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'''KB Financial Group Inc.''' ({{Korean |hangul=주식회사 케이비금융지주 |rr=Jusik-hoesa Keibi Geumyung Jiju}}) is a financial holding company headquartered in [[Seoul]], [[South Korea]]. The Group and its subsidiaries provide a broad range of banking and financial services. It is one of the domestic systemically important banks (D-SIBs) identified by the [[Financial Services Commission (South Korea)|Financial Services Commission]].<ref>{{cite web |url=http://www.fsc.go.kr:8300/v/pGrsOF6TKhg |title=FSC Identifies D-SIBs for 2021 |author=<!--Not stated--> |date=June 24, 2020 |website= |publisher=[[Financial Services Commission (South Korea)|Financial Services Commission]] |access-date= |quote=}}</ref>
'''KB Financial Group Inc.''' ({{Korean |hangul=주식회사 케이비금융지주 |rr=Jusik-hoesa Keibi Geumyung Jiju}}) is a financial holding company headquartered in [[Seoul]], South Korea. The Group and its subsidiaries provide a broad range of banking and financial services. It is one of the domestic systemically important banks (D-SIBs) identified by the [[Financial Services Commission (South Korea)|Financial Services Commission]].<ref>{{cite web |url=http://www.fsc.go.kr:8300/v/pGrsOF6TKhg |title=FSC Identifies D-SIBs for 2021 |author=<!--Not stated--> |date=June 24, 2020 |website= |publisher=[[Financial Services Commission (South Korea)|Financial Services Commission]] |access-date= |quote=}}</ref>


== History ==
== History ==
KB Financial Group was established through restructuring Kookmin Bank into a holding company in September 2008. Kookmin Bank launched a financial holding firm to boost non-banking operations such as brokerage, insurance, and consumer finance.<ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |date=April 30, 2008 |title=Kookmin shares to be suspended in Sept for holding co. |url=https://www.reuters.com/article/sppage012-seo16444-oisbn-idUKSEO1644420080430 |work=[[Reuters]] |location= |access-date=}}</ref><ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |date=April 6, 2011 |title=Kookmin Bank plans block sale of stake in parent - report |url=https://www.reuters.com/article/koominbank-sale-idUSL3E7F608B20110406 |work=Reuters |location= |access-date=}}</ref> After the establishment, KB has acquired non-banking financial services companies, including LIG Insurance, Hyundai Securities, Prudential Life Korea, etc.
KB Financial Group was established through restructuring Kookmin Bank into a holding company in September 2008. Kookmin Bank launched a financial holding firm to boost non-banking operations such as brokerage, insurance, and consumer finance.<ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |date=April 30, 2008 |title=Kookmin shares to be suspended in Sept for holding co. |url=https://www.reuters.com/article/sppage012-seo16444-oisbn-idUKSEO1644420080430 |work=[[Reuters]] |location= |access-date=}}</ref><ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |date=April 6, 2011 |title=Kookmin Bank plans block sale of stake in parent - report |url=https://www.reuters.com/article/koominbank-sale-idUSL3E7F608B20110406 |work=Reuters |location= |access-date=}}</ref> After the establishment, KB has acquired non-banking financial services companies, including LIG Insurance, Hyundai Securities, Prudential Life Korea, etc.


In 2015, KB acquired LIG Insurance, South Korea's fourth-largest non-life insurance company with assets totaling 24 trillion won, from [[LIG Group]] and changed its name to KB Insurance.<ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |date=March 25, 2015 |title=KB Financial finalizes LIG Insurance acquisition price |url=https://pulsenews.co.kr/view.php?year=2015&no=282946 |work=[[Maeil Business Newspaper]] |location= |access-date=}}</ref><ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |date=Jun 19, 2015 |title=KB Financial to wrap up LIG takeover next week |url=https://koreaherald.com/view.php?ud=20150619000959 |work=[[The Korea Herald]] |location= |access-date=}}</ref> KB also took over Hyundai Securities from [[Hyundai Group]] after beating Korea Investment and Hong Kong-based private equity firm [[Actis Capital|Actis]] in 2016.<ref>{{cite news |last=Choi |first=Kyongae |date=March 31, 2016 |title=KB picked as preferred bidder for Hyundai Securities |url=https://en.yna.co.kr/view/AEN20160331010700320 |work=[[Yonhap]] |location=[[Seoul]] |access-date=}}</ref> KB has merged its existing stock brokerage firm KB Investment & Securities with Hyundai Securities and renamed as KB Securities. In 2020, KB reinforced the [[life insurance]] business by acquiring a 100% stake in [[Prudential Financial Inc]]'s South Korean unit for 2.3 trillion won.<ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |date=April 10, 2020 |title=KB Financial Group acquires Prudential's South Korean unit for $1.89 billion |url=https://www.reuters.com/article/us-prudential-finl-kb-financial-sale-idUKKCN21S0HW |work=Reuters |location= |access-date=}}</ref><ref name=F6K/>
In 2015, KB acquired LIG Insurance, South Korea's fourth-largest non-life insurance company with assets totaling 24 trillion won, from [[LIG Group]] and changed its name to KB Insurance.<ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |date=March 25, 2015 |title=KB Financial finalizes LIG Insurance acquisition price |url=https://pulsenews.co.kr/view.php?year=2015&no=282946 |work=[[Maeil Business Newspaper]] |location= |access-date=}}</ref><ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |date=Jun 19, 2015 |title=KB Financial to wrap up LIG takeover next week |url=https://koreaherald.com/view.php?ud=20150619000959 |work=[[The Korea Herald]] |location= |access-date=}}</ref> KB also took over Hyundai Securities from [[Hyundai Group]] after beating Korea Investment and Hong Kong–based private equity firm [[Actis Capital|Actis]] in 2016.<ref>{{cite news |last=Choi |first=Kyongae |date=March 31, 2016 |title=KB picked as preferred bidder for Hyundai Securities |url=https://en.yna.co.kr/view/AEN20160331010700320 |work=[[Yonhap]] |location=[[Seoul]] |access-date=}}</ref> KB has merged its existing stock brokerage firm KB Investment & Securities with Hyundai Securities and renamed as KB Securities. In 2020, KB reinforced the [[life insurance]] business by acquiring a 100% stake in [[Prudential Financial Inc]]'s South Korean unit for 2.3 trillion won.<ref>{{cite news |author=<!--Staff writer(s)/no by-line.--> |date=April 10, 2020 |title=KB Financial Group acquires Prudential's South Korean unit for $1.89 billion |url=https://www.reuters.com/article/us-prudential-finl-kb-financial-sale-idUKKCN21S0HW |work=Reuters |location= |access-date=}}</ref><ref name=F6K/>


In 2021, KB Financial Group brought out majority stakes on Indonesia-based Bank Bukopin and rebranding their company name as [[:id:KB Bukopin|KB Bukopin]].<ref>{{Cite news|title=KB Bukopin Siap Menjadi Bintang Finansial Indonesia|url=https://www.bukopin.co.id/read/242-kb-bukopin-siap-menjadi-bintang-finansial-indonesia|website=Bank Bukopin|date=23 February 2021|access-date=11 March 2023|language=ID}}</ref>
In 2021, KB Financial Group bought a majority stake on Indonesia-based Bank Bukopin and rebranded it into [[:id:KB Bukopin|KB Bukopin]].<ref>{{Cite news|title=KB Bukopin Siap Menjadi Bintang Finansial Indonesia|url=https://www.bukopin.co.id/read/242-kb-bukopin-siap-menjadi-bintang-finansial-indonesia|website=Bank Bukopin|date=23 February 2021|access-date=11 March 2023|language=ID}}</ref>


== Operations ==
== Operations ==
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{{KOSPI 200}}
{{KOSPI 200}}
{{S&P Asia 50}}


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[[Category:Companies listed on the Korea Exchange]]
[[Category:Companies listed on the Korea Exchange]]
[[Category:Companies in the KOSPI 200]]
[[Category:Companies in the KOSPI 200]]
[[Category:Companies in the S&P Asia 50]]
[[Category:South Korean companies established in 2008]]
[[Category:South Korean companies established in 2008]]
[[Category:Financial services companies of South Korea]]
[[Category:Financial services companies of South Korea]]

Latest revision as of 15:12, 18 December 2024

KB Financial Group Inc.
Native name
주식회사 케이비금융지주
Company typePublic
Holding
KRX: 105560
NYSE: KB (ADR)
ISINKR7105560007
IndustryFinancial services
FoundedSeptember 29, 2008 (2008-09-29) (holding company)
Headquarters
Seoul
,
South Korea
Key people
Yoon Jong-kyoo
(Chairman & CEO)
RevenueDecreaseUS$17.2 billion (2022)
DecreaseUS$3.547 billion (2022)
Total assetsDecreaseUS$508 billion (2022)
SubsidiariesKookmin Bank
KB Life Insurance
Websitewww.kbfg.com
Footnotes / references
[1]

KB Financial Group Inc. (Korean: 주식회사 케이비금융지주; RR: Jusik-hoesa Keibi Geumyung Jiju) is a financial holding company headquartered in Seoul, South Korea. The Group and its subsidiaries provide a broad range of banking and financial services. It is one of the domestic systemically important banks (D-SIBs) identified by the Financial Services Commission.[2]

History

[edit]

KB Financial Group was established through restructuring Kookmin Bank into a holding company in September 2008. Kookmin Bank launched a financial holding firm to boost non-banking operations such as brokerage, insurance, and consumer finance.[3][4] After the establishment, KB has acquired non-banking financial services companies, including LIG Insurance, Hyundai Securities, Prudential Life Korea, etc.

In 2015, KB acquired LIG Insurance, South Korea's fourth-largest non-life insurance company with assets totaling 24 trillion won, from LIG Group and changed its name to KB Insurance.[5][6] KB also took over Hyundai Securities from Hyundai Group after beating Korea Investment and Hong Kong–based private equity firm Actis in 2016.[7] KB has merged its existing stock brokerage firm KB Investment & Securities with Hyundai Securities and renamed as KB Securities. In 2020, KB reinforced the life insurance business by acquiring a 100% stake in Prudential Financial Inc's South Korean unit for 2.3 trillion won.[8][1]

In 2021, KB Financial Group bought a majority stake on Indonesia-based Bank Bukopin and rebranded it into KB Bukopin.[9]

Operations

[edit]

There are 13 subsidiaries under KB Financial Group, including Kookmin Bank, KB Securities, KB Insurance, KB Kookmin Card, Prudential Life Insurance Korea, KB Asset Management, KB Capital, KB Life Insurance, KB Real Estate Trust, KB Savings Bank, KB Investment, KB Data Systems, and KB Credit Information.

See also

[edit]

References

[edit]
  1. ^ a b "Audit Report of KB Financial Group Inc. for Fiscal Year 2020". U.S. Securities and Exchange Commission. March 9, 2021.
  2. ^ "FSC Identifies D-SIBs for 2021". Financial Services Commission. June 24, 2020.
  3. ^ "Kookmin shares to be suspended in Sept for holding co". Reuters. April 30, 2008.
  4. ^ "Kookmin Bank plans block sale of stake in parent - report". Reuters. April 6, 2011.
  5. ^ "KB Financial finalizes LIG Insurance acquisition price". Maeil Business Newspaper. March 25, 2015.
  6. ^ "KB Financial to wrap up LIG takeover next week". The Korea Herald. Jun 19, 2015.
  7. ^ Choi, Kyongae (March 31, 2016). "KB picked as preferred bidder for Hyundai Securities". Yonhap. Seoul.
  8. ^ "KB Financial Group acquires Prudential's South Korean unit for $1.89 billion". Reuters. April 10, 2020.
  9. ^ "KB Bukopin Siap Menjadi Bintang Finansial Indonesia". Bank Bukopin (in Indonesian). 23 February 2021. Retrieved 11 March 2023.
[edit]
  • Official website
  • Business data for KB Financial Group (KRX: 105560):


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