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6-K 1 d36708d6k.htm FORM 6-K Form 6-K Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2025

Commission File Number: 000-53445

KB Financial Group Inc.

(Translation of registrant’s name into English)

26, Gukjegeumyung-ro 8-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 of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Table of Contents

Index

1. Summary of the 2025 First Half Business Report

2. Exhibit 99.1 KB Financial Group Review Report for the First Half of 2025 (Consolidated)

3. Exhibit 99.2 KB Financial Group Review Report for the First Half of 2025 (Separate)

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TABLE OF CONTENTS


1.		Introduction to the Company

1.1.		Business Purpose

1.2.		History

1.3.		Overview of the Business Group

1.4.		Capital Structure

1.5.		Dividends

1.6.		Amendments to the Articles of Incorporation

2.		Business

2.1.		Results of Operations

2.2.		Sources and Uses of Funds

2.3.		Other Information to Consider in Making an Investment Decision

3.		Financial Information

3.1.		Consolidated Financial Information

3.2.		Separate Financial Information

3.3.		Other Selected Financial Data

3.4.		Other Financial Information

4.		Independent Public Accountants

4.1.		Audit/ Review Services

4.2.		Public Company Accounting Oversight Board (“PCAOB”) Audit Services

4.3.		Change in Auditor

5.		Corporate Governance and Affiliated Companies

5.1.		Board of Directors & Committees under the Board

5.2.		Audit Committee

5.3.		Compensation to Directors

5.4.		Top 5 Highest-Paid Individuals

5.5.		Stock-based Compensation

5.6.		Affiliated Companies

6.		Directors, Senior Management and Employees

6.1.		Executive Directors

6.2.		Non-standing Directors

6.3.		Non-executive Directors

6.4.		Senior Management

6.5.		Employees

7.		Major Shareholders and Related Party Transactions

7.1.		Major Shareholders

7.2.		Changes in the Largest Shareholder

7.3.		Employee Stock Ownership Association

7.4.		Investments in Affiliated Companies

7.5.		Related Party Transactions

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8.		Internal Controls

8.1.		Management’s Assessment of the Effectiveness of the Internal Accounting Management System

8.2.		Audit Committee’s Assessment of the Effectiveness of the Internal Accounting Management System

8.3.		External Auditor’s Audit Opinion (Review Report) on the Effectiveness of the Internal Accounting Management System

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Summary of 2025 First Half Business Report

On August 14, 2025, KB Financial Group Inc. (“KB Financial Group,” the “Company” or the “Group”) filed its business report for the first half of 2025 (the “Business Report”) with the Financial Services Commission of Korea and the Korea Exchange. This is a summary of the Business Report translated into English.

Except where indicated otherwise, financial information contained in this summary have been prepared in accordance with the Korean equivalent of International Financial Reporting Standards (“K-IFRS”), which differ in certain important respects from generally accepted accounting principles in the United States.

All references to “KB Financial Group,” “we,” “us,” the “Company” or the “Group” are to KB Financial Group and, unless the context requires otherwise, its subsidiaries. In addition, all references to “Won” or “KRW” in this document are to the currency of the Republic of Korea.

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1. Introduction to the Company

1.1. Business Purpose

KB Financial Group is a financial holding company that was established in September 2008. Its main business purpose is to hold shares in companies that are engaged in financial or related services, as well as govern and manage such companies. Its consolidated subsidiaries are primarily engaged in the banking business, as well as the credit card business, the financial investment business, the insurance business and other related businesses.

1.2. History

•

September 26, 2008

Obtained final approval from the Financial Services Commission to establish a financial holding company

•

September 29, 2008

Establishment of the Company through a comprehensive stock transfer and listing on the New York Stock Exchange

•

October 10, 2008

Listing on the Korea Exchange

•

October 20, 2008

The largest shareholder of the Company changed from the Korean National Pension Service to ING Bank N.V.

•

October 31, 2008

The largest shareholder of the Company changed from ING Bank N.V. to the Korean National Pension Service

•

May 4, 2009

Added Kookmin Bank Cambodia PLC. as a second-tier subsidiary

•

June 22, 2009

Added KB Life Insurance Co., Ltd. (“KB Life Insurance”), formerly a second-tier subsidiary, as a first-tier subsidiary

•

July 1, 2009

Changed the name of KB Venture Capital Co., Ltd. to KB Investment Co., Ltd. (“KB Investment”)

•

January 22, 2010

The largest shareholder of the Company changed from the Korean National Pension Service to ING Bank N.V.

•

March 2, 2011

Added KB Kookmin Card Co., Ltd. (“KB Kookmin Card”) as a first-tier subsidiary following the spin-off of Kookmin Bank’s credit card business unit.

•

March 14, 2011

KB Futures Co., Ltd. was merged into KB Investment & Securities Co., Ltd. (“KB Investment & Securities”)

•

July 8, 2011

The largest shareholder of the Company changed from ING Bank N.V. to the Korean National Pension Service

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•

January 13, 2012

Added KB Savings Bank Co., Ltd. (“KB Savings Bank”) as a first-tier subsidiary

•

October 10, 2012

Added KB Kookmin Bank (China) Ltd. as a second-tier subsidiary

•

June 20, 2013

Acquired the remaining shares of KB Life Insurance, which increased the Company’s shareholding to 100%

•

September 2, 2013

Added Yehansoul Savings Bank as a first-tier subsidiary

•

January 13, 2014

Yehansoul Savings Bank was merged into KB Savings Bank

•

March 20, 2014

Added KB Capital Co., Ltd. (“KB Capital”) as a first-tier subsidiary

•

June 24, 2015

Added KB Insurance Co., Ltd. (“KB Insurance”) as a non-consolidated first-tier subsidiary

•

November 23, 2015

Acquired additional shares of KB Insurance, which increased the Company’s shareholding from 19.47% to 33.29%

•

May 31, 2016

Added Hyundai Securities Co., Ltd. (“Hyundai Securities”) as a non-consolidated first-tier subsidiary

•

June 21, 2016

Disposed of LIG Investment & Securities, Co., Ltd., a second-tier subsidiary

•

June 28, 2016

Acquired treasury shares of Hyundai Securities, which increased the Company’s equity ownership in Hyundai Securities from 22.56% to 29.62%

•

December 1, 2016

Added KB Golden Life Care Co., Ltd. as a second-tier subsidiary

•

December 30, 2016

Merged KB Investment & Securities with and into Hyundai Securities, with Hyundai Securities as the surviving entity, then changed its name to KB Securities Co., Ltd. (“KB Securities”)

•

February 8, 2017

Added KB KOLAO LEASING Co., Ltd. as a second-tier subsidiary

•

March 8, 2017

Added KB Microfinance Myanmar Co., Ltd. as a second-tier subsidiary

•

July 7, 2017

Converted KB Insurance and KB Capital into wholly-owned subsidiaries of the Company through comprehensive stock swaps

•

September 29, 2017

Added KB Asset Management Singapore Pte. Ltd. as a second-tier subsidiary (changed from a second-tier subsidiary of KB Securities to a first-tier subsidiary of KB Asset Management Co., Ltd.)

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•

October 9, 2017

Added KB SECURITIES VIETNAM JOINT STOCK COMPANY (formerly MARITIME SECURITIES INCORPORATION) as a second-tier subsidiary

•

October 16, 2017

Disposed of Hyundai Savings Bank, Co., Ltd., a second-tier subsidiary

•

December 22, 2017

Disposed of Hyundai Asset Management, Co., Ltd., a second-tier subsidiary

•

July 6, 2018

Added KB Daehan Specialized Bank PLC. as a second-tier subsidiary

•

August 21, 2018

Added KBAM Shanghai Advisory Services Co., Ltd. as a second-tier subsidiary

•

April 10, 2020

Added PRASAC Microfinance Institution PLC. as a second-tier subsidiary

•

May 18, 2020

Added PT Sunindo Kookmin Best Finance as a second-tier subsidiary

•

July 3, 2020

Added PT KB Finansia Multi Finance as a second-tier subsidiary

•

August 31, 2020

Added Prudential Life Insurance Company of Korea, Ltd. (“Prudential Life Insurance”) as a first-tier subsidiary

•

September 2, 2020

Added PT Bank Bukopin Tbk as a second-tier subsidiary (renamed PT Bank KB Bukopin, Tbk. on February 8, 2021)

•

December 16, 2020

Added KB FINA JOINT STOCK COMPANY as a second-tier subsidiary

•

December 23, 2020

Added KB Bank Myanmar Co., Ltd. as a second-tier subsidiary

•

January 29, 2021

Added J Fintech Co., Ltd as a second-tier subsidiary (renamed KB J Capital Co., Ltd. on February 16, 2021)

•

March 2, 2021

Added PT KB Data Systems Indonesia as a second-tier subsidiary

•

October 8, 2021

Added KB Healthcare Co., Ltd. as a second-tier subsidiary

•

February 14, 2022

Added PT KB Valbury Sekuritas as a second-tier subsidiary

•

May 10, 2022

Added KB Life Partners Co., Ltd. as a second-tier subsidiary

•

December 26, 2022

Added i-Finance Leasing Plc. as a second-tier subsidiary

•

December 26, 2022

Renamed Prudential Life Insurance Company of Korea, Ltd. to KB Life Insurance Co., Ltd.

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•

January 1, 2023

Merged KB Life Insurance with and into KB Life Insurance Co., Ltd. (former Prudential Life Insurance Company of Korea, Ltd.)

•

June 30, 2023

Withdrew KB Credit Information Co., Ltd. as a first-tier subsidiary and added it as a second-tier subsidiary as it became a subsidiary of KB Kookmin Card Co., Ltd. (a first-tier subsidiary)

•

August 4, 2023

Merged KB Bank Cambodia Plc. with and into PRASAC Microfinance Institution Plc.; renamed the merged entity KB PRASAC BANK PLC. and converted it into a commercial bank

•

October 5, 2023

Transferred KB Golden Life Care Co., Ltd. from being a subsidiary of KB Insurance Co., Ltd. to a subsidiary of KB Life Insurance Co., Ltd.

•

December 13, 2023

Added Teamwink Inc. as a second-tier subsidiary (renamed to KBFintech Co., Ltd. on October 14, 2024)

•

June 3, 2024

Added KB Fund Partners as a second-tier subsidiary following the split-off of Kookmin Bank’s fund services business unit

1.3. Overview of the Business Group


			(As of June 30, 2025)
Type	Name of Company	Controlling Company	Remarks
Holding Company	KB Financial Group	—	Listed
1st Tier Subsidiaries	Kookmin Bank	KB Financial Group	Not listed
	KB Securities Co., Ltd.	KB Financial Group	Not listed
	KB Insurance Co., Ltd.	KB Financial Group	Not listed
	KB Kookmin Card Co., Ltd.	KB Financial Group	Not listed
	KB Life Insurance Co., Ltd.	KB Financial Group	Not listed
	KB Asset Management Co., Ltd.	KB Financial Group	Not listed
	KB Capital Co., Ltd.	KB Financial Group	Not listed
	KB Real Estate Trust Co., Ltd.	KB Financial Group	Not listed
	KB Savings Bank Co., Ltd.	KB Financial Group	Not listed
	KB Investment Co., Ltd.	KB Financial Group	Not listed
	KB Data Systems Co., Ltd.	KB Financial Group	Not listed
2nd Tier Subsidiaries	PT Bank KB Bukopin Tbk.	Kookmin Bank	Listed (Overseas)
	Kookmin Bank (China) Limited	Kookmin Bank	Not listed (Overseas)
	KB Microfinance Myanmar Co., Ltd.	Kookmin Bank	Not listed (Overseas)
	KB Bank Myanmar Co., Ltd.	Kookmin Bank	Not listed (Overseas)
	KB PRASAC BANK PLC	Kookmin Bank	Not listed (Overseas)
	KB Fund Partners	Kookmin Bank	Not listed
	KBFG Securities America Inc.	KB Securities	Not listed (Overseas)

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			(As of June 30, 2025)
Type	Name of Company	Controlling Company	Remarks
	KB Securities Hong Kong Ltd.	KB Securities	Not listed (Overseas)
	KB SECURITIES VIETNAM JOINT STOCK COMPANY	KB Securities	Not listed (Overseas)
	KB-TS Technology Venture Private Equity Fund	KB Securities	Not listed
	KB-Stonebridge Secondary Private Equity Fund	KB Securities	Not listed
	KB-SPROTT Renewable Private Equity Fund I	KB Securities	Not listed
	KB-SP Private Equity Fund IV.(1)	KB Securities	Not listed
	KB-NAU Special Situation Corporate Restructuring Private Equity Fund	KB Securities	Not listed
	U-KB Credit No.1 Private Equity I	KB Securities	Not listed
	KB-SBI Global Strategic Capital Fund	KB Securities	Not listed
	KB FINA JOINT STOCK COMPANY	KB Securities	Not listed (Overseas)
	PT KB Valbury Sekuritas	KB Securities	Not listed (Overseas)
	KB-LB Middle Market Enterprises Innovation Private Equity Fund	KB Securities	Not listed
	KB-IMM New Star Real Estate Private Fund I	KB Securities	Not listed
	KB-Novus Genesis Private Equity Fund(2)	KB Securities	Not listed
	KB-IMM New Star Real Estate Private Fund II(3)	KB Securities	Not listed
	KB Claims Survey & Adjusting Co., Ltd.	KB Insurance	Not listed
	KB Sonbo Customer & Service	KB Insurance	Not listed
	Leading Insurance Services, Inc	KB Insurance	Not listed (Overseas)
	KBFG Insurance (China) Co., Ltd	KB Insurance	Not listed (Overseas)
	PT. KB Insurance Indonesia	KB Insurance	Not listed (Overseas)
	KB Healthcare Co., Ltd.	KB Insurance	Not listed
	KB Credit Information	KB Kookmin Card	Not listed
	KB Daehan Specialized Bank Plc.	KB Kookmin Card	Not listed (Overseas)
	PT KB Finansia Multi Finance	KB Kookmin Card	Not listed (Overseas)
	KB J Capital Co., Ltd	KB Kookmin Card	Not listed (Overseas)
	KB Life Partners Co., Ltd	KB Life Insurance	Not listed
	KB Golden Life Care Co., Ltd.	KB Life Insurance	Not listed
	KB Asset Management Singapore Pte. Ltd.	KB Asset Management	Not listed (Overseas)
	KBAM Shanghai Advisory Services Co., Ltd.	KB Asset Management	Not listed (Overseas)
	PT KB Valbury Asset Management	KB Asset Management	Not listed (Overseas)
	KB Co-investment 1st Private Equity Fund	KB Asset Management	Not listed
	KB Mezzanine Capital 4th Private Equity Fund	KB Asset Management	Not listed
	KB KOLAO LEASING Co., Ltd	KB Capital	Not listed (Overseas)
	PT. Sunindo Kookmin Best Finance	KB Capital	Not listed (Overseas)
	KBFintech Inc.	KB Capital	Not listed
	FineKB Private Equity Fund No.1	KB Investment	Not listed

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			(As of June 30, 2025)
Type	Name of Company	Controlling Company	Remarks
	KB Bio Global Expansion Private Equity Fund No.1	KB Investment	Not listed
	KB-Badgers Future Mobility ESG Fund I	KB Investment	Not listed
	FineKB Private Equity Fund No.2	KB Investment	Not listed
	PT KB Data Systems Indonesia	KB Data Systems	Not listed (Overseas)
3rd Tier Subsidiaries	PT Bukopin Finance	PT Bank KB Bukopin Tbk.	Not listed (Overseas)
	PT Bank Syariah Bukopin	PT Bank KB Bukopin Tbk.	Not listed (Overseas)
	Mangrove Master Fund	KB Asset Management Singapore Pte. Ltd.	Not listed (Overseas)
	Mangrove Feeder Fund	KB Asset Management Singapore Pte. Ltd.	Not listed (Overseas)

Notes:

(1) KB-SP Private Equity Fund IV is scheduled to be liquidated on July 25, 2025.

(2) KB-Novus Genesis Private Equity Fund was established on May 15, 2025, and was incorporated as a subsidiary of KB Securities.

(3) KB-IMM New Star Real Estate Private Fund II was established on June 24, 2025, and was incorporated as a subsidiary of KB Securities.

1.4. Capital Structure

1.4.1. Common Shares

Changes in Capital


(As of June 30, 2025)								(Unit: Won, shares)
Date	Type	Number of Shares Issued or Cancelled		Par Value		Price		Remarks
September 29, 2008	Common Stock		356,351,693		5,000		48,444	Establishment of the Company
September 2, 2009	Common Stock		30,000,000		5,000		37,250	% increase in number of common shares: 8.41865%
October 19, 2016	Common Stock		31,759,844		5,000		35,474	% increase in number of common shares: 8.22045%
December 12, 2019	Common Stock		2,303,617		5,000		—	Share Cancellation(1)
February 14, 2022	Common Stock		3,455,426		5,000		—	Share Cancellation(1)
August 1, 2022	Common Stock		3,455,426		5,000		—	Share Cancellation(1)
April 4, 2023	Common Stock		5,385,996		5,000		—	Share Cancellation(1)
August 14, 2024	Common Stock		9,982,649		5,000		—	Share Cancellation(1)
May 15, 2025	Common Stock		12,066,320		5,000		—	Share Cancellation(1)

Note:

(1) The cancelled shares constituted treasury shares acquired pursuant to a resolution of the board of directors of the Company within the limits of profit available for dividend payment, and as such, there was no change in paid-in capital.

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Number of Shares


(As of June 30, 2025)	(Unit: shares)
	Type
	Common Shares			Preferred Shares		Total			Remarks
Shares Authorized for Issuance		1,000,000,000			—		1,000,000,000			As specified in the Articles of Incorporation
Total Shares Issued (A)		418,111,537			—		418,111,537			—
Decrease in Number of Shares (B)		36,649,434			—		36,649,434			—
1. Capital Reduction		—			—		—			—
2. Cancellation		36,649,434			—		36,649,434			Cancellation of Treasury Shares
3. Redemption		—			—		—			—
4. Other		—			—		—			—
Shares Issued as of June 30, 2025 (C=A-B)		381,462,103			—		381,462,103			—
Treasury Shares (D)		17,310,128			—		17,310,128			—
Shares Outstanding (C—D)		364,151,975			—		364,151,975			—
Treasury Share Holding Ratio		4.5	%		—		4.5	%		—

Notes:

(1) On July 24, 2025, the board of directors of the Company resolved to acquire and cancel certain of the Company’s treasury shares. Pursuant to such resolution, the Company entered into a trust agreement with Hana Securities Co., Ltd. for the acquisition of Won 660 billion worth of treasury shares (5,724,197 shares) between July 24, 2025 and January 9, 2026, which will subsequently be canceled. The cancelled shares are within the limits of profit available for dividend payment, and as such, there will be no change in paid-in capital although the total number of issued shares will decrease.

1.4.2. Voting Rights


(As of June 30, 2025)				(Unit: shares)
Items		Number of Shares		Notes
Total number of issued shares	Common shares		381,462,103		—
	Preferred shares		—		—
Shares without voting rights	Common shares		17,310,128
	Preferred shares		—		—
Shares for which voting rights cannot be exercised pursuant to the Articles of Incorporation	—		—		—
Shares for which voting rights are restricted under relevant laws and regulations	—		—		—
Shares with restored voting rights	—		—		—
Total shares for which voting rights may be exercised	Common shares		364,151,975		—
	Preferred shares		—		—

Notes:

(1) On July 23, 2024, the board of directors of the Company resolved to acquire and cancel certain of the Company’s treasury shares. Pursuant to such resolution, the Company commenced the acquisition of treasury shares on August 27, 2024, and completed such acquisition on November 5, 2024, acquiring a total of 4,575,874 treasury shares. Following the termination of the trust agreement for the acquisition of the shares on March 4, 2025, the Company canceled the acquired treasury shares on May 15, 2025. For more information, please refer to the Company’s report on Form 6-K furnished to the Securities and Exchange Commission on March 4, 2025.

(2) On October 24, 2024, the board of directors of the Company resolved to acquire and cancel certain of the Company’s treasury shares. Pursuant to such resolution, the Company commenced the acquisition of treasury shares on November 29, 2024, and completed such acquisition on December 17, 2024, acquiring a total of 1,089,097 treasury shares. Following the termination of the trust agreement for the acquisition of the shares on April 30, 2025, the Company canceled the acquired treasury shares on May 15, 2025. For more information, please refer to the Company’s report on Form 6-K furnished to the Securities and Exchange Commission on April 30, 2025.

(3) On February 5, 2025, the board of directors of the Company resolved to acquire and cancel certain of the Company’s treasury shares. Pursuant to such resolution, the Company commenced the acquisition of treasury shares on February 6, 2025, and completed such acquisition on April 14, 2024, acquiring a total of 6,401,349 treasury shares. The Company canceled the acquired treasury shares on May 15, 2025. For more information, please refer to the Company’s report on Form 6-K furnished to the Securities and Exchange Commission on April 14, 2025.

(4) On April 24, 2025, the board of directors of the Company resolved to acquire and cancel certain of the Company’s treasury shares. Pursuant to such resolution, the Company commenced the acquisition of treasury shares on April 28, 2025, and completed such acquisition on June 30, 2025, acquiring a total of 3,047,395 treasury shares. The shares are expected to be canceled on January 15, 2026. For more information, please refer to the Company’s report on Form 6-K furnished to the Securities and Exchange Commission on June 30, 2025.

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1.5. Dividends

On October 24, 2024, KB Financial Group disclosed a detailed plan to enhance corporate value titled “KB Financial Group’s Sustainable Value-up Plan,” which includes information on shareholder returns and dividends. The key details of the plan are as outlined below (the full version of the plan can be accessed on KB Financial Group’s website at www.kbfg.com).

The Company’s goal is to maintain a target ROE of 10% or above, as it strives to improve profitability by enhancing its RoRWA, thereby strengthening its intrinsic corporate value.

The Company also seeks to maintain a target CET1 ratio of 13% or above. It aims to carefully manage its RWA growth rate by taking capital efficiency and profitability into consideration with the goal of maintaining a CET1 ratio in the range of mid-13% throughout the year.

The Company plans to execute its shareholder return policy in two phases. In the first phase, it will aim to utilize the capital in such amount that is equivalent to the amount exceeding 13% of its CET1 ratio as of the end of the previous year for the payment of shareholder returns in the following year. These returns will be supported through quarterly cash dividends (equitably distributed on a total annual basis) and through share buybacks and cancellations. In the second phase, the Company will aim to utilize the capital in such amount that is equivalent to the amount exceeding 13.5% of its CET1 ratio in the second half of the year to pay for additional shareholder returns. These returns, which will be made based on profits accumulated throughout the year, will be executed through share buybacks and cancellations.

These goals and expectations are subject to adjustments based on economic uncertainties, regulatory considerations, capital ratio projections, and the Company’s strategic objectives, including potential inorganic growth opportunities.

KB Financial Group’s progress report on its Sustainable Value-up Plan is available on its website (www.kbfg.com).


		(Unit: in millions of Won, except per share amounts and percentages)
Items		January 1, 2025 to June 30, 2025(1)		January 1, 2024 to December 31, 2024(2)		January 1, 2023 to December 31, 2023(3)
Par value per share (Won)			5,000		5,000		5,000
(Consolidated) Net income			3,435,693		5,078,221		4,631,932
(Consolidated) Earnings per share (Won)			9,031		12,880		11,483
Total cash dividends			669,358		1,198,257		1,173,937
Total stock dividends			—		—		—
(Consolidated) Cash dividend payout ratio (%)			19.5		23.6		25.3
Cash dividend yield (%)	Common shares		1.6		3.5		4.9
	—		—		—		—
Stock dividend yield (%)	Common shares		—		—		—
	—		—		—		—
Cash dividend per share (Won)	Common shares		1,832		3,174		3,060
	—		—		—		—
Stock dividend per share	Common shares		—		—		—
	—		—		—		—

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Notes:

(1) Includes a quarterly dividend amount of Won 334,339 million (Won 912 per common share) in the first quarter of fiscal year 2025, and an expected quarterly dividend amount of Won 335,020 million (Won 920 per common share) in the second quarter of fiscal year 2025

(2) Includes a quarterly dividend amount of Won 300,087 million (Won 784 per common share) in the first quarter of fiscal year 2024, a quarterly dividend amount of Won 299,999 million (Won 791 per common share) in the second quarter of fiscal year 2024, a quarterly dividend amount of Won 299,886 million (Won 795 per common share) in the third quarter of fiscal year 2024, and an annual dividend amount of Won 298,285 million (Won 804 per common share) for fiscal year 2024.

(3) Includes a quarterly dividend amount of Won 195,967 million (Won 510 per common share) in the first quarter of fiscal year 2023, a quarterly dividend amount of Won 195,967 million (Won 510 per common share) in the second quarter of fiscal year 2023, a quarterly dividend amount of Won 194,998 million (Won 510 per common share) in the third quarter of fiscal year 2023, and an annual dividend amount of Won 587,006 million (Won 1,530 per common share) for fiscal year 2023.

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1.6. Amendments to the Articles of Incorporation

The Company’s Articles of Incorporation were most recently amended on March 26, 2025.


Date	Shareholder meeting through which the amendments were approved and ratified	Major changes	Reason for Change
March 24, 2023	Annual General Meeting of Shareholders for Fiscal Year 2022	Establishment of: (i) the basis for determining the record date for the payment of dividends through a resolution of the Board of Directors, and (ii) an equal dividend payment policy with respect to shares in the same class, through the amendment of articles 10, 11, 15, 16, 17, 18, 19, 20, 49, 59, and 60	Establishment of the basis for determining the record date for the payment of dividends through a resolution of the Board of Directors
March 26, 2025	Annual General Meeting of Shareholders for Fiscal Year 2024	(i) Additional items designated as matters to be determined through a resolution of the Board of Directors and the establishment of an internal control committee within the Board of Directors, and (ii) allowing the determination of record dates for quarterly dividends through a resolution of the Board of Directors, through the amendment of articles 14, 20-2, 44, 48, 51, 52, 56, 59 and 60.	Establishment of an Internal Control Committee and the establishment of a basis for determining the record date for quarterly dividends through a resolution of the Board of Directors, each in accordance with amendments to the Financial Investment Services and Capital Markets Act.

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2. Business

2.1. Results of Operations


							(Unit: in millions of Won)
	For the six months ended June 30, 2025			For the six months ended June 30, 2024			For the year ended December 31, 2024			For the year ended December 31, 2023
Net interest income		6,368,691			6,396,238			12,826,714			12,180,860
Interest income		14,739,574			15,224,888			30,491,385			29,142,024
Interest expense		(8,370,883	)		(8,828,650	)		(17,664,671	)		(16,961,164	)
Net fee and commission income		1,965,984			1,909,728			3,849,627			3,673,524
Fee and commission income		2,777,199			2,726,904			5,481,843			5,368,074
Fee and commission expense		(811,215	)		(817,176	)		(1,632,216	)		(1,694,550	)
Insurance service result		849,889			1,035,068			1,649,761			1,446,852
Insurance income		6,144,414			5,577,528			11,456,191			11,005,471
Insurance expense		(5,294,525	)		(4,542,460	)		(9,806,430	)		(9,558,619	)
Net gains on financial assets/liabilities at fair value through profit or loss		2,112,363			570,710			1,012,081			2,163,065
Other insurance finance income		(413,291	)		(369,654	)		(437,001	)		(572,476	)
Net other operating expenses		(1,791,668	)		(690,568	)		(1,873,011	)		(2,712,989	)
General and administrative expenses		(3,355,261	)		(3,222,127	)		(6,938,624	)		(6,647,406	)
Operating profit before provision for credit losses		5,736,707			5,629,395			10,089,547			9,531,430
Provision for credit losses		(1,310,708	)		(981,088	)		(2,044,286	)		(3,146,409	)
Net operating profit		4,425,999			4,648,307			8,045,261			6,385,021

Notes:

(1) Based on K-IFRS (on a consolidated basis).

(2) KB Financial Group’s results of operations for the six months ended June 30, 2024 and the year ended December 31, 2023 above have been adjusted retroactively to reflect the Financial Supervisory Service’s responses to certain accounting inquiries regarding the application of K-IFRS 1117 (Insurance Contracts).

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2.2.	Sources and Uses of Funds

2.2.1.

Sources of Funds


														(Unit: in millions of Won)
		For the six months ended June 30, 2025						For the year ended December 31, 2024						For the year ended December 31, 2023
		Average Balance		Interest Rate (%)		Ratio (%)		Average Balance		Interest Rate (%)		Ratio (%)		Average Balance		Interest Rate (%)		Ratio (%)
Won Currency	Deposits		371,103,809		2.21		48.66		359,346,604		2.45		48.87		337,478,959		2.53		48.52
	Certificate of deposit		10,501,996		3.19		1.38		11,148,293		3.84		1.52		10,417,992		4.07		1.50
	Borrowings		34,329,771		2.91		4.50		32,774,664		3.47		4.46		32,807,456		3.38		4.72
	Call money		2,076,514		2.78		0.27		1,747,858		3.43		0.24		1,384,033		3.52		0.20
	Debentures		60,186,378		3.66		7.89		58,497,966		3.67		7.96		56,245,329		3.34		8.09
	Others		27,065,443		3.47		3.56		24,034,767		4.09		3.26		21,767,083		4.49		3.13

Subtotal			505,263,911		2.52		66.26		487,550,152		2.78		66.31		460,100,852		2.82		66.16

Foreign Currency	Deposits		40,608,957		3.53		5.32		37,798,747		4.12		5.14		35,675,306		3.97		5.13
	Borrowings		17,928,850		3.94		2.35		18,638,964		4.60		2.54		21,094,988		4.3		3.03
	Call money		2,207,707		4.53		0.29		1,796,999		5.16		0.24		1,348,423		4.76		0.19
	Debentures		15,621,273		3.07		2.05		14,573,073		3.29		1.98		12,884,157		3.31		1.85
	Others		1,599,440		4.03		0.21		1,166,042		4.38		0.16		1,067,253		3.51		0.15

Subtotal			77,966,227		3.57		10.22		73,973,825		4.11		10.06		72,070,127		3.96		10.35

Others	Total shareholders’ equity		59,899,108		—		7.85		59,062,845		—		8.03		56,740,649		—		8.16
	Allowances		982,431		—		0.13		1,530,852		—		0.21		1,055,315		—		0.15
	Others		118,520,666		—		15.54		113,145,013		—		15.39		105,610,633		—		15.18

Subtotal			179,402,205		—		23.52		173,738,710		—		23.63		163,406,597		—		23.49

Total			762,632,343		—		100.00		735,262,687		—		100.00		695,577,576		—		100.00

Notes:

(1) Based on K-IFRS (on a consolidated basis).

(2) The figures for the year ended December 31, 2023 above have been adjusted retroactively to reflect the Financial Supervisory Service’s responses to certain accounting inquiries regarding the application of K-IFRS 1117 (Insurance Contracts).

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2.2.2.

Uses of Funds


																		(Unit: in millions of Won)
		For the six months ended June 30, 2025								For the year ended December 31, 2024								For the year ended December 31, 2023
		Average Balance			Interest Rate (%)		Ratio (%)			Average Balance			Interest Rate (%)		Ratio (%)			Average Balance			Interest Rate (%)		Ratio (%)
Won Currency	Due from banks		14,638,616			0.73		1.92			15,397,433			0.83		2.09			14,595,696			1.04		2.10
	Securities		187,426,753			3.30		24.58			180,330,525			3.22		24.53			166,163,329			3.27		23.89
	Loans		406,152,876			4.34		53.26			390,097,807			4.67		53.06			369,004,854			4.82		53.05
	Guarantee payments under payment guarantee		8,256			2.06		—			5,835			0.99		—			5,114			0.81		—
	Call loan		176,570			2.85		0.02			264,716			3.56		0.04			286,735			3.62		0.04
	Private placement corporate bonds		1,265,015			7.26		0.17			1,127,090			5.79		0.15			1,161,338			3.08		0.17
	Credit cards		23,359,482			8.03		3.06			23,320,536			8.12		3.17			22,738,818			7.95		3.27
	Others		4,683,109			15.61		0.61			3,829,387			17.76		0.53			3,235,831			18.40		0.47
	Allowance		(4,301,022	)		—		(0.56	)		(4,193,334	)		—		(0.57	)		(3,559,486	)		—		(0.51	)

Subtotal			633,409,655			4.20		83.06			610,179,995			4.39		83.00			573,632,229			4.51		82.48

Foreign Currency	Due from banks		10,520,498			2.52		1.38			9,494,397			2.92		1.29			8,868,559			2.39		1.27
	Securities		24,320,779			5.54		3.19			23,085,246			5.60		3.14			22,373,470			4.81		3.22
	Loans		37,583,431			7.12		4.93			37,007,504			7.60		5.03			36,723,273			7.48		5.28
	Call loan		6,953,995			4.40		0.91			6,018,342			5.33		0.82			6,393,291			5.19		0.92
	Bills bought		1,787,530			4.92		0.23			1,979,563			5.52		0.27			2,047,390			5.58		0.29
	Allowance		(1,640,996	)		—		(0.22	)		(1,515,396	)		—		(0.21	)		(1,319,579	)		—		(0.19	)
	Others		2,637,746			—		0.35			2,346,259			—		0.32			2,742,464			—		0.39

Subtotal			82,162,983			5.79		10.77			78,415,915			6.23		10.66			77,828,868			5.84		11.18

Others	Cash		1,483,141			—		0.19			1,576,791			—		0.21			1,681,170			—		0.24
	Fixed assets held for business		9,283,478			—		1.22			9,391,370			—		1.28			8,788,637			—		1.26
	Others		36,293,086			—		4.76			35,698,616			—		4.85			33,646,672			—		4.84

Subtotal			47,059,705			—		6.17			46,666,777			—		6.34			44,116,479			—		6.34

Total			762,632,343			—		100.00			735,262,687			—		100.00			695,577,576			—		100.00

Notes:

(1) Based on K-IFRS (on a consolidated basis).

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2.3.	Other Information to Consider in Making an Investment Decision

2.3.1.

Capital Adequacy


KB Financial Group				(Unit: in billions of Won, except percentages)

	As of June 30, 2025			As of December 31, 2024			As of December 31, 2023
Total capital (A)		57,957			46,849			53,744
Risk-weighted assets (B)		354,230			345,981			321,319
BIS ratio (A/B)		16.36	%		16.43	%		16.73	%

Notes:

(1) Calculated in accordance with Basel III.

(2) The figures as of June 30, 2025 are preliminary.


Kookmin Bank			(Unit: in billions of Won, except percentages)

	As of June 30, 2025		As of December 31, 2024		As of December 31, 2023
Total capital (A)		42,345		40,574		39,040
Risk-weighted assets (B)		236,754		234,436		215,962
BIS ratio (A/B)		17.89		17.31		18.08

Notes:

(1) Calculated in accordance with Basel III.

(2) The figures as of June 30, 2025 are preliminary.


KB Securities Co., Ltd.				(Unit: in billions of Won, except percentages)

	As of June 30, 2025			As of December 31, 2024			As of December 31, 2023
Net operating capital (A)		5,447			5,397			5,058
Total amount at risk (B)		3,006			3,176			2,934
Maintenance equity margin (C)		135			134			134
Net capital ratio (A-B)/(C)		1,808.75	%		1,654.45	%		1,582.09	%
Capital surplus (A-B)		2,440			2,221			2,124

KB Insurance Co., Ltd.				(Unit: in billions of Won, except percentages)

	As of June 30, 2025			As of December 31, 2024			As of December 31, 2023
Available capital (A)		12,153			11,319			11,669
Required capital (B)		6,349			6,072			5,404
Capital Adequacy ratio (A/B)(2)		191.43	%		186.42	%		215.94	%

Notes:

(1) The figures as of June 30, 2025 are preliminary.

(2) Since 2023, the capital adequacy system has changed from the Risk-Based Capital (“RBC”) system to the Korean Insurance Capital Standard (“K-ICS”) system. Key changes include a shift in the valuation basis for insurance liabilities from a cost-based to a market-based approach, an increase in the confidence level for required capital measurement to 99.5%, and the adoption of a shock scenario approach in addition to the existing risk factor approach.

2.3.2. Overseas Credit Ratings


			(As of June 30, 2025)
Rating Company	Moody’s		S&P
Type	Long-term	Short-term	Long-term	Short-term
Credit Rating	A1	P-1	A	A-1

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2.3.3.

Domestic Credit Ratings


Date of Rating	Type	Credit Rating	Rating Company (Rating Range)

1/27/2022	Contingent Convertible Bonds	AA-	Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D)

1/28/2022	Contingent Convertible Bonds	AA-	NICE Investors Service (AAA ~ D)

4/29/2022	Contingent Convertible Bonds	AA-	Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D)

6/2/2022	Debentures	AAA	Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D)

6/20/2022	Commercial Paper	A1	Korea Ratings (A1 ~ D) / KIS Ratings (A1 ~ D) / NICE Investors Service (A1 ~ D)

8/16/2022	Contingent Convertible Bonds	AA-	Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D)

2/3/2023	Contingent Convertible Bonds	AA-	Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D)

6/23/2023	Commercial Paper	A1	Korea Ratings (A1 ~ D) / KIS Ratings (A1 ~ D) / NICE Investors Service (A1 ~ D)

2/28/2024	Contingent Convertible Bonds	AA-	Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D)

10/18/2024	Debentures	AAA	NICE Investors Service (AAA ~ D)

10/18/2024	Commercial Paper	A1	NICE Investors Service (A1 ~ D)

10/21/2024	Debentures	AAA	Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D)

10/21/2024	Commercial Paper	A1	KIS Ratings (A1 ~ D)

11/6/2024	Commercial Paper	A1	Korea Ratings (A1 ~ D)

1/9/2025	Contingent Convertible Bonds	AA-	Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D)

1/22/2025	Debentures	AAA	Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D)

2/21/2025	Debentures	AAA	Korea Ratings (AAA ~ D) / NICE Ratings (AAA ~ D)

2/24/2025	Debentures	AAA	KIS Ratings (AAA ~ D)

3/20/2025	Debentures	AAA	Korea Ratings (AAA ~ D) / KIS Ratings (AAA ~ D) / NICE Investors Service (AAA ~ D)

4/23/2025	Debentures	AAA	KIS Ratings (AAA ~ D) / NICE Investors Ratings (AAA ~ D)

4/24/2025	Debentures	AAA	Korea Ratings (AAA ~ D)

5/20/2025	Debentures	AAA	KIS Ratings (AAA ~ D)

5/22/2025	Debentures	AAA	Korea Ratings (AAA ~ D) / NICE Ratings (AAA ~ D)

6/24/2025	Commercial Paper	A1	NICE Investors Ratings (A1 ~ D)

6/26/2025	Commercial Paper	A1	KIS Ratings (A1 ~ D)

6/27/2025	Commercial Paper	A1	Korea Ratings (A1 ~ D)

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2.3.4.

Early Retirement Program

To enhance productivity by improving its labor structure, Kookmin Bank implemented a voluntary early retirement program following negotiations with its labor union.


Subsidiary	Date of Retirement	Number of Retired Persons
Kookmin Bank	January 28, 2019	615
	January 20, 2020	462
	January 30, 2021	800
	January 21, 2022	674
	January 18, 2023	713
	January 19, 2024	674
	January 18, 2025	647

2.3.5.

Other Factors Affecting the Group’s Financial Condition and Results of Operations

The economic outlook for Korea and its financial services sector in 2025 and for the foreseeable future remains highly uncertain as a result of, among others, (i) volatile conditions in the Korean and global economies and financial markets resulting from interest and exchange rate fluctuations, high levels of inflation as a result of increased tariffs, lower consumer confidence, stock market and real estate market volatility, rising loan delinquency rates in Korea and changes in fiscal and monetary policies, and (ii) adverse conditions in the Korean and global economies and financial markets resulting from geopolitical uncertainties, including as a result of the imposition of significant tariffs by the United States on its trading partners and other escalations in trade protectionism globally, changes in the global policies of the United States, the ongoing war between Russia and Ukraine, and accelerating de-globalization trends.

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3.	Financial Information

3.1.	Consolidated Financial Information

3.1.1.

Consolidated Statements of Financial Position


				(Unit: in millions of Won)
	As of June 30, 2025			As of December 31, 2024
Cash and due from financial institutions		34,118,314			29,869,111
Financial assets at fair value through profit or loss		88,393,886			79,450,093
Derivative financial assets		6,922,873			11,730,767
Loans measured at amortized cost		478,247,445			472,071,840
Financial investments		130,061,191			131,009,464
Investments in associates and joint ventures		945,501			947,390
Insurance assets		347,273			276,191
Reinsurance assets		1,528,005			1,497,147
Property and equipment		5,179,524			5,390,015
Investment property		3,215,232			3,759,176
Intangible assets		1,817,654			1,966,684
Net defined benefit assets		290,125			258,500
Current income tax assets		344,131			339,855
Deferred income tax assets		167,555			278,824
Assets held for sale		279,873			136,838
Assets of a disposal group held for sale		—			—
Other assets		28,764,082			18,863,637
Total assets		780,622,664			757,845,532
Financial liabilities at fair value through profit or loss		10,286,282			10,720,231
Derivative financial liabilities		6,332,298			11,783,494
Deposits		442,086,824			435,687,897
Borrowings		69,921,065			68,077,012
Debentures		74,120,211			76,171,257
Insurance contract liabilities		58,839,867			55,863,701
Reinsurance contract liabilities		63,334			56,266
Provisions		919,400			927,632
Net defined benefit liabilities		97,076			100,187
Current income tax liabilities		477,380			530,720
Deferred income tax liabilities		1,750,181			1,682,292
Other liabilities		54,774,797			36,429,662

Total liabilities		719,668,715			698,030,351

Equity attributable to shareholders of the parent company		59,069,434			57,888,952
Share capital		2,090,558			2,090,558
Hybrid securities		5,162,483			5,082,578
Capital surplus		16,645,909			16,646,734
Accumulated other comprehensive income (loss)		(276,887	)		496,922
Retained earnings		36,688,909			34,808,220
Treasury shares		(1,241,538	)		(1,236,060	)
Non-controlling interests		1,884,515			1,926,229
Total equity		60,953,949			59,815,181
Total liabilities and equity		780,622,664			757,845,532

Number of companies included as a consolidated entity		356			347

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3.1.2.

Consolidated Statements of Comprehensive Income


	(Unit: in millions of Won, except per share amounts)

	First Half of 2025						First Half of 2024
	Second Quarter			Cumulative			Second Quarter			Cumulative
Net interest income		3,106,526			6,368,691			3,226,353			6,396,238
Interest income		7,284,633			14,739,574			7,611,315			15,224,888
Interest income from financial instruments at fair value through other comprehensive income and amortized cost		6,922,324			14,005,120			7,243,831			14,472,708
Interest income from financial instruments at fair value through profit or loss		353,152			715,207			359,835			736,588
Insurance finance interest income		9,157			19,247			7,649			15,592
Interest expense		(4,178,107	)		(8,370,883	)		(4,384,962	)		(8,828,650	)
Interest expense		(3,804,895	)		(7,615,529	)		(4,012,831	)		(8,079,357	)
Insurance finance interest expense		(373,212	)		(755,354	)		(372,131	)		(749,293	)
Net fee and commission income		1,031,936			1,965,984			919,635			1,909,728
Fee and commission income		1,446,966			2,777,199			1,330,604			2,726,904
Fee and commission expense		(415,030	)		(811,215	)		(410,969	)		(817,176	)
Net insurance income		412,136			849,889			492,097			1,035,068
Insurance income		3,036,603			6,144,414			2,844,788			5,577,528
Insurance income		2,900,194			5,735,262			2,744,165			5,438,821
Reinsurance income		136,409			409,152			100,623			138,707
Insurance expense		(2,624,467	)		(5,294,525	)		(2,352,691	)		(4,542,460	)
Insurance service expense		(2,396,702	)		(4,860,901	)		(2,128,285	)		(4,103,868	)
Reinsurance expense		(227,765	)		(433,624	)		(224,406	)		(438,592	)
Net gains on financial assets/liabilities at fair value through profit or loss		1,566,145			2,112,363			321,577			570,710
Other insurance finance expenses		(273,721	)		(413,291	)		(224,347	)		(369,654	)
Net other operating expenses		(1,305,244	)		(1,791,668	)		(285,858	)		(690,568	)
General and administrative expenses		(1,749,696	)		(3,355,261	)		(1,593,891	)		(3,222,127	)
Operating income before provision for credit losses		2,788,082			5,736,707			2,855,566			5,629,395
Provision for credit losses		(655,111	)		(1,310,708	)		(552,818	)		(981,088	)
Net operating income		2,132,971			4,425,999			2,302,748			4,648,307
Net non-operating expenses		210,170			223,748			66,983			(880,981	)
Share of loss of associates and joint ventures		4,813			10,261			(694	)		(2,113	)
Net other non-operating expenses		205,357			213,487			67,677			(878,868	)
Profit before income tax expense		2,343,141			4,649,747			2,369,731			3,767,326
Income tax expense		(595,561	)		(1,203,045	)		(658,827	)		(1,000,359	)
Profit for the period		1,747,580			3,446,702			1,710,904			2,766,967
Other comprehensive income (loss) for the period, net of tax		123,435			(784,305	)		(711,804	)		(1,449,375	)
Items that will not be reclassified to profit or loss:
Remeasurements of net defined benefit liabilities		6,637			(790	)		2,756			11,751
Gains (losses) on equity securities at fair value through other comprehensive income		168,860			213,283			(230,369	)		(242,935	)
Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk		(4,862	)		(10,707	)		(2,040	)		(10,883	)
Items that may be reclassified subsequently to profit or loss:
Currency translation differences		(337,087	)		(351,553	)		119,469			282,414
Gains (losses) on debt securities at fair value through other comprehensive income		(568,282	)		342,749			559,490			(97,737	)
Share of other comprehensive income (loss) of associates and joint ventures		(2,452	)		(2,328	)		56			(86	)
Gains (losses) on cash flow hedging instruments		(61,776	)		(30,275	)		5,615			(31,182	)
Gains (losses) on hedging instruments of net investments in foreign operations		123,470			126,994			(40,016	)		(91,219	)
Insurance finance income (expenses)		798,927			(1,071,678	)		(1,126,765	)		(1,269,498	)
Total comprehensive income for the period		1,871,015			2,662,397			999,100			1,317,592
Profit attributable to:
Shareholders of the parent company		1,738,422			3,435,693			1,732,449			2,774,431
Non-controlling interests		9,158			11,009			(21,545	)		(7,464	)
Total comprehensive income for the period attributable to:
Shareholders of the parent company		1,859,757			2,657,343			1,016,474			1,312,833
Non-controlling interests		11,258			5,054			(17,374	)		4,759
Earnings per share
Basic earnings per share (Won)		4,603			9,031			4,417			7,023
Diluted earnings per share (Won)		4,565			8,950			4,377			6,934

Table of Contents

3.2.	Separate Financial Information

3.2.1.

Separate Statements of Financial Position


				(Unit: in millions of Won)
	As of June 30, 2025			As of December 31, 2024
Cash and due from financial institutions		1,275,010			398,391
Financial assets at fair value through profit or loss		1,357,402			1,243,471
Loans measured at amortized cost		359,054			359,054
Investments in subsidiaries		26,867,817			26,867,817
Property and equipment		3,523			2,800
Intangible assets		13,524			14,497
Net defined benefit assets		2,076			2,902
Deferred income tax assets		2,566			5,257
Other assets		946,515			912,634

Total assets		30,827,487			29,806,823

Borrowings		200,000			965,000
Debentures		3,860,326			2,962,032
Current income tax liabilities		439,467			502,705
Other liabilities		515,740			388,528

Total liabilities		5,015,533			4,818,265

Share capital		2,090,558			2,090,558
Hybrid securities		5,162,273			5,082,359
Capital surplus		14,753,574			14,754,475
Accumulated other comprehensive loss		(8,291	)		(8,316	)
Retained earnings		5,055,378			4,305,542
Treasury Shares		(1,241,538	)		(1,236,060	)

Total equity		25,811,954			24,988,558

Total liabilities and equity		30,827,487			29,806,823

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3.2.2. Separate Statements of Comprehensive Income


	(Unit: in millions of Won, except per share amounts)

	First Half of 2025						First Half of 2024
	Second Quarter			Cumulative			Second Quarter			Cumulative
Net interest expense		(19,665	)		(42,829	)		(12,312	)		(26,037	)
Interest income		10,549			16,076			12,546			22,363
Interest income from financial instruments at amortized cost		9,533			14,218			11,845			20,960
Interest income from financial instruments at fair value through profit or loss		1,016			1,858			701			1,403
Interest expense		(30,214	)		(58,905	)		(24,858	)		(48,400	)
Net fee and commission expense		(1,553	)		(3,343	)		(2,424	)		(3,566	)
Fee and commission income		518			990			616			994
Fee and commission expense		(2,071	)		(4,333	)		(3,040	)		(4,560	)
Net gains (losses) on financial assets at fair value through profit or loss		22,461			47,912			27,755			43,334
Net other operating income		—			2,355,586			—			2,243,250
General and administrative expenses		(28,165	)		(50,333	)		(23,843	)		(48,030	)
Operating profit before provision for credit losses		(26,922	)		2,306,993			(10,824	)		2,208,951
Provision for credit losses		(7	)		(6	)		(249	)		(345	)
Operating profit (loss)		(26,929	)		2,306,987			(11,073	)		2,208,606
Net non-operating income (expense)		(174	)		(107	)		567			(79	)
Profit (loss) before income tax		(27,103	)		2,306,880			(10,506	)		2,208,527
Income tax income (expense)		809			(6,581	)		(2,054	)		1,532
Profit (loss) for the year		(26,294	)		2,300,299			(12,560	)		2,210,059
Other comprehensive income (loss) for the year, net of tax		36			25			(11	)		36
Items that will not be reclassified to profit or loss:
Remeasurements of net defined benefit liabilities		36			25			(11	)		36
Total comprehensive income for the year		(26,258	)		2,300,324			(12,571	)		2,210,095
Earnings per share
Basic earnings per share (Won)		(219	)		5,954			(171	)		5,541
Diluted earnings per share (Won)		(217	)		5,900			(169	)		5,470

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3.3.	Other Selected Financial Data

3.3.1.

Won-denominated Liquidity Ratio


	(Unit: in millions of Won, except percentages)
	As of June 30, 2025			As of December 31, 2024			As of December 31, 2023
Current assets in Won (A)		2,400,929			592,591			656,555
Current liabilities in Won (B)		655,643			383,862			255,693
Liquidity ratio (A/B)		366.19	%		154.38	%		256.77	%

Notes:

(1) Based on K-IFRS (on a separate basis).

(2)

Calculated based on Won-denominated assets and liabilities due within one month.

3.3.2.

Profitability Ratios


					(Unit: %)
	For the six months ended June 30, 2025		For the year ended December 31, 2024		For the year ended December 31, 2023
Net income as a percentage of average total assets (ROA)		0.90		0.68		0.64
Net income as a percentage of average shareholders’ equity (ROE)		11.86		8.87		8.32

Note:

Based on K-IFRS (on a consolidated basis).

3.3.3.

20 Largest Exposures of Kookmin Bank by Borrower (As of June 30, 2025)


	(Unit: in billions of Won)
Company	Credit Extended
KB Kookmin Card Co., Ltd		1,357
Samsung Heavy Industries Co., Ltd.		1,264
E-MART Inc.		1,232
HD Hyundai Heavy Industries Co., Ltd.		1,201
SK shieldus Co., Ltd.		1,186
Samsung SDI Co., Ltd.		1,149
SK on Co., Ltd.		1,113
Samsung Electronics Co., Ltd.		1,000
Construction Guarantee		978
BANKOFCOMMUNICATION		963
Hanwha Solutions Corporation		958
LG Display Co., Ltd.		947
Strada Holdco L.P.		917
LS MnM Co., Ltd.		857
LOTTE CHEMICAL CORPORATION		804
SK Innovation Co., Ltd.		791
LG Energy Solution, Ltd.		784
Samsung Card Co., Ltd.		753
Shinhan Financial Group Co., Ltd.		719
Hyundai Samho Heavy Industries Co.,Ltd.		719

Total		19,693

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3.3.4.

10 Largest Exposures of Kookmin Bank by Chaebol Group (As of June 30, 2025)


	(Unit: in billions of Won)
Group	Credit Extended
Samsung		5,765
SK		5,338
Hanwha		4,414
Hyundai Motor		3,682
HD Hyundai		3,493
Lotte		3,439
LG		2,979
Shinsegae		1,752
GS		1,714
LS		1,470

Total		34,046

3.3.5.

Kookmin Bank’s Loan Concentration by Industry (As of June 30, 2025)


	(Unit: in billions of Won, except percentages)
Industry	Total Credit		Percentage of Total Credit
Manufacturing		59,743		26.3
Construction		4,604		2.0
Real estate activities		60,206		26.5
Wholesale and retail trade		31,486		13.8
Accommodation and food service activities		11,725		5.2
Financial activities		9,920		4.4
Others		49,786		21.9

Total		227,469		100.0

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3.3.6. Top 20 Non-Performing Loans of Kookmin Bank (As of June 30, 2025)


		(Unit: in billions of Won)
Borrower	Industry	Total Credit		Allowance for Loan Losses
Borrower A	Real estate activities		192		118
Borrower B	Construction		37		36
Borrower C	Real estate activities		35		9
Borrower D	Manufacturing		16		5
Borrower E	Real estate activities		15		5
Borrower F	Real estate activities		15		1
Borrower G	Wholesale and retail trade		15		12
Borrower H	Wholesale and retail trade		12		12
Borrower I	Real estate activities		11		2
Borrower J	Human health and social work activities		10		5
Borrower K	Construction		10		10
Borrower L	Manufacturing		10		5
Borrower M	Construction		10		10
Borrower N	Manufacturing		9		9
Borrower O	Construction		9		0
Borrower P	Construction		8		4
Borrower Q	Manufacturing		7		5
Borrower R	Manufacturing		7		2
Borrower S	Information and communications		7		1
Borrower T	Wholesale and retail trade		7		4

—	—		442		254

3.4.	Other Financial Information

See Exhibits 99.1 and 99.2 attached hereto for our consolidated and separate financial statements and relevant notes, which have been prepared in accordance with K-IFRS and reviewed by our independent auditors as stated in their review reports included therein. The review reports will also be available on our website at www.kbfg.com.

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4.	Independent Public Accountants

4.1.	Audit / Review Services

(Unit: in millions of Won, hours)

Auditor

Activity

Agreed Per Contract

Actual

Period

Compensation

Estimated
Hours

Compensation

Accrued
Hours

January 1 to June 30, 2025

Samil PricewaterhouseCoopers

Quarterly, semi-annual and annual review & audit, review of internal accounting management system (including audit of internal control over financial reporting)

1,333

11,600

713

2,860

January 1 to December 31, 2024

Samil PricewaterhouseCoopers

Quarterly, semi-annual and annual review & audit, review of internal accounting management system (including audit of internal control over financial reporting)

1,296

10,970

1,296

10,136

January 1 to December 31, 2023

Samil PricewaterhouseCoopers

Quarterly, semi-annual and annual review & audit, review of internal accounting management system (including audit of internal control over financial reporting)

1,264

11,675

1,264

11,309

4.2.	Public Company Accounting Oversight Board (“PCAOB”) Audit Services


				(Unit: in millions of Won)
Period	Auditor	Activity	Service Period	Compensation
January 1 to June 30, 2025	Samil Pricewaterhouse Coopers	PCAOB audit of consolidated financial statements and internal control over financial reporting	May 1, 2025 to April 30, 2026		827
January 1 to December 31, 2024	Samil Pricewaterhouse Coopers	PCAOB audit of consolidated financial statements and internal control over financial reporting	May 1, 2024 to April 30, 2025		804
January 1 to December 31, 2023	Samil Pricewaterhouse Coopers	PCAOB audit of consolidated financial statements and internal control over financial reporting	May 1, 2023 to April 30, 2024		784

4.3.	Change in Auditor

Pursuant to the Act on External Audit of Stock Companies and the related regulations thereunder, the Securities and Futures Commission under the Financial Services Commission had designated KPMG Samjong Accounting Corp. as the external auditor for the Company for the fiscal years ended December 31, 2020, 2021 and 2022. Following the end of KPMG Samjong Accounting Corp.’s designated period as the Company’s external auditor, the Company selected Samil PricewaterhouseCoopers to be its new external auditor for the fiscal years ending December 31, 2023, 2024 and 2025, in accordance with the criteria and processes set forth by relevant laws and regulations. Accordingly, the external auditor for the Company and its subsidiaries for the fiscal year ending December 31, 2025 continues to be Samil PricewaterhouseCoopers.

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5.	Corporate Governance and Affiliated Companies

5.1.	Board of Directors & Committees under the Board

As of June 30, 2025, our board of directors consisted of nine directors, comprising one executive director, one non-standing director and seven non-executive directors. The following committees currently serve under our board of directors:

•

Audit Committee;

•

Risk Management Committee;

•

Evaluation and Compensation Committee;

•

ESG Committee;

•

Internal Control Committee;

•

Non-Executive Director Nominating Committee;

•

Chairman Nominating Committee;

•

Subsidiaries’ Representative Director Nominating Committee; and

•

Audit Committee Member Nominating Committee (ad hoc committee).

For the list of our directors, see 6. Directors, Senior Management and Employees — 6.1. Executive Directors, — 6.2. Non-standing Directors and — 6.3. Non-executive Directors below.

5.2.	Audit Committee

The Audit Committee oversees our financial reporting and approves the appointment of our independent auditors and internal compliance officers. The committee also reviews our financial information, auditor’s examinations, key financial statement issues, the plans and evaluation of internal controls and the administration of our financial affairs by the board of directors. In connection with the general meetings of shareholders, the committee examines the agenda for, and financial statements and other reports to be submitted by, the board of directors to each general meeting of shareholders. The committee holds regular meetings every quarter and on an as-needed basis.

The following table shows a list of audit committee requirements under Articles 415-2 and 542-11 of the Commercial Act and how we fulfill each requirement as of June 30, 2025.


The Commercial Act Requirements		KB Financial Group
The Audit Committee must consist of three or more directors.		We have four Audit Committee members.

At least two-thirds of the Audit Committee members must be non-executive directors.		All four Audit Committee members, including the chairman of the committee, are non-executive directors.
The chairman of the Audit Committee must be a non-executive director.

At least one Audit Committee member must be an accounting or financial expert.		Two Audit Committee members (Whajoon Cho, Sun Yeop Kim) are accounting or financial experts.

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5.3.	Compensation to Directors

5.3.1.

Total Amount of Compensation Approved at the Annual General Meeting of Shareholders

(Unit: in millions of Won)

Total number of persons

Total compensation approved at shareholders’ meeting

Notes

Registered Directors
(Non-executive directors)

9 (7)

3,000

—

5.3.2. Total Amount of Compensation Paid


(As of June 30, 2025)	(Unit: in millions of Won)
Total number of persons(1)	Total payment(2)(3)		Average payment per person(4)		Notes
9		999		117		—

Notes: (1)

Represents the total number of applicable persons as of June 30, 2025.

(2)

Represents the total amount paid (rounded to the nearest million) for the six months ended June 30, 2025.

(3)

Total payment amount in accordance with the Company’s internal policies on compensation to directors.

(4)

Represents (i) the total amount paid (rounded to the nearest million) for the six months ended June 30, 2025, divided by (ii) the number of applicable persons for the applicable reporting period.

5.3.3. Compensation Breakdown


(As of June 30, 2025)					(Unit: in millions of Won)

	Total number of persons		Total payment		Average payment per person		Notes
Registered Directors (excluding non-executive directors and Audit Committee members)		2		650		423		—
Non-executive Directors (excluding Audit Committee members)		3		148		49		—
Audit Committee members		4		202		50		—
Internal Auditor		—		—		—		—

5.4.	Top 5 Highest-Paid Individuals

5.4.1

Compensation exceeding Won 500 million – Individual basis


(As of June 30, 2025)			(Unit: in millions of Won)

Name	Position	Total Amount	Deferred Compensation
Jong Hee Yang	Chairman & CEO	650	- Deferred short-term performance-based payment, the amount of which corresponds to a total of 6,521 shares and deferred long-term performance-based payment, the amount of which corresponds to a total of 3,945 shares. —Long-term performance-based payment (18,516 shares per year), the amount of which will be finalized at a future date pursuant to a performance evaluation over a three-year period from November 21, 2023 to November 20, 2026.
Bong Joong Kwon	Senior Managing Director and Head of the IR Division	621	- Deferred short-term performance-based payment, the amount of which corresponds to a total of 3,162 shares and deferred long-term performance-based payment, the amount of which corresponds to a total of 5,528 shares.

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5.4.2 Calculation criteria and method of compensation


Name	Compensation Type		Total Compensation (in millions of Won)	Calculation Criteria and Method
Jong Hee Yang	Earned income	Salary	450	- A monthly salary was paid in even installments each month in accordance with the amount of annual salary determined through a resolution of the Evaluation and Compensation Committee within the limit of the total amount of compensation approved at the shareholders’ meeting. (including allowances for business expenses of Won 200 million.)

		Bonus	200	- The bonus paid in 2025 consisted of Won 200 million in short-term performance-based compensation - The short-term performance-based compensation consisted of Won 200 million paid as an upfront lump sum payment for 2024 - The short-term performance evaluation index for the period after his appointment as the Chairman and CEO consisted of quantitative indicators (including ROE, total operating income, net profit from non-banking businesses, comprehensive NPL ratio, Tier 1 ratio, RORWA, and C/I ratio), as well as non-quantitative results (such as improving the core competitiveness of the Group, enhancing its core businesses, expanding new growth drivers, innovating both physical and digital channels, advancing the Group’s operating model through technology and human capital, and strengthening customer value creation and the foundation for sustainable growth). The amount of the short-term incentive payment is determined by the Evaluation and Compensation Committee based on the aggregate score of the index items above and is within the range of 0%-100% of base salary. - With respect to the quantitative indicators, the Group’s net profit for 2024 was Won 5,078.2 billion, primarily due to well-managed asset qualities and cost efficiencies. Such results, among others, were considered to be major achievements that were reflected in the performance evaluation. - With respect to the non-quantitative results, the key achievements that were considered included the shareholder return policy that led the value-up initiative in the financial industry, the stabilization of global operations, the expansion of the Group’s digital platform and the attainment of a differentiated ESG impact.

		Stock options	—	- Not applicable
		Other earned income	—	- Not applicable
	Retirement income		—	- Not applicable
	Other income		—	- Not applicable

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Name	Compensation Type		Total Compensation (in millions of Won)	Calculation Criteria and Method
Bong Joong Kwon	Earned income	Salary	115	- A monthly salary was paid in even installments each month in accordance with the amount of annual salary determined based on his position and responsibilities pursuant to our internal policy regarding executive officers.

		Bonus	489	- The bonus paid in 2025 consisted of Won 115 million in short-term performance-based compensation and Won 374 million in long-term performance-based compensation. - The short-term performance-based compensation consisted of Won 115 million paid as an upfront lump sum payment for 2024 - The short-term performance evaluation criteria for 2024 consisted of qualitative indicators linked to key management objectives in his role as Head of Investor Relations, which were comprehensively reviewed by the Evaluation and Compensation Committee. The amount of the short-term incentive payment was determined within a range of 0%-120% of the base salary. - Key achievements considered for 2024 included executing market-friendly IR and shareholder meeting processes, enhancing market confidence through accurate and transparent disclosures, improving external credit ratings management and supporting management decision-making through timely market feedback. - The long-term performance-based compensation consisted of Won 374million (4,289 shares) paid as an upfront lump sum payment for the period between 2023 and 2024. - The long-term performance evaluation criteria consisted of relative total shareholder return (relative TSR), the Group’s performance, and individual performance results. The amount of the long-term incentive payment was determined based on the achievement level of each indicator and was within a range of 0%-100% of the base salary. - With respect to the long-term performance evaluation, the relative total shareholder return was calculated based on changes in the Group’s share price relative to the average share price of its competitors during the evaluation period, while the Group’s performance and individual performance results were determined based on the arithmetic average of annual performance evaluations.

		Stock options		- Not applicable
		Other earned income	17	- Other employee benefits
	Retirement income			- Not applicable
	Other income			- Not applicable

5.5.	Stock-based Compensation

5.5.1.

Stock-Linked Cash Compensation (Phantom Stock)

Pursuant to the Group’s director compensation regulations and executive officer management regulations, the Evaluation and Compensation Committee determines various aspects of the performance evaluation and compensation of the Group’s management, and establishes and evaluates the performance evaluation and compensation criteria for management on an annual basis through its committee resolutions. The short-term performance bonuses (annual evaluation) and long-term performance bonuses (multi-year cumulative evaluation) that were determined on the basis of such evaluation results are paid and operated in the form of cash compensation and stock compensation (performance-linked shares, restricted stock).

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A portion (40 to 60%) of the short-term bonus is paid in cash immediately, while the remaining portion (60 to 40%) is converted to restricted stocks and paid on a deferred basis. The long-term bonus is granted as performance-linked shares based on a cumulative evaluation covering two years of performance (three years for the CEO). A portion of such performance-linked shares is paid in cash in an amount corresponding to the stock value, while the remaining portion is converted to restricted stocks and paid on a deferred basis, similar to the short-term performance bonuses. The deferred portions of the short-term and long-term performance bonuses are paid in cash, reflecting the stock price (fair market value) at the time of the deferred payment.

5.5.2.

Changes in the Amounts of Stock-based Compensation

5.5.2.1

Long-Term Performance Compensation


							(Unit: Number of shares, except number of recipients)

	For the six months ended June 30, 2025			For the year ended December 31, 2024			For the year ended December 31, 2023			For the year ended December 31, 2022
Number of Recipients(1)(2)		12			13			11			13
Number of Performance-Linked Shares Granted(2)(3)		40,267			73,213			97,995			58,317
Number of Performance-Linked Shares Paid During the Period (a+b)(4)		41,877			69,947			136,045			36,471
a. Number of Shares for Stock-Linked Cash Compensation		20,406			33,431			63,934			18,234
b. Number of Shares Converted to Restricted Stocks to be Paid on a Deferred Basis		21,471			36,516			72,111			18,237
Evaluation Adjustment		(684	)		(4,146	)		(839	)		(1,003	)
Cumulative Number of Performance-Linked Shares Paid (Sum of Stock-Linked Cash Compensation and Restricted Stock Conversion)(5)		247,869			242,463			216,889			169,382
Number of Unpaid Performance-Linked Shares(3)(6)		145,299			147,593			148,473			187,362

Notes: (1)

Based on the beneficiaries reported to the tax office pursuant to Article 20 of the Income Tax Act of Korea.

(2)

Based on the number of individuals who entered into stock-based compensation agreements each year and the number of shares scheduled to be granted according to such agreements.

(3)

Adjusted based on the period of employment during the performance-linked share grant period.

(4)

Represents the final number of shares determined after adjustments based on evaluation results. According to the Act on the Corporate Governance of Financial Companies, a portion (40 to 60%) is paid as stock-linked cash compensation applying the stock price (fair market value) at the end of the evaluation period, while the remainder (60 to 40%) is converted to restricted stocks and paid on a deferred basis for one year from the end of the evaluation period or one year after retirement, and then paid over three years applying the stock price (fair market value) at the time of each deferred payment.

(5)

Represents the cumulative number of shares paid up to the record date of disclosure during the reporting period.

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(6)

Represents the number of shares granted at the end of the year minus the actual number of shares paid.

5.5.2.2.

Restricted Stock


					(Unit: Number of shares, except number of recipients)

	For the six months ended June 30, 2025		For the year ended December 31, 2024		For the year ended December 31, 2023		For the year ended December 31, 2022
Number of Payment Recipients		21		26		23		15
Number of Shares Confirmed for Deferral(1)		43,076		64,997		113,124		46,557
Number of Shares Paid(1)		60,626		73,878		66,512		58,434
Cumulative Number of Shares Paid(3)		201,016		198,824		188,802		187,020
Number of Unpaid Shares(1)		144,203		161,753		170,634		124,022

Notes: (1)

Based on the number of restricted stocks confirmed based on the period of employment and the resolutions of the Evaluation and Compensation Committee.

(2)

Restricted stock is paid in cash reflecting the stock price (fair market value) at the time of each deferred payment, after one year from the end of the evaluation period or one year after retirement, over three years.

(3)

Represents the cumulative number of shares paid up to the record date of disclosure during the reporting period.

5.6.	Affiliated Companies

5.6.1.

List of Affiliated Companies

Affiliated companies of KB Financial Group that are first-tier subsidiaries and KB Financial Group’s ownership of such companies as of June 30, 2025 are as follows.

Kookmin Bank (100.00%)

KB Securities Co., Ltd. (100.00%)

KB Insurance Co., Ltd. (100.00%)

KB Kookmin Card Co., Ltd. (100.00%)

KB Life Insurance Co., Ltd. (100.00%)

KB Asset Management Co., Ltd. (100.00%)

KB Capital Co., Ltd. (100.00%)

KB Real Estate Trust Co., Ltd. (100.00%)

KB Savings Bank Co., Ltd. (100.00%)

10)

KB Investment Co., Ltd. (100.00%)

11)

KB Data Systems Co., Ltd. (100.00%)

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6.	Directors, Senior Management and Employees

6.1.	Executive Directors

As of June 30, 2025, we had one executive director. The name, position and the end of the term of our executive director and the number of shares of our common stock he owned as of June 30, 2025 are set forth below.

Name

Date of Birth

Position

Common Shares Owned

End of Term

Jong Hee Yang

June 1961

Chairman & Chief Executive Officer

5,914

November 20, 2026

6.2.	Non-standing Directors

As of June 30, 2025, we had one non-standing director. The name, position and the end of the term of our non-standing director and the number of shares of our common stock he owned as of June 30, 2025 are set forth below.

Name

Date of Birth

Position

Common Shares Owned

End of Term(1)

Hwan Ju Lee

October 1964

Non-standing Director

4,131

March 25, 2027

Note: (1)

The date designated as Mr. Hwan Ju Lee’s end of term is the date of the annual general meeting of shareholders for fiscal year 2026, which is expected be held in March 2027.

6.3.	Non-executive Directors

As of June 30, 2025, we had seven non-executive directors. The name, position and the end of the term of our non-executive directors and the number of shares of our common stock they respectively owned as of June 30, 2025 were as follows.


Name	Date of Birth	Position	Common Shares Owned		End of Term
Whajoon Cho	February 1957	Non-executive Director		—	March 25, 2026
Jungsung Yeo	April 1960	Non-executive Director		—	March 25, 2026
Jaehong Choi	August 1962	Non-executive Director		—	March 25, 2026
Eun Young Chah	October 1962	Non-executive Director		—	March 25, 2027
Myong-Hwal Lee	May 1964	Non-executive Director		—	March 21, 2026
Sung—Yong Kim	March 1966	Non-executive Director		—	March 25, 2026
Sun Yeop Kim	November 1969	Non-executive Director		—	March 25, 2027

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6.4.	Senior Management

Members of our senior management as of June 30, 2025 are as follows.

Name

Date of Birth

Position

Common Shares
Owned(1)

End of Term

Jae Keun Lee

May 1966

Senior Executive Vice President and Chief Business Officer of Global

2,119

December 31, 2025

Chang Kwon Lee

November 1965

Senior Executive Vice President and Chief Digital Officer and Chief IT Officer

3,010

December 31, 2025

Dae Hwan Lim

November 1965

Executive Vice President and Chief Compliance Officer

2,334

December 31, 2025

Young June Park

November 1969

Senior Managing Director and Chief Strategy Officer

845

December 31, 2025

Bong Joong Kwon

November 1969

Senior Managing Director and Head of the IR Division

3,363

December 31, 2025

Hong Sun Yum

February 1971

Senior Managing Director and Chief Risk Management Officer

1,144

December 31, 2026

Hyo Ik Park

January 1970

Senior Managing Director and Chief Business Officer of Insurance

1,448

December 31, 2025

Shin Dong Jeung

January 1966

Senior Managing Director and Head of KB Research

1,056

December 31, 2025

Dae Hyun Cha

January 1966

Senior Managing Director and Chief Officer of Audit Department

2,266

December 31, 2025

Young Gi Seo

August 1965

Senior Managing Director and Vice Head of KB Research

—

December 31, 2026

Keoung Nam Kim

August 1967

Managing Director and Head of the ESG Division

2,569

December 31, 2025

Sang Rok Na

August 1972

Managing Director and Chief Financial Officer

1,373

December 31, 2025

Hyo Sung Jeon

March 1971

Managing Director and Chief Human Resources Officer

2,073

December 31, 2025

Jin Young Park

September 1972

Chief Public Relation Officer

2,625

December 31, 2025

Young Sei Park

January 1968

Chief Consumer Protection Officer

2,087

December 31, 2025

Young Suh Cho

February 1971

Head of the AI • Digital Division

2,000

December 31, 2025

Sang Won Oh

December 1967

Head of the IT Division

1,270

December 31, 2025

Byoung Jip Kim

April 1980

Head of the Financial AI Center 1

—

December 31, 2025

Kyeong Jong Lee

February 1978

Head of the Financial AI Center 2

—

December 31, 2025

Hyun Jung Lee

March 1977

Head of the Customer Experience Design Center

415

December 31, 2025

Byoung Ha Choi

September 1972

Head of the Group Architecture Center

548

December 31, 2025

Joo Hyun Kim

November 1970

Head of the Group Cloud Center

357

December 31, 2025

Myoung Hwa Park

December 1969

Head of the Planning & Coordination Department

837

December 31, 2025

Note: (1)

The numbers of common shares owned are as of June 30, 2025 and includes those owned in the holder’s name under the employee stock ownership association’s account, and may differ from the number of shares owned as reported pursuant to Article 173 of the Financial Investment Services and Capital Markets Act.

As of June 30, 2025, the following management also served as senior management at our subsidiaries.

Table of Contents


Name	Subsidiary	Position	Appointment Date
Hwan Ju Lee	Kookmin Bank	Chief Executive Officer	January 2025
Keoung Nam Kim	Kookmin Bank	Managing Director, ESG Division	January 2025
Jin Young Park	Kookmin Bank	Managing Director, Brand & PR Group	January 2024
Young Sei Park	Kookmin Bank	Senior Executive Vice President, Consumer Protection Group	January 2025
Young Suh Cho	Kookmin Bank	Senior Executive Vice President, AI/Data Innovation Division	January 2025
Sang Won Oh	Kookmin Bank	Senior Executive Vice President, Tech Development Group	January 2024
Byoung Jip Kim	Kookmin Bank	Managing Director, Head of the Financial AI Center 1	January 2025
Kyeong Jong Lee	Kookmin Bank	Managing Director, Head of the Financial AI Center 2	January 2025
Hyun Jung Lee	Kookmin Bank	Head of the Customer Experience Design Center	January 2025
Byoung Ha Choi	Kookmin Bank	Head of the Tech Development Division	January 2025
Joo Hyun Kim	Kookmin Bank	Head of the Cloud Platform Department	February 2022
Myoung Hwa Park	Kookmin Bank	Head of the Planning & Coordination Department	January 2025
Young June Park	KB Securities	Non-standing Director	February 2025
Sang Rock Na	KB Insurance	Non-standing Director	February 2025
Hyo Sung Jeon	KB Kookmin Card	Non-standing Director	March 2025
Bong Joong Kwon	KB Life Insurance	Non-standing Director	March 2025
Hyo Ik Park	KB Asset Management	Non-standing Director	March 2025

6.5.

Employees

The following table shows information regarding our employees and compensation paid to them as of June 30, 2025.


							(Unit: in millions of Won)
Number of Employees(1)	Average Tenure of Employees(2)			Total Amount of Compensation(3)			Average Compensation per Person(4)
142		3 years and 4months (16 years and 11months	)		17,463	(5)		124	(5)

Notes:

(1) Includes all employees as of June 30, 2025, including executive officers.

(2)

The duration in parentheses includes tenure at our subsidiaries.

(3)

Based on the sum of all compensation paid from January 1, 2025 to June 30, 2025.

(4)

Based on the sum of the average monthly compensation of each month from January 1, 2025 to June 30, 2025, which is computed by dividing the sum of all compensation paid each month by the number of employees (including executive officers) at the end of each month.

(5)

The total amount of compensation paid from January 1, 2025 to June 30, 2025 includes special bonuses for the fiscal year 2024. Excluding such special bonuses, the average compensation per employee amounts to Won 105 million.

The following table shows information regarding our executive officers and compensation paid to them as of June 30, 2025.


			(Unit: in millions of Won)
Number of Executive Officers(A)(1)	Total Amount of Annual Salaries(B)(2)		Average Annual Salary per Person(B/A)(2)
13		4,586		376

Note:

(1) Excludes 10 executive officers who served primarily as executive officers at our subsidiaries.

(2)

The calculation basis for the total amount of annual salaries and the average annual salary per person is the same as that for employees, in the table above.

Table of Contents

7.	Major Shareholders and Related Party Transactions

7.1.	Major Shareholders

The following table presents information regarding holders of 5% or more of our total issued shares based on our shareholder registry as of June 30, 2025, unless specified otherwise.


			(Unit: shares, %)
Name	Number of Shares of Common Stock		Percentage of Total Issued Shares(1)
Korean National Pension Service		33,064,648		8.40
The Capital Group Companies,Inc.(2)		31,763,237		8.07
JP Morgan Chase Bank, N.A.(3)		20,521,031		5.21
BlackRock Fund Advisors(4)		25,050,939		6.02

Notes:

(1) Based on 393,528,423 shares of our common stock issued as of May 12, 2025.

(2)

The above number of shares and the percentage of total issued shares held by The Capital Group Companies, Inc. are as of December 31, 2024 and are based on disclosure made by The Capital Group Companies, Inc. in a statement of acquisition filing on January 13, 2025.

(3)

Depositary under the Company’s ADR program. The voting rights are held by ADR holders.

(4)

The above number of shares and the percentage of total issued shares held by BlackRock Fund Advisors are based on the disclosure made by BlackRock Fund Advisors in a statement of acquisition filing on March 10, 2021.

7.2.	Changes in the Largest Shareholder


						(Unit: shares, %)

Name of Largest Shareholder	Date of Change in Largest Shareholder/ Date of Change in Number of Shares Owned		Number of Shares of Common Stock(1)			Percentage of Total Issued Shares(2)
Korean National Pension Service		December 31, 2019		41,468,003			9.97
Korean National Pension Service		February 1, 2020		41,462,588	(3)		9.97
Korean National Pension Service		October 12, 2020		41,402,150			9.96
Korean National Pension Service		December 31, 2020		41,287,280			9.93
Korean National Pension Service		June 30, 2021		40,626,942			9.77
Korean National Pension Service		December 31, 2021		37,626,516			9.05
Korean National Pension Service		January 27, 2022		37,188,199	(4)		8.94
Korean National Pension Service		March 31, 2022		36,008,504			8.73
Korean National Pension Service		June 30, 2022		33,830,623			8.20
Korean National Pension Service		September 30, 2022		32,594,691			7.97
Korean National Pension Service		October 12, 2022		32,457,827	(5)		7.94
Korean National Pension Service		December 31, 2022		32,499,151			7.95
Korean National Pension Service		March 31, 2023		33,572,593			8.21
Korean National Pension Service		June 30, 2023		33,183,590			8.22
Korean National Pension Service		September 30, 2023		35,321,767			8.75
Korean National Pension Service		October 6, 2023		35,273,578			8.74
Korean National Pension Service		December 31, 2023		33,473,917			8.30
Korean National Pension Service		February 29, 2024		33,704,092			8.35
Korean National Pension Service		March 31, 2024		33,200,471			8.23
Korean National Pension Service		June 30, 2024		33,326,122			8.26
Korean National Pension Service		September 30, 2024		32,308,082			8.21
Korean National Pension Service		December 31, 2024		33,095,691			8.41
Korean National Pension Service		March 31, 2025		32,919,773			8.37
Korean National Pension Service		June 30, 2025		33,064,648			8.40

Table of Contents

Notes:

(1) Based on our shareholder registry as of the end of each applicable year unless specified otherwise.

(2)

Total number of shares of common stock issued as of the following dates:

From October 19, 2016 to December 12, 2019: 418,111,537

From December 12, 2019 to February 14, 2022: 415,807,920

From February 14, 2022 to August 1, 2022: 412,352,494

From August 1, 2022 to April 4, 2023: 408,897,068

From April 4, 2023 to August 14, 2024: 403,511,072

From August 14,2024 to May 15, 2025: 393,528,423

After May 15, 2025: 381,462,103(However, the number of shares and the shareholding ratio of the National Pension Service as of June 30, 2025 are based on the shareholder registry as of May 12, 2025, or 393,528,423 shares.)

(3)

Based on disclosure made by the Korean National Pension Service in a statement of acquisition filing on February 7, 2020.

(4)

Based on disclosure made by the Korean National Pension Service in a statement of disposal filing on February 4, 2022.

(5)

Based on disclosure made by the Korean National Pension Service in a statement of disposal filing on November 2, 2022.

7.3.	Employee Stock Ownership Association (As of June 30, 2025)


	(Unit: shares)
Company Name	Number of Shares of Common Stock Owned
KB Financial Group Inc.		80,413
Kookmin Bank		7,403,924
KB Securities Co., Ltd.		71,328
KB Insurance Co., Ltd.		786,674
KB Kookmin Card Co., Ltd.		684,109
KB Life Insurance Co., Ltd.		21,986
KB Asset Management Co., Ltd.		17,440
KB Capital Co., Ltd.		140,681
KB Real Estate Trust Co., Ltd.		22,966
KB Savings Bank Co., Ltd.		16,900
KB Investment Co., Ltd.		3,846
KB Data Systems Co., Ltd.		60,973
KB Credit Information		11,758
KB Fund Partners Co., Ltd.		23,978
Others(1)		29,367

Total		9,376,343

Note:

(1) Shares of common stock attributable to an account owned by the employee stock ownership association of KB Financial Group.

7.4.	Investments in Affiliated Companies


(As of June 30, 2025)					(Units: shares, %, millions of Won)
Company Name	Ending Balance				Total assets as of the latest fiscal year		Net income(loss) for the latest fiscal year
Company Name		Number of shares owned	Ownership	Book value	Total assets as of the latest fiscal year		Net income(loss) for the latest fiscal year
Kookmin Bank		404,379,116	100	14,821,721		574,607		2,188
KB Securities Co., Ltd.		298,620,424	100	3,342,391		71,121		339
KB Insurance Co., Ltd.		66,500,000	100	2,375,430		42,709		558
KB Kookmin Card Co., Ltd.		92,000,000	100	1,953,175		29,363		181
KB Life Insurance Co., Ltd. (Formerly, Prudential Life Insurance)		16,201,518	100	2,795,367		35,770		116
KB Asset Management Co., Ltd.		7,667,550	100	96,312		444		72
KB Capital Co., Ltd.		32,175,147	100	873,811		18,035		124
KB Real Estate Trust Co., Ltd.		21,616,085	100	271,553		1,156		(22	)
KB Savings Bank Co., Ltd.		8,001,912	100	176,813		2,356		1
KB Investment Co., Ltd.		22,525,328	100	154,910		1,497		3
KB Data Systems Co., Ltd.		800,000	100	6,334		69		5

Total		—	—	26,867,817		—		—

Note: (1) Based on each affiliate’s financial statements prepared in accordance with K-IFRS; amounts for the latest fiscal year are presented in units of billions of Won.

Table of Contents

7.5.	Related Party Transactions

7.5.1.

Purchase of capital securities issued by KB Securities Co., Ltd.

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Securities Co., Ltd.

Subsidiary

No. 1 Private Placement of Capital Securities in Won

200

March 31, 2022

4.300

March 31, 2052

(may be extended)

Working capital

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Securities Co., Ltd.

Subsidiary

No. 3 Private Placement of Capital Securities in Won

230

September 30, 2022

5.500

September 30, 2052

(may be extended)

Working capital

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Securities Co., Ltd.

Subsidiary

No. 4 Private Placement of Capital Securities in Won

100

May 8, 2023

5.350

May 8, 2053

(may be extended)

Working capital

7.5.2.

Purchase of capital securities issued by KB Capital Co., Ltd.

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Capital Co., Ltd.

Subsidiary

No. 299 Private Placement of Capital Securities in Won

March 27, 2015

7.840

%(1)

March 27, 2045

(may be extended)

Working capital

Note: (1)

The interest rate has increased from its initial rate due to the non-exercise of the call option.

Table of Contents

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Capital Co., Ltd..

Subsidiary

No. 320 Private Placement of Capital Securities in Won

September 24, 2015

5.989

%(1)

September 24, 2045

(may be extended)

Working capital

Note: (1)

The interest rate has increased from its initial rate due to the non-exercise of the call option.

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Capital Co., Ltd.

Subsidiary

No. 343 Private Placement of Capital Securities in Won

March 29, 2016

6.305

%(1)

March 29, 2046

(may be extended)

Working capital

Note: (1)

The interest rate has increased from its initial rate due to the non-exercise of the call option.

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Capital Co., Ltd.

Subsidiary

No. 352 Private Placement of Capital Securities in Won

June 28, 2016

6.466

%(1)

June 28, 2046

(may be extended)

Working capital

Note: (1)

The interest rate has increased from its initial rate due to the non-exercise of the call option.

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Capital Co., Ltd.

Subsidiary

No. 367 Private Placement of Capital Securities in Won

November 28, 2016

6.952

%(1)

November 28, 2046

(may be extended)

Working capital

Note: (1) The interest rate has increased from its initial rate due to the non-exercise of the call option.

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Capital Co., Ltd.

Subsidiary

No. 378 Private Placement of Capital Securities in Won

April 27, 2017

7.664

%(1)

April 27, 2047

(may be extended)

Working capital

Note: (1) The interest rate has increased from its initial rate due to the non-exercise of the call option.

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Capital Co., Ltd.

Subsidiary

No. 460 Private Placement of Capital Securities in Won

100

September 25, 2020

3.376

September 25, 2050

(may be extended)

Working capital

Table of Contents

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Capital Co., Ltd.

Subsidiary

No. 486 Private Placement of Capital Securities in Won

100

February 17, 2022

4.495

February 17, 2052

(may be extended)

Working capital

7.5.3. Purchase of capital securities issued by KB Real Estate Trust Co., Ltd.

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Real Estate Trust Co., Ltd.

Subsidiary

No. 1 Private Placement of Capital Securities in Won

150

June 27, 2025

7.800

June 27, 2054

(may be extended)

Working capital

7.5.4.

Purchase of subordinated bonds issued by KB Savings Bank Co., Ltd.

(Unit: in billions of Won)

Issuer

Relationship

Type

Issue Amount

Issue Date

Interest Rate

Maturity Date

Use of Proceeds

KB Savings Bank Co., Ltd.

Subsidiary

No. 1 Subordinated Bonds

in Won

June 25, 2021

1.600

June 25, 2031

Working capital

7.5.5.

Prepayments and Loans to Subsidiaries

(Unit: in billions of Won)

Name

Relationship

Account

Loan Amount

Current Balance

Credit Offering Date

Interest Rate

Maturity Date

KB Investment Co., Ltd.

Subsidiary

Loans(1)

July 14, 2017

2.653%

July 12, 2025

Note: (1)

Unsecured credit loans

(Unit: in billions of Won)

Name

Relationship

Account

Loan Amount

Current Balance

Credit Offering Date

Interest Rate

Maturity Date

KB Investment Co., Ltd.

Subsidiary

Loans(1)

July 13, 2018

2.653%

July 12, 2025

Note: (1)

Unsecured credit loans

Table of Contents

(Unit: in billions of Won)

Name

Relationship

Account

Loan Amount

Current Balance

Credit Offering Date

Interest Rate

Maturity Date

KB Investment Co., Ltd.

Subsidiary

Loans(1)

March 8, 2019

3.165%

March 6, 2025


Note:		(1)		Unsecured credit loans

(Unit: in billions of Won)

Name

Relationship

Account

Loan Amount

Current Balance

Credit Offering Date

Interest Rate

Maturity Date

KB Investment Co., Ltd.

Subsidiary

Loans(1)

March 9, 2020

3.165%

March 6, 2025


Note:		(1)		Unsecured credit loans

(Unit: in billions of Won)

Name

Relationship

Account

Loan Amount

Current Balance

Credit Offering Date

Interest Rate

Maturity Date

KB Investment Co., Ltd.

Subsidiary

Loans(1)

July 13, 2020

2.653%

July 12, 2025


Note:		(1)		Unsecured credit loans

(Unit: in billions of Won)

Name

Relationship

Account

Loan Amount

Current Balance

Credit Offering Date

Interest Rate

Maturity Date

KB Investment Co., Ltd.

Subsidiary

Loans(1)

December 20, 2021

2.858%

December 19, 2025


Note:		(1)		Unsecured credit loans

(Unit: in billions of Won)

Name

Relationship

Account

Loan Amount

Current Balance

Credit Offering Date

Interest Rate

Maturity Date

KB Investment Co., Ltd.

Subsidiary

Loans(1)

July 13, 2022

2.653%

July 12, 2025


Note:		(1)		Unsecured credit loans

(Unit: in billions of Won)

Name

Relationship

Account

Loan Amount

Current Balance

Credit Offering Date

Interest Rate

Maturity Date

KB Investment Co., Ltd.

Subsidiary

Loans(1)

July 13, 2023

2.653%

July 12, 2025


Note:		(1)		Unsecured credit loans

Table of Contents

8.	Internal Controls

8.1.	Management’s Assessment of the Effectiveness of the Internal Accounting Management System


Period	Date of Report	Assessment	Material Deficiencies	Corrective Action Plans
January 1 to December 31, 2025	—	—	—	—
January 1 to December 31, 2024	March 4, 2025 (Audit Committee) March 4, 2025 (Board of Directors) March 26, 2025 (General Meeting of Shareholders)	In terms of overall materiality, the internal accounting management system is under effective design and operation.	—	—
January 1 to December 31, 2023	March 5, 2024 (Audit Committee) March 5, 2024 (Board of Directors) March 22, 2024 (General Meeting of Shareholders)	In terms of overall materiality, the internal accounting management system is under effective design and operation.	—	—

8.2.	Audit Committee’s Assessment of the Effectiveness of the Internal Accounting Management System


Period	Date of Report	Assessment	Material Deficiencies	Corrective Action Plans
January 1 to December 31, 2025	—	—	—	—
January 1 to December 31, 2024	March 4, 2025	In terms of overall materiality, the internal accounting management system is under effective design and operation.	—	—
January 1 to December 31, 2023	March 5, 2024	In terms of overall materiality, the internal accounting management system is under effective design and operation.	—	—

8.3.	External Auditor’s Audit Opinion (Review Report) on the Effectiveness of the Internal Accounting Management System


Period	Auditor	Audit or Review	Opinion Type	Issues	Company’s Response Actions
January 1 to December 31, 2025	—	—	—	—	—
January 1 to December 31, 2024	Samil PricewaterhouseCoopers	Audit	Unqualified	—	—
January 1 to December 31, 2023	Samil PricewaterhouseCoopers	Audit	Unqualified	—	—

Table of Contents

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: August 14, 2025	By:	/s/ Bong Joong Kwon
	(Signature)
	Name:	Bong Joong Kwon
	Title:	Senior Managing Director and Head of IR Division

EX-99.1 2 d36708dex991.htm EX-99.1 EX-99.1 Table of Contents

Exhibit 99.1

KB Financial Group Inc. and Subsidiaries

Consolidated Interim Financial Statements

June 30, 2025 and 2024

(Unaudited)

Table of Contents

KB Financial Group Inc. and Subsidiaries


	Page(s)
Report on Review of Condensed Consolidated Interim Financial Statements		1-2

Consolidated Interim Financial Statements

Consolidated Interim Statements of Financial Position		3

Consolidated Interim Statements of Comprehensive Income		4-5

Consolidated Interim Statements of Changes in Equity		6

Consolidated Interim Statements of Cash Flows		7-8

Notes to the Consolidated Interim Financial Statements		9-173

Table of Contents

Report on Review of Condensed Consolidated Interim Financial Statements

(English Translation of a Report Originally Issued in Korean)

To the Shareholders and the Board of Directors of

KB Financial Group Inc.

Reviewed Financial Statements

We have reviewed the accompanying condensed consolidated interim financial statements of KB Financial Group Inc. and its subsidiaries (collectively referred to as the “Group”). These condensed consolidated interim financial statements consist of the consolidated interim statement of financial position of the Group as at June 30, 2025, and the related consolidated interim statements of comprehensive income for the three-month and six month periods ended June 30, 2025 and 2024, and consolidated interim statements of changes in equity and cash flows for the six-month periods ended June 30, 2025 and 2024, and material accounting policy information and other selected explanatory notes, expressed in Korean Won.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and presentation of these condensed consolidated interim financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (“Korean IFRS”) No. 1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of condensed consolidated interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on these condensed consolidated interim financial statements based on our review.

We conducted our review in accordance with quarterly or semi-annual review standards established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe the accompanying condensed consolidated interim financial statements are not prepared, in all material respects, in accordance with Korean IFRS No. 1034 Interim Financial Reporting.

Table of Contents

Other Matters

We have audited the consolidated statement of financial position of the Group as at December 31, 2024, and the related consolidated statements of comprehensive income, changes in equity and cash flows for the year then ended, not presented herein, in accordance with Korean Standards on Auditing. We expressed an unqualified opinion on those financial statements in our audit report dated March 5, 2025. The consolidated statement of financial position as at December 31, 2024, presented herein for comparative purposes, is consistent, in all material respects, with the above audited statement of financial position as at December 31, 2024.

Review standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to review such financial statements may differ from those generally accepted and applied in other countries.

/s/ Samil PricewaterhouseCoopers

Seoul, Korea

August 14, 2025

This report is effective as of August 14, 2025, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying condensed consolidated interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that there is a possibility that the above review report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Consolidated Interim Statements of Financial Position

June 30, 2025 and December 31, 2024

(in millions of Korean won)


	Notes		June 30, 2025 (Unaudited)			December 31, 2024
Assets
Cash and due from financial institutions		4,6,7,30		34,118,314			29,869,111
Financial assets at fair value through profit or loss		4,6,11		88,393,886			79,450,093
Derivative financial assets		4,6,8		6,922,873			11,730,767
Loans measured at amortized cost		4,6,9,10		478,247,445			472,071,840
Financial investments		4,6,11		130,061,191			131,009,464
Investments in associates and joint ventures				945,501			947,390
Insurance contract assets		29		347,273			276,191
Reinsurance contract assets		29		1,528,005			1,497,147
Property and equipment				5,179,524			5,390,015
Investment property				3,215,232			3,759,176
Intangible assets				1,817,654			1,966,684
Net defined benefit assets		18		290,125			258,500
Current income tax assets				344,131			339,855
Deferred income tax assets		12,25		167,555			278,824
Assets held for sale				279,873			136,838
Other assets		4,6		28,764,082			18,863,637

Total assets				780,622,664			757,845,532

Liabilities
Financial liabilities at fair value through profit or loss		4,6,13		10,286,282			10,720,231
Derivative financial liabilities		4,6,8		6,332,298			11,783,494
Deposits		4,6,14		442,086,824			435,687,897
Borrowings		4,6,15		69,921,065			68,077,012
Debentures		4,6,16		74,120,211			76,171,257
Insurance contract liabilities		29		58,839,867			55,863,701
Reinsurance contract liabilities		29		63,334			56,266
Provisions		17		919,400			927,632
Net defined benefit liabilities		18		97,076			100,187
Current income tax liabilities				477,380			530,720
Deferred income tax liabilities		12,25		1,750,181			1,682,292
Other liabilities		4,6		54,774,797			36,429,662

Total liabilities				719,668,715			698,030,351

Equity
Share capital				2,090,558			2,090,558
Hybrid securities				5,162,483			5,082,578
Capital surplus				16,645,909			16,646,734
Accumulated other comprehensive income		27		(276,887	)		496,922
Retained earnings				36,688,909			34,808,220
Treasury shares				(1,241,538	)		(1,236,060	)

Equity attributable to shareholders of the Parent Company		19		59,069,434			57,888,952
Non-controlling interests				1,884,515			1,926,229

Total equity				60,953,949			59,815,181

Total liabilities and equity				780,622,664			757,845,532

The above consolidated interim statements of financial position should be read in conjunction with the accompanying notes.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Consolidated Interim Statements of Comprehensive Income

Three-Month and Six-Month Periods Ended June 30, 2025 and 2024

(in millions of Korean won, except per share amounts)


	Notes	2025 (Unaudited)						2024 (Unaudited)
		Three months			Six months			Three months			Six months
Interest income			7,284,633			14,739,574			7,611,315			15,224,888
Interest income from financial instruments at fair value through other comprehensive income and amortized cost			6,922,324			14,005,120			7,243,831			14,472,708
Interest income from financial instruments at fair value through profit or loss			353,152			715,207			359,835			736,588
Insurance finance interest income			9,157			19,247			7,649			15,592
Interest expense			(4,178,107	)		(8,370,883	)		(4,384,962	)		(8,828,650	)
Interest expense			(3,804,895	)		(7,615,529	)		(4,012,831	)		(8,079,357	)
Insurance finance interest expense			(373,212	)		(755,354	)		(372,131	)		(749,293	)

Net interest income	5,20		3,106,526			6,368,691			3,226,353			6,396,238

Fee and commission income			1,446,966			2,777,199			1,330,604			2,726,904
Fee and commission expense			(415,030	)		(811,215	)		(410,969	)		(817,176	)

Net fee and commission income	5,21		1,031,936			1,965,984			919,635			1,909,728

Insurance income			3,036,603			6,144,414			2,844,788			5,577,528
Insurance income			2,900,194			5,735,262			2,744,165			5,438,821
Reinsurance income			136,409			409,152			100,623			138,707
Insurance expense			(2,624,467	)		(5,294,525	)		(2,352,691	)		(4,542,460	)
Insurance service expense			(2,396,702	)		(4,860,901	)		(2,128,285	)		(4,103,868	)
Reinsurance expense			(227,765	)		(433,624	)		(224,406	)		(438,592	)

Net insurance income	5,29		412,136			849,889			492,097			1,035,068

Net gains on financial instruments at fair value through profit or loss	5,22		1,566,145			2,112,363			321,577			570,710

Other insurance finance expenses	5,29		(273,721	)		(413,291	)		(224,347	)		(369,654	)

Net other operating expenses	5,23		(1,305,244	)		(1,791,668	)		(285,858	)		(690,568	)

General and administrative expenses	5,18,24		(1,749,696	)		(3,355,261	)		(1,593,891	)		(3,222,127	)

Operating income before provision for credit losses	5		2,788,082			5,736,707			2,855,566			5,629,395

Provision for credit losses	5,7,9,10,17		(655,111	)		(1,310,708	)		(552,818	)		(981,088	)

Net operating income	5		2,132,971			4,425,999			2,302,748			4,648,307

Share of profit (loss) of investments in associates and joint ventures	5		4,813			10,261			(694	)		(2,113	)
Net other non-operating income (expenses)	5		205,357			213,487			67,677			(878,868	)

Net non-operating income (expenses)			210,170			223,748			66,983			(880,981	)

Profit before income tax expense	5		2,343,141			4,649,747			2,369,731			3,767,326

Income tax expense	5,25		(595,561	)		(1,203,045	)		(658,827	)		(1,000,359	)

Profit for the period	5		1,747,580			3,446,702			1,710,904			2,766,967

(Continued)

Table of Contents

KB Financial Group Inc. and Subsidiaries

Consolidated Interim Statements of Comprehensive Income

Three-Month and Six-Month Periods Ended June 30, 2025 and 2024 (cont’d)

(in millions of Korean won, except per share amounts)


	Notes		2025 (Unaudited)						2024 (Unaudited)
			Three months			Six months			Three months			Six months
Items that will not be reclassified to profit or loss:
Remeasurements of net defined benefit liabilities				6,637			(790	)		2,756			11,751
Share of other comprehensive loss of associates and joint ventures				168,860			213,283			(230,369	)		(242,935	)
Gains (losses) on equity securities at fair value through other comprehensive income				(4,862	)		(10,707	)		(2,040	)		(10,883	)

				170,635			201,786			(229,653	)		(242,067	)

Items that may be reclassified subsequently to profit or loss:
Currency translation differences				(337,087	)		(351,553	)		119,469			282,414
Gains(losses) on debt securities at fair value through other comprehensive income				(568,282	)		342,749			559,490			(97,737	)
Share of other comprehensive income (loss) of associates and joint ventures				(2,452	)		(2,328	)		56			(86	)
Gains (losses) on cash flow hedging instruments		8		(61,776	)		(30,275	)		5,615			(31,182	)
Gains (losses) on hedging instruments of net investments in foreign operations		8		123,470			126,994			(40,016	)		(91,219	)
Insurance finance income(expense)		29		798,927			(1,071,678	)		(1,126,765	)		(1,269,498	)

				(47,200	)		(986,091	)		(482,151	)		(1,207,308	)

Other comprehensive income (loss) for the period, net of tax				123,435			(784,305	)		(711,804	)		(1,449,375	)

Total comprehensive income (loss) for the period				1,871,015			2,662,397			999,100			1,317,592

Profit(loss) attributable to:		5
Shareholders of the Parent Company				1,738,422			3,435,693			1,732,449			2,774,431
Non-controlling interests				9,158			11,009			(21,545	)		(7,464	)

				1,747,580			3,446,702			1,710,904			2,766,967

Total comprehensive income (loss) for the period attributable to:
Shareholders of the Parent Company				1,859,757			2,657,343			1,016,474			1,312,833
Non-controlling interests				11,258			5,054			(17,374	)		4,759

				1,871,015			2,662,397			999,100			1,317,592

Earnings per share (in Korean won)		28
Basic earnings per share				4,603			9,031			4,417			7,023
Diluted earnings per share				4,565			8,950			4,377			6,934

The above consolidated interim statements of comprehensive income should be read in conjunction with the accompanying notes.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Consolidated Interim Statements of Changes in Equity

Six-Month Periods Ended June 30, 2025 and 2024

(in millions of Korean won)


	Equity attributable to shareholders of the Parent Company
	Share capital		Hybrid securities			Capital surplus			Accumulated other comprehensive income			Retained earnings			Treasury shares			Non-controlling interests			Total equity
Balance as of January 1, 2024		2,090,558		5,032,803			16,647,916			2,152,644			31,934,600			(1,165,837	)		1,943,506			58,636,190

Comprehensive income for the period																						—
Profit for the period		—		—			—			—			2,774,431			—			(7,464	)		2,766,967
Remeasurements of net defined benefit liabilities		—		—			—			11,484			—			—			267			11,751
Currency translation differences		—		—			—			269,773			—			—			12,641			282,414
Losses on financial instruments at fair value through other comprehensive income and transfer to retained earnings		—		—			—			(336,495	)		(3,492	)		—			(685	)		(340,672	)
Share of other comprehensive income of associates and joint ventures		—		—			—			(86	)		—			—			—			(86	)
Losses on cash flow hedging instruments		—		—			—			(31,182	)		—			—			—			(31,182	)
Losses on hedging instruments of net investments in foreign operations		—		—			—			(91,219	)		—			—			—			(91,219	)
Insurance finance expenses		—		—			—			(1,269,498	)		—			—			—			(1,269,498	)
Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk		—		—			—			(10,883	)		—			—			—			(10,883	)

Total comprehensive income for the period		—		—			—			(1,458,106	)		2,770,939			—			4,759			1,317,592

Transactions with shareholders
Annual dividends paid to shareholders of the Parent Company		—		—			—			—			(587,006	)		—			—			(587,006	)
Quarterly dividends paid to shareholders of the Parent Company		—		—			—			—			(300,086	)		—			—			(300,086	)
Issuance of hybrid securities		—		399,059			—			—			—			—			756,316			1,155,375
Dividends on hybrid securities		—		—			—			—			(100,530	)		—			(39,591	)		(140,121	)
Redemption of hybrid securities		—		(349,309	)		—			—			—			—			—			(349,309	)
Acquisition of treasury shares		—		—			—			—			—			(320,000	)		—			(320,000	)
Disposal of treasury shares		—		—			3,975			—			—			234,600			—			238,575
Ownership changes in subsidiaries		—		—			—			—			—			—			15,436			15,436
Others		—		—			(5,786	)		—			—			—			(10,662	)		(16,448	)

Total transactions with shareholders		—		49,750			(1,811	)		—			(987,622	)		(85,400	)		721,499			(303,584	)

Balance as of June 30, 2024 (Unaudited)		2,090,558		5,082,553			16,646,105			694,538			33,717,917			(1,251,237	)		2,669,764			59,650,198

Balance as of January 1, 2025		2,090,558		5,082,578			16,646,734			496,922			34,808,220			(1,236,060	)		1,926,229			59,815,181

Comprehensive income for the period
Profit for the period		—		—			—			—			3,435,693			—			11,009			3,446,702
Remeasurements of net defined benefit liabilities		—		—			—			(150	)		—			—			(640	)		(790	)
Currency translation differences		—		—			—			(346,045	)		—			—			(5,508	)		(351,553	)
Gains(losses) on financial instruments at fair value through other comprehensive income and transfer to retained earnings		—		—			—			560,316			(4,541	)		—			257			556,032
Share of other comprehensive income of associates and joint ventures		—		—			—			(2,328	)		—			—			—			(2,328	)
Losses on cash flow hedging instruments		—		—			—			(30,211	)		—			—			(64	)		(30,275	)
Gains on hedging instruments of net investments in foreign operations		—		—			—			126,994			—			—			—			126,994
Insurance finance expenses		—		—			—			(1,071,678	)		—			—			—			(1,071,678	)
Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk		—		—			—			(10,707	)		—			—			—			(10,707	)

Total comprehensive income for the period		—		—			—			(773,809	)		3,431,152			—			5,054			2,662,397

Transactions with shareholders
Annual dividends paid to shareholders of the Parent Company		—		—			—			—			(298,285	)		—			—			(298,285	)
Quarterly dividends paid to shareholders of the Parent Company		—		—			—			—			(334,339	)		—			—			(334,339	)
Issuance of hybrid securities		—		404,014			—			—			—			—			—			404,014
Dividends on hybrid securities		—		—			—			—			(103,317	)		—			(65,236	)		(168,553	)
Redemption of hybrid securities		—		(324,109	)		—			—						—			—			(324,109	)
Acquisition of treasury shares		—		—			—			—						(820,000	)		—			(820,000	)
Retirement of treasury shares		—		—			—			—			(814,522	)		814,522			—			—
Ownership changes in subsidiaries		—		—			—			—						—			688			688
Others		—		—			(825	)		—						—			17,780			16,955

Total transactions with shareholders		—		79,905			(825	)		—			(1,550,463	)		(5,478	)		(46,768	)		(1,523,629	)

Balance as of June 30, 2025 (Unauidted)		2,090,558		5,162,483			16,645,909			(276,887	)		36,688,909			(1,241,538	)		1,884,515			60,953,949

The above consolidated interim statements of changes in equity should be read in conjunction with the accompanying notes.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Consolidated Interim Statements of Cash Flows

Six-Month Periods Ended June 30, 2025 and 2024

(in millions of Korean won)


	Notes	2025 (Unaudited)			2024 (Unaudited)
Cash flows from operating activities
Profit for the period			3,446,702			2,766,967

Adjustment for non-cash items
Net gains on financial assets at fair value through profit or loss			(1,612,942	)		(247,630	)
Net gains (losses) on derivative financial instruments for hedging purposes			(92,938	)		114,438
Provision for credit losses			1,310,708			981,088
Net gains on financial investments			(124,470	)		(33,456	)
Share of profit (losses) of associates and joint ventures			(10,261	)		2,113
Depreciation and amortization expense			447,130			443,731
Other net gains (losses) on property and equipment/intangible assets			(257,488	)		71,432
Share-based payments			81,703			91,671
Post-employment benefits			94,801			90,716
Net interest expense (income)			139,204			(43,579	)
Losses on foreign currency translation			918,459			109,308
Insurance finance income			(5,508,058	)		(5,384,979	)
Reinsurance finance expense			586,672			856,654
Other expenses			507,699			414,331

			(3,519,781	)		(2,534,162	)

Changes in operating assets and liabilities
Financial asset at fair value through profit or loss			(5,180,820	)		375,606
Derivative financial instruments			55,314			(195,153	)
Loans measured at fair value through other comprehensive income			(160,472	)		(172,808	)
Loans measured at amortized cost			(8,909,044	)		(11,027,026	)
Current income tax assets			(4,276	)		(50,771	)
Deferred income tax assets			105,785			3,443
Other assets			(11,828,329	)		(3,271,599	)
Financial liabilities at fair value through profit or loss			(784,957	)		(372,139	)
Deposits			7,858,236			11,682,717
Current income tax liabilities			(53,340	)		175,339
Deferred income tax liabilities			246,169			299,379
Other liabilities			15,202,066			5,383,954
Insurance contract assets			(71,081	)		(65,278	)
Reinsurance contract assets			(624,348	)		(739,387	)
Insurance contract liabilities			7,024,940			6,033,978
Reinsurance contract liabilities			17,569			18,608
Investment contract liabilities			1,002,485			(92,217	)

			3,895,897			7,986,646

Net cash inflow from operating activities			3,822,818			8,219,451

(Continued)

Table of Contents

KB Financial Group Inc. and Subsidiaries

Consolidated Interim Statements of Cash Flows

Six-Month Periods Ended June 30, 2025 and 2024 (cont’d)

(in millions of Korean won)


	Notes		2025 (Unaudited)			2024 (Unaudited)
Cash flows from investing activities
Net cash flows from derivative financial instruments for hedging purposes				(82,266	)		(8,886	)
Disposal of financial asset at fair value through profit or loss				12,621,999			7,490,101
Acquisition of financial asset at fair value through profit or loss				(15,587,303	)		(7,731,942	)
Disposal of financial investments				30,593,942			21,936,610
Acquisition of financial investments				(29,137,256	)		(27,884,738	)
Disposal of investments in associates and joint ventures				176,800			67,338
Acquisition of investments in associates and joint ventures				(168,127	)		(52,759	)
Disposal of property and equipment				53,733			4,784
Acquisition of property and equipment				(197,437	)		(94,677	)
Disposal of investment property				763,052			—
Acquisition of investment property				(183,504	)		—
Disposal of intangible assets				3,137			7,754
Acquisition of intangible assets				(69,779	)		(160,432	)
Net cash flows from changes in ownership of subsidiaries				1,095,858			222,385
Others				(66,104	)		(164,459	)

Net cash outflow from investing activities				(183,255	)		(6,368,921	)

Cash flows from financing activities
Net cash flows from derivative financial instruments for Hedging purposes				(166,979	)		(107,234	)
Net Increase (decrease) in borrowings				3,343,640			(4,168,040	)
Increase in debentures				29,241,802			19,061,430
Decrease in debentures				(30,641,374	)		(16,570,955	)
Increase in other payables to trust accounts				1,998,371			1,660,813
Dividends paid				(632,623	)		(887,092	)
Issuance of hybrid securities				404,014			399,059
Redemption of hybrid securities				(325,000	)		(349,309	)
Dividends paid on hybrid securities				(103,317	)		(100,530	)
Acquisition of treasury shares				(820,000	)		(320,000	)
Redemption of principal elements of lease payments				(311,363	)		(158,994	)
Decrease in non-controlling interests				61,180			730,047
Others				(189,405	)		(101,502	)

Net cash inflow (outflow) from financing activities				1,858,946			(912,307	)

Effect of exchange rate changes on cash and cash equivalents				(238,215	)		315,367

Net increase in cash and cash equivalents				5,260,294			1,253,590
Cash and cash equivalents at the beginning of the period		30		24,608,867			25,826,588

Cash and cash equivalents at the end of the period		30		29,869,161			27,080,178

The above consolidated interim statements of cash flows should be read in conjunction with the accompanying notes.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

1. The Parent Company

KB Financial Group Inc. (the “Parent Company”) was incorporated on September 29, 2008, under the Financial Holding Companies Act of Korea. KB Financial Group Inc. and its subsidiaries (the “Group”) derive substantially all of their revenue and income from providing a broad range of banking and related financial services to consumers and corporations. The Parent Company’s main business purpose is to control subsidiaries that engage in the financial business or subsidiaries closely related to the financial business through the stock ownership. The Parent Company’s headquarter is located at 26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul. In 2011, Kookmin Bank spun off its credit card business segment and established a new separate credit card company, KB Kookmin Card Co., Ltd. and KB Investment & Securities Co., Ltd. merged with KB Futures Co., Ltd. The Group established KB Savings Bank Co., Ltd. in January 2012, acquired Yehansoul Savings Bank Co., Ltd. in September 2013, and KB Savings Bank Co., Ltd. merged with Yehansoul Savings Bank Co., Ltd. in January 2014. In March 2014, the Group acquired Woori Financial Co., Ltd. and changed the name to KB Capital Co., Ltd. Meanwhile, the Group included LIG Insurance Co., Ltd. as an associate and changed the name to KB Insurance Co., Ltd. in June 2015, and KB Insurance Co., Ltd. became one of the subsidiaries through a tender offer in May 2017. Also, the Group included Hyundai Securities Co., Ltd. as an associate in June 2016 and included as a subsidiary in October 2016 by comprehensive exchange of shares. Hyundai Securities Co., Ltd. merged with KB Investment & Securities Co., Ltd. in December 2016 and changed its name to KB Securities Co., Ltd. in January 2017. In August 2020, the Group acquired Prudential Life Insurance Company of Korea Ltd. which was classified as a subsidiary and the name was changed to KB Life Insurance Co., Ltd. in December 2022. Then in January 2023, it merged with another existing KB Life Insurance Co., Ltd. The Parent Company sold 100% shares of KB Credit Information Co., Ltd. to KB Kookmin Card Co., Ltd. on June 30, 2023.

The Parent Company’s share capital as of June 30, 2025, is 2,090,558 million. The Parent Company has been listed on the Korea Exchange (“KRX”) since October 10, 2008, and on the New York Stock Exchange (“NYSE”) for its American Depositary Shares (“ADS”) since September 29, 2008. Number of shares authorized in its Articles of Incorporation is 1,000 million.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

2. Basis of Preparation

2.1 Application of Korean IFRS

The Group maintains its accounting records in Korean won and prepares statutory consolidated financial statements in the Korean language (Hangul) in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (“Korean IFRS”). The accompanying consolidated financial statements have been translated into English from the Korean language consolidated financial statements.

The consolidated financial statements of the Group have been prepared in accordance with Korean IFRS. Korean IFRS are the standards and related interpretations issued by the International Accounting Standards Board (“IASB”) that have been adopted by the Republic of Korea.

The preparation of the consolidated financial statements requires the use of certain critical accounting estimates. Management also needs to exercise judgment in applying the Group’s accounting policies. The areas that require a more complex and higher level of judgment or areas that require significant assumptions and estimations are disclosed in Note 2.4.

The Group’s condensed consolidated interim financial statements for the six-month period ended June 30, 2025, have been prepared in accordance with Korean IFRS No.1034 Interim Financial Reporting and contain less information than is required in annual consolidated financial statements. Selected explanatory notes include descriptions of transactions or events that are significant in understanding change in financial position and financial performance of the Group since the end of the previous annual reporting period. These condensed consolidated interim financial statements have been prepared in accordance with Korean IFRS which is effective or early adopted as of June 30, 2025.

2.1.1 The Group has applied the following new and amended standards for the first time for its annual reporting period commencing January 1, 2025.

- Amendment of Korean IFRS No.1021 “The Effects of Changes in Foreign Exchange Rates” and Korean IFRS No.1101 “First-time Adoption of International Financial Reporting Standards”—Lack of exchangeability

The amendments require the Group to determine a spot exchange rate when exchangeability is lacking, and to disclose information on the nature and financial effects of the currency not being exchangeable into the other currency, the spot exchange rate(s) used, the estimation process, and the risks to which the Group is exposed. These amendments do not have a significant impact on the financial statements.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

2.1.2 The following are the accounting standards that have been established or announced but have not yet been implemented, which the Group has not applied

- Amendment of Korean IFRS No.1109 “Financial Instruments” and No.1107 “Financial Instruments”

The amendments respond to recent questions arising in practice. This amendment will be applied to the financial statements for the accounting year beginning on or after January 1, 2026. These amendments do not have a significant impact on the financial statements.

clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system;

clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion;

add new disclosures for certain instruments with contractual terms that can change cash flows

update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI).

- Korean IFRS Accounting Standards Annual Improvements Volume 11

Korean IFRS Accounting Standards Annual Improvements Volume 11 will be effective for annual reporting periods beginning on or after January 1, 2026. These amendments do not have a significant impact on the financial statements.

•

Korean IFRS No.1101 “First-time adoption of International Financial Reporting Standards”: Hedge accounting by a first-time adopter

•

Korean IFRS No.1107 “Financial Instruments: Disclosures”: Gain or loss on derecognition, Application guidance

•

Korean IFRS No.1109 “Financial Instruments”: Derecognition of lease liabilities, Definition of transaction price

•

Korean IFRS No.1110 “Consolidated Financial Statements”: Determination of a ‘de facto agent’

•

Korean IFRS Bo.1007 “Statement of Cash Flows”: Cost method

2.1.3 Restatement of financial statements for the six-month period ended June 30, 2024 for the application of Insurance Contract accounting policy changes

In applying K-IFRS No. 1117, the Group has developed and applied its own accounting policies for areas where accounting treatment is not clearly defined. In order to provide more reliable and relevant information, the Group has changed some of these policies during the year ended December 31, 2024, and has retrospectively applied them to each prior reporting period presented in accordance with Korean IFRS No. 1008, “Accounting Policies, Changes in Accounting Estimates, and Errors”.

There is no effect on the statement of cash flows due to the change in accounting policy. The effects of applying the changes in accounting policies on the comprehensive income statement for the six-month period ended June 30, 2024, and the financial position as of December 31, 2023, are as follows:

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

2.1.3.1 The condensed consolidated statement of comprehensive income for the six-month period ended June 30, 2024


(In millions of Korean won)	Before the effects of change in accounting policy			After the effects of change in accounting policy			Net increase (decrease)
Interest income		6,357,722			6,396,238			38,516
Insurance finance interest income Insurance finance interest expense		16,237 (788,454	)		15,592 (749,293	)		(645 39,161	)
Net insurance income		1,018,102			1,035,068			16,966
Insurance income		5,568,240			5,577,528			9,288
Insurance income		5,429,533			5,438,821			9,288
Insurance expense		(4,550,138	)		(4,542,460	)		7,678
Insurance service expense		(4,103,681	)		(4,103,868	)		(187	)
Reinsurance expense		(446,457	)		(438,592	)		7,865
Other insurance finance expenses		(304,782	)		(369,654	)		(64,872	)
Net operating income		4,657,697			4,648,307			(9,390	)
Net non-operating expenses		(880,981	)		(880,981	)		—
Profit before income tax expense		3,776,716			3,767,326			(9,390	)
Income tax expense		(1,002,837	)		(1,000,359	)		2,478
Profit for the period		2,773,879			2,766,967			(6,912	)
Other comprehensive income (loss), net of tax		(1,521,003	)		(1,449,375	)		71,628
Net Financial Income (Expense) of Insurance Contract Assets (Liabilities)		(1,341,126	)		(1,269,498	)		71,628
Total comprehensive income for the period		1,252,876			1,317,592			64,716

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

2.1.3.2 The condensed consolidated statements of financial position as of December 31, 2023


(In millions of Korean won)	Before the effects of change in accounting policy		After the effects of change in accounting policy		Net increase (decrease)
Reinsurance contract assets		1,655,168		1,642,432		(12,736	)
Total assets		715,738,152		715,725,416		(12,736	)
Insurance contract liabilities		50,308,552		50,617,990		309,438
Deferred income tax liabilities		2,179,966		2,094,912		(85,054	)
Total liabilities		656,864,842		657,089,226		224,384
Accumulated other comprehensive income (loss)		2,295,165		2,152,644		(142,521	)
Retained earnings		32,029,199		31,934,600		(94,599	)
Total equity		58,873,310		58,636,190		(237,120	)
Total liabilities and equity		715,738,152		715,725,416		(12,736	)

2.2 Measurement Basis

The consolidated financial statements have been prepared based on the historical cost accounting model unless otherwise specified.

2.3 Functional and Presentation Currency

Items included in the financial statements of each entity of the Group are measured using the currency of the primary economic environment in which the entity operates (“functional currency“). The consolidated financial statements are presented in Korean won, which is the Parent Company‘s functional and presentation currency.

2.4 Critical Accounting Estimates

The Group applies accounting policies and uses judgements, accounting estimates and assumptions that may have a significant impact on the assets (liabilities) and incomes (expenses). Management’s estimates of outcomes may differ from actual outcomes if management’s estimates and assumptions based on management’s best judgment at the reporting date are different from the actual environment.

Estimates and underlying assumptions are continually evaluated, and changes in accounting estimates are recognized in the period in which the estimates are changed and in any future periods affected.

Uncertainties in estimates and assumptions with significant risks used in the preparation of these condensed consolidated interim financial statements are the same as those applied to the consolidated financial statements for the year ended December 31, 2024.

3. Material Accounting Policies

The material accounting policies and calculation methods applied in the preparation of these consolidated interim financial statements are the same as those applied to the consolidated financial statements for the year ended December 31, 2024, except for the impact of changes due to adopting new and amended standards and interpretations described in Note 2.1 and below paragraph.

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

3. Material Accounting Policies (cont’d)

The Group is subject to Pillar 2 income taxes, and has applied a temporary exemption provision regarding the recognition and disclosure of deferred taxes related to the Pillar 2 rules.

Income tax expense for the interim period is measured applying the expected average annual income tax rate applicable on expected total annual income

4. Financial Risk Management

4.1 Summary

4.1.1 Overview of financial risk management policy

The financial risks that the Group is exposed to are credit risk, market risk, liquidity risk, operational risk, and others.

This note regarding financial risk management provides information about the risks that the Group is exposed to and about its objectives, policies, risk assessment and management procedures, and capital management. Additional quantitative information is disclosed throughout the consolidated financial statements.

The Group’s risk management system focuses on efficiently supporting long-term strategy and management decisions of the Group by increasing risk transparency, preventing risk transfer between subsidiaries and preemptive response to rapidly changing financial environments. Credit risk, market risk, operational risk, interest rate risk, insurance risk, liquidity risk, credit concentration risk, strategy risk, and reputation risk are recognized as the Group’s significant risks and measured and managed by quantifying them in the form of internal capital or Value at Risk (“VaR”) using statistical methods.

4.1.2 Risk management organization

4.1.2.1 Risk Management Committee

The Risk Management Committee, as the ultimate decision-making body, deals with risk-related issues, such as establishing risk management strategies in accordance with the strategic direction determined by the Board of Directors, determining the affordable level of risk appetite, reviewing the level of risk and the status of risk management activities, approving the application of risk management systems, methodologies, and major improvements, and establishing and approving risk management policies and procedures to timely recognize, measure, monitor, and control risks arising from various transactions by the Group.

4.1.2.2 Risk Management Council

The Risk Management Council is responsible for consulting on matters delegated by the Risk Management Committee and requests for review by the Management Executive Committee, consulting on details of each subsidiary’s risk management policies and procedures, monitoring the Group’s risk management status, and establishing and implementing necessary measures.

4.1.2.3 Risk Management Department

The Risk Management Department performs the Group’s risk management detailed policies, procedures, and business processes, and is responsible for calculating the Group’s risk-weighted assets, monitoring and managing internal capital limits.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2 Credit Risk

4.2.1 Overview of credit risk

Credit risk is the risk of loss from the portfolio of assets held due to the counterparty’s default, breach of contract, and deterioration of credit quality. For risk management purposes, the Group manages all factors of credit risk exposure, such as default risk of individual borrowers, country risk, and risk of specific sectors in an integrated way.

4.2.2 Credit risk management

The Group measures the expected loss and internal capital for the assets subject to credit risk management, including on-balance and off-balance assets, and uses them as management indicators. The Group allocates and manages credit risk internal capital limits.

In addition, to prevent excessive concentration of exposures by borrower and industry, the total exposure limit at the Group level is introduced, applied, and managed to control the credit concentration risk.

All of the Kookmin Bank’s loan customers (individuals and corporates) are assigned a credit rating and managed by a comprehensive internal credit evaluation system. For individuals, the credit rating is evaluated by utilizing personal information, income and job information, asset information, and bank transaction information. For corporates, the credit rating is evaluated by analyzing and utilizing financial and non-financial information which measures current and future corporate value and ability to repay the debt. Also, the extent to which corporates have the ability to meet debt obligations is comprehensively considered.

The credit rating, once assigned, serves as the fundamental instrument in Kookmin Bank’s credit risk management, and is applied in a wide range of credit risk management processes, including credit approval, credit limit management, loan pricing, and assessment of allowances for credit losses. For corporates, Kookmin Bank conducts a regular credit evaluation at least once a year, and the review and supervision departments regularly validate the adequacy of credit ratings to manage credit risks.

KB Kookmin Card Co., Ltd.’s credit scoring system is divided into Application Scoring System (“ASS”) and Behavior Scoring System (“BSS”). For applications that meet the eligibility criteria for card issuance, the card will be issued only if the ASS credit rating is above the standard. KB Kookmin Card Co., Ltd.’s internal information, external information from the credit bureau company and others, and personal information on the application are used to calculate the ASS credit rating. The BSS, which is recalculated on a weekly basis, predicts the delinquency probability of cardholders, and utilizes it to monitor cardholders and portfolio risk.

In order to establish a credit risk management system, the Group manages credit risk by forming a separate risk management organization. In particular, independently of the Sales Group, the Credit Management & Analysis Group of Kookmin Bank, a subsidiary, is in charge of loan policy, loan system, credit rating, credit analysis, follow-up management, and corporate restructuring. The Risk Management Group of Kookmin Bank is responsible for establishing policies on credit risk management, measuring and limiting internal capital of credit risk, setting credit limits, credit review, and verification of credit rating models.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.3 Maximum exposure to credit risk

The Group’s maximum exposures to credit risk without consideration of collateral values in relation to financial instruments other than equity securities as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Financial assets
Due from financial institutions measured at amortized cost *		31,938,648		27,790,121
Financial assets at fair value through profit or loss:
Due from financial institutions measured at fair value through profit or loss		290,082		218,357
Securities measured at fair value through profit or loss		81,925,368		73,768,636
Loans measured at fair value through profit or loss		1,019,105		1,187,763
Derivatives		6,922,873		11,730,767
Loans measured at amortized cost *		478,247,445		472,071,840
Financial investments:
Securities measured at fair value through other comprehensive income		90,738,977		88,735,996
Securities measured at amortized cost *		33,362,347		37,113,552
Loans measured at fair value through other comprehensive income		1,607,017		1,446,628
Other financial assets *		24,217,542		14,404,227

		750,269,404		728,467,887

Off-balance sheet items
Acceptances and guarantees contracts		15,182,595		16,250,243
Financial guarantee contracts		6,693,068		6,674,740
Commitments		212,325,305		212,695,995

		234,200,968		235,620,978

		984,470,372		964,088,865

*	After netting of allowance

4.2.4 Credit risk of loans

The Group maintains allowances for loan losses associated with credit risk of loans to manage its credit risk.

The Group assesses expected credit losses and recognizes loss allowances of financial assets at amortized cost and financial assets at fair value through other comprehensive income. Financial assets at fair value through profit or loss are excluded. Expected credit losses are a probability-weighted estimate of possible credit losses occurring in a certain range by reflecting reasonable and supportable information that is reasonably available at the end of the reporting period without undue cost or effort, including information about past events, current conditions, and forecasts of future economic conditions. The Group measures the expected credit losses of loans classified as financial assets at amortized cost, by deducting allowances for credit losses. The expected credit losses of loans classified as financial assets at fair value through other comprehensive income are presented in other comprehensive income in the consolidated financial statements.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.4.1 Credit risk exposure

Credit qualities of loans as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)


	June 30, 2025
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
	12-month expected credit losses		Not impaired		Impaired		Not applying expected credit losses		Total
Loans measured at amortized cost *
Corporate
Grade 1		141,702,098		11,767,626		10,576		—		153,480,300
Grade 2		74,027,774		12,716,621		6,486		—		86,750,881
Grade 3		3,428,142		5,581,498		79,383		—		9,089,023
Grade 4		677,119		1,763,988		25,556		—		2,466,663
Grade 5		160,154		671,429		3,068,749		—		3,900,332

		219,995,287		32,501,162		3,190,750		—		255,687,199

Retail
Grade 1		179,608,273		4,906,663		6,685		—		184,521,621
Grade 2		7,878,927		4,117,590		39,043		—		12,035,560
Grade 3		4,280,850		1,567,676		23,626		—		5,872,152
Grade 4		329,163		405,067		42,730		—		776,960
Grade 5		115,986		891,487		1,258,156		—		2,265,629

		192,213,199		11,888,483		1,370,240		—		205,471,922

Credit card
Grade 1		11,403,695		198,412		—		—		11,602,107
Grade 2		5,277,584		584,090		—		—		5,861,674
Grade 3		2,438,623		1,642,567		—		—		4,081,190
Grade 4		10,663		456,235		—		—		466,898
Grade 5		1,886		321,678		438,779		—		762,343

		19,132,451		3,202,982		438,779		—		22,774,212

		431,340,937		47,592,627		4,999,769		—		483,933,333

Loans measured at fair value through other comprehensive income
Corporate
Grade 1		1,566,267		—		—		—		1,566,267
Grade 2		40,750		—		—		—		40,750
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—

		1,607,017		—		—		—		1,607,017

		1,607,017		—		—		—		1,607,017

		432,947,954		47,592,627		4,999,769		—		485,540,350

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.4.1 Credit risk exposure (cont’d)

(In millions of Korean won)


	December 31, 2024
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
	12-month expected credit losses		Not impaired		Impaired		Not applying expected credit losses		Total
Loans measured at amortized cost *
Corporate
Grade 1		145,582,892		7,629,290		2,896		—		153,215,078
Grade 2		74,005,609		11,446,162		12,845		—		85,464,616
Grade 3		3,757,237		5,195,235		14,777		—		8,967,249
Grade 4		861,581		1,091,261		28,368		—		1,981,210
Grade 5		18,395		691,118		3,066,032		—		3,775,545

		224,225,714		26,053,066		3,124,918		—		253,403,698

Retail
Grade 1		175,229,905		4,814,560		6,804		—		180,051,269
Grade 2		8,048,905		4,071,783		39,224		—		12,159,912
Grade 3		4,213,155		1,546,848		33,207		—		5,793,210
Grade 4		315,926		368,863		34,997		—		719,786
Grade 5		49,595		867,276		1,182,000		—		2,098,871

		187,857,486		11,669,330		1,296,232		—		200,823,048

Credit card
Grade 1		11,554,106		195,328		—		—		11,749,434
Grade 2		5,528,025		584,962		—		—		6,112,987
Grade 3		2,575,397		1,640,995		—		—		4,216,392
Grade 4		12,202		476,827		—		—		489,029
Grade 5		1,068		320,083		589,481		—		910,632

		19,670,798		3,218,195		589,481		—		23,478,474

		431,753,998		40,940,591		5,010,631		—		477,705,220

Loans measured at fair value through other comprehensive income
Corporate
Grade 1		1,402,334		—		—		—		1,402,334
Grade 2		44,294		—		—		—		44,294
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—

		1,446,628		—		—		—		1,446,628

		1,446,628		—		—		—		1,446,628

		433,200,626		40,940,591		5,010,631		—		479,151,848

*	Before netting of allowance

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.4.1 Credit risk exposure (cont’d)

Credit qualities of loans graded according to internal credit ratings as of June 30, 2025 and December 31, 2024, are as follows:


	Range of probability of default (%)	Retail	Corporate
Grade 1	0.0 ~ 1.0	1 ~ 5 grade	AAA ~ BBB+
Grade 2	1.0 ~ 5.0	6 ~ 8 grade	BBB ~ BB
Grade 3	5.0 ~ 15.0	9 ~ 10 grade	BB- ~ B
Grade 4	15.0 ~ 30.0	11 grade	B- ~ CCC
Grade 5	30.0 ~	12 grade or under	CC or under

4.2.4.2 Quantification of the extent to which collateral and other credit enhancements mitigate credit risk of loans as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	12-month expected credit losses		Lifetime expected credit losses				Total
	12-month expected credit losses		Not impaired		Impaired		Total
Guarantees		117,811,870		13,954,854		470,582		132,237,306
Deposits and savings		2,770,854		136,164		8,859		2,915,877
Property and equipment		14,187,075		1,015,365		241,751		15,444,191
Real estate		218,210,504		22,502,911		2,169,702		242,883,117

		352,980,303		37,609,294		2,890,894		393,480,491


(In millions of Korean won)	December 31, 2024
	12-month expected credit losses		Lifetime expected credit losses				Total
	12-month expected credit losses		Not impaired		Impaired		Total
Guarantees		120,868,541		8,349,217		498,290		129,716,048
Deposits and savings		2,792,768		127,130		11,704		2,931,602
Property and equipment		15,498,262		1,071,833		227,196		16,797,291
Real estate		214,770,163		21,195,798		2,167,580		238,133,541

		353,929,734		30,743,978		2,904,770		387,578,482

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.5 Credit risk of securities

Credit qualities of securities exposed to credit risk other than equity securities among financial investments as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)


	June 30, 2025
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
	12-month expected credit losses		Not impaired		Impaired		Not applying expected credit losses		Total
Securities measured at amortized cost *
Grade 1		30,134,228		—		—		—		30,134,228
Grade 2		3,236,856		—		—		—		3,236,856
Grade 3		6,785		—		—		—		6,785
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—

		33,377,869		—		—		—		33,377,869

Securities measured at fair value through other comprehensive income
Grade 1		84,728,241		—		—		—		84,728,241
Grade 2		6,006,766		—		—		—		6,006,766
Grade 3		3,970		—		—		—		3,970
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—

		90,738,977		—		—		—		90,738,977

		124,116,846		—		—		—		124,116,846

(In millions of Korean won)


	December 31, 2024
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
	12-month expected credit losses		Not impaired		Impaired		Not applying expected credit losses		Total
Securities measured at amortized cost *
Grade 1		33,733,935		—		—		—		33,733,935
Grade 2		3,396,100		—		—		—		3,396,100
Grade 3		913		—		—		—		913
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—

		37,130,948		—		—		—		37,130,948

Securities measured at fair value through other comprehensive income
Grade 1		81,797,910		—		—		—		81,797,910
Grade 2		6,933,807		—		—		—		6,933,807
Grade 3		4,279		—		—		—		4,279
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—

		88,735,996		—		—		—		88,735,996

		125,866,944		—		—		—		125,866,944

*	Before netting of allowance

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.5 Credit risk of securities (cont’d)

Credit qualities of securities other than equity securities, according to the credit ratings by external credit rating agencies as of June 30, 2025 and December 31, 2024 are as follows:

Credit

quality

Domestic

Foreign

KIS

NICE P&I

KAP

FnPricing Inc.

S&P

Fitch-IBCA

Moody’s

Grade 1

AA0 to AAA

A- to AAA

A3 to Aaa

Grade 2

A- to AA-

BBB- to BBB+

Baa3 to Baa1

Grade 3

BBB0 to BBB+

BB to BB+

Ba2 to Ba1

Grade 4

BB0 to BBB-

B+ to BB-

B1 to Ba3

Grade 5

BB- or under

B or under

B2 or under

Credit qualities of debt securities denominated in Korean won are based on the lowest credit rating by the domestic credit rating agencies above, and those denominated in foreign currencies are based on the lowest credit rating by the foreign credit rating agencies above.

4.2.6 Credit risk of due from financial institutions

Credit qualities of due from financial institutions as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)


	June 30, 2025
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
	12-month expected credit losses		Not impaired		Impaired		Not applying expected credit losses		Total
Due from financial institutions measured at amortized cost *
Grade 1		30,258,220		—		—		—		30,258,220
Grade 2		718,757		—		—		—		718,757
Grade 3		65,015		—		—		—		65,015
Grade 4		26		—		—		—		26
Grade 5		898,118		—		—		—		898,118

		31,940,136		—		—		—		31,940,136

(In millions of Korean won)


	December 31, 2024
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
	12-month expected credit losses		Not impaired		Impaired		Not applying expected credit losses		Total
Due from financial institutions measured at amortized cost *
Grade 1		26,483,963		—		—		—		26,483,963
Grade 2		583,640		—		—		—		583,640
Grade 3		62,223		—		—		—		62,223
Grade 4		18		—		—		—		18
Grade 5		661,849		—		—		—		661,849

		27,791,693		—		—		—		27,791,693

*	Before netting of allowance

The classification criteria of the credit qualities of due from financial institutions as of June 30, 2025 and December 31, 2024, are the same as the criteria for securities other than equity securities.

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.7 Credit risk concentration analysis

4.2.7.1 Classifications of corporate loans by industry as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)


	June 30, 2025
	Loans		%		Allowances			Carrying amount
Financial institutions		29,791,231		11.53		(301,350	)		29,489,881
Manufacturing		55,921,960		21.65		(628,593	)		55,293,367
Service		116,844,165		45.24		(1,180,208	)		115,663,957
Wholesale and retail		31,334,852		12.13		(541,569	)		30,793,283
Construction		6,393,392		2.48		(259,998	)		6,133,394
Public sector		2,703,819		1.04		(64,260	)		2,639,559
Others		15,323,902		5.93		(288,190	)		15,035,712

		258,313,321		100.00		(3,264,168	)		255,049,153

(In millions of Korean won)


	December 31, 2024
	Loans		%		Allowances			Carrying amount
Financial institutions		29,395,390		11.48		(258,612	)		29,136,778
Manufacturing		55,635,406		21.73		(602,712	)		55,032,694
Service		113,938,671		44.50		(1,132,799	)		112,805,872
Wholesale and retail		31,112,210		12.15		(552,209	)		30,560,001
Construction		6,782,310		2.65		(279,959	)		6,502,351
Public sector		2,460,655		0.96		(66,475	)		2,394,180
Others		16,713,448		6.53		(276,057	)		16,437,391

		256,038,090		100.00		(3,168,823	)		252,869,267

4.2.7.2 Classifications of retail loans and credit card receivables as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)


	June 30, 2025
	Loans		%		Allowances			Carrying amount
Housing loan		108,728,143		47.63		(291,306	)		108,436,837
General loan		96,743,779		42.39		(1,311,730	)		95,432,049
Credit card		22,774,212		9.98		(818,684	)		21,955,528

		228,246,134		100.00		(2,421,720	)		225,824,414

(In millions of Korean won)


	December 31, 2024
	Loans		%		Allowances			Carrying amount
Housing loan		104,273,035		46.49		(283,861	)		103,989,174
General loan		96,550,013		43.04		(1,303,956	)		95,246,057
Credit card		23,478,474		10.47		(876,740	)		22,601,734

		224,301,522		100.00		(2,464,557	)		221,836,965

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.7.3 Classifications of due from financial institutions, securities other than equity securities, and derivative financial assets by industry as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Amount		%		Allowances			Carrying amount
Due from financial institutions measured at amortized cost
Finance and insurance		31,940,136		100.00		(1,488	)		31,938,648

		31,940,136		100.00		(1,488	)		31,938,648

Due from financial institutions measured at fair value through profit or loss
Finance and insurance		290,082		100.00		—			290,082

		290,082		100.00		—			290,082

Securities measured at fair value through profit or loss
Government and government funded institutions		27,532,518		33.61		—			27,532,518
Finance and insurance		40,442,118		49.36		—			40,442,118
Others		13,950,732		17.03		—			13,950,732

		81,925,368		100.00		—			81,925,368

Derivative financial assets
Government and government funded institutions		13,762		0.20		—			13,762
Finance and insurance		6,430,650		92.89		—			6,430,650
Others		478,461		6.91		—			478,461

		6,922,873		100.00		—			6,922,873

Securities measured at fair value through other comprehensive income
Government and government funded institutions		53,048,852		58.46		—			53,048,852
Finance and insurance		25,697,465		28.32		—			25,697,465
Others		11,992,660		13.22		—			11,992,660

		90,738,977		100.00		—			90,738,977

Securities measured at amortized cost
Government and government funded institutions		14,656,315		43.91		(866	)		14,655,449
Finance and insurance		18,412,383		55.16		(14,244	)		18,398,139
Others		309,171		0.93		(412	)		308,759

		33,377,869		100.00		(15,522	)		33,362,347

		245,195,305				(17,010	)		245,178,295

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024


(In millions of Korean won)	December 31, 2024
	Amount		%		Allowances			Carrying amount
Due from financial institutions measured at amortized cost
Finance and insurance		27,791,693		100.00		(1,572	)		27,790,121

		27,791,693		100.00		(1,572	)		27,790,121

Due from financial institutions measured at fair value through profit or loss
Finance and insurance		218,357		100.00		—			218,357

		218,357		100.00		—			218,357

Securities measured at fair value through profit or loss
Government and government funded institutions		25,543,224		34.63		—			25,543,224
Finance and insurance		35,810,087		48.54		—			35,810,087
Others		12,415,325		16.83		—			12,415,325

		73,768,636		100.00		—			73,768,636

Derivative financial assets
Government and government funded institutions		51,376		0.44		—			51,376
Finance and insurance		10,398,642		88.64		—			10,398,642
Others		1,280,749		10.92		—			1,280,749

		11,730,767		100.00		—			11,730,767

Securities measured at fair value through other comprehensive income
Government and government funded institutions		49,417,230		55.69		—			49,417,230
Finance and insurance		27,374,090		30.85		—			27,374,090
Others		11,944,676		13.46		—			11,944,676

		88,735,996		100.00		—			88,735,996

Securities measured at amortized cost
Government and government funded institutions		15,499,014		41.75		(787	)		15,498,227
Finance and insurance		21,411,994		57.66		(16,228	)		21,395,766
Others		219,940		0.59		(381	)		219,559

		37,130,948		100.00		(17,396	)		37,113,552

		239,376,397				(18,968	)		239,357,429

Due from financial institutions, financial instruments at fair value through profit or loss linked to gold price, and derivative financial instruments are mostly related to the finance and insurance industry with high credit ratings.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.3 Liquidity Risk

4.3.1 Overview of liquidity risk

Liquidity risk is a risk that the Group becomes insolvent due to the mismatch between the inflow and outflow of funds, unexpected cash outflows, or a risk of loss due to financing funds at a high interest rate or disposing of securities at an unfavorable price due to lack of available funds. The Group manages its liquidity risk through analysis of the contractual maturity of interest-bearing assets and liabilities, assets and liabilities related to the other inflows and outflows of funds, and off-balance sheet items related to the inflows and outflows of funds such as currency derivative instruments and others.

4.3.2 Liquidity risk management and indicator

The liquidity risk is managed by risk management policies and liquidity risk management guidelines set forth in these policies that apply to all risk management policies and procedures that may arise throughout the overall business of the Group.

The Group calculates and manages liquidity ratio and others for all transactions and off-balance transactions related to liquidity, that affect the cash flows in Korean won and foreign currency funds raised and operated for the management of liquidity risks and periodically reports them to the Risk Management Committee.

4.3.3 Analysis of remaining contractual maturity of financial liabilities

The cash flows disclosed in the maturity analysis are undiscounted contractual amounts including principal and future interest payments; as such, amounts in the table below do not match with those in the consolidated statements of financial position which are based on discounted cash flows. The future interest payments for floating-rate liabilities are calculated on the assumption that the current interest rate is the same until maturity.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.3.3.1 Remaining contractual maturity of financial liabilities other than derivatives held for cash flow hedge, and off-balance sheet items as of June 30, 2025 and December 31 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	On demand		Up to 1 month		1-3 months		3-12 months		1-5 years		Over 5 years			Total
Financial liabilities
Financial liabilities at fair value through profit or loss 1		2,636,337		—		—		—		—		—			2,636,337
Financial liabilities designated at fair value through profit or loss 1		7,649,945		—		—		—		—		—			7,649,945
Derivatives held for trading 1		6,175,175		—		—		—		—		—			6,175,175
Derivatives held for hedging 2		28,189		3,915		5,547		26,630		41,239		(1,477	)		104,043
Deposits 3		187,118,703		38,761,056		51,588,406		142,752,190		29,220,189		1,339,685			450,780,229
Borrowings		11,262,461		20,916,794		8,893,122		18,730,499		10,147,844		1,187,916			71,138,636
Debentures		1,079		4,883,520		6,246,554		21,591,190		42,609,876		3,551,784			78,884,003
Lease liabilities		554		30,586		58,211		239,911		636,361		73,981			1,039,604
Other financial liabilities		113,430		39,463,489		133,266		302,608		1,173,476		129,293			41,315,562

		214,985,873		104,059,360		66,925,106		183,643,028		83,828,985		6,281,182			659,723,534

Off-balance sheet items
Commitments 4		212,325,305		—		—		—		—		—			212,325,305
Acceptances and guarantees contracts		15,182,595		—		—		—		—		—			15,182,595
Financial guarantee contracts 5		6,693,068		—		—		—		—		—			6,693,068

		234,200,968		—		—		—		—		—			234,200,968

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.3.3.1 Remaining contractual maturity of financial liabilities other than derivatives held for cash flow hedge, and off-balance sheet items as of June 30, 2025 and December 31 2024, are as follows: (cont’d)


(In millions of Korean won)	December 31, 2024
	On demand		Up to 1 month		1-3 months		3-12 months		1-5 years		Over 5 years			Total
Financial liabilities
Financial liabilities at fair value through profit or loss 1		2,717,732		—		—		—		—		—			2,717,732
Financial liabilities designated at fair value through profit or loss 1		8,002,499		—		—		—		—		—			8,002,499
Derivatives held for trading 1		11,409,695		—		—		—		—		—			11,409,695
Derivatives held for hedging 2		—		7,538		12,221		85,101		64,760		(3,206	)		166,414
Deposits 3		181,232,114		41,663,882		57,643,486		137,677,588		24,822,029		1,437,036			444,476,135
Borrowings		10,613,810		17,508,577		7,562,405		22,180,471		10,360,622		1,263,467			69,489,352
Debentures		1,113		4,138,143		6,683,638		21,458,905		42,772,744		5,955,515			81,010,058
Lease liabilities		196		30,683		56,903		227,390		606,547		122,502			1,044,221
Other financial liabilities		108,979		22,138,250		147,660		331,842		1,174,845		171,549			24,073,125

		214,086,138		85,487,073		72,106,313		181,961,297		79,801,547		8,946,863			642,389,231

Off-balance sheet items
Commitments 4		212,695,995		—		—		—		—		—			212,695,995
Acceptances and guarantees contracts		16,250,243		—		—		—		—		—			16,250,243
Financial guarantee contracts 5		6,674,740		—		—		—		—		—			6,674,740

		235,620,978		—		—		—		—		—			235,620,978

Financial liabilities measured or designated at fair value through profit or loss and derivatives held for trading are not managed by contractual maturity because they are expected to be traded or redeemed before maturity. Therefore, the carrying amounts of those financial instruments are included in the ‘On demand’ category.

2	Cash flows of derivatives held for hedging are shown at net amount of cash inflows and outflows by remaining contractual maturity.

3	Deposits that are contractually repayable on demand or on short notice are included in the ‘On demand’ category.

4	Commitments are included in the ‘On demand’ category because payments can be requested at any time.

5	Cash flows under financial guarantee contracts are classified based on the earliest period that the contract can be executed.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.4 Market Risk

4.4.1 Concept

Market risk refers to risks that can result in losses due to changes in market factors such as interest rate, stock price, and foreign exchange rate, etc., which arise from securities, derivatives, and others. The most significant risks associated with trading positions are interest rate risk, currency risk, and additional risks include stock price risk. The non-trading position is also exposed to interest rate risk. The Group manages the market risks by dividing them into those arising from the trading position and those arising from the non-trading position.

4.4.2 Risk management

The Group sets and monitors internal capital limits for market risk and interest rate risk to manage the risks of trading and non-trading positions. In order to manage market risk efficiently, the Group maintains risk management systems and procedures such as trading policies and procedures, market risk management guidelines for trading positions, and interest rate risk management guidelines for non-trading positions. The entire process is carried out through consultation with the Risk Management Council and approval by the Risk Management Committee of the Group. However, insurance companies that are engaged in the insurance business are not subject to these guidelines and are monitored by setting internal capital limits for market risk and interest rate risk based on K-ICS.

In the case of Kookmin Bank, a major subsidiary, the Risk Management Council establishes and enforces overall market risk management policies for market risk management and decides to establish position limits, loss limits, VaR limits, and approves non-standard new products. In addition, the Market Risk Management Subcommittee, chaired by Chief Risk Officer (“CRO”), is a practical decision-making body for market risk management and determines position limits, loss limits, VaR limits, sensitivity limits, and scenario loss limits for each department of the business group.

Kookmin Bank’s Asset-Liability Management Committee (“ALCO”) determines interest rate and commission operating standards and Asset Liability Management (“ALM”) operation policies and enacts and revises relevant guidelines. The Risk Management Committee and the Risk Management Council monitor the establishment and enforcement of ALM risk management policies and enact and revise ALM risk management guidelines. Interest rate risk limits are set based on future asset and liability positions and expected interest rate volatility, which reflect annual business plans. The Financial Planning Department and the Risk Management Department regularly measure and monitor interest rate risk and report the status and limit of interest rate risk including changes in Economic Value of Equity (“ΔEVE”), changes in Net Interest Income (“ΔNII”), and duration gap to the ALCO and the Risk Management Council on a monthly basis, and to the Risk Management Committee on a quarterly basis. To ensure the adequacy of interest rate risk and liquidity risk management, the Risk Management Department assigns the limits, monitors and reviews the procedures and tasks of ALM operations conducted by the ALM department, and reports related matters to the management independently.

Kookmin Bank is closely monitoring the outputs of various industry groups and markets that manage the transition to the new interest rate benchmark, including announcements by regulation authority and various consultative bodies related to the transition to alternative interest rate. In response to these announcements, Kookmin Bank has completed most of the transition and replacement plans according to LIBOR transition programs and plans consisting of major business areas such as finance, accounting, tax, legal, IT, and risk. The program is under the control of the CFO and related matters are reported to the Board of Directors and consultative bodies with senior management as members. Kookmin Bank continues its efforts as a market participant to actively express opinions so that the index interest rate benchmark reform can be carried out in the direction of minimizing the financial and non-financial impacts and operational risks and minimizing confusion among stakeholders.

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.5 Operational Risk

4.5.1 Concept

Operational risk of the Group refers to the risk of loss that may occur due to improper or incorrect internal procedures, personnel, systems or external events. Operational risk management plays a role in enhancing the stability and soundness of financial institutions by managing the appropriate level of capital and supplementing the internal control system.

4.5.2 Risk management

The purpose of operational risk management is not only to comply with supervisory and regulatory requirements, but also to spread risk management culture, strengthen internal control, improve processes, and provide timely feedback to management and all employees. The Parent Company manages the Group’s overall operational risk, and each subsidiary establishes and implements operational risk management policies according to its own risk level and implements and operates related systems. The Group Risk Management Committee establishes and allocates risk capital of operational risk for each subsidiary, and subsidiaries manage operational risks at an appropriate level within the allocated risk capital.

5. Segment Information

5.1 Overall Segment Information and Business Segments

The Group classifies reporting segments based on the nature of the products and services provided, the type of customer, and the Group’s management organization.


Banking business	Corporate banking	Loans, deposit products, and other related financial services to large, small and medium-sized enterprises and SOHOs

	Retail banking	Loans, deposit products, and other related financial services to individuals and households

	Other banking services	Trading activities in securities and derivatives, funding, and other supporting activities

Securities business		Investment banking, brokerage services, and other supporting activities

Non-life insurance business		Non-life insurance and other supporting activities

Credit card business		Credit sale, cash advance, card loan, and other supporting activities

Life insurance business		Life insurance and other supporting activities

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.1 Overall Segment Information and Business Segments (cont’d)

Financial information by business segments for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)
	2025
	Banking business												Securities			Non-life insurance			Credit card			Life insurance			Others			Consolidation adjustments			Total
	Corporate banking			Retail banking			Other banking services			Sub-total			Securities			Non-life insurance			Credit card			Life insurance			Others			Consolidation adjustments			Total
Net operating revenues (expenses) from external customers		2,348,693			1,952,609			1,495,731			5,797,033			1,056,129			685,033			1,007,830			195,742			350,201			—			9,091,968
Intersegment net operating revenues (expenses)		75,071			—			(127,556	)		(52,485	)		1,997			142,160			(56,780	)		32,924			365,564			(433,380	)		—

		2,423,764			1,952,609			1,368,175			5,744,548			1,058,126			827,193			951,050			228,666			715,765			(433,380	)		9,091,968

Net interest income (expenses)		2,917,852			1,748,931			537,545			5,204,328			324,377			(16,671	)		823,059			(54,003	)		295,860			(208,259	)		6,368,691
Interest income		5,682,047			3,780,657			1,617,398			11,080,102			886,098			488,355			1,218,722			340,593			770,001			(44,297	)		14,739,574
Interest expense		(2,764,195	)		(2,031,726	)		(1,079,853	)		(5,875,774	)		(561,721	)		(505,026	)		(395,663	)		(394,596	)		(474,141	)		(163,962	)		(8,370,883	)
Net fee and commission income (expenses)		225,125			161,294			185,673			572,092			410,418			(20,321	)		343,915			5,174			683,335			(28,629	)		1,965,984
Fee and commission income		321,168			230,094			242,730			793,992			531,950			2,789			860,879			9,887			756,761			(179,059	)		2,777,199
Fee and commission expense		(96,043	)		(68,800	)		(57,057	)		(221,900	)		(121,532	)		(23,110	)		(516,964	)		(4,713	)		(73,426	)		150,430			(811,215	)
Net insurance income		—			—			—			—			—			561,428			3,557			246,454			—			38,450			849,889
Insurance income		—			—			—			—			—			5,655,497			7,004			504,814			—			(22,901	)		6,144,414
Insurance expense		—			—			—			—			—			(5,094,069	)		(3,447	)		(258,360	)		—			61,351			(5,294,525	)
Net gains (losses) on financial instruments at fair value through profit or loss		(28,795	)		—			602,837			574,042			307,683			264,836			830			564,997			388,006			11,969			2,112,363
Net other insurance finance income (expenses)		—			—			—			—			—			5,212			—			(418,502	)		—			(1	)		(413,291	)
Net other operating income (expenses)		(690,418	)		42,384			42,120			(605,914	)		15,648			32,709			(220,311	)		(115,454	)		(651,436	)		(246,910	)		(1,791,668	)

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.1 Overall Segment Information and Business Segments (cont’d)


(In millions of Korean won)
	2025
	Banking business												Securities			Non-life insurance			Credit card			Life insurance			Others			Consolidation adjustments			Total
	Corporate banking			Retail banking			Other banking services			Sub-total			Securities			Non-life insurance			Credit card			Life insurance			Others			Consolidation adjustments			Total
General and administrative expenses		(911,607	)		(881,637	)		(385,370	)		(2,178,614	)		(537,210	)		(73,913	)		(291,431	)		(79,642	)		(252,977	)		58,526			(3,355,261	)
Operating income (expenses) before provision for credit losses		1,512,157			1,070,972			982,805			3,565,934			520,916			753,280			659,619			149,024			462,788			(374,854	)		5,736,707
Reversal (provision) of credit losses		(497,430	)		(117,084	)		(6,086	)		(620,600	)		(81,982	)		1,265			(418,857	)		(1,109	)		(180,462	)		(8,963	)		(1,310,708	)
Net operating income (expenses)		1,014,727			953,888			976,719			2,945,334			438,934			754,545			240,762			147,915			282,326			(383,817	)		4,425,999
Share of profit (loss) of associates and joint ventures		—			—			4,795			4,795			(7,957	)		1,164			601			(334	)		3,541			8,451			10,261
Net other non-operating income (expenses)		(2,619	)		—			(36,262	)		(38,881	)		25,831			1,615			(2,813	)		3,580			236,393			(12,238	)		213,487
Segment profit (loss) before income tax expense		1,012,108			953,888			945,252			2,911,248			456,808			757,324			238,550			151,161			522,260			(387,604	)		4,649,747
Income tax benefit (expense)		(265,990	)		(228,906	)		(246,512	)		(741,408	)		(117,179	)		(198,873	)		(56,790	)		(34,684	)		(63,081	)		8,970			(1,203,045	)

Profit (loss) for the period		746,118			724,982			698,740			2,169,840			339,629			558,451			181,760			116,477			459,179			(378,634	)		3,446,702

Profit (loss) attributable to shareholders of the Parent Company		737,223			724,982			725,400			2,187,605			338,865			558,141			181,269			116,477			458,335			(404,999	)		3,435,693
Profit (loss) attributable to non-controlling interests		8,895			—			(26,660	)		(17,765	)		764			310			491			—			844			26,365			11,009
Total assets *		239,934,262			180,079,215			154,593,636			574,607,113			71,121,901			42,708,754			29,363,141			35,770,127			66,959,236			(39,907,608	)		780,622,664
Total liabilities *		214,176,955			214,463,039			107,414,418			536,054,412			64,225,870			37,204,486			23,912,165			32,946,848			27,425,487			(2,100,553	)		719,668,715

*	Assets and liabilities of the reporting segments are amounts before intersegment transactions.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.1 Overall Segment Information and Business Segments (cont’d)


(In millions of Korean won)
	2024
	Banking business
	Corporate banking			Retail banking			Other banking services			Sub-total			Securities			Non-life insurance			Credit card			Life insurance			Others			Consolidation adjustments			Total
Net operating revenues (expenses) from external customers		2,666,526			2,081,554			203,438			4,951,518			994,310			972,720			1,059,224			261,446			612,304			—			8,851,522
Intersegment net operating revenues (expenses)		82,528			—			319,206			401,734			(14,997	)		(111,677	)		(29,920	)		(3,762	)		172,151			(413,529	)		—

		2,749,054			2,081,554			522,644			5,353,252			979,313			861,043			1,029,304			257,684			784,455			(413,529	)		8,851,522

Net interest income (expenses)		2,895,623			1,642,484			594,706			5,132,813			302,553			(38,649	)		815,515			(76,588	)		371,106			(110,512	)		6,396,238
Interest income		6,064,559			3,883,822			1,687,619			11,636,000			885,928			438,815			1,209,524			313,610			796,349			(55,338	)		15,224,888
Interest expense		(3,168,936	)		(2,241,338	)		(1,092,913	)		(6,503,187	)		(583,375	)		(477,464	)		(394,009	)		(390,198	)		(425,243	)		(55,174	)		(8,828,650	)
Net fee and commission income (expenses)		214,861			125,423			221,060			561,344			376,643			(17,320	)		385,539			3,627			623,067			(23,172	)		1,909,728
Fee and commission income		303,182			195,984			276,742			775,908			495,750			4,375			904,174			7,933			696,256			(157,492	)		2,726,904
Fee and commission expense		(88,321	)		(70,561	)		(55,682	)		(214,564	)		(119,107	)		(21,695	)		(518,635	)		(4,306	)		(73,189	)		134,320			(817,176	)
Net insurance income		—			—			—			—			—			749,261			4,144			249,433			—			32,230			1,035,068
Insurance income		—			—			—			—			—			5,103,973			9,298			483,264			—			(19,007	)		5,577,528
Insurance expense		—			—			—			—			—			(4,354,712	)		(5,154	)		(233,831	)		—			51,237			(4,542,460	)
Net gains (losses) on financial instruments at fair value through profit or loss		17,147			—			180,736			197,883			224,044			174,184			6,934			316,886			17,288			(366,509	)		570,710
Net other insurance finance income (expenses)		—			—			—			—			—			(16,963	)		—			(352,691	)		—			—			(369,654	)
Net other operating income (expenses)		(378,577	)		313,647			(473,858	)		(538,788	)		76,073			10,530			(182,828	)		117,017			(227,006	)		54,434			(690,568	)

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.1 Overall Segment Information and Business Segments (cont’d)


(In millions of Korean won)	2024
	Banking business												Securities			Non-life insurance			Credit card			Life insurance			Others			Consolidation adjustments			Total
	Corporate banking			Retail banking			Other banking services			Sub-total			Securities			Non-life insurance			Credit card			Life insurance			Others			Consolidation adjustments			Total
General and administrative expenses		(931,803	)		(918,929	)		(291,249	)		(2,141,981	)		(486,291	)		(64,701	)		(289,635	)		(60,841	)		(240,107	)		61,429			(3,222,127	)
Operating income before provision for credit losses		1,817,251			1,162,625			231,395			3,211,271			493,022			796,342			739,669			196,843			544,348			(352,100	)		5,629,395
Reversal (provision) of credit losses		(257,211	)		(95,828	)		3,699			(349,340	)		(67	)		(12,100	)		(418,377	)		502			(210,432	)		8,726			(981,088	)
Net operating income (expenses)		1,560,040			1,066,797			235,094			2,861,931			492,955			784,242			321,292			197,345			333,916			(343,374	)		4,648,307
Share of profit (loss) of associates and joint ventures		—			—			4,252			4,252			(13,748	)		1,028			611			(131	)		1,505			4,370			(2,113	)
Net other non-operating income (expenses)		(51,135	)		—			(807,551	)		(858,686	)		(6,221	)		(7,889	)		17,077			4,674			(3,114	)		(24,709	)		(878,868	)
Segment profit (loss) before income tax expense		1,508,905			1,066,797			(568,205	)		2,007,497			472,986			777,381			338,980			201,888			332,307			(363,713	)		3,767,326
Income tax benefit (expense)		(420,633	)		(266,625	)		146,093			(541,165	)		(96,251	)		(205,601	)		(85,401	)		(56,193	)		(45,292	)		29,544			(1,000,359	)

Profit (loss) for the period		1,088,272			800,172			(422,112	)		1,466,332			376,735			571,780			253,579			145,695			287,015			(334,169	)		2,766,967

Profit (loss) attributable to shareholders of the Parent Company		1,077,748			800,172			(372,062	)		1,505,858			376,131			571,427			255,715			145,695			285,721			(366,116	)		2,774,431
Profit (loss) attributable to non-controlling interests		10,524			—			(50,050	)		(39,526	)		604			353			(2,136	)		—			1,294			31,947			(7,464	)
Total assets *		239,124,552			176,075,559			147,687,069			562,887,180			63,384,388			40,776,375			30,541,628			34,047,554			64,172,457			(37,964,050	)		757,845,532
Total liabilities *		222,291,921			210,839,098			91,728,841			524,859,860			56,498,405			34,982,352			25,236,826			30,984,398			27,995,907			(2,527,397	)		698,030,351

*	Assets and liabilities of the reporting segments are amounts before intersegment transactions as of December 31, 2024.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.2 Services and Geographical Segments

5.2.1 Services information

Net operating revenues from external customers by service for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)
	2025		2024
Banking service		5,797,033		4,951,518
Securities service		1,056,129		994,310
Non-life insurance service		685,033		972,720
Credit card service		1,007,830		1,059,224
Life insurance service		195,742		261,446
Others		350,201		612,304

		9,091,968		8,851,522

5.2.2 Geographical information

Geographical net operating revenues from external for the six-month periods ended June 30, 2025 and 2024, and major non-current assets as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)
	Net operating revenues from external customers				Major non-current assets
	2025		2024		June 30, 2025		December 31, 2024
Domestic		8,304,994		8,135,075		9,101,277		9,915,068
United States		35,535		75,016		32,018		35,576
New Zealand		1,351		6,976		750		829
China		83,415		97,575		22,464		22,271
Cambodia		360,338		276,687		90,881		101,879
United Kingdom		32,880		33,623		11,507		9,023
Indonesia		145,369		170,954		396,881		430,632
Others		128,086		55,616		30,896		35,746
Consolidation adjustments		—		—		525,736		564,851

		9,091,968		8,851,522		10,212,410		11,115,875

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6. Financial Assets and Financial Liabilities

6.1 Classification and Fair Value of Financial Instruments

6.1.1 Carrying amount and fair value of financial assets and liabilities by category as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Carrying amount		Fair value
Financial assets
Cash and due from financial institutions		34,118,314		34,121,667
Financial assets at fair value through profit or loss:		88,393,886		88,393,886
Due from financial institutions		66,069		66,069
Debt securities		81,925,368		81,925,368
Equity securities		5,159,331		5,159,331
Loans		1,019,105		1,019,105
Others		224,013		224,013
Derivatives held for trading		6,446,040		6,446,040
Derivatives held for hedging		476,833		476,833
Loans measured at amortized cost		478,247,445		480,638,453
Securities measured at amortized cost		33,362,347		33,063,201
Financial assets at fair value through other comprehensive income:		96,698,844		96,698,844
Debt securities		90,738,977		90,738,977
Equity securities		4,352,850		4,352,850
Loans		1,607,017		1,607,017
Other financial assets		24,217,542		24,217,542

		761,961,251		764,056,466

Financial liabilities
Financial liabilities at fair value through profit or loss		2,636,337		2,636,337
Financial liabilities designated at fair value through profit or loss		7,649,945		7,649,945
Derivatives held for trading		6,175,175		6,175,175
Derivatives held for hedging		157,123		157,123
Deposits		442,086,824		442,778,251
Borrowings		69,921,065		69,951,295
Debentures		74,120,211		74,678,642
Other financial liabilities		52,392,978		52,392,978

		655,139,658		656,419,746

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.1.1 Carrying amount and fair value of financial assets and liabilities by category as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)	December 31, 2024
	Carrying amount		Fair value
Financial assets
Cash and due from financial institutions		29,869,111		29,869,335
Financial assets at fair value through profit or loss:		79,450,093		79,450,093
Due from financial institutions		59,838		59,838
Debt securities		73,768,636		73,768,636
Equity securities		4,275,337		4,275,337
Loans		1,187,763		1,187,763
Others		158,519		158,519
Derivatives held for trading		10,954,870		10,954,870
Derivatives held for hedging		775,897		775,897
Loans measured at amortized cost		472,071,840		473,234,273
Securities measured at amortized cost		37,113,552		36,572,012
Financial assets at fair value through other comprehensive income:		93,895,912		93,895,912
Debt securities		88,735,996		88,735,996
Equity securities		3,713,288		3,713,288
Loans		1,446,628		1,446,628
Other financial assets		14,404,227		14,404,227

		738,535,502		739,156,619

Financial liabilities
Financial liabilities at fair value through profit or loss		2,717,732		2,717,732
Financial liabilities designated at fair value through profit or loss		8,002,499		8,002,499
Derivatives held for trading		11,409,695		11,409,695
Derivatives held for hedging		373,799		373,799
Deposits		435,687,897		435,991,820
Borrowings		68,077,012		68,046,196
Debentures		76,171,257		76,583,392
Other financial liabilities		33,594,883		33,594,883

		636,034,774		636,720,016

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Group discloses the fair value of each class of assets and liabilities in a way that permits it to be compared with its carrying amount at the end of each reporting period. The best evidence of fair value of financial instruments is a quoted price in an active market.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.1.1 Carrying amount and fair value of financial assets and liabilities by category as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)

Methods of determining fair value of financial instruments are as follows:


Cash and due from financial institutions		Fair value of cash is same as carrying amount. Carrying amount of demand deposit and settlement deposit is a reasonable approximation of fair value because these financial instruments do not have a fixed maturity and are receivable on demand. Fair value of general deposit is measured using Discounted Cash Flow (“DCF”) Model.

Securities		Fair value of securities and others that are traded in an active market is determined using the quoted prices. If there is no quoted price, fair value is determined using external professional valuation institutions. The institutions use one or more valuation techniques that are deemed appropriate considering the characteristics of the financial instruments among DCF Model, Free Cash Flow to Equity Model, Comparable Company Analysis, Dividend Discount Model, Risk Adjusted Discount Rate Method, and Net Asset Value Method.

Loans		Fair value of loans is determined using DCF Model discounting the expected cash flows, which are contractual cash flows adjusted by the expected prepayment rate, at an appropriate discount rate.

Derivatives and financial instruments at fair value through profit or loss		Fair value of exchange traded derivatives is determined using quoted price in an active market, and fair value of OTC derivatives is determined using valuation techniques. The Group uses internally developed valuation models that are widely used by market participants to determine fair value of plain vanilla OTC derivatives including options, interest rate swaps, and currency swaps, based on observable market parameters. However, some complex financial instruments are valued using appropriate models developed from generally accepted market valuation models including Finite Difference Method (“FDM”), MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, Closed Form, and Tree Model or valuation results from independent external professional valuation institutions.

Deposits		Carrying amount of demand deposits is a reasonable approximation of fair value because they do not have a fixed maturity and are payable on demand. Fair value of time deposits is determined using DCF Model discounting the expected cash flows, which are contractual cash flows adjusted by the expected prepayment rate, at an appropriate discount rate.

Borrowings		Carrying amount of overdrafts in foreign currency is a reasonable approximation of fair value because they do not have a fixed maturity and are payable on demand. Fair value of other borrowings is determined using DCF Model.

Debentures		Fair value is determined using valuation results of external professional valuation institutions, which are calculated using market inputs.

Other financial assets and other financial liabilities		Carrying amount is a reasonable approximation of fair value because other financial assets and other financial liabilities are temporary accounts used for other various transactions and their maturities are relatively short or not defined.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.1.2 Fair value hierarchy

The Group believes that valuation techniques used for measuring the fair value of financial instruments are reasonable and that the fair value recognized in the consolidated statement of financial position is appropriate. However, the fair value of the financial instruments recognized in the consolidated statement of financial position may be different if other valuation techniques or assumptions are used. Additionally, as there are a variety of valuation techniques and assumptions used in measuring fair value, it may be difficult to reasonably compare the fair value with that of other financial institutions.

The Group classifies and discloses fair value of the financial instruments into the three fair value levels as follows:

Level 1: The fair values are based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.

Level 2: The fair values are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: The fair values are based on unobservable inputs for the asset or liability.

The fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. If an observable input requires an adjustment using an unobservable input and that adjustment results in a significantly higher or lower fair value measurement, the resulting measurement would be categorized within Level 3 of the fair value hierarchy.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the consolidated statements of financial position

Fair value hierarchy of financial assets and liabilities at fair value in the consolidated statements of financial position as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Fair value hierarchy						Total
	Level 1		Level 2		Level 3		Total
Financial assets
Financial assets at fair value through profit or loss:		28,718,452		39,322,327		20,353,107		88,393,886
Due from financial institutions		—		—		66,069		66,069
Debt securities		25,019,812		39,150,337		17,755,219		81,925,368
Equity securities		3,474,627		171,990		1,512,714		5,159,331
Loans		—		—		1,019,105		1,019,105
Others		224,013		—		—		224,013
Derivatives held for trading		297,292		5,908,592		240,156		6,446,040
Derivatives held for hedging		—		476,833		—		476,833
Financial assets at fair value through other comprehensive income:		47,015,587		48,055,543		1,627,714		96,698,844
Debt securities		46,218,116		44,520,861		—		90,738,977
Equity securities		797,471		1,927,665		1,627,714		4,352,850
Loans		—		1,607,017		—		1,607,017

		76,031,331		93,763,295		22,220,977		192,015,603

Financial liabilities
Financial liabilities at fair value through profit or loss		2,636,337		—		—		2,636,337
Financial liabilities designated at fair value through profit or loss		411,177		1,141,632		6,097,136		7,649,945
Derivatives held for trading		335,243		5,353,462		486,470		6,175,175
Derivatives held for hedging		—		157,123		—		157,123

		3,382,757		6,652,217		6,583,606		16,618,580

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the consolidated statements of financial position (cont’d)


(In millions of Korean won)	December 31, 2024
	Fair value hierarchy						Total
	Level 1		Level 2		Level 3		Total
Financial assets
Financial assets at fair value through profit or loss:		25,554,893		33,768,117		20,127,083		79,450,093
Due from financial institutions		—		—		59,838		59,838
Debt securities		22,775,948		33,630,189		17,362,499		73,768,636
Equity securities		2,620,426		137,928		1,516,983		4,275,337
Loans		—		—		1,187,763		1,187,763
Others		158,519		—		—		158,519
Derivatives held for trading		20,637		10,682,718		251,515		10,954,870
Derivatives held for hedging		—		775,897		—		775,897
Financial assets at fair value through other comprehensive income:		43,858,598		48,537,327		1,499,987		93,895,912
Debt securities		43,319,466		45,416,530		—		88,735,996
Equity securities		539,132		1,674,169		1,499,987		3,713,288
Loans		—		1,446,628		—		1,446,628

		69,434,128		93,764,059		21,878,585		185,076,772

Financial liabilities
Financial liabilities at fair value through profit or loss		2,717,732		—		—		2,717,732
Financial liabilities designated at fair value through profit or loss		300,489		1,529,492		6,172,518		8,002,499
Derivatives held for trading		353,074		10,458,585		598,036		11,409,695
Derivatives held for hedging		—		373,799		—		373,799

		3,371,295		12,361,876		6,770,554		22,503,725

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the consolidated statements of financial position (cont’d)

Valuation techniques and inputs of financial assets and liabilities classified as Level 2 and measured at fair value in the consolidated statements of financial position as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Fair value		Valuation techniques	Inputs
Financial assets
Financial assets at fair value through profit or loss:		39,322,327
Debt securities		39,150,337	DCF Model, Closed Form, Monte Carlo Simulation, Black-Scholes Model, Hull-white Model, Net Asset Value Method, Binomial Model, and others	Projected cash flow, Fair value of assets acquired, Dividend yield, Price of underlying asset, Interest rate, Discount rate, Volatility, Correlation coefficient, and others
Equity securities		171,990	DCF Model	Interest rate, Discount rate, and others
Derivatives held for trading		5,908,592	DCF Model, Closed Form, FDM, Monte Carlo Simulation, Black-Scholes Model, Hull-white Model, Option Model, and others	Price of underlying asset, Underlying asset index, Interest rate, Volatility, Foreign exchange rate, Discount rate, and others
Derivatives held for hedging		476,833	DCF Model, Closed Form, FDM	Projected cash flow, Discount rate, Volatility, Foreign exchange rate, Risk free interest rate, and others
Financial assets at fair value through other comprehensive income:		48,055,543
Debt securities		44,520,861	DCF Model, Option Model	Underlying asset index, Interest rate, Discount rate, and others
Equity securities		1,927,665	DCF Model	Interest rate, Discount rate, and others
Loans		1,607,017	DCF Model	Discount rate

		93,763,295

Financial liabilities
Financial liabilities designated at fair value through profit or loss		1,141,632	DCF Model, Closed Form, Monte Carlo Simulation, Black-Scholes Model, Hull-white Model, and others	Price of underlying asset, Interest rate, Dividend yield, Volatility, Discount rate
Derivatives held for trading		5,353,462	DCF Model, Closed Form, Monte Carlo Simulation, Black-Scholes Model, Hull-white Model, and others	Price of underlying asset, Interest rate, Foreign exchange rate, Credit spread, Discount rate, Volatility, and others
Derivatives held for hedging		157,123	DCF Model, Closed Form, FDM	Projected cash flow, Discount rate, Volatility, Foreign exchange rate, Risk free interest rate, and others

		6,652,217

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the consolidated statements of financial position (cont’d)


(In millions of Korean won)	December 31, 2024
	Fair value		Valuation techniques	Inputs
Financial assets
Financial assets at fair value through profit or loss:		33,768,117
Debt securities		33,630,189	DCF Model, Closed form fomula, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, Net Asset Value Method, Binomial Model, and others	Projected cash flow, Fair value of assets acquired, Dividend yield, Price of underlying asset, Interest rate, Discount rate, Volatility, Correlation coefficient, and others
Equity securities		137,928	DCF Model	Interest rate, Discount rate, and others
Derivatives held for trading		10,682,718	DCF Model, Closed form fomula, FDM, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, Option Model, and others	Price of underlying asset, Underlying asset index, Interest rate, Volatility, Foreign exchange rate, Discount rate, and others
Derivatives held for hedging		775,897	DCF Model, Closed Form, FDM	Projected cash flow, Discount rate, Forward foreign exchange rate, Volatility, Foreign exchange rate, CRS interest rate, and others
Financial assets at fair value through other comprehensive income:		48,537,327
Debt securities		45,416,530	DCF Model, Option Model	Underlying asset index, Interest rate, Discount rate
Equity securities		1,674,169	DCF Model	Interest rate, Discount rate
Loans		1,446,628	DCF Model	Discount rate

		93,764,059

Financial liabilities
Financial liabilities designated at fair value through profit or loss		1,529,492	DCF Model, Closed form fomula, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, and others	Price of underlying asset, Interest rate, Dividend yield, Volatility, Discount rate
Derivatives held for trading		10,458,585	DCF Model, Closed form fomula, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, and others	Interest rate, Price of underlying asset, Foreign exchange rate, Credit spread, Discount rate, Volatility, and others
Derivatives held for hedging		373,799	DCF Model, Closed Form, FDM	Projected cash flow, Discount rate, Forward foreign exchange rate, Volatility, Foreign exchange rate, Risk free interest rate, and others

		12,361,876

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed

Fair value hierarchy of financial assets and liabilities whose fair value is disclosed as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Fair value hierarchy						Total
	Level 1		Level 2		Level 3		Total
Financial assets
Cash and due from financial institutions 1		2,639,400		29,204,324		2,277,943		34,121,667
Loans measured at amortized cost		—		69,700		480,568,753		480,638,453
Securities measured at amortized cost 2		3,166,908		29,859,813		36,480		33,063,201
Other financial assets 2		—		—		24,217,542		24,217,542

		5,806,308		59,133,837		507,100,718		572,040,863

Financial liabilities
Deposits 1		—		179,777,506		263,000,745		442,778,251
Borrowings 3		—		3,424,539		66,526,756		69,951,295
Debentures		—		65,548,423		9,130,219		74,678,642
Other financial liabilities 2		—		—		52,392,978		52,392,978

		—		248,750,468		391,050,698		639,801,166


(In millions of Korean won)	December 31, 2024
	Fair value hierarchy						Total
	Level 1		Level 2		Level 3		Total
Financial assets
Cash and due from financial institutions 1		2,353,334		24,731,260		2,784,741		29,869,335
Loans measured at amortized cost		—		106,823		473,127,450		473,234,273
Securities measured at amortized cost 2		4,746,587		31,799,265		26,160		36,572,012
Other financial assets 2		—		—		14,404,227		14,404,227

		7,099,921		56,637,348		490,342,578		554,079,847

Financial liabilities
Deposits 1		—		174,567,804		261,424,016		435,991,820
Borrowings 3		—		4,441,612		63,604,584		68,046,196
Debentures		—		67,455,577		9,127,815		76,583,392
Other financial liabilities 2		—		—		33,594,883		33,594,883

		—		246,464,993		367,751,298		614,216,291

1	The amounts included in Level 2 are the carrying amounts which are reasonable approximations of fair value.

2	The amounts included in Level 3 are the carrying amounts which are reasonable approximations of fair value.

3	Borrowings of 8,092 million and 15,155 million included in Level 2 are the carrying amounts which are reasonable approximations of fair value as of June 30, 2025 and December 31, 2024, respectively.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed (cont’d)

For financial assets and liabilities whose carrying amount is a reasonable approximation of fair value, valuation techniques and inputs are not disclosed.

Valuation techniques and inputs of financial assets and liabilities classified as Level 2, and whose fair value is disclosed as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)

June 30, 2025

Fair value

Valuation techniques

Inputs

Financial assets

Loans measured at amortized cost

69,700

DCF Model

Discount rate

Securities measured at amortized cost

29,859,813

DCF Model,

MonteCarlo Simulation

Discount rate,
Interest rate

29,929,513

Financial liabilities

Borrowings

3,416,447

DCF Model

Discount rate

Debentures

65,548,423

DCF Model

Discount rate

68,964,870

(In millions of Korean won)

December 31, 2024

Fair value

Valuation techniques

Inputs

Financial assets

Loans measured at amortized cost

106,823

DCF Model

Discount rate

Securities measured at amortized cost

31,799,265

DCF Model,

MonteCarlo Simulation

Discount rate,
Interest rate

31,906,088

Financial liabilities

Borrowings

4,426,457

DCF Model

Discount rate

Debentures

67,455,577

DCF Model

Discount rate

71,882,034

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed (cont’d)

Valuation techniques and inputs of financial assets and liabilities classified as Level 3, and whose fair value is disclosed as of June 30, 2025 and December 31, 2024 are as follows:


(In millions of Korean won)	June 30, 2025
	Fair value		Valuation techniques		Inputs
Financial assets
Cash and due from financial institutions		2,277,943		DCF Model	Credit spread, Other spread, Interest rate, Discount rate
Loans measured at amortized cost		480,568,753		DCF Model	Credit spread, Other spread, Prepayment rate, Interest rate, Discount rate, and others

		482,846,696

Financial liabilities
Deposits		263,000,745		DCF Model	Other spread, Prepayment rate, Interest rate, Discount rate
Borrowings		66,526,756		DCF Model	Other spread, Projected cash flow, Discount rate
Debentures		9,130,219		DCF Model	Projected cash flow, Discount rate, and others

		338,657,720


(In millions of Korean won)	December 31, 2024
	Fair value		Valuation techniques		Inputs
Financial assets
Cash and due from financial institutions		2,784,741		DCF Model	Credit spread, Other spread, Interest rate, Discount rate
Loans measured at amortized cost		473,127,450		DCF Model	Credit spread, Other spread, Prepayment rate, Interest rate, Discount rate, and others

		475,912,191

Financial liabilities
Deposits		261,424,016		DCF Model	Other spread, Prepayment rate, Interest rate, Discount rate
Borrowings		63,604,584		DCF Model	Other spread, Projected cash flow, Discount rate
Debentures		9,127,815		DCF Model	Projected cash flow, Discount rate, and others

		334,156,415

6.2 Disclosure of Fair Value Hierarchy Level 3

6.2.1 Valuation policy and process of Level 3 fair value

The Group uses external, independent and qualified valuation service in addition to internal valuation models to determine the fair value of financial instruments at the end of every reporting period.

If the changes in situation and events which cause transfers between the fair value hierarchy level for a financial asset or liability occur, the Group’s policy is to recognize such transfers as having occurred at the beginning of the reporting period.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.2 Changes in fair value (Level 3) measured using valuation technique based on unobservable inputs in the market

6.2.2.1 Changes in financial instruments classified as Level 3 of the fair value hierarchy for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Financial assets at fair value through profit or loss								Financial investments			Financial liabilities at fair value through profit or loss			Net derivative financial instruments
	Due from financial institutions measured at fair value through profit or loss		Securities measured at fair value through profit or loss			Loans measured at fair value through profit or loss			Equity securities measured at fair value through other comprehensive income			Financial liabilities designated at fair value through profit or loss			Derivatives held for trading
Beginning		59,838		18,879,482			1,187,764			1,499,987			(6,172,518	)		(346,521	)
Total gains or losses:
Profit or loss		6,231		(109,284	)		2,542			—			(176,903	)		48,556
Other comprehensive income (loss)		—		(1	)		—			67,983			(9,038	)		—
Purchases		—		2,494,889			1,584,395			90,582			—			11
Sales		—		(1,926,841	)		(1,755,596	)		(23,047	)		—			(38	)
Issuances		—		—			—			—			(1,318,755	)		(4,450	)
Settlements		—		—			—			—			1,580,078			60,538
Transfers into Level 3 *		—		8,978			—			—			—			—
Transfers out of Level 3 *		—		(79,290	)		—			(7,791	)		—			(4,410	)

Ending		66,069		19,267,933			1,019,105			1,627,714			(6,097,136	)		(246,314	)

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.2.1 Changes in financial instruments classified as Level 3 of the fair value hierarchy for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Financial assets at fair value through profit or loss								Financial investments			Financial liabilities at fair value through profit or loss			Net derivative financial instruments
	Due from financial institutions measured at fair value through profit or loss		Securities measured at fair value through profit or loss			Loans measured at fair value through profit or loss			Equity securities measured at fair value through other comprehensive income			Financial liabilities designated at fair value through profit or loss			Derivatives held for trading
Beginning		53,791		17,986,748			183,490			1,450,908			(7,028,486	)		(666,734	)
Total gains or losses:
Profit or loss		5,596		344,090			11,850			—			(186,570	)		(148,504	)
Other comprehensive income (loss)		—		1			—			(156,088	)		(17,053	)		—
Purchases		—		1,935,248			267,602			104,702			—			2,384
Sales		—		(1,760,585	)		(155,540	)		(53	)		—			(4,594	)
Issuances		—		—			—			—			(826,495	)		(441	)
Settlements		—		—			—			—			2,419,287			401,651
Transfers into Level 3 *		—		8,239			243			—			—			—
Transfers out of Level 3 *		—		(14,882	)		—			—			—			—

Ending		59,387		18,498,859			307,645			1,399,469			(5,639,317	)		(416,238	)

*	Transfers into or out of Level 3 of the fair value hierarchy occurred due to the change in the availability of observable market data.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.2.2 In relation to changes in financial instruments classified as Level 3 of the fair value hierarchy, total gains or losses recognized in profit or loss for the period, and total gains or losses recognized in profit or loss from financial instruments held at the end of the reporting period for the six-month periods ended June 30, 2025 and 2024, are as follows:

(In millions of Korean won)


	2025								2024
	Net gains (losses) on financial instruments at fair value through profit or loss			Net Other operating income (expenses)			Net interest income		Net gains (losses) on financial instruments at fair value through profit or loss			Net Other operating income (expenses)		Net interest income
Total gains (losses) recognized in profit or loss for the period		(19,358	)		(209,500	)		—		(159,423	)		185,885		—
Total gains (losses) recognized in profit or loss from financial instruments held at the end of the reporting period		34,999			(187,141	)		—		(105,726	)		161,992		—

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.3 Sensitivity analysis of changes in unobservable inputs

6.2.3.1 Information about fair value measurements using unobservable inputs as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)

June 30, 2025

Fair value

Valuation techniques

Unobservable inputs

Range of
unobservable
inputs (%)

Relationship of

unobservable inputs to fair
value

Financial assets

Financial assets at fair value through profit or loss:

Due from financial institutions

66,069

Hull-white Model

Volatility

0.55

The higher the volatility, the higher the fair value fluctuation

Debt securities

17,755,219

DCF Model, Closed Form, FDM, Monte Carlo Simulation, Hull-white Model, Black-Scholes Model, Option Model, Binomial Model, Net Asset Value Method, Milestone Method, Income Approach, Market Value Approach, and others

Growth rate

1.00 ~ 3.00

The higher the growth rate, the higher the fair value

Volatility

0.55 ~ 51.10

The higher the volatility, the higher the fair value fluctuation

Discount rate

1.95 ~ 13.67

The lower the discount

rate, the higher the fair value

Stock index fluctuation rate

10.00 ~ 30.68

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-58.08 ~ 100.00

The higher the correlation coefficient, the higher the fair value fluctuation

Liquidation value

-1.00 ~ 1.00

The higher the liquidation value, the higher the fair value

Recovery rate

40.00

The higher the recovery rate, the higher the fair value

Rate of real estate price fluctuation

0.00

The higher the sale price of real estate, the higher the fair value

Equity securities

1,512,714

Income Approach, Market Value Approach, Asset Value Approach, DCF Model, Comparable Company Analysis, Risk Adjusted Discount Rate Method, Dividend Discount Model, Usage of Past Transactions, Binomial Model, and others

Growth rate

0.00 ~ 1.00

The higher the growth rate, the higher the fair value

Discount rate

6.70 ~ 27.73

The lower the discount rate, the higher the fair value

Volatility

0.49 ~ 74.38

The higher the volatility, the higher the fair value fluctuation

Loans

1,019,105

DCF Model

Default rate

0.00

The lower the default rate, the higher the fair value

Discount rate

8.39

The lower the discount

rate, the higher the fair value

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.3.1 Information about fair value measurements using unobservable inputs as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)

(In millions of Korean won)

June 30, 2025

Fair value

Valuation techniques

Unobservable inputs

Range of
unobservable
inputs (%)

Relationship of

unobservable inputs to fair
value

Derivatives held for trading:

Stock and index

215,670

DCF Model, Closed Form, FDM, Monte Carlo Simulation, Hull-white Model, Black-Scholes Model, Binomial Model, Net Asset Value Method

Volatility of underlying asset

0.00 ~ 73.38

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-58.08 ~ 74.25

The higher the correlation coefficient, the higher the fair value fluctuation

Currency, interest rate, and others

24,486

DCF Model, Hull-white Model, Monte Carlo Simulation, Closed Form

Volatility

0.55 ~ 25.57

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-58.08 ~ 100.00

The higher the correlation coefficient, the higher the fair value fluctuation

Financial assets at fair value through other comprehensive income:

Equity securities

1,627,714

DCF Model, Comparable Company Analysis, Risk Adjusted Discount Rate Method, IMV Model, Income Approach, Net Asset Value Method, Market Value Approach, Tree model, Monte Carlo Simulation, and others

Growth rate

0.00 ~ 1.00

The higher the growth rate, the higher the fair value

Discount rate

5.24 ~ 16.24

The lower the discount rate, the higher the fair value

Volatility

0.55 ~ 32.29

The higher the volatility, the higher the fair value fluctuation

22,220,977

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.3.1 Information about fair value measurements using unobservable inputs as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)

(In millions of Korean won)

June 30, 2025

Fair value

Valuation techniques

Unobservable inputs

Range of
unobservable
inputs (%)

Relationship of

unobservable inputs to fair
value

Financial liabilities

Financial liabilities designated at fair value through profit or loss:

Derivative-linked securities

6,097,136

DCF Model, Closed Form, Monte Carlo Simulation, Black-Scholes Model, Hull-white Model, Net Asset Value Method, and others

Volatility of underlying asset

0.55 ~ 73.38

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-58.08 ~ 100.00

The higher the correlation coefficient, the higher the fair value fluctuation

Derivatives held for trading:

Stock and index

106,267

DCF Model, Closed Form, Monte Carlo Simulation, Black-Scholes Model, Hull-white Model, Net Asset Value Method, and others

Volatility of underlying asset

19.03 ~ 73.38

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-58.08 ~ 92.24

The higher the correlation coefficient, the higher the fair value fluctuation

Others

380,203

DCF Model, Hull-white Model, Monte Carlo Simulation, Closed Form

Discount rate

0.00 ~ 3.10

The lower the discount rate, the higher the fair value

Volatility of underlying asset

0.55 ~ 23.14

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-25.18 ~ 100.00

The higher the correlation coefficient, the higher the fair value fluctuation

6,583,606

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.3.1 Information about fair value measurements using unobservable inputs as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)

(In millions of Korean won)

December 31, 2024

Fair value

Valuation techniques

Unobservable inputs

Range of
unobservable
inputs (%)

Relationship of

unobservable inputs to fair
value

Financial assets

Financial assets at fair value through profit or loss:

Due from financial institutions

59,838

Hull-white Model

Volatility

0.46 ~ 0.62

The higher the volatility, the higher the fair value fluctuation

Debt securities

17,362,499

DCF Model, Closed Form, FDM, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Option Model, Binomial Model, Net Asset Value Method, Milestone Method, Income Approach, Market Value Approach, and others

Growth rate

1.00 ~ 3.00

The higher the growth rate, the higher the fair value

Volatility

0.46 ~ 76.22

The higher the volatility, the higher the fair value fluctuation

Discount rate

0.00 ~ 15.53

The lower the discount rate, the higher the fair value

Stock index fluctuation rate

10.00 ~ 29.90

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

The higher the correlation coefficient, the higher the fair value fluctuation

Liquidation value

-1.00 ~ 1.00

The higher the liquidation value, the higher the fair value

Recovery rate

40.00

The higher the recovery rate, the higher the fair value

Rate of real estate price fluctuation

-1.00 ~ 1.00

The higher the sale price of real estate, the higher the fair value

Equity securities

1,516,983

Growth rate

0.00 ~ 1.00

The higher the growth rate, the higher the fair value

Discount rate

5.90 ~ 33.90

The lower the discount rate, the higher the fair value

Volatility

0.50 ~ 0.71

The higher the volatility, the higher the fair value fluctuation

Loans

1,187,763

DCF Model

Discount rate

8.54

The lower the discount rate, the higher the fair value

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.3.1 Information about fair value measurements using unobservable inputs as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)

(In millions of Korean won)

December 31, 2024

Fair value

Valuation techniques

Unobservable inputs

Range of
unobservable
inputs (%)

Relationship of

unobservable inputs to fair
value

Derivatives held for trading:

Stock and index

30,246

DCF Model, Closed Form, FDM, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Binomial Model, Net Asset Value Method

Volatility of underlying asset

18.85 ~ 65.13

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-58.46 ~ 74.20

The higher the correlation coefficient, the higher the fair value fluctuation

Currency, interest rate, and others

221,269

DCF Model, Hull-white Model, MonteCarlo Simulation, Closed Form

Volatility

0.57 ~ 25.22

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-58.46 ~ 100.00

The higher the correlation coefficient, the higher the fair value fluctuation

Financial assets at fair value through other comprehensive income:

Equity securities

1,499,987

DCF Model, Comparable Company Analysis, Risk Adjusted Discount Rate Method, IMV Model, Income Approach, Net Asset Value Method, Market Approach, Tree Model, Monte Carlo Simulation, and others

Growth rate

0.00 ~ 1.00

The higher the growth rate, the higher the fair value

Discount rate

6.01 ~ 16.00

The lower the discount rate, the higher the fair value

Volatility

0.50 ~ 31.79

The higher the volatility, the higher the fair value fluctuation

21,878,585

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.3.1 Information about fair value measurements using unobservable inputs as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)

(In millions of Korean won)

December 31, 2024

Fair value

Valuation techniques

Unobservable inputs

Range of
unobservable
inputs (%)

Relationship of

unobservable inputs to fair
value

Financial liabilities

Financial liabilities designated at fair value through profit or loss:

Derivative-linked securities

6,172,518

DCF Model, Closed Form, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, Net Asset Value Method, and others

Volatility of underlying asset

0.51 ~ 65.13

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-58.46 ~ 100.00

The higher the correlation coefficient, the higher the fair value fluctuation

Derivatives held for trading:

Stock and index

159,769

DCF Model, Closed Form, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Net Asset Value Method, and others

Volatility of underlying asset

0.57 ~ 58.87

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-58.46 ~ 100.00

The higher the correlation coefficient, the higher the fair value fluctuation

Others

438,267

DCF Model, Hull-white Model, MonteCarlo Simulation, Closed Form

Discount rate

3.70 ~ 3.74

The lower the discount rate, the higher the fair value

Volatility of underlying asset

0.51 ~ 57.61

The higher the volatility, the higher the fair value fluctuation

Correlation coefficient

-26.22 ~ 100.00

The higher the correlation coefficient, the higher the fair value fluctuation

6,770,554

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.3.2 Sensitivity analysis of changes in unobservable inputs

Sensitivity analysis of financial instruments is performed to measure favorable and unfavorable changes in fair value of financial instruments which are affected by unobservable parameters, using a statistical technique. When the fair value is affected by more than one input parameter, the amounts represent the most favorable or most unfavorable outcome. Level 3 financial instruments subject to sensitivity analysis are (a) equity-related derivatives, currency-related derivatives, and interest rate related derivatives whose fair value changes are recognized in profit or loss, (b) financial liabilities designated at fair value through profit or loss, and (c) due from financial institutions, debt securities (including beneficiary certificates), equity securities, and loans whose fair value changes are recognized in profit or loss or other comprehensive income or loss.

Results of the sensitivity analysis of changes in unobservable inputs as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Profit or loss					Other comprehensive income or loss
	Favorable changes		Unfavorable changes			Favorable changes		Unfavorable changes
Financial assets
Financial assets at fair value through profit or loss: 1
Due from financial institutions		8		(8	)		—		—
Debt securities 4		105,240		(104,225	)		—		—
Equity securities 3		40,144		(25,542	)		—		—
Loans 5		4,829		(4,529	)		—		—
Derivatives held for trading 2		5,372		(6,129	)		—		—
Financial assets at fair value through other comprehensive income:
Equity securities 3		—		—			25,094		(15,582	)

		155,593		(140,433	)		25,094		(15,582	)

Financial liabilities
Financial liabilities designated at fair value through profit or loss 1		14,692		(13,481	)		—		—
Derivatives held for trading 2		19,695		(20,410	)		—		—

		34,387		(33,891	)		—		—

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.3.2 Sensitivity analysis of changes in unobservable inputs (cont’d)


(In millions of Korean won)	December 31, 2024
	Profit or loss					Other comprehensive income or loss
	Favorable changes		Unfavorable changes			Favorable changes		Unfavorable changes
Financial assets
Financial assets at fair value through profit or loss: 1
Due from financial institutions		141		(151	)		—		—
Debt securities 4		103,717		(102,842	)		—		—
Equity securities 3		35,920		(19,754	)		—		—
Loans 5		2,329		(2,119	)		—		—
Derivatives held for trading 2		14,878		(16,535	)		—		—
Financial assets at fair value through other comprehensive income:
Equity securities 3		—		—			57,795		(36,073	)

		156,985		(141,401	)		57,795		(36,073	)

Financial liabilities
Financial liabilities designated at fair value through profit or loss 1		16,840		(16,760	)		—		—
Derivatives held for trading 2		22,119		(24,506	)		—		—

		38,959		(41,266	)		—		—

For financial instruments at fair value through profit or loss, changes in fair value are calculated by shifting principal unobservable input parameters such as discount rate, recovery rate, liquidation value, growth rate by ±1%p and volatility of underlying asset by ±1%p or ±10% and correlation coefficient by ±10%.

2	For derivative financial instruments, changes in fair value are calculated by shifting principal unobservable input parameters such as price of underlying asset and volatility by ± 10%.

3	For equity securities, changes in fair value are calculated by shifting principal unobservable input parameters such as discount rate (-1%p~1%p) and growth rate (-1%p~1%p).

For beneficiary certificates, it is practically impossible to analyze sensitivity of changes in unobservable inputs. However, for beneficiary certificates whose underlying assets are real estates, changes in fair value are calculated by shifting rate of real estate price fluctuation by -1%p~1%p, and for beneficiary certificates whose underlying assets are equity investments, changes in fair value are calculated by shifting principal unobservable input parameters such as liquidation value by -1%p~1%p and discount rate by -1%p~1%p.

5	For loans, changes in fair value are calculated by shifting principal unobservable input parameters such as discount rate by -1%p~1%p.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.2.4 Valuation gains and losses on transaction day

When the Group measures the fair value of OTC derivatives using inputs that are not based on observable market data, there could be a difference between the transaction price and the amount determined using that valuation technique. In these circumstances, the fair value of financial instruments is recognized as the transaction price, and the difference is not recognized in profit or loss but deferred and amortized using the straight-line method over the life of the financial instrument. When the fair value of the financial instruments is subsequently determined using observable market inputs, the remaining deferred amount is recognized in profit or loss.

Changes in deferred valuation gains and losses on transaction day for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Balance at the beginning of the period		12,140			23,431
New transactions		39,629			28,940
Changes during the period		(20,126	)		(42,666	)

Balance at the end of the period		31,643			9,705

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.3 Carrying Amount of Financial Instruments by Category

Financial assets and liabilities are measured at fair value or amortized cost. Carrying amount of financial assets and liabilities by category as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)


	June 30, 2025
	Financial instruments at fair value through profit or loss		Financial instruments at fair value through other comprehensive income		Financial instruments designated at fair value through other comprehensive income		Financial instruments at amortized cost		Derivatives held for hedging		Total
Financial assets
Cash and due from financial institutions		—		—		—		34,118,314		—		34,118,314
Financial assets at fair value through profit or loss		88,393,886		—		—		—		—		88,393,886
Derivative financial assets		6,446,040		—		—		—		476,833		6,922,873
Loans measured at amortized cost		—		—		—		478,247,445		—		478,247,445
Financial investments		—		92,345,994		4,352,850		33,362,347		—		130,061,191
Other financial assets		—		—		—		24,217,542		—		24,217,542

		94,839,926		92,345,994		4,352,850		569,945,648		476,833		761,961,251

(In millions of Korean won)


	June 30, 2025
	Financial instruments at fair value through profit or loss		Financial instruments designated at fair value through profit or loss		Financial instruments at amortized cost		Derivatives held for hedging		Total
Financial liabilities
Financial liabilities at fair value through profit or loss		2,636,337		7,649,945		—		—		10,286,282
Derivative financial liabilities		6,175,175		—		—		157,123		6,332,298
Deposits		—		—		442,086,824		—		442,086,824
Borrowings		—		—		69,921,065		—		69,921,065
Debentures		—		—		74,120,211		—		74,120,211
Other financial liabilities *		—		—		52,392,978		—		52,392,978

		8,811,512		7,649,945		638,521,078		157,123		655,139,658

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6.3 Carrying Amount of Financial Instruments by Category (cont’d)

(In millions of Korean won)


	December 31, 2024
	Financial instruments at fair value through profit or loss		Financial instruments at fair value through other comprehensive income		Financial instruments designated at fair value through other comprehensive income		Financial instruments at amortized cost		Derivatives held for hedging		Total
Financial assets
Cash and due from financial institutions		—		—		—		29,869,111		—		29,869,111
Financial assets at fair value through profit or loss		79,450,093		—		—		—		—		79,450,093
Derivative financial assets		10,954,870		—		—		—		775,897		11,730,767
Loans measured at amortized cost		—		—		—		472,071,840		—		472,071,840
Financial investments		—		90,182,623		3,713,289		37,113,552		—		131,009,464
Other financial assets		—		—		—		14,404,227		—		14,404,227

		90,404,963		90,182,623		3,713,289		553,458,730		775,897		738,535,502

(In millions of Korean won)


	December 31, 2024
	Financial instruments at fair value through profit or loss		Financial instruments designated at fair value through profit or loss		Financial instruments at amortized cost		Derivatives held for hedging		Total
Financial liabilities
Financial liabilities at fair value through profit or loss		2,717,732		8,002,499		—		—		10,720,231
Derivative financial liabilities		11,409,695		—		—		373,799		11,783,494
Deposits		—		—		435,687,897		—		435,687,897
Borrowings		—		—		68,077,012		—		68,077,012
Debentures		—		—		76,171,257		—		76,171,257
Other financial liabilities *		—		—		33,594,883		—		33,594,883

		14,127,427		8,002,499		613,531,049		373,799		636,034,774

*	Other financial liabilities include lease liabilities that are not included in the category of financial instruments measured at amortized cost.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

7. Due from Financial Institutions Measured at Amortized Cost

7.1 Details of due from financial institutions as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)		Financial institutions	Interest rate (%) as of June 30, 2025	June 30, 2025		December 31, 2024
Due from financial institutions in Korean won	Due from the Bank of Korea	The Bank of Korea	—		16,129,369		11,635,481
	Due from banks	Hana Bank and others	0.00 ~ 4.50		3,973,780		3,342,114
	Due from others	Samsung securities and others	0.00 ~ 3.58		1,010,112		1,473,585

					21,113,261		16,451,180

Due from financial institutions in foreign currencies	Due from banks in foreign currencies	The Bank of Korea and others	0.00 ~ 4.30		7,821,801		7,767,797
	Time deposits in foreign currencies	BANK OF COMMUNICATIONS Co., Ltd. NEW YORK BRANCH and others	0.00 ~ 11.25		543,197		634,903
	Due from others	STANDARD CHARTERED BANK, LONDON and others	0.00 ~ 6.40		2,461,877		2,937,813
					10,826,875		11,340,513

					31,940,136		27,791,693

*	Before netting of allowance

7.2 Details of restricted due from financial institutions as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)		Financial institutions	June 30, 2025		December 31, 2024		Reasons of restriction
Due from financial institutions in Korean won	Due from the Bank of Korea	The Bank of Korea		16,129,369		11,635,481	Bank of Korea Act
	Due from banks	Hana Bank and others		38,729		106,500	Net settlement and others
	Due from others	Korea Securities Finance Corp., and others		839,792		1,254,615	Derivatives margin account and others

				17,007,890		12,996,596

Due from financial institutions in foreign currencies	Due from banks in foreign currencies	The Bank of Korea and others		1,465,746		2,736,871	Bank of Korea Act and others
	Time deposits in foreign currencies	BANK OF COMMUNICATIONS Co., Ltd. NEW YORK BRANCH and others		77,278		98,264	Bank Act of the State of New York and others
	Due from others	STANDARD CHARTERED BANK, LONDON and others		2,187,300		2,709,177	Derivatives margin account and others

				3,730,324		5,544,312

				20,738,214		18,540,908

*	Before netting of allowance

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

7.3 Changes in allowances for credit losses of due from financial institutions for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	12-month expected credit losses			Lifetime expected credit losses
	12-month expected credit losses			Non-impaired		Impaired
Beginning		1,572			—		—
Transfer between stages:
Transfer to 12-month expected credit losses		—			—		—
Transfer to lifetime expected credit losses		—			—		—
Impairment		—			—		—
Reversal of credit losses		(6	)		—		—
Others		(78	)		—		—

Ending		1,488			—		—


(In millions of Korean won)	2024
	12-month expected credit losses		Lifetime expected credit losses
	12-month expected credit losses		Non-impaired		Impaired
Beginning		1,021		—		—
Transfer between stages:
Transfer to 12-month expected credit losses		—		—		—
Transfer to lifetime expected credit losses		—		—		—
Impairment		—		—		—
Provision for credit losses		306		—		—
Others		64		—		—

Ending		1,391		—		—

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

8. Derivative Financial Instruments and Hedge Accounting

The Group’s derivative operations focus on addressing the needs of the Group’s corporate clients to hedge their risk exposure and hedging the Group’s risk exposure that results from such client contracts. The Group also engages in derivative trading activities to hedge the interest rate risk and currency risk arising from the Group’s own assets and liabilities. In addition, the Group engages in proprietary trading of derivatives within the predetermined transaction limit.

The Group provides and trades a range of derivative financial instruments, including:

•

Interest rate swaps relating to interest rate risk in Korean won

•

Cross-currency swaps, forwards, and options relating to currency risk

•

Stock index options linked with the Korea Composite Stock Price Index (“KOSPI”)

In particular, the Group applies fair value hedge accounting using interest rate swaps, currency forwards, and others to hedge the risk of changes in fair value due to the changes in interest rate and foreign exchange rate of structured debentures in Korean won, debentures in foreign currencies, structured deposits in foreign currencies, and others. The Group applies cash flow hedge accounting using interest rate swaps, currency swaps, and others to hedge the risk of changes in cash flows of floating rate debt securities in Korean won, borrowings in foreign currencies, group of loans measured at amortized cost, and others. In addition, the Group applies net investments in foreign operations hedge accounting by designating debentures in foreign currencies and cross currency forwards as hedging instruments to hedge the currency risk of net investments in foreign operations.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

8.1 Details of derivative financial instruments held for trading as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)


	June 30, 2025						December 31, 2024
	Notional amount		Assets		Liabilities		Notional amount		Assets		Liabilities
Interest rate
Forwards		21,571,067		655,787		793,652		18,253,487		577,037		736,622
Futures*		6,151,505		3,382		1,129		6,388,783		1,178		5,407
Swaps		291,407,708		306,723		491,280		334,595,285		405,611		552,316
Options		6,708,000		139,917		115,287		7,108,100		152,220		146,648

		325,838,280		1,105,809		1,401,348		366,345,655		1,136,046		1,440,993

Currency
Forwards		113,244,023		2,436,691		1,637,988		136,815,645		5,848,876		3,326,427
Futures*		1,029,245		273		1,870		723,795		1,694		234
Swaps		72,064,855		2,319,664		2,280,739		82,498,194		3,587,141		5,960,622
Options		2,153,509		8,471		18,450		1,999,773		23,808		25,374

		188,491,632		4,765,099		3,939,047		222,037,407		9,461,519		9,312,657

Stock and index
Futures*		3,989,184		6,241		96,639		2,151,606		3,260		7,963
Swaps		4,798,139		257,792		245,277		4,963,174		278,278		156,825
Options		3,849,115		239,599		228,439		2,641,003		15,331		171,368

		12,636,438		503,632		570,355		9,755,783		296,869		336,156

Credit
Swaps		5,602,476		34,428		24,106		4,797,110		37,123		27,397

		5,602,476		34,428		24,106		4,797,110		37,123		27,397

Commodity
Futures*		57,992		1,598		1,041		42,764		1,191		1,012
Swaps		1,575,574		22,555		21,779		1,297,183		12,390		11,781
Options		175,387		3,791		3,877		292,290		3,018		3,130

		1,808,953		27,944		26,697		1,632,237		16,599		15,923

Others		852,130		9,128		213,622		891,012		6,715		276,569

		535,229,909		6,446,040		6,175,175		605,459,204		10,954,871		11,409,695

*	Gains or losses arising from daily mark-to-market futures are reflected in the margin accounts.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

8.2 Average price conditions of future nominal cash flows by type of hedge accounting as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	1 year		2 years		3 years		4 years		5 years		Over 5 years		Total
Fair value hedge
Nominal amount of the hedging instrument		3,152,951		1,054,876		198,468		863,479		988,789		1,048,107		7,306,670
Average price condition (%)		3.82		3.67		4.90		6.00		2.96		3.37		3.94
Average price condition (USD/KRW)		1,348.42		1,313.36		—		—		—		—		1341.71
Average price condition (EUR/KRW)		1,476.63		1,469.57		—		—		—		—		1,473.51
Average price condition (AUD/KRW)		887.71		—		—		—		—		—		887.71
Average price condition (GBP/KRW)		1,543.70		—		—		—		—		—		1,543.70
Cash flow hedge
Nominal amount of the hedging instrument		2,917,464		2,777,617		2,922,214		843,422		397,716		—		9,858,433
Average price condition (%)		3.63		3.34		4.62		3.09		2.75		—		3.94
Average price condition (USD/KRW)		1,269.94		1,440.04		1,357.60		1,331.87		1,364.71		—		1,315.27
Average price condition (EUR/KRW)		—		1,535.03		1,392		—		—		—		1,512.18
Average price condition (AUD/KRW)		896.73		—		932.60		—		—		—		905.35
Hedge of net investments in foreign operations
Nominal amount of the hedging instrument		12,072		218,380		—		—		—		—		230,452
Average price condition (USD/KRW)		1,071.00		1,178.92		—		—		—		—		1173.26

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

8.2 Average price conditions of future nominal cash flows by type of hedge accounting as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)	December 31, 2024
	1 year		2 years		3 years		4 years		5 years		Over 5 years		Total
Fair value hedge
Nominal amount of the hedging instrument		5,071,561		1,674,709		444,487		189,448		941,835		1,998,080		10,320,120
Average price condition (%)		4.58		4.65		4.71		5.74		6.69		3.81		4.68
Average price condition (USD/KRW)		1,341.52		1,298.73		1,276.69		—		—		—		1,325.95
Average price condition (EUR/KRW)		1,464.04		1,469.25		1,447.53		—		—		—		1,464.60
Average price condition (AUD/KRW)		891.13		885.60		—		—		—		—		890.56
Average price condition (GBP/KRW)		1,539.22		—		—		—		—		—		1,539.22
Cash flow hedge
Nominal amount of the hedging instrument		2,385,743		3,059,818		2,779,439		981,453		545,140		—		9,751,593
Average price condition (%)		3.05		4.14		4.98		4.91		3.71		—		4.43
Average price condition (USD/KRW)		1,228.80		1,250.67		1,331.02		1,254.81		1,373.85		—		1,282.82
Average price condition (EUR/KRW)		1,374.73		1,501.00		—		1,392		—		—		1,423.08
Average price condition (AUD/KRW)		851.50		889		932.60		—		—		—		885.25
Hedge of net investments in foreign operations
Nominal amount of the hedging instrument		15,876		236,670		—		—		—		—		252,546
Average price condition (USD/KRW)		1,071.00		1,178.91		—		—		—		—		1,172.13

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

8.3 Fair Value Hedge

8.3.1 Details of fair value hedged items as of June 30, 2025 and December 31, 2024 and changes in fair value for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)		June 30, 2025										2025
		Carrying amount				Accumulated amount of hedge adjustments						Changes in fair value
		Assets		Liabilities		Assets			Liabilities			Changes in fair value
Hedge accounting
Interest rate	Debt securities in Korean won		868,278		—		(2,291	)		—			4,328
	Debt securities in foreign currencies		1,433,042		—		(10,664	)		—			28,287
	Deposits in Korean won		—		203,242		—			13,242			(10,001	)
	Deposits in foreign currencies		—		333,073		—			(3,121	)		(4,455	)
	Debentures in Korean won		—		1,554,151		—			(85,849	)		(23,335	)
	Debentures in foreign currencies		—		757,775		—			(28,937	)		(23,942	)

			2,301,320		2,848,241		(12,955	)		(104,665	)		(29,118	)

Currency	Debt securities in foreign currencies		1,847,019		—		229,018			—			(132,757	)

			1,847,019		—		229,018			—			(132,757	)

			4,148,339		2,848,241		216,063			(104,665	)		(161,875	)

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

8.3.1 Details of fair value hedged items as of June 30, 2025 and December 31, 2024 and changes in fair value for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)		December 31, 2024										2024
		Carrying amount				Accumulated amount of hedge adjustments						Changes in fair value
		Assets		Liabilities		Assets			Liabilities			Changes in fair value
Hedge accounting
Interest rate	Debt securities in Korean won		2,062,063		—		(15,065	)		—			8,117
	Debt securities in foreign currencies		1,699,241		—		(44,081	)		—			3,859
	Deposits in Korean won		—		246,258		—			6,258			(3,561	)
	Deposits in foreign currencies		—		301,107		—			(7,593	)		1,539
	Debentures in Korean won		—		2,320,923		—			(109,077	)		3,183
	Debentures in foreign currencies		—		1,523,883		—			(63,717	)		13,421

			3,761,304		4,392,171		(59,146	)		(174,129	)		26,558

Currency	Debt securities in foreign currencies		1,798,273		—		301,740			—			116,872

			1,798,273		—		301,740			—			116,872

			5,559,577		4,392,171		242,594			(174,129	)		143,430

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

8.3.2 Details of derivative instruments designated as fair value hedge as of June 30, 2025 and December 31, 2024 and changes in fair value for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)
	June 30, 2025						2025
	Notional amount		Carrying amount				Changes in fair value
	Notional amount		Assets		Liabilities		Changes in fair value
Interest rate
Futures		—		—		—		6,114
Swaps		5,283,177		79,988		21,743		21,808

		5,283,177		79,988		21,743		27,922
Currency
Forwards		2,023,493		23,044		29,302		93,907

		7,306,670		103,032		51,045		121,829


	December 31, 2024						2024
	Notional amount		Carrying amount				Changes in fair value
	Notional amount		Assets		Liabilities		Changes in fair value
Interest rate
Futures		720,000		—		—		38
Swaps		7,648,200		84,530		62,666		(28,004	)

		8,368,200		84,530		62,666		(27,966	)
Currency
Forwards		1,951,920		62		119,228		(107,021	)

		10,320,120		84,592		181,894		(134,987	)

8.3.3 Details of hedge ineffectiveness recognized in profit or loss on derivative instruments designated as fair value hedge for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)
	2025			2024
Hedge accounting
Interest rate		(1,196	)		416
Currency		(38,850	)		9,851

		(40,046	)		10,267

8.3.4 Gains or losses on fair value hedging instruments and hedged items attributable to the hedged for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Gains (losses) on hedging instruments		121,829			(133,164	)
Gains (losses) on hedged items attributable to the hedged risk		(169,607	)		141,198

		(47,778	)		8,034

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

8.4 Cash Flow Hedge

8.4.1 Details of cash flow hedged items as of June 30, 2025 and December 31, 2024 and changes in fair value for the six-month periods ended June 30, 2025 and 2024, are as follows:

(In millions of Korean won)


	Cash flow hedge reserve						Changes in fair value
	June 30, 2025			December 31, 2024			2025		2024
Hedge accounting
Interest rate risk		118,229			160,165			40,048		11,163
Currency risk		(40,122	)		(51,847	)		223,234		(63,996	)

		78,107			108,318			263,282		(52,833	)

8.4.2 Details of derivative instruments designated as cash flow hedge as of June 30, 2025 and December 31, 2024 and changes in fair value for the six-month periods ended June 30, 2025 and 2024, are as follows:

(In millions of Korean won)


	June 30, 2025						2025
	Notional amount		Assets		Liabilities		Changes in fair value
Interest rate
Forwards		2,659,807		174,937		40,324		(8,400	)
Swaps		2,869,537		25,378		14,407		(30,935	)

		5,529,344		200,315		54,731		(39,335	)

Currency
Swaps		4,329,089		173,486		48,807		(240,263	)

		9,858,433		373,801		103,538		(279,598	)

(In millions of Korean won)


	December 31, 2024						2024
	Notional amount		Assets		Liabilities		Changes in fair value
Interest rate
Forwards		1,705,449		179,580		8		(45,033	)
Swaps		2,988,310		48,738		5,760		14,645

		4,693,759		228,318		5,768		(30,388	)

Currency
Swaps		5,057,834		462,986		181,828		106,018

		9,751,593		691,304		187,596		75,630

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

8.4.3 Gains or losses on cash flow hedging instruments and hedged items attributable to the hedged risk for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Gains (losses) on hedging instruments:		(279,598	)		75,630
Effective portion of gains (losses) on cash flow hedging instruments (recognized in other comprehensive income or loss)		(283,083	)		75,000
Ineffective portion of gains on cash flow hedging instruments (recognized in profit or loss)		3,485			630

8.4.4 Amounts recognized in other comprehensive income (loss) and reclassified from equity to profit or loss related to derivative instruments designated as cash allow hedge for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Other comprehensive income (loss)		(283,083	)		75,000
Reclassification to profit or loss		241,977			(117,354	)
Income tax effect		10,831			11,172

		(30,275	)		(31,182	)

8.5 Hedge of Net Investments in Foreign Operations

8.5.1 Details of net investments in foreign operations hedged items as of June 30, 2025 and December 31, 2024 and changes in fair value for the six-month periods ended June 30, 2025 and 2024, are as follows:

(In millions of Korean won)


	Foreign currency translation reserve						Changes in fair value
	June 30, 2025			December 31, 2024			2025			2024
Hedge accounting
Currency risk		(189,115	)		(316,109	)		(172,547	)		123,938

8.5.2 Details of financial instruments designated as hedge of net investments in foreign operations as of June 30, 2025 and December 31, 2024 and changes in fair value for the six-month periods ended June 30, 2025 and 2024, are as follows:

(In millions of Korean won)


	June 30, 2025						2025
	Notional amount		Assets		Liabilities		Changes in fair value
Currency
Forwards		12,072		—		2,540		1,769
Debentures in foreign currencies		1,518,759		—		1,518,759		170,778

		1,530,831		—		1,521,299		172,547

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

(In millions of Korean won)


	December 31, 2024						2024
	Notional amount		Assets		Liabilities		Changes in fair value
Currency
Forwards		15,876		—		4,309		1,966
Debentures in foreign currencies		2,077,155		—		2,077,155		(125,904	)

		2,093,031		—		2,081,464		(123,938	)

8.5.3 Fair value of non-derivative financial instruments designated as hedge of net investments in foreign operations as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Debentures in foreign currencies		1,668,436		2,180,537

8.5.4 Gains or losses on net investments in foreign operations hedging instruments and hedged items attributable to the hedged risk for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025		2024
Gains (losses) on hedging instruments:		172,547		(123,938	)
Effective portion of gains(losses) on hedge of net investments in foreign operations (recognized in other comprehensive income or loss)		172,547		(123,938	)
Ineffective portion of losses on hedge of net investments in foreign operations (recognized in profit or loss)		—		—

8.5.5 Effective portion of gains or losses on net investments in foreign operations hedging instruments recognized in other comprehensive income (loss) for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Other comprehensive loss		172,547			(123,938	)
Reclassification to profit or loss		—			—
Income tax effect		(45,553	)		32,719

		126,994			(91,219	)

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

9. Loans Measured at Amortized Cost

9.1 Details of loans as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Loans measured at amortized cost		483,347,344			477,066,990
Deferred loan origination fees and costs		585,989			638,230
Less: Allowances for credit losses		(5,685,888	)		(5,633,380	)

		478,247,445			472,071,840

9.2 Details of loans to banks as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Loans measured at amortized cost		11,126,080			9,830,773
Less: Allowances for credit losses		(15,367	)		(31,158	)

		11,110,713			9,799,615

9.3 Details of loan types and customer types of loans to customers other than banks as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Retail			Corporate			Credit card			Total
Loans in Korean won		192,757,646			208,400,826			—			401,158,472
Loans in foreign currencies		5,865,259			25,090,107			—			30,955,366
Domestic import usance bills		—			3,625,401			—			3,625,401
Off-shore funding loans		—			989,683			—			989,683
Call loans		—			1,981,200			—			1,981,200
Bills bought in Korean won		—			1,389			—			1,389
Bills bought in foreign currencies		—			1,008,937			—			1,008,937
Guarantee payments under acceptances and guarantees		—			15,621			—			15,621
Credit card receivables in Korean won		—			—			22,736,762			22,736,762
Credit card receivables in foreign currencies		—			—			37,450			37,450
Bonds purchased under repurchase agreements		—			2,005,753			—			2,005,753
Privately placed bonds		—			396,980			—			396,980
Factored receivables		—			62,884			—			62,884
Lease receivables		415,533			129,929			—			545,462
Loans for installment credit		6,433,484			852,409			—			7,285,893

		205,471,922			244,561,119			22,774,212			472,807,253

Proportion (%)		43.46			51.72			4.82			100.00
Less: Allowances for credit losses		(1,603,036	)		(3,248,801	)		(818,684	)		(5,670,521	)

		203,868,886			241,312,318			21,955,528			467,136,732

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

9.3 Details of loan types and customer types of loans to customers other than banks as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)	December 31, 2024
	Retail			Corporate			Credit card			Total
Loans in Korean won		188,109,614			203,391,791			—			391,501,405
Loans in foreign currencies		5,978,891			26,954,295			—			32,933,186
Domestic import usance bills		—			3,790,808			—			3,790,808
Off-shore funding loans		—			626,058			—			626,058
Bills bought in Korean won		—			1,862			—			1,862
Bills bought in foreign currencies		—			2,379,270			—			2,379,270
Guarantee payments under acceptances and guarantees		—			16,930			—			16,930
Credit card receivables in Korean won		—			—			23,436,170			23,436,170
Credit card receivables in foreign currencies		—			—			42,304			42,304
Bonds purchased under repurchase agreements		—			4,967,067			—			4,967,067
Privately placed bonds		—			389,783			—			389,783
Factored receivables		7			62,602			—			62,609
Lease receivables		406,844			194,057			—			600,901
Loans for installment credit		6,327,692			798,402			—			7,126,094

		200,823,048			243,572,925			23,478,474			467,874,447

Proportion (%)		42.92			52.06			5.02			100.00
Less: Allowances for credit losses		(1,587,817	)		(3,137,665	)		(876,740	)		(5,602,222	)

		199,235,231			240,435,260			22,601,734			462,272,225

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

10. Allowances for Credit Losses

10.1 Changes in allowances for credit losses of loans measured at amortized cost for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Retail									Corporate									Credit card
	12-month expected credit losses			Lifetime expected credit losses						12-month expected credit losses			Lifetime expected credit losses						12-month expected credit losses			Lifetime expected credit losses
	12-month expected credit losses			Not impaired			Impaired			12-month expected credit losses			Not impaired			Impaired			12-month expected credit losses			Not impaired			Impaired
Beginning		607,351			331,435			649,031			913,140			923,564			1,332,119			240,434			372,640			263,666
Transfer between stages:
Transfer to 12-month expected credit losses		89,696			(78,664	)		(11,032	)		159,313			(154,447	)		(4,866	)		41,158			(40,991	)		(167	)
Transfer to lifetime expected credit losses		(69,562	)		96,022			(26,460	)		(172,784	)		212,844			(40,060	)		(34,372	)		35,066			(694	)
Impairment		(11,085	)		(80,199	)		91,284			(4,381	)		(149,083	)		153,464			(2,714	)		(17,050	)		19,764
Write-offs		—			—			(331,123	)		—			(3	)		(312,048	)		—			—			(282,357	)
Sales		(807	)		(1,789	)		(35,403	)		(43	)		(2,121	)		(122,782	)		(1,798	)		(56,068	)		(89,155	)
Provision (reversal) for credit losses 1,2		(3,903	)		33,526			388,148			2,961			134,344			513,119			(13,991	)		73,232			331,022
Others (exchange differences, etc.)		(3,373	)		(874	)		(29,183	)		(12,504	)		(8,731	)		(96,847	)		(84	)		(66	)		(18,791	)

Ending		608,317			299,457			695,262			885,702			956,367			1,422,099			228,633			366,763			223,288

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

10.1 Changes in allowances for credit losses of loans measured at amortized cost for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Retail									Corporate									Credit card
	12-month expected credit losses			Lifetime expected credit losses						12-month expected credit losses			Lifetime expected credit losses						12-month expected credit losses			Lifetime expected credit losses
	12-month expected credit losses			Not impaired			Impaired			12-month expected credit losses			Not impaired			Impaired			12-month expected credit losses			Not impaired			Impaired
Beginning		584,650			283,382			501,049			939,640			935,715			1,282,544			206,525			328,152			401,148
Transfer between stages:
Transfer to 12-month expected credit losses		88,432			(82,631	)		(5,801	)		188,607			(177,279	)		(11,328	)		50,044			(49,633	)		(411	)
Transfer to lifetime expected credit losses		(65,301	)		89,253			(23,952	)		(188,613	)		219,197			(30,584	)		(26,110	)		31,832			(5,722	)
Impairment		(19,531	)		(75,080	)		94,611			(5,096	)		(109,429	)		114,525			(3,500	)		(36,423	)		39,923
Write-offs		—			—			(306,669	)		—			(1	)		(299,029	)		—			—			(322,004	)
Sales		(741	)		(490	)		(35,211	)		—			(376	)		(64,706	)		—			—			—
Provision (reversal) for credit losses 1,2		19,405			47,338			372,450			(46,722	)		(13,319	)		250,742			(15,788	)		41,157			385,979
Others (exchange differences, etc.)		707			232			901			(2,794	)		3,770			13,163			(1	)		—			(27,714	)

Ending		607,621			262,004			597,378			885,022			858,278			1,255,327			211,170			315,085			471,199

Provision for credit losses in the consolidated statements of comprehensive income also includes provision (reversal) for credit losses of due from financial institutions (Note 7.3), provision (reversal) for credit losses of debt securities (Note 11.5), provision (reversal) for credit losses of unused commitments, acceptances and guarantees (Note 17.2), provision (reversal) for credit losses of financial guarantee contracts (Note 17.3), and provision (reversal) for credit losses of other financial assets.

2	Includes 184,905 million and 144,256 million of collections from written-off loans for the six-month periods ended June 30, 2025 and 2024, respectively.

The amount of financial assets that the Group wrote off during the current year but is continuing recovery activities is 925,531 million and 927,703 million for the six-month periods ended June 30, 2025 and 2024, respectively. Also, the Group manages the written-off loans that their legal extinctive prescriptions have not been completed, and that have not been collected. The balances of those loans are 11,550,897 million and 11,468,928 million as of June 30, 2025 and December 31, 2024, respectively.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

10.2 Changes in gross carrying amount of loans for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	12-month expected credit losses			Lifetime expected credit losses
	12-month expected credit losses			Not impaired			Impaired
Beginning		431,753,998			40,940,591			5,010,631
Transfer between stages:
Transfer to 12-month expected credit losses		14,105,604			(14,057,376	)		(48,228	)
Transfer to lifetime expected credit losses (not impaired)		(25,662,599	)		26,545,637			(883,038	)
Transfer to lifetime expected credit losses (impaired)		(578,510	)		(2,688,758	)		3,267,268
Write-offs		—			(3	)		(925,528	)
Sales		(584,624	)		(180,396	)		(867,167	)
Net increase (decrease) (execution, repayment, and others)		12,307,068			(2,967,068	)		(554,169	)

Ending		431,340,937			47,592,627			4,999,769


(In millions of Korean won)	2024
	12-month expected credit losses			Lifetime expected credit losses
	12-month expected credit losses			Not impaired			Impaired
Beginning		408,283,402			37,076,587			4,908,103
Transfer between stages:
Transfer to 12-month expected credit losses		16,862,864			(16,778,247	)		(84,617	)
Transfer to lifetime expected credit losses (not impaired)		(22,043,833	)		22,536,184			(492,351	)
Transfer to lifetime expected credit losses (impaired)		(790,541	)		(2,015,679	)		2,806,220
Write-offs		—			(1	)		(927,702	)
Sales		(2,240,146	)		(57,962	)		(426,344	)
Net increase (decrease) (execution, repayment, and others)		18,108,344			(2,995,018	)		(392,796	)

Ending		418,180,090			37,765,864			5,390,513

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

11. Financial Assets at Fair Value through Profit or Loss and Financial Investments

11.1 Details of financial assets at fair value through profit or loss and financial investments as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Financial assets at fair value through profit or loss
Debt securities:
Government and public bonds		14,185,980			13,389,804
Financial bonds		13,895,561			11,601,280
Corporate bonds		8,359,932			7,323,299
Asset-backed securities		29,703			39,444
Beneficiary certificates		25,346,913			20,644,681
Derivative-linked securities		2,140,995			1,924,109
Other debt securities		17,966,284			18,846,019
Equity securities:
Stocks		4,881,318			3,964,021
Other equity securities		278,013			311,316
Loans:
Privately placed bonds		218,185			208,856
Other loans		800,920			978,907
Due from financial institutions:
Other due from financial institutions		66,069			59,838
Others		224,013			158,519

		88,393,886			79,450,093

Financial investments
Financial assets at fair value through other comprehensive income
Debt securities:
Government and public bonds		40,544,058			38,108,213
Financial bonds		24,572,483			26,091,249
Corporate bonds		23,113,001			22,059,099
Asset-backed securities		2,379,705			2,366,140
Other debt securities		129,730			111,295
Equity securities:
Stocks		1,900,616			1,643,898
Equity investments		11,012			9,410
Other equity securities		2,441,222			2,059,980
Loans:
Privately placed bonds		1,607,017			1,446,628

		96,698,844			93,895,912

Financial assets at amortized cost
Debt securities:
Government and public bonds		5,677,016			6,029,059
Financial bonds		11,586,519			12,761,712
Corporate bonds		8,379,881			8,946,009
Asset-backed securities		7,522,185			9,321,199
Other debt securities		212,268			72,969
Less: Allowances for credit losses		(15,522	)		(17,396	)

		33,362,347			37,113,552

		130,061,191			131,009,464

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

11.2 Dividend income from equity securities designated at fair value through other comprehensive income for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)		2025				2024
		From the equity securities derecognized		From the equity securities held		From the equity securities derecognized		From the equity securities held
Equity securities measured at fair value through other comprehensive income:
Stocks	Listed		109		10,734		—		3,597
	Unlisted		—		15,194		—		15,743
Equity investments			—		302		111		—
Other equity securities			289		53,501		343		24,239

			398		79,731		454		43,579

11.3 Derecognized equity securities measured at fair value through other comprehensive income for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)		2025					2024
		Disposal price		Accumulated other comprehensive income (loss) as of disposal date			Disposal price		Accumulated other comprehensive income (loss) as of disposal date
Equity securities measured at fair value through other comprehensive income:
Stocks	Listed		10,517		(6,835	)		8,054		(5,586	)
	Unlisted		2,248		609			—		—
Other equity securities			96,066		(647	)		80,620		843

			108,831		(6,873	)		88,674		(4,743	)

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

11.4 Provision (reversal) for credit losses of financial investments for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Provision		Reversal			Total
Securities measured at fair value through other comprehensive income		3,856		(4,669	)		(813	)
Loans measured at fair value through other comprehensive income		84		—			84
Securities measured at amortized cost		1,196		(2,996	)		(1,800	)

		5,136		(7,665	)		(2,529	)


(In millions of Korean won)	2024
	Provision		Reversal			Total
Securities measured at fair value through other comprehensive income		5,433		(3,687	)		1,746
Loans measured at fair value through other comprehensive income		362		(174	)		188
Securities measured at amortized cost		1,793		(1,266	)		527

		7,588		(5,127	)		2,461

11.5 Changes in allowances for credit losses of financial investments for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	12-month expected credit losses			Lifetime expected credit losses
	12-month expected credit losses			Not impaired		Impaired
Beginning		43,031			—		82
Transfer between stages:
Transfer to 12-month expected credit losses		—			—		—
Transfer to lifetime expected credit losses		—			—		—
Sales		(1,984	)		—		—
Reversal for credit losses		(2,528	)		—		(1	)
Others		(438	)		—		—

Ending		38,081			—		81


(In millions of Korean won)	2024
	12-month expected credit losses			Lifetime expected credit losses
	12-month expected credit losses			Not impaired		Impaired
Beginning		44,465			—		77
Transfer between stages:
Transfer to 12-month expected credit losses		—			—		—
Transfer to lifetime expected credit losses		—			—		—
Sales		(1,151	)		—		—
Provision for credit losses		2,461			—		—
Others		639			—		—

Ending		46,414			—		77

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

12. Deferred Income Tax Assets and Liabilities

Details of deferred income tax assets and liabilities as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Assets			Liabilities			Net amount
Other provisions		218,237			—			218,237
Allowances for credit losses		14,556			(2,471	)		12,085
Impairment losses of property and equipment		16,509			(1,326	)		15,183
Interest on equity-indexed deposits		24			—			24
Share-based payments		36,698			—			36,698
Provisions for acceptances and guarantees		14,583			(174	)		14,409
Gains or losses on valuation of derivatives		126,620			(216,329	)		(89,709	)
Present value discount		10,638			(385	)		10,253
Gains or losses on fair value hedge		—			(27,439	)		(27,439	)
Accrued interest		—			(265,148	)		(265,148	)
Deferred loan origination fees and costs		16,011			(189,107	)		(173,096	)
Advanced depreciation provision		—			(4,003	)		(4,003	)
Gains or losses on revaluation		313			(290,224	)		(289,911	)
Investments in subsidiaries and others		74,635			(246,917	)		(172,282	)
Gains or losses on valuation of security investment		394,434			(609,067	)		(214,633	)
Defined benefit liabilities		600,218			—			600,218
Accrued expenses		276,493			—			276,493
Retirement insurance expense		—			(616,128	)		(616,128	)
Adjustments to the prepaid contributions		—			(64,924	)		(64,924	)
Derivative-linked securities		7,501			(60,150	)		(52,649	)
Others *		1,233,787			(2,030,091	)		(796,304	)

		3,041,257			(4,623,883	)		(1,582,626	)

Offsetting of deferred income tax assets and liabilities		(2,873,702	)		2,873,702			—

		167,555			(1,750,181	)		(1,582,626	)

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

12. Deferred Income Tax Assets and Liabilities (cont’d)


(In millions of Korean won)	December 31, 2024
	Assets			Liabilities			Net amount
Other provisions		219,460			—			219,460
Allowances for credit losses		17,060			—			17,060
Impairment losses of property and equipment		10,543			(1,359	)		9,184
Share-based payments		36,962			—			36,962
Provisions for acceptances and guarantees		16,172			(163	)		16,009
Gains or losses on valuation of derivatives		296,164			(225,773	)		70,391
Present value discount		11,952			(14	)		11,938
Gains or losses on fair value hedge		—			(45,741	)		(45,741	)
Accrued interest		1,679			(262,437	)		(260,758	)
Deferred loan origination fees and costs		16,278			(189,207	)		(172,929	)
Advanced depreciation provision		—			(4,003	)		(4,003	)
Gains or losses on revaluation		313			(290,227	)		(289,914	)
Investments in subsidiaries and others		77,426			(248,692	)		(171,266	)
Gains or losses on valuation of security investment		489,018			(448,460	)		40,558
Defined benefit liabilities		619,544			—			619,544
Accrued expenses		365,702			—			365,702
Retirement insurance expense		—			(590,749	)		(590,749	)
Adjustments to the prepaid contributions		—			(49,134	)		(49,134	)
Derivative-linked securities		6,883			(86,112	)		(79,229	)
Others *		1,244,462			(2,391,015	)		(1,146,553	)

		3,429,618			(4,833,086	)		(1,403,468	)

Offsetting of deferred income tax assets and liabilities		(3,150,794	)		3,150,794			—

		278,824			(1,682,292	)		(1,403,468	)

*	Includes Purchase Price Allocation (“PPA”) amount arising from the acquisition of KB Life Insurance Co., Ltd. and KB Insurance Co., Ltd.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

13. Financial Liabilities at Fair Value through Profit or Loss

13.1 Details of financial liabilities at fair value through profit or loss and financial liabilities designated at fair value through profit or loss as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Financial liabilities at fair value through profit or loss
Borrowed securities sold		2,411,897		2,558,520
Others		224,440		159,212

		2,636,337		2,717,732

Financial liabilities designated at fair value through profit or loss
Derivative-linked securities		7,649,945		8,002,499

		7,649,945		8,002,499

		10,286,282		10,720,231

13.2 Difference between the amount contractually required to pay at maturity and carrying amount of financial liabilities designated at fair value through profit or loss as of June 30, 2025 and December 31, 2024 are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Amount contractually required to pay at maturity		7,564,623			7,947,236
Carrying amount		7,649,945			8,002,499

Difference		(85,322	)		(55,263	)

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

14. Deposits

Details of deposits as of June 30, 2025 and December 31, 2024 are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Demand deposits
Demand deposits in Korean won		161,987,689			156,242,487
Demand deposits in foreign currencies		14,005,252			13,667,783

		175,992,941			169,910,270

Time deposits
Time deposits in Korean won		222,243,572			221,342,787
Fair value adjustments of fair value hedged time deposits in Korean won		13,242			6,258

		222,256,814			221,349,045

Time deposits in foreign currencies		25,567,594			28,299,460
Fair value adjustments of fair value hedged time deposits in foreign currencies		(3,121	)		(7,593	)

		25,564,473			28,291,867

		247,821,287			249,640,912

Certificates of deposits		10,927,649			9,805,371

Investment contract liabilities		7,344,947			6,331,344

		442,086,824			435,687,897

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

15. Borrowings

15.1 Details of borrowings as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
General borrowings		52,490,486		52,433,193
Bonds sold under repurchase agreements and others		15,010,053		12,803,106
Call money		2,420,526		2,840,713

		69,921,065		68,077,012

15.2 Details of general borrowings as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)		Lenders	Interest rate (%) as of June 30, 2025	June 30, 2025		December 31, 2024
Borrowings in Korean won	Borrowings from the Bank of Korea	The Bank of Korea	1.00		6,358,717		4,618,026
	Borrowings from the government	SEMAS and others	0.00 ~ 3.50		2,349,478		2,409,409
	Borrowings from banks	Shinhan Bank and others	2.20 ~ 6.50		637,950		1,267,487
	Borrowings from non-banking financial institutions	Korea Securities Finance Corporation and others	0.65 ~ 6.50		2,825,216		3,014,113
	Other borrowings	The Korea Development Bank and others	0.00 ~ 7.50		22,193,556		22,294,928

					34,364,917		33,603,963

Borrowings in foreign currencies	Due to banks	Hana Bank and others	—		8,092		15,155
	Borrowings from banks	CITIBANK, HONG KONG and others	0.00 ~ 9.50		15,086,130		15,914,710
	Borrowings from other financial institutions	The Export-Import Bank of Korea and others	4.53		5,561		6,027
	Other borrowings	CITICORP INTERNATIONAL LTD and others	2.61 ~ 8.25		3,025,786		2,893,338

					18,125,569		18,829,230

					52,490,486		52,433,193

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

16. Debentures

16.1 Details of debentures as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	Interest rate (%) as of June 30, 2025		June 30, 2025			December 31, 2024
Debentures in Korean won
Structured debentures		5.15 ~ 5.86		20,540			20,560
Subordinated fixed rate debentures		2.02 ~ 4.90		5,045,150			4,445,150
Fixed rate debentures		1.33 ~ 7.20		52,721,835			54,370,733
Floating rate debentures		2.60 ~ 5.12		1,680,000			1,250,000

				59,467,525			60,086,443
Fair value adjustments of fair value hedged debentures in Korean won				(85,120	)		(108,207	)
Less: Discount on debentures in Korean won				(56,099	)		(57,075	)

				59,326,306			59,921,161

Debentures in foreign currencies
Floating rate debentures		2.28 ~ 5.42		3,093,368			3,122,201
Fixed rate debentures		0.05 ~ 9.06		11,766,198			13,229,773

				14,859,566			16,351,974
Fair value adjustments of fair value hedged debentures in foreign currencies				(28,937	)		(63,717	)
Less: Discount on debentures in foreign currencies				(36,724	)		(38,161	)

				14,793,905			16,250,096

				74,120,211			76,171,257

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

17. Provisions

17.1 Details of provisions as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Provisions for credit losses of unused loan commitments		287,484		297,855
Provisions for credit losses of acceptances and guarantees		50,850		56,097
Provisions for credit losses of financial guarantee contracts		8,231		7,378
Provisions for restoration costs		181,484		180,590
Others		391,351		385,712

		919,400		927,632

17.2 Changes in provisions for credit losses of unused loan commitments, and acceptances and guarantees for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)
	2025
	Provisions for credit losses of unused loan commitments									Provisions for credit losses of acceptances and guarantees
	12-month expected credit losses			Lifetime expected credit losses						12-month expected credit losses			Lifetime expected credit losses
	12-month expected credit losses			Not impaired			Impaired			12-month expected credit losses			Not impaired			Impaired
Beginning		216,995			78,975			1,885			39,465			2,487			14,145
Transfer between stages:
Transfer to 12-month expected credit losses		20,604			(20,475	)		(129	)		65			(65	)		—
Transfer to lifetime expected credit losses		(13,629	)		15,526			(1,897	)		(796	)		831			(35	)
Impairment		(1,382	)		(2,982	)		4,364			(1	)		(165	)		166
Provision (reversal) for credit losses		(15,287	)		9,507			(2,398	)		(2,671	)		3,909			(4,615	)
Others (exchange differences, etc.)		(1,958	)		(222	)		(13	)		(1,613	)		(89	)		(168	)

Ending		205,343			80,329			1,812			34,449			6,908			9,493

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

17.2 Changes in provisions for credit losses of unused loan commitments, and acceptances and guarantees for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)
	2024
	Provisions for credit losses of unused loan commitments									Provisions for credit losses of acceptances and guarantees
	12-month expected credit losses			Lifetime expected credit losses						12-month expected credit losses			Lifetime expected credit losses
	12-month expected credit losses			Not impaired			Impaired			12-month expected credit losses			Not impaired			Impaired
Beginning		232,674			136,318			10,674			30,849			148,197			4,408
Transfer between stages:
Transfer to 12-month expected credit losses		33,730			(32,792	)		(938	)		706			(706	)		—
Transfer to lifetime expected credit losses		(13,055	)		12,929			126			(357	)		357			—
Impairment		(546	)		(1,728	)		2,274			(52	)		(81	)		133
Provision (reversal) for credit losses		(25,270	)		19,460			(1,194	)		2,241			(7,979	)		7,760
Others (exchange differences, etc.)		2,739			2,269			(17	)		1,097			7,968			163

Ending		230,272			136,456			10,925			34,484			147,756			12,464

17.3 Changes in provisions for credit losses of financial guarantee contracts for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Beginning		7,378			6,500
Provision (reversal)		1,658			(1,050	)
Others		(805	)		—

Ending		8,231			5,450

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

17.4 Changes in provisions for restoration costs for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Beginning		180,590			155,214
Provision		5,197			4,484
Reversal		(1,489	)		(689	)
Used		(5,291	)		(2,360	)
Unwinding of discount		2,565			2,634
Effect of changes in discount rate		(88	)		42

Ending		181,484			159,325

Provisions for restoration costs are the present value of estimated costs to be incurred for the restoration of the leased properties. The expenditure of the restoration cost will be incurred at the end of each lease contract, and the lease period is used to reasonably estimate the time of expenditure. Also, the average restoration expense based on actual three-year historical data and three-year historical average inflation rate are used to estimate the present value of estimated costs.

17.5 Changes in other provisions for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Membership rewards program			Dormant accounts			Litigations			Others 1 2 3			Total
Beginning		73			3,153			156,214			226,272			385,712
Increase		44			4,351			7,829			104,071			116,295
Decrease		(41	)		(4,328	)		(34,605	)		(70,647	)		(109,621	)
Others		—			—			(1,033	)		(2	)		(1,035	)

Ending		76			3,176			128,405			259,694			391,351


(In millions of Korean won)	2024
	Membership rewards program			Dormant accounts			Litigations			Others			Total
Beginning		47			3,359			185,667			530,511			719,584
Increase		38			847			10,817			808,274			819,976
Decrease		(24	)		(1,335	)		(39,262	)		(508,393	)		(549,014	)
Others		—			—			622			—			622

Ending		61			2,871			157,844			830,392			991,168

1	Includes other provisions of 10,243 million and 17,064 million related to the Livelihood finance support program as of June 30, 2025 and December 31, 2024, respectively

2	Includes other provisions of 36,753 million and 55,182 million related to the voluntary compensation for the performance of the Hang Seng China Enterprise Index as of June 30, 2025 and December 31, 2024, respectively.

3	Includes other provisions of 99,918 million and 33,776 million related to completion-guaranteed land trust projects of KB Real Estate Trust Co., Ltd. as of June 30, 2025 and December 31, 2024, respectively.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

18. Net Defined Benefit Liabilities

18.1 Defined Benefit Plan

The Group operates defined benefit plans which have the following characteristics:

•

The Group has the obligation to pay the agreed benefits to all its current and former employees.

•

The Group assumes actuarial risk (that benefits will cost more than expected) and investment risk.

The net defined benefit liabilities recognized in the consolidated statement of financial position are calculated by the independent actuary in accordance with actuarial valuation method. The defined benefit obligation is calculated using the projected unit credit method. Assumptions based on market data and historical data such as discount rate, future salary increase rate, mortality, and consumer price index are used which are updated annually.

Actuarial assumptions may differ from actual results, due to changes in the market conditions, economic trends, and mortality trends which may affect net defined benefit liabilities and future payments. Actuarial gains and losses arising from changes in actuarial assumptions are recognized in the period incurred through other comprehensive income.

18.2 Details of net defined benefit liabilities as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Present value of defined benefit obligation		2,465,159			2,537,534
Fair value of plan assets		(2,658,208	)		(2,695,847	)

Net defined benefit liabilities *		(193,049	)		(158,313	)

As of June 30, 2025, the net defined benefit asset of 193,049 million is the amount obtained by subtracting the net defined benefit liability of 97,076 million from the net defined benefit asset of 290,125 million. Similarly, as of December 31, 2024, the net defined benefit asset of 158,313 million is the amount obtained by subtracting the net defined benefit liability of 100,187 million from the net defined benefit asset of 258,500 million.

18.3 Details of post-employment benefits recognized in profit or loss for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Current service cost		112,646			109,374
Past service cost		187			—
Net interest expense on net defined benefit liabilities		(3,589	)		(6,725	)

Post-employment benefits *		109,244			102,649

Includes post-employment benefits amounting to 12,572 million recognized as insurance service expenses, 1,830 million recognized as other operating expenses and 41 million recognized as advanced payments for the six-month period ended June 30, 2025 and 10,260 million recognized as insurance service expenses, 1,639 million recognized as other operating expenses and 34 million recognized as advanced payments for the six-month period ended June 30, 2024.

Table of Contents

KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

19. Equity

19.1 Share Capital

19.1.1 Details of share capital as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won and in number of shares)	June 30, 2025		December 31, 2024
Type of share	Ordinary share		Ordinary share
Number of authorized shares		1,000,000,000		1,000,000,000
Par value per share (In Korean won)		5,000		5,000
Number of issued shares		381,462,103		393,528,423
Share capital *		2,090,558		2,090,558

*	Due to the retirement of shares deducted through retained earnings, it is different from the total par value of the shares issued.

19.1.2 Changes in outstanding shares for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In number of shares)	2025			2024
Beginning		373,600,719			378,663,825
Increase		—			5,000,000
Decrease		(9,448,744	)		(4,398,135	)

Ending		364,151,975			379,265,690

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

19.2 Hybrid Securities

Details of hybrid securities classified as equity as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)


Hybrid securities	Issuance date	Maturity	Interest rate (%) as of June 30, 2025		June 30, 2025		December 31, 2024
Series 1-2	May. 2, 2019	Perpetual bond		3.44		49,896		49,896
Series 2-1	May. 8, 2020	Perpetual bond		3.30		—		324,099
Series 2-2	May. 8, 2020	Perpetual bond		3.43		74,812		74,812
Series 3-1	Jul. 14, 2020	Perpetual bond		3.17		369,099		369,099
Series 3-2	Jul. 14, 2020	Perpetual bond		3.38		29,922		29,922
Series 4-1	Oct. 20, 2020	Perpetual bond		3.00		433,996		433,996
Series 4-2	Oct. 20, 2020	Perpetual bond		3.28		64,855		64,855
Series 5-1	Feb. 19, 2021	Perpetual bond		2.67		419,071		419,071
Series 5-2	Feb. 19, 2021	Perpetual bond		2.87		59,862		59,862
Series 5-3	Feb. 19, 2021	Perpetual bond		3.28		119,727		119,727
Series 6-1	May. 28, 2021	Perpetual bond		3.20		165,563		165,563
Series 6-2	May. 28, 2021	Perpetual bond		3.60		109,708		109,708
Series 7-1	Oct. 8, 2021	Perpetual bond		3.57		208,468		208,468
Series 7-2	Oct. 8, 2021	Perpetual bond		3.80		59,834		59,834
Series 8-1	Feb. 16, 2022	Perpetual bond		4.00		442,970		442,970
Series 8-2	Feb. 16, 2022	Perpetual bond		4.30		155,626		155,626
Series 9-1	May. 12, 2022	Perpetual bond		4.68		478,829		478,829
Series 9-2	May. 12, 2022	Perpetual bond		4.97		19,906		19,906
Series 10-1	Aug. 26, 2022	Perpetual bond		4.90		407,936		407,936
Series 10-2	Aug. 26, 2022	Perpetual bond		5.15		70,819		70,819
Series 10-3	Aug. 26, 2022	Perpetual bond		5.30		19,944		19,944
Series 11-1	Feb. 3, 2023	Perpetual bond		4.90		548,681		548,681
Series 11-2	Feb. 3, 2023	Perpetual bond		5.03		49,871		49,871
Series 12	Feb. 28, 2024	Perpetual bond		4.39		399,060		399,084
Series 13	Jan. 22, 2025	Perpetual bond		4.00		404,028		—

						5,162,483		5,082,578

*	As a result of exercising the call option for the Parent Company’s write-down contingent convertible bonds on May 8, 2025, 325,000 million was fully redeemed before maturity.

The above hybrid securities are early redeemable by the Group after 5 or 7 or 10 years from the issuance date. On the other hand, hybrid securities of 1,065,613 million issued by Kookmin Bank, hybrid securities of 232,672 million issued by KB Securities Co., Ltd., hybrid securities of 49,800 million issued by KB Life Insurance Co., Ltd., hybrid securities of 249,150 million issued by KB Kookmin Card Co., Ltd. and hybrid securities of 19,993 million issued by KB Real Estate Trust. Co., Ltd. are recognized as non-controlling interests and are early redeemable after 5 years from the issuance date and each interest payment date thereafter.

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

19.3 Capital Surplus

Details of capital surplus as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Paid-in capital in excess of par value		13,190,274			13,190,274
Losses on sales of treasury shares		(477,358	)		(477,358	)
Other capital surplus		3,932,993			3,933,818

		16,645,909			16,646,734

19.4 Accumulated Other Comprehensive Income

Details of accumulated other comprehensive income as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Remeasurements of net defined benefit liabilities		(247,391	)		(247,241	)
Currency translation differences		463,044			809,089
Losses on financial instruments at fair value through other comprehensive income		(958,674	)		(1,518,990	)
Share of other comprehensive loss of associates and joint ventures		(5,481	)		(3,153	)
Gains on cash flow hedging instruments		78,107			108,318
Losses on hedging instruments of net investments in foreign operations		(189,115	)		(316,109	)
Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk		(28,021	)		(17,314	)
Insurance finance income		610,644			1,682,322

		(276,887	)		496,922

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

19.5 Retained Earnings

19.5.1 Details of retained earnings as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Legal reserves 1		1,436,869		1,219,810
Voluntary reserves		982,000		982,000
Unappropriated retained earnings 2		34,270,040		32,606,410

		36,688,909		34,808,220

With respect to the allocation of net profit earned in a fiscal term, the Parent Company must set aside in its legal reserve an amount equal to at least 10% of its profit after tax as reported in the financial statements, each time it pays dividends on its net profits earned until its legal reserve reaches the aggregate amount of its paid-in capital in accordance with Article 53 of the Financial Holding Company Act. This reserve is not available for the payment of cash dividends, but may be transferred to share capital, or used to reduce accumulated deficit.

2	The regulatory reserve for credit losses the Group appropriated in retained earnings is 4,162,496 million and 4,370,051 million as of June 30, 2025 and December 31, 2024, respectively.

19.5.2 Regulatory reserve for credit losses

Measurement and disclosure of regulatory reserve for credit losses are required in accordance with Articles 26 through 28 of Regulations on Supervision of Financial Holding Companies.

19.5.2.1 Details of regulatory reserve for credit losses as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Regulatory reserve for credit losses attributable to:
Shareholders of the Parent Company		4,162,496		4,370,051
Non-controlling interests		150,323		169,603

		4,312,819		4,539,654

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

19.5.2.2 Regulatory reserve for credit losses estimated to be appropriated and adjusted profit after provision of regulatory reserve for credit losses for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won, except for per share amounts)	2025						2024
	Three months			Six months			Three months		Six months
Provision (reversal) of regulatory reserve for credit losses		(107,863	)		(207,555	)		60,193		(140,479	)
Adjusted profit after provision of regulatory reserve for credit losses 1,2		1,792,601			3,539,930			1,619,795		2,814,379
Adjusted basic earnings per share after provision of regulatory reserve for credit losses 1		4,898			9,594			4,259		7,392
Adjusted diluted earnings per share after provision of regulatory reserve for credit losses 1		4,857			9,507			4,220		7,298

1	Adjusted profit after provision of regulatory reserve for credit losses is not based on Korean IFRS. It is calculated by reflecting provision of regulatory reserve for credit losses before tax to the net profit attributable to shareholders of the Parent Company.

2	After deducting dividends on hybrid securities

19.6 Treasury Shares

Changes in treasury shares for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won and in number of shares)	2025
	Beginning		Acquisition		Retirement			Ending
Number of treasury shares		19,927,704		9,448,744		(12,066,320	)		17,310,128
Carrying amount		1,236,060		820,000		(814,522	)		1,241,538

(In millions of Korean won and in number of shares)	2025
	Beginning		Acquisition		Disposal			Ending
Number of treasury shares		24,847,247		4,398,135		(5,000,000	)		24,245,382
Carrying amount *		1,165,837		320,000		(234,600	)		1,251,237

*	5 million treasury shares deposited at the Korea Securities Depository for the exchange of exchangeable bonds was all disposed of on February 14, 2024 through the exercise of exchange rights.

The Parent Company retired 4,575,874 shares ( 400,000 million), 1,089,097 shares ( 100,000 million) and 6,401,349 shares ( 520,000 million) of the treasury shares on May 15, 2025, each acquired in accordance with the resolution of the Board of Directors on July 23, 2024, October 24, 2024, and February 5, 2025 respectively.

Also, the Parent Company plans to retire 3,047,395 share ( 300,000 million) of treasury shares on January 15, 2026, acquired in accordance with the resolution of the Board of Directors on April 24, 2025 Details of interest income, interest expense, and net interest income for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

20. Net Interest Income


(In millions of Korean won)	2025				2024
	Three months		Six months		Three months		Six months
Interest income
Due from financial institutions measured at fair value through profit or loss		662		1,263		644		1,557
Securities measured at fair value through profit or loss		337,972		685,899		350,898		723,162
Loans measured at fair value through profit or loss		14,518		28,045		8,293		11,869
Securities measured at fair value through other comprehensive income		688,284		1,392,334		676,741		1,300,253
Loans measured at fair value through other comprehensive income		17,894		34,805		12,745		25,870
Due from financial institutions measured at amortized cost		83,887		177,467		112,277		205,752
Securities measured at amortized cost		277,068		558,158		313,787		621,716
Loans measured at amortized cost		5,685,638		11,509,443		5,977,628		12,017,621
Insurance finance income		9,157		19,247		7,649		15,592
Others		169,553		332,913		150,653		301,496

		7,284,633		14,739,574		7,611,315		15,224,888

Interest expense
Deposits		2,325,978		4,758,228		2,562,959		5,194,735
Borrowings		556,358		1,125,871		639,554		1,284,667
Debentures		657,793		1,329,319		646,109		1,262,875
Insurance finance expense		373,212		755,354		372,131		749,293
Others		264,766		402,111		164,209		337,080

		4,178,107		8,370,883		4,384,962		8,828,650

Net interest income		3,106,526		6,368,691		3,226,353		6,396,238

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

21. Net Fee and Commission Income

Details of fee and commission income, fee and commission expense, and net fee and commission income for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025				2024
	Three months		Six months		Three months		Six months
Fee and commission income
Banking activity fees		49,654		97,668		47,065		94,528
Lending activity fees		27,257		54,216		30,597		58,790
Credit card and debit card related fees		370,517		768,293		407,331		826,070
Agent activity fees		81,955		141,174		50,976		106,968
Trust and other fiduciary fees		69,531		138,802		72,501		144,938
Fund management related fees		69,137		102,182		34,589		65,128
Acceptances and guarantees fees		21,832		46,601		28,777		51,031
Foreign currency related fees		104,196		205,211		86,245		167,420
Securities agency fees		36,890		70,579		31,025		59,868
Other business account commission on consignment		5,874		18,204		6,795		21,377
Commissions received on securities business		172,408		328,637		147,605		322,069
Lease fees		271,481		544,225		277,287		565,370
Others		166,234		261,407		109,811		243,347

		1,446,966		2,777,199		1,330,604		2,726,904

Fee and commission expense
Trading activity related fees *		12,136		23,045		13,075		25,899
Lending activity fees		10,500		20,945		8,665		17,757
Credit card and debit card related fees		198,209		393,838		203,275		407,904
Outsourcing related fees		36,866		67,026		39,641		73,105
Foreign currency related fees		30,272		64,093		27,504		52,837
Others		127,047		242,268		118,809		239,674

		415,030		811,215		410,969		817,176

Net fee and commission income		1,031,936		1,965,984		919,635		1,909,728

*	Fees from financial instruments at fair value through profit or loss

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

22. Net Gains or Losses on Financial Instruments at Fair Value through Profit or Loss

22.1 Net Gains or Losses on Financial Instruments at Fair Value through Profit or Loss

Net gains or losses on financial instruments at fair value through profit or loss include dividend income, gains or losses arising from changes in fair value, and gains or losses arising from sales and redemptions. Details of net gains or losses on financial instruments at fair value through profit or loss for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


	2025					2024
(In millions of Korean won)	Three months			Six months		Three months			Six months
Gains on financial instruments at fair value through profit or loss
Financial assets at fair value through profit or loss:
Debt securities		1,054,145			2,289,320		930,975			1,803,674
Equity securities		704,306			974,150		265,147			547,560

		1,758,451			3,263,470		1,196,122			2,351,234

Derivatives held for trading:
Interest rate		852,250			2,433,580		344,347			2,690,750
Currency		6,532,815			8,690,861		4,280,955			9,718,683
Stock or stock index		696,783			1,211,010		594,770			1,108,988
Credit		9,981			38,323		15,619			33,378
Commodity		39,783			85,267		16,849			27,713
Others		13,697			68,462		857			24,636

		8,145,309			12,527,503		5,253,397			13,604,148

Financial liabilities at fair value through profit or loss		15,949			85,631		85,409			179,214
Other financial instruments		(745	)		1,675		(1,792	)		51

		9,918,964			15,878,279		6,533,136			16,134,647

Losses on financial instruments at fair value through profit or loss
Financial assets at fair value through profit or loss:
Debt securities		421,611			820,770		185,398			794,535
Equity securities		92,349			245,149		155,671			288,444

		513,960			1,065,919		341,069			1,082,979

Derivatives held for trading:
Interest rate		643,589			2,490,213		410,638			2,456,307
Currency		5,963,524			8,036,526		4,583,910			10,322,259
Stock or stock index		925,589			1,507,482		503,776			1,130,225
Credit		9,489			36,501		14,441			32,573
Commodity		33,553			75,657		9,692			23,392
Others		10,482			24,712		21,060			86,225

		7,586,226			12,171,091		5,543,517			14,050,981

Financial liabilities at fair value through profit or loss		224,402			334,780		116,978			229,920
Other financial instruments		(730	)		1,748		(1,660	)		163

		8,323,858			13,573,538		5,999,904			15,364,043

Net gains on financial instruments at fair value through profit or loss		1,595,106			2,304,741		533,232			770,604

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

22.2 Net Gains or Losses on Financial Instruments Designated at Fair Value through Profit or Loss

Net gains or losses on financial instruments designated at fair value through profit or loss include gains or losses arising from changes in fair value, and gains or losses arising from sales and redemptions. Details of net gains or losses on financial instruments designated at fair value through profit or loss for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025						2024
	Three months			Six months			Three months			Six months
Gains on financial instruments designated at fair value through profit or loss
Financial liabilities designated at fair value through profit or loss		52,986			95,274			54,507			195,304

		52,986			95,274			54,507			195,304

Losses on financial instruments designated at fair value through profit or loss
Financial liabilities designated at fair value through profit or loss		81,947			287,652			266,162			395,198

		81,947			287,652			266,162			395,198

Net losses on financial instruments designated at fair value through profit or loss		(28,961	)		(192,378	)		(211,655	)		(199,894	)

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

23. Net Other Operating Income and Expenses

Details of other operating income and expenses for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025						2024
	Three months			Six months			Three months			Six months
Other operating income
Gains on financial instruments at fair value through other comprehensive income:
Gains on redemption of financial instruments at fair value through other comprehensive income		512			713			2,945			3,916
Gains on disposal of financial instruments at fair value through other comprehensive income		59,471			182,129			30,198			76,526

		59,983			182,842			33,143			80,442

Gains on financial assets at amortized cost:
Gains on sale of loans measured at amortized cost		48,308			101,781			45,015			100,074
Gains on disposal of securities measured at amortized cost		478			756			269			365

		48,786			102,537			45,284			100,439
Gains on hedge accounting		152,023			241,971			84,441			235,876
Gains on foreign exchange transactions		1,883,426			3,200,328			1,168,357			2,562,134
Dividend income		28,629			80,129			14,242			44,033
Others		209,888			403,158			164,199			322,084

		2,382,735			4,210,965			1,509,666			3,345,008

Other operating expenses
Losses on financial instruments at fair value through other comprehensive income:
Losses on redemption of financial instruments at fair value through other comprehensive income		582			777			2			33
Losses on disposal of financial instruments at fair value through other comprehensive income		33,373			58,351			13,475			47,318

		33,955			59,128			13,477			47,351

Losses on financial assets at amortized cost:
Losses on sale of loans measured at amortized cost		151,400			194,793			27,659			30,037

		151,400			194,793			27,659			30,037

Losses on hedge accounting		203,797			318,639			84,118			209,115
Losses on foreign exchanges transactions		2,367,051			3,678,257			890,533			2,108,581
Deposit insurance fee		155,337			308,195			147,274			291,801
Credit guarantee fund fee		104,391			201,355			89,078			171,783
Depreciation expenses of operating lease assets		165,989			333,318			176,469			354,909
Others		506,059			908,948			366,916			821,999

		3,687,979			6,002,633			1,795,524			4,035,576

Net other operating expenses		(1,305,244	)		(1,791,668	)		(285,858	)		(690,568	)

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

24. General and Administrative Expenses

24.1 Details of general and administrative expenses for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025				2024
	Three months		Six months		Three months		Six months
Expenses related to employee
Employee benefits - salaries		710,225		1,406,796		661,658		1,315,281
Employee benefits - others		200,832		424,165		182,141		430,983
Post-employment benefits - defined benefit plans		50,886		94,801		44,325		90,716
Post-employment benefits - defined contribution plans		8,865		18,237		8,059		17,116
Termination benefits		828		2,863		461		2,730
Share-based payments		87,612		81,703		31,770		91,671

		1,059,248		2,028,565		928,414		1,948,497

Depreciation and amortization		223,218		447,130		226,849		443,731

Other general and administrative expenses
Rental expense		22,875		48,269		22,349		43,561
Tax and dues		105,461		191,914		92,414		169,197
Communication		8,606		19,348		11,522		22,734
Electricity and utilities		10,396		23,364		10,529		23,157
Publication		1,504		2,880		1,807		3,533
Repairs and maintenance		9,898		19,049		10,847		20,081
Vehicle		4,693		9,269		4,462		8,725
Travel		4,115		7,349		4,596		8,736
Training		9,843		19,595		9,315		18,036
Service fees		57,097		110,414		56,842		110,843
Electronic data processing expenses		97,606		194,157		86,327		174,592
Advertising		60,694		94,878		57,281		92,599
Others		74,442		139,080		70,337		134,105

		467,230		879,566		438,628		829,899

		1,749,696		3,355,261		1,593,891		3,222,127

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

24.2 Share-based Payments

24.2.1 Stock grants

The Group changed the scheme of share-based payments awarded to executives and employees from stock options to stock grants in November 2007. The stock grants award program is an incentive plan that sets, on grant date, the maximum number of shares that can be awarded. Actual shares to be granted is determined in accordance with achievement of pre-set performance targets over the vesting period.

24.2.1.1 Details of stock grants linked to long-term performance as of June 30, 2025, are as follows:


(In number of shares)	Grant date	Number of granted shares 1		Vesting conditions 2
KB Financial Group Inc.
Series 38	Nov. 21, 2023		55,547	Services fulfillment, market performance 3 35%, and non-market performance 5 65%
Series 39	Jan. 1, 2024		47,839	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 40	Feb. 1, 2024		511	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 41	Apr. 6, 2024		6,450	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 43	Jan. 1, 2025		37,073	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 44	Apr. 7, 2025		5,540	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Deferred grant in 2015			1,063	Satisfied
Deferred grant in 2020			40	Satisfied
Deferred grant in 2022			13,239	Satisfied
Deferred grant in 2023			59,942	Satisfied
Deferred grant in 2024			25,541	Satisfied

			252,785

Kookmin Bank
Series 96	Jan. 1, 2024		214,028	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100% Services fulfillment, market performance 3 30%, and non-market performance 6 70%
Series 97	Feb. 1, 2024		2,045	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 98	Apr. 22, 2024		2,959	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 99	Jul. 05, 2024		4,926	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 101	Aug. 24, 2024		4,453	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 102	Jan. 1, 2025		188,401	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100% Services fulfillment, market performance 3 30%, and non-market performance 6 70%

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

24.2.1.1 Details of stock grants linked to long-term performance as of June 30, 2025, are as follows: (cont’d)


(In number of shares)	Grant date	Number of granted shares 1		Vesting conditions 2
Deferred grant in 2022			29,628	Satisfied
Deferred grant in 2023			93,893	Satisfied
Deferred grant in 2024			118,288	Satisfied

			658,621

Other subsidiaries
Stock granted in 2012			160	Services fulfillment, market performance 3 0~50%, and non-market performance 4 50~100%
Stock granted in 2013			219
Stock granted in 2014			1,028
Stock granted in 2015			1,155
Stock granted in 2017			3,955
Stock granted in 2018			11,044
Stock granted in 2019			13,255
Stock granted in 2020			25,783
Stock granted in 2021			18,692
Stock granted in 2022			79,498
Stock granted in 2023			119,168
Stock granted in 2024			429,364
Stock granted in 2025			207,620

			910,941

			1,822,347

1	Granted shares represent the total number of shares initially granted to executives and employees who have residual shares as of June 30, 2025 (Deferred grants are residual shares vested as of June 30, 2025).

Executives and employees were given the right of choice about the timing of the deferred payment (after the date of retirement), payment ratio, and payment period. Accordingly, a certain percentage of the granted shares is deferred for up to five years after the date of retirement after the deferred grant has been confirmed.

3	Relative TSR (Total Shareholder Return): [(Fair value at the end of the contract—Fair value at the beginning of the contract) + (Total amount of dividend per share paid during the contract period)] / Fair value at the beginning of the contract.

4	Performance results of company and employee

5	EPS (Earnings Per Share), Asset Quality, HCROI (Human Capital Return On Investment), Non-bank segment profit

6	EPS, Asset Quality

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

24.2.1.2 Details of stock grants linked to short-term performance as of June 30, 2025, are as follows:


(In number of shares)	Estimated number of vested shares *		Vesting conditions
KB Financial Group Inc.
Stock granted in 2015		541		Satisfied
Stock granted in 2016		1,558		Satisfied
Stock granted in 2020		78		Satisfied
Stock granted in 2022		14,653		Satisfied
Stock granted in 2023		27,960		Satisfied
Stock granted in 2024		23,462		Satisfied
Stock granted in 2025		8,733		Proportional to service period
Kookmin Bank
Stock granted in 2022		54,465		Satisfied
Stock granted in 2023		118,731		Satisfied
Stock granted in 2024		98,232		Satisfied
Stock granted in 2025		32,828		Proportional to service period
Other subsidiaries
Stock granted in 2015		1,289		Satisfied
Stock granted in 2016		7,290		Satisfied
Stock granted in 2017		20,121		Satisfied
Stock granted in 2018		51,583		Satisfied
Stock granted in 2019		41,130		Satisfied
Stock granted in 2020		48,423		Satisfied
Stock granted in 2021		81,625		Satisfied
Stock granted in 2022		202,086		Satisfied
Stock granted in 2023		409,430		Satisfied
Stock granted in 2024		421,073		Satisfied
Stock granted in 2025		58,257		Proportional to service period

		1,723,548

24.2.1.3 The accrued expenses for share-based payments related to stock grants are 310,342 million and 295,867 million as of June 30, 2025 and December 31, 2024, respectively, and the compensation costs amounting to 96,668 million and 105,588 million were recognized for the six-month periods ended June 30, 2025 and 2024, respectively.

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

24.2.2 Mileage stock

24.2.2.1 Details of mileage stock as of June 30, 2025, are as follows:


(In number of shares)	Grant date		Number of granted shares 1		Expected exercise period (years) 2		Remaining shares 1

Stock granted in 2020
		Aug. 26, 2020		40		0.00~0.15		16
		Oct. 29, 2020		160		0.00~0.33		80
		Nov. 6, 2020		45		0.00~0.35		26
		Nov. 30, 2020		35		0.00~0.42		24
		Dec. 2, 2020		57		0.00~0.42		20
		Dec. 4, 2020		49		0.00~0.43		5
		Dec. 30, 2020		88		0.00~0.50		25
Stock granted in 2021
		Jan. 15, 2021		28,156		0.00~0.54		9,000
		Apr. 15, 2021		89		0.00~0.76		53
		Jul. 1, 2021		54		0.00~1.00		18
		Jul. 2, 2021		11		0.00~1.00		11
		Jul. 27, 2021		70		0.00~1.07		25
		Nov. 1, 2021		71		0.00~1.34		53
		Nov. 16, 2021		53		0.00~1.38		3
		Dec. 3, 2021		91		0.00~1.42		39
		Dec. 6, 2021		87		0.00~1.43		25
		Dec. 30, 2021		76		0.00~1.50		38
Stock granted in 2022
		Jan. 14, 2022		20,909		0.00~1.54		9,477
		Apr. 4, 2022		65		0.00~1.76		33
		Apr. 19, 2022		33		0.00~1.80		20
		Aug. 03, 2022		62		0.00~2.09		6
		Aug. 09, 2022		80		0.00~2.11		17
		Oct. 19, 2022		55		0.00~2.30		5
		Nov. 1, 2022		177		0.00~2.34		81
		Dec. 1, 2022		49		0.00~2.42		48
		Dec. 6, 2022		88		0.00~2.43		8
		Dec. 12, 2022		114		0.00~2.45		48
		Dec. 15, 2022		42		0.00~2.46		26
		Dec. 30, 2022		114		0.00~2.50		25

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

24.2.2.1 Details of mileage stock as of June 30, 2025, are as follows: (cont’d)


(In number of shares)	Grant date	Number of granted shares 1		Expected exercise period (years) 2		Remaining shares 1

Stock granted in 2023
	Jan. 9, 2023		23,071		0.00~2.53		8,627
	Jan. 14, 2023		742		0.00~2.54		313
	Mar. 27, 2023		58		0.00~2.74		50
	Mar. 31, 2023		97		0.00~2.75		39
	May. 4, 2023		105		0.00~2.84		50
	Jul. 3, 2023		63		0.00~3.01		21
	Jul. 26, 2023		38		0.00~3.07		30
	Jul. 31, 2023		220		0.00~3.08		75
	Oct. 20, 2023		80		0.00~3.30		51
	Nov. 1, 2023		78		0.00~3.34		58
	Dec. 1, 2023		49		0.00~3.42		36
	Dec. 13, 2023		115		0.00~3.45		29
	Dec. 14, 2023		57		0.00~3.45		50
	Dec. 27, 2023		19		0.00~3.49		19
	Dec. 28, 2023		162		0.00~3.49		84
	Dec. 29, 2023		95		0.00~3.50		76
Stock granted in 2024
	Jan. 13, 2024		17,523		0.00~3.54		12,101
	Jan. 31, 2024		297		0.00~3.59		244
	Apr. 01, 2024		89		0.00~3.75		65
	Jul. 01, 2024		38		0.00~4.00		38
	Aug. 01, 2024		141		0.00~4.09		141
	Sep. 02, 2024		14		0.00~4.18		11
	Nov. 1, 2024		55		0.00~4.34		55
	Dec. 4, 2024		26		0.00~4.43		26
	Dec. 19, 2024		88		0.00~4.47		88
	Dec. 30, 2024		73		0.00~4.50		73
Stock granted in 2025
	Jan. 11, 2025		11,977		0.00~4.53		11,389
	Feb. 6, 2025		162		0.00~4.61		162
	Apr. 1, 2025		38		0.00~4.75		38
	May. 9, 2025		13		0.00~4.86		13

			106,603				53,307

1	Vested immediately at the grant date and assessed based on the stock price as of June 30, 2025

Mileage stock is exercisable for four years after one year from the grant date at the closing price of the end of the previous month. However, mileage stock can be exercised at the closing price of the end of the previous month on the date of occurrence of retirement or transfer despite a one-year grace period.

24.2.2.2 The accrued expenses for share-based payments related to mileage stock are 5,912 million and 5,067 million as of June 30, 2025 and December 31, 2024, respectively. The compensation costs amounting to 2,557 million and 2,802 million were recognized as expenses for the six-month periods ended June 30, 2025 and 2024, respectively.

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

25. Income Tax Expense

25.1 Details of income tax expense for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Income tax payable
Current income tax expense		935,539			674,421
Adjustments of income tax of prior years recognized in current tax		(64,635	)		6,839

		870,904			681,260

Changes in deferred income tax assets and liabilities		179,158			(304,365	)

Income tax recognized directly in equity and others
Remeasurements of net defined benefit liabilities		(165	)		(4,103	)
Currency translation differences		29,761			(17,651	)
Net gains or losses on financial assets at fair value through other comprehensive income		(209,651	)		124,546
Share of other comprehensive income or loss of associates and joint ventures		819			69
Gains or losses on cash flow hedging instruments		10,831			11,172
Gains or losses on hedging instruments of net investments in foreign operations		(45,553	)		32,719
Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk		3,837			3,904
Insurance finance income		384,406			455,364

		174,285			606,020

Others		(21,302	)		17,444

Income tax expense		1,203,045			1,000,359

26. Dividends

The annual dividends to the shareholders of the Company for the year ended December 31, 2024, amounting to 298,285 million ( 804 per share) were declared at the annual general shareholders’ meeting on March 26, 2025 and paid on April 15, 2025. According to the resolution of the Board of Directors on April 24, 2025, the interim dividends per share of 912 (total dividends: 334,339 million) with dividend record date of May 12, 2025 were paid on May 22, 2025. Meanwhile, the annual dividends to the shareholders of the Parent Company for the year ended December 31, 2023 and quarterly dividend paid in 2024 were 587,006 million ( 1,530 per share) and 899,972 million, respectively.

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

27. Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Beginning			Changes except for reclassifi- cation			Reclassification to profit or loss			Transfer within equity		Tax effect			Ending
Remeasurements of net defined benefit liabilities		(247,241	)		15			—			—		(165	)		(247,391	)
Currency translation differences		809,089			(375,806	)		—			—		29,761			463,044
Gains (losses) on financial instruments at fair value through other comprehensive income		(1,518,990	)		821,964			(58,489	)		6,492		(209,651	)		(958,674	)
Share of other comprehensive loss of associates and joint ventures		(3,153	)		(3,125	)		(22	)		—		819			(5,481	)
Gains (losses) on cash flow hedging instruments		108,318			(283,019	)		241,977			—		10,831			78,107
Gains (losses) on hedging instruments of net investments in foreign operations		(316,109	)		172,547			—			—		(45,553	)		(189,115	)
Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk		(17,314	)		(14,544	)		—			—		3,837			(28,021	)
Finance gains or losses on insurance contract assets (liabilities)		1,682,322			(1,456,084	)		—			—		384,406			610,644

		496,922			(1,138,052	)		183,466			6,492		174,285			(276,887	)

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

27. Accumulated Other Comprehensive Income (Loss) (cont’d)

Changes in accumulated other comprehensive income (loss) for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Beginning			Changes except for reclassifi- cation			Reclassification to profit or loss			Transfer within equity		Tax effect			Ending
Remeasurements of net defined benefit liabilities		(161,295	)		15,587			—			—		(4,103	)		(149,811	)
Currency translation differences		261,752			287,424			—			—		(17,651	)		531,525
Gains (losses) on financial instruments at fair value through other comprehensive income		(2,735,499	)		(416,424	)		(49,361	)		4,744		124,546			(3,071,994	)
Share of other comprehensive loss of associates and joint ventures		(3,318	)		(155	)		—			—		69			(3,404	)
Gains (losses) on cash flow hedging instruments		73,555			75,000			(117,354	)		—		11,172			42,373
Gains (losses) on hedging instruments of net investments in foreign operations		(129,401	)		(123,938	)		—			—		32,719			(220,620	)
Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk		(11,800	)		(14,787	)		—			—		3,904			(22,683	)
Finance gains or losses on insurance contract assets (liabilities)		4,858,650			(1,724,862	)		—			—		455,364			3,589,152

		2,152,644			(1,902,155	)		(166,715	)		4,744		606,020			694,538

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

28. Earnings per Share

28.1 Basic Earnings per Share

Basic earnings per share is calculated by dividing profit attributable to ordinary equity holders of the Parent Company by the weighted average number of ordinary shares outstanding.

28.1.1 Weighted average number of ordinary shares outstanding


(In number of shares)	2025						2024
	Three months			Six months			Three months			Six months
Number of issued ordinary shares		381,462,103			381,462,103			403,511,072			403,511,072
Number of treasury shares *		(17,310,128	)		(17,310,128	)		(24,245,382	)		(24,245,382	)

Weighted average number of ordinary shares outstanding		365,983,134			368,976,986			380,328,992			380,717,562

*	The effective date of treasury shares that were deducted through retirement for the six-month periods ended June 30, 2025, is May 15, 2025.

28.1.2 Basic earnings per share


(In Korean won except for number of shares)	2025
	Three months			Six months
Profit attributable to shareholders of the Parent Company		1,738,421,561,585			3,435,692,965,893
Deduction: Dividends on hybrid securities		(53,684,075,000	)		(103,318,150,000	)

Profit attributable to the ordinary equity holders of the Parent Company (A)		1,684,737,486,585			3,332,374,815,893
Weighted average number of ordinary shares outstanding (B)		365,983,134			368,976,986

Basic earnings per share (A/B)		4,603			9,031


(In Korean won except for number of shares)	2024
	Three months			Six months
Profit attributable to shareholders of the Parent Company		1,732,449,235,357			2,774,431,470,919
Deduction: Dividends on hybrid securities		(52,460,325,000	)		(100,530,650,000	)

Profit attributable to the ordinary equity holders of the Parent Company (A)		1,679,988,910,357			2,673,900,820,919
Weighted average number of ordinary shares outstanding (B)		380,328,992			380,717,562

Basic earnings per share (A/B)		4,417			7,023

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

28.2 Diluted Earnings per Share

Diluted earnings per share is calculated through increasing the weighted average number of ordinary shares outstanding by the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. The Group has dilutive potential ordinary shares such as stock grants and ordinary share exchange right of exchangeable bonds.

A calculation is done to determine the number of shares that could have been acquired at fair value (determined as the average market share price during the period) based on the monetary value of stock grants. The number of shares calculated above is compared with the number of shares that would have been issued assuming the settlement of stock grants.

Exchangeable bonds are included in potential ordinary shares from the exercisable date of the exchange right, and interest expense after tax for the period is added to profit for diluted earnings per share.

28.2.1 Adjusted profit for diluted earnings per share


(In Korean won)	2025
	Three months		Six months
Profit attributable to shareholders of the Parent Company *		1,684,737,486,585		3,332,374,815,893
Adjustments: Interest expense on exchangeable bonds		—		—

Adjusted profit for diluted earnings per share		1,684,737,486,585		3,332,374,815,893


(In Korean won)	2024
	Three months		Six months
Profit attributable to shareholders of the Parent Company *		1,679,988,910,357		2,673,900,820,919
Adjustments: Interest expense on exchangeable bonds		—		306,631,690

Adjusted profit for diluted earnings per share		1,679,988,910,357		2,674,207,452,609

*	The amount is after deducting dividends on hybrid securities.

28.2.2 Weighted average number of ordinary shares outstanding for diluted earnings per share


(In number of shares)	2025				2024
	Three months		Six months		Three months		Six months
Weighted average number of ordinary shares outstanding		365,983,134		368,976,986		380,328,992		380,717,562
Adjustment:
Stock grants		3,055,324		3,367,388		3,472,695		3,750,719
Exchangeable bonds		—		—		—		1,208,791

Adjusted weighted average number of ordinary shares outstanding for diluted earnings per share		369,038,458		372,344,374		383,801,687		385,677,072

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

28.2.3 Diluted earnings per share


(In Korean won except for number of shares)	2025				2024
	Three months		Six months		Three months		Six months
Adjusted profit for diluted earnings per share		1,684,737,486,585		3,332,374,815,893		1,679,988,910,357		2,674,207,452,609
Adjusted weighted average number of ordinary shares outstanding for diluted earnings per share		369,038,458		372,344,374		383,801,687		385,677,072

Diluted earnings per share		4,565		8,950		4,377		6,934

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29. Insurance Contracts

29.1 Insurance Contracts Assets and Liabilities

29.1.1 Details of insurance contract assets and insurance contract liabilities as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)
	June 30, 2025
	Life insurance												Non-life insurance
	Death			Health			Pension		Variables		Compound		Long-term		General		Automobile		Overseas
Insurance contract assets		—			—			—		—		—		313,078		34,195		—		—
Insurance contract liabilities		15,686,566			626,917			7,825,153		6,992,744		—		23,829,748		1,548,560		2,169,375		160,804

Net insurance contract liabilities		15,686,566			626,917			7,825,153		6,992,744		—		23,516,670		1,514,365		2,169,375		160,804

Reinsurance contract assets		426			523			—		—		6,571		499,758		885,330		7,827		127,570
Reinsurance contract liabilities		18,891			17,270			—		—		—		35		27,138		—		—

Net reinsurance contract assets (liabilities)		(18,465	)		(16,747	)		—		—		6,571		499,723		858,192		7,827		127,570

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.1.1 Details of insurance contract assets and insurance contract liabilities as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)
	December 31, 2024
	Life insurance												Non-life insurance
	Death			Health			Pension		Variables		Compound		Long-term		General		Automobile		Overseas
Insurance contract assets		—			—			—		—		—		265,762		10,429		—		—
Insurance contract liabilities		14,687,315			579,725			7,431,564		6,644,117		—		22,838,534		1,327,191		2,145,366		209,889

Net insurance contract liabilities		14,687,315			579,725			7,431,564		6,644,117		—		22,572,772		1,316,762		2,145,366		209,889

Reinsurance contract assets		81			—			—		—		2,442		492,051		831,272		6,953		164,348
Reinsurance contract liabilities		18,022			16,265			—		—		—		122		21,857		—		—

Net reinsurance contract assets (liabilities)		(17,941	)		(16,265	)		—		—		2,442		491,929		809,415		6,953		164,348

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.2 Details of insurance service results for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Life insurance														Non-life insurance								Total
	Death			Health			Pension			Variables			Compound		Long-term		General		Automobile		Overseas		Total
Insurance revenue:
Insurance contracts not applying the premium allocation approach:
Expected insurance claims and expenses		131,010			17,589			27,434			44,552			—		2,463,320		—		—		—		2,683,905
Changes in risk adjustment due to release of risk		8,761			1,354			4,287			3,112			—		100,970		—		—		—		118,484
Changes in contractual service margin recognized in profit or loss for the services provided		134,107			8,538			30,754			48,421			—		423,962		—		—		—		645,782
Recovery of insurance acquisition cash flows		15,887			2,048			15,740			5,740			—		129,388		—		—		—		168,803
Other insurance revenues		(232	)		(186	)		(142	)		(312	)		—		—		—		—		—		(872	)

		289,533			29,343			78,073			101,513			—		3,117,640		—		—		—		3,616,102

Insurance revenue for insurance contracts applying the premium allocation approach		—			—			—			—			—		—		689,604		1,397,143		32,413		2119,160

Total insurance revenue		289,533			29,343			78,073			101,513			—		3,117,640		689,604		1,397,143		32,413		5,735,262

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.2 Details of insurance service results for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2025
	Life insurance														Non-life insurance												Total
	Death			Health			Pension			Variables			Compound		Long-term			General			Automobile			Overseas			Total
Insurance service expenses:
Incurred claims and expenses		(93,293	)		(18,461	)		(22,541	)		(39,851	)		—		(2,526,329	)		(572,117	)		(1,213,144	)		(10,842	)		(4,496,578	)
Amortization of insurance acquisition cash flows		(15,886	)		(2,048	)		(15,740	)		(5,740	)		—		(153,872	)		(78,413	)		(157,303	)		(1,670	)		(430,672	)
Changes in fulfilment cash flows relating to incurred claims		(7,016	)		(2,055	)		(128	)		(2,619	)		—		73,471			9,205			(10,023	)		—			60,835
Losses on onerous contracts and reversals		(2,030	)		(1,634	)		(11,705	)		10,197			—		6,754			252			—			—			1,834
Other insurance service expenses		(618	)		18			6,292			(2,012	)		—		—			—			—			—			3,680

Insurance service expenses for insurance contracts not applying the premium allocation approach		(118,843	)		(24,180	)		(43,822	)		(40,025	)		—		(2,599,976	)		—			—			—			(2,826,846	)
Insurance service expenses for insurance contracts applying the premium allocation approach		—			—			—			—			—		—			(641,073	)		(1,380,470	)		(12,512	)		(2,034,055	)

Total insurance service expenses		(118,843	)		(24,180	)		(43,822	)		(40,025	)		—		(2,599,976	)		(641,073	)		(1,380,470	)		(12,512	)		(4,860,901	)

Reinsurance income:
Recovery of incurred reinsurance claims and expenses		455			945			—			—			1,215		88,843			283,839			727			18,910			394,934
Changes in fulfilment cash flows relating to incurred claims		2,701			226			—			—			27		7,320			5,613			1,526			—			17,413
Recognition and reversal of loss-recovery component		59			120			—			—			195		(3,737	)		168			—			—			(3,195	)

Reinsurance income for reinsurance contracts not applying the premium allocation approach		3,215			1,291			—			—			1,437		90,880			—			—			—			96,823
Reinsurance income for reinsurance contracts applying the premium allocation approach		—			—			—			—			—		1,546			289,620			2,253			18,910			312,329

Total reinsurance income		3,215			1,291			—			—			1,437		92,426			289,620			2,253			18,910			409,152

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.2 Details of insurance service results for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2025
	Life insurance													Non-life insurance												Total
	Death			Health			Pension		Variables		Compound			Long-term			General			Automobile			Overseas			Total
Reinsurance expense:
Reinsurance contracts not applying the premium allocation approach:
Expected recovery of incurred claims and expenses		(716	)		(1,039	)		—		—		(1,163	)		(84,631	)		—			—			—			(87,549	)
Changes in risk adjustment due to release of risk		(101	)		(80	)		—		—		(83	)		(4,377	)		—			—			—			(4,641	)
Changes in Contractual service margin recognized in profit or loss for the services received		(819	)		(379	)		—		—		(1,189	)		(1,538	)		—			—			—			(3,925	)
Experience adjustments on reinsurance premiums for current and past service		504			907			—		—		177			(4,365	)		—			—			—			(2,777	)
Other reinsurance expenses		20			9			—		—		15			—			—			—			—			44

		(1,112	)		(582	)		—		—		(2,243	)		(94,911	)		—			—			—			(98,848	)

Reinsurance expenses for reinsurance contracts applying the premium allocation approach		—			—			—		—		—			(635	)		(289,269	)		(3,868	)		(41,004	)		(334,776	)

Total reinsurance expense		(1,112	)		(582	)		—		—		(2,243	)		(95,546	)		(289,269	)		(3,868	)		(41,004	)		(433,624	)

Total insurance service result		172,793			5,872			34,251		61,488		(806	)		514,544			48,882			15,058			(2,193	)		849,889

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.2 Details of insurance service results for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Life insurance														Non-life insurance								Total
	Death			Health			Pension			Variables			Compound		Long-term		General		Automobile		Overseas		Total
Insurance revenue:
Insurance contracts not applying the premium allocation approach:
Expected insurance claims and expenses		132,012			17,466			20,923			44,684			—		2,245,548		—		—		—		2,460,633
Changes in risk adjustment due to release of risk		9,127			1,362			3,369			2,689			—		86,726		—		—		—		103,273
Changes in Contractual service margin recognized in profit or loss for the services provided		134,582			9,088			24,934			53,293			—		427,074		—		—		—		648,971
Recovery of insurance acquisition cash flows		14,100			1,658			8,437			5,343			—		102,354		—		—		—		131,892
Other insurance revenues		(1,696	)		(278	)		(395	)		(257	)		—		—		—		—		—		(2,626	)

		288,125			29,296			57,268			105,752			—		2,861,702		—		—		—		3,342,143

Insurance revenue for insurance contracts applying the premium allocation approach		—			—			—			—			—		—		670,253		1,397,028		29,397		2,096,678

Total insurance revenue		288,125			29,296			57,268			105,752			—		2,861,702		670,253		1,397,028		29,397		5,438,821

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.2 Details of insurance service results for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Life insurance															Non-life insurance												Total
	Death			Health			Pension			Variables			Compound			Long-term			General			Automobile			Overseas			Total
Insurance service expenses:
Incurred claims and expenses		(94,412	)		(15,230	)		(13,230	)		(37,455	)		—			(2,198,049	)		(369,948	)		(1,206,680	)		(4,369	)		(3,939,373	)
Amortization of insurance acquisition cash flows		(14,100	)		(1,658	)		(8,437	)		(5,343	)		—			(100,617	)		(70,748	)		(163,467	)		(1,420	)		(365,790	)
Changes in fulfilment cash flows relating to incurred claims		(18,614	)		(1,362	)		(2,031	)		(4,136	)		—			166,302			69,866			17,324			—			227,349
Losses on onerous contracts and reversals		819			5,503			64			7,566			—			(33,558	)		480			—			—			(19,126	)
Other insurance service expenses		(1,680	)		(685	)		(3,144	)		(1,419	)		—			—			—			—			—			(6,928	)

Insurance service expenses for insurance contracts not applying the premium allocation approach		(127,987	)		(13,432	)		(26,778	)		(40,787	)		—			(2,165,922	)		—			—			1			(2,374,905	)
Insurance service expenses for insurance contracts applying the premium allocation approach		—			—			—			—			—			—			(370,350	)		(1,352,823	)		(5,790	)		(1,728,963	)

Total insurance service expenses		(127,987	)		(13,432	)		(26,778	)		(40,787	)		—			(2,165,922	)		(370,350	)		(1,352,823	)		(5,789	)		(4,103,868	)

Reinsurance income:
Recovery of incurred reinsurance claims and expenses		579			847			—			—			1,831			56,560			120,143			25			25,342			205,327
Changes in fulfilment cash flows relating to incurred claims		663			173			—			—			(330	)		(20,312	)		(52,371	)		872			—			(71,305	)
Recognition and reversal of loss-recovery component		122			(82	)		—			—			(1,440	)		5,951			134			—			—			4,685

Reinsurance income for reinsurance contracts not applying the premium allocation approach		1,364			938			—			—			61			42,553			—			(1	)		—			44,915
Reinsurance income for reinsurance contracts applying the premium allocation approach		—			—			—			—			—			(354	)		67,906			898			25,342			93,792

Total reinsurance income		1,364			938			—			—			61			42,199			67,906			897			25,342			138,707

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.2 Details of insurance service results for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Life insurance													Non-life insurance												Total
	Death			Health			Pension		Variables		Compound			Long-term			General			Automobile			Overseas			Total
Reinsurance expense:
Reinsurance contracts not applying the premium allocation approach:
Expected recovery of incurred claims and expenses		(598	)		(939	)		—		—		(575	)		(91,807	)		—			—			—			(93,919	)
Changes in risk adjustment due to release of risk		(85	)		(45	)		—		—		(20	)		(4,612	)		—			—			—			(4,762	)
Changes in contractual service margin recognized in profit or loss for the services received		(878	)		51			—		—		125			931			—			—			—			229
Experience adjustments on reinsurance premiums for current and past service		—			—			—		—		—			10,684			—			—			—			10,684
Other reinsurance expenses		11			9			—		—		205			—			—			—			—			225

		(1,550	)		(924	)		—		—		(265	)		(84,804	)		—			—			—			(87,543	)

Reinsurance expenses for reinsurance contracts applying the premium allocation approach		—			—			—		—		—			(1,032	)		(296,155	)		(4,323	)		(49,539	)		(351,049	)

Total reinsurance expense		(1,550	)		(924	)		—		—		(265	)		(85,836	)		(296,155	)		(4,323	)		(49,539	)		(438,592	)

Total insurance service result		159,952			15,878			30,490		64,965		(204	)		652,143			71,654			40,779			(589	)		1,035,068

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.3 Details of insurance finance income and expenses for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Life insurance						Non-life insurance															Total
	Retirement			Variables			Others			Long-term			General and Automobile			Overseas			Others			Total
Investment income (expenses)
Investment income (expenses) recognized in profit or loss:
Net Interest Income (Expense)		6,516			43,780			285,450			304,730			73,094			3,732			(24,551	)		692,751
Dividend income		—			15,945			9,572			7,091			8,381			4			12,287			53,280
Gain (loss) on valuation and disposal of securities		(56	)		420,681			(27,948	)		76,188			22,456			131			15,274			506,726
Gain (loss) on valuation and disposal of loans and other receivables		—			—			—			(68	)		2,560			—			(1,388	)		1,104
Gain (loss) related to derivatives		2,618			17,888			91,684			120,624			124,115			—			—			356,929
Gain (loss) related to investments in subsidiaries		—			—			(334	)		(310	)		—			—			—			(644	)
Foreign exchange gain (loss)		(3,094	)		(66,130	)		(131,599	)		(139,450	)		(131,797	)		11			—			(472,059	)
Other investment income (loss)		(9,184	)		15,992			51,921			(47,589	)		158,149			(323	)		(1,826	)		167,140

		(3,200	)		448,156			278,746			321,216			256,958			3,555			(204	)		1,305,227

Investment income (expenses) recognized in other comprehensive income		4,350			—			294,581			52,808			28,322			677			39,518			420,256

Total investment income (expenses)		1,150			448,156			573,327			374,024			285,280			4,232			39,314			1,725,483

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.3 Details of insurance finance income and expenses for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2025
	Life insurance								Non-life insurance										Total
	Retirement		Variables			Others			Long-term			General and Automobile			Overseas		Others		Total
Insurance finance income (expenses)
Insurance finance income (expenses) recognized in profit or loss:
Net Interest Income (Expense)		—		(446	)		(376,854	)		(353,921	)		(17,436	)		—		—		(748,657	)
Effect of changes in discount rates and financial assumptions		—		—			432			—			—			—		—		432
Effect of exchange rate fluctuations		—		7,832			21,788			—			33,993			—		—		63,613
Changes in the fair value of the underlying assets of insurance contract with direct participation features		—		(448,584	)		—			—			—			—		—		(448,584	)
Other insurance finance income (expenses)		—		—			—			(1,242	)		(30	)		192		—		(1,080	)

		—		(441,198	)		(354,634	)		(355,163	)		16,527			192		—		(1,134,276	)

Insurance finance income (expenses) recognized in other comprehensive income		—		(40	)		(608,799	)		(851,322	)		(6,661	)		—		—		(1,466,822	)

Total insurance finance income (expenses)		—		(441,238	)		(963,433	)		(1,206,485	)		9,866			192		—		(2,601,098	)

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.3 Details of insurance finance income and expenses for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2025
	Life insurance							Non-life insurance										Total
	Retirement		Variables		Others			Long-term			General and Automobile			Overseas		Others		Total
Reinsurance finance income (expenses)
Reinsurance finance income (expenses) recognized in profit or loss:
Net Interest Income (Expense)		—		—		(513	)		8,770			4,293			—		—		12,550
Effect of changes in discount rates and financial assumptions		—		—		—			—			—			—		—		—
Effect of exchange rate fluctuations		—		—		30			—			(42,289	)		—		—		(42,259	)
Other reinsurance finance income (expenses)		—		—		—			2,973			11,530			84		—		14,587

		—		—		(483	)		11,743			(26,466	)		84		—		(15,122	)

Reinsurance finance income (expenses) recognized in other comprehensive income		—		—		4,269			2,424			3,742			—		—		10,435

Total reinsurance finance income (expenses)		—		—		3,786			14,167			(22,724	)		84		—		(4,687	)

Total		1,150		6,918		(386,320	)		(818,294	)		272,422			4,508		39,314		(880,302	)

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.3 Details of insurance finance income and expenses for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Life insurance									Non-life insurance												Total
	Retirement			Variables			Others			Long-term			General and Automobile			Overseas			Others			Total
Investment income (expenses)
Investment income (expenses) recognized in profit or loss:
Net Interest Income (Expense)		6,892			39,690			262,088			283,805			65,232			2,729			(14,235	)		646,201
Dividend income		—			15,506			5,479			5,089			11,019			7			1,413			38,513
Gain (loss) on valuation and disposal of securities		3,177			226,610			21,844			4,513			4,058			(518	)		5,467			265,151
Gain (loss) on valuation and disposal of loans and other receivables		—			—			—			(4,387	)		(7,491	)		—			(346	)		(12,224	)
Gain (loss) related to derivatives		(3,486	)		(23,442	)		(109,206	)		(146,880	)		(135,335	)		—			—			(418,349	)
Gain (loss) related to investments in subsidiaries		—			—			(131	)		(113	)		—			—			—			(244	)
Foreign exchange gain (loss)		2,919			62,832			124,403			139,106			118,286			144			—			447,690
Other investment income (loss)		(12,866	)		15,060			53,646			(37,468	)		143,896			(630	)		7,517			169,155

		(3,364	)		336,256			358,123			243,665			199,665			1,732			(184	)		1,135,893

Investment income (expenses) recognized in other comprehensive income		2,960			—			(107,184	)		(215,141	)		4,024			(151	)		31,943			(283,549	)

Total investment income (expenses)		(404	)		336,256			250,939			28,524			203,689			1,581			31,759			852,344

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.3 Details of insurance finance income and expenses for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Life insurance								Non-life insurance											Total
	Retirement		Variables			Others			Long-term			General and Automobile			Overseas			Others		Total
Insurance finance income (expenses)
Insurance finance income (expenses) recognized in profit or loss:
Net Interest Income (Expense)		—		(644	)		(368,075	)		(370,846	)		(2,427	)		—			—		(741,992	)
Effect of changes in discount rates and financial assumptions		—		—			(2,909	)		—			—			—			—		(2,909	)
Effect of exchange rate fluctuations		—		(7,483	)		(18,645	)		—			(31,823	)		—			—		(57,951	)
Changes in the fair value of the underlying assets of insurance contract with direct participation features		—		(323,593	)		—			—			—			—			—		(323,593	)
Other insurance finance income (expenses)		—		—			—			(1,877	)		(2,089	)		(228	)		—		(4,194	)

		—		(331,720	)		(389,629	)		(372,723	)		(36,339	)		(228	)		—		(1,130,639	)

Insurance finance income (expenses) recognized in other comprehensive income		—		(47	)		(871,471	)		(867,376	)		(2,876	)		—			—		(1,741,770	)

Total insurance finance income (expenses)		—		(331,767	)		(1,261,100	)		(1,240,099	)		(39,215	)		(228	)		—		(2,872,409	)

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

29.3 Details of insurance finance income and expenses for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Life insurance								Non-life insurance										Total
	Retirement			Variables		Others			Long-term			General and Automobile			Overseas		Others		Total
Reinsurance finance income (expenses)
Reinsurance finance income (expenses) recognized in profit or loss:
Net Interest Income (Expense)		—			—		(518	)		7,801			1,008			—		—		8,291
Effect of changes in discount rates and financial assumptions		—			—		—			—			—			—		—		—
Effect of exchange rate fluctuations		—			—		(60	)		—			27,608			—		—		27,548
Other reinsurance finance income (expenses)		—			—		—			791			(9,418	)		72		—		(8,555	)

		—			—		(578	)		8,592			19,198			72		—		27,284

Reinsurance finance income (expenses) recognized in other comprehensive income		—			—		(2,284	)		13,922			3,689			—		—		15,327

Total reinsurance finance income (expenses)		—			—		(2,862	)		22,514			22,887			72		—		42,611

Total		(404	)		4,489		(1,013,023	)		(1,189,061	)		187,361			1,425		31,759		(1,977,454	)

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

30. Statements of Cash Flows

30.1 Details of cash and cash equivalents as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Cash		1,916,113			1,954,624
Checks issued by other banks		263,553			124,366
Due from the Bank of Korea		17,595,115			14,372,352
Due from other financial institutions		14,343,533			13,417,769

		34,118,314			29,869,111

Due from financial institutions measured at fair value through profit or loss		66,069			59,838

		34,184,383			29,928,949

Deduction:
Restricted due from financial institutions*		(3,294,546	)		(4,338,818	)
Due from financial institutions with original maturities over three months		(1,020,676	)		(981,264	)

		(4,315,222	)		(5,320,082	)

		29,869,161			24,608,867

*	Items meeting the definition of cash are excluded.

30.2 Cash inflows and outflows from income tax, interest, and dividends for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	Activities	2025		2024
Income tax paid	Operating		391,612		502,388
Interest received	Operating		14,608,449		14,900,327
Interest paid	Operating		6,842,606		7,420,639
Dividends received	Operating		313,473		229,668
Dividends paid	Financing		735,940		987,623

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

31. Contingent Liabilities and Commitments

31.1 Details of acceptances and guarantees as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Confirmed acceptances and guarantees
Confirmed acceptances and guarantees in Korean won:
Acceptances and guarantees for KB purchasing loan		118,365		152,129
Others		941,670		900,237

		1,060,035		1,052,366

Confirmed acceptances and guarantees in foreign currencies:
Acceptances of letter of credit		299,432		331,423
Letter of guarantees		42,479		45,274
Bid bond		13,047		12,782
Performance bond		1,745,407		1,927,572
Refund guarantees		3,739,299		4,644,429
Others		4,096,813		4,594,667

		9,936,477		11,556,147

Financial guarantee contracts:
Acceptances and guarantees for mortgage		24,209		20,790
Overseas debt guarantees		394,749		588,019
International financing guarantees in foreign currencies		764,365		842,838
Others		325,672		—

		1,508,995		1,451,647

		12,505,507		14,060,160

Unconfirmed acceptances and guarantees
Guarantees of letter of credit		2,798,080		2,268,081
Refund guarantees		1,388,003		1,373,649

		4,186,083		3,641,730

		16,691,590		17,701,890

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

31.2 Details of commitments as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Commitments
Corporate loan commitments		56,103,015		57,510,280
Retail loan commitments		58,945,723		59,100,288
Credit line of credit cards		88,170,609		87,204,864
Purchase of other securities		9,105,958		8,880,563

		212,325,305		212,695,995

Financial guarantee contracts
Credit line		4,349,273		4,747,946
Purchase of securities		834,800		475,147

		5,184,073		5,223,093

		217,509,378		217,919,088

31.3 Other Matters

a) The Group has 112 pending lawsuits as a plaintiff (excluding simple lawsuits related to the collection or management of loans), with aggregate claims amount of 1,746,130 million, and 351 pending lawsuits as a defendant (excluding simple lawsuits related to the collection or management of loans) with aggregate claims amount of 1,298,252 million, which arose in the normal course of the business, as of June 30, 2025. Details of major pending lawsuits in which the Group is a defendant are as follows:

(In number of cases, in millions of Korean won)

Company

Lawsuits

No. of
cases

Amount

Description of the lawsuits

Status of the lawsuits

Kookmin Bank

Request for a return of redemption amount

56,983

Kookmin Bank invested the assets entrusted by OO Invest Trust Management in the Fairfield Sentry Limited and Fairfield Sentry Limited reinvested the assets in Bernard L. Madoff Investment Securities LLC managed by Bernard Madoff. (Bernard L. Madoff Investment Securities LLC is in the liquidation process due to Ponzi scheme fraud-related losses.)

Bankruptcy trustee of Bernard L. Madoff Investment Securities LLC filed a lawsuit against Kookmin Bank seeking to return the amount of redemptions received by Kookmin Bank through Fairfield Sentry Limited.

Application for dismissal by the defendant has been denied, and further proceedings are scheduled. [Related litigation is pending at the New York Southern District Federal Bankruptcy Court (10-3777)]

The financial impact on Kookmin Bank is not significant because the likelihood of winning the lawsuit is high

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

31.3 Other Matters (cont’d)

(In number of cases, in millions of Korean won)

Company

Lawsuits

No. of
cases

Amount

Description of the lawsuits

Status of the lawsuits

Kookmin Bank

Expropriation of long-term leasehold rights

339,100

Kookmin Bank invested assets entrusted by OO Asset Management Co., Ltd. in loans that are directly or indirectly collateralized by long-term leasehold rights of the building and the land (hereinafter referred to as “the real estate in this case”) of Union Station in Washington, D.C., the United States.

The Plaintiff, who is the operator of the railway facility, filed this lawsuit against those concerned with the real estate in this case, including Kookmin Bank, to expropriate the real estate in this case and determine indemnity.

LOGO Stakeholders in the real estate in this case: USI – Holder of the real estate in this case USSM – 100% shareholder of USI at the time the lawsuit was filed KB Kookmin Bank – As the trustee of the relevant fund, invested the fund assets in USI and USSM (loans) and acquired senior liens over the real estate in this case, as well as a pledge on 100% of USI’s shares held by USSM.

On February 5,2025, the Plaintiff, Kookmin Bank, and USI entered into a settlement agreement, excluding USSM from the defendant, in which the fund agreed to receive a settlement amount of USD 505,000,000 and resolve the dispute.

On February 6, 2025, the Plaintiff, Kookmin Bank, and USI jointly submitted a motion to exclude USSM from the defendant and a petition for judgment in accordance with the terms of the settlement to the court.

On March 5,2025, the court ruled to exclude USSM from the defendant.

On March 6, 2025, USSM filed a preliminary appeal.

On March 7, 2025, the court issued a stipulated judgment in accordance with the settlement agreement.

This lawsuit is related to a fund managed by Kookmin Bank, so the financial impact on Kookmin Bank’s proprietary assets is not significant. However, in the case of a loss in an appeal after the fund assets are distributed, the settlement amount or any loss from a separate lawsuit may be subject to recovery.

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

31.3 Other Matters (cont’d)

(In number of cases, in millions of Korean won)

Company

Lawsuits

No. of
cases

Amount

Description of the lawsuits

Status of the lawsuits

Kookmin Bank

Return of unjust enrichment

148,179

As MTS Bank, which was trading with Kookmin Bank through a foreign exchange account, was listed on the SDN (Specifically Designated Nationals) list of the Office of Foreign Assets Control (OFAC) under the U.S. Treasury Department, Kookmin Bank froze the foreign currency account in the name of MTS Bank.

Accordingly, MTS Bank filed a lawsuit seeking the return of the account balance to the Moscow City Commercial Court in Russia.

Responding to local court trial schedule.

Due to compliance with U.S. OFAC regulations, it is difficult to easily predict the likelihood of winning the lawsuit being processed in the Russian courts. However, the lawsuit amount can be covered by the balance in the plaintiff’s account, and a financial impact equivalent to the delayed interest is anticipated for the bank.

Claim for damages

94,468

PT Bank KB Bukopin Tbk requested an auction of TMJ’s shares in order to collect the loan to TMJ (a distressed company); NKLI won the auction and then received a loan from the bank for the purpose of purchasing TMJ shares. NKLI’s intention was to take control over TMJ and launch mining business; however, NKLI was unable to take control and launch the business due to legal disputes with the bankruptcy trustee of TMJ and court-appointed mine management company, and also lost a lawsuit against the mine management company.

As a result, NKLI filed a legal suit to PT Bank KB Bukopin Tbk stating that the bank’s recommendation to purchase TMJ’s shares was inappropriate since the bank did not intentionally share the legal issues and associated risks thereof.

The third trial is in progress and will work with the legal representative to actively respond.

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

31.3 Other Matters (cont’d)

(In number of cases, in millions of Korean won)

Company

Lawsuits

No. of
cases

Amount

Description of the lawsuits

Status of the lawsuits

KB Securities Co., Ltd.

Request for the return of unjust enrichment and transaction amount (Australian fund)

59,927

As an investment broker for a private fund that lends money to a corporation (borrower) investing in Australian disability apartment rental business, KB Securities Co., Ltd. brokered investments of 326,500 million in trust products and funds to individual and institutional investors. However, due to the local Australian borrower’s breach of contract, the fund management was suspended, and related to this, a lawsuit was filed against KB Securities Co., Ltd. for the return of unjust enrichment and transaction amount.

No.1 case: The third trial is in progress (The first trial: On February 7, 2023, a ruling was made to pay the principal investment of 29,800 million and the delayed interest on it. The second trial: On January 29, 2024, the conclusion was different; a ruling was made to pay the principal investment of 12,000 million and the delayed interest on it.)

No. 2 case: The second trial is in progress (The first trial: On February 14, 2024, a ruling was made to pay the principal investment of 12,200 million and the delayed interest on it.)

No. 3 case: The second trial is in progress (The first trial: On October 26, 2023, a ruling was made to pay the remaining principal and interest of 8,460 million and the delayed interest on the principal of 8,290 million . The second trial: On January 16, 2025, a ruling was made to return 4,400 million, which is a portion of the 8,070 million paid in the first trial.)

Meanwhile, the Group has recognized a provision for litigation amounting to 128,405 million in the financial statements in relation to the pending lawsuit in which it is a defendant as of June 30, 2025 (Note 17.5).

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

31.3 Other Matters (cont’d)

b) As of June 30, 2025, there are a total of 13 pending lawsuits related to the wage peak system, amounting to 44,315 million. This includes 8 cases for Kookmin Bank with a total claim amount of 39,541 million, 1 case for KB Securities Co., Ltd. with a claim amount of 2,646 million, 1 case for KB Life Insurance Co., Ltd. with a claim amount of 61 million, 1 case for KB Capital Co., Ltd. with a claim amount of 388 million, 1 case for KB Data System Co., Ltd. with a claim amount of 1,479 million and 1 case for KB Asset Management Co., Ltd. With a claim amount of 200 million. The amount and timing of potential outflows of resources are currently unpredictable.

c) KB Real Estate Trust Co., Ltd. is carrying out the completion guarantee management-type land trust project (17 cases, including Busan Gyeong Bo Industrial Development Co.,Ltd.), that bears responsibility for the completion guarantee when the construction company fails to fulfill responsibility for the completion guarantee and bears responsibility for compensating for damages to lending financial institutions as of June 30, 2025. The total credit line of PF loan related to the completion guarantee management-type land trust project is 1,473,600 million, and the used credit line is 1,078,500 million, including accrued interest, as of June 30, 2025. In this regard, the Group recognized a provision of 9,100 million as of the end of the current interim period to reflect the expected losses associated with the trust accounts arising from the fulfillment of its completion guarantee obligations.

In addition, with respect to potential indemnification liabilities that may arise upon failure to fulfill such obligations, the Group recognized an additional provision of 90,800 million as of the end of the current interim period to reflect the expected losses.

As of the end of the current interim period, there are a total of 12 cases for which the completion guarantee obligations have not been fulfilled within the deadline (2 cases under construction and 10 cases completed). The project finance (PF) loan commitment limit for these cases amounts to 1,090,100 million, and the outstanding balance, including accrued interest, is 848,300 million.

Among these, a total of five projects (1 case under construction and 4 cases completed) are currently under litigation, with six pending cases totaling 90,500 million in dispute. The PF (project finance) loan commitment limit for these projects amounts to 472,600 million, and the outstanding balance, including accrued interest, is 271,300 million.

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

31.3 Other Matters (cont’d)

d) During 2024, the Financial Supervisory Service conducted a regular inspection of the operations of the holding company and its subsidiaries, Kookmin Bank and KB Life Insurance Co., Ltd. The results of the inspection and any required actions will be notified in the future.

e) Kookmin Bank and KB Securities Co., Ltd. is currently under investigation by the Fair Trade Commission regarding the possibility of unfair joint actions by financial institutions. It is impossible to predict the outcome of the investigation.

f) As of June 30, 2025, the tax audits of the subsidiaries, KB Asset Management Co., Ltd., and KB Data Systems Co., Ltd., have been completed. The notified tax amounts for KB Asset Management Co., Ltd. and KB Data Systems Co., Ltd. Has been fully paid.

g) As of June 30, 2025, KB PRASAC BANK PLC. is undergoing a tax audit by the tax authorities. Currently, the impact on KB PRASAC BANK PLC. cannot be predicted.

h) On April 7, 2023, Kookmin Bank entered into a new share subscription agreement with STIC Eugene Star Holdings Inc.(hereinafter referred to as “STIC”), under which STIC will acquire 31,900,000,000 shares at a price of IDR 3.19 trillion, of which Kookmin Bank’s subsidiary, PT Bank KB Bukopin Tbk, will issue. As a result of the agreement, Kookmin Bank will hold a call option to purchase the shares held by the STIC, starting from 2 years and 6 months after the date of acquisition, for a period of 6 months. If Kookmin Bank does not exercise the call option during the designated period, STIC will have the right to sell the acquired shares back to Kookmin Bank, also known as holding a put option right, within 1 year after the expiration of the call option period.

i) As of June 30, 2025, KB Real Estate Trust Co., Ltd. may lend 3,068,000 million to the trust accounts, which is part of the total project cost related to borrowing-type land trust contracts (including maintenance projects). Whether or not KB Real Estate Trust Co., Ltd. will lend to a trust account is not an unconditional payment obligation, and the lending is conducted with consideration of all matters such as the cash flow plan of its own account and trust business.

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

32. Subsidiaries

32.1 Details of major consolidated subsidiaries as of June 30, 2025, are as follows:

Investor

Investee

Ownership
(%)

Location

Date of
financial
statements

Industry

KB Financial Group Inc.

Kookmin Bank

100.00

Korea

Jun. 30

Banking and foreign exchange transaction

KB Kookmin Card Co., Ltd.

100.00

Korea

Jun. 30

Credit card and installment financing

KB Asset Management Co., Ltd.

100.00

Korea

Jun. 30

Collective investment and advisory

KB Capital Co., Ltd.

100.00

Korea

Jun. 30

Financial Leasing

KB Savings Bank Co., Ltd.

100.00

Korea

Jun. 30

Savings banking

KB Real Estate Trust Co., Ltd.

100.00

Korea

Jun. 30

Real estate trust management

KB Investment Co., Ltd.

100.00

Korea

Jun. 30

Capital investment

KB Data System Co., Ltd.

100.00

Korea

Jun. 30

Software advisory, development, and supply

KB Securities Co., Ltd.

100.00

Korea

Jun. 30

Financial investment

KB Insurance Co., Ltd.

100.00

Korea

Jun. 30

Non-life insurance

KB Life Insurance Co., Ltd.

100.00

Korea

Jun. 30

Life insurance

Kookmin Bank

KB PRASAC BANK PLC.

100.00

Cambodia

Jun. 30

Banking and foreign exchange transaction

Kookmin Bank China Ltd.

100.00

China

Jun. 30

Banking and foreign exchange transaction

KB Microfinance Myanmar Co., Ltd.

100.00

Myanmar

Jun. 30

Microfinance services

PT Bank Syariah Bukopin

95.92

Indonesia

Jun. 30

Banking

PT Bukopin Finance

99.24

Indonesia

Jun. 30

Installment financing

KB Bank Myanmar Co., Ltd.

100.00

Myanmar

Jun. 30

Banking and foreign exchange transaction

KB FUND PARTNERS Co., Ltd.

100.00

Korea

Jun. 30

Other financial services

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

32.1 Details of major consolidated subsidiaries as of June 30, 2025, are as follows: (cont’d)

Investor

Investee

Ownership
(%)

Location

Date of
financial
statements

Industry

Kookmin Bank, KB Kookmin Card Co., Ltd., KB Securities Co., Ltd., KB Insurance Co., Ltd., KB Capital Co., Ltd.

PT Bank KB Bukopin, Tbk.

67.57

Indonesia

Jun. 30

Banking and foreign exchange transaction

KBFG Securities America Inc.

100.00

United
States

Jun. 30

Investment advisory and securities trading

KB Securities Hong Kong Ltd.

100.00

China

Jun. 30

Investment advisory and securities trading

KB Securities Vietnam Joint Stock Company

99.81

Vietnam

Jun. 30

Investment advisory and securities trading

KB FINA Joint Stock Company

100.00

Vietnam

Jun. 30

Investment advisory and securities trading

PT KB VALBURY SEKURITAS

65.00

Indonesia

Jun. 30

Investment advisory and securities trading

KB Insurance Co., Ltd.

Leading Insurance Services, Inc.

100.00

United
States

Jun. 30

Management service

KBFG Insurance(China) Co., Ltd.

100.00

China

Jun. 30

Non-life insurance

PT. KB Insurance Indonesia

70.00

Indonesia

Jun. 30

Non-life insurance

KB Claims Survey & Adjusting

100.00

Korea

Jun. 30

Claim service

KB Sonbo CNS

100.00

Korea

Jun. 30

Management service

KB Healthcare Co., Ltd.

100.00

Korea

Jun. 30

Information and communication

KB Life Insurance Co., Ltd.

KB Life Partners Co., Ltd.

100.00

Korea

Jun. 30

Insurance agent

KB Golden Life Care Co., Ltd.

100.00

Korea

Jun. 30

Service

KB Kookmin Card Co., Ltd.

KB Credit Information Co., Ltd.

100.00

Korea

Jun. 30

Collection of receivables or credit investigation

KB Daehan Specialized Bank Plc.3

97.50

Cambodia

Jun. 30

Specialized Credit Finance

PT. KB Finansia Multi Finance

80.00

Indonesia

Jun. 30

Specialized Credit Finance

KB J Capital Co., Ltd.

77.40

Thailand

Jun. 30

Specialized Credit Finance

KB Capital Co., Ltd.

PT Sunindo Kookmin Best Finance

85.00

Indonesia

Jun. 30

Auto Installment finance

KB Fintech Co., Ltd.4

95.95

Korea

Jun. 30

E-commerce

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

32.1 Details of major consolidated subsidiaries as of June 30, 2025, are as follows: (cont’d)

Investor

Investee

Ownership
(%)

Location

Date of
financial
statements

Industry

KB Kookmin Card Co., Ltd., KB Capital Co., Ltd.

KB KOLAO Leasing Co., Ltd.

80.00

Laos

Jun. 30

Auto Installment finance

Kookmin Bank, KB Data System Co., Ltd.

PT KB Data Systems Indonesia

100.00

Indonesia

Jun. 30

Service

KB Asset Management Co., Ltd.

KBAM Shanghai Advisory Services Co., Ltd.

100.00

China

Jun. 30

General advisory

PT KB Valbury Capital Management 2

70.00

Indonesia

Jun. 30

Collective investment

KB Asset Management Singapore PTE. LTD.

100.00

Singapore

Jun. 30

Collective investment

1	Among the ownership in PT Bank KB Bukopin, Tbk., 0.05% (100,000,000 shares) is no-voting shares with no-dividends.

2	In January 2024, PT Valbury Capital Management was changed from a subsidiary of KB Securities Co., Ltd. to a subsidiary of KB Asset Management Co., Ltd., and its name was changed to PT KB Valbury Asset Management during the second quarter.

3	KB DAEHAN SPECIALIZED BANK PLC. (merging entity) merged with i-Finance Leasing PLC.(merged entity) on December 19, 2024.

4	On October 14, 2024, Teamwink Co., Ltd. changed its name to KB Fintech Co., Ltd.

32.2 Details of consolidated structured entities as of June 30, 2025, are as follows:


	Consolidated structured entities	Reasons for consolidation
Trusts	Kookmin Bank (development trust) and 10 others	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.

Asset-backed securitization	Taejon Samho The First Co., Ltd. and 77 others	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 or ABCP purchase commitments or acquiring subordinated debt and has ability to affect those returns through its power.

Investment funds and others	KB Global Platform Fund No.2 and 222 others	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.

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

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.

32.3 Condensed financial information of major subsidiaries as of June 30, 2025 and December 31, 2024 and for the six-month periods ended June 30, 2025 and 2024, are as follows:

(In millions of Korean won)


	June 30, 2025						2025
	Assets		Liabilities		Equity		Operating revenue		Profit (loss) attributable to shareholders of the Parent Company			Total compre- hensive income (loss) attributable to shareholders of the Parent Company
Kookmin Bank 1		574,607,113		536,054,412		38,552,701		24,981,037		2,187,605			1,040,854
KB Securities Co., Ltd. 1,2		71,121,901		64,225,870		6,896,031		6,199,092		338,865			312,227
KB Insurance Co., Ltd. 1,2		42,708,754		37,204,485		5,504,269		7,077,298		558,141			10,436
KB Kookmin Card Co., Ltd. 1		29,363,141		23,912,166		5,450,975		2,196,970		181,269			154,386
KB Life Insurance Co., Ltd. 1,2		35,770,127		32,946,847		2,823,280		1,703,309		116,477			(108,483	)
KB Asset Management Co., Ltd. 1		443,861		98,023		345,838		176,094		71,542			70,637
KB Capital Co., Ltd. 1,2		18,035,227		15,463,996		2,571,231		1,381,854		124,142			124,066
KB Real Estate Trust Co., Ltd.		1,156,080		699,009		457,071		121,088		(21,865	)		(21,867	)
KB Savings Bank Co., Ltd.		2,355,610		2,172,293		183,317		101,197		922			904
KB Investment Co., Ltd. 1		1,497,257		1,210,354		286,903		99,138		2,989			2,963
KB Data System Co., Ltd. 1		69,279		42,803		26,476		140,180		4,566			4,438

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

32.3 Condensed financial information of major subsidiaries as of June 30, 2025 and December 31, 2024 and for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)

(In millions of Korean won)


	December 31, 2024						2024
	Assets		Liabilities		Equity		Operating revenue		Profit (loss) attributable to shareholders of the Parent Company			Total compre- hensive income (loss) attributable to shareholders of the Parent Company
Kookmin Bank 1		562,887,180		524,859,860		38,027,320		26,225,673		1,505,858			1,485,238
KB Securities Co., Ltd. 1,2		63,384,389		56,498,405		6,885,984		5,648,105		376,131			393,044
KB Insurance Co., Ltd. 1,2		40,776,375		34,982,351		5,794,024		6,289,059		571,952			(102,894	)
KB Kookmin Card Co., Ltd. 1		30,541,628		25,236,827		5,304,801		2,200,787		255,715			272,230
KB Life Insurance Co., Ltd. 1,2		34,047,554		30,984,400		3,063,154		1,527,315		152,081			(793,835	)
KB Asset Management Co., Ltd. 1		414,942		120,224		294,718		109,072		33,811			34,370
KB Capital Co., Ltd. 1,2		18,115,495		15,654,177		2,461,318		1,294,727		137,173			137,152
KB Real Estate Trust Co., Ltd.		1,113,466		627,898		485,568		67,103		(105,786	)		(105,794	)
KB Savings Bank Co., Ltd.		2,575,739		2,393,523		182,216		126,375		3,178			3,136
KB Investment Co., Ltd. 1		1,529,823		1,245,883		283,940		102,812		4,235			4,262
KB Data System Co., Ltd. 1		62,270		40,219		22,051		117,862		832			920

1	Financial information is based on its consolidated financial statements.

2	Includes fair value adjustments arising from the acquisition.

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

32.4 The Characteristics of Risks Associated with Consolidated Structured Entities

The terms of contractual arrangements to provide financial support to consolidated structured entities are as follows:

32.4.1 The Group has provided payment guarantees of 4,124,213 million to KBD TOWER 1ST LLC and other consolidated structured entities

32.4.2 The Group has provided capital commitment to 75 consolidated structured entities including KB Sinansan Line Private Special Asset Fund (SOC). The unexecuted amount of the capital commitment is 1,971,959 million. Based on the capital commitment, the Group is subject to increase its investment upon the request of the asset management company or the additional agreement among investors.

32.4.3 The Group has provided the guarantees of payment of principal, or principal and fixed rate of return in case the operating results of the trusts are less than the guaranteed principal, or principal and fixed rate of return.

32.5 Changes in Subsidiaries

32.5.1 Subsidiaries newly included in consolidation for the six-month period ended June 30, 2025, are as follows:


Company		Reasons of obtaining control
iM Asset General Private Securities Investment Trust NO.55 and 7 others		Holding a majority ownership interests

KB Great On 1st. LLC and 18 others.		Has power over relevant activities in the event of default and is exposed to significant variable returns by providing lines of credit or ABCP purchase commitments or acquiring subordinated debt

KB HL Infra Private Special Asset Fund 1(FoFs) and 21 others.		Holds the power to determine the operation of the funds and is exposed to variable returns by holding significant amount of ownership interests

32.5.2 Subsidiaries excluded from consolidation for the six-month period ended June 30, 2025, are as follows:


Company		Reasons of losing control
Able Eunhwasam 2nd Co., Ltd. and 15 others.		Termination of the commitments

KB High-Tech Company Investment Fund and 12 others.		Liquidation

Black Sapphire Holdings Co., Ltd.		Disposal

KB RISE Global AI Value Chain ETF MoaDream Securities Fund (FoFs) and 9 others.		Decrease in ownership interests to less than majority

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June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33. Related Party Transactions

According to Korean IFRS No.1024, the Group includes investments in associates, key management personnel (including family members), and post-employment benefit plans of the Group and its related party companies in the scope of related parties. The Group discloses balances (receivables and payables) and other amounts arising from transactions with related parties in the notes to the consolidated financial statements.

33.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows:

(In millions of Korean won)


		2025		2024
Associates and joint ventures
Balhae Infrastructure Company	Fee and commission income		3,025		2,613
Korea Credit Bureau Co., Ltd.	Interest expense		2		—
	Fee and commission income		341		370
	Fee and commission expense		6,249		4,839
	Insurance income		2		2
	Reversal of credit losses		—		2
	Other operating expenses		5		6
Incheon Bridge Co., Ltd.	Interest income		4,382		5,424
	Interest expense		362		416
	Fee and commission income		21		17
	Fee and commission expense		6		5
	Insurance income		118		108
	Gains on financial instruments at fair value through profit or loss		144		241
	Reversal of credit losses		2		5
Aju Good Technology Venture Fund	Interest expense		—		2
Star-Lord General Investors Private Real Estate Investment Company No.10	Insurance income		50		63
	Interest income		2,441		2,954
	Interest expense		290		163
	Provision for credit losses		1		—
	General and administrative expenses		5,739		4,507
	Other income		917		—
	Other expense		59		—
Food Factory Co., Ltd.	Interest income		23		24
	Insurance income		2		1
	Losses on financial instruments at fair value through profit or loss		—		238
	Provision for credit losses		1		—

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)

(In millions of Korean won)


		2025			2024
POSCO-KB Shipbuilding Fund	Fee and commission income		(34	)		—
Big Dipper Co., Ltd.	Fee and commission expense		138			142
	Reversal of credit losses		2			—
KB-TS Technology Venture Private Equity Fund	Fee and commission income		84			89
KB-SJ Tourism Venture Fund	Fee and commission income		254			206
Banksalad Co., Ltd.	Gains on financial instruments at fair value through profit or loss		443			—
	Losses on financial instruments at fair value through profit or loss		—			4,670
	Fee and commission income		25			18
	Fee and commission expense		—			3
Bioprotect Ltd.	Gains on financial instruments at fair value through profit or loss		—			511
	Losses on financial instruments at fair value through profit or loss		366			—
RMGP Bio-Pharma Investment Fund, L.P.	Fee and commission income		7			30
	Gains on financial instruments at fair value through profit or loss		—			489
	Losses on financial instruments at fair value through profit or loss		3,547			519
RMGP Bio-Pharma Investment, L.P.	Gains on financial instruments at fair value through profit or loss		—			2
	Losses on financial instruments at fair value through profit or loss		2			—
KB-MDI Centauri Fund LP	Fee and commission income		193			211
	Gains on financial instruments at fair value through profit or loss		203			1,470
	Losses on financial instruments at fair value through profit or loss		1,575			1,000
Hibiscus Fund LP	Fee and commission income		142			309
	Gains on financial instruments at fair value through profit or loss		1,155			861
	Losses on financial instruments at fair value through profit or loss		380			—
RMG-KB BP Management Ltd.	Gains on financial instruments at fair value through profit or loss		—			15
	Losses on financial instruments at fair value through profit or loss		28			—
RMG-KB BioAccess Fund L.P.	Fee and commission income		177			169
	Gains on financial instruments at fair value through profit or loss		—			199
	Losses on financial instruments at fair value through profit or loss		1,361			808
S&E Bio Co., Ltd.	Interest income		37			6
	Interest expense		3			4
	Provision for credit losses		—			17

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)

(In millions of Korean won)


		2025			2024
Contents First Inc.	Interest income		192			280
	Interest expense		8			18
	Fee and commission income		—			1
	Losses on financial instruments at fair value through profit or loss		98			—
	Provision for credit losses		14			29
Pin Therapeutics Inc.	Interest expense		107			—
	Provision for credit losses		—			7
	Reversal of credit losses		1			—
Wyatt Corp. *	Gains on financial instruments at fair value through profit or loss		1,152			—
	Insurance income		40			57
KB-Brain KOSDAQ Scale-up New Technology Business Investment Fund *	Interest expense		—			4
Spark Biopharma Inc.	Interest expense		47			177
	Provision for credit losses		—			13
	Reversal of credit losses		2			—
	Gains on financial instruments at fair value through profit or loss		173			—
	Losses on financial instruments at fair value through profit or loss		69			—
Skydigital Inc.	Fee and commission income		1			1
KB No.21 Special Purpose Acquisition Company *	Gains on financial instruments at fair value through profit or loss		—			277
	Interest expense		(1	)		38
KB No.22 Special Purpose Acquisition Company *	Gains on financial instruments at fair value through profit or loss		—			41
	Interest expense		—			1
KB No.25 Special Purpose Acquisition Company	Interest expense		19			26
	Gains on financial instruments at fair value through profit or loss		75			375
KB No.26 Special Purpose Acquisition Company *	Interest expense		(29	)		27
	Gains on financial instruments at fair value through profit or loss		—			311
	Losses on financial instruments at fair value through profit or loss		145			—
KB No.27 Special Purpose Acquisition Company	Interest expense		74			82
	Gains on financial instruments at fair value through profit or loss		232			120
KB No.28 Special Purpose Acquisition Company	Interest expense		9			19
	Fee and commission income		—			175
	Gains on financial instruments at fair value through profit or loss		96			1,147

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)

(In millions of Korean won)


		2025		2024
KB No.29 Special Purpose Acquisition Company	Fee and commission income		—		210
	Gains on financial instruments at fair value through profit or loss		101		1,598
	Interest expense		26		14
KB No.30 Special Purpose Acquisition Company	Interest expense		20		—
	Gains on financial instruments at fair value through profit or loss		86		—
KB No.31 Special Purpose Acquisition Company	Gains on financial instruments at fair value through profit or loss		141		—
	Interest expense		25		—
KB SPROTT Renewable Private Equity Fund No.1	Fee and commission income		39		80
KB-Stonebridge Secondary Private Equity Fund	Fee and commission income		160		203
COSES GT Co., Ltd. *	Gains on financial instruments at fair value through profit or loss		—		20
TeamSparta Inc. *	Fee and commission income		3		51
	Provision for credit losses		—		2
	Interest expense		87		75
Newavel Co., Ltd.	Fee and commission income		1		—
SuperNGine Co., Ltd.	Interest income		20		20
	Provision for credit losses		—		36
	Reversal of credit losses		19		—
Desilo Inc.	Interest income		7		7
Turing Co., Ltd.	Interest expense		—		23
	Interest income		21		42
ZIPDOC Inc. *	Losses on financial instruments at fair value through profit or loss		—		1,209
Grinergy Co., Ltd.	Gains on financial instruments at fair value through profit or loss		307		516
	Losses on financial instruments at fair value through profit or loss		—		216
Chabot Mobility Co., Ltd. *	Fee and commission income		1		1
	Interest expense		5		—
	Fee and commission expense		1,109		1,276
	Gains on financial instruments at fair value through profit or loss		—		417
Wemade Connect Co., Ltd.	Insurance income		3		1
	Interest expense		93		155
	Reversal of credit losses		2		—
	Provision for credit losses		—		20
	Gains on financial instruments at fair value through profit or loss		1,492		—
	Losses on financial instruments at fair value through profit or loss		—		4,562

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)

(In millions of Korean won)


		2025		2024
TMAP Mobility Co., Ltd.	Interest expense		1,192		1,549
	Fee and commission income		1		3
	Fee and commission expense		451		389
	Insurance income		1,433		258
Nextrade Co., Ltd.	Fee and commission income		1		—
	Interest expense		374		1,418
WJ Private Equity Fund No.1	Fee and commission income		3		3
UPRISE, Inc.	Gains on financial instruments at fair value through profit or loss		104		—
	Losses on financial instruments at fair value through profit or loss		95		4,056
Channel Corporation	Interest expense		—		10
	Losses on financial instruments at fair value through profit or loss		280		—
	Gains on financial instruments at fair value through profit or loss		7,673		2,266
CWhy Inc. *	Insurance income		—		4
CellinCells Co., Ltd. *	Provision for credit losses		1		4
KB Social Impact Investment Fund	Fee and commission income		100		135
KB-UTC Inno-Tech Venture Fund	Fee and commission income		63		124
KB-NAU Special Situation Corporate Restructuring Private Equity Fund	Fee and commission income		402		322
2020 KB Fintech Renaissance Fund	Fee and commission income		59		73
KB Material and Parts No.1 PEF *	Fee and commission income		—		175
FineKB Private Equity Fund No.1	Fee and commission income		220		279
	Gains on financial instruments at fair value through profit or loss		32		32
Paramark KB Fund No.1	Fee and commission income		75		64
KB-Badgers Future Mobility ESG Fund No.1	Fee and commission income		629		646
	Gains on financial instruments at fair value through profit or loss		1		1
KB-KTB Technology Venture Fund	Fee and commission income		209		182
Bluepointpartners Inc.	Gains on financial instruments at fair value through profit or loss		—		30
	Losses on financial instruments at fair value through profit or loss		20		—
KB-Solidus Global Healthcare	Fee and commission income		—		17
	Gains on financial instruments at fair value through profit or loss		3,300		700
ASSEMBLE CORPORATION	Interest income		65		53
	Fee and commission income		—		1
	Insurance income		1		1
	Provision for credit losses		—		1
	Reversal of credit losses		1		26
KB Cape No.1 Private Equity Fund *	Fee and commission income		—		37
	Gains on financial instruments at fair value through profit or loss		—		82
KB-GeneN Medical Venture Fund No.1	Fee and commission income		44		44

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)

(In millions of Korean won)


		2025			2024
KB-BridgePole Venture Investment Fund No.2	Fee and commission income		52			52
KB-Kyobo New Mobility Power Fund *	Fee and commission income		—			39
KB Co-Investment Private Equity Fund No.1	Fee and commission income		948			581
KB-NP Green ESG New Technology Venture Capital Fund	Fee and commission income		507			595
KB-FT Green Growth 1st Technology Investment Association	Fee and commission income		67			67
	Interest expense		—			12
Spoonlabs Co., Ltd. *	Losses on financial instruments at fair value through profit or loss		—			1,104
Gushcloud Talent Agency	Gains on financial instruments at fair value through profit or loss		—			285
	Losses on financial instruments at fair value through profit or loss		—			58
KB-SUSUNG 1st Investment Fund	Fee and commission income		82			96
KB-SUSUNG 2nd Investment Fund	Fee and commission income		75			1
Seokwang T&I Co., Ltd	Insurance income		1			1
3D Interactive Co., Ltd.	Fee and commission income		—			1
	Provision for credit losses		—			2
	Reversal of credit losses		1			—
Bigwave Robotics Corp.	Fee and commission income		—			1
	Interest expense		(5	)		—
	Provision for credit losses		7			—
	Gains on financial instruments at fair value through profit or loss		1,368			—
U-KB Credit No.1S Private Equity	Fee and commission income		480			481
KY Global Cell & Gene Private Equity Fund 2nd *	Interest expense		—			(38	)
KB-SOLIDUS Healthcare Investment Fund	Fee and commission income		426			400
AKK Robotech Valueup New Technology Investment Fund	Fee and commission income		50			39
New Daegu Busan Expressway Co., Ltd.	Interest income		346			1,533
	Reversal of credit losses		—			3
	Interest expense		1,468			2,115
	Insurance income		202			85
AIM FUTURE, Inc.	Interest income		21			22
	Interest expense		—			39
	Provision for credit losses		—			3
ADP Holdings Co., Ltd.	Interest expense		31			26

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)

(In millions of Korean won)


		2025		2024
ADPGREEN	Interest expense		42		5
	Provision for credit losses		—		11
	Reversal of credit losses		5		—
	Insurance income		87		—
KB-CJ Venture Fund 1st	Fee and commission income		74		5
OKXE Inc.	Gains on financial instruments at fair value through profit or loss		—		1,412
Ascent Global Fund III	Gains on financial instruments at fair value through profit or loss		—		54
	Losses on financial instruments at fair value through profit or loss		291		—
Elev8-Capital Fund I	Gains on financial instruments at fair value through profit or loss		—		612
	Losses on financial instruments at fair value through profit or loss		1,800		—
H Energy Co., Ltd *	Gains on financial instruments at fair value through profit or loss		—		2,675
XL8 INC.	Gains on financial instruments at fair value through profit or loss		—		398
	Losses on financial instruments at fair value through profit or loss		454		—
SDT Inc.	Interest expense		—		13
	Losses on financial instruments at fair value through profit or loss		334		17
DYNE MEDICAL GROUP Inc.	Interest income		29		—
	Interest expense		30		66
	Insurance income		2		1
	Reversal of credit losses		1		—
Bitgoeul Cheomdan Green 1st Co., Ltd.	Interest expense		1		1
Logpresso Inc.	Interest expense		1		2
Onheal Co., Ltd.	Interest expense		—		(21	)
TriOar Inc.	Interest expense		56		137
KB-VEP Contact Fund	Fee and commission income		30		14
SD Speed Co.,Ltd.	Insurance income		1		—
Xpanner Inc.	Insurance income		1		—
	Gains on financial instruments at fair value through profit or loss		573		—
	Losses on financial instruments at fair value through profit or loss		453		—
KB-Cyrus Tourism Venture Fund	Fee and commission income		169		—
FineKB Private Equity Fund No.2	Fee and commission income		69		—
MitoImmune Therapeutics	Losses on financial instruments at fair value through profit or loss		1,574		—
KB Rejuvenation Fund	Fee and commission income		74		—
Allra Fintech Corp.	Provision for credit losses		2		—
	Interest expense		4		—
Yeoulhyulgangho	Interest expense		2		—

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)

(In millions of Korean won)


		2025		2024
E&I Holdings*	Fee and commission income		3,446		—
KB-IMM New Star Real Estate Private Fund I	Fee and commission income		227		—
Xenohelix Co., Ltd.	Interest income		13		—
	Provision for credit losses		8		—
Koru Pharma Co., Ltd.	Insurance income		1		—
WhaTap Laps Inc.	Gains on financial instruments at fair value through profit or loss		222		—
	Interest expense		60		—
Streami Inc.	Gains on financial instruments at fair value through profit or loss		283		—
IMBiologics Corp.	Provision for credit losses		1		—
	Gains on financial instruments at fair value through profit or loss		3,055		—
KB-LB Middle Market Enterprises Innovation Private Equity Fund	Fee and commission income		595		—
Semicolon Susong REITs Co., Ltd.	Fee and commission income		4,793		—
	Interest income		78		—
	Insurance income		5		—
	Provision for credit losses		5		—
KB-Novus Genesis Private Equity Fund	Fee and commission income		17		—
Novorex Inc.	Provision for credit losses		6		—
KB No.32 Special Purpose Acquisition Company	Interest expense		12		—
KB No.33 Special Purpose Acquisition Company	Interest expense		1		—
Al Spera Inc.	Interest expense		26		—
Aldaver	Interest expense		13		—
ANTIGRAVITY	Interest income		1		—
	Provision for credit losses		1		—
enParticle Co., Ltd	Interest expense		2		—
Emocog Inc.	Interest expense		29		—
Lemontree Inc.	Fee and commission income		58		—
	Fee and commission expense		17		—
	Provision for credit losses		2		—
Retirement pension	Fee and commission income		774		858
	Interest expense		13		23

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)		June 30, 2025		December 31, 2024
Associates and joint ventures
Balhae Infrastructure Company	Other assets		1,557		1,431
Korea Credit Bureau Co., Ltd.	Loans measured at amortized cost (gross amount)		155		36
	Deposits		4,878		40,570
	Insurance liabilities		3		1
Incheon Bridge Co., Ltd.	Financial assets at fair value through profit or loss		35,555		35,411
	Loans measured at amortized cost (gross amount)		64,764		70,012
	Allowances for credit losses		29		31
	Other assets		353		389
	Deposits		65,270		43,867
	Provisions		40		40
	Insurance liabilities		227		89
	Other liabilities		100		442
Jungdo Co., Ltd.	Deposits		4		4
Aju Good Technology Venture Fund	Deposits		39		1,809
Star-Lord General Investors Private Real Estate Investment Company No.10	Loans measured at amortized cost (gross amount)		149,450		149,898
	Allowances for credit losses		6		5
	Property and equipment		33,208		4,356
	Other assets		8,272		8,860
	Insurance liabilities		73		35
	Other liabilities		32,701		5,107
WJ Private Equity Fund No.1	Other assets		2		2
	Deposits		39		46
RAND Bio Science Co., Ltd. *	Deposits		—		4
Food Factory Co., Ltd.	Loans measured at amortized cost (gross amount)		2,099		1,764
	Allowances for credit losses		2		1
	Other assets		7		4
	Deposits		892		907
	Insurance liabilities		6		8
	Other liabilities		—		1
POSCO-KB Shipbuilding Fund	Other liabilities		34		—
Big Dipper Co., Ltd.	Loans measured at amortized cost (gross amount)		22		43
	Allowances for credit losses		1		3
	Deposits		72		123
	Other liabilities		10		8
KB-KDBC Pre-IPO New Technology Business Investment Fund	Deposits		3,554		39
Iwon Alloy Co., Ltd.	Deposits		—		2

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)		June 30, 2025		December 31, 2024
RMGP Bio-Pharma Investment Fund, L.P.	Financial assets at fair value through profit or loss		2,796		7,205
	Other assets		4		—
	Other liabilities		—		3
RMGP Bio-Pharma Investment, L.P.	Financial assets at fair value through profit or loss		21		25
Wyatt Corp. *	Financial assets at fair value through profit or loss		—		3,000
	Deposits		—		1
	Insurance liabilities		—		78
Skydigital Inc.	Deposits		4		30
Banksalad Co., Ltd.	Financial assets at fair value through profit or loss		2,501		2,059
Spark Biopharma Inc.	Financial assets at fair value through profit or loss		4,738		4,634
	Loans measured at amortized cost (gross amount)		8		15
	Deposits		2,564		4,759
	Other liabilities		8		22
	Allowances for credit losses		4		7
	Provisions		7		6
UPRISE, Inc.	Financial assets at fair value through profit or loss		1,826		1,817
Stratio, Inc.	Financial assets at fair value through profit or loss		1,000		1,000
HonestAl Co., LTD.	Financial assets at fair value through profit or loss		442		442
CellinCells Co., Ltd. *	Financial assets at fair value through profit or loss		—		2,000
	Loans measured at amortized cost (gross amount)		4		1
	Allowances for credit losses		2		—
	Deposits		—		13
	Provisions		1		1
Channel Corporation	Financial assets at fair value through profit or loss		14,300		20,141
	Deposits		5		6
KB No.21 Special Purpose Acquisition Company *	Financial assets at fair value through profit or loss		—		3,122
	Deposits		—		2,247
	Other liabilities		—		36
KB No.25 Special Purpose Acquisition Company	Financial assets at fair value through profit or loss		1,925		1,850
	Deposits		1,605		1,545
	Other liabilities		1		39
KB No.26 Special Purpose Acquisition Company *	Financial assets at fair value through profit or loss		2,006		2,150
	Deposits		—		1,763
	Other liabilities		—		31

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)		June 30, 2025		December 31, 2024
KB No.27 Special Purpose Acquisition Company	Financial assets at fair value through profit or loss		6,109		5,877
	Deposits		4,562		4,613
	Other liabilities		129		55
KB No.28 Special Purpose Acquisition Company	Financial assets at fair value through profit or loss		2,208		2,113
	Deposits		220		1,910
	Other liabilities		—		45
KB No.29 Special Purpose Acquisition Company	Financial assets at fair value through profit or loss		3,116		3,015
	Deposits		2,359		2,338
	Other liabilities		12		43
KB No.30 Special Purpose Acquisition Company	Financial assets at fair value through profit or loss		2,922		2,835
	Deposits		1,764		1,786
	Other liabilities		41		20
KB No.31 Special Purpose Acquisition Company	Financial assets at fair value through profit or loss		4,442		4,301
	Deposits		2,276		2,352
	Other liabilities		38		13
KB No.32 Special Purpose Acquisition Company	Deposits		2,355		—
	Other liabilities		12		—
KB No.33 Special Purpose Acquisition Company	Financial assets at fair value through profit or loss		2,090		—
	Deposits		2,988		—
	Other liabilities		1		—
MitoImmune Therapeutics	Financial assets at fair value through profit or loss		—		1,574
Bioprotect Ltd.	Financial assets at fair value through profit or loss		5,299		4,628
ASSEMBLE CORPORATION	Financial assets at fair value through profit or loss		4,000		4,000
	Loans measured at amortized cost (gross amount)		2,026		2,021
	Allowances for credit losses		43		43
	Other assets		7		11
	Deposits		18		18
	Other liabilities		1		1
	Provisions		1		1
	Insurance liabilities		2		1
SO-MYUNG Recycling Co., Ltd.	Insurance liabilities		1		1
Go2joy Co., Ltd.	Financial assets at fair value through profit or loss		1,200		1,200

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)		June 30, 2025		December 31, 2024
S&E Bio Co., Ltd.	Financial assets at fair value through profit or loss		4,000		4,000
	Loans measured at amortized cost (gross amount)		2,015		2,016
	Other assets		3		3
	Deposits		606		772
	Other liabilities		4		3
	Allowances for credit losses		15		15
	Provisions		2		2
Bluepointpartners Inc.	Financial assets at fair value through profit or loss		1,616		1,636
4N Inc.	Deposits		2		4
Xenohelix Co., Ltd.	Financial assets at fair value through profit or loss		3,100		3,100
	Loans measured at amortized cost (gross amount)		557		4
	Allowances for credit losses		8		—
	Other assets		1		—
	Deposits		65		302
Contents First Inc.	Financial assets at fair value through profit or loss		13,115		13,213
	Loans measured at amortized cost (gross amount)		10,077		10,065
	Allowances for credit losses		26		12
	Other assets		2		3
	Deposits		83		729
	Other liabilities		4		4
KB-MDI Centauri Fund LP	Financial assets at fair value through profit or loss		15,863		21,058
	Other assets		96		—
2020 KB Fintech Renaissance Fund	Other assets		29		37
OKXE Inc.	Financial assets at fair value through profit or loss		2,722		2,722
Newavel Co., Ltd.	Loans measured at amortized cost (gross amount)		—		20
Pin Therapeutics Inc.	Loans measured at amortized cost (gross amount)		18		29
	Financial assets at fair value through profit or loss		7,000		7,000
	Deposits		2,701		11,133
	Other liabilities		57		117
	Allowances for credit losses		2		3
	Provisions		1		—
IMBiologics Corp.	Loans measured at amortized cost (gross amount)		1		2
	Financial assets at fair value through profit or loss		10,055		7,000
	Provisions		1		—

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)		June 30, 2025		December 31, 2024
SuperNGine Co., Ltd.	Loans measured at amortized cost (gross amount)		252		482
	Deposits		27		217
	Allowances for credit losses		21		39
	Other assets		1		1
	Financial assets at fair value through profit or loss		1,996		1,996
Desilo Inc.	Financial assets at fair value through profit or loss		3,168		3,168
	Loans measured at amortized cost (gross amount)		300		300
	Allowances for credit losses		5		5
	Deposits		2		3
Turing Co., Ltd.	Financial assets at fair value through profit or loss		3,000		3,000
	Loans measured at amortized cost (gross amount)		900		900
	Allowances for credit losses		6		6
	Other assets		2		2
	Deposits		124		819
Kukka Co., Ltd. *	Financial assets at fair value through profit or loss		—		2,490
	Insurance liabilities		—		1
ZIPDOC Inc. *	Deposits		—		1
TeamSparta Inc. *	Loans measured at amortized cost (gross amount)		41		5
	Financial assets at fair value through profit or loss		—		4,001
	Provisions		—		1
	Deposits		—		18,635
	Other liabilities		—		34
Chabot Mobility Co., Ltd. *	Financial assets at fair value through profit or loss		—		2,580
	Deposits		—		631
Wemade Connect Co., Ltd.	Financial assets at fair value through profit or loss		8,959		7,466
	Loans measured at amortized cost (gross amount)		19		29
	Allowances for credit losses		6		9
	Provisions		16		14
	Deposits		4,192		5,465
	Insurance liabilities		4		4
	Other liabilities		21		38
Nextrade Co., Ltd.	Deposits		15,849		15,281
	Other liabilities		1,953		1,579

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)		June 30, 2025		December 31, 2024
TMAP Mobility Co., Ltd.	Loans measured at amortized cost (gross amount)		45		73
	Allowances for credit losses		—		1
	Deposits		60,001		100,010
	Insurance liabilities		37		235
	Other liabilities		263		548
	Provisions		5		5
FutureConnect Co., Ltd. *	Financial assets at fair value through profit or loss		—		1,499
Grinergy Co., Ltd.	Loans measured at amortized cost (gross amount)		—		1
	Financial assets at fair value through profit or loss		7,961		—
	Provisions		—		2
	Deposits		156		—
NexThera Co., Ltd.	Financial assets at fair value through profit or loss		3,000		3,000
FineKB Private Equity Fund No.1	Other assets		78		144
Paramark KB Fund No.1	Other liabilities		35		45
KB-Badgers Future Mobility ESG Fund No.1	Other assets		3		—
KB Social Impact Investment Fund	Other assets		100		250
Checkmate Therapeutics Inc.	Financial assets at fair value through profit or loss		3,200		3,200
	Insurance liabilities		2		3
Hibiscus Fund LP	Financial assets at fair value through profit or loss		15,492		14,717
	Other assets		352		210
RMG-KB BioAccess Fund L.P.	Financial assets at fair value through profit or loss		9,088		9,379
	Other assets		85		—
RMG-KB BP Management Ltd.	Financial assets at fair value through profit or loss		345		344
KB Co-Investment Private Equity Fund No.1	Other assets		441		302
Spoonlabs Co., Ltd. *	Financial assets at fair value through profit or loss		—		15,006
Neuroptika Inc.	Financial assets at fair value through profit or loss		5,879		5,879
Bitgoeul Cheomdan Green 1st Co., Ltd.	Deposits		1,248		1,239
Glenwood Credit Private Equity Fund No.2	Deposits		680		—

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)		June 30, 2025		December 31, 2024
Bigwave Robotics Corp.	Loans measured at amortized cost (gross amount)		37		39
	Allowances for credit losses		4		—
	Financial assets at fair value through profit or loss		4,118		2,750
	Deposits		—		501
	Provisions		3		—
	Other liabilities		—		6
3D Interactive Co., Ltd.	Loans measured at amortized cost (gross amount)		2		6
	Provisions		1		2
	Financial assets at fair value through profit or loss		2,300		2,300
	Deposits		31		1,779
XL8 INC.	Financial assets at fair value through profit or loss		5,416		5,869
Elev8-Capital Fund I	Financial assets at fair value through profit or loss		14,450		16,250
New Daegu Busan Expressway Co., Ltd.	Loans measured at amortized cost (gross amount)		14		24,264
	Allowances for credit losses		4		4
	Other assets		—		22
	Deposits		78,167		150,007
	Other liabilities		41		1,928
	Insurance liabilities		238		22
AIM FUTURE, Inc.	Financial assets at fair value through profit or loss		2,000		2,000
	Loans measured at amortized cost (gross amount)		903		908
	Allowances for credit losses		5		5
	Other assets		1		1
	Deposits		500		760
Novorex Inc.	Financial assets at fair value through profit or loss		4,000		2,000
	Loans measured at amortized cost (gross amount)		12		8
	Allowances for credit losses		3		—
	Provisions		3		—
	Deposits		6		6
Seokwang T&I Co., Ltd	Insurance liabilities		1		2
ADP Holdings Co., Ltd.	Deposits		2,050		2,058
	Other liabilities		1		7

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)		June 30, 2025		December 31, 2024
ADPGREEN	Loans measured at amortized cost (gross amount)		21		25
	Deposits		5,950		1,802
	Other liabilities		44		8
	Allowances for credit losses		2		8
	Provisions		3		3
	Insurance liabilities		15		101
Logpresso Inc.	Financial assets at fair value through profit or loss		3,000		3,000
	Loans measured at amortized cost (gross amount)		31		31
	Deposits		136		457
	Other liabilities		1		—
Onheal Co., Ltd.	Financial assets at fair value through profit or loss		10,000		10,000
	Deposits		1		5,001
Ascent Global Fund III	Financial assets at fair value through profit or loss		3,476		3,767
DYNE MEDICAL GROUP Inc.	Financial assets at fair value through profit or loss		3,001		3,001
	Loans measured at amortized cost (gross amount)		2,011		2,022
	Allowances for credit losses		14		16
	Provisions		6		6
	Other assets		1		1
	Deposits		959		3,813
	Other liabilities		9		23
	Insurance liabilities		3		1
TriOar Inc.	Financial assets at fair value through profit or loss		3,000		3,000
	Loans measured at amortized cost (gross amount)		12		16
	Deposits		3,154		6,054
	Other liabilities		26		73
Coxwave Co., Ltd.	Financial assets at fair value through profit or loss		3,000		3,000
SDT Inc.	Financial assets at fair value through profit or loss		2,771		3,105
Yeoulhyulgangho	Financial assets at fair value through profit or loss		500		500
	Deposits		589		456
KB-VEP Contact Fund	Other assets		15		15
Xpanner Inc.	Financial assets at fair value through profit or loss		9,793		9,673
	Insurance liabilities		3		1

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)		June 30, 2025		December 31, 2024
SD Speed Co.,Ltd.	Insurance liabilities		—		1
Allra Fintech Corp.	Loans measured at amortized cost (gross amount)		28		—
	Allowances for credit losses		3		—
	Deposits		1,065		1,671
	Other liabilities		—		1
	Provisions		—		2
GCSM Holdings Limited *	Financial assets at fair value through profit or loss		—		9,506
KB Rejuvenation Fund	Other assets		37		3
Qoala *	Financial assets at fair value through profit or loss		—		6,554
FineKB Private Equity Fund No.2	Other assets		35		35
Koru Pharma Co., Ltd.	Financial assets at fair value through profit or loss		7,890		—
	Deposits		124		—
	Insurance liabilities		9		—
Seoul Robotics Co.,Ltd	Financial assets at fair value through profit or loss		13,247		—
Aldaver	Financial assets at fair value through profit or loss		2,000		—
	Deposits		849		—
	Other liabilities		1		—
ANTIGRAVITY	Financial assets at fair value through profit or loss		900		—
	Loans measured at amortized cost (gross amount)		44		—
	Allowances for credit losses		1		—
	Deposits		125		—
HyperAccel Co., Ltd.	Financial assets at fair value through profit or loss		8,500		—
enParticle Co., Ltd	Financial assets at fair value through profit or loss		2,000		—
	Deposits		2,644		—
ALL ROUND DOCTORS Inc.	Financial assets at fair value through profit or loss		2,000		—
Emocog Inc.	Financial assets at fair value through profit or loss		4,000		—
	Deposits		3,002		—
	Other liabilities		28		—
GAME TALES	Financial assets at fair value through profit or loss		3,000		—
Streami Inc.	Financial assets at fair value through profit or loss		2,754		—

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)		June 30, 2025		December 31, 2024
Lemontree Inc.	Financial assets at fair value through profit or loss		999		—
	Other assets		6		—
	Deposits		618		—
	Provisions		2		—
WhaTap Laps Inc.	Financial assets at fair value through profit or loss		6,370		—
	Other assets		1		—
	Deposits		3,541		—
	Other liabilities		39		—
Semicolon Susong REITs Co., Ltd.	Loans measured at amortized cost (gross amount)		24,908		—
	Allowances for credit losses		5		—
	Other assets		170		—
	Insurance liabilities		24		—
IMT TECHNOLOGY CO.. LTD	Insurance liabilities		1		—
Key management personnel	Loans measured at amortized cost (gross amount)		7,458		7,125
	Allowances for credit losses		15		3
	Other assets		7		8
	Deposits		14,281		15,365
	Provisions		1		1
	Insurance liabilities		2,762		2,308
	Other liabilities		370		555
Retirement pension	Other assets		828		739
	Other liabilities		1,229		1,215

*	Excluded from the Group’s related party as of June 30, 2025, therefore, the remaining outstanding balances with those entities are not disclosed.

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.3 Details of significant lending transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Beginning		Loan		Collection			Ending
Associates and joint ventures
Korea Credit Bureau Co., Ltd.		36		155		(36	)		155
Incheon Bridge Co., Ltd.		105,423		158		(5,262	)		100,319
Star-Lord General Investors Private Real Estate Investment Company No.10		149,898		150,000		(150,448	)		149,450
Food Factory Co., Ltd.		1,764		508		(173	)		2,099
Big Dipper Co., Ltd.		43		22		(43	)		22
RMGP Bio-Pharma Investment Fund, L.P.		7,205		—		(4,409	)		2,796
RMGP Bio-Pharma Investment, L.P.		25		—		(4	)		21
Wyatt Corp. *		3,000		—		(3,000	)		—
Banksalad Co., Ltd.		2,059		442		—			2,501
UPRISE, Inc.		1,817		9		—			1,826
Stratio, Inc.		1,000		—		—			1,000
HonestAI Co., LTD.		442		—		—			442
CellinCells Co., Ltd. *		2,001		4		(2,001	)		4
KB No.21 Special Purpose Acquisition Company *		3,122		—		(3,122	)		—
KB No.25 Special Purpose Acquisition Company		1,850		75		—			1,925
KB No.26 Special Purpose Acquisition Company *		2,150		—		(144	)		2,006
KB No.27 Special Purpose Acquisition Company		5,877		232		—			6,109
KB No.28 Special Purpose Acquisition Company		2,113		95		—			2,208
KB No.29 Special Purpose Acquisition Company		3,015		3,223		(3,122	)		3,116
KB No.30 Special Purpose Acquisition Company		2,835		87		—			2,922
KB No.31 Special Purpose Acquisition Company		4,301		141		—			4,442
KB No.33 Special Purpose Acquisition Company		—		2,090		—			2,090
Channel Corporation		20,141		—		(5,841	)		14,300
MitoImmune Therapeutics		1,574		—		(1,574	)		—
Bioprotect Ltd.		4,628		671		—			5,299
ASSEMBLE CORPORATION		6,021		26		(21	)		6,026
Go2joy Co., Ltd.		1,200		—		—			1,200
S&E Bio Co., Ltd.		6,016		15		(16	)		6,015
Bluepointpartners Inc.		1,636		—		(20	)		1,616
Xenohelix Co., Ltd.		3,104		557		(4	)		3,657
Contents First Inc.		23,278		77		(163	)		23,192
KB-MDI Centauri Fund LP		21,058		—		(5,195	)		15,863
OKXE Inc.		2,722		—		—			2,722

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.3 Details of significant lending transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2025
	Beginning		Loan		Collection			Ending
Checkmate Therapeutics Inc.		3,200		—		—			3,200
Newavel Co., Ltd.		20		—		(20	)		—
IMBiologics Corp.		7,002		3,056		(2	)		10,056
Spark Biopharma Inc.		4,649		112		(15	)		4,746
Pin Therapeutics Inc.		7,029		18		(29	)		7,018
Hibiscus Fund LP		14,717		775		—			15,492
SuperNGine Co., Ltd.		2,478		2		(232	)		2,248
Desilo Inc.		3,468		—		—			3,468
RMG-KB BioAccess Fund L.P.		9,379		—		(291	)		9,088
RMG-KB BP Management Ltd.		344		1		—			345
Turing Co., Ltd.		3,900		—		—			3,900
Kukka Co., Ltd. *		2,490		—		(2,490	)		—
Grinergy Co., Ltd.		1		7,961		(1	)		7,961
NexThera Co., Ltd.		3,000		—		—			3,000
Chabot Mobility Co., Ltd. *		2,580		—		(2,580	)		—
TeamSparta Inc. *		4,006		41		(4,006	)		41
FutureConnect Co., Ltd. *		1,499		—		(1,499	)		—
Wemade Connect Co., Ltd.		7,495		1,512		(29	)		8,978
TMAP Mobility Co., Ltd.		73		45		(73	)		45
Spoonlabs Co., Ltd. *		15,006		—		(15,006	)		—
Neuroptika Inc.		5,879		—		—			5,879
Bigwave Robotics Corp.		2,789		1,405		(39	)		4,155
3D Interactive Co., Ltd.		2,306		2		(6	)		2,302
XL8 INC.		5,869		—		(453	)		5,416
Elev8-Capital Fund I		16,250		—		(1,800	)		14,450
AIM FUTURE, Inc.		2,908		3		(8	)		2,903
New Daegu Busan Expressway Co., Ltd.		24,264		17		(24,267	)		14
Novorex Inc.		2,008		2,012		(8	)		4,012
Logpresso Inc.		3,031		31		(31	)		3,031
Onheal Co., Ltd.		10,000		—		—			10,000
Ascent Global Fund III		3,767		—		(291	)		3,476
DYNE MEDICAL GROUP Inc.		5,023		10		(21	)		5,012
TriOar Inc.		3,016		12		(16	)		3,012
Coxwave Co., Ltd.		3,000		—		—			3,000
SDT Inc.		3,105		—		(334	)		2,771
Yeoulhyulgangho		500		—		—			500
ADPGREEN		25		21		(25	)		21
Xpanner Inc.		9,673		120		—			9,793
GCSM Holdings Limited *		9,506		—		(9,506	)		—
Qoala *		6,554		—		(6,554	)		—
Allra Fintech Corp.		—		28		—			28
Koru Pharma Co., Ltd.		—		7,890		—			7,890
ANTIGRAVITY		—		944		—			944
Semicolon Susong REITs Co., Ltd.		—		25,000		(92	)		24,908
Seoul Robotics Co.,Ltd		—		13,247		—			13,247

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.3 Details of significant lending transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2025
	Beginning		Loan		Collection			Ending
WhaTap Laps Inc.		—		6,370		—			6,370
Lemontree Inc.		—		999		—			999
GAME TALES		—		3,000		—			3,000
Streami Inc.		—		2,754		—			2,754
HyperAccel Co., Ltd.		—		8,500		—			8,500
Aldaver		—		2,000		—			2,000
enParticle Co., Ltd		—		2,000		—			2,000
ALL ROUND DOCTORS Inc.		—		2,000		—			2,000
Emocog Inc.		—		4,000		—			4,000
Key management personnel		7,125		4,391		(4,058	)		7,458

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.3 Details of significant lending transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Beginning		Loan		Collection			Ending
Associates and joint ventures
Korea Credit Bureau Co., Ltd.		37		37		(37	)		37
Incheon Bridge Co., Ltd.		113,794		11		(5,021	)		108,784
Star-Lord General Investors Private Real Estate Investment Company No.10		149,590		152		—			149,742
KB Cape No.1 Private Equity Fund *		1,935		—		(1,935	)		—
RAND Bio Science Co., Ltd. *		1		1		(1	)		1
Food Factory Co., Ltd.		2,875		5		(866	)		2,014
Big Dipper Co., Ltd.		14		12		(14	)		12
RMGP Bio-Pharma Investment Fund, L.P.		5,938		722		—			6,660
RMGP Bio-Pharma Investment, L.P.		20		3		—			23
Wyatt Corp. *		6,000		—		—			6,000
Banksalad Co., Ltd.		9,148		—		(4,670	)		4,478
UPRISE, Inc.		5,710		—		(4,056	)		1,654
Stratio, Inc.		1,000		—		—			1,000
HonestAI Co., LTD.		3,999		—		—			3,999
CellinCells Co., Ltd. *		2,003		2		(3	)		2,002
KB No.21 Special Purpose Acquisition Company *		2,987		277		—			3,264
KB No.22 Special Purpose Acquisition Company *		2,985		—		(2,985	)		—
KB No.25 Special Purpose Acquisition Company		2,025		375		—			2,400
KB No.26 Special Purpose Acquisition Company *		2,204		311		—			2,515
KB No.27 Special Purpose Acquisition Company		6,054		120		—			6,174
KB No.28 Special Purpose Acquisition Company		—		2,142		—			2,142
KB No.29 Special Purpose Acquisition Company		—		3,088		—			3,088
KB No.30 Special Purpose Acquisition Company		—		1,390		—			1,390
COSES GT Co., Ltd. *		1		2		(1	)		2
Channel Corporation		16,906		2,266		—			19,172
MitoImmune Therapeutics		7,000		—		—			7,000
Bioprotect Ltd.		4,474		511		—			4,985
ASSEMBLE CORPORATION		6,155		19		(105	)		6,069
Go2joy Co., Ltd.		1,200		—		—			1,200
S&E Bio Co., Ltd.		4,013		2,009		(13	)		6,009
Bluepointpartners Inc.		1,874		29		—			1,903
Xenohelix Co., Ltd.		3,100		—		—			3,100
Contents First Inc.		17,642		1,071		(365	)		18,348

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.3 Details of significant lending transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Beginning		Loan		Collection			Ending
KB-MDI Centauri Fund LP		18,993		470		—			19,463
OKXE Inc.		800		1,412		—			2,212
Checkmate Therapeutics Inc.		3,200		—		—			3,200
Newavel Co., Ltd.		3,013		4		(13	)		3,004
IMBiologics Corp.		7,005		10		(5	)		7,010
Spark Biopharma Inc.		7,467		11		(17	)		7,461
Pin Therapeutics Inc.		5,011		7		(11	)		5,007
Hibiscus Fund LP		12,915		861		—			13,776
SuperNGine Co., Ltd.		2,599		2		(123	)		2,478
Desilo Inc.		3,468		—		—			3,468
RMG-KB BioAccess Fund L.P.		5,036		1,490		—			6,526
RMG-KB BP Management Ltd.		174		77		—			251
IGGYMOB Co., Ltd.		5,007		32		(7	)		5,032
Turing Co., Ltd.		4,901		—		(1	)		4,900
Kukka Co., Ltd. *		2,490		—		—			2,490
ZIPDOC Inc. *		2,000		—		(1,209	)		791
Gushcloud Talent Agency		3,688		228		—			3,916
Grinergy Co., Ltd.		6,486		299		—			6,785
NexThera Co., Ltd.		3,000		—		—			3,000
Chabot Mobility Co., Ltd. *		2,000		417		—			2,417
TeamSparta Inc. *		4,308		644		(307	)		4,645
FutureConnect Co., Ltd. *		1,499		—		—			1,499
Wemade Connect Co., Ltd.		12,337		26		(4,607	)		7,756
TMAP Mobility Co., Ltd.		106		56		(106	)		56
Spoonlabs Co., Ltd. *		19,506		—		(1,104	)		18,402
Neuroptika Inc.		5,879		—		—			5,879
Bigwave Robotics Corp.		2,781		42		(31	)		2,792
Blinkers Inc. *		999		—		—			999
3D Interactive Co., Ltd.		2,342		33		(42	)		2,333
XL8 INC.		5,148		399		—			5,547
Elev8-Capital Fund I		6,656		7,435		—			14,091
AIM FUTURE, Inc.		2,900		5		—			2,905
New Daegu Busan Expressway Co., Ltd.		72,742		23		(24,253	)		48,512
Novorex Inc.		2,000		15		—			2,015
Logpresso Inc.		—		3,000		—			3,000
Onheal Co., Ltd.		—		10,000		—			10,000
Ascent Global Fund III		—		3,560		—			3,560
DYNE MEDICAL GROUP Inc.		—		3,001		—			3,001
TriOar Inc.		—		3,000		—			3,000
Coxwave Co., Ltd.		—		3,000		—			3,000
SDT Inc.		—		2,561		—			2,561
H Energy Co., Ltd *		—		793		—			793
Yeoulhyulgangho		—		500		—			500
ADPGREEN		—		15		—			15
Key management personnel		5,490		3,539		(3,293	)		5,736

*	Excluded from the Group’s related party as of June 30, 2025.

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.4 Details of significant borrowing transactions with related parties for six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Beginning		Borrowing		Repayment			Others 1			Ending
Associates and joint ventures
Korea Credit Bureau Co., Ltd.		40,570		—		—			(35,692	)		4,878
Incheon Bridge Co., Ltd.		43,867		28,000		(25,000	)		18,403			65,270
Jungdo Co., Ltd.		4		—		—			—			4
Iwon Alloy Co., Ltd.		2		—		—			(2	)		—
Skydigital Inc.		30		—		—			(26	)		4
Aju Good Technology Venture Fund		1,809		—		—			(1,770	)		39
KB-KDBC Pre-IPO New Technology Business Investment Fund		39		—		—			3,515			3,554
WJ Private Equity Fund No.1		46		—		—			(7	)		39
KB No.21 Special Purpose Acquisition Company 2		2,247		—		(2,115	)		(132	)		—
KB No.25 Special Purpose Acquisition Company		1,545		1,500		(1,545	)		105			1,605
KB No.26 Special Purpose Acquisition Company 2		1,763		—		(110	)		(1,653	)		—
KB No.27 Special Purpose Acquisition Company		4,613		—		—			(51	)		4,562
KB No.28 Special Purpose Acquisition Company		1,910		—		(1,890	)		200			220
KB No.29 Special Purpose Acquisition Company		2,338		2,148		(2,100	)		(27	)		2,359
KB No.30 Special Purpose Acquisition Company		1,786		—		—			(22	)		1,764
KB No.31 Special Purpose Acquisition Company		2,352		—		—			(76	)		2,276
KB No.32 Special Purpose Acquisition Company		—		2,000		—			355			2,355
KB No.33 Special Purpose Acquisition Company		—		2,400		—			588			2,988
RAND Bio Science Co., Ltd. 2		4		—		—			(4	)		—
Food Factory Co., Ltd.		907		—		—			(15	)		892
Big Dipper Co., Ltd.		123		—		—			(51	)		72
Wyatt Corp. 2		1		—		—			(1	)		—
CellinCells Co., Ltd. 2		13		—		—			(13	)		—
ASSEMBLE CORPORATION		18		—		—			—			18
S&E Bio Co., Ltd.		772		430		(50	)		(546	)		606
4N Inc.		4		—		—			(2	)		2
Contents First Inc.		729		—		—			(646	)		83
Pin Therapeutics Inc.		11,133		—		(8,000	)		(432	)		2,701
Spark Biopharma Inc.		4,759		6,492		(8,650	)		(37	)		2,564
SuperNGine Co., Ltd.		217		—		—			(190	)		27

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.4 Details of significant borrowing transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2025
	Beginning		Borrowing		Repayment			Others 1			Ending
Desilo Inc.		3		—		—			(1	)		2
Turing Co., Ltd.		819		—		—			(695	)		124
TMAP Mobility Co., Ltd.		100,010		160,000		(200,000	)		(9	)		60,001
Nextrade Co., Ltd.		15,281		—		—			568			15,849
ZIPDOC Inc. 2		1		—		—			(1	)		—
TeamSparta Inc. 2		18,635		—		—			(18,635	)		—
Chabot Mobility Co., Ltd. 2		631		—		—			(631	)		—
Wemade Connect Co., Ltd.		5,465		6,036		(8,000	)		691			4,192
Channel Corporation		6		—		—			(1	)		5
Bitgoeul Cheomdan Green 1st Co., Ltd.		1,239		—		—			9			1,248
Glenwood Credit Private Equity Fund No.2		—		—		—			680			680
Bigwave Robotics Corp.		501		—		(501	)		—			—
3D Interactive Co., Ltd.		1,779		—		—			(1,748	)		31
AIM FUTURE, Inc.		760		—		—			(260	)		500
New Daegu Busan Expressway Co., Ltd.		150,007		61,000		(130,500	)		(2,340	)		78,167
Novorex Inc.		6		—		—			—			6
Xenohelix Co., Ltd.		302		—		—			(237	)		65
ADP Holdings Co., Ltd.		2,058		6,124		(6,131	)		(1	)		2,050
ADPGREEN		1,802		4,400		(550	)		298			5,950
Logpresso Inc.		457		874		(874	)		(321	)		136
DYNE MEDICAL GROUP Inc.		3,813		3,300		(5,300	)		(854	)		959
Onheal Co., Ltd.		5,001		—		—			(5,000	)		1
TriOar Inc.		6,054		1,000		(4,500	)		600			3,154
Yeoulhyulgangho		456		410		(610	)		333			589
Allra Fintech Corp.		1,671		2,000		(3,000	)		394			1,065
Koru Pharma Co., Ltd.		—		100		—			24			124
Emocog Inc.		—		3,000		—			2			3,002
WhaTap Laps Inc.		—		—		—			3,541			3,541
Aldaver		—		—		—			849			849
Lemontree Inc.		—		—		—			618			618
enParticle Co., Ltd		—		—		—			2,644			2,644
ANTIGRAVITY		—		—		—			125			125
Grinergy Co., Ltd.		—		—		—			156			156
Key management personnel		15,365		18,166		(17,337	)		(1,913	)		14,281

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.4 Details of significant borrowing transactions with related parties for six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Beginning		Borrowing		Repayment			Others 1			Ending
Associates and joint ventures
Korea Credit Bureau Co., Ltd.		17,003		—		—			(12,202	)		4,801
Incheon Bridge Co., Ltd.		40,992		26,000		(26,300	)		26,822			67,514
Jungdo Co., Ltd.		4		—		—			—			4
Dae-A Leisure Co., Ltd.		150		—		—			(1	)		149
Iwon Alloy Co., Ltd.		1		—		—			(1	)		—
Skydigital Inc.		65		—		—			(60	)		5
Aju Good Technology Venture Fund		1,202		—		—			(757	)		445
KB-KDBC Pre-IPO New Technology Business Investment Fund		46		—		—			(2	)		44
KB-Brain KOSDAQ Scale-up New Technology Business Investment Fund 2		—		—		—			1			1
WJ Private Equity Fund No.1		103		—		—			(53	)		50
KB No.21 Special Purpose Acquisition Company 2		2,261		—		—			(14	)		2,247
KB No.22 Special Purpose Acquisition Company 2		1,848		—		—			(1,848	)		—
KB No.25 Special Purpose Acquisition Company		1,586		1,545		(1,500	)		(46	)		1,585
KB No.26 Special Purpose Acquisition Company 2		1,761		1,724		(1,670	)		(43	)		1,772
KB No.27 Special Purpose Acquisition Company		4,497		—		—			(17	)		4,480
KB No.28 Special Purpose Acquisition Company		—		1,890		—			100			1,990
KB No.29 Special Purpose Acquisition Company		—		2,100		—			257			2,357
RAND Bio Science Co., Ltd. 2		4		—		—			(2	)		2
Food Factory Co., Ltd.		629		—		—			145			774
Big Dipper Co., Ltd.		40		—		—			(4	)		36
Wyatt Corp. 2		1		—		—			—			1
CellinCells Co., Ltd. 2		37		—		—			18			55
COSES GT Co., Ltd. 2		1		—		—			(1	)		—
ASSEMBLE CORPORATION		78		—		—			(69	)		9
S&E Bio Co., Ltd.		2,342		—		(500	)		996			2,838
4N Inc.		49		—		—			(49	)		—
Contents First Inc.		1,072		—		—			702			1,774
Newavel Co., Ltd.		46		—		—			72			118
Pin Therapeutics Inc.		265		—		—			(45	)		220
Spark Biopharma Inc.		11,419		20,916		(20,485	)		572			12,422

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.4 Details of significant borrowing transactions with related parties for six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2024
	Beginning		Borrowing		Repayment			Others 1			Ending
SuperNGine Co., Ltd.		69		—		—			(14	)		55
Desilo Inc.		3		—		—			1			4
Turing Co., Ltd.		1,726		1,000		(700	)		(839	)		1,187
IGGYMOB Co., Ltd.		—		—		—			97			97
TMAP Mobility Co., Ltd.		80,016		160,000		(190,000	)		19			50,035
KY Global Cell & Gene Private Equity Fund 2nd 2		3,790		2,910		(308	)		(6,392	)		—
Nextrade Co., Ltd.		56,203		6,000		(11,200	)		—			51,003
Kukka Co., Ltd. 2		—		—		—			4			4
ZIPDOC Inc. 2		181		—		—			(101	)		80
TeamSparta Inc. 2		7,672		3,000		(3,300	)		4,699			12,071
Chabot Mobility Co., Ltd. 2		164		—		—			701			865
Wemade Connect Co., Ltd.		8,843		15,821		(17,000	)		1,093			8,757
Channel Corporation		2,030		—		(2,000	)		(24	)		6
Bitgoeul Cheomdan Green 1st Co., Ltd.		833		—		—			539			1,372
Glenwood Credit Private Equity Fund No.2		—		—		—			688			688
KB-FT Green Growth 1st Technology Investment Association		700		—		(700	)		—			—
Bigwave Robotics Corp.		4		—		—			(1	)		3
3D Interactive Co., Ltd.		1,501		—		—			(1,500	)		1
AIM FUTURE, Inc.		3,393		1,000		(2,000	)		(195	)		2,198
New Daegu Busan Expressway Co., Ltd.		146,169		104,500		(58,932	)		(32,506	)		159,231
Novorex Inc.		7		—		—			(1	)		6
Xenohelix Co., Ltd.		904		—		—			(765	)		139
ADP Holdings Co., Ltd.		—		2,003		—			1			2,004
ADPGREEN		—		8,401		(7,751	)		201			851
Logpresso Inc.		—		—		—			1,141			1,141
DYNE MEDICAL GROUP Inc.		—		150		(2,800	)		7,430			4,780
Onheal Co., Ltd.		—		—		—			2,740			2,740
TriOar Inc.		—		2,500		(3,000	)		8,585			8,085
Yeoulhyulgangho		—		—		—			819			819
SDT Inc.		—		—		(1,000	)		1,135			135
Key management personnel		15,902		14,997		(9,597	)		(3,931	)		17,371

1	Transactions between related parties, such as settlements arising from operating activities and deposits, are expressed in net amount.

2	Excluded from the Group’s related party as of June 30, 2025.

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.5 Details of significant investment and withdrawal transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025				2024
	Equity investment and others		Withdrawal and others		Equity investment and others		Withdrawal and others
Balhae Infrastructure Company		—		4,660		—		6,350
POSCO-KB Shipbuilding Fund		—		250		—		—
KB-KDBC Pre-IPO New Technology Business Investment Fund		—		600		—		—
KB-SJ Tourism Venture Fund		—		190		—		4,030
Korea Credit Bureau Co., Ltd.		—		90		—		90
KB-Solidus Global Healthcare Fund		—		3,300		—		700
KB-Stonebridge Secondary Private Equity Fund		—		4,565		—		—
KB SPROTT Renewable Private Equity Fund No.1		—		5,535		—		3,456
KB-NAU Special Situation Corporate Restructuring Private Equity Fund		3,609		3,918		444		2,690
2020 KB Fintech Renaissance Fund		—		165		—		—
KB Material and Parts No.1 PEF *		—		—		—		3,400
KB-TS Technology Venture Private Equity Fund		39		—		—		2,464
KB-Brain KOSDAQ Scale-up New Technology Business Investment Fund *		—		—		—		2,825
Aju Good Technology Venture Fund		—		780		—		1,320
G payment Joint Stock Company		—		371		59		—
KB-KTB Technology Venture Fund		—		117		—		—
KB-SOLIDUS Healthcare Investment Fund		96		—		—		—
Paramark KB Fund No.1		3,690		—		3,180		—
FineKB Private Equity Fund No.1		—		2,200		6,790		—
FineKB Private Equity Fund No.2		—		—		500		250
KB No.21 Special Purpose Acquisition Company *		—		10		—		—
KB No.22 Special Purpose Acquisition Company *		—		—		—		10
KB No.26 Special Purpose Acquisition Company *		—		5		—		—
KB No.29 Special Purpose Acquisition Company		—		—		10		—
KB No.30 Special Purpose Acquisition Company		—		—		10		—
KB No.32 Special Purpose Acquisition Company		10		—		—		—
JS Private Equity Fund No.3		—		—		—		755
KB Co-Investment Private Equity Fund No.1		3,980		698		4,830		—
POSITIVE Sobujang Venture Fund No.1 *		—		879		—		—
History 2022 Fintech Fund		—		1,500		—		—
KB-NP Green ESG New Technology Venture Capital Fund		9,014		—		8,700		—
KB-Badgers Future Mobility ESG Fund No.1		—		151		9,954		—
Lakewood-AVES Fund No.1 *		—		—		—		1,172

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.5 Details of significant investment and withdrawal transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows: (cont’d)


(In millions of Korean won)	2025				2024
	Equity investment and others		Withdrawal and others		Equity investment and others		Withdrawal and others
Bitgoeul Cheomdan Green 1st Co., Ltd.		—		—		152		—
KB-SUSUNG 1st Investment Fund		—		855		—		679
KB-SUSUNG 2nd Investment Fund		—		—		2,000		—
Friend 55 New Technology Business Investment Fund *		—		—		—		1,200
Shinhan-Eco Venture Fund 2nd		25		—		200		—
2023 JB Newtech No.2 Fund		—		1,406		—		—
U-KB Credit No.1S Private Equity		—		244		63		—
KB-BridgePole Venture Investment Fund *		—		—		—		136
KB No.28 Special Purpose Acquisition Company		—		—		5		—
Timefolio Athleisure Investment Fund		—		—		4,000		—
COMPA Global Scale-Up Fund No.3		—		—		1,000		—
AKK Robotech Valueup New Technology Investment Fund		—		712		1,000		—
YG MCE PROJECT NO.1 Fund		—		—		1,500		—
THE CHAEUL FUND NO.1 *		—		1,000		—		—
IMM global Secondary 1-1 Equity Private Fund		756		5		2,499		—
Elohim-Bilanx aerospace No.1 Fund		—		—		2,000		—
KB-CJ Venture Fund 1st		—		—		1,800		—
HI YG Win-win Fund No.2		—		—		2,000		—
NOVORSEC-SJG Consumer Secondary Fund		—		451		—		—
Allra Fintech Corp.		52		—		—		—
KB-SBI Global Strategic Capital Fund		7,672		—		—		—
KB-Cyrus Tourism Venture Fund		1,000		—		—		—
KB-IMM New Star Real Estate Private Fund I		16,723		1,235		—		—
VIG Private Equity Fund V-3		55		—		—		—
KOENTEC Co. Ltd. *		—		107,428		—		—
E&I Holdings *		27,300		27,300		—		—
KB-LB Middle Market Enterprises Innovation Private Equity Fund		1,417		40		—		—
YG Al Industrial Automation Solutions FUND		2,000		—		—		—
KB-Novus Genesis Private Equity Fund		2,300		—		—		—
KB No.33 Special Purpose Acquisition Company		10		—		—		—
Semicolon Susong REITs Co., Ltd.		88,243		2,039		—		—
Smart Korea KB Future9-Sejong Venture Fund		1,000		7		—		—
DAYLI Fountainhead Blind Private Equity Fund II		750		—		—		—

*	Excluded from the Group’s related party as of June 30, 2025.

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Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.6 Unused commitments provided to related parties as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won or in a US Dollar or Malaysian ringgit or the Indonesian Rupiah)		June 30, 2025		December 31, 2024
Associates and joint ventures
Balhae Infrastructure Company	Purchase of securities		6,154		6,154
Korea Credit Bureau Co., Ltd.	Unused lines of credit for credit card		445		565
Incheon Bridge Co., Ltd.	Loan commitments in Korean won		20,000		20,000
	Unused lines of credit for credit card		86		88
TeamSparta Inc. *	Loan commitments in Korean won		—		1,000
	Unused lines of credit for credit card		—		696
3D Interactive Co., Ltd.	Unused lines of credit for credit card		48		44
Food Factory Co., Ltd.	Unused lines of credit for credit card		51		50
Lemontree Inc.	Loan commitments in Korean won		450		—
CellinCells Co., Ltd. *	Unused lines of credit for credit card		—		11
RAND Bio Science Co., Ltd. *	Unused lines of credit for credit card		—		25
Big Dipper Co., Ltd.	Unused lines of credit for credit card		33		12
ASSEMBLE CORPORATION	Unused lines of credit for credit card		24		29
COSES GT Co., Ltd. *	Unused lines of credit for credit card		—		12
Spark Biopharma Inc.	Unused lines of credit for credit card		42		35
Newavel Co., Ltd.	Unused lines of credit for credit card		—		10
IMBiologics Corp.	Unused lines of credit for credit card		10		21
SuperNGine Co., Ltd.	Unused lines of credit for credit card		38		38
IGGYMOB Co., Ltd.	Unused lines of credit for credit card		—		50
Pin Therapeutics Inc.	Unused lines of credit for credit card		32		21
Grinergy Co., Ltd.	Unused lines of credit for credit card		—		9
S&E Bio Co., Ltd.	Unused lines of credit for credit card		35		34
Wemade Connect Co., Ltd.	Unused lines of credit for credit card		131		121
TMAP Mobility Co., Ltd.	Unused lines of credit for credit card		771		744
Contents First Inc.	Unused lines of credit for credit card		23		35
Allra Fintech Corp.	Unused lines of credit for credit card		22		49
Bigwave Robotics Corp.	Unused lines of credit for credit card		63		61
New Daegu Busan Expressway Co., Ltd.	Unused lines of credit for credit card		4		4
AIM FUTURE, Inc.	Unused lines of credit for credit card		40		35
Novorex Inc.	Unused lines of credit for credit card		24		28
Xenohelix Co., Ltd.	Unused lines of credit for credit card		4		6
ADPGREEN	Unused lines of credit for credit card		79		25
Logpresso Inc.	Unused lines of credit for credit card		29		29
DYNE MEDICAL GROUP Inc.	Unused lines of credit for credit card		140		135
TriOar Inc.	Unused lines of credit for credit card		38		34

169

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.6 Unused commitments provided to related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won or in a US Dollar or the Indonesian Rupiah)		June 30, 2025		December 31, 2024
KB-CJ Venture Fund 1st	Purchase of securities		4,200		4,200
KB-Stonebridge Secondary Private Equity Fund	Purchase of securities		173		173
KB-NAU Special Situation Corporate Restructuring Private Equity Fund	Purchase of securities		924		4,524
All Together Korea Fund No.2	Purchase of securities		990,000		990,000
KB-SOLIDUS Healthcare Investment Fund	Purchase of securities		23,569		23,569
KB Co-Investment Private Equity Fund No.1	Purchase of securities		506		4,393
KB-Badgers Future Mobility ESG Fund No.1	Purchase of securities		26,919		26,920
KB-NP Green ESG New Technology Venture Capital Fund	Purchase of securities		1,050		9,750
FineKB Private Equity Fund No.1	Purchase of securities		2,335		2,335
KB-Solidus Global Healthcare Fund	Commitments on loss absorption priority		4,500		4,500
Paramark KB Fund No.1	Purchase of securities		2,670		6,360
Smart Korea KB Future9-Sejong Venture Fund	Purchase of securities		1,000		2,000
Shinhan-Eco Venture Fund 2nd	Purchase of securities		425		450
U-KB Credit No.1S Private Equity	Purchase of securities		35,700		35,700
KB-Cyrus Tourism Venture Fund	Purchase of securities		3,000		4,000
KB-SBI Global Strategic Capital Fund	Purchase of securities		48,030		55,702
KB-IMM New Star Real Estate Private Fund I	Purchase of securities		25,719		42,442
VIG Private Equity Fund V-3	Purchase of securities		8,309		8,364

170

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.6 Unused commitments provided to related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won or in a US Dollar or the Indonesian Rupiah)		June 30, 2025		December 31, 2024
IMM global Secondary 1-1 Equity Private Fund	Purchase of securities		10,098		—
KB-LB Middle Market Enterprises Innovation Private Equity Fund	Purchase of securities		21,582		—
DAYLI Fountainhead Blind Private Equity Fund II	Purchase of securities		49,249		—
RMGP Bio-Pharma Investment Fund, L.P.	Purchase of securities	USD	2,693,142	USD	2,693,142
RMGP Bio-Pharma Investment, L.P.	Purchase of securities	USD	8,470	USD	8,470
RMG-KB BP Management Ltd.	Purchase of securities	USD	544,902	USD	556,617
RMG-KB BioAccess Fund L.P.	Purchase of securities	USD	20,669,407	USD	21,113,820
Elev8-Capital Fund I	Purchase of securities	IDR	1,787,096,277	IDR	1,787,096,277
Ascent Global Fund III	Purchase of securities	USD	22,437,479	USD	32,437,479
Key management personnel	Loan commitments in Korean won		2,105		3,011

*	Excluded from the Group’s related party as of June 30, 2025.

171

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.7 Details of compensation to key management personnel for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Short-term employee benefits		Post- employment benefits		Share- based payments		Total
Registered directors (executive)		3,636		513		9,485		13,634
Registered directors (non-executive)		504		—		—		504
Non-registered directors		7,006		308		15,193		22,507

		11,146		821		24,678		36,645


(In millions of Korean won)	2024
	Short-term employee benefits		Post- employment benefits		Share- based payments		Total
Registered directors (executive)		3,972		498		8,620		13,090
Registered directors (non-executive)		548		—		—		548
Non-registered directors		7,398		261		16,098		23,757

		11,918		759		24,718		37,395

172

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KB Financial Group Inc. and Subsidiaries

Notes to the Consolidated Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

33.8 Details of collateral provided by related parties as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	Assets held as collateral	June 30, 2025		December 31, 2024
Key management personnel	Time deposits and others		695		1,437
	Real estate		7,422		8,092

As of June 30, 2025, Incheon Bridge Co., Ltd., a related party of the Group, provides fund management account, civil engineering works insurance, and management and operations rights as senior collateral amounting to 611,000 million to the project financing group consisting of the Group and 5 other institutions, and as subordinated collateral amounting to 384,800 million to subordinated debt holders consisting of the Group and 2 other institutions. Also, it provides certificate of credit guarantee amounting to 400,000 million as collateral to the project financing group consisting of the Group and 5 other institutions.

34. Events After the Reporting Period

According to the resolution of the Board of Directors on July 24, 2025, the quarterly dividend per share of 920 with dividend record date of August 11, 2025 was declared. The Group’s financial statements as of June 30, 2025, do not reflect this dividend payable.

The Parent Company plans to acquire treasury shares in accordance with a trust agreement, amounting to 660,000 million on the Stock Exchange by January 9, 2026 and retire those shares after the trust expires, pursuant to board resolutions dated July 24, 2025.

173

EX-99.2 3 d36708dex992.htm EX-99.2 EX-99.2 Table of Contents

Exhibit 99.2

KB Financial Group Inc.

Separate Interim Financial Statements

June 30, 2025 and 2024

(Unaudited)

Table of Contents

KB Financial Group Inc.


	Page(s)
Report on Review of Condensed Separate Interim Financial Statements		1-2

Separate Interim Financial Statements

Separate Interim Statements of Financial Position		3

Separate Interim Statements of Comprehensive Income		4

Separate Interim Statements of Changes in Equity		5

Separate Interim Statements of Cash Flows		6

Notes to the Separate Interim Financial Statements		7-50

Table of Contents

Report on Review of Condensed Separate Interim Financial Statements

(English Translation of a Report Originally Issued in Korean)

To the Shareholders and the Board of Directors of

KB Financial Group Inc.

Reviewed Financial Statements

We have reviewed the accompanying condensed separate interim financial statements of KB Financial Group Inc. (the “Company”). These condensed separate interim financial statements consist of the separate interim statement of financial position of the Company as at June 30, 2025, and the related separate interim statements of comprehensive income for the three-month and six month periods ended June 30, 2025 and 2024, and separate interim statements of changes in equity and cash flows for the six-month periods ended June 30, 2025 and 2024, and material accounting policy information and other selected explanatory notes, expressed in Korean Won.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and presentation of these condensed separate interim financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (“Korean IFRS”) No.1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of condensed separate interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on these condensed separate interim financial statements based on our review.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe the accompanying condensed separate interim financial statements are not prepared, in all material respects, in accordance with Korean IFRS No. 1034 Interim Financial Reporting.

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Other Matters

We have audited the separate statement of financial position of the Company as at December 31, 2024, and the related separate statements of comprehensive income, changes in equity and cash flows for the year then ended, not presented herein, in accordance with Korean Standards on Auditing. We expressed an unqualified opinion on those financial statements in our audit report dated March 5, 2025. The separate statement of financial position as at December 31, 2024, presented herein for comparative purposes, is consistent, in all material respects, with the above audited statement of financial position as at December 31, 2024.

/s/ Samil PricewaterhouseCoopers

Seoul, Korea

August 14, 2025

This report is effective as of August 14, 2025, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying condensed separate interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that there is a possibility that the above review report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

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KB Financial Group Inc.

Separate Interim Statements of Financial Position

June 30, 2025 and December 31, 2024

(In millions of Korean won)


	Notes		June 30, 2025 (Unaudited)			December 31, 2024
Assets
Cash and due from financial institutions		4,5,6,23		1,275,010			398,391
Financial assets at fair value through profit or loss		4,5,7		1,357,402			1,243,471
Loans measured at amortized cost		4,5,8		359,054			359,054
Investments in subsidiaries		9		26,867,817			26,867,817
Property and equipment				3,523			2,800
Intangible assets				13,524			14,497
Net defined benefit assets		13		2,076			2,902
Deferred income tax assets		10		2,566			5,257
Other assets		4,5		946,515			912,634

Total assets				30,827,487			29,806,823

Liabilities
Borrowings		4,5,11		200,000			965,000
Debentures		4,5,12		3,860,326			2,962,032
Current income tax liabilities				439,467			502,705
Other liabilities		4,5		515,740			388,528

Total liabilities				5,015,533			4,818,265

Equity		14
Share capital				2,090,558			2,090,558
Hybrid securities				5,162,273			5,082,359
Capital surplus				14,753,574			14,754,475
Accumulated other comprehensive loss				(8,291	)		(8,316	)
Retained earnings				5,055,378			4,305,542
Treasury shares				(1,241,538	)		(1,236,060	)

Total equity				25,811,954			24,988,558

Total liabilities and equity				30,827,487			29,806,823

The above separate interim statements of comprehensive income should be read in conjunction with the accompanying notes.

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KB Financial Group Inc.

Separate Interim Statements of Comprehensive Income

Three-Month and Six-Month Periods Ended June 30, 2025 and 2024

(In millions of Korean won, except per share amounts)


	Notes		2025						2024
			Three months			Six months			Three months			Six months
Interest income				10,549			16,076			12,546			22,363
Interest income from financial instruments at amortized cost				9,533			14,218			11,845			20,960
Interest income from financial instruments at fair value through profit or loss				1,016			1,858			701			1,403
Interest expense				(30,214	)		(58,905	)		(24,858	)		(48,400	)

Net interest expense		16		(19,665	)		(42,829	)		(12,312	)		(26,037	)

Fee and commission income				518			990			616			994
Fee and commission expense				(2,071	)		(4,333	)		(3,040	)		(4,560	)

Net fee and commission expense		17		(1,553	)		(3,343	)		(2,424	)		(3,566	)

Net gains (losses) on financial instruments at fair value through profit or loss		18		22,461			47,912			27,755			43,334

Net other operating income		19		—			2,355,586			—			2,243,250

General and administrative expenses		20		(28,165	)		(50,333	)		(23,843	)		(48,030	)

Operating income before provision for credit losses				(26,922	)		2,306,993			(10,824	)		2,208,951

Provision for credit losses				(7	)		(6	)		(249	)		(345	)

Net operating income				(26,929	)		2,306,987			(11,073	)		2,208,606

Net non-operating income (expense)				(174	)		(107	)		567			(79	)

Profit before tax				(27,103	)		2,306,880			(10,506	)		2,208,527

Income tax benefit (expense)		21		809			(6,581	)		(2,054	)		1,532

Profit for the period				(26,294	)		2,300,299			(12,560	)		2,210,059

Items that will not be reclassified to profit or loss:
Remeasurements of net defined benefit liabilities				36			25			(11	)		36

Other comprehensive income(loss) for the period, net of tax				36			25			(11	)		36

Total comprehensive income for the period				(26,258	)		2,300,324			(12,571	)		2,210,095

Earnings per share		22
Basic earnings per share				(219	)		5,954			(171	)		5,541
Diluted earnings per share				(217	)		5,900			(169	)		5,470

The above separate interim statements of comprehensive income should be read in conjunction with the accompanying notes.

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KB Financial Group Inc.

Separate Interim Statements of Changes in Equity

Six-Month Periods Ended June 30, 2025 and 2024

(In millions of Korean won)


	Share capital		Hybrid securities			Capital surplus			Accumulated other comprehensive income			Retained earnings			Treasury shares			Total equity
Balance as of January 1, 2024		2,090,558		5,032,518			14,754,747			(6,809	)		4,336,898			(1,165,837	)		25,042,075

Comprehensive income for the period
Profit for the period		—		—			—			—			2,210,059			—			2,210,059
Remeasurements of net defined benefit liabilities		—		—			—			36			—			—			36

Total comprehensive income for the period		—		—			—			36			2,210,059			—			2,210,095

Transactions with shareholders
Annual dividends		—		—			—			—			(587,006	)		—			(587,006	)
Quarterly dividends		—		—			—			—			(300,087	)		—			(300,087	)
Acquisition of treasury shares		—		—			—			—			—			(320,000	)		(320,000	)
Disposal of treasury shares		—		—			3,975			—			—			234,600			238,575
Consideration for exchange right of exchangeable bonds		—		—			(11,933	)		—			—			—			(11,933	)
Issuance of hybrid securities		—		399,045			—			—			—			—			399,045
Redemption of hybrid securities		—		(349,204	)		—			—			—			—			(349,204	)
Dividends on hybrid securities		—		—			—			—			(100,530	)		—			(100,530	)
Others		—		—			7,686			—			—			—			7,686

Total transactions with shareholders		—		49,841			(272	)		—			(987,623	)		(85,400	)		(1,023,454	)

Balance as of June 30, 2024		2,090,558		5,082,359			14,754,475			(6,773	)		5,559,334			(1,251,237	)		26,228,716

Balance as of January 1, 2025		2,090,558		5,082,359			14,754,475			(8,316	)		4,305,542			(1,236,060	)		24,988,558

Comprehensive income for the period
Profit for the period		—		—			—			—			2,300,299			—			2,300,299
Remeasurements of net defined benefit liabilities		—		—			—			25			—			—			25

Total comprehensive income for the period		—		—			—			25			2,300,299			—			2,300,324

Transactions with shareholders
Annual dividends		—		—			—			—			(298,285	)		—			(298,285	)
Quarterly dividends		—		—			—			—			(334,339	)		—			(334,339	)
Acquisition of treasury shares		—		—			—			—			—			(820,000	)		(820,000	)
Retirement of treasury shares		—		—			—			—			(814,522	)		814,522			—
Issuance of hybrid securities		—		404,013			—			—			—			—			404,013
Redemption of hybrid securities		—		(324,099	)		—			—			—			—			(324,099	)
Dividends on hybrid securities		—		—			—			—			(103,317	)		—			(103,317	)
Others		—		—			(901	)		—			—			—			(901	)

Total transactions with shareholders		—		79,914			(901	)		—			(1,550,463	)		(5,478	)		(1,476,928	)

Balance as of June 30, 2025		2,090,558		5,162,273			14,753,574			(8,291	)		5,055,378			(1,241,538	)		25,811,954

The above separate interim statements of changes in equity should be read in conjunction with the accompanying notes.

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KB Financial Group Inc.

Separate Interim Statements of Cash Flows

Six-Month Periods Ended June 30, 2025 and 2024

(In millions of Korean won)


	Notes	2025			2024
Cash flows from operating activities
Profit for the period			2,300,299			2,210,059

Adjustment for non-cash items
Depreciation and amortization expense			2,799			2,915
Provision for credit losses			6			345
Share-based payments			10,651			8,946
Net interest expense			11,233			6,367
Valuation losses (gains) on financial assets at fair value through profit or loss			(13,012	)		(16,180	)
Net other income (expense)			804			1,439

			12,481			3,832

Changes in operating assets and liabilities
Due from financial institutions			—			40,000
Deferred income tax assets			2,682			(1,532	)
Other assets			531,368			215,272
Other liabilities			(527,905	)		(251,193	)

			6,145			2,547

Net cash inflow from operating activities			2,318,925			2,216,438

Cash flows from investing activities
Acquisition of financial assets at fair value through profit or loss			(600,029	)		(150,000	)
Disposal of financial assets at fair value through profit of loss			500,000			316,080
Increase in loans measured at amortized cost			—			(105,000	)
Acquisition of property and equipment			(738	)		(65	)
Acquisition of intangible assets			(438	)		(332	)
Disposal of intangible assets			109			—
Net increase in guarantee deposits paid			3,646			1,597

Net cash inflow from investing activities			(97,450	)		62,280

Cash flows from financing activities
Increase in borrowings			—			765,000
Decrease in debentures			(765,000	)		—
Increase in debentures			1,477,332			—
Decrease in debentures			(580,000	)		(655,000	)
Redemption of principal of lease liabilities			(292	)		(290	)
Dividends paid to shareholders			(632,624	)		(887,093	)
Acquisition of treasury shares			(820,000	)		(320,000	)
Issuance of hybrid securities			404,013			399,045
Redemption of hybrid securities			(325,000	)		(349,204	)
Dividends paid on hybrid securities			(103,317	)		(100,530	)
Other financing activities			32			(785	)

Net cash outflow from financing activities			(1,344,856	)		(1,148,857	)

Net increase in cash and cash equivalents			876,619			1,129,861
Cash and cash equivalents at the beginning of the period	23		318,388			116,334

Cash and cash equivalents at the end of the period	23		1,195,007			1,246,195

The above separate interim statements of cash flows should be read in conjunction with the accompanying notes.

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

1. The Company

KB Financial Group Inc. (the “Company”), in accordance with the Financial Holding Companies Act, was established on September 29, 2008, through stock transfers with the former shareholders of Kookmin Bank, KB Investment & Securities Co., Ltd., KB Asset Management Co., Ltd., KB Real Estate Trust Co., Ltd., KB Investment Co., Ltd., KB Futures Co., Ltd., KB Credit Information Co., Ltd., and KB Data Systems Co., Ltd., and the Company’s main business purpose is to control subsidiaries that engage in the financial business or subsidiaries closely related to the financial business through the stock ownership. The headquarter is located at 26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul. The Company’s share capital as of June 30, 2025, is 2,090,558 million. In 2011, Kookmin Bank spun off its credit card business segment and established a new separate credit card company, KB Kookmin Card Co., Ltd., and KB Investment & Securities Co., Ltd. merged with KB Futures Co., Ltd. The Company established KB Savings Bank Co., Ltd. in January 2012, acquired Yehansoul Savings Bank Co., Ltd. in September 2013, and KB Savings Bank Co., Ltd. merged with Yehansoul Savings Bank Co., Ltd. in January 2014. In March 2014, the Company acquired Woori Financial Co., Ltd. and changed its name to KB Capital Co., Ltd. Meanwhile, the Company included LIG Insurance Co., Ltd. as an associate and changed its name to KB Insurance Co., Ltd. in June 2015, and KB Insurance Co., Ltd. became one of the subsidiaries through a tender offer in May 2017. Also, the Company included Hyundai Securities Co., Ltd. as an associate in June 2016 and included it as a subsidiary in October 2016 by comprehensive exchange of shares. Hyundai Securities Co., Ltd. merged with KB Investment & Securities Co., Ltd. in December 2016 and changed its name to KB Securities Co., Ltd. in January 2017. In August 2020, the Company and subsidiaries (the “Group”) acquired Prudential Life Insurance Company of Korea Ltd. which was classified as a subsidiary and the name was changed to KB Life Insurance Co., Ltd. in December 2022. Then in January 2023, it merged with another existing KB Life Insurance Co., Ltd. The Company sold 100% of the shares of KB Credit Information Co., Ltd. to KB Kookmin Card Co., Ltd. on June 30, 2023.

The Company has been listed on the Korea Exchange (“KRX”) since October 10, 2008, and on the New York Stock Exchange (“NYSE”) for its American Depositary Shares (“ADS”) since September 29, 2008. The number of shares authorized in its Articles of Incorporation is 1,000 million.

2. Basis of Preparation

2.1 Application of Korean IFRS

The Company maintains its accounting records in Korean won and prepares statutory financial statements in the Korean language (Hangul) in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (“Korean IFRS”). The accompanying separate financial statements have been translated into English from the Korean language separate financial statements.

The separate financial statements of the Company have been prepared in accordance with Korean IFRS. Korean IFRS are the standards and related interpretations issued by the International Accounting Standards Board (“IASB”) that have been adopted by the Republic of Korea.

The preparation of separate financial statements requires the use of certain critical accounting estimates. Management also needs to exercise judgment in applying the Company’s accounting policies. The areas that require more complex and higher level of judgment or areas that require significant assumptions and estimates are disclosed in Note 2.4.

The separate financial statements have been prepared in accordance with Korean IFRS No.1027 Separate Financial Statements.

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

2.1 Application of Korean IFRS (cont’d)

The Company’s condensed separate interim financial statements for the six-month period ended June 30, 2025, have been prepared in accordance with Korean IFRS No.1034 Interim Financial Reporting and contain less information than is required in annual separate financial statements. Selected explanatory notes include descriptions of transactions or events that are significant in understanding changes in the financial position and financial performance of the Company since the end of the previous annual reporting period. These separate interim financial statements have been prepared in accordance with Korean IFRS that is effective or early adopted as of June 30, 2025.

2.1.1 The Company has applied the following new and amended standards for the first time for its annual reporting period commencing on January 1, 2025.

Amendment of Korean IFRS No.1021 “The Effects of Changes in Foreign Exchange Rates” and Korean IFRS No.1101 “First-time Adoption of International Financial Reporting Standards” - Lack of exchangeability

The amendments require the Company to determine a spot exchange rate when exchangeability is lacking, and to disclose information on the nature and financial effects of the currency not being exchangeable into another currency, the spot exchange rate(s) used, the estimation process, and the risks to which the Company is exposed. These amendments do not have a significant impact on the financial statements.

2.1.2 The following are the accounting standards that have been established or announced but have not yet been implemented, which the Company has not applied

Amendment of Korean IFRS No.1109 “Financial Instruments” and No.1107 “Financial Instruments”

The amendments respond to recent questions arising in practice. These amendment will be applied to the financial statements for the accounting year beginning on or after January 1, 2026. These amendments do not have a significant impact on the financial statements.

clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system;

clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion;

add new disclosures for certain instruments with contractual terms that can change cash flows; and

update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI).

Korean IFRS Accounting Standards Annual Improvements Volume 11

•

Korean IFRS No.1101 “First-time adoption of International Financial Reporting Standards”: Hedge accounting by a first-time adopter

•

Korean IFRS No.1107 “Financial Instruments: Disclosures”: Gain or loss on derecognition, Application guidance

•

Korean IFRS No.1109 “Financial Instruments”: Derecognition of lease liabilities, Definition of transaction price

•

Korean IFRS No.1110 “Consolidated Financial Statements”: Determination of a ‘de facto agent’

•

Korean IFRS No.1007 “Statement of Cash Flows”: Cost method

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

2.2 Measurement Basis

The separate financial statements have been prepared under the historical cost convention unless otherwise specified.

2.3 Functional and Presentation Currency

Items included in the separate financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (“functional currency”). The separate financial statements are presented in Korean won, which is the Company’s functional and presentation currency.

2.4 Critical Accounting Estimates

The Company applies accounting policies and uses judgements, accounting estimates, and assumptions that may have a significant impact on the assets (liabilities) and incomes (expenses) in preparing the separate financial statements. Management’s estimates of outcomes may differ from actual outcomes if management’s estimates and assumptions based on management’s best judgment are different from the actual environment.

Estimates and underlying assumptions are continually evaluated, and changes in accounting estimates are recognized in the period in which the estimates are changed and in any future periods affected.

Uncertainties in estimates and assumptions with significant risks used in the preparation of these condensed separate interim financial statements are the same as 2024 financial statements, except for the method of estimating income tax expense.

3. Material Accounting Policies

The material accounting policies and calculation methods applied in the preparation of these condensed separate interim financial statements are the same as those applied to the separate financial statements for the year ended December 31, 2024, except for the impact of changes due to adopting new and amended standards and interpretations, as described in Note 2.1 and below paragraph.

The Company is subject to Pillar 2 income taxes, and has applied the temporary exemption provision regarding the recognition and disclosure of deferred taxes related to the Pillar 2 rules.

Income tax expense for the interim period is measured by applying the expected average annual income tax rate applicable on expected total annual income.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4. Financial Risk Management

4.1 Summary

4.1.1 Overview of financial risk management policy

The financial risks that the Company is exposed to are credit risk, market risk, liquidity risk and others.

This note regarding financial risk management provides information about the risks that the Company is exposed to and about its objectives, policies, risk assessment and management procedures, and capital management. Additional quantitative information is disclosed throughout the separate financial statements.

The Company’s risk management system focuses on efficiently supporting long-term strategy and management decisions of the Company by increasing risk transparency, preventing risk transfer between subsidiaries and preemptive response to rapidly changing financial environments. Credit risk, market risk, liquidity risk, operational risk, interest rate risk, insurance risk, credit concentration risk, strategy risk, and reputation risk are recognized as significant risks.

4.1.2 Risk management organization

4.1.2.1 Risk Management Committee

4.1.2.2 Risk Management Council

The Risk Management Council is responsible for consulting on matters delegated by the Risk Management Committee and requests for review by the Group Management Executive Committee, consulting on details of each subsidiary’s risk management policies and procedures, monitoring the Group’s risk management status, and establishing and implementing necessary measures.

4.1.2.3 Risk Management Department

The Risk Management Department performs the Company’s risk management detailed policies, procedures, and business processes, and is responsible for calculating the Group’s risk-weighted assets, monitoring and managing internal capital limits.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2 Credit Risk

4.2.1 Overview of credit risk

Credit risk is the risk of loss from a portfolio of assets held due to a counterparty’s default, breach of contract, and deterioration in credit quality. For risk management purposes, the Company considers the default risk of individual borrowers.

4.2.2 Credit risk management

The Company measures the expected losses on assets subject to credit risk management and uses them as a management indicator.

4.2.3 Maximum exposure to credit risk

The Company’s maximum exposures to credit risk without consideration of collateral values in relation to financial instruments other than equity securities as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Due from financial institutions		1,275,010		398,391
Loans measured at amortized cost *		359,054		359,054
Loans measured at fair value through profit or loss		55,951		53,952
Other financial assets *		55,329		48,614

		1,745,344		860,011

*	After netting of allowance

4.2.4 Credit risk of loans

The Company maintains allowances for loan losses associated with credit risk of loans to manage its credit risk.

The Company assesses expected credit losses and recognizes loss allowances of financial assets at amortized cost and financial assets at fair value through other comprehensive income. Financial assets at fair value through profit or loss are excluded. Expected credit losses are probability-weighted estimate of possible credit losses occurring within a certain range by reflecting reasonable and supportable information that is reasonably available at the end of the reporting period without undue cost or effort, including information about past events, current conditions, and forecasts of future economic conditions. The Company measures the expected credit losses on loans classified as financial assets at amortized cost, by deducting allowances for credit losses. The expected credit losses on loans classified as financial assets at fair value through other comprehensive income are presented in other comprehensive income in the financial statements.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.4 Credit risk of loans (cont’d)

Credit qualities of loans measured at amortized cost as of June 30, 2025 and December 31 2024, are classified as follows:

(In millions of Korean won)


	June 30, 2025
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
	12-month expected credit losses		Not impaired		Impaired		Not applying expected credit losses		Total
Loans measured at amortized cost *
Corporate
Grade 1		360,000		—		—		—		360,000
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—

		360,000		—		—		—		360,000

(In millions of Korean won)


	December 31, 2024
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
	12-month expected credit losses		Not impaired		Impaired		Not applying expected credit losses		Total
Loans measured at amortized cost *
Corporate
Grade 1		360,000		—		—		—		360,000
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—

		360,000		—		—		—		360,000

*	Before netting of allowance

Credit qualities of loans graded according to the probability of default as of June 30, 2025 and December 31 2024, are as follows:


		Range of probability of default (%)
Grade 1		0.0 ~ 1.0
Grade 2		1.0 ~ 5.0
Grade 3		5.0 ~ 15.0
Grade 4		15.0 ~ 30.0
Grade 5		30.0 ~

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.5 Credit risk of due from financial institutions

Credit qualities of due from financial institutions as of June 30, 2025, and December 31, 2024, are as follows:

(In millions of Korean won)


	June 30, 2025
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
	12-month expected credit losses		Not impaired		Impaired		Not applying expected credit losses		Total
Due from financial institutions measured at amortized cost
Grade 1		1,275,010		—		—		—		1,275,010
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—

		1,275,010		—		—		—		1,275,010

(In millions of Korean won)


	December 31, 2024
	12-month expected credit losses		Lifetime expected credit losses				Not applying expected credit losses		Total
	12-month expected credit losses		Not impaired		Impaired		Not applying expected credit losses		Total
Due from financial institutions measured at amortized cost
Grade 1		398,391		—		—		—		398,391
Grade 2		—		—		—		—		—
Grade 3		—		—		—		—		—
Grade 4		—		—		—		—		—
Grade 5		—		—		—		—		—

		398,391		—		—		—		398,391

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.2.6 Credit risk concentration analysis

4.2.6.1 Classifications of corporate loans by industry as of June 30, 2025, and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Corporate loans *		%		Allowances			Carrying amount
Financial institutions		415,951		100.00		(946	)		415,005

(In millions of Korean won)	December 31, 2024
	Corporate loans *		%		Allowances			Carrying amount
Financial institutions		413,952		100.00		(946	)		413,006

*	Amount includes loans measured at fair value through profit or loss and amortized cost.

4.2.6.2 Classifications of due from financial institutions by industry as of June 30, 2025, and December 31 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Amount		%		Allowances		Carrying amount
Due from financial institutions measured at amortized cost
Financial institutions		1,275,010		100.00		—		1,275,010

(In millions of Korean won)	December 31, 2024
	Amount		%		Allowances		Carrying amount
Due from financial institutions measured at amortized cost
Financial institutions		398,391		100.00		—		398,391

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.3 Liquidity Risk

4.3.1 Overview of liquidity risk

Liquidity risk is the risk that the Company becomes insolvent due to the mismatch between the inflow and outflow of funds, unexpected cash outflows, or a risk of loss due to financing funds at a high interest rate or disposing of securities at an unfavorable price due to lack of available funds. The Company manages its liquidity risk through analysis of the contractual maturity of all financial assets and liabilities and discloses in six categories such as on demand, less than one month, between one month to three months, between three months to one year, between one year to five years, and over five years.

4.3.2. Liquidity risk management

The liquidity risk is managed through risk management policies and liquidity risk management guidelines set forth in these policies that apply to all risk management policies and procedures that may arise throughout the overall business of the Company.

4.3.3. Analysis of remaining contractual maturity of financial liabilities

The cash flows disclosed in the maturity analysis are undiscounted contractual amounts including principal and future interest payments; as such, amounts in the table below do not match with those in the statements of financial position which are based on discounted cash flows (DCFs). The future interest payments for floating-rate liabilities are calculated on the assumption that the current interest rate is the same until maturity.

Remaining contractual maturity of financial liabilities as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	On Demand		Up to 1 month		1-3 months		3-12 months		1-5 years		Over 5 years		Total
Financial liabilities
Borrowings		—		200,000		—		—		—		—		200,000
Debentures		—		29,537		15,326		462,752		3,403,276		237,951		4,148,842
Lease liabilities		—		52		98		404		409		—		963
Other financial liabilities		—		8,956		—		11,562		—		—		20,518

		—		238,545		15,424		474,718		3,403,685		237,951		4,370,323


(In millions of Korean won)	December 31, 2024
	On Demand		Up to 1 month		1-3 months		3-12 months		1-5 years		Over 5 years		Total
Financial liabilities
Borrowings		—		—		365,000		600,000		—		—		965,000
Debentures		—		105,451		13,009		626,993		1,662,628		774,560		3,182,641
Lease liabilities		—		48		91		362		375		—		876
Other financial liabilities		—		2,088		462		—		—		—		2,550

		—		107,587		378,562		1,227,355		1,663,003		774,560		4,151,067

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

4.4 Market Risk

4.4.1 Concept

Market risk refers to risks that can result in losses due to changes in market factors such as interest rate, stock price, and foreign exchange rate, etc. The Company manages the market risks by dividing them into those arising from the trading position and those arising from the non-trading position.

4.4.2 Trading position

In accordance with Financial Holding Companies Act, the Company’s main business is to control financial companies or companies closely related to the financial service. And the Company cannot perform any other business other than managing activities as a holding company, therefore there is no risk of trading position.

4.4.3 Non-trading position

Non-trading position refers to the part except trading position, and the main risk the Company is managing is interest rate risk.

4.4.3.1 Interest rate risk

(a) Definition of interest rate risk

Interest rate risk refers to the risk of changes in the value (fair value) of the items in the statement of financial position due to changes in interest rate and the risk of changes in cash flows related to interest income and interest expense arising from investment and financing activities.

(b) Observation method and management indicator on interest rate risk

The main objective of interest rate risk management is to protect the value changes from interest rate fluctuations. In addition to the Interest Rate Risk in the Banking Book (“IRRBB”) standard methodology required for disclosure to measure interest rate risk.

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5. Financial Assets and Financial Liabilities

5.1 Classification and Fair Value of Financial Instruments

5.1.1 Carrying amount and fair value of financial assets and liabilities by category as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Carrying amount		Fair value
Financial assets
Financial assets at fair value through profit or loss
Hybrid securities		1,201,371		1,201,371
Beneficiary certificates		100,080		100,080
Loans		55,951		55,951
Financial assets at amortized cost
Due from financial institutions		1,275,010		1,275,010
Loans		359,054		359,054
Other financial assets		55,329		55,329

		3,046,795		3,046,795

Financial liabilities
Financial liabilities at amortized cost
Borrowings		200,000		200,000
Debentures		3,860,326		3,845,969
Other financial liabilities		33,134		33,134

		4,093,460		4,079,103


(In millions of Korean won)	December 31, 2024
	Carrying amount		Fair value
Financial assets
Financial assets at fair value through profit or loss
Hybrid securities		1,189,519		1,189,519
Loans		53,952		53,952
Financial assets at amortized cost
Due from financial institutions		398,391		398,391
Loans		359,054		359,054
Other financial assets		48,614		48,614

		2,049,530		2,049,530

Financial liabilities
Financial liabilities at amortized cost
Borrowings		965,000		965,000
Debentures		2,962,032		2,906,349
Other financial liabilities		11,402		11,402

		3,938,434		3,882,751

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Company discloses the fair value of each class of assets and liabilities in a way that permits it to be compared with its carrying amount at the end of each reporting period. The best evidence of fair value of financial instruments is quoted price in an active market.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.1.1 Carrying amount and fair value of financial assets and liabilities by category as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)

Methods of determining fair value of financial instruments are as follows:


Cash and due from financial institutions		Fair value of cash is same as carrying amount. Carrying amount of demand deposit and settlement deposit is a reasonable approximation of fair value because these financial instruments do not have a fixed maturity and are receivable on demand. Fair value of general deposit is measured using DCF Model.

Securities		Fair value of financial instruments that are quoted in an active market is determined using the quoted prices. If there is no quoted price, fair value is determined using external professional valuation institutions. The institutions use one or more valuation techniques that are deemed appropriate considering the characteristics of the financial instruments among DCF Model, Imputed Market Value Model, Free Cash Flow to Equity Model, Dividend Discount Model, Risk Adjusted Discount Rate Method, and Net Asset Value Method.

Derivatives		Fair value of exchange traded derivatives is determined using quoted price in an active market, and fair value of OTC derivatives is determined using valuation techniques. The Company uses internally developed valuation models that are widely used by market participants to determine fair value of plain vanilla OTC derivatives including options, interest rate swaps, and currency swaps, based on observable market parameters. However, some complex financial instruments are valued using appropriate models developed from generally accepted market valuation models including the Finite Difference Method (“FDM”), and the MonteCarlo Simulation or valuation results from independent external professional valuation institution.

Loans		Fair value of loans is determined using DCF model discounting the expected cash flows, which are contractual cash flows adjusted by the expected prepayment rate, at an appropriate discount rate.

Borrowings		DCF model is used to determine the fair value of borrowings, but in the case of short-term maturity, carrying amount is a reasonable approximation of fair value.

Debentures		Fair value is determined by using valuation results of external professional valuation institutions, which are calculated using market inputs.

Other financial assets and other financial liabilities		Carrying amount is a reasonable approximation of fair value because other financial assets and other financial liabilities are temporary accounts used for other various transactions and their maturities are either relatively short or not defined.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.1.2 Fair value hierarchy

The Company believes that valuation techniques used for measuring the fair value of financial instruments are reasonable and that the fair value recognized in the statements of financial position is appropriate. However, the fair value of the financial instruments recognized in the statements of financial position may be different if other valuation techniques or assumptions are used. Additionally, as there are a variety of valuation techniques and assumptions used in measuring fair value, it may be difficult to reasonably compare the fair value with that of other financial institutions.

The Company classifies and discloses fair value of the financial instruments into the three fair value levels as follows:


Level 1:		The fair values are based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.

Level 2:		The fair values are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3:		The fair values are based on unobservable inputs for the asset or liability.

5.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the statements of financial position

Fair value hierarchy of financial assets at fair value in the statements of financial position as of June 30, 2025 and December 31, 2024, is as follows:


(In millions of Korean won)	June 30, 2025
	Fair value hierarchy						Total
	Level 1		Level 2		Level 3		Total
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities		—		—		1,201,371		1,201,371
Beneficiary certificates		100,080		—		—		100,080
Loans		—		55,951		—		55,951

		100,080		55,951		1,201,371		1,357,402


(In millions of Korean won)	December 31, 2024
	Fair value hierarchy						Total
	Level 1		Level 2		Level 3		Total
Financial assets
Financial assets at fair value through profit or loss:
Hybrid securities		—		—		1,189,519		1,189,519
Loans		—		53,952		—		53,952

		—		53,952		1,189,519		1,243,471

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the statements of financial position (cont’d)

Valuation techniques and inputs of financial assets and liabilities classified as Level 2 and measured at fair value in the statements of financial position as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)

June 30, 2025

Fair value

Valuation
techniques

Inputs

Financial assets

Financial assets at fair value through profit or loss:

Loans

55,951

DCF model

Interest rate,

Discount
rate, etc.

(In millions of Korean won)

December 31, 2024

Fair value

Valuation
techniques

Inputs

Financial assets

Financial assets at fair value through profit or loss:

Loans

53,952

DCF model

Interest rate,

Discount
rate, etc.

5.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed

Fair value hierarchy of financial assets and liabilities whose fair value is disclosed as of June 30, 2025 and December 31, 2024, is as follows:


(In millions of Korean won)	June 30, 2025
	Fair value hierarchy
	Level 1		Level 2		Level 3		Total
Financial assets
Cash and due from financial institutions 1		—		1,275,010		—		1,275,010
Loans measured at amortized cost 2		—		—		359,054		359,054
Other financial assets 3		—		—		55,329		55,329

		—		1,275,010		414,383		1,689,393

Financial liabilities
Borrowings 4		—		200,000		—		200,000
Debentures		—		3,845,969		—		3,845,969
Other financial liabilities 3		—		—		33,134		33,134

		—		4,045,969		33,134		4,079,103

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed (cont’d)


(In millions of Korean won)	December 31, 2024
	Fair value hierarchy
	Level 1		Level 2		Level 3		Total
Financial assets
Cash and due from financial institutions 1		—		398,391		—		398,391
Loans measured at amortized cost 2		—		—		359,054		359,054
Other financial assets 3		—		—		48,614		48,614

		—		398,391		407,668		806,059

Financial liabilities
Borrowings 4		—		965,000		—		965,000
Debentures		—		2,906,349		—		2,906,349
Other financial liabilities 3		—		—		11,402		11,402

		—		3,871,349		11,402		3,882,751

1	Because due from financial institutions classified as Level 2 are deposits on demand and with remaining maturities of less than one year, carrying amounts are reasonable approximations of fair values.

2	Because loans measured at amortized cost classified as Level 3 are loans with residual maturity of less than one year, carrying amounts are reasonable approximations of fair values.

3	For other financial assets and other financial liabilities classified as Level 3, carrying amounts are reasonable approximations of fair values.

4	For borrowings classified as Level 2, carrying amount is reasonable approximations of fair value.

Financial assets and liabilities whose carrying amount is a reasonable approximation of fair value, valuation techniques and inputs are not disclosed.

Valuation techniques and inputs of financial assets and liabilities classified as Level 2, and whose fair value is disclosed as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)

Fair value

Valuation
techniques

Inputs

June 30,
2025

December 31,
2024

Financial liabilities

Debentures

3,845,969

2,906,349

DCF model

Discount rate

5.2 Disclosure of Fair Value Hierarchy Level 3

5.2.1 Valuation policy and process of Level 3 fair value

The Company uses external, independent and qualified valuation service to determine the fair value of financial instruments at the end of every reporting period.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.2.2 Changes in fair value (Level 3) measured using valuation technique based on unobservable inputs in the market

5.2.2.1 Changes in financial instruments classified as Level 3 of the fair value hierarchy for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025		2024
	Financial assets at fair value through profit or loss		Financial assets at fair value through profit or loss
Beginning		1,189,519		1,011,363
Total gains or losses:
- Profit or loss		11,852		14,550
- Other comprehensive income		—		—
Purchases		—		150,000
Sales		—		—
Issues		—		—
Settlements		—		—
Transfers into Level 3		—		—
Transfers out of Level 3		—		—

Ending		1,201,371		1,175,913

5.2.2.2 In relation to changes in financial instruments classified as Level 3 of the fair value hierarchy, total gains or losses recognized in profit or loss for the period, and total gains or losses recognized in profit or loss from financial instruments held at the end of the reporting period for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025						2024
	Gains on financial instruments at fair value through profit or loss		Other operating income		Net interest income		Gains on financial instruments at fair value through profit or loss		Other operating income		Net interest income
Total gains included in profit or loss for the period		11,852		—		—		14,550		—		—
Total gains for the period included in profit or loss for financial instruments held at the end of the reporting period		11,852		—		—		14,550		—		—

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.2.3 Sensitivity analysis of changes in unobservable inputs

5.2.3.1 Information about fair value measurements using unobservable inputs as of June 30, 2025 and December 31, 2024, is as follows:

(In millions of Korean won)

June 30, 2025

Fair value

Valuation
techniques

Inputs

Unobservable
inputs

Range of
unobservable
inputs (%)

Relationship
of
unobservable
inputs to fair
value

Financial assets

Financial assets at fair value through profit or loss:

Hybrid securities

1,201,371

Hull and White Model, MonteCarlo Simulation

Matrix YTM, Additional spread by grade, Risk spread of company, Valid credit rating, Disclosed information of securities, Estimated volatility of Interest rate

Discount rate

2.67 ~ 8.37

The lower the discount rate, the higher the fair value

Volatility of interest rate

0.55 ~ 0.62

The higher the volatility, the higher the fair value fluctuation

(In millions of Korean won)

December 31, 2024

Fair value

Valuation
techniques

Inputs

Unobservable
inputs

Range of
unobservable
inputs (%)

Relationship
of
unobservable
inputs to fair
value

Financial assets

Financial assets at fair value through profit or loss:

Hybrid securities

1,189,519

Hull and White Model, MonteCarlo Simulation

Matrix YTM, Additional spread by grade, Risk spread of company, Valid credit rating, Disclosed information of securities, Estimated volatility of Interest rate

Discount rate

3.41 ~ 8.45

The lower the discount rate, the higher the fair value

Volatility of interest rate

0.56 ~ 0.73

The higher the volatility, the higher the fair value fluctuation

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

5.2.3.2 Sensitivity analysis of changes in unobservable inputs

Results of the sensitivity analysis of changes in unobservable inputs as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)

June 30, 2025

Profit or loss

Other comprehensive
income or loss

Favorable
changes

Unfavorable
changes

Favorable
changes

Unfavorable
changes

Financial assets

Financial assets at fair value through profit or loss:

Hybrid securities *

5,390

(5,345

)

—

*	The changes in fair value are calculated by increasing or decreasing discount rates (2.67% ~ 8.37%) by 1%p, which are principal unobservable input parameters.

(In millions of Korean won)

December 31, 2024

Profit or loss

Other comprehensive
income or loss

Favorable
changes

Unfavorable
changes

Favorable
changes

Unfavorable
changes

Financial assets

Financial assets at fair value through profit or loss:

Hybrid securities *

7,351

(7,227

)

—

*	The changes in fair value are calculated by increasing or decreasing discount rates (3.41% ~ 8.45%) by 1%p, which are principal unobservable input parameters.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

6. Due from Financial Institutions

6.1 Details of due from financial institutions as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)		Financial Institution	Interest rate (%) as of June 30, 2025	June 30, 2025		December 31, 2024
Due from financial institutions in Korean won	Due from banks	Kookmin Bank	0.00 ~ 1.20		1,195,010		316,781
		KB Savings Bank Co., Ltd.	2.30 ~ 2.40		80,000		80,000
		Standard Chartered Bank	—		—		1,610

					1,275,010		398,391

6.2 Details of restricted due from financial institution as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)

Financial Institution

June 30,
2025

December 31,
2024

Reasons of restriction

Due from financial institutions in Korean won

Kookmin
Bank

Pledged as collateral for the overdraft account

7. Financial Assets at Fair Value through Profit or Loss

Details of financial assets at fair value through profit or loss as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Financial assets at fair value through profit or loss:
Hybrid securities		1,201,371		1,189,519
Beneficiary certificates		100,080		—
Loans		55,951		53,952

		1,357,402		1,243,471

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

8. Loans Measured at Amortized Cost

Details of loans measured at amortized cost as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Loans measured at amortized cost		360,000			360,000
Less: Allowances for loan losses		(946	)		(946	)

		359,054			359,054

9. Investments in Subsidiaries

9.1 Details of subsidiaries as of June 30, 2025, are as follows:


Name of subsidiaries	Industry	Location
Kookmin Bank	Banking and foreign exchange transaction	Korea
KB Securities Co., Ltd.	Financial investment	Korea
KB Insurance Co., Ltd.	Non-life insurance	Korea
KB Kookmin Card Co., Ltd.	Credit card and installment financial business	Korea
KB Life Insurance Co., Ltd.	Life insurance	Korea
KB Asset Management Co., Ltd.	Investment advisory and investment trust	Korea
KB Capital Co., Ltd.	Financial leasing	Korea
KB Real Estate Trust Co., Ltd.	Real estate trust management	Korea
KB Savings Bank Co., Ltd.	Savings banking	Korea
KB Investment Co., Ltd.	Capital investment	Korea
KB Data System Co., Ltd.	System software, development and supply	Korea

9.2 Details of investments in subsidiaries as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won, except for shares)	As of June 30, 2025				Carrying amount
Name of subsidiaries	Number of issued shares		Ownership (%)		June 30, 2025		December 31, 2024
Kookmin Bank		404,379,116		100.00		14,821,721		14,821,721
KB Securities Co., Ltd.		298,620,424		100.00		3,342,391		3,342,391
KB Insurance Co., Ltd.		66,500,000		100.00		2,375,430		2,375,430
KB Kookmin Card Co., Ltd.		92,000,000		100.00		1,953,175		1,953,175
KB Life Insurance Co., Ltd.		16,201,518		100.00		2,795,367		2,795,367
KB Asset Management Co., Ltd.		7,667,550		100.00		96,312		96,312
KB Capital Co., Ltd.		32,175,147		100.00		873,811		873,811
KB Real Estate Trust Co., Ltd.*		21,616,085		100.00		271,553		271,553
KB Savings Bank Co., Ltd.		8,001,912		100.00		176,813		176,813
KB Investment Co., Ltd.		22,525,328		100.00		154,910		154,910
KB Data System Co., Ltd.		800,000		100.00		6,334		6,334

						26,867,817		26,867,817

*	Investment in subsidiaries increased by 150,000 million due to the issuance of shares by KB Real Estate Trust Co., Ltd. during the twelve-month period ended December 31, 2024.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

10. Deferred Income Tax Assets and Liabilities

Details of deferred income tax assets and liabilities as June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Assets			Liabilities			Net amount
Share-based payments		7,144			—			7,144
Membership rights		242			—			242
Defined benefit obligation		2,603			—			2,603
Plan assets		—			(2,603	)		(2,603	)
Short-term employee benefits		967			—			967
Losses on valuation of financial assets at fair value through profit or loss		—			(5,655	)		(5,655	)
Others		632			(764	)		(132	)

		11,588			(9,022	)		2,566

Offsetting of deferred tax assets and liabilities		(9,022	)		9,022			—

		2,566			—			2,566


(In millions of Korean won)	December 31, 2024
	Assets			Liabilities			Net amount
Share-based payments		6,682			—			6,682
Membership rights		226			—			226
Defined benefit obligation		2,855			—			2,855
Plan assets		—			(2,855	)		(2,855	)
Short-term employee benefits		363			—			363
Gains or losses on valuation of financial assets at fair value through profit or loss		—			(2,513	)		(2,513	)
Others		1,203			(704	)		499

		11,329			(6,072	)		5,257

Offsetting of deferred tax assets and liabilities		(6,072	)		6,072			—

		5,257			—			5,257

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

11. Borrowings

11.1 Details of borrowings as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Borrowings		200,000		965,000

11.2 Details of borrowings as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)

Lenders

Borrowing date

Maturity date

Interest rate (%)
as of
June 30, 2025

June 30,
2025

December 31,
2024

Borrowings in Korean won

Other borrowings

KIWOOM SECURITIES co., Ltd.

Feb. 20, 2024

Feb. 18, 2025

—

200,000

Other borrowings

HANYANG SECURITIES co., Ltd.

Feb. 21, 2024

Feb. 19, 2025

—

65,000

Other borrowings

SK SECURITIES co., Ltd.

Mar. 21, 2024

Mar. 20, 2025

—

100,000

Other borrowings

KIWOOM SECURITIES co., Ltd.

Apr. 25, 2024

Apr. 24, 2025

—

100,000

Other borrowings

KIWOOM SECURITIES co., Ltd.

May. 29, 2024

May. 28, 2025

—

100,000

Other borrowings

SK SECURITIES co., Ltd.

Jun. 26, 2024

Jun. 25, 2025

—

200,000

Other borrowings

KIWOOM SECURITIES co., Ltd.

Jul. 29, 2024

Jul. 28, 2025

3.45

200,000

965,000

11.3 Maturities of borrowings as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Up to 3 months		3~6 months		6~12 months		1~3 years		Over 3 years		Total
Borrowings in Korean won		200,000		—		—		—		—		200,000


	December 31, 2024
	Up to 3 months		3~6 months		6~12 months		1~3 years		Over 3 years		Total
Borrowings in Korean won		365,000		400,000		200,000		—		—		965,000

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

12. Debentures

12.1 Details of debentures as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	Issuance date		Maturity date		Interest rate (%) as of June 30, 2025		June 30, 2025			December 31, 2024
Unguaranteed debentures No.15-3		May. 12, 2016		May. 12, 2026		2.01		200,000			200,000
Unguaranteed debentures No.18-3		Jul. 25, 2016		Jul. 25, 2026		1.69		80,000			80,000
Unguaranteed debentures No.19-3		Aug. 25, 2016		Aug. 25, 2026		1.69		120,000			120,000
Unguaranteed debentures No.25-4		May. 24, 2017		May. 24, 2027		2.62		80,000			80,000
Unguaranteed debentures No.28-3		Aug. 30, 2017		Aug. 30, 2027		2.60		60,000			60,000
Unguaranteed debentures No.31-3		Feb. 28, 2018		Feb. 28, 2028		3.02		60,000			60,000
Unguaranteed debentures No.32-3		Apr. 6, 2018		Apr. 6, 2028		2.86		20,000			20,000
Unguaranteed debentures No.33-2		Jun. 12, 2018		Jun. 12, 2028		2.92		30,000			30,000
Unguaranteed debentures No.34-3		Jul. 25, 2018		Jul. 25, 2025		2.71		20,000			20,000
Unguaranteed debentures No.34-4		Jul. 25, 2018		Jul. 25, 2028		2.76		20,000			20,000
Unguaranteed debentures No.36-3		Feb. 22, 2019		Feb. 22, 2029		2.22		60,000			60,000
Unguaranteed debentures No.37-2		Mar. 15, 2019		Mar. 15, 2029		2.16		70,000			70,000
Unguaranteed debentures No.38-1		Jun. 19, 2019		Jun. 19, 2026		1.73		80,000			80,000
Unguaranteed debentures No.38-2		Jun. 19, 2019		Jun. 19, 2029		1.77		120,000			120,000
Unguaranteed debentures No.39-2		Oct. 15, 2019		Oct. 15, 2029		1.67		40,000			40,000
Unguaranteed debentures No.40-2		Dec. 4, 2019		Dec. 4, 2029		1.87		30,000			30,000
Unguaranteed debentures No.41-2		Jan. 16, 2020		Jan. 16, 2025		1.74		—			100,000
Unguaranteed debentures No.41-3		Jan. 16, 2020		Jan. 16, 2030		1.88		40,000			40,000
Subordinated debentures No.1-1		Feb. 18, 2020		Feb. 18, 2030		2.21		370,000			370,000
Subordinated debentures No.1-2		Feb. 18, 2020		Feb. 18, 2035		2.26		30,000			30,000
Unguaranteed debentures No.42-1		May. 13, 2020		May. 13, 2025		1.59		—			130,000
Unguaranteed debentures No.42-2		May. 13, 2020		May. 13, 2030		1.78		70,000			70,000
Unguaranteed debentures No.43-2		Jun. 16, 2020		Jun. 16, 2025		1.44		—			110,000
Unguaranteed debentures No.43-3		Jun. 16, 2020		Jun. 16, 2030		1.63		50,000			50,000
Unguaranteed debentures No.44-4		Aug. 11, 2020		Aug. 11, 2027		1.39		20,000			20,000
Unguaranteed debentures No.46-2		Jan. 14, 2021		Jan. 14, 2026		1.43		30,000			30,000
Unguaranteed debentures No.46-3		Jan. 14, 2021		Jan. 14, 2028		1.62		10,000			10,000
Unguaranteed debentures No.46-4		Jan. 14, 2021		Jan. 14, 2031		1.84		100,000			100,000
Unguaranteed debentures No.48-2		Jun. 16, 2022		Jun. 16, 2025		4.27		—			240,000
Unguaranteed debentures No.48-3		Jun. 16, 2022		Jun. 16, 2027		4.34		80,000			80,000
Unguaranteed debentures No.48-4		Jun. 16, 2022		Jun. 16, 2032		4.40		95,000			95,000
Unguaranteed debentures No.49-1		Oct. 31, 2024		Oct. 31, 2025		3.31		80,000			80,000
Unguaranteed debentures No.49-2		Oct. 31, 2024		Oct. 31, 2026		3.30		220,000			220,000
Unguaranteed debentures No.49-3		Oct. 31, 2024		Oct. 31, 2027		3.28		100,000			100,000
Unguaranteed debentures No.50-1		Jan. 24, 2025		Jan. 22, 2027		2.92		200,000			—
Unguaranteed debentures No.50-2		Jan. 24, 2025		Jan. 24, 2028		2.92		100,000			—
Unguaranteed debentures No.51-1		Feb. 25, 2025		Feb. 25, 2027		2.86		50,000			—
Unguaranteed debentures No.51-2		Feb. 25, 2025		Feb. 25, 2028		2.92		250,000			—
Unguaranteed debentures No.52-1		Mar. 24, 2025		Mar. 24, 2027		2.85		60,000			—
Unguaranteed debentures No.52-2		Mar. 24, 2025		Mar. 24, 2028		2.87		170,000			—
Unguaranteed debentures No.53-1		Apr. 28, 2025		Apr. 28, 2027		2.66		130,000			—
Unguaranteed debentures No.53-2		Apr. 28, 2025		Apr. 28, 2028		2.67		220,000			—
Unguaranteed debentures No.54-1		May. 26, 2025		May. 26, 2027		2.58		100,000			—
Unguaranteed debentures No.54-2		May. 26, 2025		May. 26, 2028		2.63		200,000			—

								3,865,000			2,965,000
				Less: Bond Discounts				(4,674	)		(2,968	)

								3,860,326			2,962,032

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

12.2 Maturities of debentures as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025
	Up to 3 months		3~6 months		6~12 months		1~3 years		Over 3 years		Total
Debentures in Korean won		20,000		80,000		310,000		2,360,000		1,095,000		3,865,000


(In millions of Korean won)	December 31, 2024
	Up to 3 months		3~6 months		6~12 months		1~3 years		Over 3 years		Total
Debentures in Korean won		100,000		480,000		100,000		1,070,000		1,215,000		2,965,000

12.3 Changes in debentures based on par value for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Beginning		Issue		Repayment			Ending
Debentures in Korean won		2,965,000		1,480,000		(580,000	)		3,865,000


(In millions of Korean won)	2024
	Beginning		Issue		Repayment			Ending
Debentures in Korean won(*)		3,880,000		—		(895,000	)		2,985,000

*	Exchangeable bonds amounting to 240,000 million were redeemed on February 14, 2024, due to the exercise of exchange right.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

13. Net Defined Benefit Liabilities (Assets)

13.1 Defined Benefit Plan

The Company operates defined benefit plans which have the following characteristics:

The Company has the obligation to pay the agreed benefits to all its current and former employees.

The Company assumes actuarial risk (that benefits will cost more than expected) and investment risk.

The net defined benefit liabilities recognized in the statements of financial position are calculated in accordance with actuarial valuation method using assumptions based on market data and historical data such as discount rate, future salary increase rate, and mortality. Actuarial assumptions may differ from actual results, due to changes in the market conditions, economic trends, and mortality trends.

13.2 Details of the net defined benefit liabilities as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Present value of defined benefit obligation		21,370			21,597
Fair value of plan assets		(23,446	)		(24,499	)

Net defined benefit liabilities (assets)		(2,076	)		(2,902	)

13.3 Details of post-employment benefits recognized in profit or loss for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Current service cost		949			905
Net interest expense(income) on net defined benefit liabilities		(52	)		(78	)

Post-employment benefits		897			827

(*)	The gains or losses related to the defined benefit pension plan are fully included in general administrative expenses.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

14. Equity

14.1 Share Capital

14.1.1 Details of share capital as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Type of share		Ordinary share		Ordinary share
Number of authorized shares		1,000,000,000		1,000,000,000
Par value per share (in Korean won)		5,000		5,000
Number of issued shares		381,462,103		393,528,423
Share capital *		2,090,558		2,090,558

*	Due to the retirement of shares deducted through retained earnings, it is different from the total par value of the shares issued.

14.1.2 Changes in shares for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In number of shares)	2025			2024
Beginning		373,600,719			378,663,825
Increase		—			5,000,000
Decrease		(9,448,744	)		(4,398,135	)

Ending		364,151,975			379,265,690

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

14.2 Hybrid Securities

Details of hybrid securities classified as equity as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)


Hybrid securities	Issuance date	Maturity	Interest rate (%) as of June 30, 2025		June 30, 2025		December 31, 2024
The 1-2nd	May. 2, 2019	Perpetual bond		3.44		49,881		49,881
The 2-1st *	May. 8, 2020	Perpetual bond		3.30		—		324,099
The 2-2nd	May. 8, 2020	Perpetual bond		3.43		74,812		74,812
The 3-1st	Jul. 14, 2020	Perpetual bond		3.17		369,099		369,099
The 3-2nd	Jul. 14, 2020	Perpetual bond		3.38		29,922		29,922
The 4-1st	Oct. 20, 2020	Perpetual bond		3.00		433,918		433,918
The 4-2nd	Oct. 20, 2020	Perpetual bond		3.28		64,843		64,843
The 5-1st	Feb. 19, 2021	Perpetual bond		2.67		419,056		419,056
The 5-2nd	Feb. 19, 2021	Perpetual bond		2.87		59,862		59,862
The 5-3rd	Feb. 19, 2021	Perpetual bond		3.28		119,727		119,727
The 6-1st	May. 28, 2021	Perpetual bond		3.20		165,563		165,563
The 6-2nd	May. 28, 2021	Perpetual bond		3.60		109,708		109,708
The 7-1st	Oct. 8, 2021	Perpetual bond		3.57		208,453		208,453
The 7-2nd	Oct. 8, 2021	Perpetual bond		3.80		59,834		59,834
The 8-1st	Feb. 16, 2022	Perpetual bond		4.00		442,955		442,955
The 8-2nd	Feb. 16, 2022	Perpetual bond		4.30		155,626		155,626
The 9-1st	May. 12, 2022	Perpetual bond		4.68		478,814		478,814
The 9-2nd	May. 12, 2022	Perpetual bond		4.97		19,906		19,906
The 10-1st	Aug. 26, 2022	Perpetual bond		4.90		407,936		407,936
The 10-2nd	Aug. 26, 2022	Perpetual bond		5.15		70,819		70,819
The 10-3rd	Aug. 26, 2022	Perpetual bond		5.30		19,944		19,944
The 11-1st	Feb. 3, 2023	Perpetual bond		4.90		548,666		548,666
The 11-2nd	Feb. 3, 2023	Perpetual bond		5.03		49,871		49,871
The 12th	Feb. 28, 2024	Perpetual bond		4.39		399,045		399,045
The 13th	Jan. 22, 2025	Perpetual bond		4.00		404,013		—

						5,162,273		5,082,359

*	The 2-1 Subordinated Contingent Capital Securities of KB Financial Group, amounting to 325,000 million, were fully redeemed through the exercise of a call option on May 8, 2025.

The above hybrid securities are early redeemable by the Company after 5 or 7 or 10 years from the issuance date.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

14.3 Capital Surplus

Details of capital surplus as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Paid-in capital in excess of par value		13,190,275		13,190,275
Other capital surplus		1,472,678		1,473,579
Gains on sales of treasury shares		90,621		90,621

		14,753,574		14,754,475

14.4 Accumulated Other Comprehensive Income (Loss)

Details of accumulated other comprehensive income (loss) as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Remeasurements of net defined benefit liabilities		(8,291	)		(8,316	)

14.5 Retained Earnings

14.5.1 Details of retained earnings as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Legal reserves		1,436,869		1,219,810
Voluntary reserves		982,000		982,000
Regulatory reserve for credit losses		5,411		4,061
Unappropriated retained earnings		2,631,098		2,099,671

		5,055,378		4,305,542

With respect to the allocation of net profit earned in a fiscal term, the Company must set aside in its legal reserve an amount equal to at least 10% of its profit after tax as reported in the financial statements, each time it pays dividends on its net profits earned until its legal reserve reaches the aggregate amount of its share capital in accordance with Article 53 of the Financial Holding Company Act. The reserve is not available for the payment of cash dividends, but may be transferred to share capital, or used to reduce accumulated deficit.

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

14.5.2 Regulatory reserve for credit losses

Measurement and disclosure of regulatory reserve for credit losses are required in accordance with Articles 26 through 28 of the Regulations on Supervision of Financial Holding Companies.

14.5.2.1 Details of regulatory reserve for credit losses as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025		December 31, 2024
Amounts before appropriation		5,411		4,061
Amounts estimated to be appropriated (reversed)		250		1,350

		5,661		5,411

14.5.2.2 Regulatory reserve for credit losses estimated to be appropriated (reversed) and adjusted profit after provision (reversal) of regulatory reserve for credit losses for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won, except for per share amounts)	2025					2024
(In millions of Korean won, except for per share amounts)	Three months			Six months		Three months			Six months
Regulatory reserve for credit losses estimated to be appropriated (reversed)		(2,665	)		250		(1,829	)		834
Adjusted profit (loss) after provision (reversal) of regulatory reserve for credit losses 1,2		(77,313	)		2,196,731		(63,191	)		2,108,694
Adjusted basic earnings (loss) per share after provision (reversal) of regulatory reserve for credit losses 1		(211	)		5,954		(166	)		5,539
Adjusted diluted earnings (loss) per share after provision (reversal) of regulatory reserve for credit losses 1		(209	)		5,900		(165	)		5,468

1	Adjusted profit (loss) after provision (reversal) of regulatory reserve for credit losses is not based on Korean IFRS. It is calculated by reflecting provision (reversal) of regulatory reserve for credit losses before tax to the net profit for the period.

2	After deducting dividends on hybrid securities

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

14.6 Treasury Shares

Changes in treasury shares for the six-month periods ended June 30, 2025 and 2024, are as follows:

(In millions of Korean won except for number of shares)


	2025
	Beginning		Acquisition		Retirement			Ending
Number of treasury shares		19,927,704		9,448,744		(12,066,320	)		17,310,128

Carrying amount		1,236,060		820,000		(814,522	)		1,241,538


	2024
	Beginning		Acquisition		Disposal			Ending
Number of treasury shares *		24,847,247		4,398,135		(5,000,000	)		24,245,382

Carrying amount		1,165,837		320,000		(234,600	)		1,251,237

*	5 million treasury shares deposited at the Korea Securities Depository for the exchange of exchangeable bonds were disposed on February 14, 2024, due to the exercise of exchange right.

On May 15, 2025, the Company retired 4,575,874 shares (400,000 million), 1,089,097 shares (100,000 million) and 6,401,349 shares (520,000 million) of treasury shares, which were acquired in accordance with the resolutions of the Board of Directors on July 23, 2024, October 24, 2024, and February 5, 2025, respectively. In addition, the Company plans to retire 3,047,395 shares (300,000 million) of treasury shares on January 15, 2026, which were acquired in accordance with the resolution of the Board of Directors on April 24, 2025.

15. Dividends

The annual dividends to the shareholders of the Company for the year ended December 31, 2024 amounting to 298,285 million (804 per share) were declared at the annual general shareholders’ meeting on March 26, 2025 and was paid on April 15, 2025. In addition, a quarterly dividend of 334,339 million (912 per share), with a record date of May 12, 2025, was declared by the Board of Directors on April 24, 2025, and was paid on May 22, 2025. Meanwhile, the annual dividends to the shareholders of the Company for the year ended December 31, 2023 and quarterly dividend paid in 2024 were 587,006 million (1,530 per share) and 899,972 million, respectively.

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

16. Net Interest Expense

Details of interest income, interest expense, and net interest expense for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025						2024
	Three months			Six months			Three months			Six months
Interest income
Due from financial institutions		6,727			8,638			6,479			9,925
Loans measured at amortized cost		2,544			4,977			5,012			9,406
Loans measured at fair value through profit or loss		1,016			1,858			701			1,403
Others		262			603			354			1,629

		10,549			16,076			12,546			22,363

Interest expense
Borrowings		4,273			11,779			5,566			7,804
Debentures		25,932			47,108			19,281			40,574
Others		9			18			11			22

		30,214			58,905			24,858			48,400

Net interest expense		(19,665	)		(42,829	)		(12,312	)		(26,037	)

17. Net Fee and Commission Expense

Details of fee and commission income, fee and commission expense, and net fee and commission expense for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025						2024
	Three months			Six months			Three months			Six months
Fee and commission income
Fees earned in Korean won		518			990			616			994

Fee and commission expense
Fees paid in Korean won		2,029			4,087			3,040			4,377
Fees paid in foreign currency		42			246			—			183

		2,071			4,333			3,040			4,560

Net fee and commission expense		(1,553	)		(3,343	)		(2,424	)		(3,566	)

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

18. Net Gains or Losses on Financial Instruments at Fair value through Profit or Loss

Details of net gains or losses on financial assets at fair value through profit or loss for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025				2024
	Three months		Six months		Three months			Six months
Gains on financial instruments at fair value through profit or loss
Dividend income from financial assets at fair value through profit or loss		16,608		33,024		13,422			27,006
Gains on valuation of financial assets at fair value through profit or loss		4,479		13,012		14,017			16,180
Gains on disposal of financial assets at fair value through profit or loss		531		1,033		—			148
Other income from financial assets at fair value through profit or loss		1,001		1,001		—			—

		22,619		48,070		27,439			43,334

Losses on financial instruments at fair value through profit or loss
Losses on valuation of financial assets at fair value through profit or loss		—		—		(316	)		—
Losses on disposal of financial assets at fair value through profit or loss		158		158		—			—

		158		158		(316	)		—

Net gains on financial instruments at fair value through profit or loss		22,461		47,912		27,755			43,334

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

19. Net Other Operating Income and Expenses

Details of other operating income and expenses for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025				2024
	Three months		Six months		Three months		Six months
Other operating income
Dividend income from subsidiaries		—		2,355,586		—		2,243,250

		—		2,355,586		—		2,243,250

Net other operating income		—		2,355,586		—		2,243,250

20. General and Administrative Expenses

20.1 Details of general and administrative expenses for the three-month and six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025				2024
	Three months		Six months		Three months		Six months
Expenses related to employee
Employee benefits - salaries		7,218		16,110		8,511		17,241
Employee benefits - others		1,111		2,114		1,300		2,338
Post-employment benefits - defined benefit plans		449		897		417		827
Post-employment benefits - defined contribution plans		—		—		—		4
Share-based payments		9,893		10,651		4,373		8,946

		18,671		29,772		14,601		29,356

Depreciation and amortization		1,426		2,799		1,389		2,915

Other general and administrative expenses
Travel		359		697		281		370
Communications		346		462		311		574
Tax and dues		108		420		121		350
Publication		79		137		112		159
Rental expense		547		1,112		718		1,137
Vehicle		31		51		38		60
Service fees		4,272		9,730		3,879		7,755
Advertising		23		404		86		507
Training		182		448		247		475
Others		2,121		4,301		2,060		4,372

		8,068		17,762		7,853		15,759

		28,165		50,333		23,843		48,030

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

20.2 Share-based Payments

Share-based payments plans for executives and employees of the Company and its subsidiaries as of June 30, 2025, are as follows:

20.2.1 Stock grants linked to long-term performance


(In number of shares)	Grant date	Number of granted shares 1		Vesting conditions 2
KB Financial Group Inc.
Series 38	Nov. 21, 2023		55,547	Services fulfillment, market performance 3 35%, and non-market performance 5 65%
Series 39	Jan. 1, 2024		47,839	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 40	Feb. 1, 2024		511	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 41	Apr. 6, 2024		6,450	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 43	Jan. 1, 2025		37,073	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Series 44	Apr. 7, 2025		5,540	Services fulfillment, market performance 3 30%, and non-market performance 4 70%
Deferred grant in 2015			1,063	Satisfied
Deferred grant in 2020			40	Satisfied
Deferred grant in 2022			13,239	Satisfied
Deferred grant in 2023			59,942	Satisfied
Deferred grant in 2024			25,541	Satisfied

			252,785

Kookmin Bank
Series 96	Jan. 1, 2024		214,028	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100% Services fulfillment, market performance 3 30%, and non-market performance 6 70%
Series 97	Feb. 1, 2024		2,045	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 98	Apr. 22, 2024		2,959	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 99	Jul. 5, 2024		4,926	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 101	Aug, 24, 2024		4,453	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100%
Series 102	Jan. 1, 2025		188,401	Services fulfillment, market performance 3 0~30%, and non-market performance 4 70~100% Services fulfillment, market performance 3 30%, and non-market performance 6 70%
Deferred grant in 2022			29,628	Satisfied
Deferred grant in 2023			93,893	Satisfied
Deferred grant in 2024			118,288	Satisfied

			658,621

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

20.2.1 Stock grants linked to long-term performance (cont’d)


(In number of shares)	Grant date	Number of granted shares 1		Vesting conditions 2
Other subsidiaries
Stock granted in 2012			160
Stock granted in 2013			219
Stock granted in 2014			1,028
Stock granted in 2015			1,155
Stock granted in 2017			3,955
Stock granted in 2018			11,044
Stock granted in 2019			13,255
Stock granted in 2020			25,783	Services fulfillment,
Stock granted in 2021			18,692	market performance 3 0~50%, and
Stock granted in 2022			79,498	non-market performance 4 50~100%
Stock granted in 2023			119,168
Stock granted in 2024			429,364
Stock granted in 2025			207,620

			910,941

			1,822,347

1	Granted shares represent the total number of shares initially granted to executives and employees who have residual shares as of June 30, 2025 (Deferred grants are residual shares vested as of June 30, 2025).

3	Relative TSR (Total Shareholder Return): [(Fair value at the end of the contract - Fair value at the beginning of the contract) + (Total amount of dividend per share paid during the contract period)] / Fair value at the beginning of the contract

4	Performance results of company and employee

5	EPS (Earnings Per Share), Asset Quality, HCROI (Human Capital Return On Investment), and Non-bank segment profit

6	EPS, Asset Quality

The stock grant linked to long-term performance is an incentive plan that sets, on grant date, the maximum number of shares that can be awarded. The actual number of shares to be granted is determined in accordance with achievement of pre-set performance targets over the vesting period.

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

20.2.2 Stock grants linked to short-term performance


(In number of shares)	Estimated number of vested shares *		Vesting conditions
KB Financial Group Inc.
Stock granted in 2015		541	Satisfied
Stock granted in 2016		1,558	Satisfied
Stock granted in 2020		78	Satisfied
Stock granted in 2022		14,653	Satisfied
Stock granted in 2023		27,960	Satisfied
Stock granted in 2024		23,462	Satisfied
Stock granted in 2025		8,733	Proportional to service period
Kookmin Bank
Stock granted in 2022		54,465	Satisfied
Stock granted in 2023		118,731	Satisfied
Stock granted in 2024		98,232	Satisfied
Stock granted in 2025		32,828	Proportional to service period
Other subsidiaries
Stock granted in 2015		1,289	Satisfied
Stock granted in 2016		7,290	Satisfied
Stock granted in 2017		20,121	Satisfied
Stock granted in 2018		51,583	Satisfied
Stock granted in 2019		41,130	Satisfied
Stock granted in 2020		48,423	Satisfied
Stock granted in 2021		81,625	Satisfied
Stock granted in 2022		202,086	Satisfied
Stock granted in 2023		409,430	Satisfied
Stock granted in 2024		421,073	Satisfied
Stock granted in 2025		58,257	Proportional to service period

		1,723,548

Share-based payments arrangement for subsidiaries was transferred to the Company in 2010, and the related compensation cost paid to the executives and employees of subsidiaries is reimbursed by subsidiaries. The accrued expenses for share-based payments as of June 30, 2025 and December 31, 2024, are 310,342 million and 295,867 million, respectively, and the receivables to be reimbursed by subsidiaries for the compensation costs as of June 30, 2025 and December 31, 2024, are 283,281 million and 270,558 million, respectively. And compensation costs from share-based payments amounting to 10,651 million and 8,946 million were recognized for the six-month periods ended June 30, 2025 and 2024, respectively.

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

21. Income Tax Benefit (Expense)

Details of income tax benefit (expense) for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025			2024
Income tax payable		—			—
Changes in deferred tax assets and liabilities		(2,691	)		1,331
Origination and reversal of temporary differences		(2,691	)		1,331
Income tax recognized directly in equity		9			201
Remeasurements of net defined benefit liabilities		9			13
Consideration for exchange right of exchangeable bonds		—			188
Others		(3,899	)		—

Income tax benefit (expense)		(6,581	)		1,532

22. Earnings per Share

22.1 Basic Earnings per Share

Basic earnings per share is calculated from the earnings attributable to ordinary shares.

22.1.1 Weighted average number of ordinary shares outstanding


(In number of shares)	2025						2024
	Three months			Six months			Three months			Six months
Number of issued ordinary shares		381,462,103			381,462,103			403,511,072			403,511,072
Number of treasury shares*		(17,310,128	)		(17,310,128	)		(24,245,382	)		(24,245,382	)

Weighted average number of ordinary shares outstanding		365,983,134			368,976,986			380,328,992			380,717,562

*	The effective date of treasury shares that were deducted through retirement for the six-month periods ended June 30, 2025, is May 15, 2025.

22.1.2 Basic earnings per share


(In Korean won except for number of shares)	2025
	Three months			Six months
(Loss)profit for the period		(26,293,790,911	)		2,300,298,974,393
Deduction: Dividends on hybrid securities		(53,684,075,000	)		(103,318,150,000	)

(Loss)profit attributable to the ordinary equity holders (A)		(79,977,865,911	)		2,196,980,824,393
Weighted average number of ordinary shares outstanding (B)		365,983,134			368,976,986

Basic earnings (loss) per share (A/B)		(219	)		5,954


(In Korean won except for number of shares)	2024
	Three months			Six months
(Loss)profit for the period		(12,559,619,295	)		2,210,058,904,210
Deduction: Dividends on hybrid securities		(52,460,325,000	)		(100,530,650,000	)

(Loss)profit attributable to the ordinary equity holders (A)		(65,019,944,295	)		2,109,528,254,210
Weighted average number of ordinary shares outstanding (B)		380,328,992			380,717,562

Basic (loss)earnings per share (A/B)		(171	)		5,541

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

22.2 Diluted Earnings per Share

Diluted earnings per share is calculated through increasing the weighted average number of ordinary shares outstanding by the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. The Company has dilutive potential ordinary shares such as stock grants and ordinary share exchange right of exchangeable bonds.

A calculation is done to determine the number of shares that could have been acquired at fair value (determined as the average market share price for the year) based on the monetary value of stock grants. The number of shares calculated above is compared with the number of shares that would have been issued assuming the settlement of stock grants.

22.2.1 Adjusted profit for diluted earnings per share


(In Korean won)	2025
	Three months			Six months
(Loss)profit attributable to the ordinary equity holders *		(79,977,865,911	)		2,196,980,824,393
Adjustment:
Interest expense on exchangeable bonds		—			—

Adjusted (loss)profit for diluted (loss)earnings per share		(79,977,865,911	)		2,196,980,824,393


(In Korean won)	2024
	Three months			Six months
(Loss)profit attributable to the ordinary equity holders *		(65,019,944,295	)		2,109,528,254,210
Adjustment:
Interest expense on exchangeable bonds		—			306,631,690

Adjusted (loss)profit for diluted (loss)earnings per share		(65,019,944,295	)		2,109,834,885,900

*	The amount is after deducting dividends on hybrid securities.

22.2.2 Weighted average number of ordinary shares outstanding for diluted earnings per share


(In number of shares)	2025				2024
	Three months		Six months		Three months		Six months
Weighted average number of ordinary shares outstanding		365,983,134		368,976,986		380,328,992		380,717,562
Adjustment:
Stock grants		3,055,324		3,367,388		3,472,695		3,750,719
Exchangeable bonds		—		—		—		1,208,791

Adjusted weighted average number of ordinary shares outstanding for diluted earnings per share		369,038,458		372,344,374		383,801,687		385,677,072

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

22.2.3 Diluted earnings per share


(In Korean won except for number of shares)	2025
	Three months			Six months
Adjusted profit (loss) for diluted earnings (loss) per share		(79,977,865,911	)		2,196,980,824,393
Adjusted weighted average number of ordinary shares outstanding for diluted earnings per share		369,038,458			372,344,374

Diluted (loss)earnings per share		(217	)		5,900


(In Korean won except for number of shares)	2024
	Three months			Six months
Adjusted (loss)profit for diluted (loss)earnings per share		(65,019,944,295	)		2,109,834,885,900
Adjusted weighted average number of ordinary shares outstanding for diluted earnings (loss) per share		383,801,687			385,677,072

Diluted (loss)earnings per share		(169	)		5,470

23. Statement of Cash Flows

23.1 Details of cash and cash equivalents as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)	June 30, 2025			December 31, 2024
Due from financial institutions		1,275,010			398,391
Deduction:
Restricted due from financial institutions		(3	)		(3	)
Due from financial institutions with original maturities over three months		(80,000	)		(80,000	)

		(80,003	)		(80,003	)

		1,195,007			318,388

23.2 Cash inflows and outflows from income tax, interest, and dividends for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	Activity	2025		2024
Income tax paid	Operating		5,670		4,626
Interest received	Operating		11,387		13,226
Interest paid	Operating		42,505		69,205
Dividends received	Operating		2,388,814		2,270,466
Dividends paid	Financing		735,941		987,623

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

24. Contingent Liabilities and Commitments

24.1 Commitments made with financial institutions as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)		June 30, 2025				December 31, 2024
		Amount of commitments		Amount borrowed		Amount of commitments		Amount borrowed
General loan	Hana Bank		200,000		—		200,000		—
General loan	Shinhan Bank		200,000		—		200,000		—
General loan	NongHyup Bank		300,000		—		300,000		—

24.2 Other Matters (including litigation)

The Company has no ongoing lawsuits in which it is a defendant as of June 30, 2025.

25. Related Party Transactions

According to Korean IFRS No.1024, the Company includes subsidiaries and key management personnel (including family members) in the scope of related parties. The Company discloses balances (receivables and payables) and other amounts arising from transactions with related parties in the notes to the financial statements. Refer to Note 9 for details of subsidiaries. Key management personnel include the executives of the Company, their close family members, and the companies where the executives and/or their close family members have control or joint control.

25.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2025 and 2024 are as follows:


(In millions of Korean won)

Subsidiaries	Profit or loss	2025		2024
Kookmin Bank	Interest income		8,001		7,529
	Fee and commission income		590		650
	Net other operating income 1		1,625,587		1,467,896
	General and administrative expenses		7,206		5,914
KB Securities Co., Ltd.	Interest expense		37		—
	Fee and commission income		34		46
	Net gains on financial assets at fair value through profit or loss		19,424		23,992
	Net other operating income 1		280,000		150,000
	General and administrative expenses		560		338
KB Insurance Co., Ltd.	Fee and commission income		36		49
	General and administrative expenses		1,151		834
	Net other operating income 1		299,982		249,974
KB Kookmin Card Co., Ltd.	Fee and commission income		12		11
	Net other operating income 1		—		185,380
	General and administrative expenses		614		187
	Net non-operating income		2		2
KB Life Insurance Co., Ltd.	Fee and commission income		8		18
	Net other operating income 1		130,000		150,000
	General and administrative expenses		506		593

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KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

25.1 Details of significant profit or loss arising from transactions with related parties for the six-month periods ended June 30, 2025 and 2024 are as follows: (cont’d)


(In millions of Korean won)

Subsidiaries	Profit or loss	2025		2024
KB Asset Management Co., Ltd.	Net other operating income 1		20,000		40,000
	General and administrative expenses		103		37
KB Capital Co., Ltd	Interest income		—		2,463
	Fee and commission income		7		6
	Net gains on financial assets at fair value through profit or loss		17,254		17,310
	General and administrative expenses		72		62
	Provision for credit losses		—		6
KB Real Estate Trust. Co., Ltd.	Interest income		—		2,031
	Net gains on financial assets at fair value through profit or loss		8,199		255
	General and administrative expenses		109		—
	Provision for credit losses		—		333
KB Savings Bank Co., Ltd.	Interest income		1,878		2,866
	Fee and commission income		1		1
	Net gains on financial assets at fair value through profit or loss		1,109		1,630
KB Investment Co., Ltd.	Interest income		4,977		4,783
	Provision for credit losses		6		6
KB Data Systems Co., Ltd.	General and administrative expenses		1,643		1,724

1	Net other operating income includes dividend income from subsidiaries.

25.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows:


(In millions of Korean won)
Subsidiaries	Assets or liabilities	June 30, 2025		December 31, 2024
Kookmin Bank	Cash and due from financial institutions		1,195,010		316,781
	Other assets		592,300		468,023
	Other liabilities		5,858		20
	Property and equipment		694		237
KB Securities Co., Ltd.	Financial assets at fair value through profit or loss		546,857		540,683
	Other assets		112,487		100,494
	Other liabilities		74,657		—
KB Insurance Co., Ltd.	Other assets		37,175		143,520
	Other liabilities		9,900		46
KB Kookmin Card Co., Ltd.	Other assets		88,659		78,634
	Other liabilities		1,134		895
KB Life Insurance Co., Ltd.	Other assets		12,470		14,235
	Other liabilities		81,793		69,132
KB Asset Management Co., Ltd.	Other assets		31,579		25,549
	Other liabilities		103		—
KB Capital Co., Ltd.	Financial assets at fair value through profit or loss		498,783		495,454
	Other assets		39,769		48,285
	Other liabilities		77		11

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

25.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of June 30, 2025 and December 31, 2024, are as follows: (cont’d)


(In millions of Korean won)
Subsidiaries	Assets or liabilities	June 30, 2025		December 31, 2024
KB Real Estate Trust Co., Ltd.	Financial assets at fair value through profit or loss		155,731		153,382
	Other assets		11,147		4,431
	Other liabilities		109		—
KB Savings Bank Co., Ltd.	Cash and due from financial institutions		80,000		80,000
	Financial assets at fair value through profit or loss		55,951		53,951
	Other assets		3,862		3,960
	Other liabilities		164		808
KB Investment Co., Ltd.	Loans measured at amortized cost (gross amount)		360,000		360,000
	Allowances for credit losses		946		946
	Other assets		9,920		6,794
	Other liabilities		3		1,244
KB Data Systems Co., Ltd.	Property and equipment		—		76
	Intangible assets		371		427
	Other assets		3,920		4,274
	Other liabilities		236		250

25.3 Right-of-use assets and lease liabilities with related parties as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)

June 30,
2025

December 31,
2024

Subsidiary

Kookmin Bank

Right-of-use assets

694

237

25.4 Credit card commitments provided from related parties as of June 30, 2025 and December 31, 2024, are as follows:

(In millions of Korean won)

June 30,
2025

December 31,
2024

Subsidiary

KB Kookmin Card Co., Ltd.

Lines of credit for credit card

39,000

3,000

25.5 Share transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)			2025		2024
Subsidiary	KB Real Estate Trust Co., Ltd.	Acquisition of hybrid securities		—		150,000

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

25.6 Details of significant lending transactions with related parties for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)		2025
		Beginning		Loan		Collection		Ending
Subsidiary	KB Investment Co., Ltd.		360,000		—		—		360,000
	KB Savings Bank Co., Ltd. 1		70,000		—		—		70,000

(In millions of Korean won)		2024
		Beginning		Loan		Collection		Ending
Subsidiary	KB Investment Co., Ltd.		360,000		—		—		360,000
	KB Capital Co., Ltd.		200,000		—		—		200,000
	KB Savings Bank Co., Ltd. 1		70,000		—		—		70,000
	KB Real Estate Trust Co., Ltd.		50,000		105,000		—		155,000

1	Par value of subordinated bond issued by KB Savings Bank Co., Ltd. The difference between par value and fair value at the acquisition date was accounted for as investments in subsidiaries.

25.7 Details of compensation to key management personnel for the six-month periods ended June 30, 2025 and 2024, are as follows:


(In millions of Korean won)	2025
	Short-term employee benefits		Post-employment benefits		Share-based payments		Total
Registered directors (executive)		650		21		2,733		3,404
Registered directors (non-executive)		350		—		—		350
Non-registered directors		2,660		120		7,918		10,698

		3,660		141		10,651		14,452


(In millions of Korean won)	2024
	Short-term employee benefits		Post-employment benefits		Share-based payments		Total
Registered directors (executive)		471		—		2,084		2,555
Registered directors (non-executive)		350		—		—		350
Non-registered directors		2,560		32		6,862		9,454

		3,381		32		8,946		12,359

Table of Contents

KB Financial Group Inc.

Notes to the Separate Interim Financial Statements

June 30, 2025 and 2024 (Unaudited), and December 31, 2024

26. Events After the Reporting Period

According to the resolution of the Board of Directors on July 24, 2025, a quarterly dividend of 920 per share with dividend record date of August 11, 2025, was declared. The Company’s financial statements as of June 30, 2025, do not reflect this dividend payable.

The Company plans to acquire treasury shares amounting to 660,000 million through a trust agreement pursuant to the Board of Directors’ resolution dated July 24, 2025, and to retire the shares after the termination of the trust by January 9, 2026.