169,090 | 2,120,282 | |||||||||
|
|
|
|
|
|
|
|||||||
| Earnings per share |
||||||||||||
| Basic earnings per share (Won) |
9,456 | 5,203 | 5,042 | |||||||||
| Diluted earnings per share (Won) |
9,364 | 5,142 | 4,929 | |||||||||
Table of Contents
| 3.3. | Other Selected Financial Data |
3.3.1. Won-denominated Liquidity Ratio
| (Unit: in millions of Won, except percentages) | ||||||||||||
| As of December 31, 2025 | As of December 31, 2024 | As of December 31, 2023 | ||||||||||
| Current assets in Won (A) |
1,535,482 | 592,591 | 656,555 | |||||||||
| Current liabilities in Won (B) |
500,481 | 383,862 | 255,693 | |||||||||
| Liquidity ratio (A/B) |
306.80 | % | 154.38 | % | 256.77 | % | ||||||
| Notes: (1) | Based on K-IFRS (on a separate basis). |
| (2) | Calculated based on Won-denominated assets and liabilities due within one month. |
3.3.2. Profitability Ratios
| (Unit: %) | ||||||||
| For the year ended December 31, 2025 |
For the year ended |
For the year ended | ||||||
| Net income as a percentage of average total assets (ROA) |
0.75 | 0.68 | 0.64 | |||||
| Net income as a percentage of average shareholders’ equity (ROE) |
9.93 | 8.87 | 8.32 | |||||
3.3.3. 20 Largest Exposures of Kookmin Bank by Borrower (As of December 31, 2025)
| (Unit: in billions of Won) | ||||
| Company |
Credit Extended | |||
| HD Hyundai Heavy Industries Co., Ltd. |
1,870 | |||
| NH-Amundi Asset Management Co., Ltd. |
1,657 | |||
| Samsung Electronics Co., Ltd. |
1,604 | |||
| KB Kookmin Card Co., Ltd |
1,416 | |||
| Samsung Heavy Industries Co., Ltd. |
1,337 | |||
| Samsung SDI Co., Ltd.. |
1,139 | |||
| SK on Co., Ltd. |
1,051 | |||
| Construction Guarantee |
1,042 | |||
| E-MART Inc. |
1,007 | |||
| Hanwha Solutions Corporation |
997 | |||
| Harim Industrial Co., Ltd. |
942 | |||
| LS MnM Inc. |
917 | |||
| Strada Holdco L.P. |
912 | |||
| Samsung Card Co., Ltd. |
865 | |||
| LG Energy Solution, Ltd. |
855 | |||
| POSCO INTERNATIONAL Corporation |
843 | |||
| Shinhan Card Co., Ltd. |
841 | |||
| SK Innovation Co., Ltd. |
817 | |||
| SK hynix Inc. |
810 | |||
| Hanwha Corporation |
783 | |||
|
|
|
|||
| Total |
21,704 | |||
|
|
|
|||
Table of Contents
3.3.4. 10 Largest Exposures of Kookmin Bank by Chaebol Group (As of December 31, 2025)
| (Unit: in billions of Won) | ||||
| Group |
Credit Extended | |||
| SK |
5,861 | |||
| Hyundai Motor |
3,638 | |||
| Samsung |
6,723 | |||
| Lotte |
3,391 | |||
| LG |
2,200 | |||
| Hanhwa |
4,656 | |||
| POSCO |
1,647 | |||
| GS |
1,229 | |||
| Hanjin |
503 | |||
| Shinsegae |
1,509 | |||
|
|
|
|||
| Total |
31,356 | |||
|
|
|
|||
3.3.5. Kookmin Bank’s Loan Concentration by Industry (As of December 31, 2025)
| (Unit: in billions of Won, except percentages) |
||||||||
| Industry |
Total Credit |
Percentage of Total Credit |
||||||
| Manufacturing |
63,373 | 27.2 | ||||||
| Construction |
4,463 | 1.9 | ||||||
| Real estate activities |
61,035 | 26.2 | ||||||
| Wholesale and retail trade |
32,060 | 13.8 | ||||||
| Accommodation and food service activities |
11,841 | 5.1 | ||||||
| Financial activities |
10,632 | 4.6 | ||||||
| Others |
49,387 | 21.2 | ||||||
|
|
|
|
|
|||||
| Total |
232,792 | 100.0 | ||||||
|
|
|
|
|
|||||
Table of Contents
3.3.6. Top 20 Non-Performing Loans of Kookmin Bank (As of December 31, 2025)
| (Unit: in billions of Won) | ||||||||||
| Borrower |
Industry |
Total Credit |
Allowance for Loan Losses |
|||||||
| Borrower A |
Construction | 37 | 36 | |||||||
| Borrower B |
Real estate activities | 35 | 10 | |||||||
| Borrower C |
Wholesale and retail trade | 17 | 14 | |||||||
| Borrower D |
Real estate activities | 15 | 3 | |||||||
| Borrower E |
Manufacturing | 10 | 6 | |||||||
| Borrower F |
Construction | 10 | 10 | |||||||
| Borrower G |
Information and communications | 9 | 9 | |||||||
| Borrower H |
Real estate activities | 9 | — | |||||||
| Borrower I |
Real estate activities | 8 | 1 | |||||||
| Borrower J |
Manufacturing | 8 | 2 | |||||||
| Borrower K |
Construction | 7 | 3 | |||||||
| Borrower L |
Manufacturing | 7 | 7 | |||||||
| Borrower M |
Wholesale and retail trade | 7 | 3 | |||||||
| Borrower N |
Information and communications | 7 | 1 | |||||||
| Borrower O |
Accommodation and food service activities | 7 | 2 | |||||||
| Borrower P |
Wholesale and retail trade | 7 | 4 | |||||||
| Borrower Q |
Water supply; sewage, waste management, materials recovery | 7 | 3 | |||||||
| Borrower R |
Manufacturing | 6 | 6 | |||||||
| Borrower S |
Construction | 6 | — | |||||||
| Borrower T |
Construction | 6 | 6 | |||||||
|
|
|
|
|
|||||||
| - |
- | 223 | 126 | |||||||
|
|
|
|
|
|||||||
| 3.4. | Other Financial Information |
The Company’s audited consolidated and separate financial statements are available on its website at www.kbfg.com.
Table of Contents
| 4. | Independent Public Accountants |
| 4.1. | Audit / Review Services |
| (Unit: in millions of Won, hours) | ||||||||||||||||||||
| Period |
Auditor |
Activity |
Agreed Per Contract | Actual | ||||||||||||||||
| Compensation | Estimated Hours |
Compensation | Accrued Hours |
|||||||||||||||||
| January 1 to December 31, 2025 |
Samil Pricewaterhouse Coopers | Quarterly, semi-annual and annual review & audit, review of internal accounting management system (including audit of internal control over financial reporting) | 1,333 | 11,600 | 1,333 | 10,634 | ||||||||||||||
| January 1 to December 31, 2024 |
Samil Pricewaterhouse Coopers | Quarterly, semi-annual and annual review & audit, review of internal accounting management system (including audit of internal control over financial reporting) | 1,296 | 10,970 | 1,296 | 10,136 | ||||||||||||||
| January 1 to December 31, 2023 |
Samil Pricewaterhouse Coopers | Quarterly, semi-annual and annual review & audit, review of internal accounting management system (including audit of internal control over financial reporting) | 1,264 | 11,675 | 1,264 | 11,309 | ||||||||||||||
| 4.2. | Public Company Accounting Oversight Board (“PCAOB”) Audit Services |
| (Unit: in millions of Won) | ||||||||||
| Period |
Auditor |
Activity |
Service Period |
Compensation | ||||||
| January 1 to December 31, 2025 |
Samil Pricewaterhouse Coopers | PCAOB audit of consolidated financial statements and internal control over financial reporting | May 1, 2025 to April 30, 2026 |
827 | ||||||
| January 1 to December 31, 2024 |
Samil Pricewaterhouse Coopers | PCAOB audit of consolidated financial statements and internal control over financial reporting | May 1, 2024 to April 30, 2025 |
804 | ||||||
| January 1 to December 31, 2023 |
Samil Pricewaterhouse Coopers | PCAOB audit of consolidated financial statements and internal control over financial reporting | May 1, 2023 to April 30, 2024 |
784 | ||||||
| 4.3. | Change in Auditor |
Pursuant to the Act on External Audit of Stock Companies and the related regulations thereunder, the Securities and Futures Commission under the Financial Services Commission had designated KPMG Samjong Accounting Corp. as the external auditor for the Company for the fiscal years ended December 31, 2020, 2021 and 2022. Following the end of KPMG Samjong Accounting Corp.’s designated period as the Company’s external auditor, the Company selected Samil PricewaterhouseCoopers to be its new external auditor for the fiscal years ending December 31, 2023, 2024 and 2025, in accordance with the criteria and processes set forth by relevant laws and regulations.
Table of Contents
| 5. | Corporate Governance and Affiliated Companies |
| 5.1. | Board of Directors & Committees under the Board |
As of December 31, 2025, our board of directors consisted of nine directors, comprising one executive director, one non-standing director and seven non-executive directors. The following committees currently serve under our board of directors:
| • | Audit Committee; |
| • | Risk Management Committee; |
| • | Evaluation and Compensation Committee; |
| • | ESG Committee; |
| • | Internal Control Committee; |
| • | Non-Executive Director Nominating Committee; |
| • | Chairman Nominating Committee; |
| • | Subsidiaries’ Representative Director Nominating Committee; and |
| • | Audit Committee Member Nominating Committee (ad hoc committee). |
For the list of our directors, see 6. Directors, Senior Management and Employees — 6.1. Executive Directors, — 6.2. Non-standing Directors and — 6.3. Non-executive Directors below.
| 5.2. | Audit Committee |
The Audit Committee oversees our financial reporting and approves the appointment of our independent auditors and internal compliance officers. The committee also reviews our financial information, auditor’s examinations, key financial statement issues, the plans and evaluation of internal controls and the administration of our financial affairs by the board of directors. In connection with the general meetings of shareholders, the committee examines the agenda for, and financial statements and other reports to be submitted by, the board of directors to each general meeting of shareholders. The committee holds regular meetings every quarter and on an as-needed basis.
The following table shows a list of audit committee requirements under Articles 415-2 and 542-11 of the Commercial Act and how we fulfill each requirement as of December 31, 2025.
| The Commercial Act Requirements |
KB Financial Group | |
| The Audit Committee must consist of three or more directors. |
We have four Audit Committee members. | |
| At least two-thirds of the Audit Committee members must be non-executive directors. |
All four Audit Committee members, including the chairman of the committee, are non-executive directors. | |
|
The chairman of the Audit Committee must be a non-executive director. | ||
| At least one Audit Committee member must be an accounting or financial expert. |
Two Audit Committee members (Whajoon Cho, Sun Yeop Kim) are accounting or financial experts. | |
Table of Contents
| 5.3. | Compensation to Directors |
5.3.1. Total Amount of Compensation Approved at the Annual General Meeting of Shareholders
| (Unit: in millions of Won) | ||||||||||
| Total number of persons | Total compensation approved at shareholders’ meeting | Notes | ||||||||
| Registered
Directors |
9 (7) | 3,000 | — | |||||||
5.3.2. Total Amount of Compensation Paid
| (As of December 31, 2025) | (Unit: in millions of Won) | |||||
| Total number of persons(1) |
Total payment(2)(3) |
Average payment per person(4) |
Notes | |||
| 9 |
1,965 | 224 | — | |||
| Notes: (1) | Represents the total number of applicable persons as of December 31, 2025. | |
| (2) | Represents the total amount paid (rounded to the nearest million) for the year ended December 31, 2025. | |
| (3) | Total payment amount in accordance with the Company’s internal policies on compensation to directors. | |
| (4) | Represents (i) the total amount paid (rounded to the nearest million) for the year ended December 31, 2025, divided by (ii) the number of applicable persons for the applicable reporting period. |
5.3.3. Compensation Breakdown
| (As of December 31, 2025) | (Unit: in millions of Won) | |||||||||||||||
| Total number of persons |
Total payment | Average payment per person |
Notes | |||||||||||||
| Registered Directors (excluding non-executive directors and Audit Committee members) |
2 | 1,271 | 718 | — | ||||||||||||
| Non-executive Directors (excluding Audit Committee members) |
3 | 299 | 100 | — | ||||||||||||
| Audit Committee members |
4 | 395 | 99 | — | ||||||||||||
| Internal Auditor |
— | — | — | — | ||||||||||||
| 5.4. | Top 5 Highest-Paid Individuals |
5.4.1 Compensation exceeding Won 500 million – Individual basis
| (As of December 31, 2025) | (Unit: in millions of Won) | |||||||
| Name |
Position |
Total Amount |
Deferred Compensation | |||||
| Jong Hee Yang | Chairman & CEO | 1,890 | - Deferred short-term performance-based payment, the amount of which corresponds to a total of 3,326 shares and deferred long-term performance-based payment, the amount of which corresponds to a total of 880 shares. The actual payment amounts will be finalized based on the fair market value as of each payment date.
- Long-term performance-based payment (18,516 shares per year), the amount of which will be finalized at a future date pursuant to a performance evaluation over a three-year period from November 21, 2023 to November 20, 2026. | |||||
| Bong Joong Kwon | Senior Managing Director and Head of the IR Division | 1,390 | - Deferred short-term performance-based payment, the amount of which corresponds to a total of 1,516 shares and deferred long-term performance-based payment, the amount of which corresponds to a total of 2,860 shares. The actual payment amounts will be finalized based on the fair market value as of each payment date. | |||||
| Seung Ho Kang |
Head of Secretariat | 536 | ||||||
| Dae Hwan Lim |
Executive Vice President and Chief Compliance Officer | 524 | - Deferred short-term performance-based payment, the amount of which corresponds to a total of 994 shares. The actual payment amounts will be finalized based on the fair market value as of each payment date. | |||||
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5.4.2 Calculation criteria and method of compensation
| Name | Compensation Type | Total Compensation (in millions of Won) |
Calculation Criteria and Method | |||||||
| Jong Hee Yang | Earned income | Salary | 900 |
- A monthly salary was paid in equal monthly installments in accordance with the amount of annual salary determined through a resolution of the Evaluation and Compensation Committee within the limit of the total amount of compensation approved at the shareholders’ meeting. (including allowances for business expenses of Won 400 million.)
| ||||||
| Bonus | 988 |
- The bonus paid in 2025 consisted of Won 602 million in short-term performance-based compensation and Won 386 million in long-term performance-based compensation
- Regarding short-term performance-based compensation, for the period prior to the appointment as the CEO and Chairman (Jan. 1, 2023 – Nov. 20, 2023), the second deferred installment of 831 shares (Won 105 million) and the third deferred installment of 1,019 shares (Won 128 million) from 2022 were paid. For the period following the appointment (Nov. 21, 2023 – Dec. 31, 2023), the second deferred installment of 198 shares (Won 25 million) was paid. Furthermore, for the year 2024, a lump-sum payment of Won 200 million and the first deferred installment of 1,147 shares (Won 144 million) were paid.
- The short-term performance evaluation index for the period after his appointment as the CEO and Chairman consisted of quantitative indicators (including ROE, total operating income, net profit from non-banking businesses, comprehensive NPL ratio, RORWA, Tier 1 ratio, and C/I ratio), as well as non-quantitative results (such as improving the core competitiveness of the Group, enhancing its core businesses, expanding new growth drivers, innovating both physical and digital channels, advancing the Group’s operating model through technology and human capital, and strengthening customer value creation and the foundation for sustainable growth). The amount of the short-term incentive payment is determined by the Evaluation and Compensation Committee based on the aggregate score of the index items above and is within the range of 0%-100% of base salary.
- With respect to the quantitative indicators, the Group’s net profit for 2024 was Won 5,078.2 billion, primarily due to well-managed asset qualities and cost efficiencies. Such results, among others, were considered to be major achievements that were reflected in the performance evaluation.
- The short-term performance evaluation index for the period prior to his appointment as the CEO and Chairman was based on his role as Vice Chairman. These consisted of quantitative metrics related to the Group, Individual Customer, WM/Pension, and SME segments, as well as qualitative metrics linked to strategic management initiatives. The key achievements that were considered included: surpassing 12 million MAU for our flagship platform (Star Banking), solidifying our market leadership in retirement pensions, and expanding our wealth management (WM) client base. The final payment amount is determined within a range of 0% to 120% of the base salary, depending on the achievement level of each respective task. | ||||||||
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| Name | Compensation Type | Total Compensation (in |
Calculation Criteria and Method | |||||||
|
- Regarding long-term performance-based compensation, the second deferred installment of 878 shares (Won 111 million) was paid for the period prior to his appointment as the CEO and Chairman (Jan. 1, 2023 – Nov. 20, 2023). Additionally, the third deferred installment of 2,187 shares (Won 275 million) for the 2021–2022 performance period was paid.
- Long-term performance evaluation index consists of Relative Total Shareholder Return (Relative TSR), group performance, and individual performance. Long-term performance-based compensations are calculated within a range of 0% to 100% of the annual base salary, depending on the achievement level of each respective indicator.
- Regarding the performance evaluation index, Relative TSR accounts for share price fluctuations compared to peer groups during the performance evaluation contract period. Group and individual performance results are reflected by calculating the arithmetic mean of annual performance evaluation results throughout the relevant period. | ||||||||||
| Stock options | — |
- Not applicable | ||||||||
| Other earned income | 2 |
- Other employee benefits | ||||||||
| Retirement income | — |
- Not applicable | ||||||||
| Other income | — |
- Not applicable | ||||||||
| Bong Joong Kwon | Earned income | Salary | 230 |
- A monthly salary was paid in equal monthly installments in accordance with the amount of annual salary determined based on his position and responsibilities pursuant to our internal policy regarding executive officers. | ||||||
| Bonus | 1,032 |
- The bonus paid in 2025 consisted of Won 322 million in short-term performance-based compensation and Won 710 million in long-term performance-based compensation.
- Regarding short-term performance-based compensation, a lump-sum payment of Won 115 million was paid for the year 2024. Additionally, the third deferred installment from 2022 of 570 shares (Won 72 million), the second deferred installment from 2023 of 637 shares (Won 80 million), and the first deferred installment from 2024 of 439 shares (Won 55 million) were paid.
- The short-term performance evaluation criteria for 2024 consisted of qualitative indicators linked to key management objectives in his role as Head of Investor Relations, which were comprehensively reviewed by the Evaluation and Compensation Committee. The amount of the short-term incentive payment was determined within a range of 0%-120% of the base salary.
- Key achievements considered for 2024 included executing market-friendly IR and shareholder meeting processes, enhancing market confidence through accurate and transparent disclosures, improving external credit ratings management and supporting management decision-making through timely market feedback. | ||||||||
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| Name | Compensation Type | Total Compensation (in |
Calculation Criteria and Method | |||||||
|
- Regarding the long-term performance-based compensation, a lump-sum payment of 4,289 shares (Won 374 million) was paid for the 2023–2024 performance period. Additionally, the first deferred installment of 1,429 shares (Won 180 million) for the same period and the third deferred installment of 1,239 shares (Won 156 million) for the 2021–2022 period were paid.
- The long-term performance evaluation criteria consisted of relative total shareholder return (relative TSR), the Group’s performance, and individual performance results. The amount of the long-term incentive payment was determined based on the achievement level of each indicator and was within a range of 0%-100% of the base salary.
- With respect to the long-term performance evaluation, the relative total shareholder return was calculated based on changes in the Group’s share price relative to the average share price of its competitors during the evaluation period, while the Group’s performance and individual performance results were determined based on the arithmetic average of annual performance evaluations. | ||||||||||
| Stock options |
- Not applicable | |||||||||
| Other earned income | 32 |
- Other employee benefits | ||||||||
| Retirement income | 96 |
- In accordance with the Regulations on the Management of Executive Officers, a severance payment is paid in an amount equal to one-twelfth (1/12) of the base annual salary at the time of retirement, multiplied by a payout rate based on the years of service (one for each year of service). | ||||||||
| Other income |
- Not applicable | |||||||||
| Seung Ho Kang | Earned income | Salary | 122 |
- The amount paid in accordance with the monthly payroll schedule | ||||||
| Bonus |
112 |
- Performance-based compensation for the 2025 fiscal year and payouts for unused annual leave, among others. | ||||||||
| Stock options |
- Not applicable | |||||||||
| Other earned income |
12 |
- Other employee benefits | ||||||||
| Retirement income | 290 |
- Standard severance pay paid in accordance with relevant laws and the Regulations on Compensation and Retirement Benefits. | ||||||||
| Other income |
- Not applicable | |||||||||
| Dae Hwan Lim | Earned income | Salary | 260 |
- A monthly salary was paid in equal monthly installments in accordance with the amount of annual salary determined based on his position and responsibilities pursuant to our internal policy regarding executive officers. | ||||||
Table of Contents
| Name | Compensation Type | Total Compensation (in |
Calculation Criteria and Method | |||||||
| Bonus | 192 |
- The bonus paid in 2025 consisted of Won 192 million in short-term performance-based compensation
- Regarding short-term performance-based compensation, a lump-sum payment of Won 130 million was paid for the year 2024. Additionally, the first deferred installment of 496 shares (Won 62 million) for the same period was paid.
- The 2024 short-term performance index consisted of qualitative metrics linked to strategic management initiatives in the individual’s capacity as the Compliance Officer. The final payout amount was determined within a range of 0% to 120% of the base salary based on a comprehensive evaluation by the Evaluation and Compensation Committee. | ||||||||
|
- Key achievements considered include the minimization of legal risks by establishing an agile legal advisory system in response to the changing financial environment of 2024. In addition, significant weight was given to the digitalization of internal control processes, the restructuring of the holding company’s internal control framework, and the strengthening of internal control capabilities through the inspection and supervision of Group Anti-Money Laundering (AML) and financial consumer protection sectors. | ||||||||||
| Stock options |
- Not applicable | |||||||||
| Other earned income | 29 |
- Other employee benefits | ||||||||
| Retirement income | 43 |
- In accordance with the Regulations on the Management of Executive Officers, a severance payment is paid in an amount equal to one-twelfth (1/12) of the base annual salary at the time of retirement, multiplied by a payout rate based on the years of service (one for each year of service). | ||||||||
| Other income | - Not applicable | |||||||||
| 5.5. | Stock-based Compensation |
5.5.1. Stock-Linked Cash Compensation (Phantom Stock)
Pursuant to the Group’s director compensation regulations and executive officer management regulations, the Evaluation and Compensation Committee determines various aspects of the performance evaluation and compensation of the Group’s management, and establishes and evaluates the performance evaluation and compensation criteria for management on an annual basis through its committee resolutions. The short-term performance bonuses (annual evaluation) and long-term performance bonuses (multi-year cumulative evaluation) that were determined on the basis of such evaluation results are paid and operated in the form of cash compensation and stock compensation (performance-linked shares, restricted stock).
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A portion (40 to 60%) of the short-term bonus is paid in cash immediately, while the remaining portion (60 to 40%) is converted to restricted stocks and paid on a deferred basis. The long-term bonus is granted as performance-linked shares based on a cumulative evaluation covering two years of performance (three years for the CEO). A portion of such performance-linked shares is paid in cash in an amount corresponding to the stock value, while the remaining portion is converted to restricted stocks and paid on a deferred basis, similar to the short-term performance bonuses. The deferred portions of the short-term and long-term performance bonuses are paid in cash, reflecting the stock price (fair market value) at the time of the deferred payment.
5.5.2. Changes in the Amounts of Stock-based Compensation
5.5.2.1 Long-Term Performance Compensation
| (Unit: Number of shares, except number of recipients) |
||||||||||||
| For the year ended December 31, 2025 |
For the year ended December 31, 2024 |
For the year ended December 31, 2023 |
||||||||||
| Number of Recipients(1)(2) |
12 | 13 | 11 | |||||||||
| Number of Performance-Linked Shares Granted(2)(3) |
37,628 | 73,213 | 97,995 | |||||||||
| Number of Performance-Linked Shares Paid During the Period (a+b)(4) |
41,877 | 69,947 | 136,045 | |||||||||
| a. Number of Shares for Stock-Linked Cash Compensation |
20,406 | 33,431 | 63,934 | |||||||||
| b. Number of Shares Converted to Restricted Stocks to be Paid on a Deferred Basis |
21,471 | 36,516 | 72,111 | |||||||||
| Evaluation Adjustment |
(684 | ) | (4,146 | ) | (839 | ) | ||||||
| Cumulative Number of Performance-Linked Shares Paid (Sum of Stock-Linked Cash Compensation and Restricted Stock Conversion)(5) |
247,869 | 242,463 | 216,889 | |||||||||
| Number of Unpaid Performance-Linked Shares(3)(6) |
142,660 | 147,593 | 148,473 | |||||||||
| Notes: (1) | Based on the beneficiaries reported to the tax office pursuant to Article 20 of the Income Tax Act of Korea. |
| (2) | Based on the number of individuals who entered into stock-based compensation agreements each year and the number of shares scheduled to be granted according to such agreements. |
| (3) | Adjusted based on the period of employment during the performance-linked share grant period. |
| (4) | Represents the final number of shares determined after adjustments based on evaluation results. According to the Act on the Corporate Governance of Financial Companies, a portion (40 to 60%) is paid as stock-linked cash compensation applying the stock price (fair market value) at the end of the evaluation period, while the remainder (60 to 40%) is converted to restricted stocks and paid on a deferred basis for one year from the end of the evaluation period or one year after retirement, and then paid over three years applying the stock price (fair market value) at the time of each deferred payment. |
| (5) | Represents the cumulative number of shares paid up to the record date of disclosure during the reporting period. |
| (6) | Represents the number of shares granted at the end of the year minus the actual number of shares paid. |
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5.5.2.2. Restricted Stock
| (Unit: Number of shares, except number of recipients) | ||||||||||||
| For the year ended December 31, 2025 |
For the year ended December 31, 2024 |
For the year ended December 31, 2023 |
||||||||||
| Number of Payment Recipients |
21 | 26 | 23 | |||||||||
| Number of Shares Confirmed for Deferral(1) |
43,076 | 64,997 | 113,124 | |||||||||
| Number of Shares Paid(1) |
75,896 | 73,878 | 66,512 | |||||||||
| Cumulative Number of Shares Paid(3) |
216,286 | 198,824 | 188,802 | |||||||||
| Number of Unpaid Shares(1) |
128,933 | 161,753 | 170,634 | |||||||||
| Notes: (1) | Based on the number of restricted stocks confirmed based on the period of employment and the resolutions of the Evaluation and Compensation Committee. |
| (2) | Restricted stock is paid in cash reflecting the stock price (fair market value) at the time of each deferred payment, after one year from the end of the evaluation period or one year after retirement, over three years. |
| (3) | Represents the cumulative number of shares paid up to the record date of disclosure during the reporting period. |
| 5.6. | Affiliated Companies |
5.6.1. List of Affiliated Companies
Affiliated companies of KB Financial Group that are first-tier subsidiaries and KB Financial Group’s ownership of such companies as of December 31, 2025 are as follows.
1) Kookmin Bank (100.00%)
2) KB Securities Co., Ltd. (100.00%)
3) KB Insurance Co., Ltd. (100.00%)
4) KB Kookmin Card Co., Ltd. (100.00%)
5) KB Life Insurance Co., Ltd. (100.00%)
6) KB Asset Management Co., Ltd. (100.00%)
7) KB Capital Co., Ltd. (100.00%)
8) KB Real Estate Trust Co., Ltd. (100.00%)
9) KB Savings Bank Co., Ltd. (100.00%)
10) KB Investment Co., Ltd. (100.00%)
11) KB Data Systems Co., Ltd. (100.00%)
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| 6. | Directors, Senior Management and Employees |
| 6.1. | Executive Directors |
As of December 31, 2025 and March 13 2026, we had one executive director. The name, position and the end of the term of our executive director and the number of shares of our common stock he owned as of March 13 2026 are set forth below.
| Name |
Date of Birth |
Position |
Common Shares Owned |
End of Term | ||||
| Jong Hee Yang |
June 1961 | Chairman & Chief Executive Officer | 5,914 | November 20, 2026 |
| 6.2. | Non-standing Directors |
As of December 31, 2025 and March 13 2026, we had one non-standing director. The name, position and the end of the term of our non-standing director and the number of shares of our common stock he owned as of March 13 2026 are set forth below.
| Name |
Date of Birth |
Position |
Common Shares Owned | End of Term(1) | ||||||
| Hwan Ju Lee |
October 1964 | Non-standing Director | 4,131 | March 25, 2027 | ||||||
| Note: | (1) The date designated as Mr. Hwan Ju Lee’s end of term is the date of the annual general meeting of shareholders for fiscal year 2026, which is expected be held in March 2027. |
| 6.3. | Non-executive Directors |
As of December 31, 2025 and March 13 2026, we had seven non-executive directors. The name, position and the end of the term of our non-executive directors and the number of shares of our common stock they respectively owned as of March 13 2026 were as follows.
| Name |
Date of Birth |
Position |
Common Shares Owned |
End of Term | ||||||
| Whajoon Cho |
February 1957 | Non-executive Director | — | March 25, 2026 | ||||||
| Jungsung Yeo |
April 1960 | Non-executive Director | — | March 25, 2026 | ||||||
| Jaehong Choi |
August 1962 | Non-executive Director | — | March 25, 2026 | ||||||
| Eun Young Chah |
October 1962 | Non-executive Director | — | March 25, 2027 | ||||||
| Myong-Hwal Lee |
May 1964 | Non-executive Director | — | March 21, 2026 | ||||||
| Sung-Yong Kim |
March 1966 | Non-executive Director | — | March 25, 2026 | ||||||
| Sun Yeop Kim |
November 1969 | Non-executive Director | — | March 25, 2027 | ||||||
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Appointment of Directors to be proposed at the annual general meeting of shareholders
The following is a list of the non-standing director and non-executive director candidates, as of March 13, 2026, to be proposed to shareholders at the annual general meeting of shareholders for fiscal year 2025. If such proposal is rejected at the upcoming annual general meeting of shareholders, KB Financial Group will disclose such matter through a separate amendment filing. For more information regarding the annual general meeting of shareholders and agenda items, please refer to the Company’s report on Form 6-K furnished to the Securities and Exchange Commission on March 6, 2026.
| Name |
Date of Birth |
Nominated Position |
Expected Date
of | |||
| Whajoon Cho (Re-appointment) |
February 1957 | Audit Committee Member and Non-executive Director | March 26, 2026 | |||
| Jaehong Choi (Re-appointment) |
August 1962 | Non-executive Director | March 26, 2026 | |||
| Myong-Hwal Lee (Re-appointment) |
May 1964 | Non-executive Director | March 26, 2026 | |||
| Sung-Yong Kim (Re-appointment) |
March 1966 | Audit Committee Member and Non-executive Director | March 26, 2026 | |||
| Jeong Ho Seo (New appointment) |
August 1969 | Audit Committee Member and Non-executive Director | March 26, 2026 |
| 6.4. | Senior Management |
Members of our senior management as of March 13, 2026 are as follows.
| Name |
Date of Birth |
Position |
Common Shares Owned(1) | End of Term | ||||||
| Chang Kwon Lee |
November 1965 | Senior Executive Vice President and Chief Strategy Officer | 3,010 | December 31, 2026 | ||||||
| Jae Keun Lee |
May 1966 | Senior Executive Vice President and Chief Business Officer of Global, Wealth Management and Corporate Finance | 2,119 | December 31, 2026 | ||||||
| Sung Hyun Kim |
August 1963 | Senior Executive Vice President and Chief Business Officer of Corporate Investment Banking and Capital Markets | 20,468 | December 31, 2026 | ||||||
| Young Suh Cho |
February 1971 | Executive Vice President and Deputy Chief Strategy Officer | 2,000 | December 31, 2026 | ||||||
| Seok Mun Choi |
August 1968 | Executive Vice President and Chief Ethics and Compliance Officer | 1,973 | December 31, 2027 | ||||||
| Keoung Nam Kim |
August 1967 | Senior Managing Director and Head of the ESG Division | 2,647 | December 31, 2026 | ||||||
| Sang Rok Na |
August 1972 | Senior Managing Director and Chief Financial Officer | 1,373 | December 31, 2026 | ||||||
| Hong Sun Yum |
February 1971 | Senior Managing Director and Chief Risk Management Officer | 1,144 | December 31, 2026 | ||||||
| Shin Dong Jeung |
January 1966 | Senior Managing Director and Head of KB Research | 2,122 | December 31, 2026 | ||||||
| Young Gi Seo |
August 1965 | Senior Managing Director and Vice Head of KB Research | — | December 31, 2026 | ||||||
| Young June Park |
November 1969 | Senior Managing Director and Head of Audit Department | 854 | December 31, 2026 | ||||||
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| Name |
Date of Birth |
Position |
Common Shares Owned(1) | End of Term | ||||||
| Hee Seung Yun |
April 1974 |
Managing Director and Chief Business Officer of Insurance | 980 | December 31, 2026 | ||||||
| Dong Wook Joo |
July 1975 |
Managing Director and Chief Human Resources Officer | 467 | December 31, 2027 | ||||||
| Seung Ho Kang |
November 1975 |
Managing Director and Head of Secretariat | 758 | December 31, 2027 | ||||||
| Sun Hyun Park |
June 1970 |
Chief Consumer Protection Officer | 2,517 | December 31, 2027 | ||||||
| Jin Young Park |
September 1972 |
Chief Public Relation Officer | 2,694 | December 31, 2026 | ||||||
| Hyoung Joo Park |
July 1971 |
Head of AI • DT Initiative Division | 788 | December 31, 2026 | ||||||
| Sang Won Oh |
December 1967 |
Head of the IT Division | 1,278 | December 31, 2026 | ||||||
| Kyeong Jong Lee |
February 1978 |
Head of the Financial AI Center 2 | 200 | December 31, 2026 | ||||||
| Hyun Jung Lee |
March 1977 |
Head of the Customer Experience Design Center | 456 | December 31, 2026 | ||||||
| Byoung Ha Choi |
September 1972 |
Head of the Group Architecture Center | 707 | December 31, 2026 | ||||||
| Myoung Hwa Park |
December 1969 |
Head of the Planning & Coordination Department | 1,215 | December 31, 2026 | ||||||
| Jae Yong Lee |
June 1968 |
Head of Information Security Department | 986 | December 31, 2026 | ||||||
| Note: | (1) The numbers of common shares owned are as of March 13, 2026 and includes those owned in the holder’s name under the employee stock ownership association’s account, and may differ from the number of shares owned as reported pursuant to Article 173 of the Financial Investment Services and Capital Markets Act. |
As of March 13, 2026, the following management also served as senior management at our subsidiaries.
| Name |
Subsidiary |
Position |
Appointment Date | |||
| Hwan Ju Lee |
Kookmin Bank | Chief Executive Officer | January 2025 | |||
| Keoung Nam Kim |
Kookmin Bank | Head of the ESG Division | July 2025 | |||
| Sun Hyun Park |
Kookmin Bank | Senior Executive Vice President, Consumer Protection Group | January 2026 | |||
| Jin Young Park |
Kookmin Bank | Senior Executive Vice President, Brand & PR Group | January 2026 | |||
| Hyoung Joo Park |
Kookmin Bank | Head of AI • DT Initiative Division | January 2026 | |||
| Sang Won Oh |
Kookmin Bank | Senior Executive Vice President, Tech Development Group | January 2024 | |||
| Kyeong Jong Lee |
Kookmin Bank | Managing Director, Head of the Financial AI Center 2 | January 2025 | |||
| Hyun Jung Lee |
Kookmin Bank | Head of the Customer Experience Design Center | January 2025 | |||
| Byoung Ha Choi |
Kookmin Bank | Head of the Tech Development Division | January 2025 | |||
| Myoung Hwa Park |
Kookmin Bank | Head of the Planning & Coordination Department | January 2025 | |||
| Jae Yong Lee |
Kookmin Bank | Managing Director, Head of Information Security Department | August 2022 | |||
| Young Suh Cho |
KB Securities | Non-standing Director | February 2026 | |||
| Sang Rok Na |
KB Insurance | Non-standing Director | February 2025 | |||
| Hee Seung Yun |
KB Asset Management | Non-standing Director | February 2026 |
Table of Contents
| 6.5. | Employees |
The following table shows information regarding our employees and compensation paid to them as of December 31, 2025.
| (Unit: in millions of Won) | ||||||||
| Number of Employees(1) |
Average Tenure of Employees(2) |
Total Amount of |
Average Compensation per Person(4) |
|||||
| 144 | 3 years and 8months (17 years and 10months) |
28,098(5) | 197(5) | |||||
| Notes: (1) | Includes all employees as of December 31, 2025, including executive officers. |
| (2) | The duration in parentheses includes tenure at our subsidiaries. |
| (3) | Based on the sum of all compensation paid from January 1, 2025 to December 31, 2025. |
| (4) | Based on the sum of the average monthly compensation of each month from January 1, 2025 to December 31, 2025, which is computed by dividing the sum of all compensation paid each month by the number of employees (including executive officers) at the end of each month. |
| (5) | The total amount of compensation paid from January 1, 2025 to December 31, 2025 includes special bonuses for the fiscal year 2024. Excluding such special bonuses, the average compensation per employee amounts to Won 178 million. |
The following table shows information regarding our executive officers and compensation paid to them as of December 31, 2025.
| (Unit: in millions of Won) | ||||||||
| Number of Executive Officers(A) |
Total Amount of Annual Salaries(B) | Average Annual Salary per Person(B/A) | ||||||
| 13 |
5,420 | 429 | ||||||
| 7. | Major Shareholders and Related Party Transactions |
| 7.1. | Major Shareholders |
The following table presents information regarding holders of 5% or more of our total issued shares based on our shareholder registry as of December 31, 2025, unless specified otherwise.
| (Unit: shares, %) | ||||||||
| Name |
Number of Shares of Common Stock |
Percentage of Total Issued Shares(1) |
||||||
| Korean National Pension Service |
33,107,971 | 8.68 | ||||||
| Capital Research and Management Company (2) |
31,543,611 | 8.27 | ||||||
| JP Morgan Chase Bank, N.A.(3) |
20,492,038 | 5.37 | ||||||
| BlackRock Fund Advisors(4) |
25,050,939 | 6.02 | ||||||
| Notes: (1) | Based on 381,462,103 shares of our common stock issued as of December 31, 2025. |
| (2) | The above number of shares and the percentage of total issued shares held by Capital Research and Management Company are as of September 30, 2025 and are based on disclosure made by Capital Research and Management Company in a statement of acquisition filing on October 14, 2025. Prior to September 30, 2025, such shares had previously been held by The Capital Group Companies, Inc. |
| (3) | Depositary under the Company’s ADR program. The voting rights are held by ADR holders. |
| (4) | The above number of shares and the percentage of total issued shares held by BlackRock Fund Advisors are as of February 26, 2021 and are based on the disclosure made by BlackRock Fund Advisors in a statement of acquisition filing on March 10, 2021. |
Table of Contents
| 7.2. | Changes in the Largest Shareholder |
| (Unit: shares, %) | ||||||||||
| Name of Largest Shareholder |
Date of Change in Largest Shareholder/ Date of Change in Number of Shares Owned |
Number of Shares of Common Stock(1) |
Percentage of Total Issued Shares(2) |
|||||||
| Korean National Pension Service |
December 31, 2019 | 41,468,003 | 9.97 | |||||||
| Korean National Pension Service |
February 1, 2020 | 41,462,588 | (3) | 9.97 | ||||||
| Korean National Pension Service |
October 12, 2020 | 41,402,150 | 9.96 | |||||||
| Korean National Pension Service |
December 31, 2020 | 41,287,280 | 9.93 | |||||||
| Korean National Pension Service |
June 30, 2021 | 40,626,942 | 9.77 | |||||||
| Korean National Pension Service |
December 31, 2021 | 37,626,516 | 9.05 | |||||||
| Korean National Pension Service |
January 27, 2022 | 37,188,199 | (4) | 8.94 | ||||||
| Korean National Pension Service |
March 31, 2022 | 36,008,504 | 8.73 | |||||||
| Korean National Pension Service |
June 30, 2022 | 33,830,623 | 8.20 | |||||||
| Korean National Pension Service |
September 30, 2022 | 32,594,691 | 7.97 | |||||||
| Korean National Pension Service |
October 12, 2022 | 32,457,827 | (5) | 7.94 | ||||||
| Korean National Pension Service |
December 31, 2022 | 32,499,151 | 7.95 | |||||||
| Korean National Pension Service |
March 31, 2023 | 33,572,593 | 8.21 | |||||||
| Korean National Pension Service |
June 30, 2023 | 33,183,590 | 8.22 | |||||||
| Korean National Pension Service |
September 30, 2023 | 35,321,767 | 8.75 | |||||||
| Korean National Pension Service |
October 6, 2023 | 35,273,578 | 8.74 | |||||||
| Korean National Pension Service |
December 31, 2023 | 33,473,917 | 8.30 | |||||||
| Korean National Pension Service |
February 29, 2024 | 33,704,092 | 8.35 | |||||||
| Korean National Pension Service |
March 31, 2024 | 33,200,471 | 8.23 | |||||||
| Korean National Pension Service |
June 30, 2024 | 33,326,122 | 8.26 | |||||||
| Korean National Pension Service |
September 30, 2024 | 32,308,082 | 8.21 | |||||||
| Korean National Pension Service |
December 31, 2024 | 33,095,691 | 8.41 | |||||||
| Korean National Pension Service |
March 31, 2025 | 32,919,773 | 8.37 | |||||||
| Korean National Pension Service |
June 30, 2025 | 33,064,648 | 8.40 | |||||||
| Korean National Pension Service |
August 11, 2025 | 31,844,527 | 8.35 | |||||||
| Korean National Pension Service |
September 30, 2025 | 31,601,545 | 8.28 | |||||||
| Korean National Pension Service |
November 14, 2025 | 32,666,149 | 8.56 | |||||||
| Korean National Pension Service |
December 31, 2025 | 33,107,971 | 8.68 | |||||||
| Notes: | (1) | Based on our shareholder registry as of the end of each applicable year unless specified otherwise. |
| (2) | Total number of shares of common stock issued as of the following dates: |
From October 19, 2016 to December 12, 2019: 418,111,537
From December 12, 2019 to February 14, 2022: 415,807,920
From February 14, 2022 to August 1, 2022: 412,352,494
From August 1, 2022 to April 4, 2023: 408,897,068
From April 4, 2023 to August 14, 2024: 403,511,072
From August 14,2024 to May 15, 2025: 393,528,423
After May 15, 2025: 381,462,103(However, the number of shares and the percentage of total issued shares of the Korean National Pension Service as of June 30, 2025 are based on the shareholder registry as of May 12, 2025, or 393,528,423 shares.)
| (3) | Based on disclosure made by the Korean National Pension Service in a statement of acquisition filing on February 7, 2020. |
| (4) | Based on disclosure made by the Korean National Pension Service in a statement of disposal filing on February 4, 2022. |
| (5) | Based on disclosure made by the Korean National Pension Service in a statement of disposal filing on November 2, 2022. |
Table of Contents
| 7.3. | Employee Stock Ownership Association (As of December 31, 2025) |
| (Unit: shares) | ||||
| Company Name |
Number of Shares of Common Stock Owned |
|||
| KB Financial Group Inc. |
83,131 | |||
| Kookmin Bank |
7,380,988 | |||
| KB Securities Co., Ltd. |
75,039 | |||
| KB Insurance Co., Ltd. |
852,180 | |||
| KB Kookmin Card Co., Ltd. |
699,117 | |||
| KB Life Insurance Co., Ltd. |
21,118 | |||
| KB Asset Management Co., Ltd. |
17,715 | |||
| KB Capital Co., Ltd. |
142,638 | |||
| KB Real Estate Trust Co., Ltd. |
21,352 | |||
| KB Savings Bank Co., Ltd. |
17,715 | |||
| KB Investment Co., Ltd. |
3,977 | |||
| KB Data Systems Co., Ltd. |
62,109 | |||
| KB Credit Information Co., Ltd. |
11,992 | |||
| KB Fund Partners Co., Ltd. |
22,897 | |||
| Others(1) |
33,591 | |||
|
|
|
|||
| Total |
9,445,559 | |||
|
|
|
|||
| Note: | (1) | Shares of common stock attributable to an account owned by the employee stock ownership association of KB Financial Group. |
| 7.4. | Investments in Affiliated Companies |
| (As of December 31, 2025) | (Units: shares, %, millions of Won) | |||||||||||||||||||
| Company Name |
Ending Balance | Total assets as of the latest fiscal year |
Net income(loss) for the latest fiscal year |
|||||||||||||||||
| Number of shares owned |
Ownership | Book value | ||||||||||||||||||
| Kookmin Bank |
404,379,116 | 100 | 14,821,721 | 584,934,967 | 3,852,166 | |||||||||||||||
| KB Securities Co., Ltd. |
298,620,424 | 100 | 3,342,391 | 76,461,426 | 673,856 | |||||||||||||||
| KB Insurance Co., Ltd. |
66,500,000 | 100 | 2,375,430 | 45,377,597 | 778,228 | |||||||||||||||
| KB Kookmin Card Co., Ltd. |
92,000,000 | 100 | 1,953,175 | 30,235,710 | 330,226 | |||||||||||||||
| KB Life Insurance Co., Ltd. |
16,201,518 | 100 | 2,795,367 | 35,585,902 | 139,329 | |||||||||||||||
| KB Asset Management Co., Ltd. |
7,667,550 | 100 | 96,312 | 697,405 | 120,203 | |||||||||||||||
| KB Capital Co., Ltd. |
32,175,147 | 100 | 873,811 | 18,163,063 | 235,219 | |||||||||||||||
| KB Real Estate Trust Co., Ltd. |
21,616,085 | 100 | 271,553 | 1,124,017 | (78,685 | ) | ||||||||||||||
| KB Savings Bank Co., Ltd. |
8,001,912 | 100 | 176,813 | 2,219,824 | (4,834 | ) | ||||||||||||||
| KB Investment Co., Ltd. |
22,525,328 | 100 | 154,910 | 1,675,994 | 57,918 | |||||||||||||||
| KB Data Systems Co., Ltd. |
800,000 | 100 | 6,334 | 85,289 | 7,586 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Total |
— | — | 26,867,817 | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Note: (1) | Based on each affiliate’s financial statements prepared in accordance with K-IFRS |
Table of Contents
| 7.5. | Related Party Transactions |
7.5.1. Purchase of capital securities issued by KB Securities Co., Ltd.
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Securities Co., Ltd. |
Subsidiary | No. 1 Private Placement of Capital Securities in Won | 200 | March 31, 2022 | 4.300% | March 31, 2052 (may be extended) |
Working capital | |||||||
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Securities Co., Ltd. |
Subsidiary | No. 3 Private Placement of Capital Securities in Won | 230 | September 30, 2022 | 5.500% | September 30, 2052 (may be extended) |
Working capital | |||||||
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Securities Co., Ltd. |
Subsidiary | No. 4 Private Placement of Capital Securities in Won | 100 | May 8, 2023 | 5.350% | May 8, 2053 (may be extended) |
Working capital | |||||||
7.5.2. Purchase of capital securities issued by KB Capital Co., Ltd.
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Capital Co., Ltd. |
Subsidiary | No. 299 Private Placement of Capital Securities in Won | 50 | March 27, 2015 | 7.840%(1) | March 27, 2045 (may be extended) |
Working capital | |||||||
Note: (1) The interest rate has increased from its initial rate due to the non-exercise of the call option.
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Capital Co., Ltd.. |
Subsidiary | No. 320 Private Placement of Capital Securities in Won | 50 | September 24, 2015 |
7.412%(1) | September 24, 2045 (may be extended) | Working capital | |||||||
Note: (1) The interest rate has increased from its initial rate due to the non-exercise of the call option.
Table of Contents
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Capital Co., Ltd. |
Subsidiary | No. 343 Private Placement of Capital Securities in Won | 50 | March 29, 2016 | 6.305%(1) | March 29, 2046 (may be extended) |
Working capital | |||||||
Note: (1) The interest rate has increased from its initial rate due to the non-exercise of the call option.
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Capital Co., Ltd. |
Subsidiary | No. 352 Private Placement of Capital Securities in Won | 50 | June 28, 2016 | 6.466%(1) | June 28, 2046 (may be extended) |
Working capital | |||||||
Note: (1) The interest rate has increased from its initial rate due to the non-exercise of the call option.
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Capital Co., Ltd. |
Subsidiary | No. 367 Private Placement of Capital Securities in Won | 50 | November 28, 2016 |
6.952%(1) | November 28, 2046 (may be extended) | Working capital | |||||||
Note: (1) The interest rate has increased from its initial rate due to the non-exercise of the call option.
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Capital Co., Ltd. |
Subsidiary | No. 378 Private Placement of Capital Securities in Won | 50 | April 27, 2017 | 7.664%(1) | April 27, 2047 (may be extended) |
Working capital | |||||||
|
Note: (1) The interest rate has increased from its initial rate due to the non-exercise of the call option. |
||||||||||||||
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Capital Co., Ltd. |
Subsidiary | No. 460 Private Placement of Capital Securities in Won | 100 | September 25, 2020 | 6.822%(1) | September 25, 2050 (may be extended) | Working capital | |||||||
Note: (1) The interest rate has increased from its initial rate due to the non-exercise of the call option.
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue |
Issue Date |
Interest |
Maturity Date |
Use of | |||||||
| KB Capital Co., Ltd. |
Subsidiary | No. 486 Private Placement of Capital Securities in Won | 100 | February 17, 2022 | 4.495% | February 17, 2052 (may be extended) |
Working capital | |||||||
Table of Contents
7.5.3. Purchase of capital securities issued by KB Real Estate Trust Co., Ltd.
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue Amount |
Issue Date |
Interest |
Maturity Date |
Use of Proceeds | |||||||
| KB Real Estate Trust Co., Ltd. |
Subsidiary | No. 1 Private Placement of Capital Securities in Won | 150 | June 27, 2024 | 7.800% | June 27, 2054 (may be extended) |
Working capital | |||||||
7.5.4. Purchase of subordinated bonds issued by KB Savings Bank Co., Ltd.
| (Unit: in billions of Won) | ||||||||||||||
| Issuer |
Relationship |
Type |
Issue Amount |
Issue Date |
Interest |
Maturity Date |
Use of Proceeds | |||||||
| KB Savings Bank Co., Ltd. |
Subsidiary | No. 1 Subordinated Bonds in Won |
70 | June 25, 2021 | 1.600% | June 25, 2031 | Working capital | |||||||
7.5.5. Prepayments and Loans to Subsidiaries
| (Unit: in billions of Won) | ||||||||||||||
| Name |
Relationship |
Account |
Loan Amount |
Current Balance |
Credit Offering |
Interest Rate |
Maturity Date | |||||||
| KB Investment Co., Ltd. |
Subsidiary | Loans(1) | 40 | 40 | July 13, 2018 | 3.166% | July 10, 2026 | |||||||
Note: (1) Unsecured credit loans
| (Unit: in billions of Won) | ||||||||||||||
| Name |
Relationship |
Account |
Loan Amount |
Current Balance |
Credit Offering |
Interest Rate |
Maturity Date | |||||||
| KB Investment Co., Ltd. |
Subsidiary | Loans(1) | 70 | 70 | March 8, 2019 | 3.165% | March 6, 2026 | |||||||
Note: (1) Unsecured credit loans
| (Unit: in billions of Won) | ||||||||||||||
| Name |
Relationship |
Account |
Loan Amount |
Current Balance |
Credit Offering |
Interest Rate |
Maturity Date | |||||||
| KB Investment Co., Ltd. |
Subsidiary | Loans(1) | 30 | 30 | March 9, 2020 | 3.165% | March 6, 2026 | |||||||
Note: (1) Unsecured credit loans
| (Unit: in billions of Won) | ||||||||||||||
| Name |
Relationship |
Account |
Loan Amount |
Current Balance |
Credit Offering |
Interest Rate |
Maturity Date | |||||||
| KB Investment Co., Ltd. |
Subsidiary | Loans(1) | 30 | 30 | July 13, 2020 | 3.166% | July 10, 2026 | |||||||
Note: (1) Unsecured credit loans
Table of Contents
| (Unit: in billions of Won) | ||||||||||||||
| Name |
Relationship |
Account |
Loan Amount |
Current Balance |
Credit Offering |
Interest Rate |
Maturity Date | |||||||
| KB Investment Co., Ltd. |
Subsidiary | Loans(1) | 70 | 70 | December 20, 2021 | 3.109% | December 18, 2026 | |||||||
Note: (1) Unsecured credit loans
| (Unit: in billions of Won) | ||||||||||||||
| Name |
Relationship |
Account |
Loan Amount |
Current Balance |
Credit Offering |
Interest Rate |
Maturity Date | |||||||
| KB Investment Co., Ltd. |
Subsidiary | Loans(1) | 60 | 60 | July 13, 2022 | 3.166% | July 10, 2025 | |||||||
Note: (1) Unsecured credit loans
| (Unit: in billions of Won) | ||||||||||||||
| Name |
Relationship |
Account |
Loan Amount |
Current Balance |
Credit Offering |
Interest Rate |
Maturity Date | |||||||
| KB Investment Co., Ltd. |
Subsidiary | Loans(1) | 50 | 50 | July 13, 2023 | 3.166% | July 10, 2026 | |||||||
Note: (1) Unsecured credit loans
| 8. | Internal Controls |
| 8.1. | Management’s Assessment of the Effectiveness of the Internal Accounting Management System |
| Period |
Date of Report |
Assessment |
Material Deficiencies |
Corrective Action |
||||||||
| January 1 to December 31, 2025 |
March 5, 2026 (Audit Committee) March 5, 2026 (Board of Directors) March 26, 2026 (General Meeting of Shareholders (Expected)) |
In terms of overall materiality, the internal accounting management system is under effective design and operation. | — | — | ||||||||
| January 1 to December 31, 2024 |
March 4, 2025 (Audit Committee) March 4, 2025 (Board of Directors) March 26, 2025 (General Meeting of Shareholders) |
In terms of overall materiality, the internal accounting management system is under effective design and operation. | — | — | ||||||||
| January 1 to December 31, 2023 |
March 5, 2024 (Audit Committee) March 5, 2024 (Board of Directors) March 22, 2024 (General Meeting of Shareholders) |
In terms of overall materiality, the internal accounting management system is under effective design and operation. | — | — | ||||||||
Table of Contents
| 8.2. | Audit Committee’s Assessment of the Effectiveness of the Internal Accounting Management System |
| Period |
Date of Report |
Assessment |
Material Deficiencies |
Corrective Action |
||||||||||
| January 1 to December 31, 2025 |
March 5, 2026 | In terms of overall materiality, the internal accounting management system is under effective design and operation. | — | — | ||||||||||
| January 1 to December 31, 2024 |
March 4, 2025 | In terms of overall materiality, the internal accounting management system is under effective design and operation. | — | — | ||||||||||
| January 1 to December 31, 2023 |
March 5, 2024 | In terms of overall materiality, the internal accounting management system is under effective design and operation. | — | — | ||||||||||
| 8.3. | External Auditor’s Audit Opinion (Review Report) on the Effectiveness of the Internal Accounting Management System |
| Period |
Auditor |
Audit or |
Opinion Type |
Issues | Company’s Response Actions |
|||||||||
| January 1 to December 31, 2025 |
Samil PricewaterhouseCoopers | Audit | Unqualified | — | — | |||||||||
| January 1 to December 31, 2024 |
Samil PricewaterhouseCoopers | Audit | Unqualified | — | — | |||||||||
| January 1 to December 31, 2023 |
Samil PricewaterhouseCoopers | Audit | Unqualified | — | — | |||||||||
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| KB Financial Group Inc. | ||||||||
| (Registrant) | ||||||||
| Date: March 13, 2026 |
By: /s/ Sang Rok Na | |||||||
| (Signature) | ||||||||
| Name: | Sang Rok Na | |||||||
| Title: | Senior Managing Director and Chief Financial Officer | |||||||