The following is a summary of the KB Financial Group Inc. (KB) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 cumulative net profit was KRW 4.3953 trillion, up 0.4% year-over-year.

• KB Financial Group achieved a cumulative credit cost improvement to 0.41%, indicating robust control over credit management.

• Group CET1 ratio maintained strong at 13.85%, supporting sustained high capital adequacy and enabling significant shareholder returns.

• Notable management of earnings with planned share buybacks and dividend payouts highlights the group's financial strength and commitment to enhancing shareholder value.

Business Progress:

• KB Financial Group announced a comprehensive sustainable value-up plan aiming at improved profitability, quality of assets, and shareholder returns.

• Initiatives include linking shareholder returns to CET1 ratio, enhancing capital allocations such as buybacks and dividends based on financial metrics.

• Embedded sustainability and predictability in shareholder return policies, underpinned by RoRWA-centric business management.

Opportunities:

• Sustainable Value-up program designed to improve profitability, asset quality, and align shareholder returns with CET1 ratio.

• Plans to manage and control the RWA growth rate effectively to enhance overall financial health and commit to high shareholder returns.

• Expansion in nonbanking subsidiaries, such as cards and insurance, contributing positively to diversification and income.

Risks:

• Despite the positive overview, quarterly earnings indicated a minor decline due to seasonal factors and FX rate movements impacting asset values.

• Provisioning for certain exposures like ELS could pose ongoing risks depending on market conditions.

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