UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE13a-16 OR15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2019
Commission File Number:000-53445
KB Financial Group Inc.
(Translation of registrant’s name into English)
26,Gukjegeumyung-ro8-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 ofForm 20-F orForm 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting theForm 6-K in paper as permitted byRegulation S-T Rule 101(b)(1): ☐
Note: RegulationS-T Rule 101(b)(1) only permits the submission in paper of a Form6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting theForm 6-K in paper as permitted byRegulation S-T Rule 101(b)(7): ☐
Note: RegulationS-T Rule 101(b)(7) only permits the submission in paper of a Form6-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 Form6-K submission or other Commission filing on EDGAR.
Preliminary Operating Results for Fiscal Year 2018
On February 8, 2019, KB Financial Group Inc. (“KB Financial Group”) held an earnings conference and released its preliminary operating results for 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 International Financial Reporting Standards as adopted by the Republic of Korea (“K-IFRS”) and are currently being audited by KB Financial Group’s independent auditors and are subject to change.
| 1. | Preliminary Operating Results of KB Financial Group (Consolidated) |
(Won in millions, %) | 4Q 2018 | 3Q 2018 | % Change Increase (Decrease) (Q to Q) | 4Q 2017 | % Change Increase (Decrease) (Y to Y) | |||||||||||||||||
| Operating revenue | Specified Quarter | 10,514,972 | 9,598,084 | 9.55 | 12,084,912 | (12.99 | ) | |||||||||||||||
| Cumulative | 42,054,378 | 31,539,406 | — | 39,229,265 | 7.20 | |||||||||||||||||
| Net operating profit | Specified Quarter | 340,054 | 1,328,192 | (74.40 | ) | 846,883 | (59.85 | ) | ||||||||||||||
| Cumulative | 4,219,402 | 3,879,348 | — | 4,015,274 | 5.08 | |||||||||||||||||
| Profit before income tax | Specified Quarter | 290,858 | 1,328,874 | (78.11 | ) | 726,632 | (59.97 | ) | ||||||||||||||
| Cumulative | 4,266,256 | 3,975,398 | — | 4,138,424 | 3.09 | |||||||||||||||||
| Profit for the period | Specified Quarter | 200,487 | 953,973 | (78.98 | ) | 553,721 | (63.79 | ) | ||||||||||||||
| Cumulative | 3,069,646 | 2,869,159 | — | 3,343,461 | (8.19 | ) | ||||||||||||||||
| Profit attributable to shareholders of the parent company | Specified Quarter | 200,139 | 953,769 | (79.02 | ) | 553,752 | (63.86 | ) | ||||||||||||||
| Cumulative | 3,068,891 | 2,868,752 | — | 3,311,438 | (7.32 | ) | ||||||||||||||||
| Note: 1) | The consolidated financial information set forth above for 2018 periods is based onK-IFRS 1109 effective as of January 1, 2018. The corresponding financial information for 2017 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, %) | 4Q 2018 | 3Q 2018 | % Change Increase (Decrease) (Q to Q) | 4Q 2017 | % Change Increase (Decrease) (Y to Y) | |||||||||||||||||
| Operating revenue | Specified Quarter | 4,806,015 | 3,816,865 | 25.92 | 6,119,413 | (21.46 | ) | |||||||||||||||
| Cumulative | 18,089,885 | 13,283,870 | — | 19,291,294 | (6.23 | ) | ||||||||||||||||
| Net operating profit | Specified Quarter | 249,188 | 983,092 | (74.65 | ) | 525,966 | (52.62 | ) | ||||||||||||||
| Cumulative | 2,944,389 | 2,695,201 | — | 2,649,602 | 11.13 | |||||||||||||||||
| Profit before income tax | Specified Quarter | 205,991 | 991,892 | (79.23 | ) | 419,804 | (50.93 | ) | ||||||||||||||
| Cumulative | 3,038,259 | 2,832,268 | — | 2,613,706 | 16.24 | |||||||||||||||||
| Profit for the period | Specified Quarter | 145,090 | 725,918 | (80.01 | ) | 333,740 | (56.53 | ) | ||||||||||||||
| Cumulative | 2,224,341 | 2,079,251 | — | 2,175,003 | 2.27 | |||||||||||||||||
| Profit attributable to shareholders of the parent company | Specified Quarter | 145,090 | 725,918 | (80.01 | ) | 333,740 | (56.53 | ) | ||||||||||||||
| Cumulative | 2,224,341 | 2,079,251 | — | 2,175,003 | 2.27 | |||||||||||||||||
| Note: 1) | The consolidated financial information set forth above for 2018 periods is based onK-IFRS 1109 effective as of January 1, 2018. The corresponding financial information for 2017 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 Co., Ltd. (“KB Securities”) (Consolidated) |
(Won in millions, %) | 4Q 2018 | 3Q 2018 | % Change Increase (Decrease) (Q to Q) | 4Q 2017 | % Change Increase (Decrease) (Y to Y) | |||||||||||||||||
Operating revenue | Specified Quarter | 1,822,915 | 1,443,097 | 26.32 | 1,574,965 | 15.74 | ||||||||||||||||
| Cumulative | 6,707,466 | 4,884,551 | — | 5,913,322 | 13.43 | |||||||||||||||||
Net operating profit (loss) | Specified Quarter | (48,308 | ) | 83,080 | * | 122,775 | * | |||||||||||||||
| Cumulative | 250,087 | 298,395 | — | 370,991 | (32.59 | ) | ||||||||||||||||
Profit (Loss) before income tax | Specified Quarter | (43,263 | ) | 88,759 | * | 158,707 | * | |||||||||||||||
| Cumulative | 264,001 | 307,264 | — | 424,772 | (37.85 | ) | ||||||||||||||||
Profit (Loss) for the period | Specified Quarter | (30,126 | ) | 60,838 | * | 103,304 | * | |||||||||||||||
| Cumulative | 189,676 | 219,802 | — | 235,342 | (19.40 | ) | ||||||||||||||||
Profit (Loss) attributable to shareholders of the parent company | Specified Quarter | (30,129 | ) | 60,835 | * | 103,304 | * | |||||||||||||||
| Cumulative | 189,666 | 219,795 | — | 235,342 | (19.41 | ) | ||||||||||||||||
| Note: 1) | The consolidated financial information set forth above is based onK-IFRS 1109 effective as of January 1, 2018. The corresponding financial information for 2017 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 earnings conference for fiscal year 2018, which are based on KB Financial Group’s consolidated financial statements. |
| 3) | “Operating revenue” represents operating income based on KB Securities’ financial statements. |
| 4) | The figures set forth above for 2017 periods include income (loss) from discontinued operations relating to Hyundai Savings Bank, a subsidiary sold on October 16, 2017. |
| 5) | * indicates that a loss was recorded in the current period compared to a profit in the previous period. |
Declaration of Cash Dividends by KB Financial Group
On February 8, 2019, the board of directors of KB Financial Group passed a resolution to declare a cash dividend of KRW1,920 per common share (total dividend amount: KRW759,736,452,480), subject to shareholder approval. The record date is December 31, 2018, and in accordance with the Korean Commercial Code, the payment for such dividends is expected to be made within one month following shareholder approval at the annual general meeting of shareholders of KB Financial Group, which is expected to be held on March 27, 2019. Such date will be finalized and made publicly available upon the resolution of the board of directors of KB Financial Group to convene such meeting.
The contents of the above declaration remain subject to change pending approval at the annual general meeting of shareholders and the results of the audit by KB Financial Group’s independent auditors.
The total number of common shares that are eligible for payment of dividends is 395,696,069 shares.
Declaration of Cash Dividends by Kookmin Bank
On February 7, 2019, the board of directors of Kookmin Bank, a wholly-owned subsidiary of KB Financial Group, passed a resolution to declare a cash dividend of KRW1,650 per common share (total dividend amount: KRW667,225,541,400), subject to shareholder approval. The record date is December 31, 2018, and in accordance with the Korean Commercial Code, the payment for such dividends is expected to be made within one month following shareholder approval at the annual general meeting of shareholders of Kookmin Bank, which is expected to be held on March 21, 2019. The entire dividend amount is to be paid to KB Financial Group, which holds all of the common shares of Kookmin Bank.
The contents of the above declaration remain subject to change pending approval at the annual general meeting of shareholders of Kookmin Bank and the results of the audit by Kookmin Bank’s independent auditors.
Declaration of Cash Dividends by KB Securities
On February 7, 2019, the board of directors of KB Securities, a wholly-owned subsidiary of KB Financial Group, passed a resolution to declare a cash dividend of KRW167 per common share (total dividend amount: KRW50,000,000,000), subject to shareholder approval. The record date is December 31, 2018, and in accordance with the Korean Commercial Code, the payment for such dividends is expected to be made within one month following shareholder approval at the annual general meeting of shareholders of KB Securities, which is expected to be held on March 22, 2019. The entire dividend amount is to be paid to KB Financial Group, which holds all of the common shares of KB Securities.
The contents of the above declaration remain subject to change pending approval at the annual general meeting of shareholders of KB Securities and the results of the audit by KB Securities’ independent auditors.
Report of Change in Revenue or Profit of More than 15% (KB Securities)
On February 8, 2019, KB Financial Group reported changes in the revenue and profit of KB Securities as described below.
| Key Details | (Won in thousands, %) |
| FY 2018 | FY 2017 | Change (Amount) | Change (%) | |||||||||||||
Revenue and Profit | ||||||||||||||||
- Operating revenue | 6,707,465,818 | 5,913,322,323 | 794,143,495 | 13.43 | ||||||||||||
- Net operating profit (loss) | 250,086,551 | 370,990,584 | (120,904,033 | ) | (32.59 | ) | ||||||||||
- Profit (Loss) from continuing operations before income tax | 264,000,797 | 424,771,954 | (160,771,157 | ) | (37.85 | ) | ||||||||||
- Profit (Loss) for the period | 189,676,000 | 235,342,122 | (45,666,122 | ) | (19.40 | ) | ||||||||||
Other Financial Data | ||||||||||||||||
- Total assets | 45,045,977,421 | 37,250,839,601 | ||||||||||||||
- Total liabilities | 40,668,918,149 | 32,940,243,881 | ||||||||||||||
- Total equity | 4,377,059,272 | 4,310,595,720 | ||||||||||||||
- Capital stock | 1,493,102,120 | 1,493,102,120 | ||||||||||||||
- Total equity / Capital stock ratio (%) | 293.2 | 288.7 | ||||||||||||||
| Note: 1) | The preliminary figures presented above are based onK-IFRS and are subject to change pending approval at the annual general meeting of shareholders of KB Securities and the results of the audit by KB Securities’ independent auditors. |
| 2) | “Operating revenue” represents operating income based on KB Securities’ financial statements. |
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: February 8, 2019 | By: /s/Ki-Hwan Kim | |||||
| (Signature) | ||||||
| Name: | Ki-Hwan Kim | |||||
| Title: | Deputy President and Chief Finance Officer | |||||
