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View Annual Report ONE-FIRM KB s EVOLUTION& DYNAMIC KB CUSTOMER WITH KB DIGITAL KB YOUR FINANCIAL PLATFORM FOR THE FUTURE ANNUAL REPORT 2016 KB Financial Group Annual Report 2016 IN DIRECTION Group at a Glance 001 CEO's Message 002 KB ensures active and continued 2016 Highlights 006 communication with the customers 2016 Awards & Recognitions 007 SEAMLESS Vision & Strategy 008 Corporate Governance 010 Synergy Creation 012 Risk Management 014 Digital Finance 016 Social Contributions 018 IN OPERATION Financial Highlights by Subsidiary 022 KB Kookmin Bank 024 KB Securities 029 KB Insurance 031 s KB Kookmin Card 033 KB Life Insurance 035 KB Asset Management 036 KB Capital 037 KB Savings Bank 038 KB Real Estate Trust 039 SIMPLE KB Investment 040 KB provides easy and simple digital KB Credit Information 041 financial services KB Data Systems 042 IN FINANCIALS Consolidated Financial Statements 045 Separate Financial Statements 221 Company Directory 282 Overseas Network 282 Forward Looking Statements 284 2 KB Financial Group Annual Report 2016 Group at a Glance KBKookminbankhasthelargestnumber KBInsurancejoinedKBFinancial Sinceitsinceptionin2004,KBLife ofbranchesintheindustryandover30 Groupin2015asoneofthegroup’s Insurancehasprovidedinsurance millioncustomersacrossthecountry: keysubsidiariesandcoversallareasof servicesthroughbancassurance,hasset equivalenttomorethanhalfthenation’s propertyinsuranceincludingfire,marine, upgeneralagenciesandchannelsfor population.Itaimstorealizecustomer casualty,auto,long-term,andretirement, financialconsulting,directmarketing, valuenotonlythroughitsfinancial andpersonalpensionservicesatlocal andothersales,andestablisheditself servicesbutalsothroughimplementation branchesnationwide.Thecompanyalso asageneralinsurancecompany.Itis ofapartnershipgroupsystembetween conductsbusinessinthefinancial,real doingitsutmosttoprovideproducts branchesandenhancingcooperation estateandserviceindustriestowards andservicesthatmeetadiversityof withKBsubsidiaries. moreeffectivemanagementofitsassets. consumerdemands. Thebankalsostandsastheleaderin smartfinancing,withitsmobilebanking customerssurpassingthe10million mark:anindustryfirst. Throughmaintenanceofstabilityinits creditperformance,KBKookminBank KBKookminCardhandlestheissuance KBAssetManagementhasthemost receivedanA1ratingfromMoody’s,A+ andmanagementofKBcredit,check versatilebusinessportfolioofdomestic fromS&P,andAfromFitch. andpre-paidcardsandprovidescard AMfirms,extendingintostocks,bonds, paymentservices.Inaddition,KB derivatives,rawmaterials,foreignassets, encouragesretailerstojoinKBKookmin realestate,infrastructure,privateequity, CardandacceptKBcardsintheirstores, non-performingloansandotherareas. andprovidescustomerswithavariety Thecompanydevelopsandreleases offinancialservices,includinglong- avarietyofproductsdesignedtosuit termandshort-termcardloans(cash KBSecuritiesisamegafinancial investorneeds,andhasrecentlylaunched advances)andrevolvingservices. investmentcompanylaunchedon aglobalAMprojectthatincludes December30th,2016throughamerger KBKookminCardalsooffersmail-order MOUswithforeignassetmanagement betweenHyundaiSecuritiesandKB insuranceandtravel-relatedservices companies. Investment&Securities.Thecompany withintheparameterssetbythe KBAssetManagementregards retainsKRW4trillioninequitycapital, SpecializedCreditFinancialBusinessAct enhancementofitslong-termearnings KRW100trillionincustomerassetsand andotherrelevantlawsandregulations. ratioasitsprimarybusinessobjective. 3.85millioncustomers.Asaleading Tofurthermeettherangeofneedsin investmentfirmwithcompetitive themarketandamongourclientele,KB strengthsinarangeofareas,KB bringsauto-financingservicesforthose Securitiesaimstobecomealifetime lookingtopurchaseanewcarwhilealso partnerforcustomersinvestingincapital offeringpersonalcreditloans.Inaddition, markets. KBhasinvestedcapitalinLaostoexpand itsinstalmentloanbusinesstoforeign markets. AsaKBsubsidiaryprovidingcustomers KBRealEstateTrustfocusesexclusively Foundedin1999,KBCreditInformation withautoloansandpersonaland onrealestatetrusts,efficientlymanaging offersservicesrelatedtodebtcollection, corporatefinancing,KBCapitaltakes andoperatingcustomerpropertiesand leaseinvestigationandotherrelated theleadinestablishingasocialfinancial returningprofitsearned.Itsareasof areasinaccordancewiththeUseand safetynetforretailconsumersthrough serviceincludeland,mortgages,property ProtectionofCreditInformationAct. high-qualityfinancialservices. management,dispositiontrusts,agency, Thecompany’smajorresponsibilities Thecompany’stotalassetsarevalued REITsandAMC.Withitstotalinvested includehandlingoverduedebtsintheKB atKRW7.4587trillion,risingfromafifth capitalfundedbyKBFinancialGroup,KB financialgroup,anditcurrentlystands placerankinginthecapitalindustryin RealEstateTrustmaintainsastablecredit asthenation’sbestcreditinformation 2015toasecondplacerankingin2016. rating(commercialpaperratedatA2+) companyintermsofthevalueofassets andasolidcapitalbase. undermanagement,profitabilityand rangeofservices. KBSavingsBankprovidesloansand KBInvestmentisanestablishedcorporate ConductedITassessmentconsulting depositservicestothosewithlessaccess investmentcompanymanagingoverKRW group-wideincooperationwithbank, tocreditloansintheprimebanking 1trillioninAUMandhashelpedwiththe cardandothermajoraffiliateswithan sectorduetotheirrelativelyhighlevelof listingofover100companiesonKOSDAQ eyetowardimprovingtheGroup’sIT creditriskandlowmortgagecapacity. inthelast26yearsasaleadingventure efficiencies; Thecompany’smaindepositproducts capitalfirm.Sincetappingintothe Devisedadetailactionplanforimproving includetime,installmentandfree privateequityfundmarketin2008,ithas itsoperationfunctionsandcompetencies. installmentdepositaccounts,whileits continuedtoexpanditsbusinessinother loanproductportfolioincludesservices areasaswell. forthefinanciallymarginalizedsuchas KBInvestmentaimstosecurenew “KBKindLoan”,“SunshineLoan”and growthenginesforthenational “Saitdol2Loan”.Thevalueofservices economythroughtheKRW1.07trillion offeredinthesethreeproductsin2016 inmanagement. increasedbyKRW35.7billionover2015to Majorachievementsincludethe KRW114.3billion. formationofalargenewventurefund andimprovingthescaleandranking ofitsassetmanagementfromNo.17in 2015toNo.7in2016. Your Financial Platform for The Future s s SECURE We promote ourselves as the leading KB provides financial security that earns customers’ trust financial group in Korea and a business platform to lead the future. In 2016, KB Financial Group strategically enhanced its non-banking portfolio and expanded its market power through group-wide cooperation and synergy as it improved customer satisfaction and bolstered its competitive strengths in the industry. In May, KB welcomed Hyundai Securities, a prestigious SPEEDY name in the industry, into the group, thereby created KB provides newest financial technology a balanced business portfolio as an organization that stays ahead of changes and innovation now providing superior and comprehensive financial services through organic cooperation between 12 subsidiaries. KB Financial Group maintained its strong fundamentals in 2016, increasing its total assets by KRW 46.6 trillion over the previous year to KRW 375.7 trillion, realizing current net income of KRW 2.1 trillion, and expanding its customer base to over 33 million persons. 001 CEO’s Message We welcomed Hyundai Securities, a prestigious name in the business, into the KB family and through this secured an opportunity to grow and diversify the group’s business portfolio. 002 KB Financial Group Annual Report 2016 Dearvaluedshareholdersandcustomers We believe that these improvements over the last year both in terms of profit Weextendourdeepestgratitudetoallofyouforyour and assets were made possible because continuoussupportforandtrustinKBFinancialGroupin of the loyalty and trust of our customers thepastyear. and shareholders In2016thedomesticeconomyexperiencedlow thepreviousyear,despiteadecreaseinnetinterest growthdueto,amongmanyfactors,arapidincrease marginamidalowinterestrateenvironmentandasharp inhouseholddebtandtheimpactfromrestructuring increaseintheone-offcostofearlyretirementprograms. oftheshipbuildingandshippingindustries.Greater Thiswasduetotheearningsachievedbysolidloan uncertaintiesoccurredintheglobaleconomyafterBrexit growth,adecreaseincreditcostthroughpre-emptiverisk andaninterestratehikebytheUSFederalReserve. management,andacquisitionofHyundaiSecurities. Despitetheseunfavorableconditions,KBFinancialGroup hasmadegreatstridesinsecuringgrowthenginesforthe Bytheendof2016,thegroup’sassetshadalsoincreased futureandcreatingsynergyacrossthegroup. byKRW46.6trillionoverthepreviousyeartoKRW375.6 trillionfromtheimpactoftheacquisitionofHyundai WewelcomedHyundaiSecurities,aprestigiousnamein Securitiesandsolidloangrowthfollowingarecoveryin thebusiness,intotheKBfamilyandthroughthissecured thehousingmarket. anopportunitytogrowanddiversifythegroup’sbusiness portfolio.Wealsotookstepstofacilitatecooperationand Webelievethattheseimprovementsoverthelastyear synergywithinthegroupbyintroducingaPartnership bothintermsofprofitandassetsweremadepossible Group(PG)systemtoourbankingbranchesandopening becauseoftheloyaltyandtrustofourcustomersand uphybridbranchestoprovideservicesthatintegrate shareholders,andconcertedeffortsbyeveryoneinKB securitiesandinsurance.Atthesametime,weare FinancialGroup.Weremaincommittedtodoingour movingtowardsa“DigitalKB”withthelaunchofournew utmosttodeliverthebestofKBthroughunceasing personalfinanceandmembershipservicesonmobile transformationandinnovation.
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