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I. 2020 Financial Highlights_ Overview
Group Profitability Overview
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q20 | QoQ | ||||||
Net Interest Income | 9,722.3 | 9,196.8 | 5.7 | 2,578.9 | 2,460.2 | 4.8 | ||||||
Net Fee & Commission Income | 2,958.9 | 2,355.0 | 25.6 | 788.4 | 789.2 | -0.1 | ||||||
Other Operating Profit | -188.6 | -119.9 | N.A. | -121.3 | -17.7 | N.A. | ||||||
Gross Operating Income | 12,492.6 | 11,431.9 | 9.3 | 3,246.0 | 3,231.7 | 0.4 | ||||||
G&A Expenses | 6,833.2 | 6,271.0 | 9.0 | 2,187.0 | 1,600.6 | 36.6 | ||||||
Provision for Credit Losses | 1,043.4 | 670.3 | 55.7 | 289.1 | 214.6 | 34.7 | ||||||
Net Operating Profit | 4,616.0 | 4,490.6 | 2.8 | 769.9 | 1,416.5 | -45.6 |
Highlights
Net Profit for 2020
3,455.2bn
(+4.3% YoY)
Increased 4.3% YoY on the back of solid growth in core earnings and inorganic growth despite the economic headwinds caused by COVID19
Net Interest Income for 2020
9,722.3bn
(+5.7% YoY)
Continued modest growth on the back of bank loan growth as well as consolidation of Prudential Life Insurance and Prasac, overcoming NIM contraction
Net Non-Operating Profit | 145.6 | 43.3 | 236.3 | 25.2 | 154.4 | -83.7 | ||||||||
Profit for the Period | 3,502.3 | 3,313.2 | 5.7 | 576.7 | 1,194.2 | -51.7 | ||||||||
Profit attributable to | 3,455.2 | 3,311.8 | 4.3 | 577.3 | 1,166.6 | -50.5 | ||||||||
controlling interests | ||||||||||||||
Group Net Profit Analysis (bn won)
Net Fee & Commission for 2020
2,958.9bn
(+603.9bn YoY)
Significant increase of 25.6% YoY mainly attributable to improvements in non-banking business such as 77.9% growth in fee income of securities business
G&A Expenses for 2020
6,833.2bn
(+2.6% YoY excl. non-recurring items)
Visible improvements in cost efficiency led by group-wide cost management effort, secured with only 2.6% YoY
1 | |||||||||||||||||||||||
102 | |||||||||||||||||||||||
388 | Profit from | Non- | 562 | ||||||||||||||||||||
insurance | operating | ||||||||||||||||||||||
business | Profit | ||||||||||||||||||||||
Profit from | G&A | 373 | 39 | ||||||||||||||||||||
604 | financial | expenses | |||||||||||||||||||||
investments, | Provision | Tax | |||||||||||||||||||||
etc. | for credit | expense | 504 | ||||||||||||||||||||
526 | Fee & | losses | 3,455 | ||||||||||||||||||||
3,312 | commission | Others | |||||||||||||||||||||
income | +4.3% | ||||||||||||||||||||||
Interest | |||||||||||||||||||||||
income |
Credit Cost for 2020
0.26%
(0.20% on recurring basis)
Set aside W377bn of preemptive provision buffer against COVID19-related uncertainties
- Non-recurringitems for 4Q20 (before tax)
Balanced Dynamic Growth
(Net profit on a recurring basis)
Banking Non-
Banking
65.7% 34.3%
2019 | 2020 |
Note) Each earnings component is stated as in 'before tax' amount
- ERP costs : W344bn (Bank 302, Securities 20, Card 9, Prudential Life 10, etc.)
- Preemptive provisioning related to COVID19 uncertainties : W171bn (Bank 131, Card 27, Capital 11, etc.)
- (Kookmin Bank) Large scale of reversals of provision from loan sales and written-off assets : W62bn
- (KB Securities) Provisioning related to trade finance fund sold by KB Securities : W32bn
02
I. 2020 Financial Highlights_ Key Financial Indicators (1) | |||||||||||||||||
Group ROA∙ROE (%) | Loans in won Growth (tn won, %) | NIM (%) | |||||||||||||||
4.2 | 2.4 | ||||||||||||||||
11.73 | 1.7 | 1.2 | |||||||||||||||
1.83 | 1.94 | ||||||||||||||||
10.28 | 10.15 | 10.17 | 295 | 1.76 | |||||||||||||
280 | 287 | 292 | 295 | 269 | 1.74 | 1.73 | 1.75 | ||||||||||
7.70 | 8.98 | ||||||||||||||||
128 | 133 | 134 | 133 | ||||||||||||||
5.61 | 8.79 | 5.5 | 0.8 | ||||||||||||||
4.2 | -0.5 | ||||||||||||||||
1.56 | 1.67 | ||||||||||||||||
0.81 | 1.50 | 1.49 | 1.51 | 1.51 | |||||||||||||
0.72 | 0.66 | 154 | 158 | 162 | |||||||||||||
0.56 | 0.61 | 152 | |||||||||||||||
0.38 | |||||||||||||||||
1.0 | |||||||||||||||||
3.2 | |||||||||||||||||
2.4 | 2.6 | ||||||||||||||||
1Q20 | 2Q20 | 3Q20 | 4Q20 | 2019 | 2020 | '20.3 | '20.6 | '20.9 | '20.12 | 2019 | 2020 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 2019 | 2020 |
ROA | ROE | ROE(on recurring basis) | Household | Corporate | Total Growth(QoQ) | Group | Bank | |||||||||||||||||
Household Growth(QoQ) | Corporate Growth(QoQ) | |||||||||||||||||||||||
Solid fundamental & profitability | Secured solid interest income | Well-managed 4Q20 NIM despite | ||||||||||||||||||||||
despite unfavorable environment | stream led by quality growth | declining market rate trend | ||||||||||||||||||||||
·ROA and ROE for 2020 recorded 0.61% and 8.79%, respectively
·Disregarding non-recurring items including ERP costs and preemptive provisioning, ROE for 2020 recorded 10.17% maintaining a solid earnings fundamental and profitability
- ROE : Based on ROCE(Return on Common Equity), which represents profitability of equity of common shares, eliminating the effects of supplementary capital
·Loans in won of the bank for 2020 accounted up to W295tn, achieving 9.9% YoY growth attributable to focusing on 'quality growth', and balanced growth of household and corporate
·Household loans increased 9.5% YTD and 2.6% QoQ driven by Jeonse and prime unsecured loans
·Corporate loans increased 10.3% YTD mostly led by SOHO, yet decreased 0.5% QoQ mainly due to debt redemption of large corporates at year-end
·4Q20 Bank NIM recorded 1.51%, recovering 2bp QoQ led by improvements in funding conditions and proper loan pricing efforts
·2020 Bank NIM fell 16bp YoY to 1.51%, mainly affected by the decline of market rates
·2020 Group NIM fell 18bp YoY further reflecting lowered card asset yields as high yield assets such as cash advances decreased
03
I. 2020 Financial Highlights _ Key Financial Indicators (2)
Group Cost-Income Ratio(CIR) (%) Credit Cost Ratio(CCR) (%)
Group BIS Ratio (Basel III, %)
70.2 | ||||
55.2 | 54.5 | 54.9 | 54.7 | |
57.4 | ||||
51.8 | 50.5 | 50.9 | ||
49.4 | ||||
2016 | 2017 | 2018 | 2019 | 2020 |
CIR | CIR(excl. non-recurring items) |
0.22 | 0.21 | 0.26 | ||
0.20 | 0.20 | |||
0.20 | ||||
0.13 | ||||
0.11 | 0.09 | |||
0.05 | ||||
0.04 | 0.04 | |||
2016 | 2017 | 2018 | 2019 | 2020 |
Group | Bank | excl. COVID19-related additional | ||
provision |
15.27 | 15.23 | 15.27 | ||
14.60 | 14.48 | |||
14.60 | ||||
14.37 | ||||
13.97 | 13.86 | 14.06 | ||
14.25 | 14.60 | |||
13.97 | 13.58 | |||
13.29 | ||||
2016 | 2017 | 2018 | 2019 | 2020(e) |
BIS | Tier1 | CET1 |
Enhanced cost efficiency based on better | Preemptive risk management with | |
revenue generation & cost control | conservative provisioning policy | |
Highest level of capital adequacy in the sector
·2020 CIR is well-managed despite scaled-up ERP and M&A-relatedone-off costs, which is attributable to better revenue generation & cost control effort
·2020 Group CIR on a recurring basis marked 49.4% demonstrating a continuous downward trend
·Pursue further enhancement in cost efficiency by expanding revenue sources and revisiting group- wide costs on a zero basis
·2020 Group CCR slightly increased to 0.26% mainly owing to preemptive provisioning against COVID19-related uncertainties
·As the result of conservative risk management, Group and the Bank CCRs recorded 0.20% and 0.09%, respectively, excluding such preemptive provisioning
·Proactively reinforced risk management system taking COVID19-related financial support programs and industry impact into consideration
·2020 Group BIS and CET1 ratios are expected to mark 15.27%, 13.29%, respectively
·Despite increased RWA due to growth in loan, Group maintained the most robust level of capital adequacy in the industry on the strength of firm increase in net profit and strategic management of capital including issuance of supplementary capital
·Bank BIS and CET1 ratios are expected to mark
17.77%, 15.10%, respectively
04
II. Key Takeaways _ KB ESG Leadership
KB ESG Strategic Directions
KB Green Way 2030
Create sustainable value and enhance customer trust by promoting responsible management for environment and society and disseminating healthy corporate governance
E | S | G |
Environment | Social Responsibility | Corporate Governance |
Advancing Climate | Internalizing Responsible | Spreading the Culture of |
Change Strategy | Management for Society | Transparent Governance |
KB ESG Leadership Milestones
25%
Reduce carbon emissions 1), 2)
50tn
Green Facilities and Renewable Energy
- Eco-friendlyoffice headquarters, IT facilities
- Install photovoltaic and fuel cell power generation facilities
Promote Go Green Campaign, 『Green Wave』
• Make social impact with customer, society, employee
Less Paper | Save Energy | No Plastic |
• Issue less bankbook | • Use renewable energy | • Issue less plastic card |
• Reduce DM service | • Increase green vehicle | • Reduce use of plastic |
• Reduce paper usage | • Pursue energy | product |
• Recycle plastic product | ||
efficiency | ||
Increase Investments and Loans in Green Sectors Such as Renewable Energy and Green Industry
- Scale up investments in support of national policy and social change
- Lead the green industry through financing, advisory, etc.
Included in the DJSI World index For 5 consecutive years('20.10) No.1 in Korea banking industry
Became the first financial group in Korea to declare an exiting
Received KCGS ESG rating of A+ with the highest ratings in every category, the first time ever in Korea financial industry('20.10)
Expand
ESG products, Investments and loans 3)
Expand ESG-based Finance Including ESG bond Issuance and Arrangement
- Expand the issuance of green·social·sustainable bond
- Lead ESG-related bond market
- KB Securities arranged 49% of local ESG bond issuance('18~'19)
coal financing('20.9)
As such, KB is no longer involved in new financing related to construction of coal-fired power plants
Established the Group ESG
Strategy 'KB Green Way 2030'
('20.5)
Became the PRB1) signatory and Joined CCCA2)('19.9) Joined UNEP FI('18.8)
Note
- Principles for Responsible Banking 2) Collective Commitment to Climate Action
- Task Force on Climate-related Financial Disclosures 4) Carbon Disclosure Project
Publicly committed to
Join Equator Principles
('20.8)
Established the ESG Committee in
the Board of Directors('20.3) Highest decision-makingbody in all ESG matters, responsible for establishing ESG strategy & policies
Became the TCFD3) supporter('18.10)
Joined the CDP4)
('18.8)
Note 1) Compared with 2017 2) Modification scheduled with 1.5°C scenario 3) Total amount of KRW 50tn
ESG Core Tasks
Join | Comply with | Support | ||
적도원칙 가입 | TCFD Guidelines | K-New Deal Project | ||
Equator Principles | ||||
Stop investments in | Implement TCFD | Promote K-New Deal by | ||
large-scale projects with | recommendation through | focusing on ESG such as | ||
environmental destruction | managing climate- | green smart school and | ||
or violation of human rights | related financial risks and | green energy, etc. | ||
(by 2021) | transparent disclosure | (Support KRW 10tn by 2025) | ||
05 | ||||
III. Financial Analysis _ Net Interest Income
Group Net Interest Income
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q20 | QoQ | |||||||
Interest Income | 14,485.7 | 14,639.2 | -1.0 | 3,685.2 | 3,578.8 | 3.0 | |||||||
Loans | 12,196.6 | 12,295.2 | -0.8 | 3,086.4 | 3,031.6 | 1.8 | |||||||
Financial | 1,994.5 | 2,042.8 | -2.4 | 522.8 | 480.9 | 8.7 | |||||||
Investments | |||||||||||||
Others | 294.6 | 301.2 | -2.2 | 76.0 | 66.3 | 14.6 | |||||||
Interest Expense | 4,763.4 | 5,442.4 | -12.5 | 1,106.3 | 1,118.6 | -1.1 | |||||||
Deposits | 2,916.8 | 3,481.1 | -16.2 | 664.4 | 677.3 | -1.9 | |||||||
Debts & | 1,759.3 | 1,837.0 | -4.2 | 421.8 | 423.4 | -0.4 | |||||||
Debentures | |||||||||||||
Others | 87.3 | 124.3 | -29.8 | 20.1 | 17.9 | 12.3 | |||||||
Net Interest Income | 9,722.3 | 9,196.8 | 5.7 | 2,578.9 | 2,460.2 | 4.8 | |||||||
Net Interest Income (bn won)
9,197 | 9,722 | |||||||
8,905 | 574 | 2,579 | ||||||
8,247 | 457 | 2,460 | ||||||
478 | ||||||||
1,266 | ||||||||
534 | 1,230 | 204 | ||||||
1,168 | 616 | 137 | ||||||
6,403 | 1,084 | 616 | ||||||
616 | 511 | 327 | ||||||
465 | 542 | 530 | 315 | |||||
520 | ||||||||
599 | 158 | 152 | ||||||
981 | ||||||||
134 | ||||||||
73 | 133 | |||||||
5,565 | 6,101 | 6,364 | 6,755 | 1,717 | 1,762 | |||
4,829 | ||||||||
2016 | 2017 | 2018 | 2019 | 2020 | 3Q20 | 4Q20 | ||
Bank | Securities | Insurance | Card | Others(incl. adjustment for consolidation) |
Note) Based on each subsidiary's Net Interest Income on the financial statements for group reporting
Loan Growth (tn won, %)
287 | 292 | 295 | |||||
280 | |||||||
269 | |||||||
258 | 260 | 261 | |||||
8.6 | 9.9 | ||||||
6.8 | |||||||
4.5 | |||||||
0.9 | 1.4 | 4.2 | |||||
3.0 | 2.4 | ||||||
1.7 | |||||||
1.2 | |||||||
0.3 | 0.7 | 0.5 | |||||
'19.3 | '19.6 | '19.9 | '19.12 | '20.3 | '20.6 | '20.9 | '20.12 |
Bank Loans in Won | Growth(QoQ) | Growth(YTD) |
NIM (%)
1.98 1.97
1.94
1.94
1.88 1.83
1.71 | 1.70 | 1.74 | 1.73 | 1.75 |
1.76 | ||||
1.67 |
1.67
1.61 1.56
1.50 | 1.49 | 1.51 | |||||
1.51 | |||||||
1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 | 3Q20 | 4Q20 |
Group | Bank | Cumulative |
06
III. Financial Analysis _ Net Non-Interest Income
Group Net Non-Interest Income
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q20 | QoQ | |||||||
Net Fee & Commission Income | 2,958.9 | 2,355.0 | 25.6 | 788.4 | 789.2 | -0.1 | |||||||
Credit Card Fees | 529.6 | 424.2 | 24.8 | 155.2 | 128.0 | 21.3 | |||||||
Trusts | 486.4 | 542.1 | -10.3 | 127.6 | 122.9 | 3.8 | |||||||
Agent Activity Fees | 196.5 | 172.2 | 14.1 | 48.6 | 51.0 | -4.7 | |||||||
(Incl. Bancassurance) | |||||||||||||
Represent Securities | 172.1 | 145.8 | 18.0 | 45.6 | 44.7 | 2.0 | |||||||
(Incl. ITC Products) | |||||||||||||
Banking Activity Fees | 189.1 | 214.5 | -11.8 | 46.5 | 46.5 | 0.0 | |||||||
Securities Business | 793.3 | 446.0 | 77.9 | 204.9 | 250.5 | -18.2 | |||||||
Others | 591.9 | 410.2 | 44.3 | 160.0 | 145.6 | 9.9 | |||||||
Other Operating Income | -188.6 | -119.9 | N.A. | -121.3 | -17.7 | N.A. | |||||||
Net Non-Interest Income | 2,770.3 | 2,235.1 | 23.9 | 667.1 | 771.5 | -13.5 | |||||||
Fee Income Contribution
35.6% | |||
48.0% | 2019 | 52.0% | 2020 |
64.4%
Bank | Non-Bank | |
Note) Based on simple arithmetic sum of each subsidiary's Net Fee & Commission Income on the financial statements for group reporting
Net Fee & Commission Income (bn won)
2,959 | ||||||||
2,243 | 2,355 | 573 | ||||||
789 | 788 | |||||||
2,050 | 229 | 380 | 401 | |||||
1,585 | 240 | 265 | 262 | 144 | 169 | |||
133 | ||||||||
212 | 552 | 626 | 580 | 917 | 94 | 127 | ||
92 | ||||||||
193 | 281 | |||||||
237 | ||||||||
1,088 | 1,125 | 1,123 | 1,133 | 1,068 | 270 | |||
255 | ||||||||
2016 | 2017 | 2018 | 2019 | 2020 | 3Q20 | 4Q20 |
Bank | Securities | Card | Others(incl. adjustment for consolidation) | ||||||
Note) Based on each subsidiary's Net Fee & Commission | Income on the financial statements for group reporting |
Composition of Fee Income (Cumulative, bn won)
89
215 | 405 | |||||||||||
154 | 595 | |||||||||||
180 | Bank | Non-Bank | ||||||||||
278 | ||||||||||||
234 | ||||||||||||
196 | 275 | 376 | ||||||||||
Bancassurance | Mutual Fund | Trusts | Brokerage | Credit Card | Trusts | |||||||
Sales, etc. | IB | Others | ||||||||||
Banking | Credit Card | Others | ||||||||||
Activities | Services | (incl. FX, etc.) |
Note) Based on simple arithmetic sum of each subsidiary's Net Fee & Commission Income on the financial | |
statements for group reporting | 07 |
III. Financial Analysis _ G&A Expenses & Provision for Credit Losses
Group G&A Expenses
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q20 | QoQ | ||||||
Employee Benefits | 4,343.2 | 3,955.3 | 9.8 | 1,465.7 | 1,007.8 | 45.4 | ||||||
Depreciation & Amortization | 874.9 | 784.4 | 11.5 | 240.7 | 217.9 | 10.5 | ||||||
Administrative Expenses | 1,381.0 | 1,316.7 | 4.9 | 422.3 | 320.9 | 31.6 | ||||||
Others | 234.1 | 214.6 | 9.1 | 58.3 | 54.0 | 8.0 | ||||||
G&A Expenses | 6,833.2 | 6,271.0 | 9.0 | 2,187.0 | 1,600.6 | 36.6 | ||||||
Note) FY2020 includes Group ERP W344bn, M&A-related costs W243bn
Group Provision for Credit Losses
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q20 | QoQ | ||||||
Provision for Loan Losses | 967.2 | 669.5 | 44.5 | 254.4 | 214.9 | 18.4 | ||||||
Provision for Guarantees | -13.6 | 1.9 | N.A. | 12.5 | -18.5 | N.A. | ||||||
Provision for Unused Commitments | 89.5 | -3.0 | N.A. | 21.9 | 16.7 | 31.1 | ||||||
Provision for Financial Guarantee Liabilities | 0.3 | 1.9 | -84.2 | 0.3 | 1.5 | -80.0 | ||||||
Provision for Credit Losses | 1,043.4 | 670.3 | 55.7 | 289.1 | 214.6 | 34.7 | ||||||
Note) FY2020 includes COVID19-related additional provision W377bn(FLC 238, Overlay 139)
G&A Expenses & CIR (bn won, %) | Provision for Credit Losses & CCR (bn won, %) | |
70.2 | ||||||||||||||
0.26 | ||||||||||||||
57.4 | 55.2 | 54.5 | 54.9 | 54.7 | 0.22 | 0.20 | 0.21 | 0.20 | ||||||
51.8 | 50.5 | 50.9 | 49.4 | 6,833 | 1,043 | 1,043 | ||||||||
6,271 | 6,833 | 6,271 | ||||||||||||
5,629 | 5,919 | 243 | 243 | |||||||||||
5,229 | 434 | 462 | 632 | 462 | 632 | 377 | ||||||||
345 | ||||||||||||||
674 | 670 | 670 | ||||||||||||
1,041 | ||||||||||||||
539 | 548 | |||||||||||||
5,284 | 5,485 | 5,809 | 5,958 | 5,809 | 5,958 | |||||||||
666 | ||||||||||||||
4,188 | ||||||||||||||
2016 | 2017 | 2018 | 2019 | 2020 | 2019 | 2020 | 2016 | 2017 | 2018 | 2019 | 2020 | 2019 | 2020 |
G&A | Non-recurring | M&A-related | CIR | CIR | Provision for Credit Losses | COVID19-related additional provision | CCR | ||||||
Expenses | items | items | (excl. non-recurring items) |
Note) Non-recurring items : ERP, Digitalization costs, etc.
Note) M&A-related items : Financial consolidation effect in relation to the acquisition of Prasac,
Prudential Life Insurance, Bank Bukopin, etc.
08
III. Financial Analysis _ Financial Position Overview | |
Group Financial Position | Group Assets (tn won) |
tn won, % | 2020.12 | 2020.9 | QoQ 2019.12 | YTD | |||||||
Assets | 610.7 | 605.5 | 0.9 | 518.5 | 17.8 | ||||||
Cash & Due from Financial Institutions | 25.6 | 25.4 | 0.8 | 20.8 | 23.1 | ||||||
FVTPL1) Assets | 61.1 | 58.8 | 3.9 | 53.5 | 14.2 | ||||||
Financial Investments | 98.7 | 96.7 | 2.1 | 71.8 | 37.5 | ||||||
Loans | 377.2 | 378.1 | -0.2 | 339.7 | 11.0 | ||||||
Property & Equipment | 8.2 | 8.6 | -4.7 | 7.9 | 3.8 | ||||||
Other Assets | 39.9 | 37.9 | 5.3 | 24.8 | 60.9 | ||||||
Liabilities | 567.4 | 563.4 | 0.7 | 479.4 | 18.4 | ||||||
FVTPL1) Liabilities | 11.9 | 13.3 | -10.5 | 15.4 | -22.7 | ||||||
Deposits | 338.6 | 338.0 | 0.2 | 305.6 | 10.8 | ||||||
Debts | 49.8 | 47.8 | 4.2 | 37.8 | 31.7 | ||||||
Debentures | 62.8 | 60.3 | 4.1 | 50.9 | 23.4 | ||||||
Other Liabilities | 104.3 | 104.0 | 0.3 | 69.7 | 49.6 | ||||||
Shareholder's Equity | 43.3 | 42.1 | 2.9 | 39.1 | 10.7 | ||||||
Share Capital | 2.1 | 2.1 | - | 2.1 | - | ||||||
Hybrid Securities | 1.7 | 1.2 | 41.7 | 0.4 | 325.0 | ||||||
Capital Surplus | 16.7 | 16.7 | 0.0 | 17.1 | -2.3 | ||||||
Accumulated Other Comprehensive | 0.6 | 0.4 | 50.0 | 0.3 | 100.0 | ||||||
Income | |||||||||||
Retained Earnings | 22.5 | 21.9 | 2.7 | 19.7 | 14.2 | ||||||
Treasury Shares | -1.1 | -1.1 | N.A. | -1.1 | N.A. | ||||||
Non-Controlling Interests | 0.8 | 0.9 | -11.1 | 0.6 | 33.3 | ||||||
Group Total Assets 1) | 940.4 | 908.4 | 3.5 | 789.8 | 19.1 | ||||||
AUM 2) | 329.2 | 302.7 | 8.8 | 271.1 | 21.4 |
Note 1) Based on simple arithmetic sum of each subsidiary's total assets on the financial statement for group reporting and AUM
Note 2) Includes Bank's trust asset not subject to group reporting
610.7 | ||||||
518.5 | 26.4 | |||||
479.6 | 25.1 | |||||
436.8 | 23.7 | 24.1 | ||||
39.1 | ||||||
375.7 | 19.5 | 22.2 | 23.0 | |||
20.5 | 36.6 | 57.6 | ||||
20.4 | 17.7 | 34.8 | 47.8 | |||
32.4 | 45.1 | |||||
15.8 | 37.4 | |||||
32.4 | ||||||
307.1 | 329.8 | 357.0 | 387.4 | 438.4 | ||
2016 | 2017 | 2018 | 2019 | 2020 | ||
Bank | Securities | Insurance | Card | Prudential | Others(incl. adjustments for consolidation) |
Note) Based on each subsidiary's total assets on the financial statement for group reporting
Group AUM (tn won)
329.2 | ||||
252.7 | 271.1 | 29.6 | ||
234.9 | 28.4 | |||
216.6 | 30.8 | 83.0 | ||
25.8 | ||||
22.4 | 59.2 | |||
51.0 | ||||
50.6 | ||||
52.7 | ||||
123.3 | 131.8 | 162.4 |
97.8 | 115.2 |
43.7 | 43.3 | 47.6 | 51.7 | 54.2 |
2016 | 2017 | 2018 | 2019 | 2020 |
Bank Trust | Securities | Asset Management | Real Estate Trust & others | |||
09
III. Financial Analysis _ Assets & Liabilities
Bank Loans in Won
tn won, % | 2020.12 | 2020.9 | QoQ | 2019.12 | YTD | ||||||
Household | 161.9 | 157.8 | 2.6 | 147.9 | 9.5 | ||||||
Mortgage | 86.0 | 83.3 | 3.2 | 77.2 | 11.4 | ||||||
General | 75.9 | 74.5 | 1.9 | 70.7 | 7.4 | ||||||
[Home Equity] | 30.5 | 30.7 | -0.7 | 31.8 | -4.1 | ||||||
Corporate | 133.6 | 134.3 | -0.5 | 121.1 | 10.3 | ||||||
SME | 114.1 | 113.1 | 0.9 | 103.3 | 10.5 | ||||||
[SOHO] | 76.8 | 75.1 | 2.3 | 69.2 | 11.0 | ||||||
Large Corp, etc. | 19.5 | 21.2 | -8.0 | 17.8 | 9.6 | ||||||
Total | 295.5 | 292.1 | 1.2 | 269.0 | 9.9 | ||||||
Bank Deposits & Debentures in Won
tn won, % | 2020.12 | 2020.9 | QoQ | 2019.12 | YTD | ||||||
Deposits | 302.5 | 302.9 | -0.1 | 281.6 | 7.4 | ||||||
Core Deposits | 155.9 | 146.6 | 6.3 | 124.5 | 25.2 | ||||||
Time & Savings | 144.2 | 153.0 | -5.8 | 152.9 | -5.7 | ||||||
[Time Deposits] | 131.2 | 140.2 | -6.4 | 139.3 | -5.8 | ||||||
CD, RP, etc. | 2.4 | 3.3 | -27.3 | 4.2 | -42.9 | ||||||
Debentures | 19.2 | 16.9 | 13.6 | 13.0 | 47.7 | ||||||
Total | 321.7 | 319.8 | 0.6 | 294.6 | 9.2 | ||||||
Loan Portfolio (tn won, %)
295.5 | ||||
257.4 | 269.0 | 6.6 | ||
234.9 | 6.6 | |||
220.6 | 7.0 | 12.6 | ||
6.8 | 12.7 | |||
12.6 | ||||
7.6 | ||||
12.4 | 26.0 | |||
12.1 | 25.7 | |||
25.5 | ||||
25.6 | ||||
24.4 | ||||
27.7 | 26.3 | 25.7 | ||
29.4 | 28.8 | |||
26.5 | 26.4 | 27.2 | 28.7 | 29.1 |
2016 | 2017 | 2018 | 2019 | 2020 |
Mortgage | General | SOHO | SME(excl. SOHO) | Large Corp, etc. |
Card Assets
tn won, % | 2020.12 | 2020.9 | QoQ | 2019.12 | YTD | ||||||
Credit Card | 18.7 | 18.4 | 1.6 | 18.6 | 0.5 | ||||||
Credit Sales | 12.0 | 11.9 | 0.8 | 12.0 | 0.0 | ||||||
[Installments] | 5.4 | 5.2 | 3.8 | 5.1 | 5.9 | ||||||
Card Loans | 5.6 | 5.4 | 3.7 | 5.3 | 5.7 | ||||||
Cash Advance | 1.1 | 1.1 | 0.0 | 1.2 | -8.3 | ||||||
Installment Financing, etc. | 4.2 | 4.0 | 5.0 | 3.3 | 27.3 | ||||||
Total | 22.9 | 22.4 | 2.2 | 21.9 | 4.6 | ||||||
10
IV. Asset Quality _ Group Overview
Group Asset Quality
bn won, % | 2020.12 | 2020.9 | QoQ | 2019.12 | YTD | ||||||
Total Loans for NPL Classification | 366,427.8 | 362,674.6 | 1.0 | 334,552.5 | 9.5 | ||||||
Precautionary | 2,379.2 | 2,439.7 | -2.5 | 2,608.4 | -8.8 | ||||||
Substandard | 653.5 | 770.1 | -15.1 | 662.5 | -1.4 | ||||||
Doubtful | 557.1 | 576.8 | -3.4 | 700.9 | -20.5 | ||||||
Estimated Loss | 280.4 | 308.6 | -9.1 | 288.4 | -2.8 | ||||||
Substandard & Below Loans(NPL) (A) | 1,491.0 | 1,655.5 | -9.9 | 1,651.8 | -9.7 | ||||||
NPL Ratio | 0.41% | 0.46% | -0.05%p | 0.49% | -0.08%p | ||||||
Loan Loss Reserves (B) | 2,513.6 | 2,455.9 | 2.3 | 2,430.0 | 3.4 | ||||||
NPL Coverage Ratio I (B/A) | 168.6% | 148.3% | 20.3%p | 147.1% | 21.5%p | ||||||
Reserves for Credit Losses (C) | 2,643.1 | 2,702.9 | -2.2 | 2,555.2 | 3.4 | ||||||
NPL Coverage Ratio II [(B+C)/A] | 345.9% | 311.6% | 34.3%p | 301.8% | 44.1%p | ||||||
Note) Based on simple arithmetic sum of each subsidiary's figures(excl. overseas local subsidiaries, overseas equity investments, SPCs for consolidation, etc.). For reference, consolidated Group NPL ratio as of end of 2020 is 0.79%
Precautionary & Below Ratio / NPL Ratio (%)
2.13
1.60 | 1.42 | 1.27 | 1.26 | |||
1.17 | 1.13 | |||||
1.06 | ||||||
0.86 | 0.69 | 0.61 | 0.49 | 0.50 | |||
0.48 | 0.46 | 0.41 | |||||
2016 | 2017 | 2018 | 2019 | '20.3 | '20.6 | '20.9 | '20.12 |
Precautionary & Below Ratio | NPL Ratio |
Credit Cost Ratio (%)
2.10 | 2.33 | 2.14 | |
2.03 | |||
1.75
0.22 0.20 0.21 0.20 0.25
0.11 | 0.11 | |
0.05 | 0.04 | 0.04 |
1.96
1.59
1.05
0.290.29
0.22
0.12 | 0.14 | 0.14 |
NPL Coverage Ratio | ||||
Ⅰ (%) | ||||
320.0 | ||||
278.1 | 288.0 | |||
263.4 | ||||
249.6 | 249.8 | |||
223.9 | 168.6 | |||
204.3 | ||||
138.9 | 147.1 | 141.4 | 144.4 | 148.3 |
104.3 | 107.9 | ||||
165.2 | |||||
122.3 | 130.2 | 126.7 | 134.5 | 140.4 | |
95.6 | 99.7 |
2016 | 2017 | 2018 | 2019 | 1Q20 | 2Q20 | 3Q20 | 4Q20 |
Group | Bank | Card |
2016 | 2017 | 2018 | 2019 | '20.3 | '20.6 | '20.9 | '20.12 |
Group | Bank | Card |
11
IV. Asset Quality _ Bank & Card
Bank Asset Quality
bn won, % | 2020.12 | 2020.9 | QoQ | 2019.12 | YTD | ||||||
Total Loans for NPL Classification | 315,280.9 | 312,718.4 | 0.8 | 288,896.7 | 9.1 | ||||||
Precautionary | 1,019.5 | 1,038.0 | -1.8 | 1,249.2 | -18.4 |
Delinquency Ratio (%)
1.24 | 1.23 | 1.20 | 1.11 |
0.35
1.24 1.08 0.99 0.94
Substandard | 498.2 | 603.9 | -17.5 | 590.4 | -15.6 |
Doubtful | 270.1 | 257.9 | 4.7 | 350.2 | -22.9 |
Estimated Loss | 103.7 | 131.3 | -21.0 | 116.6 | -11.1 |
0.24 0.23 0.24
0.24
0.21 0.20 0.17
NPL Ratio | 0.28% | 0.32% | -0.04%p | 0.37% | -0.09%p | |||||
NPL Coverage Ratio | 165.2% | 140.4% | 24.8%p | 130.2% | 35.0%p | |||||
Note) Based on separate financial statements
Card Asset Quality
bn won, % | 2020.12 | 2020.9 | QoQ | 2019.12 | YTD | ||||||
Total Loans for NPL Classification | 22,861.3 | 22,394.7 | 2.1 | 21,922.4 | 4.3 | ||||||
Precautionary | 846.8 | 824.9 | 2.7 | 875.1 | -3.2 | ||||||
Substandard | 3.7 | 4.4 | -15.9 | 3.6 | 2.8 | ||||||
Doubtful | 162.1 | 182.5 | -11.2 | 223.0 | -27.3 | ||||||
Estimated Loss | 70.3 | 75.6 | -7.0 | 73.0 | -3.7 | ||||||
NPL Ratio | 1.03% | 1.17% | -0.14%p | 1.37% | -0.34%p |
2016 | 2017 | 2018 | 2019 |
Bank
NPL Ratio (%)
1.30 | 1.40 | 1.38 | 1.37 |
0.74 | 0.58 | 0.48 | |
0.37 | |||
2016 | 2017 | 2018 | 2019 |
Bank |
'20.3 '20.6 '20.9 '20.12
Card
1.51 1.48
1.17 | 1.03 | ||
0.36 | 0.33 | 0.32 | 0.28 |
'20.3 | '20.6 | '20.9 | '20.12 |
Card |
NPL Coverage Ratio | 320.0% | 288.0% | 32.0%p | 263.4% | 56.6%p | ||||||||||
Note) Based on separate financial statements | |||||||||||||||
Provision for Loan Losses | |||||||||||||||
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q20 | QoQ | |||||||||
Bank | 390.1 | 113.2 | 244.6 | 110.5 | 107.5 | 2.8 | |||||||||
Household | 257.4 | 243.1 | 5.9 | 55.4 | 44.6 | 24.2 | |||||||||
Corporate | 132.7 | -129.9 | N.A. | 55.1 | 62.9 | -12.4 | |||||||||
Card | 362.2 | 432.6 | -16.3 | 90.3 | 58.2 | 55.2 | |||||||||
Note) FY2020 includes COVID19-related additional provision(Group W377bn)
Bank Credit Cost Ratio (%) | 0.24 | ||||||
0.22 | |||||||
0.17 | 0.18 | 0.16 | |||||
0.13 | |||||||
0.11 | 0.10 | 0.11 | 0.12 | 0.14 | |||
0.14 | |||||||
0.05 | 0.04 | 0.04 | 0.11 | ||||
0.01 | 0.01 | 0.03 | 0.01 | ||||
-0.06 | -0.10 | ||||||
2016 | 2017 | 2018 | 2019 | 1Q20 | 2Q20 | 3Q20 | 4Q20 |
Total | Household | Corporate |
12
V. Financial Highlights of Major Subsidiaries _ KB Kookmin Bank
Profitability Overview 1)
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q20 | QoQ | |||||||
Net Interest Income | 6,754.8 | 6,363.8 | 6.1 | 1,761.9 | 1,717.2 | 2.6 | |||||||
Net Fee & Commission Income | 1,067.9 | 1,133.3 | -5.8 | 254.7 | 270.2 | -5.7 | |||||||
Other Operating Profit | 14.0 | -178.0 | N.A. | 23.9 | -18.8 | N.A. | |||||||
Gross Operating Income | 7,836.7 | 7,319.1 | 7.1 | 2,040.5 | 1,968.6 | 3.7 | |||||||
G&A Expenses | 4,201.3 | 3,887.4 | 8.1 | 1,386.1 | 939.9 | 47.5 | |||||||
Provision for Credit Losses | 484.3 | 103.6 | 367.5 | 150.9 | 117.4 | 28.5 | |||||||
Net Operating Profit | 3,151.1 | 3,328.1 | -5.3 | 503.5 | 911.3 | -44.7 | |||||||
Net Non-Operating Profit | -19.3 | -9.6 | N.A. | 49.9 | -43.4 | N.A. | |||||||
Profit for the Period 2) | 2,298.2 | 2,439.1 | -5.8 | 415.8 | 635.6 | -34.6 | |||||||
Note 1) Based on financial statements for group reporting | 2) Profit attributable to controlling interests |
Net Profit (bn won)
Net Interest Income & NIM (bn won, %)
1.58 | 1.71 | 1.71 | 1.67 | 1.51 | 1.51 | |
1.49 | ||||||
5,394 | 6,101 | 6,364 | 6,755 | |||
4,829 | ||||||
1,762 | ||||||
1,717 | ||||||
2016 | 2017 | 2018 | 2019 | 2020 | 3Q20 | 4Q20 |
Net Interest Income | NIM |
Net Fee & Commission Income (bn won)
1,088 | 1,225 | 1,123 | 1,133 | 270 | ||
1,068 | 255 | |||||
266 | ||||||
228 | 208 | 215 | 49 | |||
253 | 57 | 44 | ||||
47 | 66 | |||||
79 | 176 | 89 | 25 | 20 | ||
147 | 129 | |||||
157 | 225 | 204 | 200 | 154 | 40 | 40 |
235 | 180 | 48 | 40 | |||
195 | 210 | 222 | ||||
182 | 196 | 48 | 48 | |||
306 | 287 | 308 | ||||
182 | 234 | 60 | 63 | |||
2,259 | 2,439 | 2,298 | ||
2,175 | ||||
964 | ||||
2016 | 2017 | 2018 | 2019 | 2020 |
2,582 2,686
2,439 2,298
2019 2020
2016 | 2017 | 2018 | 2019 | 2020 | 3Q20 | 4Q20 | ||||||
Trusts | Banking Activities | Card Services | Mutual Fund Sales | Bancassurance | FX, etc. | |||||||
CIR (bn won, %) | CCR (bn won, %) | |
48.4 | 0.13 | |
47.2 | ||
484 | ||
3,887 | 4,201 | 0.04 |
104 |
Major non-recurring items
Note) Major non-recurring items (after tax)
Note) 2019: ERP(W160bn), large-scale reversals of provisioning(W77bn), etc.
Note) 2020: ERP(W219bn), preemptive provisioning related to COVID19 uncertainties(W210bn), large-scale reversals of provisioning(W100bn), etc.
2019 | 2020 | 2019 | 2020 | |||
G&A | CIR | Provision for | CCR | |||
Expenses | (excl. non-recurring items) | Credit Losses | 13 | |||
V. Financial Highlights of Major Subsidiaries _ KB Securities
Profitability Overview 1) | Net Fee & Commission Income (bn won) | |
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q20 | QoQ | |||||||
Net Fee & Commission Income | 916.8 | 580.4 | 58.0 | 236.7 | 280.9 | -15.7 | |||||||
Brokerage | 595.3 | 245.1 | 142.9 | 167.5 | 183.0 | -8.5 | |||||||
Investment Banking | 278.3 | 267.3 | 4.1 | 63.7 | 84.7 | -24.8 | |||||||
Financial Products | 57.8 | 63.7 | -9.3 | 15.7 | 14.8 | 6.1 | |||||||
Others | -14.7 | 4.3 | N.A. | -10.2 | -1.7 | N.A. | |||||||
Interest Income | 510.6 | 529.9 | -3.6 | 133.5 | 132.7 | 0.6 | |||||||
Trading | 14.6 | -15.9 | N.A. | 21.1 | 26.5 | -20.4 | |||||||
G&A Expenses | 844.5 | 757.3 | 11.5 | 256.4 | 205.4 | 24.8 | |||||||
Provision for Credit Losses | 23.8 | 14.3 | 66.4 | 0.3 | -0.3 | N.A. | |||||||
Net Operating Profit | 573.7 | 322.8 | 77.7 | 134.6 | 235.0 | -42.7 | |||||||
Net Non-Operating Profit | 8.1 | 30.4 | -73.4 | -18.6 | 47.4 | N.A. | |||||||
Profit for the Period 2) | 425.6 | 257.9 | 65.0 | 87.1 | 209.7 | -58.5 | |||||||
Note 1) Based on financial statements for group reporting | 2) Profit attributable to controlling interests |
Net Profit (bn won)
485 | |||||
426 | |||||
272 | 258 | 258 | |||
179 | 426 | ||||
2017 | 2018 | 2019 | 2020 | 2019 | 2020 |
Major non-recurring items
Note) Major non-recurring items (after tax)
2020: Disposal gain on overseas real estate investment(W30bn), PEF related losses including TRS valuation losses(W29bn), provisioning related to trade finance fund sold by KB Securities(W23bn), provisioning related to PEF sold by KB Securities(W21bn), provisioning for receivables from brokerage business(W14bn), ERP(W14bn), etc.
917 | |||||
44 | |||||
552 | 625 | 580 | 278 | 281 | 237 |
56 | 13 | ||||
48 | 68 | 5 | |||
216 | |||||
215 | 85 | ||||
267 | 64 | ||||
595 | |||||
288 | 353 | 245 | 183 | 168 | |
2017 | 2018 | 2019 | 2020 | 3Q20 | 4Q20 |
Brokerage | IB | Sales of Financial Products, etc. |
Retail AUM (tn won)
109 | ||||||
83 | 94 | |||||
74 | 69 | 33 | ||||
61 | 64 | 31 | ||||
30 | ||||||
29 | 28 | |||||
15 | 20 | |||||
53 | 63 | 76 | ||||
46 | 44 | 45 | 41 | |||
2017 | 2018 | 2019 | '20.3 | '20.6 | '20.9 | '20.12 |
Brokerage | WM |
Assets under WM
tn won | 2020 | 2019 | 2018 | 2.7%2.7% | ||||||||||||
16.6% | ||||||||||||||||
Bonds | 19.3 | 14.1 | 10.3 | |||||||||||||
Trusts | 7.4 | 6.1 | 4.2 | |||||||||||||
Funds | 5.5 | 6.7 | 4.1 | |||||||||||||
ELS/DLS | 0.9 | 1.5 | 1.8 | 22.4% | 58.3% | |||||||||||
Total | 33.1 | 28.4 | 20.4 | |||||||||||||
Bonds | Trusts | Funds | ELS/DLS | |||||||||||||
14
V. Financial Highlights of Major Subsidiaries _ KB Insurance
Profitability Overview 1)
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q20 | QoQ | ||||||
Direct Premium Written | 10,975.1 | 10,272.8 | 6.8 | 2,779.3 | 2,728.8 | 1.9 | ||||||
Net Premium Earned | 9,577.0 | 9,191.2 | 4.2 | 2,467.4 | 2,405.4 | 2.6 | ||||||
Loss Ratio | 85.5% | 86.1% | -0.6%p | 86.0% | 85.2% | 0.8%p | ||||||
Expense Ratio | 21.2% | 22.0% | -0.8%p | 22.4% | 21.1% | 1.3%p | ||||||
Underwriting Profit | -650.1 | -740.1 | N.A. | -207.9 | -152.0 | N.A. | ||||||
Investment Income | 844.3 | 959.2 | -12.0 | 196.8 | 198.2 | -0.7 | ||||||
Profit for the Period 2) | 163.9 | 234.3 | -30.0 | -22.7 | 42.6 | N.A. | ||||||
RBC Ratio | 177.6% | 188.5% | -10.9%p | 177.6% | 188.6% | -11.0%p |
Note 1) Based on financial statements for group reporting 2) Profit attributable to controlling interests
Net Profit & EV 1) (bn won)
7,806 | |
330 | 6,607 |
Direct Premium Written
bn won | 2020 | 2019 | 2018 | |||||
Long Term | 7,290.7 | 7,083.3 | 6,883.2 | |||||
Protection | 6,703.8 | 6,362.8 | 6,014.0 | |||||
Savings | 586.9 | 720.5 | 869.2 | |||||
Auto | 2,610.6 | 2,206.7 | 2,035.3 | |||||
General | 1,073.8 | 982.8 | 931.7 | |||||
Total | 10,975.1 | 10,272.8 | 9,850.2 | |||||
Asset Portfolio | ||||||||
bn won | 2020 | 2019 | 2018 | |||||
Cash & Due | 554.2 | 559.2 | 746.1 | |||||
Securities | 22,435.4 | 20,633.0 | 18,741.2 | |||||
Bonds | 12,678.7 | 10,715.7 | 9,871.9 | |||||
F/C Securities | 3,187.9 | 4,243.2 | 4,365.1 | |||||
Equities, etc. | 6,568.8 | 5,674.1 | 4,504.1 | |||||
Loans | 7,080.9 | 6,872.1 | 6,873.7 | |||||
Real Estate | 917.8 | 943.1 | 968.0 | |||||
Total | 30,988.3 | 29,007.4 | 27,329.0 | |||||
9.8%
23.8%
61.1%
5.3%
LT (Protection) LT (Savings) Auto General
3.0% 1.8%
22.8%
40.9% | ||||
21.2% | ||||
10.3% | ||||
Bonds | F/C Securities | Equities, etc. | ||
Loans | Real Estate | Cash & Due | ||
262 | 4,712 | 234 | 164 | |
3,152 | ||||
2017 | 2018 | 2019 | 2020 | |
Net Profit | EV |
Loss Ratio (%) | |||
88.3 | 92.0 | 88.0 | |
86.1 | |||
83.4 | 84.2 | 86.6 | |
82.2 | 84.0 | 85.1 | 84.7 |
80.7 | |||
75.7 | 74.9 |
71.3 71.0
2017 2018 2019 1Q20
97.4
88.1 87.5
84.4 | 85.2 | 87.1 |
84.2 | 86.0 | |
84.685.2 | ||
82.0 | 85.5 | |
2Q20 3Q20 4Q20
Note 1) EVs are based on identical assumptions sets 2) EVs are figures as of the end of each year | Total | Long Term | Auto | General | ||||
15 |
V. Financial Highlights of Major Subsidiaries _ KB Kookmin Card
Profitability Overview 1)
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q20 | QoQ | ||||||
Operating Revenue | 4,014.7 | 3,919.6 | 2.4 | 1,035.6 | 992.5 | 4.3 | ||||||
Card | 3,516.3 | 3,472.8 | 1.3 | 905.0 | 874.2 | 3.5 | ||||||
Installment and Lease Financing | 116.9 | 75.9 | 54.0 | 36.8 | 30.8 | 19.5 | ||||||
Others | 381.5 | 370.9 | 2.9 | 93.8 | 87.5 | 7.2 | ||||||
Operating Expense | 2,659.9 | 2,658.5 | 0.1 | 675.8 | 677.5 | -0.3 | ||||||
Interest Expense | 365.8 | 350.9 | 4.2 | 93.7 | 92.6 | 1.2 | ||||||
Commissions & Other Expenses | 2,294.1 | 2,307.6 | -0.6 | 582.1 | 584.9 | -0.5 | ||||||
Gross Operating Income | 1,354.8 | 1,261.0 | 7.4 | 359.8 | 315.0 | 14.2 | ||||||
G&A Expenses | 514.8 | 441.9 | 16.5 | 165.5 | 120.6 | 37.2 |
Card Transaction Volume (tn won) | 37.3 | ||||||
36.0 | 36.7 | 36.4 | |||||
35.0 | 34.1 | 35.7 | 8.9 | ||||
33.0 | 9.0 | 8.9 | 8.4 | 8.7 | |||
8.6 | 8.2 | ||||||
8.3 | |||||||
26.4 | 27.0 | 27.8 | 25.9 | 27.3 | 27.7 | 28.4 | |
24.7 | |||||||
1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 | 3Q20 | 4Q20 |
Credit Card | Check Card |
Card Assets
Provision for Credit Losses | 396.5 | 439.7 | -9.8 | 99.6 | 68.9 | 44.6 |
Net Operating Profit | 443.5 | 379.4 | 16.9 | 94.7 | 125.5 | -24.5 |
Net Non-Operating Profit | -5.5 | 4.5 | N.A. | -2.2 | -1.5 | N.A. |
Profit for the period 2) | 324.7 | 316.5 | 2.6 | 69.5 | 91.4 | -24.0 |
Note 1) Based on financial statements for group reporting | 2) Profit attributable to controlling interests |
Net Profit (bn won)
361 | ||||||
317 | 297 | 287 | 317 | 325 | 317 | |
325 | ||||||
2016 | 2017 | 2018 | 2019 | 2020 | 2019 | 2020 |
Major non-recurring items
Note) Major non-recurring items (after tax)
2020: Preemptive provisioning related to COVID19 uncertainties(W43bn), reversals of provisioning in relation to change in FLC(W13bn), ERP(W7bn)
bn won | 2020 | 2019 | 2018 | ||||||||
Credit Card | 18,706.4 | 18,591.9 | 17,309.3 | ||||||||
Credit Sales | 12,029.8 | 12,038.2 | 11,110.0 | ||||||||
Installments | 5,379.3 | 5,127.4 | 4,793.7 | ||||||||
Card Loans | 5,622.6 | 5,345.4 | 4,942.2 | ||||||||
Cash Advance | 1,054.0 | 1,208.2 | 1,257.1 | ||||||||
Installment | 4,151.0 | 3,312.6 | 2,154.5 | ||||||||
Financing, etc. | |||||||||||
Total | 22,857.4 | 21,904.5 | 19,463.8 | ||||||||
Funding | |||||||||||
bn won | 2020 | 2019 | 2018 | ||||||||
Borrowings | 988.8 | 1,129.2 | 620.1 | ||||||||
Debentures | 14,366.8 | 13,353.2 | 12,083.6 | ||||||||
ABS | 1,507.5 | 1,460.3 | 970.0 | ||||||||
Total | 16,863.1 | 15,942.7 | 13,673.7 | ||||||||
18.2%
52.6%
24.6%
4.6%
Credit Sales | Cash Advance | ||
Card Loans | Installment Financing, etc. | ||
5.9%
8.9%
85.2%
Debentures ABS Borrowings
16
V. Financial Highlights of Major Subsidiaries _ Prudential Life Insurance
Profitability Overview 1)
New Business APE(Annualized Premium Equivalent)
bn won, % | 2020 | 2019 | YoY | 4Q20 | 3Q202) | QoQ | ||||||
Net Interest Income | 112.1 | - | - | 84.9 | 27.2 | - |
bn won | 2020 | 2019 | 2018 | |||
Protection | 113.8 | 129.7 | 115.7 |
0.1%
Net Fee & Commission Income | -2.9 | - | - | -2.1 | -0.8 | - |
Other Operating Profit | 65.6 | - | - | 44.2 | 21.4 | - |
Gross Operating Income | 174.8 | - | - | 127.0 | 47.8 | - |
G&A Expenses | 81.8 | - | - | 49.9 | 31.9 | - |
Annuities | 120.4 | 122.6 | 91.9 | |||
Savings | 0.3 | 0.6 | 1.9 | |||
Total | 234.5 | 252.9 | 209.6 |
48.5%
51.4%
Provision for Credit Losses | 0.5 | - | - | 0.2 | 0.3 | - | ||||||||||
Net Operating Profit | 92.5 | - | - | 76.9 | 15.6 | - | ||||||||||
Net Non-Operating Profit | -0.1 | - | - | -0.1 | 0.0 | - | ||||||||||
Profit for the Period 3) | 55.7 | - | - | 44.6 | 11.1 | - | ||||||||||
RBC Ratio | 428.9% | - | - | 428.9% | 486.4% | - | ||||||||||
Note 1) Based on financial statements for group reporting | 2) Based on financial statements since September, 2020 | |||||||||||||||
3) Profit attributable to controlling interests | ||||||||||||||||
Net Profit 1) (bn won) | 228 | |||||||||||||||
176 | 164 | |||||||||||||||
100 | ||||||||||||||||
141 | ||||||||||||||||
Invested Assets
bn won | 2020 | 2019 | 2018 | |||
Cash & Due | 367.5 | 241.4 | 67.6 | |||
Securities | 16,334.2 | 15,091.5 | 13,814.2 | |||
Bonds | 15,110.6 | 14,197.6 | 13,168.8 | |||
F/C Securities | 869.6 | 585.7 | 268.5 | |||
Equities, etc. | 354.0 | 308.2 | 376.9 | |||
Loans | 760.9 | 995.2 | 956.6 | |||
Real Estate | 91.1 | 93.2 | 95.2 | |||
Total | 17,553.7 | 16,421.3 | 14,933.6 | |||
Protection Annuities Savings
4.3% | 0.5% | 2.1% |
2.0%
5.0%
86.1% | |||||
Bonds | F/C Securities | Equities, etc. | |||
Loans | Real Estate | Cash & Due | |||
128
20162017201920202)Major non-recurring items
Note 1) Based on financial statements of Prudential Life Insurance, for better comparison purposes, which differs from the financial results for group reporting contained in Profitability Overview
Note 2) Major non-recurring items (after tax)
Disposal gain on private placement bonds(W149bn), bonus payouts(W31bn), additional tax expenses due to corporate tax rate adjustment(W11bn), ERP(W7bn)
Mortality Margin & Loss Ratio (bn won, %)
54.4 | 53.6 | 58.3 | 55.4 | |||
52.3 | ||||||
168 | 40.5 | 43.9 | ||||
147 | 157 | |||||
38 | 54 | 41 | 52 | |||
2017 | 2018 | 2019 | 1Q20 | 2Q20 | 3Q20 | 4Q20 |
Mortality Margin | Loss Ratio | 17 | ||||
VI. Appendix _ Overview of Group Subsidiaries1) (2020)
bn won | Ownership | Total Assets | Shareholder's Equity | Profit for the Period | ROA | ROE | |||||||
KB Kookmin Bank | 100.0% | 438,444.1 | 30,408.1 | 2,298.2 | 0.55% | 7.86% | |||||||
KB Securities | 100.0% | 57,629.7 | 5,054.2 | 425.6 | 0.78% | 8.81% | |||||||
KB Insurance | 100.0% | 39,078.1 | 3,991.7 | 163.9 | 0.43% | 4.10% | |||||||
KB Kookmin Card | 100.0% | 24,071.6 | 4,281.7 | 324.7 | 1.38% | 7.86% | |||||||
Prudential Life Insurance | 100.0% | 25,121.7 | 2,439.5 | 55.7 | 1.04%2) | 7.68%2) | |||||||
KB Asset Management | 100.0% | 335.6 | 223.1 | 57.3 | 15.59% | 29.20% | |||||||
KB Capital | 100.0% | 12,820.9 | 1,431.6 | 141.6 | 1.20% | 10.96% | |||||||
KB Life Insurance | 100.0% | 10,424.9 | 582.1 | -23.2 | N.A. | N.A. | |||||||
KB Real Estate Trust | 100.0% | 437.6 | 329.5 | 66.9 | 16.70% | 21.93% | |||||||
KB Savings Bank | 100.0% | 1,883.7 | 225.6 | 17.3 | 1.10% | 7.92% | |||||||
KB Investment | 100.0% | 848.7 | 230.1 | 15.4 | 1.92% | 6.99% | |||||||
KB Data Systems | 100.0% | 40.3 | 17.3 | -1.7 | N.A. | N.A. | |||||||
KB Credit Information | 100.0% | 27.7 | 15.9 | 1.1 | 3.92% | 7.25% |
Note 1) Based on each subsidiary's financial statements for group reporting 2) Based on separate financial statements of Prudential Life Insurance
18
VI. Appendix _ Condensed Income Statement by Subsidiaries
2020 | |||||||||||||||||||||||
bn won | Group | ||||||||||||||||||||||
KB Kookmin | KB Securities | KB Insurance | KB Kookmin | Prudential Life | KB Asset | KB Capital | KB Life | Others1) | |||||||||||||||
Bank | Card | Insurance | Management | Insurance | |||||||||||||||||||
Net Interest Income | 9,722.3 | 6,754.8 | 510.6 | 616.0 | 1,265.7 | 112.1 | 2.4 | 330.0 | 148.8 | -18.1 | |||||||||||||
Net Fee & Commission Income | 2,958.9 | 1,067.9 | 916.8 | -171.2 | 400.5 | -2.9 | 133.6 | 537.5 | -15.2 | 91.9 | |||||||||||||
Other Operating Profit | -188.6 | 14.0 | 14.6 | 588.4 | -311.4 | 65.6 | 8.4 | -426.2 | -80.7 | -61.2 | |||||||||||||
Gross Operating Income | 12,492.6 | 7,836.7 | 1,442.0 | 1,033.2 | 1,354.8 | 174.8 | 144.4 | 441.3 | 52.9 | 12.6 | |||||||||||||
G&A Expenses | 6,833.2 | 4,201.3 | 844.5 | 829.3 | 514.8 | 81.8 | 65.6 | 126.1 | 70.4 | 99.4 | |||||||||||||
Provision for Credit Losses | 1,043.4 | 484.3 | 23.8 | -7.7 | 396.5 | 0.5 | 0.1 | 127.4 | -0.9 | 19.5 | |||||||||||||
Net Operating Profit | 4,616.0 | 3,151.1 | 573.7 | 211.6 | 443.5 | 92.5 | 78.7 | 187.8 | -16.6 | -106.3 | |||||||||||||
Net Non-Operating Profit | 145.6 | -19.3 | 8.1 | 16.1 | -5.5 | -0.1 | -0.8 | 2.2 | -16.2 | 161.1 | |||||||||||||
Profit for the Period | 3,502.3 | 2,319.5 | 425.6 | 163.9 | 324.0 | 55.7 | 57.3 | 143.7 | -23.2 | 35.8 | |||||||||||||
Profit attributable to | 3,455.2 | 2,298.2 | 425.6 | 163.9 | 324.7 | 55.7 | 57.3 | 141.6 | -23.2 | 11.4 | |||||||||||||
controlling interests | |||||||||||||||||||||||
2019 | |||||||||||||||||||||||
bn won | Group | ||||||||||||||||||||||
KB Kookmin | KB Securities | KB Insurance | KB Kookmin | Prudential Life | KB Asset | KB Capital | KB Life | Others1) | |||||||||||||||
Bank | Card | Insurance | Management | Insurance | |||||||||||||||||||
Net Interest Income | 9,196.8 | 6,363.8 | 529.9 | 616.4 | 1,230.3 | - | 0.9 | 313.8 | 159.2 | -17.5 | |||||||||||||
Net Fee & Commission Income | 2,355.0 | 1,133.3 | 580.4 | -152.6 | 261.8 | - | 117.2 | 334.5 | -16.8 | 97.2 | |||||||||||||
Other Operating Profit | -119.9 | -178.0 | -15.9 | 667.6 | -231.1 | - | 9.5 | -257.0 | -57.7 | -57.3 | |||||||||||||
Gross Operating Income | 11,431.9 | 7,319.1 | 1,094.4 | 1,131.4 | 1,261.0 | - | 127.6 | 391.3 | 84.7 | 22.4 | |||||||||||||
G&A Expenses | 6,271.0 | 3,887.4 | 757.3 | 843.8 | 441.9 | - | 60.9 | 118.9 | 66.5 | 94.3 | |||||||||||||
Provision for Credit Losses | 670.3 | 103.6 | 14.3 | -13.0 | 439.7 | - | 0.0 | 116.6 | -3.0 | 12.1 | |||||||||||||
Net Operating Profit | 4,490.6 | 3,328.1 | 322.8 | 300.6 | 379.4 | - | 66.7 | 155.8 | 21.2 | -84.0 | |||||||||||||
Net Non-Operating Profit | 43.3 | -9.6 | 30.4 | 26.5 | 4.5 | - | -0.5 | 1.0 | 0.0 | -9.0 | |||||||||||||
Profit for the Period | 3,313.2 | 2,439.1 | 257.9 | 234.7 | 316.6 | - | 48.9 | 119.4 | 16.0 | -119.4 | |||||||||||||
Profit attributable to | 3,311.8 | 2,439.1 | 257.9 | 234.3 | 316.5 | - | 48.9 | 117.0 | 16.0 | -117.9 | |||||||||||||
controlling interests | |||||||||||||||||||||||
Note 1) Includes financial results of the holding company, the other subsidiaries and adjustment for consolidation |
19
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KB Financial Group Inc. published this content on 04 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 February 2021 09:41:12 UTC.