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Finance

KB Financial keeps top spot in first half on non-bank gains despite bank lag

KB Financial Group posted 3.88 trillion won in first-half net profit, beating Shinhan Financial Group by 441.9 billion won, helped by a surge in non-bank earnings, especially at KB Securities. Shinhan Bank, however, out-earned KB Kookmin Bank by 233.1 billion won. KB also led in ROE and CET1 ratio. The groups set out different shareholder return plans, while KB signalled further capital allocation to its securities arm.

Crypto

KB Financial sets up 100 billion won \'KB AX Digital Asset Fund\'

KB Financial Group has formed a 100 billion won strategic investment fund to invest in companies in digital assets and artificial intelligence. It plans to find firms that can be linked to the group’s digital strategy and connect investments to actual business cooperation. KB Kookmin Bank, KB Securities, KB Insurance, KB Kookmin Card and KB Life Insurance will participate as investors, and KB Investment will manage the fund.

Finance

KB Financial to provide 6.9 trillion won in financial support for vulnerable groups and small merchants

KB Financial Group will provide 6.9 trillion won in financial support this year for young people, low-income and vulnerable groups, and small merchants and the self-employed. It will roll out tailored support through its KB National Happiness Hope Project, including 3 trillion won in inclusive finance, 3.5 trillion won in private mid-interest-rate loans and 450 billion won in write-offs of delinquent debt. It also plans additional youth-focused products and microfinance measures.