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 July 2017
Commission File Number: 000-53445
KB Financial Group Inc.
(Translation of registrants name into English)
84, Namdaemoon-ro, Jung-gu, Seoul 04534, 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 registrants home country), or under the rules of the home country exchange on which the registrants 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 registrants 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.
2017 First Half Preliminary Operating Results
On July 20, 2017, KB Financial Group Inc. (KB Financial Group) held an earnings conference and released its preliminary operating results for the first half of fiscal year 2017. 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 Groups website (http://www.kbfg.com).
The preliminary figures presented herein are based on 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) |
( |
2Q 2017 | 1Q 2017 | % Change Increase (Decrease) (Q to Q) |
2Q 2016 | % Change Increase (Decrease) (Y to Y) |
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Operating revenue* |
Specified Quarter | 8,031,623 | 9,634,858 | (16.64 | ) | 5,390,209 | 49.00 | |||||||||||||||
Cumulative | 17,666,481 | 9,634,858 | | 12,397,699 | 42.50 | |||||||||||||||||
Net operating profit |
Specified Quarter | 1,116,147 | 886,840 | 25.86 | 625,038 | 78.57 | ||||||||||||||||
Cumulative | 2,002,987 | 886,840 | | 1,292,945 | 54.92 | |||||||||||||||||
Profit before income tax |
Specified Quarter | 1,247,011 | 965,258 | 29.19 | 750,353 | 66.19 | ||||||||||||||||
Cumulative | 2,212,269 | 965,258 | | 1,470,160 | 50.48 | |||||||||||||||||
Profit for the period |
Specified Quarter | 1,004,749 | 887,589 | 13.20 | 595,383 | 68.76 | ||||||||||||||||
Cumulative | 1,892,338 | 887,589 | | 1,149,617 | 64.61 | |||||||||||||||||
Profit attributable to shareholders of the parent company |
Specified Quarter | 990,081 | 870,101 | 13.79 | 580,363 | 70.60 | ||||||||||||||||
Cumulative | 1,860,182 | 870,101 | | 1,125,367 | 65.30 |
* | Represents the sum of interest income, fee and commission income, insurance revenue, gain on financial assets/liabilities at fair value through profit or loss, and other operating income. |
2. | Preliminary Operating Results of Kookmin Bank (Consolidated) |
( |
2Q 2017 | 1Q 2017 | % Change Increase (Decrease) (Q to Q) |
2Q 2016 | % Change Increase (Decrease) (Y to Y) |
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Operating revenue* |
Specified Quarter | 2,753,342 | 6,467,093 | (57.43 | ) | 3,921,653 | (29.79 | ) | ||||||||||||||
Cumulative | 9,220,435 | 6,467,093 | | 9,325,665 | (1.13 | ) | ||||||||||||||||
Net operating profit |
Specified Quarter | 686,847 | 634,665 | 8.22 | 456,123 | 50.58 | ||||||||||||||||
Cumulative | 1,321,512 | 634,665 | | 931,715 | 41.84 | |||||||||||||||||
Profit before income tax |
Specified Quarter | 698,914 | 672,153 | 3.98 | 458,993 | 52.27 | ||||||||||||||||
Cumulative | 1,371,067 | 672,153 | | 960,458 | 42.75 | |||||||||||||||||
Profit for the period |
Specified Quarter | 545,768 | 663,461 | (17.74 | ) | 355,937 | 53.33 | |||||||||||||||
Cumulative | 1,209,229 | 663,461 | | 743,186 | 62.71 | |||||||||||||||||
Profit attributable to shareholders of the parent company |
Specified Quarter | 545,768 | 663,461 | (17.74 | ) | 355,937 | 53.33 | |||||||||||||||
Cumulative | 1,209,229 | 663,461 | | 743,186 | 62.71 |
* | 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 Co., Ltd. (KB Securities) (Consolidated)* |
( |
2Q 2017 | 1Q 2017 | % Change Increase (Decrease) (Q to Q) |
2Q 2016 | % Change Increase (Decrease) (Y to Y) |
|||||||||||||||||
Operating revenue |
Specified Quarter | 1,210,194 | 1,875,810 | (35.48 | ) | 918,965 | 31.69 | |||||||||||||||
Cumulative | 3,086,004 | 1,875,810 | | 2,245,587 | 37.43 | |||||||||||||||||
Net operating profit (Loss) |
Specified Quarter | 89,371 | 128,446 | (30.42 | ) | (13,694 | ) | N/A | ||||||||||||||
Cumulative | 217,817 | 128,446 | | 32,872 | 562.62 | |||||||||||||||||
Profit (Loss) before income tax |
Specified Quarter | 92,062 | 133,610 | (31.10 | ) | (21,651 | ) | N/A | ||||||||||||||
Cumulative | 225,672 | 133,610 | | 29,082 | 675.99 | |||||||||||||||||
Profit (Loss) for the period |
Specified Quarter | (17,731 | ) | 108,819 | N/A | (13,453 | ) | | ||||||||||||||
Cumulative | 91,088 | 108,819 | | 35,891 | 153.79 | |||||||||||||||||
Profit (Loss) attributable to shareholders of the parent company |
Specified Quarter | (17,731 | ) | 108,819 | N/A | (13,453 | ) | | ||||||||||||||
Cumulative | 91,088 | 108,819 | | 35,891 | 153.79 |
* | Based on KB Securities consolidated financial statements, as a result of which the figures differ from KB Securities earnings released at KB Financial Groups 2017 first half earnings conference, which are based on the Groups consolidated financial statements. |
** | The above figures reflect income (loss) from discontinued operations relating to Hyundai Savings Bank, a subsidiary to be sold. |
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: July 20, 2017 |
By: /s/ Jae Keun Lee | |||||
(Signature) | ||||||
Name: | Jae Keun Lee | |||||
Title: | Managing Director and Chief Financial Officer |