KB Financial Group Inc
KB
ISIN US48241A1051 / Valor 4611054
KB Financial Group Inc
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About company
KB Financial Group Inc. is a prominent financial institution headquartered in South Korea, recognized for its extensive reach and influence within the Asian financial market. As a leading entity, it boasts the largest customer base and branch network across Korea, positioning it as a pivotal player in the region's financial landscape. The group operates across a broad spectrum of financial services, including banking, insurance, asset management, and more, catering to a diverse clientele ranging from individual consumers to large corporations. While the company emphasizes its commitment to social contribution and sustainable society development, its core business revolves around leveraging its financial expertise and expansive network to provide comprehensive financial solutions. Through its wide array of services, KB Financial Group aims to fulfill its mission of effecting positive change in the world through finance, driving economic growth, and supporting the development of future generations.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (17.12.2024):
Net Profit Growth
In the third quarter of 2024, KB Financial Group Inc. reported a cumulative net profit of 4,395 billion won, reflecting a slight year-over-year increase of 0.4%. This growth was achieved despite challenging economic conditions, including declining interest rates and an economic downturn. The group's balanced growth across key non-banking subsidiaries, such as securities, insurance, and card services, contributed to this stable profitability.
Revenue and Operating Profit
KB Financial Group Inc.'s gross operating profit for the third quarter of 2024 reached 13,367.3 billion won, marking a 5.8% increase compared to the same period in the previous year. The group's net operating profit also saw a significant rise of 14.3% year-over-year, amounting to 7,015.2 billion won. This growth was driven by a combination of increased net interest income and other operating profits.
Loan Growth and Net Interest Margin
As of the end of the third quarter of 2024, KB Financial Group Inc.'s loans in won increased by 5.9% year-to-date, reaching 362 trillion won. The group's net interest margin (NIM) for the quarter was 1.95%, while the bank's NIM stood at 1.71%. Despite a slight decline in NIM due to spread contraction, the group maintained a focus on balancing growth and profitability through qualitative growth in loans.
Cost Efficiency and Credit Cost
KB Financial Group Inc. maintained a stable cost efficiency ratio (CIR) of 36.5% for the third quarter of 2024, supported by solid earnings growth and cost control efforts. The group's cumulative credit cost ratio (CCR) was recorded at 0.41%, with the bank's CCR at 0.13%. The group managed to keep CCR stable despite conservative provisioning, aided by the stabilization of the real estate PF market.
Capital Adequacy and Shareholder Returns
By the end of September 2024, KB Financial Group Inc. achieved a Common Equity Tier 1 (CET1) ratio of 13.85%, reflecting a strong capital position. The group continued its commitment to enhancing shareholder value through strategic capital management, including a share buyback and cancellation program amounting to 100 billion won for 2024. The group aims to maintain a capital ratio above 13.5% despite potential challenges in the fourth quarter.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
22301 M
Market cap (USD)
13,819
Daily traded volume (Shares)
59.65 / 59.4
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
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EPS (USD)
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Ratings & reviews
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