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View of KB Financial Group building. (Photo=Yonhap News) |
[Alpha Biz= Kim Jisun] Seoul, April 24, 2025 — KB Financial Group announced its highest-ever quarterly earnings for Q1, reaching 1.697 trillion KRW, a 62.9% increase from last year. The growth came from the recovery of losses tied to Hong Kong-linked equity-linked securities (ELS) and strong performance in non-banking subsidiaries, such as insurance.
Despite a decrease in interest income due to falling market rates, the group's non-interest income surged by 208%, driven by improved securities-related gains. KB Financial’s net interest margin (NIM) rose to 2.01%, with the bank’s NIM at 1.76%.
For the first quarter, KB Kookmin Bank’s net income increased by 636.9 billion KRW to 1.026 trillion KRW, benefiting from the recovery in securities performance. KB Insurance posted a 8.2% rise in profit, while KB Kookmin Card’s net income decreased due to higher credit loss provisions.
The board approved a 912 KRW per share dividend and announced a 3 trillion KRW share buyback. The group emphasized its commitment to value enhancement, strong capital adequacy, and efficient management.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
