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View of KB Financial Group. (Photo = KB Financial Group) |
[Alpha Biz= Reporter Kim Jisun] KB Financial Group’s Chief Financial Officer (CFO) Kim Jae-kwan announced on the 23rd that the company is not currently considering additional share buybacks or cancellations for the remainder of the year. He indicated that any decisions regarding such actions would be considered for next year, if necessary.
During the second-quarter earnings conference call, Kim explained that discussions are ongoing with the board about the content of the value-up disclosure, which is expected to cover areas such as shareholder returns, capital ratio management, capital utilization strategies, and improving Return on Equity (ROE).
Kim also noted that KB Financial currently holds approximately 14 million shares of its own stock, which will be used according to market expectations. He emphasized that there are no plans to sell these shares in the market, focusing instead on additional buybacks or cancellations.
Chief Risk Officer (CRO) Choi Cheol-soo mentioned that provisions related to real estate project financing (PF) increased slightly in the second quarter, particularly concerning real estate trust. The additional provisions amount to approximately 80 billion won.
Choi added that each real estate trust project, including those under construction completion guarantee, was re-evaluated, leading to conservative estimates and adequate provisioning. Currently, about 70% of provisions have been set aside for trust accounts related to construction completion guarantee, with an additional 30% provisioned for other trust accounts to ensure loss absorption capability.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
