KB Financial Group Inc is a finance holding company headquartered in Seoul, South Korea. The Group and its subsidiaries provide a broad range of banking and financial services. It is one of the domestic systemically important banks (D-SIBs) identified by the Financial Services Commission.[2]
History
KB Financial Group was established through the restructuring of Kookmin Bank into a holding company in September 2008. Kookmin Bank launched a financial holding firm to boost non-banking operations such as brokerage, insurance, and consumer finance.[3][4] After its establishment, KB acquired non-banking financial services companies, including LIG Insurance, Hyundai Securities, Prudential Life Korea, etc.
In 2015, KB acquired LIG Insurance, South Korea's fourth-largest non-life insurance company with assets totaling 24 trillion won, from LIG Group and changed its name to KB Insurance.[5]