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 2015
Commission File Number: 000-53445
KB Financial
Group Inc.
(Translation of registrant’s name into English)
84, Namdaemoon-ro, Jung-gu, Seoul 100-703, 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 x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): ¨
Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No
x
If “Yes” is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-N/A.
TABLE OF CONTENTS
2
Summary of Business Report for Fiscal Year 2014
On March 31, 2015, KB Financial Group Inc. (“KB Financial Group”) filed its business report for the fiscal year ended December 31, 2014
(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 (and in the attached review report) 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.
3
| 1. |
Introduction to the Company |
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.
Obtained final approval from the Financial Services Commission to
establish a financial holding company
Establishment of the Company through a comprehensive stock transfer
and listing on the New York Stock Exchange
Listing on the Korea Exchange
The largest shareholder of the Company changed from the Korean National
Pension Service to ING Bank N.V.
The largest shareholder of the Company changed from ING Bank N.V. to the
Korean National Pension Service
Added Kookmin Bank Cambodia PLC as a second-tier subsidiary
Added KB Life Insurance Co., Ltd., formerly a second-tier subsidiary, as a
first-tier subsidiary
Added Burrill-KB Life Sciences Fund as a second-tier subsidiary
Added KB-Glenwood Private Equity Fund No. 1 as a second-tier subsidiary
The largest shareholder of the Company changed from the Korean National
Pension Service to ING Bank N.V.
Added KBIC No. 3 PEF as a second-tier subsidiary
Added KoFC KBIC Frontier Champ 2010-5 PEF as a second-tier subsidiary
4
Added KB Kookmin Card Co., Ltd. as a first-tier subsidiary
KB Futures Co., Ltd. was merged into KB Investment & Securities
Co., Ltd.
The largest shareholder of the Company changed from ING Bank N.V. to the
Korean National Pension Service
Closed KB Investment & Securities Hong Kong Ltd.
Added KB Savings Bank Co., Ltd. as a first-tier subsidiary
Added KoFC POSCO HANWHA KB Shared Growth No. 2. Private Equity Fund as
a second-tier subsidiary
Liquidated Burrill-KB Life Sciences Fund Ltd.
Added KoFC Value-up Private Equity Fund as a second-tier subsidiary
Added Kookmin Bank (China) Ltd. as a second-tier subsidiary
Acquisition of the remaining shares of KB Life Insurance Co., Ltd., which
increased the Company’s shareholding to 100%
Added Yehansoul Savings Bank as a first-tier subsidiary
Merged Yehansoul Savings Bank with KB Savings Bank, with KB Savings Bank
as the surviving entity
Added KB Capital Co., Ltd. as a first-tier subsidiary
Added Korea GCC Global Cooperation Private Equity Fund as a second-tier
subsidiary
5
| 1.3. |
Overview of the Business Group |
|
|
|
|
|
|
|
| |
|
|
|
(As of December 31, 2014) |
| Type |
|
Name of Company |
|
Controlling Company |
|
Remarks |
| Holding Company |
|
KB Financial Group |
|
— |
|
Listed |
|
|
|
|
| 1st Tier Subsidiaries |
|
Kookmin Bank |
|
KB Financial Group |
|
Not listed |
|
|
KB Kookmin Card Co., Ltd. |
|
KB Financial Group |
|
Not listed |
|
|
KB Investment & Securities 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 |
|
Listed |
|
|
KB Savings Bank Co., Ltd. |
|
KB Financial Group |
|
Not listed |
|
|
KB Real Estate Trust Co., Ltd. |
|
KB Financial Group |
|
Not listed |
|
|
KB Investment Co., Ltd. |
|
KB Financial Group |
|
Not listed |
|
|
KB Credit Information Co., Ltd. |
|
KB Financial Group |
|
Not listed |
|
|
KB Data Systems Co., Ltd. |
|
KB Financial Group |
|
Not listed |
|
|
|
|
| 2nd Tier Subsidiaries |
|
Kookmin Bank Hong Kong Ltd. |
|
Kookmin Bank |
|
Not listed |
|
|
Kookmin Bank International Ltd. |
|
Kookmin Bank |
|
Not listed |
|
|
Kookmin Bank Cambodia PLC |
|
Kookmin Bank |
|
Not listed |
|
|
Kookmin Bank (China) Ltd. |
|
Kookmin Bank |
|
Not listed |
|
|
|
|
|
|
KB-Glenwood Private Equity Fund No. 1 |
|
KB Investment & Securities |
|
Not listed |
|
|
|
|
|
|
NPS-KBIC Private Equity Fund No. 1 |
|
KB Investment |
|
Not listed |
|
|
KBIC No. 3 PEF |
|
KB Investment |
|
Not listed |
|
|
KoFC KBIC Frontier Champ 2010-5 PEF |
|
KB Investment |
|
Not listed |
|
|
KoFC POSCO HANWHA KB Shared Growth No. 2. Private Equity Fund |
|
KB Investment |
|
Not listed |
|
|
KoFC Value-up Private Equity Fund |
|
KB Investment |
|
Not listed |
|
|
Korea GCC Global Cooperation PEF |
|
KB Investment |
|
Not listed |
Notes:
| (1) |
On January 13, 2012, KB Savings Bank Co., Ltd. was added as a first-tier subsidiary. |
| (2) |
On May 11, 2012, KoFC POSCO HANWHA KB Shared Growth No. 2. Private Equity Fund was added as a second-tier subsidiary. |
| (3) |
On June 8, 2012, Burrill-KB Life Sciences Fund Ltd. was liquidated. |
| (4) |
On July 2, 2012, KoFC Value-up Private Equity Fund was added as a second-tier subsidiary. |
| (5) |
On October 10, 2012, Kookmin Bank (China) Ltd. was added as a second-tier subsidiary. |
| (6) |
On September 2, 2013, Yehansoul Savings Bank was added as a first-tier subsidiary. On January 13, 2014, Yehansoul Savings Bank was merged with KB Savings Bank with KB Savings Bank as the surviving entity.
Accordingly, Yehansoul Savings Bank is no longer a first-tier subsidiary of KB Financial Group. |
| (7) |
On Mar 20, 2014, KB Capital Co., Ltd. was added as a first-tier subsidiary. |
| (8) |
On July 2, 2014, Korea GCC Cooperation Private Equity Fund was added as a second-tier subsidiary. |
Capital Increase
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (As of December 31, 2014) |
|
|
|
|
|
|
|
|
|
|
|
|
(Unit: Won, shares) |
| Issue Date |
|
Type |
|
Number |
|
|
Par Value |
|
|
Issue 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 |
|
|
Rights offering to existing
shareholders; % increase in
number of common shares:
8.41865% |
6
Number of Shares
|
|
|
|
|
|
|
|
|
| (As of December 31, 2014) |
|
(Unit: shares) |
|
| |
|
Type |
|
| |
|
Common Stock |
|
|
Total |
|
| Shares Authorized for Issuance |
|
|
1,000,000,000 |
|
|
|
1,000,000,000 |
|
| Shares Issued (A) |
|
|
386,351,693 |
|
|
|
386,351,693 |
|
| Treasury Stock (B) |
|
|
— |
|
|
|
— |
|
| Shares Outstanding (A-B) |
|
|
386,351,693 |
|
|
|
386,351,693 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (As of December 31, 2014) |
|
|
|
|
|
|
|
|
|
| Items |
|
|
|
|
Number of shares |
|
|
Notes |
|
| Total number of issued shares |
|
|
Common shares |
|
|
|
386,351,693 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Shares without voting rights |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| 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 |
|
|
|
386,351,693 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Items |
|
January 1, 2014
to
December 31, 2014 |
|
|
January 1, 2013
to
December 31, 2013(1) |
|
|
January 1, 2012
to
December 31, 2012(2) |
|
| Par value per share (Won) |
|
|
5,000 |
|
|
|
5,000 |
|
|
|
5,000 |
|
| (Consolidated) Net income (Won in Millions) |
|
|
1,400,722 |
|
|
|
1,271,502 |
|
|
|
1,731,034 |
|
| Earnings per share (Won) |
|
|
3,626 |
|
|
|
3,291 |
|
|
|
4,480 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total cash dividends (Won in Millions) |
|
|
301,354 |
|
|
|
193,176 |
|
|
|
231,811 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total stock dividends (Won in Millions) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (Consolidated) Cash dividend payout ratio (%) |
|
|
21.5 |
|
|
|
15.2 |
|
|
|
13.4 |
|
| Cash dividend yield (%) |
|
Common Shares |
|
|
2.0 |
|
|
|
1.2 |
|
|
|
1.6 |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Stock dividend yield (%) |
|
Common Shares |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Cash dividend per share (Won) |
|
Common Shares |
|
|
780 |
|
|
|
500 |
|
|
|
600 |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Stock dividend per share (Shares) |
|
Common Shares |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| (1) |
Net income and earnings per share for the period ended December 31, 2013 have been restated to reflect adjustments resulting from retroactive application of a change in accounting policy with respect to uncertain
tax position. |
| (2) |
Net income and earnings per share for the period ended December 31, 2012 have been restated to reflect adjustments resulting from retroactive application of amendments to the K-IFRS 1019. |
7
| 2.1. |
Results of Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
(Unit: in millions of Won) |
|
| |
|
For the year ended
December 31, 2014 |
|
|
For the year ended
December 31, 2013(1) |
|
|
For the year ended
December 31, 2012(2) |
|
| Net interest income |
|
|
6,415,775 |
|
|
|
6,522,832 |
|
|
|
7,037,783 |
|
| Interest income |
|
|
11,635,296 |
|
|
|
12,356,930 |
|
|
|
14,210,106 |
|
| Interest expense |
|
|
(5,219,521 |
) |
|
|
(5,834,098 |
) |
|
|
(7,172,323 |
) |
| Net fee and commission income |
|
|
1,382,729 |
|
|
|
1,479,239 |
|
|
|
1,566,706 |
|
| Fee and commission income |
|
|
2,666,185 |
|
|
|
2,657,365 |
|
|
|
2,753,876 |
|
| Fee and commission expense |
|
|
(1,283,456 |
) |
|
|
(1,178,126 |
) |
|
|
(1,187,170 |
) |
| Net gains (losses) on financial assets/liabilities at fair value through profit or loss |
|
|
439,198 |
|
|
|
756,822 |
|
|
|
811,964 |
|
| Net other operating income (expenses) |
|
|
(1,040,909 |
) |
|
|
(1,304,765 |
) |
|
|
(1,531,942 |
) |
| General and administrative Expenses |
|
|
(4,009,694 |
) |
|
|
(3,983,564 |
) |
|
|
(3,845,610 |
) |
| Operating profit before provision for credit losses |
|
|
3,187,099 |
|
|
|
3,470,564 |
|
|
|
4,038,901 |
|
| Provision for credit losses |
|
|
(1,227,976 |
) |
|
|
(1,443,572 |
) |
|
|
(1,606,703 |
) |
| Net operating profit |
|
|
1,959,123 |
|
|
|
2,026,992 |
|
|
|
2,432,198 |
|
| * |
Note: Based on K-IFRS (on a consolidated basis). |
| (1) |
Restated to reflect adjustments resulting from retroactive application of a change in accounting policy with respect to uncertain tax positions. |
| (2) |
Restated as a result of retroactive application of the adoption of K-IFRS 1110 and an amendment to K-IFRS 1019. |
8
| 2.2. |
Sources and Uses of Funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unit: in millions of Won, %) |
|
| |
|
|
|
For the year ended
December 31, 2014 |
|
|
For the year ended
December 31, 2013(1) |
|
|
For the year ended
December 31, 2012(2) |
|
| |
|
|
|
Average
Balance |
|
|
Interest Rate
(%) |
|
|
Ratio
(%) |
|
|
Average
Balance |
|
|
Interest Rate
(%) |
|
|
Ratio
(%) |
|
|
Average
Balance |
|
|
Interest Rate
(%) |
|
|
Ratio
(%) |
|
| Won Currency |
|
Deposits |
|
|
186,833,286 |
|
|
|
2.20 |
|
|
|
63.76 |
|
|
|
180,330,345 |
|
|
|
2.49 |
|
|
|
63.39 |
|
|
|
181,850,183 |
|
|
|
3.10 |
|
|
|
64.01 |
|
| |
Certificate of deposit |
|
|
1,689,157 |
|
|
|
2.71 |
|
|
|
0.58 |
|
|
|
1,780,230 |
|
|
|
3.01 |
|
|
|
0.63 |
|
|
|
1,734,611 |
|
|
|
3.88 |
|
|
|
0.61 |
|
| |
Borrowings |
|
|
5,456,405 |
|
|
|
2.52 |
|
|
|
1.86 |
|
|
|
5,187,862 |
|
|
|
2.58 |
|
|
|
1.82 |
|
|
|
5,308,486 |
|
|
|
2.86 |
|
|
|
1.87 |
|
| |
Call money |
|
|
3,177,907 |
|
|
|
2.36 |
|
|
|
1.08 |
|
|
|
3,716,812 |
|
|
|
2.57 |
|
|
|
1.31 |
|
|
|
3,562,595 |
|
|
|
3.02 |
|
|
|
1.25 |
|
| |
Debentures |
|
|
24,966,578 |
|
|
|
3.80 |
|
|
|
8.52 |
|
|
|
22,072,602 |
|
|
|
4.31 |
|
|
|
7.76 |
|
|
|
21,002,427 |
|
|
|
5.17 |
|
|
|
7.39 |
|
| |
Other |
|
|
3,298,600 |
|
|
|
2.80 |
|
|
|
1.13 |
|
|
|
3,199,161 |
|
|
|
2.74 |
|
|
|
1.12 |
|
|
|
3,188,139 |
|
|
|
3.59 |
|
|
|
1.12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
|
|
225,421,933 |
|
|
|
2.40 |
|
|
|
76.93 |
|
|
|
216,287,012 |
|
|
|
2.69 |
|
|
|
76.03 |
|
|
|
216,646,441 |
|
|
|
3.30 |
|
|
|
76.25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Foreign currency |
|
Deposits |
|
|
5,087,884 |
|
|
|
0.52 |
|
|
|
1.74 |
|
|
|
5,172,485 |
|
|
|
0.79 |
|
|
|
1.82 |
|
|
|
5,289,517 |
|
|
|
0.97 |
|
|
|
1.86 |
|
|
Borrowings |
|
|
6,071,393 |
|
|
|
0.52 |
|
|
|
2.07 |
|
|
|
6,961,080 |
|
|
|
0.59 |
|
|
|
2.45 |
|
|
|
8,339,079 |
|
|
|
0.91 |
|
|
|
2.96 |
|
|
Call money |
|
|
985,695 |
|
|
|
0.30 |
|
|
|
0.34 |
|
|
|
961,747 |
|
|
|
0.41 |
|
|
|
0.34 |
|
|
|
1,224,909 |
|
|
|
0.55 |
|
|
|
0.43 |
|
|
Debentures |
|
|
3,082,838 |
|
|
|
2.74 |
|
|
|
1.05 |
|
|
|
3,248,259 |
|
|
|
7.33 |
|
|
|
1.14 |
|
|
|
3,549,616 |
|
|
|
4.96 |
|
|
|
1.25 |
|
|
Other |
|
|
212,797 |
|
|
|
1.14 |
|
|
|
0.07 |
|
|
|
260,195 |
|
|
|
1.14 |
|
|
|
0.09 |
|
|
|
203,426 |
|
|
|
1.34 |
|
|
|
0.07 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
|
|
|
|
15,440,607 |
|
|
|
0.96 |
|
|
|
5.27 |
|
|
|
16,603,766 |
|
|
|
1.97 |
|
|
|
5.84 |
|
|
|
18,666,547 |
|
|
|
1.68 |
|
|
|
6.57 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other |
|
Total shareholders’ equity |
|
|
26,872,801 |
|
|
|
— |
|
|
|
9.17 |
|
|
|
25,825,011 |
|
|
|
— |
|
|
|
9.08 |
|
|
|
24,431,702 |
|
|
|
— |
|
|
|
8.61 |
|
|
Allowances |
|
|
765,895 |
|
|
|
— |
|
|
|
0.26 |
|
|
|
736,008 |
|
|
|
— |
|
|
|
0.26 |
|
|
|
901,913 |
|
|
|
— |
|
|
|
0.32 |
|
|
Other |
|
|
24,543,634 |
|
|
|
— |
|
|
|
8.37 |
|
|
|
25,043,332 |
|
|
|
— |
|
|
|
8.79 |
|
|
|
23,452,276 |
|
|
|
— |
|
|
|
8.25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
|
|
|
|
52,182,330 |
|
|
|
— |
|
|
|
17.80 |
|
|
|
51,604,351 |
|
|
|
— |
|
|
|
18.13 |
|
|
|
48,785,891 |
|
|
|
— |
|
|
|
17.18 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
|
|
293,044,870 |
|
|
|
— |
|
|
|
100.00 |
|
|
|
284,495,129 |
|
|
|
— |
|
|
|
100.00 |
|
|
|
284,098,879 |
|
|
|
— |
|
|
|
100.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Based on K-IFRS (on a consolidated basis).
| (1) |
Restated to reflect adjustments resulting from retroactive application of a change in accounting policy with respect to uncertain tax positions. |
| (2) |
Restated as a result of retroactive application of the adoption of K-IFRS 1110 and an amendment to K-IFRS 1019. |
9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unit: in millions of Won, %) |
|
| |
|
|
|
For the year ended |
|
|
For the year ended |
|
|
For the year ended |
|
| |
|
|
|
December 31, 2014 |
|
|
December 31, 2013(1) |
|
|
December 31, 2012(2) |
|
| |
|
|
|
Average
Balance |
|
|
Interest Rate
(%) |
|
|
Ratio (%) |
|
|
Average
Balance |
|
|
Interest Rate
(%) |
|
|
Ratio (%) |
|
|
Average
Balance |
|
|
Interest Rate
(%) |
|
|
Ratio (%) |
|
| Won currency |
|
Due from banks |
|
|
6,534,133 |
|
|
|
2.56 |
|
|
|
2.23 |
|
|
|
4,921,197 |
|
|
|
2.75 |
|
|
|
1.73 |
|
|
|
3,978,175 |
|
|
|
3.66 |
|
|
|
1.40 |
|
| |
Securities |
|
|
43,889,573 |
|
|
|
3.81 |
|
|
|
14.98 |
|
|
|
45,223,896 |
|
|
|
3.63 |
|
|
|
15.90 |
|
|
|
45,292,632 |
|
|
|
4.39 |
|
|
|
15.94 |
|
| |
Loans |
|
|
195,609,187 |
|
|
|
4.16 |
|
|
|
66.75 |
|
|
|
186,666,145 |
|
|
|
4.62 |
|
|
|
65.61 |
|
|
|
188,233,803 |
|
|
|
5.43 |
|
|
|
66.27 |
|
| |
Guarantee payments under payment guarantee |
|
|
51,156 |
|
|
|
0.76 |
|
|
|
0.02 |
|
|
|
48,836 |
|
|
|
1.34 |
|
|
|
0.02 |
|
|
|
68,419 |
|
|
|
0.73 |
|
|
|
0.02 |
|
| |
Call loan |
|
|
642,821 |
|
|
|
2.35 |
|
|
|
0.22 |
|
|
|
1,113,932 |
|
|
|
2.76 |
|
|
|
0.39 |
|
|
|
1,581,952 |
|
|
|
3.20 |
|
|
|
0.56 |
|
| |
Private placement corporate bonds |
|
|
692,993 |
|
|
|
4.83 |
|
|
|
0.24 |
|
|
|
669,077 |
|
|
|
5.34 |
|
|
|
0.24 |
|
|
|
679,954 |
|
|
|
6.78 |
|
|
|
0.24 |
|
| |
Credit cards |
|
|
11,309,156 |
|
|
|
9.86 |
|
|
|
3.86 |
|
|
|
11,608,865 |
|
|
|
10.70 |
|
|
|
4.08 |
|
|
|
12,076,314 |
|
|
|
11.14 |
|
|
|
4.25 |
|
| |
Other |
|
|
8,231,500 |
|
|
|
5.47 |
|
|
|
2.81 |
|
|
|
7,005,212 |
|
|
|
5.75 |
|
|
|
2.45 |
|
|
|
4,881,932 |
|
|
|
6.00 |
|
|
|
1.72 |
|
| |
Allowance |
|
|
(2,844,954 |
) |
|
|
— |
|
|
|
(0.97 |
) |
|
|
(3,337,963 |
) |
|
|
— |
|
|
|
(1.17 |
) |
|
|
(3,514,211 |
) |
|
|
— |
|
|
|
(1.25 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
|
|
|
|
264,115,565 |
|
|
|
4.39 |
|
|
|
90.14 |
|
|
|
253,919,197 |
|
|
|
4.77 |
|
|
|
89.25 |
|
|
|
253,278,970 |
|
|
|
5.57 |
|
|
|
89.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Foreign currency |
|
Due from banks |
|
|
1,277,335 |
|
|
|
1.81 |
|
|
|
0.43 |
|
|
|
984,258 |
|
|
|
1.10 |
|
|
|
0.35 |
|
|
|
829,485 |
|
|
|
1.79 |
|
|
|
0.29 |
|
|
Securities |
|
|
815,219 |
|
|
|
3.17 |
|
|
|
0.28 |
|
|
|
1,039,047 |
|
|
|
2.38 |
|
|
|
0.37 |
|
|
|
1,237,230 |
|
|
|
3.06 |
|
|
|
0.44 |
|
|
Loans |
|
|
8,347,507 |
|
|
|
1.81 |
|
|
|
2.85 |
|
|
|
9,151,081 |
|
|
|
1.99 |
|
|
|
3.22 |
|
|
|
9,746,662 |
|
|
|
2.24 |
|
|
|
3.43 |
|
|
Call loan |
|
|
1,869,308 |
|
|
|
0.81 |
|
|
|
0.64 |
|
|
|
1,778,838 |
|
|
|
0.55 |
|
|
|
0.62 |
|
|
|
1,728,696 |
|
|
|
0.70 |
|
|
|
0.61 |
|
|
Bills bought |
|
|
2,232,263 |
|
|
|
1.30 |
|
|
|
0.76 |
|
|
|
2,357,512 |
|
|
|
1.46 |
|
|
|
0.83 |
|
|
|
2,931,390 |
|
|
|
1.97 |
|
|
|
1.03 |
|
|
Allowance |
|
|
(197,375 |
) |
|
|
— |
|
|
|
(0.07 |
) |
|
|
(166,194 |
) |
|
|
— |
|
|
|
(0.06 |
) |
|
|
(178,772 |
) |
|
|
— |
|
|
|
(0.06 |
) |
|
Other |
|
|
2,470 |
|
|
|
— |
|
|
|
0.00 |
|
|
|
2,354 |
|
|
|
— |
|
|
|
0.00 |
|
|
|
1,899 |
|
|
|
— |
|
|
|
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
|
|
|
|
14,346,727 |
|
|
|
1.70 |
|
|
|
4.89 |
|
|
|
15,146,896 |
|
|
|
1.73 |
|
|
|
5.33 |
|
|
|
16,296,590 |
|
|
|
2.09 |
|
|
|
5.74 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other |
|
Cash |
|
|
1,659,230 |
|
|
|
— |
|
|
|
0.57 |
|
|
|
1,629,765 |
|
|
|
— |
|
|
|
0.57 |
|
|
|
1,617,802 |
|
|
|
— |
|
|
|
0.57 |
|
|
Fixed assets held for business |
|
|
3,196,710 |
|
|
|
— |
|
|
|
1.09 |
|
|
|
3,190,345 |
|
|
|
— |
|
|
|
1.12 |
|
|
|
3,211,797 |
|
|
|
— |
|
|
|
1.13 |
|
|
Other |
|
|
9,726,638 |
|
|
|
— |
|
|
|
3.31 |
|
|
|
10,608,926 |
|
|
|
— |
|
|
|
3.73 |
|
|
|
9,693,720 |
|
|
|
— |
|
|
|
3.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
|
|
|
|
14,582,578 |
|
|
|
— |
|
|
|
4.97 |
|
|
|
15,492,036 |
|
|
|
— |
|
|
|
5.42 |
|
|
|
14,523,319 |
|
|
|
— |
|
|
|
5.11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
|
|
293,044,870 |
|
|
|
— |
|
|
|
100.00 |
|
|
|
284,495,129 |
|
|
|
— |
|
|
|
100.00 |
|
|
|
284,098,879 |
|
|
|
— |
|
|
|
100.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Based on K-IFRS (on a consolidated basis).
| (1) |
Restated to reflect adjustments resulting from retroactive application of a change in accounting policy with respect to uncertain tax positions. |
| (2) |
Restated as a result of retroactive application of the adoption of K-IFRS 1110 and an amendment to K-IFRS 1019. |
10
| 2.3. |
Other Information to Consider in Making an Investment Decision |
|
|
|
|
|
|
|
|
|
|
|
|
|
| KB Financial Group |
|
|
|
|
|
|
|
(Unit: in millions of Won, %) |
|
| |
|
As of December 31, 2014(1) |
|
|
As of December 31, 2013(1) |
|
|
As of December 31, 2012(2) |
|
| Total Capital (A) |
|
|
28,347,675 |
|
|
|
27,296,535 |
|
|
|
26,907,004 |
|
| Risk-weighted assets (B) |
|
|
182,485,957 |
|
|
|
177,514,060 |
|
|
|
193,510,143 |
|
| BIS ratio (A/B)(3) |
|
|
15.53 |
|
|
|
15.38 |
|
|
|
13.90 |
|
| * |
Note: Based on K-IFRS (on a consolidated basis). |
| (1) |
Calculated in accordance with Basel III |
| (2) |
Calculated in accordance with Basel I |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Kookmin Bank |
|
|
|
|
|
|
|
(Unit: in billions of Won, %) |
|
| |
|
As of December 31, 2014(1) |
|
|
As of December 31, 2013(1) |
|
|
As of December 31, 2012 (2) |
|
| Total Capital (A) |
|
|
23,422 |
|
|
|
22,624 |
|
|
|
21,391 |
|
| Risk-weighted assets (B) |
|
|
146,690 |
|
|
|
146,743 |
|
|
|
148,544 |
|
| BIS ratio (A/B) |
|
|
15.97 |
|
|
|
15.42 |
|
|
|
14.40 |
|
| (1) |
Calculated in accordance with Basel III |
| (2) |
Calculated in accordance with Basel II |
|
|
|
|
|
|
|
|
|
| Date of Rating |
|
Evaluated Securities |
|
Credit
Rating |
|
Company
(Ratings Range) |
|
Evaluation |
|
|
|
|
|
| 03/14/2014
03/14/2014 03/14/2014 |
|
Debentures
Debentures Debentures |
|
AAA
AAA AAA |
|
Korea Ratings (AAA ~ D)
KIS Ratings (AAA ~ D) NICE
Investors Service(2) (AAA ~ D) |
|
Stable
Stable Stable |
|
|
|
|
|
| 12/07/2011 |
|
Commercial Paper(1) |
|
A1 |
|
Korea Ratings (A1 ~ D)
KIS Ratings (A1 ~ D) NICE Investors
Service(2) (A1 ~ D) |
|
— |
| (1) |
Redeemed in full as of December 31, 2014. |
| (2) |
Formerly NICE Ratings. |
11
| 3.1. |
Consolidated Condensed Financial Information |
| |
3.1.1. |
Consolidated Statements of Financial Position |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
(Unit: in millions of Won) |
|
| |
|
As of December 31, 2014 |
|
|
As of December 31, 2013(1) |
|
|
As of December 31, 2012(2) |
|
| Cash and due from financial institutions |
|
|
15,423,847 |
|
|
|
14,792,654 |
|
|
|
10,592,605 |
|
| Financial assets at fair value through profit or loss |
|
|
10,757,910 |
|
|
|
9,328,742 |
|
|
|
9,559,719 |
|
| Derivative financial assets |
|
|
1,968,190 |
|
|
|
1,819,409 |
|
|
|
2,091,285 |
|
| Loans |
|
|
231,449,653 |
|
|
|
219,001,356 |
|
|
|
213,644,791 |
|
| Financial investments |
|
|
34,960,620 |
|
|
|
34,849,095 |
|
|
|
36,467,352 |
|
| Investments in associates |
|
|
670,332 |
|
|
|
755,390 |
|
|
|
934,641 |
|
| Property and equipment |
|
|
3,082,985 |
|
|
|
3,060,843 |
|
|
|
3,100,393 |
|
| Investment property |
|
|
377,544 |
|
|
|
166,259 |
|
|
|
52,974 |
|
| Intangible assets |
|
|
488,922 |
|
|
|
443,204 |
|
|
|
493,131 |
|
| Current income tax assets |
|
|
306,313 |
|
|
|
346,910 |
|
|
|
— |
|
| Deferred income tax assets |
|
|
15,562 |
|
|
|
15,422 |
|
|
|
18,432 |
|
| Assets held for sale |
|
|
70,357 |
|
|
|
37,718 |
|
|
|
35,412 |
|
| Other assets |
|
|
8,783,473 |
|
|
|
7,550,596 |
|
|
|
8,760,319 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
|
|
308,355,708 |
|
|
|
292,167,598 |
|
|
|
285,751,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Financial liabilities at fair value through profit or loss |
|
|
1,818,968 |
|
|
|
1,115,202 |
|
|
|
1,851,135 |
|
| Derivative financial liabilities |
|
|
1,797,390 |
|
|
|
1,795,339 |
|
|
|
2,054,742 |
|
| Deposits |
|
|
211,549,121 |
|
|
|
200,882,064 |
|
|
|
197,346,205 |
|
| Debts |
|
|
15,864,500 |
|
|
|
14,101,331 |
|
|
|
15,965,458 |
|
| Debentures |
|
|
29,200,706 |
|
|
|
27,039,534 |
|
|
|
24,270,212 |
|
| Provisions |
|
|
614,347 |
|
|
|
678,073 |
|
|
|
669,729 |
|
| Defined benefit liabilities |
|
|
75,684 |
|
|
|
64,473 |
|
|
|
83,723 |
|
| Current income tax liabilities |
|
|
231,907 |
|
|
|
211,263 |
|
|
|
264,666 |
|
| Deferred income tax liabilities |
|
|
93,211 |
|
|
|
61,816 |
|
|
|
154,303 |
|
| Other liabilities |
|
|
19,597,202 |
|
|
|
20,236,229 |
|
|
|
18,327,740 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities |
|
|
280,843,036 |
|
|
|
266,185,324 |
|
|
|
260,987,913 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Equity attributable to shareholders of the Company |
|
|
27,315,092 |
|
|
|
25,982,274 |
|
|
|
24,568,619 |
|
| Share capital |
|
|
1,931,758 |
|
|
|
1,931,758 |
|
|
|
1,931,758 |
|
| Capital surplus |
|
|
15,854,510 |
|
|
|
15,854,605 |
|
|
|
15,840,300 |
|
| Accumulated other comprehensive income |
|
|
461,679 |
|
|
|
336,312 |
|
|
|
295,142 |
|
| Retained earnings |
|
|
9,067,145 |
|
|
|
7,859,599 |
|
|
|
6,501,419 |
|
| Non-controlling interests |
|
|
197,580 |
|
|
|
— |
|
|
|
194,522 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total equity |
|
|
27,512,672 |
|
|
|
25,982,274 |
|
|
|
24,763,141 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities and equity |
|
|
308,355,708 |
|
|
|
292,167,598 |
|
|
|
285,751,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of consolidated companies |
|
|
112 |
|
|
|
100 |
|
|
|
93 |
|
| (1) |
Restated to reflect adjustments resulting from retroactive application of a change in accounting policy with respect to uncertain tax positions. |
| (2) |
Restated as a result of retroactive application of the adoption of K-IFRS 1110 and an amendment to K-IFRS 1019. |
12
| |
3.1.2. |
Consolidated Statements of Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
(Unit: in millions of Won, except per share amounts) |
|
| |
|
For the year ended
December 31, 2014 |
|
|
For the year ended
December 31, 2013(1) |
|
|
For the year ended
December 31, 2012(2) |
|
| Net interest income |
|
|
6,415,775 |
|
|
|
6,522,832 |
|
|
|
7,037,783 |
|
| Net fee and commission income |
|
|
1,382,729 |
|
|
|
1,479,239 |
|
|
|
1,566,706 |
|
| Net gains (losses) on financial assets/liabilities at fair value through profit or loss |
|
|
439,198 |
|
|
|
756,822 |
|
|
|
811,964 |
|
| Net other operating income (loss) |
|
|
(1,040,909 |
) |
|
|
(1,304,765 |
) |
|
|
(1,531,942 |
) |
| General and administrative expenses |
|
|
(4,009,694 |
) |
|
|
(3,983,564 |
) |
|
|
(3,845,610 |
) |
| Operating profit before provision for credit losses |
|
|
3,187,099 |
|
|
|
3,470,564 |
|
|
|
4,038,901 |
|
| Provision for credit losses |
|
|
(1,227,976 |
) |
|
|
(1,443,572 |
) |
|
|
(1,606,703 |
) |
| Net operating profit |
|
|
1,959,123 |
|
|
|
2,026,992 |
|
|
|
2,432,198 |
|
| Net non-operating profit(loss) |
|
|
(57,698 |
) |
|
|
(211,701 |
) |
|
|
(133,554 |
) |
| Profit before income tax |
|
|
1,901,425 |
|
|
|
1,815,291 |
|
|
|
2,298,644 |
|
| Income tax benefit (expense) |
|
|
(486,314 |
) |
|
|
(540,593 |
) |
|
|
(558,511 |
) |
| Profit for the period |
|
|
1,415,111 |
|
|
|
1,274,698 |
|
|
|
1,740,133 |
|
| Other comprehensive income (loss) for the year, net of tax |
|
|
123,863 |
|
|
|
26,902 |
|
|
|
144,719 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total comprehensive income for the year |
|
|
1,538,974 |
|
|
|
1,301,600 |
|
|
|
1,884,852 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Profit attributable to: |
|
|
1,415,111 |
|
|
|
1,274,698 |
|
|
|
1,740,133 |
|
| Shareholders of the parent company |
|
|
1,400,722 |
|
|
|
1,271,502 |
|
|
|
1,731,034 |
|
| Non-controlling interests |
|
|
14,389 |
|
|
|
3,196 |
|
|
|
9,099 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total comprehensive income for the year attributable to: |
|
|
1,538,974 |
|
|
|
1,301,600 |
|
|
|
1,884,852 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Shareholders of the parent company |
|
|
1,526,089 |
|
|
|
1,312,672 |
|
|
|
1,865,137 |
|
| Non-controlling interests |
|
|
12,885 |
|
|
|
(11,072 |
) |
|
|
19,715 |
|
| Earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share (Won) |
|
|
3,626 |
|
|
|
3,291 |
|
|
|
4,480 |
|
| Diluted earnings per share (Won) |
|
|
3,611 |
|
|
|
3,277 |
|
|
|
4,467 |
|
| (1) |
Restated as a result of retroactive application of a change in accounting policy with respect to uncertain tax positions. |
| (2) |
Restated as a result of retroactive application of the adoption of K-IFRS 1110 and an amendment to K-IFRS 1019 |
13
| 3.2. |
Separate Condensed Financial Information |
| |
3.2.1. |
Separate Statements of Financial Position |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
(Unit: in millions of Won) |
|
| |
|
As of December 31, 2014 |
|
|
As of December 31, 2013 |
|
|
As of December 31, 2012(1) |
|
| Cash and due from financial institutions |
|
|
30,739 |
|
|
|
77,298 |
|
|
|
96,234 |
|
| Loans |
|
|
10,000 |
|
|
|
10,000 |
|
|
|
25,000 |
|
| Investments in subsidiaries |
|
|
18,557,566 |
|
|
|
18,292,443 |
|
|
|
17,944,848 |
|
| Property and equipment |
|
|
514 |
|
|
|
642 |
|
|
|
351 |
|
| Intangible assets |
|
|
8,684 |
|
|
|
10,133 |
|
|
|
9,122 |
|
| Current income tax assets |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Deferred income tax assets |
|
|
4,089 |
|
|
|
4,203 |
|
|
|
3,800 |
|
| Other assets |
|
|
598,929 |
|
|
|
269,823 |
|
|
|
310,673 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total assets |
|
|
19,210,521 |
|
|
|
18,664,542 |
|
|
|
18,390,028 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debts |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Debentures |
|
|
628,837 |
|
|
|
349,157 |
|
|
|
— |
|
| Defined benefit liabilities |
|
|
803 |
|
|
|
1,433 |
|
|
|
1,384 |
|
| Current income tax liabilities |
|
|
222,639 |
|
|
|
209,928 |
|
|
|
257,535 |
|
| Other liabilities |
|
|
71,568 |
|
|
|
55,602 |
|
|
|
46,767 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities |
|
|
923,847 |
|
|
|
616,120 |
|
|
|
305,686 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Share capital |
|
|
1,931,758 |
|
|
|
1,931,758 |
|
|
|
1,931,758 |
|
| Capital surplus |
|
|
13,513,809 |
|
|
|
13,513,809 |
|
|
|
13,513,809 |
|
| Accumulated other comprehensive income |
|
|
(4,238 |
) |
|
|
(2,715 |
) |
|
|
(2,780 |
) |
| Retained earnings |
|
|
2,845,345 |
|
|
|
2,605,570 |
|
|
|
2,641,555 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total equity |
|
|
18,286,674 |
|
|
|
18,048,422 |
|
|
|
18,084,342 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Liabilities and Equity |
|
|
19,210,521 |
|
|
|
18,664,542 |
|
|
|
18,390,028 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Restated as a result of retroactive application of an amendment to K-IFRS 1019. |
14
| |
3.2.2. |
Separate Statements of Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (Unit: in millions of Won, except per share amounts) |
|
| |
|
For the year ended
December 31, 2014 |
|
|
For the year ended
December 31, 2013 |
|
|
For the year ended
December 31, 2012(1) |
|
| Net interest income (expense) |
|
|
(16,758 |
) |
|
|
(1,368 |
) |
|
|
2,993 |
|
| Net fee and commission expense |
|
|
(6,658 |
) |
|
|
(6,270 |
) |
|
|
(4,130 |
) |
| Net other operating income |
|
|
493,782 |
|
|
|
245,044 |
|
|
|
687,925 |
|
| General and administrative expenses |
|
|
(36,342 |
) |
|
|
(40,657 |
) |
|
|
(40,459 |
) |
| Operating profit before provision for credit losses |
|
|
434,024 |
|
|
|
196,749 |
|
|
|
646,329 |
|
| Provision for credit losses |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Operating profit (loss) |
|
|
434,024 |
|
|
|
196,749 |
|
|
|
646,329 |
|
| Net non-operating income(expense) |
|
|
(473 |
) |
|
|
(1,346 |
) |
|
|
(312 |
) |
| Profit (loss) before tax |
|
|
433,551 |
|
|
|
195,403 |
|
|
|
646,017 |
|
| Income tax benefit |
|
|
(600 |
) |
|
|
423 |
|
|
|
1,080 |
|
| Profit (loss) for the period |
|
|
432,951 |
|
|
|
195,826 |
|
|
|
647,097 |
|
| Other comprehensive income (loss) for the period, net of tax |
|
|
(1,523 |
) |
|
|
65 |
|
|
|
(862 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total comprehensive income (loss) for the period |
|
|
431,428 |
|
|
|
195,891 |
|
|
|
646,235 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings (loss) per share |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic earnings (loss) per share (Won) |
|
|
1,121 |
|
|
|
507 |
|
|
|
1,675 |
|
| Diluted earnings (loss) per share (Won) |
|
|
1,116 |
|
|
|
505 |
|
|
|
1,670 |
|
| (1) |
Restated as a result of retroactive application of an amendment to K-IFRS 1019. |
15
| 3.3. |
Other Selected Financial Data |
| |
3.3.1. |
Won-denominated Liquidity Ratio |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
(Unit: in billions of Won, %) |
|
| Category |
|
2014 |
|
|
2013 |
|
|
2012 |
|
| Current assets in Won (A) |
|
|
30.8 |
|
|
|
77.6 |
|
|
|
96.2 |
|
| Current liabilities in Won (B) |
|
|
2.2 |
|
|
|
1.3 |
|
|
|
1.6 |
|
| Current ratio (A/B) |
|
|
1,417.54 |
% |
|
|
5,934.85 |
% |
|
|
6,100.82 |
% |
Notes:
| • |
|
Based on K-IFRS (on a separate basis). |
| • |
|
Calculated based on Won-denominated assets and liabilities due within one month (in accordance with an amendment to the Financial Holding Company Act). |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
(Unit: %) |
|
| Category |
|
2014 |
|
|
2013(1) |
|
|
2012(2) |
|
| Net income as a percentage of average total assets |
|
|
0.47 |
|
|
|
0.44 |
|
|
|
0.60 |
|
| Net income as a percentage of average shareholders’ equity |
|
|
5.26 |
|
|
|
5.02 |
|
|
|
7.26 |
|
Note: Based on K-IFRS (on a consolidated basis).
| (1) |
Restated as a result of retroactive application of a change in accounting policy with respect to uncertain tax positions. |
| (2) |
Restated as a result of retroactive application of the adoption of K-IFRS 1110 and an amendment to K-IFRS 1019. |
16
| |
3.3.3. |
20 Largest Exposures of Kookmin Bank by Borrower |
|
|
|
|
|
| |
|
(As of December 31, 2014) |
|
| Company |
|
Credit extended * |
|
| |
|
(Unit: in billions of Won) |
|
|
|
| Hyundai Heavy Industries Co., Ltd. |
|
|
908 |
|
|
|
| Hyundai Steel Co., Ltd. |
|
|
782 |
|
|
|
| Daewoo Shipbuilding & Marine Engineering Co., Ltd. |
|
|
755 |
|
|
|
| LG Electronics Inc. |
|
|
688 |
|
|
|
| Samsung Display Co., Ltd. |
|
|
665 |
|
|
|
| GS Caltex Corporation |
|
|
659 |
|
|
|
| KT Corporation |
|
|
649 |
|
|
|
| Samsung Heavy Industries Co., Ltd. |
|
|
612 |
|
|
|
| Hyundai Capital Services, Inc. |
|
|
582 |
|
|
|
| Samsung Electronics Co., Ltd. |
|
|
479 |
|
|
|
| Hyundai Motor Company |
|
|
478 |
|
|
|
| SK Energy Co., Ltd. |
|
|
462 |
|
|
|
| Daewoo International Corporation |
|
|
445 |
|
|
|
| Korea Securities Finance Corp. |
|
|
382 |
|
|
|
| Bank of Communications Co., Ltd. |
|
|
374 |
|
|
|
| Kia Motors Corp. |
|
|
367 |
|
|
|
| LS-Nikko Copper Inc. |
|
|
355 |
|
|
|
| S-Oil Corporation |
|
|
350 |
|
|
|
| Bank of China Limited |
|
|
346 |
|
|
|
| CJ CheilJedang Corporation |
|
|
337 |
|
|
|
|
|
|
|
|
| Total |
|
|
10,675 |
|
|
|
|
|
|
| * |
Calculated in accordance with the Detailed Regulations on Supervision of Banking Business. |
17
| |
3.3.4. |
10 Largest Exposures of Kookmin Bank by Chaebol Group |
|
|
|
|
|
| |
|
(As of December 31, 2014) |
|
| Group |
|
Credit extended * |
|
| |
|
(Unit: in billions of Won) |
|
|
|
| Hyundai Motor |
|
|
3,896 |
|
|
|
| Samsung |
|
|
3,647 |
|
|
|
| SK |
|
|
2,353 |
|
|
|
| LG |
|
|
1,679 |
|
|
|
| Hyundai Heavy Industries |
|
|
1,576 |
|
|
|
| POSCO |
|
|
1,282 |
|
|
|
| GS |
|
|
1,183 |
|
|
|
| Hanwha |
|
|
894 |
|
|
|
| Lotte |
|
|
842 |
|
|
|
| Daewoo Shipbuilding & Marine Engineering |
|
|
780 |
|
|
|
|
|
|
|
|
| Total |
|
|
18,132 |
|
|
|
|
|
|
| * |
Calculated in accordance with the Detailed Regulations on Supervision of Banking Business. |
| |
3.3.5. |
Kookmin Bank’s Loan Concentration by Industry |
|
|
|
|
|
|
|
|
|
| |
|
(As of December 31, 2014) |
|
| Industry |
|
Total Credit |
|
|
Percentage of
Total Credit |
|
| |
|
(Unit: in billions of Won, %) |
|
|
|
|
| Manufacturing |
|
|
35,305 |
|
|
|
35.7 |
|
|
|
|
| Construction |
|
|
4,441 |
|
|
|
4.5 |
|
|
|
|
| Real estate |
|
|
17,283 |
|
|
|
17.5 |
|
|
|
|
| Retail and wholesale |
|
|
14,479 |
|
|
|
14.6 |
|
|
|
|
| Hotel, lodging and food service |
|
|
6,347 |
|
|
|
6.5 |
|
|
|
|
| Financial institutions |
|
|
1,693 |
|
|
|
1.7 |
|
|
|
|
| Other |
|
|
19,286 |
|
|
|
19.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
98,834 |
|
|
|
100.00 |
|
|
|
|
|
|
|
|
|
|
18
| |
3.3.6. |
Top 20 Non-Performing Loans of Kookmin Bank |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
(As of December 31, 2014) |
|
| |
|
Industry |
|
Total Credit |
|
|
Allowance
for Loan Losses |
|
| |
|
(Unit: in billions of Won) |
|
|
|
|
|
| Borrower A |
|
Shipbuilding |
|
|
119 |
|
|
|
43 |
|
|
|
|
|
| Borrower B |
|
Construction |
|
|
107 |
|
|
|
63 |
|
|
|
|
|
| Borrower C |
|
Shipbuilding |
|
|
81 |
|
|
|
27 |
|
|
|
|
|
| Borrower D |
|
Construction |
|
|
67 |
|
|
|
48 |
|
|
|
|
|
| Borrower E |
|
Real estate and leasing |
|
|
61 |
|
|
|
7 |
|
|
|
|
|
| Borrower F |
|
Construction |
|
|
60 |
|
|
|
63 |
|
|
|
|
|
| Borrower G |
|
Manufacturing |
|
|
53 |
|
|
|
30 |
|
|
|
|
|
| Borrower H |
|
Finance and insurance |
|
|
48 |
|
|
|
47 |
|
|
|
|
|
| Borrower I |
|
Construction |
|
|
42 |
|
|
|
41 |
|
|
|
|
|
| Borrower J |
|
Construction |
|
|
42 |
|
|
|
33 |
|
|
|
|
|
| Borrower K |
|
Manufacturing |
|
|
42 |
|
|
|
34 |
|
|
|
|
|
| Borrower L |
|
Construction |
|
|
28 |
|
|
|
29 |
|
|
|
|
|
| Borrower M |
|
Real estate and leasing |
|
|
25 |
|
|
|
4 |
|
|
|
|
|
| Borrower N |
|
Real estate and leasing |
|
|
25 |
|
|
|
2 |
|
|
|
|
|
| Borrower O |
|
Manufacturing |
|
|
25 |
|
|
|
0 |
|
|
|
|
|
| Borrower P |
|
Real estate and leasing |
|
|
24 |
|
|
|
8 |
|
|
|
|
|
| Borrower Q |
|
Shipping |
|
|
22 |
|
|
|
3 |
|
|
|
|
|
| Borrower R |
|
Shipping |
|
|
22 |
|
|
|
3 |
|
|
|
|
|
| Borrower S |
|
Arts, sports and recreation related services |
|
|
21 |
|
|
|
21 |
|
|
|
|
|
| Borrower T |
|
Shipbuilding |
|
|
21 |
|
|
|
17 |
|
|
|
|
|
| Total |
|
|
|
|
935 |
|
|
|
523 |
|
| 3.4. |
Other Financial Information |
See Form 6-K filed by the Company on March 12, 2015, which contains
the Company’s audited consolidated and separate financial statements and relevant notes as of and for the years ended December 31, 2013 and 2014 which have been prepared in accordance with K-IFRS. The Company’s audited consolidated
and separate financial statements are also available on its website, www.kbfg.com.
19
| 4. |
Independent Public Accountants |
Audit / Review Services
|
|
|
|
|
|
|
|
|
|
|
|
|
| Period |
|
Auditor |
|
Activity |
|
Compensation(1)
(in millions of Won) |
|
|
Accrued Time
(hours) |
|
| January 1 to December 31, 2014 |
|
Samil
PricewaterhouseCoopers |
|
Quarterly / first half and
annual review & audit,
review of internal
accounting
management system |
|
|
732 |
|
|
|
9,869 |
|
| January 1 to December 31, 2013 |
|
Samil
PricewaterhouseCoopers |
|
Quarterly / first half and
annual review & audit,
review of internal
accounting
management system |
|
|
646 |
|
|
|
9,940 |
|
| January 1 to December 31, 2012 |
|
Samil
PricewaterhouseCoopers |
|
Quarterly / first half and
annual review & audit,
review of internal
accounting
management system |
|
|
610 |
|
|
|
9,516 |
|
| (1) |
Excluding value-added taxes. |
Public Company Accounting Oversight Board (“PCAOB”) Audit Services
|
|
|
|
|
|
|
|
|
|
|
| Period |
|
Auditor |
|
Activity |
|
Service Period |
|
Compensation
(in millions of Won) |
|
| January 1 to December 31, 2014 |
|
Samil
PricewaterhouseCoopers |
|
PCAOB audit of consolidated financial statements and internal control over financial reporting |
|
May 1, 2014 to April 30, 2015 |
|
|
487 |
|
| January 1 to December 31, 2013 |
|
Samil
PricewaterhouseCoopers |
|
PCAOB audit of consolidated financial statements and internal control over financial reporting |
|
May 1, 2013 to April 30, 2014 |
|
|
573 |
|
| January 1 to December 31, 2012 |
|
Samil
PricewaterhouseCoopers |
|
PCAOB audit of consolidated financial statements and internal control over financial reporting |
|
May 1, 2012 to April 30, 2013 |
|
|
540 |
|
20
| 5. |
Corporate Governance and Affiliated Companies |
| 5.1. |
Board of Directors & Committees under the Board |
As of December 31, 2014, the board of
directors consisted of one executive director and seven non-executive directors. The following committees currently serve under our board of directors:
| |
• |
|
Board Steering Committee |
| |
• |
|
Management Strategy Committee |
| |
• |
|
Risk Management Committee |
| |
• |
|
Evaluation & Compensation Committee |
| |
• |
|
Non-Executive Director Nominating Committee |
| |
• |
|
Audit Committee Member Nominating 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.
| 5.3. |
Compensation to Directors |
| |
5.3.1. |
Compensation to Directors (including Non-executive Directors) and Audit Committee Members |
Total Amount Approved at the Meeting of Shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
(Unit: in millions of Won) |
|
| |
|
Total
number
of
persons (1) |
|
|
Total amount
approved at
shareholders’
meeting(1) |
|
|
Notes |
|
| Registered Directors (including non-executive directors and audit committee members) |
|
|
10(9) |
|
|
|
2,500 |
|
|
|
— |
|
| (1) |
Represents the aggregate amount for all directors (including non-executive directors). Excludes long-term incentives. |
21
Total Amount Paid as of December 31, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
(Unit: in millions of Won) |
|
| |
|
Total number of
persons(1) |
|
|
Total payment (2)(4)(5)(6)(7) |
|
|
Average
payment
per person (3) |
|
|
Total amount of
fair value of
stock options |
|
|
Notes |
|
| Registered Directors (excluding non-executive directors) |
|
|
1 |
|
|
|
812 |
|
|
|
812 |
|
|
|
— |
|
|
|
— |
|
| Non-executive Directors (excluding audit committee members) |
|
|
4 |
|
|
|
323 |
|
|
|
85 |
|
|
|
— |
|
|
|
— |
|
| Audit committee members or internal auditor |
|
|
3 |
|
|
|
423 |
|
|
|
88 |
|
|
|
— |
|
|
|
— |
|
| Total |
|
|
8 |
|
|
|
1,558 |
|
|
|
162 |
|
|
|
— |
|
|
|
— |
|
| (1) |
Represents the total number of applicable persons as of December 31, 2014. |
| (2) |
Represents the total amount paid (rounded to the nearest million) for the year ended December 31, 2014. |
| (3) |
Represents (i) the total amount paid (rounded to the nearest million) for the year ended December 31, 2014, divided by (ii) the annualized number of applicable persons. |
| (4) |
Payment subject to the Company’s internal policies on compensation to directors. |
| (5) |
Includes performance based short-term incentive payment of Won 218 million, which was made in the first quarter of 2014 with respect to services performed in 2013. |
| (6) |
In addition to the total payments as presented in the above table, Won 115 million in cash was paid to Mr. Jae Mok Cho, former non-executive director of KB Financial Group, for 3,090 shares of stock grants
that were provided to Mr. Cho in 2009. (Pursuant to the Best Practice Guidelines for Outside Directors of Banking Institutions, performance-based compensation to non-executive directors, including stock grants, has been prohibited since 2010.)
|
| (7) |
In addition to the total payments as presented in the above table, we recorded Won 991 million in our income statement for the year ended December 31, 2014 with respect to performance-based stock grants, the
payment and amount of which are determined in accordance with the performance of the grantees. |
| |
(i) |
Stock grants were measured at fair value using the Monte Carlo Simulation Model and the following assumptions were used in fair value measurements: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
(Unit: in Won) |
| Series |
|
Expected exercise period
(Years) |
|
Risk free rate (%) |
|
|
Fair value (Market
performance condition) |
|
|
Fair value (Non-market
performance condition) |
| Series 11 |
|
1.53~4.53 |
|
|
2.08 |
|
|
|
35,335 |
|
|
36,639~36,858 |
| |
(ii) |
Expected volatility is based on the historical volatility of the stock price over the most recent period that is generally commensurate with the expected term of the grant. The current stock price as of
December 31, 2014 was used as the underlying asset price in estimating fair value. In addition, the average three-year historical dividend rate was used as the expected dividend rate in measuring fair value. |
Compensation – Individual Basis
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
(Unit: in millions of Won) |
|
| Name |
|
Position |
|
Total
Compensation(1) |
|
|
Additional
Compensation(2) |
|
| Young Rok Lim |
|
Former Chairman and Chief
Executive Officer |
|
|
766 |
|
|
|
— |
|
| (1) |
Includes performance based short-term incentive payments made in the first quarter of 2014 with respect to services performed in 2013. |
22
Standard and Method for Calculating Compensation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
(Unit: in millions of Won) |
| Name |
|
Position |
|
Amount |
|
|
Standard and Method for
Calculating Compensation |
| Young Rok Lim
(Former Chairman and Chief Executive Officer) |
|
|
Compensation |
|
|
Salary |
|
|
548 |
|
|
- |
|
Total compensation amount determined by the Evaluation & Compensation Committee, based on internal policies on compensation to directors, was divided by 12 and paid monthly. |
| |
|
Bonus |
|
|
218 |
|
|
- |
|
Pursuant to the management compensation system and annual compensation plan as determined by the Evaluation & Compensation Committee, a bonus payment, calculated by applying a payment rate (0% - 100%) determined by
performance evaluation results for fiscal year 2013, was made in the first quarter of 2014. |
| |
|
|
|
|
|
|
|
|
|
|
— |
|
Both financial indicators (e.g. ROE and ROA) and non-financial indicators are used in performance evaluation. |
| |
|
Retirement benefit |
|
|
— |
|
|
|
|
- N/A |
|
|
|
Other |
|
|
— |
|
|
|
|
- N/A |
5.4. Affiliated Companies
| |
5.4.1. |
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, 2014 are as follows.
| |
• |
|
KB Kookmin Card Co., Ltd. (100.00%) |
| |
• |
|
KB Investment & Securities Co., Ltd. (100.00%) |
| |
• |
|
KB Life Insurance Co., Ltd. (100.00%) |
| |
• |
|
KB Asset Management Co., Ltd. (100.00%) |
| |
• |
|
KB Capital Co., Ltd. (52.02%) |
| |
• |
|
KB Savings Bank Co., Ltd. (100.00%) |
| |
• |
|
KB Real Estate Trust Co., Ltd. (100.00%) |
| |
• |
|
KB Investment Co., Ltd. (100.00%) |
| |
• |
|
KB Credit Information Co., Ltd. (100.00%) |
| |
• |
|
KB Data Systems Co., Ltd. (100.00%) |
23
| 6. |
Directors, Senior Management and Employees |
6.1. Executive
Directors
As of March 27, 2015, we had one executive director. The name and position of our executive director and the number of shares of KB
Financial Group’s common stock he owned as of March 27, 2015 are set forth below.
|
|
|
|
|
|
|
|
|
| Name |
|
Date of Birth |
|
Position |
|
Common Shares Owned |
|
| Jong Kyoo Yoon |
|
October 1955 |
|
Chairman & Chief Executive Officer |
|
|
5,300 |
|
6.2. Non-standing Directors
As of March 27, 2015, we had one non-standing director. The name and position of our non-standing director and the number of shares of KB Financial
Group’s common stock he owned as of March 27, 2015 are set forth below.
|
|
|
|
|
|
|
|
|
| Name |
|
Date of Birth |
|
Position |
|
Common Shares Owned |
|
| Hong Lee |
|
April 1958 |
|
Non-standing Director |
|
|
459 |
|
6.3. Non-executive Directors
Our non-executive directors and the number of shares of KB Financial Group’s common stock they respectively owned as of March 27, 2015 are as
follows.
|
|
|
|
|
|
|
|
|
| Name |
|
Date of Birth |
|
Position |
|
Common Shares Owned |
|
| Young Hwi Choi |
|
October 1945 |
|
Non-executive
Director |
|
|
— |
|
| Woon Youl Choi |
|
April 1950 |
|
Non-executive
Director |
|
|
— |
|
| Suk Ryul Yoo |
|
April 1950 |
|
Non-executive
Director |
|
|
— |
|
| Michael Byungnam Lee |
|
September 1954 |
|
Non-executive
Director |
|
|
— |
|
| Jae Ha Park |
|
November 1957 |
|
Non-executive
Director |
|
|
— |
|
| Eunice Kyonghee Kim |
|
March 1959 |
|
Non-executive
Director |
|
|
— |
|
| Jongsoo Han |
|
October 1960 |
|
Non-executive
Director |
|
|
— |
|
24
6.4. Senior Management
In addition to our executive director who is also our executive officer, we currently have the following ten executive officers as of March 27, 2015.
|
|
|
|
|
|
|
|
|
| Name |
|
Date of Birth |
|
Position |
|
Common Shares Owned |
|
| Jong-Hee Yang |
|
June 1961 |
|
Deputy President (Financial Planning, Investor Relations and Human Resources) |
|
|
914 |
|
| Jeong Rim Park |
|
November 1963 |
|
Deputy President (Risk Management) |
|
|
540 |
|
| Ki Heon Kim |
|
October 1955 |
|
Deputy President (Digital Finance) |
|
|
— |
|
| Jae-Hong Park |
|
April 1967 |
|
Senior Managing Director (Marketing & Synergy Planning, Strategic Planning and KB Research) |
|
|
— |
|
| Ki-Bum Lee |
|
November 1957 |
|
Senior Managing Director (Audit and Information Security) |
|
|
600 |
|
| Young Tae Park |
|
December 1961 |
|
Managing Director & Head of Marketing & Synergy Planning Department |
|
|
450 |
|
| Kyu Sul Choi |
|
August 1960 |
|
Managing Director & Head of Investor Relations Department |
|
|
1,506 |
|
| Kyung Yup Cho |
|
September 1961 |
|
Managing Director & Head of KB Research |
|
|
500 |
|
| Ki Hwan Kim |
|
March 1963 |
|
Managing Director & Head of Public Relations |
|
|
321 |
|
| Minkyu Chung |
|
February 1970 |
|
Managing Director & Chief Compliance Officer |
|
|
2 |
|
Notes: Change in Senior Management after the reporting period
| • |
|
As of January 1, 2015, Jae-Hong Park was newly appointed as a senior managing director and Young Tae Park was newly appointed as a managing director. As of January 9, 2015, Ki Heon Kim was newly appointed as a
deputy president and Ki Hwan Kim was newly appointed as a managing director. As of January 13, 2015, Jeong Rim Park was newly appointed as a deputy president. As of March 27, 2015, Hong Lee was newly appointed as a non-standing director.
|
6.5. Employees
The following table shows the breakdown of our employees as of December 31, 2014.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
(Unit: in millions of Won) |
|
| |
|
Number of
Employees |
|
|
Average Tenure of
Employees (months) |
|
|
Total Payment |
|
|
Average Payment
per Person (1) |
|
| Total |
|
|
168 |
|
|
|
31 months |
|
|
|
17,102 |
|
|
|
102 |
|
| (1) |
Represents (i) the total amount paid for the year ended December 31, 2014 divided by (ii) the total number of employees as of December 31, 2014. |
| 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 as of December 31, 2014.
|
|
|
|
|
|
|
|
|
| |
|
(Unit: shares, %) |
|
| Name |
|
Number of
Shares of
Common
Stock |
|
|
Percentage
of Total
Issued
Shares |
|
| Korean National Pension Service |
|
|
36,383,211 |
|
|
|
9.42 |
|
| The Bank of New York Mellon Corporation(1) |
|
|
32,474,273 |
|
|
|
8.41 |
|
| (1) |
Depositary under the Company’s ADR program. |
25
| 7.2. |
Changes in the Largest Shareholder |
|
|
|
|
|
|
|
|
|
|
|
|
|
| (As of December 31, 2014) |
|
(Unit: shares, %) |
|
| Name of Largest Shareholder |
|
Date of Change in Largest
Shareholder/
Date of Change in Ownership
Level |
|
|
Number of Shares of Common
Stock |
|
|
Percentage of Total
Issued Shares(1) |
|
| Korean National Pension Service |
|
|
September 30, 2008 |
|
|
|
17,910,781 |
|
|
|
5.03 |
|
| ING Bank N.V. |
|
|
October 20, 2008 |
|
|
|
18,045,337 |
|
|
|
5.06 |
|
| Korean National Pension Service |
|
|
October 31, 2008 |
|
|
|
21,675,810 |
|
|
|
6.08 |
|
| Korean National Pension Service |
|
|
December 31, 2008 |
|
|
|
23,284,404 |
|
|
|
6.53 |
|
| Korean National Pension Service |
|
|
February 4, 2009 |
|
|
|
23,271,087 |
|
|
|
6.53 |
|
| Korean National Pension Service |
|
|
March 27, 2009 |
|
|
|
22,548,541 |
|
|
|
6.33 |
|
| Korean National Pension Service |
|
|
May 29, 2009 |
|
|
|
19,653,362 |
|
|
|
5.52 |
|
| Korean National Pension Service |
|
|
July 27, 2009 |
|
|
|
19,673,220 |
|
|
|
5.52 |
|
| Korean National Pension Service |
|
|
September 2, 2009 |
|
|
|
21,199,372 |
|
|
|
5.49 |
|
| Korean National Pension Service |
|
|
December 7, 2009 |
|
|
|
20,321,051 |
|
|
|
5.26 |
|
| Korean National Pension Service |
|
|
December 31, 2009 |
|
|
|
20,046,217 |
|
|
|
5.19 |
|
| ING Bank N.V. |
|
|
January 22, 2010 |
|
|
|
19,401,044 |
|
|
|
5.02 |
|
| Korean National Pension Service |
|
|
July 8, 2011 |
|
|
|
23,650,699 |
|
|
|
6.12 |
|
| Korean National Pension Service |
|
|
December 31, 2011 |
|
|
|
26,510,171 |
|
|
|
6.86 |
|
| Korean National Pension Service |
|
|
March 14, 2012 |
|
|
|
27,894,880 |
|
|
|
7.22 |
|
| Korean National Pension Service |
|
|
August 1, 2012 |
|
|
|
31,817,770 |
|
|
|
8.24 |
|
| Korean National Pension Service |
|
|
December 31, 2012 |
|
|
|
33,158,257 |
|
|
|
8.58 |
|
| Korean National Pension Service |
|
|
June 12, 2013 |
|
|
|
34,479,641 |
|
|
|
8.92 |
|
| Korean National Pension Service |
|
|
July 23, 2013 |
|
|
|
35,699,841 |
|
|
|
9.24 |
|
| Korean National Pension Service |
|
|
December 31, 2013 |
|
|
|
38,476,974 |
|
|
|
9.96 |
|
| Korean National Pension Service |
|
|
October 14, 2014 |
|
|
|
36,750,987 |
|
|
|
9.51 |
|
| Korean National Pension Service |
|
|
December 31, 2014 |
|
|
|
36,383,211 |
|
|
|
9.42 |
|
Note: The date of change in largest shareholder / change in ownership level is the date as indicated on the public
filing disclosing relevant changes in shareholdings in the Company.
| (1) |
Based on 386,351,693 total issued shares of common stock for dates on or after September 2, 2009, and 356,351,693 total issued shares of common stock for dates on or prior to July 27, 2009. |
26
| 7.3. |
Employee Stock Ownership Association |
|
|
|
|
|
|
|
| (As of December 31, 2014) |
|
(Unit: shares) |
| Company Name |
|
Number of shares |
|
|
Type of shares |
| KB Financial Group Inc. |
|
|
15,519 |
|
|
Common Stock |
| Kookmin Bank |
|
|
2,264,452 |
|
|
Common Stock |
| KB Kookmin Card Co., Ltd. |
|
|
104,183 |
|
|
Common Stock |
| KB Investment & Securities Co., Ltd. |
|
|
15,547 |
|
|
Common Stock |
| KB Life Insurance Co., Ltd. |
|
|
14,309 |
|
|
Common Stock |
| KB Asset Management Co., Ltd. |
|
|
4,292 |
|
|
Common Stock |
| KB Capital Co., Ltd. |
|
|
— |
|
|
— |
| KB Savings Bank Co., Ltd. |
|
|
1,017 |
|
|
Common Stock |
| KB Real Estate Trust Co., Ltd. |
|
|
8,818 |
|
|
Common Stock |
| KB Investment Co., Ltd. |
|
|
2,704 |
|
|
Common Stock |
| KB Credit Information Co., Ltd. |
|
|
8,883 |
|
|
Common Stock |
| KB Data Systems Co., Ltd. |
|
|
12,357 |
|
|
Common Stock |
|
|
|
|
|
|
|
| Total |
|
|
2,452,081 |
|
|
Common Stock |
|
|
|
|
|
|
|
| 7.4. |
Investments in Certain Affiliated Companies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (As of December 31, 2014) |
|
|
(Units: shares, millions of Won, %) |
|
| Name |
|
Ending Balance |
|
|
Total Assets as of
the latest fiscal
year(1) |
|
|
Net Income (loss)
for the latest
fiscal year(1) |
|
| |
Number of
shares |
|
|
Shareholding
percentage |
|
|
Book value |
|
|
|
| Kookmin Bank |
|
|
404,379,116 |
|
|
|
100 |
|
|
|
14,821,721 |
|
|
|
271,252,645 |
|
|
|
1,065,927 |
|
| KB Kookmin Card Co., Ltd. |
|
|
92,000,000 |
|
|
|
100 |
|
|
|
1,953,175 |
|
|
|
15,886,762 |
|
|
|
333,140 |
|
| KB Investment & Securities Co., Ltd. |
|
|
31,588,314 |
|
|
|
100 |
|
|
|
507,212 |
|
|
|
4,063,316 |
|
|
|
25,792 |
|
| KB Life Insurance Co., Ltd. |
|
|
91,200,000 |
|
|
|
100 |
|
|
|
485,314 |
|
|
|
7,679,188 |
|
|
|
8,640 |
|
| KB Asset Management Co., Ltd. |
|
|
7,667,550 |
|
|
|
100 |
|
|
|
96,312 |
|
|
|
249,483 |
|
|
|
49,560 |
|
| KB Capital Co., Ltd. (2) |
|
|
11,180,630 |
|
|
|
52.02 |
|
|
|
279,870 |
|
|
|
4,047,444 |
|
|
|
32,638 |
|
| KB Savings Bank Co., Ltd.(3) |
|
|
8,001,912 |
|
|
|
100 |
|
|
|
157,544 |
|
|
|
765,113 |
|
|
|
(20,665 |
) |
| KB Real Estate Trust Co., Ltd. |
|
|
16,000,000 |
|
|
|
100 |
|
|
|
121,553 |
|
|
|
204,888 |
|
|
|
14,818 |
|
| KB Investment Co., Ltd. |
|
|
8,951,797 |
|
|
|
100 |
|
|
|
104,910 |
|
|
|
146,996 |
|
|
|
5,340 |
|
| KB Credit Information Co., Ltd. |
|
|
1,252,400 |
|
|
|
100 |
|
|
|
23,621 |
|
|
|
28,805 |
|
|
|
(1,605 |
) |
| KB Data Systems Co., Ltd. |
|
|
800,000 |
|
|
|
100 |
|
|
|
6,334 |
|
|
|
31,397 |
|
|
|
367 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
— |
|
|
|
— |
|
|
|
18,557,566 |
|
|
|
304,356,037 |
|
|
|
1,513,952 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Based on K-IFRS (on a separate basis), other than amounts for KB Savings Bank Co., Ltd., which were prepared in accordance with generally accepted accounting principles in Korea (K-GAAP) and were as of June 30,
2014. The fiscal year of KB Savings Bank Co., Ltd. ends on June 30 of each year. |
| (2) |
KB Capital Co., Ltd. was added as a first-tier subsidiary on March 20, 2014 |
| (3) |
Yehansoul Savings Bank Co., Ltd. was added as a first-tier subsidiary on September 2, 2013, and merged into KB Savings Bank Co., Ltd. on January 13, 2014. |
| 7.5. |
Related Party Transactions |
Prepayments and Loans to
Subsidiaries (Unit: in billions of Won)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Name |
|
Relationship |
|
Account |
|
Loan
Amount |
|
|
Current
Balance |
|
|
Interest Rate |
|
|
Maturity |
| KB Investment Co., Ltd. |
|
Subsidiary |
|
Loans |
|
|
20 |
|
|
|
10 |
|
|
|
CD 3M + 94 bps |
|
|
June 29, 2015 |
27
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 31, 2015 |
|
|
|
By: /s/ Jong-Hee Yang |
|
|
|
|
|
|
|
(Signature) |
|
|
|
|
|
|
|
|
Name: |
|
Jong-Hee Yang |
|
|
|
|
|
|
|
|
Title: |
|
Deputy President |
28
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