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Korean financial services company From Wikipedia, the free encyclopedia
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]
| |
Native name | 주식회사 케이비금융지주 |
|---|---|
| Company type | Public Holding |
| KRX: 105560 NYSE: KB (ADR) | |
| ISIN | KR7105560007 |
| Industry | Financial services |
| Founded | September 29, 2008 (holding company) |
| Headquarters | , |
Key people | Yoon Jong-kyoo (Chairman & CEO) |
| Revenue |  US$17.2 billion (2022) |
| US$3.547 billion (2022) | |
| Total assets | US$508 billion (2022) |
| Subsidiaries | Kookmin Bank KB Life Insurance |
| Website | www.kbfg.com |
| Footnotes / references [1] | |
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 brought out majority stakes on Indonesia-based Bank Bukopin and rebranding their company name as KB Bukopin.[9]
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.
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