Summary of Interests In Subsidiaries Explanatory |
41.1 Details of major consolidated subsidiaries as of December 31, 2023, are as follows:
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Date of financial statements |
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KB Financial Group Inc. |
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Kookmin Bank |
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100.00 |
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Korea |
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Banking and foreign exchange transaction |
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KB Securities Co., Ltd. |
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100.00 |
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Korea |
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Financial investment |
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KB Insurance Co., Ltd. |
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100.00 |
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Korea |
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Non-life insurance |
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KB Kookmin Card Co., Ltd. |
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100.00 |
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Korea |
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Credit card and installment financing |
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KB Life Insurance Co., Ltd. 1 |
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100.00 |
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Korea |
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Life insurance |
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KB Asset Management Co., Ltd. |
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100.00 |
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Korea |
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Collective investment and advisory |
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KB Capital Co., Ltd. |
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100.00 |
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Korea |
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Financial Leasing |
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KB Real Estate Trust Co., Ltd. |
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100.00 |
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Korea |
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Real estate trust management |
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KB Savings Bank Co., Ltd. |
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100.00 |
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Korea |
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Savings banking |
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KB Investment Co., Ltd. |
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100.00 |
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Korea |
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Capital investment |
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KB Data System Co., Ltd. |
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100.00 |
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Korea |
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Software advisory, development, and supply |
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Kookmin Bank |
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100.00 |
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Cambodia |
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Banking and foreign exchange transaction |
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Kookmin Bank (China) Ltd. |
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100.00 |
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China |
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Banking and foreign exchange transaction |
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KB Microfinance Myanmar Co., Ltd. |
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100.00 |
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Myanmar |
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Microfinance services |
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PT Bank Syariah Bukopin |
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95.92 |
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Indonesia |
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Banking |
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PT Bukopin Finance |
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99.24 |
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Indonesia |
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Installment financing |
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KB Bank Myanmar Co., Ltd. |
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100.00 |
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Myanmar |
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Banking and foreign exchange transaction |
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Kookmin Bank, KB Kookmin Card Co., Ltd., KB Securities Co., Ltd., KB Insurance Co., Ltd., KB Capital Co., Ltd. |
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PT Bank KB Bukopin, Tbk. |
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67.57 |
2 |
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Indonesia |
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Banking and foreign exchange transaction |
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KB Securities Co., Ltd. |
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KBFG Securities America Inc. |
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100.00 |
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United States |
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Investment advisory and securities trading |
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KB Securities Hong Kong Ltd. |
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100.00 |
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China |
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Investment advisory and securities trading |
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KB Securities Vietnam Joint Stock Company |
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99.81 |
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Vietnam |
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Investment advisory and securities trading |
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KB FINA Joint Stock Company |
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77.82 |
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Vietnam |
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Investment advisory and securities trading |
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PT KB VALBURY SEKURITAS |
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65.00 |
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Indonesia |
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Investment advisory and securities trading |
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PT.KB Valbury Capital Management |
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79.00 |
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Indonesia |
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Financial investment |
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KB Insurance Co., Ltd. |
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Leading Insurance Services, Inc. |
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100.00 |
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United States |
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Management service |
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KBFG Insurance(China) Co., Ltd. |
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100.00 |
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China |
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Non-life insurance |
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PT. KB Insurance Indonesia |
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70.00 |
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Indonesia |
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Non-life insurance |
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KB Claims Survey & Adjusting |
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100.00 |
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Korea |
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Claim service |
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KB Sonbo CNS |
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100.00 |
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Korea |
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Management service |
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KB Healthcare Co., Ltd. |
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100.00 |
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Korea |
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Information and communication |
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Date of financial statements |
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KB Life Insurance Co., Ltd. 1 |
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KB Life Partners Co., Ltd. |
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100.00 |
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Korea |
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Insurance agent |
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KB Golden Life Care Co., Ltd. 4 |
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100.00 |
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Korea |
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Service |
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KB Kookmin Card Co., Ltd. |
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KB Credit Information Co., Ltd. |
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100.00 |
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Korea |
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Collection of receivables or credit investigation |
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KB Daehan Specialized Bank Plc. |
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97.45 |
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Cambodia |
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Auto Installment finance |
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PT. KB Finansia Multi Finance |
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80.00 |
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Indonesia |
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Auto Installment finance |
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KB J Capital Co., Ltd. |
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77.40 |
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Thailand |
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Service |
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i-Finance Leasing Plc. |
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100.00 |
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Cambodia |
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Leasing |
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KB Capital Co., Ltd. |
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PT Sunindo Kookmin Best Finance |
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85.00 |
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Indonesia |
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Auto Installment finance |
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Teamwink Inc. |
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95.95 |
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Korea |
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E-commerce |
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KB Kookmin Card Co., Ltd. KB Capital Co., Ltd. |
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KB KOLAO Leasing Co., Ltd. |
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80.00 |
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Laos |
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Auto Installment finance |
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Kookmin Bank, KB Data System Co., Ltd. |
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PT KB Data Systems Indonesia |
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100.00 |
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Indonesia |
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Service |
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KB Asset Management Co., Ltd. |
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KBAM Shanghai Advisory Services Co., Ltd. |
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100.00 |
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China |
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General advisory |
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KB Asset Management Singapore PTE. LTD. |
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100.00 |
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Singapore |
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Collective investment |
1 |
Prudential Life Insurance Company of Korea Ltd. has changed its name into KB Life Insurance Co., Ltd. |
2 |
Among the ownership in PT Bank KB Bukopin, Tbk., 0.05% (100,000,000 shares) is no-voting shares with no-dividends. |
3 |
On September 1, 2023, PRASAC Microfinance Institution PLC.(merging entity), a subsidiary of Kookmin Bank Co., Ltd., merged with Kookmin Bank Cambodia PLC.(merged entity), issuing 20,272,296 shares in exchange for the transfer consideration. The official name of PRASAC Microfinance Institution PLC.(merging entity) has changed to KB PRASAC BANK PLC. |
4 |
In October 2023, KB Golden Life Care Co., Ltd. was changed from a subsidiary of KB Insurance Co., Ltd. to a subsidiary of KB Life Insurance Co., Ltd. | 41.2 Details of consolidated structured entities as of December 31, 2023, are as follows:
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Consolidated structured entities |
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Reasons for consolidation |
Trusts |
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Kookmin Bank (development trust) and 10 others |
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The Group controls the trust because it has power to determine management performance of the trust and is significantly exposed to variable returns that absorb losses through the guarantees of payment of principal, or payment of principal and fixed rate of return. |
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Consolidated structured entities |
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Reasons for consolidation |
Asset-backed securitization |
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Taejon Samho The First Co., Ltd. and 105 others |
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The Group controls these investees because it has power over relevant activities in the event of default, is significantly exposed to variable returns by providing lines of credit, ABCP purchase commitments or acquisition of subordinated debt and has ability to affect those returns through its power. |
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Investment funds and others |
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KB Global Platform Fund No.2 and 207 others |
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Funds are consolidated if the Group, as a collective investor or operating manager (member), etc., can manage fund assets on behalf of other investors, or dismiss the collective investor and operating manager, and is substantially exposed to significant variable returns or has such rights. | If the Group holds more than half of the ownership interests but does not have the power over relevant activities of structured entities in accordance with agreements with trust and other related parties, those structured entities are excluded from the consolidation.
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Summary of Condensed Financial Information of Subsidiaries |
41.3 Condensed financial information of major subsidiaries as of and for the years ended December 31, 2022 and 2023, are as follows:
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Profit (loss) attributable to shareholders of the Parent Company |
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Total comprehensive income (loss) attributable to shareholders of the Parent Company |
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(In millions of Korean won) |
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₩ |
517,769,512 |
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₩ |
484,046,253 |
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₩ |
33,723,259 |
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₩ |
49,436,046 |
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₩ |
2,996,015 |
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₩ |
1,856,632 |
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KB Securities Co., Ltd. 1,2 |
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53,824,246 |
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47,946,933 |
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5,877,313 |
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14,264,399 |
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187,784 |
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263,605 |
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KB Insurance Co., Ltd. 1,2 |
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34,743,259 |
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29,017,684 |
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5,725,575 |
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11,119,856 |
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557,219 |
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1,097,725 |
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KB Kookmin Card Co., Ltd. 1 |
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29,721,017 |
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24,998,215 |
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4,722,802 |
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3,694,352 |
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378,592 |
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412,208 |
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KB Life Insurance Co., Ltd. 1,2,3,4 |
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20,924,583 |
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17,728,052 |
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3,196,531 |
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2,063,884 |
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(120,448 |
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765,785 |
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KB Life Insurance Co., Ltd. 3 |
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9,065,100 |
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8,444,355 |
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620,745 |
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898,808 |
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37,070 |
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(281,849 |
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KB Asset Management Co., Ltd. 1 |
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369,488 |
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102,970 |
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266,518 |
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233,293 |
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59,345 |
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59,367 |
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16,053,026 |
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13,946,800 |
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2,106,226 |
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1,906,694 |
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217,139 |
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209,808 |
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KB Real Estate Trust Co., Ltd. |
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518,980 |
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113,444 |
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405,536 |
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152,686 |
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67,723 |
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68,714 |
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KB Savings Bank Co., Ltd. |
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3,138,543 |
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2,854,549 |
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283,994 |
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191,337 |
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21,814 |
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21,897 |
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KB Investment Co., Ltd. 1 |
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1,378,550 |
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1,108,264 |
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270,286 |
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161,210 |
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4,807 |
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4,805 |
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KB Data System Co., Ltd. 1 |
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63,645 |
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40,570 |
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23,075 |
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233,320 |
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3,162 |
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4,546 |
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KB Credit Information Co., Ltd. 5 |
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42,219 |
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24,923 |
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17,296 |
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36,469 |
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484 |
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924 |
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Profit (loss) attributable to shareholders of the Parent Company |
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Total comprehensive income (loss) attributable to shareholders of the Parent Company |
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(In millions of Korean won) |
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₩ |
530,012,853 |
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₩ |
493,464,126 |
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₩ |
36,548,727 |
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₩ |
45,032,120 |
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₩ |
3,261,499 |
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₩ |
3,889,625 |
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KB Securities Co., Ltd. 1,2 |
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61,266,990 |
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54,967,833 |
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6,299,157 |
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11,580,526 |
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389,618 |
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389,602 |
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KB Insurance Co., Ltd. 1,2 |
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37,729,688 |
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31,474,132 |
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6,255,556 |
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11,864,879 |
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752,901 |
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879,534 |
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KB Kookmin Card Co., Ltd. 1 |
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29,365,575 |
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24,545,752 |
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4,819,823 |
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4,205,146 |
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351,133 |
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307,336 |
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KB Life Insurance Co., Ltd. 1,2,3,4 |
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31,953,218 |
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27,823,185 |
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4,130,033 |
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2,628,109 |
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82,233 |
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432,188 |
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KB Asset Management Co., Ltd. 1 |
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377,919 |
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109,645 |
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268,274 |
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204,202 |
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61,525 |
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61,756 |
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16,560,800 |
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14,300,771 |
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2,260,029 |
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2,295,471 |
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186,505 |
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182,075 |
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KB Real Estate Trust Co., Ltd. 1 |
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859,408 |
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573,348 |
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286,060 |
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148,763 |
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(84,073 |
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(84,476 |
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KB Savings Bank Co., Ltd. |
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2,661,999 |
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2,468,223 |
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193,776 |
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234,197 |
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(90,568 |
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(90,430 |
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KB Investment Co., Ltd. 1 |
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1,544,836 |
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1,265,361 |
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279,475 |
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154,287 |
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9,187 |
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9,188 |
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KB Data System Co., Ltd. 1 |
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61,508 |
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40,616 |
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20,892 |
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230,825 |
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125 |
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(1,594 |
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1 |
Financial information is based on its consolidated financial statements. |
2 |
Includes fair value adjustments arising from the acquisition. |
3 |
Prudential Life Insurance Company of Korea Ltd. and KB Life Insurance Co., Ltd, which were subsidiary companies, have merged in January 2023. |
4 |
Prudential Life Insurance Company of Korea Ltd. changed the name to KB Life Insurance Co., Ltd. |
5 |
The Parent Company sold 100% shares of KB Credit Information Co., Ltd. to KB Kookmin Card Co., Ltd. on June 30, 2023. |
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