KB Kookmin Bank said on Thursday it is strengthening its inclusive finance push to support the swift economic recovery of vulnerable groups. It is accelerating support for financially excluded customers by expanding eligibility for its in-house debt adjustment programme, setting up a dedicated financial counselling channel and cutting rates on retail finance products.

KB Kookmin Bank has significantly widened the scope of its in-house debt adjustment programme. On Sept. 26 last year, it expanded eligibility from delinquent borrowers with loans of less than 30 million won under the Act on the Protection of Personal Debt Borrowers to delinquent borrowers with loans of up to 50 million won. The bank expects this to give more than 4,000 additional customers a chance to recover.

It also improved access to debt adjustment. In October 2024, KB Kookmin Bank set up a dedicated counselling organisation staffed by debt adjustment specialists and built a mobile application process for debt adjustment.

Customers can apply for debt adjustment through the KB Star Banking or KB Corporate Star Banking app and receive tailored counselling based on individual circumstances. Customers who have difficulty using mobile services can apply by visiting a branch.

It has also opened new counselling channels dedicated to vulnerable groups. On Dec. 17 last year, KB Kookmin Bank opened KB Hope Finance Centers in Seoul and Incheon dedicated to debt adjustment and credit counselling. It plans to run 2 branches first and then expand nationwide in the first half of 2026.

KB Hope Finance Centers provide guidance on various debt relief systems, including credit issue consulting based on analysis of credit scores and loan status, the bank's in-house debt adjustment programme, the Credit Recovery Committee, the New Start Fund, and personal rehabilitation and bankruptcy systems. Key services also include guidance on support schemes such as policy finance products and ways to switch from high-interest loans.

The bank is also providing support for psychological recovery. Since November last year, KB Kookmin Bank has been operating a "mind care counselling service" in partnership with the Korea EAP Association. Using bank donations as funding, it provides professional psychological counselling through 943 counselling centres nationwide to customers who receive debt adjustment counselling at the Credit Recovery Committee. The aim is to support debtors' psychological stability and daily-life recovery.

KB Kookmin Bank is stressing that financial companies should play a role as partners in recovery, not merely as creditors. It plans to build a virtuous cycle in which economically vulnerable groups can recover through their own efforts by linking credit counselling, debt adjustment and psychological counselling into a support system.

It is also expanding benefits for retail finance products. KB Kookmin Bank has continuously improved the terms of its retail finance products for customers who face burdens from financial costs and difficulties in repaying debt.

In September last year, it cut the new loan rate on KB New Hope Loan II, a flagship retail finance product, by 1 percentage point and lowered the interest rate cap to 9.5 percent a year from 10.5 percent a year.

It also increased financial access by listing the product on loan comparison platforms. It is also widening the scope of inclusive finance by sharply cutting rates on loans for mid- to low-credit borrowers, including 4 types of debt adjustment products for unsecured loans, Saeitdol loans and refinancing loans to support closure of businesses.