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 registrant’s 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 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.

 

 

 


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 Group’s 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)

 

(W in millions, %)

   2Q 2017      1Q 2017      % Change
Increase
(Decrease)
(Q to Q)
    2Q 2016      % Change
Increase
(Decrease)

(Y to Y)
 

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)

 

(W in millions, %)

   2Q 2017      1Q 2017      % Change
Increase
(Decrease)
(Q to Q)
    2Q 2016      % Change
Increase
(Decrease)

(Y to Y)
 

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)*

 

(W in millions, %)

   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 Group’s 2017 first half earnings conference, which are based on the Group’s 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