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 April 2018

Commission File Number: 000-53445

 

 

KB Financial Group Inc.

(Translation of registrant’s name into English)

 

 

26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul 07331, 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  ☒             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):  ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

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):  ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

 

 

 


2018 First Quarter Preliminary Operating Results

On April 19, 2018, KB Financial Group Inc. (“KB Financial Group”) held an earnings conference and released its preliminary operating results for the first quarter of fiscal year 2018. The following tables reflect the key figures released during the conference. The presentation materials for the conference, which contain further details, are available at KB Financial Group’s website (http://www.kbfg.com).

The preliminary figures presented herein are based on the International Financial Reporting Standards as adopted by the Republic of Korea (“K-IFRS”) and are currently being reviewed by our independent auditors and are subject to change.

 

  1. Preliminary Operating Results of KB Financial Group (Consolidated)

 

(Won in millions, %)

   1Q 2018      4Q 2017      % Change
Increase
(Decrease)
(Q to Q)
    1Q 2017      % Change
Increase
(Decrease)

(Y to Y)
 

Operating revenue

   Specified Quarter      10,426,636        12,084,913        (13.72     9,634,858        8.22  
   Cumulative      10,426,636        39,229,265        —         9,634,858        8.22  

Net operating profit

   Specified Quarter      1,227,151        846,882        44.90       886,840        38.37  
   Cumulative      1,227,151        4,015,274        —         886,840        38.37  

Profit before income tax

   Specified Quarter      1,343,418        726,632        84.88       965,258        39.18  
   Cumulative      1,343,418        4,138,424        —         965,258        39.18  

Profit for the period

   Specified Quarter      968,389        553,721        74.89       887,589        9.10  
   Cumulative      968,389        3,343,461        —         887,589        9.10  

Profit attributable to shareholders of the parent company

   Specified Quarter      968,232        553,752        74.85       870,101        11.28  
   Cumulative      968,232        3,311,438        —         870,101        11.28  

 

Note:  

1)  The consolidated financial information stated above is based on K-IFRS 1109 effective as of January 1, 2018. The financial information for previous periods has not been restated.

 

2)  “Operating revenue” represents the sum of interest income, fee and commission income, insurance income, gain on financial assets/liabilities at fair value through profit or loss, and other operating income.


  2. Preliminary Operating Results of Kookmin Bank (Consolidated)

 

(Won in millions, %)

   1Q 2018      4Q 2017      % Change
Increase
(Decrease)
(Q to Q)
    1Q 2017      % Change
Increase
(Decrease)

(Y to Y)
 

Operating revenue

   Specified Quarter      4,099,192        6,119,413        (33.01     6,467,093        (36.61
   Cumulative      4,099,192        19,291,294        —         6,467,093        (36.61

Net operating profit

   Specified Quarter      814,232        525,966        54.81       634,665        28.29  
   Cumulative      814,232        2,649,602        —         634,665        28.29  

Profit before income tax

   Specified Quarter      938,448        419,804        123.54       672,153        39.62  
   Cumulative      938,448        2,613,706        —         672,153        39.62  

Profit for the period

   Specified Quarter      690,207        333,740        106.81       663,461        4.03  
   Cumulative      690,207        2,175,003        —         663,461        4.03  

Profit attributable to shareholders of the parent company

   Specified Quarter      690,207        333,740        106.81       663,461        4.03  
   Cumulative      690,207        2,175,003        —         663,461        4.03  

 

Note:  

1)  The consolidated financial information stated above is based on K-IFRS 1109 effective as of January 1, 2018. The financial information for previous periods has not been restated.

 

2)  “Operating revenue” represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit or loss, and other operating income.


  3. Preliminary Operating Results of KB Securities (Consolidated)

 

(Won in millions, %)

   1Q 2018      4Q 2017      % Change
Increase
(Decrease)
(Q to Q)
    1Q 2017      % Change
Increase
(Decrease)

(Y to Y)
 

Operating revenue

   Specified Quarter      1,878,985        1,574,965        19.30       1,875,810        0.17  
   Cumulative      1,878,985        5,913,322        —         1,875,810        0.17  

Net operating profit

   Specified Quarter      116,972        122,775        (4.73     128,446        (8.93
   Cumulative      116,972        370,991        —         128,446        (8.93

Profit before income tax

   Specified Quarter      115,407        158,707        (27.28     133,610        (13.62
   Cumulative      115,407        424,772        —         133,610        (13.62

Profit for the period

   Specified Quarter      81,895        103,304        (20.72     108,819        (24.74
   Cumulative      81,895        235,342        —         108,819        (24.74

Profit attributable to shareholders of the parent company

   Specified Quarter      81,893        103,304        (20.73     108,819        (24.74
   Cumulative      81,893        235,342        —         108,819        (24.74

 

Note:  

1)  The consolidated financial information stated above is based on K-IFRS 1109 effective as of January 1, 2018. The financial information for previous periods has not been restated.

 

2)  Based on KB Securities’ consolidated financial statements, as a result of which the figures differ from KB Securities’ earnings results to be released at KB Financial Group’s 2018 first quarter earnings conference, which are based on the Group’s consolidated financial statements.

 

3)  The figures for the year 2017 include income (loss) from discontinued operations relating to Hyundai Savings Bank, a subsidiary sold on October 16, 2017.


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: April 19, 2018

    By:  

/s/ Ki-Hwan Kim

    (Signature)
    Name:   Ki-Hwan Kim
    Title:   Senior Managing Director and Chief Finance Officer