KB Financial's operating profit jumps nearly 20% in first quarter

SEOUL, April 23 (UPI) -- South Korea's KB Financial Group said Thursday its operating profit for the first quarter was $1.84 billion, up 19% from a year earlier.

The Seoul-based financial conglomerate also reported that its net profit increased 12.8% year-on-year to reach $1.29 billion.

Its major affiliates, including KB Kookmin Bank, KB Securities, KB Insurance and KB Card, contributed to the solid performance during the January-March period. KB Kookmin Bank, for example, saw operating income rise 17% year-on-year to $1.1 billion.

Based on the strong results, KB Financial said that it would cancel more than 14 million shares, which is equivalent to about 3.8% of the total, next month to boost shareholder value.

Along the same line, the company disclosed its plan to repurchase its own shares worth $405 million for another round of cancellation, while providing dividends of $0.77 per share.

KB Financial noted that such measures were in line with the government's initiative to encourage share cancellations and higher dividends to support the stock market.

KB Financial Chief Financial Officer Na Sang-rok said that the group has maximized profitability in non-interest and non-banking sectors, thus strengthening its overall fundamentals.

"The diversification and solidification of our earnings structure will serve as a powerful engine for sustainable growth, enhancing shareholder value and corporate value," he said in a statement.

The share price of KB Financial rose 0.38% on the Seoul bourse Thursday.

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This story was originally published April 23, 2026 at 9:12 AM.