KB Financial Group announced on the 24th that its net profit for the first half of this year was 3.4357 trillion won. This marks a 23.8% increase compared to the same period last year and is the largest performance on a half-year basis in history.
KB Financial's net interest income for the first half of the year was 6.3687 trillion won, a decrease of 0.4% compared to the previous year, while non-interest income rose to 2.7233 trillion won, an increase of 10.9%.
KB Financial noted, "Despite the decline in interest revenue due to falling interest rates, the effect of the previous year's provision for equity-linked securities (ELS) has dissipated, and the decline in exchange rates and the rise in stock indices have generally expanded non-interest income, resulting in solid performance."
In the second quarter, net profit recorded 1.7384 trillion won, a slight increase of 0.3% compared to the previous year. Net commission income exceeded 1 trillion won for the first time on a quarterly basis, reaching 1.0320 trillion won.
KB Financial's return on equity (ROE) for the first half of the year was 13.03%, and the return on assets (ROA) was 0.90%. The common equity tier 1 (CET1) ratio rose by 0.04 percentage points compared to the previous quarter to 13.74%.
On this day, KB Financial announced a cash dividend of 920 won per share and a share buyback and cancellation plan worth 850 billion won. Na Sang-rok, KB Financial's Chief Financial Officer, said, "With this additional decision for share buyback and cancellation, the total shareholder return this year will reach 3.1 trillion won," and added, "Considering the recent market consensus, we expect to achieve the highest total shareholder return rate in history."
He also stated, "We will further strengthen trust with the market through a consistent and differentiated shareholder return policy, based on industry-leading capital strength and stable profit generation capabilities."