Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

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 July 2023

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 ☐

2023 First Half Preliminary Operating Results

On July 25, 2023, KB Financial Group Inc. (“KB Financial Group”) held an earnings conference and released its preliminary operating results for the first half of fiscal year 2023. The following tables reflect the key figures released during the conference. The presentation materials for the conference, which contain further details, are available at KB Financial Group’s website (http://www.kbfg.com).

The preliminary figures presented herein are based on International Financial Reporting Standards as adopted by the Republic of Korea (“K-IFRS”) and are currently being reviewed by KB Financial Group’s independent auditors and are subject to change.

1.	Preliminary Operating Results of KB Financial Group (Consolidated)


(Won in millions, %)		2Q 2023		1Q 2023		% Change Increase (Decrease) (Q to Q)			2Q 2022		% Change Increase (Decrease) (Y to Y)
Operating revenue	Specified Quarter		15,900,405		24,761,770		(35.79	)		24,484,711		(35.06	)
Operating revenue	Cumulative		40,662,175		24,761,770		—			43,730,829		(7.02	)
Net operating profit	Specified Quarter		2,053,044		2,125,025		(3.39	)		1,493,758		37.44
Net operating profit	Cumulative		4,178,069		2,125,025		—			3,404,167		22.73
Profit before income tax	Specified Quarter		1,960,691		2,028,864		(3.36	)		1,686,410		16.26
Profit before income tax	Cumulative		3,989,555		2,028,864		—			3,606,095		10.63
Profit for the period	Specified Quarter		1,504,788		1,499,214		0.37			1,245,482		20.82
Profit for the period	Cumulative		3,004,002		1,499,214		—			2,717,016		10.56
Profit attributable to shareholders of the parent company	Specified Quarter		1,499,074		1,497,631		0.10			1,209,951		23.90
	Cumulative		2,996,705		1,497,631		—			2,670,523		12.21


Notes:	1)	“Operating revenue” represents the sum of interest income, fee and commission income, insurance income, reinsurance income, gain on financial assets/liabilities at fair value through profit or loss, other insurance finance income and other operating income.
	2)	KB Financial Group’s preliminary operating results for the first half of 2023 reflect the application of K-IFRS 1117 (Insurance Contracts), a new accounting standard that became effective on January 1, 2023. For comparison purposes, the figures for the first half of 2022 above have been restated retrospectively to reflect the application of K-IFRS 1117.

2.	Preliminary Operating Results of Kookmin Bank (Consolidated)


(Won in millions, %)		2Q 2023		1Q 2023		% Change Increase (Decrease) (Q to Q)			2Q 2022		% Change Increase (Decrease) (Y to Y)
Operating revenue	Specified Quarter		8,817,685		14,919,122		(40.90	)		14,947,647		(41.01	)
Operating revenue	Cumulative		23,736,807		14,919,122		—			24,877,552		(4.59	)
Net operating profit	Specified Quarter		1,222,012		1,268,140		(3.64	)		995,912		22.70
Net operating profit	Cumulative		2,490,152		1,268,140		—			2,207,608		12.80
Profit before income tax	Specified Quarter		1,188,087		1,235,164		(3.81	)		1,015,435		17.00
Profit before income tax	Cumulative		2,423,251		1,235,164		—			2,230,876		8.62
Profit for the period	Specified Quarter		919,941		921,924		(0.22	)		749,928		22.67
Profit for the period	Cumulative		1,841,865		921,924		—			1,724,454		6.81
Profit attributable to shareholders of the parent company	Specified Quarter		926,992		931,516		(0.49	)		749,165		23.74
	Cumulative		1,858,508		931,516		—			1,726,440		7.65


Note:				“Operating revenue” represents the sum of interest income, fee and commission income, gain on financial assets/liabilities at fair value through profit or loss and other operating income.

3.	Preliminary Operating Results of KB Securities Co., Ltd. (“KB Securities”) (Consolidated)


(Won in millions, %)		2Q 2023		1Q 2023		% Change Increase (Decrease) (Q to Q)			2Q 2022		% Change Increase (Decrease) (Y to Y)
Operating revenue	Specified Quarter		1,805,906		4,324,249		(58.24	)		4,462,334		(59.53	)
Operating revenue	Cumulative		6,130,155		4,324,249		—			8,991,551		(31.82	)
Net operating profit (loss)	Specified Quarter		194,063		264,199		(26.55	)		85,388		127.27
Net operating profit (loss)	Cumulative		458,262		264,199		—			236,501		93.77
Profit (Loss) before income tax	Specified Quarter		142,727		188,813		(24.41	)		89,785		58.97
Profit (Loss) before income tax	Cumulative		331,540		188,813		—			251,752		31.69
Profit (Loss) for the period	Specified Quarter		110,304		141,950		(22.29	)		70,191		57.15
Profit (Loss) for the period	Cumulative		252,254		141,950		—			186,102		35.55
Profit (Loss) attributable to shareholders of the parent company	Specified Quarter		110,345		141,894		(22.23	)		70,006		57.62
	Cumulative		252,239		141,894		—			185,720		35.82


Notes:	1)	Based on KB Securities’ consolidated financial statements, as a result of which the figures differ from KB Securities’ earnings results to be released at KB Financial Group’s 2023 first half earnings conference, which are based on KB Financial Group’s consolidated financial statements.
	2)	“Operating revenue” represents operating income based on KB Securities’ financial statements.

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: July 25, 2023				By: /s/ Scott Y. H. Seo
				(Signature)
				Name: Scott Y. H. Seo
				Title: Senior Executive Vice President and Chief Finance Officer