# EDGAR Filing Document

**Accession Number:** 0001445930
**File Stem:** 0001193125-26-094913
**Filing Date:** 2026-3
**Character Count:** 1479648
**Document Hash:** 84b8a1e26df65d26953fb3964bed2154
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-094913.hdr.sgml**: 20260306

**ACCESSION NUMBER**: 0001193125-26-094913

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260306

**FILED AS OF DATE**: 20260306

**DATE AS OF CHANGE**: 20260306

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KB Financial Group Inc.
- **CENTRAL INDEX KEY:** 0001445930
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** M5
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-53445
- **FILM NUMBER:** 26728426

**BUSINESS ADDRESS:**
- **STREET 1:** 141, UISADANG-DAERO
- **STREET 2:** YEONGDEUNGPO-GU
- **CITY:** SEOUL
- **STATE:** M5
- **ZIP:** 07332
- **BUSINESS PHONE:** 822-2073-2845

**MAIL ADDRESS:**
- **STREET 1:** 141, UISADANG-DAERO
- **STREET 2:** YEONGDEUNGPO-GU
- **CITY:** SEOUL
- **STATE:** M5
- **ZIP:** 07332

**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 March 2026** 

**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 ☐

------

**Audit Report of KB Financial Group Inc. for Fiscal Year 2025** 

On March 6, 2026, KB Financial Group Inc. ("KB Financial Group") disclosed audit reports for fiscal year 2025 based on the International Financial Reporting Standards as adopted by the Republic of Korea (including the consolidated and separate financial statements of KB Financial Group as of and for the years ended December 31, 2025 and 2024 and related notes) received from Samil PricewaterhouseCoopers, its independent auditor. The financial statements in such reports have not been approved by the shareholders of KB Financial Group and remain subject to change.

KB Financial Group is furnishing the following documents as exhibits to this Form 6-K filing:

Exhibit 99.1: [An English-language translation of the Consolidated Audit Report of KB Financial Group for FY 2025](d263747dex991.htm).

Exhibit 99.2: [An English-language translation of the Separate Audit Report of KB Financial Group for FY 2025.](d263747dex992.htm)

------

**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. | KB Financial Group Inc. |
|  | (Registrant) | (Registrant) |
| Date: March 6, 2026 | By: | /s/ Sang Rok Na |
|  | (Signature) | (Signature) |
|  | Name: Sang Rok Na | Name: Sang Rok Na |
|  | Title: Senior Managing Director and Chief Financial Officer | Title: Senior Managing Director and Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1** 

**KB Financial Group Inc. and Subsidiaries** 

**Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

(With Independent Auditor's Report Thereon)

------

**KB Financial Group Inc. and Subsidiaries** 

---

| | |
|:---|:---|
|  | **Page(s)** |
|  [**Independent Auditor's Report**](#ex99_1toc263747_1) | 1-5 |
|  **Consolidated Financial Statements** |  |
|  [Consolidated Statements of Financial Position](#ex99_1toc263747_2) | 6 |
|  [Consolidated Statements of Comprehensive Income](#ex99_1toc263747_3) | 7-8 |
|  [Consolidated Statements of Changes in Equity](#ex99_1toc263747_4) | 9 |
|  [Consolidated Statements of Cash Flows](#ex99_1toc263747_5) | 10-11 |
|  [Notes to the Consolidated Financial Statements](#ex99_1toc263747_6) | 12 |
|  **[Independent Auditor's Report on Internal Control over Financial Reporting for Consolidation Purposes](#ex99_1toc263747_7)** | 359-360 |
|  [Operating Status Report of Internal Control over Financial Reporting for Consolidation Purposes](#ex99_1toc263747_8) | 361 |

---

------

**<u>Independent Auditor's Report</u>**

(English Translation of a Report Originally Issued in Korean)

To the Shareholders and the Board of Directors of

KB Financial Group Inc.

*Opinion* 

We have audited the accompanying consolidated financial statements of KB Financial Group Co., Ltd. and its subsidiaries (collectively referred to as the "Group"), which comprise the consolidated statements of financial position as at December 31, 2025 and 2024, and the consolidated statements of comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows for the years then ended, and notes to the consolidated financial statements, including material accounting policy information.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at December 31, 2025 and 2024, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (Korean IFRS).

We also have audited, in accordance with Korean Standards on Auditing, the Company's Internal Control over Financial Reporting for consolidation purposes as of December 31, 2025, based on *Conceptual Framework for Designing and Operating Internal Control over Financial Reporting*, and our report dated March 6, 2026 expressed an unqualified opinion.

*Basis for Opinion* 

We conducted our audits in accordance with Korean Standards on Auditing. Our responsibilities under those standards are further described in the *Auditor's Responsibilities for the Audit of the Consolidated Financial Statements* section of our report. We are independent of the Group in accordance with the ethical requirements of the Republic of Korea that are relevant to our audit of the consolidated financial statements and we have fulfilled our other ethical responsibilities in accordance with the ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

*Key Audit Matters* 

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

------

*Allowance for expected credit losses on loans measured at amortized cost* 

As described in Note 10 to the consolidated financial statements, loans measured at amortized cost amount to W497,384,240 million, with allowances for credit losses of W5,406,196 million as of December 31, 2025. The Group measures expected credit losses on loans measured at amortized cost based on both individual and collective assessments. Individual assessment of expected credit losses is performed based on estimates of future forecast cash flow, and collective assessment of expected credit losses is involved with a variety and complex variable inputs and assumptions that require management's estimates and judgments.

The principal considerations for our determination that performing procedures relating to the allowance for credit losses of loans measured at amortized cost is a key audit matter are: (i) there was significant judgement by management in determining the allowance, which in turn led to a high degree of auditor subjectivity in performing procedures related to the impairment models, key assumptions, such as probability of default, loss given default, credit risk ratings and determination of the forward-looking information and the expected future cash flows related to individual exposures; (ii) there was significant judgement and effort in evaluating audit evidence related to these models, judgments and assumptions used to determine the allowance; and (iii) the audit effort involved the use of professionals with specialized skill and knowledge.

*Our audit procedures to address the Key Audit Matter included the following:* 

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to the estimation process, which included controls over the data, models and assumptions used in determining the allowance for credit losses. These procedures also included, among others, the involvement of professionals with specialized skill and knowledge to assist in testing management's process to estimate the allowance for credit losses including evaluating the appropriateness of methodology and models, and evaluating the reasonableness of key assumptions and the accuracy of the inputs used in the impairment models, such as probability of default, loss given default and credit risk ratings and determination of the forward-looking information. When evaluating the impairment models using probability of default and loss given default and the forward-looking information, we assessed their reasonableness and accuracy against external data and economic events that have occurred. We also assessed the reasonableness and the accuracy of borrower credit risk ratings and expected future cash flows related to individually assessed exposures.

*Loss ratio assumptions used to estimate fulfilment cash flows of insurance contracts* 

As described in Note 38 to the consolidated financial statements, the net book value of the liability for remaining coverage was W50,330,602 million, which is presented as insurance contract liabilities, reinsurance contract liabilities, insurance contract assets, and reinsurance contract assets in the consolidated statement of financial position as of December 31, 2025. As described in Notes 2 and 3, the Group estimates future cash flows using various actuarial assumptions as inputs. Among the actuarial assumptions, the calculation of loss ratio assumptions includes various and complex inputs, including historical data, and management's estimates and judgement.

The principal considerations for our determination that performing procedures relating to the loss ratio assumptions used to estimate fulfilment cash flows of the insurance contracts is a key audit matter are: (i) there was significant judgement by management in determining the loss ratio, which in turn led to a high degree of auditor subjectivity in performing procedures related to the estimation fulfilment cash flows of the insurance contracts; (ii) there was significant judgement and effort in evaluating audit evidence related to these models, judgments and assumptions used to determine the loss ratio; and (iii) the audit effort involved the use of professionals with specialized skill and knowledge.

------

*Our audit procedures to address the Key Audit Matter included the following:* 

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to the estimation process, which included controls over the loss ratio assumptions used to estimate fulfilment cash flows of the insurance contracts. These procedures also included, among others, the involvement of professionals with specialized skill and knowledge to assist in testing management's process to evaluate the reasonableness and accuracy of the loss ratio assumption by performing recalculations and other procedures, and test the accuracy and completeness of the historical data used in management's estimates by reconciling the data to supporting documents.

*Other Matter* 

Auditing standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to audit such consolidated financial statements may differ from those generally accepted and applied in other countries.

*Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements* 

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with Korean IFRS, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations.

Those charged with governance are responsible for overseeing the Group's financial reporting process.

*Auditor's Responsibilities for the Audit of the Consolidated Financial Statements* 

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Korean Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with Korean Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are
required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up
to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the
disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business
activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the Group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

------

The engagement partner on the audit resulting in this independent auditor's report is Hee-Won Seo, Certified Public Accountant.

/s/ Samil PricewaterhouseCoopers

Seoul, Korea

March 6, 2026

This report is effective as at March 6, 2026, the audit report date. Certain subsequent events or circumstances, which may occur between the audit report date and the time of reading this report, could have a material impact on the accompanying consolidated financial statements and notes thereto. Accordingly, the readers of the audit report should understand that there is a possibility that the above audit report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

------

**KB Financial Group Inc. and Subsidiaries** 

**Consolidated Statements of Financial Position** 

**December 31, 2025 and 2024**

*(in millions of Korean won)* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Notes** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** |
|  **Assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions | 467839 | W | 34776877 | W | 29869111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss | 46812 |  | 89862530 |  | 79450093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial assets | 469 |  | 8178056 |  | 11730767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost | 461011 |  | 491978044 |  | 472071840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial investments | 46812 |  | 134986677 |  | 131009464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in associates and joint ventures | 13 |  | 1137184 |  | 947390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance contract assets | 38 |  | 271152 |  | 276191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance contract assets | 38 |  | 1515854 |  | 1497147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property and equipment | 14 |  | 5133801 |  | 5390015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment property | 14 |  | 3224180 |  | 3759176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible assets | 15 |  | 1609427 |  | 1966684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net defined benefit assets | 25 |  | 353366 |  | 258500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current income tax assets |  |  | 388589 |  | 339855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income tax assets | 1734 |  | 193034 |  | 278824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets held for sale | 18 |  | 174919 |  | 136838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets of disposal groups classified as held for sale | 18 |  | 94215 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets | 4619 |  | 24045128 |  | 18863637 |
|  **Total assets** |  | W | 797923033 | W | 757845532 |
|  **Liabilities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss | 4620 | W | 11320590 | W | 10720231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial liabilities | 469 |  | 8234289 |  | 11783494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits | 4621 |  | 462397026 |  | 435687897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings | 4622 |  | 70728396 |  | 68077012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures | 4623 |  | 80049270 |  | 76171257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance contract liabilities | 38 |  | 56790030 |  | 55863701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance contract liabilities | 38 |  | 59648 |  | 56266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provisions | 24 |  | 1264390 |  | 927632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net defined benefit liabilities | 25 |  | 100088 |  | 100187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current income tax liabilities |  |  | 610484 |  | 530720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income tax liabilities | 1734 |  | 1819080 |  | 1682292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liabilities included in disposal groups as held for sale | 18 |  | 68290 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 4626 |  | 43651463 |  | 36429662 |
|  **Total liabilities** |  |  | 737093044 |  | 698030351 |
|  **Equity** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share capital |  |  | 2090558 |  | 2090558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities |  |  | 4359388 |  | 5082578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital surplus |  |  | 16633518 |  | 16646734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulated other comprehensive income | 36 |  | (467456) |  | 496922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained earnings |  |  | 38333741 |  | 34808220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasury shares |  |  | (1901538) |  | (1236060) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Equity attributable to shareholders of the Parent Company** | 27 |  | 59048211 |  | 57888952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-controlling interests** |  |  | 1781778 |  | 1926229 |
|  **Total equity** |  |  | 60829989 |  | 59815181 |
|  **Total liabilities and equity** |  | W | 797923033 | W | 757845532 |

---

The above consolidated statements of financial position should be read in conjunction with the accompanying notes.

------

**KB Financial Group Inc. and Subsidiaries** 

**Consolidated Statements of Comprehensive Income** 

**Years Ended December 31, 2025 and 2024**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(in millions of Korean won, except per share amounts)* | **Notes** | **2025** | **2025** | **2024** | **2024** |
|  Interest income |  | W | 29156100 | W | 30491385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income from financial instruments at fair value through other comprehensive income and amortized cost |  |  | 27682743 |  | 29001556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income from financial instruments at fair value through profit or loss |  |  | 1436152 |  | 1458512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance finance interest income |  |  | 37205 |  | 31317 |
|  Interest expense |  |  | (16083007) |  | (17664671) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense |  |  | (14578519) |  | (16186914) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance finance interest expense |  |  | (1504488) |  | (1477757) |
|  **Net interest income** | 528 |  | 13073093 |  | 12826714 |
|  Fee and commission income |  |  | 5773521 |  | 5481843 |
|  Fee and commission expense |  |  | (1675234) |  | (1632216) |
|  **Net fee and commission income** | 529 |  | 4098287 |  | 3849627 |
|  Insurance income |  |  | 12376546 |  | 11456191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance income |  |  | 11651881 |  | 11017155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance income |  |  | 724665 |  | 439036 |
|  Insurance expense |  |  | (11073173) |  | (9806430) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance service expense |  |  | (10213199) |  | (8884168) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance expense |  |  | (859974) |  | (922262) |
|  **Net insurance income** | 538 |  | 1303373 |  | 1649761 |
|  **Net gains on financial instruments at fair value through profit or loss** | 530 |  | 3380205 |  | 1012081 |
|  **Other insurance finance expenses** | 38 |  | (1026721) |  | (437001) |
|  **Net other operating expenses** | 531 |  | (2883075) |  | (1873011) |
|  **General and administrative expenses** | 532 |  | (7064573) |  | (6938624) |
|  **Operating income before provision for credit losses** | 5 |  | 10880589 |  | 10089547 |
|  **Provision for credit losses** | 5711121924 |  | (2362878) |  | (2044286) |
|  **Net operating income** |  |  | 8517711 |  | 8045261 |
|  Share of profit (loss) of investments in associates and joint ventures | 13 |  | 26852 |  | (16884) |
|  Net other non-operating expenses | 33 |  | (361417) |  | (1043130) |
|  **Net non-operating expenses** |  |  | (334565) |  | (1060014) |
|  **Profit before income tax expense** |  |  | 8183146 |  | 6985247 |
|  **Income tax expense** | 34 |  | (2342431) |  | (1956641) |
|  **Profit for the year** | 5 |  | 5840715 |  | 5028606 |

---

(Continued)

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**KB Financial Group Inc. and Subsidiaries** 

**Consolidated Statements of Comprehensive Income** 

**Years Ended December 31, 2025 and 2024 (cont'd)**

*(in millions of Korean won, except per share amounts)* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Notes** | **2025** | **2025** | **2024** | **2024** |
|  Items that will not be reclassified to profit or loss: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements of net defined benefit liabilities | 25 |  | 28017 |  | (85375) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains (losses) on equity securities at fair value through other comprehensive income |  |  | 124513 |  | (254864) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk |  |  | (3222) |  | (5514) |
|  |  |  | 149308 |  | (345753) |
|  Items that may be reclassified subsequently to profit or loss: | Items that may be reclassified subsequently to profit or loss: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency translation differences |  |  | (28814) |  | 582872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains (losses) on debt securities at fair value through other comprehensive income |  |  | (1992733) |  | 1468299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share of other comprehensive income (loss) of associates and joint ventures |  |  | 2018 |  | 165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains (losses) on cash flow hedging instruments | 9 |  | (289508) |  | 34741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains (losses) on hedging instruments of net investments in foreign operations | 9 |  | 39631 |  | (186708) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance finance income (expense) | 38 |  | 1159681 |  | (3176328) |
|  |  |  | (1109725) |  | (1276959) |
|  **Other comprehensive income (loss) for the year, net of tax** |  |  | (960417) |  | (1622712) |
|  **Total comprehensive income (loss) for the year** |  | W | 4880298 | W | 3405894 |
|  **Profit (loss) attributable to:** | 5 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholders of the Parent Company |  | W | 5833162 | W | 5078221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-controlling interests |  |  | 7553 |  | (49615) |
|  |  | W | 5840715 | W | 5028606 |
|  **Total comprehensive income (loss) for the year attributable to:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholders of the Parent Company |  | W | 4878528 | W | 3419852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-controlling interests |  |  | 1770 |  | (13958) |
|  |  | W | 4880298 | W | 3405894 |
|  **Earnings per share (in Korean won)** | 37 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic earnings per share |  | W | 15410 | W | 12880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted earnings per share |  |  | 15261 |  | 12726 |

---

The above consolidated statements of comprehensive income should be read in conjunction with the accompanying notes.

------

**KB Financial Group Inc. and Subsidiaries** 

**Consolidated Statements of Changes in Equity** 

**Years Ended December 31, 2025 and 2024**

*(in millions of Korean won)* 

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | **Equity attributable to shareholders of the Parent Company** | | | | |
|  | **Share<br>capital** | **Share<br>capital** | **Hybrid<br>securities** | **Hybrid<br>securities** | **Capital<br>surplus** | **Capital<br>surplus** | **Accumulated<br>other<br>comprehensive<br>income** | **Accumulated<br>other<br>comprehensive<br>income** | **Retained<br>earnings** | **Retained<br>earnings** | **Treasury<br>shares** | **Treasury<br>shares** | **Non-controlling<br>interests** | **Non-controlling<br>interests** | **Total equity** | **Total equity** |
|  **Balance as of January 1, 2024** | W | 2090558 | W | 5032803 | W | 16647916 | W | 2152644 | W | 31934600 | W | (1165837) | W | 1943506 | W | 58636190 |
|  **Comprehensive income for the year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit for the year |  |  |  |  |  |  |  |  |  | 5078221 |  |  |  | (49615) |  | 5028606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements of net defined benefit liabilities |  |  |  |  |  |  |  | (85946) |  |  |  |  |  | 571 |  | (85375) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency translation differences |  |  |  |  |  |  |  | 547337 |  |  |  |  |  | 35535 |  | 582872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains (losses) on financial instruments at fair value through other comprehensive income and transfer to retained earnings |  |  |  |  |  |  |  | 1216509 |  | (2647) |  |  |  | (427) |  | 1213435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share of other comprehensive income of associates and joint ventures |  |  |  |  |  |  |  | 165 |  |  |  |  |  |  |  | 165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains (losses) on cash flow hedging instruments |  |  |  |  |  |  |  | 34763 |  |  |  |  |  | (22) |  | 34741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on hedging instruments of net investments in foreign operations |  |  |  |  |  |  |  | (186708) |  |  |  |  |  |  |  | (186708) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance finance expenses |  |  |  |  |  |  |  | (3176328) |  |  |  |  |  |  |  | (3176328) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk |  |  |  |  |  |  |  | (5514) |  |  |  |  |  |  |  | (5514) |
|  **Total comprehensive income for the year** |  |  |  |  |  |  |  | (1655722) |  | 5075574 |  |  |  | (13958) |  | 3405894 |
|  **Transactions with shareholders** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annual dividends paid to shareholders of the Parent Company |  |  |  |  |  |  |  |  |  | (587006) |  |  |  |  |  | (587006) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quarterly dividends paid to shareholders of the Parent Company |  |  |  |  |  |  |  |  |  | (899971) |  |  |  |  |  | (899971) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issuance of hybrid securities |  |  |  | 399059 |  |  |  |  |  |  |  |  |  | 756317 |  | 1155376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends on hybrid securities |  |  |  |  |  |  |  |  |  | (199800) |  |  |  | (77162) |  | (276962) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redemption of hybrid securities |  |  |  | (349284) |  |  |  |  |  |  |  |  |  | (659866) |  | (1009150) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of treasury shares |  |  |  |  |  |  |  |  |  |  |  | (820000) |  |  |  | (820000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of treasury shares |  |  |  |  |  | 3975 |  |  |  |  |  | 234600 |  |  |  | 238575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retirement of treasury shares |  |  |  |  |  |  |  |  |  | (515177) |  | 515177 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ownership changes in subsidiaries |  |  |  |  |  |  |  |  |  |  |  |  |  | 12198 |  | 12198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  |  |  |  |  | (5157) |  |  |  |  |  |  |  | (34806) |  | (39963) |
|  **Total transactions with shareholders** |  |  |  | 49775 |  | (1182) |  |  |  | (2201954) |  | (70223) |  | (3319) |  | (2226903) |
|  **Balance as of December 31, 2024** | W | 2090558 | W | 5082578 | W | 16646734 | W | 496922 | W | 34808220 | W | (1236060) | W | 1926229 | W | 59815181 |
|  **Balance as of January 1, 2025** | W | 2090558 | W | 5082578 | W | 16646734 | W | 496922 | W | 34808220 | W | (1236060) | W | 1926229 | W | 59815181 |
|  **Comprehensive income for the year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit for the year |  |  |  |  |  |  |  |  |  | 5833162 |  |  |  | 7553 |  | 5840715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements of net defined benefit liabilities |  |  |  |  |  |  |  | 28615 |  |  |  |  |  | (598) |  | 28017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency translation differences |  |  |  |  |  |  |  | (47362) |  |  |  |  |  | 18548 |  | (28814) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains (losses) on financial instruments at fair value through other comprehensive income and transfer to retained earnings |  |  |  |  |  |  |  | (1877909) |  | 9744 |  |  |  | (55) |  | (1868220) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share of other comprehensive income of associates and joint ventures |  |  |  |  |  |  |  | 2018 |  |  |  |  |  |  |  | 2018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on cash flow hedging instruments |  |  |  |  |  |  |  | (265830) |  |  |  |  |  | (23678) |  | (289508) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on hedging instruments of net investments in foreign operations |  |  |  |  |  |  |  | 39631 |  |  |  |  |  |  |  | 39631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance finance expenses |  |  |  |  |  |  |  | 1159681 |  |  |  |  |  |  |  | 1159681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk |  |  |  |  |  |  |  | (3222) |  |  |  |  |  |  |  | (3222) |
|  **Total comprehensive income for the year** |  |  |  |  |  |  |  | (964378) |  | 5842906 |  |  |  | 1770 |  | 4880298 |
|  **Transactions with shareholders** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annual dividends paid to shareholders of the Parent Company |  |  |  |  |  |  |  |  |  | (298285) |  |  |  |  |  | (298285) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quarterly dividends paid to shareholders of the Parent Company |  |  |  |  |  |  |  |  |  | (1004006) |  |  |  |  |  | (1004006) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issuance of hybrid securities |  |  |  | 404028 |  |  |  |  |  |  |  |  |  |  |  | 404028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends on hybrid securities |  |  |  |  |  |  |  |  |  | (202392) |  |  |  | (102549) |  | (304941) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redemption of hybrid securities |  |  |  | (1127218) |  |  |  |  |  |  |  |  |  |  |  | (1127218) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of treasury shares |  |  |  |  |  |  |  |  |  |  |  | (1480000) |  |  |  | (1480000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retirement of treasury shares |  |  |  |  |  |  |  |  |  | (814522) |  | 814522 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ownership changes in subsidiaries |  |  |  |  |  | (10401) |  |  |  |  |  |  |  | (22070) |  | (32471) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  |  |  |  |  | (2815) |  |  |  | 1820 |  |  |  | (21602) |  | (22597) |
|  **Total transactions with shareholders** |  |  |  | (723190) |  | (13216) |  |  |  | (2317385) |  | (665478) |  | (146221) |  | (3865490) |
|  **Balance as of December 31, 2025** | W | 2090558 | W | 4359388 | W | 16633518 | W | (467456) | W | 38333741 | W | (1901538) | W | 1781778 | W | 60829989 |

---

The above consolidated statements of changes in equity should be read in conjunction with the accompanying notes.

------

**KB Financial Group Inc. and Subsidiaries** 

**Consolidated Statements of Cash Flows** 

**Years Ended December 31, 2025 and 2024**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(in millions of Korean won)* | **Notes** | **2025** | **2025** | **2024** | **2024** |
|  **Cash flows from operating activities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit for the year |  | W | 5840715 | W | 5028606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adjustment for non-cash items |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gains on financial assets at fair value through profit or loss |  |  | (2246763) |  | 29212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gains (losses) on derivative financial instruments for hedging purposes |  |  | 61260 |  | 168387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision for credit losses |  |  | 2362878 |  | 2044286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gains (losses) on financial investments |  |  | (100042) |  | 103986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share of profit (losses) of associates and joint ventures |  |  | (26852) |  | 16884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization expense |  |  | 914686 |  | 916295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other net gains (losses) on property and equipment/intangible assets |  |  | (152580) |  | 145164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based payments |  |  | 153882 |  | 140453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Post-employment benefits |  |  | 192787 |  | 177481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net interest expense |  |  | 250558 |  | 6122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on foreign currency translation |  |  | 730732 |  | 620754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance finance income |  |  | (10823339) |  | (10922966) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance finance expense |  |  | 1241676 |  | 1659880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other expenses |  |  | 860422 |  | 793690 |
|  |  |  | (6580695) |  | (4100372) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in operating assets and liabilities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial asset at fair value through profit or loss |  |  | (7550760) |  | (700633) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial instruments |  |  | 2162 |  | (207969) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at fair value through other comprehensive income |  |  | (548985) |  | (646377) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  |  | (23368272) |  | (27515988) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current income tax assets |  |  | (48734) |  | (95539) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income tax assets |  |  | 83410 |  | 5201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets |  |  | (9035662) |  | 1393446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss |  |  | (58243) |  | (183609) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits |  |  | 23150126 |  | 23821056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current income tax liabilities |  |  | 79765 |  | 385385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income tax liabilities |  |  | 354843 |  | 367748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities |  |  | 5483916 |  | (4948829) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance contract assets |  |  | 5039 |  | (46550) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance contract assets |  |  | (1258024) |  | (1498923) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance contract liabilities |  |  | 13387533 |  | 11807838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance contract liabilities |  |  | (2261) |  | 49018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment contract liabilities |  |  | 4290505 |  | 1106677 |
|  |  |  | 4966358 |  | 3091952 |
|  **Net cash inflow from operating activities** |  |  | 4226378 |  | 4020186 |

---

(Continued)

------

**KB Financial Group Inc. and Subsidiaries** 

**Consolidated Statements of Cash Flows** 

**Years Ended December 31, 2025 and 2024 (cont'd)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in millions of Korean won)* | **Notes** | **2025** | **2025** | **2024** |
|  **Cash flows from investing activities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash flows from derivative financial instruments for hedging purposes |  |  | (125312) | (44552) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of financial asset at fair value through profit or loss |  |  | 24532395 | 15648112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of financial asset at fair value through profit or loss |  |  | (25180947) | (16365119) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of financial investments |  |  | 52496175 | 45225323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of financial investments |  |  | (57231392) | (47328121) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of investments in associates and joint ventures |  |  | 257829 | 98497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of investments in associates and joint ventures |  |  | (419661) | (339469) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of property and equipment |  |  | 91927 | 18616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of property and equipment |  |  | (333440) | (337178) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of investment property |  |  | 675864 | 264948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of investment property |  |  | (183503) | (88756) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of intangible assets |  |  | 11702 | 21073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of intangible assets |  |  | (221529) | (289731) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash flows from changes in ownership of subsidiaries |  |  | (264868) | 88528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  |  | 356861 | (397226) |
|  **Net cash outflow from investing activities** |  |  | (5537899) | (3825055) |
|  **Cash flows from financing activities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash flows from derivative financial instruments for hedging purposes |  |  | (276837) | (216883) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Increase (decrease) in borrowings |  |  | 3844056 | (4358474) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in debentures |  |  | 93229857 | 86031647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease in debentures |  |  | (89470531) | (80848086) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in other payables to trust accounts |  |  | 2905896 | 89900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends paid |  |  | (1302291) | (1486978) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issuance of hybrid securities |  |  | 404028 | 399059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redemption of hybrid securities |  |  | (1130000) | (350000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends paid on hybrid securities |  |  | (202392) | (199800) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of treasury shares |  |  | (1480000) | (820000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redemption of principal elements of lease payments |  |  | (366953) | (311363) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease (increase) in non-controlling interests |  |  | (103724) | 115292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  |  | (253186) | (28151) |
|  **Net cash inflow (outflow) from financing activities** |  |  | 5797923 | (1983837) |
|  **Effect of exchange rate changes on cash and cash equivalents** | 39 |  | (74705) | 570985 |
|  **Net increase (decrease) in cash and cash equivalents** |  |  | 4411697 | (1217721) |
|  **Cash and cash equivalents at the beginning of the year** | 39 |  | 24608867 | 25826588 |
|  **Cash and cash equivalents at the end of the year** | 39 | W | 29020564 | 24608867 |

---

The above consolidated statements of cash flows should be read in conjunction with the accompanying notes.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**1. The Parent Company** 

KB Financial Group Inc. (the "Parent Company") was incorporated on September 29, 2008, under the Financial Holding Companies Act of Korea. KB Financial Group Inc. and its subsidiaries (the "Group") derive substantially all of their revenue and income from providing a broad range of banking and related financial services to consumers and corporations. The Parent Company's main business purpose is to control subsidiaries that engage in the financial business or subsidiaries closely related to the financial business through the stock ownership. The Parent Company's headquarter is located at 26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul. In 2011, Kookmin Bank spun off its credit card business segment and established a new separate credit card company, KB Kookmin Card Co., Ltd. and KB Investment & Securities Co., Ltd. merged with KB Futures Co., Ltd. The Group established KB Savings Bank Co., Ltd. in January 2012, acquired Yehansoul Savings Bank Co., Ltd. in September 2013, and KB Savings Bank Co., Ltd. merged with Yehansoul Savings Bank Co., Ltd. in January 2014. In March 2014, the Group acquired Woori Financial Co., Ltd. and changed the name to KB Capital Co., Ltd. Meanwhile, the Group included LIG Insurance Co., Ltd. as an associate and changed the name to KB Insurance Co., Ltd. in June 2015, aand KB Insurance Co., Ltd. became one of the subsidiaries through a tender offer in May 2017. Also, the Group included Hyundai Securities Co., Ltd. as an associate in June 2016 and included as a subsidiary in October 2016 by comprehensive exchange of shares. Hyundai Securities Co., Ltd. merged with KB Investment & Securities Co., Ltd. in December 2016 and changed its name to KB Securities Co., Ltd. in January 2017. In August 2020, the Group acquired Prudential Life Insurance Company of Korea Ltd. which was classified as a subsidiary and the name was changed to KB Life Insurance Co., Ltd. in December 2022. Then in January 2023, it merged with another existing KB Life Insurance Co., Ltd. The Parent Company sold 100% shares of KB Credit Information Co., Ltd. to KB Kookmin Card Co., Ltd. on June 30, 2023.

The Parent Company's share capital as of December 31, 2025, is W 2,090,558 million. The Parent Company has been listed on the Korea Exchange ("KRX") since October 10, 2008, and on the New York Stock Exchange ("NYSE") for its American Depositary Shares ("ADS") since September 29, 2008. Number of shares authorized in its Articles of Incorporation is 1,000 million.

**2. Basis of Preparation** 

**2.1 Application of Korean IFRS** 

The Group maintains its accounting records in Korean won and prepares statutory consolidated financial statements in the Korean language in accordance with International Financial Reporting Standards as adopted by the Republic of Korea ("Korean IFRS"). The accompanying consolidated financial statements have been translated into English from the Korean language consolidated financial statements.

The consolidated financial statements of the Group have been prepared in accordance with Korean IFRS. Korean IFRS are the standards and related interpretations issued by the International Accounting Standards Board ("IASB") that have been adopted by the Republic of Korea.

The preparation of the consolidated financial statements requires the use of certain critical accounting estimates. Management also needs to exercise judgment in applying the Group's accounting policies. The areas that require a more complex and higher level of judgment or areas that require significant assumptions and estimations are disclosed in Note 2.4.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

2.1.1 The Group has applied the following new and amended standards for the first time for its annual reporting period commencing January 1, 2025.

*- Amendment of Korean IFRS No.1021 "The Effects of Changes in Foreign Exchange Rates" and Korean IFRS No.1101 "First-time Adoption of International Financial Reporting Standards" – Lack of exchangeability* 

The amendments require the Group to determine a spot exchange rate when exchangeability is lacking, and to disclose information on the nature and financial effects of the currency not being exchangeable into the other currency, the spot exchange rate(s) used, the estimation process, and the risks to which the Group is exposed. These amendments do not have a material impact on the financial statements.

*- Amendments to Korean IFRS No.1117 "Insurance Contract" – Disclosures relating to lapse rates for insurance contracts with no or low surrender values* 

The amendments add a disclosure requirement to disclose, where the estimation techniques used for the inputs in measuring insurance contracts differ from the estimation techniques principally required under insurance-related laws or regulations and such differences are considered relevant and material to users of the financial statements, the nature of those differences and their effects on the financial statements. The amendments are effective from December 31, 2025 and are applied to the first annual reporting period ending on or after the effective date. The amendments remain effective through the annual reporting period ending on December 31, 2029. The amendments do not have a material impact on the financial statements.

2.1.2 The following new and amended standards have been published that are not mandatory for December 31, 2025 reporting period and have not been adopted by the Group.

*- Amendment of Korean IFRS No.1109 "Financial Instruments" and No.1107 "Financial Instruments: Disclosures"* 

Korean IFRS No.1109 *Financial Instruments* and Korean IFRS No.1107 *Financial Instruments: Disclosures* have been amended to respond to recent questions arising in practice, and to include new requirements. The amendments should be applied for annual periods beginning on or after January 1, 2026, and earlier application is permitted. The amendments do not have a significant impact on the financial statements.

These amendments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception
for some financial liabilities settled through an electronic cash transfer system;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal
and interest (SPPI) criterion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• add new disclosures of impact on the entity and the extent to which the entity is exposed for each type of
financial instruments if the timing or amount of contractual cash flow changes due to amendment of contract term; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• update the disclosures for equity instruments designated at fair value through other comprehensive income
(FVOCI).

*- Korean IFRS Accounting Standards Annual Improvements Volume 11* 

Korean IFRS Accounting Standards Annual Improvements Volume 11 will be effective for annual reporting periods beginning on or after January 1, 2026. These amendments do not have a significant impact on the financial statements.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Korean IFRS No.1101 "First-time adoption of International Financial Reporting Standards": Hedge
accounting by a first-time adopter

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Korean IFRS No.1107 "Financial Instruments: Disclosures": Gain or loss on derecognition, Application
guidance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Korean IFRS No.1109 "Financial Instruments": Derecognition of lease liabilities, Definition of
transaction price

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Korean IFRS No.1110 "Consolidated Financial Statements": Determination of a 'de facto
agent'

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Korean IFRS Bo.1007 "Statement of Cash Flows": Cost method

*- Korean IFRS No.1118 Presentation and Disclosures in Financial Statements* 

Korean IFRS No.1118 "Presentation and Disclosure in Financial Statements" replaces Korean IFRS No.1001 "Presentation of Financial Statements." Korean IFRS No.1118 introduces new presentation requirements, particularly with respect to the definition of operating profit or loss, which are expected to enhance comparability of financial performance among similar entities. In addition, the disclosure requirements for management-defined performance measures are intended to improve transparency. The Standard is effective for annual reporting periods beginning on or after January 1, 2027, with early adoption permitted. In accordance with the retrospective application requirements of the Standard, the Group will restate the comparative information for the year ending December 31, 2026 in accordance with Korean IFRS No.1118.

The Group has not yet adopted Korean IFRS No.1118 and is currently assessing the impact that the application of the Standard will have on its financial statements. The Group has prepared a transition plan and is on track to report their first Korean IFRS No.1118-compliant interim financial statements for the period ending March 31, 2027 and annual financial statements for the period ending December 31, 2027.

**2.2 Measurement Basis** 

The consolidated financial statements have been prepared based on the historical cost accounting model unless otherwise specified.

**2.3 Functional and Presentation Currency** 

Items included in the financial statements of each entity of the Group are measured using the currency of the primary economic environment in which the entity operates ("functional currency"). The consolidated financial statements are presented in Korean won, which is the Parent Company's functional and presentation currency.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**2.4 Critical Accounting Estimates** 

The Group applies accounting policies and uses judgements, accounting estimates, and assumptions that may have a significant impact on the assets (liabilities) and incomes (expenses) in preparing the consolidated financial statements. Management's estimates of outcomes may differ from actual outcomes if management's estimates and assumptions based on management's best judgment are different from the actual environment.

Estimates and underlying assumptions are continually evaluated, and changes in accounting estimates are recognized in the period in which the estimates are changed and in any future periods affected.

Uncertainties in estimates and assumptions with significant risks that may result in material adjustments to the consolidated financial statements are as follows:

2.4.1 Income taxes

As the income taxes on the Group's taxable income is calculated by applying the tax laws of various countries and the decisions of tax authorities, there is uncertainty in calculating the final tax effect.

If a certain portion of the taxable income is not used for investments, wages, etc. in accordance with the Korean regulation called 'Special Taxation for Facilitation of Investment and Mutually-beneficial Cooperation', the Group is liable to pay additional income tax calculated based on the tax laws. Therefore, the effect of recirculation of corporate income should be reflected in current and deferred income tax. As the Group's income tax is dependent on the actual investments, wages, etc. per each year, there are uncertainties in measuring the final tax effects during the period when the tax law is applied.

2.4.2 Fair value of financial instruments

The fair value of financial instruments where no active market exists or where quoted prices are not otherwise available is determined by using valuation techniques. Financial instruments, which are not actively traded in the market and those with less transparent market prices, will have less objective fair values and require broad judgment on liquidity, concentration, uncertainty in market factors, assumptions in fair value determination, and other risks.

As described in the material accounting policies in Note 3.3 Recognition and Measurement of Financial Instruments, diverse valuation techniques are used to determine the fair value of financial instruments, from generally accepted market valuation models to internally developed valuation models that incorporate various types of assumptions and variables.

2.4.3 Allowances and provisions for credit losses

The Group recognizes and measures allowances for credit losses of debt instruments measured at amortized cost, debt instruments measured at fair value through other comprehensive income, and lease receivables. Also, the Group recognizes and measures provisions for credit losses of acceptances and guarantees, and unused loan commitments. Accuracy of allowances and provisions for credit losses is dependent upon estimation of expected cash flows of the borrower subject to individual assessment of impairment, and upon assumptions and variables of model used in collective assessment of impairment and estimation of provisions for credit losses of acceptances and guarantees, and unused loan commitments.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

2.4.4 Impairment of goodwill

The recoverable amounts of cash-generating units are determined based on value-in-use calculations to test whether impairment of goodwill has occurred.

2.4.5 The judgment and estimation uncertainty in measurement of insurance contracts

2.4.5.1 Methods used to measure the future cash flows and estimation process of input variable

The estimated future cash flows are measured as the probability-weighted average of all possible outcomes, utilizing all reasonable and relevant information available without excessive cost or effort. Market and non-market variables are considered in measuring the cash flows within the boundary of the insurance contract. While deterministic scenarios (representing a range of probabilities) are typically used for calculating the probability-weighted average, probabilistic scenarios are employed when cash flows are influenced by complex underlying factors and nonlinear responses to economic conditions. The cash flows within the boundary of an insurance contract portfolio include both directly attributable cash flows and cash flows allocated from a higher level than the insurance contract portfolio. These cash flows are systematically and reasonably allocated, ensuring consistent methods are applied for similar types of cash flows.

The key assumptions used in estimating the future cash flows of the Group are as follows:

- Loss ratio: The loss ratio refers to the ratio of insurance claims paid to policyholders to the premiums received by the insurance company for providing risk coverage services to policyholders. The loss ratio, which is an estimation of future premiums and claims payable, is estimated based on objective and reliable data, using the best available methods to suit the intended application. Objective and reliable data refers to the most recent measured results made using the Group's experience statistics, insurance industry statistics, or national statistics, and others. It also means the best method that reasonably distinguishes characteristics such as the policyholder's gender, contract type, risk characteristics by distribution channel, and others.

- Expense ratio: Expense ratio refers to the costs incurred by insurance companies for the sale and management of insurance contracts. Expense ratio is calculated primarily considering the ongoing costs incurred by the insurance company, taking into account the going concern, and includes the allocation of both fixed and variable indirect expenses directly related to insurance contracts. Expense ratio also considers costs such as contract acquisition expense (regardless of whether premiums are paid or not), contract maintenance expense, and claims expense, distributed in order to manage cost by product and distribution channel.

- Lapse ratio: The lapse ratio is an estimate of future cancellations or lapses of insurance contracts among current customers of the insurance company. It is calculated for the purpose of predicting the level of future current premium payments and cancellation refunds. The statistics used for estimation primarily rely on experience statistics of the Group, and lapse ratio is calculated based on characteristics such as product type, distribution channel, payment method, and others, which can significantly affect lapse ratio.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

2.4.5.2 Estimation of Discretionary Cash Flows

Some contracts issued by the Group grant discretion to the Group regarding cash flows to be paid to policyholders. Changes in discretionary cash flows are considered related to future services, and adjust the contractual service margin. The Group identifies changes in discretionary cash flow by identifying assured cash flows at the initial recognition date of the contract. However, if it is not possible to distinguish between the portion considered assured and the portion considered discretionary, the profit within the estimated fulfillment cash flows is considered assured, and is updated to reflect current assumptions related to financial risk.

2.4.5.3 Estimation of Risk Adjustment for Non-Financial Risk

Risk adjustment for non-financial risk is to adjust the present value estimates of future cash flows to reflect the compensation required by the Group for bearing the uncertainty about the amount and timing of cash flows arising from non-financial risk. This adjustment reflects the uncertainty of cash flows arising from all non-financial risks related to the insurance contracts and is estimated separately from all of the other estimates. The Group uses the confidence lever technique and the cost of capital methods for determining the risk adjustment for non-financial risk. Changes in risk adjustment for non-financial risk are disclosed separately for insurance service results and insurance finance income. The Group calculates this adjustment considering the diversification effect at the consolidated level and then allocated to individual contract units.

2.4.5.4 Estimation of Discount Rate

The discount rate should only include relevant factors such as the time value of money, characteristics of cash flows from insurance contracts, and liquidity characteristics, and should be calculated using observable input variables to the maximum extent possible. The discount rate should also reflect all reasonable and supportable information on internal and external non-market variables available without undue cost or effort. The Group estimates the discount rate using a bottom-up approach.

In the bottom-up approach, the discount rate is calculated using an unleveraged yield curve adjusted to reflect the characteristics of cash flows and liquidity of insurance contracts. To reflect the liquidity characteristics of insurance contracts, the risk-free yield curve is adjusted for illiquidity premium.

2.4.5.5 Estimation of Investment Component

The investment component is the amount that the Group must repay to policyholders under insurance contracts in all circumstances, regardless of the occurrence of insurance events. The Group classifies cash outflows such as maturity refunds, cancellation refunds, annuity payments, and cash flows related to insurance policy loans as investment components.

2.4.5.6 Estimation of Coverage Units

The quantity of insurance contract services provided is calculated based on the expected coverage period and maximum coverage amount (insurance amount), and for investment (related) services it is calculated based on the premium reserve (net of insurance policy loans). If insurance contracts within the group provide multiple services, weights are applied based on the total premium of each service. The quantity of services for each period and expected coverage period are calculated based on the expected persistency ratio applied in estimating the fulfillment cash flows, applied the present value effect.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3. Material Accounting Policies** 

The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

**3.1 Consolidation** 

3.1.1 Subsidiaries

Subsidiaries are companies that are controlled by the Group. The Group controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Also, the existence and effects of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Group controls the investee. Subsidiaries are fully consolidated from the date when control is transferred to the Group and de-consolidated from the date when control is lost.

If a subsidiary uses accounting policies other than those adopted in the consolidated financial statements for like transactions and events in similar circumstances, appropriate adjustments are made to that subsidiary's financial statements in preparing the consolidated financial statements to ensure conformity with the Group's accounting policies.

Profit or loss and each component of other comprehensive income are attributed to the owners of the parent and to the non-controlling interests, if any. Total comprehensive income is attributed to the owners of the parent and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.

Transactions with non-controlling interests that do not result in loss of control are accounted for as equity transactions (i.e., transactions with owners in their capacity as owners). The difference between fair value of any consideration paid and carrying amount of the subsidiary's net assets attributable to the additional interests acquired, is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.

When the Group loses control, any investment retained in the former subsidiary is recognized at its fair value at the date when control is lost, with the resulting difference recognized in profit or loss. This fair value will be the fair value on initial recognition of a financial asset in accordance with Korean IFRS No.1109 or, when appropriate, the cost on initial recognition of an investment in an associate or joint venture. In addition, all amounts previously recognized in other comprehensive income in relation to that subsidiary are accounted for on the same basis as would be required if the Group had directly disposed of the related assets or liabilities. Therefore, amounts previously recognized in other comprehensive income are reclassified to profit or loss.

The Group accounts for each business combination by applying the acquisition method. The consideration transferred is measured at fair value, and identifiable assets acquired, and liabilities and contingent liabilities assumed in a business combination are initially measured at acquisition-date fair values. For each business combination, the Group measures non-controlling interests in the acquiree that entitle their holders to a proportionate share of the acquiree's net assets in the event of liquidation at either (a) fair value or (b) the proportionate share in the recognized amounts of the acquiree's identifiable net assets. Acquisition-related costs are expensed in the periods in which the costs are incurred.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.1.1 Subsidiaries (cont'd)

In a business combination achieved in stages, the Group shall remeasure its previously held equity interest in the acquiree at its acquisition-date fair value and recognize the resulting gain or loss, if any, in profit or loss or other comprehensive income, as appropriate. In prior reporting periods, the Group may have recognized changes in the value of its equity interest in the acquiree in other comprehensive income. If so, the amount that was recognized in other comprehensive income shall be reclassified as profit or loss, or retained earnings, on the same basis as would be required if the Group had directly disposed of the previously held equity interest.

The Group applies the book-value method to account for business combinations of entities under common control. Identifiable assets acquired and liabilities assumed in a business combination are measured at their book value on the consolidated financial statements of the Group. In addition, the difference between (a) the sum of consolidated net book value of the assets and liabilities transferred and accumulated other comprehensive income and (b) the consideration paid, is recognized as capital surplus.

3.1.2 Associates and joint ventures

Associates are entities over which the Group has significant influence over the financial and operating policy decisions. Generally, if the Group holds 20% or more of the voting power of the investee, it is presumed that the Group has significant influence.

Joint ventures are investments in which the Group has joint control over economic activities pursuant to contractual arrangement. Decisions about strategic financial and operating policies require unanimous consent of the parties sharing control.

Investments in associates and joint ventures are initially recognized at cost and equity method is applied after initial recognition. The carrying amount is increased or decreased to recognize the Group's share of the profit or loss of the investee and changes in the investee's equity after the date of acquisition. Distributions received from an investee reduce the carrying amount of the investment. Unrealized gains and losses resulting from transactions between the Group and associates are eliminated to the extent of the Group's share in associates. If unrealized losses are an indication of an impairment that requires recognition in the consolidated financial statements, those losses are recognized for the period.

If associates or joint ventures use accounting policies other than those of the Group for like transactions and events in similar circumstances, if necessary, adjustments shall be made to make the associates or joint ventures' accounting policies conform to those of the Group when the associates or joint ventures' financial statements are used by the Group in applying the equity method.

If the Group's share of losses of associates and joint ventures equals or exceeds its interest in the associates (including long-term interests that, in substance, form part of the Group's net investment in the associates), the Group discontinues recognizing its share of further losses. After the Group's interest is reduced to zero, additional losses are provided for, and a liability is recognized, only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the investee.

The Group determines at each reporting period whether there is any objective evidence that the investments in the associates are impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the associates and its carrying amount and recognizes the amount as non-operating expenses in the consolidated statement of comprehensive income.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.1.3 Structured entity

A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity. When the Group decides whether it has power over the structured entities in which the Group has interests, it considers factors such as the purpose, the form, the substantive ability to direct the relevant activities of a structured entity, the nature of its relationship with a structured entity, and the amount of exposure to variable returns.

3.1.4 Funds management

The Group manages and operates trust assets, collective investment, and other funds on behalf of investors. These trusts and funds are not consolidated, except for trusts and funds over which the Group has control.

3.1.5 Intragroup transactions

Intragroup balances, income, expenses, and any unrealized gains and losses resulting from intragroup transactions are eliminated in full, in preparing the consolidated financial statements. If unrealized losses are an indication of an impairment that requires recognition in the consolidated financial statements, those losses are recognized for the period.

**3.2 Foreign Currency** 

3.2.1 Foreign currency transactions

A foreign currency transaction is recorded, at initial recognition in the functional currency, by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. At the end of each reporting period, foreign currency monetary items are translated using the closing rate which is the spot exchange rate at the end of the reporting period. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rate at the date when the fair value was measured and non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.

Except for the exchange differences for the net investment in a foreign operation and the financial liability designated as a hedging instrument of net investment, exchange differences arising on the settlement of monetary items or on translating monetary items are recognized in profit or loss. When a gain or loss on a non-monetary item is recognized in other comprehensive income, any exchange component of that gain or loss is recognized in other comprehensive income, conversely, when a gain or loss on a non-monetary item is recognized in profit or loss, any exchange component of that gain or loss is recognized in profit or loss.

3.2.2 Foreign operations

The results and financial position of a foreign operation, whose functional currency differs from the Group's presentation currency, are translated into the Group's presentation currency based on the following procedures.

If the functional currency of a foreign operation is not the currency of a hyperinflationary economy, assets and liabilities for each statement of financial position presented (including comparatives) are translated at the closing rate at the end of the reporting period, income and expenses for each statement of comprehensive income presented (including comparatives) are translated using the average exchange rates for the period. All resulting exchange differences are recognized in other comprehensive income.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.2.2 Foreign operations (cont'd)

Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition of that foreign operation are treated as assets and liabilities of the foreign operation. Thus, they are expressed in the functional currency of the foreign operation and are translated into the presentation currency at the closing rate.

On the disposal of a foreign operation, the cumulative amount of the exchange differences relating to that foreign operation, recognized in other comprehensive income and accumulated in the separate component of equity, is reclassified from equity to profit or loss (as a reclassification adjustment) when the gain or loss on disposal is recognized. On the partial disposal of a subsidiary that includes a foreign operation, the Group re-attributes the proportionate share of the cumulative amount of the exchange differences recognized in other comprehensive income to the non-controlling interests in that foreign operation. In any other partial disposal of a foreign operation, the Group reclassifies to profit or loss only the proportionate share of the cumulative amount of the exchange differences recognized in other comprehensive income.

3.2.3 Translation of the net investment in a foreign operation

A monetary item that is receivable from or payable to a foreign operation, for which settlement is neither planned nor likely to occur in the foreseeable future is, in substance, a part of the Group's net investment in that foreign operation, then foreign currency difference arising from that monetary item is recognized in the other comprehensive income and shall be reclassified to profit or loss on disposal of the net investment.

**3.3 Recognition and Measurement of Financial Instruments** 

3.3.1 Initial recognition

The Group recognizes a financial asset or a financial liability in its consolidated statement of financial position when the Group becomes party to the contractual provisions of the instrument. A regular way purchase or sale of financial assets (a purchase or sale of a financial asset under a contract whose terms require delivery of the asset within the time frame established generally by regulation or convention in the marketplace concerned) is recognized and derecognized using trade date accounting.

For financial reporting purpose, the Group classifies (a) financial assets as financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income, or financial assets at amortized cost and (b) financial liabilities as financial liabilities at fair value through profit or loss, or other financial liabilities. These classifications are based on the business model for managing financial instruments and the contractual cash flow characteristics of the financial instrument at initial recognition.

At initial recognition, a financial asset or financial liability is measured at its fair value plus or minus, in the case of a financial asset or financial liability not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issue of the financial asset or financial liability. The fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value of a financial instrument on initial recognition is normally the transaction price (that is, the fair value of the consideration given or received) in an arm's length transaction.

3.3.2 Subsequent measurement

After initial recognition, financial instruments are measured at amortized cost or fair value based on classification at initial recognition.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.3.2.1 Amortized cost

The amortized cost of a financial asset or financial liability is the amount at which the financial asset or financial liability is measured at initial recognition minus the principal repayments, plus or minus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount and, for financial assets, adjusted for any loss allowance.

3.3.2.2 Fair value

The Group uses quoted price in an active market which is based on listed market price or dealer price quotations of financial instruments traded in an active market as best estimate of fair value. A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm's length basis.

If there is no active market for a financial instrument, fair value is determined either by using a valuation technique or independent third-party valuation service. Valuation techniques include using recent arm's length market transactions between knowledgeable and willing parties, if available, referencing the current fair value of another instrument that is substantially the same, discounted cash flow analysis, and option pricing models.

The Group uses valuation models that are commonly used by market participants and customized for the Group to determine fair values of common over-the-counter ("OTC") derivatives such as options, interest rate swaps, and currency swaps which are based on the inputs observable in markets. However, for some complex financial instruments that require fair value measurement by valuation techniques based on certain assumptions because some or all inputs used in the model are not observable in the market, the Group uses internal valuation models developed from general valuation models or valuation results from independent external valuation institutions.

In addition, the fair value information recognized in the consolidated statement of financial position is classified into the following fair value hierarchy, reflecting the significance of the input variables used in the fair value measurement.

Level 1 : Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Group can access at the measurement date

Level 2 : Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly

Level 3 : Unobservable inputs for the asset or liability

The fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. For this purpose, the significance of an input is assessed against the fair value measurement in its entirety.

If a fair value measurement uses observable inputs that require significant adjustment using unobservable inputs, that measurement is a Level 3 measurement.

If the valuation technique does not reflect all factors which market participants would consider in pricing the asset or liability, the fair value is adjusted to reflect those factors. Those factors include counterparty credit risk, bid-ask spread, liquidity risk, and others.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.3.2.2 Fair value (cont'd)

The Group uses valuation technique which maximizes the use of market inputs and minimizes the use of entity-specific inputs. It incorporates all factors that market participants would consider in pricing the asset or liability and is consistent with economic methodologies applied for pricing financial instruments. Periodically, the Group calibrates the valuation technique and tests its validity using prices of observable current market transactions of the same instrument or based on other relevant observable market data.

3.3.3 Derecognition

Derecognition is the removal of a previously recognized financial asset or financial liability from the consolidated statement of financial position. The derecognition criteria for financial assets and financial liabilities are as follows:

3.3.3.1 Derecognition of financial assets

A financial asset is derecognized when the contractual rights to the cash flows from the financial assets expire or the Group transfers substantially all the risks and rewards of ownership of the financial asset, or the Group neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset and the Group has not retained control. Therefore, if the Group does not transfer substantially all the risks and rewards of ownership of the financial asset, the Group continues to recognize the financial asset to the extent of its continuing involvement in the financial asset.

If the Group transfers the contractual rights to receive the cash flows of the financial asset but retains substantially all the risks and rewards of ownership of the financial asset, the Group continues to recognize the transferred asset in its entirety and recognize a financial liability for the consideration received.

The Group writes off a financial asset when the Group has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof. In general, the Group considers write-off when it is determined that the debtor does not have sufficient funds or income to cover the principal and interest. The write-off decision is made in accordance with internal regulations. After the write-off, the Group can continue to collect the written-off loans according to the internal policy. Recovered amounts from financial assets previously written-off are recognized in profit or loss.

3.3.3.2 Derecognition of financial liabilities

A financial liability is derecognized from the consolidated statement of financial position when it is extinguished (i.e., the obligation specified in the contract is discharged, canceled or expires).

3.3.4 Offsetting

A financial asset and a financial liability are offset, and the net amount is presented in the consolidated statement of financial position when, and only when, the Group currently has a legally enforceable right to set off the recognized amounts and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on a future event and must be legally enforceable in the normal course of business, the event of default, and the event of insolvency or bankruptcy of the Group and all of the counterparties.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.4 Cash and Due from Financial Institutions** 

Cash and due from financial institutions include cash on hand, foreign currency, and short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and due from financial institutions. Cash and due from financial institutions are measured at amortized cost.

**3.5 Non-derivative Financial Assets** 

3.5.1 Financial assets at fair value through profit or loss

Financial assets are classified as financial assets at fair value through profit or loss unless they are classified as financial assets at amortized cost or at fair value through other comprehensive income.

The Group may designate certain financial assets upon initial recognition as at fair value through profit or loss when the designation eliminates or significantly reduces a measurement or recognition inconsistency (sometimes referred to as an 'accounting mismatch') that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases.

After initial recognition, a financial asset at fair value through profit or loss is measured at fair value and gains or losses arising from a change in fair value are recognized in profit or loss. Interest income using the effective interest method and dividend income from financial assets at fair value through profit or loss are also recognized in profit or loss.

3.5.2 Financial assets at fair value through other comprehensive income

The Group classifies below financial assets as financial assets at fair value through other comprehensive income:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Debt instruments that are held within a business model whose objective is achieved by both collecting contractual
cash flows and selling financial assets, and where the assets' cash flows represent solely payments of principal and interest on the principal amount outstanding and;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equity instruments that are not held for short-term trading but held for strategic investment, and designated as
financial assets at fair value through other comprehensive income

After initial recognition, a financial asset at fair value through other comprehensive income is measured at fair value. Gains or losses arising from a change in fair value, other than dividend income, interest income calculated using the effective interest method and exchange differences arising on monetary items which are recognized directly in profit or loss, are recognized in other comprehensive income in equity.

When the financial assets at fair value through other comprehensive income is disposed of, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss. However, cumulative gain or loss of equity instruments designated at fair value through other comprehensive income is reclassified to retained earnings not to profit or loss at disposal.

A financial asset at fair value through other comprehensive income denominated in foreign currency is translated at the closing rate. Exchange differences resulting from changes in amortized cost are recognized in profit or loss, and other changes are recognized in equity.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.5.3 Financial assets at amortized cost

A financial asset, which is held within the business model whose objective is achieved by collecting contractual cash flows, and where the assets' cash flows represent solely payments of principal and interest on the principal amount outstanding, is classified as a financial asset at amortized cost. After initial recognition, a financial asset at amortized cost is measured at amortized cost using the effective interest method and interest income is calculated using the effective interest method.

**3.6 Expected Credit Losses of Financial Assets (Debt Instruments)** 

The Group recognizes loss allowances for expected credit losses at the end of the reporting period for financial assets at amortized cost and fair value through other comprehensive income except for financial assets at fair value through profit or loss.

Expected credit losses are estimated at present value of probability-weighted amount that is determined by evaluating a range of possible outcomes. The Group measures expected credit losses by reflecting all reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions, and forecasts of future economic conditions.

The approaches of measuring expected credit losses in accordance with Korean IFRS are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• General approach: for financial assets and unused loan commitments not subject to the below 2 approaches

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Simplified approach: for trade receivables, contract assets, and lease receivables

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Credit-impaired approach: for financial assets that are credit-impaired at the time of acquisition

Application of general approach is differentiated depending on whether credit risk has increased significantly after initial recognition. If the credit risk on a financial instrument has not increased significantly since initial recognition, the Group measures loss allowances for that financial instrument at an amount equal to 12-month expected credit losses, whereas if the credit risk on a financial instrument has increased significantly since initial recognition, the Group measures loss allowances for a financial instrument at an amount equal to the lifetime expected credit losses. Lifetime is the period until the contractual maturity date of financial instruments and means the expected life.

The Group assesses whether the credit risk has increased significantly using the following criteria, and if one or more of the following criteria are met, it is deemed as significant increase in credit risk. Criterion of more than 30 days past due is applied to all subsidiaries, and other criteria are applied selectively considering specific indicators of each subsidiary or additionally considering specific indicators of each subsidiary. If the contractual cash flows of a financial asset have been renegotiated or modified, the Group assesses whether the credit risk has increased significantly using the same following criteria.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• More than 30 days past due

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Decline in credit rating at the end of the reporting period by certain notches or more compared to the time of
initial recognition

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Subsequent managing ratings below certain level in the early warning system

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Debt restructuring (except for impaired financial assets) and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Credit delinquency information of Korea Credit Information Services, etc.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.6 Expected Credit Losses of Financial Assets (Debt Instruments) (cont'd)** 

Under simplified approach, the Group always measures loss allowances at an amount equal to lifetime expected credit losses. Under credit-impaired approach, the Group only recognizes the cumulative changes in lifetime expected credit losses since initial recognition as loss allowances at the end of the reporting period. In assessing credit impairment, the Group uses definition of default as in the new Basel Accord which rules calculation of Capital Adequacy Ratio.

The Group generally considers the loan to be credit-impaired if one or more of the following criteria are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 90 days or more past due

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Legal proceedings related to collection

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A borrower registered on the credit management list of Korea Federation of Banks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A corporate borrower with the credit rating C and D

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Refinancing and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Debt restructuring, etc.

3.6.1 Forward-looking information

The Group uses forward-looking information, when determining whether credit risk has increased significantly and measuring expected credit losses.

The Group assumes that the relevant risk components are correlated with the economic cycle and uses statistical methodologies to estimate the relationships between key macroeconomic variables and risk components used in the measurement of expected credit losses. The Group utilizes more than 15 years of historical time-series data to derive such correlations and incorporates the results into the risk components used in calculating expected credit losses.

The correlation between the major macroeconomic variables and the credit risk are as follows:

---

| | |
|:---|:---|
| **Key macroeconomic variables** | **Correlation between the major<br>macroeconomic variables and the credit risk** |
|  Benchmark interest rate | (+) |
|  AA- rated corporate bond (3-year) | (+) |
|  BBB- rated corporate bond (3-year) | (+) |
|  Composite stock index | (-) |
|  Rate of increase in housing transaction price index (Whole Country) | (-) |
|  Rate of increase in housing transaction price index (Metropolitan Area) | (-) |
|  WTI crude oil price | (+) |
|  Growth rate of private consumption | (-) |
|  Rate of increase or decrease in facilities investments | (-) |
|  Rate of increase or decrease in construction investments | (-) |
|  Unemployment rate | (+) |
|  Household loan growth rate | (-) |
|  CD distribution yield | (+) |

---

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.6.1 Forward-looking information (cont'd)

Forward-looking information used in the calculation of expected credit losses is based on the macroeconomic forecasts utilized by management of the Group for its business plan considering reliable external agency's forecasts and others. The forward-looking information is generated by KB Research with a comprehensive approach to capture the possibility of various economic forecast scenarios that are derived from the internal and external viewpoints of the macroeconomic situation. The Group determines the macroeconomic variables to be used in forecasting future conditions of the economy, considering the direction of the forecast scenario based on GDP growth and the significant relationship between macroeconomic variables and time series data. Some macroeconomic variables used are different than those used in the previous year.

As of December 31, 2025, the Group measures expected credit losses by applying a probability-weighted approach incorporating multiple macroeconomic scenarios, including optimistic, baseline, adverse, and crisis scenarios, taking into account potential credit risks arising from the uncertain domestic and global financial environment and the sharp economic downturn.

3.6.2 Measuring expected credit losses on financial assets at amortized cost

The expected credit losses of financial assets at amortized cost are measured as present value of the difference between the contractual cash flows to be received and the cash flows expected to be received. The Group estimates expected future cash flows for financial assets that are individually significant. The Group selects the individually significant financial assets by comprehensively considering quantitative and qualitative factors (such as debt restructuring or negative net assets, etc.) among financial assets with the credit risk has increased significantly or credit-impaired (individual assessment of impairment).

For financial assets that are not individually significant, the Group collectively estimates expected credit losses by grouping loans with a homogeneous credit risk profile (collective assessment of impairment).

3.6.2.1 Individual assessment of impairment

Individual assessment of impairment losses is performed using management's best estimate on the present value of expected future cash flows. The Group uses all the available information including financial condition of the borrower such as operating cash flow and net realizable value of any collateral held.

3.6.2.2 Collective assessment of impairment

Collective assessment of impairment losses is performed by using a methodology based on historical loss experience and reflecting forward-looking information. Such a process incorporates factors such as type of collateral, type of product, type of borrower, credit rating, size of portfolio, and recovery period and applies Probability of Default ("PD") on a group of assets and Loss Given Default ("LGD") by type of recovery method. Also, the Group applies certain assumptions to model expected credit losses assessment and to determine input based on loss experience and forward-looking information. These models and assumptions are periodically reviewed to reduce the gap between loss estimate and actual loss experience.

The lifetime expected credit losses are measured by applying the PD to the carrying amount calculated by deducting the expected principal repayment amount from the carrying amount as of the reporting date and the LGD adjusted to reflect changes in the carrying amount.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.6.3 Measuring expected credit losses on financial assets at fair value through other comprehensive income

The Group measures expected credit losses on financial assets at fair value through other comprehensive income in a manner that is consistent with the requirements that are applicable to financial assets at amortized cost. However, loss allowances are recognized in other comprehensive income. Upon disposal or repayment of financial assets at fair value through other comprehensive income, the amount of loss allowances is reclassified from other comprehensive income to profit or loss.

**3.7 Derivative Financial Instruments** 

The Group enters into numerous derivative financial instrument contracts such as currency forwards, interest rate swaps, currency swaps, and others for trading purposes or to manage its interest rate risk, currency risk, and others. The Group's derivative financial instruments business focuses on addressing the needs of the Group's corporate clients to hedge their risk exposure and to hedge the Group's risk exposure that results from such client contracts. These derivative financial instruments are presented as derivative financial instruments in the consolidated financial statements irrespective of transaction purpose and subsequent measurement requirement.

The Group designates certain derivative financial instruments as hedging instruments to hedge the risk of changes in fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge) and the risk of changes in cash flow (cash flow hedge). The Group designates certain derivative and non-derivative financial instruments as hedging instruments to hedge the currency risk of the net investment in a foreign operation (hedge of net investment).

At the inception of the hedging relationship, there is formal designation and documentation of the hedging relationship and the Group's risk management objective and strategy for undertaking the hedge. This documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged, the inception date of hedging relationship and how the Group will assess the hedging instrument's effectiveness in offsetting the changes in the hedged item's fair value or cash flows attributable to the hedged risk.

Derivative financial instruments are initially recognized at fair value. After initial recognition, derivative financial instruments are measured at fair value, and changes therein are accounted for as described below.

3.7.1 Derivative financial instruments held for trading

All derivative financial instruments, except for derivatives that are designated and qualify for hedge accounting, are measured at fair value. Gains or losses arising from changes in fair value are recognized in profit or loss as part of net gains or losses on financial instruments at fair value through profit or loss.

3.7.2 Derivative financial instruments for fair value hedges

If derivative financial instruments are designated and qualify for fair value hedges, changes in fair value of the hedging instrument and changes in fair value of the hedged item attributable to the hedged risk are recognized in profit or loss as part of other operating income or expenses. If the hedged items are equity instruments for which the Group has elected to present changes in fair value in other comprehensive income, changes in fair value of the hedging instrument and changes in fair value of the hedged item attributable to the hedged risk are recognized in other comprehensive income.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.7.2 Derivative financial instruments for fair value hedges (cont'd)

Fair value hedge accounting is discontinued prospectively if the hedging instrument expires or is sold, terminated or exercised, or the hedging relationship ceases to meet the qualifying criteria. Once fair value hedge accounting is discontinued, the adjustment to the carrying amount of a hedged item is amortized to profit or loss by the maturity of the financial instrument using the effective interest method.

3.7.3 Derivative financial instruments for cash flow hedges

The effective portion of changes in fair value of derivative financial instruments that are designated and qualify for cash flow hedges is recognized in other comprehensive income, limited to the cumulative change in fair value (present value) of the hedged item (the present value of the cumulative change in the hedged expected future cash flows) from inception of the hedge. The ineffective portion is recognized in profit or loss as other operating income or expenses. The associated gains or losses that were previously recognized in other comprehensive income are reclassified from equity to profit or loss (other operating income or expenses) as a reclassification adjustment in the same period or periods during which the hedged forecast cash flows affect profit or loss. Cash flow hedge accounting is discontinued prospectively if the hedging instrument expires or is sold, terminated or exercised, or the hedging relationship ceases to meet the qualifying criteria. When the cash flow hedge accounting is discontinued, the cumulative gains or losses on the hedging instrument that have been recognized in other comprehensive income are reclassified to profit or loss over the period in which the forecast transaction occurs. If the forecast transaction is no longer expected to occur, the cumulative gains or losses that have been recognized in other comprehensive income are immediately reclassified to profit or loss.

3.7.4 Derivative and non-derivative financial instruments designated for net investments hedges

If derivative and non-derivative financial instruments are designated and qualify for the net investment hedge, the effective portion of changes in fair value of the hedging instrument is recognized in other comprehensive income and the ineffective portion is recognized in profit or loss as other operating income or expenses. The cumulative gains or losses on the hedging instrument relating to the effective portion of the hedge that have been accumulated in other comprehensive income will be reclassified from other comprehensive income to profit or loss as a reclassification adjustment on the disposal or partial disposal of the foreign operation.

3.7.5 Embedded derivatives

An embedded derivative is separated from the host contract and accounted for as a derivative if, and only if, (a) the economic characteristics and risks of the embedded derivative are not closely related to those of the host contract, (b) a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative and (c) the hybrid contract contains a host that is not a financial asset and is not designated as at fair value through profit or loss. Gains or losses arising from a change in fair value of an embedded derivative separated from the host contract are recognized in profit or loss as part of net gains or losses on financial instruments at fair value through profit or loss.

3.7.6 Day one gains or losses

If the Group uses a valuation technique that incorporates unobservable inputs for the fair value of the OTC derivatives at initial recognition, there may be a difference between the transaction price and the amount determined using that valuation technique. In these circumstances, the difference is not recognized in profit or loss but deferred and amortized using the straight-line method over the life of the financial instrument. If the fair value is subsequently determined using observable inputs, the remaining deferred amount is recognized in profit or loss as part of net gains or losses on financial instruments at fair value through profit or loss or other operating income or expenses.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.8 Property and Equipment** 

3.8.1 Recognition and measurement

Property and equipment that qualify for recognition as an asset are measured at cost and subsequently carried at its cost less any accumulated depreciation and any accumulated impairment losses.

The cost of property and equipment includes any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management and the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located.

Subsequent expenditures are capitalized only when they prolong the useful life or enhance values of the assets but the costs of the day-to-day servicing of the assets such as repair and maintenance costs are recognized in profit or loss as incurred. When part of an item of property and equipment has a useful life different from that of the entire asset, it is recognized as a separate asset.

3.8.2 Depreciation

Land is not depreciated, whereas other property and equipment are depreciated using the method that reflects the pattern in which the asset's future economic benefits are expected to be consumed by the Group. The depreciable amount of an asset is determined after deducting its residual value.

Each part of an item of property and equipment with a cost that is significant in relation to the total cost of the item is depreciated separately.

The depreciation method and estimated useful life of property and equipment are as follows:

---

| | | |
|:---|:---|:---|
| **Property and equipment** | **Depreciation method** | **Estimated useful life** |
| Buildings | Straight-line | 20~40 years |
| Leasehold improvements | Declining-balance/ Straight-line | 4~15 years |
| Equipment and vehicles | Declining-balance/ Straight-line | 3~15 years |

---

The residual value, the useful life, and the depreciation method applied to an asset are reviewed at each financial year-end and, if expectations differ from previous estimates, the changes are accounted for as a change in an accounting estimate.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.9 Investment Properties** 

3.9.1 Recognition and measurement

Properties held to earn rentals or for capital appreciation or both are classified as investment properties. Investment properties are measured initially at their cost and subsequently the cost model is used.

3.9.2 Depreciation

Land is not depreciated, whereas other investment properties are depreciated using the method that reflects the pattern in which the asset's future economic benefits are expected to be consumed by the Group. The depreciable amount of an asset is determined after deducting its residual value.

The depreciation method and estimated useful life of investment properties are as follows:

---

| | | |
|:---|:---|:---|
| **Investment properties** | **Depreciation method** | **Estimated useful life** |
| Buildings | Straight-line | 20~40 years |

---

The residual value, the useful life, and the depreciation method applied to an asset are reviewed at each financial year-end and, if expectations differ from previous estimates, the changes are accounted for as a change in an accounting estimate.

**3.10 Intangible Assets** 

Intangible assets are measured initially at cost and subsequently carried at their cost less any accumulated amortization and any accumulated impairment losses.

Intangible assets, except for goodwill and membership rights, are amortized using the straight-line or declining-balance method with no residual value over their estimated useful life since the assets are available for use.

---

| | | |
|:---|:---|:---|
| **Intangible assets** | **Amortization method** | **Estimated useful life** |
| Industrial property rights | Straight-line | 3 ~ 19 years |
| Software | Straight-line | 3 ~ 5 years |
| Others | Straight-line / Declining-balance | 1 ~ 13 years |

---

The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at each financial year-end. Where an intangible asset is not being amortized because its useful life is indefinite, the Group carries out a review in each accounting period to confirm whether events and circumstances still support an indefinite useful life assessment. If they do not, the change in the useful life assessment from indefinite to finite is accounted for as a change in an accounting estimate.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.10.1 Goodwill

3.10.1.1 Recognition and measurement

Goodwill related to business combinations before January 1, 2010, is stated at its carrying amount, which was recognized under the Group's previous accounting policy, prior to the transition to Korean IFRS.

Goodwill acquired from business combinations after January 1, 2010, is initially measured as the excess of the consideration transferred over the fair value of net identifiable assets acquired and liabilities assumed. If the fair value of net identifiable assets acquired and liabilities assumed exceeds the consideration transferred, the difference is recognized in profit or loss.

For each business combination, the Group decides at the acquisition date whether the non-controlling interests in the acquiree are initially measured at fair value or at the non-controlling interests' proportionate share in the recognized amounts of the acquiree's identifiable net assets.

Acquisition-related costs incurred to effect a business combination are charged to expenses in the periods in which the costs are incurred and the services are received, except for the costs to issue debt or equity securities.

3.10.1.2 Additional acquisitions of non-controlling interests

Additional acquisitions of non-controlling interests are accounted for as equity transactions. Therefore, no additional goodwill is recognized.

3.10.1.3 Subsequent measurement

Goodwill is not amortized and is stated at cost less accumulated impairment losses. However, goodwill that forms part of the carrying amount of an investment in associates is not separately recognized and an impairment loss recognized is not allocated to any asset, including goodwill, which forms part of the carrying amount of the investment in the associates.

3.10.2 Subsequent expenditures

Subsequent expenditures are capitalized only when they enhance values of the assets. Internally generated intangible assets, such as goodwill and trade name, are not recognized as assets but expensed as incurred.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.11 Impairment of Non-financial Assets** 

The Group assesses at the end of each reporting period whether there is any indication that a non-financial asset, except for (a) deferred income tax assets, (b) assets arising from employee benefits and (c) non-current assets (or group of assets to be sold) classified as held for sale, may be impaired. If any such indication exists, the Group estimates the recoverable amount of the asset. However, irrespective of whether there is any indication of impairment, the Group tests (a) goodwill acquired in a business combination, (b) intangible assets with an indefinite useful life and (c) intangible assets not yet available for use for impairment annually by comparing their carrying amount with their recoverable amount.

The recoverable amount is estimated for the individual asset. If it is not possible to estimate the recoverable amount of the individual asset, the Group determines the recoverable amount of the cash-generating unit to which the asset belongs. A cash-generating unit is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. The recoverable amount of an asset is the higher of its fair value less costs of disposal and its value in use. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit that are discounted by a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the future cash flow estimates have not been adjusted.

If the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. That reduction is an impairment loss and recognized immediately in profit or loss. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the cash-generating units that is expected to benefit from the synergies of the combination. The impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the cash-generating unit and then to the other assets of the unit pro rata on the basis of the carrying amount of each asset in the unit.

An impairment loss recognized for goodwill is not reversed in a subsequent period. The Group assesses at the end of each reporting period whether there is any indication that an impairment loss recognized in prior periods for an asset, other than goodwill, may no longer exist or may have decreased, and an impairment loss recognized in prior periods for an asset other than goodwill shall be reversed if, and only if, there has been a change in the estimates used to determine the asset's recoverable amount since the last impairment loss was recognized. The increased carrying amount of an asset other than goodwill attributable to a reversal of an impairment loss cannot exceed the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognized for the asset in prior years.

**3.12 Non-current Assets Held for Sale** 

A non-current asset or disposal group is classified as held for sale if its carrying amount will be recovered principally through a sale transaction rather than through continuing use. For this to be the case, the asset (or disposal group) must be available for immediate sale in its present condition and its sale must be highly probable. A non-current asset (or disposal group) classified as held for sale is measured at the lower of (a) its carrying amount measured in accordance with the applicable Korean IFRS, immediately before the initial classification of the asset (or disposal group) as held for sale and (b) fair value less costs to sell.

A non-current asset while it is classified as held for sale or while it is part of a disposal group classified as held for sale is not depreciated (or amortized).

Impairment loss is recognized for any initial or subsequent write-down of the asset (or disposal group) to fair value less costs to sell. Gain is recognized for any subsequent increase in fair value less costs to sell of an asset, but not in excess of the cumulative impairment loss that has been recognized.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.13 Financial Liabilities** 

The Group classifies financial liabilities into financial liabilities at fair value through profit or loss or other financial liabilities in accordance with the substance of the contractual arrangement and the definitions of financial liabilities. The Group recognizes financial liabilities in the consolidated statement of financial position when the Group becomes a party to the contractual provisions of the financial liability.

3.13.1 Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading or designated as such at initial recognition. After initial recognition, financial liabilities at fair value through profit or loss are measured at fair value, and changes therein are recognized in profit or loss. At initial recognition, transaction costs that are directly attributable to the acquisition are recognized in profit or loss as incurred.

In relation to securities lending or borrowing transactions, when the Group borrows securities from the Korea Securities Depository and others, these transactions are managed as off-balance sheet items. The borrowed securities are treated as financial liabilities at fair value through profit or loss when they are sold. Changes in fair value at the end of the reporting period and difference between carrying amount at redemption and purchased amount are recognized in profit or loss.

In addition, the change in fair value of the financial liability designated at fair value through profit or loss that is attributable to change in the credit risk of that liability, the Group presents this change in other comprehensive income, and does not recycle this to profit or loss in accordance with Korean IFRS No.1109. However, if this treatment creates or enlarges an accounting mismatch, the Group recognizes this change in profit or loss.

3.13.2 Other financial liabilities

Non-derivative financial liabilities other than financial liabilities at fair value through profit or loss are classified as other financial liabilities. Other financial liabilities include deposits, borrowings, debentures, and others. At initial recognition, other financial liabilities are measured at fair value minus transaction costs that are directly attributable to the acquisition. After initial recognition, other financial liabilities are measured at amortized cost, and its interest expense is recognized, using the effective interest method.

When an asset is sold under repurchase agreement, the Group continues to recognize the asset with the amount sold being accounted for as borrowings. The Group derecognizes a financial liability from the consolidated statement of financial position only when it is extinguished (i.e., when the obligation specified in the contract is discharged, canceled or expires).

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.14 Insurance Contracts** 

KB Insurance Co., Ltd. and KB Life Insurance Co., Ltd., the subsidiaries of the Group, issue insurance contracts. The Group accounts for these contracts by applying Korean IFRS No.1117.

3.14.1 Definition and classification of insurance contracts

Insurance contract is defined as a contract under which one party (the issuer) accepts significant insurance risk from another party (the policyholder) by agreeing to compensate the policyholder if a specified uncertain future event (the insured event) adversely affects the policyholder. This assessment is carried out for each contract individually at the date of inception. The Group determined that the insurance risk related to the contract is significant if the issuer has to pay a significant additional benefits in any scenario that has commercial substance, even if the insured event is extremely unlikely, or even if the expected present value of the contingent cash flows is a small proportion of the expected present value of the remaining cash flows from the insurance contract.

The Group issues insurance contracts that contain participation features, allowing policyholders to participate in the investment returns of the Group, in addition to being compensated for insurance risks. Contracts with participation features are classified as insurance contracts with direct participation features if they meet the following criteria. At the beginning of an insurance contract, the Group evaluates whether the contract meets the following criteria.

• The contractual terms specify that the policyholder participates in a share of a clearly identified pool of
underlying items

• The Group expects to pay to the policyholder an amount equal to a substantial share of the fair value returns on
the underlying items

• the Group expects a substantial proportion of any change in the amounts to be paid to the policyholder to vary
with the change in fair value of the underlying items

Furthermore, the Group issues investment contracts with discretionary participation features, which are associated with groups of assets identical to those of insurance contracts and share similar economic characteristics with insurance contracts.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.14.2 Level of aggregation

The Group identifies portfolios by aggregating insurance contracts subject to similar risks and managed together. Each portfolio is segmented into groups of insurance contracts applying the recognition and measurement requirements of IFRS 17. The Group distinguishes insurance contracts based on their issuance date at initial recognition. A cohort consists of contracts issued within a 12-month period, and is further segmented into three groups based on the possibility of becoming onerous.

• a group of contracts that are onerous at initial recognition

• a group of contracts that at initial recognition have no significant possibility of becoming onerous subsequently

• a group of the remaining contracts in the portfolio

The possibility of insurance contracts, at the lowest level of group of contracts, becoming onerous is determined based on the expected cash flows (fulfillment cash flow decided based on probability weighting) at initial recognition. The Group does not reassess the composition of the groups decided at the initial recognition date subsequently.

3.14.3 Recognition

The group recognizes a group of insurance contracts it issues from the earliest of the following:

• the beginning of the coverage period of the group of contracts

• the date when the first payment from a policyholder in the group becomes due

• for a group of onerous contracts, when the group becomes onerous.

The group delays the recognition of a group of reinsurance contracts held that provide proportionate coverage until the date that any underlying insurance contract is initially recognized, if that date is later than the beginning of the coverage period of the group of reinsurance contracts held.

The group recognizes investment contracts with discretionary participation features at the date the Group becomes a party to the contract.

3.14.4 Contract boundary

Measurement of group of contracts includes all future cash flows within the contract boundaries. The Group decides that cash flows are within the boundary of an insurance contract if they arise from substantive rights and obligations that exist during the reporting period in which the entity can compel the policyholder to pay the premiums or in which the entity has a substantive obligation to provide the policyholder with insurance contract services.

A substantive obligation to provide insurance contract services ends when:

• The Group has the practical ability to reassess the risks of the particular policyholder and, as a result, can
set a price or level of benefits that fully reflects those risks

• The Group has the practical ability to reassess the risks of the portfolio of insurance contracts that contains
the contract and, as a result, can set a price or level of benefits that fully reflects the risk of that portfolio; and the pricing of the premiums up to the date when the risks are reassessed does not take into account the risks that relate to
periods after the reassessment date.

The Group evaluates contract boundaries at initial recognition and each subsequent reporting date to reflect changes in circumstances affecting substantive rights and obligations.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.14.5 Measurement: Insurance contracts not applying the premium allocation approach

3.14.5.1 Measurement on initial recognition

The group measures group of contracts as the sum of the fulfillment cash flows and the contractual service margin at the initial measurement. Fulfillment cash flows comprise estimates of future cash flows, an adjustment to reflect the time value of money and the financial risks related to the future cash flows, and a risk adjustment for non-financial risk.

Estimates of future cash flows is calculated by the probability-weighted average of all possible outcomes using all reasonable and supportable information available without undue cost or effort, considering both market and non-market variables, for cash flows within the contract boundary. The Group updates the estimates using all new information available, including information about past trends and evidence.

The risk adjustment for non-financial risk represents a liability that reflects the compensation that the insurer requires for bearing the uncertainty about the amounts and timing of cash flows arising from non-financial risk. Non-financial risks that are the subject of risk adjustment include insurance risk and other non-financial risks (such as lapse risk and expense risk). The Group calculates the risk adjustment for non-financial risk using techniques such as the confidence level method and the cost of capital method. The Group calculates the risk adjustment for non-financial risk at the level of the company, and after considering diversification effects, allocates it to individual groups of insurance contracts.

Contractual service margin represents the unearned profit the entity will recognize as it provides insurance contract services in the future. The group measures the contractual service margin on initial recognition of a group of insurance contracts at an amount that results in no income or expenses if the fulfillment cash flows at the initial recognition are net inflows. On the other hand, if the fulfillment cash flows are net outflow at the initial recognition, the Group classifies the group of contracts as an onerous group, recognizes the expected net outflow as an expense and manages loss component for subsequent measurement.

3.14.5.2 Subsequent measurement of the general measurement model

At the end of each reporting period, the carrying amount of group of contracts is the sum of estimated liability for incurred claims and liability for remaining coverage. Liability for remaining coverage comprises contractual service margin and expected fulfillment cash flows related to future services allocated to the group of contracts at the end of the reporting period. Liability for incurred claims comprises unpaid claims and insurance expenses, including reported but not yet paid claims, incurred but not reported claims, and dividends payable according to supervisory regulations.

The Group updates the fulfillment cash flows of both liability for incurred claims and liability for remaining coverage at each reporting date to reflect current estimates of the amounts, timing, and uncertainty of future cash flows, considering not only discount rates and other financial variables but also non-financial risk.

Experience adjustments is the differences between the following:

• The estimated expected cash flows at the beginning of reporting period and the actual cash flows received during
the reporting period (including premiums received, cash flows related to insurance acquisition, and premium taxes paid)

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.14.5.2 Subsequent measurement of the general measurement model (cont'd)

• The estimated expected cash flows at the beginning of reporting period and the actual insurance service expenses
incurred during the reporting period (excluding insurance acquisition costs)

Experience adjustments related to current or past services are recognized in profit or loss. For incurred claims (including those that have been incurred but not reported) and other incurred insurance service expenses, experience adjustments are always related to current or past services and are included as part of insurance service expenses in profit or loss. Changes in fulfillment cash flows related to future services are included in liability for remaining coverage by adjusting contractual service margin.

For insurance contracts without direct participation features, the carrying amount of the contractual service margin of a group of contracts at the end of the reporting period equals the carrying amount at the start of the reporting period adjusted for:

• the effect of any new contracts added to the group

• interest accreted on the carrying amount of the contractual service margin during the reporting period, measured
at the discount rates determined at initial recognition

• the changes in fulfilment cash flows relating to future service, except to the extent that:

(i) such increases in the fulfilment cash flows exceed the carrying amount of the contractual service margin,
giving rise to a loss

(ii) such decreases in the fulfilment cash flows are allocated to the loss component of the liability for remaining
coverage

• the effect of any currency exchange differences on the contractual service margin

• the amount recognized as insurance revenue because of the transfer of insurance contract services in the period,
determined by the allocation of the contractual service margin remaining at the end of the reporting period.

When fulfillment cash flows related to future services increase additionally, the cash flows result in an increase in the loss component of the group of contracts, and the increased loss component is recognized in profit or loss when the cash flows occur. Subsequently, decreases in fulfillment cash flows related to future services do not adjust contractual service margin until the loss component is fully recovered through profit or loss.

3.14.5.3 Subsequent Measurement of the Variable Fee Approach

The Group issues insurance contracts with direct participation features that provide significant investment-related services. Except for the following, the Group applies the same accounting policy for measuring insurance contracts under the variable fee approach as for measuring insurance contracts under the general measurement model.

For insurance contracts with direct participation features, the carrying amount of the contractual service margin of a group of contracts at the end of the reporting period equals the carrying amount at the start of the reporting period adjusted for the amounts specified below:

• the effect of any new contracts added to the group

• the change in the amount of the Group's share of the fair value of the underlying items except to the
extent that

(i) The amount of contractual service margin recognized in profit or loss due to the offsetting effect of risk
mitigation instruments

(ii) the decrease in the amount of the Group's share of the fair value of the underlying items exceeding the
carrying amount of the contractual service margin, giving rise to a loss

(iii) the increase in the amount of the Group's share of the fair value of the underlying items that causes
reversal of loss component of an onerous group

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.14.5.3 Subsequent Measurement of the Variable Fee Approach (cont'd)

• the changes in fulfilment cash flows relating to future service, except to the extent that:

(i) The amount of contractual service margin recognized in profit or loss due to the offsetting effect of risk
mitigation instruments

(ii) The increases in the fulfilment cash flows that exceeds the carrying amount of the contractual service margin,
giving rise to a loss

(iii) The decreases in the fulfilment cash flows that causes reversal of loss component of an onerous group

• the effect of any currency exchange differences arising on the contractual service margin

• the amount recognized as insurance revenue because of the transfer of insurance contract services in the period,
determined by the allocation of the contractual service margin remaining at the end of the reporting period (before any allocation) over the current and remaining coverage period

All adjustments to contractual service margins are measured, considering the present value of currency, which is currently measured, taking into account all financial variables that affect the fair value gains arising from the underlying items. When applying the variable fee approach, the changes in the fulfillment cash flows adjusting the contractual service margin is composed of changes in the Group's share of the fair value of the underlying items and the changes in the fulfillment cash flows that do not vary based on returns on the underlying items. the changes in the fulfillment cash flows that do not vary based on returns on the underlying items are as follows:

• changes in the effect of currency risk and the effect of financial risk not arising from underlying items, such
as the impact of financial guarantees

• experience adjustments arising from premiums received during the period related to future services

• changes in estimated future cash flows of liability for remaining coverage

• differences in the payment timing of investment components

• changes in risk adjustment for non-financial risk related to future
services

3.14.5.4 Reinsurance contract

The Group applies the same accounting policy for measuring reinsurance contracts as for measuring insurance contracts, except for the following.

The Group includes all effects of risks related to the reinsurer's default (including effects from security and losses due to disputes) when measuring the reinsurance contract group. The Group remeasures the effects of the reinsurer's default risk at the end of each reporting period and recognizes the changes in the effects of default risk in profit or loss. The Group calculates the risk adjustment for non-financial risks to reflect the risks transferred to the reinsurer. Reinsurance contracts are not classified as onerous groups and do not recognize in profit or loss the expected outflows at the initial recognition, even if the fulfillment cash flows at initial recognition are outflows, considering the nature of reinsurance. However, if the net cost of purchasing reinsurance coverage is related to events that have occurred before the reinsurance contract is purchased, such costs are recognized as expenses immediately.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.14.5.5 Insurance revenue

The Group recognizes insurance revenue as the amount the Group expects to be entitled in exchange for provision of services arising from group of insurance contracts. Total insurance revenue for group of contracts is the amount received in premiums for the contracts, adjusted for financial effects and excluding all investment elements.

The amount of contractual service margin recognized as insurance revenue during the reporting period is determined by allocating the unamortized contractual service margin at the end of the reporting period for each unit of coverage provided during the reporting period and expected to be provided in the future. The number of coverage units in a group of contracts is the quantity of insurance contract services provided from insurance contracts within the group, and is determined based on the number of benefits provided and the expected duration of coverage under each contract.

Insurance acquisition cash flows are systematically allocated over each reporting period, recognized in equal amounts of insurance revenue and insurance expenses.

Loss component is allocated systematically, and the total amount allocated to the loss component becomes zero by the end of the coverage period of group of contracts. The portion of the allocated loss component for the reporting period is excluded from recognition in both insurance revenue and insurance expenses.

3.14.5.6 Insurance finance income or expenses

Insurance finance income consists of changes in the carrying amount of the groups of insurance contracts and reinsurance contracts arising from the effect of the time value of money and financial risk. The Group decides whether to disaggregate insurance finance income or expenses for the period between profit or loss and other comprehensive income for each portfolio. Systematic allocation involves allocating the expected total insurance finance income or expenses over the duration of the group of contracts, and recognizing the portion attributed to the reporting period in profit or loss and the remaining portion in other comprehensive income.

For insurance contracts where changes in financial risk related assumptions significantly impact the amounts paid to policyholders, the Group uses a single discount rate to allocate the modified expected insurance finance income or expenses for the remaining coverage period of the group of contracts. Otherwise, the Group calculates insurance finance income or expenses using the discount rate determined at the date of initial recognition.

Insurance finance income or expenses arising from contractual service margin is systematically allocated using the discount rate determined at the date of initial recognition.

When the Group transfers insurance contracts to a third party or derecognize them due to changes in insurance contract terms, the accumulated other comprehensive income related to those insurance contracts is reclassified to profit or loss.

3.14.5.7 Reinsurance revenue and expenses

The Group recognizes separately the amounts recovered from reinsurers and the allocation of reinsurance premiums paid in reinsurance contracts. Changes in the carrying amount of reinsurance assets for remaining coverage resulting from the reinsurance services received are recognized as reinsurance expenses, while amounts recovered from reinsurers are recognized as reinsurance income.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.14.6 Premium allocation approach

3.14.6.1 Underlying insurance

For general insurance and automobile insurance, if the coverage period of each contract within the group of contracts (including insurance contract services within the contract boundary) is less than one year or if the premium allocation approach is reasonably expected to measure the liability for remaining coverage for the group without significant differences from the application of the general model requirements, the premium allocation approach is applied to simplify the measurement of the group of insurance contracts.

The carrying amount of the liability for remaining coverage at the time of initial recognition of each group of contract is calculated by deducting the insurance acquisition cash flows allocated to the group of insurance at the acquisition date from the premium receipts at the time of initial recognition, and adding or subtracting the amount resulting from removing previously recognized assets or liabilities for cash flows related to the group of contract at the time of initial recognition.

Subsequently, the carrying amount of the liability for remaining coverage is calculated by adding the received premiums and the amortization of the insurance acquisition cash flows, and deducting the insurance acquisition cash flows and the amount recognized as insurance revenue for services provided. However, if the insurance acquisition cash flows recognized as expenses when it incurs those costs because the coverage period of each contract in the group at initial recognition is no more than one year, the insurance acquisition cash flow is not considered for calculating the liability for remaining coverage.

If at any time during the coverage period, facts and circumstances indicate that a group of insurance contracts is onerous, the difference between the carrying amount of the liability for remaining coverage and the current estimate of the fulfilment cash flows related is calculated, added to the the liability for remaining coverage, and recognized as a loss in profit or loss.

The Group determines that the liability for remaining coverage subject to the insurance premium allocation approach do not have significant financial elements, and therefore does not adjust the carrying amount of the liability for remaining coverage for reflecting the effect of the time value of money and financial risk.

3.14.6.2 Reinsurance

The Group applies the same accounting policy for measuring reinsurance contracts applying the premium allocation approach (general reinsurance, automobile reinsurance, and long-term non-proportional reinsurance) as for measuring insurance contracts with the exception of the following: The Group includes all effects of risks related to the reinsurer's default (including effects from security and losses due to disputes) when measuring the reinsurance contract group. The Group remeasures the effects of the reinsurer's default risk at the end of each reporting period and recognizes the changes in the effects of default risk in profit or loss. Reinsurance contracts are not classified as onerous groups and do not recognize in profit or loss the expected outflows at the initial recognition, even if the fulfillment cash flows at initial recognition are outflows, considering the nature of reinsurance. However, if the net cost of purchasing reinsurance coverage is related to events that have occurred before the reinsurance contract is purchased, such costs are recognized as expenses immediately.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.14.7 Modification and derecognition

The Group derecognizes an insurance contract when the insurance contract is extinguished because of reasons such as obligation specified in the insurance contract having been expired, discharged or cancelled. Additionally, if the conditions of the contract have changed to such an extent that the accounting treatment of the contract would have been significantly different had the new conditions existed from the beginning, the Group derecognizes the existing contract and recognizes it as a new contract. If the change in contract conditions is not significant, the Group accounts for it as a change in the estimate of fulfillment cash flows.

**3.15 Provisions** 

Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Inevitable risks and uncertainties surrounding related events and circumstances are considered in measuring the best estimate of the provisions, and where the effect of the time value of money is material, the amount of provisions is the present value of the expenditures expected to be required to settle the obligation.

Provisions for confirmed and unconfirmed acceptances and guarantees, and unused credit lines of consumer and corporate loans are recognized using a valuation model that applies the credit conversion factor, PD, and LGD.

Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provisions are reversed.

An onerous contract is a contract in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The unavoidable costs under a contract reflect the least net cost of exiting from the contract, which is the lower of the cost of fulfilling it and any compensation or penalties arising from failure to fulfill it. If the Group has a contract that is onerous, the present obligation under the contract is recognized and measured as provisions.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.16 Financial Guarantee Contracts** 

Financial guarantee contracts require the issuer to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payments when due in accordance with the original or modified terms of a debt instrument.

Financial guarantee contracts are initially recognized at fair value and classified as other liabilities and are amortized over the contractual term. After initial recognition, financial guarantee contracts are measured at the higher of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The amount determined in accordance with Korean IFRS No.1109 *Financial Instruments* and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The amount initially recognized less, when appropriate, the cumulative amount of income recognized in accordance
with Korean IFRS No.1115 *Revenue from Contracts with Customers.* 

**3.17 Equity Instrument Issued by the Group** 

An equity instrument is any contract or agreement that evidences a residual interest in the assets of an entity after deducting all of its liabilities.

3.17.1 Ordinary shares

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or the exercise of stock option are deducted from the equity, net of any tax effects.

3.17.2 Hybrid securities

The financial instruments can be classified as either financial liabilities or equity in accordance with the terms of the contract. The Group classifies hybrid securities as an equity if the Group has the unconditional right to avoid any contractual obligation to deliver cash or another financial asset in relation to the financial instruments. However, hybrid securities issued by subsidiaries are classified as non-controlling interests, dividends are recognized in the consolidated statement of comprehensive income as profit attributable to non-controlling interests.

3.17.3 Treasury shares

If the Group acquires its own equity instruments, these are accounted for as treasury shares and are deducted directly from equity. No gains or losses are recognized in profit or loss on the purchase, sale, issue or retirement of own equity instruments. If an entity within the Group acquires and retains treasury shares, the consideration paid or received is directly recognized in equity.

3.17.4 Compound financial instruments

A compound financial instrument is classified as a financial liability or an equity instrument depending on the substance of the contractual arrangement of such financial instrument. The liability component of the compound financial instrument is measured at fair value of the similar liability without conversion option at initial recognition and subsequently measured at amortized cost using effective interest method until it is extinguished by conversion or matured. Equity component is initially measured at fair value of compound financial instrument in its entirety less fair value of liability component net of tax effect, and it is not remeasured subsequently.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.18 Revenue Recognition** 

The Group recognizes revenues in accordance with the following steps determined in accordance with Korean IFRS No.1115 *Revenue from Contracts with Customers*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Step 1: Identify the contract with a customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Step 2: Identify the performance obligations in the contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Step 3: Determine the transaction price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Step 4: Allocate the transaction price to the performance obligations in the contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

3.18.1 Interest income and expense

Interest income and expense on debt securities at fair value through profit or loss (excluding beneficiary certificates, equity investments, and other debt instruments), loans, financial instruments at amortized cost, and debt securities at fair value through other comprehensive income are recognized in the consolidated statement of comprehensive income using the effective interest method in accordance with Korean IFRS No.1109 *Financial Instruments*. The effective interest method is a method of calculating the amortized cost of a financial asset or a financial liability and allocating the interest income or interest expense over the relevant period.

The effective interest rate is the rate that exactly discounts estimated future cash receipts or payments through the expected life of the financial instrument or, where appropriate, a shorter period, to the gross carrying amount of a financial asset or to the amortized cost of a financial liability. When calculating the effective interest rate, the Group estimates expected cash flows by considering all contractual terms of the financial instrument but does not consider expected credit losses. The calculation includes all fees and points paid (main components of effective interest rate only) or received between parties to the contract that are an integral part of the effective interest rate, transaction costs, and all other premiums or discounts. In those rare cases when it is not possible to reliably estimate the cash flows and the expected life of a financial instrument, the Group uses the contractual cash flows over the full contractual term of the financial instrument.

Interest income on impaired financial assets is recognized using the interest rate used to discount the expected cash flows for the purpose of measuring the impairment loss.

Interest income on debt securities at fair value through profit or loss is also classified as interest income in the consolidated statement of comprehensive income.

3.18.2 Fee and commission income

The Group recognizes financial service fees in accordance with the purpose of charging the fees and the accounting standards of the financial instrument related to the fees earned.

3.18.2.1 Fees that are an integral part of the effective interest of a financial instrument

Such fees are generally treated as adjustments of effective interest rate. Such fees may include compensation for activities such as evaluating the borrower's financial condition, evaluating and recording guarantees, collateral and other security arrangements, negotiating the terms of the instrument, preparing and processing documents, and closing the transaction and origination fees received on issuing financial liabilities at amortized cost. However, fees relating to the creation or acquisition of a financial instrument at fair value through profit or loss are recognized as revenue immediately.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.18.2.2 Fees related to performance obligations satisfied over time

If the control of a good or service is transferred over time, the Group recognizes revenue related to performance obligations over the period of performance obligations. Fees charged in return for the services for a certain period of time, such as asset management fees, consignment business fees, etc. are recognized over the period of performance obligations.

3.18.2.3 Fees related to performance obligations satisfied at a point in time

Fees earned at a point in time are recognized as revenue when a customer obtains controls of a promised good or service and the Group satisfies a performance obligation.

Commission on negotiation or participation in negotiation for the third party such as trading stocks or other securities, arranging merger and acquisition of business, is recognized as revenue when the transaction has been completed.

If the Group arranges a syndicated loan but does not participate in the syndicated loan or participates in the syndicated loan with the same effective profit as other participants, a syndication arrangement fee is recognized as revenue at the completion of the syndication service.

3.18.3 Net gains or losses on financial instruments at fair value through profit or loss

Net gains or losses on financial instruments at fair value through profit or loss (including changes in fair value, dividends, and gains or losses from foreign currency translation) include gains or losses on financial instruments as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gains or losses relating to financial instruments at fair value through profit or loss (excluding interest income
using the effective interest rate method)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gains or losses relating to derivative financial instruments for trading (including derivative financial
instruments for hedging purpose but do not qualify for hedge accounting)

3.18.4 Dividend income

Dividend income is recognized in profit or loss when the right to receive payment is established. Dividend income is recognized as net gains or losses on financial instruments at fair value through profit or loss or other operating income depending on the classification of equity securities.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.19 Employee Compensation and Benefits** 

3.19.1 Post-employment benefits

3.19.1.1 Defined contribution plans

When an employee has rendered service to the Group during a period, the Group recognizes the contribution payable to a defined contribution plan in exchange for that service as post-employment benefits for the period.

3.19.1.2 Defined benefit plans

All post-employment benefits, other than defined contribution plans, are classified as defined benefit plans. The amount recognized as a net defined benefit liability is the present value of the defined benefit obligation less the fair value of plan assets at the end of the reporting period.

The present value of the defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The rate used to discount post-employment benefit obligations is determined by reference to market yields at the end of the reporting period on high quality corporate bonds. The currency and term of the corporate bonds are consistent with the currency and estimated term of the post-employment benefit obligations. Actuarial gains and losses resulted from changes in actuarial assumptions and experience adjustments are recognized in other comprehensive income.

When the present value of the defined benefit obligation minus the fair value of plan assets results in an asset, it is recognized to the extent of the present value of any economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan.

Past service cost is the change in the present value of the defined benefit obligation for employee service in prior periods, resulting from the introduction or changes to a defined benefit plan. Such past service cost is immediately recognized as an expense for the period.

3.19.2 Short-term employee benefits

Short-term employee benefits are employee benefits that are expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related service. When an employee has rendered service to the Group during an accounting period, the Group recognizes the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service as an expense for the period.

The expected cost of profit-sharing and bonus payments is recognized as liabilities when the Group has a present legal or constructive obligation to make payments as a result of past events, such as service rendered by employees, and a reliable estimate of the obligation can be made.

3.19.3 Share-based payment

The Group provides its executives and employees with stock grants, mileage stock, and long-term share-based payments programs. When stock grants are exercised, the Group can either select to distribute newly issued shares or treasury shares or compensate in cash based on the share price. When mileage stock and long-term share-based payments are exercised, the Group pays the amount equivalent to share price of KB Financial Group Inc. in cash.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.19.3 Share-based payment (cont'd)

For a share-based payment transaction in which the terms of the arrangement provide the Group with the choice of whether to settle in cash or by issuing equity instruments, the Group accounts for the transaction in accordance with the requirements applying to cash-settled share-based payment transactions because the Group determines that it has a present obligation to settle in cash based on a past practice and a stated policy of settling in cash. Therefore, the Group measures the liability incurred as consideration for the service received at fair value and recognizes related expense and accrued expense over the vesting periods. For mileage stock and long-term share-based payments program, the Group accounts for the transaction in accordance with the requirements applying to cash-settled share-based payment transactions, which are recognized as expense and accrued expenses at the time of vesting.

Until the liability is settled, the Group remeasures the fair value of the liability at the end of each reporting period and at the date of settlement, with any changes in fair value recognized in profit or loss as share-based payments.

3.19.4 Termination benefits

Termination benefits are payable when employment is terminated by the Group before the normal retirement date, or an employee's decision to accept an offer of benefits in exchange for the termination of employment. The Group recognizes a liability and expense for termination benefits at the earlier of the following dates; when the Group can no longer withdraw the offer of those benefits and when the Group recognizes costs for a restructuring that is within the scope of Korean IFRS No.1037 and involves the payment of termination benefits. If the termination benefits are not expected to be settled wholly before twelve months after the end of the annual reporting period, then the termination benefits are discounted to present value.

**3.20 Income Tax Expense** 

Income tax expense comprises current tax expense and deferred income tax expense. Current and deferred income tax are recognized as income or expense and included in profit or loss for the period, except to the extent that the tax arises from (a) a transaction or event which is recognized, in the same or a different period, outside profit or loss, either in other comprehensive income or directly in equity and (b) a business combination.

3.20.1 Current income tax

Current income tax is the amount of income tax payable (recoverable) in respect of the taxable profit (tax loss) for a period. A difference between the taxable profit and accounting profit may arise when income or expense is included in accounting profit in one period but is included in taxable profit in a different period. Differences may also arise if there is revenue that is exempt from taxation, or expense that is not deductible in determining taxable profit (loss). Current income tax liabilities for the current and prior periods are measured using the tax rates that have been enacted or substantively enacted by the end of the reporting period.

The Group offsets current income tax assets and current income tax liabilities if, and only if, the Group (a) has a legally enforceable right to set off the recognized amounts and (b) intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.

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**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

3.20.2 Deferred income tax

Deferred income tax is recognized, using the asset-liability method, on temporary differences arising between the tax-based amount of assets and liabilities and their carrying amount in the financial statements. Deferred income tax liabilities are recognized for all taxable temporary differences and deferred income tax assets are recognized for all deductible temporary differences to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilized. However, deferred income tax liabilities are not recognized if they arise from the initial recognition of goodwill; deferred income tax assets and liabilities are not recognized if they arise from the initial recognition of an asset or liability in a transaction that is not a business combination, and at the time of the transaction, affects neither accounting nor taxable profit or loss.

The Group recognizes a deferred income tax liability for all taxable temporary differences associated with investments in subsidiaries, associates, and joint ventures, except to the extent that the Group is able to control the timing of the reversal of the temporary difference, and it is probable that the temporary difference will not reverse in the foreseeable future.

The carrying amount of a deferred income tax asset is reviewed at the end of each reporting period. The Group reduces the carrying amount of a deferred income tax asset to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of that deferred income tax asset to be utilized.

Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred income tax liabilities and deferred income tax assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

The Group offsets deferred income tax assets and deferred income tax liabilities if, and only if the Group has a legally enforceable right to set off current income tax assets against current income tax liabilities and the deferred income tax assets and the deferred income tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current income tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred income tax liabilities or assets are expected to be settled or recovered.

3.20.3 Uncertain tax positions

Uncertain tax positions arise from tax treatments applied by the Group which may be challenged by the tax authorities due to the complexity of the transaction or different interpretation of the tax laws, such as a claim for rectification, a claim for a refund related to additional tax or a tax investigation by the tax authorities. The Group recognizes its uncertain tax positions in the consolidated financial statements in accordance with Korean IFRS No.1012 and Interpretation of Korean IFRS No.2123. The income tax asset is recognized if a tax refund is probable for taxes levied by the tax authority, and the amount to be paid as a result of the tax investigation and others is recognized as the current tax payable. However, penalty tax and additional refund on tax are regarded as penalty or interest and are accounted for in accordance with Korean IFRS No.1037.

3.20.4 Global minimum tax

The Group is subject to the global minimum tax under Pillar 2 legislation and has applied the exemption from recognizing and disclosing related deferred tax.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.21 Earnings per Share** 

The Group calculates basic earnings per share amounts and diluted earnings per share amounts for profit or loss attributable to ordinary equity holders of the Parent Company and presents them in the consolidated statement of comprehensive income. Basic earnings per share is calculated by dividing profit or loss attributable to ordinary equity holders of the Parent Company by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is calculated by adjusting the profit or loss attributable to ordinary equity holders of the Parent Company and weighted average number of shares outstanding, taking into account all potential dilution effects, such as exchangeable bonds and share-based payments given to employees.

**3.22 Leases** 

The Group as a lessor recognizes lease payments from operating leases as income on a straight-line basis over the lease term. Initial direct costs incurred in obtaining an operating lease are added to the carrying amount of the underlying asset and recognized as expense over the lease term on the same basis as lease income. The respective leased assets are included in the consolidated statement of financial position based on their nature.

A lessee is required to recognize a right-of-use asset (lease assets) representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments. Assets and liabilities arising from a lease are initially measured at the present value.

Lease liabilities include the net present value of the following lease payments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed payments (including in-substance fixed payments), less any lease
incentives receivable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Variable lease payments that depend on an index or a rate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Amounts expected to be payable by the lessee under residual value guarantees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to
terminate the lease

The lease payments are discounted using the interest rate implicit in the lease if that rate can be readily determined. If that rate cannot be readily determined, the lessee's incremental borrowing rate is used, which is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.

Right-of-use assets are measured at cost comprising the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The amount of the initial measurement of the lease liability

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any lease payments made at or before the commencement date, less any lease incentives received

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any initial direct costs incurred by the lessee, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An estimate of restoration costs

However, the Group can elect not to apply the requirements of Korean IFRS No.1116 to short-term lease (lease that, at the commencement date, has a lease term of 12 months or less) and leases for which the underlying asset is of low value (for example, underlying leased asset under USD 5,000).

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**3.22 Leases (cont'd)** 

The right-of-use asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term.

For sale and leaseback transactions, the Group applies the requirements of Korean IFRS No.1115 *Revenue from Contracts with Customers*, to determine whether the transfer of an asset is accounted for as a sale of that asset.

**3.23 Operating Segments** 

The Group identifies its operating segments based on internal reports which are regularly reviewed by the chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance.

Segment information includes items which are directly attributable and can be allocated to the segment on a reasonable basis.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**4. Financial Risk Management** 

4.1 Summary

4.1.1 Overview of financial risk management policy

The financial risks that the Group is exposed to are credit risk, market risk, liquidity risk, operational risk, and others.

This note regarding financial risk management provides information about the risks that the Group is exposed to and about its objectives, policies, risk assessment and management procedures, and capital management. Additional quantitative information is disclosed throughout the consolidated financial statements.

The Group's risk management system focuses on efficiently supporting long-term strategy and management decisions of the Group by increasing risk transparency, preventing risk transfer between subsidiaries and preemptive response to rapidly changing financial environments. Credit risk, market risk, operational risk, interest rate risk, insurance risk, liquidity risk, credit concentration risk, strategy risk, reputation risk, and foreign exchange settlement risk are recognized as the Group's significant risks and measured and managed according to regulatory capital and internal capital standards.

4.1.2 Risk management organization

4.1.2.1 Risk Management Committee

The Risk Management Committee, as the ultimate decision-making body, deals with risk-related issues, such as establishing risk management strategies in accordance with the strategic direction determined by the board of directors, determining the affordable level of risk appetite, reviewing the level of risk and the status of risk management activities, approving the application of risk management systems, methodologies, and major improvements, and establishing and approving risk management strategies and procedures to timely recognize, measure, monitor, and control risks arising from various transactions by the Group.

4.1.2.2 Risk Management Council

The Risk Management Council is responsible for consulting on matters delegated by the Risk Management Committee and requests for review by the Management Executive Committee, consulting on details of each subsidiary's risk management strategies and procedures, monitoring the Group's risk management status, and establishing and implementing necessary measures.

4.1.2.3 Risk Management Department

The Risk Management Department performs the Group's risk management detailed strategies, procedures, and business processes, and is responsible for calculating the Group's risk-weighted assets, monitoring and managing internal capital limits.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2 Credit Risk

4.2.1 Overview of credit risk

Credit risk is the risk of loss from the portfolio of assets held due to the counterparty's default, breach of contract, and deterioration of credit quality. For risk management reporting purposes, the Group considers all factors of credit risk exposure, such as default risk of individual borrowers, country risk, and risk of specific sectors in an integrated way.

4.2.2 Credit risk management

The Group measures the expected loss and economic capital for the assets subject to credit risk management, including on-balance and off-balance assets, and uses them as management indicators. The Group allocates and manages credit risk economic capital limits.

In addition, to prevent excessive concentration of exposures by borrower and industry, the total exposure limit at the Group level is introduced, applied, and managed to control the credit concentration risk.

All of the Kookmin Bank's loan customers (individuals and corporates) are assigned a credit rating and managed by a comprehensive internal credit evaluation system. For individuals, the credit rating is evaluated by utilizing personal information, income and job information, asset information, and bank transaction information. For corporates, the credit rating is evaluated by analyzing and utilizing financial and non-financial information which measures current and future corporate value and ability to repay the debt. Also, the extent to which corporates have the ability to meet debt obligations is comprehensively considered.

The credit rating, once assigned, serves as the fundamental instrument in Kookmin Bank's credit risk management, and is applied in a wide range of credit risk management processes, including credit approval, credit limit management, loan pricing, and assessment of allowances for credit losses. For corporates, Kookmin Bank conducts a regular credit evaluation at least once a year, and the review and supervision departments regularly validate the adequacy of credit ratings to manage credit risks.

KB Kookmin Card Co., Ltd.'s credit scoring system is divided into Application Scoring System ("ASS") and Behavior Scoring System ("BSS"). For applications that meet the eligibility criteria for card issuance, the card will be issued only if the ASS credit rating is above the standard. KB Kookmin Card Co., Ltd.'s internal information, external information from the credit bureau company and others, and personal information on the application are used to calculate the ASS credit rating. The BSS, which is recalculated on a weekly basis, predicts the delinquency probability of cardholders, and utilizes it to monitor cardholders and portfolio risk.

In order to establish a credit risk management system, the Group manages credit risk by forming a separate risk management organization. In particular, independently of the Sales Group, the Credit Management & Analysis Group of Kookmin Bank, a subsidiary, is in charge of loan policy, loan system, credit rating, credit analysis, follow-up management, and corporate restructuring. The Risk Management Group of Kookmin Bank is responsible for establishing policies on credit risk management, measuring and limiting internal capital of credit risk, setting credit limits, credit review, and verification of credit rating models.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.3 Maximum exposure to credit risk

The Group's maximum exposures to credit risk without consideration of collateral values in relation to financial instruments other than equity securities as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  **Financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions measured at amortized cost \* | W | 32567708 | W | 27790121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions measured at fair value through profit or loss |  | 476717 |  | 218357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at fair value through profit or loss |  | 80553348 |  | 73768636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at fair value through profit or loss |  | 1231012 |  | 1187763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives |  | 8178056 |  | 11730767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost \* |  | 491978044 |  | 472071840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at fair value through other comprehensive income |  | 93312419 |  | 88735996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at amortized cost \* |  | 35067192 |  | 37113552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at fair value through other comprehensive income |  | 1995083 |  | 1446628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets \* |  | 19069696 |  | 14404227 |
|  |  | 764429275 |  | 728467887 |
|  **Off-balance sheet items** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acceptances and guarantees contracts |  | 15503443 |  | 16250243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial guarantee contracts |  | 7209320 |  | 6674740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commitments |  | 213477156 |  | 212695995 |
|  |  | 236189919 |  | 235620978 |
|  | W | 1000619194 | W | 964088865 |

---

\* After netting of allowance

4.2.4 Credit risk of loans

The Group maintains allowances for loan losses associated with credit risk of loans to manage its credit risk.

The Group assesses expected credit losses and recognizes loss allowances of financial assets at amortized cost and financial assets at fair value through other comprehensive income. Financial assets at fair value through profit or loss are excluded. Expected credit losses are a probability-weighted estimate of possible credit losses occurring in a certain range by reflecting reasonable and supportable information that is reasonably available at the end of the reporting period without undue cost or effort, including information about past events, current conditions, and forecasts of future economic conditions. The Group measures the expected credit losses of loans classified as financial assets at amortized cost, by deducting allowances for credit losses. The expected credit losses of loans classified as financial assets at fair value through other comprehensive income are presented in other comprehensive income in the consolidated financial statements.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.4.1 Credit risk exposure

Credit qualities of loans as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
|  **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Corporate** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 150735198 | W | 10805239 | W | 16285 | W | W | 161556722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 76244644 |  | 12311562 |  | 17076 |  |  | 88573282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 3875195 |  | 5515745 |  | 24507 |  |  | 9415447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 832704 |  | 1454812 |  | 46665 |  |  | 2334181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  | 8535 |  | 731636 |  | 2744600 |  |  | 3484771 |
|  |  | 231696276 |  | 30818994 |  | 2849133 |  |  | 265364403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 |  | 183746803 |  | 5416479 |  | 4490 |  |  | 189167772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 7703085 |  | 4084210 |  | 38468 |  |  | 11825763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 3861528 |  | 1248406 |  | 46491 |  |  | 5156425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 171910 |  | 629006 |  | 53419 |  |  | 854335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  | 47663 |  | 624890 |  | 1207903 |  |  | 1880456 |
|  |  | 195530989 |  | 12002991 |  | 1350771 |  |  | 208884751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Credit card** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 |  | 12184584 |  | 534917 |  |  |  |  | 12719501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 4807297 |  | 994230 |  |  |  |  | 5801527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 1659545 |  | 1974678 |  |  |  |  | 3634223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 10458 |  | 364706 |  |  |  |  | 375164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  | 971 |  | 276685 |  | 327015 |  |  | 604671 |
|  |  | 18662855 |  | 4145216 |  | 327015 |  |  | 23135086 |
|  |  | 445890120 |  | 46967201 |  | 4526919 |  |  | 497384240 |
|  **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Corporate** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade1 |  | 1973472 |  |  |  |  |  |  | 1973472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade2 |  | 21611 |  |  |  |  |  |  | 21611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade3 |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade4 |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade5 |  |  |  |  |  |  |  |  |  |
|  |  | 1995083 |  |  |  |  |  |  | 1995083 |
|  |  | 1995083 |  |  |  |  |  |  | 1995083 |
|  | W | 447885203 | W | 46967201 | W | 4526919 | W | W | 499379323 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.4.1 Credit risk exposure (cont'd)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
|  **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Corporate** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 145582892 | W | 7629290 | W | 2896 | W | W | 153215078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 74005609 |  | 11446162 |  | 12845 |  |  | 85464616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 3757237 |  | 5195235 |  | 14777 |  |  | 8967249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 861581 |  | 1091261 |  | 28368 |  |  | 1981210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  | 18395 |  | 691118 |  | 3066032 |  |  | 3775545 |
|  |  | 224225714 |  | 26053066 |  | 3124918 |  |  | 253403698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Retail** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 |  | 175229905 |  | 4814560 |  | 6804 |  |  | 180051269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 8048905 |  | 4071783 |  | 39224 |  |  | 12159912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 4213155 |  | 1546848 |  | 33207 |  |  | 5793210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 315926 |  | 368863 |  | 34997 |  |  | 719786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  | 49595 |  | 867276 |  | 1182000 |  |  | 2098871 |
|  |  | 187857486 |  | 11669330 |  | 1296232 |  |  | 200823048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Credit card** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 |  | 11554106 |  | 195328 |  |  |  |  | 11749434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 5528025 |  | 584962 |  |  |  |  | 6112987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 2575397 |  | 1640995 |  |  |  |  | 4216392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 12202 |  | 476827 |  |  |  |  | 489029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  | 1068 |  | 320083 |  | 589481 |  |  | 910632 |
|  |  | 19670798 |  | 3218195 |  | 589481 |  |  | 23478474 |
|  |  | 431753998 |  | 40940591 |  | 5010631 |  |  | 477705220 |
|  **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** | **Loans measured at fair value through other comprehensive income** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Corporate** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade1 |  | 1402334 |  |  |  |  |  |  | 1402334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade2 |  | 44294 |  |  |  |  |  |  | 44294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade3 |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade4 |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade5 |  |  |  |  |  |  |  |  |  |
|  |  | 1446628 |  |  |  |  |  |  | 1446628 |
|  |  | 1446628 |  |  |  |  |  |  | 1446628 |
|  | W | 433200626 | W | 40940591 | W | 5010631 | W | W | 479151848 |

---

\* Before netting of allowance

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.4.1 Credit risk exposure (cont'd)

Credit qualities of loans graded according to internal credit ratings as of December 31, 2025 and 2024, are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Range of**<br>**probability of default (%)** | **Retail** | **Corporate** |
|  Grade 1 | 0.0 ~ 1 | 1 ~ 5 grade | AAA ~ BBB+ |
|  Grade 2 | 1.0 ~ 5 | 6 ~ 8 grade | BBB ~ BB |
|  Grade 3 | 5.0 ~ 15 | 9 ~ 10 grade | BB- ~ B |
|  Grade 4 | 15.0 ~ 30 | 11 grade | B- ~ CCC |
|  Grade 5 | 30.0 ~ | 12 grade or under | CC or under |

---

4.2.4.2 Quantification of the extent to which collateral and other credit enhancements mitigate credit risk of loans as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** | **Total** | **Total** |
|  Guarantees | W | 118325461 | W | 13368234 | W | 354137 | W | 132047832 |
|  Deposits and savings |  | 3263931 |  | 152943 |  | 10512 |  | 3427386 |
|  Property and equipment |  | 15781206 |  | 1105274 |  | 196548 |  | 17083028 |
|  Real estate |  | 224337077 |  | 22748365 |  | 1956575 |  | 249042017 |
|  | W | 361707675 | W | 37374816 | W | 2517772 | W | 401600263 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** | **Total** | **Total** |
|  Guarantees | W | 120868541 | W | 8349217 | W | 498290 | W | 129716048 |
|  Deposits and savings |  | 2792768 |  | 127130 |  | 11704 |  | 2931602 |
|  Property and equipment |  | 15498262 |  | 1071833 |  | 227196 |  | 16797291 |
|  Real estate |  | 214770163 |  | 21195798 |  | 2167580 |  | 238133541 |
|  | W | 353929734 | W | 30743978 | W | 2904770 | W | 387578482 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.5 Credit risk of securities

Credit qualities of securities exposed to credit risk other than equity securities among financial investments as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Non-impaired** | **Impaired** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
|  **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 31671903 | W | W | W | W | 31671903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 3405411 |  |  |  |  | 3405411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 7175 |  |  |  |  | 7175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  |  |  |  |  |
|  |  | 35084489 |  |  |  |  | 35084489 |
|  **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 |  | 87153519 |  |  |  |  | 87153519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 6158900 |  |  |  |  | 6158900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  |  |  |  |  |
|  |  | 93312419 |  |  |  |  | 93312419 |
|  | W | 128396908 | W | W | W | W | 128396908 |
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Non-impaired** | **Impaired** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
|  **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** | **Securities measured at amortized cost \*** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 33733935 | W | W | W | W | 33733935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 3396100 |  |  |  |  | 3396100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 913 |  |  |  |  | 913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  |  |  |  |  |
|  |  | 37130948 |  |  |  |  | 37130948 |
|  **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** | **Securities measured at fair value through other comprehensive income** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 |  | 81797910 |  |  |  |  | 81797910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 6933807 |  |  |  |  | 6933807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 4279 |  |  |  |  | 4279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  |  |  |  |  |
|  |  | 88735996 |  |  |  |  | 88735996 |
|  | W | 125866944 | W | W | W | W | 125866944 |

---

\* Before netting of allowance

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.5 Credit risk of securities (cont'd)

Credit qualities of securities other than equity securities, according to the credit ratings by external credit rating agencies as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit**<br> **quality** | **Domestic** | **Domestic** | **Domestic** | **Domestic** | **Foreign** | **Foreign** | **Foreign** |
| **Credit**<br> **quality** | **KIS** | **NICE P&I** | **KAP** | **FnPricing Inc.** | **S&P** | **Fitch-IBCA** | **Moody's** |
|  Grade 1 | AA0 to AAA | AA0 to AAA | AA0 to AAA | AA0 to AAA | A- to AAA | A- to AAA | A3 to Aaa |
|  Grade 2 | A- to AA- | A- to AA- | A- to AA- | A- to AA- | BBB- to BBB+ | BBB- to BBB+ | Baa3 to Baa1 |
|  Grade 3 | BBB0 to BBB+ | BBB0 to BBB+ | BBB0 to BBB+ | BBB0 to BBB+ | BB to BB+ | BB to BB+ | Ba2 to Ba1 |
|  Grade 4 | BB0 to BBB- | BB0 to BBB- | BB0 to BBB- | BB0 to BBB- | B+ to BB- | B+ to BB- | B1 to Ba3 |
|  Grade 5 | BB- or under | BB- or under | BB- or under | BB- or under | B or under | B or under | B2 or under |

---

Credit qualities of debt securities denominated in Korean won are based on the lowest credit rating by the domestic credit rating agencies above, and those denominated in foreign currencies are based on the lowest credit rating by the foreign credit rating agencies above.

4.2.6 Credit risk of due from financial institutions

Credit qualities of due from financial institutions as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Non-impaired** | **Impaired** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
|  **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 30869922 | W | W | W | W | 30869922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 789076 |  |  |  |  | 789076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 122333 |  |  |  |  | 122333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  | 787727 |  |  |  |  | 787727 |
|  | W | 32569058 | W | W | W | W | 32569058 |
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Non-impaired** | **Impaired** | **Not applying<br>expected credit<br>losses** | **Total** | **Total** |
|  **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** | **Due from financial institutions measured at amortized cost \*** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 26483963 | W | W | W | W | 26483963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 583640 |  |  |  |  | 583640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 62223 |  |  |  |  | 62223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 18 |  |  |  |  | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  | 661849 |  |  |  |  | 661849 |
|  | W | 27791693 | W | W | W | W | 27791693 |

---

\* Before netting of allowance

The classification criteria of the credit qualities of due from financial institutions as of December 31, 2025 and 2024, are the same as the criteria for securities other than equity securities.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.7 Credit risk mitigation of derivative financial instruments

Quantification of the extent to which collateral mitigates credit risk of derivative financial instruments as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Deposits, savings, securities, and others | W | 1794595 | W | 1437204 |

---

4.2.8 Credit risk concentration analysis

4.2.8.1 Classifications of loans by country as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** |
|  | **Retail** | **Retail** | **Corporate** | **Corporate** | **Credit card** | **Credit card** | **Total** | **Total** | **%** | **Allowances** | **Allowances** | **Carrying**<br>**amount** | **Carrying**<br>**amount** |
|  Korea | W | 201645600 | W | 240962803 | W | 23103760 | W | 465712163 | 93.03 | W | (3980768) | W | 461731395 |
|  Europe |  |  |  | 5154308 |  |  |  | 5154308 | 1.03 |  | (43112) |  | 5111196 |
|  China |  | 215176 |  | 6163073 |  | 532 |  | 6378781 | 1.27 |  | (16091) |  | 6362690 |
|  Japan |  |  |  | 1401963 |  | 107 |  | 1402070 | 0.28 |  | (3668) |  | 1398402 |
|  United States |  |  |  | 4147154 |  |  |  | 4147154 | 0.83 |  | (43868) |  | 4103286 |
|  Cambodia |  | 3844218 |  | 3917299 |  | 726 |  | 7762243 | 1.55 |  | (505687) |  | 7256556 |
|  Indonesia |  | 1618552 |  | 3783985 |  | 23768 |  | 5426305 | 1.08 |  | (504272) |  | 4922033 |
|  Others |  | 1561205 |  | 3059913 |  | 6193 |  | 4627311 | 0.93 |  | (308730) |  | 4318581 |
|  | W | 208884751 | W | 268590498 | W | 23135086 | W | 500610335 | 100.00 | W | (5406196) | W | 495204139 |
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** |
|  | **Retail** | **Retail** | **Corporate** | **Corporate** | **Credit card** | **Credit card** | **Total** | **Total** | **%** | **Allowances** | **Allowances** | **Carrying**<br>**amount** | **Carrying**<br>**amount** |
|  Korea | W | 193803826 | W | 225393574 | W | 23436170 | W | 442633570 | 92.15 | W | (4119163) | W | 438514407 |
|  Europe |  |  |  | 5473894 |  |  |  | 5473894 | 1.14 |  | (61124) |  | 5412770 |
|  China |  | 181539 |  | 7095199 |  | 776 |  | 7277514 | 1.52 |  | (30204) |  | 7247310 |
|  Japan |  |  |  | 1183745 |  | 100 |  | 1183845 | 0.25 |  | (2947) |  | 1180898 |
|  United States |  |  |  | 5350298 |  |  |  | 5350298 | 1.11 |  | (116741) |  | 5233557 |
|  Cambodia |  | 3575153 |  | 4315485 |  | 1114 |  | 7891752 | 1.64 |  | (362314) |  | 7529438 |
|  Indonesia |  | 1968896 |  | 4003127 |  | 34642 |  | 6006665 | 1.25 |  | (596496) |  | 5410169 |
|  Others |  | 1293634 |  | 3222768 |  | 5672 |  | 4522074 | 0.94 |  | (344392) |  | 4177682 |
|  | W | 200823048 | W | 256038090 | W | 23478474 | W | 480339612 | 100.00 | W | (5633381) | W | 474706231 |

---

\* Amount includes loans measured at fair value through profit or loss, other comprehensive income, and amortized cost. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.8.2 Classifications of corporate loans by industry as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Loans** | **Loans** | **%** | **Allowances** | **Allowances** | **Carrying amount** | **Carrying amount** |
|  Financial institutions | W | 34869986 | 12.99 | W | (341248) | W | 34528738 |
|  Manufacturing |  | 59136193 | 22.02 |  | (549071) |  | 58587122 |
|  Service |  | 117185024 | 43.63 |  | (1098958) |  | 116086066 |
|  Wholesale and retail |  | 31816635 | 11.85 |  | (554985) |  | 31261650 |
|  Construction |  | 6399017 | 2.38 |  | (258485) |  | 6140532 |
|  Public sector |  | 2653414 | 0.98 |  | (60287) |  | 2593127 |
|  Others |  | 16530229 | 6.15 |  | (327004) |  | 16203225 |
|  | W | 268590498 | 100.00 | W | (3190038) | W | 265400460 |
| *(In millions of Korean won)* |  |  |  |  |  |  |  |
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Loans** | **Loans** | **%** | **Allowances** | **Allowances** | **Carrying amount** | **Carrying amount** |
|  Financial institutions | W | 29395390 | 11.48 | W | (258612) | W | 29136778 |
|  Manufacturing |  | 55635406 | 21.73 |  | (602712) |  | 55032694 |
|  Service |  | 113938671 | 44.50 |  | (1132799) |  | 112805872 |
|  Wholesale and retail |  | 31112210 | 12.15 |  | (552209) |  | 30560001 |
|  Construction |  | 6782310 | 2.65 |  | (279959) |  | 6502351 |
|  Public sector |  | 2460655 | 0.96 |  | (66475) |  | 2394180 |
|  Others |  | 16713448 | 6.53 |  | (276057) |  | 16437391 |
|  | W | 256038090 | 100.00 | W | (3168823) | W | 252869267 |

---

4.2.8.3 Classifications of retail loans and credit card receivables as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Loans** | **Loans** | **%** | **Allowances** | **Allowances** | **Carrying amount** | **Carrying amount** |
|  Housing loan | W | 113218721 | 48.80 | W | (352721) | W | 112866000 |
|  General loan |  | 95666030 | 41.23 |  | (1147533) |  | 94518497 |
|  Credit card |  | 23135086 | 9.97 |  | (715904) |  | 22419182 |
|  | W | 232019837 | 100.00 | W | (2216158) | W | 229803679 |
| *(In millions of Korean won)* |  |  |  |  |  |  |  |
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Loans** | **Loans** | **%** | **Allowances** | **Allowances** | **Carrying amount** | **Carrying amount** |
|  Housing loan | W | 104273035 | 46.49 | W | (283861) | W | 103989174 |
|  General loan |  | 96550013 | 43.04 |  | (1303956) |  | 95246057 |
|  Credit card |  | 23478474 | 10.47 |  | (876740) |  | 22601734 |
|  | W | 224301522 | 100.00 | W | (2464557) | W | 221836965 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.8.4 Classifications of due from financial institutions, securities other than equity securities, and derivative financial assets by industry as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Amount** | **Amount** | **%** | **Allowances** | **Allowances** | **Carrying amount** | **Carrying amount** |
|  **Due from financial institutions measured at amortized cost** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and government funded institutions | W | 548066 | 1.68 | W |  | W | 548066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 32020992 | 98.32 |  | (1350) |  | 32019642 |
|  |  | 32569058 | 100.00 |  | (1350) |  | 32567708 |
|  **Due from financial institutions measured at fair value through profit or loss** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 476717 | 100.00 |  |  |  | 476717 |
|  |  | 476717 | 100.00 |  |  |  | 476717 |
|  **Securities measured at fair value through profit or loss** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and government funded institutions |  | 27525884 | 34.17 |  |  |  | 27525884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 37931231 | 47.09 |  |  |  | 37931231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 15096233 | 18.74 |  |  |  | 15096233 |
|  |  | 80553348 | 100.00 |  |  |  | 80553348 |
|  **Derivative financial assets** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and government funded institutions |  | 54733 | 0.67 |  |  |  | 54733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 7266345 | 88.85 |  |  |  | 7266345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 856978 | 10.48 |  |  |  | 856978 |
|  |  | 8178056 | 100.00 |  |  |  | 8178056 |
|  **Securities measured at fair value through other comprehensive income** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and government funded institutions |  | 57326535 | 61.44 |  |  |  | 57326535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 24060595 | 25.78 |  |  |  | 24060595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 11925289 | 12.78 |  |  |  | 11925289 |
|  |  | 93312419 | 100.00 |  |  |  | 93312419 |
|  **Securities measured at amortized cost** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and government funded institutions |  | 14338528 | 40.87 |  | (1054) |  | 14337474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 20570329 | 58.63 |  | (15924) |  | 20554405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 175632 | 0.50 |  | (319) |  | 175313 |
|  |  | 35084489 | 100.00 |  | (17297) |  | 35067192 |
|  | W | 250174087 |  | W | (18647) | W | 250155440 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.8.4 Classifications of due from financial institutions, securities other than equity securities, and derivative financial assets by industry as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Amount** | **Amount** | **%** | **Allowances** | **Allowances** | **Carrying amount** | **Carrying amount** |
|  **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance | W | 27791693 | 100.00 | W | (1572) | W | 27790121 |
|  |  | 27791693 | 100.00 |  | (1572) |  | 27790121 |
|  **Due from financial institutions measured at fair value through profit or loss** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 59838 | 100.00 |  |  |  | 59838 |
|  |  | 59838 | 100.00 |  |  |  | 59838 |
|  **Securities measured at fair value through profit or loss** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and government funded institutions |  | 25543224 | 34.63 |  |  |  | 25543224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 35810087 | 48.54 |  |  |  | 35810087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 12415325 | 16.83 |  |  |  | 12415325 |
|  |  | 73768636 | 100.00 |  |  |  | 73768636 |
|  **Derivative financial assets** | **Derivative financial assets** | **Derivative financial assets** | **Derivative financial assets** | **Derivative financial assets** | **Derivative financial assets** | **Derivative financial assets** | **Derivative financial assets** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and government funded institutions |  | 51376 | 0.44 |  |  |  | 51376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 10398642 | 88.64 |  |  |  | 10398642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 1280749 | 10.92 |  |  |  | 1280749 |
|  |  | 11730767 | 100.00 |  |  |  | 11730767 |
|  **Securities measured at fair value through other comprehensive income** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and government funded institutions |  | 49417230 | 55.69 |  |  |  | 49417230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 27374090 | 30.85 |  |  |  | 27374090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 11944676 | 13.46 |  |  |  | 11944676 |
|  |  | 88735996 | 100.00 |  |  |  | 88735996 |
|  **Securities measured at amortized cost** | **Securities measured at amortized cost** | **Securities measured at amortized cost** | **Securities measured at amortized cost** | **Securities measured at amortized cost** | **Securities measured at amortized cost** | **Securities measured at amortized cost** | **Securities measured at amortized cost** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and government funded institutions |  | 15499014 | 41.75 |  | (787) |  | 15498227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance and insurance |  | 21411994 | 57.66 |  | (16228) |  | 21395766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 219940 | 0.59 |  | (381) |  | 219559 |
|  |  | 37130948 | 100.00 |  | (17396) |  | 37113552 |
|  | W | 239217878 |  | W | (18968) | W | 239198910 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.8.5 Classifications of due from financial institutions, securities other than equity securities, and derivative financial assets by country as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Amount** | **Amount** | **%** | **Allowances** | **Allowances** | **Carrying amount** | **Carrying amount** |
|  **Due from financial institutions measured at amortized cost** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea | W | 22609374 | 69.42 | W | (548) | W | 22608826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States |  | 3471363 | 10.66 |  |  |  | 3471363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 6488321 | 19.92 |  | (802) |  | 6487519 |
|  |  | 32569058 | 100.00 |  | (1350) |  | 32567708 |
|  **Due from financial institutions measured at fair value through profit or loss** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea |  | 64438 | 13.52 |  |  |  | 64438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 412279 | 86.48 |  |  |  | 412279 |
|  |  | 476717 | 100.00 |  |  |  | 476717 |
|  **Securities measured at fair value through profit or loss** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea |  | 70010515 | 86.91 |  |  |  | 70010515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States |  | 4926498 | 6.12 |  |  |  | 4926498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 5616335 | 6.97 |  |  |  | 5616335 |
|  |  | 80553348 | 100.00 |  |  |  | 80553348 |
|  **Derivative financial assets** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea |  | 3771700 | 46.12 |  |  |  | 3771700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States |  | 1673866 | 20.47 |  |  |  | 1673866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France |  | 554494 | 6.78 |  |  |  | 554494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore |  | 484154 | 5.92 |  |  |  | 484154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan |  | 190955 | 2.33 |  |  |  | 190955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 1502887 | 18.38 |  |  |  | 1502887 |
|  |  | 8178056 | 100.00 |  |  |  | 8178056 |
|  **Securities measured at fair value through other comprehensive income** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea |  | 85875358 | 92.03 |  |  |  | 85875358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States |  | 4292703 | 4.60 |  |  |  | 4292703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 3144358 | 3.37 |  |  |  | 3144358 |
|  |  | 93312419 | 100.00 |  |  |  | 93312419 |
|  **Securities measured at amortized cost** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea |  | 30412261 | 86.69 |  | (12295) |  | 30399966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States |  | 786213 | 2.24 |  | (755) |  | 785458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 3886015 | 11.07 |  | (4247) |  | 3881768 |
|  |  | 35084489 | 100.00 |  | (17297) |  | 35067192 |
|  | W | 250174087 |  | W | (18647) | W | 250155440 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.2.8.5 Classifications of due from financial institutions, securities other than equity securities, and derivative financial assets by country as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Amount** | **Amount** | **%** | **Allowances** | **Allowances** | **Carrying amount** | **Carrying amount** |
|  **Due from financial institutions measured at amortized cost** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea | W | 18731321 | 67.39 | W | (436) | W | 18730885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States |  | 2946827 | 10.60 |  | (91) |  | 2946736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 6113545 | 22.01 |  | (1045) |  | 6112500 |
|  |  | 27791693 | 100.00 |  | (1572) |  | 27790121 |
|  **Due from financial institutions measured at fair value through profit or loss** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea |  | 59838 | 100.00 |  |  |  | 59838 |
|  |  | 59838 | 100.00 |  |  |  | 59838 |
|  **Securities measured at fair value through profit or loss** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea |  | 65276781 | 88.48 |  |  |  | 65276781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States |  | 3817882 | 5.18 |  |  |  | 3817882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 4673973 | 6.34 |  |  |  | 4673973 |
|  |  | 73768636 | 100.00 |  |  |  | 73768636 |
|  **Derivative financial assets** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea |  | 5153264 | 43.93 |  |  |  | 5153264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States |  | 2870245 | 24.47 |  |  |  | 2870245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France |  | 1117765 | 9.53 |  |  |  | 1117765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore |  | 370823 | 3.16 |  |  |  | 370823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan |  | 377000 | 3.21 |  |  |  | 377000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 1841670 | 15.70 |  |  |  | 1841670 |
|  |  | 11730767 | 100.00 |  |  |  | 11730767 |
|  **Securities measured at fair value through other comprehensive income** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea |  | 81111331 | 91.40 |  |  |  | 81111331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States |  | 4460081 | 5.04 |  |  |  | 4460081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 3164584 | 3.56 |  |  |  | 3164584 |
|  |  | 88735996 | 100.00 |  |  |  | 88735996 |
|  **Securities measured at amortized cost** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea |  | 31798069 | 85.64 |  | (12389) |  | 31785680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States |  | 1862402 | 5.02 |  | (1191) |  | 1861211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 3470477 | 9.34 |  | (3816) |  | 3466661 |
|  |  | 37130948 | 100.00 |  | (17396) |  | 37113552 |
|  | W | 239217878 |  | W | (18968) | W | 239198910 |

---

Due from financial institutions, financial instruments at fair value through profit or loss linked to gold price, and derivative financial instruments are mostly related to the finance and insurance industry with high credit ratings.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.3 Liquidity Risk

4.3.1 Overview of liquidity risk

Liquidity risk is a risk that the Group becomes insolvent due to the mismatch between the inflow and outflow of funds, unexpected cash outflows, or a risk of loss due to financing funds at a high interest rate or disposing of securities at an unfavorable price due to lack of available funds. The Group manages its liquidity risk through analysis of the contractual maturity of interest-bearing assets and liabilities, assets and liabilities related to the other inflows and outflows of funds, and off-balance sheet items related to the inflows and outflows of funds such as currency derivative instruments and others.

4.3.2 Liquidity risk management and indicator

The liquidity risk is managed by risk management policies and liquidity risk management guidelines set forth in these policies that apply to all risk management policies and procedures that may arise throughout the overall business of the Group.

The Group calculates and manages cumulative liquidity gap, liquidity ratio and others for all transactions and off-balance transactions related to liquidity, that affect the cash flows in Korean won and foreign currency funds raised and operated for the management of liquidity risks and periodically reports them to the Risk Management Council and the Risk Management Committee.

4.3.3 Analysis of remaining contractual maturity of financial liabilities

The cash flows disclosed in the maturity analysis are undiscounted contractual amounts including principal and future interest payments; as such, amounts in the table below do not match with those in the consolidated statements of financial position which are based on discounted cash flows. The future interest payments for floating-rate liabilities are calculated on the assumption that the current interest rate is the same until maturity.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.3.3.1 Remaining contractual maturity of financial liabilities other than derivatives held for cash flow hedge, and off-balance sheet items as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **On demand** | **On demand** | **Up to 1 month** | **Up to 1 month** | **1-3 months** | **1-3 months** | **3-12 months** | **3-12 months** | **1-5 years** | **1-5 years** | **Over 5 years** | **Over 5 years** | **Total** | **Total** |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss <sup>1</sup> | W | 3339572 | W |  | W |  | W |  | W |  | W |  | W | 3339572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities designated at fair value through profit or loss <sup>1</sup> |  | 7981018 |  |  |  |  |  |  |  |  |  |  |  | 7981018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading <sup>1</sup> |  | 7687304 |  |  |  |  |  |  |  |  |  |  |  | 7687304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for hedging <sup>2</sup> |  |  |  | 10774 |  | 12157 |  | 263427 |  | 81649 |  | (58) |  | 367949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits <sup>3</sup> |  | 201772650 |  | 40440335 |  | 56336873 |  | 142245329 |  | 28884608 |  | 1203556 |  | 470883351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings |  | 11635724 |  | 20378309 |  | 7077101 |  | 21534773 |  | 10042532 |  | 1121266 |  | 71789705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 868 |  | 4812305 |  | 7215145 |  | 26911817 |  | 43479691 |  | 2313102 |  | 84732928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lease liabilities |  | 609 |  | 33862 |  | 58736 |  | 232067 |  | 619002 |  | 26140 |  | 970416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities |  | 754678 |  | 28772873 |  | 142050 |  | 486329 |  | 1127692 |  | 164919 |  | 31448541 |
|  | W | 233172423 | W | 94448458 | W | 70842062 | W | 191673742 | W | 84235174 | W | 4828925 | W | 679200784 |
|  **Off-balance sheet items** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commitments <sup>4</sup> | W | 213477156 | W |  | W |  | W |  | W |  | W |  | W | 213477156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acceptances and guarantees contracts <sup>5</sup> |  | 15503443 |  |  |  |  |  |  |  |  |  |  |  | 15503443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial guarantee contracts <sup>5</sup> |  | 7209320 |  |  |  |  |  |  |  |  |  |  |  | 7209320 |
|  | W | 236189919 | W |  | W |  | W |  | W |  | W |  | W | 236189919 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.3.3.1 Remaining contractual maturity of financial liabilities other than derivatives held for cash flow hedge, and off-balance sheet items as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **On demand** | **On demand** | **Up to 1 month** | **Up to 1 month** | **1-3 months** | **1-3 months** | **3-12 months** | **3-12 months** | **1-5 years** | **1-5 years** | **Over 5 years** | **Over 5 years** | **Total** | **Total** |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss <sup>1</sup> | W | 2717732 | W |  | W |  | W |  | W |  | W |  | W | 2717732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities designated at fair value through profit or loss <sup>1</sup> |  | 8002499 |  |  |  |  |  |  |  |  |  |  |  | 8002499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading <sup>1</sup> |  | 11409695 |  |  |  |  |  |  |  |  |  |  |  | 11409695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for hedging <sup>2</sup> |  |  |  | 7538 |  | 12221 |  | 85101 |  | 64760 |  | (3206) |  | 166414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits <sup>3</sup> |  | 181232114 |  | 41663882 |  | 57643486 |  | 137677588 |  | 24822029 |  | 1437036 |  | 444476135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings |  | 10613810 |  | 17508577 |  | 7562405 |  | 22180471 |  | 10360622 |  | 1263467 |  | 69489352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 1113 |  | 4138143 |  | 6683638 |  | 21458905 |  | 42772744 |  | 5955515 |  | 81010058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lease liabilities |  | 196 |  | 30683 |  | 56903 |  | 227390 |  | 606547 |  | 122502 |  | 1044221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities |  | 108979 |  | 22138250 |  | 147660 |  | 331842 |  | 1174845 |  | 171549 |  | 24073125 |
|  | W | 214086138 | W | 85487073 | W | 72106313 | W | 181961297 | W | 79801547 | W | 8946863 | W | 642389231 |
|  **Off-balance sheet items** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commitments <sup>4</sup> | W | 212695995 | W |  | W |  | W |  | W |  | W |  | W | 212695995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acceptances and guarantees contracts <sup>5</sup> |  | 16250243 |  |  |  |  |  |  |  |  |  |  |  | 16250243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial guarantee contracts <sup>5</sup> |  | 6674740 |  |  |  |  |  |  |  |  |  |  |  | 6674740 |
|  | W | 235620978 | W |  | W |  | W |  | W |  | W |  | W | 235620978 |

---

<sup>1</sup> Financial liabilities measured or designated at fair value through profit or loss and derivatives held for trading are not managed by contractual maturity because they are expected to be traded or redeemed before maturity. Therefore, the carrying amounts of those financial instruments are included in the 'On demand' category. 

<sup>2</sup> Cash flows of derivatives held for hedging are shown at net amount of cash inflows and outflows by remaining contractual maturity. 

<sup>3</sup> Deposits that are contractually repayable on demand or on short notice are included in the 'On demand' category.

<sup>4</sup> Unused lines of credit within commitments are included in the 'On demand' category because payments can be requested at any time.

<sup>5</sup> Cash flows under acceptances and financial guarantee contracts are classified based on the earliest period that the contract can be executed.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.3.3.2 Contractual cash flows of derivatives held for cash flow hedge as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Up to 1 month** | **Up to 1 month** | **1-3 months** | **1-3 months** | **3-12 months** | **3-12 months** | **1-5 years** | **1-5 years** | **Over 5 years** | **Total** | **Total** |
|  Cash flow to be received (paid) of net-settled derivatives | W | (26) | W | 3844 | W | 13411 | W | 16830 | W | W | 34059 |
|  Cash flow to be received of gross-settled derivatives |  | 226373 |  | 299796 |  | 1602656 |  | 3803241 |  |  | 5932066 |
|  Cash flow to be paid of gross-settled derivatives |  | (277652) |  | (406140) |  | (1770081) |  | (4313738) |  |  | (6767611) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Up to 1 month** | **Up to 1 month** | **1-3 months** | **1-3 months** | **3-12 months** | **3-12 months** | **1-5 years** | **1-5 years** | **Over 5 years** | **Total** | **Total** |
|  Cash flow to be received (paid) of net-settled derivatives | W | 1402 | W | 6654 | W | 22907 | W | 51167 | W | W | 82130 |
|  Cash flow to be received of gross-settled derivatives |  | 146467 |  | 168634 |  | 1477861 |  | 3147437 |  |  | 4940399 |
|  Cash flow to be paid of gross-settled derivatives |  | (192685) |  | (272362) |  | (1616687) |  | (3663434) |  |  | (5745168) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.4 Market Risk

4.4.1 Concept

Market risk refers to risks that can result in losses due to changes in market factors such as interest rate, stock price, and foreign exchange rate, etc., which arise from securities, derivatives, and others. The most significant risks associated with trading positions are interest rate risk, currency risk, and additional risks include stock price risk. The non-trading position is also exposed to interest rate risk. The Group manages the market risks by dividing them into those arising from the trading position and those arising from the non-trading position.

4.4.2 Risk management

The Group sets and monitors internal capital limits for market risk and interest rate risk to manage the risks of trading and non-trading positions. In order to manage market risk efficiently, the Group maintains risk management systems and procedures such as trading policies and procedures, market risk management guidelines for trading positions, and interest rate risk management guidelines for non-trading positions. The entire process is carried out through consultation with the Risk Management Council and approval by the Risk Management Committee of the Group. However, insurance companies that are engaged in the insurance business are not subject to these guidelines and are monitored by setting internal capital limits for market risk and interest rate risk based on K-ICS.

In the case of Kookmin Bank, a major subsidiary, the Risk Management Council establishes and enforces overall market risk management policies for market risk management and decides to establish position limits, loss limits, VaR limits, and approves non-standard new products. In addition, the Market Risk Management Subcommittee, chaired by Chief Risk Officer ("CRO"), is a practical decision-making body for market risk management and determines position limits, loss limits, VaR limits, sensitivity limits, and scenario loss limits for each department of the business group.

Kookmin Bank's Asset-Liability Management Committee ("ALCO") determines interest rate and commission operating standards and Asset Liability Management ("ALM") operation policies and enacts and revises relevant guidelines. The Risk Management Committee and the Risk Management Council monitor the establishment and enforcement of ALM risk management policies and enact and revise ALM risk management guidelines. Interest rate risk limits are set based on future asset and liability positions and expected interest rate volatility, which reflect annual business plans. The Financial Planning Department and the Risk Management Department regularly measure and monitor interest rate risk and report the status and limit of interest rate risk including changes in Economic Value of Equity ("ΔEVE"), changes in Net Interest Income ("ΔNII"), and duration gap to the ALCO and the Risk Management Council on a monthly basis, and to the Risk Management Committee on a quarterly basis. To ensure the adequacy of interest rate risk and liquidity risk management, the Risk Management Department assigns the limits, monitors and reviews the procedures and tasks of ALM operations conducted by the ALM department, and reports related matters to the management independently.

Kookmin Bank is closely monitoring the outputs of various industry groups and markets that manage the transition to the new interest rate benchmark, including announcements by LIBOR regulation authority and various consultative bodies related to the transition to alternative interest rate. In response to these announcements, Kookmin Bank has completed most of the transition and replacement plans according to LIBOR transition programs and plans consisting of major business areas such as finance, accounting, tax, legal, IT, and risk. The program is under the control of the CFO and related matters are reported to the board of directors and consultative bodies with senior management as members. Kookmin Bank continues its efforts as a market participant to actively express opinions so that the index interest rate benchmark reform can be carried out in the direction of minimizing the financial and non-financial impacts and operational risks and minimizing confusion among stakeholders.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.4.3 Trading position

4.4.3.1 Definition of a trading position

The trading position, which is subject to market risk management, is the trading position defined in "Trading Policy and Guidelines" and the basic requirements for the trading position are as follows:

The target position should be made daily fair value assessment and should have no legal constrictions on sale and hedging.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The target position has no restrictions on the sale, and the daily fair value assessment should be made, and the
embedded significant risk can be hedged in the market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The trading position classification criteria should be clearly defined in the Trading Policy and Guidelines, and
the trading position should be managed by a separate trading department.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The target position must be operated according to the documented trading strategy and the management of position
limit must be carried out.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The specialized dealer or operating department shall have the authority to execute the transaction without prior
approval from the Risk Management Department, etc. within the predetermined limits of the target position.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The target positions should be periodically reported to management for risk management of the Group.

4.4.3.2 Observation method of market risk arising from trading positions

From January 2023, Subsidiaries of the Group use the Basel III standardized approach to measure market risk and manage it at the portfolio level(Prior to January 2023, Basel II standardized approach or Basel II internal models such as VaR). In addition, the Group controls and manages the risk of derivative financial instrument transactions in accordance with the Financial Supervisory Service regulations and enforcement rules.

4.4.3.3 Basel III standardized approach

Market risk regulatory capital is calculated as the sum of (a) sensitivities-based risk, (b) default risk, and (c) residual risk according to the Basel III standardized approach introduced in January 2023.

(a) Sensitivities-based risk, which is the basis of the Basel III standardized approach for market risk, calculates the expected loss for each risk factor by applying the risk weights and correlation parameter specified by the Basel Committee and summing them.

(b) Default risk is the risk from default of issuer of securities and derivatives and is calculated by applying risk weights based on the issuer's credit rating.

(c) Residual risk is the risk imposed on atypical underlying instruments and is calculated by applying a certain percentage specified by the Basel Committee to the par value.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.4.3.3 Basel III standardized approach (cont'd)

(Basel III standardized approach definitions by risk type)

---

| | | | |
|:---|:---|:---|:---|
| Sensitivities-based risk | Interest rate risk group | GIRR | The risk associated with risk-free interest rates (typically OIS rates) defined by currency and maturity. |
| Sensitivities-based risk | Interest rate risk group | CSR | The risk associated with the issuer's interest rate credit spread, defined by creditworthiness and sector. |
| Sensitivities-based risk | Equity risk group | Equity risk group | The risk factors associated with equity, defined by market capitalization, economic conditions, and sector |
| Sensitivities-based risk | Foreign exchange risk group | Foreign exchange risk group | The risk factors associated with exchange rate, defined by currency pairs |
| Sensitivities-based risk | Commodity risk group | Commodity risk group | The risk factors associated with commodities, defined by commodity types. |
| Default risk |  |  | Issuer default risk in securities (bonds, etc.) and derivatives. |
| Residual risk |  |  | Additional risks imposed on non-standard underlying asset products, etc. |

---

Required equity capital of subsidiaries according to Basel III standardized approach as of December 31, 2025 and 2024, are as follows:

**Kookmin Bank** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Default risk** | **Residual risk** | **Residual risk** | **Dec. 31, 2025** | **Dec. 31, 2025** |
|  | W | 427455 | W | 63128 | W | 1243 | W | 491826 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Default risk** | **Residual risk** | **Residual risk** | **Dec. 31, 2024** | **Dec. 31, 2024** |
|  | W | 417756 | W | 52293 | W | 1070 | W | 471119 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.4.3.3 Basel III standardized approach (cont'd)

**KB Securities Co., Ltd.** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Default risk** | **Residual risk** | **Residual risk** | **Dec. 31, 2025** | **Dec. 31, 2025** |
|  | W | 779454 | W | 354958 | W | 8149 | W | 1142561 |
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Default risk** | **Residual risk** | **Residual risk** | **Dec. 31, 2024** | **Dec. 31, 2024** |
|  | W | 612879 | W | 282755 | W | 8303 | W | 903937 |

---

**KB Kookmin Card Co., Ltd.** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Residual risk** | **Residual risk** | **Dec. 31, 2025** | **Dec. 31, 2025** |
|  | W | 37487 | W | W | —  | W | 37487 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Residual risk** | **Dec. 31, 2024** | **Dec. 31, 2024** |
|  | W | 40,454 | W | W | W | 40454 |

---

**KB Asset Management Co., Ltd.** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Default risk** | **Residual risk** | **Dec. 31, 2025** | **Dec. 31, 2025** |
|  | W | 25461 | W | 2447 | W | W | 27908 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Default risk** | **Residual risk** | **Residual risk** | **Dec. 31, 2024** | **Dec. 31, 2024** |
|  | W | 6460 | W | 747 | W | —  | W | 7207 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.4.3.3 Basel III standardized approach (cont'd)

**KB Capital Co., Ltd.** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Residual risk** | **Dec. 31, 2025** | **Dec. 31, 2025** |
|  | W | 13486 | W | W | W | 13486 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Residual risk** | **Dec. 31, 2024** | **Dec. 31, 2024** |
|  | W | 13052 | W | W | W | 13052 |

---

**KB Investment Co., Ltd.** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Default risk** | **Residual risk** | **Residual risk** | **Dec. 31, 2024** | **Dec. 31, 2024** |
|  | W | 97962 | W | 10478 | W | 5 | W | 108445 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Default risk** | **Residual risk** | **Residual risk** | **Dec. 31, 2024** | **Dec. 31, 2024** |
|  | W | 61802 | W | 5597 | W | 1 | W | 67400 |

---

**KB Data System Co., Ltd.** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Residual risk** | **Dec. 31, 2025** | **Dec. 31, 2025** |
|  | W | 369 | W | W | W | 369 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Sensitivity-<br>based risk** | **Sensitivity-<br>based risk** | **Default risk** | **Residual risk** | **Dec. 31, 2024** | **Dec. 31, 2024** |
|  | W | 427 | W | W | W | 427 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.4.3.4 Details of risk factors

(a) Interest rate risk

Interest rate risk for trading positions usually arises from debt securities. The Group's trading strategy is to gain short-term trading gains from interest rate fluctuations. The Group manages interest rate risk associated with trading portfolios using sensitivity analysis (Price Value of a Basis Point: PVBP).

(b) Stock price risk

Stock price risk usually arises from the portfolio of trading stocks. The portfolio of trading stocks consists of stocks listed on the exchange and derivatives linked to stocks, collective investment securities and others.

(c) Currency risk

Currency risk arises from holding assets and liabilities which are denominated in foreign currency, and currency-related derivatives. Most of the net foreign currency exposures occur in the US dollars, the Chinese Yuan and the Indonesian Rupiah.

4.4.4 Non-trading position (Interest Rate Risk of Banking Book ("IRRBB"))

4.4.4.1 Qualitative disclosure

(a) Definition of interest rate risk for risk management and measurement purposes

Interest rate risk is a change in equity and earnings due to the changes in value of interest-sensitive assets and liabilities, etc., and is measured by ΔEVE and ΔNII.

(b) Overall interest rate risk management and mitigation strategy

The interest rate risk management department establishes and sets interest rate risk management policies and limit once a year by a resolution of the Risk Management Council considering the mid to long-term management strategy and macroeconomic status. The interest rate risk management department analyzes interest rate risk crisis situations assuming abnormal interest rate fluctuations and reports the results to the Risk Management Council and observes changes in interest rate risk and compliance with risk limits to devise timely countermeasures and reports the management status regularly and frequently to the Risk Management Council. The interest rate risk model adequacy test is carried out regularly at least once a year by the verification department independent of the management department.

(c) Specific methodologies used to calculate interest rate risk measurement cycles and sensitivity

In order to measure the sensitivity of the economic value and earnings to changes in interest rates, the Group calculates monthly interest rate gap and duration gap for assets and liabilities.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.4.4.1 Qualitative disclosure (cont'd)

(d) Interest rate shock and stress scenarios used to estimate changes in the economic value and in earnings

The Group calculates ΔEVE by applying following six interest rate shock and stress scenarios, and ΔNII by applying parallel shock up and parallel shock down scenarios.

• Scenario 1: Parallel shock up

• Scenario 2: Parallel shock down

• Scenario 3: Steepener shock (short rates down and long rates up)

• Scenario 4: Flattener shock (short rates up and long rates down)

• Scenario 5: Short rates shock up

• Scenario 6: Short rates shock down

(e) Key modeling assumptions used to measure interest rate risk for internal management purposes

The Group measures unfavorable changes in economic value resulting from changes in interest rates, following the interest rate risk calculation standards set by the Financial Supervisory Service.

(f) Interest rate risk hedging methodology and related accounting

Subsidiaries which are subject to interest rate risk measurement hedges interest rate risk through back-to-back interest rate swap transactions, which are the same as interest payment cash flows and officially document and manage the risk management strategy for hedge accounting, risk management objectives, hedging relationship, and assessment method for hedge effectiveness.

(g) Key modeling and parametric assumptions used in calculating ΔEVE and ΔNII

Subsidiaries which are subject to interest rate risk measurement calculate interest rate risk, including all cash flow of interest-sensitive assets and liabilities, and off-balance sheet items. The main assumptions of the IRRBB standard method for calculating ΔEVE, ΔNII are as follows:

(Classification of time buckets of cash flows (19 buckets in total))

---

| | |
|:---|:---|
|  | **Time bucket intervals (D: Day, M: Months, Y: Years, t<sup>cf</sup>: Repricing date)** |
|  Short-term rates | 1D<br> (0.0028Y)<br> 1D< t<sup>cf</sup><br> ≤1M<br> (0.0417Y)<br> 1M< t<sup>cf</sup><br> ≤3M<br> (0.1667Y)<br> 3M< t<sup>cf</sup><br> ≤6M<br> (0.375Y)<br> 6M< t<sup>cf</sup><br> ≤9M<br> (0.625Y)<br> 9M< t<sup>cf</sup><br> ≤1Y<br> (0.875Y)<br> 1Y< t<sup>cf</sup><br> ≤1.5Y<br> (1.25Y)<br> 1.5Y< t<sup>cf</sup><br> ≤2Y<br> (1.75Y) |
|  Medium-term rates | 2Y< t<sup>cf</sup><br> ≤3Y<br> (2.5Y)<br> 3Y< t<sup>cf</sup><br> ≤4Y<br> (3.5Y)<br> 4Y< t<sup>cf</sup><br> ≤5Y<br> (4.5Y)<br> 5Y< t<sup>cf</sup><br> ≤6Y<br> (5.5Y)<br> 6Y< t<sup>cf</sup><br> ≤7Y<br> (6.5Y) |
|  Long-term rates | 7Y< t<sup>cf</sup><br> ≤8Y<br> (7.5Y)<br> 8Y< t<sup>cf</sup><br> ≤9Y<br> (8.5Y)<br> 9Y< t<sup>cf</sup><br> ≤10Y<br> (9.5Y)<br> 10Y< t<sup>cf</sup><br> ≤15Y<br> (12.5Y)<br> 15Y< t<sup>cf</sup><br> ≤20Y<br> (17.5Y)<br> t<sup>cf</sup> >20Y<br> (25Y) |

---

\* The number in brackets is the time bucket's midpoint.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.4.4.2 Quantitative disclosure (cont'd)

(Caps on core deposit and average maturity by category for non-maturity deposits)

---

| | | |
|:---|:---|:---|
|  | **Cap on proportion of**<br>**core deposits (%)** | **Cap on average maturity of**<br>**core deposits (years)** |
|  Retail/transactional | 90 | 5 |
|  Retail/non-transactional | 70 | 4.5 |
|  Wholesale | 50 | 4 |

---

4.4.4.2 Quantitative disclosure

The average repricing maturity of non-maturity deposits is 2.5 years for core deposits, 1 day for non-core deposits, and the longest repricing maturity is five years.

(a) Kookmin Bank

ΔEVE is calculated by applying six interest rate shock and stress scenarios, and ΔNII is calculated by applying parallel shock up and parallel shock down scenarios. Results as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **changes in<br>the<br>economic<br>value of<br>equity<br>capital**<br>Δ**EVE** | **changes in<br>the<br>economic<br>value of<br>equity<br>capital**<br>Δ**EVE** | **Changes in<br>net interest<br>income**<br>Δ**NII** | **changes in<br>the<br>economic<br>value of<br>equity<br>capital**<br>Δ**EVE** | **changes in<br>the<br>economic<br>value of<br>equity<br>capital**<br>Δ**EVE** | **Changes in<br>net interest<br>income**<br>Δ**NII** |
|  Scenario 1 (Parallel shock up) | W | 990410 | 232080 | W | 830102 | 205111 |
|  Scenario 2 (Parallel shock down) |  |  | 99869 |  |  |  |
|  Scenario 3 (Short rates down, long rates up) |  | 664573 |  |  | 398065 |  |
|  Scenario 4 (Short rates up, long rates down) |  | 327654 |  |  | 447275 |  |
|  Scenario 5 (Short rates shock up) |  | 598002 |  |  | 540388 |  |
|  Scenario 6 (Short rates shock down) |  | 226291 |  |  | 132113 |  |
|  Maximum out of six scenarios |  | 990410 | 232080 |  | 830102 | 205111 |
|  Basic capital |  | 36960176 | 36960176 |  | 35059009 | 35059009 |

---

(b) Non-bank subsidiaries

ΔEVE is maximum out of six interest rate shock and stress scenarios, and ΔNII is maximum of parallel shock up and parallel shock down scenarios. Results as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | Δ**EVE** | Δ**EVE** | Δ**NII** | Δ**NII** | Δ**EVE** | Δ**EVE** | Δ**NII** | Δ**NII** |
|  KB Securities Co., Ltd. | W | 70256 | W | 391318 | W | 88676 | W | 387027 |
|  KB Kookmin Card Co., Ltd. |  | 274031 |  | 272629 |  | 147683 |  | 216520 |
|  KB Capital Co., Ltd. |  | 159822 |  | 21066 |  | 172611 |  | 64840 |
|  KB Savings Bank Co., Ltd. |  | 5822 |  | 99 |  | 15125 |  | 568 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.4.5 Financial assets and liabilities denominated in foreign currencies

Details of financial instruments denominated in foreign currencies and translated into Korean won as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **USD** | **USD** | **JPY** | **JPY** | **EUR** | **EUR** | **GBP** | **GBP** | **CNY** | **CNY** | **Others** | **Others** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions | W | 10254448 | W | 712594 | W | 415862 | W | 41663 | W | 838694 | W | 1356433 | W | 13619694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss |  | 10388505 |  | 38112 |  | 1201278 |  | 200651 |  | 3008 |  | 600243 |  | 12431797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading |  | 141239 |  | 118786 |  | 7950 |  | 22 |  | 1953 |  | 1738 |  | 271688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for hedging |  | 297856 |  |  |  | 448 |  |  |  |  |  | 262 |  | 298566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  | 31500916 |  | 963163 |  | 3787949 |  | 1131699 |  | 2065070 |  | 8180274 |  | 47629071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income |  | 8394559 |  |  |  | 327070 |  | 44045 |  | 792810 |  | 1214624 |  | 10773108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at amortized cost |  | 2587440 |  |  |  | 48898 |  | 223892 |  | 166666 |  | 2058931 |  | 5085827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets |  | 3977269 |  | 238243 |  | 151066 |  | 46328 |  | 81261 |  | 520470 |  | 5014637 |
|  | W | 67542232 | W | 2070898 | W | 5940521 | W | 1688300 | W | 3949462 | W | 13932975 | W | 95124388 |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss | W | 1285152 | W |  | W |  | W |  | W |  | W | 24274 | W | 1309426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading |  | 666912 |  | 60816 |  | 53484 |  | 22 |  | 48 |  | 3710 |  | 784992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for hedging |  | 98639 |  |  |  | 5225 |  | 202 |  |  |  | 18186 |  | 122252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits |  | 30952175 |  | 1651890 |  | 2034883 |  | 786465 |  | 3059147 |  | 5757021 |  | 44241581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings |  | 15145672 |  | 114964 |  | 1135089 |  | 260739 |  | 772626 |  | 3369771 |  | 20798861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 9024519 |  |  |  | 4716769 |  | 96619 |  |  |  | 756655 |  | 14594562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities |  | 4610825 |  | 173320 |  | 270574 |  | 45494 |  | 73907 |  | 882401 |  | 6056521 |
|  | W | 61783894 | W | 2000990 | W | 8216024 | W | 1189541 | W | 3905728 | W | 10812018 | W | 87908195 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.4.5 Financial assets and liabilities denominated in foreign currencies (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **USD** | **USD** | **JPY** | **JPY** | **EUR** | **EUR** | **GBP** | **GBP** | **CNY** | **CNY** | **Others** | **Others** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions | W | 9171037 | W | 739998 | W | 328861 | W | 61561 | W | 566160 | W | 1308772 | W | 12176389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss |  | 8481069 |  | 3104 |  | 945556 |  | 152459 |  | 404 |  | 447628 |  | 10030220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading |  | 288228 |  | 8111 |  | 10297 |  | 616 |  | 13604 |  | 3450 |  | 324306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for hedging |  | 457414 |  |  |  |  |  | 2 |  |  |  | 102 |  | 457518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  | 31598425 |  | 877024 |  | 3474346 |  | 1069013 |  | 2114302 |  | 8274576 |  | 47407686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income |  | 7789037 |  |  |  | 278806 |  | 50415 |  | 549307 |  | 1570697 |  | 10238262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at amortized cost |  | 3544607 |  |  |  | 44358 |  | 227140 |  | 200747 |  | 1806530 |  | 5823382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets |  | 3621636 |  | 38182 |  | 97946 |  | 44483 |  | 57331 |  | 310716 |  | 4170294 |
|  | W | 64951453 | W | 1666419 | W | 5180170 | W | 1605689 | W | 3501855 | W | 13722471 | W | 90628057 |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss | W | 1024957 | W |  | W |  | W |  | W |  | W | 21841 | W | 1046798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading |  | 724036 |  | 48351 |  | 76968 |  | 214 |  | 3002 |  | 8932 |  | 861503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for hedging |  | 161114 |  |  |  | 2264 |  | 1144 |  |  |  | 11119 |  | 175641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits |  | 30041679 |  | 1658775 |  | 1645279 |  | 1058101 |  | 2519261 |  | 5036555 |  | 41959650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings |  | 16231860 |  | 452189 |  | 1492914 |  | 229757 |  | 372293 |  | 3495867 |  | 22274880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 9785607 |  |  |  | 3902818 |  |  |  |  |  | 656664 |  | 14345089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities |  | 4567800 |  | 129853 |  | 115012 |  | 26017 |  | 88768 |  | 113785 |  | 5041235 |
|  | W | 62537053 | W | 2289168 | W | 7235255 | W | 1315233 | W | 2983324 | W | 9344763 | W | 85704796 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.5 Operational Risk

4.5.1 Concept

Operational risk of the Group refers to the risk of loss that may occur due to improper or incorrect internal procedures, personnel, systems or external events. Operational risk management plays a role in enhancing the stability and soundness of financial institutions by managing the appropriate level of capital and supplementing the internal control system.

4.5.2 Risk management

The purpose of operational risk management is not only to comply with supervisory and regulatory requirements, but also to spread risk management culture, strengthen internal control, improve processes, and provide timely feedback to management and all employees. The Parent Company manages the Group's overall operational risk, and each subsidiary establishes and implements operational risk management policies according to its own risk level and implements and operates related systems. The Group Risk Management Committee establishes and allocates risk capital of operational risk for each subsidiary, and subsidiaries manage operational risks at an appropriate level within the allocated risk capital.

4.6 Capital Management

The Group complies with the capital adequacy standard established by the financial supervisory authority. This capital adequacy standard is based on Basel III revised by Basel Committee on Banking Supervision in Bank for International Settlements ("BIS") in June 2011 and was implemented in Korea in December 2013. According to this standard, the Group is required to maintain a minimum capital adequacy ratio to risk-weighted assets (Common Equity Tier 1 Capital ratio of 9.0%, Tier 1 Capital ratio of 10.5%, and Total Capital ratio of 12.5%) as of December 31, 2025.

The Group's capital is classified into three categories in accordance with the Detailed Regulations on Supervision of Financial Holding Companies as follows:

• Common Equity Tier 1 Capital: Common equity Tier 1 Capital is the first to take losses of the Group and is the
last to be compensated in liquidation of the Group and not repaid except for liquidation. It includes capital, capital surplus, retained earnings, non-controlling interests of the consolidated subsidiaries,
accumulated other comprehensive income, and other capital surplus, etc.

• Additional Tier 1 Capital: Additional Tier 1 Capital includes capital, capital surplus, etc. related to the
issuance of capital securities of a permanent nature that meets the conditional capital securities requirements.

• Tier 2 Capital: Tier 2 Capital means capital that can compensate for losses of the Group upon liquidation,
including (a) the amount of subordinated bonds with maturity of not less than 5 years that meet the conditional capital securities requirements, and (b) the allowances for credit losses accumulated on the loans which are classified as
normal or precautionary in accordance with Regulations on Supervision of Financial Holding Companies, and others.

The risk-weighted assets are the magnitude of the amount of risk inherent in the total asset held by the Group. The Group calculates risk-weighted assets by each risk (credit risk, market risk, and operational risk) based on the Detailed Regulations on Supervision of Financial Holding Companies and uses them to calculate capital adequacy ratio.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

4.6 Capital Management (cont'd)

The Group evaluates and manages capital adequacy through separate internal policies. The evaluation of capital adequacy compares the size of available capital (the actual amount of available capital) to the size of internal capital (the amount of capital required to cover all the significant risks faced by the Group under its target credit rating), which monitors financial soundness and provides a risk-adjusted performance measurement basis.

Internal capital refers to the capital required to prevent the insolvency from future unexpected losses. The Group operates a system to measure, allocate, and manage internal capital to major subsidiaries by risk type.

The Risk Management Committee of the Group determines the risk appetite of the Group, allocates internal capital by risk type and major subsidiaries, and major subsidiaries operate capital efficiently within the range of the allocated internal capital. The Risk Management Department of the Group monitors internal capital limit management and reports it to management and the Risk Management Committee. If the limit of internal capital is expected to be exceeded due to new businesses or business expansion, the Group's capital adequacy management is carried out through review and approval by the Risk Management Committee in advance.

Details of the Group's capital adequacy ratio in accordance with Basel III requirements as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Total Capital: | W | 57823874 | W | 56849484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tier 1 Capital |  | 54292141 |  | 52477447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Equity Tier 1 Capital |  | 49353374 |  | 46794302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Additional Tier 1 Capital |  | 4938767 |  | 5683146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tier 2 Capital |  | 3531733 |  | 4372037 |
|  Risk-Weighted Assets: |  | 356995709 |  | 345980580 |
|  Total Capital ratio (%): |  | 16.20 |  | 16.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tier 1 Capital ratio (%) |  | 15.21 |  | 15.17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Equity Tier 1 Capital ratio (%) |  | 13.82 |  | 13.53 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**5. Segment Information** 

5.1 Overall Segment Information and Business Segments

The Group classifies reporting segments based on the nature of the products and services provided, the type of customer, and the Group's management organization.

---

| | | |
|:---|:---|:---|
|  **Banking business** | **Corporate banking** | Loans, deposit products, and other related financial services to large, small and medium-sized enterprises and SOHOs<br>|
|  **Banking business** | **Retail banking** | Loans, deposit products, and other related financial services to individuals and households<br>|
|  **Banking business** | **Other banking services** | Trading activities in securities and derivatives, funding, and other supporting activities |
|  **Securities business** | **Securities business** | Investment banking, brokerage services, and other supporting activities |
|  **Non-life insurance business** | **Non-life insurance business** | Non-life insurance and other supporting activities |
|  **Credit card business** | **Credit card business** | Credit sale, cash advance, card loan, and other supporting activities |
|  **Life insurance business** | **Life insurance business** | Life insurance and other supporting activities |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

5.1 Overall Segment Information and Business Segments (cont'd)

Financial information by business segment as of and for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Securities** | **Securities** | **Non-life<br>insurance** | **Non-life<br>insurance** | **Credit card** | **Credit card** | **Life<br>insurance** | **Life<br>insurance** | **Others** | **Others** | **Consolidation<br>adjustments** | **Consolidation<br>adjustments** | **Total** | **Total** |
|  | **Corporate<br>banking** | **Corporate<br>banking** | **Retail banking** | **Retail banking** | **Other banking<br>services** | **Other banking<br>services** | **Sub-total** | **Sub-total** | **Securities** | **Securities** | **Non-life<br>insurance** | **Non-life<br>insurance** | **Credit card** | **Credit card** | **Life<br>insurance** | **Life<br>insurance** | **Others** | **Others** | **Consolidation<br>adjustments** | **Consolidation<br>adjustments** | **Total** | **Total** |
|  Net operating<br>revenues (expenses)<br>from external<br>customers | W | 4689401 | W | 3972906 | W | 2394979 | W | 11057286 | W | 2201966 | W | 1244693 | W | 1910627 | W | 342687 | W | 1187903 | W |  | W | 17945162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intersegment net<br> operating revenues (expenses) |  | 147541 |  |  |  | 198221 |  | 345762 |  | (133348) |  | 74857 |  | (100308) |  | 43025 |  | 466350 |  | (696338) |  |  |
|  | W | 4836942 | W | 3972906 | W | 2593200 | W | 11403048 | W | 2068618 | W | 1319550 | W | 1810319 | W | 385712 | W | 1654253 | W | (696338) | W | 17945162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net interest income (expenses) | W | 5840658 | W | 3626216 | W | 1190928 | W | 10657802 | W | 631520 | W | (12343) | W | 1593320 | W | (102702) | W | 522688 | W | (217192) | W | 13073093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income |  | 11132170 |  | 7506269 |  | 3223908 |  | 21862347 |  | 1764146 |  | 1008620 |  | 2374134 |  | 698192 |  | 1537094 |  | (88433) |  | 29156100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense |  | (5291512) |  | (3880053) |  | (2032980) |  | (11204545) |  | (1132626) |  | (1020963) |  | (780814) |  | (800894) |  | (1014406) |  | (128759) |  | (16083007) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net fee and commission income (expenses) |  | 457324 |  | 332628 |  | 413567 |  | 1203519 |  | 951059 |  | (37244) |  | 708524 |  | 15040 |  | 1302355 |  | (44966) |  | 4098287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fee and commission income |  | 654184 |  | 478964 |  | 510392 |  | 1643540 |  | 1228568 |  | 7843 |  | 1751097 |  | 24440 |  | 1455201 |  | (337168) |  | 5773521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fee and commission expense |  | (196860) |  | (146336) |  | (96825) |  | (440021) |  | (277509) |  | (45087) |  | (1042573) |  | (9400) |  | (152846) |  | 292202 |  | (1675234) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net insurance income(expenses) |  |  |  |  |  |  |  |  |  |  |  | 766635 |  | 6771 |  | 464304 |  |  |  | 65663 |  | 1303373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance income |  |  |  |  |  |  |  |  |  |  |  | 11388443 |  | 13590 |  | 1019925 |  |  |  | (45412) |  | 12376546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance expense |  |  |  |  |  |  |  |  |  |  |  | (10621808) |  | (6819) |  | (555621) |  |  |  | 111075 |  | (11073173) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net gains (losses) on financial instruments at fair value through profit or loss |  | (1448) |  |  |  | 933790 |  | 932342 |  | 427374 |  | 514300 |  | 10687 |  | 1172272 |  | 594226 |  | (270996) |  | 3380205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net other insurance finance expense |  |  |  |  |  |  |  |  |  |  |  | 46283 |  |  |  | (1073004) |  |  |  |  |  | (1026721) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net other operating income (expenses) |  | (1459592) |  | 14062 |  | 54915 |  | (1390615) |  | 58665 |  | 41919 |  | (508983) |  | (90198) |  | (765016) |  | (228847) |  | (2883075) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

5.1 Overall Segment Information and Business Segments (cont'd)

---

| | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Securities** | **Securities** | **Non-life<br>insurance** | **Non-life<br>insurance** | **Credit card** | **Credit card** | **Life**<br>**insurance** | **Life**<br>**insurance** | **Others** | **Others** | **Consolidation<br>adjustments** | **Consolidation<br>adjustments** | **Total** | **Total** |
|  | **Corporate<br>banking** | **Corporate<br>banking** | **Retail banking** | **Retail banking** | **Other banking<br>services** | **Other banking<br>services** | **Sub-total** | **Sub-total** | **Securities** | **Securities** | **Non-life<br>insurance** | **Non-life<br>insurance** | **Credit card** | **Credit card** | **Life**<br>**insurance** | **Life**<br>**insurance** | **Others** | **Others** | **Consolidation<br>adjustments** | **Consolidation<br>adjustments** | **Total** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; General and administrative expenses | W | (1941244) | W | (1860412) | W | (847660) | W | (4649316) | W | (1070482) | W | (161447) | W | (606306) | W | (170723) | W | (535421) | W | 129122 | W | (7064573) |
| &nbsp;&nbsp;&nbsp;&nbsp; Operating income (expenses) before provision for credit losses |  | 2895698 |  | 2112494 |  | 1745540 |  | 6753732 |  | 998136 |  | 1158103 |  | 1204013 |  | 214989 |  | 1118832 |  | (567216) |  | 10880589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reversal (provision) of credit losses |  | (820198) |  | (201844) |  | (10914) |  | (1032956) |  | (94018) |  | (18512) |  | (765040) |  | (1423) |  | (452201) |  | 1272 |  | (2362878) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net operating income (expenses) |  | 2075500 |  | 1910650 |  | 1734626 |  | 5720776 |  | 904118 |  | 1139591 |  | 438973 |  | 213566 |  | 666631 |  | (565944) |  | 8517711 |
| &nbsp;&nbsp;&nbsp;&nbsp; Share of profit(loss) of associates and joint ventures |  |  |  |  |  | 75804 |  | 75804 |  | (8489) |  | 3981 |  | 1205 |  | (146) |  | 12155 |  | (57658) |  | 26852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net other non-operating income (expenses) |  | (7121) |  |  |  | (474240) |  | (481361) |  | 3835 |  | (1729) |  | (8207) |  | 13592 |  | 149134 |  | (36681) |  | (361417) |
| &nbsp;&nbsp;&nbsp;&nbsp; Segment profit (loss) before income tax expense |  | 2068379 |  | 1910650 |  | 1336190 |  | 5315219 |  | 899464 |  | 1141843 |  | 431971 |  | 227012 |  | 827920 |  | (660283) |  | 8183146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Income tax benefit (expense) |  | (528075) |  | (465397) |  | (496928) |  | (1490400) |  | (222958) |  | (363176) |  | (102993) |  | (87683) |  | (106754) |  | 31533 |  | (2342431) |
| &nbsp;&nbsp;&nbsp;&nbsp; Profit (loss) for the year | W | 1540304 | W | 1445253 | W | 839262 | W | 3824819 | W | 676506 | W | 778667 | W | 328978 | W | 139329 | W | 721166 | W | (628750) | W | 5840715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Profit (loss) attributable to shareholders<br>of the Parent Company | W | 1533813 | W | 1445253 | W | 873100 | W | 3852166 | W | 673856 | W | 778228 | W | 330226 | W | 139329 | W | 719526 | W | (660169) | W | 5833162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Profit (loss) attributable to non-controlling interests |  | 6491 |  |  |  | (33838) |  | (27347) |  | 2650 |  | 439 |  | (1248) |  |  |  | 1640 |  | 31419 |  | 7553 |
|  Total assets \* |  | 244324619 |  | 182734005 |  | 157876343 |  | 584934967 |  | 76461426 |  | 45377597 |  | 30235710 |  | 35585902 |  | 66608064 |  | (41280633) |  | 797923033 |
|  Total liabilities \* |  | 227897241 |  | 217055771 |  | 101026314 |  | 545979326 |  | 69572471 |  | 39725458 |  | 24597933 |  | 32795927 |  | 28844053 |  | (4422124) |  | 737093044 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

5.1 Overall Segment Information and Business Segments (cont'd)

---

| | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Securities** | **Securities** | **Non-life<br>insurance** | **Non-life<br>insurance** | **Credit card** | **Credit card** | **Life<br>insurance** | **Life<br>insurance** | **Others** | **Others** | **Consolidation<br>adjustments** | **Consolidation<br>adjustments** | **Total** | **Total** |
|  | **Corporate<br>banking** | **Corporate<br>banking** | **Retail banking** | **Retail banking** | **Other banking<br>services** | **Other banking<br>services** | **Sub-total** | **Sub-total** | **Securities** | **Securities** | **Non-life<br>insurance** | **Non-life<br>insurance** | **Credit card** | **Credit card** | **Life<br>insurance** | **Life<br>insurance** | **Others** | **Others** | **Consolidation<br>adjustments** | **Consolidation<br>adjustments** | **Total** | **Total** |
|  Net operating<br>revenues (expenses)<br>from external<br>customers | W | 5281537 | W | 4165446 | W | 637177 | W | 10084160 | W | 1772379 | W | 1447658 | W | 2107801 | W | 366433 | W | 1249740 | W |  | W | 17028171 |
|  Intersegment net operating<br>revenues (expenses) |  | 91339 |  |  |  | 537771 |  | 629110 |  | 48236 |  | (172748) |  | (59531) |  | (1236) |  | 296117 |  | (739948) |  |  |
|  | W | 5372876 | W | 4165446 | W | 1174948 | W | 10713270 | W | 1820615 | W | 1274910 | W | 2048270 | W | 365197 | W | 1545857 | W | (739948) | W | 17028171 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net interest<br>income (expenses) | W | 5765967 | W | 3319728 | W | 1138177 | W | 10223872 | W | 604220 | W | (27286) | W | 1661002 | W | (137380) | W | 687978 | W | (185692) | W | 12826714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income |  | 12100679 |  | 7760970 |  | 3349423 |  | 23211072 |  | 1783459 |  | 899571 |  | 2464356 |  | 645953 |  | 1586364 |  | (99390) |  | 30491385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense |  | (6334712) |  | (4441242) |  | (2211246) |  | (12987200) |  | (1179239) |  | (926857) |  | (803354) |  | (783333) |  | (898386) |  | (86302) |  | (17664671) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net fee and commission income (expenses) |  | 410424 |  | 241799 |  | 460655 |  | 1112878 |  | 788521 |  | (35521) |  | 770218 |  | 8295 |  | 1248859 |  | (43623) |  | 3849627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fee and commission income |  | 600466 |  | 390775 |  | 552868 |  | 1544109 |  | 1012768 |  | 10271 |  | 1817271 |  | 16340 |  | 1414179 |  | (333095) |  | 5481843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fee and commission expense |  | (190042) |  | (148976) |  | (92213) |  | (431231) |  | (224247) |  | (45792) |  | (1047053) |  | (8045) |  | (165320) |  | 289472 |  | (1632216) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net insurance income (expenses) |  |  |  |  |  |  |  |  |  |  |  | 1091885 |  | 8133 |  | 480066 |  |  |  | 69677 |  | 1649761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance income |  |  |  |  |  |  |  |  |  |  |  | 10468227 |  | 17233 |  | 1009157 |  |  |  | (38426) |  | 11456191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance expense |  |  |  |  |  |  |  |  |  |  |  | (9376342) |  | (9100) |  | (529091) |  |  |  | 108103 |  | (9806430) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net gains (losses) on financial instruments at<br>fair value through<br>profit or loss |  | 23652 |  |  |  | 744225 |  | 767877 |  | 267257 |  | 344848 |  | 11847 |  | 283572 |  | (13103) |  | (650217) |  | 1012081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net other insurance finance expense |  |  |  |  |  |  |  |  |  |  |  | (55895) |  |  |  | (381106) |  |  |  |  |  | (437001) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net other operating income (expenses) |  | (827167) |  | 603919 |  | (1168109) |  | (1391357) |  | 160617 |  | (43121) |  | (402930) |  | 111750 |  | (377877) |  | 69907 |  | (1873011) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

5.1 Overall Segment Information and Business Segments (cont'd)

---

| | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)*  | *(In millions of Korean won)*  | *(In millions of Korean won)*  | *(In millions of Korean won)*  | *(In millions of Korean won)*  | *(In millions of Korean won)*  | *(In millions of Korean won)*  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Banking business** | **Securities** | **Securities** | **Non-life<br>insurance** | **Non-life<br>insurance** | **Credit card** | **Credit card** | **Life<br>insurance** | **Life<br>insurance** | **Others** | **Others** | **Consolidation<br>adjustments** | **Consolidation<br>adjustments** | **Total** | **Total** |
|  | **Corporate<br>banking** | **Corporate<br>banking** | **Retail banking** | **Retail banking** | **Other banking<br>services** | **Other banking<br>services** | **Sub-total** | **Sub-total** | **Securities** | **Securities** | **Non-life<br>insurance** | **Non-life<br>insurance** | **Credit card** | **Credit card** | **Life<br>insurance** | **Life<br>insurance** | **Others** | **Others** | **Consolidation<br>adjustments** | **Consolidation<br>adjustments** | **Total** | **Total** |
| &nbsp;&nbsp;&nbsp;&nbsp; General and administrative expenses | W | (2004769) | W | (1984805) | W | (644744) | W | (4634318) | W | (980340) | W | (140270) | W | (641283) | W | (147517) | W | (522641) | W | 127745 | W | (6938624) |
| &nbsp;&nbsp;&nbsp;&nbsp; Operating income (expenses) before provision for credit losses |  | 3368107 |  | 2180641 |  | 530204 |  | 6078952 |  | 840275 |  | 1134640 |  | 1406987 |  | 217680 |  | 1023216 |  | (612203) |  | 10089547 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reversal (provision) of credit losses |  | (482326) |  | (196996) |  | (765) |  | (680087) |  | (66978) |  | 1945 |  | (892871) |  | 712 |  | (414498) |  | 7491 |  | (2044286) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net operating income (expenses) |  | 2885781 |  | 1983645 |  | 529439 |  | 5398865 |  | 773297 |  | 1136585 |  | 514116 |  | 218392 |  | 608718 |  | (604712) |  | 8045261 |
| &nbsp;&nbsp;&nbsp;&nbsp; Share of profit (loss) of associates and joint ventures |  |  |  |  |  | 7402 |  | 7402 |  | (35156) |  | 2272 |  | 1238 |  | (259) |  | (282) |  | 7901 |  | (16884) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net other non-operating income (expenses) |  | (61903) |  |  |  | (899066) |  | (960969) |  | 3059 |  | (12950) |  | 9755 |  | 6694 |  | (46838) |  | (41881) |  | (1043130) |
| &nbsp;&nbsp;&nbsp;&nbsp; Segment profit (loss) before income tax expense |  | 2823878 |  | 1983645 |  | (362225) |  | 4445298 |  | 741200 |  | 1125907 |  | 525109 |  | 224827 |  | 561598 |  | (638692) |  | 6985247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Income tax benefit (expense) |  | (927629) |  | (523682) |  | 157415 |  | (1293896) |  | (156310) |  | (286340) |  | (133621) |  | (60555) |  | (88651) |  | 62732 |  | (1956641) |
| &nbsp;&nbsp;&nbsp;&nbsp; Profit (loss) for the year | W | 1896249 | W | 1459963 | W | (204810) | W | 3151402 | W | 584890 | W | 839567 | W | 391488 | W | 164272 | W | 472947 | W | (575960) | W | 5028606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Profit (loss) attributable to shareholders of the Parent Company | W | 1877266 | W | 1459963 | W | (85470) | W | 3251759 | W | 585682 | W | 839494 | W | 402715 | W | 164272 | W | 470606 | W | (636307) | W | 5078221 |
| &nbsp;&nbsp;&nbsp;&nbsp; Profit (loss) attributable to non-controlling interests |  | 18983 |  |  |  | (119340) |  | (100357) |  | (792) |  | 73 |  | (11227) |  |  |  | 2341 |  | 60347 |  | (49615) |
|  Total assets \* |  | 239124552 |  | 176075559 |  | 147687069 |  | 562887180 |  | 63384388 |  | 40776375 |  | 30541628 |  | 34047554 |  | 64172457 |  | (37964050) |  | 757845532 |
|  Total liabilities \* |  | 222291921 |  | 210839098 |  | 91728841 |  | 524859860 |  | 56498405 |  | 34982352 |  | 25236826 |  | 30984398 |  | 27995907 |  | (2527397) |  | 698030351 |

---

\* Assets and liabilities of the reporting segments are amounts before intersegment transactions. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

5.2 Services and Geographical Segments

5.2.1 Services information

Net operating revenues from external customers by service for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Banking service | W | 11057286 | W | 10084160 |
|  Securities service |  | 2201966 |  | 1772379 |
|  Non-life insurance service |  | 1244693 |  | 1447658 |
|  Credit card service |  | 1910627 |  | 2107801 |
|  Life insurance service |  | 342687 |  | 366433 |
|  Others |  | 1187903 |  | 1249740 |
|  | W17,945,162 | W17,945,162 | W17,028,171 | W17,028,171 |

---

5.2.2 Geographical information

Geographical net operating revenues from external customers for the years ended December 31, 2025 and 2024, and major non-current assets as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Net operating revenues**<br>**from external customers** | **Net operating revenues**<br>**from external customers** | **Net operating revenues**<br>**from external customers** | **Net operating revenues**<br>**from external customers** | **Major non-current assets** | **Major non-current assets** | **Major non-current assets** | **Major non-current assets** |
|  | **2025** | **2025** | **2024** | **2024** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Domestic | W | 16368513 | W | 15530844 | W | 8977713 | W | 9915068 |
|  United States |  | 79615 |  | 128325 |  | 31788 |  | 35576 |
|  New Zealand |  | 1013 |  | 12580 |  | 597 |  | 829 |
|  China |  | 165709 |  | 167621 |  | 22657 |  | 22271 |
|  Cambodia |  | 690871 |  | 595562 |  | 96493 |  | 101879 |
|  United Kingdom |  | 73297 |  | 71545 |  | 10572 |  | 9023 |
|  Indonesia |  | 320419 |  | 320741 |  | 466781 |  | 430632 |
|  Others |  | 245725 |  | 200953 |  | 29490 |  | 35746 |
|  Consolidation adjustments |  |  |  |  |  | 331317 |  | 564851 |
|  | W | 17945162 | W | 17028171 | W | 9967408 | W | 11115875 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**6. Financial Assets and Financial Liabilities** 

6.1 Classification and Fair Value of Financial Instruments

6.1.1 Carrying amount and fair value of financial assets and liabilities by category as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Carrying amount** | **Carrying amount** | **Fair value** | **Fair value** |
|  **Financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions | W | 34776877 | W | 34775543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |  | 89862530 |  | 89862530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions |  | 64438 |  | 64438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 80553348 |  | 80553348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 7601453 |  | 7601453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 1231012 |  | 1231012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 412279 |  | 412279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading |  | 7748371 |  | 7748371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for hedging |  | 429685 |  | 429685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  | 491978044 |  | 493706126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at amortized cost |  | 35067192 |  | 34483439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income: |  | 99919485 |  | 99919485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 93312419 |  | 93312419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 4611983 |  | 4611983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 1995083 |  | 1995083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets |  | 19069696 |  | 19069696 |
|  | W | 778851880 | W | 779994875 |
|  **Financial liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss | W | 3339572 | W | 3339572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities designated at fair value through profit or loss |  | 7981018 |  | 7981018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading |  | 7687305 |  | 7687305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for hedging |  | 546984 |  | 546984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits |  | 462397026 |  | 462628538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings |  | 70728396 |  | 70659088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 80049270 |  | 80201757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities |  | 40469257 |  | 40469257 |
|  | W | 673198828 | W | 673513519 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.1 Carrying amount and fair value of financial assets and liabilities by category as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Carrying amount** | **Carrying amount** | **Fair value** | **Fair value** |
|  **Financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions | W | 29869111 | W | 29869335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |  | 79450093 |  | 79450093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions |  | 59838 |  | 59838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 73768636 |  | 73768636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 4275337 |  | 4275337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 1187763 |  | 1187763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 158519 |  | 158519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading |  | 10954870 |  | 10954870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for hedging |  | 775897 |  | 775897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  | 472071840 |  | 473234273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at amortized cost |  | 37113552 |  | 36572012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income: |  | 93895912 |  | 93895912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 88735996 |  | 88735996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 3713288 |  | 3713288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 1446628 |  | 1446628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets |  | 14404227 |  | 14404227 |
|  | W | 738535502 | W | 739156619 |
|  **Financial liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss | W | 2717732 | W | 2717732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities designated at fair value through profit or loss |  | 8002499 |  | 8002499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading |  | 11409695 |  | 11409695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for hedging |  | 373799 |  | 373799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits |  | 435687897 |  | 435991820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings |  | 68077012 |  | 68046196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 76171257 |  | 76583392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities |  | 33594883 |  | 33594883 |
|  | W | 636034774 | W | 636720016 |

---

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Group discloses the fair value of each class of assets and liabilities in a way that permits it to be compared with its carrying amount at the end of each reporting period. The best evidence of fair value of financial instruments is a quoted price in an active market.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.1 Carrying amount and fair value of financial assets and liabilities by category as of December 31, 2025 and 2024, are as follows: (cont'd)

Methods of determining fair value of financial instruments are as follows:

---

| | |
|:---|:---|
|  **Cash and due from financial institutions** | Fair value of cash is same as carrying amount. Carrying amount of demand deposit and settlement deposit is a reasonable approximation of fair value because these financial instruments do not have a fixed maturity and are receivable on demand. Fair value of general deposit is measured using Discounted Cash Flow ("DCF") Model. |
|  **Securities** | Fair value of securities and others that are traded in an active market is determined using the quoted prices. If there is no quoted price, fair value is determined using external professional valuation institutions. The institutions use one or more valuation techniques that are deemed appropriate considering the characteristics of the financial instruments among DCF Model, Free Cash Flow to Equity Model, Comparable Company Analysis, Dividend Discount Model, Risk Adjusted Discount Rate Method, and Net Asset Value Method. |
|  **Loans** | Fair value of loans is determined using DCF Model discounting the expected cash flows, which are contractual cash flows adjusted by the expected prepayment rate, at an appropriate discount rate. |
|  **Derivatives and financial instruments at fair value through profit or loss** | Fair value of exchange traded derivatives is determined using quoted price in an active market, and fair value of OTC derivatives is determined using valuation techniques. The Group uses internally developed valuation models that are widely used by market participants to determine fair value of plain vanilla OTC derivatives including options, interest rate swaps, and currency swaps, based on observable market parameters. However, some complex financial instruments are valued using appropriate models developed from generally accepted market valuation models including Finite Difference Method ("FDM"), Monte Carlo Simulation, Black-Scholes Model, Hull-white Model, Closed Form, and Tree Model or valuation results from independent external professional valuation institutions. |
|  **Deposits** | Carrying amount of demand deposits is a reasonable approximation of fair value because they do not have a fixed maturity and are payable on demand. Fair value of time deposits is determined using DCF Model discounting the expected cash flows, which are contractual cash flows adjusted by the expected prepayment rate, at an appropriate discount rate. |
|  **Borrowings** | Carrying amount of overdrafts in foreign currency is a reasonable approximation of fair value because they do not have a fixed maturity and are payable on demand. Fair value of other borrowings is determined using DCF Model. |
|  **Debentures** | Fair value is determined using valuation results of external professional valuation institutions, which are calculated using market inputs. |
|  **Other financial assets and other financial liabilities** | Carrying amount is a reasonable approximation of fair value because other financial assets and other financial liabilities are temporary accounts used for other various transactions and their maturities are relatively short or not defined. |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.2 Fair value hierarchy

The Group believes that valuation techniques used for measuring the fair value of financial instruments are reasonable and that the fair value recognized in the consolidated statement of financial position is appropriate. However, the fair value of the financial instruments recognized in the consolidated statement of financial position may be different if other valuation techniques or assumptions are used. Additionally, as there are a variety of valuation techniques and assumptions used in measuring fair value, it may be difficult to reasonably compare the fair value with that of other financial institutions.

The Group classifies and discloses fair value of the financial instruments into the three fair value levels as follows:

Level 1: The fair values are based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.

Level 2: The fair values are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: The fair values are based on unobservable inputs for the asset or liability.

The fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. If an observable input requires an adjustment using an unobservable input and that adjustment results in a significantly higher or lower fair value measurement, the resulting measurement would be categorized within Level 3 of the fair value hierarchy.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the consolidated statements of financial position

Fair value hierarchy of financial assets and liabilities at fair value in the consolidated statements of financial position as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Total** | **Total** |
|  | **Level 1** | **Level 1** | **Level 2** | **Level 2** | **Level 3** | **Level 3** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |  |
|  Financial assets at fair value through profit or loss: | W | 32165510 | W | 35812155 | W | 21884865 | W | 89862530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions |  |  |  |  |  | 64438 |  | 64438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 26010266 |  | 35590894 |  | 18952188 |  | 80553348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 5742965 |  | 221261 |  | 1637227 |  | 7601453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  |  |  |  |  | 1231012 |  | 1231012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 412279 |  |  |  |  |  | 412279 |
|  Derivatives held for trading |  | 174420 |  | 7360773 |  | 213178 |  | 7748371 |
|  Derivatives held for hedging |  |  |  | 429685 |  |  |  | 429685 |
|  Financial assets at fair value through other comprehensive income: |  | 49129214 |  | 48982122 |  | 1808149 |  | 99919485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 48548227 |  | 44764192 |  |  |  | 93312419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 580987 |  | 2222847 |  | 1808149 |  | 4611983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  |  |  | 1995083 |  |  |  | 1995083 |
|  | W81,469,144 | W81,469,144 | W92,584,735 | W92,584,735 | W23,906,192 | W23,906,192 | W197,960,071 | W197,960,071 |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |
|  Financial liabilities at fair value through profit or loss | W | 3339572 | W |  | W |  | W | 3339572 |
|  Financial liabilities designated at fair value through profit or loss |  | 507900 |  | 1391155 |  | 6081963 |  | 7981018 |
|  Derivatives held for trading |  | 226234 |  | 7036258 |  | 424813 |  | 7687305 |
|  Derivatives held for hedging |  |  |  | 546984 |  |  |  | 546984 |
|  | W 4,073,706 | W 4,073,706 | W 8,974,397 | W 8,974,397 | W 6,506,776 | W 6,506,776 | W 19,554,879 | W 19,554,879 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the consolidated statements of financial position (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Total** | **Total** |
|  | **Level 1** | **Level 1** | **Level 2** | **Level 2** | **Level 3** | **Level 3** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |  |
|  Financial assets at fair value through profit or loss: | W | 25554893 | W | 33768117 | W | 20127083 | W | 79450093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions |  |  |  |  |  | 59838 |  | 59838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 22775948 |  | 33630189 |  | 17362499 |  | 73768636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 2620426 |  | 137928 |  | 1516983 |  | 4275337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  |  |  |  |  | 1187763 |  | 1187763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 158519 |  |  |  |  |  | 158519 |
|  Derivatives held for trading |  | 20637 |  | 10682718 |  | 251515 |  | 10954870 |
|  Derivatives held for hedging |  |  |  | 775897 |  |  |  | 775897 |
|  Financial assets at fair value through other comprehensive income: |  | 43858598 |  | 48537327 |  | 1499987 |  | 93895912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 43319466 |  | 45416530 |  |  |  | 88735996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 539132 |  | 1674169 |  | 1499987 |  | 3713288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  |  |  | 1446628 |  |  |  | 1446628 |
|  | W | 69434128 | W | 93764059 | W | 21878585 | W | 185076772 |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |
|  Financial liabilities at fair value through profit or loss | W | 2717732 | W |  | W |  | W | 2717732 |
|  Financial liabilities designated at fair value through profit or loss |  | 300489 |  | 1529492 |  | 6172518 |  | 8002499 |
|  Derivatives held for trading |  | 353074 |  | 10458585 |  | 598036 |  | 11409695 |
|  Derivatives held for hedging |  |  |  | 373799 |  |  |  | 373799 |
|  | W | 3371295 | W | 12361876 | W | 6770554 | W | 22503725 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the consolidated statements of financial position (cont'd)

Valuation techniques and inputs of financial assets and liabilities classified as Level 2 and measured at fair value in the consolidated statements of financial position as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value** | **Fair value** | **Valuation techniques** | **Inputs** |
|  **Financial assets** |  |  |  |  |
|  Financial assets at fair value through profit or loss: | W | 35812155 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 35590894 | DCF Model, Closed Form, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, Net Asset Value Method, Binomial Model, and others | Projected cash flow, Fair value of underlying asset, Dividend yield, Price of underlying asset, Interest rate, Discount rate, Volatility, Correlation coefficient, and others |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 221261 | DCF Model | Interest rate, Discount rate, and others |
|  Derivatives held for trading |  | 7360773 | DCF Model, Closed Form, FDM, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, Option Model, and others | Price of underlying asset, Underlying asset index, Interest rate, Volatility, Foreign exchange rate, Discount rate, and others |
|  Derivatives held for hedging |  | 429685 | DCF Model, Closed Form, FDM | Projected cash flow, Discount rate, Volatility, Foreign exchange rate, Risk free interest rate, and others |
|  Financial assets at fair value through other comprehensive income: |  | 48982122 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 44764192 | DCF Model, Option Model, Hull-white Model | Underlying asset index, Interest rate, Discount rate, and others |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 2222847 | DCF Model | Interest rate, Discount rate, and others |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 1995083 | DCF Model | Discount rate |
|  | W | 92584735 |  |  |
|  **Financial liabilities** |  |  |  |  |
|  Financial liabilities designated at fair value through profit or loss | W | 1391155 | DCF Model, Closed Form, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, and others | Price of underlying asset, Interest rate, Dividend yield, Volatility, Discount rate |
|  Derivatives held for trading |  | 7036258 | DCF Model, Closed Form, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, and others | Price of underlying asset, Interest rate, Foreign exchange rate, Credit spread, Discount rate, Volatility, and others |
|  Derivatives held for hedging |  | 546984 | DCF Model, Closed Form, FDM | Projected cash flow, Discount rate, Volatility, Foreign exchange rate, Risk free interest rate, and others |
|  | W | 8974397 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the consolidated statements of financial position (cont'd)

*(In millions of Korean won)* 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value** | **Fair value** | **Valuation techniques** | **Inputs** |
|  **Financial assets** |  |  |  |  |
|  Financial assets at fair value through profit or loss: | W | 33768117 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 33630189 | DCF Model, Closed Form, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, Net Asset Value Method, Binomial Model, and others | Projected cash flow, Fair value of underlying asset, Dividend yield, Price of underlying asset, Interest rate, Discount rate, Volatility, Correlation coefficient, and others |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 137928 | DCF Model | Interest rate, Discount rate, and others |
| Derivatives held for trading |  | 10682718 | DCF Model, Closed Form, FDM, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, Option Model, and others | Price of underlying asset, Underlying asset index, Interest rate, Volatility, Foreign exchange rate, Discount rate, and others |
| Derivatives held for hedging |  | 775897 | DCF Model, Closed Form, FDM | Projected cash flow, Discount rate, Forward foreign exchange rate, Volatility, Foreign exchange rate, CRS interest rate, and others |
|  Financial assets at fair value through other comprehensive income: |  | 48537327 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 45416530 | DCF Model, Option Model | Underlying asset index, Interest rate, Discount rate |
|  Equity securities |  | 1674169 | DCF Model | Interest rate, Discount rate |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 1446628 | DCF Model | Discount rate |
|  | W | 93764059 |  |  |
|  **Financial liabilities** |  |  |  |  |
|  Financial liabilities designated at fair value through profit or loss | W | 1529492 | DCF Model, Closed Form, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, and others | Price of underlying assets, Interest rate, Dividend yield, Volatility, Discount rate |
|  Derivatives held for trading |  | 10458585 | DCF Model, Closed Form, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, and others | Interest rate, Price of underlying asset, Foreign exchange rate, Credit spread, Discount rate, Volatility, and others |
|  Derivatives held for hedging |  | 373799 | DCF Model, Closed Form, FDM | Projected cash flow, Discount rate, Forward foreign exchange rate, Volatility, Foreign exchange rate, Risk free interest rate, and others |
|  | W | 12361876 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed

Fair value hierarchy of financial assets and liabilities whose fair value is disclosed as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Total** | **Total** |
|  | **Level 1** | **Level 1** | **Level 2** | **Level 2** | **Level 3** | **Level 3** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions <sup>1</sup> | W | 2443177 | W | 30509973 | W | 1822393 | W | 34775543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  |  |  | 78800 |  | 493627326 |  | 493706126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at amortized cost <sup>2</sup> |  | 3728583 |  | 30729485 |  | 25371 |  | 34483439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets <sup>2</sup> |  |  |  |  |  | 19069696 |  | 19069696 |
|  | W | 6171760 | W | 61318258 | W | 514544786 | W | 582034804 |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits <sup>1</sup> | W |  | W | 189727760 | W | 272900778 | W | 462628538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings <sup>3</sup> |  |  |  | 3063522 |  | 67595566 |  | 70659088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  |  |  | 70382029 |  | 9819728 |  | 80201757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities <sup>2</sup> |  |  |  |  |  | 40469257 |  | 40469257 |
|  | W |  | W | 263173311 | W | 390785329 | W | 653958640 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Total** | **Total** |
|  | **Level 1** | **Level 1** | **Level 2** | **Level 2** | **Level 3** | **Level 3** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions <sup>1</sup> | W | 2353334 | W | 24731260 | W | 2784741 | W | 29869335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  |  |  | 106823 |  | 473127450 |  | 473234273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at amortized cost <sup>2</sup> |  | 4746587 |  | 31799265 |  | 26160 |  | 36572012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets <sup>2</sup> |  |  |  |  |  | 14404227 |  | 14404227 |
|  | W 7,099,921 | W 7,099,921 | W 56,637,348 | W 56,637,348 | W 490,342,578 | W 490,342,578 | W 554,079,847 | W 554,079,847 |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits <sup>1</sup> | W |  | W | 174567804 | W | 261424016 | W | 435991820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings <sup>3</sup> |  |  |  | 4441612 |  | 63604584 |  | 68046196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  |  |  | 67455577 |  | 9127815 |  | 76583392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities <sup>2</sup> |  |  |  |  |  | 33594883 |  | 33594883 |
|  | W |  | W | 246464993 | W | 367751298 | W | 614216291 |

---

<sup>1</sup> The amounts included in Level 2 are the carrying amounts which are reasonable approximations of fair value. 

<sup>2</sup> The amounts included in Level 3 are the carrying amounts which are reasonable approximations of fair value. 

<sup>3</sup> Borrowings of W 731 million and W 15,155 million included in Level 2 are the carrying amounts which are reasonable approximations of fair value as of December 31, 2025 and 2024, respectively. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed (cont'd)

For financial assets and liabilities whose carrying amount is a reasonable approximation of fair value, valuation techniques and inputs are not disclosed.

Valuation techniques and inputs of financial assets and liabilities classified as Level 2, and whose fair value is disclosed as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value** | **Fair value** | **Valuation<br>techniques** | **Inputs** |
|  **Financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost | W | 78800 | DCF Model | Discount rate |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at amortized cost |  | 30729485 | DCF Model,<br> MonteCarlo<br>Simulation | Discount<br>rate, Interest<br>rate |
|  | W30,808,285 | W30,808,285 |  |  |
|  **Financial liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings | W | 3062791 | DCF Model | Discount rate |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 70382029 | DCF Model | Discount rate |
|  | W73,444,820 | W73,444,820 |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value** | **Fair value** | **Valuation<br>techniques** | **Inputs** |
|  **Financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost | W | 106823 | DCF Model | Discount rate |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at amortized cost |  | 31799265 | DCF Model,<br> MonteCarlo<br>Simulation | Discount<br>rate, Interest<br>rate |
|  | W31,906,088 | W31,906,088 |  |  |
|  **Financial liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings | W | 4426457 | DCF Model | Discount rate |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 67455577 | DCF Model | Discount rate |
|  | W71,882,034 | W71,882,034 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed (cont'd)

Valuation techniques and inputs of financial assets and liabilities classified as Level 3, and whose fair value is disclosed as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value** | **Fair value** | **Valuation**<br>**techniques** | **Inputs** |
|  **Financial assets** |  |  |  |  |
|  Cash and due from financial institutions | W | 1822393 | DCF Model | Credit spread, Other spread, Interest rate, Discount rate |
|  Loans measured at amortized cost |  | 493627326 | DCF Model | Credit spread, Other spread,<br> Prepayment rate, Interest rate, Discount rate, and others |
|  | W | 495449719 |  |  |
|  **Financial liabilities** |  |  |  |  |
|  Deposits | W | 272900778 | DCF Model | Other spread, Prepayment rate, Interest rate, Discount rate |
|  Borrowings |  | 67595566 | DCF Model | Other spread, Contractual cash flows, Discount rate, Interest rate |
|  Debentures |  | 9819728 | DCF Model | Contractual cash flows, Discount rate, and others |
|  | W | 350316072 |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value** | **Fair value** | **Valuation**<br>**techniques** | **Inputs** |
|  **Financial assets** |  |  |  |  |
|  Cash and due from financial institutions | W | 2784741 | DCF Model | Credit spread, Other spread, Interest rate, Discount rate |
|  Loans measured at amortized cost |  | 473127450 | DCF Model | Credit spread, Other spread, Prepayment rate, Interest rate, Discount rate, and others |
|  | W | 475912191 |  |  |
|  **Financial liabilities** |  |  |  |  |
|  Deposits | W | 261424016 | DCF Model | Other spread, Prepayment rate, Interest rate, Discount rate |
|  Borrowings |  | 63604584 | DCF Model | Other spread, Contractual cash flows, Discount rate |
|  Debentures |  | 9127815 | DCF Model | Contractual cash flows, Discount rate, and others |
|  | W | 334156415 |  |  |

---

**6.2 Disclosure of Fair Value Hierarchy Level 3** 

6.2.1 Valuation policy and process of Level 3 fair value

The Group uses external, independent and qualified valuation service in addition to internal valuation models to determine the fair value of financial instruments at the end of every reporting period.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed (cont'd)

If the changes in situation and events which cause transfers between the fair value hierarchy level for a financial asset or liability occur, the Group's policy is to recognize such transfers as having occurred at the beginning of the reporting period.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.2 Changes in fair value (Level 3) measured using valuation technique based on unobservable inputs in the market

6.2.2.1 Changes in financial instruments classified as Level 3 of the fair value hierarchy for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Financial assets at fair value through profit**<br>**or loss** | **Financial assets at fair value through profit**<br>**or loss** | **Financial assets at fair value through profit**<br>**or loss** | **Financial assets at fair value through profit**<br>**or loss** | **Financial assets at fair value through profit**<br>**or loss** | **Financial assets at fair value through profit**<br>**or loss** | **Financial investments** | **Financial investments** | **Financial<br>liabilities at<br>fair value<br>through profit<br>or loss** | **Financial<br>liabilities at<br>fair value<br>through profit<br>or loss** | **Net<br>derivative<br>financial<br>instruments** | **Net<br>derivative<br>financial<br>instruments** |
|  | **Due from<br>financial<br>institutions<br>measured at fair<br>value through<br>profit or loss** | **Due from<br>financial<br>institutions<br>measured at fair<br>value through<br>profit or loss** | **Securities<br>measured at<br>fair value<br>through profit<br>or loss** | **Securities<br>measured at<br>fair value<br>through profit<br>or loss** | **Loans<br>measured at<br>fair value<br>through profit<br>or loss** | **Loans<br>measured at<br>fair value<br>through profit<br>or loss** | **Equity securities<br>measured at fair<br>value through other<br>comprehensive<br>income** | **Equity securities<br>measured at fair<br>value through other<br>comprehensive<br>income** | **Financial<br>liabilities<br>designated at<br>fair value<br>through profit<br>or loss** | **Financial<br>liabilities<br>designated at<br>fair value<br>through profit<br>or loss** | **Derivatives<br>held for<br>trading** | **Derivatives<br>held for<br>trading** |
|  Beginning | W | 59838 | W | 18879482 | W | 1187763 | W | 1499987 | W | (6172518) | W | (346522) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total gains or losses: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit or loss |  | 4600 |  | 481169 |  | (27174) |  |  |  | (399502) |  | 28130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other comprehensive income (loss) |  |  |  |  |  |  |  | 183810 |  | (2871) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases |  |  |  | 4833317 |  | 3182684 |  | 219861 |  |  |  | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales |  |  |  | (3554084) |  | (3112261) |  | (87718) |  |  |  | (100) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issues |  |  |  |  |  |  |  |  |  | (4566704) |  | (6709) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Settlements |  |  |  |  |  |  |  |  |  | 5059632 |  | 117965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers into Level 3 \* |  |  |  | 7518 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers out of Level 3 \* |  |  |  | (57987) |  |  |  | (7791) |  |  |  | (4410) |
|  Ending | W | 64438 | W | 20589415 | W | 1231012 | W | 1808149 | W | (6081963) | W | (211635) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.2.1 Changes in financial instruments classified as Level 3 of the fair value hierarchy for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Financial assets at fair value through profit**<br>**or loss** | **Financial assets at fair value through profit**<br>**or loss** | **Financial assets at fair value through profit**<br>**or loss** | **Financial assets at fair value through profit**<br>**or loss** | **Financial assets at fair value through profit**<br>**or loss** | **Financial assets at fair value through profit**<br>**or loss** | **Financial investments** | **Financial investments** | **Financial<br>liabilities at fair<br>value through<br>profit or loss** | **Financial<br>liabilities at fair<br>value through<br>profit or loss** | **Net derivative<br>financial<br>instruments** | **Net derivative<br>financial<br>instruments** |
|  | **Due from<br>financial<br>institutions<br>measured at fair<br>value through<br>profit or loss** | **Due from<br>financial<br>institutions<br>measured at fair<br>value through<br>profit or loss** | **Securities<br>measured at<br>fair value<br>through profit<br>or loss** | **Securities<br>measured at<br>fair value<br>through profit<br>or loss** | **Loans<br>measured at fair<br>value through<br>profit or loss** | **Loans<br>measured at fair<br>value through<br>profit or loss** | **Equity**<br>**securities**<br>**measured at**<br>**fair value**<br>**through other<br>comprehensive<br>income** | **Equity**<br>**securities**<br>**measured at**<br>**fair value**<br>**through other<br>comprehensive<br>income** | **Financial<br>liabilities<br>designated at fair<br>value through<br>profit or loss** | **Financial<br>liabilities<br>designated at fair<br>value through<br>profit or loss** | **Derivatives<br>held for trading** | **Derivatives<br>held for trading** |
|  Beginning | W | 53791 | W | 17986748 | W | 183490 | W | 1450908 | W | (7028486) | W | (666734) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total gains or losses: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit or loss |  | 6047 |  | 488988 |  | 44863 |  |  |  | (268251) |  | (256240) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other comprehensive income (loss) |  |  |  | 2 |  |  |  | (197070) |  | (10816) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases |  |  |  | 3820317 |  | 1493924 |  | 246560 |  |  |  | 5042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales |  |  |  | (3280871) |  | (534676) |  | (411) |  |  |  | (5362) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issues |  |  |  |  |  |  |  |  |  | (4200664) |  | (2960) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Settlements |  |  |  |  |  |  |  |  |  | 5335699 |  | 579732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers into Level 3 \* |  |  |  | 6142 |  | 162 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers out of Level 3 \* |  |  |  | (141844) |  |  |  |  |  |  |  |  |
|  Ending | W | 59838 | W | 18879482 | W | 1187763 | W | 1499987 | W | (6172518) | W | (346522) |

---

\* Transfers into or out of Level 3 of the fair value hierarchy occurred due to the change in the availability of observable market data.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.2.2 In relation to changes in financial instruments classified as Level 3 of the fair value hierarchy, total gains or losses recognized in profit or loss for the period, and total gains or losses recognized in profit or loss from financial instruments held at the end of the reporting period for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Net gains on<br>financial<br>instruments<br>at fair value<br>through<br>profit or loss** | **Net gains on<br>financial<br>instruments<br>at fair value<br>through<br>profit or loss** | **Other<br>operating<br>income** | **Other<br>operating<br>income** | **Net**<br>**interest<br>income** | **Net gains on<br>financial<br>instruments<br>at fair value<br>through<br>profit or loss** | **Net gains on<br>financial<br>instruments<br>at fair value<br>through<br>profit or loss** | **Other<br>operating<br>income** | **Other<br>operating<br>income** | **Net**<br>**interest<br>income** |
|  Total gains (losses) recognized in profit or loss for the period | W | 125170 | W | (37947) | W | W | (364765) | W | 380172 | W |
|  Total gains (losses) recognized in profit or loss from financial instruments held at the end of the reporting period |  | 283938 |  | (24367) |  |  | (45787) |  | 322839 |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.3 Sensitivity analysis of changes in unobservable inputs

6.2.3.1 Information about fair value measurements using unobservable inputs as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value** | **Fair value** | **Valuation techniques** | **Unobservable inputs** | **Range of<br>unobservable<br>inputs (%)** | **Relationship of**<br> **unobservable inputs to fair<br>value** |
| **Financial assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions | W | 64438 | Hull-white Model | &nbsp;&nbsp;&nbsp;&nbsp; Volatility | 0.5 | The higher the volatility, the higher the fair value fluctuation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 18952188 | DCF Model, Closed Form, FDM, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Option Model, Binomial Model, Net Asset Value Method, Income Approach, Market Value Approach, and others | &nbsp;&nbsp;&nbsp;&nbsp; Growth rate | 1.00 ~ 3.00 | The higher the growth rate, the higher the fair value |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 18952188 | DCF Model, Closed Form, FDM, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Option Model, Binomial Model, Net Asset Value Method, Income Approach, Market Value Approach, and others | &nbsp;&nbsp;&nbsp;&nbsp; Volatility | 0.50 ~ 63.60 | The higher the volatility, the higher the fair value fluctuation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 18952188 | DCF Model, Closed Form, FDM, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Option Model, Binomial Model, Net Asset Value Method, Income Approach, Market Value Approach, and others | &nbsp;&nbsp;&nbsp;&nbsp; Discount rate | 1.86 ~ 12.88 | The lower the discount rate, the higher the fair value |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Volatility of Stock price | 10.00 ~ 34.17 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Correlation coefficient between underlying assets | -57.80 ~ 100.00 | The higher the correlation coefficient, the higher the fair value fluctuation |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Liquidation value | -1.00 ~ 1.00 | The higher the liquidation value, the higher the fair value |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Recovery rate | 40 | The higher the recovery rate, the higher the fair value |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Rate of real estate price fluctuation | 0.00 | The higher the sale price of real estate, the higher the fair value |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 1637227 | Income Approach, Market Value Approach, Asset Value Approach, DCF Model, Comparable Company Analysis, Risk Adjusted Discount Rate Method, Dividend Discount Model, Usage of Past Transactions, Binomial Model, and others | &nbsp;&nbsp;&nbsp;&nbsp; Growth rate | 0.00 ~ 1.00 | The higher the growth rate, the higher the fair value |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 1637227 | Income Approach, Market Value Approach, Asset Value Approach, DCF Model, Comparable Company Analysis, Risk Adjusted Discount Rate Method, Dividend Discount Model, Usage of Past Transactions, Binomial Model, and others | &nbsp;&nbsp;&nbsp;&nbsp; Discount rate | 7.22 ~ 14.92 | The lower the discount rate, the higher the fair value |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 1637227 |  | &nbsp;&nbsp;&nbsp;&nbsp; Volatility | 0.46 ~ 78.10 | The higher the volatility, the higher the fair value fluctuation |
|  Loans |  | 1231012 | DCF Model | &nbsp;&nbsp;&nbsp;&nbsp; Discount rate | 5.27 ~ 8.93 | The lower the discount rate, the higher the fair value |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.3.1 Information about fair value measurements using unobservable inputs as of December 31, 2025 and 2024, are as follows: (cont'd)

*(In millions of Korean won)* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value** | **Fair value** | **Valuation techniques** | **Unobservable inputs** | **Range of<br>unobservable<br>inputs (%)** | **Relationship of**<br> **unobservable inputs to fair<br>value** |
|  Derivatives held for trading: | Derivatives held for trading: | Derivatives held for trading: | Derivatives held for trading: | Derivatives held for trading: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock and index | W | 191383 | DCF Model, Closed Form, FDM, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Binomial Model, Net Asset Value Method | Volatility of underlying asset | 3.00 ~ 59.38 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | Correlation coefficient | -57.80 ~ 74.14 | The higher the correlation coefficient, the higher the fair value fluctuation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency, interest rate, and others |  | 21795 | DCF Model, Hull-white Model, MonteCarlo Simulation, Closed Form | Volatility | 0.54 ~ 0.80 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | Correlation coefficient | 14.91 ~ 100.00 | The higher the correlation coefficient, the higher the fair value fluctuation |
|  Financial assets at fair value through other comprehensive income: | Financial assets at fair value through other comprehensive income: | Financial assets at fair value through other comprehensive income: | Financial assets at fair value through other comprehensive income: | Financial assets at fair value through other comprehensive income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 1808149 | DCF Model, Comparable Company Analysis, Risk Adjusted Discount Rate Method, IMV Model, Income Approach, Net Asset Value Method, Market Approach, Tree Model, Monte Carlo Simulation, and others | Growth rate | 0.00 ~ 1.00 | The higher the growth rate, the higher the fair value |
|  |  |  |  | Discount rate | 4.82 ~ 17.33 | The lower the discount rate, the higher the fair value |
|  |  |  |  | Volatility | 0.50 ~ 26.47 | The higher the volatility, the higher the fair value fluctuation |
|  | W | 23906192 |  |  |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.3.1 Information about fair value measurements using unobservable inputs as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value** | **Fair value** | **Valuation techniques** | **Unobservable inputs** | **Range of<br>unobservable<br>inputs (%)** | **Relationship of**<br> **unobservable inputs to fair<br>value** |
| **Financial liabilities** |  |  |  |  |  |  |
|  Financial liabilities designated at fair value through profit or loss: | Financial liabilities designated at fair value through profit or loss: | Financial liabilities designated at fair value through profit or loss: | Financial liabilities designated at fair value through profit or loss: | Financial liabilities designated at fair value through profit or loss: |  |  |
|  Derivative-linked securities | W | 6081963 | DCF Model, Closed Form, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, Net Asset Value Method, and others | Volatility of underlying asset | 0.54 ~ 60.16 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | Correlation coefficient | -57.80 ~ 100.00 | The higher the correlation coefficient, the higher the fair value fluctuation |
|  Derivatives held for trading: |  |  |  |  |  |  |
|  Stock and index |  | 45370 | DCF Model, Closed Form, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Net Asset Value Method, and others | Volatility of underlying asset | 22.48 ~ 60.16 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | Correlation coefficient | -57.80 ~ 74.14 | The higher the correlation coefficient, the higher the fair value fluctuation |
|  Others |  | 379443 | DCF Model, Hull-white Model, MonteCarlo Simulation, Closed Form | Discount rate | 3.20 | The lower the discount rate, the higher the fair value |
|  |  |  |  | Volatility of underlying asset | 0.54 ~ 23.36 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | Correlation coefficient | -24.89 ~ 100.00 | The higher the correlation coefficient, the higher the fair value fluctuation |
|  | W | 6506776 |  |  |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.3.1 Information about fair value measurements using unobservable inputs as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value** | **Fair value** | **Valuation techniques** | **Unobservable inputs** | **Range of<br>unobservable<br>inputs (%)** | **Relationship of**<br> **unobservable inputs to fair<br>value** |
| **Financial assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions | W | 59838 | Hull-white Model | &nbsp;&nbsp;&nbsp;&nbsp; Volatility | 0.46 ~ 0.62 | The higher the volatility, the higher the fair value fluctuation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 17362499 | DCF Model, Closed Form, FDM, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Option Model, Binomial Model, Net Asset Value Method, Milestone Method, Income Approach, Market Value Approach, and others | &nbsp;&nbsp;&nbsp;&nbsp; Growth rate | 1.00 ~ 3.00 | The higher the growth rate, the higher the fair value |
|  |  | 17362499 | DCF Model, Closed Form, FDM, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Option Model, Binomial Model, Net Asset Value Method, Milestone Method, Income Approach, Market Value Approach, and others | &nbsp;&nbsp;&nbsp;&nbsp; Volatility | 0.46 ~ 76.22 | The higher the volatility, the higher the fair value fluctuation |
|  |  | 17362499 | DCF Model, Closed Form, FDM, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Option Model, Binomial Model, Net Asset Value Method, Milestone Method, Income Approach, Market Value Approach, and others | &nbsp;&nbsp;&nbsp;&nbsp; Discount rate | 0.00 ~ 15.53 | The lower the discount rate, the higher the fair value |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Volatility of Stock price | 10.00 ~ 29.90 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Correlation coefficient between underlying assets | 90.00 | The higher the correlation coefficient, the higher the fair value fluctuation |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Liquidation value | -1.00 ~ 1.00 | The higher the liquidation value, the higher the fair value |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Recovery rate | 40.00 | The higher the recovery rate, the higher the fair value |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; Rate of real estate price fluctuation | -1.00 ~ 1.00 | The higher the sale price of real estate, the higher the fair value |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 1516983 | Income Approach, Market Value Approach, Asset Value Approach, DCF Model, Comparable Company Analysis, Risk Adjusted Discount Rate Method, Dividend Discount Model, Usage of Past Transactions, Binomial Model, and others | Growth rate | 0.00 ~ 1.00 | The higher the growth rate, the higher the fair value |
|  |  | 1516983 | Income Approach, Market Value Approach, Asset Value Approach, DCF Model, Comparable Company Analysis, Risk Adjusted Discount Rate Method, Dividend Discount Model, Usage of Past Transactions, Binomial Model, and others | Discount rate | 5.90 ~ 33.90 | The lower the discount rate,<br>the higher the fair value |
|  |  | 1516983 |  | Volatility | 0.50 ~ 0.71 | The higher the volatility, the higher the fair value fluctuation |
|  Loans |  | 1187763 | DCF Model | Discount rate | 8.54 | The lower the discount rate, the higher the fair value |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.3.1 Information about fair value measurements using unobservable inputs as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value** | **Fair value** | **Valuation techniques** | **Unobservable inputs** | **Range of<br>unobservable<br>inputs (%)** | **Relationship of**<br> **unobservable inputs to fair<br>value** |
|  Derivatives held for trading: | Derivatives held for trading: | Derivatives held for trading: | Derivatives held for trading: | Derivatives held for trading: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock and index | W | 30246 | DCF Model, Closed Form, FDM, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Binomial Model, Net Asset Value Method | Volatility of underlying asset | 18.85 ~ 65.13 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | Correlation coefficient | -58.46 ~ 74.20 | The higher the correlation coefficient, the higher the fair value fluctuation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency, interest rate, and others |  | 221269 | DCF Model, Hull-white Model, MonteCarlo Simulation, Closed Form | Volatility | 0.57 ~ 25.22 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | Correlation coefficient | -58.46 ~ 100.00 | The higher the correlation coefficient, the higher the fair value fluctuation |
|  Financial assets at fair value through other comprehensive income: | Financial assets at fair value through other comprehensive income: | Financial assets at fair value through other comprehensive income: | Financial assets at fair value through other comprehensive income: | Financial assets at fair value through other comprehensive income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 1499987 | DCF Model, Comparable Company Analysis, Risk Adjusted Discount Rate Method, IMV Model, Income Approach, Net Asset Value Method, Market Approach, Tree Model, Monte Carlo Simulation, and others | Growth rate | 0.00 ~ 1.00 | The higher the growth rate, the higher the fair value |
|  |  |  |  | Discount rate | 6.01 ~ 16.00 | The lower the discount rate, the higher the fair value |
|  |  |  |  | Volatility | 0.50 ~ 31.79 | The higher the volatility, the higher the fair value fluctuation |
|  | W | 21878585 |  |  |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.3.1 Information about fair value measurements using unobservable inputs as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value** | **Fair value** | **Valuation techniques** | **Unobservable inputs** | **Range of<br>unobservable<br>inputs (%)** | **Relationship of**<br> **unobservable inputs to fair<br>value** |
| **Financial liabilities** |  |  |  |  |  |  |
|  Financial liabilities designated at fair value through profit or loss: | Financial liabilities designated at fair value through profit or loss: | Financial liabilities designated at fair value through profit or loss: | Financial liabilities designated at fair value through profit or loss: | Financial liabilities designated at fair value through profit or loss: |  |  |
|  Derivative-linked securities | W | 6172518 | DCF Model, Closed Form, MonteCarlo Simulation, Black-Scholes Model, Hull-white Model, Net Asset Value Method, and others | Volatility of underlying asset | 0.51 ~ 65.13 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | Correlation coefficient | -58.46 ~ 100.00 | The higher the correlation coefficient, the higher the fair value fluctuation |
|  Derivatives held for trading: |  |  |  |  |  |  |
|  Stock and index |  | 159769 | DCF Model, Closed Form, MonteCarlo Simulation, Hull-white Model, Black-Scholes Model, Net Asset Value Method, and others | Volatility of underlying asset | 0.57 ~ 58.87 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | Correlation coefficient | -58.46 ~ 100.00 | The higher the correlation coefficient, the higher the fair value fluctuation |
|  Others |  | 438267 | DCF Model, Hull-white Model, MonteCarlo Simulation, Closed Form | Discount rate | 3.70 ~ 3.74 | The lower the discount rate, the higher the fair value |
|  |  |  |  | Volatility of underlying asset | 0.51 ~ 57.61 | The higher the volatility, the higher the fair value fluctuation |
|  |  |  |  | Correlation coefficient | -26.22 ~ 100.00 | The higher the correlation coefficient, the higher the fair value fluctuation |
|  | W | 6770554 |  |  |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.3.2 Sensitivity analysis of changes in unobservable inputs

Sensitivity analysis of financial instruments is performed to measure favorable and unfavorable changes in fair value of financial instruments which are affected by unobservable parameters, using a statistical technique. When the fair value is affected by more than one input parameter, the amounts represent the most favorable or most unfavorable outcome. Level 3 financial instruments subject to sensitivity analysis are (a) equity-related derivatives, currency-related derivatives, and interest rate related derivatives whose fair value changes are recognized in profit or loss, (b) financial liabilities designated at fair value through profit or loss, and (c) due from financial institutions, debt securities (including beneficiary certificates), equity securities, and loans whose fair value changes are recognized in profit or loss or other comprehensive income or loss.

Results of the sensitivity analysis of changes in unobservable inputs as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Profit or loss** | **Profit or loss** | **Profit or loss** | **Profit or loss** | **Other comprehensive**<br>**income or loss** | **Other comprehensive**<br>**income or loss** | **Other comprehensive**<br>**income or loss** | **Other comprehensive**<br>**income or loss** |
|  | **Favorable**<br>**changes** | **Favorable**<br>**changes** | **Unfavorable**<br>**changes** | **Unfavorable**<br>**changes** | **Favorable**<br>**changes** | **Favorable**<br>**changes** | **Unfavorable**<br>**changes** | **Unfavorable**<br>**changes** |
|  **Financial assets** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: <sup>1</sup> |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions | W | 11 | W | (11) | W |  | W |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities <sup>4</sup> |  | 108191 |  | (107444) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities <sup>3</sup> |  | 38454 |  | (24736) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans <sup>5</sup> |  | 4467 |  | (3416) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading <sup>2</sup> |  | 6820 |  | (7209) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities <sup>3</sup> |  |  |  |  |  | 57358 |  | (38779) |
|  | W | 157943 | W | (142816) | W | 57358 | W | (38779) |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities designated at fair value through profit or loss <sup>1</sup> | W | 14921 | W | (13977) | W |  | W |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading <sup>2</sup> |  | 9346 |  | (10111) |  |  |  |  |
|  | W | 24267 | W | (24088) | W |  | W |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.3.2 Sensitivity analysis of changes in unobservable inputs (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Profit or loss** | **Profit or loss** | **Profit or loss** | **Profit or loss** | **Other comprehensive**<br>**income or loss** | **Other comprehensive**<br>**income or loss** | **Other comprehensive**<br>**income or loss** | **Other comprehensive**<br>**income or loss** |
|  | **Favorable**<br>**changes** | **Favorable**<br>**changes** | **Unfavorable**<br>**changes** | **Unfavorable**<br>**changes** | **Favorable**<br>**changes** | **Favorable**<br>**changes** | **Unfavorable**<br>**changes** | **Unfavorable**<br>**changes** |
|  **Financial assets** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: <sup>1</sup> |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions | W | 141 | W | (151) | W |  | W |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities <sup>4</sup> |  | 103717 |  | (102842) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities <sup>3</sup> |  | 35920 |  | (19754) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans <sup>5</sup> |  | 2329 |  | (2119) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading <sup>2</sup> |  | 14878 |  | (16535) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities <sup>3</sup> |  |  |  |  |  | 57795 |  | (36073) |
|  | W | 156985 | W | (141401) | W | 57795 | W | (36073) |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities designated at fair value through profit or loss <sup>1</sup> | W | 16840 | W | (16760) | W |  | W |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading <sup>2</sup> |  | 22119 |  | (24506) |  |  |  |  |
|  | W | 38959 | W | (41266) | W |  | W |  |

---

<sup>1</sup> For financial instruments at fair value through profit or loss, changes in fair value are calculated by shifting principal unobservable input parameters such as discount rate, recovery rate, liquidation value, growth rate by ±1%p and volatility of underlying asset by ±1%p or ±10% and correlation coefficient by ±10%. 

<sup>2</sup> For derivative financial instruments, changes in fair value are calculated by shifting principal unobservable input parameters such as price of underlying asset and volatility by +3% or ± 10%. 

<sup>3</sup> For equity securities, changes in fair value are calculated by shifting principal unobservable input parameters such as correlation between discount rate (-1%p~1%p) and growth rate (-1%p~1%p). 

<sup>4</sup> For beneficiary certificates, it is practically impossible to analyze sensitivity of changes in unobservable inputs. However, for beneficiary certificates whose underlying assets are real estates, changes in fair value are calculated by shifting rate of real estate price fluctuation by -1%p~1%p, and for beneficiary certificates whose underlying assets are equity investments, changes in fair value are calculated by shifting principal unobservable input parameters such as liquidation value by -1%p~1%p and discount rate by -1%p~1%p. There is no significant correlation among major unobservable inputs. 

<sup>5</sup> For loans, changes in fair value are calculated by shifting principal unobservable input parameters such as discount rate by -1%p~1%p. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.2.4 Day one gains or losses

When the Group measures the fair value of OTC derivatives using inputs that are not based on observable market data, there could be a difference between the transaction price and the amount determined using that valuation technique. In these circumstances, the fair value of financial instruments is recognized as the transaction price, and the difference is not recognized in profit or loss but deferred and amortized using the straight-line method over the life of the financial instrument. When the fair value of the financial instruments is subsequently determined using observable market inputs, the remaining deferred amount is recognized in profit or loss.

Changes in deferred day one gains or losses for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Balance at the beginning of the year | W | 12141 | W | 23430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New transactions |  | 78864 |  | 49078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes during the year |  | (58271) |  | (60367) |
|  Balance at the end of the year | W | 32734 | W | 12141 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.3 Carrying Amount of Financial Instruments by Category

Financial assets and liabilities are measured at fair value or amortized cost. Carrying amount of financial assets and liabilities by category as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Financial<br>instruments at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments at<br>fair value<br>through other<br>comprehensive<br>income** | **Financial<br>instruments at<br>fair value<br>through other<br>comprehensive<br>income** | **Financial<br>instruments<br>designated at<br>fair value<br>through other<br>comprehensive<br>income** | **Financial<br>instruments<br>designated at<br>fair value<br>through other<br>comprehensive<br>income** | **Financial<br>instruments at<br>amortized cost** | **Financial<br>instruments at<br>amortized cost** | **Derivatives<br>held for<br>hedging** | **Derivatives<br>held for<br>hedging** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions | W |  | W |  | W |  | W | 34776877 | W |  | W | 34776877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss |  | 89862530 |  |  |  |  |  |  |  |  |  | 89862530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial assets |  | 7748371 |  |  |  |  |  |  |  | 429685 |  | 8178056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  |  |  |  |  |  |  | 491978044 |  |  |  | 491978044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial investments |  |  |  | 95307502 |  | 4611983 |  | 35067192 |  |  |  | 134986677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets |  |  |  |  |  |  |  | 19069696 |  |  |  | 19069696 |
|  | W | 97610901 | W | 95307502 | W | 4611983 | W | 580891809 | W | 429685 | W | 778851880 |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Financial<br>instruments at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments<br>designated at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments<br>designated at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments at<br>amortized cost** | **Financial<br>instruments at<br>amortized cost** | **Derivatives<br>held for<br>hedging** | **Derivatives<br>held for<br>hedging** | **Total** | **Total** |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss | W | 3339572 |  | \7,981,018 | W |  | W |  | W | 11320590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial liabilities |  | 7687305 |  |  |  |  |  | 546984 |  | 8234289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits |  |  |  |  |  | 462397026 |  |  |  | 462397026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings |  |  |  |  |  | 70728396 |  |  |  | 70728396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  |  |  |  |  | 80049270 |  |  |  | 80049270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities\* |  |  |  |  |  | 40469257 |  |  |  | 40469257 |
|  | W | 11026877 | W | 7981018 | W | 653643949 | W | 546984 | W | 673198828 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.3 Carrying Amount of Financial Instruments by Category (cont'd)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Financial<br>instruments at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments at<br>fair value<br>through other<br>comprehensive<br>income** | **Financial<br>instruments at<br>fair value<br>through other<br>comprehensive<br>income** | **Financial<br>instruments<br>designated at<br>fair value<br>through other<br>comprehensive<br>income** | **Financial<br>instruments<br>designated at<br>fair value<br>through other<br>comprehensive<br>income** | **Financial<br>instruments at<br>amortized cost** | **Financial<br>instruments at<br>amortized cost** | **Derivatives<br>held for<br>hedging** | **Derivatives<br>held for<br>hedging** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions | W |  | W |  | W |  | W | 29869111 | W |  | W | 29869111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss |  | 79450093 |  |  |  |  |  |  |  |  |  | 79450093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial assets |  | 10954870 |  |  |  |  |  |  |  | 775897 |  | 11730767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  |  |  |  |  |  |  | 472071840 |  |  |  | 472071840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial investments |  |  |  | 90182623 |  | 3713289 |  | 37113552 |  |  |  | 131009464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets |  |  |  |  |  |  |  | 14404227 |  |  |  | 14404227 |
|  | W | 90404963 | W | 90182623 | W | 3713289 | W | 553458730 | W | 775897 | W | 738535502 |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Financial<br>instruments at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments<br>designated at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments<br>designated at<br>fair value<br>through profit<br>or loss** | **Financial<br>instruments at<br>amortized cost** | **Financial<br>instruments at<br>amortized cost** | **Derivatives held<br>for hedging** | **Derivatives held<br>for hedging** | **Total** | **Total** |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss | W | 2717732 | W | 8002499 | W |  | W |  | W | 10720231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial liabilities |  | 11409695 |  |  |  |  |  | 373799 |  | 11783494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits |  |  |  |  |  | 435687897 |  |  |  | 435687897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings |  |  |  |  |  | 68077012 |  |  |  | 68077012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  |  |  |  |  | 76171257 |  |  |  | 76171257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities\* |  |  |  |  |  | 33594883 |  |  |  | 33594883 |
|  | W | 14127427 | W | 8002499 | W | 613531049 | W | 373799 | W | 636034774 |

---

\* Other financial liabilities include lease liabilities that are not included in the category of financial instruments measured at amortized cost.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.4 Transfer of Financial Assets

6.4.1 Transferred financial assets that are derecognized in their entirety

The Group transferred loans and other financial assets to companies specialized in asset-backed securitization and derecognized them from the consolidated financial statement, while the maximum exposure to loss (carrying amount) from its continuing involvement and fair value of its continuing involvement of the derecognized financial assets as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Type of continuing<br>involvement** | **Classification of<br>financial<br>instruments** | **Carrying amount<br>of continuing<br>involvement** | **Carrying amount<br>of continuing<br>involvement** | **Fair value of<br>continuing<br>involvement** | **Fair value of<br>continuing<br>involvement** |
|  Discovery 2<sup>nd</sup> Securitization Specialty Co., Ltd. | Subordinated bond | Financial assets at fair value through profit or loss | W | 564 | W | 564 |
|  AP 4D ABS Ltd. | Subordinated bond | Financial assets at fair value through profit or loss |  | 36 |  | 36 |
|  |  |  | W | 600 | W | 600 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Type of<br>continuing<br>involvement** | **Classification of<br>financial instruments** | **Carrying amount<br>of continuing<br>involvement** | **Carrying amount<br>of continuing<br>involvement** | **Fair value of<br>continuing<br>involvement** | **Fair value of<br>continuing<br>involvement** |
|  Discovery 2<sup>nd</sup> Securitization Specialty Co., Ltd. | Subordinated bond | Financial assets at fair value through profit or loss | W | 564 | W | 564 |
|  AP 4D ABS Ltd. | Subordinated bond | Financial assets at fair value through profit or loss |  | 39 |  | 39 |
|  |  |  | W | 603 | W | 603 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.4.2 Transferred financial assets that are not derecognized in their entirety

The Group issued securitized debentures using loans as underlying assets. Details of underlying assets and senior debentures in relation to securitization as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Carrying<br>amount of<br>underlying<br>assets** | **Carrying<br>amount of<br>underlying<br>assets** | **Fair value of<br>underlying<br>assets** | **Fair value of<br>underlying<br>assets** | **Carrying<br>amount of<br>senior<br>debentures** | **Carrying<br>amount of<br>senior<br>debentures** | **Fair value of<br>senior<br>debentures** | **Fair value of<br>senior<br>debentures** |
|  KB Kookmin Card 9<sup>th</sup> Securitization Co., Ltd. <sup>1</sup>  | W | 498031 | W | 495938 | W | 249898 | W | 247071 |
|  KB Kookmin Card 10<sup>th</sup> Securitization Co., Ltd. <sup>1</sup>  |  | 832813 |  | 829069 |  | 286754 |  | 286743 |
|  KB Kookmin Card 11<sup>th</sup> Securitization Co., Ltd. <sup>1</sup> |  | 636665 |  | 633826 |  | 399976 |  | 397641 |
|  KB Kookmin Card 12<sup>th</sup> Securitization Co., Ltd. <sup>1</sup>  |  | 1124943 |  | 1119857 |  | 716236 |  | 713045 |
|  KB Kookmin Card 13<sup>th</sup> Securitization Co., Ltd. <sup>1</sup> |  | 875541 |  | 871600 |  | 573473 |  | 568123 |
|  KB Kookmin Card 14<sup>th</sup> Securitization Co., Ltd. <sup>1</sup> |  | 1170261 |  | 1165362 |  | 571787 |  | 552528 |
|  KB Auto Fifth Asset Securitization Specialty Co., Ltd. <sup>2</sup> |  | 170183 |  | 169608 |  | 132256 |  | 135500 |
|  | W5,308,437 | W5,308,437 | W5,285,260 | W5,285,260 | W2,930,380 | W2,930,380 | W2,900,651 | W2,900,651 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Carrying<br>amount of<br>underlying<br>assets** | **Carrying<br>amount of<br>underlying<br>assets** | **Fair value of<br>underlying<br>assets** | **Fair value of<br>underlying<br>assets** | **Carrying<br>amount of<br>senior<br>debentures** | **Carrying<br>amount of<br>senior<br>debentures** | **Fair value of<br>senior<br>debentures** | **Fair value of<br>senior<br>debentures** |
|  KB Kookmin Card 8<sup>th</sup> Securitization Co., Ltd. <sup>1</sup>  | W | 472066 | W | 469890 | W | 99987 | W | 99614 |
|  KB Kookmin Card 9<sup>th</sup> Securitization Co., Ltd. <sup>1</sup>  |  | 524464 |  | 521961 |  | 249894 |  | 240491 |
|  KB Kookmin Card 10<sup>th</sup> Securitization Co., Ltd. <sup>1</sup> |  | 882641 |  | 878117 |  | 586517 |  | 579432 |
|  KB Kookmin Card 11<sup>th</sup> Securitization Co., Ltd. <sup>1</sup>  |  | 677194 |  | 673664 |  | 399932 |  | 390463 |
|  KB Kookmin Card 12<sup>th</sup> Securitization Co., Ltd. <sup>1</sup> |  | 1196421 |  | 1190160 |  | 732558 |  | 719230 |
|  KB Kookmin Card 13<sup>th</sup> Securitization Co., Ltd. <sup>1</sup> |  | 935938 |  | 931006 |  | 586980 |  | 570700 |
|  KB Auto Fifth Asset Securitization Specialty Co., Ltd. <sup>2</sup>  |  | 383856 |  | 381391 |  | 209594 |  | 217115 |
|  | W | 5072580 | W | 5046189 | W | 2865462 | W | 2817045 |

---

<sup>1</sup> The Group has an obligation to early redeem the securitized debentures in the event of situations prescribed by the asset securitization contract, such as the remaining balance of the eligible underlying assets in trust-type asset securitization is below the solvency ratio (minimum ratio: 104.5%) of the beneficiary interest in the trust. To avoid such early redemption, the Group entrusts credit card accounts and deposits in addition to the previously entrusted credit card accounts. 

<sup>2</sup> The Group has an obligation to early redeem the securitized debentures in the event of situations prescribed by the asset securitization contract, such as when the trusted assets do not meet the eligibility requirements.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.4.3 Bonds sold under repurchase agreements and loaned securities

The Group continues to recognize the financial assets related to bonds sold under repurchase agreements and securities lending transactions in the consolidated statement of financial position since those transactions are not qualified for derecognition even though the Group transfers the financial assets. Bonds sold under repurchase agreements are sold on the condition that they will be repurchased at a fixed price and loaned securities will be returned at the expiration of the loan period. Thus, the Group retains substantially all the risks and rewards of ownership of the financial assets.

The carrying amount of transferred assets and related liabilities as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Carrying amount of<br>transferred assets** | **Carrying amount of<br>transferred assets** | **Carrying amount of<br>related liabilities** | **Carrying amount of<br>related liabilities** |
|  Bonds sold under repurchase agreements | W | 9678686 | W | 9400196 |
|  Loaned securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and public bonds |  | 11958428 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock |  | 632 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  |  |  |  |
|  | W | 21637746 | W | 9400196 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Carrying amount of<br>transferred assets** | **Carrying amount of<br>transferred assets** | **Carrying amount of<br>related liabilities** | **Carrying amount of<br>related liabilities** |
|  Bonds sold under repurchase agreements | W | 9520281 | W | 9287665 |
|  Loaned securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and public bonds |  | 3854697 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock |  | 6046 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 75293 |  |  |
|  | W | 13456317 | W | 9287665 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.4.4 Securitization of Financial Assets

The structured entities subject to consolidation have issued asset-backed securities using the loans and other receivables held by the Group as securitized assets. As a result of these securitization transactions, the contractual cash flows of the securitized assets are transferred to the holders of the asset-backed securities. The Group, in relation to the transfer of financial assets for securitization, bears the contractual obligation to pay the cash flows to one or more recipients, such as repurchase agreements, for all transferred financial assets that exist but have not been derecognized as of the reporting date.

Details of carrying amounts of the underlying assets and the associated liabilities related to securitization transactions as of December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won***)** | *(In millions of Korean won***)** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Underlying assets | Financial assets at fair value through profit or loss | W | 319913 | W | 93804 |
|  | Loans measured at amortized cost \* |  | 2605512 |  | 3007341 |
|  |  | W | 2925425 | W | 3101145 |
|  Associated liabilities | Debentures | W | 2850790 | W | 3149021 |

---

\* Before netting of allowance

6.5 Offsetting Financial Assets and Financial Liabilities

The Group enters into International Swaps and Derivatives Association ("ISDA") master netting agreements and other similar arrangements with the Group's OTC derivative and spot exchange counterparties. Similar netting agreements are also entered into with the Group's (a) sales or purchases of bonds under repurchase agreements and (b) securities lending and borrowing transactions, etc. Pursuant to these agreements, in the event of default by one party, contracts are to be terminated and receivables and payables are to be offset. Domestic exchange settlement debits and domestic exchange settlement credits are recognized in its net settlement balance in the consolidated statement of financial position because the Group has the legal right of offset and settles in net amount.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.5.1 Details of financial assets subject to enforceable master netting agreements or similar arrangements as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Gross assets** | **Gross assets** | **Gross liabilities<br>offset** | **Gross liabilities<br>offset** | **Net amount in<br>the statement<br>of financial<br>position** | **Net amount in<br>the statement<br>of financial<br>position** | **Non-offsetting amount** | **Non-offsetting amount** | **Non-offsetting amount** | **Non-offsetting amount** | **Net amount** | **Net amount** |
|  | **Gross assets** | **Gross assets** | **Gross liabilities<br>offset** | **Gross liabilities<br>offset** | **Net amount in<br>the statement<br>of financial<br>position** | **Net amount in<br>the statement<br>of financial<br>position** | **Financial<br>instruments** | **Financial<br>instruments** | **Cash<br>collateral** | **Cash<br>collateral** | **Net amount** | **Net amount** |
|  Derivatives held for trading and<br>derivative-linked securities | W | 7988214 | W |  | W | 7988214 |  |  |  |  |  |  |
|  Derivatives held for hedging |  | 429685 |  |  |  | 429685 | W | (4801687) | W | (177871) | W | 3438341 |
|  Unsettled spot exchange receivable |  | 6887996 |  |  |  | 6887996 |  | (6778593) |  |  |  | 109403 |
|  Bonds purchased under repurchase agreements |  | 10175247 |  |  |  | 10175247 |  | (10175247) |  |  |  |  |
|  Domestic exchange settlement debits |  | 73785133 |  | (72456156) |  | 1328977 |  | (768) |  |  |  | 1328209 |
|  Other financial instruments |  | 4936397 |  | (4350832) |  | 585565 |  |  |  |  |  | 585565 |
|  | W | 104202672 | W | (76806988) | W | 27395684 | W | (21756295) | W | (177871) | W | 5461518 |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Gross assets** | **Gross assets** | **Gross liabilities<br>offset** | **Gross liabilities<br>offset** | **Net amount in<br>the statement<br>of financial<br>position** | **Net amount in<br>the statement<br>of financial<br>position** | **Non-offsetting amount** | **Non-offsetting amount** | **Non-offsetting amount** | **Non-offsetting amount** | **Net amount** | **Net amount** |
|  | **Gross assets** | **Gross assets** | **Gross liabilities<br>offset** | **Gross liabilities<br>offset** | **Net amount in<br>the statement<br>of financial<br>position** | **Net amount in<br>the statement<br>of financial<br>position** | **Financial<br>instruments** | **Financial<br>instruments** | **Cash<br>collateral** | **Cash<br>collateral** | **Net amount** | **Net amount** |
|  Derivatives held for trading and derivative-linked securities | W | 11227882 | W |  | W | 11227882 |  |  |  |  |  |  |
|  Derivatives held for hedging |  | 775897 |  |  |  | 775897 | W | (6621613) | W | (195584) | W | 5186582 |
|  Unsettled spot exchange receivable |  | 6287655 |  |  |  | 6287655 |  | (6213292) |  |  |  | 74363 |
|  Bonds purchased under repurchase agreements |  | 5405878 |  |  |  | 5405878 |  | (4910653) |  |  |  | 495225 |
|  Securities borrowing agreements |  | 75293 |  |  |  | 75293 |  | (75293) |  |  |  |  |
|  Domestic exchange settlement debits |  | 63055082 |  | (62577496) |  | 477586 |  | (3315) |  |  |  | 474271 |
|  Other financial instruments |  | 1719547 |  | (1687731) |  | 31816 |  |  |  |  |  | 31816 |
|  | W | 88547234 | W | (64265227) | W | 24282007 | W | (17824166) | W | (195584) | W | 6262257 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

6.5.2 Details of financial liabilities subject to enforceable master netting agreements or similar arrangements as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Gross liabilities** | **Gross liabilities** | **Gross**<br>**assets offset** | **Gross**<br>**assets offset** | **Net amount in<br>the statement**<br>**of financial<br>position** | **Net amount in<br>the statement**<br>**of financial<br>position** | **Non-offsetting amount** | **Non-offsetting amount** | **Non-offsetting amount** | **Non-offsetting amount** | **Net amount** | **Net amount** |
|  | **Gross liabilities** | **Gross liabilities** | **Gross**<br>**assets offset** | **Gross**<br>**assets offset** | **Net amount in<br>the statement**<br>**of financial<br>position** | **Net amount in<br>the statement**<br>**of financial<br>position** | **Financial<br>instruments** | **Financial<br>instruments** | **Cash<br>collateral** | **Cash<br>collateral** | **Net amount** | **Net amount** |
|  Derivatives held for trading and derivative-linked securities | W | 8896951 | W |  | W | 8896951 |  |  |  |  |  |  |
|  Derivatives held for hedging |  | 546985 |  |  |  | 546985 | W | (7752738) | W | (66028) | W | 1625170 |
|  Unsettled spot exchange payable |  | 6893312 |  |  |  | 6893312 |  | (6731054) |  |  |  | 162258 |
|  Bonds sold under repurchase agreements \* |  | 13425697 |  |  |  | 13425697 |  | (13425697) |  |  |  |  |
|  Securities borrowing agreements |  | 2923691 |  |  |  | 2923691 |  | (2915160) |  |  |  | 8531 |
|  Domestic exchange settlement credits |  | 72554289 |  | (72456156) |  | 98133 |  | (94681) |  |  |  | 3452 |
|  Other financial instruments |  | 4539658 |  | (4350832) |  | 188826 |  |  |  |  |  | 188826 |
|  | W | 109780583 | W | (76806988) | W | 32973595 | W | (30919330) | W | (66028) | W | 1988237 |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Gross liabilities** | **Gross liabilities** | **Gross**<br>**assets offset** | **Gross**<br>**assets offset** | **Net amount in<br>the statement**<br>**of financial<br>position** | **Net amount in<br>the statement**<br>**of financial<br>position** | **Non-offsetting amount** | **Non-offsetting amount** | **Non-offsetting amount** | **Non-offsetting amount** | **Net amount** | **Net amount** |
|  | **Gross liabilities** | **Gross liabilities** | **Gross**<br>**assets offset** | **Gross**<br>**assets offset** | **Net amount in<br>the statement**<br>**of financial<br>position** | **Net amount in<br>the statement**<br>**of financial<br>position** | **Financial<br>instruments** | **Financial<br>instruments** | **Cash<br>collateral** | **Cash<br>collateral** | **Net amount** | **Net amount** |
|  Derivatives held for trading and derivative-linked securities | W | 12543672 | W |  | W | 12543672 | W | (10689585) | W | (76853) | W | 2151033 |
|  Derivatives held for hedging |  | 373799 |  |  |  | 373799 |  |  |  |  |  |  |
|  Unsettled spot exchange payable |  | 6289630 |  |  |  | 6289630 |  | (6213292) |  |  |  | 76338 |
|  Bonds sold under repurchase agreements \* |  | 12794534 |  |  |  | 12794534 |  | (12794534) |  |  |  |  |
|  Securities borrowing agreements |  | 2558520 |  |  |  | 2558520 |  | (2558520) |  |  |  |  |
|  Domestic exchange settlement credits |  | 62872822 |  | (62577496) |  | 295326 |  | (292699) |  |  |  | 2627 |
|  Other financial instruments |  | 1784437 |  | (1687731) |  | 96706 |  |  |  |  |  | 96706 |
|  | W | 99217414 | W | (64265227) | W | 34952187 | W | (32548630) | W | (76853) | W | 2326704 |

---

\* Includes bonds sold under repurchase agreements to customers.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**7. Due from Financial Institutions Measured at Amortized Cost** 

7.1 Details of due from financial institutions as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **Financial**<br> **institutions** | **Interest rate (%)**<br>**as of**<br>**December 31,<br>2025** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Due from financial institutions in Korean won | Due from the Bank of Korea | The Bank of Korea |  | W | 13939438 | W | 11635481 |
|  | Due from banks | KEB Hana Bank and others | 0.00 ~ 4.16 |  | 4141440 |  | 3342114 |
|  | Due from others | Korea Securities Finance Corporation and others | 0.00 ~ 3.33 |  | 1696282 |  | 1473585 |
|  |  |  |  |  | 19777160 |  | 16451180 |
|  Due from financial institutions in foreign currencies | Due from banks in foreign currencies | The Bank of Korea and others | 0.00 ~ 4.75 |  | 9115862 |  | 7767797 |
|  | Time deposits in foreign currencies | Industrial and Commercial Bank of China and others | 0.00 ~ 6.75 |  | 405700 |  | 634903 |
|  | Due from others | Yuanta Bank(Taiwan) and others | 0.00 ~ 6.70 |  | 3270336 |  | 2937813 |
|  |  |  |  |  | 12791898 |  | 11340513 |
|  |  |  |  | W | 32569058 | W | 27791693 |

---

\* Before netting of allowance

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

7.2 Details of restricted due from financial institutions as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **Financial**<br> **institutions** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** | **Reasons of restriction** |
|  Due from financial institutions in Korean won | Due from the Bank of Korea | The Bank of Korea | W | 13939438 | W | 11635481 | Bank of Korea Act |
|  | Due from banks | KEB Hana Bank and others |  | 130640 |  | 106500 | Pledges and others |
|  | Due from others | Korea Securities Finance Corporation and others |  | 1630914 |  | 1254615 | Derivatives margin account and others |
|  |  |  |  | 15700992 |  | 12996596 |  |
|  Due from financial institutions in foreign currencies | Due from banks in foreign currencies | The Bank of Korea and others |  | 3392616 |  | 2736871 | Bank of Korea Act and others |
|  | Time deposits in foreign currencies | Industrial and Commercial Bank of China and others |  | 81983 |  | 98264 | Bank Act of the State of New York and others |
|  | Due from others | Yuanta Bank (Taiwan) and others |  | 3002267 |  | 2709177 | Derivatives margin account and others |
|  |  |  |  | 6476866 |  | 5544312 |  |
|  |  |  | W | 22177858 | W | 18540908 |  |

---

\* Before netting of allowance.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

7.3 Changes in allowances for credit losses of due from financial institutions for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** |
|  | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Lifetime expected credit<br>losses** | **Lifetime expected credit<br>losses** |
|  | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Non-impaired** | **Impaired** |
|  Beginning | W | 1572 | W | W |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between stages: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to 12-month expected credit losses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) of credit losses |  | (172) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Business Combination |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | (50) |  |  |
|  Ending | W | 1350 | W | W |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** |
|  | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Lifetime expected credit<br>losses** | **Lifetime expected credit<br>losses** |
|  | **12-month<br>expected credit<br>losses** | **12-month<br>expected credit<br>losses** | **Non-impaired** | **Impaired** |
|  Beginning | W | 1021 | W | W |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between stages: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to 12-month expected credit losses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) of credit losses |  | 472 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Business Combination |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 79 |  |  |
|  Ending | W | 1572 | W | W |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**8. Assets Pledged as Collateral** 

8.1 Details of assets pledged as collateral as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Assets pledged** | **Pledgee** | **Carrying<br>amount** | **Carrying<br>amount** | **Reasons of pledge** |
|  Due from financial institutions | KEB Hana Bank and others | W | 839641 | Performance guarantee for loan transactions |
|  Financial assets at fair value through profit or loss | The Korea Securities Depository and others |  | 4227877 | Repurchase agreements |
|  | The Korea Securities Depository and others |  | 11148996 | Securities borrowing transactions |
|  | The Bank of Korea |  | 3314236 | Borrowings from the Bank of Korea |
|  | Korea Exchange ("KRX") and others |  | 1775290 | Derivatives transactions |
|  | Others |  | 6531 | Others |
|  |  |  | 20472930 |  |
|  Financial assets at fair value through other comprehensive income | The Korea Securities Depository and others |  | 4310743 | Repurchase agreements |
|  | The Korea Securities Depository and others |  | 4041764 | Securities borrowing transactions |
|  | The Bank of Korea |  | 2045260 | Borrowings from the Bank of Korea |
|  | The Bank of Korea |  | 975999 | Settlement risk of the Bank of Korea |
|  | The Korea Securities Depository and others |  | 2774232 | Derivatives transactions |
|  | Mitsui Sumitomo Bank, Seoul Branch and others |  | 586089 | Others |
|  |  |  | 14734087 |  |
|  Securities measured at amortized cost | The Bank of Korea and others |  | 1140066 | Repurchase agreements |
|  | The Bank of Korea |  | 2440585 | Borrowings from the Bank of Korea |
|  | The Bank of Korea |  | 7625707 | Settlement risk of the Bank of Korea |
|  | Samsung Futures Inc. and others |  | 488326 | Derivatives transactions |
|  | The Bank of Korea and others |  | 660079 | Others |
|  |  |  | 12354763 |  |
|  Loans | Others |  | 12250820 | Covered bond and others |
|  Real estate | Shinhan Bank and others |  | 1009578 | Borrowings from bank and others |
|  |  | W | 61661819 |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

8.1 Details of assets pledged as collateral as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| **Assets pledged** | **Pledgee** | **Carrying**<br>**amount** | **Carrying**<br>**amount** | **Reasons of pledge** |
|  Due from financial institutions | KEB Hana Bank and others | W | 651988 | Performance guarantee for loan transactions |
|  Financial assets at fair value through profit or loss | The Korea Securities Depository and others |  | 4366425 | Repurchase agreements |
|  | The Korea Securities Depository and others |  | 9908291 | Securities borrowing transactions |
|  | Samsung Futures Inc. and others |  | 1644059 | Derivatives transactions |
|  |  |  | 15918775 |  |
|  Financial assets at fair value through other comprehensive income | The Bank of Korea and others |  | 4058186 | Repurchase agreements |
|  | The Korea Securities Depository and others |  | 2510368 | Securities borrowing transactions |
|  | The Bank of Korea |  | 2237952 | Borrowings from the Bank of Korea |
|  | The Bank of Korea |  | 994678 | Settlement risk of the Bank of Korea |
|  | Samsung Futures Inc. and others |  | 2511706 | Derivatives transactions |
|  | Others |  | 662227 | Others |
|  |  |  | 12975117 |  |
|  Securities measured at amortized cost | The Bank of Korea and others |  | 1031256 | Repurchase agreements |
|  | The Bank of Korea |  | 2802901 | Borrowings from the Bank of Korea |
|  | The Bank of Korea |  | 7627587 | Settlement risk of the Bank of Korea |
|  | Samsung Futures Inc. and others |  | 1065109 | Derivatives transactions |
|  | The Bank of Korea and others |  | 818270 | Others |
|  |  |  | 13345123 |  |
|  Loans | Others |  | 14572142 | Covered bond and others |
|  Real estate | Hanwha Life Insurance Co., Ltd. and others |  | 1223346 | Borrowings from bank and others |
|  |  | W | 58686491 |  |

---

In addition, the Group provided W 10,485,363 million and 8,027,229 million of debt securities among its borrowed securities and other assets held as collateral to Korea Securities Finance Corporation and others as collateral as of December 31, 2025 and 2024, respectively.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

8.2 Fair value of collateral available to sell or repledge, and collateral sold or repledged, regardless of debtor's default as of December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value of**<br>**collateral held** | **Fair value of**<br>**collateral held** | **Fair value of collateral<br>sold or repledged** | **Total** | **Total** |
|  Securities | W | 10723045 | W | W | 10723045 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value of**<br>**collateral held** | **Fair value of**<br>**collateral held** | **Fair value of collateral<br>sold or repledged** | **Total** | **Total** |
|  Securities | W | 4933491 | W | W | 4933491 |

---

**9. Derivative Financial Instruments and Hedge Accounting** 

The Group's derivative operations focus on addressing the needs of the Group's corporate clients to hedge their risk exposure and hedging the Group's risk exposure that results from such client contracts. The Group also engages in derivative trading activities to hedge the interest rate risk and currency risk arising from the Group's own assets and liabilities. In addition, the Group engages in proprietary trading of derivatives within the predetermined transaction limit.

The Group provides and trades a range of derivative financial instruments, including:

• Interest rate swaps relating to interest rate risk in Korean won

• Cross-currency swaps, forwards, and options relating to currency risk

• Stock index options linked with the Korea Composite Stock Price Index ("KOSPI")

In particular, the Group applies fair value hedge accounting using interest rate swaps, currency forwards, and others to hedge the risk of changes in fair value due to the changes in interest rate and foreign exchange rate of structured debentures in Korean won, debentures in foreign currencies, structured deposits in foreign currencies, and others. The Group applies cash flow hedge accounting using interest rate swaps, currency swaps, and others to hedge the risk of changes in cash flows of floating rate debt securities in Korean won, borrowings in foreign currencies, group of loans measured at amortized cost, and others. In addition, the Group applies net investments in foreign operations hedge accounting by designating debentures in foreign currencies and cross currency forwards as hedging instruments to hedge the currency risk of net investments in foreign operations.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

9.1 Details of derivative financial instruments held for trading as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Notional**<br>**amount** | **Notional**<br>**amount** | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Notional**<br>**amount** | **Notional**<br>**amount** | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
|  **Interest rate** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forwards | W | 24101504 | W | 963680 | W | 629846 | W | 18253487 | W | 577037 | W | 736622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures\* |  | 5703719 |  | 458 |  | 1340 |  | 6388783 |  | 1178 |  | 5407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 266475478 |  | 447025 |  | 632389 |  | 334595285 |  | 405611 |  | 552316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options |  | 6376000 |  | 185054 |  | 149207 |  | 7108100 |  | 152220 |  | 146648 |
|  |  | 302656701 |  | 1596217 |  | 1412782 |  | 366345655 |  | 1136046 |  | 1440993 |
|  **Currency** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forwards |  | 137979537 |  | 3320819 |  | 1774894 |  | 136815645 |  | 5848876 |  | 3326427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures\* |  | 825744 |  | 728 |  | 20 |  | 723795 |  | 1694 |  | 234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 70367044 |  | 2316840 |  | 3679947 |  | 82498194 |  | 3587141 |  | 5960622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options |  | 1741288 |  | 10700 |  | 11361 |  | 1999773 |  | 23808 |  | 25374 |
|  |  | 210913613 |  | 5649087 |  | 5466222 |  | 222037407 |  | 9461519 |  | 9312657 |
|  **Stock and index** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures\* |  | 3577413 |  | 396 |  | 6881 |  | 2151606 |  | 3260 |  | 7963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 6129959 |  | 237117 |  | 380095 |  | 4963174 |  | 278278 |  | 156825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options |  | 2518452 |  | 209753 |  | 162989 |  | 2641003 |  | 15331 |  | 171368 |
|  |  | 12225824 |  | 447266 |  | 549965 |  | 9755783 |  | 296869 |  | 336156 |
|  **Credit** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 5265645 |  | 35971 |  | 26470 |  | 4797110 |  | 37123 |  | 27397 |
|  |  | 5265645 |  | 35971 |  | 26470 |  | 4797110 |  | 37123 |  | 27397 |
|  **Commodity** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures\* |  | 81631 |  | 1056 |  | 1949 |  | 42764 |  | 1191 |  | 1012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 568778 |  | 10572 |  | 10185 |  | 1297183 |  | 12390 |  | 11781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options |  | 101737 |  | 3072 |  | 3109 |  | 292290 |  | 3018 |  | 3130 |
|  |  | 752146 |  | 14700 |  | 15243 |  | 1632237 |  | 16599 |  | 15923 |
|  **Others** |  | 824241 |  | 5130 |  | 216623 |  | 891012 |  | 6715 |  | 276569 |
|  | W | 532638170 | W | 7748371 | W | 7687305 | W | 605459204 | W | 10954871 | W | 11409695 |

---

\* Gains or losses arising from some daily mark-to-market futures are reflected in the margin accounts.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

9.2 Average price conditions of future nominal cash flows by type of hedge accounting as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **1 year** | **1 year** | **2 years** | **2 years** | **3 years** | **3 years** | **4 years** | **4 years** | **5 years** | **5 years** | **Over**<br>**5 years** | **Over**<br>**5 years** | **Total** | **Total** |
|  **Fair value hedge** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nominal amount of the hedging instrument | W | 5146871 | W | 402995 | W | 94321 | W | 880581 | W | 1531878 | W | 570923 | W | 8627569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (%) |  | 3.67 |  | 4.31 |  | 4.85 |  | 5.92 |  | 2.96 |  | 3.73 |  | 3.86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (USD/KRW) |  | 1362.39 |  | 1356.40 |  |  |  |  |  |  |  |  |  | 1362.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (EUR/KRW) |  | 1556.92 |  | 1481.21 |  |  |  |  |  |  |  |  |  | 1541.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (AUD/KRW) |  | 911.05 |  |  |  |  |  |  |  |  |  |  |  | 911.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (GBP/KRW) |  | 1862.01 |  |  |  |  |  |  |  |  |  |  |  | 1862.01 |
|  **Cash flow hedge** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nominal amount of the hedging instrument | W | 3715273 | W | 3779416 | W | 3059931 | W | 1172452 | W | 578761 | W |  | W | 12305833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (%) |  | 3.46 |  | 4.37 |  | 3.96 |  | 3.47 |  |  |  |  |  | 3.94 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (USD/KRW) |  | 1264.42 |  | 1433.62 |  | 1344.27 |  | 1353.74 |  | 1411.82 |  |  |  | 1351.96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (EUR/KRW) |  | 1501.00 |  | 1560.67 |  | 1505.50 |  |  |  |  |  |  |  | 1526.90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (AUD/KRW) |  | 896.73 |  | 932.6 |  |  |  |  |  |  |  |  |  | 905.35 |
|  **Hedge of net investments in foreign operations** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nominal amount of the hedging instrument | W | 242498 | W |  | W |  | W |  | W |  | W |  | W | 242498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (USD/KRW) |  | 1173.81 |  |  |  |  |  |  |  |  |  |  |  | 1173.81 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

9.2 Average price conditions of future nominal cash flows by type of hedge accounting as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **1 year** | **1 year** | **2 years** | **2 years** | **3 years** | **3 years** | **4 years** | **4 years** | **5 years** | **5 years** | **Over**<br>**5 years** | **Over**<br>**5 years** | **Total** | **Total** |
|  **Fair value hedge** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nominal amount of the hedging instrument | W | 5071561 | W | 1674709 | W | 444487 | W | 189448 | W | 941835 | W | 1998080 | W | 10320120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (%) |  | 4.58 |  | 4.65 |  | 4.71 |  | 5.74 |  | 6.69 |  | 3.81 |  | 4.68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (USD/KRW) |  | 1341.52 |  | 1298.73 |  | 1276.69 |  |  |  |  |  |  |  | 1325.95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (EUR/KRW) |  | 1464.04 |  | 1469.25 |  | 1447.53 |  |  |  |  |  |  |  | 1464.60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (AUD/KRW) |  | 891.13 |  | 885.60 |  |  |  |  |  |  |  |  |  | 890.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (GBP/KRW) |  | 1539.22 |  |  |  |  |  |  |  |  |  |  |  | 1539.22 |
|  **Cash flow hedge** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nominal amount of the hedging instrument | W | 2385743 | W | 3059818 | W | 2779439 | W | 981453 | W | 545140 | W |  | W | 9751593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (%) |  | 3.05 |  | 4.14 |  | 4.98 |  | 4.91 |  | 3.71 |  |  |  | 4.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (USD/KRW) |  | 1228.80 |  | 1250.67 |  | 1331.02 |  | 1254.81 |  | 1373.85 |  |  |  | 1282.82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (EUR/KRW) |  | 1374.73 |  | 1501.00 |  |  |  | 1392.00 |  |  |  |  |  | 1423.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (AUD/KRW) |  | 851.50 |  | 889.00 |  | 932.60 |  |  |  |  |  |  |  | 885.25 |
|  **Hedge of net investments in foreign operations** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nominal amount of the hedging instrument | W | 15876 | W | 236670 | W |  | W |  | W |  | W |  | W | 252546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Average price condition (USD/KRW) |  | 1071.00 |  | 1178.91 |  |  |  |  |  |  |  |  |  | 1172.13 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

9.3 Fair Value Hedge

9.3.1 Details of fair value hedged items as of December 31, 2025 and 2024 and changes in fair value for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **2025** | **2025** |
|  |  | **Carrying amount** | **Carrying amount** | **Carrying amount** | **Carrying amount** | **Accumulated amount of<br>hedge adjustments** | **Accumulated amount of<br>hedge adjustments** | **Accumulated amount of<br>hedge adjustments** | **Accumulated amount of<br>hedge adjustments** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** |
|  **Hedge accounting** | **Hedge accounting** |  |  |  |  |  |  |  |  |  |  |
|  **Interest rate** | Debt securities in Korean won | W | 1516538 | W |  | W | (5529) | W |  | W | (13622) |
|  | Debt securities in foreign currencies |  | 1285924 |  |  |  | (628) |  |  |  | 39119 |
|  | Deposits in Korean won |  |  |  | 196865 |  |  |  | 6865 |  | (3624) |
|  | Deposits in foreign currencies |  |  |  | 1044993 |  |  |  | (1334) |  | (6254) |
|  | Debentures in Korean won |  |  |  | 1342625 |  |  |  | (117375) |  | 8310 |
|  | Debentures in foreign currencies |  |  |  | 809157 |  |  |  | (23085) |  | (29794) |
|  |  |  | 2802462 |  | 3393640 |  | (6157) |  | (134929) |  | (5865) |
|  **Currency** | Debt securities in foreign currencies |  | 1539305 |  |  |  | 365464 |  |  |  | (1292) |
|  |  |  | 1539305 |  |  |  | 365464 |  |  |  | (1292) |
|  |  | W | 4341767 | W | 3393640 | W | 359307 | W | (134929) | W | (7157) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **2024** | **2024** |
|  |  | **Carrying amount** | **Carrying amount** | **Carrying amount** | **Carrying amount** | **Accumulated amount of<br>hedge adjustments** | **Accumulated amount of<br>hedge adjustments** | **Accumulated amount of<br>hedge adjustments** | **Accumulated amount of<br>hedge adjustments** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** |
|  **Hedge accounting** | **Hedge accounting** |  |  |  |  |  |  |  |  |  |  |
|  **Interest rate** | Debt securities in Korean won | W | 2062063 | W |  | W | (15065) | W |  | W | 27699 |
|  | Debt securities in foreign currencies |  | 1699241 |  |  |  | (44081) |  |  |  | 21357 |
|  | Deposits in Korean won |  |  |  | 246258 |  |  |  | 6258 |  | (6272) |
|  | Deposits in foreign currencies |  |  |  | 301107 |  |  |  | (7593) |  | 926 |
|  | Debentures in Korean won |  |  |  | 2320923 |  |  |  | (109077) |  | (35453) |
|  | Debentures in foreign currencies |  |  |  | 1523883 |  |  |  | (63717) |  | (4989) |
|  |  |  | 3761304 |  | 4392171 |  | (59146) |  | (174129) |  | 3268 |
|  **Currency** | Debt securities in foreign currencies |  | 1798273 |  |  |  | 301740 |  |  |  | 217776 |
|  |  |  | 1798273 |  |  |  | 301740 |  |  |  | 217776 |
|  |  | W | 5559577 | W | 4392171 | W | 242594 | W | (174129) | W | 221044 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

9.3.2 Details of derivative instruments designated as fair value hedge as of December 31, 2025 and 2024 and changes in fair value for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **2025** | **2025** |
|  | **Notional amount** | **Notional amount** | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** |
|  **Interest rate** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | W | 1007300 | W |  | W |  | W | 21890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 5336065 |  | 89917 |  | 17610 |  | (16491) |
|  | W | 6343365 | W | 89917 | W | 17610 | W | 5399 |
|  **Currency** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forwards |  | 2284204 |  | 4563 |  | 107590 |  | (66011) |
|  | W | 8627569 | W | 94480 | W | 125200 | W | (60612) |
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **2024** | **2024** |
|  | **Notional amount** | **Notional amount** | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** |
|  **Interest rate** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | W | 720000 | W |  | W |  | W | 1787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 7648200 |  | 84530 |  | 62666 |  | (3658) |
|  | W | 8368200 | W | 84530 | W | 62666 | W | (1871) |
|  **Currency** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forwards |  | 1951920 |  | 62 |  | 119228 |  | (190426) |
|  | W | 10320120 | W | 84592 | W | 181894 | W | (192297) |

---

9.3.3 Details of hedge ineffectiveness recognized in profit or loss on derivative instruments designated as fair value hedge for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Hedge accounting** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest rate | W | (466) | W | 1397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency |  | (67303) |  | 27351 |
|  | W | (67769) | W | 28748 |

---

9.3.4 Gains or losses on fair value hedging instruments and hedged items attributable to the hedged risk for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Gains (losses) on hedging instruments | W | (60612) | W | (192297) |
|  Gains (losses) on hedged items attributable to the hedged risk |  | (14818) |  | 223358 |
|  | W | (75430) | W | 31061 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

9.4 Cash Flow Hedge

9.4.1 Details of cash flow hedged items as of December 31, 2025 and 2024 and changes in fair value for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Cash flow hedge reserve** | **Cash flow hedge reserve** | **Cash flow hedge reserve** | **Cash flow hedge reserve** | **Changes in fair value** | **Changes in fair value** | **Changes in fair value** | **Changes in fair value** |
|  | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** | **2025** | **2025** | **2024** | **2024** |
|  **Hedge accounting** |  |  |  |  |  |  |  |  |
|  Interest rate risk | W | (102432) | W | 160165 | W | 344686 | W | (62558) |
|  Currency risk |  | (55080) |  | (51847) |  | 150381 |  | (154144) |
|  | W | (157512) | W | 108318 | W | 495067 | W | (216702) |

---

9.4.2 Details of derivative instruments designated as cash flow hedge as of December 31, 2025 and 2024 and changes in fair value for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **2025** | **2025** |
|  | **Notional amount** | **Notional amount** | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** |
|  **Interest rate** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forwards | W | 3947019 | W | 37218 | W | 234722 | W | (314412) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 2849228 |  | 25753 |  | 13343 |  | (28878) |
|  | W | 6796247 | W | 62971 | W | 248065 | W | (343290) |
|  **Currency** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 5509586 |  | 272234 |  | 170808 |  | (142175) |
|  | W | 12305833 | W | 335205 | W | 418873 | W | (485465) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **2024** | **2024** |
|  | **Notional amount** | **Notional amount** | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** |
|  **Interest rate** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forwards | W | 1705449 | W | 179580 | W | 8 | W | 75162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 2988310 |  | 48738 |  | 5760 |  | (10122) |
|  | W | 4693759 | W | 228318 | W | 5768 | W | 65040 |
|  **Currency** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swaps |  | 5057834 |  | 462986 |  | 181828 |  | 278039 |
|  | W | 9751593 | W | 691304 | W | 187596 | W | 343079 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

9.4.3 Gains or losses on cash flow hedging instruments and hedged items attributable to the hedged risk for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Gains (losses) on hedging instruments: | W | (485465) | W | 343079 |
|  Effective portion of gains (losses) on cash flow hedging instruments (recognized in other comprehensive income or loss) |  | (488324) |  | 341834 |
|  Ineffective portion of gains (losses) on cash flow hedging instruments (recognized in profit or loss) |  | 2859 |  | 1245 |

---

9.4.4 Amounts recognized in other comprehensive income (loss) and reclassified from equity to profit or loss related to derivative instruments designated as cash flow hedge for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Other comprehensive income (loss) | W | (488324) | W | 341834 |
|  Reclassification to profit or loss |  | 169361 |  | (294592) |
|  Income tax effect |  | 29455 |  | (12501) |
|  | W | (289508) | W | 34741 |

---

9.5 Hedge of Net Investments in Foreign Operations

9.5.1 Details of net investments in foreign operations hedged items as of December 31, 2025 and 2024 and changes in fair value for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Foreign currency**<br>**translation reserve** | **Foreign currency**<br>**translation reserve** | **Foreign currency**<br>**translation reserve** | **Foreign currency**<br>**translation reserve** | **Changes in fair value** | **Changes in fair value** | **Changes in fair value** | **Changes in fair value** |
|  | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** | **2025** | **2025** | **2024** | **2024** |
|  **Hedge accounting** |  |  |  |  |  |  |  |  |
|  Currency risk | W | (276478) | W | (316109) | W | (46601) | W | 253679 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

9.5.2 Details of financial instruments designated as hedge of net investments in foreign operations as of December 31, 2025 and 2024 and changes in fair value for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **2025** | **2025** |
|  | **Notional**<br>**amount** | **Notional**<br>**amount** | **Assets** | **Liabilities** | **Liabilities** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency |  |  |  |  |  |  |  |
|  Forwards | W | 11479 | W | W | 2911 | W | 1398 |
|  Debentures in foreign currencies |  | 2203306 |  |  | 2203005 |  | 45203 |
|  | W | 2214785 | W | W | 2205916 | W | 46601 |
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **2024** | **2024** |
|  | **Notional**<br>**amount** | **Notional**<br>**amount** | **Assets** | **Liabilities** | **Liabilities** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** |
|  **Currency** |  |  |  |  |  |  |  |
|  Forwards | W | 15876 | W | W | 4309 | W | 998 |
|  Debentures in foreign currencies |  | 2077155 |  |  | 2077155 |  | (254677) |
|  | W | 2093031 | W | W | 2081464 | W | (253679) |

---

9.5.3 Fair value of non-derivative financial instruments designated as hedge of net investments in foreign operations as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Debentures in foreign currencies | W | 2186490 | W | 2180537 |

---

9.5.4 Gains or losses on net investments in foreign operations hedging instruments and hedged items attributable to the hedged risk for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Gains (losses) on hedging instruments: | W | 46601 | W | (253679) |
|  Effective portion of gains (losses) on hedge of net investments in foreign operations (recognized in other comprehensive income or loss) |  | 46601 |  | (253679) |
|  Ineffective portion of gains (losses) on hedge of net investments in foreign operations (recognized in profit or loss) |  |  |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

9.5.5 Effective portion of gains or losses on net investments in foreign operations hedging instruments recognized in other comprehensive income (loss) for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Other comprehensive income (loss) | W | 46601 | W | (253679) |
|  Reclassification to profit or loss |  | 1546 |  |  |
|  Income tax effect |  | (8516) |  | 66971 |
|  | W | 39631 | W | (186708) |

---

**10. Loans Measured at Amortized Cost** 

10.1 Details of loans as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Loans measured at amortized cost | W | 496800668 | W | 477066990 |
|  Deferred loan origination fees and costs |  | 583572 |  | 638230 |
|  Less: Allowances for credit losses |  | (5406196) |  | (5633380) |
|  | W | 491978044 | W | 472071840 |

---

10.2 Details of loans to banks as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Loans measured at amortized cost | W | 8761115 | W | 9830773 |
|  Less: Allowances for credit losses |  | (2039) |  | (31158) |
|  | W | 8759076 | W | 9799615 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

10.3 Details of loan types and customer types of loans to customers other than banks as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Retail** | **Retail** | **Corporate** | **Corporate** | **Credit card** | **Credit card** | **Total** | **Total** |
|  Loans in Korean won | W | 195458599 | W | 213386102 | W |  | W | 408844701 |
|  Loans in foreign currencies |  | 6139413 |  | 26054287 |  |  |  | 32193700 |
|  Domestic import usance bills |  |  |  | 3576639 |  |  |  | 3576639 |
|  Off-shore funding loans |  |  |  | 959102 |  |  |  | 959102 |
|  Call Loans |  |  |  | 450000 |  |  |  | 450000 |
|  Bills bought in Korean won |  |  |  | 1691 |  |  |  | 1691 |
|  Bills bought in foreign currencies |  |  |  | 2611182 |  |  |  | 2611182 |
|  Guarantee payments under acceptances and guarantees |  |  |  | 5414 |  |  |  | 5414 |
|  Credit card receivables in Korean won |  |  |  |  |  | 23103760 |  | 23103760 |
|  Credit card receivables in foreign currencies |  |  |  |  |  | 31326 |  | 31326 |
|  Bonds purchased under repurchase agreements |  |  |  | 8084671 |  |  |  | 8084671 |
|  Privately placed bonds |  |  |  | 390175 |  |  |  | 390175 |
|  Factored receivables |  | 3563 |  | 77811 |  |  |  | 81374 |
|  Lease receivables |  | 429444 |  | 82883 |  |  |  | 512327 |
|  Loans for installment credit |  | 6853732 |  | 923331 |  |  |  | 7777063 |
|  |  | 208884751 |  | 256603288 |  | 23135086 |  | 488623125 |
|  Proportion (%) |  | 42.75 |  | 52.52 |  | 4.73 |  | 100 |
|  Less: Allowances for credit losses |  | (1500254) |  | (3187999) |  | (715904) |  | (5404157) |
|  | W | 207384497 | W | 253415289 | W | 22419182 | W | 483218968 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

10.3 Details of loan types and customer types of loans to customers other than banks as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Retail** | **Retail** | **Corporate** | **Corporate** | **Credit card** | **Credit card** | **Total** | **Total** |
|  Loans in Korean won | W | 188109614 | W | 203391791 | W |  | W | 391501405 |
|  Loans in foreign currencies |  | 5978891 |  | 26954295 |  |  |  | 32933186 |
|  Domestic import usance bills |  |  |  | 3790808 |  |  |  | 3790808 |
|  Off-shore funding loans |  |  |  | 626058 |  |  |  | 626058 |
|  Bills bought in Korean won |  |  |  | 1862 |  |  |  | 1862 |
|  Bills bought in foreign currencies |  |  |  | 2379270 |  |  |  | 2379270 |
|  Guarantee payments under acceptances and guarantees |  |  |  | 16930 |  |  |  | 16930 |
|  Credit card receivables in Korean won |  |  |  |  |  | 23436170 |  | 23436170 |
|  Credit card receivables in foreign currencies |  |  |  |  |  | 42304 |  | 42304 |
|  Bonds purchased under repurchase agreements |  |  |  | 4967067 |  |  |  | 4967067 |
|  Privately placed bonds |  |  |  | 389783 |  |  |  | 389783 |
|  Factored receivables |  | 7 |  | 62602 |  |  |  | 62609 |
|  Lease receivables |  | 406844 |  | 194057 |  |  |  | 600901 |
|  Loans for installment credit |  | 6327692 |  | 798402 |  |  |  | 7126094 |
|  |  | 200823048 |  | 243572925 |  | 23478474 |  | 467874447 |
|  Proportion (%) |  | 42.92 |  | 52.06 |  | 5.02 |  | 100.00 |
|  Less: Allowances for credit losses | W | (1587817) |  | (3137665) |  | (876740) |  | (5602222) |
|  | W | 199235231 | W | 240435260 | W | 22601734 | W | 462272225 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

10.4 Changes in deferred loan origination fees and costs for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Increase** | **Increase** | **Decrease** | **Decrease** | **Others** | **Others** | **Ending** | **Ending** |
|  **Deferred loan origination costs** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans in Korean won | W | 681351 | W | 341642 | W | (374539) | W |  | W | 648454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 96983 |  | 75892 |  | (81149) |  | (2661) |  | 89065 |
|  |  | 778334 |  | 417534 |  | (455688) |  | (2661) |  | 737519 |
|  **Deferred loan origination fees** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans in Korean won |  | 54080 |  | 29801 |  | (28075) |  |  |  | 55806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 86024 |  | 64839 |  | (50861) |  | (1861) |  | 98141 |
|  |  | 140104 |  | 94640 |  | (78936) |  | (1861) |  | 153947 |
|  | W | 638230 | W | 322894 | W | (376752) | W | (800) | W | 583572 |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Increase** | **Increase** | **Decrease** | **Decrease** | **Others** | **Others** | **Ending** | **Ending** |
|  **Deferred loan origination costs** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans in Korean won | W | 623493 | W | 464364 | W | (406506) | W |  | W | 681351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 76997 |  | 73259 |  | (57159) |  | 3886 |  | 96983 |
|  |  | 700490 |  | 537623 |  | (463665) |  | 3886 |  | 778334 |
|  **Deferred loan origination fees** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans in Korean won |  | 37002 |  | 44345 |  | (27267) |  |  |  | 54080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 72244 |  | 42950 |  | (38031) |  | 8861 |  | 86024 |
|  |  | 109246 |  | 87295 |  | (65298) |  | 8861 |  | 140104 |
|  | W | 591244 | W | 450328 | W | (398367) | W | (4975) | W | 638230 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**11. Allowances for Credit Losses** 

11.1 Changes in allowances for credit losses of loans measured at amortized cost for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Retail** | **Retail** | **Retail** | **Retail** | **Retail** | **Retail** | **Corporate** | **Corporate** | **Corporate** | **Corporate** | **Corporate** | **Corporate** | **Credit card** | **Credit card** | **Credit card** | **Credit card** | **Credit card** | **Credit card** |
|  | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** |
|  | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** |
|  Beginning | W | 607351 | W | 331435 | W | 649031 | W | 913140 | W | 923564 | W | 1332119 | W | 240434 | W | 372640 | W | 263666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between stages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to 12-month expected credit losses |  | 159823 |  | (151174) |  | (8649) |  | 221777 |  | (217285) |  | (4492) |  | 34654 |  | (34519) |  | (135) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses |  | (134669) |  | 163519 |  | (28850) |  | (248185) |  | 305680 |  | (57495) |  | (50226) |  | 50683 |  | (457) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment |  | (13672) |  | (75950) |  | 89622 |  | (8477) |  | (194671) |  | 203148 |  | (2702) |  | (6678) |  | 9380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Write-offs |  |  |  | (1) |  | (886368) |  |  |  | (13) |  | (776283) |  |  |  |  |  | (646045) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales |  | (1219) |  | (1254) |  | (62265) |  | (37) |  | (798) |  | (173263) |  |  |  | (7596) |  | (168436) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) for credit losses <sup>1,2</sup> |  | (24749) |  | 6356 |  | 920421 |  | 64363 |  | 93234 |  | 910344 |  | (36615) |  | (4887) |  | 733095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others (exchange differences, etc.) |  | (13538) |  | (457) |  | (24489) |  | (7294) |  | (2004) |  | (87034) |  | (72) |  | (67) |  | (30213) |
|  Ending | W | 579327 | W | 272474 | W | 648453 | W | 935287 | W | 907707 | W | 1347044 | W | 185473 | W | 369576 | W | 160855 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

11.1 Changes in allowances for credit losses of loans measured at amortized cost for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Retail** | **Retail** | **Retail** | **Retail** | **Retail** | **Retail** | **Corporate** | **Corporate** | **Corporate** | **Corporate** | **Corporate** | **Corporate** | **Credit card** | **Credit card** | **Credit card** | **Credit card** | **Credit card** | **Credit card** |
|  | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** | **Lifetime**<br>**expected credit losses** |
|  | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** |
|  Beginning | W | 584650 | W | 283382 | W | 501049 | W | 939640 | W | 935715 | W | 1282544 | W | 206525 | W | 328152 | W | 401148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between stages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to 12-month expected credit losses |  | 130047 |  | (122955) |  | (7092) |  | 365392 |  | (306167) |  | (59225) |  | 55076 |  | (53048) |  | (2028) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses |  | (117019) |  | 237066 |  | (120047) |  | (273328) |  | 340311 |  | (66983) |  | (27518) |  | 34364 |  | (6846) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment |  | (11838) |  | (166139) |  | 177977 |  | (54667) |  | (191344) |  | 246011 |  | (3753) |  | (23914) |  | 27667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Write-offs |  |  |  |  |  | (684223) |  |  |  | (2) |  | (593492) |  |  |  |  |  | (706501) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales |  | (4177) |  | (1668) |  | (56116) |  |  |  | (499) |  | (102759) |  |  |  |  |  | (136344) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) for credit losses <sup>1,2</sup> |  | 23910 |  | 101072 |  | 824942 |  | (56320) |  | 123219 |  | 585169 |  | 10142 |  | 87067 |  | 715149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others (exchange differences, etc.) |  | 1778 |  | 677 |  | 12541 |  | (7577) |  | 22331 |  | 40854 |  | (38) |  | 19 |  | (28579) |
|  Ending | W | 607351 | W | 331435 | W | 649031 | W | 913140 | W | 923564 | W | 1332119 | W | 240434 | W | 372640 | W | 263666 |

---

<sup>1</sup> Provision for credit losses in the consolidated statements of comprehensive income also includes provision (reversal) for credit losses of due from financial institutions (Note 7.3), provision (reversal) for credit losses of financial investments (Note 12.5), provision (reversal) for credit losses of unused commitments, acceptances and guarantees (Note 24.2), provision (reversal) for credit losses of financial guarantee contracts (Note 24.3), and provision (reversal) for credit losses of other financial assets (Note 19.2). 

<sup>2</sup> Includes W 385,145 million and W 317,140 million of collections from written-off loans for the years ended December 31, 2025 and 2024, respectively.

The amount of financial assets that the Group wrote off during the current year but is continuing recovery activities is W 2,270,706 million and W 1,984,218 million for the years ended December 31, 2025 and 2024, respectively. Also, the Group manages the written-off loans that their legal extinctive prescriptions have not been completed, and that have not been collected. The balances of those loans are W11,292,023 million and W11,468,928 million as of December 31, 2025 and 2024, respectively.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

11.2 Changes in gross carrying amount of loans for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **12-month expected<br>credit losses** | **12-month expected<br>credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** |
|  | **12-month expected<br>credit losses** | **12-month expected<br>credit losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** |
|  Beginning | W | 431753998 | W | 40940591 | W | 5010631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between stages: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to 12-month expected credit losses |  | 31009972 |  | (30953536) |  | (56436) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses (non-impaired) |  | (45366268) |  | 46542340 |  | (1176072) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses (impaired) |  | (942693) |  | (4001107) |  | 4943800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Write-offs |  |  |  | (14) |  | (2308696) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales |  | (663793) |  | (110914) |  | (1930763) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease)<br> (execution, repayment, and others) |  | 30098904 |  | (5450159) |  | 44455 |
|  Ending | W | 445890120 | W | 46967201 | W | 4526919 |
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **12-month expected<br>credit losses** | **12-month expected<br>credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** |
|  | **12-month expected<br>credit losses** | **12-month expected<br>credit losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** |
|  Beginning | W | 408283402 | W | 37076587 | W | 4908103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between stages: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to 12-month expected credit losses |  | 29092806 |  | (28622325) |  | (470481) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses (non-impaired) |  | (36987630) |  | 38887946 |  | (1900316) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses (impaired) |  | (1489772) |  | (4423007) |  | 5912779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Write-offs |  |  |  | (2) |  | (1984216) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales |  | (3563046) |  | (98684) |  | (1028807) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease)<br> (execution, repayment, and others) |  | 36418238 |  | (1879924) |  | (426431) |
|  Ending | W | 431753998 | W | 40940591 | W | 5010631 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**12. Financial Assets at Fair Value through Profit or Loss and Financial Investments** 

12.1 Details of financial assets at fair value through profit or loss and financial investments as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  **Financial assets at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and public bonds | W | 12700497 | W | 13389804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial bonds |  | 13649186 |  | 11601280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds |  | 8116539 |  | 7323299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-backed securities |  | 30000 |  | 39444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beneficiary certificates |  | 24898393 |  | 20644681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative-linked securities |  | 2161288 |  | 1924109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other debt securities |  | 18997445 |  | 18846019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks |  | 7258897 |  | 3964021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other equity securities |  | 342556 |  | 311316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Privately placed bonds |  | 227391 |  | 208856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other loans |  | 1003621 |  | 978907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other due from financial institutions |  | 64438 |  | 59838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 412279 |  | 158519 |
|  | W | 89862530 | W | 79450093 |
|  **Financial investments** | **Financial investments** | **Financial investments** | **Financial investments** | **Financial investments** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and public bonds | W | 43782588 | W | 38108213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial bonds |  | 23991331 |  | 26091249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds |  | 23215390 |  | 22059099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-backed securities |  | 2163313 |  | 2366140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other debt securities |  | 159797 |  | 111295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks |  | 1808906 |  | 1643898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity investments |  | 16144 |  | 9410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other equity securities |  | 2786933 |  | 2059980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Privately placed bonds |  | 1995083 |  | 1446628 |
|  |  | 99919485 |  | 93895912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at amortized cost |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government and public bonds |  | 4944116 |  | 6029059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial bonds |  | 13817271 |  | 12761712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds |  | 8698069 |  | 8946009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-backed securities |  | 7551248 |  | 9321199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other debt securities |  | 73785 |  | 72969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Allowances for credit losses |  | (17297) |  | (17396) |
|  |  | 35067192 |  | 37113552 |
|  | W | 134986677 | W | 131009464 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

12.2 Dividend income from equity securities designated at fair value through other comprehensive income for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** |
|  |  | **From the**<br>**equity securities<br>derecognized** | **From the**<br>**equity securities<br>derecognized** | **From the**<br>**equity securities**<br>**held** | **From the**<br>**equity securities**<br>**held** | **From the**<br>**equity securities<br>derecognized** | **From the**<br>**equity securities<br>derecognized** | **From the**<br>**equity securities**<br>**held** | **From the**<br>**equity securities**<br>**held** |
|  Equity securities measured at fair value through other<br>comprehensive income: | Equity securities measured at fair value through other<br>comprehensive income: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks | Listed | W | 2211 | W | 10491 | W |  | W | 3597 |
|  | Unlisted |  | 124 |  | 19479 |  |  |  | 19724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity investments |  |  |  | 496 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other equity securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other equity securities |  | 735 |  | 115418 |  | 699 |  | 62505 |
|  |  | W | 3070 | W | 145884 | W | 699 | W | 85826 |

---

12.3 Derecognized equity securities measured at fair value through other comprehensive income for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** |
|  |  | **Disposal<br>price** | **Disposal<br>price** | **Accumulated<br>other<br>comprehensive<br>income (loss)**<br>**as of disposal<br>date** | **Accumulated<br>other<br>comprehensive<br>income (loss)**<br>**as of disposal<br>date** | **Disposal**<br>**price** | **Disposal**<br>**price** | **Accumulated<br>other<br>comprehensive<br>income (loss)**<br>**as of disposal<br>date** | **Accumulated<br>other<br>comprehensive<br>income (loss)**<br>**as of disposal<br>date** |
|  Equity securities measured at fair value through other<br>comprehensive income: | Equity securities measured at fair value through other<br>comprehensive income: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks | Listed | W | 44537 | W | (10440) | W | 8054 | W | (5586) |
|  | Unlisted |  | 47713 |  | 23446 |  |  |  |  |
|  Other equity securities | Other equity securities |  | 176243 |  | 232 |  | 131788 |  | 1937 |
|  |  | W | 268493 | W | 13238 | W | 139842 | W | (3649) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

12.4 Provision (reversal) for credit losses of financial investments for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Provision** | **Provision** | **Reversal** | **Reversal** | **Total** | **Total** |
|  Securities measured at fair value through other comprehensive income | W | 7094 | W | (6251) | W | 843 |
|  Loans measured at fair value through other comprehensive income |  | 559 |  | (29) |  | 530 |
|  Securities measured at amortized cost |  | 4454 |  | (4504) |  | (50) |
|  | W | 12107 | W | (10784) | W | 1323 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Provision** | **Provision** | **Reversal** | **Reversal** | **Total** | **Total** |
|  Securities measured at fair value through other comprehensive income | W | 6913 | W | (6433) | W | 480 |
|  Loans measured at fair value through other comprehensive income |  | 1039 |  | (241) |  | 798 |
|  Securities measured at amortized cost |  | 2300 |  | (4267) |  | (1967) |
|  | W | 10252 | W | (10941) | W | (689) |

---

12.5 Changes in allowances for credit losses of financial investments for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **12-month expected**<br>**credit losses** | **12-month expected**<br>**credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** |
|  | **12-month expected**<br>**credit losses** | **12-month expected**<br>**credit losses** | **Non-impaired** | **Impaired** | **Impaired** |
|  Beginning | W | 43031 | W | W | 82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between stages: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to 12-month expected credit losses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales |  | (3225) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) for credit losses |  | 1324 |  |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others (exchange differences, etc.) |  | 21 |  |  |  |
|  Ending | W | 41151 | W | W | 81 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **12-month expected**<br>**credit losses** | **12-month expected**<br>**credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** |
|  | **12-month expected**<br>**credit losses** | **12-month expected**<br>**credit losses** | **Non-impaired** | **Impaired** | **Impaired** |
|  Beginning | W | 44465 | W | W | 77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between stages: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to 12-month expected credit losses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales |  | (2065) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) for credit losses |  | (694) |  |  | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others (exchange differences, etc.) |  | 1325 |  |  |  |
|  Ending | W | 43031 | W | W | 82 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**13. Investments in Associates and Joint Ventures** 

13.1 Details of investments in associates and joint ventures as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Ownership<br>(%)** | **Acquisition<br>cost** | **Acquisition<br>cost** | **Share of<br>net asset<br>amount** | **Share of<br>net asset<br>amount** | **Carrying<br>amount** | **Carrying<br>amount** | **Industry** | **Location** |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund <sup>2</sup> | 66.66 | W |  | W | 5624 | W | 2812 | Investment finance | Korea |
|  Balhae Infrastructure Company <sup>1</sup> | 14.35 |  | 123479 |  | 106822 |  | 106823 | Investment finance | Korea |
|  Aju Good Technology Venture Fund | 38.46 |  | 343 |  | 9093 |  | 9093 | Investment finance | Korea |
|  Incheon Bridge Co., Ltd. <sup>1</sup> | 14.99 |  | 9158 |  | 7383 |  | 7383 | Operation<br> of highways and<br>related facilities | Korea |
|  Big Dipper Co., Ltd. <sup>1</sup> | 17.77 |  | 440 |  | (11) |  |  | Research,<br>consulting, and big<br>data | Korea |
|  Food Factory Co., Ltd. | 22.22 |  | 1000 |  | 919 |  | 330 | Farm product<br>distribution | Korea |
|  Korea Credit Bureau Co., Ltd. <sup>1</sup> | 9.00 |  | 4500 |  | 10992 |  | 10992 | Credit information | Korea |
|  KB Social Impact Investment Fund | 30.00 |  | 4500 |  | 3898 |  | 3898 | Investment finance | Korea |
|  KB-Solidus Global Healthcare Fund <sup>2</sup> | 43.33 |  | 16047 |  | 1303 |  | 1999 | Investment finance | Korea |
|  POSCO-KB Shipbuilding Fund | 31.25 |  | 1576 |  | 2366 |  | 2366 | Investment finance | Korea |
|  KB-TS Technology Venture Private Equity Fund <sup>2</sup> | 56.00 |  | 6608 |  | 9536 |  | 9536 | Investment finance | Korea |
|  KB-SJ Tourism Venture Fund <sup>1</sup> | 18.52 |  | 378 |  | 1518 |  | 1518 | Investment finance | Korea |
|  UNION Media Commerce Fund | 28.99 |  | 1000 |  | 941 |  | 941 | Investment finance | Korea |
|  KB-Stonebridge Secondary Private Equity Fund <sup>1</sup> | 14.56 |  | 11802 |  | 12008 |  | 12008 | Investment finance | Korea |
|  KB SPROTT Renewable Private Equity Fund No.1 <sup>2</sup> | 7.69 |  | 4628 |  |  |  | 822 | Investment finance | Korea |
|  KB-UTC Inno-Tech Venture Fund <sup>2</sup> | 44.29 |  | 18849 |  | 7398 |  | 8724 | Investment finance | Korea |
|  WJ Private Equity Fund No.1 | 26.95 |  | 10000 |  | 9525 |  | 9525 | Investment finance | Korea |
|  All Together Korea Fund No.2 <sup>3</sup> | 99.99 |  | 10000 |  | 11026 |  | 11026 | Asset management | Korea |
|  KB-NAU Special Situation Corporate Restructuring Private Equity Fund <sup>1</sup> | 12.00 |  | 10956 |  | 19939 |  | 19939 | Asset management | Korea |
|  2020 KB Fintech Renaissance Fund <sup>1</sup> | 5.05 |  | 384 |  | 891 |  | 891 | Investment finance | Korea |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.1 Details of investments in associates and joint ventures as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Ownership<br>(%)** | **Acquisition<br>cost** | **Acquisition<br>cost** | **Share of<br>net asset<br>amount** | **Share of<br>net asset<br>amount** | **Carrying<br>amount** | **Carrying<br>amount** | **Industry** | **Location** |
| FineKB Private Equity Fund No.1 | 25.00 | W | 6400 | W | 9858 | W | 9858 | Investment<br>finance | Korea |
| G payment Joint Stock Company | 43.84 |  | 7445 |  | 1910 |  | 2386 | Investment<br>advisory<br>and<br>securities<br>trading | Vietnam |
| KB-GeneN Medical Venture Fund No.1 | 22.52 |  | 2000 |  | 1838 |  | 1838 | Investment<br>finance | Korea |
| DA-Friend New Technology Investment Fund No.2 | 27.40 |  | 988 |  | 902 |  | 902 | Investment<br>finance | Korea |
| Cornerstone Pentastone Fund No.4 | 21.05 |  | 818 |  | 763 |  | 763 | Investment<br>finance | Korea |
| Star-Lord General Investors Private Real Estate Investment Company No.10 | 26.24 |  | 46700 |  |  |  |  | Real estate<br>investment | Korea |
| KB-Badgers Future Mobility ESG Fund No.1 | 40.91 |  | 19426 |  | 13286 |  | 13286 | Investment<br>finance | Korea |
| JS Private Equity Fund No.3 | 20.48 |  | 196 |  | 411 |  | 411 | Investment<br>finance | Korea |
| Mirae Asset Mobility Investment Fund No.1 | 22.99 |  | 2000 |  | 1885 |  | 1885 | Investment<br>finance | Korea |
| KB-FT Green Growth 1st Technology Investment Association <sup>1</sup> | 10.34 |  | 2000 |  | 1847 |  | 1847 | Investment<br>finance | Korea |
| Glenwood Credit Private Equity Fund No.2 | 29.89 |  | 42000 |  | 43887 |  | 43887 | Investment<br>finance | Korea |
| Smart Korea KB Future9-Sejong Venture Fund | 38.46 |  | 4366 |  | 4317 |  | 4317 | Investment<br>finance | Korea |
| KB-KTB Technology Venture Fund <sup>2</sup> | 50.90 |  | 28001 |  | 14750 |  | 24585 | Investment<br>finance | Korea |
| KB-SOLIDUS Healthcare Investment Fund <sup>2</sup> | 90.40 |  | 89378 |  | 90279 |  | 89188 | Investment<br>finance | Korea |
| Paramark KB Fund No.1 <sup>1</sup> | 17.34 |  | 27927 |  | 27381 |  | 27381 | Investment<br>finance | Korea |
| KB Co-Investment Private Equity Fund No.1 <sup>1</sup> | 7.12 |  | 16522 |  | 16522 |  | 17359 | Investment<br>finance | Korea |
| KB-NP Green ESG New Technology Venture Capital Fund | 29.85 |  | 46109 |  | 46655 |  | 46655 | Investment<br>finance | Korea |
| TMAP Mobility Co., Ltd. <sup>1</sup> | 8.25 |  | 199981 |  | 53838 |  | 182457 | Application<br>software<br>development<br>and supply | Korea |
| Nextrade Co., Ltd. <sup>1</sup> | 6.64 |  | 9700 |  | 8374 |  | 8374 | Investment<br>finance | Korea |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.1 Details of investments in associates and joint ventures as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Ownership<br>(%)** | **Acquisition<br>cost** | **Acquisition<br>cost** | **Share of<br>net asset<br>amount** | **Share of<br>net asset<br>amount** | **Carrying<br>amount** | **Carrying<br>amount** | **Industry** | **Location** |
| Shinhan Global Mobility Fund No.1 | 24.56 | W | 1345 | W | 1265 | W | 1265 | Investment<br>finance | Korea |
| SKB Next Unicorn K-Battery Fund No.1 | 24.84 |  | 1908 |  | 1810 |  | 1810 | Investment<br>finance | Korea |
| MW-Pyco NewWave New Technology Investment Fund 4th <sup>2</sup> | 51.30 |  | 2000 |  |  |  |  | Investment<br>finance | Korea |
| Bitgoeul Cheomdan Green 1st Co., Ltd. <sup>1</sup> | 19.00 |  | 342 |  | 240 |  | 240 | Electricity | Korea |
| KB-SUSUNG 1st Investment Fund <sup>1</sup> | 15.00 |  | 195 |  | 833 |  | 833 | Investment<br>finance | Korea |
| Shinhan-Eco Venture Fund 2nd | 20.00 |  | 1885 |  | 1807 |  | 1807 | Investment<br>finance | Korea |
| Leading H2O Fund 1 | 48.20 |  | 1500 |  | 1421 |  | 1421 | Investment<br>finance | Korea |
| U-KB Credit No.1 Private Equity | 33.33 |  | 24433 |  | 21743 |  | 21740 | Investment<br>finance | Korea |
| KB-BridgePole Venture Investment Fund No.2 <sup>1</sup> | 14.29 |  | 1500 |  | 1432 |  | 1432 | Investment<br>finance | Korea |
| Sirius Silicon Valley I New Technology Fund | 23.81 |  | 500 |  | 463 |  | 463 | Investment<br>finance | Korea |
| FineKB Private Equity Fund No.2 <sup>1</sup> | 0.85 |  | 250 |  | 245 |  | 245 | Investment<br>finance | Korea |
| Timefolio Athleisure Investment Fund | 48.19 |  | 4000 |  | 3750 |  | 3750 | Investment<br>finance | Korea |
| VIG Private Equity Fund V-3 | 39.60 |  | 4484 |  | 15127 |  | 4268 | Investment<br>finance | Korea |
| COMPA Global Scale-Up Fund No.3 | 30.00 |  | 1000 |  | 957 |  | 957 | Investment<br>finance | Korea |
| YG MCE PROJECT NO.1 Fund | 27.80 |  | 1500 |  |  |  |  | Investment<br>finance | Korea |
| HI YG Win-win Fund No.2 | 20.62 |  | 2000 |  | 2154 |  | 2154 | Investment<br>finance | Korea |
| KB-CJ Venture Fund 1st | 40.00 |  | 1800 |  | 1869 |  | 1869 | Investment<br>finance | Korea |
| Elohim-Bilanx aerospace No.1 Fund | 20.94 |  | 2000 |  | 1937 |  | 1937 | Investment<br>finance | Korea |
| KB-SUSUNG 2nd Investment Fund <sup>1</sup> | 12.66 |  | 2000 |  | 1959 |  | 1959 | Investment<br>finance | Korea |
| IMM global Secondary 1-1 Equity Private Fund | 41.65 |  | 3413 |  | 4975 |  | 4975 | Investment<br>finance | Korea |
| LIB Material Investment Fund | 25.49 |  | 4098 |  | 829 |  | 829 | Investment<br>finance | Korea |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.1 Details of investments in associates and joint ventures as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Ownership<br>(%)** | **Acquisition<br>cost** | **Acquisition<br>cost** | **Share of<br>net asset<br>amount** | **Share of<br>net asset<br>amount** | **Carrying<br>amount** | **Carrying<br>amount** | **Industry** | **Location** |
| Allra Fintech Corp. <sup>1</sup> | 14.98 | W | 8547 | W | 2119 | W | 8813 | System<br>software<br>development<br>and supply | Korea |
| Reboot Private Equity Fund | 21.50 |  | 7000 |  | 6839 |  | 6839 | Investment<br>finance | Korea |
| KB-SBI Global Strategic Capital Fund | 36.39 |  | 34112 |  | 32708 |  | 32711 | Investment<br>finance | Korea |
| KB-Cyrus Tourism Venture Fund <sup>1</sup> | 18.52 |  | 2000 |  | 1855 |  | 1855 | Investment<br>finance | Korea |
| IBKS Design Fund | 46.51 |  | 2000 |  | 4811 |  | 4811 | Investment<br>finance | Korea |
| KB-IMM New Star Real Estate Private Fund I <sup>2</sup> | 61.67 |  | 60845 |  | 63022 |  | 63022 | Investment<br>finance | Korea |
| KB-LB Middle Market Enterprises Innovation Private Equity Fund | 36.20 |  | 8137 |  | 7075 |  | 7073 | Investment<br>finance | Korea |
| YG Al Industrial Automation Solutions FUND | 28.20 |  | 2000 |  | 1992 |  | 1992 | Investment<br>finance | Korea |
| Semicolon Susong REITs Co., Ltd. | 49.87 |  | 86292 |  | 85335 |  | 85331 | Investment<br>finance | Korea |
| KB-Novus Genesis Private Equity Fund <sup>1</sup> | 9.40 |  | 2300 |  | 2267 |  | 2267 | Investment<br>finance | Korea |
| ATP TP VC Fund No.1 | 39.60 |  | 2000 |  | 1976 |  | 1976 | Investment<br>finance | Korea |
| AIM-KB-DOUBLE Connected Future Investment Fund <sup>1</sup> | 8.33 |  | 1000 |  | 984 |  | 984 | Investment<br>finance | Korea |
| KB-IMM New Star Real Estate Private Fund II <sup>2</sup> | 60.91 |  | 26337 |  | 16525 |  | 26361 | Investment<br>finance | Korea |
| K-1 23rd yeoksam Real Estate Investment Trust company Ltd. | 41.30 |  | 61901 |  | 62424 |  | 62424 | Investment<br>finance | Korea |
| IMM Korea Beauty Co-Invest Private Equity Fund <sup>2</sup> | 51.00 |  | 50000 |  | 49633 |  | 49633 | Investment<br>finance | Korea |
| VP Inc. <sup>1</sup> | 10.80 |  | 14312 |  | 12659 |  | 14312 | Other<br>financial<br>support<br>service | Korea |
| DAYLI Fountainhead Blind Private Equity Fund II | 49.02 |  | 11250 |  | 5360 |  | 10746 | Investment<br>finance | Korea |
| KB-ANDA Deep Tech Venture Fund | 30.00 |  | 1250 |  | 1250 |  | 1250 | Investment<br>finance | Korea |
| Others |  |  | 1668 |  | 14861 |  | 2825 |  |  |
|  |  |  | 1232709 |  | 998385 |  | 1137184 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.1 Details of investments in associates and joint ventures as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Ownership<br>(%)** | **Acquisition<br>cost** | **Acquisition<br>cost** | **Share of<br>net asset<br>amount** | **Share of<br>net asset<br>amount** | **Carrying<br>amount** | **Carrying<br>amount** | **Industry** | **Location** |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund <sup>2</sup> | 66.66 | W | 3001 | W | 5203 | W | 5203 | Investment<br>finance | Korea |
|  Balhae Infrastructure Company <sup>1</sup> | 16.37 |  | 138678 |  | 139015 |  | 139015 | Investment<br>finance | Korea |
|  Aju Good Technology Venture Fund | 38.46 |  | 343 |  | 9313 |  | 9313 | Investment<br>finance | Korea |
|  Incheon Bridge Co., Ltd. <sup>1</sup> | 14.99 |  | 9158 |  | (535) |  |  | Operation of<br>highways<br>and related<br>facilities | Korea |
|  Big Dipper Co., Ltd. <sup>1</sup> | 17.77 |  | 440 |  | 32 |  | 32 | Research,<br>consulting,<br>and big data | Korea |
|  Food Factory Co., Ltd. | 22.22 |  | 1000 |  | 684 |  | 1541 | Farm<br>product<br>distribution | Korea |
|  KBSP Private Equity Fund No.4 <sup>1</sup> | 14.95 |  | 6100 |  | 3995 |  | 3995 | Investment<br>finance | Korea |
|  Korea Credit Bureau Co., Ltd. <sup>1</sup> | 9.00 |  | 4500 |  | 7948 |  | 7948 | Credit<br>information | Korea |
|  KB Social Impact Investment Fund | 30.00 |  | 4500 |  | 3514 |  | 3514 | Investment<br>finance | Korea |
|  KB-Solidus Global Healthcare Fund <sup>2</sup> | 43.33 |  | 17217 |  | 16829 |  | 17525 | Investment<br>finance | Korea |
|  POSCO-KB Shipbuilding Fund | 31.25 |  | 1826 |  | 3223 |  | 3223 | Investment<br>finance | Korea |
|  KB-TS Technology Venture Private Equity Fund <sup>2</sup> | 56.00 |  | 6608 |  | 11129 |  | 11129 | Investment<br>finance | Korea |
|  KB-SJ Tourism Venture Fund <sup>1</sup> | 18.52 |  | 568 |  | 1781 |  | 1781 | Investment<br>finance | Korea |
|  UNION Media Commerce Fund | 28.99 |  | 1000 |  | 946 |  | 946 | Investment<br>finance | Korea |
|  KB-Stonebridge Secondary Private Equity Fund <sup>1</sup> | 14.56 |  | 16171 |  | 16867 |  | 16867 | Investment<br>finance | Korea |
|  KB SPROTT Renewable Private Equity Fund No.1 <sup>2</sup> | 37.69 |  | 9216 |  | 5764 |  | 7640 | Investment<br>finance | Korea |
|  KB-UTC Inno-Tech Venture Fund <sup>2</sup> | 44.29 |  | 18849 |  | 11730 |  | 15482 | Investment<br>finance | Korea |
|  WJ Private Equity Fund No.1 | 26.95 |  | 10000 |  | 9423 |  | 9423 | Investment<br>finance | Korea |
|  All Together Korea Fund No.2 <sup>3</sup> | 99.99 |  | 10000 |  | 10847 |  | 10847 | Asset<br>management | Korea |
|  KB-NAU Special Situation Corporate Restructuring Private Equity Fund <sup>1</sup> | 12.00 |  | 10758 |  | 16043 |  | 16043 | Asset<br>management | Korea |
|  2020 KB Fintech Renaissance Fund <sup>1</sup> | 5.05 |  | 550 |  | 1077 |  | 1077 | Investment<br>finance | Korea |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.1 Details of investments in associates and joint ventures as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Ownership<br>(%)** | **Acquisition<br>cost** | **Acquisition<br>cost** | **Share of<br>net asset<br>amount** | **Share of<br>net asset<br>amount** | **Carrying<br>amount** | **Carrying<br>amount** | **Industry** | **Location** |
| FineKB Private Equity Fund No.1 | 25.00 | W | 15940 | W | 13712 | W | 13712 | Investment<br>finance | Korea |
| G payment Joint Stock Company | 43.84 |  | 7445 |  | 1504 |  | 2521 | Investment<br>advisory<br>and<br>securities<br>trading | Vietnam |
| KB-GeneN Medical Venture Fund No.1 | 22.52 |  | 2000 |  | 1880 |  | 1880 | Investment<br>finance | Korea |
| DA-Friend New Technology Investment Fund No.2 | 27.40 |  | 988 |  | 906 |  | 906 | Investment<br>finance | Korea |
| Cornerstone Pentastone Fund No.4 | 21.05 |  | 818 |  | 764 |  | 764 | Investment<br>finance | Korea |
| Star-Lord General Investors Private Real Estate Investment Company No.10 | 26.24 |  | 46700 |  | 24452 |  |  | Real estate<br>investment | Korea |
| KB-Badgers Future Mobility ESG Fund No.1 | 40.91 |  | 18076 |  | 13109 |  | 13109 | Investment<br>finance | Korea |
| JS Private Equity Fund No.3 | 20.48 |  | 945 |  | 742 |  | 742 | Investment<br>finance | Korea |
| Mirae Asset Mobility Investment Fund No.1 | 22.99 |  | 2000 |  | 1918 |  | 1918 | Investment<br>finance | Korea |
| KB-FT Green Growth 1st Technology Investment Association <sup>1</sup> | 10.34 |  | 2000 |  | 1889 |  | 1889 | Investment<br>finance | Korea |
| Glenwood Credit Private Equity Fund No.2 | 29.89 |  | 42000 |  | 44380 |  | 44380 | Investment<br>finance | Korea |
| THE CHAEUL FUND NO.1 | 31.25 |  | 1000 |  | 954 |  | 954 | Investment<br>finance | Korea |
| Smart Korea KB Future9-Sejong Venture Fund | 38.46 |  | 2366 |  | 2325 |  | 2325 | Investment<br>finance | Korea |
| KB-KTB Technology Venture Fund <sup>2</sup> | 50.90 |  | 28001 |  | 25446 |  | 25448 | Investment<br>finance | Korea |
| KB-SOLIDUS Healthcare Investment Fund <sup>2</sup> | 90.40 |  | 65810 |  | 62383 |  | 62282 | Investment<br>finance | Korea |
| Paramark KB Fund No.1 <sup>1</sup> | 17.34 |  | 23671 |  | 23219 |  | 23219 | Investment<br>finance | Korea |
| KB Co-Investment Private Equity Fund No.1 <sup>1</sup> | 7.12 |  | 15509 |  | 15968 |  | 15968 | Investment<br>finance | Korea |
| POSITIVE Sobujang Venture Fund No.1 | 44.00 |  | 879 |  | 869 |  | 869 | Investment<br>finance | Korea |
| History 2022 Fintech Fund | 34.80 |  | 2000 |  | 1896 |  | 1896 | Investment<br>finance | Korea |
| KB-NP Green ESG New Technology Venture Capital Fund | 29.85 |  | 40249 |  | 38592 |  | 38592 | Investment<br>finance | Korea |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.1 Details of investments in associates and joint ventures as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Ownership<br>(%)** | **Acquisition<br>cost** | **Acquisition<br>cost** | **Share of<br>net asset<br>amount** | **Share of<br>net asset<br>amount** | **Carrying<br>amount** | **Carrying<br>amount** | **Industry** | **Location** |
| TMAP Mobility Co., Ltd. <sup>1</sup> | 8.25 | W | 199981 | W | 52287 | W | 182000 | Application<br>software<br>development<br>and supply | Korea |
| Nextrade Co., Ltd. <sup>1</sup> | 6.64 |  | 9700 |  | 8180 |  | 8180 | Investment<br>finance | Korea |
| Shinhan Global Mobility Fund No.1 | 24.56 |  | 1345 |  | 1294 |  | 1294 | Investment<br>finance | Korea |
| SKB Next Unicorn K-Battery Fund No.1 | 24.84 |  | 1908 |  | 1850 |  | 1850 | Investment<br>finance | Korea |
| MW-Pyco NewWave New Technology Investment Fund 4th <sup>2</sup> | 51.30 |  | 2000 |  | 1922 |  | 1922 | Investment<br>finance | Korea |
| Bitgoeul Cheomdan Green 1st Co., Ltd. <sup>1</sup> | 19.00 |  | 342 |  | 241 |  | 241 | Electricity | Korea |
| KB-SUSUNG 1st Investment Fund <sup>1</sup> | 15.00 |  | 1614 |  | 2188 |  | 2188 | Investment<br>finance | Korea |
| Shinhan-Eco Venture Fund 2nd | 20.00 |  | 2050 |  | 1973 |  | 1973 | Investment<br>finance | Korea |
| Leading H2O Fund 1 | 48.20 |  | 1500 |  | 1455 |  | 1455 | Investment<br>finance | Korea |
| 2023 JB Newtech No.2 Fund | 25.70 |  | 1406 |  | 1705 |  | 1705 | Investment<br>finance | Korea |
| U-KB Credit No.1 Private Equity | 33.33 |  | 7300 |  | 8006 |  | 8006 | Investment<br>finance | Korea |
| KB-BridgePole Venture Investment Fund No.2 <sup>1</sup> | 14.29 |  | 1500 |  | 1463 |  | 1463 | Investment<br>finance | Korea |
| Sirius Silicon Valley I New Technology Fund | 23.81 |  | 500 |  | 474 |  | 474 | Investment<br>finance | Korea |
| FineKB Private Equity Fund No.2 <sup>1</sup> | 0.85 |  | 250 |  | 248 |  | 248 | Investment<br>finance | Korea |
| Timefolio Athleisure Investment Fund | 48.19 |  | 4000 |  | 3923 |  | 3923 | Investment<br>finance | Korea |
| VIG Private Equity Fund V-3 | 39.60 |  | 1636 |  | 4126 |  | 1636 | Investment<br>finance | Korea |
| COMPA Global Scale-Up Fund No.3 | 30.00 |  | 1000 |  | 980 |  | 980 | Investment<br>finance | Korea |
| AKK Robotech Valueup New Technology Investment Fund <sup>1</sup> | 5.00 |  | 1000 |  | 1127 |  | 1127 | Investment<br>finance | Korea |
| YG MCE PROJECT NO.1 Fund | 27.80 |  | 1500 |  | 1477 |  | 1477 | Investment<br>finance | Korea |
| HI YG Win-win Fund No.2 | 20.62 |  | 2000 |  | 1973 |  | 1973 | Investment<br>finance | Korea |
| KB-CJ Venture Fund 1st | 40.00 |  | 1800 |  | 1733 |  | 1733 | Investment<br>finance | Korea |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.1 Details of investments in associates and joint ventures as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Ownership<br>(%)** | **Acquisition<br>cost** | **Acquisition<br>cost** | **Share of<br>net asset<br>amount** | **Share of<br>net asset<br>amount** | **Carrying<br>amount** | **Carrying<br>amount** | **Industry** | **Location** |
| Elohim-Bilanx aerospace No.1 Fund | 20.94 | W | 2000 | W | 1978 | W | 1978 | Investment<br>finance | Korea |
| KB-SUSUNG 2nd Investment Fund <sup>1</sup> | 12.66 |  | 2000 |  | 1981 |  | 1981 | Investment<br>finance | Korea |
| IMM global Secondary 1-1 Equity Private Fund | 41.65 |  | 2819 |  | 3754 |  | 3754 | Investment<br>finance | Korea |
| LIB Material Investment Fund | 25.49 |  | 4098 |  | 1475 |  | 1475 | Investment<br>finance | Korea |
| NOVORSEC-SJG Consumer Secondary Fund | 24.30 |  | 1700 |  | 1688 |  | 1688 | Investment<br>finance | Korea |
| Allra Fintech Corp. <sup>1</sup> | 15.77 |  | 8532 |  | 1638 |  | 8684 | System<br>software<br>development<br>and supply | Korea |
| Reboot Private Equity Fund | 21.50 |  | 7000 |  | 6946 |  | 6946 | Investment<br>finance | Korea |
| KB-SBI Global Strategic Capital Fund | 36.39 |  | 11299 |  | 10782 |  | 10784 | Investment<br>finance | Korea |
| KB-Cyrus Tourism Venture Fund <sup>1</sup> | 18.52 |  | 1000 |  | 977 |  | 977 | Investment<br>finance | Korea |
| IBKS Design Fund | 46.51 |  | 2000 |  | 1996 |  | 1996 | Investment<br>finance | Korea |
| NICE DATA INTELLIGENCE VENTURE FUND | 23.53 |  | 1000 |  | 998 |  | 998 | Investment<br>finance | Korea |
| Pectus Hanhwa Fund 2 | 29.41 |  | 2000 |  | 1950 |  | 1950 | Investment<br>finance | Korea |
| KB-IMM New Star Real Estate Private Fund I <sup>2</sup> | 61.67 |  | 31563 |  | 33074 |  | 33074 | Investment<br>finance | Korea |
| Korea Environment Technology Co., Ltd. | 24.31 |  | 107428 |  | 43156 |  | 107428 | Non-designated<br>waste treatment | Korea |
| Others |  |  | 2841 |  | 2367 |  | 1911 |  |  |
|  |  |  | 1020492 |  | 765121 |  | 947390 |  |  |

---

<sup>1</sup> As of December 31, 2025 and 2024, the Group can exercise significant influence on the decision-making processes of the associate's financial and business policies through participation in governing bodies.

<sup>2</sup> In order to direct relevant activities, it is necessary to obtain the consent of the two co-operative members; the Group has applied the equity method as the Group cannot control the investee by itself.

<sup>3</sup> As of December 31, 2025 and 2024, the Group participates in the investment management committee but cannot exercise control.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

In accordance with Korean IFRS No. 1028 *Investments in Associates and Joint Ventures*, the Group elected to apply the exemption from the equity method to associates, including New Daegu Busan Expressway Co., Ltd., and 68 other associates and for an associate that the Group determined it does not have substantive access to returns associated with its ownership interest, namely Meritz Hyundai Investment Real Estate Strategy No.1 PEF, and classified them as financial assets at fair value through profit or loss.

Although the Group holds 20% or more of the ownership, investment trusts with limited influence on related activities according to trust contracts, and companies with limited influence on related activities due to bankruptcy and corporate rehabilitation proceedings are excluded from associates.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** |
|  | **Total**<br>**assets** | **Total**<br>**assets** | **Total<br>liabilities** | **Total<br>liabilities** | **Paid-in<br>capital** | **Paid-in<br>capital** | **Equity** | **Equity** | **Share of**<br>**net asset<br>amount** | **Share of**<br>**net asset<br>amount** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Consolidated<br>carrying**<br>**amount** | **Consolidated<br>carrying**<br>**amount** |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund | W | 8436 | W |  | W |  | W | 8436 | W | 5624 | W | (2812) | W | 2812 |
|  Balhae Infrastructure Company |  | 912236 |  | 167829 |  | 825006 |  | 744407 |  | 106822 |  | 1 |  | 106823 |
|  Aju Good Technology Venture Fund |  | 23643 |  |  |  | 900 |  | 23643 |  | 9093 |  |  |  | 9093 |
|  Incheon Bridge Co., Ltd. |  | 511041 |  | 461785 |  | 61096 |  | 49256 |  | 7383 |  |  |  | 7383 |
|  Big Dipper Co., Ltd. |  | 1579 |  | 1640 |  | 495 |  | (61) |  | (11) |  | 11 |  |  |
|  Food Factory Co., Ltd. |  | 10525 |  | 6389 |  | 450 |  | 4136 |  | 919 |  | (589) |  | 330 |
|  Korea Credit Bureau Co., Ltd. |  | 160778 |  | 38645 |  | 10000 |  | 122133 |  | 10992 |  |  |  | 10992 |
|  KB Social Impact Investment Fund |  | 13197 |  | 203 |  | 15000 |  | 12994 |  | 3898 |  |  |  | 3898 |
|  KB-Solidus Global Healthcare Fund |  | 9882 |  | 6876 |  | 300 |  | 3006 |  | 1303 |  | 696 |  | 1999 |
|  POSCO-KB Shipbuilding Fund |  | 7572 |  | 1 |  | 5040 |  | 7571 |  | 2366 |  |  |  | 2366 |
|  KB-TS Technology Venture Private Equity Fund |  | 23948 |  | 6920 |  | 11800 |  | 17028 |  | 9536 |  |  |  | 9536 |
|  KB-SJ Tourism Venture Fund |  | 8354 |  | 155 |  | 2052 |  | 8199 |  | 1518 |  |  |  | 1518 |
|  UNION Media Commerce Fund |  | 3318 |  | 73 |  | 3450 |  | 3245 |  | 941 |  |  |  | 941 |
|  KB-Stonebridge Secondary Private Equity Fund |  | 82582 |  | 140 |  | 81020 |  | 82442 |  | 12008 |  |  |  | 12008 |
|  KB SPROTT Renewable Private Equity Fund No.1 |  | 8890 |  | 815 |  | 13795 |  | 8075 |  |  |  | 822 |  | 822 |
|  KB-UTC Inno-Tech Venture Fund |  | 16914 |  | 210 |  | 42418 |  | 16704 |  | 7398 |  | 1326 |  | 8724 |
|  WJ Private Equity Fund No.1 |  | 35436 |  | 99 |  | 37100 |  | 35337 |  | 9525 |  |  |  | 9525 |
|  All Together Korea Fund No.2 |  | 11028 |  | 1 |  | 10001 |  | 11027 |  | 11026 |  |  |  | 11026 |
|  KB-NAU Special Situation Corporate Restructuring Private Equity Fund |  | 150638 |  | 502 |  | 82500 |  | 150136 |  | 19939 |  |  |  | 19939 |
|  2020 KB Fintech Renaissance Fund |  | 17657 |  | 1 |  | 7630 |  | 17656 |  | 891 |  |  |  | 891 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** |
|  | **Total**<br>**assets** | **Total**<br>**assets** | **Total**<br>**liabilities** | **Total**<br>**liabilities** | **Paid-in<br>capital** | **Paid-in<br>capital** | **Equity** | **Equity** | **Share of**<br>**net asset<br>amount** | **Share of**<br>**net asset<br>amount** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Consolidated<br>carrying**<br>**amount** | **Consolidated<br>carrying**<br>**amount** |
|  FineKB Private Equity Fund No.1 | W | 39454 | W | 23 | W | 25600 | W | 39431 | W | 9858 | W |  | W | 9858 |
|  G payment Joint Stock Company |  | 12589 |  | 5714 |  | 3505 |  | 6875 |  | 1910 |  | 476 |  | 2386 |
|  KB-GeneN Medical Venture Fund No.1 |  | 8517 |  | 354 |  | 8880 |  | 8163 |  | 1838 |  |  |  | 1838 |
|  DA-Friend New Technology Investment Fund No.2 |  | 3500 |  | 168 |  | 3650 |  | 3332 |  | 902 |  |  |  | 902 |
|  Cornerstone Pentastone Fund No.4 |  | 3550 |  | 3 |  | 3800 |  | 3547 |  | 763 |  |  |  | 763 |
|  Star-Lord General Investors Private Real Estate Investment Company No.10 |  | 550993 |  | 418340 |  | 178000 |  | 132653 |  |  |  |  |  |  |
|  KB-Badgers Future Mobility ESG Fund No.1 |  | 32486 |  |  |  | 47498 |  | 32486 |  | 13286 |  |  |  | 13286 |
|  JS Private Equity Fund No.3 |  | 2006 |  |  |  | 956 |  | 2006 |  | 411 |  |  |  | 411 |
|  Mirae Asset Mobility Investment Fund No.1 |  | 8276 |  | 74 |  | 8700 |  | 8202 |  | 1885 |  |  |  | 1885 |
|  KB-FT Green Growth 1st Technology Investment Association |  | 17868 |  |  |  | 19345 |  | 17868 |  | 1847 |  |  |  | 1847 |
|  Glenwood Credit Private Equity Fund No.2 |  | 147382 |  | 570 |  | 140500 |  | 146812 |  | 43887 |  |  |  | 43887 |
|  Smart Korea KB Future9-Sejong Venture Fund |  | 11223 |  |  |  | 11352 |  | 11223 |  | 4317 |  |  |  | 4317 |
|  KB-KTB Technology Venture Fund |  | 49093 |  | 802 |  | 55000 |  | 48291 |  | 14750 |  | 9835 |  | 24585 |
|  KB-SOLIDUS Healthcare Investment Fund |  | 99859 |  | 3 |  | 99000 |  | 99856 |  | 90279 |  | (1091) |  | 89188 |
|  Paramark KB Fund No.1 |  | 157927 |  | 30 |  | 160873 |  | 157897 |  | 27381 |  |  |  | 27381 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** |
|  | **Total**<br>**assets** | **Total**<br>**assets** | **Total<br>liabilities** | **Total<br>liabilities** | **Paid-in<br>capital** | **Paid-in<br>capital** | **Equity** | **Equity** | **Share of**<br>**net asset<br>amount** | **Share of**<br>**net asset<br>amount** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Consolidated<br>carrying**<br>**amount** | **Consolidated<br>carrying**<br>**amount** |
|  KB Co-Investment Private Equity Fund No.1 | W | 244227 | W | 440 | W | 232032 | W | 243787 | W | 16522 | W | 837 | W | 17359 |
|  KB-NP Green ESG New Technology Venture Capital Fund |  | 164620 |  | 3650 |  | 159089 |  | 160970 |  | 46655 |  |  |  | 46655 |
|  TMAP Mobility Co., Ltd. |  | 704504 |  | 83910 |  | 8682 |  | 620594 |  | 53838 |  | 128619 |  | 182457 |
|  Nextrade Co., Ltd. |  | 129215 |  | 3091 |  | 146100 |  | 126124 |  | 8374 |  |  |  | 8374 |
|  Shinhan Global Mobility Fund No.1 |  | 5317 |  | 165 |  | 5700 |  | 5152 |  | 1265 |  |  |  | 1265 |
|  SKB Next Unicorn K-Battery Fund No.1 |  | 7283 |  |  |  | 7700 |  | 7283 |  | 1810 |  |  |  | 1810 |
|  Bitgoeul Cheomdan Green 1st Co., Ltd. |  | 1270 |  | 5 |  | 1800 |  | 1265 |  | 240 |  |  |  | 240 |
|  KB-SUSUNG 1st Investment Fund |  | 5550 |  |  |  | 1300 |  | 5550 |  | 833 |  |  |  | 833 |
|  Shinhan-Eco Venture Fund 2nd |  | 9043 |  | 6 |  | 9425 |  | 9037 |  | 1807 |  |  |  | 1807 |
|  Leading H2O Fund 1 |  | 2947 |  | 1 |  | 3110 |  | 2946 |  | 1421 |  |  |  | 1421 |
|  U-KB Credit No.1 Private Equity |  | 70559 |  | 1018 |  | 73300 |  | 69541 |  | 21743 |  | (3) |  | 21740 |
|  KB-BridgePole Venture Investment Fund No.2 |  | 10027 |  |  |  | 10500 |  | 10027 |  | 1432 |  |  |  | 1432 |
|  Sirius Silicon Valley I New Technology Fund |  | 1946 |  | 1 |  | 2100 |  | 1945 |  | 463 |  |  |  | 463 |
|  FineKB Private Equity Fund No.2 |  | 28345 |  | 78 |  | 28822 |  | 28267 |  | 245 |  |  |  | 245 |
|  Timefolio Athleisure Investment Fund |  | 7782 |  |  |  | 8300 |  | 7782 |  | 3750 |  |  |  | 3750 |
|  VIG Private Equity Fund V-3 |  | 15140 |  | 13 |  | 15892 |  | 15127 |  | 15127 |  | (10859) |  | 4268 |
|  COMPA Global Scale-Up Fund No.3 |  | 3191 |  |  |  | 3334 |  | 3191 |  | 957 |  |  |  | 957 |
|  HI YG Win-win Fund No.2 |  | 10446 |  |  |  | 9700 |  | 10446 |  | 2154 |  |  |  | 2154 |
|  KB-CJ Venture Fund 1st |  | 4732 |  | 58 |  | 4500 |  | 4674 |  | 1869 |  |  |  | 1869 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** |
|  | **Total**<br>**assets** | **Total**<br>**assets** | **Total<br>liabilities** | **Total<br>liabilities** | **Paid-in<br>capital** | **Paid-in<br>capital** | **Equity** | **Equity** | **Share of**<br>**net asset<br>amount** | **Share of**<br>**net asset<br>amount** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Consolidated<br>carrying**<br>**amount** | **Consolidated<br>carrying**<br>**amount** |
|  Elohim-Bilanx aerospace No.1 Fund | W | 9249 | W |  | W | 9550 | W | 9249 | W | 1937 | W |  | W | 1937 |
|  KB-SUSUNG 2nd Investment Fund |  | 15475 |  |  |  | 15800 |  | 15475 |  | 1959 |  |  |  | 1959 |
|  IMM global Secondary 1-1 Equity Private Fund |  | 12152 |  | 206 |  | 8195 |  | 11946 |  | 4975 |  |  |  | 4975 |
|  LIB Material Investment Fund |  | 3042 |  |  |  | 29342 |  | 3042 |  | 829 |  |  |  | 829 |
|  Allra Fintech Corp. |  | 55722 |  | 41573 |  | 183 |  | 14149 |  | 2119 |  | 6694 |  | 8813 |
|  Reboot Private Equity Fund |  | 31880 |  | 128 |  | 32500 |  | 31752 |  | 6839 |  |  |  | 6839 |
|  KB-SBI Global Strategic Capital Fund |  | 90337 |  | 455 |  | 93732 |  | 89882 |  | 32708 |  | 3 |  | 32711 |
|  KB-Cyrus Tourism Venture Fund |  | 10019 |  |  |  | 10800 |  | 10019 |  | 1855 |  |  |  | 1855 |
|  IBKS Design Fund |  | 10344 |  |  |  | 4300 |  | 10344 |  | 4811 |  |  |  | 4811 |
|  KB-IMM New Star Real Estate Private Fund I |  | 101364 |  | 4334 |  | 93677 |  | 97030 |  | 63022 |  |  |  | 63022 |
|  KB-LB Middle Market Enterprises Innovation Private Equity Fund |  | 20062 |  | 515 |  | 22491 |  | 19547 |  | 7075 |  | (2) |  | 7073 |
|  YG Al Industrial Automation Solutions FUND |  | 7073 |  |  |  | 7100 |  | 7073 |  | 1992 |  |  |  | 1992 |
|  Semicolon Susong REITs Co., Ltd. |  | 597991 |  | 408961 |  | 39100 |  | 189030 |  | 85335 |  | (4) |  | 85331 |
|  KB-Novus Genesis Private Equity Fund |  | 24245 |  | 93 |  | 24500 |  | 24152 |  | 2267 |  |  |  | 2267 |
|  ATP TP VC Fund No.1 |  | 4994 |  | 4 |  | 5051 |  | 4990 |  | 1976 |  |  |  | 1976 |
|  AIM-KB-DOUBLE Connected Future Investment Fund |  | 11868 |  | 63 |  | 12000 |  | 11805 |  | 984 |  |  |  | 984 |
|  KB-IMM New Star Real Estate Private Fund II |  | 43969 |  | 690 |  | 43240 |  | 43279 |  | 16525 |  | 9836 |  | 26361 |
|  K-1 23rd yeoksam Real Estate Investment Trust company Ltd. |  | 294284 |  | 169062 |  | 15350 |  | 125222 |  | 62424 |  |  |  | 62424 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** | **December 31, 2025 \*** |
|  | **Total**<br>**assets** | **Total**<br>**assets** | **Total<br>liabilities** | **Total<br>liabilities** | **Paid-in<br>capital** | **Paid-in<br>capital** | **Equity** | **Equity** | **Share of**<br>**net asset<br>amount** | **Share of**<br>**net asset<br>amount** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Consolidated<br>carrying**<br>**amount** | **Consolidated<br>carrying**<br>**amount** |
|  IMM Korea Beauty Co-Invest Private Equity Fund | W | 97550 | W | 269 | W | 98000 | W | 97281 | W | 49633 | W |  | W | 49633 |
|  VP Inc. |  | 100680 |  | 17997 |  | 3703 |  | 82683 |  | 12659 |  | 1653 |  | 14312 |
|  DAYLI Fountainhead Blind Private Equity Fund II |  | 21938 |  | 23 |  | 23000 |  | 21915 |  | 5360 |  | 5386 |  | 10746 |
|  KB-ANDA Deep Tech Venture Fund |  | 4435 |  | 270 |  | 4165 |  | 4165 |  | 1250 |  |  |  | 1250 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025\*** | **2025\*** | **2025\*** | **2025\*** | **2025\*** | **2025\*** | **2025\*** | **2025\*** | **2025\*** | **2025\*** |
|  | **Operating**<br>**revenue** | **Operating**<br>**revenue** | **Net profit**<br>**(loss)** | **Net profit**<br>**(loss)** | **Other**<br>**comprehensive**<br>**income (loss)** | **Other**<br>**comprehensive**<br>**income (loss)** | **Total**<br>**comprehensive**<br>**income (loss)** | **Total**<br>**comprehensive**<br>**income (loss)** | **Dividends** | **Dividends** |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund | W | 275 | W | (406) | W |  | W | (406) | W | 60 |
|  Balhae Infrastructure Company |  | 67036 |  | (24054) |  |  |  | (24054) |  | 13039 |
|  Aju Good Technology Venture Fund |  | 1801 |  | 1456 |  |  |  | 1456 |  | 780 |
|  Incheon Bridge Co., Ltd. |  | 164260 |  | 70592 |  |  |  | 70592 |  |  |
|  Big Dipper Co., Ltd. |  | 268 |  | (260) |  |  |  | (260) |  |  |
|  Food Factory Co., Ltd. |  | 5093 |  | 323 |  |  |  | 323 |  |  |
|  Korea Credit Bureau Co., Ltd. |  | 202976 |  | 36559 |  |  |  | 36559 |  | 90 |
|  KB Social Impact Investment Fund |  | 1544 |  | 1282 |  |  |  | 1282 |  |  |
|  KB-Solidus Global Healthcare Fund |  | 19856 |  | 6671 |  |  |  | 6671 |  | 17247 |
|  POSCO-KB Shipbuilding Fund |  | 293 |  | (1944) |  |  |  | (1944) |  |  |
|  KB-TS Technology Venture Private Equity Fund |  | 2 |  | (582) |  |  |  | (582) |  |  |
|  KB-SJ Tourism Venture Fund |  | 6009 |  | 1411 |  |  |  | 1411 |  | 334 |
|  UNION Media Commerce Fund |  |  |  | (17) |  |  |  | (17) |  |  |
|  KB-Stonebridge Secondary Private Equity Fund |  | 2349 |  | (1531) |  |  |  | (1531) |  | 217 |
|  KB SPROTT Renewable Private Equity Fund No.1 |  |  |  | (704) |  |  |  | (704) |  |  |
|  KB-UTC Inno-Tech Venture Fund |  | 25 |  | (328) |  |  |  | (328) |  |  |
|  WJ Private Equity Fund No.1 |  | 570 |  | 375 |  |  |  | 375 |  |  |
|  All Together Korea Fund No.2 |  | 241 |  | 235 |  |  |  | 235 |  |  |
|  KB-NAU Special Situation Corporate Restructuring Private Equity Fund |  | 10187 |  | 27110 |  |  |  | 27110 |  |  |
|  2020 KB Fintech Renaissance Fund |  | 792 |  | (413) |  |  |  | (413) |  |  |
|  FineKB Private Equity Fund No.1 |  | 23909 |  | 22868 |  |  |  | 22868 |  | 32 |
|  G payment Joint Stock Company |  | 5072 |  | 1 |  |  |  | 1 |  |  |
|  KB-GeneN Medical Venture Fund No.1 |  |  |  | (186) |  |  |  | (186) |  |  |
|  DA-Friend New Technology Investment Fund No.2 |  |  |  | (17) |  |  |  | (17) |  |  |
|  Cornerstone Pentastone Fund No.4 |  |  |  | (2) |  |  |  | (2) |  |  |
|  Star-Lord General Investors Private Real Estate Investment Company No.10 |  | 37751 |  | 39470 |  |  |  | 39470 |  |  |
|  KB-Badgers Future Mobility ESG Fund No.1 |  | 154 |  | (2858) |  |  |  | (2858) |  | 3 |
|  JS Private Equity Fund No.3 |  | 2152 |  | 2039 |  |  |  | 2039 |  |  |
|  Mirae Asset Mobility Investment Fund No.1 |  | 8 |  | (140) |  |  |  | (140) |  |  |
|  KB-FT Green Growth 1st Technology Investment Association |  |  |  | (403) |  |  |  | (403) |  |  |
|  Glenwood Credit Private Equity Fund No.2 |  | 10374 |  | 9632 |  |  |  | 9632 |  | 2425 |
|  Smart Korea KB Future9-Sejong Venture Fund |  | 6 |  | (4) |  |  |  | (4) |  |  |
|  KB-KTB Technology Venture Fund |  | 135 |  | (4682) |  |  |  | (4682) |  |  |
|  KB-SOLIDUS Healthcare Investment Fund |  | 2985 |  | 1522 |  | 3263 |  | 4785 |  |  |
|  Paramark KB Fund No.1 |  | 8369 |  | (550) |  |  |  | (550) |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** |
|  | **Operating**<br>**revenue** | **Operating**<br>**revenue** | **Net profit**<br>**(loss)** | **Net profit**<br>**(loss)** | **Other**<br>**comprehensive**<br>**income (loss)** | **Total**<br>**comprehensive**<br>**income (loss)** | **Total**<br>**comprehensive**<br>**income (loss)** | **Dividends** | **Dividends** |
|  KB Co-Investment Private Equity Fund No.1 | W | 9480 | W | 7699 | W | W | 7699 | W | 472 |
|  KB-NP Green ESG New Technology Venture Capital Fund |  | 7955 |  | 7600 |  |  | 7600 |  |  |
|  TMAP Mobility Co., Ltd. |  | 283545 |  | 24832 |  |  | 24832 |  |  |
|  Nextrade Co., Ltd. |  | 39766 |  | 2910 |  |  | 2910 |  |  |
|  Shinhan Global Mobility Fund No.1 |  |  |  | (117) |  |  | (117) |  |  |
|  SKB Next Unicorn K-Battery Fund No.1 |  |  |  | (163) |  |  | (163) |  |  |
|  Bitgoeul Cheomdan Green 1st Co., Ltd. |  |  |  | (4) |  |  | (4) |  |  |
|  KB-SUSUNG 1st Investment Fund |  | 1652 |  | 420 |  |  | 420 |  |  |
|  Shinhan-Eco Venture Fund 2nd |  | 257 |  | (4) |  |  | (4) |  |  |
|  Leading H2O Fund 1 |  | 2 |  | (71) |  |  | (71) |  |  |
|  U-KB Credit No.1 Private Equity |  | 591 |  | (5873) |  |  | (5873) |  |  |
|  KB-BridgePole Venture Investment Fund No.2 |  | 3 |  | (217) |  |  | (217) |  |  |
|  Sirius Silicon Valley I New Technology Fund |  | 7 |  | (48) |  |  | (48) |  |  |
|  FineKB Private Equity Fund No.2 |  | 1 |  | (300) |  |  | (300) |  |  |
|  Timefolio Athleisure Investment Fund |  | 81 |  | (358) |  |  | (358) |  |  |
|  VIG Private Equity Fund V-3 |  |  |  | (760) |  |  | (760) |  |  |
|  COMPA Global Scale-Up Fund No.3 |  | 4 |  | (75) |  |  | (75) |  |  |
|  HI YG Win-win Fund No.2 |  | 6 |  | 878 |  |  | 878 |  |  |
|  KB-CJ Venture Fund 1st |  | 726 |  | 341 |  |  | 341 |  |  |
|  Elohim-Bilanx aerospace No.1 Fund |  | 3 |  | (197) |  |  | (197) |  |  |
|  KB-SUSUNG 2nd Investment Fund |  | 458 |  | (173) |  |  | (173) |  |  |
|  IMM global Secondary 1-1 Equity Private Fund |  | 1555 |  | 1515 |  |  | 1515 |  | 4 |
|  LIB Material Investment Fund |  |  |  | (700) |  |  | (700) |  |  |
|  Allra Fintech Corp. |  | 20431 |  | 946 |  |  | 946 |  |  |
|  Reboot Private Equity Fund |  | 6 |  | (497) |  |  | (497) |  |  |
|  KB-SBI Global Strategic Capital Fund |  | 99 |  | (2433) |  |  | (2433) |  |  |
|  KB-Cyrus Tourism Venture Fund |  | 18 |  | (657) |  |  | (657) |  |  |
|  IBKS Design Fund |  | 6114 |  | 6052 |  |  | 6052 |  |  |
|  KB-IMM New Star Real Estate Private Fund I |  | 8460 |  | 5307 |  |  | 5307 |  | 2824 |
|  KB-LB Middle Market Enterprises Innovation Private Equity Fund |  |  |  | (2944) |  |  | (2944) |  |  |
|  YG Al Industrial Automation Solutions FUND |  | 75 |  | (27) |  |  | (27) |  |  |
|  Semicolon Susong REITs Co., Ltd. |  | 13974 |  | (17) |  |  | (17) |  | 961 |
|  KB-Novus Genesis Private Equity Fund |  | 4 |  | (348) |  |  | (348) |  |  |
|  ATP TP VC Fund No.1 |  | 1 |  | (61) |  |  | (61) |  |  |
|  AIM-KB-DOUBLE Connected Future Investment Fund |  | 1 |  | (195) |  |  | (195) |  |  |
|  KB-IMM New Star Real Estate Private Fund II |  | 840 |  | 401 |  |  | 401 |  | 220 |
|  K-1 23rd yeoksam Real Estate Investment Trust company Ltd. |  | 3915 |  | 3857 |  |  | 3857 |  | 2334 |
|  IMM Korea Beauty Co-Invest Private Equity Fund |  | 1 |  | (719) |  |  | (719) |  |  |
|  DAYLI Fountainhead Blind Private Equity Fund II |  | 150 |  | (974) |  |  | (975) |  | 19 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** |
|  | **Total**<br>**assets** | **Total**<br>**assets** | **Total<br>liabilities** | **Total<br>liabilities** | **Paid-in<br>capital** | **Paid-in<br>capital** | **Equity** | **Equity** | **Share of**<br>**net asset<br>amount** | **Share of**<br>**net asset<br>amount** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Consolidated<br>carrying**<br>**amount** | **Consolidated<br>carrying**<br>**amount** |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund | W | 7804 | W |  | W | 4500 | W | 7804 | W | 5203 | W |  | W | 5203 |
|  Balhae Infrastructure Company |  | 971597 |  | 122393 |  | 882264 |  | 849204 |  | 139015 |  |  |  | 139015 |
|  Aju Good Technology Venture Fund |  | 24214 |  |  |  | 900 |  | 24214 |  | 9313 |  |  |  | 9313 |
|  Incheon Bridge Co., Ltd. |  | 517004 |  | 520577 |  | 61096 |  | (3573) |  | (535) |  | 535 |  |  |
|  Big Dipper Co., Ltd. |  | 1527 |  | 1345 |  | 495 |  | 182 |  | 32 |  |  |  | 32 |
|  Food Factory Co., Ltd. |  | 8330 |  | 5253 |  | 450 |  | 3077 |  | 684 |  | 857 |  | 1541 |
|  KBSP Private Equity Fund No.4 |  | 22631 |  | 560 |  | 33700 |  | 22071 |  | 3995 |  |  |  | 3995 |
|  Korea Credit Bureau Co., Ltd. |  | 150657 |  | 62343 |  | 10000 |  | 88314 |  | 7948 |  |  |  | 7948 |
|  KB Social Impact Investment Fund |  | 11965 |  | 253 |  | 15000 |  | 11712 |  | 3514 |  |  |  | 3514 |
|  KB-Solidus Global Healthcare Fund |  | 38836 |  |  |  | 3000 |  | 38836 |  | 16829 |  | 696 |  | 17525 |
|  POSCO-KB Shipbuilding Fund |  | 10316 |  | 1 |  | 5840 |  | 10315 |  | 3223 |  |  |  | 3223 |
|  KB-TS Technology Venture Private Equity Fund |  | 26460 |  | 6587 |  | 11800 |  | 19873 |  | 11129 |  |  |  | 11129 |
|  KB-SJ Tourism Venture Fund |  | 9893 |  | 276 |  | 3078 |  | 9617 |  | 1781 |  |  |  | 1781 |
|  UNION Media Commerce Fund |  | 3318 |  | 56 |  | 3450 |  | 3262 |  | 946 |  |  |  | 946 |
|  KB-Stonebridge Secondary Private Equity Fund |  | 115993 |  | 193 |  | 111020 |  | 115800 |  | 16867 |  |  |  | 16867 |
|  KB SPROTT Renewable Private Equity Fund No.1 |  | 24548 |  | 251 |  | 29313 |  | 24297 |  | 5764 |  | 1876 |  | 7640 |
|  KB-UTC Inno-Tech Venture Fund |  | 26935 |  | 448 |  | 42418 |  | 26487 |  | 11730 |  | 3752 |  | 15482 |
|  WJ Private Equity Fund No.1 |  | 35435 |  | 475 |  | 37100 |  | 34960 |  | 9423 |  |  |  | 9423 |
|  All Together Korea Fund No.2 |  | 10849 |  | 1 |  | 10001 |  | 10848 |  | 10847 |  |  |  | 10847 |
|  KB-NAU Special Situation Corporate Restructuring Private Equity Fund |  | 123434 |  | 408 |  | 82500 |  | 123026 |  | 16043 |  |  |  | 16043 |
|  2020 KB Fintech Renaissance Fund |  | 21377 |  | 38 |  | 10900 |  | 21339 |  | 1077 |  |  |  | 1077 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** |
|  | **Total**<br>**assets** | **Total**<br>**assets** | **Total<br>liabilities** | **Total<br>liabilities** | **Paid-in<br>capital** | **Paid-in<br>capital** | **Equity** | **Equity** | **Share of**<br>**net asset<br>amount** | **Share of**<br>**net asset<br>amount** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Consolidated<br>carrying**<br>**amount** | **Consolidated<br>carrying**<br>**amount** |
|  FineKB Private Equity Fund No.1 | W | 55144 | W | 294 | W | 63760 | W | 54850 | W | 13712 | W |  | W | 13712 |
|  G payment Joint Stock Company |  | 10253 |  | 2994 |  | 2950 |  | 7259 |  | 1504 |  | 1017 |  | 2521 |
|  KB-GeneN Medical Venture Fund No.1 |  | 8526 |  | 178 |  | 8880 |  | 8348 |  | 1880 |  |  |  | 1880 |
|  DA-Friend New Technology Investment Fund No.2 |  | 3500 |  | 151 |  | 3650 |  | 3349 |  | 906 |  |  |  | 906 |
|  Cornerstone Pentastone Fund No.4 |  | 3553 |  | 3 |  | 3800 |  | 3550 |  | 764 |  |  |  | 764 |
|  Star-Lord General Investors Private Real Estate Investment Company No.10 |  | 514425 |  | 421241 |  | 178000 |  | 93184 |  | 24452 |  | (24452) |  |  |
|  KB-Badgers Future Mobility ESG Fund No.1 |  | 32051 |  |  |  | 44198 |  | 32051 |  | 13109 |  |  |  | 13109 |
|  JS Private Equity Fund No.3 |  | 3625 |  |  |  | 4614 |  | 3625 |  | 742 |  |  |  | 742 |
|  Mirae Asset Mobility Investment Fund No.1 |  | 8417 |  | 75 |  | 8700 |  | 8342 |  | 1918 |  |  |  | 1918 |
|  KB-FT Green Growth 1st Technology Investment Association |  | 18271 |  |  |  | 19345 |  | 18271 |  | 1889 |  |  |  | 1889 |
|  Glenwood Credit Private Equity Fund No.2 |  | 148970 |  | 508 |  | 140500 |  | 148462 |  | 44380 |  |  |  | 44380 |
|  THE CHAEUL FUND NO.1 |  | 3053 |  |  |  | 3200 |  | 3053 |  | 954 |  |  |  | 954 |
|  Smart Korea KB Future9-Sejong Venture Fund |  | 6044 |  |  |  | 6152 |  | 6044 |  | 2325 |  |  |  | 2325 |
|  KB-KTB Technology Venture Fund |  | 50673 |  | 687 |  | 55000 |  | 49986 |  | 25446 |  | 2 |  | 25448 |
|  KB-SOLIDUS Healthcare Investment Fund |  | 69004 |  | 3 |  | 72930 |  | 69001 |  | 62383 |  | (101) |  | 62282 |
|  Paramark KB Fund No.1 |  | 133926 |  | 28 |  | 136324 |  | 133898 |  | 23219 |  |  |  | 23219 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** |
|  | **Total**<br>**assets** | **Total**<br>**assets** | **Total<br>liabilities** | **Total<br>liabilities** | **Paid-in<br>capital** | **Paid-in<br>capital** | **Equity** | **Equity** | **Share of**<br>**net asset<br>amount** | **Share of**<br>**net asset<br>amount** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Consolidated<br>carrying**<br>**amount** | **Consolidated<br>carrying**<br>**amount** |
|  KB Co-Investment Private Equity Fund No.1 | W | 224659 | W | 417 | W | 217807 | W | 224242 | W | 15968 | W |  | W | 15968 |
|  POSITIVE Sobujang Venture Fund No.1 |  | 2003 |  | 26 |  | 2000 |  | 1977 |  | 869 |  |  |  | 869 |
|  History 2022 Fintech Fund |  | 5507 |  | 55 |  | 5750 |  | 5452 |  | 1896 |  |  |  | 1896 |
|  KB-NP Green ESG New Technology Venture Capital Fund |  | 133929 |  | 775 |  | 138872 |  | 133154 |  | 38592 |  |  |  | 38592 |
|  TMAP Mobility Co., Ltd. |  | 797292 |  | 163070 |  | 8681 |  | 634222 |  | 52287 |  | 129713 |  | 182000 |
|  Nextrade Co., Ltd. |  | 125776 |  | 2563 |  | 146100 |  | 123213 |  | 8180 |  |  |  | 8180 |
|  Shinhan Global Mobility Fund No.1 |  | 5320 |  | 51 |  | 5700 |  | 5269 |  | 1294 |  |  |  | 1294 |
|  SKB Next Unicorn K-Battery Fund No.1 |  | 7446 |  |  |  | 7700 |  | 7446 |  | 1850 |  |  |  | 1850 |
|  MW-Pyco NewWave New Technology Investment Fund 4th |  | 3747 |  |  |  | 3900 |  | 3747 |  | 1922 |  |  |  | 1922 |
|  Bitgoeul Cheomdan Green 1st Co., Ltd. |  | 1274 |  | 5 |  | 1800 |  | 1269 |  | 241 |  |  |  | 241 |
|  KB-SUSUNG 1st Investment Fund |  | 14590 |  |  |  | 10760 |  | 14590 |  | 2188 |  |  |  | 2188 |
|  Shinhan-Eco Venture Fund 2nd |  | 9868 |  | 3 |  | 10250 |  | 9865 |  | 1973 |  |  |  | 1973 |
|  Leading H2O Fund 1 |  | 3018 |  | 1 |  | 3110 |  | 3017 |  | 1455 |  |  |  | 1455 |
|  2023 JB Newtech No.2 Fund |  | 6634 |  | 3 |  | 5466 |  | 6631 |  | 1705 |  |  |  | 1705 |
|  U-KB Credit No.1 Private Equity |  | 24988 |  | 974 |  | 21900 |  | 24014 |  | 8006 |  |  |  | 8006 |
|  KB-BridgePole Venture Investment Fund No.2 |  | 10244 |  |  |  | 10500 |  | 10244 |  | 1463 |  |  |  | 1463 |
|  Sirius Silicon Valley I New Technology Fund |  | 1994 |  | 1 |  | 2100 |  | 1993 |  | 474 |  |  |  | 474 |
|  FineKB Private Equity Fund No.2 |  | 29324 |  | 78 |  | 29501 |  | 29246 |  | 248 |  |  |  | 248 |
|  Timefolio Athleisure Investment Fund |  | 8140 |  |  |  | 8300 |  | 8140 |  | 3923 |  |  |  | 3923 |
|  VIG Private Equity Fund V-3 |  | 4131 |  | 5 |  | 4131 |  | 4126 |  | 4126 |  | (2490) |  | 1636 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** | **December 31, 2024 \*** |
|  | **Total**<br>**assets** | **Total**<br>**assets** | **Total<br>liabilities** | **Total<br>liabilities** | **Paid-in<br>capital** | **Paid-in<br>capital** | **Equity** | **Equity** | **Share of**<br>**net asset<br>amount** | **Share of**<br>**net asset<br>amount** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Unrealized**<br>**gains (losses)**<br>**and others** | **Consolidated<br>carrying**<br>**amount** | **Consolidated<br>carrying**<br>**amount** |
|  COMPA Global Scale-Up Fund No.3 | W | 3266 | W |  | W | 3334 | W | 3266 | W | 980 | W |  | W | 980 |
|  AKK Robotech Valueup New Technology Investment Fund |  | 22651 |  | 6 |  | 20100 |  | 22645 |  | 1127 |  |  |  | 1127 |
|  YG MCE PROJECT NO.1 Fund |  | 5317 |  |  |  | 5400 |  | 5317 |  | 1477 |  |  |  | 1477 |
|  HI YG Win-win Fund No.2 |  | 9568 |  |  |  | 9700 |  | 9568 |  | 1973 |  |  |  | 1973 |
|  KB-CJ Venture Fund 1st |  | 4333 |  | 1 |  | 4500 |  | 4332 |  | 1733 |  |  |  | 1733 |
|  Elohim-Bilanx aerospace No.1 Fund |  | 9451 |  | 5 |  | 9550 |  | 9446 |  | 1978 |  |  |  | 1978 |
|  KB-SUSUNG 2nd Investment Fund |  | 15649 |  |  |  | 15800 |  | 15649 |  | 1981 |  |  |  | 1981 |
|  IMM global Secondary 1-1 Equity Private Fund |  | 9503 |  | 490 |  | 6769 |  | 9013 |  | 3754 |  |  |  | 3754 |
|  LIB Material Investment Fund |  | 5787 |  |  |  | 31387 |  | 5787 |  | 1475 |  |  |  | 1475 |
|  NOVORSEC-SJG Consumer Secondary Fund |  | 6949 |  |  |  | 7000 |  | 6949 |  | 1688 |  |  |  | 1688 |
|  Allra Fintech Corp. |  | 185699 |  | 175310 |  | 174 |  | 10389 |  | 1638 |  | 7046 |  | 8684 |
|  Reboot Private Equity Fund |  | 32376 |  | 127 |  | 32500 |  | 32249 |  | 6946 |  |  |  | 6946 |
|  KB-SBI Global Strategic Capital Fund |  | 30205 |  | 575 |  | 31046 |  | 29630 |  | 10782 |  | 2 |  | 10784 |
|  KB-Cyrus Tourism Venture Fund |  | 5277 |  |  |  | 5400 |  | 5277 |  | 977 |  |  |  | 977 |
|  IBKS Design Fund |  | 4292 |  |  |  | 4300 |  | 4292 |  | 1996 |  |  |  | 1996 |
|  NICE DATA INTELLIGENCE VENTURE FUND |  | 4241 |  |  |  | 4250 |  | 4241 |  | 998 |  |  |  | 998 |
|  Pectus Hanhwa Fund 2 |  | 6631 |  |  |  | 6800 |  | 6631 |  | 1950 |  |  |  | 1950 |
|  KB-IMM New Star Real Estate Private Fund I |  | 53736 |  | 110 |  | 51177 |  | 53626 |  | 33074 |  |  |  | 33074 |
|  Korea Environment Technology Co., Ltd. |  | 232104 |  | 54581 |  | 25000 |  | 177523 |  | 43156 |  | 64272 |  | 107428 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** |
|  | **Operating**<br>**revenue** | **Operating**<br>**revenue** | **Net profit**<br>**(loss)** | **Net profit**<br>**(loss)** | **Other**<br>**comprehensive**<br>**income (loss)** | **Other**<br>**comprehensive**<br>**income (loss)** | **Total**<br>**comprehensive**<br>**income (loss)** | **Total**<br>**comprehensive**<br>**income (loss)** | **Dividends** | **Dividends** |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund | W | 398 | W | (541) | W |  | W | (541) | W |  |
|  Balhae Infrastructure Company |  | 63727 |  | 70486 |  |  |  | 70486 |  | 1541 |
|  Aju Good Technology Venture Fund |  | 3396 |  | (7447) |  |  |  | (7447) |  | 2120 |
|  Incheon Bridge Co., Ltd. |  | 171687 |  | 66701 |  |  |  | 66701 |  |  |
|  Big Dipper Co., Ltd. |  | 251 |  | (346) |  |  |  | (346) |  |  |
|  Food Factory Co., Ltd. |  | 8804 |  | 428 |  |  |  | 428 |  |  |
|  KBSP Private Equity Fund No.4 |  | 8363 |  | 8143 |  |  |  | 8143 |  |  |
|  Korea Credit Bureau Co., Ltd. |  | 175338 |  | 26589 |  |  |  | 26589 |  | 90 |
|  KB Social Impact Investment Fund |  | 476 |  | (4465) |  |  |  | (4465) |  |  |
|  KB-Solidus Global Healthcare Fund |  | 11049 |  | (114) |  |  |  | (114) |  | 910 |
|  POSCO-KB Shipbuilding Fund |  | 944 |  | (4848) |  |  |  | (4848) |  |  |
|  KB-TS Technology Venture Private Equity Fund |  | 1832 |  | 946 |  |  |  | 946 |  |  |
|  KB-SJ Tourism Venture Fund |  | 26720 |  | 22068 |  |  |  | 22068 |  | 1517 |
|  UNION Media Commerce Fund |  |  |  | (23) |  |  |  | (23) |  |  |
|  KB-Stonebridge Secondary Private Equity Fund |  | 6646 |  | (8923) |  |  |  | (8923) |  | 52 |
|  KB SPROTT Renewable Private Equity Fund No.1 |  | 1 |  | (681) |  |  |  | (681) |  |  |
|  KB-UTC Inno-Tech Venture Fund |  | 963 |  | (2620) |  | (561) |  | (3181) |  |  |
|  WJ Private Equity Fund No.1 |  | 425 |  | (222) |  |  |  | (222) |  |  |
|  All Together Korea Fund No.2 |  | 313 |  | 307 |  |  |  | 307 |  |  |
|  KB-NAU Special Situation Corporate Restructuring Private Equity Fund |  | 24534 |  | (28117) |  |  |  | (28117) |  |  |
|  2020 KB Fintech Renaissance Fund |  | 868 |  | 714 |  |  |  | 714 |  |  |
|  FineKB Private Equity Fund No.1 |  | 4809 |  | 3028 |  |  |  | 3028 |  | 32 |
|  G payment Joint Stock Company |  | 1411 |  | (944) |  |  |  | (944) |  |  |
|  KB-GeneN Medical Venture Fund No.1 |  |  |  | (187) |  |  |  | (187) |  |  |
|  DA-Friend New Technology Investment Fund No.2 |  |  |  | (79) |  |  |  | (79) |  |  |
|  Cornerstone Pentastone Fund No.4 |  |  |  | (50) |  |  |  | (50) |  |  |
|  Star-Lord General Investors Private Real Estate Investment Company No.10 |  | 18279 |  | (4135) |  |  |  | (4135) |  |  |
|  KB-Badgers Future Mobility ESG Fund No.1 |  | 954 |  | (8304) |  |  |  | (8304) |  | 2 |
|  JS Private Equity Fund No.3 |  | 309 |  | (1778) |  |  |  | (1778) |  |  |
|  Mirae Asset Mobility Investment Fund No.1 |  | 14 |  | (135) |  |  |  | (135) |  |  |
|  KB-FT Green Growth 1st Technology Investment Association |  | 12 |  | (379) |  |  |  | (379) |  |  |
|  Glenwood Credit Private Equity Fund No.2 |  | 10374 |  | 9632 |  |  |  | 9632 |  | 2430 |
|  THE CHAEUL FUND NO.1 |  | 1 |  | (58) |  |  |  | (58) |  |  |
|  Smart Korea KB Future9-Sejong Venture Fund |  | 37 |  | (190) |  |  |  | (190) |  |  |
|  KB-KTB Technology Venture Fund |  | 693 |  | (3031) |  |  |  | (3031) |  |  |
|  KB-SOLIDUS Healthcare Investment Fund |  | 40 |  | (1284) |  |  |  | (1284) |  |  |
|  Paramark KB Fund No.1 |  | 12737 |  | 8329 |  |  |  | 8329 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.2 Condensed financial information, adjustments to the carrying amount, and dividends from major investments in associates and joint ventures as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** |
|  | **Operating**<br>**revenue** | **Operating**<br>**revenue** | **Net profit**<br>**(loss)** | **Net profit**<br>**(loss)** | **Other**<br>**comprehensive**<br>**income (loss)** | **Total**<br>**comprehensive**<br>**income (loss)** | **Total**<br>**comprehensive**<br>**income (loss)** | **Dividends** | **Dividends** |
|  KB Co-Investment Private Equity Fund No.1 | W | 24679 | W | 23302 | W | W | 23302 | W |  |
|  POSITIVE Sobujang Venture Fund No.1 |  | 5742 |  | 4900 |  |  | 4900 |  | 2129 |
|  History 2022 Fintech Fund |  | 1 |  | (120) |  |  | (120) |  |  |
|  KB-NP Green ESG New Technology Venture Capital Fund |  | 767 |  | (2197) |  |  | (2197) |  |  |
|  TMAP Mobility Co., Ltd. |  | 321542 |  | (58287) |  |  | (58287) |  |  |
|  Nextrade Co., Ltd. |  | 3856 |  | (15737) |  |  | (15737) |  |  |
|  Shinhan Global Mobility Fund No.1 |  |  |  | (120) |  |  | (120) |  |  |
|  SKB Next Unicorn K-Battery Fund No.1 |  |  |  | (162) |  |  | (162) |  |  |
|  MW-Pyco NewWave New Technology Investment Fund 4th |  | 1 |  | (84) |  |  | (84) |  |  |
|  Bitgoeul Cheomdan Green 1st Co., Ltd. |  | 1 |  | (396) |  |  | (396) |  |  |
|  KB-SUSUNG 1st Investment Fund |  | 5164 |  | 4140 |  |  | 4140 |  |  |
|  Shinhan-Eco Venture Fund 2nd |  |  |  | (260) |  |  | (260) |  |  |
|  Leading H2O Fund 1 |  | 3 |  | (71) |  |  | (71) |  |  |
|  2023 JB Newtech No.2 Fund |  | 2533 |  | 1804 |  |  | 1804 |  | 150 |
|  U-KB Credit No.1 Private Equity |  | 4487 |  | 2263 |  |  | 2263 |  |  |
|  KB-BridgePole Venture Investment Fund No.2 |  | 4 |  | (216) |  |  | (216) |  |  |
|  Sirius Silicon Valley I New Technology Fund |  | 10 |  | (45) |  |  | (45) |  |  |
|  FineKB Private Equity Fund No.2 |  | 4 |  | (255) |  |  | (255) |  |  |
|  Timefolio Athleisure Investment Fund |  | 6 |  | (160) |  |  | (160) |  |  |
|  VIG Private Equity Fund V-3 |  |  |  | (5) |  |  | (5) |  |  |
|  COMPA Global Scale-Up Fund No.3 |  | 9 |  | (68) |  |  | (68) |  |  |
|  AKK Robotech Valueup New Technology Investment Fund |  | 2976 |  | 2545 |  |  | 2545 |  |  |
|  YG MCE PROJECT NO.1 Fund |  | 2 |  | (83) |  |  | (83) |  |  |
|  HI YG Win-win Fund No.2 |  | 4 |  | (132) |  |  | (132) |  |  |
|  KB-CJ Venture Fund 1st |  | 34 |  | (168) |  |  | (168) |  |  |
|  Elohim-Bilanx aerospace No.1 Fund |  | 2 |  | (104) |  |  | (104) |  |  |
|  KB-SUSUNG 2nd Investment Fund |  | 43 |  | (151) |  |  | (151) |  |  |
|  IMM global Secondary 1-1 Equity Private Fund |  | 2318 |  | 2245 |  |  | 2245 |  |  |
|  LIB Material Investment Fund |  |  |  | (19096) |  |  | (19096) |  |  |
|  NOVORSEC-SJG Consumer Secondary Fund |  | 7 |  | (51) |  |  | (51) |  |  |
|  Allra Fintech Corp. |  | 6475 |  | 966 |  |  | 966 |  |  |
|  Reboot Private Equity Fund |  | 1 |  | (251) |  |  | (251) |  |  |
|  KB-SBI Global Strategic Capital Fund |  | 2 |  | (1416) |  |  | (1416) |  |  |
|  KB-Cyrus Tourism Venture Fund |  | 5 |  | (123) |  |  | (123) |  |  |
|  IBKS Design Fund |  |  |  | (8) |  |  | (8) |  |  |
|  NICE DATA INTTELIGENCE VENTURE FUND |  |  |  | (9) |  |  | (9) |  |  |
|  Pectus Hanhwa Fund 2 |  |  |  | (169) |  |  | (169) |  |  |
|  KB-IMM New Star Real Estate Private Fund I |  | 2681 |  | 2449 |  |  | 2449 |  |  |
|  Korea Environment Technology Co., Ltd. |  | 63024 |  | 21181 |  |  | 21181 |  |  |

---

\* The condensed financial information of the associates and joint ventures is adjusted to reflect adjustments, such as fair value adjustments recognized at the time of acquisition and adjustments for differences in accounting policies.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.3 Changes in carrying amount of investments in associates and joint ventures for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** |
|  | **Beginning** | **Beginning** | **Acquisition**<br>**and others** | **Acquisition**<br>**and others** | **Disposal**<br>**and others** | **Disposal**<br>**and others** | **Dividends** | **Dividends** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Others** | **Others** | **Ending** | **Ending** |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund | W | 5203 | W |  | W | (4101) | W | (60) | W | 1770 | W |  | W |  | W | 2812 |
|  Balhae Infrastructure Company |  | 139015 |  |  |  | (15199) |  | (13039) |  | (3954) |  |  |  |  |  | 106823 |
|  Aju Good Technology Venture Fund |  | 9313 |  |  |  |  |  | (780) |  | 560 |  |  |  |  |  | 9093 |
|  Incheon Bridge Co., Ltd. |  |  |  |  |  |  |  |  |  | 7383 |  |  |  |  |  | 7383 |
|  Big Dipper Co., Ltd. |  | 32 |  |  |  |  |  |  |  | (32) |  |  |  |  |  |  |
|  Food Factory Co., Ltd. |  | 1541 |  |  |  |  |  |  |  |  |  |  |  | (1211) |  | 330 |
|  KBSP Private Equity Fund No.4 |  | 3994 |  |  |  | (3994) |  |  |  |  |  |  |  |  |  |  |
|  Korea Credit Bureau Co., Ltd. |  | 7949 |  |  |  |  |  | (90) |  | 3133 |  |  |  |  |  | 10992 |
|  KB Social Impact Investment Fund |  | 3513 |  |  |  |  |  |  |  | 385 |  |  |  |  |  | 3898 |
|  KB-Solidus Global Healthcare Fund |  | 17525 |  |  |  | (1170) |  | (17247) |  | 2891 |  |  |  |  |  | 1999 |
|  VIG Private Equity Fund V-3 |  | 1636 |  | 2848 |  |  |  |  |  | (216) |  |  |  |  |  | 4268 |
|  KB-Badgers Future Mobility ESG Fund No.1 |  | 13108 |  | 1350 |  |  |  | (3) |  | (1169) |  |  |  |  |  | 13286 |
|  POSCO-KB Shipbuilding Fund |  | 3223 |  |  |  | (250) |  |  |  | (607) |  |  |  |  |  | 2366 |
|  KB-TS Technology Venture Private Equity Fund |  | 11129 |  |  |  |  |  |  |  | (1593) |  |  |  |  |  | 9536 |
|  KB-KTB Technology Venture Fund |  | 25448 |  |  |  |  |  |  |  | (863) |  |  |  |  |  | 24585 |
|  KB-SOLIDUS Healthcare Investment Fund |  | 62282 |  | 23568 |  |  |  |  |  | 1377 |  | 1961 |  |  |  | 89188 |
|  KB Co-Investment Private Equity Fund No.1 |  | 15967 |  | 3887 |  | (2874) |  | (472) |  | 851 |  |  |  |  |  | 17359 |
|  KB-SJ Tourism Venture Fund |  | 1781 |  |  |  | (190) |  | (334) |  | 261 |  |  |  |  |  | 1518 |
|  UNION Media Commerce Fund |  | 945 |  |  |  |  |  |  |  | (4) |  |  |  |  |  | 941 |
|  KB-Stonebridge Secondary Private Equity Fund |  | 16867 |  |  |  | (4369) |  | (217) |  | (273) |  |  |  |  |  | 12008 |
|  KB SPROTT Renewable Private Equity Fund No.1 |  | 7640 |  |  |  | (4588) |  |  |  | (2230) |  |  |  |  |  | 822 |
|  KB-UTC Inno-Tech Venture Fund |  | 15482 |  |  |  |  |  |  |  | (4333) |  |  |  | (2425) |  | 8724 |
|  WJ Private Equity Fund No.1 |  | 9422 |  |  |  |  |  |  |  | 103 |  |  |  |  |  | 9525 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.3 Changes in carrying amount of investments in associates and joint ventures for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** |
|  | **Beginning** | **Beginning** | **Acquisition**<br>**and others** | **Acquisition**<br>**and others** | **Disposal**<br>**and others** | **Disposal**<br>**and others** | **Dividends** | **Dividends** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Others** | **Others** | **Ending** | **Ending** |
|  All Together Korea Fund No.2 | W | 10848 | W |  | W |  | W |  | W | 178 | W |  | W | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | W | 11026 |
|  KB-NAU Special Situation Corporate Restructuring Private Equity Fund |  | 16044 |  | 3600 |  | (3402) |  |  |  | 3697 |  |  |  |  |  | 19939 |
|  2020 KB Fintech Renaissance Fund |  | 1077 |  |  |  | (166) |  |  |  | (20) |  |  |  |  |  | 891 |
|  FineKB Private Equity Fund No.1 |  | 13712 |  | 2335 |  | (11875) |  | (32) |  | 5718 |  |  |  |  |  | 9858 |
|  FineKB Private Equity Fund No.2 |  | 248 |  |  |  |  |  |  |  | (3) |  |  |  |  |  | 245 |
|  Paramark KB Fund No.1 |  | 23219 |  | 5490 |  | (1234) |  |  |  | (94) |  |  |  |  |  | 27381 |
|  G payment Joint Stock Company |  | 2521 |  |  |  |  |  |  |  |  |  |  |  | (135) |  | 2386 |
|  TMAP Mobility Co., Ltd. |  | 182000 |  |  |  |  |  |  |  | (882) |  | 1339 |  |  |  | 182457 |
|  KB-GeneN Medical Venture Fund No.1 |  | 1881 |  |  |  |  |  |  |  | (43) |  |  |  |  |  | 1838 |
|  DA-Friend New Technology Investment Fund No.2 |  | 907 |  |  |  |  |  |  |  | (5) |  |  |  |  |  | 902 |
|  Cornerstone Pentastone Fund No.4 |  | 764 |  |  |  |  |  |  |  | (1) |  |  |  |  |  | 763 |
|  JS Private Equity Fund No.3 |  | 743 |  |  |  | (749) |  |  |  | 417 |  |  |  |  |  | 411 |
|  Mirae Asset Mobility Investment Fund No.1 |  | 1918 |  |  |  |  |  |  |  | (33) |  |  |  |  |  | 1885 |
|  KB-FT Green Growth 1st Technology Investment Association |  | 1889 |  |  |  |  |  |  |  | (42) |  |  |  |  |  | 1847 |
|  THE CHAEUL FUND NO.1 |  | 954 |  |  |  | (954) |  |  |  |  |  |  |  |  |  |  |
|  Glenwood Credit Private Equity Fund No.2 |  | 44380 |  |  |  |  |  | (2425) |  | 1932 |  |  |  |  |  | 43887 |
|  POSITIVE Sobujang Venture Fund No.1 |  | 869 |  |  |  | (869) |  |  |  |  |  |  |  |  |  |  |
|  History 2022 Fintech Fund |  | 1896 |  |  |  | (1896) |  |  |  |  |  |  |  |  |  |  |
|  Nextrade Co., Ltd. |  | 8180 |  |  |  |  |  |  |  | 194 |  |  |  |  |  | 8374 |
|  KB-NP Green ESG New Technology Venture Capital Fund |  | 38592 |  | 8700 |  | (2840) |  |  |  | 2203 |  |  |  |  |  | 46655 |
|  MW-Pyco NewWave New Technology Investment Fund 4th |  | 1922 |  |  |  |  |  |  |  | (1922) |  |  |  |  |  |  |
|  KB-SUSUNG 1st Investment Fund |  | 2188 |  |  |  | (1419) |  |  |  | 64 |  |  |  |  |  | 833 |
|  Bitgoeul Cheomdan Green 1st Co., Ltd. |  | 241 |  |  |  |  |  |  |  | (1) |  |  |  |  |  | 240 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.3 Changes in carrying amount of investments in associates and joint ventures for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** |
|  | **Beginning** | **Beginning** | **Acquisition**<br>**and others** | **Acquisition**<br>**and others** | **Disposal**<br>**and<br>others** | **Disposal**<br>**and<br>others** | **Dividends** | **Dividends** | **Gains<br>(losses)<br>on equity-<br>method<br>accounting** | **Gains<br>(losses)<br>on equity-<br>method<br>accounting** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Others** | **Ending** | **Ending** |
|  Shinhan-Eco Venture Fund 2nd | W | 1973 | W | 25 | W | (190) | W |  | W | (1) | W | W | W | 1807 |
|  Leading H2O Fund 1 |  | 1455 |  |  |  |  |  |  |  | (34) |  |  |  | 1421 |
|  2023 JB Newtech No.2 Fund |  | 1706 |  |  |  | (1705) |  |  |  | (1) |  |  |  |  |
|  KB-BridgePole Venture Investment Fund No.2 |  | 1463 |  |  |  |  |  |  |  | (31) |  |  |  | 1432 |
|  Sirius Silicon Valley I New Technology Fund |  | 474 |  |  |  |  |  |  |  | (11) |  |  |  | 463 |
|  Timefolio Athleisure Investment Fund |  | 3923 |  |  |  |  |  |  |  | (173) |  |  |  | 3750 |
|  COMPA Global Scale-Up Fund No.3 |  | 980 |  |  |  |  |  |  |  | (23) |  |  |  | 957 |
|  AKK Robotech Valueup New Technology Investment Fund |  | 1127 |  |  |  | (1127) |  |  |  |  |  |  |  |  |
|  YG MCE PROJECT NO.1 Fund |  | 1477 |  |  |  |  |  |  |  | (1477) |  |  |  |  |
|  HI YG Win-win Fund No.2 |  | 1973 |  |  |  |  |  |  |  | 181 |  |  |  | 2154 |
|  KB-CJ Venture Fund 1st |  | 1733 |  |  |  |  |  |  |  | 136 |  |  |  | 1869 |
|  Elohim-Bilanx aerospace No.1 Fund |  | 1978 |  |  |  |  |  |  |  | (41) |  |  |  | 1937 |
|  KB-SUSUNG 2nd Investment Fund |  | 1981 |  |  |  |  |  |  |  | (22) |  |  |  | 1959 |
|  IMM global Secondary 1-1 Equity Private Fund |  | 3754 |  | 756 |  | (162) |  | (4) |  | 631 |  |  |  | 4975 |
|  LIB Material Investment Fund |  | 1475 |  |  |  |  |  |  |  | (646) |  |  |  | 829 |
|  NOVORSEC-SJG Consumer Secondary Fund |  | 1688 |  |  |  | (1688) |  |  |  |  |  |  |  |  |
|  U-KB Credit No.1 Private Equity |  | 8004 |  | 17133 |  |  |  |  |  | (3397) |  |  |  | 21740 |
|  Smart Korea KB Future9-Sejong Venture Fund |  | 2325 |  | 2000 |  |  |  |  |  | (8) |  |  |  | 4317 |
|  Allra Fintech Corp. |  | 8684 |  | 15 |  |  |  |  |  | 114 |  |  |  | 8813 |
|  Shinhan Global Mobility Fund No.1 |  | 1294 |  |  |  |  |  |  |  | (29) |  |  |  | 1265 |
|  SKB Next Unicorn K-Battery Fund No.1 |  | 1850 |  |  |  |  |  |  |  | (40) |  |  |  | 1810 |
|  Reboot Private Equity Fund |  | 6946 |  |  |  |  |  |  |  | (107) |  |  |  | 6839 |
|  KB-SBI Global Strategic Capital Fund |  | 10784 |  | 22813 |  |  |  |  |  | (886) |  |  |  | 32711 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.3 Changes in carrying amount of investments in associates and joint ventures for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** | **2025 \*** |
|  | **Beginning** | **Beginning** | **Acquisition**<br>**and others** | **Acquisition**<br>**and others** | **Disposal**<br>**and others** | **Disposal**<br>**and others** | **Dividends** | **Dividends** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Others** | **Others** | **Ending** | **Ending** |
|  KB-Cyrus Tourism Venture Fund | W | 977 | W | 1000 | W |  | W |  | W | (122) | W |  | W |  | W | 1855 |
|  IBKS Design Fund |  | 1996 |  |  |  |  |  |  |  | 2815 |  |  |  |  |  | 4811 |
|  NICE DATA INTELLIGENCE VENTURE FUND |  | 998 |  |  |  | (998) |  |  |  |  |  |  |  |  |  |  |
|  Pectus Hanhwa Fund 2 |  | 1950 |  |  |  | (1950) |  |  |  |  |  |  |  |  |  |  |
|  KB-IMM New Star Real Estate Private Fund I |  | 33073 |  | 29282 |  |  |  | (2824) |  | 3491 |  |  |  |  |  | 63022 |
|  Korea Environment Technology Co., Ltd. |  | 107428 |  |  |  | (107428) |  |  |  |  |  |  |  |  |  |  |
|  KB-LB Middle Market Enterprises Innovation Private Equity Fund |  |  |  | 8137 |  |  |  |  |  | (1064) |  |  |  |  |  | 7073 |
|  YG Al Industrial Automation Solutions FUND |  |  |  | 2000 |  |  |  |  |  | (8) |  |  |  |  |  | 1992 |
|  Semicolon Susong REITs Co., Ltd. |  |  |  | 86292 |  |  |  | (961) |  |  |  |  |  |  |  | 85331 |
|  KB-Novus Genesis Private Equity Fund |  |  |  | 2300 |  |  |  |  |  | (33) |  |  |  |  |  | 2267 |
|  ATP TP VC Fund No.1 |  |  |  | 2000 |  |  |  |  |  | (24) |  |  |  |  |  | 1976 |
|  AIM-KB-DOUBLE Connected Future Investment Fund |  |  |  | 1000 |  |  |  |  |  | (16) |  |  |  |  |  | 984 |
|  KB-IMM New Star Real Estate Private Fund II |  |  |  | 26337 |  |  |  | (220) |  | 244 |  |  |  |  |  | 26361 |
|  K-1 23rd yeoksam Real Estate Investment Trust company Ltd. |  |  |  | 61901 |  |  |  | (2334) |  | 2857 |  |  |  |  |  | 62424 |
|  IMM Korea Beauty Co-Invest Private Equity Fund |  |  |  | 50000 |  |  |  |  |  | (367) |  |  |  |  |  | 49633 |
|  VP Inc. |  |  |  | 14312 |  |  |  |  |  |  |  |  |  |  |  | 14312 |
|  DAYLI Fountainhead Blind Private Equity Fund II |  |  |  | 11250 |  |  |  | (19) |  | (485) |  |  |  |  |  | 10746 |
|  KB-ANDA Deep Tech Venture Fund |  |  |  | 1250 |  |  |  |  |  |  |  |  |  |  |  | 1250 |
|  E&I Holdings |  |  |  | 27300 |  | (27300) |  |  |  |  |  |  |  |  |  |  |
|  Others |  | 1913 |  | 780 |  | (41) |  |  |  | 153 |  | (5) |  | 25 |  | 2825 |
|  |  | 947390 |  | 419661 |  | (204728) |  | (41061) |  | 16373 |  | 3295 |  | (3746) |  | 1137184 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.3 Changes in carrying amount of investments in associates and joint ventures for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** |
|  | **Beginning** | **Beginning** | **Acquisition**<br>**and others** | **Acquisition**<br>**and others** | **Disposal**<br>**and<br>others** | **Disposal**<br>**and<br>others** | **Dividends** | **Dividends** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Others** | **Ending** | **Ending** |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund | W | 6063 | W |  | W | (600) | W |  | W | (260) | W |  | W | W | 5203 |
|  Balhae Infrastructure Company |  | 93766 |  | 48051 |  | (4810) |  | (1541) |  | 3549 |  |  |  |  | 139015 |
|  Aju Good Technology Venture Fund |  | 14296 |  |  |  |  |  | (2120) |  | (2863) |  |  |  |  | 9313 |
|  Big Dipper Co., Ltd. |  | 94 |  |  |  |  |  |  |  | (62) |  |  |  |  | 32 |
|  Food Factory Co., Ltd. |  | 1483 |  |  |  |  |  |  |  | 57 |  | 1 |  |  | 1541 |
|  KBSP Private Equity Fund No.4 |  | 2494 |  |  |  |  |  |  |  | 832 |  | 668 |  |  | 3994 |
|  Korea Credit Bureau Co., Ltd. |  | 5617 |  |  |  |  |  | (90) |  | 2422 |  |  |  |  | 7949 |
|  KB Social Impact Investment Fund |  | 4853 |  |  |  |  |  |  |  | (1340) |  |  |  |  | 3513 |
|  KB-Solidus Global Healthcare Fund |  | 18485 |  |  |  |  |  | (910) |  | (50) |  |  |  |  | 17525 |
|  POSCO-KB Shipbuilding Fund |  | 4738 |  |  |  |  |  |  |  | (1515) |  |  |  |  | 3223 |
|  KB-TS Technology Venture Private Equity Fund |  | 12372 |  |  |  | (2464) |  |  |  | 1221 |  |  |  |  | 11129 |
|  KB-Brain KOSDAQ Scale-up New Technology Business Investment Fund |  | 5395 |  |  |  | (2460) |  | (3152) |  | 217 |  |  |  |  |  |
|  KB-SJ Tourism Venture Fund |  | 3242 |  |  |  | (4031) |  | (1517) |  | 4087 |  |  |  |  | 1781 |
|  UNION Media Commerce Fund |  | 952 |  |  |  |  |  |  |  | (7) |  |  |  |  | 945 |
|  KB-Stonebridge Secondary Private Equity Fund |  | 18885 |  |  |  | (666) |  | (52) |  | (1300) |  |  |  |  | 16867 |
|  KB SPROTT Renewable Private Equity Fund No.1 |  | 15910 |  |  |  | (8350) |  |  |  | 80 |  |  |  |  | 7640 |
|  KB-UTC Inno-Tech Venture Fund |  | 17977 |  |  |  | (275) |  |  |  | (2054) |  | (166) |  |  | 15482 |
|  WJ Private Equity Fund No.1 |  | 9482 |  |  |  |  |  |  |  | (60) |  |  |  |  | 9422 |
|  All Together Korea Fund No.2 |  | 10541 |  |  |  |  |  |  |  | 307 |  |  |  |  | 10848 |
|  KB-NAU Special Situation Corporate Restructuring Private Equity Fund |  | 17810 |  | 8964 |  | (7778) |  |  |  | (2952) |  |  |  |  | 16044 |
|  2020 KB Fintech Renaissance Fund |  | 1041 |  |  |  |  |  |  |  | 36 |  |  |  |  | 1077 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.3 Changes in carrying amount of investments in associates and joint ventures for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** |
|  | **Beginning** | **Beginning** | **Acquisition**<br>**and others** | **Acquisition**<br>**and others** | **Disposal**<br>**and<br>others** | **Disposal**<br>**and<br>others** | **Dividends** | **Dividends** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Others** | **Others** | **Ending** | **Ending** |
|  KB Material and Parts No.1 PEF | W | 3300 | W |  | W | (3300) | W |  | W |  | W |  | W | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | W |  |
|  FineKB Private Equity Fund No.1 |  | 7697 |  | 6790 |  | (1500) |  | (32) |  | 757 |  |  |  |  |  | 13712 |
|  G payment Joint Stock Company |  | 8966 |  |  |  | (1505) |  |  |  | (5373) |  |  |  | 433 |  | 2521 |
|  KB-GeneN Medical Venture Fund No.1 |  | 1923 |  |  |  |  |  |  |  | (42) |  |  |  |  |  | 1881 |
|  KB-BridgePole Venture Investment Fund |  | 863 |  |  |  | (863) |  |  |  |  |  |  |  |  |  |  |
|  KB-Kyobo New Mobility Power Fund |  | 2622 |  |  |  | (2622) |  |  |  |  |  |  |  |  |  |  |
|  DA-Friend New Technology Investment Fund No.2 |  | 928 |  |  |  |  |  |  |  | (21) |  |  |  |  |  | 907 |
|  Cornerstone Pentastone Fund No.4 |  | 775 |  |  |  |  |  |  |  | (11) |  |  |  |  |  | 764 |
|  KB-Badgers Future Mobility ESG Fund No.1 |  | 6105 |  | 10401 |  |  |  | (2) |  | (3396) |  |  |  |  |  | 13108 |
|  JS Private Equity Fund No.3 |  | 1862 |  |  |  | (755) |  |  |  | (364) |  |  |  |  |  | 743 |
|  Mirae Asset Mobility Investment Fund No.1 |  | 1949 |  |  |  |  |  |  |  | (31) |  |  |  |  |  | 1918 |
|  KB-FT Green Growth 1st Technology Investment Association |  | 1928 |  |  |  |  |  |  |  | (39) |  |  |  |  |  | 1889 |
|  Glenwood Credit Private Equity Fund No.2 |  | 43922 |  |  |  |  |  | (2430) |  | 2888 |  |  |  |  |  | 44380 |
|  THE CHAEUL FUND NO.1 |  | 972 |  |  |  |  |  |  |  | (18) |  |  |  |  |  | 954 |
|  Smart Korea KB Future9-Sejong Venture Fund |  | 2398 |  |  |  |  |  |  |  | (73) |  |  |  |  |  | 2325 |
|  KB-KTB Technology Venture Fund |  | 21391 |  | 5600 |  |  |  |  |  | (1543) |  |  |  |  |  | 25448 |
|  KB-SOLIDUS Healthcare Investment Fund |  | 40172 |  | 23270 |  |  |  |  |  | (1160) |  |  |  |  |  | 62282 |
|  Paramark KB Fund No.1 |  | 13645 |  | 8130 |  |  |  |  |  | 1444 |  |  |  |  |  | 23219 |
|  KB Co-Investment Private Equity Fund No.1 |  | 9376 |  | 9131 |  | (3098) |  |  |  | 558 |  |  |  |  |  | 15967 |
|  POSITIVE Sobujang Venture Fund No.1 |  | 1965 |  |  |  | (1121) |  | (2129) |  | 2154 |  |  |  |  |  | 869 |
|  History 2022 Fintech Fund |  | 1938 |  |  |  |  |  |  |  | (42) |  |  |  |  |  | 1896 |
|  KB-NP Green ESG New Technology Venture Capital Fund |  | 19429 |  | 19800 |  |  |  |  |  | (637) |  |  |  |  |  | 38592 |
|  TMAP Mobility Co., Ltd. |  | 183572 |  |  |  |  |  |  |  | (1385) |  | (187) |  |  |  | 182000 |
|  Nextrade Co., Ltd. |  | 9225 |  |  |  |  |  |  |  | (1045) |  |  |  |  |  | 8180 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.3 Changes in carrying amount of investments in associates and joint ventures for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** |
|  | **Beginning** | **Beginning** | **Acquisition**<br>**and others** | **Acquisition**<br>**and others** | **Disposal**<br>**and others** | **Disposal**<br>**and others** | **Dividends** | **Dividends** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Others** | **Ending** | **Ending** |
|  Shinhan Global Mobility Fund No.1 | W | 1324 | W |  | W |  | W |  | W | (30) | W |  | W | W | 1294 |
|  SKB Next Unicorn K-Battery Fund No.1 |  | 1890 |  |  |  |  |  |  |  | (40) |  |  |  |  | 1850 |
|  Lakewood-AVES Fund No.1 |  | 1977 |  |  |  | (1977) |  |  |  |  |  |  |  |  |  |
|  MW-Pyco NewWave New Technology Investment Fund 4th |  | 1965 |  |  |  |  |  |  |  | (43) |  |  |  |  | 1922 |
|  Bitgoeul Cheomdan Green 1st Co., Ltd. |  | 165 |  | 152 |  |  |  |  |  | (75) |  | (1) |  |  | 241 |
|  KB-SUSUNG 1st Investment Fund |  | 2953 |  |  |  | (1386) |  |  |  | 621 |  |  |  |  | 2188 |
|  Friend 55 New Technology Business Investment Fund |  | 1182 |  |  |  | (1182) |  |  |  |  |  |  |  |  |  |
|  KY Global Cell & Gene Private Equity Fund 2nd |  | 26969 |  |  |  | (26969) |  |  |  |  |  |  |  |  |  |
|  DSIP-Pharos Bioenergy Fund |  | 16458 |  |  |  | (16458) |  |  |  |  |  |  |  |  |  |
|  Shinhan-Eco Venture Fund 2nd |  | 1800 |  | 225 |  |  |  |  |  | (52) |  |  |  |  | 1973 |
|  Leading H2O Fund 1 |  | 1489 |  |  |  |  |  |  |  | (34) |  |  |  |  | 1455 |
|  2023 JB Newtech No.2 Fund |  | 1786 |  |  |  | (394) |  | (150) |  | 464 |  |  |  |  | 1706 |
|  U-KB Credit No.1 Private Equity |  | 6850 |  | 400 |  |  |  |  |  | 754 |  |  |  |  | 8004 |
|  KB-BridgePole Venture Investment Fund No.2 |  | 1494 |  |  |  |  |  |  |  | (31) |  |  |  |  | 1463 |
|  Sirius Silicon Valley I New Technology Fund |  | 485 |  |  |  |  |  |  |  | (11) |  |  |  |  | 474 |
|  FineKB Private Equity Fund No.2 |  |  |  | 250 |  |  |  |  |  | (2) |  |  |  |  | 248 |
|  Timefolio Athleisure Investment Fund |  |  |  | 4000 |  |  |  |  |  | (77) |  |  |  |  | 3923 |
|  VIG Private Equity Fund V-3 |  |  |  | 1636 |  |  |  |  |  |  |  |  |  |  | 1636 |
|  COMPA Global Scale-Up Fund No.3 |  |  |  | 1000 |  |  |  |  |  | (20) |  |  |  |  | 980 |
|  AKK Robotech Valueup New Technology Investment Fund |  |  |  | 1000 |  |  |  |  |  | 127 |  |  |  |  | 1127 |
|  YG MCE PROJECT NO.1 Fund |  |  |  | 1500 |  |  |  |  |  | (23) |  |  |  |  | 1477 |
|  HI YG Win-win Fund No.2 |  |  |  | 2000 |  |  |  |  |  | (27) |  |  |  |  | 1973 |
|  KB-CJ Venture Fund 1st |  |  |  | 1800 |  |  |  |  |  | (67) |  |  |  |  | 1733 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.3 Changes in carrying amount of investments in associates and joint ventures for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** | **2024 \*** |
|  | **Beginning** | **Beginning** | **Acquisition**<br>**and others** | **Acquisition**<br>**and others** | **Disposal**<br>**and others** | **Disposal**<br>**and others** | **Dividends** | **Dividends** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Gains**<br>**(losses)**<br>**on equity-**<br>**method**<br>**accounting** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Other<br>comprehensive**<br>**income**<br>**(loss)** | **Others** | **Others** | **Ending** | **Ending** |
|  Elohim-Bilanx aerospace No.1 Fund | W |  | W | 2000 | W |  | W |  | W | (22) | W |  | W | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | W | 1978 |
|  KB-SUSUNG 2nd Investment Fund |  |  |  | 2000 |  |  |  |  |  | (19) |  |  |  |  |  | 1981 |
|  IMM global Secondary 1-1 Equity Private Fund |  |  |  | 2819 |  |  |  |  |  | 935 |  |  |  |  |  | 3754 |
|  LIB Material Investment Fund |  |  |  | 4098 |  |  |  |  |  | (2623) |  |  |  |  |  | 1475 |
|  NOVORSEC-SJG Consumer Secondary Fund |  |  |  | 1700 |  |  |  |  |  | (12) |  |  |  |  |  | 1688 |
|  Allra Fintech Corp. |  |  |  | 8532 |  |  |  |  |  | 152 |  |  |  |  |  | 8684 |
|  Reboot Private Equity Fund |  |  |  | 7000 |  |  |  |  |  | (54) |  |  |  |  |  | 6946 |
|  KB-SBI Global Strategic Capital Fund |  |  |  | 11299 |  |  |  |  |  | (515) |  |  |  |  |  | 10784 |
|  KB-Cyrus Tourism Venture Fund |  |  |  | 1000 |  |  |  |  |  | (23) |  |  |  |  |  | 977 |
|  IBKS Design Fund |  |  |  | 2000 |  |  |  |  |  | (4) |  |  |  |  |  | 1996 |
|  NICE DATA INTELLIGENCE VENTURE FUND |  |  |  | 1000 |  |  |  |  |  | (2) |  |  |  |  |  | 998 |
|  Pectus Hanhwa Fund 2 |  |  |  | 2000 |  |  |  |  |  | (50) |  |  |  |  |  | 1950 |
|  KB-IMM New Star Real Estate Private Fund I |  |  |  | 31563 |  |  |  |  |  | 1510 |  |  |  |  |  | 33073 |
|  Korea Environment Technology Co., Ltd. |  |  |  | 107428 |  |  |  |  |  |  |  |  |  |  |  | 107428 |
|  Others |  | 1016 |  | 930 |  | (67) |  |  |  | (5) |  | 21 |  | 18 |  | 1913 |
|  |  | 722222 |  | 339469 |  | (94631) |  | (14125) |  | (6332) |  | 336 |  | 451 |  | 947390 |

---

**<sup>\*</sup>** Gains (losses) on disposal of investments in associates and joint ventures amount to W 12,041 million W (10552) million for the years ended December 31, 2025 and 2024, respectively. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

13.4 Unrecognized share of losses of investments in associates and joint ventures due to the discontinuation of recognizing share of losses, for the years ended December 31, 2025 and 2024, and accumulated amount of unrecognized losses as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Unrecognized losses<br>(gains)**<br>**for the period** | **Unrecognized losses<br>(gains)**<br>**for the period** | **Unrecognized losses<br>(gains)**<br>**for the period** | **Unrecognized losses<br>(gains)**<br>**for the period** | **Accumulated**<br>**unrecognized losses** | **Accumulated**<br>**unrecognized losses** | **Accumulated**<br>**unrecognized losses** | **Accumulated**<br>**unrecognized losses** |
|  | **2025** | **2025** | **2024** | **2024** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  DSMETAL Co., Ltd. | W |  | W |  | W | 103 | W | 103 |
|  Incheon Bridge Co., Ltd. |  |  |  | (12105) |  |  |  | 535 |
|  Jaeyang Industry Co., Ltd. |  |  |  |  |  |  |  | 30 |
|  Terra Corporation |  |  |  |  |  | 14 |  | 14 |
|  Jungdo Co., Ltd. |  |  |  |  |  | 423 |  | 423 |
|  Korea NM Tech Co., Ltd. |  | 6 |  | 7 |  | 47 |  | 41 |
|  Chongil Machine & Tools Co., Ltd. |  |  |  |  |  | 75 |  | 75 |
|  Skydigital Inc. |  | (3) |  | (3) |  | 191 |  | 194 |
|  Imt Technology Co., Ltd. |  | 17 |  | 2 |  | 19 |  | 2 |
|  Jo Yang Industrial Co., Ltd. |  | 2 |  | 127 |  | 278 |  | 276 |
|  MJT&I Corp. |  | 3 |  | 1 |  | 156 |  | 153 |
|  Dae-A Leisure Co., Ltd. |  | 310 |  | 286 |  | 1195 |  | 885 |
|  Il-Kwang Electronic Materials Co., Ltd. |  |  |  |  |  | 158 |  | 158 |
|  Dongjo Co., Ltd. |  | (34) |  | (26) |  | 489 |  | 523 |
|  Iwon Alloy Co., Ltd. |  | 4 |  | 4 |  | 26 |  | 22 |
|  Chunsung-meat co., ltd. |  |  |  |  |  | 33 |  | 33 |
|  ALTSCS CO., LTD. |  | (16) |  | (15) |  | 365 |  | 381 |
|  E-won Chemical Co., Ltd. |  | (2) |  | 8 |  | 10 |  | 12 |
|  TKDS Co., Ltd |  | 16 |  | 69 |  | 193 |  | 177 |
|  TAEYEONG PRECISION IND. Co., Ltd |  |  |  | 42 |  |  |  | 42 |
|  MJ K Trading Co. |  | 6 |  | 36 |  | 42 |  | 36 |
|  DNGV Co., Ltd. |  | (46) |  | 46 |  |  |  | 46 |
|  Alpa Information&Communication Co., Ltd. |  | 1 |  | 77 |  | 78 |  | 77 |
|  JC TECHNO Co., Ltd. |  | 334 |  | 243 |  | 577 |  | 243 |
|  RAND Bio Science Co., Ltd. |  |  |  | 150 |  |  |  | 877 |
|  Star-Lord General Investors Private Real Estate Investment Company No.10 |  | 3595 |  | 5643 |  | 26670 |  | 23075 |
|  SD Speed Co., Ltd. |  | 43 |  |  |  | 43 |  |  |
|  Seokwang T&I Co., Ltd |  | 7 |  |  |  | 7 |  |  |
|  Big Dipper Co., Ltd. |  | (11) |  |  |  | (11) |  |  |
|  | W | 4232 | W | (5408) | W | 31181 | W | 28433 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**14. Property and Equipment, and Investment Properties** 

14.1 Property and Equipment

14.1.1 Details of property and equipment as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Acquisition<br>cost** | **Acquisition<br>cost** | **Accumulated<br>depreciation** | **Accumulated<br>depreciation** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Land | W | 2294337 | W |  | W | (4) | W | 2294333 |
|  Buildings |  | 2555740 |  | (989391) |  | (5746) |  | 1560603 |
|  Leasehold improvements |  | 1136679 |  | (1065888) |  |  |  | 70791 |
|  Equipment and vehicles |  | 2191181 |  | (1885832) |  |  |  | 305349 |
|  Construction in-progress |  | 30924 |  |  |  |  |  | 30924 |
|  Right-of-use assets |  | 2344415 |  | (1471642) |  | (972) |  | 871801 |
|  | W | 10553276 | W | (5412753) | W | (6722) | W | 5133801 |
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Acquisition<br>cost** | **Acquisition<br>cost** | **Accumulated<br>depreciation** | **Accumulated<br>depreciation** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Land | W | 2471259 | W |  | W | (4) | W | 2471255 |
|  Buildings |  | 2481041 |  | (962953) |  | (5746) |  | 1512342 |
|  Leasehold improvements |  | 1107922 |  | (1025640) |  |  |  | 82282 |
|  Equipment and vehicles |  | 2148574 |  | (1850044) |  |  |  | 298530 |
|  Construction in-progress |  | 65941 |  |  |  |  |  | 65941 |
|  Right-of-use assets |  | 2241126 |  | (1280489) |  | (972) |  | 959665 |
|  | W | 10515863 | W | (5119126) | W | (6722) | W | 5390015 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

14.1.2 Changes in property and equipment for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Transfer <sup>1</sup>** | **Transfer <sup>1</sup>** | **Disposal** | **Disposal** | **Depreciation <sup>2</sup>** | **Depreciation <sup>2</sup>** | **Others** | **Others** | **Ending** | **Ending** |
|  Land | W | 2471255 | W | 2247 | W | (149318) | W | (19548) | W |  | W | (10303) | W | 2294333 |
|  Buildings |  | 1512342 |  | 25316 |  | 93753 |  | (1444) |  | (69749) |  | 385 |  | 1560603 |
|  Leasehold improvements |  | 82282 |  | 12536 |  | 25222 |  | (389) |  | (48021) |  | (839) |  | 70791 |
|  Equipment and vehicles |  | 298530 |  | 151423 |  | 5405 |  | (250) |  | (147237) |  | (2522) |  | 305349 |
|  Construction in-progress |  | 65941 |  | 142017 |  | (175212) |  | (2635) |  |  |  | 813 |  | 30924 |
|  Right-of-use assets |  | 959665 |  | 379219 |  | (15800) |  | (69975) |  | (378022) |  | (3286) |  | 871801 |
|  | W | 5390015 | W | 712758 | W | (215950) | W | (94241) | W | (643029) | W | (15752) | W | 5133801 |

---

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Transfer <sup>1</sup>** | **Transfer <sup>1</sup>** | **Disposal** | **Disposal** | **Depreciation <sup>2</sup>** | **Depreciation <sup>2</sup>** | **Others** | **Others** | **Ending** | **Ending** |
|  Land | W | 2442182 | W | 66 | W | 15892 | W | (806) | W |  | W | 13921 | W | 2471255 |
|  Buildings |  | 1543808 |  | 6229 |  | 31602 |  | (3498) |  | (68707) |  | 2908 |  | 1512342 |
|  Leasehold improvements |  | 76030 |  | 17211 |  | 39857 |  | (710) |  | (51790) |  | 1684 |  | 82282 |
|  Equipment and vehicles |  | 252992 |  | 153309 |  | 16972 |  | (1933) |  | (139788) |  | 16978 |  | 298530 |
|  Construction in-progress |  | 56971 |  | 124419 |  | (114761) |  | (1402) |  |  |  | 714 |  | 65941 |
|  Right-of-use assets |  | 573716 |  | 1285013 |  | (12759) |  | (552340) |  | (360401) |  | 26436 |  | 959665 |
|  | W | 4945699 | W | 1586247 | W | (23197) | W | (560689) | W | (620686) | W | 62641 | W | 5390015 |

---

**<sup>1</sup>** Includes transfers with investment properties and assets held for sale. 

**<sup>2</sup>** Includes depreciation expenses amounting to W 67,770 million and W 65,452 million recorded as insurance service expenses, other operating expenses and others for the years ended December 31, 2025 and 2024, respectively. 

14.1.3 Changes in accumulated impairment losses of property and equipment for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Impairment** | **Impairment** | **Reversal** | **Disposal<br>and others** | **Disposal<br>and others** | **Ending** | **Ending** |
|  Accumulated impairment losses of property and equipment | W | (6722) | W | (627) | W | W | 627 | W | (6722) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Impairment** | **Impairment** | **Reversal** | **Disposal<br>and others** | **Ending** | **Ending** |
|  Accumulated impairment losses of property and equipment | W | (5751) | W | (971) | W | W | W | (6722) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

14.2 Investment Properties

14.2.1 Details of investment properties as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Acquisition<br>cost** | **Acquisition<br>cost** | **Accumulated<br>depreciation** | **Accumulated<br>depreciation** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Land | W | 1866468 | W |  | W | (50024) | W | 1816444 |
|  Buildings |  | 1696772 |  | (176140) |  | (112896) |  | 1407736 |
|  | W | 3563240 | W | (176140) | W | (162920) | W | 3224180 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Acquisition<br>cost** | **Acquisition<br>cost** | **Accumulated<br>depreciation** | **Accumulated<br>depreciation** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Land | W | 1990096 | W |  | W | (13226) | W | 1976870 |
|  Buildings |  | 1998943 |  | (186500) |  | (30137) |  | 1782306 |
|  | W | 3989039 | W | (186500) | W | (43363) | W | 3759176 |

---

14.2.2 Valuation techniques and inputs used to measure the fair value of investment properties as of December 31, 2025, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value** | **Fair value** | **Valuation techniques** | **Inputs** |
|  Land and buildings | W | 268459 | Cost approach method | - Officially assessed value<br> - Replacement cost |
|  |  | 2291991 | Market comparison method | - Price per square meter |
|  |  | 1431108 | Discounted cash flow method | - Prospective rental market growth rate<br> - Period of vacancy<br> - Rental ratio<br> - Discount rate and others |

---

Fair value of investment properties amounts to W 3,991,558 million and W 3,276,822 million as of December 31, 2025 and 2024, respectively. Investment properties are measured by qualified independent appraisers with recent experience in valuing similar properties in the same area. In addition, all investment properties are classified as Level 3 in accordance with fair value hierarchy in Note 6.1.2.

Rental income from above investment properties amounts to W 190,077 million and W 147,151 million for the years ended December 31, 2025 and 2024, respectively.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

14.2.3 Changes in investment properties for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Transfer \*** | **Transfer \*** | **Disposal** | **Disposal** | **Depreciation** | **Depreciation** | **Others** | **Others** | **Ending** | **Ending** |
|  Land | W | 1976870 | W | 73455 | W | 9998 | W | (221627) | W |  | W | (22252) | W | 1816444 |
|  Buildings |  | 1782306 |  | 110048 |  | 3186 |  | (188514) |  | (47150) |  | (252140) |  | 1407736 |
|  | W | 3759176 | W | &nbsp;&nbsp;&nbsp;&nbsp;183503 | W | 13184 | W | (410141) | W | (47150) | W | (274392) | W | 3224180 |
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Transfer \*** | **Transfer \*** | **Disposal** | **Disposal** | **Depreciation** | **Depreciation** | **Others** | **Others** | **Ending** | **Ending** |
|  Land | W | 2236544 | W | 48931 | W | 2792 | W | (324787) | W |  | W | 13390 | W | 1976870 |
|  Buildings |  | 1873240 |  | 39825 |  | 10084 |  | (118174) |  | (50426) |  | 27757 |  | 1782306 |
|  | W | 4109784 | W | &nbsp;&nbsp;&nbsp;&nbsp;88756 | W | 12876 | W | (442961) | W | (50426) | W | 41147 | W | 3759176 |

---

**\*** Includes transfers with property and equipment and assets held for sale. 

**15. Intangible Assets** 

15.1 Details of intangible assets as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Acquisition<br>cost** | **Acquisition<br>cost** | **Accumulated<br>amortization** | **Accumulated<br>amortization** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Others** | **Others** | **Carrying**<br>**amount** | **Carrying**<br>**amount** |
|  Goodwill | W | 922959 | W |  | W | (368168) | W | 78874 | W | 633665 |
|  Other intangible assets |  | 3706043 |  | (2686277) |  | (44004) |  |  |  | 975762 |
|  | W | 4629002 | W | (2686277) | W | (412172) | W | 78874 | W | 1609427 |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Acquisition<br>cost** | **Acquisition<br>cost** | **Accumulated<br>amortization** | **Accumulated<br>amortization** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Others** | **Others** | **Carrying**<br>**amount** | **Carrying**<br>**amount** |
|  Goodwill | W | 922959 | W |  | W | (137937) | W | 89026 | W | 874048 |
|  Other intangible assets |  | 3766460 |  | (2630665) |  | (43159) |  |  |  | 1092636 |
|  | W | 4689419 | W | (2630665) | W | (181096) | W | 89026 | W | 1966684 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

15.2 Details of goodwill as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Acquisition<br>cost** | **Acquisition<br>cost** | **Carrying<br>amount <sup>1</sup>** | **Carrying<br>amount <sup>1</sup>** | **Acquisition<br>cost** | **Acquisition<br>cost** | **Carrying<br>amount <sup>1</sup>** | **Carrying<br>amount <sup>1</sup>** |
|  Housing & Commercial Bank | W | 65288 | W | 65288 | W | 65288 | W | 65288 |
|  KB Securities Co., Ltd. |  | 70265 |  | 58889 |  | 70265 |  | 58889 |
|  KB Capital Co., Ltd. |  | 79609 |  | 79609 |  | 79609 |  | 79609 |
|  KB Savings Bank Co., Ltd. |  | 115343 |  | 57404 |  | 115343 |  | 57403 |
|  KB Securities Vietnam Joint Stock Company |  | 13092 |  | 14183 |  | 13092 |  | 14988 |
|  KB Daehan Specialized Bank Plc. <sup>2</sup> |  | 6189 |  |  |  | 6189 |  |  |
|  KB PRASAC Bank Plc. |  | 398144 |  | 185725 |  | 398144 |  | 419918 |
|  PT Sunindo Kookmin Best Finance |  | 2963 |  | 1367 |  | 2963 |  | 3172 |
|  PT Bank KB Indonesia Tbk. |  | 89220 |  | 88477 |  | 89220 |  | 94162 |
|  PT. KB Finansia Multi Finance |  | 51820 |  | 54360 |  | 51820 |  | 57853 |
|  PT. KB Valbury Sekurita |  | 11070 |  | 11334 |  | 11070 |  | 12063 |
|  Others |  | 19956 |  | 17029 |  | 19956 |  | 10703 |
|  | W | 922959 | W | 633665 | W | 922959 | W | 874048 |

---

<sup>1</sup> Includes the effect of exchange differences and others.

<sup>2</sup> KB Daehan Specialized Bank Plc. and I-Finance Leasing merged on December 19, 2024.

15.3 Changes in accumulated impairment losses of goodwill for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Impairment** | **Impairment** | **Others** | **Others** | **Ending** | **Ending** |
|  Accumulated impairment losses of goodwill | W | (137937) | W | (223871) | W | (6360) | W | (368168) |
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Impairment** | **Impairment** | **Others** | **Others** | **Ending** | **Ending** |
|  Accumulated impairment losses of goodwill | W | (76785) | W | (60273) | W | (879) | W | (137937) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

15.4 Details of goodwill allocation to cash-generating units and related information for impairment testing as of December 31, 2025 are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  |  | **Carrying<br>amount of<br>goodwill** | **Carrying<br>amount of<br>goodwill** | **Recoverable<br>amount<br>exceeding<br>carrying<br>amount \*** | **Recoverable<br>amount<br>exceeding<br>carrying<br>amount \*** | **Discount<br>rate (%)** | **Permanent<br>growth<br>rate (%)** |
|  Housing & Commercial Bank | Retail banking | W | 49315 | W | 4204235 | 18.08 | 1.00 |
|  | Corporate banking |  | 15973 |  | 10031341 | 14.33 | 1.00 |
|  KB Securities Co., Ltd. | KB Securities Co., Ltd. |  | 58889 |  | 503529 | 11.31 | 1.00 |
|  KB Capital Co., Ltd. | KB Capital Co., Ltd. |  | 79609 |  | 1913364 | 8.44 | 1.00 |
|  KB Savings Bank Co., Ltd. and Yehansoul Savings Bank Co., Ltd. | KB Savings Bank Co., Ltd. and Yehansoul Savings Bank Co., Ltd. |  | 57404 |  | 116891 | 13.08 | 1.00 |
|  KB Securities Vietnam Joint Stock Company | KB Securities Vietnam Joint Stock Company |  | 13794 |  | 18189 | 17.81 | 1.00 |
|  PT Bank KB Indonesia Tbk. | PT Bank KB Indonesia Tbk. |  | 86927 |  | 694511 | 21.78 | 3.00 |
|  KB PRASAC Bank Plc | KB PRASAC Bank Plc |  | 400551 |  | (219059) | 22.93 | 4.00 |
|  PT Sunindo Kookmin Best Finance | PT Sunindo Kookmin Best Finance |  | 2928 |  | (1706) | 20.05 | 0.00 |
|  PT. KB Finansia Multi Finance | PT. KB Finansia Multi Finance |  | 53408 |  | 96187 | 15.47 | 1.00 |
|  PT. KB Valbury Sekurita | PT. KB Valbury Sekurita |  | 11136 |  | 48087 | 11.50 | 1.00 |
|  Others | Others |  | 17029 |  | 23227 |  |  |
|  |  | W | 846963 | W | 17428796 |  |  |

---

\* The recoverable amount exceeding carrying amount is the amount at the time of impairment testing. 

For impairment testing, goodwill is allocated to cash-generating units that are expected to benefit from the synergies of the business combination, and cash-generating units consist of an operating segment or units which are not larger than an operating segment.

Cash-generating units to which goodwill has been allocated is tested for impairment annually and whenever there is an indication that the unit may be impaired, by comparing the carrying amount of the unit including the goodwill with the recoverable amount of the unit.

The recoverable amount of a cash-generating unit is measured at the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal is the amount obtainable from the disposal in an arm's length transaction between knowledgeable, willing parties, after deducting the costs of disposal. If it is difficult to measure the amount obtainable from the disposal of the cash-generating unit, the disposal amount of a similar cash-generating unit in the past transaction is used by reflecting the characteristics of the cash-generating unit to be measured. If it is not possible to obtain reliable information to measure the fair value less costs of disposal, the Group uses the asset's value in use as its recoverable amount. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit. The estimated future cash flows are based on the most recent financial budget approved by management with maximum period of 5 years. In relation to subsequent cash flows, it is assumed that cash flows will grow at a certain permanent growth rate. The key assumptions used for the estimation of the future cash flows are based on the market size and the Group's market share. The discount rate is a pre-tax rate that reflects assumptions regarding risk-free interest rate, market risk premium, and the risks specific to the cash-generating unit.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

15.5 Details of intangible assets other than goodwill as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Acquisition<br>cost** | **Acquisition<br>cost** | **Accumulated<br>amortization** | **Accumulated<br>amortization** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Industrial property rights | W | 2694 | W | (2117) | W |  | W | 577 |
|  Software |  | 2582445 |  | (1955811) |  | (415) |  | 626219 |
|  Other intangible assets |  | 1085777 |  | (693222) |  | (43589) |  | 348966 |
|  Right-of-use assets |  | 35127 |  | (35127) |  |  |  |  |
|  | W | 3706043 | W | (2686277) | W | (44004) | W | 975762 |
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Acquisition<br>cost** | **Acquisition<br>cost** | **Accumulated<br>amortization** | **Accumulated<br>amortization** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Industrial property rights | W | 2632 | W | (1971) | W |  | W | 661 |
|  Software |  | 2718892 |  | (2022510) |  | (1476) |  | 694906 |
|  Other intangible assets |  | 1009809 |  | (571645) |  | (41683) |  | 396481 |
|  Right-of-use assets |  | 35127 |  | (34539) |  |  |  | 588 |
|  | W | 3766460 | W | (2630665) | W | (43159) | W | 1092636 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

15.6 Changes in intangible assets other than goodwill for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Acquisition &<br>transfer** | **Acquisition &<br>transfer** | **Disposal** | **Disposal** | **Amortization <sup>1</sup>** | **Amortization <sup>1</sup>** | **Others** | **Others** | **Ending** | **Ending** |
|  Industrial property rights | W | 661 | W | 187 | W |  | W | (198) | W | (73) | W | 577 |
|  Software |  | 694906 |  | 202743 |  | (6) |  | (268258) |  | (3166) |  | 626219 |
|  Other intangible assets <sup>2</sup> |  | 396481 |  | 65054 |  | (11366) |  | (97708) |  | (3495) |  | 348966 |
|  Right-of-use assets |  | 588 |  |  |  |  |  | (588) |  |  |  |  |
|  | W | 1092636 | W | 267984 | W | (11372) | W | (366752) | W | (6734) | W | 975762 |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Acquisition &<br>transfer** | **Acquisition &<br>transfer** | **Disposal** | **Disposal** | **Amortization <sup>1</sup>** | **Amortization <sup>1</sup>** | **Others** | **Others** | **Ending** | **Ending** |
|  Industrial property rights | W | 1086 | W | 164 | W | (431) | W | (158) | W |  | W | 661 |
|  Software |  | 566354 |  | 419582 |  | (3144) |  | (292596) |  | 4710 |  | 694906 |
|  Other intangible assets <sup>2</sup> |  | 514849 |  | 3548 |  | (6533) |  | (105206) |  | (10177) |  | 396481 |
|  Right-of-use assets |  | 1595 |  |  |  |  |  | (1007) |  |  |  | 588 |
|  | W | 1083884 | W | 423294 | W | (10108) | W | (398967) | W | (5467) | W | 1092636 |

---

<sup>1</sup> Includes W 27,325 million and W 37,906 million recorded as insurance service expenses, other operating expenses and others for the years ended December 31, 2025 and 2024, respectively.

<sup>2</sup> Impairment losses for membership right with indefinite useful life among other intangible assets are recognized when its recoverable amount is lower than its carrying amount, and reversal of impairment losses are recognized when its recoverable amount is higher than its carrying amount. 

15.7 Changes in accumulated impairment losses of other intangible assets for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Impairment** | **Impairment** | **Reversal** | **Reversal** | **Disposal**<br>**and others** | **Disposal**<br>**and others** | **Ending** | **Ending** |
|  Accumulated impairment losses of other intangible assets | W | (43159) | W | (1905) | W | 500 | W | 560 | W | (44004) |
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Impairment** | **Impairment** | **Reversal** | **Reversal** | **Disposal**<br>**and others** | **Disposal**<br>**and others** | **Ending** | **Ending** |
|  Accumulated impairment losses of other intangible assets | W | (31645) | W | (15468) | W | 1020 | W | 2934 | W | (43159) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**16. Leases** 

16.1 The Group as a Lessee

16.1.1 Amounts recognized in the consolidated statements of financial position related to lease as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** |
|  Right-of-use property and equipment: \* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | W | 853940 | W | 937887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vehicles |  | 15575 |  | 17770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 2286 |  | 4008 |
|  |  | 871801 |  | 959665 |
|  Right-of-use intangible assets \* |  |  |  | 588 |
|  | W | 871801 | W | 960253 |
|  Lease liabilities \* | W | 901113 | W | 964399 |

---

\* Included in property and equipment, intangible assets, and other liabilities.

16.1.2 Amounts recognized in the consolidated statements of comprehensive income related to lease for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Depreciation and amortization of right-of-use assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | W | 321490 | W | 304882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vehicles |  | 17320 |  | 18531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 2318 |  | 1882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible assets |  | 588 |  | 1007 |
|  | W | 341716 | W | 326302 |
|  Interest expenses on the lease liabilities | W | 33185 | W | 40454 |
|  Expense relating to short-term lease |  | 3669 |  | 3960 |
|  Expense relating to lease of low-value assets that are not short-term lease |  | 4096 |  | 4682 |
|  Expense relating to variable lease payments not included in lease liabilities (included in administrative expenses) |  | 159 |  | 147 |

---

Total cash outflows for lease for the years ended December 31, 2025 and 2024 are W 374,877 million and W 326,821 million, respectively.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

16.2 The Group as a Lessor

16.2.1 The Group as a finance lessor

16.2.1.1 Gross investment in the lease and present value of minimum lease payments as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Gross<br>investment in<br>the lease** | **Gross<br>investment in<br>the lease** | **Present value of<br>minimum lease<br>payments** | **Present value of<br>minimum lease<br>payments** | **Gross<br>investment in<br>the lease** | **Gross<br>investment in<br>the lease** | **Present value of<br>minimum lease<br>payments** | **Present value of<br>minimum lease<br>payments** |
|  Up to 1 year | W | 191385 | W | 139903 | W | 291341 | W | 218942 |
|  1-5 years |  | 363689 |  | 246308 |  | 348909 |  | 264617 |
|  Over 5 years |  | 11501 |  | 7460 |  | 6038 |  | 6038 |
|  | W | 566575 | W | 393671 | W | 646288 | W | 489597 |

---

16.2.1.2 Unearned finance income on finance lease as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Gross investment in the lease | W | 566575 | W | 646288 |
|  Net investment in the lease: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Present value of minimum lease payments |  | 393671 |  | 489597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Present value of unguaranteed residual value |  | 109023 |  | 104846 |
|  |  | 502694 |  | 594443 |
|  Unearned finance income | W | 63881 | W | 51845 |

---

16.2.2 The Group as an operating lessor

Future minimum lease payments to be received from the non-cancellable lease contracts as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Minimum lease payments to be received: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Up to 1 year | W | 884866 | W | 876011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1-5 years |  | 1934480 |  | 1710770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over 5 years |  | 156546 |  | 205095 |
|  | W | 2975892 | W | 2791876 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**17. Deferred Income Tax Assets and Liabilities** 

17.1 Details of deferred income tax assets and liabilities as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Net amount** | **Net amount** |
|  Other provisions | W | 233337 | W |  | W | 233337 |
|  Allowances for credit losses |  | 44300 |  | (2355) |  | 41945 |
|  Impairment losses of property and equipment |  | 10614 |  | (1164) |  | 9450 |
|  Interest on equity index-linked deposits |  | 362 |  |  |  | 362 |
|  Share-based payments |  | 49752 |  |  |  | 49752 |
|  Provisions for acceptances and guarantees |  | 14464 |  | (164) |  | 14300 |
|  Gains or losses on valuation of derivatives |  | 324878 |  | (341168) |  | (16290) |
|  Present value discount |  | 11439 |  | (239) |  | 11200 |
|  Gains or losses on fair value hedge |  |  |  | (36979) |  | (36979) |
|  Accrued interest |  | (14) |  | (290542) |  | (290556) |
|  Deferred loan origination fees and costs |  | 16103 |  | (200328) |  | (184225) |
|  Advanced depreciation provision |  |  |  | (4170) |  | (4170) |
|  Gains or losses on revaluation |  | 326 |  | (284230) |  | (283904) |
|  Investments in subsidiaries and others |  | 89649 |  | (298302) |  | (208653) |
|  Gains or losses on valuation of security investment |  | 1045397 |  | (444901) |  | 600496 |
|  Defined benefit liabilities |  | 651974 |  |  |  | 651974 |
|  Accrued expenses |  | 403784 |  |  |  | 403784 |
|  Retirement insurance expense |  |  |  | (666714) |  | (666714) |
|  Adjustments to the prepaid contributions |  |  |  | (79010) |  | (79010) |
|  Derivative-linked securities |  | 9051 |  | (43669) |  | (34618) |
|  Others \* |  | 1221261 |  | (3058788) |  | (1837527) |
|  |  | 4126677 |  | (5752723) |  | (1626046) |
|  Offsetting of deferred income tax assets and liabilities |  | (3933643) |  | 3933643 |  |  |
|  | W | 193034 | W | (1819080) | W | (1626046) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

17.1 Details of deferred income tax assets and liabilities as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Net amount** | **Net amount** |
|  Other provisions | W | 219460 | W |  | W | 219460 |
|  Allowances for credit losses |  | 17060 |  |  |  | 17060 |
|  Impairment losses of property and equipment |  | 10543 |  | (1359) |  | 9184 |
|  Share-based payments |  | 36962 |  |  |  | 36962 |
|  Provisions for acceptances and guarantees |  | 16172 |  | (163) |  | 16009 |
|  Gains or losses on valuation of derivatives |  | 296164 |  | (225773) |  | 70391 |
|  Present value discount |  | 11952 |  | (14) |  | 11938 |
|  Gains or losses on fair value hedge |  |  |  | (45741) |  | (45741) |
|  Accrued interest |  | 1679 |  | (262437) |  | (260758) |
|  Deferred loan origination fees and costs |  | 16278 |  | (189207) |  | (172929) |
|  Advanced depreciation provision |  |  |  | (4003) |  | (4003) |
|  Gains or losses on revaluation |  | 313 |  | (290227) |  | (289914) |
|  Investments in subsidiaries and others |  | 77426 |  | (248692) |  | (171266) |
|  Gains or losses on valuation of security investment |  | 489018 |  | (448460) |  | 40558 |
|  Defined benefit liabilities |  | 619544 |  |  |  | 619544 |
|  Accrued expenses |  | 365702 |  |  |  | 365702 |
|  Retirement insurance expense |  |  |  | (590749) |  | (590749) |
|  Adjustments to the prepaid contributions |  |  |  | (49134) |  | (49134) |
|  Derivative-linked securities |  | 6883 |  | (86112) |  | (79229) |
|  Others \* |  | 1244462 |  | (2391015) |  | (1146553) |
|  |  | 3429618 |  | (4833086) |  | (1403468) |
|  Offsetting of deferred income tax assets and liabilities |  | (3150794) |  | 3150794 |  |  |
|  | W | 278824 | W | (1682292) | W | (1403468) |

---

\* Includes Purchase Price Allocation ("PPA") amount arising from the acquisition of KB Life Insurance Co., Ltd., KB Insurance Co., Ltd. 

17.2 Unrecognized Deferred Income Tax Assets

17.2.1 No deferred income tax assets have been recognized for the deductible temporary differences of W 3,868,075 million associated with investments in subsidiaries as of December 31, 2025, because it is not probable that these temporary differences will reverse in the foreseeable future.

17.2.2 No deferred income tax assets have been recognized for the deductible temporary differences of W 333,405 million related to other provisions and W 92,618 million associated with others as of December 31, 2025, due to the uncertainty that these temporary differences will be realized in the future.

17.3 Unrecognized Deferred Income Tax Liabilities

17.3.1 No deferred income tax liabilities have been recognized for the taxable temporary differences of W 816,745 million associated with investments in subsidiaries as of December 31, 2025, due to the following reasons:

• The Group is able to control the timing of the reversal of the temporary differences.

• It is probable that these temporary differences will not reverse in the foreseeable future.

17.3.2 No deferred income tax liabilities have been recognized as of December 31, 2025, for the taxable temporary differences of W 65,288 million related to the initial recognition of goodwill arising from the merger of Housing and Commercial Bank in 2001.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

17.4 Changes in cumulative temporary differences for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Decrease** | **Decrease** | **Increase** | **Increase** | **Ending** | **Ending** |
|  **Deductible temporary differences** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other provisions | W | 829857 | W | 806030 | W | 1156244 | W | 1180071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allowances for credit losses |  | 65023 |  | 52046 |  | 148519 |  | 161496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses of property and equipment |  | 38452 |  | 25506 |  | 25241 |  | 38187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred loan origination fees and costs |  | 61660 |  | 13802 |  | 10698 |  | 58556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest on equity index-linked deposits |  |  |  |  |  | 1317 |  | 1317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based payments |  | 140006 |  | 125469 |  | 166378 |  | 180915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provisions for acceptances and guarantees |  | 60642 |  | 60642 |  | 52000 |  | 52000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on valuation of derivatives |  | 1122015 |  | 1122015 |  | 1181547 |  | 1181547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Present value discount |  | 45274 |  | 45274 |  | 41596 |  | 41596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries and others |  | 4184249 |  | 61624 |  | 77520 |  | 4200145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on valuation of security investment |  | 1854209 |  | 1844634 |  | 3791454 |  | 3801029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Defined benefit liabilities |  | 2346756 |  | 348897 |  | 372956 |  | 2370815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses |  | 1386923 |  | 1380332 |  | 1461345 |  | 1467936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative-linked securities |  | 26070 |  | 26070 |  | 32913 |  | 32913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others <sup>1</sup> |  | 3907004 |  | 1752786 |  | 1416838 |  | 3571056 |
|  |  | 16068140 |  | 7665127 |  | 9936566 |  | 18339579 |
|  **Unrecognized deferred income tax assets** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other provisions |  | 404 |  |  |  |  |  | 333405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries and others |  | 3914339 |  |  |  |  |  | 3868075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 98004 |  |  |  |  |  | 92618 |
|  |  | 12055393 |  |  |  |  |  | 14045481 |
|  Tax rate (%) <sup>2</sup> |  | 26.4 |  |  |  |  |  | 27.5 |
|  **Total deferred income tax assets** | W | 3429618 |  |  |  |  | W | 4126677 |
|  **Taxable temporary differences** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on fair value hedge | W | (173260) | W | (173260) | W | (134469) | W | (134469) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued interest |  | (994078) |  | (916788) |  | (979229) |  | (1056519) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allowances for credit losses |  |  |  |  |  | (8563) |  | (8563) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses of property and equipment |  | (3109) |  | (1713) |  | 102 |  | (1294) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred loan origination fees and costs |  | (716693) |  | (716708) |  | (728480) |  | (728465) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advanced depreciation provision |  | (15163) |  | (9097) |  | (9097) |  | (15163) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on valuation of derivatives |  | (855200) |  | (883359) |  | (1248314) |  | (1220155) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Present value discount |  | (3719) |  | (3719) |  | (26382) |  | (26382) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodwill arising from the merger |  | (65288) |  |  |  |  |  | (65288) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on revaluation |  | (1099344) |  | (98214) |  | (32435) |  | (1033565) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries and others |  | (2668423) |  | (259981) |  | 467200 |  | (1941242) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on valuation of security investment |  | (1691477) |  | (1652548) |  | (1561787) |  | (1600716) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retirement insurance expense |  | (2237687) |  | (177945) |  | (364671) |  | (2424413) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adjustments to the prepaid contributions |  | (186113) |  | (186113) |  | (287309) |  | (287309) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative-linked securities |  | (326181) |  | (326181) |  | (158793) |  | (158793) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others <sup>1</sup> |  | (8477644) |  | (523001) |  | (2467103) |  | (10421746) |
|  |  | (19513379) |  | (5928627) |  | (7539330) |  | (21124082) |
|  **Unrecognized deferred income tax liabilities** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodwill arising from the merger |  | (65288) |  |  |  |  |  | (65288) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries and others |  | (1744044) |  |  |  |  |  | (816745) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | (522) |  |  |  |  |  | (28537) |
|  |  | (17703525) |  |  |  |  |  | (20213512) |
|  Tax rate (%) <sup>2</sup> |  | 26.4 |  |  |  |  |  | 27.5 |
|  **Total deferred income tax liabilities** | W | (4833086) |  |  |  |  | W | (5752723) |

---

<sup>1</sup> Includes PPA amount arising from the acquisition of KB Life Insurance Co., Ltd., KB Insurance Co., Ltd. 

<sup>2</sup> Deferred tax assets and liabilities that are expected to be realized after 2026 are measured using the tax rate of 27.5%. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

17.4 Changes in cumulative temporary differences for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Decrease** | **Decrease** | **Increase** | **Increase** | **Ending** | **Ending** |
|  **Deductible temporary differences** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other provisions | W | 1202725 | W | 1173243 | W | 800375 | W | 829857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allowances for credit losses |  | 113157 |  | 114700 |  | 66566 |  | 65023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses of property and equipment |  | 30774 |  | 21585 |  | 29263 |  | 38452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred loan origination fees and costs |  | 55278 |  | 11323 |  | 17705 |  | 61660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based payments |  | 92146 |  | 81835 |  | 129695 |  | 140006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provisions for acceptances and guarantees |  | 185290 |  | 185290 |  | 60642 |  | 60642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on valuation of derivatives |  | 904830 |  | 904830 |  | 1122015 |  | 1122015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Present value discount |  | 54815 |  | 54815 |  | 45274 |  | 45274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries and others |  | 3112619 |  | 102105 |  | 1173735 |  | 4184249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on valuation of security investment |  | 3456456 |  | 3450487 |  | 1848240 |  | 1854209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Defined benefit liabilities |  | 2174727 |  | 306292 |  | 478321 |  | 2346756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses |  | 1225697 |  | 1220348 |  | 1381574 |  | 1386923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative-linked securities |  | 21725 |  | 21725 |  | 26070 |  | 26070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others <sup>1</sup> |  | 3052860 |  | 1222782 |  | 2076926 |  | 3907004 |
|  |  | 15683099 |  | 8871360 |  | 9256401 |  | 16068140 |
|  **Unrecognized deferred income tax assets** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other provisions |  | 404 |  |  |  |  |  | 404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries and others |  | 2948424 |  |  |  |  |  | 3914339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 85346 |  |  |  |  |  | 98004 |
|  |  | 12648925 |  |  |  |  |  | 12055393 |
|  Tax rate (%) |  | 26.4 |  |  |  |  |  | 26.4 |
|  **Total deferred income tax assets** | W | 3637726 |  |  |  |  | W | 3429618 |
|  **Taxable temporary differences** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on fair value hedge | W | (216460) | W | (43200) | W |  | W | (173260) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued interest |  | (809501) |  | (718384) |  | (902961) |  | (994078) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses of property and equipment |  | (3288) |  | (179) |  |  |  | (3109) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred loan origination fees and costs |  | (666878) |  | (666878) |  | (716693) |  | (716693) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advanced depreciation provision |  | (15163) |  | (9097) |  | (9097) |  | (15163) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on valuation of derivatives |  | (698745) |  | (698745) |  | (855200) |  | (855200) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Present value discount |  | (2745) |  | (2745) |  | (3719) |  | (3719) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodwill arising from the merger |  | (65288) |  |  |  |  |  | (65288) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on revaluation |  | (1100555) |  | (38949) |  | (37738) |  | (1099344) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries and others |  | (2134355) |  | (146755) |  | (680823) |  | (2668423) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on valuation of security investment |  | (1282875) |  | (1240160) |  | (1648762) |  | (1691477) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Defined benefit liabilities |  | (97) |  | (97) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retirement insurance expense |  | (2371534) |  | (326432) |  | (192585) |  | (2237687) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adjustments to the prepaid contributions |  | (125019) |  | (125019) |  | (186113) |  | (186113) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative-linked securities |  | (994405) |  | (994405) |  | (326181) |  | (326181) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others <sup>1</sup> |  | (11042857) |  | (2848140) |  | (282927) |  | (8477644) |
|  |  | (21529765) |  | (7859185) |  | (5842799) |  | (19513379) |
|  **Unrecognized deferred income tax liabilities** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodwill arising from the merger |  | (65288) |  |  |  |  |  | (65288) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries and others |  | (1220925) |  |  |  |  |  | (1744044) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | (446) |  |  |  |  |  | (522) |
|  |  | (20243106) |  |  |  |  |  | (17703525) |
|  Tax rate (%) |  | 26.4 |  |  |  |  |  | 26.4 |
|  **Total deferred income tax liabilities** | W | (5458413) |  |  |  |  | W | (4833086) |

---

<sup>1</sup> Includes PPA amount arising from the acquisition of KB Life Insurance Co., Ltd., KB Insurance Co., Ltd. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**18. Assets Held for Sale and Disposal group classified as held for sale** 

18.1 Assets Held for Sale

18.1.1 Details of assets held for sale as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Acquisition<br>cost \*** | **Acquisition<br>cost \*** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Carrying<br>amount** | **Carrying<br>amount** | **Fair value less<br>costs to sell** | **Fair value less<br>costs to sell** |
|  Land held for sale | W | 121182 | W | (45627) | W | 75555 | W | 125973 |
|  Buildings held for sale |  | 168014 |  | (68650) |  | 99364 |  | 118454 |
|  Other assets held for sale |  | 1865 |  | (1865) |  |  |  |  |
|  | W | 291061 | W | (116142) | W | 174919 | W | 244427 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Acquisition<br>cost \*** | **Acquisition<br>cost \*** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Carrying<br>amount** | **Carrying<br>amount** | **Fair value less<br>costs to sell** | **Fair value less<br>costs to sell** |
|  Land held for sale | W | 82878 | W | (48986) | W | 33892 | W | 44906 |
|  Buildings held for sale |  | 179430 |  | (76908) |  | 102522 |  | 124095 |
|  Other assets held for sale |  | 2664 |  | (2241) |  | 423 |  | 423 |
|  | W | 264972 | W | (128135) | W | 136837 | W | 169424 |

---

\* Acquisition cost of buildings held for sale is net of accumulated depreciation amount immediately before the initial classification of the assets as held for sale. 

18.1.2 Valuation techniques and inputs used to measure the fair value of assets held for sale as of December 31, 2025 are as follows:

*(In millions of Korean won)* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value** | **Valuation<br>techniques <sup>1</sup>** | **Unobservable<br>inputs <sup>2</sup>** | **Estimated range<br>of unobservable<br>inputs (%)** | **Effect of<br>unobservable<br>inputs to fair<br>value** |
|  Land and buildings | W244,427 | Sales<br>comparison<br>approach<br>model and<br>others | Adjustment<br>index | 0.33~2.90 | Fair value<br>increases<br>as the<br>adjustment<br>index rises |

---

<sup>1</sup> The appraisal value is adjusted by the adjustment ratio in the event the public sale is unsuccessful.

<sup>2</sup> Adjustment index is calculated using the time factor correction or local factors or individual factors.

Among assets held for sale, real estate was measured by independent appraisers with professional qualifications and recent experience in evaluating similar properties in the area of the property to be assessed. All assets held for sale are classified as Level 3 in accordance with fair value hierarchy in Note 6.1.2.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

18.1.3 Changes in accumulated impairment losses of assets held for sale for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Provision** | **Provision** | **Reversal** | **Reversal** | **Others** | **Others** | **Ending** | **Ending** |
|  Accumulated impairment losses of assets held for sale | W | (128135) | W | (35536) | W | 1 | W | 47528 | W | (116142) |
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Provision** | **Provision** | **Reversal** | **Reversal** | **Others** | **Others** | **Ending** | **Ending** |
|  Accumulated impairment losses of assets held for sale | W | (64658) | W | (49259) | W | 2 | W | (14220) | W | (128135) |

---

18.1.4 As of December 31, 2025, assets held for sale consist of 34 real estates of closed offices, and 297 foreclosure assets on loans of PT Bank KB Indonesia Tbk., which were determined to sell by management, but not yet sold as of December 31, 2025. The remaining 331 assets are being actively marketed.

18.2 Disposal group classified as held for sale

Kookmin Bank(a subsidiary of the Group) decided to dispose of its entire equity interest in PT KB Bukopin Finance held by its consolidated subsidiary, PT Bank KB Indonesia Tbk. Accordingly, as of December 31, 2025, the bank classified the assets and liabilities of PT KB Bukopin Finance as a disposal group held for sale and a disposal group of liabilities directly associated with assets held for sale, respectively. As of December 31, 2025, the bank has entered into a share purchase agreement with a third party for the sale of its equity interest in its subsidiary, PT KB Bukopin Finance, and is currently in the process of completing the disposal.

18.2.1 The major components of assets classified as a disposal group held for sale as of December 31, 2025 are as follows:

---

| | | |
|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** |
|  **Other financial assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and deposits | W | 5858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  | 85572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property and equipment |  | 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible assets |  | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred tax assets |  | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets |  | 2621 |
|  | W | 94215 |

---

18.2.2 The major components of liabilities classified as a disposal group held for sale as of December 31, 2025 are as follows:

---

| | | |
|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** |
|  **Other financial assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings | W | 58590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net defined benefit liabilities |  | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities |  | 9627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current income tax liabilities |  | 60 |
|  | W | 68290 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

18.2.3 As of December 31, 2025, the Group measured the disposal group classified as held for sale at the lower of its carrying amount and fair value less costs to sell, and no impairment loss was recognized as fair value less costs to sell exceeded the carrying amount.

**19. Other Assets** 

19.1 Details of other assets as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  **Other financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other receivables | W | 12988106 | W | 8955019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued income |  | 3227004 |  | 3271649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guarantee deposits |  | 866563 |  | 918515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domestic exchange settlement debits |  | 1283515 |  | 464292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 1344410 |  | 1322780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Allowances for credit losses |  | (629272) |  | (518864) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Present value discount |  | (10630) |  | (9164) |
|  |  | 19069696 |  | 14404227 |
|  **Other non-financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other receivables |  | 20295 |  | 5435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses |  | 642059 |  | 654346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guarantee deposits |  | 6367 |  | 5121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 4320295 |  | 3809174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Allowances for credit losses |  | (13584) |  | (14666) |
|  |  | 4975432 |  | 4459410 |
|  | W | 24045128 | W | 18863637 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

19.2 Changes in allowances for credit losses of other assets for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Other<br>financial assets** | **Other<br>financial assets** | **Other**<br>**non-financial assets** | **Other**<br>**non-financial assets** | **Total** | **Total** |
|  Beginning | W | 518864 | W | 14666 | W | 533530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Write-offs |  | (11700) |  | (263) |  | (11963) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) |  | 115283 |  | (1220) |  | 114063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 6825 |  | 401 |  | 7226 |
|  Ending | W | 629272 | W | 13584 | W | 642856 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Other<br>financial assets** | **Other<br>financial assets** | **Other**<br>**non-financial assets** | **Other**<br>**non-financial assets** | **Total** | **Total** |
|  Beginning | W | 304567 | W | 12769 | W | 317336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Write-offs |  | (13552) |  | (142) |  | (13694) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) |  | 155770 |  | 1987 |  | 157757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 72079 |  | 52 |  | 72131 |
|  Ending | W | 518864 | W | 14666 | W | 533530 |

---

**20. Financial Liabilities at Fair Value through Profit or Loss** 

20.1 Details of financial liabilities at fair value through profit or loss and financial liabilities designated at fair value through profit or loss as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  **Financial liabilities at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowed securities sold | W | 2923691 | W | 2558520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 415881 |  | 159212 |
|  |  | 3339572 |  | 2717732 |
|  **Financial liabilities designated at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative-linked securities |  | 7981018 |  | 8002499 |
|  |  | 7981018 |  | 8002499 |
|  | W | 11320590 | W | 10720231 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

20.2 Difference between the amount contractually required to pay at maturity and carrying amount of financial liabilities designated at fair value through profit or loss as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Amount contractually required to pay at maturity | W | 7900807 | W | 7947236 |
|  Carrying amount |  | 7981018 |  | 8002499 |
|  Difference | W | (80211) | W | (55263) |

---

**21. Deposits** 

Details of deposits as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  **Demand deposits** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Demand deposits in Korean won | W | 169324051 | W | 156242487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Demand deposits in foreign currencies |  | 16531638 |  | 13667783 |
|  |  | 185855689 |  | 169910270 |
|  **Time deposits** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time deposits in Korean won |  | 224427609 |  | 221342787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value adjustments of fair value hedged time deposits in Korean won |  | 6865 |  | 6258 |
|  |  | 224434474 |  | 221349045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time deposits in foreign currencies |  | 27711278 |  | 28299460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value adjustments of fair value hedged time deposits in foreign currencies |  | (1334) |  | (7593) |
|  |  | 27709944 |  | 28291867 |
|  |  | 252144418 |  | 249640912 |
|  **Certificates of deposits** |  | 13749293 |  | 9805371 |
|  **Investment contract liabilities** |  | 10647626 |  | 6331344 |
|  | W | 462397026 | W | 435687897 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**22. Borrowings** 

22.1 Details of borrowings as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  General borrowings | W | 53070565 | W | 52433193 |
|  Bonds sold under repurchase agreements and others |  | 13430104 |  | 12803106 |
|  Call money |  | 4227727 |  | 2840713 |
|  | W | 70728396 | W | 68077012 |

---

22.2 Details of general borrowings as of December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **Lenders** | **Interest rate<br>(%) as of<br>December 31,<br>2025** | **December 31,**<br> **2025** | **December 31,**<br> **2024** |
|  **Borrowings in Korean won** | Borrowings from the Bank of Korea | The Bank of Korea | 1.00 | W6,958,623 | W4,618,026 |
|  | Borrowings from the government | SEMAS and others | 0.00~3.50 | 2402107 | 2409409 |
|  | Borrowings from banks | The Korea Development Bank and others | 2.20~5.92 | 1556717 | 1267487 |
|  | Borrowings from non-banking financial institutions | Korea Securities Finance Corporation and others | 0.55~6.50 | 2674329 | 3014113 |
|  | Other borrowings | The Korea Development Bank and others | 0.00~6.94 | 22050728 | 22294928 |
|  |  |  |  | 35642504 | 33603963 |
|  **Borrowings in foreign currencies** | Due to banks | Hana Bank and others |  | 731 | 15155 |
|  | Borrowings from banks | Citicorp International Ltd. and others | 0.00~9.51 | 14412057 | 15914710 |
|  | Borrowings from other financial institutions | The Export-Import Bank of Korea and others | 4.19~4.42 | 5883 | 6027 |
|  | Other borrowings | Standard Chartered Bank (Hong Kong) and others | 0.00~4.33 | 3009390 | 2893338 |
|  |  |  |  | 17428061 | 18829230 |
|  |  |  |  | W53,070,565 | W52,433,193 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

22.3 Details of bonds sold under repurchase agreements and others as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Lenders** | **Interest rate (%)**<br>**as of**<br>**December 31,<br>2025** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Bonds sold under repurchase agreements | Individuals, groups, and corporations | 0.00~4.80 | W | 13425697 | W | 12794534 |
|  Bills sold | Counter sale | 1.55~2.00 |  | 4407 |  | 8572 |
|  |  |  | W | 13430104 | W | 12803106 |

---

22.4 Details of call money as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Lenders** | **Interest rate (%)**<br>**as of**<br>**December 31,<br>2025** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Call money in Korean won | JPMorgan Chase Bank and others | 2.12~2.90 | W | 2270500 | W | 820000 |
|  Call money in foreign currencies | BANK OF THAILAND and others | 1.33~10.00 |  | 1957227 |  | 2020713 |
|  |  |  | W | 4227727 | W | 2840713 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**23. Debentures** 

23.1 Details of debentures as of December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Interest rate (%)**<br>**as of**<br>**December 31,<br>2025** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  **Debentures in Korean won** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Structured debentures | 3.45~5.86 | W | 90410 | W | 20560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated fixed rate debentures | 2.02~4.90 |  | 5045150 |  | 4445150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed rate debentures | 1.33~7.20 |  | 55987465 |  | 54370733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating rate debentures | 2.61~5.79 |  | 2380000 |  | 1250000 |
|  |  |  | 63503025 |  | 60086443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value adjustments of fair value hedged debentures in Korean won |  |  | (116915) |  | (108207) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Discount on debentures in Korean won |  |  | (79204) |  | (57075) |
|  |  |  | 63306906 |  | 59921161 |
|  **Debentures in foreign currencies** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating rate debentures | 2.26~5.08 |  | 3636907 |  | 3122201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed rate debentures | 0.00~9.06 |  | 13179168 |  | 13229773 |
|  |  |  | 16816075 |  | 16351974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value adjustments of fair value hedged debentures in foreign currencies |  |  | (23084) |  | (63717) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Discount on debentures in foreign currencies |  |  | (50627) |  | (38161) |
|  |  |  | 16742364 |  | 16250096 |
|  |  | W | 80049270 | W | 76171257 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

23.2 Changes in debentures based on par value for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Issue** | **Issue** | **Repayment** | **Repayment** | **Others** | **Others** | **Ending** | **Ending** |
|  **Debentures in Korean won** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Structured debentures | W | 20560 | W | 70000 | W | (150) | W |  | W | 90410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated fixed rate debentures |  | 4445150 |  | 600000 |  |  |  |  |  | 5045150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed rate debentures |  | 54370733 |  | 86011300 |  | (84394568) |  |  |  | 55987465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating rate debentures |  | 1250000 |  | 1360000 |  | (230000) |  |  |  | 2380000 |
|  |  | 60086443 |  | 88041300 |  | (84624718) |  |  |  | 63503025 |
|  **Debentures in foreign currencies** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating rate debentures |  | 3122201 |  | 1409480 |  | (841190) |  | (53584) |  | 3636907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed rate debentures |  | 13229773 |  | 3779076 |  | (4021182) |  | 191501 |  | 13179168 |
|  |  | 16351974 |  | 5188556 |  | (4862372) |  | 137917 |  | 16816075 |
|  | W | 76438417 | W | 93229856 | W | (89487090) | W | 137917 | W | 80319100 |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Issue** | **Issue** | **Repayment** | **Repayment** | **Others** | **Others** | **Ending** | **Ending** |
|  **Debentures in Korean won** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Structured debentures | W | 90640 | W |  | W | (70080) | W |  | W | 20560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchangeable bonds |  | 240000 |  |  |  | (240000) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated fixed rate debentures |  | 4453970 |  |  |  | (8820) |  |  |  | 4445150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed rate debentures |  | 45624127 |  | 82306421 |  | (73559815) |  |  |  | 54370733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating rate debentures |  | 5410000 |  | 440000 |  | (4600000) |  |  |  | 1250000 |
|  |  | 55818737 |  | 82746421 |  | (78478715) |  |  |  | 60086443 |
|  **Debentures in foreign currencies** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating rate debentures |  | 2532921 |  | 975755 |  | (728965) |  | 342490 |  | 3122201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed rate debentures |  | 11109296 |  | 2620029 |  | (1880406) |  | 1380854 |  | 13229773 |
|  |  | 13642217 |  | 3595784 |  | (2609371) |  | 1723344 |  | 16351974 |
|  | W | 69460954 | W | 86342205 | W | (81088086) | W | 1723344 | W | 76438417 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**24. Provisions** 

24.1 Details of provisions as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Provisions for credit losses of unused loan commitments | W | 274488 | W | 297855 |
|  Provisions for credit losses of acceptances and guarantees |  | 49025 |  | 56097 |
|  Provisions for credit losses of financial guarantee contracts |  | 6024 |  | 7378 |
|  Provisions for restoration costs |  | 171649 |  | 180590 |
|  Others |  | 763204 |  | 385712 |
|  | W | 1264390 | W | 927632 |

---

24.2 Changes in provisions for credit losses of unused loan commitments, and acceptances and guarantees for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of<br>acceptances and guarantees** | **Provisions for credit losses of<br>acceptances and guarantees** | **Provisions for credit losses of<br>acceptances and guarantees** | **Provisions for credit losses of<br>acceptances and guarantees** | **Provisions for credit losses of<br>acceptances and guarantees** | **Provisions for credit losses of<br>acceptances and guarantees** |
|  | **12-month<br>expected<br>credit<br>losses** | **12-month<br>expected<br>credit<br>losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** | **12-month<br>expected<br>credit<br>losses** | **12-month<br>expected<br>credit<br>losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** |
|  | **12-month<br>expected<br>credit<br>losses** | **12-month<br>expected<br>credit<br>losses** | **Non-**<br>**impaired** | **Non-**<br>**impaired** | **Impaired** | **Impaired** | **12-month<br>expected<br>credit<br>losses** | **12-month<br>expected<br>credit<br>losses** | **Non-**<br>**impaired** | **Non-**<br>**impaired** | **Impaired** | **Impaired** |
|  Beginning | W | 216995 | W | 78975 | W | 1885 | W | 39465 | W | 2487 | W | 14145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between stages: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to 12-month expected credit losses |  | 24364 |  | (24268) |  | (96) |  | 116 |  | (116) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses |  | (22180) |  | 24123 |  | (1943) |  | (826) |  | 862 |  | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment |  | (1502) |  | (3375) |  | 4877 |  | (47) |  | (172) |  | 219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) for credit losses |  | (29070) |  | 8761 |  | (2441) |  | (6320) |  | 2279 |  | (2653) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others (exchange differences, etc.) |  | (604) |  | 7 |  | (20) |  | (317) |  | (4) |  | (57) |
|  Ending | W | 188003 | W | 84223 | W | 2262 | W | 32071 | W | 5336 | W | 11618 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

24.2 Changes in provisions for credit losses of unused loan commitments, and acceptances and guarantees for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of unused<br>loan commitments** | **Provisions for credit losses of<br>acceptances and guarantees** | **Provisions for credit losses of<br>acceptances and guarantees** | **Provisions for credit losses of<br>acceptances and guarantees** | **Provisions for credit losses of<br>acceptances and guarantees** | **Provisions for credit losses of<br>acceptances and guarantees** | **Provisions for credit losses of<br>acceptances and guarantees** |
|  | **12-month<br>expected<br>credit<br>losses** | **12-month<br>expected<br>credit<br>losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** | **12-month<br>expected<br>credit<br>losses** | **12-month<br>expected<br>credit<br>losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** | **Lifetime expected<br>credit losses** |
|  | **12-month<br>expected<br>credit<br>losses** | **12-month<br>expected<br>credit<br>losses** | **Non-**<br>**impaired** | **Non-**<br>**impaired** | **Impaired** | **Impaired** | **12-month<br>expected<br>credit<br>losses** | **12-month<br>expected<br>credit<br>losses** | **Non-**<br>**impaired** | **Non-**<br>**impaired** | **Impaired** | **Impaired** |
|  Beginning | W | 232674 | W | 136318 | W | 10674 | W | 30849 | W | 148197 | W | 4408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer between stages: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to 12-month expected credit losses |  | 90484 |  | (84851) |  | (5633) |  | 87306 |  | (87306) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer to lifetime expected credit losses |  | (19576) |  | 20367 |  | (791) |  | (464) |  | 464 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment |  | (720) |  | (2150) |  | 2870 |  | (52) |  | (85) |  | 137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) for credit losses |  | (88390) |  | 9139 |  | (5210) |  | (90285) |  | (58819) |  | 9309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others (exchange differences, etc.) |  | 2523 |  | 152 |  | (25) |  | 12111 |  | 36 |  | 291 |
|  Ending | W | 216995 | W | 78975 | W | 1885 | W | 39465 | W | 2487 | W | 14145 |

---

24.3 Changes in provisions for credit losses of financial guarantee contracts for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Beginning | W | 7378 | W | 6500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) |  | (529) |  | 15779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | (825) |  | (14901) |
|  Ending | W | 6024 | W | 7378 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

24.4 Changes in provisions for restoration costs for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Beginning | W | 180590 | W | 155214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision |  | 8275 |  | 7846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reversal |  | (4515) |  | (1422) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Used |  | (14925) |  | (4632) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unwinding of discount |  | 5075 |  | 5221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of changes in discount rate |  | (2851) |  | 18363 |
|  Ending | W | 171649 | W | 180590 |

---

Provisions for restoration costs are the present value of estimated costs to be incurred for the restoration of the leased properties. The expenditure of the restoration cost will be incurred at the end of each lease contract, and the lease period is used to reasonably estimate the time of expenditure. Also, the average restoration expense based on actual three-year historical data and three-year historical average inflation rate are used to estimate the present value of estimated costs.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

24.5 Changes in other provisions for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Membership<br>rewards<br>program** | **Membership<br>rewards<br>program** | **Dormant<br>accounts** | **Dormant<br>accounts** | **Litigations** | **Litigations** | **Others** <sup>1, 2, 3, 4</sup> | **Others** <sup>1, 2, 3, 4</sup> | **Total** | **Total** |
|  Beginning | W | 73 | W | 3153 | W | 156214 | W | 226272 | W | 385712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase |  | 108 |  | 12642 |  | 59444 |  | 496648 |  | 568842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease |  | (90) |  | (10061) |  | (73044) |  | (107629) |  | (190824) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  |  |  |  |  | (524) |  | (2) |  | (526) |
|  Ending <sup>1, 2, 3, 4</sup> | W | 91 | W | 5734 | W | 142090 | W | 615289 | W | 763204 |
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Membership<br>rewards<br>program** | **Membership<br>rewards<br>program** | **Dormant<br>accounts** | **Dormant<br>accounts** | **Litigations** | **Litigations** | **Others** <sup>1, 2, 3</sup> | **Others** <sup>1, 2, 3</sup> | **Total** | **Total** |
|  Beginning | W | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | W | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3359 | W | 185667 | W | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530511 | W | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase |  | 80 |  | 2803 |  | 53125 |  | 806860 |  | 862868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease |  | (54) |  | (3009) |  | (84490) |  | (1115767) |  | (1203320) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  |  |  |  |  | 1912 |  | 4668 |  | 6580 |
|  Ending <sup>1, 2, 3</sup> | W | 73 | W | 3153 | W | 156214 | W | 226272 | W | 385712 |

---

<sup>1</sup> Includes other provisions of W 6,577 million and W 17,064 million related to the Livelihood finance support program as of December 31, 2025 and 2024, respectively

<sup>2</sup> Includes other provisions of W 28,396 million and W 55,182 million related to the voluntary compensation for the performance of the Hang Seng China Enterprise Index as of December 31, 2025 and 2024, respectively.

<sup>3</sup> Includes other provisions of W 144,246 million and W 33,776 million related to the completion guarantee management-type land trust business agreement of KB Real Estate Trust Co., Ltd. as of December 31, 2025 and 2024, respectively.

<sup>4</sup> As of December 31, 2025, other provisions include W 333,002 million related to ELS and LTV penalties, among others, and such amount may change depending on future developments and the outcome of related matters. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**25. Net Defined Benefit Liabilities** 

25.1 Defined Benefit Plan

The Group operates defined benefit plans which have the following characteristics:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Group has the obligation to pay the agreed benefits to all its current and former employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Group assumes actuarial risk (that benefits will cost more than expected) and investment risk.

The net defined benefit liabilities recognized in the consolidated statement of financial position are calculated by the independent actuary in accordance with actuarial valuation method. The defined benefit obligation is calculated using the projected unit credit method. Assumptions based on market data and historical data such as discount rate, future salary increase rate, mortality, and consumer price index are used which are updated annually.

Actuarial assumptions may differ from actual results, due to changes in the market conditions, economic trends, and mortality trends which may affect net defined benefit liabilities and future payments. Actuarial gains and losses arising from changes in actuarial assumptions are recognized in the period incurred through other comprehensive income.

25.2 Changes in net defined benefit liabilities for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Present value of<br>defined benefit<br>obligation** | **Present value of<br>defined benefit<br>obligation** | **Fair value of**<br>**plan assets** | **Fair value of**<br>**plan assets** | **Net defined benefit<br>liabilities (assets)** | **Net defined benefit<br>liabilities (assets)** |
|  Beginning | W | 2537534 | W | (2695847) | W | (158313) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current service cost |  | 228415 |  |  |  | 228415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Past service cost |  | 410 |  |  |  | 410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on settlement |  | (184) |  |  |  | (184) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense (income) |  | 86257 |  | (93357) |  | (7100) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by changes in demographic assumptions |  | (1718) |  |  |  | (1718) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by changes in financial assumptions |  | (25489) |  |  |  | (25489) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by experience adjustments |  | 32440 |  |  |  | 32440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return on plan assets (excluding amounts included in interest income) |  |  |  | (43680) |  | (43680) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contributions by the Group |  |  |  | (213439) |  | (213439) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments from plans (settlement) |  | (3841) |  | 3841 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments from plans (benefit payments) |  | (230683) |  | 230683 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments from the Group |  | (64187) |  |  |  | (64187) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer in (out) |  | 833 |  | (422) |  | 411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of exchange differences |  | (804) |  | 9 |  | (795) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | (49) |  |  |  | (49) |
|  Ending \* | W | 2558934 | W | (2812212) | W | (253278) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

25.2 Changes in net defined benefit liabilities for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Present value of<br>defined benefit<br>obligation** | **Present value of<br>defined benefit<br>obligation** | **Fair value of**<br>**plan assets** | **Fair value of**<br>**plan assets** | **Net defined benefit<br>liabilities (assets)** | **Net defined benefit<br>liabilities (assets)** |
|  Beginning | W | 2362952 | W | (2655173) | W | (292221) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current service cost |  | 216612 |  |  |  | 216612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on settlement |  | (1751) |  |  |  | (1751) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense (income) |  | 94050 |  | (107712) |  | (13662) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by changes in demographic assumptions |  | (2786) |  |  |  | (2786) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by changes in financial assumptions |  | 145060 |  |  |  | 145060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by experience adjustments |  | 2670 |  |  |  | 2670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return on plan assets (excluding amounts included in interest income) |  |  |  | (27251) |  | (27251) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contributions by the Group |  |  |  | (131400) |  | (131400) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments from plans (settlement) |  | (457) |  | 457 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments from plans (benefit payments) |  | (225551) |  | 225551 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments from the Group |  | (54902) |  |  |  | (54902) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer in (out) |  | 952 |  | (201) |  | 751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of exchange differences |  | 613 |  | (76) |  | 537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 72 |  | (42) |  | 30 |
|  Ending \* | W | 2537534 | W | (2695847) | W | (158313) |

---

\* The net defined benefit assets of W 253,278 million is calculated by subtracting W 100,088 million of net defined benefit liabilities from W 353,366 million of net defined benefit assets as of December 31, 2025. The net defined benefit assets of W 158,313 million is calculated by subtracting W 100,187 million of net defined benefit liabilities from W 258,500 million of net defined benefit assets as of December 31, 2024. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

25.3 Details of net defined benefit liabilities as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Present value of defined benefit obligation | W | 2558934 | W | 2537534 |
|  Fair value of plan assets |  | (2812212) |  | (2695847) |
|  Net defined benefit liabilities | W | (253278) | W | (158313) |

---

25.4 Details of post-employment benefits recognized in profit or loss for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Current service cost | W | 228415 | W | 216612 |
|  Past service cost |  | 410 |  |  |
|  Net interest expense on net defined benefit liabilities |  | (7100) |  | (13662) |
|  Gains on settlement |  | (184) |  | (1751) |
|  Post-employment benefits \* | W | 221541 | W | 201199 |

---

\* Includes post-employment benefits amounting to W 24,972 million recognized as insurance service expenses, W 3,654 million recognized as other operating expenses and W 128 million recognized as prepayment for the year ended December 31, 2025, and post-employment benefits amounting to W 20,326 recognized as insurance service expenses and W 3,302 million recognized as other operating expenses and W 90 million recognized as prepayment for the year ended December 31, 2025. 

25.5 Details of remeasurements of net defined benefit liabilities recognized in other comprehensive income (loss) for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Remeasurements: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return on plan assets (excluding amounts included in interest income) | W | 43680 | W | 27251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses |  | (5233) |  | (144944) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax effect |  | (9791) |  | 31076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of exchange differences |  | (639) |  | 1242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements after income tax expense | W | 28017 | W | (85375) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

25.6 Details of fair value of plan assets as of December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Assets quoted in<br>an active market** | **Assets not quoted<br>in an active market** | **Assets not quoted<br>in an active market** | **Total** | **Total** |
|  Cash and due from financial institutions | W | W | 2670983 | W | 2670983 |
|  Debt securities |  |  | 118108 |  | 118108 |
|  Investment fund |  |  | 23121 |  | 23121 |
|  | W | W | 2812212 | W | 2812212 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Assets quoted in<br>an active market** | **Assets not quoted<br>in an active market** | **Assets not quoted<br>in an active market** | **Total** | **Total** |
|  Cash and due from financial institutions | W | W | 2601582 | W | 2601582 |
|  Derivative instruments |  |  | 93416 |  | 93416 |
|  Investment fund |  |  | 849 |  | 849 |
|  | W | W | 2695847 | W | 2695847 |

---

25.7 Details of significant actuarial assumptions used as of December 31, 2025 and 2024, are as follows:

---

| | | |
|:---|:---|:---|
|  | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
|  Discount rate (%) | 3.00~4.00 | 3.10~3.70 |
|  Salary increase rate (%) | 0.00~7.00 | 0.00~7.00 |
|  Turnover rate (%) | 0.00~47.65 | 0.00~38.60 |

---

Mortality assumptions are based on the experience-based mortality table issued by Korea Insurance Development Institute in 2023.

25.8 Results of sensitivity analysis of significant actuarial assumptions as of December 31, 2024, are as follows:

---

| | | | |
|:---|:---|:---|:---|
| | **Changes in<br>assumptions** | **Effect on defined benefit obligation** | **Effect on defined benefit obligation** |
| | **Changes in<br>assumptions** | **Increase in**<br>**assumptions** | **Decrease in**<br>**assumptions** |
|  Discount rate | 0.5%p | 3.25% decrease | 3.43% increase |
|  Salary increase rate | 0.5%p | 3.43% increase | 3.28% decrease |
|  Turnover rate | 0.5%p | 0.19% decrease | 0.19% increase |

---

The above sensitivity analysis is based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. The sensitivity of the defined benefit obligation to changes in significant actuarial assumptions is calculated using the same projected unit credit method used in calculating the defined benefit obligation recognized in the consolidated statement of financial position.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

25.9 Expected maturity analysis of undiscounted pension benefit payments (including expected future benefit) as of December 31, 2025, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **Up to**<br>**1 year** | **Up to**<br>**1 year** | **1~2 years** | **1~2 years** | **2~5 years** | **2~5 years** | **5~10 years** | **5~10 years** | **Over**<br>**10 years** | **Over**<br>**10 years** | **Total** | **Total** |
|  Pension benefits \* | W | 260746 | W | 298747 | W | 877376 | W | 1381543 | W | 3695296 | W | 6513708 |

---

\* Amount determined under the promotion compensation type defined contribution plan is excluded. 

The weighted average duration of the defined benefit obligation is 1 ~ 11 years.

25.10 Reasonable estimation of expected contribution to plan assets for the next annual reporting period after December 31, 2025 is W 233,390 million.

**26. Other Liabilities** 

Details of other liabilities as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  **Other financial liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other payables | W | 19797372 | W | 15229554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid card and debit card payables |  | 38214 |  | 36125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses |  | 5548330 |  | 5862874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial guarantee contracts liabilities |  | 61811 |  | 31668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits for letter of guarantees and others |  | 812595 |  | 1079417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domestic exchange settlement credits |  | 98133 |  | 295326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign exchange settlement credits |  | 266026 |  | 268794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings of other accounting businesses |  | 18849 |  | 4404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due to trust accounts |  | 11137898 |  | 8232002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liabilities incurred from agency relationships |  | 765269 |  | 794661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Account for agency business |  | 925566 |  | 733654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend payables |  | 2218 |  | 1836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lease liabilities |  | 901113 |  | 964399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 95863 |  | 60169 |
|  |  | 40469257 |  | 33594883 |
|  **Other non-financial liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other payables |  | 439658 |  | 395951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unearned revenue |  | 376310 |  | 367468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses |  | 1329545 |  | 1153956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred revenue on credit card points |  | 233455 |  | 238584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withholding taxes |  | 356720 |  | 286435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 446518 |  | 392385 |
|  |  | 3182206 |  | 2834779 |
|  | W | 43651463 | W | 36429662 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**27. Equity** 

27.1 Share Capital

27.1.1 Details of share capital as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won and in number of shares)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
| Type of share | Ordinary share | Ordinary share | Ordinary share | Ordinary share |
|  Number of authorized shares |  | 1000000000 |  | 1000000000 |
|  Par value per share *(In Korean won)* | W | 5000 | W | 5000 |
|  Number of issued shares |  | 381462103 |  | 393528423 |
|  Share capital \* | W | 2090558 | W | 2090558 |

---

\* Due to the retirement of shares deducted through retained earnings, it is different from the total par value of the shares issued. 

27.1.2 Changes in outstanding shares for the years ended December 31, 2025 and 2024, are as follows:

---

| | | |
|:---|:---|:---|
| *(In number of shares)* | **2025** | **2024** |
|  Beginning | 373600719 | 378663825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase |  | 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease | (15012997) | (10063106) |
|  Ending | 358587722 | 373600719 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

27.2 Hybrid Securities

Details of hybrid securities classified as equity as of December 31, 2025 and 2024, are as follows:

*(In millions of Korean won)* 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Hybrid**<br> **securities** | **Issuance date** | **Maturity** | **Interest rate (%)**<br>**as of**<br>**December 31, 2025** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Series 1-2 | May 2, 2019 | Perpetual bond | 3.44 | W | 49896 | W | 49896 |
|  Series 2-1 \* | May 8, 2020 | Perpetual bond | 3.30 |  |  |  | 324099 |
|  Series 2-2 | May 8, 2020 | Perpetual bond | 3.43 |  | 74812 |  | 74812 |
|  Series 3-1 \* | Jul. 14, 2020 | Perpetual bond | 3.17 |  |  |  | 369099 |
|  Series 3-2 | Jul. 14, 2020 | Perpetual bond | 3.38 |  | 29922 |  | 29922 |
|  Series 4-1 \* | Oct. 20, 2020 | Perpetual bond | 3.00 |  |  |  | 433996 |
|  Series 4-2 | Oct. 20, 2020 | Perpetual bond | 3.28 |  | 64855 |  | 64855 |
|  Series 5-1 | Feb. 19, 2021 | Perpetual bond | 2.67 |  | 419071 |  | 419071 |
|  Series 5-2 | Feb. 19, 2021 | Perpetual bond | 2.87 |  | 59862 |  | 59862 |
|  Series 5-3 | Feb. 19, 2021 | Perpetual bond | 3.28 |  | 119727 |  | 119727 |
|  Series 6-1 | May 28, 2021 | Perpetual bond | 3.20 |  | 165563 |  | 165563 |
|  Series 6-2 | May 28, 2021 | Perpetual bond | 3.60 |  | 109708 |  | 109708 |
|  Series 7-1 | Oct. 8, 2021 | Perpetual bond | 3.57 |  | 208468 |  | 208468 |
|  Series 7-2 | Oct. 8, 2021 | Perpetual bond | 3.80 |  | 59834 |  | 59834 |
|  Series 8-1 | Feb. 16, 2022 | Perpetual bond | 4.00 |  | 442970 |  | 442970 |
|  Series 8-2 | Feb. 16, 2022 | Perpetual bond | 4.30 |  | 155626 |  | 155626 |
|  Series 9-1 | May 12, 2022 | Perpetual bond | 4.68 |  | 478829 |  | 478829 |
|  Series 9-2 | May 12, 2022 | Perpetual bond | 4.97 |  | 19906 |  | 19906 |
|  Series 10-1 | Aug. 26, 2022 | Perpetual bond | 4.90 |  | 407936 |  | 407936 |
|  Series 10-2 | Aug. 26, 2022 | Perpetual bond | 5.15 |  | 70819 |  | 70819 |
|  Series 10-3 | Aug. 26, 2022 | Perpetual bond | 5.30 |  | 19944 |  | 19944 |
|  Series 11-1 | Feb. 03, 2023 | Perpetual bond | 4.90 |  | 548681 |  | 548681 |
|  Series 11-2 | Feb. 03, 2023 | Perpetual bond | 5.03 |  | 49871 |  | 49871 |
|  Series 12 | Feb. 28, 2024 | Perpetual bond | 4.39 |  | 399060 |  | 399084 |
|  Series 13 | Jan. 22, 2025 | Perpetual bond | 4.00 |  | 404028 |  |  |
|  |  |  |  | W | 4359388 | W | 5082578 |

---

\* The Parent Company early redeemed in full its 2-1 Additional Tier 1 capital securities amounting to W 325,000 million on May 8, 2025, and its 3-1 Additional Tier 1 capital securities amounting to W 370,000 million on July 14, 2025, following the exercise of the respective call options. In addition, the 4-1 Additional Tier 1 capital securities amounting to W 435,000 million were fully redeemed on October 20, 2025, upon the exercise of the call option. 

The above hybrid securities are early redeemable by the Group after 5 or 7 or 10 years from the issuance date. On the other hand, hybrid securities of W 1,065,613 million issued by Kookmin Bank, hybrid securities of W 232,672 million issued by KB Securities Co., Ltd. and hybrid securities of W 49,800 million issued by KB Life Insurance Co., Ltd., hybrid securities of W 249,150 million issued by KB Kookmin Card Co., Ltd. and hybrid securities of W 19,993 million issued by KB Real Estate Trust Co., Ltd. are recognized as non-controlling interests and are early redeemable after 5 years from the issuance date and each interest payment date thereafter.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

27.3 Capital Surplus

Details of capital surplus as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Paid-in capital in excess of par value | W | 13190274 | W | 13190274 |
|  Losses on sales of treasury shares |  | (477358) |  | (477358) |
|  Other capital surplus |  | 3920602 |  | 3933818 |
|  | W | 16633518 | W | 16646734 |

---

27.4 Accumulated Other Comprehensive Income

Details of accumulated other comprehensive income as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Remeasurements of net defined benefit liabilities | W | (218626) | W | (247241) |
|  Currency translation differences |  | 761727 |  | 809089 |
|  Gains (losses) on financial instruments at fair value through other comprehensive income |  | (3396899) |  | (1518990) |
|  Share of other comprehensive loss of associates and joint ventures |  | (1135) |  | (3153) |
|  Gains (losses) on cash flow hedging instruments |  | (157512) |  | 108318 |
|  Losses on hedging instruments of net investments in foreign operations |  | (276478) |  | (316109) |
|  Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk |  | (20536) |  | (17314) |
|  Finance gains or losses on insurance contract assets (liabilities) |  | 2842003 |  | 1682322 |
|  | W | (467456) | W | 496922 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

27.5 Retained Earnings

27.5.1 Details of retained earnings as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Legal reserves <sup>1</sup> | W | 1436870 | W | 1219810 |
|  Voluntary reserves |  | 982000 |  | 982000 |
|  Retained earnings <sup>2</sup> |  | 35914871 |  | 32606410 |
|  | W | 38333741 | W | 34808220 |

---

<sup>1</sup> With respect to the allocation of net profit earned in a fiscal term, the Parent Company must set aside in its legal reserve an amount equal to at least 10% of its profit after tax as reported in the financial statements, each time it pays dividends on its net profits earned until its legal reserve reaches the aggregate amount of its paid-in capital in accordance with Article 53 of the Financial Holding Company Act. This reserve is not available for the payment of cash dividends, but may be transferred to share capital, or used to reduce accumulated deficit. 

<sup>2</sup> The regulatory reserve for credit losses the Group appropriated in retained earnings is W 4,190,070 million and W 4,370,051 million for the years ended December 31, 2025 and 2024, respectively.

27.5.2 Regulatory reserve for credit losses

Measurement and disclosure of regulatory reserve for credit losses are required in accordance with Articles 26 through 28 of Regulations on Supervision of Financial Holding Companies.

27.5.2.1 Details of regulatory reserve for credit losses as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Regulatory reserve for credit losses attributable to: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholders of the Parent Company | W | 4190070 | W | 4370051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-controlling interests |  | 139144 |  | 169603 |
|  | W | 4329214 | W | 4539654 |

---

27.5.2.2 Regulatory reserve for credit losses estimated to be appropriated and adjusted profit after provision of regulatory reserve for credit losses for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won, except for earnings per share)* | **2025** | **2025** | **2024** | **2024** |
|  Provision of regulatory reserve for credit losses | W | (179981) | W | 49545 |
|  Adjusted profit after provision of regulatory reserve for credit losses <sup>1,2</sup> |  | 5810751 |  | 4828877 |
|  Adjusted basic earnings per share after provision of regulatory reserve for credit losses <sup>1</sup> |  | 15903 |  | 12749 |
|  Adjusted diluted earnings per share after provision of regulatory reserve for credit losses <sup>1</sup> |  | 15748 |  | 12597 |

---

<sup>1</sup> Adjusted profit after provision of regulatory reserve for credit losses is not based on Korean IFRS. It is calculated by reflecting provision of regulatory reserve for credit losses before tax to the net profit attributable to shareholders of the Parent Company.

<sup>2</sup> After deducting dividends on hybrid securities

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

27.6 Treasury Shares

Changes in treasury shares for the years ended December 31, 2025 and 2024, are as follows:

*(In millions of Korean won and in number of shares)* 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Disposal** | **Retirement** | **Retirement** | **Ending** |
|  Number of treasury shares |  | 19927704 |  | 15012997 |  |  | (12066320) | 22874381 |
|  Carrying amount | W | 1236060 | W | 1480000 | W | W | (814522) | 1901538 |

---

*(In millions of Korean won and in number of shares)* 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Disposal** | **Disposal** | **Retirement** | **Retirement** | **Ending** |
|  Number of treasury shares \* |  | 24847247 |  | 10063106 |  | (5000000) |  | (9982649) | 19927704 |
|  Carrying amount | W | 1165837 | W | 820000 | W | (234600) | W | (515177) | 1236060 |

---

\* 5 million treasury shares are deposited at the Korea Securities Depository for the exchange of exchangeable bonds were exchanged on February 14, 2024, due to the exercise of exchange rights.

On May 15, 2025, the Parent Company retired 4,575,874 treasury shares (W 400,000 million) acquired pursuant to the Board resolution dated July 23, 2024, 1,089,097 treasury shares (W 100,000 million) acquired pursuant to the Board resolution dated October 24, 2024, and 6,401,349 treasury shares (W 520,000 million) acquired pursuant to the Board resolution dated February 5, 2025. In addition, the Parent Company retired 3,047,395 treasury shares (W 300,000 million) acquired pursuant to the Board resolution dated April 24, 2025, and 5,564,253 treasury shares (W 660,000 million) acquired pursuant to the Board resolution dated July 24, 2025, on January 15, 2026.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**28. Net Interest Income** 

Details of interest income, interest expense, and net interest income for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Interest income** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions measured at fair value through profit or loss | W | 2598 | W | 2889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at fair value through profit or loss |  | 1380773 |  | 1422251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at fair value through profit or loss |  | 52781 |  | 33372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at fair value through other comprehensive income |  | 2794599 |  | 2693188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at fair value through other comprehensive income |  | 72062 |  | 55314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions measured at amortized cost |  | 356944 |  | 395886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities measured at amortized cost |  | 1113363 |  | 1236448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  | 22673204 |  | 24006088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance finance income |  | 37205 |  | 31317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 672571 |  | 614632 |
|  |  | 29156100 |  | 30491385 |
|  **Interest expense** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits |  | 9097941 |  | 10379055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings |  | 2141511 |  | 2548842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 2635724 |  | 2623198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance finance expense |  | 1504488 |  | 1477757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 703343 |  | 635819 |
|  |  | 16083007 |  | 17664671 |
|  **Net interest income** | W | 13073093 | W | 12826714 |

---

Interest income recognized on impaired loans is W 76,193 million and W 92,741 million for the years ended December 31, 2025 and 2024, respectively.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**29. Net Fee and Commission Income** 

Details of fee and commission income, fee and commission expense, and net fee and commission income for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Fee and commission income** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banking activity fees | W | 198799 | W | 187563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lending activity fees |  | 96611 |  | 113553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit card and debit card related fees |  | 1570928 |  | 1661516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agent activity fees |  | 258501 |  | 215382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trust and other fiduciary fees |  | 339684 |  | 288097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fund management related fees |  | 198378 |  | 140107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acceptances and guarantees fees |  | 81563 |  | 95588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency related fees |  | 450349 |  | 362449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities agency fees |  | 169495 |  | 123833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other business account commission on consignment |  | 30096 |  | 34453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commissions received on securities business |  | 774028 |  | 663054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lease fees |  | 1078431 |  | 1120384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 526658 |  | 475864 |
|  |  | 5773521 |  | 5481843 |
|  **Fee and commission expense** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trading activity related fees \* |  | 55548 |  | 49631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lending activity fees |  | 43996 |  | 35312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit card and debit card related fees |  | 815743 |  | 824532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Outsourcing related fees |  | 135254 |  | 149810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency related fees |  | 127540 |  | 118475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 497153 |  | 454456 |
|  |  | 1675234 |  | 1632216 |
|  **Net fee and commission income** | W | 4098287 | W | 3849627 |

---

\* Fees from financial instruments at fair value through profit or loss

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**30. Net Gains or Losses on Financial Instruments at Fair Value through Profit or Loss** 

30.1 Net Gains or Losses on Financial Instruments at Fair Value through Profit or Loss

Net gains or losses on financial instruments at fair value through profit or loss include dividend income, gains or losses arising from changes in fair value, and gains or losses arising from sales and redemptions. Details of net gains or losses on financial instruments at fair value through profit or loss for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Gains on financial instruments at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities | W | 4415446 | W | 3571736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 3130422 |  | 750633 |
|  |  | 7545868 |  | 4322369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest rate |  | 5127237 |  | 5053285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency |  | 9818150 |  | 17434391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock or stock index |  | 2840047 |  | 2394867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit |  | 63269 |  | 46619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commodity |  | 134685 |  | 63666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 85409 |  | 64960 |
|  |  | 18068797 |  | 25057788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss |  | 164479 |  | 356827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial instruments |  | 477 |  | 522 |
|  |  | 25779621 |  | 29737506 |
|  **Losses on financial instruments at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 2093258 |  | 1491166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 518373 |  | 917182 |
|  |  | 2611631 |  | 2408348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivatives held for trading: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest rate |  | 4480618 |  | 5170159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency |  | 9559853 |  | 18093278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock or stock index |  | 4194702 |  | 2120380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit |  | 60622 |  | 43821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commodity |  | 112210 |  | 57086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 72498 |  | 155760 |
|  |  | 18480503 |  | 25640484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss |  | 792923 |  | 358441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial instruments |  | 1551 |  | 692 |
|  |  | 21886608 |  | 28407965 |
|  **Net gains(losses) on financial instruments at fair value through profit or loss** | W | 3893013 | W | 1329541 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

30.2 Net Gains or Losses on Financial Instruments Designated at Fair Value through Profit or Loss

Net gains or losses on financial instruments designated at fair value through profit or loss include gains or losses arising from changes in fair value, and gains or losses arising from sales and redemptions. Details of net gains or losses on financial instruments designated at fair value through profit or loss for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Gains on financial instruments designated at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities designated at fair value through profit or loss | W | 144141 | W | 323412 |
|  |  | 144141 |  | 323412 |
|  **Losses on financial instruments designated at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities designated at fair value through profit or loss |  | 656949 |  | 640872 |
|  |  | 656949 |  | 640872 |
|  **Net gains(losses) on financial instruments designated at fair value through profit or loss** | W | (512808) | W | (317460) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**31. Net Other Operating Income and Expenses** 

Details of other operating income and expenses for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Other operating income** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on securities at fair value through other comprehensive income: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on redemption of securities at fair value through other comprehensive income | W | 2939 | W | 9738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on disposal of securities at fair value through other comprehensive income |  | 254985 |  | 128169 |
|  |  | 257924 |  | 137907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on financial assets at amortized cost: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on sale of loans measured at amortized cost |  | 177608 |  | 136706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on disposal of securities measured at amortized cost |  | 1039 |  | 1019 |
|  |  | 178647 |  | 137725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on hedge accounting |  | 267782 |  | 480584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on foreign exchange transactions |  | 6317310 |  | 6070151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend income |  | 148954 |  | 86524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 830162 |  | 673191 |
|  |  | 8000779 |  | 7586082 |
|  **Other operating expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on securities at fair value through other comprehensive income: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on redemption of securities at fair value through other comprehensive income |  | 8 |  | 66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on disposal of securities at fair value through other comprehensive income |  | 158909 |  | 242846 |
|  |  | 158917 |  | 242912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on financial assets at amortized cost: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on sale of loans measured at amortized cost |  | 567474 |  | 115318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on disposal of securities measured at amortized cost |  | 4 |  |  |
|  |  | 567478 |  | 115318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on hedge accounting |  | 343860 |  | 425612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on foreign exchange transactions |  | 6318078 |  | 5375351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposit insurance fee |  | 622074 |  | 590148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit guarantee fund fee |  | 414449 |  | 362234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation expenses of operating lease assets |  | 662825 |  | 701917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 1796173 |  | 1645601 |
|  |  | 10883854 |  | 9459093 |
|  **Net other operating expenses** | W | (2883075) | W | (1873011) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**32. General and Administrative Expenses** 

32.1 Details of general and administrative expenses for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Expenses related to employee** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee benefits - salaries | W | 2828338 | W | 2707446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee benefits - others |  | 840337 |  | 855152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Post-employment benefits - defined benefit plans |  | 192787 |  | 177481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Post-employment benefits - defined contribution plans |  | 37143 |  | 33995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Termination benefits |  | 263003 |  | 306617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based payments |  | 153882 |  | 140453 |
|  |  | 4315490 |  | 4221144 |
|  **Depreciation and amortization** |  | 914686 |  | 916295 |
|  **Other general and administrative expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rental expense |  | 95533 |  | 92392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax and dues |  | 341774 |  | 324621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication |  | 44604 |  | 48223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electricity and utilities |  | 47215 |  | 49063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Publication |  | 6800 |  | 7813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Repairs and maintenance |  | 52066 |  | 52298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vehicle |  | 19536 |  | 18313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Travel |  | 14913 |  | 16881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Training |  | 46098 |  | 43118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service fees |  | 234994 |  | 249774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electronic data processing expenses |  | 379660 |  | 352985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advertising |  | 235095 |  | 230656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 316109 |  | 315048 |
|  |  | 1834397 |  | 1801185 |
|  | W | 7064573 | W | 6938624 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

32.2 Share-based Payments

32.2.1 Stock grants

The Group changed the scheme of share-based payments awarded to executives and employees from stock options to stock grants in November 2007. The stock grants award program is an incentive plan that sets on grant date, the maximum number of shares that can be awarded. Actual shares to be granted is determined in accordance with achievement of pre-set performance targets over the vesting period.

32.2.1.1 Details of stock grants linked to long-term performance as of December 31, 2025, are as follows:

---

| | | | |
|:---|:---|:---|:---|
| *(In number of shares)* | **Grant date** | **Number of<br>granted shares <sup>1</sup>** | **Vesting conditions <sup>2</sup>**  |
|  **KB Financial Group Inc.** | **KB Financial Group Inc.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 38 | Nov. 21, 2023 | 55547 | Services fulfillment, market performance <sup>3</sup> 35%, and non-market performance <sup>5</sup> 65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 39 | Jan. 1, 2024 | 47839 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 40 | Feb. 1, 2024 | 489 | Services fulfillment, market performance <sup>3</sup> 30%, and non-market performance <sup>4</sup> 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 41 | Apr. 6, 2024 | 6450 | Services fulfillment, market performance <sup>3</sup> 30%, and non-market performance <sup>4</sup> 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 43 | Jan. 1, 2025 | 33538 | Services fulfillment, market performance <sup>3</sup> 0%, and non-market performance <sup>4</sup> 100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 44 | Apr. 7, 2025 | 5540 | Services fulfillment, market performance <sup>3</sup> 0%, and non-market performance <sup>4</sup> 100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2015 |  | 1063 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2020 |  | 40 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2022 |  | 13239 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2023 |  | 46315 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2024 |  | 25541 | Satisfied |
|  |  | 235601 |  |
|  **Kookmin Bank** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 96 | Jan. 1, 2024 | 220113 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% Services fulfillment, market performance <sup>3</sup> 30%, and non-market<br> performance <sup>6</sup> 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 97 | Feb. 1, 2024 | 2045 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 98 | Apr. 22, 2024 | 2962 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 99 | July. 5, 2024 | 4929 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 101 | Aug. 24, 2024 | 4453 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 102 | Jan. 1, 2025 | 179314 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% Services fulfillment, market performance <sup>3</sup> 30%, and non-market<br> performance <sup>6</sup> 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 103 | Jan. 9, 2025 | 4633 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

32.2.1.1 Details of stock grants linked to long-term performance as of December 31, 2025, are as follows: (cont'd)

---

| | | | |
|:---|:---|:---|:---|
| *(In number of shares)* | **Grant date** | **Number of<br>granted shares <sup>1</sup>** | **Vesting conditions <sup>2</sup>**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2022 |  | 29628 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2023 |  | 93891 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2024 |  | 118288 | Satisfied |
|  |  | 660256 | Satisfied |
|  **Other subsidiaries** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2012 |  | 160 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2013 |  | 219 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2014 |  | 1028 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 |  | 1155 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2017 |  | 3955 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2018 |  | 11044 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2019 |  | 13255 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 |  | 25783 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2021 |  | 18692 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 |  | 79498 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 |  | 119878 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 |  | 453356 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 |  | 248205 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
|  |  |  | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
|  |  | 976228 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
|  |  |  | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
|  |  | 1872085 | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |
|  |  |  | Services fulfillment, market performance <sup>3</sup> 0~50%,<br> and non-market performance <sup>4</sup> 50~100% |

---

<sup>1</sup> Granted shares represent the total number of shares initially granted to executives and employees who have residual shares as of December 31, 2025 (Deferred grants are residual shares vested as of December 31, 2025). 

<sup>2</sup> Executives and employees were given the right of choice about the timing of the deferred payment (after the date of retirement), payment ratio, and payment period. Accordingly, a certain percentage of the granted shares is deferred for up to five years after the date of retirement after the deferred grant has been confirmed. 

<sup>3</sup> Relative TSR (Total Shareholder Return): [(Fair value at the end of the contract - Fair value at the beginning of the contract) + (Total amount of dividend per share paid during the contract period)] / Fair value at the beginning of the contract 

<sup>4</sup> Performance results of company and employee

<sup>5</sup> EPS (Earnings Per Share), Asset Quality, HCROI (Human Capital Return On Investment), Non-bank segment profit

<sup>6</sup> EPS, Asset Quality

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

32.2.1.2 Details of stock grants linked to short-term performance as of December 31, 2025, are as follows:

---

| | | |
|:---|:---|:---|
| *(In number of shares)* | **Estimated number of**<br>**vested shares \*** | **Vesting**<br> **conditions** |
|  **KB Financial Group Inc.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 | 541 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2016 | 1558 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 | 78 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 14653 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 26317 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 23462 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 15312 | Proportional to service period |
|  **Kookmin Bank** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 54211 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 118021 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 97412 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 57301 | Proportional to service period |
|  **Other subsidiaries** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 | 1289 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2016 | 7290 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2017 | 20121 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2018 | 51583 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2019 | 41130 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 | 48423 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2021 | 81625 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 202086 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 409430 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 421073 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 90545 | Proportional to service period |
|  | 1783461 |  |

---

\* Executives and employees were given the right of choice about the timing of the deferred payment (after the date of retirement), payment ratio, and payment period. Accordingly, a certain percentage of the granted shares is deferred for up to five years after the date of retirement after the deferred grant has been confirmed. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

32.2.1.3 Stock grants are measured at fair value using the MonteCarlo simulation model and assumptions used in measuring the fair value as of December 31, 2025, are as follows:

---

| | | | |
|:---|:---|:---|:---|
| *(In Korean won)* | **Risk-free<br>rate (%)** | **Fair value (market<br>performance condition)** | **Fair value (non-market<br>performance condition)** |
|  **Linked to long-term performance** | **Linked to long-term performance** |  |  |
|  (KB Financial Group Inc.) | (KB Financial Group Inc.) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 38 | 2.56 | 99,026~110,857 | 107,743~120,615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 39 | 2.56 | 111,412~125,944 | 111,412~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 40 | 2.56 | 111,412~125,944 | 111,412~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 41 | 2.56 | 107,266~120,094 | 107,266~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 43 | 2.56 | 98,255~115,478 | 107,266~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 44 | 2.56 | 102,397~114,527 | 103,317~115,556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2015 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2020 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2022 | 2.56 |  | 120,094~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2023 | 2.56 |  | 52,755~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2024 | 2.56 |  | 115,556~125,944 |
|  (Kookmin Bank) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 96 | 2.56 | 111,412~125,944 | 111,412~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 97 | 2.56 | 107,266~120,094 | 107,266~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 98 | 2.56 | 107,266~120,094 | 107,266~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 99 | 2.56 | 105,560~118,184 | 107,266~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 101 | 2.56 | 107,266~120,094 | 107,266~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 102 | 2.56 | 88,430~110,006 | 99,417~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 103 | 2.56 | 94,586~105,791 | 103,317~115,556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grant deferred in 2022 | 2.56 |  | 115,556~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grant deferred in 2023 | 2.56 |  | 115,556~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grant deferred in 2024 | 2.56 |  | 115556 |
|  (Other subsidiaries) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2012 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2013 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2014 | 2.56 |  | 52,755~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 | 2.56 |  | 47,631~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2017 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2018 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2019 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2021 | 2.56 |  | 111,412~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 2.56 |  | 52,755~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 2.56 | 102,345~125,944 | 61,294~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 2.56 | 103,576~125,944 | 87,156~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 2.56 | 92,561~118,840 | 80,274~125,944 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

32.2.1.3 Stock grants are measured at fair value using the MonteCarlo simulation model and assumptions used in measuring the fair value as of December 31, 2025, are as follows: (cont'd)

---

| | | | |
|:---|:---|:---|:---|
| *(In Korean won)* | **Risk-free<br>rate (%)** | **Fair value (market<br>performance condition)** | **Fair value (non-market<br>performance condition)** |
|  **Linked to short-term performance** | **Linked to short-term performance** |  |  |
|  (KB Financial Group Inc.) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2016 | 2.56 |  | 115,556~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 2.56 |  | 120,094~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 2.56 |  | 111,412~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 2.56 |  | 111,412~120,094 |
|  (Kookmin Bank) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 2.56 |  | 114,461~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 2.56 |  | 62,951~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 2.56 |  | 80,206~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 2.56 |  | 99,417~120,094 |
|  (Other subsidiaries) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 | 2.56 |  | 120,094~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2016 | 2.56 |  | 47,631~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2017 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2018 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2019 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 | 2.56 |  | 50,973~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2021 | 2.56 |  | 87,156~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 2.56 |  | 52,755~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 2.56 |  | 87,156~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 2.56 |  | 87,156~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 2.56 |  | 103,317~123,506 |

---

The Group uses the volatility of the stock price over the previous year as the expected volatility, and uses the arithmetic mean of the price-dividend ratio of one year before, two years before, and three years before the base year as the dividend yield and uses one-year risk-free rate of Korea Treasury Bond in order to measure the fair value.

32.2.1.4 The accrued expenses for share-based payments related to stock grants are W 395,692 million and W 295,867 million as of December 31, 2025 and 2024, respectively, and the compensation costs amounting to W 184,910 million and W 162,406 million were recognized for the years ended December 31, 2025 and 2024, respectively.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

32.2.2 Mileage stock

32.2.2.1 Details of mileage stock as of December 31, 2025, are as follows:

*(In number of shares)* 

---

| | | | |
|:---|:---|:---|:---|
| **Grant date** | **Number of**<br>**granted shares <sup>1</sup>** | **Expected exercise<br>period (years) <sup>2</sup>** | **Remaining shares <sup>1</sup>** |
|  *Stock granted in 2021* |  |  |  |
|  Jan. 15, 2021 | 28156 | 0.00~0.04 | 8439 |
|  Apr. 5, 2021 | 89 | 0.00~0.26 | 53 |
|  Jul. 1, 2021 | 54 | 0.00~0.50 | 18 |
|  Jul. 2, 2021 | 11 | 0.00~0.50 | 8 |
|  Jul. 27, 2021 | 70 | 0.00~0.57 | 25 |
|  Nov. 1, 2021 | 71 | 0.00~0.83 | 53 |
|  Nov. 16, 2021 | 53 | 0.00~0.87 | 3 |
|  Dec. 3, 2021 | 91 | 0.00~0.92 | 39 |
|  Dec. 6, 2021 | 87 | 0.00~0.93 | 25 |
|  Dec. 30, 2021 | 76 | 0.00~0.99 | 38 |
|  *Stock granted in 2022* |  |  |  |
|  Jan. 14, 2022 | 20909 | 0.00~1.04 | 9025 |
|  Apr. 4, 2022 | 65 | 0.00~1.25 | 33 |
|  Apr. 19, 2022 | 33 | 0.00~1.30 | 20 |
|  Aug. 3, 2022 | 62 | 0.00~1.59 | 6 |
|  Aug. 9, 2022 | 80 | 0.00~1.60 | 17 |
|  Oct. 19, 2022 | 55 | 0.00~1.80 | 5 |
|  Nov. 1, 2022 | 177 | 0.00~1.83 | 52 |
|  Dec. 1, 2022 | 49 | 0.00~1.92 | 48 |
|  Dec. 6, 2022 | 88 | 0.00~1.93 | 8 |
|  Dec. 12, 2022 | 114 | 0.00~1.95 | 48 |
|  Dec. 15, 2022 | 42 | 0.00~1.95 | 23 |
|  Dec. 30, 2022 | 114 | 0.00~1.99 | 25 |
|  *Stock granted in 2023* |  |  |  |
|  Jan. 9, 2023 | 23071 | 0.00~2.02 | 8063 |
|  Jan. 14, 2023 | 742 | 0.00~2.04 | 313 |
|  Mar. 27, 2023 | 58 | 0.00~2.23 | 37 |
|  Mar. 31, 2023 | 97 | 0.00~2.24 | 39 |
|  May 4, 2023 | 105 | 0.00~2.34 | 22 |
|  Jul. 3, 2023 | 63 | 0.00~2.50 | 21 |
|  Jul. 26, 2023 | 38 | 0.00~2.56 | 24 |
|  Jul. 31, 2023 | 220 | 0.00~2.58 | 62 |
|  Oct. 20, 2023 | 80 | 0.00~2.80 | 42 |
|  Nov. 1, 2023 | 78 | 0.00~2.83 | 39 |
|  Dec. 1, 2023 | 49 | 0.00~2.92 | 36 |
|  Dec. 13, 2023 | 115 | 0.00~2.95 | 29 |
|  Dec. 14, 2023 | 57 | 0.00~2.95 | 50 |
|  Dec. 27, 2023 | 19 | 0.00~2.99 | 14 |
|  Dec. 28, 2023 | 162 | 0.00~2.99 | 71 |
|  Dec. 29, 2023 | 95 | 0.00~2.99 | 76 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

32.2.2.1 Details of mileage stock as of December 31, 2025, are as follows: (cont'd)

*(In number of shares)* 

---

| | | | |
|:---|:---|:---|:---|
| **Grant date** | **Number of**<br>**granted shares <sup>1</sup>** | **Expected exercise<br>period (years) <sup>2</sup>** | **Remaining shares<sup>1</sup>** |
|  *Stock granted in 2024* |  |  |  |
|  Jan. 13, 2024 | 17523 | 0.00~3.03 | 10717 |
|  Jan. 31, 2024 | 297 | 0.00~3.08 | 215 |
|  Apr. 1, 2024 | 89 | 0.00~3.25 | 50 |
|  Jul. 1, 2024 | 38 | 0.00~3.50 | 38 |
|  Aug. 1, 2024 | 141 | 0.00~3.58 | 91 |
|  Sep. 2, 2024 | 14 | 0.00~3.67 | 8 |
|  Nov. 1, 2024 | 55 | 0.00~3.84 | 44 |
|  Dec. 4, 2024 | 26 | 0.00~3.93 | 26 |
|  Dec. 19, 2024 | 88 | 0.00~3.97 | 88 |
|  Dec. 30, 2024 | 73 | 0.00~4.00 | 72 |
|  *Stock granted in 2025* |  |  |  |
|  Jan. 11, 2025 | 11977 | 0.00~4.03 | 11358 |
|  Feb. 6, 2025 | 162 | 0.00~4.10 | 162 |
|  Apr. 1, 2025 | 38 | 0.00~4.25 | 25 |
|  May. 9, 2025 | 13 | 0.00~4.35 | 13 |
|  Jul. 1, 2025 | 18 | 0.00~4.50 | 18 |
|  Nov. 3, 2025 | 26 | 0.00~4.84 | 26 |
|  Dec. 5, 2025 | 21 | 0.00~4.93 | 21 |
|  Dec. 26, 2025 | 68 | 0.00~4.99 | 68 |
|  Dec. 29, 2025 | 16 | 0.00~4.99 | 16 |
|  | 106278 |  | 50005 |

---

<sup>1</sup> Mileage stock is exercisable for four years after one year from the grant date at the closing price of the end of the previous month. However, mileage stock can be exercised at the closing price of the end of the previous month on the date of occurrence of retirement or transfer despite a one-year lock-up period. 

<sup>2</sup> Assessed based on the stock price as of December 31, 2025. These shares are vested immediately at grant date.

32.2.2.2 The accrued expenses for share-based payments related to mileage stock are W 6,236 million and W 5,067 million as of December 31, 2025 and 2024, respectively. The compensation costs amounting to W 3,276 million and W 3,183 million were recognized as expenses for the years ended December 31, 2025 and 2024, respectively.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**33. Net Other Non-Operating Income and Expenses** 

Details of other non-operating income and expenses for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Other non-operating income** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on disposal of property and equipment | W | 304115 | W | 29515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rental income |  | 25863 |  | 26023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 352472 |  | 128794 |
|  |  | 682450 |  | 184332 |
|  **Other non-operating expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on disposal of property and equipment |  | 2061 |  | 5080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Donation |  | 168515 |  | 152037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restoration costs |  | 2602 |  | 2922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Management cost for written-off loans |  | 4902 |  | 3888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses on goodwill |  | 223871 |  | 60273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others \* |  | 641916 |  | 1003262 |
|  |  | 1043867 |  | 1227462 |
|  **Net other non-operating income (expenses)** | W | (361417) | W | (1043130) |

---

<sup>\*</sup> Expenses of W333,002 million were recognized as other provisions in relation to ELS, LTV penalties, and other matters for the year ended December 31, 2025, and expenses of W744,764 million were recognized in connection with voluntary compensation for the performance of Hang Seng China Enterprises Index for the year ended December 31, 2024. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**34. Income Tax Expense** 

34.1 Details of income tax expense for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Income tax payable** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current income tax payable | W | 2007206 | W | 1594917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adjustments of income tax of prior years recognized in current tax |  | (110464) |  | (27266) |
|  |  | 1896742 |  | 1567651 |
|  **Changes in deferred income tax assets and liabilities \*** |  | 222578 |  | (417219) |
|  **Income tax recognized directly in equity and others** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements of net defined benefit liabilities |  | (9791) |  | 31076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency translation differences |  | 1632 |  | (12919) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gains or losses on financial assets at fair value through other comprehensive income |  | 680947 |  | (421425) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share of other comprehensive income or loss of associates and joint ventures |  | (1390) |  | (170) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on cash flow hedging instruments |  | 29455 |  | (12501) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains or losses on hedging instruments of net investments in foreign operations |  | (8516) |  | 66971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk |  | 1581 |  | 1979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance gains or losses on insurance contract assets (liabilities) |  | (474560) |  | 1139335 |
|  |  | 219358 |  | 792346 |
|  **Others** |  | 3753 |  | 13863 |
|  **Income tax expense** | W | 2342431 | W | 1956641 |

---

\* Following the tax law amendment enacted at the end of 2025, the corporate tax rate was changed. Accordingly, deferred tax assets (liabilities) expected to be realized after 2026 have been measured using the 27.5% tax rate. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

34.2 Analysis of the relationship between net profit before income tax expense and income tax expense for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | **Tax<br>rate<br>(%)** | **Amount** | **Amount** | **Tax<br>rate<br>(%)** | **Amount** | **Amount** |
|  **Profit before income tax expense** |  | W | 8183146 |  | W | 6985247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax at the applicable tax rate <sup>1</sup> | 26.27 |  | 2149988 | 26.25 |  | 1833743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-taxable income | (0.43) |  | (35019) | (0.98) |  | (68560) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-deductible expenses | 0.23 |  | 18923 | 0.34 |  | 23879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax credit and tax exemption | (0.03) |  | (2072) | (0.03) |  | (2067) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Temporary difference for which no deferred tax is recognized | 1.19 |  | 97171 | (1.08) |  | (75701) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in recognition and measurement of deferred tax | 0.91 |  | 74437 | 3.32 |  | 231943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax refund for tax of prior years | (1.13) |  | (92273) | (1.11) |  | (77423) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax expense of overseas branches | 0.72 |  | 59291 | 0.81 |  | 56373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax rate change effect <sup>2</sup> | 1.04 |  | 85286 | 0.00 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others | (0.15) |  | (13301) | 0.50 |  | 34454 |
|  **Average effective tax rate and income tax expense** | 28.63 | W | 2342431 | 28.01 | W | 1956641 |

---

<sup>1</sup> Applicable income tax rate for W 200 million and below is 9.9%, for over W 200 million to W 20,000 million is 20.9%, for over W 20,000 million to W 300,000 million is 23.1% and for over W 300,000 million is 26.4% for the years ended December 31, 2025 and 2024 respectively. 

<sup>2</sup> As a result of the tax law amendment enacted at the end of 2025, the corporate income tax rate has changed. Deferred tax assets and liabilities that are expected to be realized after 2026 are measured using the tax rate of 27.5%. 

34.3 The impact of the global minimum tax

Under the Pillar 2 legislation, the Group is required to pay additional tax on the difference between the jurisdictional GloBE effective tax rate of each constituent entity and the minimum tax rate of 15%. The Parent Company expects to recognize the related effects in its financial statements and pay additional tax for the shortfall from the 15% minimum tax rate arising at its subsidiary in China.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**35. Dividends** 

The annual dividends to the shareholders of the Parent Company for the year ended December 31, 2024, amounted to W298,285 million (W804 per share), which was approved at the annual general meeting of shareholders held on March 26, 2025 and paid on April 15, 2025.

In addition, on April 24, 2025, the Board of Directors resolved a quarterly dividend of W334,339 million (W912 per share) with a record date of May 12, 2025, which was paid on May 22, 2025; on July 24, 2025, the Board of Directors resolved a quarterly dividend of W334,651 million (W920 per share) with a record date of August 11, 2025, which was paid on August 22, 2025; and on October 30, 2025, the Board of Directors resolved a quarterly dividend of W335,016 million (W930 per share) with a record date of November 14, 2025, which was paid on November 27, 2025.

The annual dividends to the shareholders of the Parent Company for the year ended December 31, 2025 amounts to W573,768 million (W1,605 per share) and is expected to be submitted as an agenda item at the annual general meeting of shareholders scheduled for March 26, 2026. These consolidated financial statements do not include any accrual for this proposed dividend.

Meanwhile, the annual dividends to the shareholders of the Parent Company for the year ended December 31, 2023, which were paid in 2024, amounted to W587,006 million (W1,530 per share), and quarterly dividends paid in 2024 amounted to W899,972 million.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**36. Accumulated Other Comprehensive Income (Loss)** 

Changes in accumulated other comprehensive income (loss) for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Changes<br>except for<br>reclassification** | **Changes<br>except for<br>reclassification** | **Reclassification<br>to profit or loss** | **Reclassification<br>to profit or loss** | **Transfer**<br>**within equity** | **Transfer**<br>**within equity** | **Tax effect** | **Tax effect** | **Ending** | **Ending** |
|  Remeasurements of net defined benefit liabilities | W | (247241) | W | 38406 | W |  | W |  | W | (9791) | W | (218626) |
|  Currency translation differences |  | 809089 |  | (43718) |  | (5276) |  |  |  | 1632 |  | 761727 |
|  Gains (losses) on financial instruments at fair value through other comprehensive income |  | (1518990) |  | (2457981) |  | (88610) |  | (12265) |  | 680947 |  | (3396899) |
|  Share of other comprehensive income (loss) of associates and joint ventures |  | (3153) |  | 3408 |  |  |  |  |  | (1390) |  | (1135) |
|  Gains (losses) on cash flow hedging instruments |  | 108318 |  | (464646) |  | 169361 |  |  |  | 29455 |  | (157512) |
|  Gains (losses) on hedging instruments of net investments in foreign operations |  | (316109) |  | 46601 |  | 1546 |  |  |  | (8516) |  | (276478) |
|  Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk |  | (17314) |  | (4803) |  |  |  |  |  | 1581 |  | (20536) |
|  Finance gains or losses on insurance contract assets (liabilities) |  | 1682322 |  | 1634241 |  |  |  |  |  | (474560) |  | 2842003 |
|  | W | 496922 | W | (1248492) | W | 77021 | W | (12265) | W | 219358 | W | (467456) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**36. Accumulated Other Comprehensive Income (Loss) (cont'd)** 

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Changes except<br>for<br>reclassification** | **Changes except<br>for<br>reclassification** | **Reclassification<br>to profit or loss** | **Reclassification<br>to profit or loss** | **Transfer**<br>**within<br>equity** | **Transfer**<br>**within<br>equity** | **Tax effect** | **Tax effect** | **Ending** | **Ending** |
|  Remeasurements of net defined benefit liabilities | W | (161295) | W | (117022) | W |  | W |  | W | 31076 | W | (247241) |
|  Currency translation differences |  | 261752 |  | 560256 |  |  |  |  |  | (12919) |  | 809089 |
|  Gains (losses) on financial instruments at fair value through other comprehensive income |  | (2735499) |  | 1462875 |  | 171410 |  | 3649 |  | (421425) |  | (1518990) |
|  Share of other comprehensive income (loss) of associates and joint ventures |  | (3318) |  | 336 |  | (1) |  |  |  | (170) |  | (3153) |
|  Gains (losses) on cash flow hedging instruments |  | 73555 |  | 341856 |  | (294592) |  |  |  | (12501) |  | 108318 |
|  Gains (losses) on hedging instruments of net investments in foreign operations |  | (129401) |  | (253679) |  |  |  |  |  | 66971 |  | (316109) |
|  Fair value changes of financial liabilities designated at fair value through profit or loss due to own credit risk |  | (11800) |  | (7493) |  |  |  |  |  | 1979 |  | (17314) |
|  Finance gains or losses on insurance contract assets (liabilities) |  | 4858650 |  | (4315663) |  |  |  |  |  | 1139335 |  | 1682322 |
|  | W | 2152644 | W | (2328534) | W | (123183) | W | 3649 | W | 792346 | W | 496922 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**37. Earnings per Share** 

37.1 Basic Earnings per Share

Basic earnings per share is calculated by dividing profit attributable to ordinary equity holders of the Parent Company by the weighted average number of ordinary shares outstanding.

37.1.1 Weighted average number of ordinary shares outstanding

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In number of shares)* | **2025** | **2025** | **2024** | **2024** |
|  | **Number of**<br>**shares** | **Accumulated<br>number of shares** | **Number of**<br>**shares** | **Accumulated<br>number of shares** |
|  Number of issued ordinary shares | 381462103 | 140850554475 | 393528423 | 146287481492 |
|  Number of treasury shares \* | (22874381) | (7483617685) | (19927704) | (7659481944) |
|  Average number of ordinary shares outstanding | 358587722 | 133366936790 | 373600719 | 138627999548 |
|  Number of days |  | 365 |  | 366 |
|  Weighted average number of ordinary shares outstanding |  | 365388868 |  | 378765026 |

---

\* Treasury shares retired during the years ended December 31, 2025 and 2024 were deducted from May 15, 2025 and August 14, 2024, respectively.

37.1.2 Basic earnings per share

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In Korean won and in number of shares)* | **2025** | **2025** | **2024** | **2024** |
|  Profit attributable to shareholders of the Parent Company | W | 5833161872989 | W | 5078220543511 |
|  Deduction: Dividends on hybrid securities |  | (202391550000) |  | (199798800000) |
|  Profit attributable to ordinary equity holders of the Parent Company (A) |  | 5630770322989 |  | 4878421743511 |
|  Weighted average number of ordinary shares outstanding (B) |  | 365388868 |  | 378765026 |
|  Basic earnings per share (A/B) | W | 15410 | W | 12880 |

---

37.2 Diluted Earnings per Share

Diluted earnings per share is calculated through increasing the weighted average number of ordinary shares outstanding by the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. The Group has dilutive potential ordinary shares such as stock grants and ordinary share exchange right of exchangeable bonds.

A calculation is done to determine the number of shares that could have been acquired at fair value (determined as the average market share price for the year) based on the monetary value of stock grants. The number of shares calculated above is compared with the number of shares that would have been issued assuming the settlement of stock grants.

Exchangeable bonds are included in potential ordinary shares from the exercisable date of the exchange right, and interest expense after tax for the period is added to profit for diluted earnings per share.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

37.2.1 Adjusted profit for diluted earnings per share

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Profit attributable to ordinary equity holders of the Parent Company \* | W | 5630770322989 | W | 4878421743511 |
|  Adjustments: Interest expense on exchangeable bonds |  |  |  | 306631690 |
|  Adjusted profit for diluted earnings per share | W | 5630770322989 | W | 4878728375201 |

---

\* The amount is after deducting dividends on hybrid securities.

37.2.2 Weighted average number of ordinary shares outstanding for diluted earnings per share

---

| | | |
|:---|:---|:---|
| *(In number of shares)* | **2025** | **2024** |
|  Weighted average number of ordinary shares outstanding | 365388868 | 378765026 |
|  Adjustment: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock grants | 3583701 | 4001803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchangeable bonds |  | 601093 |
|  Adjusted weighted average number of ordinary shares outstanding for diluted earnings per share | 368972569 | 383367922 |

---

37.2.3 Diluted earnings per share

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In Korean won and in number of shares)* | **2025** | **2025** | **2024** | **2024** |
|  Adjusted profit for diluted earnings per share | W | 5630770322989 | W | 4878728375201 |
|  Adjusted weighted average number of ordinary shares outstanding for diluted earnings per share |  | 368972569 |  | 383367922 |
|  Diluted earnings per share | W | 15261 | W | 12726 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**38. Insurance Contracts** 

38.1 Details of insurance contract assets and insurance contract liabilities as of December 31, 2025 and December 31, 2024, are as follows:

*(In millions of Korean won)* 

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** |
|  | **Death** | **Death** | **Health** | **Health** | **Pension** | **Pension** | **Variables** | **Variables** | **Compound** | **Compound** | **Long-term** | **Long-term** | **General** | **General** | **Automobile** | **Automobile** | **Overseas** | **Overseas** |
|  Insurance contract assets | W |  | W |  | W |  | W |  | W |  | W | 259907 | W | 11245 | W |  | W |  |
|  Insurance contract liabilities |  | 15003063 |  | 559250 |  | 7744119 |  | 7238057 |  |  |  | 22447953 |  | 1506831 |  | 2155573 |  | 135184 |
|  **Net insurance contract liabilities** | W | 15003063 | W | 559250 | W | 7744119 | W | 7238057 | W |  | W | 22188046 | W | 1495586 | W | 2155573 | W | 135184 |
|  Reinsurance contract assets | W | 643 | W | 1230 | W |  | W |  | W | 6799 | W | 451419 | W | 953663 | W | 5777 | W | 96323 |
|  Reinsurance contract liabilities |  | 18064 |  | 16030 |  |  |  |  |  |  |  | 41 |  | 25513 |  |  |  |  |
|  **Net reinsurance contract assets (liabilities)** | W | (17421) | W | (14800) | W |  | W |  | W | 6799 | W | 451378 | W | 928150 | W | 5777 | W | 96323 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.1 Details of insurance contract assets and insurance contract liabilities as of December 31, 2025 and December 31, 2024, are as follows: (cont'd)

*(In millions of Korean won)* 

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** |
|  | **Death** | **Death** | **Health** | **Health** | **Pension** | **Pension** | **Variables** | **Variables** | **Compound** | **Compound** | **Long-term** | **Long-term** | **General** | **General** | **Automobile** | **Automobile** | **Overseas** | **Overseas** |
|  Insurance contract assets | W |  | W |  | W |  | W |  | W |  | W | 265762 | W | 10429 | W |  | W |  |
|  Insurance contract liabilities |  | 14687315 |  | 579725 |  | 7431564 |  | 6644117 |  |  |  | 22838534 |  | 1327191 |  | 2145366 |  | 209889 |
|  **Net insurance contract liabilities** | W | 14687315 | W | 579725 | W | 7431564 | W | 6644117 | W |  | W | 22572772 | W | 1316762 | W | 2145366 | W | 209889 |
|  Reinsurance contract assets | W | 81 | W |  | W |  | W |  | W | 2442 | W | 492051 | W | 831272 | W | 6953 | W | 164348 |
|  Reinsurance contract liabilities |  | 18022 |  | 16265 |  |  |  |  |  |  |  | 122 |  | 21857 |  |  |  |  |
|  **Net reinsurance contract assets (liabilities)** | W | (17941) | W | (16265) | W |  | W |  | W | 2442 | W | 491929 | W | 809415 | W | 6953 | W | 164348 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.2 Changes in insurance and reinsurance contract liabilities

38.2.1 Changes in insurance contract assets and insurance contract liabilities not applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Remaining Coverage |  |  | Total | Total |
|  | Other than Loss<br>Component | Other than Loss<br>Component | Loss<br>Component | Loss<br>Component | Liability for<br>Incurred Claims | Liability for<br>Incurred Claims | Total | Total |
|  Beginning | W | 49044234 | W | 690599 | W | 2180661 | W | 51915494 |
|  Insurance revenue |  | (7335372) |  |  |  |  |  | (7335372) |
|  Insurance service expenses |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance claims and expenses |  |  |  | (48207) |  | 5650101 |  | 5601894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of insurance acquisition cash flows |  | 392331 |  |  |  |  |  | 392331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  |  |  |  |  | (98288) |  | (98288) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on onerous contracts and reversals |  |  |  | 72401 |  |  |  | 72401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other insurance service expenses |  | (8525) |  |  |  |  |  | (8525) |
|  Insurance service result |  | (6951566) |  | 24194 |  | 5551813 |  | (1375559) |
|  Insurance finance income and expenses |  | 827970 |  | 16919 |  | 54987 |  | 899876 |
|  Investment components |  | (5246766) |  |  |  | 5246766 |  |  |
|  Cashflow |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premiums received |  | 14984482 |  |  |  |  |  | 14984482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance acquisition cash flows |  | (3114043) |  |  |  |  |  | (3114043) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incurred claims and expenses |  |  |  |  |  | (7504556) |  | (7504556) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other cashflow |  |  |  |  |  | (3073285) |  | (3073285) |
|  Total cashflow |  | 11870439 |  |  |  | (10577841) |  | 1292598 |
|  Other |  | 126 |  |  |  |  |  | 126 |
|  Ending | W | 49544437 | W | 731712 | W | 2456386 | W | 52732535 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.2.1 Changes in insurance contract assets and insurance contract liabilities not applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Remaining Coverage |  |  | **Total** | **Total** |
|  | Other than Loss<br>Component | Other than Loss<br>Component | Loss<br>Component | Loss<br>Component | Liability for<br>Incurred Claims | Liability for<br>Incurred Claims | **Total** | **Total** |
|  Beginning |  | W43,732,306 |  | W540,113 |  | W2,130,278 |  | W46,402,697 |
|  Insurance revenue |  | (6771649) |  |  |  |  |  | (6771649) |
|  Insurance service expenses |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance claims and expenses |  |  |  | (44783) |  | 4939938 |  | 4895155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of insurance acquisition cash flows |  | 294733 |  |  |  |  |  | 294733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  |  |  |  |  | (190946) |  | (190946) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on onerous contracts and reversals |  |  |  | 174282 |  |  |  | 174282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other insurance service expenses |  | 129 |  |  |  |  |  | 129 |
|  Insurance service result |  | (6476787) |  | 129499 |  | 4748992 |  | (1598296) |
|  Insurance finance income and expenses |  | 6091991 |  | 20987 |  | 54062 |  | 6167040 |
|  Investment components |  | (5265357) |  |  |  | 5265357 |  |  |
|  Cashflow |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premiums received |  | 13777045 |  |  |  |  |  | 13777045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance acquisition cash flows |  | (2815098) |  |  |  |  |  | (2815098) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incurred claims and expenses |  |  |  |  |  | (7017862) |  | (7017862) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other cashflow |  |  |  |  |  | (3000166) |  | (3000166) |
|  Total cashflow |  | 10961947 |  |  |  | (10018028) |  | 943919 |
|  Other |  | 134 |  |  |  |  |  | 134 |
|  Ending | W | 49044234 | W | 690599 | W | 2180661 | W | 51915494 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.2.2 Changes in insurance contract assets and insurance contract liabilities applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | Liability for Remaining<br>Coverage | Liability for Remaining<br>Coverage | Liability for Remaining<br>Coverage | Liability for Remaining<br>Coverage | Liability for Incurred Claims | Liability for Incurred Claims | Liability for Incurred Claims | Liability for Incurred Claims |  |  |
|  | Other than Loss<br>Component | Other than Loss<br>Component | Loss<br>Component | Loss<br>Component | Present value of<br>estimated future<br>cashflow | Present value of<br>estimated future<br>cashflow | Risk<br>adjustment<br>for<br>non-financial<br>risks | Risk<br>adjustment<br>for<br>non-financial<br>risks | Total | Total |
|  Beginning | W | 1947669 | W | 5780 | W | 1628256 | W | 90311 | W | 3672016 |
|  Insurance revenue |  | (4316509) |  |  |  |  |  |  |  | (4316509) |
|  Insurance service expenses |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance claims and expenses |  |  |  |  |  | 3630127 |  | 29868 |  | 3659995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of insurance acquisition cash flows |  | 475363 |  |  |  |  |  |  |  | 475363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  |  |  |  |  | 161237 |  | (52022) |  | 109215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on onerous contracts and reversals |  |  |  | 5904 |  |  |  |  |  | 5904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other insurance service expenses |  | 2909 |  |  |  |  |  |  |  | 2909 |
|  Insurance service result |  | (3838237) |  | 5904 |  | 3791364 |  | (22154) |  | (63123) |
|  Insurance finance income and expenses |  | (3666) |  |  |  | 23392 |  | 1880 |  | 21606 |
|  Investment components |  |  |  |  |  |  |  |  |  |  |
|  Cashflow |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premiums received |  | 4398915 |  |  |  |  |  |  |  | 4398915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance acquisition cash flows |  | (483180) |  |  |  |  |  |  |  | (483180) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incurred claims and expenses |  |  |  |  |  | (3763677) |  |  |  | (3763677) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other cashflow |  |  |  |  |  |  |  |  |  |  |
|  Total cashflow |  | 3915735 |  |  |  | (3763677) |  |  |  | 152058 |
|  Other |  | 8151 |  |  |  | (3997) |  | (368) |  | 3786 |
|  Ending | W | 2029652 | W | 11684 | W | 1675338 | W | 69669 | W | 3786343 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.2.2 Changes in insurance contract assets and insurance contract liabilities applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | Liability for Remaining<br>Coverage | Liability for Remaining<br>Coverage | Liability for Remaining<br>Coverage | Liability for Remaining<br>Coverage | Liability for Incurred Claims | Liability for Incurred Claims | Liability for Incurred Claims | Liability for Incurred Claims |  |  |
|  | Other than<br>Loss Component | Other than<br>Loss Component | Loss<br>Component | Loss<br>Component | Present value of<br>estimated<br>future cashflow | Present value of<br>estimated<br>future cashflow | Risk<br>adjustment for<br>non-financial<br>risks | Risk<br>adjustment for<br>non-financial<br>risks | Total | Total |
|  Beginning | W | 1933331 | W | 2107 | W | 1953780 | W | 96435 | W | 3985653 |
|  Insurance revenue |  | (4245506) |  |  |  |  |  |  |  | (4245506) |
|  Insurance service expenses |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance claims and expenses |  |  |  |  |  | 3370974 |  | 32254 |  | 3403228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of insurance acquisition cash flows |  | 468844 |  |  |  |  |  |  |  | 468844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  |  |  |  |  | (123122) |  | (45089) |  | (168211) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on onerous contracts and reversals |  |  |  | 3673 |  |  |  |  |  | 3673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other insurance service expenses |  | 3281 |  |  |  |  |  |  |  | 3281 |
|  Insurance service result |  | (3773381) |  | 3673 |  | 3247852 |  | (12835) |  | (534691) |
|  Insurance finance income and expenses |  | 13011 |  |  |  | 48140 |  | 4948 |  | 66099 |
|  Investment components |  | (15439) |  |  |  | 15439 |  |  |  |  |
|  Cashflow |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premiums received |  | 4255795 |  |  |  |  |  |  |  | 4255795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance acquisition cash flows |  | (478578) |  |  |  |  |  |  |  | (478578) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incurred claims and expenses |  |  |  |  |  | (3659534) |  |  |  | (3659534) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other cashflow |  |  |  |  |  |  |  |  |  |  |
|  Total cashflow |  | 3777217 |  |  |  | (3659534) |  |  |  | 117683 |
|  Other |  | 12930 |  |  |  | 22579 |  | 1763 |  | 37272 |
|  Ending | W | 1947669 | W | 5780 | W | 1628256 | W | 90311 | W | 3672016 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.2.3 Changes in reinsurance contract assets and reinsurance contract liabilities not applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Remaining Coverage |  |  | Total | Total |
|  | Other than Loss<br>Recovery<br>Component | Other than Loss<br>Recovery<br>Component | Loss Component | Loss Component | Liability for<br>Incurred Claims | Liability for<br>Incurred Claims | Total | Total |
|  Beginning | W | (12815) | W | 95276 | W | 375578 | W | 458039 |
|  Allocation of Reinsurance Premiums |  | (198328) |  |  |  |  |  | (198328) |
|  Reinsurance Recoverables |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance claims and expenses |  |  |  | (2674) |  | 180396 |  | 177722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  |  |  |  |  | 2608 |  | 2608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery from loss recovery component and reversals |  |  |  | (7327) |  |  |  | (7327) |
|  Reinsurance service result |  | (198328) |  | (10001) |  | 183004 |  | (25325) |
|  Reinsurance finance income and expenses |  | 7635 |  | 2813 |  | 4961 |  | 15409 |
|  Effect of changes in exchange rate |  | 6 |  | (3) |  |  |  | 3 |
|  Effect of changes in credit default risk of reinsurer |  | 1390 |  |  |  | (81) |  | 1309 |
|  Total reinsurance finance income and expenses |  | 9031 |  | 2810 |  | 4880 |  | 16721 |
|  Investment components |  | (510250) |  |  |  | 510250 |  |  |
|  Cashflow |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Premiums Paid |  | 569824 |  |  |  |  |  | 569824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts recovered from reinsurer |  |  |  |  |  | (594498) |  | (594498) |
|  Total cashflow |  | 569824 |  |  |  | (594498) |  | (24674) |
|  Other |  |  |  |  |  |  |  |  |
|  Ending | W | (142538) | W | 88085 | W | 479214 | W | 424761 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.2.3 Changes in reinsurance contract assets and reinsurance contract liabilities not applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Remaining Coverage |  |  | Total | Total |
|  | Other than Loss<br>Recovery<br>Component | Other than Loss<br>Recovery<br>Component | Loss Component | Loss Component | Liability for<br>Incurred Claims | Liability for<br>Incurred Claims | Total | Total |
|  Beginning | W | (52816) | W | 73821 | W | 392106 | W | 413111 |
|  Allocation of Reinsurance Premiums |  | (218453) |  |  |  |  |  | (218453) |
|  Reinsurance Recoverables |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance claims and expenses |  |  |  | (2511) |  | 194879 |  | 192368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  |  |  |  |  | (16953) |  | (16953) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery from loss recovery component and reversals |  |  |  | 21764 |  |  |  | 21764 |
|  Reinsurance service result |  | (218453) |  | 19253 |  | 177926 |  | (21274) |
|  Reinsurance finance income and expenses |  | 27452 |  | 2185 |  | 4162 |  | 33799 |
|  Effect of changes in exchange rate |  | (111) |  | 17 |  |  |  | (94) |
|  Effect of changes in credit default risk of reinsurer |  | 141 |  |  |  | 9 |  | 150 |
|  Total reinsurance finance income and expenses |  | 27482 |  | 2202 |  | 4171 |  | 33855 |
|  Investment components |  | (435632) |  |  |  | 435632 |  |  |
|  Cashflow |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Premiums Paid |  | 666604 |  |  |  |  |  | 666604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts recovered from reinsurer |  |  |  |  |  | (634257) |  | (634257) |
|  Total cashflow |  | 666604 |  |  |  | (634257) |  | 32347 |
|  Other |  |  |  |  |  |  |  |  |
|  Ending | W | (12815) | W | 95276 | W | 375578 | W | 458039 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.2.4 Changes in reinsurance contract assets and reinsurance contract liabilities applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | Liability for Remaining<br>Coverage | Liability for Remaining<br>Coverage | Liability for Remaining<br>Coverage | Liability for Remaining<br>Coverage | Liability for Incurred Claims | Liability for Incurred Claims | Liability for Incurred Claims | Liability for Incurred Claims |  |  |
|  | Other than Loss<br>Recovery<br>Component | Other than Loss<br>Recovery<br>Component | Loss<br>Component | Loss<br>Component | Present value<br>of estimated<br>future cashflow | Present value<br>of estimated<br>future cashflow | Risk<br>adjustment for<br>non-financial<br>risks | Risk<br>adjustment for<br>non-financial<br>risks | Total | Total |
|  Beginning | W | 89448 | W | 954 | W | 856120 | W | 36320 | W | 982842 |
|  Reinsurance service expenses |  | (661646) |  |  |  |  |  |  |  | (661646) |
|  Reinsurance service income |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance claims and expenses |  | 2446 |  |  |  | 437300 |  | 4604 |  | 444350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  |  |  |  |  | 125741 |  | (18866) |  | 106875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery from loss recovery component and reversals |  |  |  | 437 |  |  |  |  |  | 437 |
|  Reinsurance service result |  | (659200) |  | 437 |  | 563041 |  | (14262) |  | (109984) |
|  Reinsurance finance income and expenses |  | 3479 |  |  |  | 46073 |  | 835 |  | 50387 |
|  Effect of changes in exchange rate |  | (2609) |  |  |  | (2942) |  | (5) |  | (5556) |
|  Effect of changes in credit default risk of reinsurer |  | (10) |  |  |  | 179 |  |  |  | 169 |
|  Total reinsurance finance income and expenses |  | 860 |  |  |  | 43310 |  | 830 |  | 45000 |
|  Investment components |  | (5675) |  |  |  | 5675 |  |  |  |  |
|  Cashflow |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Premiums Paid |  | 673892 |  |  |  |  |  |  |  | 673892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts recovered from reinsurer |  |  |  |  |  | (553828) |  |  |  | (553828) |
|  Total cashflow |  | 673892 |  |  |  | (553828) |  |  |  | 120064 |
|  Other |  | (4783) |  |  |  | (1495) |  | (199) |  | (6477) |
|  Ending | W | 94542 | W | 1391 | W | 912823 | W | 22689 | W | 1031445 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.2.4 Changes in reinsurance contract assets and reinsurance contract liabilities applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Remaining Coverage | Liability for Incurred Claims | Liability for Incurred Claims | Liability for Incurred Claims | Liability for Incurred Claims |  |  |
|  | Other than Loss<br>Recovery<br>Component | Other than Loss<br>Recovery<br>Component | Loss<br>Component | Loss<br>Component | Present value<br>of estimated<br>future cashflow | Present value<br>of estimated<br>future cashflow | Risk<br>adjustment for<br>non-financial<br>risks | Risk<br>adjustment for<br>non-financial<br>risks | Total | Total |
|  Beginning | W | 112534 | W | 380 | W | 1033601 | W | 46776 | W | 1193291 |
|  Reinsurance service expenses |  | (703809) |  |  |  |  |  |  |  | (703809) |
|  Reinsurance service income |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance claims and expenses |  | 2816 |  |  |  | 329207 |  | 8854 |  | 340877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  |  |  |  |  | (76406) |  | (23188) |  | (99594) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery from loss recovery component and reversals |  |  |  | 574 |  |  |  |  |  | 574 |
|  Reinsurance service result |  | (700993) |  | 574 |  | 252801 |  | (14334) |  | (461952) |
|  Reinsurance finance income and expenses |  | 425 |  |  |  | (78147) |  | 3108 |  | (74614) |
|  Effect of changes in exchange rate |  | 8161 |  |  |  | 41005 |  | 20 |  | 49186 |
|  Effect of changes in credit default risk of reinsurer |  | 18 |  |  |  | 24009 |  |  |  | 24027 |
|  Total reinsurance finance income and expenses |  | 8604 |  |  |  | (13133) |  | 3128 |  | (1401) |
|  Investment components |  | (16003) |  |  |  | 16003 |  |  |  |  |
|  Cashflow |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Premiums Paid |  | 678583 |  |  |  |  |  |  |  | 678583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts recovered from reinsurer |  |  |  |  |  | (441280) |  |  |  | (441280) |
|  Total cashflow |  | 678583 |  |  |  | (441280) |  |  |  | 237303 |
|  Other |  | 6723 |  |  |  | 8128 |  | 750 |  | 15601 |
|  Ending | W | 89448 | W | 954 | W | 856120 | W | 36320 | W | 982842 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.3 Changes in components of insurance and reinsurance Liability

38.3.1 Changes in components of insurance contract assets and insurance contract liabilities not applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | Present value of<br>estimated future<br>cashflow | Present value of<br>estimated future<br>cashflow | Risk adjustment<br>for non-financial<br>risks | Risk adjustment<br>for non-financial<br>risks | Contractual<br>service margin | Contractual<br>service margin | Total | Total |
|  Beginning | W | 35983619 | W | 1967897 | W | 13963978 | W | 51915494 |
|  Future service related changes: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in estimations adjusting contractual service margin |  | 776054 |  | (26521) |  | (749533) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on onerous contracts and reversals |  | 23029 |  | 1875 |  |  |  | 24904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of new contracts |  | (2514719) |  | 315632 |  | 2246585 |  | 47498 |
|  Current period service related changes: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contractual service margin recognized in profit or loss for the services provided |  |  |  |  |  | (1305006) |  | (1305006) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in risk adjustment due to release of risk |  |  |  | (212266) |  |  |  | (212266) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Experience adjustment |  | 167599 |  |  |  |  |  | 167599 |
|  Past period service related changes: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  | (72190) |  | (26098) |  |  |  | (98288) |
|  Insurance service result |  | (1620227) |  | 52622 |  | 192046 |  | (1375559) |
|  Insurance finance income and expenses |  | 421690 |  | 18280 |  | 459906 |  | 899876 |
|  Cashflow for the period: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premiums received |  | 14984482 |  |  |  |  |  | 14984482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance acquisition cash flows |  | (3114043) |  |  |  |  |  | (3114043) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incurred claims and expenses |  | (7504556) |  |  |  |  |  | (7504556) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other cashflow |  | (3073285) |  |  |  |  |  | (3073285) |
|  Total cashflow |  | 1292598 |  |  |  |  |  | 1292598 |
|  Other |  | 126 |  |  |  |  |  | 126 |
|  Ending | W | 36077806 | W | 2038799 | W | 14615930 | W | 52732535 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.3.1 Changes in components of insurance contract assets and insurance contract liabilities not applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | Present value of<br>estimated future<br>cashflow | Present value of<br>estimated future<br>cashflow | Risk adjustment<br>for non-financial<br>risks | Risk adjustment<br>for non-financial<br>risks | Contractual<br>service margin | Contractual<br>service margin | Total | Total |
|  Beginning | W | 30870548 | W | 1673727 | W | 13858422 | W | 46402697 |
|  Future service related changes: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in estimations adjusting contractual service margin |  | 1506457 |  | 31292 |  | (1537734) |  | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on onerous contracts and reversals |  | 87131 |  | 13314 |  |  |  | 100445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of new contracts |  | (2682862) |  | 323077 |  | 2433624 |  | 73839 |
|  Current period service related changes: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contractual service margin recognized in profit or loss for the services provided |  |  |  |  |  | (1279258) |  | (1279258) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in risk adjustment due to release of risk |  |  |  | (187399) |  |  |  | (187399) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Experience adjustment |  | (114992) |  |  |  |  |  | (114992) |
|  Past period service related changes: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  | (161135) |  | (29811) |  |  |  | (190946) |
|  Insurance service result |  | (1365401) |  | 150473 |  | (383368) |  | (1598296) |
|  Insurance finance income and expenses |  | 5534419 |  | 143697 |  | 488924 |  | 6167040 |
|  Cashflow for the period: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premiums received |  | 13777045 |  |  |  |  |  | 13777045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance acquisition cash flows |  | (2815098) |  |  |  |  |  | (2815098) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incurred claims and expenses |  | (7017862) |  |  |  |  |  | (7017862) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other cashflow |  | (3000166) |  |  |  |  |  | (3000166) |
|  Total cashflow |  | 943919 |  |  |  |  |  | 943919 |
|  Other |  | 134 |  |  |  |  |  | 134 |
|  Ending | W | 35983619 | W | 1967897 | W | 13963978 | W | 51915494 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.3.2 Changes in components of reinsurance contract assets and reinsurance contract liabilities not applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | Present value of<br>estimated future<br>cashflow | Present value of<br>estimated future<br>cashflow | Risk adjustment<br>for non-financial<br>risks | Risk adjustment<br>for non-financial<br>risks | Contractual<br>service margin | Contractual<br>service margin | Total | Total |
|  Beginning | W | 377315 | W | 76382 | W | 4342 | W | 458039 |
|  Future service related changes |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in estimations adjusting contractual service margin |  | (114760) |  | (5557) |  | 120317 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on onerous contracts and reversals |  | (5191) |  | (2137) |  |  |  | (7328) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of new contracts |  | (3262) |  | 1446 |  | 1817 |  | 1 |
|  Current period service related changes |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contractual service margin recognized in profit or loss for the services provided |  |  |  |  |  | (9241) |  | (9241) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in risk adjustment due to release of risk |  |  |  | (5968) |  |  |  | (5968) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Experience adjustment |  | (5397) |  |  |  |  |  | (5397) |
|  Past period service related changes |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  | 5415 |  | (2807) |  |  |  | 2608 |
|  Reinsurance service result |  | (123195) |  | (15023) |  | 112893 |  | (25325) |
|  Reinsurance finance income and expenses |  | 13791 |  | (705) |  | 2323 |  | 15409 |
|  Effect of changes in exchange rate |  | 11 |  | (1) |  | (7) |  | 3 |
|  Effect of changes in credit default risk of reinsurer |  | 1309 |  |  |  |  |  | 1309 |
|  Total reinsurance finance income and expenses |  | 15111 |  | (706) |  | 2316 |  | 16721 |
|  Cashflow for the period |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Premiums Paid |  | 569824 |  |  |  |  |  | 569824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts recovered from reinsurer |  | (594498) |  |  |  |  |  | (594498) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other cashflow |  |  |  |  |  |  |  |  |
|  Total cashflow |  | (24674) |  |  |  |  |  | (24674) |
|  Other |  |  |  |  |  |  |  |  |
|  Ending | W | 244557 | W | 60653 | W | 119551 | W | 424761 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.3.2 Changes in components of reinsurance contract assets and reinsurance contract liabilities not applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | Present value of<br>estimated future<br>cashflow | Present value of<br>estimated future<br>cashflow | Risk adjustment<br>for non-financial<br>risks | Risk adjustment<br>for non-financial<br>risks | Contractual<br>service margin | Contractual<br>service margin | Total | Total |
|  Beginning | W | 335494 | W | 73397 | W | 4220 | W | 413111 |
|  Future service related changes |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in estimations adjusting contractual service margin |  | (8865) |  | (15731) |  | 24596 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on onerous contracts and reversals |  | 16719 |  | 5663 |  |  |  | 22382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of new contracts |  | 10913 |  | 14625 |  | (25525) |  | 13 |
|  Current period service related changes |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contractual service margin recognized in profit or loss for the services provided |  |  |  |  |  | 291 |  | 291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in risk adjustment due to release of risk |  |  |  | (6850) |  |  |  | (6850) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Experience adjustment |  | (20157) |  |  |  |  |  | (20157) |
|  Past period service related changes |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  | (14070) |  | (2883) |  |  |  | (16953) |
|  Reinsurance service result |  | (15460) |  | (5176) |  | (638) |  | (21274) |
|  Reinsurance finance income and expenses |  | 24832 |  | 8152 |  | 815 |  | 33799 |
|  Effect of changes in exchange rate |  | (48) |  | 9 |  | (55) |  | (94) |
|  Effect of changes in credit default risk of reinsurer |  | 150 |  |  |  |  |  | 150 |
|  Total reinsurance finance income and expenses |  | 24934 |  | 8161 |  | 760 |  | 33855 |
|  Cashflow for the period |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Premiums Paid |  | 666604 |  |  |  |  |  | 666604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amounts recovered from reinsurer |  | (634257) |  |  |  |  |  | (634257) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other cashflow |  |  |  |  |  |  |  |  |
|  Total cashflow |  | 32347 |  |  |  |  |  | 32347 |
|  Other |  |  |  |  |  |  |  |  |
|  Ending | W | 377315 | W | 76382 | W | 4342 | W | 458039 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.4 Details of insurance service results for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Total** | **Total** |
|  | **Death** | **Death** | **Health** | **Health** | **Pension** | **Pension** | **Variables** | **Variables** | **Compound** | **Long-term** | **Long-term** | **General** | **General** | **Automobile** | **Automobile** | **Overseas** | **Overseas** | **Total** | **Total** |
|  **Insurance revenue:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Insurance contracts not applying the premium allocation approach: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected insurance claims and expenses | W | 263319 | W | 37554 | W | 55355 | W | 84758 | W | W | 4992525 | W |  | W |  | W |  | W | 5433511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in risk adjustment due to release of risk |  | 17228 |  | 3087 |  | 9030 |  | 6213 |  |  | 205030 |  |  |  |  |  |  |  | 240588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contractual service margin recognized in profit or loss for the services provided |  | 266560 |  | 19013 |  | 59199 |  | 106798 |  |  | 853436 |  |  |  |  |  |  |  | 1305006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Experience adjustments on premium related to current and past services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery of insurance acquisition cash flows |  | 33686 |  | 4773 |  | 34412 |  | 11326 |  |  | 273822 |  |  |  |  |  |  |  | 358019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other insurance revenues |  | (489) |  | (396) |  | (306) |  | (562) |  |  |  |  |  |  |  |  |  |  | (1753) |
|  Insurance revenue for insurance contracts not applying the premium allocation approach |  | 580304 |  | 64031 |  | 157690 |  | 208533 |  |  | 6324813 |  |  |  |  |  |  |  | 7335371 |
|  Insurance revenue for insurance contracts applying the premium allocation approach |  |  |  |  |  |  |  |  |  |  |  |  | 1419000 |  | 2834504 |  | 63006 |  | 4316510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total insurance revenue** | W | 580304 | W | 64031 | W | 157690 | W | 208533 | W | W | 6324813 | W | 1419000 | W | 2834504 | W | 63006 | W | 11651881 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.4 Details of insurance service results for the year ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Total** | **Total** |
|  | **Death** | **Death** | **Health** | **Health** | **Pension** | **Pension** | **Variables** | **Variables** | **Compound** | **Compound** | **Long-term** | **Long-term** | **General** | **General** | **Automobile** | **Automobile** | **Overseas** | **Overseas** | **Total** | **Total** |
|  **Insurance service expenses:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incurred claims and expenses | W | (229359) | W | (54703) | W | (48641) | W | (84454) | W |  | W | (5186489) | W | (1001479) | W | (2634445) | W | (26981) | W | (9266551) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of insurance acquisition cash flows |  | (33686) |  | (4773) |  | (34412) |  | (11326) |  |  |  | (308134) |  | (161239) |  | (311288) |  | (2836) |  | (867694) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  | 10534 |  | (87) |  | (855) |  | 1034 |  |  |  | 87661 |  | (133728) |  | 24514 |  |  |  | (10927) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on onerous contracts and reversals |  | (12666) |  | (688) |  | (30812) |  | 21785 |  |  |  | (48267) |  | (5904) |  |  |  |  |  | (76552) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other insurance service expenses |  | (355) |  | 2541 |  | 9290 |  | (2951) |  |  |  |  |  |  |  |  |  |  |  | 8525 |
|  Insurance service expenses for insurance contracts not applying the premium allocation approach |  | (265532) |  | (57710) |  | (105430) |  | (75912) |  |  |  | (5455229) |  |  |  |  |  |  |  | (5959813) |
|  Insurance service expenses for insurance contracts applying the premium allocation approach |  |  |  |  |  |  |  |  |  |  |  |  |  | (1302350) |  | (2921219) |  | (29817) |  | (4253386) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total insurance service expenses** | W | (265532) | W | (57710) | W | (105430) | W | (75912) | W |  | W | (5455229) | W | (1302350) | W | (2921219) | W | (29817) | W | (10213199) |
|  **Reinsurance income:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery of incurred reinsurance claims and expenses | W | 871 | W | 2535 | W |  | W |  | W | 2679 | W | 172686 | W | 409737 | W | 944 | W | 32701 | W | 622153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  | 2247 |  | 266 |  |  |  |  |  | (664) |  | 1228 |  | 106485 |  | (79) |  |  |  | 109483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recognition and reversal of loss-recovery component |  | 185 |  | 214 |  |  |  |  |  | 109 |  | (7916) |  | 437 |  |  |  |  |  | (6971) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other reinsurance income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Reinsurance income for reinsurance contracts not applying the premium allocation approach |  | 3303 |  | 3015 |  |  |  |  |  | 2124 |  | 164562 |  |  |  |  |  |  |  | 173004 |
|  Reinsurance income for reinsurance contracts applying the premium allocation approach |  |  |  |  |  |  |  |  |  |  |  | 1436 |  | 516659 |  | 865 |  | 32701 |  | 551661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total reinsurance income** | W | 3303 | W | 3015 | W |  | W |  | W | 2124 | W | 165998 | W | 516659 | W | 865 | W | 32701 | W | 724665 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.4 Details of insurance service results for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Total** | **Total** |
|  | **Death** | **Death** | **Health** | **Health** | **Pension** | **Pension** | **Variables** | **Variables** | **Compound** | **Compound** | **Long-term** | **Long-term** | **General** | **General** | **Automobile** | **Automobile** | **Overseas** | **Overseas** | **Total** | **Total** |
|  **Reinsurance expense:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Reinsurance contracts not applying the premium allocation approach: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected recovery of incurred claims and expenses | W | (1569) | W | (2050) | W |  | W |  | W | (2329) | W | (159641) | W |  | W |  | W |  | W | (165589) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in risk adjustment due to release of risk |  | (212) |  | (160) |  |  |  |  |  | (162) |  | (8336) |  |  |  |  |  |  |  | (8870) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contractual service margin recognized in profit or loss for the services received |  | (1782) |  | (725) |  |  |  |  |  | (2077) |  | (4657) |  |  |  |  |  |  |  | (9241) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Experience adjustments on reinsurance premium related to current and past services |  | (273) |  | 1316 |  |  |  |  |  | 1069 |  | (16823) |  |  |  |  |  |  |  | (14711) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other reinsurance expenses |  | 41 |  | 19 |  |  |  |  |  | 23 |  |  |  |  |  |  |  |  |  | 83 |
|  |  | (3795) |  | (1600) |  |  |  |  |  | (3476) |  | (189457) |  |  |  |  |  |  |  | (198328) |
|  Reinsurance expenses for reinsurance contracts applying the premium allocation approach |  |  |  |  |  |  |  |  |  |  |  | (1594) |  | (577986) |  | (6732) |  | (75334) |  | (661646) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total reinsurance expense** |  | (3795) |  | (1600) |  |  |  |  |  | (3476) |  | (191051) |  | (577986) |  | (6732) |  | (75334) |  | (859974) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total insurance service result** | W | 314280 | W | 7736 | W | 52260 | W | 132621 | W | (1352) | W | 844531 | W | 55323 | W | (92582) | W | (9444) | W | 1303373 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.4 Details of insurance service results for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Total** | **Total** |
|  | **Death** | **Death** | **Health** | **Health** | **Pension** | **Pension** | **Variables** | **Variables** | **Compound** | **Long-term** | **Long-term** | **General** | **General** | **Automobile** | **Automobile** |  |  | **Overseas** | **Overseas** |
|  **Insurance revenue:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Insurance contracts not applying the premium allocation approach: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected insurance claims and expenses | W | 265682 | W | 35551 | W | 46448 | W | 90456 | W | W | 4565702 | W |  | W |  | W |  | W | 5003839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in risk adjustment due to release of risk |  | 17924 |  | 2715 |  | 7207 |  | 5795 |  |  | 179271 |  |  |  |  |  |  |  | 212912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contractual service margin recognized in profit or loss for the services provided |  | 268784 |  | 17205 |  | 54498 |  | 101106 |  |  | 837664 |  |  |  |  |  |  |  | 1279257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Experience adjustments on premium related to current and past services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery of insurance acquisition cash flows |  | 29544 |  | 3495 |  | 19204 |  | 10855 |  |  | 217639 |  |  |  |  |  |  |  | 280737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other insurance revenues |  | (2936) |  | (713) |  | (896) |  | (551) |  |  |  |  |  |  |  |  |  |  | (5096) |
|  Insurance revenue for insurance contracts not applying the premium allocation approach |  | 578998 |  | 58253 |  | 126461 |  | 207661 |  |  | 5800276 |  |  |  |  |  |  |  | 6771649 |
|  Insurance revenue for insurance contracts applying the premium allocation approach |  |  |  |  |  |  |  |  |  |  |  |  | 1362030 |  | 2820406 |  | 63070 |  | 4245506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total insurance revenue** | W | 578998 | W | 58253 | W | 126461 | W | 207661 | W | W | 5800276 | W | 1362030 | W | 2820406 | W | 63070 | W | 11017155 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.4 Details of insurance service results for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Total** | **Total** |
|  | **Death** | **Death** | **Health** | **Health** | **Pension** | **Pension** | **Variables** | **Variables** | **Compound** | **Compound** | **Long-term** | **Long-term** | **General** | **General** | **Automobile** | **Automobile** |  |  | **Overseas** | **Overseas** |
|  **Insurance service expenses:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incurred claims and expenses | W | (219260) | W | (36144) | W | (36385) | W | (89201) | W |  | W | (4519263) | W | (850413) | W | (2537651) | W | (18445) | W | (8306762) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of insurance acquisition cash flows |  | (29544) |  | (3495) |  | (19204) |  | (10855) |  |  |  | (231635) |  | (146582) |  | (318873) |  | (3389) |  | (763577) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  | 802 |  | 1370 |  | (1648) |  | (133) |  |  |  | 190555 |  | 103682 |  | 64529 |  |  |  | 359157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on onerous contracts and reversals |  | (473) |  | 10935 |  | (4242) |  | (7481) |  |  |  | (167924) |  | (3673) |  |  |  |  |  | (172858) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other insurance service expenses |  | 1766 |  | 1634 |  | (1464) |  | (2064) |  |  |  |  |  |  |  |  |  |  |  | (128) |
|  Insurance service expenses for insurance contracts not applying the premium allocation approach |  | (246709) |  | (25700) |  | (62943) |  | (109734) |  |  |  | (4728267) |  |  |  |  |  |  |  | (5173353) |
|  Insurance service expenses for insurance contracts applying the premium allocation approach |  |  |  |  |  |  |  |  |  |  |  |  |  | (896986) |  | (2791995) |  | (21834) |  | (3710815) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total insurance service expenses** | W | (246709) | W | (25700) | W | (62943) | W | (109734) | W |  | W | (4728267) | W | (896986) | W | (2791995) | W | (21834) | W | (8884168) |
|  **Reinsurance income:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery of incurred reinsurance claims and expenses | W | 8886 | W | 12465 | W |  | W |  | W | 13569 | W | 162127 | W | 291179 | W | 201 | W | 44816 | W | 533243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in fulfilment cash flows relating to incurred claims |  | 1044 |  | 884 |  |  |  |  |  | 2017 |  | (25781) |  | (94031) |  | (679) |  |  |  | (116546) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recognition and reversal of loss-recovery component |  | 162 |  | (120) |  |  |  |  |  | (2042) |  | 23765 |  | 574 |  |  |  |  |  | 22339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other reinsurance income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Reinsurance income for reinsurance contracts not applying the premium allocation approach |  | 10092 |  | 13229 |  |  |  |  |  | 13544 |  | 160316 |  |  |  |  |  |  |  | 197181 |
|  Reinsurance income for reinsurance contracts applying the premium allocation approach |  |  |  |  |  |  |  |  |  |  |  | (205) |  | 197722 |  | (478) |  | 44816 |  | 241855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total reinsurance income** | W | 10092 | W | 13229 | W |  | W |  | W | 13544 | W | 160111 | W | 197722 | W | (478) | W | 44816 | W | 439036 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.4 Details of insurance service results for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Total** | **Total** |
|  | **Death** | **Death** | **Health** | **Health** | **Pension** | **Pension** | **Variables** | **Variables** | **Compound** | **Compound** | **Long-term** | **Long-term** | **General** | **General** | **Automobile** | **Automobile** | **Overseas** | **Overseas** | **Total** | **Total** |
|  **Reinsurance expense:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Reinsurance contracts not applying the premium allocation approach: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected recovery of incurred claims and expenses | W | (9577) | W | (10893) | W |  | W |  | W | (11195) | W | (188354) | W |  | W |  | W |  | W | (220019) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in risk adjustment due to release of risk |  | (169) |  | (86) |  |  |  |  |  | (37) |  | (9232) |  |  |  |  |  |  |  | (9524) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contractual service margin recognized in profit or loss for the services received |  | (1640) |  | 121 |  |  |  |  |  | (403) |  | 2211 |  |  |  |  |  |  |  | 289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Experience adjustments on reinsurance premium related to current and past services |  |  |  |  |  |  |  |  |  |  |  | 16785 |  |  |  |  |  |  |  | 16785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other reinsurance expenses |  | 507 |  | (1471) |  |  |  |  |  | (5021) |  |  |  |  |  |  |  |  |  | (5985) |
|  |  | (10879) |  | (12329) |  |  |  |  |  | (16656) |  | (178590) |  |  |  |  |  |  |  | (218454) |
|  Reinsurance expenses for reinsurance contracts applying the premium allocation approach |  |  |  |  |  |  |  |  |  |  |  | (1625) |  | (605882) |  | (7206) |  | (89095) |  | (703808) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total reinsurance expense** |  | (10879) |  | (12329) |  |  |  |  |  | (16656) |  | (180215) |  | (605882) |  | (7206) |  | (89095) |  | (922262) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total insurance service result** | W | 331502 | W | 33453 | W | 63518 | W | 97927 | W | (3112) | W | 1051905 | W | 56884 | W | 20727 | W | (3043) | W | 1649761 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.5 The effect of new insurance contracts not applying the premium allocation approach for the years ended December 31, 2025 and 2024, are as follows:

38.5.1 Insurance contract

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | Issued contract | Issued contract | Issued contract | Issued contract | Total | Total |
|  | Other than onerous<br>contract | Other than onerous<br>contract | Onerous<br>contract | Onerous<br>contract | Total | Total |
|  Estimated Present Value of Future Cash Outflows | W | 16730970 | W | 1442034 | W | 18173004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance Acquisition Cash Flow |  | 2913901 |  | 176438 |  | 3090339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance Claims and Service Expenses |  | 13817069 |  | 1265596 |  | 15082665 |
|  Estimated Present Value of Future Cash Inflows |  | (19280168) |  | (1407555) |  | (20687723) |
|  Risk Adjustment for Non-Financial Risks |  | 302613 |  | 13019 |  | 315632 |
|  Contractual service margin |  | 2246585 |  |  |  | 2246585 |
|  Effect on financial statements of initial recognition of contracts | W |  | W | 47498 | W | 47498 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | Issued contract | Issued contract | Issued contract | Issued contract | Total | Total |
|  | Other than onerous<br>contract | Other than onerous<br>contract | Onerous contract | Onerous contract | Total | Total |
|  Estimated Present Value of Future Cash Outflows | W | 15805702 | W | &nbsp;&nbsp;&nbsp;&nbsp;1196403 | W | 17002105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance Acquisition Cash Flow |  | 2900605 |  | 160020 |  | 3060625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance Claims and Service Expenses |  | 12905097 |  | 1036383 |  | 13941480 |
|  Estimated Present Value of Future Cash Inflows |  | (18547325) |  | (1137642) |  | (19684967) |
|  Risk Adjustment for Non-Financial Risks |  | 307999 |  | 15078 |  | 323077 |
|  Contractual service margin |  | 2433624 |  |  |  | 2433624 |
|  Effect on financial statements of initial recognition of contracts | W |  | W | 73839 | W | 73839 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.5.2 Reinsurance contract

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | Purchased contract | Purchased contract | Purchased contract | Purchased contract | Total | Total |
|  | Net cost contract | Net cost contract | Net gain contract | Net gain contract | Total | Total |
|  Estimated Present Value of Future Cash Inflows | W | 84259 | W | 160674 | W | &nbsp;&nbsp;&nbsp;&nbsp;244933 |
|  Estimated Present Value of Future Cash Outflows |  | (89008) |  | (159187) |  | (248195) |
|  Risk Adjustment for Non-Financial Risks |  | 1031 |  | 415 |  | 1446 |
|  Contractual service margin |  | 3719 |  | (1902) |  | 1817 |
|  Effect on financial statements of initial recognition of contracts | W | 1 | W |  | W | 1 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | Purchased contract | Purchased contract | Purchased contract | Purchased contract | Total | Total |
|  | Net cost contract | Net cost contract | Net gain contract | Net gain contract | Total | Total |
|  Estimated Present Value of Future Cash Inflows | W | 72931 | W | 977258 | W | &nbsp;&nbsp;&nbsp;&nbsp;1050189 |
|  Estimated Present Value of Future Cash Outflows |  | (76259) |  | (963017) |  | (1039276) |
|  Risk Adjustment for Non-Financial Risks |  | 831 |  | 13794 |  | 14625 |
|  Contractual service margin |  | 2510 |  | (28035) |  | (25525) |
|  Effect on financial statements of initial recognition of contracts | W | 13 | W |  | W | 13 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.6 The annual expected amortization schedule of contractual service margin of insurance contracts and reinsurance contracts not applying the premium allocation approach as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | Less than a<br>year | Less than a<br>year | 1 ~ 2 years | 1 ~ 2 years | 2 ~ 3 years | 2 ~ 3 years | 3 ~ 4 years | 3 ~ 4 years | 4 ~ 5 years | 4 ~ 5 years | 5 ~ 10 years | 5 ~ 10 years | 10 ~ 20 years | 10 ~ 20 years | 20 ~ 30 years | 20 ~ 30 years | Over 30 years | Over 30 years |
|  Insurance contract issued |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Life insurance Death | W | 158730 | W | 149105 | W | 139319 | W | 130427 | W | 122533 | W | 540433 | W | 798331 | W | 585870 | W | 554980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health |  | 14201 |  | 12880 |  | 11685 |  | 10718 |  | 9943 |  | 41004 |  | 51708 |  | 33447 |  | 52926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension |  | 33175 |  | 29721 |  | 27308 |  | 25543 |  | 23823 |  | 101677 |  | 142020 |  | 76865 |  | 41723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variables |  | 119074 |  | 108646 |  | 99977 |  | 91733 |  | 84054 |  | 325701 |  | 343954 |  | 162174 |  | 75489 |
|  Non-life insurance |  | 501947 |  | 442544 |  | 383223 |  | 341588 |  | 305996 |  | 1249910 |  | 1880938 |  | 1420549 |  | 2758338 |
|  Total insurance contract issued | W | 827127 | W | 742896 | W | 661512 | W | 600009 | W | 546349 | W | 2258725 | W | 3216951 | W | 2278905 | W | 3483456 |
|  Reinsurance contract held |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Life insurance Death | W | 1435 | W | 1288 | W | 1178 | W | 1092 | W | 959 | W | 3741 | W | 4461 | W | 2878 | W | 2685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health |  | 560 |  | 455 |  | 369 |  | 291 |  | 232 |  | 704 |  | 449 |  | (170) |  | (1658) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compound |  | 1183 |  | 1028 |  | 910 |  | 835 |  | 779 |  | 3297 |  | 4395 |  | 2805 |  | 2764 |
|  Non-life insurance |  | 3709 |  | 4109 |  | 3858 |  | 3422 |  | 3209 |  | 14421 |  | 25276 |  | 15889 |  | 6713 |
|  Total reinsurance contract held | W | 6887 | W | 6880 | W | 6315 | W | 5640 | W | 5179 | W | 22163 | W | 34581 | W | 21402 | W | 10504 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.6 The annual expected amortization schedule of contractual service margin of insurance contracts and reinsurance contracts not applying the premium allocation approach as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | Less than a<br>year | Less than a<br>year | 1 ~ 2 years | 1 ~ 2 years | 2 ~ 3 years | 2 ~ 3 years | 3 ~ 4 years | 3 ~ 4 years | 4 ~ 5 years | 4 ~ 5 years | 5 ~ 10 years | 5 ~ 10 years | 10 ~ 20 years | 10 ~ 20 years | 20 ~ 30 years | 20 ~ 30 years | Over 30 years | Over 30 years |
|  Insurance contract issued |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Life insurance Death | W | 146413 | W | 137161 | W | 130082 | W | 123783 | W | 117286 | W | 518904 | W | 800072 | W | 621889 | W | 606390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health |  | 10289 |  | 9391 |  | 8712 |  | 8140 |  | 7620 |  | 31118 |  | 34523 |  | 22563 |  | 40050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension |  | 34533 |  | 30178 |  | 26981 |  | 24871 |  | 22681 |  | 91418 |  | 151649 |  | 105300 |  | 61326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variables |  | 61000 |  | 57634 |  | 54830 |  | 52244 |  | 50011 |  | 216644 |  | 295763 |  | 221994 |  | 210052 |
|  Non-life insurance |  | 484976 |  | 433328 |  | 381336 |  | 339983 |  | 309393 |  | 1274043 |  | 1908588 |  | 1333457 |  | 2355379 |
|  Total insurance contract issued | W | 737211 | W | 667692 | W | 601941 | W | 549021 | W | 506991 | W | 2132127 | W | 3190595 | W | 2305203 | W | 3273197 |
|  Reinsurance contract held |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Life insurance Death | W | 1032 | W | 902 | W | 798 | W | 721 | W | 652 | W | 2243 | W | 1653 | W | 1200 | W | 938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health |  | (40) |  | (41) |  | (53) |  | (77) |  | (88) |  | (885) |  | (1784) |  | (1556) |  | (2975) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compound |  | 172 |  | 128 |  | 99 |  | 78 |  | 67 |  | 176 |  | 192 |  | 147 |  | 142 |
|  Non-life insurance |  | (2468) |  | (1566) |  | (1051) |  | (733) |  | (486) |  | 36 |  | 4797 |  | 6300 |  | (4328) |
|  Total reinsurance contract held | W | (1304) | W | (577) | W | (207) | W | (11) | W | 145 | W | 1570 | W | 4858 | W | 6091 | W | (6223) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.7 The details and fair value of the underlying items of insurance contracts with direct participation features as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** |
|  Underlying items held by the Group |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | W | 186815 | W | 137021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity securities |  | 1380879 |  | 853971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt securities |  | 2513764 |  | 2583976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beneficiary certificates |  | 1975855 |  | 1749807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other securities |  | 153227 |  | 276907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 70300 |  | 94300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 44309 |  | 48074 |
|  Total | W | 6325149 | W | 5744056 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.8 The relationship between investment income(expenses) and insurance financial income(expenses) for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Total** | **Total** |
|  | **Retirement** | **Retirement** | **Variables** | **Variables** | **Others** | **Others** | **Long-term** | **Long-term** | **General and<br>Automobile** | **General and<br>Automobile** | **Overseas** | **Overseas** | **Others** | **Others** | **Total** | **Total** |
|  **Investment income (expenses)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Investment income (expenses) recognized in profit or loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Net interest income (expenses) | W | 15331 | W | 87328 | W | 587402 | W | 620114 | W | 142230 | W | 6446 | W | (45133) | W | 1413718 |
|  Dividend income |  | 714 |  | 21847 |  | 20086 |  | 13925 |  | 17078 |  | 4 |  | 28624 |  | 102278 |
|  Gains (losses) on valuation and disposal of securities |  | (18) |  | 940264 |  | (87331) |  | 49149 |  | 80980 |  | 613 |  | 27666 |  | 1011323 |
|  Gains (losses) on valuation and disposal of loans and receivables |  |  |  |  |  |  |  | (24107) |  | 11010 |  | (1224) |  | (4020) |  | (18341) |
|  Gains (losses) on derivatives |  | (652) |  | 11554 |  | (26148) |  | (31136) |  | (6347) |  |  |  | (14096) |  | (66825) |
|  Gains (losses) on investments in subsidiaries |  |  |  |  |  | (146) |  | (799) |  |  |  |  |  | 28 |  | (917) |
|  Foreign exchange gains (losses) |  | (397) |  | (17970) |  | (16026) |  | (3940) |  | (28299) |  | 177 |  | 11279 |  | (55176) |
|  Other investment income (expenses) |  | (20768) |  | 38984 |  | 94958 |  | (76557) |  | 343252 |  | (689) |  | (5020) |  | 374160 |
|  |  | (5790) |  | 1082007 |  | 572795 |  | 546649 |  | 559904 |  | 5327 |  | (672) |  | 2760220 |
|  Investment income (expenses) recognized in other comprehensive income |  | (4884) |  |  |  | (1116525) |  | (1577881) |  | (40451) |  | 1220 |  | (7286) |  | (2745807) |
|  **Total investment income (expenses)** | W | (10674) | W | 1082007 | W | (543730) | W | (1031232) | W | 519453 | W | 6547 | W | (7958) | W | 14413 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.8 The relationship between investment income(expenses) and insurance financial income(expenses) for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Total** | **Total** |
|  | **Retirement** | **Retirement** | **Variables** | **Variables** | **Others** | **Others** | **Long-term** | **Long-term** | **General and<br>Automobile** | **General and<br>Automobile** | **Overseas** | **Overseas** | **Others** | **Others** | **Total** | **Total** |
|  **Insurance finance income (expenses)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Insurance finance income (expenses) recognized in profit or loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Net interest income (expenses) | W |  | W | (686) | W | (763412) | W | (695925) | W | (29294) | W |  | W |  | W | (1489317) |
|  Effect of changes in discount rates and financial assumptions |  |  |  |  |  | 1097 |  |  |  |  |  |  |  |  |  | 1097 |
|  Effect of exchange rate fluctuations |  |  |  | 1907 |  | 5882 |  |  |  | 3994 |  |  |  |  |  | 11783 |
|  Changes in the fair value of the underlying assets of insurance contract with direct participation features |  |  |  | (1081894) |  |  |  |  |  |  |  |  |  |  |  | (1081894) |
|  Other insurance finance income (expenses) |  |  |  |  |  |  |  | 2002 |  | (201) |  | 359 |  |  |  | 2160 |
|  |  |  |  | (1080673) |  | (756433) |  | (693923) |  | (25501) |  | 359 |  |  |  | (2556171) |
|  Insurance finance income (expenses) recognized in other comprehensive income |  |  |  | (40) |  | 888129 |  | 743062 |  | 3536 |  |  |  |  |  | 1634687 |
|  **Total insurance finance income (expenses)** | W |  | W | (1080713) | W | 131696 | W | 49139 | W | (21965) | W | 359 | W |  | W | (921484) |
|  **Reinsurance finance income (expenses)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Reinsurance finance income (expenses) recognized in profit or loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Net interest income (expenses) | W |  | W |  | W | (1036) | W | 15597 | W | 7473 | W |  | W |  | W | 22034 |
|  Effect of changes in discount rates and financial assumptions |  |  |  |  |  | (1) |  |  |  |  |  |  |  |  |  | (1) |
|  Effect of exchange rate fluctuations |  |  |  |  |  | 11 |  |  |  | (5556) |  |  |  |  |  | (5545) |
|  Other reinsurance finance income (expenses) |  |  |  |  |  | (6) |  | 4038 |  | 41430 |  | 217 |  |  |  | 45679 |
|  |  |  |  |  |  | (1032) |  | 19635 |  | 43347 |  | 217 |  |  |  | 62167 |
|  Reinsurance finance income (expenses) recognized in other comprehensive income |  |  |  |  |  | 9876 |  | (11758) |  | 1435 |  |  |  |  |  | (447) |
|  **Total reinsurance finance income (expenses)** |  |  |  |  |  | 8844 |  | 7877 |  | 44782 |  | 217 |  |  |  | 61720 |
|  **Net investment income (expenses)** | W | (10674) | W | 1294 | W | (403190) | W | (974216) | W | 542270 | W | 7123 | W | (7958) | W | (845351) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.8 Details of other insurance finance income and expenses for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Total** | **Total** |
|  | **Retirement** | **Retirement** | **Variables** | **Variables** | **Others** | **Others** | **Long-term** | **Long-term** | **General and<br>Automobile** | **General and<br>Automobile** | **Overseas** | **Overseas** | **Others** | **Others** | **Total** | **Total** |
|  **Investment income (expenses)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Investment income (expenses) recognized in profit or loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Net Interest income (expenses) | W | 14139 | W | 83095 | W | 539964 | W | 580215 | W | 134613 | W | 5803 | W | (21354) | W | 1336475 |
|  Dividend income |  |  |  | 21037 |  | 13172 |  | 11667 |  | 13028 |  | 8 |  | 5518 |  | 64430 |
|  Gains (losses) on valuation and disposal of securities |  | 6317 |  | 136200 |  | (72391) |  | (48289) |  | (15083) |  | (409) |  | 1228 |  | 7573 |
|  Gains (losses) on valuation and disposal of loans and receivables |  |  |  |  |  |  |  | 5183 |  | (3644) |  |  |  | (758) |  | 781 |
|  Gains (losses) on derivatives |  | (5464) |  | (47360) |  | (192899) |  | (255227) |  | (249021) |  |  |  |  |  | (749971) |
|  Gains (losses) on investments in subsidiaries |  |  |  |  |  | (259) |  | (704) |  |  |  |  |  |  |  | (963) |
|  Foreign exchange gains (losses) |  | 4821 |  | 113507 |  | 213545 |  | 242021 |  | 215968 |  | 168 |  |  |  | 790030 |
|  Other investment income (expenses) |  | (25554) |  | 35326 |  | 90607 |  | (74543) |  | 306342 |  | (877) |  | 14930 |  | 346231 |
|  |  | (5741) |  | 341805 |  | 591739 |  | 460323 |  | 402203 |  | 4693 |  | (436) |  | 1794586 |
|  Investment income (expenses) recognized in other comprehensive income |  | 8747 |  |  |  | 937243 |  | 715023 |  | 32901 |  | 219 |  | 69601 |  | 1763734 |
|  **Total investment income (expenses)** | W | 3006 | W | 341805 | W | 1528982 | W | 1175346 | W | 435104 | W | 4912 | W | 69165 | W | 3558320 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.8 The relationship between investment income(expenses) and insurance financial income(expenses) for the year ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Non-life insurance** | **Total** | **Total** |
|  | **Retirement** | **Retirement** | **Variables** | **Variables** | **Others** | **Others** | **Long-term** | **Long-term** | **General and<br>Automobile** | **General and<br>Automobile** | **Overseas** | **Overseas** | **Others** | **Others** | **Total** | **Total** |
|  **Insurance finance income (expenses)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Insurance finance income (expenses) recognized in profit or loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Net Interest income (expenses) | W |  | W | (895) | W | (741055) | W | (715762) | W | (3806) | W |  | W |  | W | (1461518) |
|  Effect of changes in discount rates and financial assumptions |  |  |  |  |  | (616) |  |  |  |  |  |  |  |  |  | (616) |
|  Effect of exchange rate fluctuations |  |  |  | (15470) |  | (35568) |  |  |  | (50526) |  |  |  |  |  | (101564) |
|  Changes in the fair value of the underlying assets of insurance contract with direct participation features |  |  |  | (329336) |  |  |  |  |  |  |  |  |  |  |  | (329336) |
|  Other insurance finance income (expenses) |  |  |  |  |  |  |  | 7754 |  | (1410) |  | (426) |  |  |  | 5918 |
|  |  |  |  | (345701) |  | (777239) |  | (708008) |  | (55742) |  | (426) |  |  |  | (1887116) |
|  Insurance finance income (expenses) recognized in other comprehensive income |  |  |  | (138) |  | (2091444) |  | (2244510) |  | (9932) |  |  |  |  |  | (4346024) |
|  **Total insurance finance income (expenses)** | W |  | W | (345839) | W | (2868683) | W | (2952518) | W | (65674) | W | (426) | W |  | W | (6233140) |
|  **Reinsurance finance income (expenses)** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Reinsurance finance income (expenses) recognized in profit or loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Net Interest income (expenses) | W |  | W |  | W | (1020) | W | 14269 | W | 1829 | W |  | W |  | W | 15078 |
|  Effect of changes in discount rates and financial assumptions |  |  |  |  |  | (13) |  |  |  |  |  |  |  |  |  | (13) |
|  Effect of exchange rate fluctuations |  |  |  |  |  | (112) |  |  |  | 49186 |  |  |  |  |  | 49074 |
|  Other reinsurance finance income (expenses) |  |  |  |  |  | 7 |  | (5017) |  | (55516) |  | 62 |  |  |  | (60464) |
|  |  |  |  |  |  | (1138) |  | 9252 |  | (4501) |  | 62 |  |  |  | 3675 |
|  Reinsurance finance income (expenses) recognized in other comprehensive income |  |  |  |  |  | (5201) |  | 30943 |  | 3038 |  |  |  |  |  | 28780 |
|  **Total reinsurance finance income (expenses)** |  |  |  |  |  | (6339) |  | 40195 |  | (1463) |  | 62 |  |  |  | 32455 |
|  **Net investment income (expenses)** | W | 3006 | W | (4034) | W | (1346040) | W | (1736977) | W | 367967 | W | 4548 | W | 69165 | W | (2642365) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.9 Insurance income and changes in contractual service margin of insurance contracts not applying the premium allocation approach by transition approaches for the years ended December 31, 2025 and 2024, are as follows:

38.9.1 Insurance contract

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | Contracts applying<br>the fair value<br>approach | Contracts applying<br>the fair value<br>approach | All other contracts | All other contracts | Total | Total |
|  Insurance income | W | 2801298 | W | 4534074 | W | 7335372 |
|  Beginning contractual service margin |  | 3041918 |  | 10922060 |  | 13963978 |
|  Current period service-related changes |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit or loss recognized related to service provided |  | (226119) |  | (1078886) |  | (1305005) |
|  Future service-related changes |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in estimations adjusting contractual service margin |  | 86091 |  | (835624) |  | (749533) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of new contracts |  |  |  | 2246585 |  | 2246585 |
|  Insurance service result |  | (140028) |  | 332075 |  | 192047 |
|  Insurance finance income and expenses |  | 100410 |  | 359495 |  | 459905 |
|  Ending contractual service margin | W | 3002300 | W | 11613630 | W | 14615930 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | Contracts applying<br>the fair value<br>approach | Contracts applying<br>the fair value<br>approach | All other contracts | All other contracts | Total | Total |
|  Insurance income | W | 2765232 | W | 4006417 | W | 6771649 |
|  Beginning contractual service margin |  | 2833819 |  | 11024603 |  | 13858422 |
|  Current period service-related changes |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit or loss recognized related to service provided |  | (201832) |  | (1077426) |  | (1279258) |
|  Future service-related changes |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in estimations adjusting contractual service margin |  | 322158 |  | (1859892) |  | (1537734) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of new contracts |  |  |  | 2433624 |  | 2433624 |
|  Insurance service result |  | 120326 |  | (503694) |  | (383368) |
|  Insurance finance income and expenses |  | 87773 |  | 401151 |  | 488924 |
|  Ending contractual service margin | W | 3041918 | W | 10922060 | W | 13963978 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.9.2 Reinsurance contract

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | Contracts applying<br>the fair value<br>approach | Contracts applying<br>the fair value<br>approach | All other contracts | All other contracts | Total | Total |
|  Allocation of Reinsurance Premiums | W | (55816) | W | (142512) | W | (198328) |
|  Beginning contractual service margin |  | 169974 |  | (165632) |  | 4342 |
|  Current period service-related changes |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit or loss recognized related to service received |  | (17244) |  | 8004 |  | (9240) |
|  Future service-related changes |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in estimations adjusting contractual service margin |  | 21113 |  | 99203 |  | 120316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of new contracts |  |  |  | 1817 |  | 1817 |
|  Reinsurance service result |  | 3869 |  | 109024 |  | 112893 |
|  Reinsurance finance income and expenses |  | 5823 |  | (3507) |  | 2316 |
|  Ending contractual service margin | W | 179666 | W | (60115) | W | 119551 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | Contracts applying<br>the fair value<br>approach | Contracts applying<br>the fair value<br>approach | All other contracts | All other contracts | Total | Total |
|  Allocation of Reinsurance Premiums | W | (70095) | W | (148358) | W | (218453) |
|  Beginning contractual service margin |  | 182636 |  | (178416) |  | 4220 |
|  Current period service-related changes |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit or loss recognized related to service received |  | (15284) |  | 15575 |  | 291 |
|  Future service-related changes |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in estimations adjusting contractual service margin |  | (3191) |  | 27787 |  | 24596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of new contracts |  |  |  | (25525) |  | (25525) |
|  Reinsurance service result |  | (18475) |  | 17837 |  | (638) |
|  Reinsurance finance income and expenses |  | 5813 |  | (5053) |  | 760 |
|  Ending contractual service margin | W | 169974 | W | (165632) | W | 4342 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.10 Changes in other comprehensive income of financial instruments related to insurance contract groups that applied the modified retrospective approach or the fair value approach at the transition date

Changes in other comprehensive income of financial instruments related to insurance contract groups for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Beginning | W | (424129) | W | (545629) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes due to fair value measurement |  | (274199) |  | 153390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes due to reclassification to profit or loss |  | 15311 |  | 11691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax effect |  | 77533 |  | (43581) |
|  Ending | W | (605484) | W | (424129) |

---

38.11 Risk Management of KB Insurance Co., Ltd.

38.11.1 Overview of insurance risk

Insurance risk is the risk that arises from a primary operation of insurance companies that is associated with underwriting of insurance contracts and payment of claims, which has the risk of greater loss incurring than anticipated by the Group. The Group manages insurance risk in different categories of long-term insurance, general insurance, and automobile insurance.

38.11.1.1 Key items of Long-term insurance

---

| | |
|:---|:---|
|  Mortality Risk | Risk of unexpected losses due to premature death compared to the insured's expectations. |
| Longevity Risk | Risk of unexpected losses due to delayed death compared to the insured's expectations. |
| Disability/Illness Risk | Risk of unexpected losses related to the insured's disability and illness. |
| Long-term Property/Other Risks | Risk of unexpected losses related to property, expenses, indemnities, and other collateral in long-term insurance. |
| Termination Risk | Risk of losses due to unexpected exercise of legal rights or contractual options by policyholders. |
| Expense Risk | Risk of losses due to fluctuations in future costs and expenditure variations caused by inflation in relation to insurance contract costs. |
| Catastrophic Risk | Risk of extreme, exceptional losses (e.g., epidemics, major accidents) not considered in mortality risk, etc. |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.1.2 Key items of general and automobile insurance

---

| | |
|:---|:---|
| Price Risk | Risk of losses exceeding the expected mortality rate and expense ratio calculated when determining insurance premiums. |
| Reserve Risk | Risk of being unable to cover future insurance payments reserved for incurred but not reported insurance accidents. |
| Catastrophic Risk | Risk of losses due to extreme, exceptional risks not considered in insurance price risk and reserve risk. |

---

38.11.2 Purposes, policies, and procedures to manage risk arising from insurance contracts

The risks associated with insurance contracts that the Group faces are insurance actuarial risk and underwriting risk. Each risk occurs due to insurance contract's pricing and conditions of underwriting. In order to minimize the possibility of acquiring a bad contract, the Group has established and operated detailed underwriting guidelines and underwriting procedures by insurance type that specify detailed underwriting conditions according to the type of risk covered through pre-analysis of insured property. In addition, the Group is making efforts to reduce insurance actuarial risk by follow-up measures such as adjustments of premium rate, changes of sales conditions, termination of selling specific product, development of new product, and others through comparing and analyzing the expected risk level at the date of pricing and actual risk level after the acceptance. The Group has prepared a process to minimize management risk other than insurance actuarial risk and underwriting risk by operating a committee that shares opinions on underwriting policies and premium rate policies and decides important matters.

In addition, by establishing a reinsurance operating strategy according to the reinsurance operating standards, the Group is preparing for the possibility of incurring high claim expenses at once due to unexpected catastrophic accidents while maintaining an appropriate holding level considering the solvency of the Group. The Group supports the protection and stable interests of policyholders, and comprehensively manages risks to maximize corporate value in the mid to long term.

38.11.3 Concentration of insurance risk

The Group is selling various insurance contracts such as general non-life insurances (fire, maritime, injury, technology, liability, package, title, guarantee, and other special type insurances), automobile insurances (for private use, for business use, for commercial use, bicycle, and others), long-term insurances (long-term non-life, property damage, injury, driver, savings, illness, nursing, and pension), and others. The Group's risk is distributed through reinsurance, joint acceptance, and sales of diversified insurance products. In addition, insurances such as storm and flood insurance, which have a very low probability of occurrence but cover severe levels of risk, are controlled through acceptance limit and joint acquisition. The Group classifies concentration of insurance risk by type of insurance product and region.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.3.1 Before reinsurance mitigation

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Domestic** | **Domestic** | **United States** | **United States** | **China** | **China** | **Others** | **Others** |
|  General insurance |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fire | W | 8334 | W |  | W |  | W |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maritime |  | 91946 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 1417768 |  | 72462 |  | 30581 |  | 32141 |
|  Long-term insurance |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Injury, illness, and property |  | 17918617 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension |  | 4527963 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | (258534) |  |  |  |  |  |  |
|  Automobile insurance |  | 2155573 |  |  |  |  |  |  |
|  Total | W | 25861667 | W | 72462 | W | 30581 | W | 32141 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Domestic** | **Domestic** | **United States** | **United States** | **China** | **China** | **Others** | **Others** |
|  General insurance |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fire | W | 14775 | W |  | W |  | W |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maritime |  | 41674 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 1282134 |  | 105543 |  | 63516 |  | 40830 |
|  Long-term insurance |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Injury, illness, and property |  | 17963247 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension |  | 4873238 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | (263714) |  |  |  |  |  |  |
|  Automobile insurance |  | 2145366 |  |  |  |  |  |  |
|  Total | W | 26056720 | W | 105543 | W | 63516 | W | 40830 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.3.2 After reinsurance mitigation

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Domestic** | **Domestic** | **United States** | **United States** | **China** | **China** | **Others** | **Others** |
|  General insurance |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fire | W | 12202 | W |  | W |  | W |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maritime |  | 22594 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 556148 |  | 7453 |  | 19868 |  | 11540 |
|  Long-term insurance |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Injury, illness, and property |  | 17467245 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension |  | 4527963 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | (258540) |  |  |  |  |  |  |
|  Automobile insurance |  | 2149796 |  |  |  |  |  |  |
|  Total | W | 24477408 | W | 7453 | W | 19868 | W | 11540 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Domestic** | **Domestic** | **United States** | **United States** | **China** | **China** | **Others** | **Others** |
|  General insurance |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fire | W | 18764 | W |  | W |  | W |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maritime |  | 25310 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 486222 |  | 2854 |  | 25842 |  | 16845 |
|  Long-term insurance |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Injury, illness, and property |  | 17471358 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension |  | 4873238 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | (263754) |  |  |  |  |  |  |
|  Automobile insurance |  | 2138413 |  |  |  |  |  |  |
|  Total | W | 24749551 | W | 2854 | W | 25842 | W | 16845 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4 Claims development tables

The Group verifies and evaluates the adequacy of reserve for outstanding claims for general, automobile, and long-term insurance with methods such as paid loss development trend and incurred loss development trend. If the individually estimated claims are insufficient, the Group recognizes additional reserves. Claims development tables as of December 31, 2025 and 2024, are as follows:

38.11.4.1 Claims development tables as of December 31, 2025

38.11.4.1.1 Before reinsurance mitigation

***General Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **2025** | **2025** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 839279 | W | 926787 | W | 918732 | W | 984418 | W | 814504 | W | 927454 | W |  |
|  2 years |  | 1035332 |  | 923424 |  | 846577 |  | 902960 |  | 909283 |  |  |  |  |
|  3 years |  | 954050 |  | 834723 |  | 826232 |  | 896256 |  |  |  |  |  |  |
|  4 years |  | 970065 |  | 863696 |  | 839935 |  |  |  |  |  |  |  |  |
|  5 years |  | 985358 |  | 867635 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 1007378 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 1007378 | W | 867635 | W | 839935 | W | 896256 | W | 909283 | W | 927454 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (963631) | W | (814162) | W | (775120) | W | (751912) | W | (693101) | W | (378737) | W |  |
|  Difference between estimated final loss and claim payments. |  | 43747 |  | 53473 |  | 64815 |  | 144344 |  | 216182 |  | 548717 |  | 1071278 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 39308 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 58712 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | (66572) |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (28446) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 45098 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | 124073 |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 1243451 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1.1 Before reinsurance mitigation (cont'd)

***Automobile Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **2025** | **2025** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 1639258 | W | 1758406 | W | 1853766 | W | 1958153 | W | 2103927 | W | 2182754 | W |  |
|  2 years |  | 1645744 |  | 1766713 |  | 1865422 |  | 1985790 |  | 2127236 |  |  |  |  |
|  3 years |  | 1642418 |  | 1754773 |  | 1850203 |  | 1977756 |  |  |  |  |  |  |
|  4 years |  | 1633491 |  | 1746422 |  | 1845598 |  |  |  |  |  |  |  |  |
|  5 years |  | 1627590 |  | 1742751 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 1623593 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 1623593 | W | 1742751 | W | 1845598 | W | 1977756 | W | 2127236 | W | 2182754 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (1617927) | W | (1732847) | W | (1831284) | W | (1952674) | W | (2079289) | W | (1866676) | W |  |
|  Difference between estimated final loss and claim payments. |  | 5666 |  | 9904 |  | 14314 |  | 25082 |  | 47947 |  | 316078 |  | 418991 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 15259 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 21860 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | 31314 |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (14944) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 24572 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | 4505 |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 501557 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1.1 Before reinsurance mitigation (cont'd)

***Long-term Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **2025** | **2025** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 2593514 | W | 3003522 | W | 3159835 | W | 3485979 | W | 3865301 | W | 4503006 | W |  |
|  2 years |  | 2551274 |  | 2965954 |  | 3180537 |  | 3481470 |  | 3835808 |  |  |  |  |
|  3 years |  | 2554205 |  | 2972948 |  | 3176257 |  | 3488177 |  |  |  |  |  |  |
|  4 years |  | 2557951 |  | 2960640 |  | 3178678 |  |  |  |  |  |  |  |  |
|  5 years |  | 2535147 |  | 2960038 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 2535669 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 2535669 | W | 2960038 | W | 3178678 | W | 3488177 | W | 3835808 | W | 4503006 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (2526965) | W | (2944643) | W | (3149494) | W | (3417292) | W | (3649865) | W | (3234395) | W |  |
|  Difference between estimated final loss and claim payments. |  | 8704 |  | 15395 |  | 29184 |  | 70885 |  | 185943 |  | 1268611 |  | 1578722 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 69297 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 10099 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | 537786 |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (37695) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 28691 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 2186900 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1.2 After reinsurance mitigation

***General Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **2025** | **2025** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 332137 | W | 463207 | W | 512812 | W | 501574 | W | 534363 | W | 556028 | W |  |
|  2 years |  | 344149 |  | 449737 |  | 499457 |  | 486350 |  | 540022 |  |  |  |  |
|  3 years |  | 343707 |  | 447047 |  | 494871 |  | 480219 |  |  |  |  |  |  |
|  4 years |  | 347312 |  | 446223 |  | 498015 |  |  |  |  |  |  |  |  |
|  5 years |  | 348238 |  | 447169 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 354598 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 354598 | W | 447169 | W | 498015 | W | 480219 | W | 540022 | W | 556028 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (338885) | W | (419344) | W | (464227) | W | (423533) | W | (449958) | W | (276214) | W |  |
|  Difference between estimated final loss and claim payments. |  | 15713 |  | 27825 |  | 33788 |  | 56686 |  | 90064 |  | 279814 |  | 503890 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 28596 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 29923 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | (263096) |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (13310) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 22407 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | 7165 |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 315575 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1.2 After reinsurance mitigation (cont'd)

***Automobile Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **2025** | **2025** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 1615387 | W | 1745376 | W | 1849405 | W | 1958153 | W | 2103927 | W | 2182754 | W |  |
|  2 years |  | 1621647 |  | 1753171 |  | 1861151 |  | 1985790 |  | 2127236 |  |  |  |  |
|  3 years |  | 1618230 |  | 1741566 |  | 1845928 |  | 1977756 |  |  |  |  |  |  |
|  4 years |  | 1609312 |  | 1733214 |  | 1841338 |  |  |  |  |  |  |  |  |
|  5 years |  | 1603558 |  | 1729529 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 1599515 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 1599515 | W | 1729529 | W | 1841338 | W | 1977756 | W | 2127236 | W | 2182754 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (1594113) | W | (1719867) | W | (1827127) | W | (1952674) | W | (2079289) | W | (1866676) | W |  |
|  Difference between estimated final loss and claim payments. |  | 5402 |  | 9662 |  | 14211 |  | 25082 |  | 47947 |  | 316078 |  | 418382 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 15259 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 20874 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | 28580 |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (15162) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 24572 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | 2626 |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 495131 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1.2 After reinsurance mitigation (cont'd)

***Long-term Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **2025** | **2025** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 2171401 | W | 2514713 | W | 2664628 | W | 2932961 | W | 3270270 | W | 3816401 | W |  |
|  2 years |  | 2138663 |  | 2492911 |  | 2691880 |  | 2940423 |  | 3234653 |  |  |  |  |
|  3 years |  | 2141754 |  | 2499670 |  | 2688097 |  | 2944644 |  |  |  |  |  |  |
|  4 years |  | 2145240 |  | 2487607 |  | 2690195 |  |  |  |  |  |  |  |  |
|  5 years |  | 2122645 |  | 2486817 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 2123030 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 2123030 | W | 2486817 | W | 2690195 | W | 2944644 | W | 3234653 | W | 3816401 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (2115384) | W | (2473284) | W | (2664876) | W | (2883076) | W | (3073128) | W | (2727365) | W |  |
|  Difference between estimated final loss and claim payments. |  | 7646 |  | 13533 |  | 25319 |  | 61568 |  | 161525 |  | 1089036 |  | 1358627 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 61019 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 8923 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | 295267 |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (32550) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 25260 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | (1074) |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 1715472 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1 Claims development tables as of December 31, 2024

38.11.4.1.1 Before reinsurance mitigation

***General Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2019** | **2019** | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 559484 | W | 839279 | W | 926787 | W | 918732 | W | 984418 | W | 814504 | W |  |
|  2 years |  | 567735 |  | 1035332 |  | 923424 |  | 846577 |  | 902960 |  |  |  |  |
|  3 years |  | 592403 |  | 954050 |  | 834723 |  | 826232 |  |  |  |  |  |  |
|  4 years |  | 598698 |  | 970065 |  | 863696 |  |  |  |  |  |  |  |  |
|  5 years |  | 587100 |  | 985358 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 596022 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 596022 | W | 985358 | W | 863696 | W | 826232 | W | 902960 | W | 814504 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (566989) | W | (926208) | W | (736614) | W | (734104) | W | (661452) | W | (401239) | W |  |
|  Difference between estimated final loss and claim payments. |  | 29033 |  | 59150 |  | 127082 |  | 92128 |  | 241508 |  | 413265 |  | 962166 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 35214 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 55738 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | (59440) |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (50183) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 66819 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | 160175 |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 1170489 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1.1 Before reinsurance mitigation (cont'd)

***Automobile Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2019** | **2019** | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 1626553 | W | 1639258 | W | 1758406 | W | 1853766 | W | 1958153 | W | 2103927 | W |  |
|  2 years |  | 1639692 |  | 1645744 |  | 1766713 |  | 1865422 |  | 1985790 |  |  |  |  |
|  3 years |  | 1645194 |  | 1642418 |  | 1754773 |  | 1850203 |  |  |  |  |  |  |
|  4 years |  | 1648516 |  | 1633491 |  | 1746422 |  |  |  |  |  |  |  |  |
|  5 years |  | 1642245 |  | 1627590 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 1635591 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 1635591 | W | 1627590 | W | 1746422 | W | 1850203 | W | 1985790 | W | 2103927 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (1625412) | W | (1612431) | W | (1725037) | W | (1815770) | W | (1929233) | W | (1785195) | W |  |
|  Difference between estimated final loss and claim payments. |  | 10179 |  | 15159 |  | 21385 |  | 34433 |  | 56557 |  | 318732 |  | 456445 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 17293 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 30525 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | 40596 |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (25779) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 23493 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | 5506 |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 548079 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1.1 Before reinsurance mitigation (cont'd)

***Long-term Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2019** | **2019** | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 2314936 | W | 2593514 | W | 3003522 | W | 3159835 | W | 3485979 | W | 3865301 | W |  |
|  2 years |  | 2322571 |  | 2551274 |  | 2965954 |  | 3180537 |  | 3481470 |  |  |  |  |
|  3 years |  | 2332331 |  | 2554205 |  | 2972948 |  | 3176257 |  |  |  |  |  |  |
|  4 years |  | 2339839 |  | 2557951 |  | 2960640 |  |  |  |  |  |  |  |  |
|  5 years |  | 2339712 |  | 2535147 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 2331162 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 2331162 | W | 2535147 | W | 2960640 | W | 3176257 | W | 3481470 | W | 3865301 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (2323338) | W | (2521506) | W | (2934570) | W | (3112639) | W | (3315239) | W | (2753646) | W |  |
|  Difference between estimated final loss and claim payments. |  | 7824 |  | 13641 |  | 26070 |  | 63618 |  | 166231 |  | 1111655 |  | 1389039 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 58757 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 10042 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | 488491 |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (34095) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 25696 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | 73 |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 1938003 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1.2 After reinsurance mitigation

***General Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2019** | **2019** | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 304171 | W | 332137 | W | 463207 | W | 512812 | W | 501574 | W | 534363 | W |  |
|  2 years |  | 308785 |  | 344149 |  | 449737 |  | 499457 |  | 486350 |  |  |  |  |
|  3 years |  | 316601 |  | 343707 |  | 447047 |  | 494871 |  |  |  |  |  |  |
|  4 years |  | 321173 |  | 347312 |  | 446223 |  |  |  |  |  |  |  |  |
|  5 years |  | 320026 |  | 348238 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 322928 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 322928 | W | 348238 | W | 446223 | W | 494871 | W | 486350 | W | 534363 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (314636) | W | (329592) | W | (408592) | W | (440061) | W | (381368) | W | (271173) | W |  |
|  Difference between estimated final loss and claim payments. |  | 8292 |  | 18646 |  | 37631 |  | 54810 |  | 104982 |  | 263190 |  | 487551 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 26568 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 25963 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | (265804) |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (20346) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 30498 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | 3587 |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 288017 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1.2 After reinsurance mitigation (cont'd)

***Automobile Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2019** | **2019** | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 1581086 | W | 1615387 | W | 1745376 | W | 1849405 | W | 1958153 | W | 2103927 | W |  |
|  2 years |  | 1594400 |  | 1621647 |  | 1753171 |  | 1861151 |  | 1985790 |  |  |  |  |
|  3 years |  | 1599550 |  | 1618230 |  | 1741566 |  | 1845928 |  |  |  |  |  |  |
|  4 years |  | 1602565 |  | 1609312 |  | 1733214 |  |  |  |  |  |  |  |  |
|  5 years |  | 1596518 |  | 1603558 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 1590109 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 1590109 | W | 1603558 | W | 1733214 | W | 1845928 | W | 1985790 | W | 2103927 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (1580312) | W | (1588824) | W | (1712162) | W | (1811664) | W | (1929233) | W | (1785195) | W |  |
|  Difference between estimated final loss and claim payments. |  | 9797 |  | 14734 |  | 21052 |  | 34264 |  | 56557 |  | 318732 |  | 455136 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 17243 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 28972 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | 40422 |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (25708) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 23493 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | 695 |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 540253 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.4.1.2 After reinsurance mitigation (cont'd)

***Long-term Insurance***

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2019** | **2019** | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **Total** | **Total** |
|  **Estimated final loss undiscounted** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  1 year | W | 1947243 | W | 2171401 | W | 2514713 | W | 2664628 | W | 2932961 | W | 3270270 | W |  |
|  2 years |  | 1954658 |  | 2138663 |  | 2492911 |  | 2691880 |  | 2940423 |  |  |  |  |
|  3 years |  | 1963266 |  | 2141754 |  | 2499670 |  | 2688097 |  |  |  |  |  |  |
|  4 years |  | 1970030 |  | 2145240 |  | 2487607 |  |  |  |  |  |  |  |  |
|  5 years |  | 1970227 |  | 2122645 |  |  |  |  |  |  |  |  |  |  |
|  6 years |  | 1961657 |  |  |  |  |  |  |  |  |  |  |  |  |
|  Estimated final loss | W | 1961657 | W | 2122645 | W | 2487607 | W | 2688097 | W | 2940423 | W | 3270270 | W |  |
|  **Gross cumulative claim payments** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (1954871) | W | (2110823) | W | (2464887) | W | (2633216) | W | (2796696) | W | (2315921) | W |  |
|  Difference between estimated final loss and claim payments. |  | 6786 |  | 11822 |  | 22720 |  | 54881 |  | 143727 |  | 954349 |  | 1194285 |
|  Estimated claim handling costs and expected indemnity |  |  |  |  |  |  |  |  |  |  |  |  |  | 51640 |
|  Incurred claims over 6 years ago |  |  |  |  |  |  |  |  |  |  |  |  |  | 8799 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  |  |  | 324142 |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  |  |  | (29354) |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  |  |  | 22645 |
|  Others |  |  |  |  |  |  |  |  |  |  |  |  |  | (1997) |
|  **Liability for incurred claims book value** | W |  | W |  | W |  | W |  | W |  | W |  | W | 1570160 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.5 Sensitivity analysis of insurance risk

The Group manages insurance risk by performing sensitivity analysis based on loss ratio, expense ratio, discount rate, and others which are considered to have significant influence on future cash flow, timing, and uncertainty.

Sensitivity analysis of insurance risk results of December 31, 2025 and 2024, are as follows:

38.11.5.1 Before reinsurance mitigation

*(In millions of Korean won)* 

---

| | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Shock<br>level | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | Shock<br>level | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** |
|  | Shock<br>level | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | CSM | CSM | CSM | CSM | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | CSM | CSM | CSM | CSM | Profit or loss | Profit or loss | Profit or loss | Profit or loss | OCI | OCI | OCI | OCI |
|  | Shock<br>level | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features |
|  Mortality rate | 3.27%<br>increase |  |  |  |  |  |  |  |  | W | 37 | W | 76370 | W | (32) | W | (77695) | W | (5) | W | (3105) | W |  | W | 4430 |
|  Disability/illness (fixed compensation) | 3.40%<br>increase |  |  |  |  |  |  |  |  |  | 79 |  | 1054906 |  | (75) |  | (986568) |  | (7) |  | (85523) |  | 3 |  | 17185 |
|  Disability/illness (actual expense compensation) | 2.62%<br>increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Long-term property/other risks | 4.19%<br>increase | W | 3251318 | W | 7458760 | W | 7836 | W | 9277197 |  |  |  | 48390 |  |  |  | (42473) |  |  |  | (6841) |  |  |  | 924 |
|  Lapse rate (increase) | 9.16%<br>increase |  |  |  |  |  |  |  |  |  | 1228 |  | 581399 |  | (1028) |  | (587112) |  | (183) |  | (34584) |  | (17) |  | 40297 |
|  Lapse rate (decrease) | 9.16%<br>decrease |  |  |  |  |  |  |  |  |  | (1279) |  | (631737) |  | 1074 |  | 649765 |  | 190 |  | 27128 |  | 15 |  | (45155) |
|  Expense ratio (level) | 2.62%<br>increase |  |  |  |  |  |  |  |  |  | 660 |  | 241094 |  | (566) |  | (229666) |  | (122) |  | (17467) |  | 28 |  | 6039 |
|  Expense ratio (inflation) | 0.26%p<br>increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

*(In millions of Korean won)* 

---

| | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Shock<br>level | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | Shock<br>level | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** |
|  | Shock<br>level | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | CSM | CSM | CSM | CSM | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | CSM | CSM | CSM | CSM | Profit or loss | Profit or loss | Profit or loss | Profit or loss | | | OCI | OCI |
|  | Shock<br>level | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features |
|  Mortality rate | 3.27%<br>increase |  |  |  |  |  |  |  |  | W | 40 | W | 79740 | W | (36) | W | (77504) | W | (5) | W | (3032) | W | 1 | W | 797 |
|  Disability/illness (fixed compensation) | 3.40%<br>increase |  |  |  |  |  |  |  |  |  | 93 |  | 1052913 |  | (86) |  | (949179) |  | (8) |  | (85651) |  | 1 |  | (18083) |
|  Disability/illness (actual expense compensation) | 2.62%<br>increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Long-term property/other risks | 4.19%<br>increase | W | 3401945 | W | 8406081 | W | 7540 | W | 8812942 |  |  |  | 42239 |  |  |  | (37387) |  |  |  | (4875) |  |  |  | 22 |
|  Lapse rate (increase) | 9.16%<br>increase |  |  |  |  |  |  |  |  |  | 1360 |  | 521112 |  | (1167) |  | (530501) |  | (205) |  | (24806) |  | 13 |  | 34194 |
|  Lapse rate (decrease) | 9.16%<br>decrease |  |  |  |  |  |  |  |  |  | (1419) |  | (565513) |  | 1217 |  | 581448 |  | 216 |  | 20330 |  | (14) |  | (36265) |
|  Expense ratio (level) | 2.62%<br>increase |  |  |  |  |  |  |  |  |  | 698 |  | 240775 |  | (585) |  | (221198) |  | (119) |  | (16839) |  | 7 |  | (2739) |
|  Expense ratio (inflation) | 0.26%p<br>increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.5.2 After reinsurance mitigation

*(In millions of Korean won)* 

---

| | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Shock<br>level | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | Shock<br>level | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** |
|  | Shock<br>level | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | CSM | CSM | CSM | CSM | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | CSM | CSM | CSM | CSM | Profit or loss | Profit or loss | Profit or loss | Profit or loss | | | OCI | OCI |
|  | Shock<br>level | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features |
|  Mortality rate | 3.27%<br>increase |  |  |  |  |  |  |  |  | W | 37 | W | 76432 | W | (32) | W | (77728) | W | (5) | W | (2870) | W |  | W | 4166 |
|  Disability/illness (fixed compensation) | 3.40%<br>increase |  |  |  |  |  |  |  |  |  | 79 |  | 1171381 |  | (75) |  | (1101808) |  | (7) |  | (76018) |  | 3 |  | 6446 |
|  Disability/illness (actual expense compensation) | 2.62%<br>increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Long-term property/other risks | 4.19%<br>increase | W | 3251318 | W | 7275463 | W | 7836 | W | 9196596 |  |  |  | 51755 |  |  |  | (45905) |  |  |  | (6322) |  |  |  | 472 |
|  Lapse rate (increase) | 9.16%<br>increase |  |  |  |  |  |  |  |  |  | 1228 |  | 577063 |  | (1028) |  | (582437) |  | (183) |  | (35316) |  | (17) |  | 40690 |
|  Lapse rate (decrease) | 9.16%<br>decrease |  |  |  |  |  |  |  |  |  | (1279) |  | (627099) |  | 1074 |  | 644766 |  | 190 |  | 27978 |  | 15 |  | (45645) |
|  Expense ratio (level) | 2.62%<br>increase |  |  |  |  |  |  |  |  |  | 660 |  | 242348 |  | (566) |  | (230938) |  | (122) |  | (15645) |  | 28 |  | 4234 |
|  Expense ratio (inflation) | 0.26%p<br>increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

*(In millions of Korean won)* 

---

| | | | | | | | | | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Shock<br>level | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | Shock<br>level | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Baseline amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Variance amount** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** | **Impact on profit or equity**<br> **(before tax)** |
|  | Shock<br>level | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | CSM | CSM | CSM | CSM | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | Fulfillment Cashflow | CSM | CSM | CSM | CSM | Profit or loss | Profit or loss | Profit or loss | Profit or loss | | | OCI | OCI |
|  | Shock<br>level | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>with<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features | Insurance<br>contracts<br>without<br>participation<br>features |
|  Mortality rate | 3.27%<br>increase |  |  |  |  |  |  |  |  | W | 40 | W | 79623 | W | (36) | W | (77385) | W | (5) | W | (2687) | W | 1 | W | 449 |
|  Disability/illness (fixed compensation) | 3.40%<br>increase |  |  |  |  |  |  |  |  |  | 93 |  | 1121235 |  | (86) |  | (1015818) |  | (8) |  | (71338) |  | 1 |  | (34079) |
|  Disability/illness (actual expense compensation) | 2.62%<br>increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  Long-term property/other risks | 4.19%<br>increase | W | 3401945 | W | 8111836 | W | 7540 | W | 8812446 |  |  |  | 45498 |  |  |  | (40649) |  |  |  | (4440) |  |  |  | (409) |
|  Lapse rate (increase) | 9.16%<br>increase |  |  |  |  |  |  |  |  |  | 1360 |  | 511355 |  | (1167) |  | (520973) |  | (205) |  | (25781) |  | 13 |  | 35398 |
|  Lapse rate (decrease) | 9.16%<br>decrease |  |  |  |  |  |  |  |  |  | (1419) |  | (555004) |  | 1217 |  | 571189 |  | 216 |  | 21512 |  | (14) |  | (37697) |
|  Expense ratio (level) | 2.62%<br>increase |  |  |  |  |  |  |  |  |  | 698 |  | 242302 |  | (585) |  | (222692) |  | (119) |  | (14262) |  | 7 |  | (5349) |
|  Expense ratio (inflation) | 0.26%p<br>increase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.6 Liquidity risk of insurance contracts

Liquidity risk arising from insurance contracts arises from the increase in refunds at maturity caused by concentrations of maturity, the excessive increase in surrender values caused by unexpected mass cancelation, and the increase in payments of claims caused by major accidents. The Group manages payment of refunds at maturity by analyzing remaining maturity of insurance contracts.

38.11.6.1 Maturity structure of insurance contract group as of December 31, 2025 and 2024, are as follows:

*(In millions of Korean won)* 

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | 1 year | 1 year | 1 year ~ 2 years | 1 year ~ 2 years | 2 years ~<br>3 years | 2 years ~<br>3 years | 3 years ~<br>4 years | 3 years ~<br>4 years | 4 years ~<br>5 years | 4 years ~<br>5 years | 5 years ~<br>10 years | 5 years ~<br>10 years | Over 10 years | Over 10 years | Total | Total |
|  Net insurance Contract liabilities with participation features | W | 195598 | W | 217206 | W | 227960 | W | 240527 | W | 241119 | W | 1160224 | W | 2902340 | W | 5184974 |
|  Net insurance contract assets without participation features |  | 1293177 |  | (1566389) |  | (1547055) |  | (1306654) |  | (1045575) |  | (2188858) |  | 60148121 |  | 53786767 |

---

*(In millions of Korean won)* 

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | 1 year | 1 year | 1 year ~ 2 years | 1 year ~ 2 years | 2 years ~<br>3 years | 2 years ~<br>3 years | 3 years ~<br>4 years | 3 years ~<br>4 years | 4 years ~<br>5 years | 4 years ~<br>5 years | 5 years ~<br>10 years | 5 years ~<br>10 years | Over 10 years | Over 10 years | Total | Total |
|  Net insurance Contract liabilities with participation features | W | 195213 | W | 207186 | W | 207028 | W | 234497 | W | 218826 | W | 1125604 | W | 3090912 | W | 5279266 |
|  Net insurance contract assets without participation features |  | 1141340 |  | (1585201) |  | (1277219) |  | (1330184) |  | (1000711) |  | (2175895) |  | 56473438 |  | 50245568 |

---

The net outflow amount is represented as positive numbers, while the net inflow amount is represented as negative numbers.

38.11.6.2 The amount payable upon demand as of December 31, 2025 and 2024, are W 27,627,111 million and W 26,374,280 million, respectively.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.7 Credit risk of insurance contract

Credit risk of an insurance contract refers to economic losses in which the reinsurer, the counterparty, is unable to fulfil its contract obligations due to a decline in credit ratings or default or others. Through an internal review, only the insurers rated BBB- or higher of S&P rating or corresponding rating are selected as reinsurance companies.

38.11.7.1 Concentration and credit ratings for top three reinsurance companies as of December 31, 2025, are as follows:

---

| | | |
|:---|:---|:---|
| **Reinsurance company** | **Ratio** | **Credit<br>rating** |
|  KOREANRE | 33.29% | AA+ |
|  MUNICHRE | 5.16% | AAA |
|  SWISSREINSURANCE | 3.79% | AAA |

---

38.11.7.2 Exposure to credit risk arising from reinsurance contract as of December 31, 2025 and 2024, are as follows:

*(In millions of Korean won)* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| **Reference** | **Amount** | **Amount** | **Reference** | **Amount** | **Amount** |
|  Reinsurance contract assets | W | 1506136 | Reinsurance contract assets | W | 1493495 |
|  Reinsurance contract liabilities |  | 25554 | Reinsurance contract liabilities |  | 21978 |

---

38.11.8 Interest rate risk of insurance contract

The Group measures interest rate risk for insurance contract liabilities exposed to interest rate risk, which include long-term, automobile, and general insurance.

The Group calculates the exposure of insurance contract liabilities for long-term liability for remaining coverage and liability for incurred claims that apply the general model in accordance with IFRS. The interest rate risk exposure as of December 31, 2025 is as follows:

38.11.8.1 Status of interest rate risk exposure of insurance contract

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Net insurance contract liabilities | W | 23933054 | W | 24291340 |
|  Net insurance contract liabilities with participation features |  | 3501385 |  | 3649339 |
|  Net insurance contract liabilities without participation features |  | 20431669 |  | 20642001 |
|  Net reinsurance contract assets |  | 1385696 |  | 1382244 |
|  Net liabilities effect | W | 22547358 | W | 22909096 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.11.8.2 Interest rate Sensitivities

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Equity** | **Equity** | **Equity** | **Equity** |
|  | **1% increase** | **1% increase** | **1% decrease** | **1% decrease** |
|  Net insurance contract liabilities | W | 3016754 | W | (3791246) |
|  Net insurance contract liabilities with participation features |  | (245) |  | (12307) |
|  Net insurance contract liabilities without participation features |  | 3016999 |  | (3778939) |
|  Net reinsurance contract assets |  | (31957) |  | 37610 |
|  Net effect on equity | W | 2984797 | W | (3753636) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Equity** | **Equity** | **Equity** | **Equity** |
|  | **1% increase** | **1% increase** | **1% decrease** | **1% decrease** |
|  Net insurance contract liabilities | W | 2883974 | W | (3493031) |
|  Net insurance contract liabilities with participation features |  | 4728 |  | (38055) |
|  Net insurance contract liabilities without participation features |  | 2879246 |  | (3454976) |
|  Net reinsurance contract assets |  | (47015) |  | 55147 |
|  Net effect on equity | W | 2836959 | W | (3437884) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12 Risk Management of KB Life Insurance Co., Ltd.

38.12.1 Overview of insurance risk

Insurance risk arises from the core activities of an insurance company, particularly the underwriting of insurance contracts and the payment of claims, which may result in greater losses than the Group has anticipated.

The Group manages potential economic loss risks arising from various risk factors associated with life insurance contracts. These risks are categorized into six subcategories: mortality risk, longevity risk, disability/illness risk, termination risk, expense risk, and catastrophic risk. The Group measures these risks individually.

Except for catastrophic risk, which is assessed using a risk coefficient method, all other types of risks are evaluated using shock scenario methods. The definitions of each risks are as follows:

---

| | |
|:---|:---|
| Mortality Risk | Risk of unexpected losses due to premature death compared to the insured's expectations. |
| Longevity Risk | Risk of unexpected losses due to delayed death compared to the insured's expectations. |
| Disability/Illness Risk | Risk of unexpected losses related to the insured's disability and illness. |
| Termination Risk | Risk of losses due to unexpected exercise of legal rights or contractual options by policyholders. |
| Expense Risk | Risk of losses due to fluctuations in future costs and expenditure variations caused by inflation in relation to insurance contract costs. |
| Catastrophic Risk | Risk of extreme, exceptional losses (e.g., epidemics, major accidents) not considered in mortality risk, etc. |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.2 Management of insurance risk

The Group measures and manages insurance risk in accordance with internally developed models and the K-Insurance Capital Standard (K-ICS).

Insurance risks, excluding catastrophic risk, are managed under K-ICS, as well as being managed under IFRS 17 through sensitivity analysis.

In addition, the Group considers insurance risks inherent in insurance products during the product development stage and continues to measure and mitigate such risks through various methods after the product launch. Risks related to mortality and illness are mitigated through reinsurance. The Group selects appropriate reinsurers based on credit risk assessment and also determines the appropriate level of risk exposure for each reinsurer before making contract with reinsurers. For amounts exceeding pre-determined risk limits, the Group manages risk through facultative reinsurance.

38.12.3 Exposure by risk type

38.12.3.1 Insurance risk exposure

The Group sells life insurance products including death, health, pension, asset-linked, and variable contracts. Along with the sale of various products, the Group also diversifies risk through reinsurance cessions.

Insurance risk exposure of insurance contracts and reinsurance contracts as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Exposure** | **Exposure** | **Exposure** | **Exposure** |
|  | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Insurance contract liabilities | W | 24727079 | W | 23706824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Death |  | 11645736 |  | 11313508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health |  | 225999 |  | 302911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension |  | 7041563 |  | 6682897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-linked |  | 34658 |  | 38021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable death |  | 2077480 |  | 1854208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable pension |  | 3701643 |  | 3515279 |
|  Reinsurance contract assets <sup>1</sup> |  | (68418) |  | (40641) |
|  Death |  | (37619) |  | (29579) |
|  Health |  | (17175) |  | (10078) |
|  Compound |  | (13624) |  | (984) |

---

<sup>1</sup> Reinsurance contract assets is the net amount after deducting reinsurance contract liabilities 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.3.2 Interest rate risk exposure

Interest rate risk exposure of insurance contracts and reinsurance contracts as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Exposure** | **Exposure** | **Exposure** | **Exposure** |
|  | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Insurance contracts | W | 24727079 | W | 23706824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed-rate |  | 13571048 |  | 13080288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest rate-linked |  | 5376908 |  | 5257050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable |  | 5779123 |  | 5369486 |
|  Reinsurance contract assets <sup>1</sup> |  | (68418) |  | (40641) |

---

<sup>1</sup> Reinsurance contract assets is the net amount after deducting reinsurance contract liabilities 

38.12.3.3 Equity risk exposure

Equity risk exposure of insurance contracts and reinsurance contracts as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Exposure** | **Exposure** | **Exposure** | **Exposure** |
|  | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Variable | W | 5779123 | W | 5369486 |

---

38.12.3.4 Foreign exchange risk exposure

Foreign exchange risk exposure of insurance contracts and reinsurance contracts as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Exposure** | **Exposure** | **Exposure** | **Exposure** |
|  | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Foreign currency liability | W | 706795 | W | 707517 |

---

38.12.3.5 Credit risk exposure

Credit risk exposure of reinsurance contracts assets and liabilities as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | AAA~AA+ | AAA~AA+ | AA~A+ | AA~A+ | A~BBB+ | Under BBB | Unrated | Total | Total |
|  Reinsurance contract assets | W |  | W | 8672 | W | W | W | W | 8672 |
|  Reinsurance contract liabilities |  | (13276) |  | (20818) |  |  |  |  | (34094) |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.3.5 Credit risk exposure (cont'd)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | AAA~AA+ | AAA~AA+ | AA~A+ | AA~A+ | A~BBB+ | A~BBB+ | Under BBB | Unrated | Total | Total |
|  Reinsurance contract assets | W |  | W | 2401 | W | 122 | W | W | W | 2523 |
|  Reinsurance contract liabilities |  | (14083) |  | (15851) |  | (4353) |  |  |  | (34287) |

---

38.12.4 Reinsurance policy

38.12.4.1 Summary

The purpose of reinsurance transactions is to ensure the Group's ability to fulfill insurance claim obligations to policyholders and maintain the stability of the Group's financial structure by ceding contracts that require diversification or risk transfer which could arise from the underwriting of insurance contracts. The Group adheres to the fundamental principle of operating an efficient and stable reinsurance framework by considering the scale of reinsurance transactions, the complexity of reinsurance products, risk exposure levels, profitability, and the credit ratings of reinsurers.

Based on insurance premium, since most of the retained contracts are concentrated in guarantee-type life insurance products, the Group manages insurance risk by securing reinsurance for life insurance policies exceeding a certain coverage amount. Additionally, reinsurance transactions are made when risk mitigation is deemed necessary for specific products or coverages. The Group currently holds contracts with eight reinsurers, and in addition to life insurance, risk for health insurance products such as cancer insurance are mitigated through reinsurance.

As of December 31, 2025, the eight reinsurers contracted by the Group hold credit ratings of AA- or higher, based on the criteria outlined in Annex 22 of the Korean DETAILED REGULATIONS ON SUPERVISION OF INSURANCE BUSINESS, indicating a stable financial position.

38.12.4.2 Concentration on top 5 reinsurers

the status of concentration among the top five reinsurers as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **<sup>1</sup>** | Above AA- | A+ ~ A- | Below BBB+ | Others |
|  Reinsurance premiums <sup>3</sup> | W18,568 | W— | W— | W— |
|  Ratio <sup>2</sup> | 92.2 |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| **<sup>1</sup>** | Above AA- | A+ ~ A- | Below BBB+ | Others |
|  Reinsurance premiums <sup>3</sup> | W16,955 | W— | W— | W— |
|  Ratio <sup>2</sup> | 91.7 |  |  |  |

---

<sup>1</sup> Credit ratings from foreign credit rating agencies are converted to domestic credit ratings based on the criteria outlined in Annex 22 of the Korean DETAILED REGULATIONS ON SUPERVISION OF INSURANCE BUSINESS.

<sup>2</sup> The proportion of ceded insurance premiums represents the percentage relative to total insurance premiums. 

<sup>3</sup> The amounts are presented on a gross basis before deduction of reinsurance commissions. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.4.3 Reinsurance premium by reinsurer group

The status of reinsurance premiums by reinsurer group as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | Credit ratings | Credit ratings | Credit ratings | Credit ratings | Credit ratings | Credit ratings | Credit ratings |
|  | Above AA- | Above AA- | A+ ~ A- | BBB+ Below | Others\* | Total | Total |
|  Reinsurance premiums <sup>1</sup> | W | 20128 | W | W | W | W | 20128 |
|  Ratio |  | 100.0 |  |  |  |  | 100.0 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | Credit ratings | Credit ratings | Credit ratings | Credit ratings | Credit ratings | Credit ratings | Credit ratings |
|  | Above AA- | Above AA- | A+ ~ A- | BBB+ Below | Others\* | Total | Total |
|  Reinsurance premiums <sup>1</sup> | W | 18497 | W | W | W | W | 18497 |
|  Ratio |  | 100.0 |  |  |  |  | 100.0 |

---

<sup>1</sup> The amounts are presented on a gross basis before deduction of reinsurance commissions. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.5 Liquidity risk of insurance contracts

Liquidity risk in insurance contracts arises from the increase in maturity refunds due to the concentration of insurance contract maturities at a certain point in time, the excessive increase in surrender refunds due to unexpected mass surrenders, and the increase in insurance payments due to large-scale accidents. Additionally, the Group manages the payment of maturity refunds through the analysis of the maturity of insurance contracts. The maturity structure of insurance liabilities based on net cash flow as of December 31, 2025 and 2024, are as follows.

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | 1 year | 1 year | 1 year ~<br>2 years | 1 year ~<br>2 years | 2 years ~<br>3 years | 2 years ~<br>3 years | 3 years ~<br>4 years | 3 years ~<br>4 years | 4 years ~<br>5 years | 4 years ~<br>5 years | 5 years ~<br>10 years | 5 years ~<br>10 years | 10 years ~<br>20 years | 10 years ~<br>20 years | Over 20 years | Over 20 years |
|  Insurance contract | W | 412314 | W | 238500 | W | 866967 | W | 954939 | W | 1120218 | W | 6130350 | W | 13123050 | W | 31922925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset portfolio |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liability portfolio |  | 412314 |  | 238500 |  | 866967 |  | 954939 |  | 1120218 |  | 6130350 |  | 13123050 |  | 31922925 |
|  Reinsurance contract |  | 9022 |  | 1649 |  | 752 |  | 1576 |  | 1439 |  | 10906 |  | 32999 |  | 129561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset portfolio |  | 2261 |  | 376 |  | (265) |  | 432 |  | 634 |  | 5109 |  | 10977 |  | 50736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liability portfolio |  | 6761 |  | 1273 |  | 1017 |  | 1144 |  | 805 |  | 5797 |  | 22022 |  | 78825 |

---

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | 1 year | 1 year | 1 year ~<br>2years | 1 year ~<br>2years | 2years ~<br>3years | 2years ~<br>3years | 3years ~<br>4years | 3years ~<br>4years | 4years ~<br>5years | 4years ~<br>5years | 5years ~<br>10years | 5years ~<br>10years | 10years ~<br>20years | 10years ~<br>20years | Over 20 years | Over 20 years |
|  Insurance contract | W | (53417) | W | (69388) | W | 305581 | W | 603797 | W | 1255863 | W | 4958494 | W | 11992714 | W | 35343913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset portfolio |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liability portfolio |  | (53417) |  | (69388) |  | 305581 |  | 603797 |  | 1255863 |  | 4958494 |  | 11992714 |  | 35343913 |
|  Reinsurance contract |  | 9278 |  | 1462 |  | 676 |  | 1678 |  | 1705 |  | 8170 |  | 16996 |  | 52162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset portfolio |  | 1445 |  | (121) |  | (555) |  | 42 |  | 108 |  | 224 |  | (163) |  | (351) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liability portfolio |  | 7833 |  | 1583 |  | 1231 |  | 1636 |  | 1597 |  | 7946 |  | 17159 |  | 52513 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.6 The amount payable upon demand

The Group's amount payable upon demand for insurance contracts as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | Amount payable<br>upon demand | Amount payable<br>upon demand | Book value | Book value | Amount payable<br>upon demand | Amount payable<br>upon demand | Book value | Book value |
|  Insurance contracts | W | 31384939 | W | 30275011 | W | 28595855 | W | 29100070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Death |  | 15622704 |  | 14902195 |  | 14296802 |  | 14593909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health |  | 833313 |  | 536887 |  | 766471 |  | 566979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension |  | 8066027 |  | 7591499 |  | 7255197 |  | 7281490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-linked |  | 37683 |  | 36523 |  | 40436 |  | 40232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable death |  | 2863686 |  | 3369460 |  | 2439175 |  | 2945814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable pension |  | 3961526 |  | 3838447 |  | 3797775 |  | 3671647 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.7 Assumption sensitivity

The Group manages insurance risk by performing sensitivity analysis based on loss ratio, expense ratio, discount rate, and others which are considered to have significant influence on future cash flow, timing, and uncertainty.

The result of sensitivity analysis as of December 31, 2025 and 2024, are as follows:

38.12.7.1 Insurance sensitivity

**Before reinsurance mitigation:** 

*(In millions of Korean won)* 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Sensitivity <sup>1</sup>** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  |  | **Sensitivity <sup>1</sup>** | **Baseline amount** | **Baseline amount** | **Change amount** | **Change amount** | **Impact on profit and<br>equity (before tax)** | **Impact on profit and<br>equity (before tax)** |
|  |  | **Sensitivity <sup>1</sup>** | **Fulfillment** | **Insurance** | **Fulfillment** | **Insurance** | **Profit or<br>loss <sup>2</sup>** | **OCI** |
|  |  | **Sensitivity <sup>1</sup>** | **Cash flows** | **CSM** | **Cash flow <sup>3</sup>** | **CSM** | **Profit or<br>loss <sup>2</sup>** | **OCI** |
|  Loss rate | Mortality rate | Increase by 3.27% | 24727079 | 5330899 | 96436 | (92643) | (987) | (2806) |
|  | Disability/illness<br> (fixed benefit) | Increase by 3.40% |  |  | 107696 | (113961) | (1539) | 7805 |
|  | Disability/illness (indemnity benefit) | Increase by 2.62% |  |  |  |  |  |  |
|  | Long-term property/other risks | Increase by 4.19% |  |  |  |  |  |  |
|  Lapse rate | Lapse rate<br> (increase) | Increase by 9.16% |  |  | 420275 | (287951) | (36064) | (96261) |
|  | Lapse rate<br> (decrease) | Decrease by 9.16% |  |  | (474860) | 350995 | 21691 | 102174 |
|  Expense ratio | Expense ratio<br> (level) | Increase by 2.62% |  |  | 84853 | (88286) | (4850) | 8282 |
|  | Expense ratio (inflation) | 0.26%p |  |  |  |  |  |  |

---

<sup>1</sup> The sensitivity analysis is on liability for remaining coverage of insurance, and the shock levels of actuarial assumptions are based on supervisory criteria for calculating the risk adjustment (confidence level of 75%). 

<sup>2</sup> The impact on profit or loss represents the increase in the best estimate liability that exceeds the carrying amount of the contractual service margin due to changes in assumptions. 

<sup>3</sup> No shocks were applied to the risk adjustment within the fulfillment cash flows.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.7.1 Insurance sensitivity (cont'd)

**After reinsurance mitigation:** 

*(In millions of Korean won)* 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  |  | | **Baseline amount** | **Baseline amount** | **Change amount** | **Change amount** | **Impact on profit and<br>equity (before tax)** | **Impact on profit and<br>equity (before tax)** |
|  |  | | **Fulfillment** | **Insurance** | **Fulfillment** | **Insurance** | **Profit or<br>loss <sup>2</sup>** | **OCI** |
|  |  | <br>**Sensitivity <sup>1</sup>** | **Cash flows** | **CSM** | **Cash flow <sup>3</sup>** | **CSM** | **Profit or<br>loss <sup>2</sup>** | **OCI** |
|  Loss rate | Mortality rate | Increase by 3.27% | 24795497 | 5291953 | 92581 | (88513) | (847) | (3221) |
|  | Disability/illness<br> (fixed benefit) | Increase by 3.40% |  |  | 105964 | (112468) | (1016) | 7520 |
|  | Disability/illness (indemnity benefit) | Increase by 2.62% |  |  |  |  |  |  |
|  | Long-term property/other risks | Increase by 4.19% |  |  |  |  |  |  |
|  Lapse rate | Lapse rate<br> (increase) | Increase by 9.16% |  |  | 414086 | (281288) | (35125) | (97673) |
|  | Lapse rate<br> (decrease) | Decrease by 9.16% |  |  | (467856) | 343030 | 21037 | 103789 |
|  Expense ratio | Expense ratio<br> (level) | Increase by 2.62% |  |  | 84843 | (88589) | (4534) | 8280 |
|  | Expense ratio (inflation) | 0.26%p |  |  |  |  |  |  |

---

<sup>1</sup> The sensitivity analysis is on liability for remaining coverage of insurance, and the shock levels of actuarial assumptions are based on supervisory criteria for calculating the risk adjustment (confidence level of 75%). 

<sup>2</sup> The impact on profit or loss represents the increase in the best estimate liability that exceeds the carrying amount of the contractual service margin due to changes in assumptions. 

<sup>3</sup> No shocks were applied to the risk adjustment within the fulfillment cash flows.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.7.1 Insurance sensitivity (cont'd)

**Before reinsurance mitigation:** 

*(In millions of Korean won)* 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  |  | **Sensitivity <sup>1</sup>** | **Baseline amount** | **Baseline amount** | **Change amount** | **Change amount** | **Impact on profit and<br>equity (before tax)** | **Impact on profit and<br>equity (before tax)** |
|  |  | **Sensitivity <sup>1</sup>** | **Fulfillment** | **Insurance** | **Fulfillment** | **Insurance** | **Profit or<br>loss <sup>2</sup>** | **OCI** |
|  |  | **Sensitivity <sup>1</sup>** | **Cash flows** | **CSM** | **Cash flow <sup>3</sup>** | **CSM** | **Profit or<br>loss <sup>2</sup>** | **OCI** |
|  Loss rate | Mortality rate | Increase by 3.27% | 23706824 | 5143498 | 106984 | (97865) | (589) | (8530) |
|  | Disability/illness<br> (fixed benefit) | Increase by 3.40% |  |  | 102301 | (105373) | (1108) | 4180 |
|  | Disability/illness (indemnity benefit) | Increase by 2.62% |  |  | 531 | (529) | (3) | 1 |
|  | Long-term property/other risks | Increase by 4.19% |  |  |  |  |  |  |
|  Lapse rate | Lapse rate<br> (increase) | Increase by 9.16% |  |  | 362584 | (268566) | (20353) | (73665) |
|  | Lapse rate<br> (decrease) | Decrease by 9.16% |  |  | (412005) | 314825 | 17415 | 79765 |
|  Expense ratio | Expense ratio<br> (level) | Increase by 2.62% |  |  | 92193 | (92815) | (4889) | 5511 |
|  | Expense ratio (inflation) | 0.26%p |  |  |  |  |  |  |

---

<sup>1</sup> The sensitivity analysis is on liability for remaining coverage of insurance, and the shock levels of actuarial assumptions are based on supervisory criteria for calculating the risk adjustment (confidence level of 75%). 

<sup>2</sup> The impact on profit or loss represents the increase in the best estimate liability that exceeds the carrying amount of the contractual service margin due to changes in assumptions. 

<sup>3</sup> No shocks were applied to the risk adjustment within the fulfillment cash flows.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**After reinsurance mitigation:** 

*(In millions of Korean won)* 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  |  | | **Baseline amount** | **Baseline amount** | **Change amount** | **Change amount** | **Impact on profit and<br>equity (before tax)** | **Impact on profit and<br>equity (before tax)** |
|  |  | | **Fulfillment** | **Insurance** | **Fulfillment** | **Insurance** | **Profit or<br>loss <sup>3</sup>** | **OCI** |
|  |  | <br>**Sensitivity <sup>1</sup>** | **Cash flows** | **CSM** | **Cash flow <sup>2</sup>** | **CSM** | **Profit or<br>loss <sup>3</sup>** | **OCI** |
|  Loss rate | Mortality rate | Increase by 3.27% | 23747465 | 5139655 | 105168 | (95875) | (545) | (8748) |
|  | Disability/illness<br> (fixed benefit) | Increase by 3.40% |  |  | 101554 | (104644) | (1038) | 4128 |
|  | Disability/illness (indemnity benefit) | Increase by 2.62% |  |  | 511 | (508) | (3) |  |
|  | Long-term property/other risks | Increase by 4.19% |  |  |  |  |  |  |
|  Lapse rate | Lapse rate<br> (increase) | Increase by 9.16% |  |  | 360412 | (266198) | (20196) | (74018) |
|  | Lapse rate<br> (decrease) | Decrease by 9.16% |  |  | (409644) | 312241 | 17266 | 80137 |
|  Expense ratio | Expense ratio<br> (level) | Increase by 2.62% |  |  | 92186 | (92864) | (4832) | 5510 |
|  | Expense ratio (inflation) | 0.26%p |  |  |  |  |  |  |

---

<sup>1</sup> The sensitivity analysis is on liability for remaining coverage of insurance, and the shock levels of actuarial assumptions are based on supervisory criteria for calculating the risk adjustment (confidence level of 75%). 

<sup>2</sup> The impact on profit or loss represents the increase in the best estimate liability that exceeds the carrying amount of the contractual service margin due to changes in assumptions. 

<sup>3</sup> No shocks were applied to the risk adjustment within the fulfillment cash flows.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.7.2 Interest rate risk

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  |  | **Profit or loss**<br>**(before tax)** | **Profit or loss**<br>**(before tax)** | **OCI**<br>**(before tax)** | **OCI**<br>**(before tax)** |
|  100bp increase | Insurance contracts | W | 203182 | W | 2796438 |
|  100bp increase | Reinsurance contracts |  | 6 |  | 12520 |
|  100bp decrease | Insurance contracts |  | (230613) |  | (3410414) |
|  100bp decrease | Reinsurance contracts |  | 213 |  | (15470) |
| *(In millions of Korean won)* |  |  |  |  |  |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  |  | **Profit or loss**<br>**(before tax)** | **Profit or loss**<br>**(before tax)** | **OCI**<br>**(before tax)** | **OCI**<br>**(before tax)** |
|  100bp increase | Insurance contracts | W | 220772 | W | 3062364 |
|  100bp increase | Reinsurance contracts |  | (149) |  | 6480 |
|  100bp decrease | Insurance contracts |  | (575881) |  | (4227958) |
|  100bp decrease | Reinsurance contracts |  | 254 |  | (8498) |

---

<sup>1</sup> For insurance contracts (original insurance and accepted reinsurance) and reinsurance contracts, the impacts are on liability for remaining coverage.

<sup>2</sup> No shocks were applied to the risk adjustment within the fulfillment cash flows.

38.12.7.3 Foreign exchange rate risk

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  |  | **Profit or loss**<br>**(before tax)** | **Profit or loss**<br>**(before tax)** | **OCI**<br>**(before tax)** | **OCI**<br>**(before tax)** |
|  100won increase | Insurance contracts | W | (58895) | W | 11959 |
|  100won increase | Reinsurance contracts |  | (24) |  | 5 |
|  100won decrease | Insurance contracts |  | 58895 |  | (11959) |
|  100won decrease | Reinsurance contracts |  | 24 |  | (5) |
| *(In millions of Korean won)* |  |  |  |  |  |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  |  | **Profit or loss**<br>**(before tax)** | **Profit or loss**<br>**(before tax)** | **OCI**<br> **(before tax)** | **OCI**<br> **(before tax)** |
|  100won increase | Insurance contracts | W | (61733) | W | 14977 |
|  100won increase | Reinsurance contracts |  | (35) |  | 7 |
|  100won decrease | Insurance contracts |  | 61733 |  | (14977) |
|  100won decrease | Reinsurance contracts |  | 35 |  | (7) |

---

<sup>1</sup> For insurance contracts (original insurance and accepted reinsurance) and reinsurance contracts, the impacts are on liability for remaining coverage.

<sup>2</sup> No shocks were applied to the risk adjustment within the fulfillment cash flows.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.7.4 Stock price risk

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  |  | **Profit or loss**<br>**(before tax)** | **Profit or loss**<br>**(before tax)** | **OCI**<br>**(before tax)** |
|  10% increase | Insurance contracts | W | (223814) | W |
|  10% increase | Reinsurance contracts |  |  |  |
|  10% decrease | Insurance contracts |  | 223814 |  |
|  10% decrease | Reinsurance contracts |  |  |  |
| *(In millions of Korean won)* |  |  |  |  |
| **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  |  | **Profit or loss**<br>**(before tax)** | **Profit or loss**<br>**(before tax)** | **OCI**<br> **(before tax)** |
|  10% increase | Insurance contracts | W | (157555) | W |
|  10% increase | Reinsurance contracts |  | 88 |  |
|  10% decrease | Insurance contracts |  | 155996 |  |
|  10% decrease | Reinsurance contracts |  | (89) |  |

---

<sup>1</sup> For insurance contracts (original insurance and accepted reinsurance) and reinsurance contracts, the impacts are on liability for remaining coverage.

<sup>2</sup> No shocks were applied to the risk adjustment within the fulfillment cash flows.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

38.12.8 Claims development tables

Claims development tables of the Group as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **2025** | **2025** | **Total** | **Total** |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Estimated final loss undiscounted** | W | 203759 | W | 212391 | W | 214611 | W | 235653 | W | 247894 | W |  |
|  Claims paid |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current year |  | (161464) |  | (167992) |  | (166118) |  | (184435) |  | (196574) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After 1 year |  | (29553) |  | (31371) |  | (34912) |  | (37470) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After 2 years |  | (5152) |  | (4313) |  | (5067) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After 3 years |  | (2269) |  | (3177) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After 4 years |  | (1873) |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (200311) | W | (206853) | W | (206097) | W | (221905) | W | (196574) | W |  |
|  Difference between estimated final loss and claim payments. |  | 3448 |  | 5538 |  | 8514 |  | 13748 |  | 51320 |  | 82568 |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  | (4233) |
|  Future claims expense |  |  |  |  |  |  |  |  |  |  |  | 1135 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  | 178649 |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  | 11365 |
|  Reinsurance effects \* |  |  |  |  |  |  |  |  |  |  |  | (8997) |
|  **Total Liability for incurred claims** | W |  | W |  | W |  | W |  | W |  | W | 260487 |
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** | **Accident year** |
|  | **2020** | **2020** | **2021** | **2021** | **2022** | **2022** | **2023** | **2023** | **2024** | **2024** | **Total** | **Total** |
|  **Development year** |  |  |  |  |  |  |  |  |  |  |  |  |
|  **Estimated final loss undiscounted** | W | 179051 | W | 203001 | W | 210219 | W | 213227 | W | 229657 | W |  |
|  Claims paid |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current year |  | (139994) |  | (161496) |  | (168229) |  | (165924) |  | (185249) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After 1 year |  | (27947) |  | (29568) |  | (30338) |  | (35275) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After 2 years |  | (4061) |  | (5152) |  | (4877) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After 3 years |  | (2158) |  | (2375) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; After 4 years |  | (1796) |  |  |  |  |  |  |  |  |  |  |
|  Total gross cumulative claim payments | W | (175956) | W | (198591) | W | (203444) | W | (201199) | W | (185249) | W |  |
|  Difference between estimated final loss and claim payments. |  | 3095 |  | 4410 |  | 6775 |  | 12028 |  | 44408 |  | 70716 |
|  Discount rate effect |  |  |  |  |  |  |  |  |  |  |  | (3471) |
|  Future claims expense |  |  |  |  |  |  |  |  |  |  |  | 843 |
|  Incurred claims settled but not yet paid |  |  |  |  |  |  |  |  |  |  |  | 164482 |
|  Risk adjustment |  |  |  |  |  |  |  |  |  |  |  | 10088 |
|  Reinsurance effects \* |  |  |  |  |  |  |  |  |  |  |  | (9879) |
|  **Total Liability for incurred claims** | W |  | W |  | W |  | W |  | W |  | W | 232779 |

---

\* The reinsurance effect is presented as a total amount. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**39. Statement of Cash Flows** 

39.1 Details of cash and cash equivalents as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Cash | W | 2074714 | W | 1954624 |
|  Checks issued by other banks |  | 134454 |  | 124366 |
|  Due from the Bank of Korea |  | 17332054 |  | 14372352 |
|  Due from other financial institutions |  | 15235655 |  | 13417769 |
|  Disposal group held for sale <sup>1</sup> |  | 5858 |  |  |
|  |  | 34782735 |  | 29869111 |
|  Due from financial institutions measured at fair value through profit or loss |  | 64437 |  | 59838 |
|  |  | 34847172 |  | 29928949 |
|  Deduction: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restricted due from financial institutions <sup>2</sup> |  | (4843682) |  | (4338818) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions with original maturities over three months |  | (982926) |  | (981264) |
|  |  | (5826608) |  | (5320082) |
|  | W | 29020564 | W | 24608867 |

---

<sup>1</sup> The cash and deposits classified as a disposal group held for sale as of December 31, 2025 are included, as described in Note 18

<sup>2</sup> Items meeting the definition of cash are excluded.

Items meeting the definition of cash among due from financial institutions with restriction to use as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **Financial institutions** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Due from financial institutions in Korean won | Due from the Bank of Korea | The Bank of Korea | W | 13939438 | W | 11635481 |
|  | Due from others | Korea Development Bank and others |  | 27555 |  | 25928 |
|  Due from financial institutions in foreign currencies | Due from banks in foreign currencies | Bank Indonesia and others |  | 3367183 |  | 2540681 |
|  |  |  | W | 17334176 | W | 14202090 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

39.2 Significant non-cash transactions for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Write-offs of loans | W | 2308709 | W | 1984218 |
|  Changes in accumulated other comprehensive income from valuation of financial instruments at fair value through other comprehensive income |  | (1877833) |  | 1216436 |
|  Changes in accumulated other comprehensive income from valuation of investments in associates |  | 2018 |  | 165 |

---

39.3 Cash inflows and outflows from income tax, interest, and dividends for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Activities** | **2025** | **2025** | **2024** | **2024** |
|  Income tax paid | Operating | W | 1171542 | W | 1158212 |
|  Interest received | Operating |  | 29151695 |  | 30279240 |
|  Interest paid | Operating |  | 14044238 |  | 15354968 |
|  Dividends received | Operating |  | 610307 |  | 482012 |
|  Dividends paid | Financing |  | 1504682 |  | 1686777 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

39.4 Changes in liabilities arising from financing activities for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | | | | | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | | |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Net cash flows** | **Net cash flows** | **Acquisition<br>(disposal)** | **Acquisition<br>(disposal)** | **Exchange<br>differences** | **Exchange<br>differences** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** | **Subsidiaries** | **Subsidiaries** | **Others** | **Others** | **Ending** | **Ending** |
|  Derivatives held for hedging \* | W | (361855) | W | (276837) | W |  | W | (24485) | W | (58683) | W |  | W | 961561 | W | 239701 |
|  Borrowings and debentures |  | 144248269 |  | 7603382 |  |  |  | (534276) |  | 21484 |  | (269727) |  | (291467) |  | 150777665 |
|  Due to trust accounts |  | 8232002 |  | 2905896 |  |  |  |  |  |  |  |  |  |  |  | 11137898 |
|  Others |  | 1548635 |  | (620139) |  | 136693 |  |  |  |  |  |  |  | 133240 |  | 1198429 |
|  | W | 153667051 | W | 9612302 | W | 136693 | W | (558761) | W | (37199) | W | (269727) | W | 803334 | W | 163353693 |
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  |  |  |  |  | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** | **Non-cash changes** |  |  |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Net cash flows** | **Net cash flows** | **Acquisition<br>(disposal)** | **Acquisition<br>(disposal)** | **Exchange<br>differences** | **Exchange<br>differences** | **Changes in**<br>**fair value** | **Changes in**<br>**fair value** | **Subsidiaries** | **Subsidiaries** | **Others** | **Others** | **Ending** | **Ending** |
|  Derivatives held for hedging \* | W | (93003) | W | (216883) | W |  | W | (238486) | W | (128072) | W |  | W | 314589 | W | (361855) |
|  Borrowings and debentures |  | 138760229 |  | 825087 |  |  |  | 4045394 |  | 39945 |  | (22909) |  | 600523 |  | 144248269 |
|  Due to trust accounts |  | 8142102 |  | 89900 |  |  |  |  |  |  |  |  |  |  |  | 8232002 |
|  Others |  | 1149587 |  | (339514) |  | 630785 |  |  |  |  |  |  |  | 107777 |  | 1548635 |
|  | W | 147958915 | W | 358590 | W | 630785 | W | 3806908 | W | (88127) | W | (22909) | W | 1022889 | W | 153667051 |

---

\* Derivatives held for hedging purposes are the net amount after offsetting liabilities and assets. 

39.5 The net cash flow associated with the changes in the subsidiaries for the years ended December 31, 2025 and 2024 are W264,868 million of cash outflow and W88,528 million of cash inflow, respectively.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**40. Contingent Liabilities and Commitments** 

40.1 Details of acceptances and guarantees as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  **Confirmed acceptances and guarantees** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Confirmed acceptances and guarantees in Korean won: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acceptances and guarantees for KB purchasing loan | W | 110728 | W | 152129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 1028783 |  | 900237 |
|  |  | 1139511 |  | 1052366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Confirmed acceptances and guarantees in foreign currencies: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acceptances of letter of credit |  | 215808 |  | 331423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Letter of guarantees |  | 76496 |  | 45274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bid bond |  | 2253 |  | 12782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Performance bond |  | 2039924 |  | 1927572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refund guarantees |  | 3277694 |  | 4644429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 4787138 |  | 4594667 |
|  |  | 10399313 |  | 11556147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial guarantee contracts: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acceptances and guarantees for mortgage |  | 19673 |  | 20790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Overseas debt guarantees |  | 406900 |  | 588019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International financing guarantees in foreign currencies |  | 1138481 |  | 842838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial guarantees |  | 263823 |  |  |
|  |  | 1828877 |  | 1451647 |
|  |  | 13367701 |  | 14060160 |
|  **Unconfirmed acceptances and guarantees** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guarantees of letter of credit |  | 2537195 |  | 2268081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Refund guarantees |  | 1427424 |  | 1373649 |
|  |  | 3964619 |  | 3641730 |
|  | W | 17332320 | W | 17701890 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

40.2 Credit qualities of acceptances and guarantees as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** | **Total** | **Total** |
|  **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 11052820 | W | 201686 | W |  | W | 11254506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 1914728 |  | 35378 |  |  |  | 1950106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 105144 |  | 16615 |  | 180 |  | 121939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 10207 |  | 5410 |  | 503 |  | 16120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  | 8404 |  | 3674 |  | 12952 |  | 25030 |
|  |  | 13091303 |  | 262763 |  | 13635 |  | 13367701 |
|  **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 |  | 3509754 |  | 4180 |  |  |  | 3513934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 403592 |  | 20047 |  |  |  | 423639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 4526 |  | 12319 |  |  |  | 16845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 794 |  | 7809 |  | 20 |  | 8623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  | 404 |  | 1174 |  | 1578 |
|  |  | 3918666 |  | 44759 |  | 1194 |  | 3964619 |
|  | W | 17009969 | W | 307522 | W | 14829 | W | 17332320 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Non-impaired** | **Impaired** | **Impaired** | **Total** | **Total** |
|  **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** | **Confirmed acceptances and guarantees** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 12022664 | W |  | W |  | W | 12022664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 1870438 |  | 23840 |  |  |  | 1894278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 98224 |  | 16147 |  |  |  | 114371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 8291 |  | 2975 |  | 457 |  | 11723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  | 230 |  | 16894 |  | 17124 |
|  |  | 13999617 |  | 43192 |  | 17351 |  | 14060160 |
|  **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** | **Unconfirmed acceptances and guarantees** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 |  | 2281647 |  | 2441 |  |  |  | 2284088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  | 1306932 |  | 15349 |  |  |  | 1322281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  | 13982 |  | 14781 |  |  |  | 28763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  | 1171 |  | 2652 |  | 21 |  | 3844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  | 175 |  | 2579 |  | 2754 |
|  |  | 3603732 |  | 35398 |  | 2600 |  | 3641730 |
|  | W | 17603349 | W | 78590 | W | 19951 | W | 17701890 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

40.3 Classifications of acceptances and guarantees by counterparty as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Confirmed<br>guarantees** | **Confirmed<br>guarantees** | **Unconfirmed<br>guarantees** | **Unconfirmed<br>guarantees** | **Total** | **Total** | **Proportion<br>(%)** |
|  Large companies | W | 12415691 | W | 3031523 | W | 15447214 | 89.12 |
|  Small and medium-sized companies |  | 813807 |  | 373420 |  | 1187227 | 6.85 |
|  Public sector and others |  | 138203 |  | 559676 |  | 697879 | 4.03 |
|  | W | 13367701 | W | 3964619 | W | 17332320 | 100.00 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Confirmed<br>guarantees** | **Confirmed<br>guarantees** | **Unconfirmed<br>guarantees** | **Unconfirmed<br>guarantees** | **Total** | **Total** | **Proportion<br>(%)** |
|  Large companies | W | 13215006 | W | 2972146 | W | 16187152 | 91.45 |
|  Small and medium-sized companies |  | 747170 |  | 423299 |  | 1170469 | 6.61 |
|  Public sector and others |  | 97984 |  | 246285 |  | 344269 | 1.94 |
|  | W | 14060160 | W | 3641730 | W | 17701890 | 100.00 |

---

40.4 Classifications of acceptances and guarantees by industry as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Confirmed<br>guarantees** | **Confirmed<br>guarantees** | **Unconfirmed<br>guarantees** | **Unconfirmed<br>guarantees** | **Total** | **Total** | **Proportion<br>(%)** |
|  Financial institutions | W | 1822127 | W | 1916 | W | 1824043 | 10.52 |
|  Manufacturing |  | 7730095 |  | 2790672 |  | 10520767 | 60.70 |
|  Service |  | 985539 |  | 92110 |  | 1077649 | 6.22 |
|  Wholesale and retail |  | 2111297 |  | 573783 |  | 2685080 | 15.49 |
|  Construction |  | 298186 |  | 28042 |  | 326228 | 1.88 |
|  Public sector |  | 25665 |  | 362831 |  | 388496 | 2.24 |
|  Others |  | 394792 |  | 115265 |  | 510057 | 2.94 |
|  | W | 13367701 | W | 3964619 | W | 17332320 | 100.00 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Confirmed<br>guarantees** | **Confirmed<br>guarantees** | **Unconfirmed<br>guarantees** | **Unconfirmed<br>guarantees** | **Total** | **Total** | **Proportion<br>(%)** |
|  Financial institutions | W | 1810426 | W | 1244 | W | 1811670 | 10.24 |
|  Manufacturing |  | 8139583 |  | 2709623 |  | 10849206 | 61.29 |
|  Service |  | 926446 |  | 48709 |  | 975155 | 5.51 |
|  Wholesale and retail |  | 2410725 |  | 594407 |  | 3005132 | 16.98 |
|  Construction |  | 334561 |  | 73389 |  | 407950 | 2.30 |
|  Public sector |  | 24929 |  | 101456 |  | 126385 | 0.71 |
|  Others |  | 413490 |  | 112902 |  | 526392 | 2.97 |
|  | W | 14060160 | W | 3641730 | W | 17701890 | 100.00 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

40.5 Details of commitments as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  **Commitments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate loan commitments | W | 56218691 | W | 57510280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retail loan commitments |  | 58406337 |  | 59100288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit line of credit cards |  | 89718829 |  | 87204864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchase of other securities |  | 9133299 |  | 8880563 |
|  |  | 213477156 |  | 212695995 |
|  **Financial guarantee contracts** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit line |  | 3689143 |  | 4747946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchase of securities |  | 1691300 |  | 475147 |
|  |  | 5380443 |  | 5223093 |
|  | W | 218857599 | W | 217919088 |

---

40.6 Other Matters (including litigation)

a) As of December 31, 2025, the Group involved in 123 legal cases as a plaintiff in connection with its operating activities (excluding simple cases related to loan recovery and administrative activities), with a total claim amount of W536,144 million. The Group also involved in 361 legal cases as a defendant (excluding simple cases related to loan recovery or administrative activities) with a total claim amount of W978,726 million. The amount of any additional losses that may arise, depending on the outcome of these proceedings, cannot be predicted at this time. Details of major pending lawsuits in which the Group is a defendant are as follows:

*(In number of cases, in millions of Korean won)* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Company** | **Lawsuits** | **No. of<br>cases** | **Amount** | **Description of the lawsuits** | **Status of the lawsuits** |
| Kookmin Bank | Request for a return of redemption amount | 1 | W60,281 | Kookmin Bank invested the assets entrusted by OO Invest Trust Management in the Fairfield Sentry Limited and Fairfield Sentry Limited reinvested the assets in Bernard L. Madoff Investment Securities LLC managed by Bernard Madoff. (Bernard L. Madoff Investment Securities LLC is in the liquidation process due to Ponzi scheme fraud-related losses.)<br>Bankruptcy trustee of Bernard L. Madoff Investment Securities LLC filed a lawsuit against Kookmin Bank seeking to return the amount of redemptions received by Kookmin Bank through Fairfield Sentry Limited. | Application for dismissal by the defendant has been denied, and further proceedings are scheduled. [Related litigation is pending at the New York Southern District Federal Bankruptcy Court (10-3777)]<br> The financial impact on Kookmin Bank is not significant because the likelihood of winning the lawsuit is high |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

40.6 Other Matters (including litigation) (cont'd)

*(In number of cases, in millions of Korean won)* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Company** | **Lawsuits** | **No. of<br>cases** | **Amount** | **Description of the lawsuits** | **Status of the lawsuits** |
| Kookmin Bank | Return of unjust enrichment | 1 | 156755 | As MTS Bank, which was trading with Kookmin Bank through a foreign exchange account, was listed on the SDN (Specifically Designated Nationals) list of the Office of Foreign Assets Control (OFAC) under the U.S. Treasury Department, Kookmin Bank froze the foreign currency account in the name of MTS Bank.<br>Accordingly, MTS Bank filed a lawsuit seeking the return of the account balance to the Moscow City Commercial Court in Russia | - Responding in accordance with the schedule of the local court proceedings (following the first-instance judgment rendered against the Bank on December 2, 2025, the Bank is currently responding to the appellate proceedings).<br>Due to compliance with U.S. OFAC regulations, it is difficult to predict the likelihood of success in the litigation being conducted before the Russian courts.<br>However, the amount in dispute can be covered by the balance in the plaintiff's account, and a financial impact equivalent to delayed interest is expected for the Bank. |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

40.6 Other Matters (including litigation) (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Company** | **Lawsuits** | **No. of<br>cases** | **Amount** | **Description of the lawsuits** | **Status of the lawsuits** |
| KB Securities Co., Ltd. | Request for the return of unjust enrichment and transaction amount (Australian fund) | 3 | 59927 | As an investment broker for a private fund that lends money to a corporation (borrower) investing in Australian disability apartment rental business, KB Securities Co., Ltd. brokered investments of W326,500 million in trust products and funds to individual and institutional investors. However, due to the local Australian borrower's breach of contract, the fund management was suspended, and related to this, a lawsuit was filed against KB Securities Co., Ltd. for the return of unjust enrichment and transaction amount. | No.1 case: The third trial is in progress (The first trial: On February 7, 2023, a ruling was made to pay the principal investment of W29,800 million and the delayed interest on it. The second trial: On January 29, 2024, the conclusion was different; a ruling was made to pay the principal investment of W12,000 million and the delayed interest on it.)<br>No. 2 case: The second trial is in progress (The first trial: On February 14, 2024, a ruling was made to pay the principal investment of W12,200 million and the delayed interest on it.)<br>No. 3 case: The third trial is in progress (The first trial: On October 26, 2023, a ruling was made to pay the remaining principal and interest of W8,460 million and the delayed interest on the principal of W8,290 million. The second trial: On January 16, 2025, a ruling was made ordering the return of W4,400 million, which represents a portion of the W8,070 million paid following the first-instance judgment.) |

---

Meanwhile, the Group has recognized a provision for litigation amounting to W142,090 million in the financial statements in relation to the pending lawsuit in which it is a defendant as of December 31, 2025 (Note 24.5).

b) As of December 31, 2025, there are a total of seven pending lawsuits related to the wage peak system, amounting to W12,551 million. This includes five cases for Kookmin Bank with a total claim amount of W12,175 million, one case for KB Life Insurance Co., Ltd. with a claim amount of W136 million, and one case for KB Asset Management Co., Ltd. with a claim amount of W240 million. The amount and timing of potential outflows of resources are currently unpredictable.

c) As of December 31, 2025, KB Real Estate Trust Co., Ltd. is undertaking 14 completion-guaranteed land trust projects (including Busan Kyungbo Industrial Development project), under which it assumes the obligations to complete construction of the contractor fails to fulfill its completion obligations, and is liable to compensate the lending financial institutions for any losses arising from any failure to fulfill such obligations.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

The total PF loan commitment limit related to these completion-guarantee land trust projects amounted to W1,240,200 million, of which W927,300 million represents outstanding balance (including unpaid interest) as of December 31, 2025. In connection with these projects, the Group recognized provisions totaling W4,200 million as of December 31, 2025 for the expected losses associated with trust-account exposures arising from the completion obligations. In addition, the Group recognized additional provisions totaling W140,100 million as of December 31, 2025 for the estimated losses related to potential liability for damages that may arise if the completion obligations are not fulfilled.

As of December 31, 2025, a total of 12 projects (all of which have been completed) remain where completion obligations were not fulfilled within the contractual period. The PF loan commitment limits for these projects amount to W1,090,100 million, and outstanding balance (including unpaid interest) amount to W851,900 million. Of these, eight completed projects are subject to ongoing litigation, involving a total of 11 legal cases with an aggregate claim amount of W251,700 million; the PF loan commitment limits and outstanding balance (including unpaid interest) for these projects amount to W716,600 million and W492,800 million, respectively.

d) During the year ended December 31, 2024, the Financial Supervisory Service conducted regular inspections covering the overall operations of the subsidiaries, Kookmin Bank and KB Life Insurance Co., Ltd., and during the year ended December 31, 2025, a regular inspection covering the overall operations of the subsidiary, KB Securities Co., Ltd., was conducted. As of December 31, 2025, the results of these inspections and any required corrective actions have not yet been notified and are expected to be communicated in the future.

e) Kookmin Bank and KB Securities Co., Ltd. are currently under investigation by the Fair-Trade Commission regarding alleged collusive conduct among financial institutions. The outcome of the investigation cannot be predicted at this time.

f) As of December 31, 2025, KB PRASAC BANK PLC. is currently undergoing a tax audit by the tax authorities. The outcome of the tax audit cannot be predicted at this time.

g) On April 7, 2023, Kookmin Bank entered into a share subscription right transfer agreement with STIC Eugene Star Holdings Inc. (hereinafter referred to as "STIC"), under which STIC agreed to acquire 31,900,000,000 newly issued shares at a price of IDR 3.19 trillion to be issued in a capital increase by PT Bank KB Indonesia Tbk, a subsidiary of Kookmin Bank.

As a result of the agreement, after STIC's acquisition of the shares, Kookmin Bank holds a call option to purchase the shares held by STIC for a six-month period commencing 2 years and 6 months after the acquisition date. If Kookmin Bank does not exercise the call option during the exercise period, STIC holds a put option to sell the shares to Kookmin Bank within one year following the expiration of the call option period.

h) As of December 31, 2025, KB Real Estate Trust Co., Ltd. may lend up to W4,475,500 million to trust accounts, which represents a portion of the total project cost related to borrowing-type land trust contracts (including maintenance and redevelopment projects). Whether KB Real Estate Trust Co., Ltd. provides such trust account loans does not constitute an unconditional payment obligation and is determined after comprehensively considering various factors, including the funding plan of its own accounts and the cash flow projections of the trust business.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

i) On July 1, 2025, Kookmin Bank entered into a share purchase agreement with a third party for the sale of its equity interest in its subsidiary, PT KB Bukopin Finance, and is currently in the process of carrying out the procedures necessary to complete the disposal. Upon completion of the transaction as planned, Kookmin Bank will lose control over PT KB Bukopin Finance.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**41. Subsidiaries** 

41.1 Details of major consolidated subsidiaries as of December 31, 2025, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor** | **Investee** | **Ownership<br>(%)** | **Location** | **Date of<br>financial<br>statements** | **Industry** |
| KB Financial Group Inc. | Kookmin Bank | 100.00 | Korea | Dec. 31 | Banking and foreign exchange transaction |
|  | KB Kookmin Card Co., Ltd. | 100.00 | Korea | Dec. 31 | Credit card and installment financing |
|  | KB Asset Management Co., Ltd. | 100.00 | Korea | Dec. 31 | Collective investment and advisory |
|  | KB Capital Co., Ltd. | 100.00 | Korea | Dec. 31 | Financial Leasing |
|  | KB Savings Bank Co., Ltd. | 100.00 | Korea | Dec. 31 | Savings banking |
|  | KB Real Estate Trust Co., Ltd. | 100.00 | Korea | Dec. 31 | Real estate trust management |
|  | KB Investment Co., Ltd. | 100.00 | Korea | Dec. 31 | Capital investment |
|  | KB Data System Co., Ltd. | 100.00 | Korea | Dec. 31 | Software advisory, development, and supply |
|  | KB Securities Co., Ltd. | 100.00 | Korea | Dec. 31 | Financial investment |
|  | KB Insurance Co., Ltd. | 100.00 | Korea | Dec. 31 | Non-life insurance |
|  | KB Life Insurance Co., Ltd. | 100.00 | Korea | Dec. 31 | Life insurance |
| Kookmin Bank | KB PRASAC Bank Plc. | 100.00 | Cambodia | Dec. 31 | Banking and foreign exchange transaction |
|  | Kookmin Bank (China) Ltd. | 100.00 | China | Dec. 31 | Banking and foreign exchange transaction |
|  | KB Microfinance Myanmar Co., Ltd. | 100.00 | Myanmar | Dec. 31 | Microfinance services |
|  | PT Bank KB Bukopin Syariah <sup>5</sup> | 95.92 | Indonesia | Dec. 31 | Banking |
|  | PT KB Bukopin Finance <sup>6 8</sup> | 99.24 | Indonesia | Dec. 31 | Installment financing |
|  | KB Bank Myanmar Co., Ltd. | 100.00 | Myanmar | Dec. 31 | Banking and foreign exchange transaction |
|  | KB FUND PARTNERS Co., Ltd. | 100.00 | Korea | Dec. 31 | Other unclassified financial services |
| Kookmin Bank, KB<br> Kookmin Card Co., Ltd.,<br> KB Securities Co., Ltd.,<br> KB Insurance Co., Ltd.,<br> KB Capital Co., Ltd. | PT Bank KB Indonesia,Tbk. <sup>7</sup> | 67.57 | Indonesia | Dec. 31 | Banking and foreign exchange transaction |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

41.1 Details of major consolidated subsidiaries as of December 31, 2025, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor** | **Investee** | **Ownership<br>(%)** | **Location** | **Date of<br>financial<br>statements** | **Industry** |
|  KB Securities Co., Ltd. | KBFG Securities America Inc. | 100.00 | United States | Dec. 31 | Investment advisory and securities trading |
|  | KB Securities Hong Kong Ltd. | 100.00 | China | Dec. 31 | Investment advisory and securities trading |
|  | KB Securities Vietnam Joint Stock Company | 99.81 | Vietnam | Dec. 31 | Investment advisory and securities trading |
|  | KB FINA COMPANY LIMITED <sup>4</sup> | 100.00 | Vietnam | Dec. 31 | Investment advisory and securities trading |
|  | PT KB VALBURY SEKURITAS | 65.00 | Indonesia | Dec. 31 | Investment advisory and securities trading |
|  KB Insurance Co., Ltd. | Leading Insurance Services, Inc. | 100.00 | United States | Dec. 31 | Management service |
|  | KBFG Insurance (China) Co., Ltd. | 100.00 | China | Dec. 31 | Non-life insurance |
|  | PT. KB Insurance Indonesia | 70.00 | Indonesia | Dec. 31 | Non-life insurance |
|  | KB Claims Survey & Adjusting | 100.00 | Korea | Dec. 31 | Claim service |
|  | KB Sonbo CNS | 100.00 | Korea | Dec. 31 | Management service |
|  | KB Healthcare Co., Ltd. | 100.00 | Korea | Dec. 31 | Information and communication |
|  KB Life Insurance Co., Ltd. | KB Life Partners Co., Ltd. | 100.00 | Korea | Dec. 31 | Insurance agent |
|  | KB Golden Life Care Co., Ltd. | 100.00 | Korea | Dec. 31 | Service |
|  KB Kookmin Card Co., Ltd. | KB Credit Information Co., Ltd. | 100.00 | Korea | Dec. 31 | Collection of receivables or credit investigation |
|  | KB Daehan Specialized Bank Plc. <sup>2</sup> | 97.50 | Cambodia | Dec. 31 | Auto Installment finance |
|  | PT. KB Finansia Multi Finance | 85.00 | Indonesia | Dec. 31 | Auto Installment finance |
|  | KB J Capital Co., Ltd. | 77.40 | Thailand | Dec. 31 | Service |
|  KB Capital Co., Ltd. | PT Sunindo Kookmin Best Finance | 85.00 | Indonesia | Dec. 31 | Auto Installment finance |
|  | KBFintech Inc. <sup>3</sup> | 95.95 | Korea | Dec. 31 | E-commerce |
|  KB Kookmin Card Co., Ltd. KB Capital Co., Ltd. | KB KOLAO Leasing Co., Ltd. | 80.00 | Laos | Dec. 31 | Auto Installment finance |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

41.1 Details of major consolidated subsidiaries as of December 31, 2025, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investor** | **Investee** | **Ownership<br>(%)** | **Location** | **Date of<br>financial<br>statements** | **Industry** |
|  Kookmin Bank, KB Data System Co., Ltd. | PT KB Data Systems Indonesia | 100.00 | Indonesia | Dec. 31 | Service |
|  KB Asset Management Co., Ltd. | KBAM Shanghai Advisory Services Co., Ltd. | 100.00 | China | Dec. 31 | General advisory |
|  | PT KB Valbury Asset Management <sup>1</sup> | 70.00 | Indonesia | Dec. 31 | Collective investment |
|  | KB Asset Management Singapore PTE. LTD. | 100.00 | Singapore | Dec. 31 | Collective investment |

---

<sup>1</sup> During the first quarter of 2024, PT Valbury Capital Management was changed from a sub-subsidiary of KB Securities Co., Ltd. to a subsidiary of KB Asset Management Co., Ltd., and its name was changed to PT KB Valbury Asset Management during the second quarter of 2024.

<sup>2</sup> KB DAEHAN SPECIALIZED BANK PLC. (merging entity) merged with i-Finance Leasing PLC. (merged entity) on December 19, 2024.

<sup>3</sup> On October 14, 2024, Teamwink Co., Ltd. changed its name to KB Fintech Co., Ltd.

<sup>4</sup> During the third quarter of 2025, KB FINA Joint Stock Company changed its name to KB FINA COMPANY LIMITED.

<sup>5</sup> During the third quarter of 2025, PT Bank Syariah Bukopin changed its name to PT Bank KB Bukopin Syariah.

<sup>6</sup> During the third quarter of 2025, PT Bukopin Finance changed its name to PT KB Bukopin Finance.

<sup>7</sup> During the third quarter of 2025, PT Bank KB Bukopin,Tbk. changed its name to PT Bank KB Indonesia,Tbk.

<sup>8</sup> The disposal group was classified as held for sale, as of December 31, 2025.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

41.2 Details of consolidated structured entities as of December 31, 2025, are as follows:

---

| | | |
|:---|:---|:---|
|  | **Consolidated structured**<br> **entities** | **Reasons for consolidation** |
| Trusts | Kookmin Bank (development trust) and 10 others | The Group controls the trust because it has power to determine management performance of the trust and is significantly exposed to variable returns that absorb losses through the guarantees of payment of principal, or payment of principal and fixed rate of return. |
| Asset-backed securitization | Taejon Samho The First Co., Ltd. and 82 others | The Group controls these investees because it has power over relevant activities in the event of default, is significantly exposed to variable returns by providing lines of credit, ABCP purchase commitments or acquisition of subordinated debt and has ability to affect those returns through its power. |
| Investment funds and others | KB Global Platform Fund No.2 and 237 others | Funds are consolidated if the Group, as a collective investor or operating manager (member), etc., can manage fund assets on behalf of other investors, or dismiss the collective investor and operating manager, and is substantially exposed to significant variable returns or has such rights. |

---

If the Group holds more than half of the ownership interests but does not have the power over relevant activities of structured entities in accordance with agreements with trust and other related parties, those structured entities are excluded from the consolidation.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

41.3 Condensed financial information of major subsidiaries as of and for the years ended December 31, 2025 and 2024, are as follows:

*(In millions of Korean won)* 

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Equity** | **Equity** | **Operating<br>revenue** | **Operating<br>revenue** | **Profit (loss)<br>attributable<br>to<br>shareholders<br>of the Parent<br>Company** | **Profit (loss)<br>attributable<br>to<br>shareholders<br>of the Parent<br>Company** | **Total compre-<br>hensive<br>income (loss)<br>attributable to<br>shareholders<br>of the Parent<br>Company** | **Total compre-<br>hensive<br>income (loss)<br>attributable to<br>shareholders<br>of the Parent<br>Company** |
|  Kookmin Bank <sup>1</sup> | W | 584934967 | W | 545979326 | W | 38955641 | W | 42528587 | W | 3852166 | W | 3636551 |
|  KB Securities Co., Ltd. <sup>1,2</sup> |  | 76461426 |  | 69572471 |  | 6888955 |  | 14139480 |  | 673856 |  | 670815 |
|  KB Insurance Co., Ltd. <sup>1,2</sup> |  | 45377597 |  | 39725458 |  | 5652139 |  | 13758177 |  | 778228 |  | 160977 |
|  KB Kookmin Card Co., Ltd.<sup>1</sup> |  | 30235710 |  | 24597933 |  | 5637777 |  | 4326397 |  | 330226 |  | 355777 |
|  KB Life Insurance Co., Ltd.<sup>1,2</sup> |  | 35585902 |  | 32795927 |  | 2789975 |  | 3402468 |  | 139329 |  | (20379) |
|  KB Asset Management Co., Ltd. <sup>1</sup> |  | 697405 |  | 302373 |  | 395032 |  | 325721 |  | 120203 |  | 121056 |
|  KB Capital Co., Ltd. <sup>1,2</sup> |  | 18163063 |  | 15483517 |  | 2679546 |  | 2714031 |  | 235219 |  | 246223 |
|  KB Real Estate Trust Co., Ltd. |  | 1124017 |  | 730006 |  | 394011 |  | 177039 |  | (78685) |  | (78296) |
|  KB Savings Bank Co., Ltd. |  | 2219824 |  | 2042573 |  | 177251 |  | 202415 |  | (4834) |  | (4950) |
|  KB Investment Co., Ltd. <sup>1</sup> |  | 1675994 |  | 1334136 |  | 341858 |  | 353212 |  | 57918 |  | 57917 |
|  KB Data System Co., Ltd. <sup>1</sup> |  | 85289 |  | 55304 |  | 29985 |  | 295401 |  | 7586 |  | 7930 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

41.3 Condensed financial information of major subsidiaries as of and for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

*(In millions of Korean won)* 

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Equity** | **Equity** | **Operating<br>revenue** | **Operating<br>revenue** | **Profit (loss)<br>attributable to<br>shareholders<br>of the Parent<br>Company** | **Profit (loss)<br>attributable to<br>shareholders<br>of the Parent<br>Company** | **Total compre-<br>hensive<br>income (loss)<br>attributable to<br>shareholders<br>of the Parent<br>Company** | **Total compre-<br>hensive<br>income (loss)<br>attributable to<br>shareholders<br>of the Parent<br>Company** |
|  Kookmin Bank <sup>1</sup> | W | 562887180 | W | 524859860 | W | 38027320 | W | 51497328 | W | 3251759 | W | 3408978 |
|  KB Securities Co., Ltd. <sup>1,2</sup> |  | 63384389 |  | 56498405 |  | 6885984 |  | 10736175 |  | 585682 |  | 630103 |
|  KB Insurance Co., Ltd. <sup>1,2</sup> |  | 40776375 |  | 34982351 |  | 5794024 |  | 12818501 |  | 839494 |  | (125414) |
|  KB Kookmin Card Co., Ltd.<sup>1</sup> |  | 30541628 |  | 25236827 |  | 5304801 |  | 4428688 |  | 402715 |  | 437030 |
|  KB Life Insurance Co., Ltd.<sup>1,2</sup> |  | 34047554 |  | 30984400 |  | 3063154 |  | 2821601 |  | 164272 |  | (906210) |
|  KB Asset Management Co., Ltd. <sup>1</sup> |  | 414942 |  | 120224 |  | 294718 |  | 246184 |  | 66500 |  | 67757 |
|  KB Capital Co., Ltd. <sup>1,2</sup> |  | 18115495 |  | 15654177 |  | 2461318 |  | 2620487 |  | 222041 |  | 225609 |
|  KB Real Estate Trust Co., Ltd. |  | 1113466 |  | 627898 |  | 485568 |  | 139656 |  | (113332) |  | (113652) |
|  KB Savings Bank Co., Ltd. |  | 2575739 |  | 2393523 |  | 182216 |  | 225173 |  | (11366) |  | (11560) |
|  KB Investment Co., Ltd. <sup>1</sup> |  | 1529823 |  | 1245883 |  | 283940 |  | 215834 |  | 4368 |  | 4466 |
|  KB Data System Co., Ltd. <sup>1</sup> |  | 62270 |  | 40219 |  | 22051 |  | 241652 |  | 1978 |  | 1149 |

---

<sup>1</sup> Financial information is based on its consolidated financial statements.

<sup>2</sup> Includes fair value adjustments arising from the acquisition.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

41.4 The Characteristics of Risks Associated with Consolidated Structured Entities

The terms of contractual arrangements to provide financial support to consolidated structured entities are as follows:

41.4.1 The Group has provided payment guarantees of W3,724,216 million to KBD TOWER 1ST LLC and other consolidated structured entities.

41.4.2 The Group has provided capital commitment to 86 consolidated structured entities including KB Sinansan Line Private Special Asset Fund (SOC). The unexecuted amount of the capital commitment is W2,188,449 million. Based on the capital commitment, the Group is subject to increase its investment upon the request of the asset management company or the additional agreement among investors.

41.4.3 The Group has provided the guarantees of payment of principal, or principal and fixed rate of return in case the operating results of the trusts are less than the guaranteed principal, or principal and fixed rate of return.

41.5 Changes in Subsidiaries

41.5.1 Subsidiaries newly included in consolidation for the year ended December 31, 2025, are as follows:

---

| | |
|:---|:---|
| **Company** | **Reasons for obtaining control** |
| IM Asset General Private Securities Investment Trust No.55(Bond) and 21 others | Holds more than half of the ownership interests |
| KB Great On 1st.L.L.C. and 44 others | Holds the power in the event of default and is exposed to significant variable returns by providing lines of credit, ABCP purchase commitments or acquisition of subordinated debt |
| KB HL Infra Private Special Asset Fund 1(FOFs) and 45 others | Holds the power as a general partner and is exposed to variable returns by holding significant amount of ownership interests |

---

41.5.2 Subsidiaries excluded from consolidation for the year ended December 31, 2025, are as follows:

---

| | |
|:---|:---|
| **Company** | **Reasons for losing control** |
| Able Eunhwasam 2nd Co., Ltd. and 36 others | Termination of the commitments |
| KB High-tech Company Investment Fund and 20 others | Liquidation |
| Black Sappahire Holdings Co., Ltd. and 1 other | Disposal |
| KB RISE Global AI Value Chain ETF Moa Dream Securities Fund (FoFs) and 23 others | Decrease in ownership interests to less than majority |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**42. Unconsolidated Structured Entities** 

42.1 Nature, purpose, and activities of the unconsolidated structured entities and how the structured entities are financed, are as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Nature** | **Purpose** | **Activity** | **Method of financing** |
| Structured financing | Granting PF loans to SOC and real estate<br> Granting loans to ships/aircrafts SPC | Construction of SOC and real estate<br> Building ships, construction and purchase of aircrafts | Loan commitments through credit line, providing credit line, and investment agreements |
| Investment funds | Investment in beneficiary certificates<br> Investment in PEF and partnerships | Management of fund assets<br> Payment of fund fees and allocation of fund profits | Sales of beneficiary certificate instruments<br> Investment from general partners and limited partners |
| Trusts | &nbsp;&nbsp;&nbsp;&nbsp; Management of financial trusts;<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Development trust<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• General unspecified money trust<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Trust whose principal is not guaranteed<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other trusts<br>| Management of trusted financial assets<br> Payment of trust fees and allocation of trust profits. | Sales of trusted financial assets |
| Asset-backed securitization | Early cash generation through transfer of securitized assets<br> Fees earned through services to SPC, such as providing lines of credit and ABCP purchase commitments | Fulfillment of asset-backed securitization plan<br> Purchase and collection of securitized assets<br> Issuance and repayment of ABS and ABCP | Issuance of ABS and ABCP based on securitized assets |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

42.2 Details of scale of unconsolidated structured entities and nature of the risks associated with the Group's interests in unconsolidated structured entities as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Structured<br>financing** | **Structured<br>financing** | **Investment funds** | **Investment funds** | **Trusts** | **Trusts** | **Asset-backed<br>securitization**<br>**and others** | **Asset-backed<br>securitization**<br>**and others** | **Total** | **Total** |
|  **Total assets of unconsolidated structured entities** | W | 172510235 | W | 1877784511 | W | 7173093 | W | 210559474 | W | 2268027313 |
|  **Carrying amount in the financial statements** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss | W | 94366 | W | 18414039 | W | 231866 | W | 4363220 | W | 23103491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial assets |  |  |  | 545 |  |  |  |  |  | 545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  | 12622160 |  | 688991 |  | 327621 |  | 3577076 |  | 17215848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial investments |  |  |  |  |  |  |  | 9031801 |  | 9031801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in associates |  |  |  | 793913 |  |  |  |  |  | 793913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets |  | 6237 |  | 4565 |  | 1189630 |  | 18499 |  | 1218931 |
|  | W | 12722763 | W | 19902053 | W | 1749117 | W | 16990596 | W | 51364529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liabilities: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits | W | 2696094 | W | 6461 | W |  | W | 460470 | W | 3163025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial liabilities |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities |  | 7441 |  | 52 |  |  |  | 5514 |  | 13007 |
|  | W | 2703535 | W | 6513 | W |  | W | 465984 | W | 3176032 |
|  **Maximum exposure \*** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets held | W | 12722763 | W | 19902053 | W | 1749117 | W | 16990596 | W | 51364529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchase and investment commitments |  | 15112 |  | 6025252 |  | 35815 |  | 2317179 |  | 8393358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unused credit |  | 2006957 |  | 10445 |  | 573 |  | 2802632 |  | 4820607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acceptances and guarantees and loan commitments |  | 3121835 |  |  |  |  |  | 389441 |  | 3511276 |
|  | W | 17866667 | W | 25937750 | W | 1785505 | W | 22499848 | W | 68089770 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Methods of determining the<br>maximum exposure | Loan commitments /<br>investment agreements /<br>purchase commitments<br>and acceptances and<br>guarantees | Investments /loans and<br>Investment agreements | Trust paying dividends<br>by results: Total amount<br>of trust exposure | Providing credit lines/ purchase commitments/ loan<br>commitments and acceptances and guarantees |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

42.2 Details of scale of unconsolidated structured entities and nature of the risks associated with the Group's interests in unconsolidated structured entities as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Structured<br>financing** | **Structured<br>financing** | **Investment funds** | **Investment funds** | **Trusts** | **Trusts** | **Asset-backed<br>securitization**<br>**and others** | **Asset-backed<br>securitization**<br>**and others** | **Total** | **Total** |
|  **Total assets of unconsolidated structured entities** | W | 157770828 | W | 1934544704 | W | 6013014 | W | 160056159 | W | 2258384705 |
|  **Carrying amount in the financial statements** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss | W | 61079 | W | 17801830 | W | 152629 | W | 4432933 | W | 22448471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial assets |  |  |  | 4111 |  |  |  | 7742 |  | 11853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  | 11508337 |  | 528738 |  | 100087 |  | 2998984 |  | 15136146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial investments |  |  |  |  |  |  |  | 10438641 |  | 10438641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in associates |  |  |  | 489021 |  |  |  |  |  | 489021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets |  | 4796 |  | 41398 |  | 1154232 |  | 11114 |  | 1211540 |
|  | W | 11574212 | W | 18865098 | W | 1406948 | W | 17889414 | W | 49735672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liabilities: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits | W | 2512650 | W | 117624 | W |  | W | 355442 | W | 2985716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative financial liabilities |  |  |  | 8788 |  |  |  |  |  | 8788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities |  | 5302 |  | 764 |  |  |  | 1465 |  | 7531 |
|  | W | 2517952 | W | 127176 | W |  | W | 356907 | W | 3002035 |
|  **Maximum exposure \*** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets held | W | 11574212 | W | 18865098 | W | 1406948 | W | 17889414 | W | 49735672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchase and investment commitments |  | 36332 |  | 6300397 |  | 27130 |  | 1046568 |  | 7410427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unused credit |  | 1554565 |  | 30568 |  | 573 |  | 3788715 |  | 5374421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acceptances and guarantees and loan commitments |  | 974869 |  |  |  |  |  | 527677 |  | 1502546 |
|  | W | 14139978 | W | 25196063 | W | 1434651 | W | 23252374 | W | 64023066 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Methods of determining the<br>maximum exposure | Loan commitments /<br>investment agreements /<br>purchase commitments<br>and acceptances<br>and guarantees | Investments /loans and<br>Investment agreements | Trust paying dividends<br>by results: Total amount<br>of trust exposure | Providing credit lines/purchase commitments/ loan<br>commitments and acceptances and guarantees |

---

\* Maximum exposure includes the asset amounts, after deducting loss (provisions for credit losses, impairment losses, and others), recognized in the consolidated financial statements of the Group. 

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**43. Related Party Transactions** 

According to Korean IFRS No.1024, the Group includes investments in associates, key management personnel (including family members), and post-employment benefit plans of the Group and its related party companies in the scope of related parties. The Group discloses balances (receivables and payables) and other amounts arising from transactions with related parties in the notes to the consolidated financial statements. Refer to Note 13 for details of investments in associates and joint ventures.

43.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Associates and joint ventures** |  |  |  |  |  |
|  Balhae Infrastructure Company | Fee and commission income | W | 7312 | W | 5337 |
|  | Interest income |  | 101 |  |  |
|  | Provision for credit losses |  | 200 |  |  |
|  Korea Credit Bureau Co., Ltd. | Interest expense |  | 12 |  | 1 |
|  | Fee and commission income |  | 671 |  | 727 |
|  | Fee and commission expense |  | 11981 |  | 10203 |
|  | Insurance income |  | 4 |  | 3 |
|  | Reversal of credit losses |  |  |  | 2 |
|  | Other operating expenses |  | 9 |  | 11 |
|  Incheon Bridge Co., Ltd. | Interest income |  | 8125 |  | 14006 |
|  | Interest expense |  | 973 |  | 986 |
|  | Fee and commission income |  | 45 |  | 34 |
|  | Fee and commission expense |  | 12 |  | 9 |
|  | Insurance income |  | 261 |  | 222 |
|  | Gains on financial instruments at fair value through profit or loss |  |  |  | 2129 |
|  | Losses on financial instruments at fair value through profit or loss |  | 1203 |  |  |
|  | Reversal of credit losses |  | 6 |  | 9 |
|  Aju Good Technology Venture Fund | Interest expense |  |  |  | 3 |
|  Star-Lord General Investors Private Real Estate Investment Company No.10 | Insurance income |  | 86 |  | 116 |
|  | Interest income |  | 5716 |  | 5939 |
|  | Interest expense |  | 767 |  | 260 |
|  | Provision for credit losses |  | 1 |  | 1 |
|  | General and administrative expenses |  | 11776 |  | 9055 |
|  | Other income |  | 926 |  | 363 |
|  | Other expense |  | 59 |  |  |
|  Food Factory Co., Ltd. | Interest income |  | 50 |  | 317 |
|  | Interest expense |  | 1 |  | 1 |
|  | Insurance income |  | 4 |  | 3 |
|  | Losses on financial instruments at fair value through profit or loss |  |  |  | 238 |
|  | Provision for credit losses |  | 3 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Dongjo Co., Ltd. | Interest income | W | 74 | W | 34 |
|  POSCO-KB Shipbuilding Fund | Fee and commission income |  | (34) |  |  |
|  Big Dipper Co., Ltd. | Fee and commission income |  | 1 |  |  |
|  | Fee and commission expense |  | 263 |  | 243 |
|  | Reversal of credit losses |  | 2 |  |  |
|  | Provision for credit losses |  |  |  | 4 |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund | Interest expense |  | 1 |  |  |
|  KB-TS Technology Venture Private Equity Fund | Fee and commission income |  | 170 |  | 175 |
|  KB-SJ Tourism Venture Fund | Fee and commission income |  | 454 |  | 272 |
|  Banksalad Co., Ltd. \* | Gains on financial instruments at fair value through profit or loss |  | 426 |  |  |
|  | Losses on financial instruments at fair value through profit or loss |  |  |  | 5489 |
|  | Fee and commission income |  | 57 |  | 36 |
|  | Fee and commission expense |  |  |  | 4 |
|  Bioprotect Ltd. | Gains on financial instruments at fair value through profit or loss |  | 51 |  | 627 |
|  | Losses on financial instruments at fair value through profit or loss |  | 111 |  | 473 |
|  RMGP Bio-Pharma Investment Fund, L.P. | Fee and commission income |  | 46 |  | 59 |
|  | Gains on financial instruments at fair value through profit or loss |  |  |  | 911 |
|  | Losses on financial instruments at fair value through profit or loss |  | 3910 |  | 872 |
|  RMGP Bio-Pharma Investment, L.P. | Gains on financial instruments at fair value through profit or loss |  |  |  | 3 |
|  | Losses on financial instruments at fair value through profit or loss |  | 1 |  |  |
|  KB-MDI Centauri Fund LP | Fee and commission income |  | 398 |  | 452 |
|  | Gains on financial instruments at fair value through profit or loss |  | 2459 |  | 2602 |
|  | Losses on financial instruments at fair value through profit or loss |  | 669 |  | 537 |
|  Hibiscus Fund LP | Fee and commission income |  | 301 |  | 491 |
|  | Gains on financial instruments at fair value through profit or loss |  | 1824 |  | 2302 |
|  | Losses on financial instruments at fair value through profit or loss |  |  |  | 500 |
|  RMG-KB BP Management Ltd. | Gains on financial instruments at fair value through profit or loss |  |  |  | 36 |
|  | Losses on financial instruments at fair value through profit or loss |  | 5 |  |  |
|  RMG-KB BioAccess Fund L.P. | Fee and commission income |  | 361 |  | 344 |
|  | Gains on financial instruments at fair value through profit or loss |  | 581 |  | 824 |
|  | Losses on financial instruments at fair value through profit or loss |  | 95 |  | 1333 |
|  S&E Bio Co., Ltd. | Interest income |  | 76 |  | 44 |
|  | Interest expense |  | 8 |  | 16 |
|  | Provision for credit losses |  |  |  | 16 |
|  | Reversal of credit losses |  | 1 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **2025** | **2025** | **2024** | **2024** |
|  Contents First Inc. | Interest income | W | 388 | W | 482 |
|  | Interest expense |  | 13 |  | 36 |
|  | Fee and commission income |  | 1 |  | 2 |
|  | Gains on financial instruments at fair value through profit or loss |  |  |  | 5936 |
|  | Losses on financial instruments at fair value through profit or loss |  | 1546 |  |  |
|  | Provision for credit losses |  | 12 |  | 5 |
|  | Reversal of credit losses |  |  |  | 1 |
|  Pin Therapeutics Inc. | Interest expense |  | 130 |  | 154 |
|  | Provision for credit losses |  |  |  | 4 |
|  | Reversal of credit losses |  | 1 |  |  |
|  Wyatt Co., Ltd. \* | Interest income |  |  |  | 378 |
|  | Gains on financial instruments at fair value through profit or loss |  | 1152 |  | 2739 |
|  | Insurance income |  | 40 |  | 138 |
|  KB-Brain KOSDAQ Scale-up New Technology Business Investment Fund \* | Interest expense |  |  |  | 4 |
|  Spark Biopharma Inc. | Interest expense |  | 64 |  | 293 |
|  | Provision for credit losses |  |  |  | 13 |
|  | Reversal of credit losses |  | 2 |  |  |
|  | Gains on financial instruments at fair value through profit or loss |  | 327 |  | 3823 |
|  | Losses on financial instruments at fair value through profit or loss |  | 411 |  | 1639 |
|  Skydigital Inc. | Fee and commission income |  | 3 |  | 2 |
|  Il-Kwang Electronic Materials Co., Ltd. | Other non-operating expenses |  | 1 |  |  |
|  SO-MYUNG Recycling Co., Ltd. | Insurance income |  | 1 |  | 1 |
|  KB No.21 Special Purpose Acquisition Company \* | Gains on financial instruments at fair value through profit or loss |  |  |  | 136 |
|  | Interest expense |  | (1) |  | 75 |
|  KB No.22 Special Purpose Acquisition Company \* | Interest expense |  |  |  | 1 |
|  KB No.25 Special Purpose Acquisition Company | Interest expense |  | 38 |  | 53 |
|  | Gains on financial instruments at fair value through profit or loss |  | 65 |  |  |
|  | Losses on financial instruments at fair value through profit or loss |  |  |  | 175 |
|  KB No.26 Special Purpose Acquisition Company \* | Interest expense |  | (29) |  | 57 |
|  | Losses on financial instruments at fair value through profit or loss |  |  |  | 54 |
|  KB No.27 Special Purpose Acquisition Company | Interest expense |  | 136 |  | 158 |
|  | Gains on financial instruments at fair value through profit or loss |  | 405 |  |  |
|  | Losses on financial instruments at fair value through profit or loss |  |  |  | 177 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **2025** | **2025** | **2024** | **2024** |
|  KB No.28 Special Purpose Acquisition Company \* | Interest expense | W | 9 | W | 45 |
|  | Fee and commission income |  |  |  | 175 |
|  | Gains on financial instruments at fair value through profit or loss |  |  |  | 1118 |
|  KB No.29 Special Purpose Acquisition Company | Fee and commission income |  |  |  | 210 |
|  | Gains on financial instruments at fair value through profit or loss |  | 144 |  | 1525 |
|  | Interest expense |  | 51 |  | 43 |
|  KB No.30 Special Purpose Acquisition Company | Interest expense |  | 36 |  | 21 |
|  | Fee and commission income |  |  |  | 175 |
|  | Gains on financial instruments at fair value through profit or loss |  | 58 |  | 1445 |
|  KB No.31 Special Purpose Acquisition Company | Gains on financial instruments at fair value through profit or loss |  | 177 |  | 2111 |
|  | Interest expense |  | 48 |  | 13 |
|  KB No.32 Special Purpose Acquisition Company | Interest expense |  | 35 |  |  |
|  KB No.33 Special Purpose Acquisition Company | Gains on financial instruments at fair value through profit or loss |  | 2214 |  |  |
|  | Interest expense |  | 26 |  |  |
|  KB SPROTT Renewable Private Equity Fund No.1 | Fee and commission income |  | 78 |  | 255 |
|  KB-Stonebridge Secondary Private Equity Fund | Fee and commission income |  | 303 |  | 402 |
|  COSES GT Co., Ltd. \* | Gains on financial instruments at fair value through profit or loss |  |  |  | 20 |
|  TeamSparta Inc. \* | Fee and commission income |  | 3 |  | 54 |
|  | Reversal of credit losses |  |  |  | 1 |
|  | Interest expense |  | 87 |  | 165 |
|  Newavel Co., Ltd | Fee and commission income |  | 1 |  |  |
|  | Losses on financial instruments at fair value through profit or loss |  |  |  | 3000 |
|  SuperNGine Co., Ltd. | Interest income |  | 29 |  | 43 |
|  | Provision for credit losses |  |  |  | 33 |
|  | Reversal of credit losses |  | 40 |  |  |
|  Desilo Inc. | Interest income |  | 13 |  | 14 |
|  | Reversal of credit losses |  | 5 |  |  |
|  Turing Co., Ltd. | Interest expense |  |  |  | 29 |
|  | Interest income |  | 40 |  | 61 |
|  | Reversal of credit losses |  |  |  | 8 |
|  IGGYMOB Co., Ltd. | Losses on financial instruments at fair value through profit or loss |  |  |  | 5000 |
|  ZIPDOC Inc. \* | Losses on financial instruments at fair value through profit or loss |  |  |  | 2000 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **2025** | **2025** | **2024** | **2024** |
|  Grinergy Co., Ltd. | Provision for credit losses | W |  | W | 2 |
|  | Reversal of credit losses |  | 1 |  |  |
|  | Gains on financial instruments at fair value through profit or loss |  |  |  | 1288 |
|  | Losses on financial instruments at fair value through profit or loss |  | 357 |  | 119 |
|  Chabot Mobility Co., Ltd. \* | Fee and commission income |  | 1 |  | 1 |
|  | Interest expense |  | 5 |  | 1 |
|  | Fee and commission expense |  | 2212 |  | 2364 |
|  | Gains on financial instruments at fair value through profit or loss |  |  |  | 579 |
|  Wemade Connect Co., Ltd. | Insurance income |  | 6 |  | 2 |
|  | Interest expense |  | 148 |  | 270 |
|  | Fee and commission income |  |  |  | 5 |
|  | Reversal of credit losses |  | 17 |  |  |
|  | Provision for credit losses |  |  |  | 10 |
|  | Gains on financial instruments at fair value through profit or loss |  | 4391 |  |  |
|  | Losses on financial instruments at fair value through profit or loss |  |  |  | 4827 |
|  TMAP Mobility Co., Ltd. | Interest expense |  | 2204 |  | 3077 |
|  | Fee and commission income |  | 2 |  | 5 |
|  | Fee and commission expense |  | 754 |  | 1292 |
|  | Provision for credit losses |  |  |  | 3 |
|  | Insurance income |  | 1744 |  | 1200 |
|  Nextrade Co., Ltd. | Fee and commission income |  | 2 |  |  |
|  | Interest expense |  | 685 |  | 2481 |
|  WJ Private Equity Fund No.1 | Fee and commission income |  | 7 |  | 7 |
|  UPRISE, Inc. | Gains on financial instruments at fair value through profit or loss |  | 163 |  |  |
|  | Losses on financial instruments at fair value through profit or loss |  | 45 |  | 3893 |
|  Channel Corporation | Interest expense |  |  |  | 10 |
|  | Losses on financial instruments at fair value through profit or loss |  |  |  | 103 |
|  | Gains on financial instruments at fair value through profit or loss |  | 8812 |  | 4837 |
|  CWhy Inc. | Insurance income |  |  |  | 9 |
|  CellinCells Co., Ltd. \* | Provision for credit losses |  |  |  | 2 |
|  KB Social Impact Investment Fund | Fee and commission income |  | 200 |  | 250 |
|  KB-UTC Inno-Tech Venture Fund | Fee and commission income |  | 147 |  | 230 |
|  KB-SP Private Equity Fund IV \* | Fee and commission income |  | 63 |  |  |
|  KB-NAU Special Situation Corporate Restructuring Private Equity Fund | Fee and commission income |  | 800 |  | 619 |
|  2020 KB Fintech Renaissance Fund | Fee and commission income |  | 70 |  | 147 |
|  KB Material and Parts No.1 PEF \* | Fee and commission income |  |  |  | 175 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won).* |  | **2025** | **2025** | **2024** | **2024** |
|  FineKB Private Equity Fund No.1 | Fee and commission income | W | 340 | W | 569 |
|  | Gains on financial instruments at fair value through profit or loss |  |  |  | 32 |
|  | Interest expense |  | 4 |  |  |
|  Paramark KB Fund No.1 | Fee and commission income |  | 134 |  | 118 |
|  KB-Badgers Future Mobility ESG Fund No.1 | Fee and commission income |  | 1252 |  | 1300 |
|  | Gains on financial instruments at fair value through profit or loss |  |  |  | 1 |
|  KB-KTB Technology Venture Fund | Fee and commission income |  | 399 |  | 342 |
|  Bluepointpartners Inc. | Gains on financial instruments at fair value through profit or loss |  | 31 |  |  |
|  | Losses on financial instruments at fair value through profit or loss |  |  |  | 237 |
|  KB-Solidus Global Healthcare Fund | Fee and commission income |  | 3781 |  | 17 |
|  | Gains on financial instruments at fair value through profit or loss |  |  |  | 700 |
|  ASSEMBLE CORPORATION | Interest income |  | 131 |  | 117 |
|  | Fee and commission income |  | 1 |  | 2 |
|  | Insurance income |  | 2 |  | 2 |
|  | Reversal of credit losses |  | 14 |  | 20 |
|  KB Cape No.1 Private Equity Fund \* | Fee and commission income |  |  |  | 37 |
|  | Gains on financial instruments at fair value through profit or loss |  |  |  | 82 |
|  KB-GeneN Medical Venture Fund No.1 | Fee and commission income |  | 89 |  | 89 |
|  KB-BridgePole Venture Investment Fund \* | Fee and commission income |  |  |  | 101 |
|  KB-BridgePole Venture Investment Fund No.2 | Fee and commission income |  | 105 |  | 105 |
|  KB-Kyobo New Mobility Power Fund \* | Fee and commission income |  |  |  | 76 |
|  KB Co-Investment Private Equity Fund No.1 | Fee and commission income |  | 1900 |  | 1434 |
|  KB-NP Green ESG New Technology Venture Capital Fund | Fee and commission income |  | 1095 |  | 1134 |
|  KB-FT Green Growth 1st Technology Investment Association | Fee and commission income |  | 135 |  | 136 |
|  | Interest expense |  |  |  | 12 |
|  Spoonlabs Co., Ltd. \* | Losses on financial instruments at fair value through profit or loss |  |  |  | 911 |
|  Gushcloud Talent Agency | Gains on financial instruments at fair value through profit or loss |  |  |  | 228 |
|  KB-SUSUNG 1st Investment Fund | Fee and commission income |  | 142 |  | 192 |
|  KB-SUSUNG 2nd Investment Fund | Fee and commission income |  | 155 |  | 78 |
|  Seokwang T&I Co., Ltd | Insurance income |  | 1 |  | 2 |
|  3D Interactive Co., Ltd. | Fee and commission income |  |  |  | 1 |
|  | Interest expense |  |  |  | 1 |
|  | Reversal of credit losses |  | 1 |  |  |
|  | Losses on financial instruments at fair value through profit or loss |  | 2141 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **2025** | **2025** | **2024** | **2024** |
|  Bigwave Robotics Corp. | Fee and commission income | W |  | W | 1 |
|  | Interest expense |  | (5) |  | 6 |
|  | Provision for credit losses |  | 8 |  |  |
|  | Gains on financial instruments at fair value through profit or loss |  | 1540 |  |  |
|  U-KB Credit No.1 Private Equity | Fee and commission income |  | 968 |  | 970 |
|  KY Global Cell & Gene Private Equity Fund 2nd \* | Interest expense |  |  |  | (38) |
|  KB-SOLIDUS Healthcare Investment Fund | Fee and commission income |  | 860 |  | 768 |
|  AKK Robotech Valueup New Technology Investment Fund \* | Fee and commission income |  | 235 |  | 101 |
|  New Daegu Busan Expressway Co., Ltd. | Interest income |  | 346 |  | 2458 |
|  | Reversal of credit losses |  |  |  | 3 |
|  | Interest expense |  | 1797 |  | 3680 |
|  | Insurance income |  | 413 |  | 257 |
|  AIM FUTURE, Inc. | Interest income |  | 41 |  | 44 |
|  | Interest expense |  | 1 |  | 48 |
|  | Insurance income |  |  |  | 1 |
|  | Provision for credit losses |  | 2 |  | 3 |
|  ADP Holdings Co., Ltd. | Interest expense |  | 45 |  | 61 |
|  ADPGREEN | Interest expense |  | 107 |  | 26 |
|  | Provision for credit losses |  |  |  | 11 |
|  | Reversal of credit losses |  | 7 |  |  |
|  | Insurance income |  | 169 |  | 73 |
|  KB-CJ Venture Fund 1st | Fee and commission income |  | 150 |  | 80 |
|  OKXE Inc. | Gains on financial instruments at fair value through profit or loss |  |  |  | 1922 |
|  Ascent Global Fund III | Gains on financial instruments at fair value through profit or loss |  |  |  | 261 |
|  | Losses on financial instruments at fair value through profit or loss |  | 90 |  |  |
|  Elev8-Capital Fund I | Gains on financial instruments at fair value through profit or loss |  |  |  | 1143 |
|  | Losses on financial instruments at fair value through profit or loss |  | 2373 |  | 2450 |
|  H Energy Co., Ltd \* | Gains on financial instruments at fair value through profit or loss |  |  |  | 3106 |
|  XL8 INC. | Gains on financial instruments at fair value through profit or loss |  |  |  | 721 |
|  | Losses on financial instruments at fair value through profit or loss |  | 140 |  |  |
|  SDT Inc. | Interest expense |  |  |  | 13 |
|  | Gains on financial instruments at fair value through profit or loss |  | 172 |  | 527 |
|  | Losses on financial instruments at fair value through profit or loss |  | 473 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **2025** | **2025** | **2024** | **2024** |
|  DYNE MEDICAL GROUP Inc. | Interest income | W | 60 | W | 26 |
|  | Interest expense |  | 33 |  | 118 |
|  | Fee and commission income |  | 1 |  | 1 |
|  | Insurance income |  | 4 |  | 4 |
|  | Provision for credit losses |  | 1 |  | 22 |
|  | Reversal of credit losses |  | 2 |  |  |
|  Bitgoeul Cheomdan Green 1st Co., Ltd. | Interest expense |  | 1 |  | 1 |
|  Logpresso Inc. | Fee and commission income |  | 1 |  |  |
|  | Interest expense |  | 11 |  | 3 |
|  Onheal Co., Ltd. | Interest expense |  |  |  | (20) |
|  | Fee and commission income |  |  |  | 8 |
|  TriOar Inc. | Interest expense |  | 98 |  | 235 |
|  Blinkers Inc. \* | Losses on financial instruments at fair value through profit or loss |  |  |  | 508 |
|  KB-VEP Contact Fund | Fee and commission income |  | 60 |  | 44 |
|  SD Speed Co., Ltd. | Insurance income |  | 1 |  | 1 |
|  Xpanner Inc. | Insurance income |  | 1 |  |  |
|  | Gains on financial instruments at fair value through profit or loss |  | 597 |  |  |
|  | Losses on financial instruments at fair value through profit or loss |  | 362 |  |  |
|  KB-Cyrus Tourism Venture Fund | Fee and commission income |  | 338 |  | 64 |
|  Qoala \* | Gains on financial instruments at fair value through profit or loss |  |  |  | 1097 |
|  FineKB Private Equity Fund No.2 | Fee and commission income |  | 139 |  | 122 |
|  GCSM Holdings Limited | Gains on financial instruments at fair value through profit or loss |  |  |  | 5590 |
|  | Losses on financial instruments at fair value through profit or loss |  | 674 |  |  |
|  MitoImmune Therapeutics | Losses on financial instruments at fair value through profit or loss |  | 1574 |  | 5426 |
|  Honest Fund, Inc. | Losses on financial instruments at fair value through profit or loss |  | 60 |  | 3556 |
|  KB Rejuvenation Fund | Fee and commission income |  | 150 |  | 3 |
|  Allra Fintech Corp. | Provision for credit losses |  | 2 |  | 2 |
|  | Interest expense |  | 4 |  | 17 |
|  Yeoulhyulgangho | Interest expense |  | 8 |  | 1 |
|  KB-IMM New Star Real Estate Private Fund I | Fee and commission income |  | 408 |  |  |
|  KB-LB Middle Market Enterprises Innovation Private Equity Fund | Fee and commission income |  | 1200 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **2025** | **2025** | **2024** |
|  Semicolon Susong REITs Co., Ltd. | Interest income | W | 607 | W |
|  | Fee and commission income |  | 4793 |  |
|  | Provision for credit losses |  | 5 |  |
|  | Insurance income |  | 20 |  |
|  KB-Novus Genesis Private Equity Fund | Fee and commission income |  | 104 |  |
|  AIM-KB-DOUBLE Connected Future Investment Fund | Fee and commission income |  | 30 |  |
|  E&I Holdings \* | Fee and commission income |  | 3446 |  |
|  WhaTap Laps Inc. | Interest income |  | 6 |  |
|  | Interest expense |  | 100 |  |
|  | Gains on financial instruments at fair value through profit or loss |  | 165 |  |
|  | Losses on financial instruments at fair value through profit or loss |  | 54 |  |
|  | Provision for credit losses |  | 28 |  |
|  Streami Inc. | Gains on financial instruments at fair value through profit or loss |  | 576 |  |
|  ANTIGRAVITY | Losses on financial instruments at fair value through profit or loss |  | 526 |  |
|  | Interest income |  | 3 |  |
|  | Provision for credit losses |  | 1 |  |
|  KB a2z 2025 Fund | Fee and commission income |  | 24 |  |
|  IMBiologics Corp. | Gains on financial instruments at fair value through profit or loss |  | 13144 |  |
|  | Provision for credit losses |  | 1 |  |
|  Aculys Pharma, Inc. | Gains on financial instruments at fair value through profit or loss |  | 3321 |  |
|  Koru Pharma Co., Ltd. | Interest expense |  | 2 |  |
|  | Insurance income |  | 3 |  |
|  Aldaver | Interest expense |  | 24 |  |
|  K-1 23rd yeoksam Real Estate Investment Trust company Itd | Insurance income |  | 4 |  |
|  Novorex Inc. | Interest expense |  | 18 |  |
|  | Provision for credit losses |  | 6 |  |
|  Xenohelix Co., Ltd. | Interest income |  | 27 |  |
|  | Provision for credit losses |  | 7 |  |
|  Al Spera Inc. | Interest expense |  | 26 |  |
|  enParticle Co., Ltd | Interest expense |  | 3 |  |
|  Emocog Inc. | Interest expense |  | 49 |  |
|  Lemontree Inc. | Fee and commission income |  | 211 |  |
|  | Interest expense |  | 1 |  |
|  | Fee and commission expense |  | 64 |  |
|  | Provision for credit losses |  | 2 |  |
|  ByL | Interest expense |  | 56 |  |
|  eRoun & company Co., Ltd | Interest expense |  | 7 |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **2025** | **2025** | **2024** | **2024** |
|  **Others** |  |  |  |  |  |
|  Retirement pension | Fee and commission income | W | 1553 | W | 1720 |
|  | Interest expense |  | 28 |  | 47 |

---

\* Excluded from the Group's related party as of December 31, 2025.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  **Associates and joint ventures** |  |  |  |  |  |
|  Balhae Infrastructure Company | Other assets | W | 2596 | W | 1431 |
|  | Loans measured at amortized cost (gross amount) |  | 85000 |  |  |
|  | Allowances for credit losses |  | 200 |  |  |
|  | Provisions |  | 109 |  |  |
|  | Other liabilities |  | 9 |  |  |
|  Korea Credit Bureau Co., Ltd. | Loans measured at amortized cost (gross amount) |  | 41 |  | 36 |
|  | Deposits |  | 36968 |  | 40570 |
|  | Insurance liabilities |  | 1 |  | 1 |
|  | Other liabilities |  | 10 |  |  |
| Incheon Bridge Co., Ltd. | Financial assets at fair value through profit or loss |  | 34208 |  | 35411 |
|  | Loans measured at amortized cost (gross amount) |  | 59515 |  | 70012 |
|  | Allowances for credit losses |  | 27 |  | 31 |
|  | Other assets |  | 297 |  | 389 |
|  | Deposits |  | 70470 |  | 43867 |
|  | Provisions |  | 38 |  | 40 |
|  | Insurance liabilities |  | 114 |  | 89 |
|  | Other liabilities |  | 608 |  | 442 |
|  Jungdo Co., Ltd. | Deposits |  | 4 |  | 4 |
| Aju Good Technology Venture Fund | Deposits |  | 39 |  | 1809 |
|  Star-Lord General Investors Private Real Estate Investment Company No.10 | Loans measured at amortized cost (gross amount) |  | 149597 |  | 149898 |
|  | Allowances for credit losses |  | 7 |  | 5 |
|  | Property and equipment |  | 31089 |  | 4356 |
|  | Other assets |  | 8330 |  | 8860 |
|  | Insurance liabilities |  | 29 |  | 35 |
|  | Other liabilities |  | 31053 |  | 5107 |
|  WJ Private Equity Fund No.1 | Other assets |  | 2 |  | 2 |
|  | Deposits |  | 36 |  | 46 |
|  RAND Bio Science Co., Ltd.\* | Deposits |  |  |  | 4 |
| Food Factory Co., Ltd. | Loans measured at amortized cost (gross amount) |  | 2941 |  | 1764 |
|  | Allowances for credit losses |  | 5 |  | 1 |
|  | Other assets |  | 13 |  | 4 |
|  | Deposits |  | 604 |  | 907 |
|  | Insurance liabilities |  | 6 |  | 8 |
|  | Other liabilities |  | 1 |  | 1 |
| Big Dipper Co., Ltd. | Loans measured at amortized cost (gross amount) |  | 23 |  | 43 |
|  | Allowances for credit losses |  | 1 |  | 3 |
|  | Deposits |  | 51 |  | 123 |
|  | Other assets |  | 42 |  |  |
|  | Other liabilities |  | 10 |  | 8 |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund | Deposits |  | 270 |  | 39 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Iwon Alloy Co., Ltd. | Deposits | W |  | W | 2 |
| RMGP Bio-Pharma Investment Fund, L.P. | Financial assets at fair value through profit or loss |  | 2432 |  | 7205 |
|  | Other assets |  | 15 |  |  |
|  | Other liabilities |  |  |  | 3 |
| RMGP Bio-Pharma Investment, L.P. | Financial assets at fair value through profit or loss |  | 22 |  | 25 |
| Wyatt Co., Ltd. \* | Financial assets at fair value through profit or loss |  |  |  | 3000 |
|  | Deposits |  |  |  | 1 |
|  | Insurance liabilities |  |  |  | 78 |
|  Skydigital Inc. | Deposits |  | 1 |  | 30 |
| Banksalad Co., Ltd. \* | Financial assets at fair value through profit or loss |  |  |  | 2059 |
|  Spark Biopharma Inc. | Financial assets at fair value through profit or loss |  | 4549 |  | 4634 |
|  | Loans measured at amortized cost (gross amount) |  | 23 |  | 15 |
|  | Deposits |  | 1145 |  | 4759 |
|  | Other liabilities |  | 2 |  | 22 |
|  | Allowances for credit losses |  | 8 |  | 7 |
|  | Provisions |  | 3 |  | 6 |
|  UPRISE, Inc. | Financial assets at fair value through profit or loss |  | 1934 |  | 1817 |
|  Stratio, Inc. | Financial assets at fair value through profit or loss |  | 1000 |  | 1000 |
| Honest Fund, Inc. | Financial assets at fair value through profit or loss |  | 382 |  | 442 |
|  CellinCells Co., Ltd. \* | Financial assets at fair value through profit or loss |  |  |  | 2000 |
|  | Loans measured at amortized cost (gross amount) |  | 3 |  | 1 |
|  | Allowances for credit losses |  | 1 |  |  |
|  | Deposits |  |  |  | 13 |
|  | Provisions |  |  |  | 1 |
|  Channel Corporation | Financial assets at fair value through profit or loss |  | 15719 |  | 20141 |
|  | Deposits |  |  |  | 6 |
|  KB No.21 Special Purpose Acquisition Company \* | Financial assets at fair value through profit or loss |  |  |  | 3122 |
|  | Deposits |  |  |  | 2247 |
|  | Other liabilities |  |  |  | 36 |
|  KB No.25 Special Purpose Acquisition Company | Financial assets at fair value through profit or loss |  | 1915 |  | 1850 |
|  | Deposits |  | 1604 |  | 1545 |
|  | Other liabilities |  | 2 |  | 39 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  KB No.26 Special Purpose Acquisition Company \* | Financial assets at fair value through profit or loss | W |  | W | 2150 |
|  | Deposits |  |  |  | 1763 |
|  | Other liabilities |  |  |  | 31 |
|  KB No.27 Special Purpose Acquisition Company | Financial assets at fair value through profit or loss |  | 6282 |  | 5877 |
|  | Deposits |  | 4675 |  | 4613 |
|  | Other liabilities |  | 41 |  | 55 |
|  KB No.28 Special Purpose Acquisition Company \* | Financial assets at fair value through profit or loss |  |  |  | 2113 |
|  | Deposits |  |  |  | 1910 |
|  | Other liabilities |  |  |  | 45 |
|  KB No.29 Special Purpose Acquisition Company | Financial assets at fair value through profit or loss |  | 3159 |  | 3015 |
|  | Deposits |  | 2348 |  | 2338 |
|  | Other liabilities |  | 36 |  | 43 |
| KB No.30 Special Purpose Acquisition Company | Financial assets at fair value through profit or loss |  | 2893 |  | 2835 |
|  | Deposits |  | 1788 |  | 1786 |
|  | Other liabilities |  | 15 |  | 20 |
| KB No.31 Special Purpose Acquisition Company | Financial assets at fair value through profit or loss |  | 4478 |  | 4301 |
|  | Deposits |  | 2310 |  | 2352 |
|  | Other liabilities |  | 10 |  | 13 |
| KB No.32 Special Purpose Acquisition Company | Deposits |  | 2315 |  |  |
|  | Other liabilities |  | 35 |  |  |
|  KB No.33 Special Purpose Acquisition Company | Financial assets at fair value through profit or loss |  | 4304 |  |  |
|  | Deposits |  | 2835 |  |  |
|  | Other liabilities |  | 25 |  |  |
|  MitoImmune Therapeutics | Financial assets at fair value through profit or loss |  |  |  | 1574 |
| KB-Solidus Global Healthcare Fund | Other assets |  | 3781 |  |  |
| Bioprotect Ltd. | Financial assets at fair value through profit or loss |  | 5606 |  | 4628 |
|  ASSEMBLE CORPORATION | Financial assets at fair value through profit or loss |  | 4000 |  | 4000 |
|  | Loans measured at amortized cost (gross amount) |  | 1862 |  | 2021 |
|  | Allowances for credit losses |  | 30 |  | 43 |
|  | Other assets |  | 1 |  | 11 |
|  | Deposits |  | 19 |  | 18 |
|  | Other liabilities |  | 1 |  | 1 |
|  | Provisions |  |  |  | 1 |
|  | Insurance liabilities |  | 2 |  | 1 |
|  SO-MYUNG Recycling Co., Ltd. | Insurance liabilities |  | 3 |  | 1 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Go2joy Co., Ltd. | Financial assets at fair value through profit or loss | W | 1200 | W | 1200 |
|  S&E Bio Co., Ltd. | Financial assets at fair value through profit or loss |  | 4000 |  | 4000 |
|  | Loans measured at amortized cost (gross amount) |  | 2009 |  | 2016 |
|  | Other assets |  | 3 |  | 3 |
|  | Deposits |  | 224 |  | 772 |
|  | Other liabilities |  | 2 |  | 3 |
|  | Allowances for credit losses |  | 12 |  | 15 |
|  | Provisions |  | 2 |  | 2 |
|  Bluepointpartners Inc. | Financial assets at fair value through profit or loss |  | 1667 |  | 1636 |
|  4N Inc. | Deposits |  |  |  | 4 |
|  Xenohelix Co., Ltd. | Financial assets at fair value through profit or loss |  | 3100 |  | 3100 |
|  | Loans measured at amortized cost (gross amount) |  | 555 |  | 4 |
|  | Other assets |  | 1 |  |  |
|  | Allowances for credit losses |  | 7 |  |  |
|  | Deposits |  | 40 |  | 302 |
|  Contents First Inc. | Financial assets at fair value through profit or loss |  | 11667 |  | 13213 |
|  | Loans measured at amortized cost (gross amount) |  | 10020 |  | 10065 |
|  | Allowances for credit losses |  | 22 |  | 12 |
|  | Other assets |  | 3 |  | 3 |
|  | Deposits |  | 133 |  | 729 |
|  | Provisions |  | 2 |  |  |
|  | Other liabilities |  | 4 |  | 4 |
|  KB-MDI Centauri Fund LP | Financial assets at fair value through profit or loss |  | 19026 |  | 21058 |
|  2020 KB Fintech Renaissance Fund | Other assets |  |  |  | 37 |
|  OKXE Inc. | Financial assets at fair value through profit or loss |  | 2722 |  | 2722 |
|  Newavel Co., Ltd | Loans measured at amortized cost (gross amount) |  |  |  | 20 |
|  | Deposits |  | 1 |  |  |
|  Pin Therapeutics Inc. | Loans measured at amortized cost (gross amount) |  | 20 |  | 29 |
|  | Financial assets at fair value through profit or loss |  | 7000 |  | 7000 |
|  | Deposits |  | 850 |  | 11133 |
|  | Other liabilities |  |  |  | 117 |
|  | Allowances for credit losses |  | 2 |  | 3 |
|  | Provisions |  | 1 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  IMBiologics Corp. | Loans measured at amortized cost (gross amount) | W | 1 | W | 2 |
|  | Financial assets at fair value through profit or loss |  | 13144 |  | 7000 |
|  SuperNGine Co., Ltd. | Loans measured at amortized cost (gross amount) |  | 16 |  | 482 |
|  | Deposits |  | 151 |  | 217 |
|  | Allowances for credit losses |  |  |  | 39 |
|  | Other assets |  |  |  | 1 |
|  | Financial assets at fair value through profit or loss |  | 1996 |  | 1996 |
|  Desilo Inc. | Financial assets at fair value through profit or loss |  | 3168 |  | 3168 |
|  | Loans measured at amortized cost (gross amount) |  |  |  | 300 |
|  | Allowances for credit losses |  |  |  | 5 |
|  | Deposits |  | 2 |  | 3 |
|  Turing Co., Ltd. | Financial assets at fair value through profit or loss |  | 3000 |  | 3000 |
|  | Loans measured at amortized cost (gross amount) |  | 900 |  | 900 |
|  | Allowances for credit losses |  | 6 |  | 6 |
|  | Other assets |  | 2 |  | 2 |
|  | Deposits |  | 887 |  | 819 |
|  Kukka Co., Ltd. \* | Financial assets at fair value through profit or loss |  |  |  | 2490 |
|  | Insurance liabilities |  |  |  | 1 |
|  ZIPDOC Inc. \* | Deposits |  |  |  | 1 |
|  TeamSparta Inc. \* | Loans measured at amortized cost (gross amount) |  |  |  | 5 |
|  | Financial assets at fair value through profit or loss |  |  |  | 4001 |
|  | Provisions |  |  |  | 1 |
|  | Deposits |  |  |  | 18635 |
|  | Other liabilities |  |  |  | 34 |
|  Chabot Mobility Co., Ltd. \* | Financial assets at fair value through profit or loss |  |  |  | 2580 |
|  | Deposits |  |  |  | 631 |
|  Wemade Connect Co., Ltd. | Financial assets at fair value through profit or loss |  | 11857 |  | 7466 |
|  | Loans measured at amortized cost (gross amount) |  | 2 |  | 29 |
|  | Allowances for credit losses |  |  |  | 9 |
|  | Provisions |  | 6 |  | 14 |
|  | Deposits |  | 5525 |  | 5465 |
|  | Insurance liabilities |  | 2 |  | 4 |
|  | Other liabilities |  | 22 |  | 38 |
|  Nextrade Co., Ltd. | Loans measured at amortized cost (gross amount) |  | 131 |  |  |
|  | Deposits |  | 278 |  | 15281 |
|  | Other liabilities |  |  |  | 1579 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | |
|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
|  TMAP Mobility Co., Ltd. | Loans measured at amortized cost (gross amount) | 116 | 73 |
|  | Allowances for credit losses | 2 | 1 |
|  | Deposits | 1 | 100010 |
|  | Insurance liabilities | 1 | 235 |
|  | Other liabilities | 178 | 548 |
|  | Provisions | 5 | 5 |
|  FutureConnect Co., Ltd. \* | Financial assets at fair value through profit or loss |  | 1499 |
|  Grinergy Co., Ltd. | Loans measured at amortized cost (gross amount) | 2 | 1 |
|  | Financial assets at fair value through profit or loss | 7297 |  |
|  | Allowances for credit losses | 2 |  |
|  | Provisions |  | 2 |
|  NexThera Co., Ltd. | Financial assets at fair value through profit or loss | 3000 | 3000 |
|  FineKB Private Equity Fund No.1 | Other assets | 10 | 144 |
|  Paramark KB Fund No.1 | Other liabilities | 50 | 45 |
|  KB Social Impact Investment Fund | Other assets | 200 | 250 |
|  Checkmate Therapeutics Inc. | Financial assets at fair value through profit or loss | 3200 | 3200 |
|  | Insurance liabilities | 8 | 3 |
|  Hibiscus Fund LP | Financial assets at fair value through profit or loss | 16540 | 14717 |
|  | Other assets | 316 | 210 |
|  RMG-KB BioAccess Fund L.P. | Financial assets at fair value through profit or loss | 15709 | 9379 |
|  RMG-KB BP Management Ltd. | Financial assets at fair value through profit or loss | 494 | 344 |
|  KB Co-Investment Private Equity Fund No.1 | Other assets | 500 | 302 |
|  Spoonlabs Co., Ltd. \* | Financial assets at fair value through profit or loss |  | 15006 |
|  Neuroptika Inc. | Financial assets at fair value through profit or loss | 5879 | 5879 |
|  Bitgoeul Cheomdan Green 1st Co., Ltd. | Deposits | 1242 | 1239 |
|  Bigwave Robotics Corp. | Loans measured at amortized cost (gross amount) | 60 | 39 |
|  | Financial assets at fair value through profit or loss | 4290 | 2750 |
|  | Allowances for credit losses | 7 |  |
|  | Deposits | 364 | 501 |
|  | Provisions | 2 |  |
|  | Other liabilities |  | 6 |
|  3D Interactive Co., Ltd. | Loans measured at amortized cost (gross amount) | 2 | 6 |
|  | Provisions |  | 2 |
|  | Financial assets at fair value through profit or loss | 159 | 2300 |
|  | Deposits | 48 | 1779 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  XL8 INC. | Financial assets at fair value through profit or loss | W | 5729 | W | 5869 |
|  Elev8-Capital Fund I | Financial assets at fair value through profit or loss |  | 13877 |  | 16250 |
|  New Daegu Busan Expressway Co., Ltd. | Loans measured at amortized cost (gross amount) |  | 15 |  | 24264 |
|  | Allowances for credit losses |  | 4 |  | 4 |
|  | Other assets |  |  |  | 22 |
|  | Deposits |  | 115401 |  | 150007 |
|  | Other liabilities |  | 43 |  | 1928 |
|  | Insurance liabilities |  | 27 |  | 22 |
|  AIM FUTURE, Inc. | Financial assets at fair value through profit or loss |  | 2000 |  | 2000 |
|  | Loans measured at amortized cost (gross amount) |  | 906 |  | 908 |
|  | Allowances for credit losses |  | 5 |  | 5 |
|  | Other assets |  | 1 |  | 1 |
|  | Deposits |  | 140 |  | 760 |
|  | Provisions |  | 2 |  |  |
|  Novorex Inc. | Financial assets at fair value through profit or loss |  | 4000 |  | 2000 |
|  | Loans measured at amortized cost (gross amount) |  | 14 |  | 8 |
|  | Allowances for credit losses |  | 4 |  |  |
|  | Other liabilities |  | 4 |  |  |
|  | Provisions |  | 2 |  |  |
|  | Deposits |  | 9674 |  | 6 |
|  Seokwang T&I Co., Ltd | Insurance liabilities |  | 2 |  | 2 |
|  ADP Holdings Co., Ltd. | Deposits |  | 263 |  | 2058 |
|  | Other liabilities |  | 1 |  | 7 |
|  ADPGREEN | Loans measured at amortized cost (gross amount) |  | 23 |  | 25 |
|  | Deposits |  | 5302 |  | 1802 |
|  | Other liabilities |  | 33 |  | 8 |
|  | Allowances for credit losses |  | 3 |  | 8 |
|  | Provisions |  | 1 |  | 3 |
|  | Insurance liabilities |  | 94 |  | 101 |
|  Logpresso Inc. | Financial assets at fair value through profit or loss |  | 9000 |  | 3000 |
|  | Loans measured at amortized cost (gross amount) |  | 40 |  | 31 |
|  | Deposits |  | 7576 |  | 457 |
|  | Other liabilities |  | 10 |  |  |
|  Onheal Co., Ltd. | Financial assets at fair value through profit or loss |  | 10000 |  | 10000 |
|  | Deposits |  |  |  | 5001 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Ascent Global Fund III | Financial assets at fair value through profit or loss | W | 3677 | W | 3767 |
|  DYNE MEDICAL GROUP Inc. | Financial assets at fair value through profit or loss |  | 3001 |  | 3001 |
|  | Loans measured at amortized cost (gross amount) |  | 2033 |  | 2022 |
|  | Allowances for credit losses |  | 16 |  | 16 |
|  | Provisions |  | 5 |  | 6 |
|  | Other assets |  | 1 |  | 1 |
|  | Deposits |  | 356 |  | 3813 |
|  | Other liabilities |  | 6 |  | 23 |
|  | Insurance liabilities |  | 1 |  | 1 |
|  TriOar Inc. | Financial assets at fair value through profit or loss |  | 5000 |  | 3000 |
|  | Loans measured at amortized cost (gross amount) |  | 12 |  | 16 |
|  | Deposits |  | 4088 |  | 6054 |
|  | Other liabilities |  | 20 |  | 73 |
|  Coxwave Co., Ltd. | Financial assets at fair value through profit or loss |  | 3000 |  | 3000 |
|  SDT Inc. | Financial assets at fair value through profit or loss |  | 3873 |  | 3105 |
|  Yeoulhyulgangho | Financial assets at fair value through profit or loss |  | 500 |  | 500 |
|  | Deposits |  | 783 |  | 456 |
|  | Other liabilities |  | 2 |  |  |
|  KB-VEP Contact Fund | Other assets |  | 15 |  | 15 |
|  Xpanner Inc. | Financial assets at fair value through profit or loss |  | 9908 |  | 9673 |
|  | Insurance liabilities |  | 10 |  | 1 |
|  SD Speed Co., Ltd. | Insurance liabilities |  | 1 |  | 1 |
|  Allra Fintech Corp. | Loans measured at amortized cost (gross amount) |  | 26 |  |  |
|  | Allowances for credit losses |  | 3 |  |  |
|  | Deposits |  | 33 |  | 1671 |
|  | Other liabilities |  |  |  | 1 |
|  | Provisions |  |  |  | 2 |
|  GCSM Holdings Limited | Financial assets at fair value through profit or loss |  | 8833 |  | 9506 |
|  KB Rejuvenation Fund | Other assets |  | 38 |  | 3 |
|  Qoala \* | Financial assets at fair value through profit or loss |  |  |  | 6554 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  FineKB Private Equity Fund No.2 | Other assets | W | 35 | W | 35 |
|  Koru Pharma Co., Ltd. | Financial assets at fair value through profit or loss |  | 7890 |  |  |
|  | Deposits |  | 197 |  |  |
|  | Insurance liabilities |  | 12 |  |  |
|  WhaTap Laps Inc. | Loans measured at amortized cost (gross amount) |  | 1091 |  |  |
|  | Financial assets at fair value through profit or loss |  | 6259 |  |  |
|  | Other assets |  | 1 |  |  |
|  | Allowances for credit losses |  | 16 |  |  |
|  | Provisions |  | 11 |  |  |
|  | Deposits |  | 2814 |  |  |
|  | Other liabilities |  | 75 |  |  |
| Streami Inc. | Financial assets at fair value through profit or loss |  | 3047 |  |  |
| Lemontree Inc. | Financial assets at fair value through profit or loss |  | 999 |  |  |
|  | Deposits |  | 536 |  |  |
|  | Provisions |  | 2 |  |  |
| GAME TALES | Financial assets at fair value through profit or loss |  | 3000 |  |  |
|  HyperAccel Co., Ltd. | Financial assets at fair value through profit or loss |  | 8500 |  |  |
|  Aldaver | Financial assets at fair value through profit or loss |  | 2000 |  |  |
|  | Deposits |  | 821 |  |  |
|  | Other liabilities |  | 4 |  |  |
| enParticle Co., Ltd | Financial assets at fair value through profit or loss |  | 2000 |  |  |
|  | Deposits |  | 1696 |  |  |
| ALL ROUND DOCTORS Inc. | Financial assets at fair value through profit or loss |  | 2000 |  |  |
|  Emocog Inc. | Financial assets at fair value through profit or loss |  | 4000 |  |  |
|  | Deposits |  | 704 |  |  |
| ANTIGRAVITY | Financial assets at fair value through profit or loss |  | 374 |  |  |
|  | Loans measured at amortized cost (gross amount) |  | 38 |  |  |
|  | Allowances for credit losses |  | 1 |  |  |
|  | Deposits |  | 82 |  |  |
| ByL | Financial assets at fair value through profit or loss |  | 14967 |  |  |
|  | Deposits |  | 8968 |  |  |
|  | Other liabilities |  | 55 |  |  |
| KB a2z 2025 Fund | Other assets |  | 24 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Semicolon Susong REITs Co., Ltd. | Loans measured at amortized cost (gross amount) | W | 24933 | W |  |
|  | Allowances for credit losses |  | 5 |  |  |
|  | Other assets |  | 173 |  |  |
|  | Insurance liabilities |  | 9 |  |  |
|  K-1 23rd yeoksam Real Estate Investment Trust company Itd | Insurance liabilities |  | 3 |  |  |
|  IMT TECHNOLOGY CO., LTD. | Insurance liabilities |  | 1 |  |  |
|  VP Inc. | Loans measured at amortized cost (gross amount) |  | 2 |  |  |
|  | Other liabilities |  | 109 |  |  |
|  | Insurance liabilities |  | 1 |  |  |
|  | Deposits |  | 51 |  |  |
| eRoun & company Co., Ltd | Deposits |  | 1127 |  |  |
|  | Other liabilities |  | 7 |  |  |
|  RUMIKEU Holdings Inc. | Deposits |  | 11 |  |  |
|  **Key management personnel** |  |  |  |  |  |
| Key management personnel | Loans measured at amortized cost (gross amount) |  | 9248 |  | 7125 |
|  | Allowances for credit losses |  | 24 |  | 3 |
|  | Other assets |  | 9 |  | 8 |
|  | Deposits |  | 12740 |  | 15365 |
|  | Provisions |  | 1 |  | 1 |
|  | Insurance liabilities |  | 2927 |  | 2308 |
|  | Other liabilities |  | 362 |  | 555 |
|  **Others** |  |  |  |  |  |
|  Retirement pension | Other assets |  | 632 |  | 739 |
|  | Other liabilities |  | 1154 |  | 1215 |

---

\* Excluded from the Group's related party as of December 31, 2025, therefore, the remaining outstanding balances with those entities are not disclosed.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.3 Details of significant lending transactions with related parties for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Loan** | **Loan** | **Collection** | **Collection** | **Ending** | **Ending** |
|  **Associates and joint ventures** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea Credit Bureau Co., Ltd. | W | 36 | W | 41 | W | (36) | W | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incheon Bridge Co., Ltd. |  | 105423 |  | 15 |  | (11715) |  | 93723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Star-Lord General Investors Private Real Estate Investment Company No.10 |  | 149898 |  | 150000 |  | (150301) |  | 149597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food Factory Co., Ltd. |  | 1764 |  | 1514 |  | (337) |  | 2941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Big Dipper Co., Ltd. |  | 43 |  | 23 |  | (43) |  | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMGP Bio-Pharma Investment Fund, L.P. |  | 7205 |  |  |  | (4773) |  | 2432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMGP Bio-Pharma Investment, L.P. |  | 25 |  |  |  | (3) |  | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyatt Co., Ltd. \* |  | 3000 |  |  |  | (3000) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banksalad Co., Ltd. \* |  | 2059 |  |  |  | (2059) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UPRISE, Inc. |  | 1817 |  | 117 |  |  |  | 1934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stratio, Inc. |  | 1000 |  |  |  |  |  | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Honest Fund, Inc. |  | 442 |  |  |  | (60) |  | 382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CellinCells Co., Ltd. \* |  | 2001 |  | 3 |  | (2001) |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.21 Special Purpose Acquisition Company \* |  | 3122 |  |  |  | (3122) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.25 Special Purpose Acquisition Company |  | 1850 |  | 65 |  |  |  | 1915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.26 Special Purpose Acquisition Company \* |  | 2150 |  |  |  | (2150) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.27 Special Purpose Acquisition Company |  | 5877 |  | 405 |  |  |  | 6282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.28 Special Purpose Acquisition Company \* |  | 2113 |  |  |  | (2113) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.29 Special Purpose Acquisition Company |  | 3015 |  | 144 |  |  |  | 3159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.30 Special Purpose Acquisition Company |  | 2835 |  | 58 |  |  |  | 2893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.31 Special Purpose Acquisition Company |  | 4301 |  | 177 |  |  |  | 4478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.33 Special Purpose Acquisition Company |  |  |  | 4304 |  |  |  | 4304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Channel Corporation |  | 20141 |  |  |  | (4422) |  | 15719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MitoImmune Therapeutics |  | 1574 |  |  |  | (1574) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bioprotect Ltd. |  | 4628 |  | 978 |  |  |  | 5606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASSEMBLE CORPORATION |  | 6021 |  | 12 |  | (171) |  | 5862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Go2joy Co., Ltd. |  | 1200 |  |  |  |  |  | 1200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S&E Bio Co., Ltd. |  | 6016 |  | 9 |  | (16) |  | 6009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bluepointpartners Inc. |  | 1636 |  | 31 |  |  |  | 1667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xenohelix Co., Ltd. |  | 3104 |  | 555 |  | (4) |  | 3655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contents First Inc. |  | 23278 |  | 20 |  | (1611) |  | 21687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-MDI Centauri Fund LP |  | 21058 |  |  |  | (2032) |  | 19026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OKXE Inc. |  | 2722 |  |  |  |  |  | 2722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Checkmate Therapeutics Inc. |  | 3200 |  |  |  |  |  | 3200 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.3 Details of significant lending transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Loan** | **Loan** | **Collection** | **Collection** | **Ending** | **Ending** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newavel Co., Ltd | W | 20 | W |  | W | (20) | W |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IMBiologics Corp. |  | 7002 |  | 6145 |  | (2) |  | 13145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spark Biopharma Inc. |  | 4649 |  | 23 |  | (100) |  | 4572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pin Therapeutics Inc. |  | 7029 |  | 20 |  | (29) |  | 7020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hibiscus Fund LP |  | 14717 |  | 1823 |  |  |  | 16540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SuperNGine Co., Ltd. |  | 2478 |  | 16 |  | (482) |  | 2012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Desilo Inc. |  | 3468 |  |  |  | (300) |  | 3168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMG-KB BioAccess Fund L.P. |  | 9379 |  | 6330 |  |  |  | 15709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMG-KB BP Management Ltd. |  | 344 |  | 150 |  |  |  | 494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turing Co., Ltd. |  | 3900 |  |  |  |  |  | 3900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kukka Co., Ltd. \* |  | 2490 |  |  |  | (2490) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grinergy Co., Ltd. |  | 1 |  | 7298 |  |  |  | 7299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NexThera Co., Ltd. |  | 3000 |  |  |  |  |  | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chabot Mobility Co., Ltd. \* |  | 2580 |  |  |  | (2580) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TeamSparta Inc. \* |  | 4006 |  |  |  | (4006) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FutureConnect Co., Ltd. \* |  | 1499 |  |  |  | (1499) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wemade Connect Co., Ltd. |  | 7495 |  | 4393 |  | (29) |  | 11859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TMAP Mobility Co., Ltd. |  | 73 |  | 116 |  | (73) |  | 116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spoonlabs Co., Ltd. \* |  | 15006 |  |  |  | (15006) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neuroptika Inc. |  | 5879 |  |  |  |  |  | 5879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bigwave Robotics Corp. |  | 2789 |  | 1600 |  | (39) |  | 4350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3D Interactive Co., Ltd. |  | 2306 |  | 2 |  | (2147) |  | 161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XL8 INC. |  | 5869 |  |  |  | (140) |  | 5729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elev8-Capital Fund I |  | 16250 |  |  |  | (2373) |  | 13877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIM FUTURE, Inc. |  | 2908 |  | 6 |  | (8) |  | 2906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Daegu Busan Expressway Co., Ltd. |  | 24264 |  | 18 |  | (24267) |  | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novorex Inc. |  | 2008 |  | 2014 |  | (8) |  | 4014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Logpresso Inc. |  | 3031 |  | 6040 |  | (31) |  | 9040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Onheal Co., Ltd. |  | 10000 |  |  |  |  |  | 10000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ascent Global Fund III |  | 3767 |  |  |  | (90) |  | 3677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DYNE MEDICAL GROUP Inc. |  | 5023 |  | 33 |  | (22) |  | 5034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TriOar Inc. |  | 3016 |  | 2012 |  | (16) |  | 5012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coxwave Co., Ltd. |  | 3000 |  |  |  |  |  | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SDT Inc. |  | 3105 |  | 768 |  |  |  | 3873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yeoulhyulgangho |  | 500 |  |  |  |  |  | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ADPGREEN |  | 25 |  | 23 |  | (25) |  | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xpanner Inc. |  | 9673 |  | 235 |  |  |  | 9908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GCSM Holdings Limited |  | 9506 |  |  |  | (673) |  | 8833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qoala \* |  | 6554 |  |  |  | (6554) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Koru Pharma Co., Ltd. |  |  |  | 7890 |  |  |  | 7890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WhaTap Laps Inc. |  |  |  | 7350 |  |  |  | 7350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lemontree Inc. |  |  |  | 999 |  |  |  | 999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GAME TALES |  |  |  | 3000 |  |  |  | 3000 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.3 Details of significant lending transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Loan** | **Loan** | **Collection** | **Collection** | **Ending** | **Ending** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Streami Inc. | W |  | W | 3047 | W |  | W | 3047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ANTIGRAVITY |  |  |  | 419 |  | (7) |  | 412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HyperAccel Co., Ltd. |  |  |  | 8500 |  |  |  | 8500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aldaver |  |  |  | 2000 |  |  |  | 2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; enParticle Co., Ltd |  |  |  | 2000 |  |  |  | 2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ALL ROUND DOCTORS Inc. |  |  |  | 2000 |  |  |  | 2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emocog Inc. |  |  |  | 4000 |  |  |  | 4000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ByL |  |  |  | 14967 |  |  |  | 14967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allra Fintech Corp. |  |  |  | 26 |  |  |  | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nextrade Co., Ltd. |  |  |  | 131 |  |  |  | 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Inc. |  |  |  | 2 |  |  |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Balhae Infrastructure Company |  |  |  | 85000 |  |  |  | 85000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Semicolon Susong REITs Co., Ltd. |  |  |  | 25000 |  | (67) |  | 24933 |
|  **Key management personnel** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Key management personnel |  | 7125 |  | 6710 |  | (4587) |  | 9248 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.3 Details of significant lending transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Loan** | **Loan** | **Collection** | **Collection** | **Ending** | **Ending** |
|  **Associates and joint ventures** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea Credit Bureau Co., Ltd. | W | 37 | W | 36 | W | (37) | W | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incheon Bridge Co., Ltd. |  | 113794 |  | 2141 |  | (10512) |  | 105423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Star-Lord General Investors Private Real Estate Investment Company No.10 |  | 149590 |  | 308 |  |  |  | 149898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB Cape No.1 Private Equity Fund \* |  | 1935 |  |  |  | (1935) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RAND Bio Science Co., Ltd. \* |  | 1 |  |  |  | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food Factory Co., Ltd. |  | 2875 |  | 9 |  | (1120) |  | 1764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Big Dipper Co., Ltd. |  | 14 |  | 43 |  | (14) |  | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMGP Bio-Pharma Investment Fund, L.P. |  | 5938 |  | 1267 |  |  |  | 7205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMGP Bio-Pharma Investment, L.P. |  | 20 |  | 5 |  |  |  | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyatt Co., Ltd. \* |  | 6000 |  |  |  | (3000) |  | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banksalad Co., Ltd. \* |  | 9148 |  |  |  | (7089) |  | 2059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UPRISE, Inc. |  | 5710 |  |  |  | (3893) |  | 1817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stratio, Inc. |  | 1000 |  |  |  |  |  | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Honest Fund, Inc. |  | 3999 |  |  |  | (3557) |  | 442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CellinCells Co., Ltd. |  | 2003 |  | 1 |  | (3) |  | 2001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.21 Special Purpose Acquisition Company \* |  | 2987 |  | 135 |  |  |  | 3122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.22 Special Purpose Acquisition Company \* |  | 2985 |  |  |  | (2985) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.25 Special Purpose Acquisition Company |  | 2025 |  |  |  | (175) |  | 1850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.26 Special Purpose Acquisition Company \* |  | 2204 |  |  |  | (54) |  | 2150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.27 Special Purpose Acquisition Company |  | 6054 |  |  |  | (177) |  | 5877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.28 Special Purpose Acquisition Company \* |  |  |  | 2113 |  |  |  | 2113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.29 Special Purpose Acquisition Company |  |  |  | 3015 |  |  |  | 3015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.30 Special Purpose Acquisition Company |  |  |  | 2835 |  |  |  | 2835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.31 Special Purpose Acquisition Company |  |  |  | 4301 |  |  |  | 4301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; COSES GT Co., Ltd. \* |  | 1 |  |  |  | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Channel Corporation |  | 16906 |  | 3235 |  |  |  | 20141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MitoImmune Therapeutics |  | 7000 |  |  |  | (5426) |  | 1574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bioprotect Ltd. |  | 4474 |  | 154 |  |  |  | 4628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASSEMBLE CORPORATION |  | 6155 |  | 21 |  | (155) |  | 6021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Go2joy Co., Ltd. |  | 1200 |  |  |  |  |  | 1200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S&E Bio Co., Ltd. |  | 4013 |  | 2016 |  | (13) |  | 6016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bluepointpartners Inc. |  | 1874 |  |  |  | (238) |  | 1636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xenohelix Co., Ltd. |  | 3100 |  | 4 |  |  |  | 3104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contents First Inc. |  | 17642 |  | 7001 |  | (1365) |  | 23278 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.3 Details of significant lending transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Loan** | **Loan** | **Collection** | **Collection** | **Ending** | **Ending** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-MDI Centauri Fund LP | W | 18993 | W | 2065 | W |  | W | 21058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OKXE Inc. |  | 800 |  | 1922 |  |  |  | 2722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Checkmate Therapeutics Inc. |  | 3200 |  |  |  |  |  | 3200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newavel Co., Ltd |  | 3013 |  | 20 |  | (3013) |  | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IMBiologics Corp. |  | 7005 |  | 2 |  | (5) |  | 7002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spark Biopharma Inc. |  | 7467 |  | 15 |  | (2833) |  | 4649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pin Therapeutics Inc. |  | 5011 |  | 2029 |  | (11) |  | 7029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hibiscus Fund LP |  | 12915 |  | 1802 |  |  |  | 14717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SuperNGine Co., Ltd. |  | 2599 |  | 2 |  | (123) |  | 2478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Desilo Inc. |  | 3468 |  |  |  |  |  | 3468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMG-KB BioAccess Fund L.P. |  | 5036 |  | 4343 |  |  |  | 9379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMG-KB BP Management Ltd. |  | 174 |  | 170 |  |  |  | 344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IGGYMOB Co., Ltd. |  | 5007 |  |  |  | (5007) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turing Co., Ltd. |  | 4901 |  |  |  | (1001) |  | 3900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kukka Co., Ltd. \* |  | 2490 |  |  |  |  |  | 2490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZIPDOC Inc. \* |  | 2000 |  |  |  | (2000) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gushcloud Talent Agency |  | 3688 |  |  |  | (3688) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grinergy Co., Ltd. \* |  | 6486 |  | 1 |  | (6486) |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NexThera Co., Ltd. |  | 3000 |  |  |  |  |  | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chabot Mobility Co., Ltd. \* |  | 2000 |  | 580 |  |  |  | 2580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TeamSparta Inc. \* |  | 4308 |  | 5 |  | (307) |  | 4006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FutureConnect Co., Ltd. \* |  | 1499 |  |  |  |  |  | 1499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wemade Connect Co., Ltd. |  | 12337 |  | 29 |  | (4871) |  | 7495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TMAP Mobility Co., Ltd. |  | 106 |  | 73 |  | (106) |  | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spoonlabs Co., Ltd. \* |  | 19506 |  |  |  | (4500) |  | 15006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neuroptika Inc. |  | 5879 |  |  |  |  |  | 5879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bigwave Robotics Corp. |  | 2781 |  | 39 |  | (31) |  | 2789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Blinkers Inc. \* |  | 999 |  |  |  | (999) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3D Interactive Co., Ltd. |  | 2342 |  | 6 |  | (42) |  | 2306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XL8 INC. |  | 5148 |  | 721 |  |  |  | 5869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elev8-Capital Fund I |  | 6656 |  | 9594 |  |  |  | 16250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIM FUTURE, Inc. |  | 2900 |  | 8 |  |  |  | 2908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Daegu Busan Expressway Co., Ltd. |  | 72742 |  | 27 |  | (48505) |  | 24264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novorex Inc. |  | 2000 |  | 8 |  |  |  | 2008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Logpresso Inc. |  |  |  | 3031 |  |  |  | 3031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Onheal Co., Ltd. |  |  |  | 10000 |  |  |  | 10000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ascent Global Fund III |  |  |  | 3767 |  |  |  | 3767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DYNE MEDICAL GROUP Inc. |  |  |  | 5023 |  |  |  | 5023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TriOar Inc. |  |  |  | 3016 |  |  |  | 3016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coxwave Co., Ltd. |  |  |  | 3000 |  |  |  | 3000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SDT Inc. |  |  |  | 3105 |  |  |  | 3105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yeoulhyulgangho |  |  |  | 500 |  |  |  | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ADPGREEN |  |  |  | 25 |  |  |  | 25 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.3 Details of significant lending transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Loan** | **Loan** | **Collection** | **Collection** | **Ending** | **Ending** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xpanner Inc | W |  | W | 9673 | W |  | W | 9673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GCSM Holdings Limited |  |  |  | 9506 |  |  |  | 9506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qoala \* |  |  |  | 6554 |  |  |  | 6554 |
|  **Key management personnel** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Key management personnel |  | 5490 |  | 7245 |  | (5610) |  | 7125 |

---

\* Excluded from the Group's related party as of December 31, 2025.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.4 Details of significant borrowing transactions with related parties for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Borrowing** | **Borrowing** | **Repayment** | **Repayment** | **Others <sup>1</sup>** | **Others <sup>1</sup>** | **Ending** | **Ending** |
|  **Associates and joint ventures** | **Associates and joint ventures** | **Associates and joint ventures** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea Credit Bureau Co., Ltd. | W | 40570 | W | 1000 | W |  | W | (4602) | W | 36968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incheon Bridge Co., Ltd. |  | 43867 |  | 66100 |  | (39500) |  | 3 |  | 70470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jungdo Co., Ltd. |  | 4 |  |  |  |  |  |  |  | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iwon Alloy Co., Ltd. |  | 2 |  |  |  |  |  | (2) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Skydigital Inc. |  | 30 |  |  |  |  |  | (29) |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aju Good Technology Venture Fund |  | 1809 |  |  |  |  |  | (1770) |  | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-KDBC Pre-IPO New Technology Business Investment Fund |  | 39 |  |  |  |  |  | 231 |  | 270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WJ Private Equity Fund No.1 |  | 46 |  |  |  |  |  | (10) |  | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.21 Special Purpose Acquisition Company<sup>2</sup> |  | 2247 |  |  |  | (2115) |  | (132) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.25 Special Purpose Acquisition Company |  | 1545 |  | 3016 |  | (3045) |  | 88 |  | 1604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.26 Special Purpose Acquisition Company<sup>2</sup> |  | 1763 |  |  |  | (110) |  | (1653) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.27 Special Purpose Acquisition Company |  | 4613 |  | 4600 |  | (4532) |  | (6) |  | 4675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.28 Special Purpose Acquisition Company<sup>2</sup> |  | 1910 |  |  |  |  |  | (1910) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.29 Special Purpose Acquisition Company |  | 2338 |  | 2148 |  | (2100) |  | (38) |  | 2348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.30 Special Purpose Acquisition Company |  | 1786 |  | 1535 |  | (1500) |  | (33) |  | 1788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.31 Special Purpose Acquisition Company |  | 2352 |  | 2000 |  | (2000) |  | (42) |  | 2310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.32 Special Purpose Acquisition Company |  |  |  | 2000 |  |  |  | 315 |  | 2315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.33 Special Purpose Acquisition Company |  |  |  | 2400 |  |  |  | 435 |  | 2835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RAND Bio Science Co., Ltd. <sup>2</sup> |  | 4 |  |  |  |  |  | (4) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food Factory Co., Ltd. |  | 907 |  |  |  |  |  | (303) |  | 604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Big Dipper Co., Ltd. |  | 123 |  |  |  |  |  | (72) |  | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyatt Co., Ltd. <sup>2</sup> |  | 1 |  |  |  |  |  | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CellinCells Co., Ltd. <sup>2</sup> |  | 13 |  |  |  |  |  | (13) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASSEMBLE CORPORATION |  | 18 |  |  |  |  |  | 1 |  | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S&E Bio Co., Ltd. |  | 772 |  | 1180 |  | (1180) |  | (548) |  | 224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4N Inc. |  | 4 |  |  |  |  |  | (4) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contents First Inc. |  | 729 |  |  |  |  |  | (596) |  | 133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newavel Co., Ltd |  |  |  |  |  |  |  | 1 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pin Therapeutics Inc. |  | 11133 |  | 2000 |  | (12000) |  | (283) |  | 850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spark Biopharma Inc. |  | 4759 |  | 10016 |  | (13113) |  | (517) |  | 1145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SuperNGine Co., Ltd. |  | 217 |  |  |  |  |  | (66) |  | 151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Desilo Inc. |  | 3 |  |  |  | (1) |  |  |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turing Co., Ltd. |  | 819 |  |  |  |  |  | 68 |  | 887 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.4 Details of significant borrowing transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Beginning** | **Beginning** | **Borrowing** | **Borrowing** | **Repayment** | **Repayment** | **Others <sup>1</sup>** | **Others <sup>1</sup>** | **Ending** | **Ending** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TMAP Mobility Co., Ltd. | W | 100010 | W | 344626 | W | (445626) | W | 991 | W | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nextrade Co., Ltd. |  | 15281 |  |  |  | (15000) |  | (3) |  | 278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZIPDOC Inc.<sup>2</sup> |  | 1 |  |  |  |  |  | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TeamSparta Inc.<sup>2</sup> |  | 18635 |  |  |  | (1000) |  | (17635) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chabot Mobility Co., Ltd.<sup>2</sup> |  | 631 |  |  |  | (300) |  | (331) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wemade Connect Co., Ltd. |  | 5465 |  | 9069 |  | (10000) |  | 991 |  | 5525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Channel Corporation |  | 6 |  |  |  |  |  | (6) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bitgoeul Cheomdan Green 1st Co., Ltd. |  | 1239 |  |  |  |  |  | 3 |  | 1242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bigwave Robotics Corp. |  | 501 |  |  |  | (501) |  | 364 |  | 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3D Interactive Co., Ltd. |  | 1779 |  |  |  |  |  | (1731) |  | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIM FUTURE, Inc. |  | 760 |  |  |  |  |  | (620) |  | 140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Daegu Busan Expressway Co., Ltd. |  | 150007 |  | 61000 |  | (130500) |  | 34894 |  | 115401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novorex Inc. |  | 6 |  |  |  |  |  | 9668 |  | 9674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xenohelix Co., Ltd. |  | 302 |  |  |  |  |  | (262) |  | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ADP Holdings Co., Ltd. |  | 2058 |  | 10496 |  | (12293) |  | 2 |  | 263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ADPGREEN |  | 1802 |  | 12200 |  | (8650) |  | (50) |  | 5302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Logpresso Inc. |  | 457 |  | 8374 |  | (974) |  | (281) |  | 7576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DYNE MEDICAL GROUP Inc. |  | 3813 |  | 3800 |  | (6300) |  | (957) |  | 356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Onheal Co., Ltd. |  | 5001 |  |  |  |  |  | (5001) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TriOar Inc. |  | 6054 |  | 4000 |  | (7000) |  | 1034 |  | 4088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yeoulhyulgangho |  | 456 |  | 1860 |  | (1560) |  | 27 |  | 783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allra Fintech Corp. |  | 1671 |  | 2000 |  | (3000) |  | (638) |  | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Koru Pharma Co., Ltd. |  |  |  | 300 |  | (200) |  | 97 |  | 197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emocog Inc. |  |  |  | 4000 |  | (4000) |  | 704 |  | 704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WhaTap Laps Inc. |  |  |  |  |  |  |  | 2814 |  | 2814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aldaver |  |  |  | 1638 |  | (1632) |  | 815 |  | 821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lemontree Inc. |  |  |  |  |  |  |  | 536 |  | 536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; enParticle Co., Ltd |  |  |  |  |  |  |  | 1696 |  | 1696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ANTIGRAVITY |  |  |  |  |  |  |  | 82 |  | 82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FineKB Private Equity Fund No.1 |  |  |  | 1000 |  | (1000) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ByL |  |  |  | 5000 |  | (2000) |  | 5968 |  | 8968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; eRoun & company Co., Ltd |  |  |  |  |  |  |  | 1127 |  | 1127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Inc. |  |  |  |  |  |  |  | 51 |  | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RUMIKEU Holdings Inc. |  |  |  |  |  |  |  | 11 |  | 11 |
|  **Key management personnel** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Key management personnel |  | 15365 |  | 26948 |  | (28201) |  | (1372) |  | 12740 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.4 Details of significant borrowing transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Borrowing** | **Borrowing** | **Repayment** | **Repayment** | **Others <sup>1</sup>** | **Others <sup>1</sup>** | **Ending** | **Ending** |
|  **Associates and joint ventures** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea Credit Bureau Co., Ltd. | W | 17003 | W |  | W |  | W | 23567 | W | 40570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incheon Bridge Co., Ltd. |  | 40992 |  | 72000 |  | (74300) |  | 5175 |  | 43867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jungdo Co., Ltd. |  | 4 |  |  |  |  |  |  |  | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dae-A Leisure Co., Ltd. |  | 150 |  |  |  |  |  | (150) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Iwon Alloy Co., Ltd. |  | 1 |  |  |  |  |  | 1 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Skydigital Inc. |  | 65 |  |  |  |  |  | (35) |  | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aju Good Technology Venture Fund |  | 1202 |  |  |  |  |  | 607 |  | 1809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-KDBC Pre-IPO New Technology Business Investment Fund |  | 46 |  |  |  |  |  | (7) |  | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WJ Private Equity Fund No.1 |  | 103 |  |  |  |  |  | (57) |  | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.21 Special Purpose Acquisition Company <sup>2</sup> |  | 2261 |  | 2115 |  | (2050) |  | (79) |  | 2247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.22 Special Purpose Acquisition Company <sup>2</sup> |  | 1848 |  |  |  |  |  | (1848) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.25 Special Purpose Acquisition Company |  | 1586 |  | 1545 |  | (1500) |  | (86) |  | 1545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.26 Special Purpose Acquisition Company <sup>2</sup> |  | 1761 |  | 1724 |  | (1670) |  | (52) |  | 1763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.27 Special Purpose Acquisition Company |  | 4497 |  | 4532 |  | (4390) |  | (26) |  | 4613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.28 Special Purpose Acquisition Company <sup>2</sup> |  |  |  | 1890 |  |  |  | 20 |  | 1910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.29 Special Purpose Acquisition Company |  |  |  | 2100 |  |  |  | 238 |  | 2338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.30 Special Purpose Acquisition Company |  |  |  | 1500 |  |  |  | 286 |  | 1786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB No.31 Special Purpose Acquisition Company |  |  |  | 2000 |  |  |  | 352 |  | 2352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RAND Bio Science Co., Ltd. <sup>2</sup> |  | 4 |  |  |  |  |  |  |  | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food Factory Co., Ltd. |  | 629 |  |  |  |  |  | 278 |  | 907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Big Dipper Co., Ltd. |  | 40 |  |  |  |  |  | 83 |  | 123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wyatt Co., Ltd. <sup>2</sup> |  | 1 |  |  |  |  |  |  |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CellinCells Co., Ltd. <sup>2</sup> |  | 37 |  |  |  |  |  | (24) |  | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; COSES GT Co., Ltd. <sup>2</sup> |  | 1 |  |  |  |  |  | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASSEMBLE CORPORATION |  | 78 |  |  |  |  |  | (60) |  | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S&E Bio Co., Ltd. |  | 2342 |  | 990 |  | (1490) |  | (1070) |  | 772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4N Inc. |  | 49 |  |  |  |  |  | (45) |  | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contents First Inc. |  | 1072 |  |  |  |  |  | (343) |  | 729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newavel Co., Ltd |  | 46 |  |  |  |  |  | (46) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pin Therapeutics Inc. |  | 265 |  | 14000 |  | (4000) |  | 868 |  | 11133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spark Biopharma Inc. |  | 11419 |  | 32649 |  | (38908) |  | (401) |  | 4759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SuperNGine Co., Ltd. |  | 69 |  |  |  |  |  | 148 |  | 217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Desilo Inc. |  | 3 |  |  |  |  |  |  |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turing Co., Ltd. |  | 1726 |  | 1000 |  | (1700) |  | (207) |  | 819 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.4 Details of significant borrowing transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Beginning** | **Beginning** | **Borrowing** | **Borrowing** | **Repayment** | **Repayment** | **Others <sup>1</sup>** | **Others <sup>1</sup>** | **Ending** | **Ending** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TMAP Mobility Co., Ltd. | W | 80016 | W | 360000 | W | (340000) | W | (6) | W | 100010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KY Global Cell & Gene Private Equity Fund 2<sup>nd 2</sup> |  | 3790 |  | 2910 |  | (308) |  | (6392) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nextrade Co., Ltd. |  | 56203 |  | 6000 |  | (47200) |  | 278 |  | 15281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZIPDOC Inc. <sup>2</sup> |  | 181 |  |  |  |  |  | (180) |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TeamSparta Inc. <sup>2</sup> |  | 7672 |  | 3000 |  | (6000) |  | 13963 |  | 18635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chabot Mobility Co., Ltd. <sup>2</sup> |  | 164 |  | 300 |  |  |  | 167 |  | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wemade Connect Co., Ltd. |  | 8843 |  | 24056 |  | (27556) |  | 122 |  | 5465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Channel Corporation |  | 2030 |  |  |  | (2000) |  | (24) |  | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bitgoeul Cheomdan Green 1st Co., Ltd. |  | 833 |  |  |  |  |  | 406 |  | 1239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-FT Green Growth 1st Technology Investment Association |  | 700 |  |  |  | (700) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bigwave Robotics Corp. |  | 4 |  | 501 |  |  |  | (4) |  | 501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3D Interactive Co., Ltd. |  | 1501 |  |  |  |  |  | 278 |  | 1779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIM FUTURE, Inc. |  | 3393 |  | 1000 |  | (4000) |  | 367 |  | 760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Daegu Busan Expressway Co., Ltd. |  | 146169 |  | 104500 |  | (93932) |  | (6730) |  | 150007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novorex Inc. |  | 7 |  |  |  |  |  | (1) |  | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xenohelix Co., Ltd. |  | 904 |  |  |  |  |  | (602) |  | 302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ADP Holdings Co., Ltd. |  |  |  | 6094 |  | (4037) |  | 1 |  | 2058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ADPGREEN |  |  |  | 10551 |  | (9001) |  | 252 |  | 1802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Logpresso Inc. |  |  |  | 100 |  | (200) |  | 557 |  | 457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DYNE MEDICAL GROUP Inc. |  |  |  | 5150 |  | (7800) |  | 6463 |  | 3813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Onheal Co., Ltd. |  |  |  |  |  |  |  | 5001 |  | 5001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TriOar Inc. |  |  |  | 10500 |  | (8500) |  | 4054 |  | 6054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yeoulhyulgangho |  |  |  | 200 |  |  |  | 256 |  | 456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SDT Inc. |  |  |  |  |  | (1000) |  | 1000 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allra Fintech Corp. |  |  |  | 12500 |  | (19500) |  | 8671 |  | 1671 |
|  **Key management personnel** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Key management personnel |  | 15902 |  | 26709 |  | (22264) |  | (4982) |  | 15365 |

---

<sup>1</sup> Transactions between related parties, such as settlements arising from operating activities and deposits, are expressed in net amount. 

<sup>2</sup> Excluded from the Group's related party as of December 31, 2025.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.5 Details of significant investment and withdrawal transactions with related parties for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Equity<br>investment<br>and others** | **Equity<br>investment<br>and others** | **Withdrawal<br>and others** | **Withdrawal<br>and others** | **Equity<br>investment<br>and others** | **Equity<br>investment<br>and others** | **Withdrawal<br>and others** | **Withdrawal<br>and others** |
|  Balhae Infrastructure Company | W |  | W | 9321 | W |  | W | 6350 |
|  POSCO-KB Shipbuilding Fund |  |  |  | 250 |  |  |  |  |
|  KB-KDBC Pre-IPO New Technology Business Investment Fund |  |  |  | 3060 |  |  |  | 600 |
|  KB-SJ Tourism Venture Fund |  |  |  | 190 |  |  |  | 4030 |
|  Korea Credit Bureau Co., Ltd. |  |  |  | 90 |  |  |  | 90 |
|  KB-UTC Inno-Tech Venture Fund |  |  |  | 3786 |  |  |  | 338 |
|  KB-Solidus Global Healthcare Fund |  |  |  | 14437 |  |  |  | 700 |
|  KB-Stonebridge Secondary Private Equity Fund |  |  |  | 4944 |  |  |  | 1004 |
|  KB SPROTT Renewable Private Equity Fund No.1 |  |  |  | 8309 |  |  |  | 8349 |
|  KB-NAU Special Situation Corporate Restructuring Private Equity Fund |  | 3820 |  | 3918 |  | 8964 |  | 9629 |
|  2020 KB Fintech Renaissance Fund |  |  |  | 165 |  |  |  |  |
|  KB Material and Parts No.1 PEF \* |  |  |  |  |  |  |  | 3400 |
|  KB-TS Technology Venture Private Equity Fund |  | 41 |  |  |  | 125 |  | 2464 |
|  KB-Brain KOSDAQ Scale-up New Technology Business Investment Fund \* |  |  |  |  |  |  |  | 3915 |
|  Aju Good Technology Venture Fund |  |  |  | 780 |  |  |  | 2120 |
|  G payment Joint Stock Company |  |  |  | 135 |  |  |  | 6445 |
|  KB-KTB Technology Venture Fund |  |  |  | 224 |  | 5600 |  | 1 |
|  KB-SOLIDUS Healthcare Investment Fund |  | 24067 |  |  |  | 23270 |  | 65 |
|  Paramark KB Fund No.1 |  | 5490 |  | 411 |  | 8130 |  |  |
|  FineKB Private Equity Fund No.1 |  | 2335 |  | 11875 |  | 6790 |  | 1500 |
|  FineKB Private Equity Fund No.2 |  |  |  |  |  | 500 |  | 250 |
|  KB No.21 Special Purpose Acquisition Company \* |  |  |  | 10 |  |  |  |  |
|  KB No.22 Special Purpose Acquisition Company \* |  |  |  |  |  |  |  | 10 |
|  KB-SP Private Equity Fund IV \* |  |  |  | 2495 |  |  |  |  |
|  KB-BridgePole Venture Investment Fund \* |  |  |  |  |  |  |  | 136 |
|  KB-Kyobo New Mobility Power Fund \* |  |  |  |  |  |  |  | 3000 |
|  JS Private Equity Fund No.3 |  |  |  | 749 |  |  |  | 755 |
|  Star-Lord General Investors Private Real Estate Investment Company No.10 |  |  |  |  |  |  |  | 358 |
|  KB Co-Investment Private Equity Fund No.1 |  | 3887 |  | 3273 |  | 9131 |  | 3173 |
|  POSITIVE Sobujang Venture Fund No.1 |  |  |  | 879 |  |  |  | 1121 |
|  History 2022 Fintech Fund |  |  |  | 2000 |  |  |  |  |
|  KB-NP Green ESG New Technology Venture Capital Fund |  | 9626 |  | 2840 |  | 19800 |  |  |
|  KB-Badgers Future Mobility ESG Fund No.1 |  | 1350 |  | 248 |  | 10404 |  | 1071 |
|  Lakewood-AVES Fund No.1 \* |  |  |  |  |  |  |  | 2000 |
|  MW-Pyco NewWave New Technology Investment Fund 4th |  |  |  | 2000 |  |  |  |  |
|  KB No.26 Special Purpose Acquisition Company \* |  |  |  | 5 |  |  |  |  |
|  Bitgoeul Cheomdan Green 1st Co., Ltd. |  |  |  |  |  | 152 |  |  |
|  KB-SUSUNG 1st Investment Fund |  |  |  | 1419 |  |  |  | 1386 |
|  KB-SUSUNG 2nd Investment Fund |  |  |  |  |  | 2000 |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.5 Details of significant investment and withdrawal transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Equity<br>investment<br>and others** | **Equity<br>investment<br>and others** | **Withdrawal<br>and others** | **Withdrawal<br>and others** | **Equity<br>investment<br>and others** | **Equity<br>investment<br>and others** | **Withdrawal<br>and others** | **Withdrawal<br>and others** |
|  Friend 55 New Technology Business Investment Fund \* | W |  | W |  | W |  | W | 1200 |
|  DSIP-Pharos Bioenergy Fund \* |  |  |  |  |  |  |  | 4000 |
|  Shinhan-Eco Venture Fund 2nd |  | 25 |  | 190 |  | 225 |  |  |
|  2023 JB Newtech No.2 Fund |  |  |  | 1406 |  |  |  | 394 |
|  U-KB Credit No.1 Private Equity |  | 17133 |  | 191 |  | 591 |  |  |
|  KB No.28 Special Purpose Acquisition Company \* |  |  |  | 5 |  | 5 |  |  |
|  Timefolio Athleisure Investment Fund |  |  |  |  |  | 4000 |  |  |
|  COMPA Global Scale-Up Fund No.3 |  |  |  |  |  | 1000 |  |  |
|  AKK Robotech Valueup New Technology Investment Fund \* |  |  |  | 1000 |  | 1000 |  |  |
|  YG MCE PROJECT NO.1 Fund |  |  |  | 1500 |  | 1500 |  |  |
|  KB No.29 Special Purpose Acquisition Company |  |  |  |  |  | 10 |  |  |
|  KB No.30 Special Purpose Acquisition Company |  |  |  |  |  | 10 |  |  |
|  KB No.31 Special Purpose Acquisition Company |  |  |  |  |  | 10 |  |  |
|  KB No.32 Special Purpose Acquisition Company |  | 10 |  |  |  |  |  |  |
|  KB No.33 Special Purpose Acquisition Company |  | 160 |  |  |  |  |  |  |
|  THE CHAEUL FUND NO.1 \* |  |  |  | 1000 |  |  |  |  |
|  IMM global Secondary 1-1 Equity Private Fund |  | 756 |  | 162 |  | 2819 |  |  |
|  Elohim-Bilanx aerospace No.1 Fund |  |  |  |  |  | 2000 |  |  |
|  KB-CJ Venture Fund 1st |  |  |  |  |  | 1800 |  |  |
|  HI YG Win-win Fund No.2 |  |  |  |  |  | 2000 |  |  |
|  KB-VEP Contact Fund |  |  |  |  |  | 395 |  | 47 |
|  Reboot Private Equity Fund |  |  |  |  |  | 7000 |  |  |
|  LIB Material Investment Fund |  |  |  | 3221 |  | 4098 |  |  |
|  NOVORSEC-SJG Consumer Secondary Fund \* |  |  |  | 1700 |  | 1700 |  |  |
|  Allra Fintech Corp. |  | 128 |  |  |  | 8532 |  |  |
|  KB Global Commerce Private Equity Investment Fund \* |  |  |  |  |  |  |  | 7000 |
|  KB-SBI Global Strategic Capital Fund |  | 22830 |  |  |  | 11298 |  |  |
|  KB-Cyrus Tourism Venture Fund |  | 1000 |  |  |  | 1000 |  |  |
|  IBKS Design Fund |  |  |  |  |  | 2000 |  |  |
|  NICE DATA INTELLIGENCE VENTURE FUND \* |  |  |  | 1000 |  | 1000 |  |  |
|  Pectus Hanhwa Fund 2 \* |  |  |  | 2000 |  | 2000 |  |  |
|  KB-IMM New Star Real Estate Private Fund I |  | 29281 |  | 2627 |  | 31672 |  |  |
|  KB Rejuvenation Fund |  |  |  |  |  | 500 |  |  |
|  VIG Private Equity Fund V-3 |  | 3179 |  | 319 |  | 1636 |  |  |
|  KOENTEC Co. Ltd. \* |  |  |  | 107428 |  | 107428 |  |  |
|  E&I Holdings \* |  | 27300 |  | 27300 |  |  |  |  |
|  YG Al Industrial Automation Solutions FUND |  | 2000 |  |  |  |  |  |  |
|  KB-Novus Genesis Private Equity Fund |  | 2300 |  |  |  |  |  |  |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.5 Details of significant investment and withdrawal transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** |
| *(In millions of Korean won)* | **Equity<br>investment<br>and others** | **Equity<br>investment<br>and others** | **Withdrawal<br>and others** | **Withdrawal<br>and others** | **Equity<br>investment<br>and others** | **Withdrawal<br>and others** |
|  Semicolon Susong REITs Co., Ltd. | W | 88552 | W | 857 | W | W |
|  KB-LB Middle Market Enterprises Innovation Private Equity Fund |  | 8140 |  | 69 |  |  |
|  ATP TP VC Fund No.1 |  | 2000 |  |  |  |  |
|  AIM-KB-DOUBLE Connected Future Investment Fund |  | 1000 |  |  |  |  |
|  KB-IMM New Star Real Estate Private Fund II |  | 26337 |  | 37 |  |  |
|  K-1 23rd yeoksam Real Estate Investment Trust company Ltd. |  | 16050 |  |  |  |  |
|  IMM Korea Beauty Co-Invest Private Equity Fund |  | 50000 |  |  |  |  |
|  KB-GVA Premier Mezzanine Investment Fund |  | 500 |  |  |  |  |
|  KB-ANDA Deep Tech Venture Fund |  | 1250 |  |  |  |  |
|  KB a2z 2025 Fund |  | 110 |  |  |  |  |
|  DAYLI Fountainhead Blind Private Equity Fund II |  | 11250 |  |  |  |  |
|  Meritz-Hyundai Investment Real Estate Strategy No.1 Private Equity Fund |  | 92647 |  |  |  |  |
|  Smart Korea KB Future9-Sejong Venture Fund |  | 2000 |  | 8 |  |  |

---

\* Excluded from the Group's related party as of December 31, 2025.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.6 Unused commitments provided to related parties as of December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won or in a US Dollar or Malaysian ringgit or the Indonesian Rupiah)* | *(In millions of Korean won or in a US Dollar or Malaysian ringgit or the Indonesian Rupiah)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  **Associates and joint ventures** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Balhae Infrastructure Company | Purchase of securities | W | 6154 | W | 6154 |
|  | Loan commitments in Korean won |  | 65000 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Korea Credit Bureau Co., Ltd. | Unused lines of credit for credit card |  | 559 |  | 565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incheon Bridge Co., Ltd. | Loan commitments in Korean won |  | 20000 |  | 20000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TeamSparta Inc. \* | Unused lines of credit for credit card |  | 85 |  | 88 |
|  | Loan commitments in Korean won |  |  |  | 1000 |
|  | Unused lines of credit for credit card |  | 1 |  | 696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3D Interactive Co., Ltd. | Unused lines of credit for credit card |  | 23 |  | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food Factory Co., Ltd. | Unused lines of credit for credit card |  | 45 |  | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CellinCells Co., Ltd. \* | Unused lines of credit for credit card |  | 9 |  | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RAND Bio Science Co., Ltd. \* | Unused lines of credit for credit card |  |  |  | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Big Dipper Co., Ltd. | Unused lines of credit for credit card |  | 21 |  | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASSEMBLE CORPORATION | Unused lines of credit for credit card |  | 3 |  | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; COSES GT Co., Ltd. \* | Unused lines of credit for credit card |  |  |  | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spark Biopharma Inc. | Unused lines of credit for credit card |  | 27 |  | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Newavel Co., Ltd | Unused lines of credit for credit card |  |  |  | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IMBiologics Corp. | Unused lines of credit for credit card |  | 10 |  | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SuperNGine Co., Ltd. | Unused lines of credit for credit card |  | 24 |  | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IGGYMOB Co., Ltd. | Unused lines of credit for credit card |  |  |  | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pin Therapeutics Inc. | Unused lines of credit for credit card |  | 30 |  | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grinergy Co., Ltd. | Unused lines of credit for credit card |  | 4 |  | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S&E Bio Co., Ltd. | Unused lines of credit for credit card |  | 41 |  | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wemade Connect Co., Ltd. | Unused lines of credit for credit card |  | 68 |  | 121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TMAP Mobility Co., Ltd. | Unused lines of credit for credit card |  | 701 |  | 744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contents First Inc. | Unused lines of credit for credit card |  | 80 |  | 35 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.6 Unused commitments provided to related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won or in a US Dollar or Malaysian ringgit or the Indonesian Rupiah)* | *(In millions of Korean won or in a US Dollar or Malaysian ringgit or the Indonesian Rupiah)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allra Fintech Corp. | Unused lines of credit for credit card | W | 24 | W | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bigwave Robotics Corp. | Unused lines of credit for credit card |  | 40 |  | 61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Daegu Busan Expressway Co., Ltd. | Unused lines of credit for credit card |  | 3 |  | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIM FUTURE, Inc. | Unused lines of credit for credit card |  | 37 |  | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novorex Inc. | Unused lines of credit for credit card |  | 22 |  | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xenohelix Co., Ltd. | Unused lines of credit for credit card |  | 5 |  | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ADPGREEN | Unused lines of credit for credit card |  | 27 |  | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Logpresso Inc. | Unused lines of credit for credit card |  | 20 |  | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DYNE MEDICAL GROUP Inc. | Unused lines of credit for credit card |  | 117 |  | 135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TriOar Inc. | Unused lines of credit for credit card |  | 38 |  | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-CJ Venture Fund 1st | Purchase of securities |  | 4200 |  | 4200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-Stonebridge Secondary Private Equity Fund | Purchase of securities |  | 173 |  | 173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-NAU Special Situation Corporate Restructuring Private Equity Fund | Purchase of securities |  | 924 |  | 4524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All Together Korea Fund No.2 (Stock-FoFs) | Purchase of securities |  | 990000 |  | 990000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-SOLIDUS Healthcare Investment Fund | Purchase of securities |  |  |  | 23569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB Co-Investment Private Equity Fund No.1 | Purchase of securities |  | 1285 |  | 4393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-Badgers Future Mobility ESG Fund No.1 | Purchase of securities |  | 25569 |  | 26920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-NP Green ESG New Technology Venture Capital Fund | Purchase of securities |  | 1050 |  | 9750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FineKB Private Equity Fund No.1 | Purchase of securities |  |  |  | 2335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-Solidus Global Healthcare Fund | Commitments on loss absorption priority |  | 4500 |  | 4500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paramark KB Fund No.1 | Purchase of securities |  | 870 |  | 6360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smart Korea KB Future9-Sejong Venture Fund | Purchase of securities |  |  |  | 2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shinhan-Eco Venture Fund 2nd | Purchase of securities |  | 425 |  | 450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U-KB Credit No.1 Private Equity | Purchase of securities |  | 18566 |  | 35700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-Cyrus Tourism Venture Fund | Purchase of securities |  | 3000 |  | 4000 |

---

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.6 Unused commitments provided to related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won or in a US Dollar or Malaysian ringgit or the Indonesian Rupiah)* | *(In millions of Korean won or in a US Dollar or Malaysian ringgit or the Indonesian Rupiah)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-SBI Global Strategic Capital Fund | Purchase of securities | W | 32888 | W | 55702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-IMM New Star Real Estate Private Fund I | Purchase of securities |  | 13164 |  | 42442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIG Private Equity Fund V-3 | Purchase of securities |  | 5503 |  | 8364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-IMM New Star Real Estate Private Fund II | Purchase of securities |  | 40663 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IMM global Secondary 1-1 Equity Private Fund | Purchase of securities |  | 10847 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-LB Middle Market Enterprises Innovation Private Equity Fund | Purchase of securities |  | 18073 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB-ANDA Deep Tech Venture Fund | Purchase of securities |  | 6251 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DAYLI Fountainhead Blind Private Equity Fund II | Purchase of securities |  | 28056 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meritz-Hyundai Investment Real Estate Strategy No.1 Private Equity Fund | Purchase of securities |  | 57353 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nextrade Co., Ltd. | Unused lines of credit for credit card |  | 369 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aldaver | Unused lines of credit for credit card |  | 10 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ANTIGRAVITY | Unused lines of credit for credit card |  | 4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lemontree Inc. | Unused lines of credit for credit card |  | 49 |  |  |
|  | Loan commitments in Korean won |  | 450 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WhaTap Laps Inc. | Unused lines of credit for credit card |  | 59 |  |  |
|  | Loan commitments in Korean won |  | 2000 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Inc. | Unused lines of credit for credit card |  | 8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMGP Bio-Pharma Investment Fund, L.P. | Purchase of securities | USD | 2693142 | USD | 2693142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMGP Bio-Pharma Investment, L.P. | Purchase of securities | USD | 8470 | USD | 8470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMG-KB BP Management Ltd. | Purchase of securities | USD | 446888 | USD | 556617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RMG-KB BioAccess Fund L.P. | Purchase of securities | USD | 16951197 | USD | 21113820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elev8-Capital Fund I | Purchase of securities | IDR | 1787096277 | IDR | 1787096277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ascent Global Fund III LP | Purchase of securities | USD | 22437479 | USD | 32437479 |
|  **Key management personnel** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Key management personnel | Loan commitments in Korean won |  | 1898 |  | 3011 |

---

\* Excluded from the Group's related party as of December 31, 2025.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

43.7 Details of compensation to key management personnel for the years ended December 31, 2025 and 2024, are as follows:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
|  | **Short-term<br>employee<br>benefits** | **Short-term<br>employee<br>benefits** | **Post-<br>employment<br>benefits** | **Post-<br>employment<br>benefits** | **Share-based<br>payments** | **Share-based<br>payments** | **Total** | **Total** |
|  Registered directors (executive) | W | 7002 | W | 1041 | W | 18478 | W | 26521 |
|  Registered directors (non-executive) |  | 1094 |  |  |  |  |  | 1094 |
|  Non-registered directors |  | 14857 |  | 577 |  | 30107 |  | 45541 |
|  | W | 22953 | W | 1618 | W | 48585 | W | 73156 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Short-term<br>employee<br>benefits** | **Short-term<br>employee<br>benefits** | **Post-<br>employment<br>benefits** | **Post-<br>employment<br>benefits** | **Share-based<br>payments** | **Share-based<br>payments** | **Total** | **Total** |
|  Registered directors<br> (executive) | W | 7196 | W | 915 | W | 14726 | W | 22837 |
|  Registered directors<br> (non-executive) |  | 1081 |  |  |  |  |  | 1081 |
|  Non-registered directors |  | 18451 |  | 480 |  | 29236 |  | 48167 |
|  | W | 26728 | W | 1395 | W | 43962 | W | 72085 |

---

43.8 Details of collateral provided by related parties as of December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Assets held as collateral** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  **Key management personnel** | Time deposits and others | W | 693 | W | 1437 |
|  | Real estate |  | 8486 |  | 8092 |

---

As of December 31, 2025, Incheon Bridge Co., Ltd. a related party, provides fund management account, civil engineering works insurance, and management and operations rights as senior collateral amounting to W611,000 million to the project financing group consisting of the Group and 5 other institutions, and as subordinated collateral amounting to W384,800 million to subordinated debt holders consisting of the Group and 2 other institutions. Also, it provides certificate of credit guarantee amounting to W400,000 million as collateral to the project financing group consisting of the Group and 5 other institutions.

------

**KB Financial Group Inc. and Subsidiaries** 

**Notes to the Consolidated Financial Statements** 

**December 31, 2025 and 2024** 

**44. Events after the reporting period** 

Pursuant to the Board resolution dated February 5, 2026, the Group plans to acquire treasury shares amounting to W600,000 million on the Stock Exchange market and cancel them by April 20, 2026.

**45. Approval of Issuance of the Consolidated Financial Statements** 

The issuance of the Group's consolidated financial statements as of and for the year ended December 31, 2025, was initially approved on February 5, 2026 and re-approved due to revision on March 5, 2026 by the Board of Directors.

------

**Independent Auditor's Report on** 

**Internal Control over Financial Reporting for Consolidation Purposes** 

(English Translation of a Report Originally Issued in Korean)

To the Shareholders and the Board of Directors of

KB Financial Group Inc.

*Opinion on Internal Control over Financial Reporting for Consolidation Purposes* 

We have audited Internal Control over Financial Reporting (ICFR) of KB Financial Group Co., Ltd. and its subsidiaries (collectively referred to as the "Group") for consolidation purposes as at December 31, 2025, based on *Conceptual Framework for Designing and Operating Internal Control over Financial Reporting*.

In our opinion, the Group maintained, in all material respects, effective ICFR for consolidation purposes as at December 31, 2025, based on *Conceptual Framework for Designing and Operating Internal Control over Financial Reporting*.

We also have audited, in accordance with Korean Standards on Auditing, the consolidated financial statements of the Group, which comprise the consolidated statement of financial position as at December 31, 2025, and the consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flow for the year then ended, and notes to the consolidated financial statements including material accounting policy information, and our report dated March 6, 2026 expressed an unqualified opinion.

*Basis for Opinion on Internal Control over Financial Reporting for Consolidation Purposes* 

We conducted our audit in accordance with Korean Standards on Auditing. Our responsibility under these standards are further described in the *Auditor's Responsibilities for the Audit of Internal Control over Financial Reporting for consolidation purposes section of our report*. We are independent of the Group in accordance with the ethical requirements of the Republic of Korea that are relevant to our audit of ICFR for consolidation purposes and we have fulfilled our other ethical responsibilities in accordance with the ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

*Responsibilities of Management and Those Charged with Governance for Internal Control over Financial Reporting for Consolidation Purposes* 

Management is responsible for designing, implementing and maintaining effective ICFR for consolidation purposes, and for its assessment about the effectiveness of ICFR for consolidation purposes, included in the accompanying 'Operating Status Report of Internal Control over Financial Reporting for Consolidation Purposes'.

Those charged with governance have the responsibilities for overseeing ICFR for consolidation purposes.

*Auditor's Responsibilities for the Audit of Internal Control over Financial Reporting for Consolidation Purposes* 

Our responsibility is to express an opinion on ICFR for consolidation purposes of the Group based on our audit. We conducted the audit in accordance with Korean Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective ICFR for consolidation purposes was maintained in all material respects.

------

An audit of ICFR for consolidation purposes involves performing procedures to obtain audit evidence about whether a material weakness exists. The procedures selected depend on the auditor's judgment, including the assessment of the risks that a material weakness exists. An audit includes obtaining an understanding of ICFR for consolidation purposes and testing and evaluating the design and operating effectiveness of ICFR for consolidation purposes based on the assessed risk.

*Definition and Inherent Limitations of Internal Control over Financial Reporting for Consolidation Purposes* 

The Group's ICFR for consolidation purposes is a process effected by those charged with governance, management, and other personnel, designed to provide reasonable assurance regarding the preparation of reliable consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea. The Group's ICFR for consolidation purposes includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the entity; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea, and that receipts and expenditures of the Group are being made only in accordance with authorizations of management and directors of the Group; and (3) provide reasonable assurance regarding prevention, or timely detection and correction of unauthorized acquisition, use, or disposition of the entity's assets that could have a material effect on the consolidated financial statements.

Because of its inherent limitations, ICFR for consolidation purposes may not prevent, or detect and correct, misstatements. Also, projections of any assessment of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

The engagement partner on the audit resulting in this independent auditor's report is Hee-Won Seo, Certified Public Accountant.

/s/ Samil PricewaterhouseCoopers

Seoul, Korea

March 6, 2026

This report is effective as at March 6, 2026, the audit report date. Certain subsequent events or circumstances, which may occur between the audit report date and the time of reading this report, could have a material impact on the Group's ICFR for consolidation purposes thereto. Accordingly, the readers of the audit report should understand that there is a possibility that the above audit report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

------

**Operating Status Report of** 

**the Internal Control over Financial Reporting for Consolidation Purposes** 

To the Shareholder, Board of Directors and Audit Committee of KB Financial Group Inc.

We, as the Chief Executive Officer and the Internal Accounting Manager of KB Financial Group Inc. ("the Company"), assessed operating status of the Company's Internal Control over Financial Reporting for Consolidation Purposes("ICFR") for the year ending December 31, 2025.

Design and operation of ICFR is the responsibility of the Company's management, including the Chief Executive Officer and the Internal Accounting Manager (collectively, "We", "Our" or "Us").

We evaluated whether the Company effectively designed and operated its ICFR to prevent and detect errors or frauds which may cause a misstatement in consolidated financial statements to ensure preparation and disclosure of reliable consolidated financial information.

We used the 'Conceptual Framework for Designing and Operating Internal Control over Financial Reporting' established by the Operating Committee of Internal Control over Financial Reporting in Korea (the "ICFR Committee") as the criteria for design and operation of the Company's ICFR. And we conducted an evaluation of ICFR based on the Appendix 6 'Standards for Evaluating and Reporting on Internal Control over Financial Reporting' for the Detailed Enforcement Rule of the Regulation on External Audit and Accounting.

Based on our assessment, we concluded that the Company's ICFR is designed and operated effectively as of December 31, 2025, in all material respects, in accordance with the 'Conceptual Framework for Designing and Operating Internal Control over Financial Reporting'.

We certify that this report does not contain any untrue statement of a fact, or omit to state a fact necessary to be presented herein. We also certify that this report does not contain or present any statements which might cause material misunderstandings of the readers, and we have reviewed and verified this report with sufficient care.

[Attachment] Internal Control Activities Performed by the Group to Respond to Fraud Risks Related to Misappropriation of Funds

March 5, 2026

Jong Hee Yang,

Chief Executive Officer

Sang Rok Na,

Internal Accounting Manager

------

**[Attachment] Internal Control Activities Performed by the Group to Respond to Fraud Risks Related to Misappropriation of Funds** 

KB Financial Group Inc. and its subsidiaries (the "Group") design and operate Internal Control over Financial Reporting ("ICFR") in accordance with the <sup>é</sup>Conceptual Framework for Designing and Operating of Internal Control over Financial Reporting<sub>û</sub>, including programs for safeguarding of assets and fraud prevention to ensure the reliability of financial statements.

The control activities performed by the Group below summarize 'the key control activities that are directly related to preventing or detecting fraud risks related to misappropriation of funds and others.' among the controls designed for ICFR.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Subject**<br> **Companies** | **Results of Design and Operating**<br> **Effectiveness Testing**<br> (Subject company, Performing department,<br>Timing of performance, etc.) |
| &nbsp;&nbsp;&nbsp;**Entity-level controls** <br>Executive officers and Employees submit a pledge of practice and compliance with the Code of Ethics posted on the internal network system, and compliance function department<sup>1)</sup> operate a system to identify and monitor executive officers' and employees' violations of laws and codes of conduct.<br><sup>1)</sup> KB Financial Group Inc.'s Compliance Department, Kookmin Bank's Compliance Initiative Department, etc. | KB Financial Group Inc., Kookmin Bank and 13 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 13 other companies, Compliance Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Entity-level controls** <br>Potential issues embedded in the organization are identified and improved and supplemented by reviewing the risk factors of each unit organization and whether control procedures are implemented. For this purpose, the Risk Management Department, etc.<sup>1)</sup> operate procedures such as the integrated self-assessment of internal control and operational risk, and the risk assessment of Internal Control over Financial Reporting.<br><sup>1)</sup> KB Financial Group Inc.'s Risk Management Department, Kookmin Bank's Risk Management Department, etc. | KB Financial Group Inc., Kookmin Bank and 13 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 13 other companies, Risk Management Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Subject**<br> **Companies** | **Results of Design and Operating**<br> **Effectiveness Testing**<br> (Subject company, Performing department,<br>Timing of performance, etc.) |
| &nbsp;&nbsp;&nbsp;**Entity-level controls** <br>The Internal Audit Department, etc.<sup>1)</sup> operate a proper reporting system for internal control and accounting fraud, etc., and manage reporting channels to maintain confidentiality of whistleblowers and to prevent disadvantage and discrimination against whistleblowers.<br><sup>1)</sup> KB Financial Group Inc.'s Audit Department, Kookmin Bank's Head Office Audit Department, etc. | KB Financial Group Inc., Kookmin Bank and 13 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 13 other companies, Audit Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Entity-level controls** <br>The Audit Committee oversees and ensures the Internal Audit Department<sup>1)</sup> to operate as an independent position within the organization by overseeing internal audit activities, and the Internal Audit Department<sup>1)</sup> has audit methodologies and reporting procedures to enhance the efficiency and objectivity of audit activities.<br><sup>1)</sup> KB Financial Group Inc.'s Audit Department, Kookmin Bank's Head Office Audit Department, etc. | KB Financial Group Inc., Kookmin Bank and 13 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 13 other companies, Audit Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Entity-level controls** <br>Compliance function department, etc.<sup>1)</sup> assess the possibility and risk of major violations of laws and regulations and incident occurrence and perform ongoing monitoring procedures (continuous audit, compliance monitoring, special inspection, etc.).<br><sup>1)</sup> KB Financial Group Inc.'s Compliance Department, Kookmin Bank's Compliance Initiative Department, etc. | KB Financial Group Inc., Kookmin Bank and 13 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 13 other companies, Compliance Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Entity-level controls** <br>The department responsible for managing the rules on authorized approval, etc.<sup>1)</sup> clarifies job authorities such as authorized approval authority in accordance with the organization and allocation of duties rules, and prescribes and monitors prohibited concurrent duties to prevent financial incidents.<br><sup>1)</sup> KB Financial Group Inc.'s Strategic Planning Department, Kookmin Bank's Strategy Planning Department, etc. | KB Financial Group Inc., Kookmin Bank and 13 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 13 other companies, Strategic Planning Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Subject**<br> **Companies** | **Results of Design and Operating**<br> **Effectiveness Testing**<br> (Subject company, Performing department,<br>Timing of performance, etc.) |
| &nbsp;&nbsp;&nbsp;**Entity-level controls** <br>Compliance function department, etc.<sup>1)</sup> operate a system that, considering the possibility of fraud, administers mandatory leave for personnel in sensitive positions and conducts inspections to verify their compliance with internal control standards.<br><sup>1)</sup> KB Financial Group Inc.'s Compliance Department, Kookmin Bank's Compliance Initiative Department, etc. | KB Financial Group Inc., Kookmin Bank and 10 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 10 other companies, Compliance Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Entity-level controls** <br>HR function department<sup>1)</sup> operate a system to restrict long-term service in accordance with the job rotation standards, and when additional approval is granted for long-term service personnel, a review of the controllability of financial incident risk and approval by the executive in charge of human resources are required.<br><sup>1)</sup> Kookmin Bank's Human Resources Department, KB Securities Co., Ltd.'s HR Management Department, etc. | Kookmin Bank, KB Securities Co., Ltd. and 5 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank and KB Securities Co., Ltd. and 5 other companies, Human Resources Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>Each branch or Head Office department (or funds-related department)<sup>1)</sup> reviews whether cash on hand and deposit balances agree with the cash reconciliation statement through procedures to review cash on hand and deposit balances, preventing and managing misappropriation of funds and cash shortages/excesses through the approval of an authorized approver<sup>2)</sup> and the reporting process.<br><sup>1)</sup> KB Financial Group Inc.'s Financial Planning Department, Kookmin Bank's branches, etc.<br><sup>2)</sup> Each Head of Department, General Manager(Branch), etc. | KB Financial Group Inc., Kookmin Bank and 13 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 13 other companies, Financial Planning Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Subject**<br> **Companies** | **Results of Design and Operating**<br> **Effectiveness Testing**<br> (Subject company, Performing department,<br>Timing of performance, etc.) |
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>When suspense accounts such as temporary receipts and temporary payments occur, the authorized approver <sup>1)</sup> of each branch or Head Office department (or closing department)<sup>2)</sup> reviews the cause of occurrence, etc. and approves it, and manages it to be properly cleared through periodic post monitoring procedures.<br><sup>1)</sup> Each Head of Department, General Manager (Branch), etc.<br><sup>2)</sup> Kookmin Bank's Head Office departments and branches, KB Insurance Co., Ltd.'s Accounting Department, etc. | Kookmin Bank, KB Insurance Co., Ltd. and 10 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank and KB Insurance Co., Ltd. and 10 other companies, Accounting Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>Each branch or Head Office department (or corporate account management department)<sup>1)</sup> reviews validity of reasons for opening or closing deposits and withdrawals accounts and obtains approval from an authorized approver<sup>2)</sup>; likewise, for cash payments, it confirms legitimate reasons and obtains the necessary approval.<br><sup>1)</sup> KB Financial Group Inc.'s Human Resources Department, Kookmin Bank's head office departments and branches, etc.<br><sup>2)</sup> Each Head of Department, General Manager (Branch), etc. | KB Financial Group Inc., Kookmin Bank and 9 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 9 other companies, Human Resources Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>The seal custodian or the person responsible for the seal management department<sup>1)</sup> stores and manages seals and important certificates in accordance with the register and performs periodic physical verification and monitoring.<br><sup>1)</sup> KB Financial Group Inc.'s Human Resources Department, Kookmin Bank's General Affairs Department, etc. | KB Financial Group Inc., Kookmin Bank and 10 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 10 other companies, Human Resources Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025]<br>|

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Subject**<br> **Companies** | **Results of Design and Operating**<br> **Effectiveness Testing**<br> (Subject company, Performing department,<br>Timing of performance, etc.) |
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>The authorized approver<sup>1)</sup> of the financing department<sup>2)</sup> approve after reviewing application documents such as the financing approval request and relevant supporting documents, and perform reconciliation review of the details of fund receipts on the same day.<br><sup>1)</sup> Head of Department, Chief Officer, etc.<br><sup>2)</sup> KB Financial Group Inc.'s Financial Planning Department, Kookmin Bank's Treasury Department, etc. | KB Financial Group Inc., Kookmin Bank and 11 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 11 other companies, Financial Planning Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>Repayment of principal and interest on borrowings is approved by the authorized approver<sup>1)</sup> of the financing department<sup>2)</sup> after the application details in the system and relevant documents are reviewed, and after execution, agreement is confirmed through reconciliation of the repayment details with electronic vouchers and fund transfer details, etc.<br><sup>1)</sup> Head of Department, Chief Officer, etc.<br><sup>2)</sup> KB Financial Group Inc.'s Financial Planning Department, Kookmin Bank's Trading/Capital Markets Platform Department, etc. | KB Financial Group Inc., Kookmin Bank and 11 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 11 other companies, Financial Planning Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>For fund disbursement transactions at each branch or Head Office department (or payment and settlement department)<sup>1)</sup>, disbursements are processed after reviewing budget allocation, transaction details, and counterparties, and obtaining approval from the authorized approver<sup>2)</sup> via disbursement resolution documents.<br><sup>1)</sup> KB Financial Group Inc.'s Human Resources Department, Kookmin Bank's Management Information Development Department, etc.<br><sup>2)</sup> Each Head of Department, General Manager(Branch), etc. | KB Financial Group Inc., Kookmin Bank and 13 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Financial Group Inc., Kookmin Bank and 13 other companies, Human Resources Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Subject**<br> **Companies** | **Results of Design and Operating**<br> **Effectiveness Testing**<br> (Subject company, Performing department,<br>Timing of performance, etc.) |
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>When counterparty information is registered or changed, it is reviewed whether counterparty information entered in the system such as counterparty name and account holder matches relevant documents and approval procedure of authorized approver<sup>1)</sup> shall be obtained.<br><sup>1)</sup> Each Head of Department, General Manager(Branch), etc. | KB Securities Co., Ltd., KB Insurance Co., Ltd. and 9 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Securities Co., Ltd. and KB Insurance Co., Ltd. and 9 other companies, Treasury Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>Deposit transactions such as opening, termination, deposit, and withdrawal are allowed after reviewing application details, relevant documents, and appropriateness of the counterparty, and obtaining approval of the authorized approver<sup>1)</sup> of each branch or deposit business-related department<sup>2)</sup> and post monitoring is performed through self-inspection, etc.<br><sup>1)</sup> Each Head of Department, General Manager(Branch), etc.<br><sup>2)</sup> Kookmin Bank's branches, KB Securities Co., Ltd.'s branches, etc. | Kookmin Bank, KB Securities Co., Ltd. and 4 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank and KB Securities Co., Ltd. and 4 other companies, Deposit Products Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>Access permissions to screens in the electronic system are segregated and managed according to duties related to the loan approval process, and loan approval is processed after confirming agreement between the loan amount, maturity, interest rate, etc. and the contract, and the appropriateness of all relevant documents, and obtaining approval of authorized approver<sup>1)</sup> of each branch or credit department<sup>2)</sup>.<br><sup>1)</sup> Each Head of Department, General Manager(Branch), etc.<br><sup>2)</sup> Kookmin Bank's branches, KB Securities Co., Ltd.'s branches, etc. | Kookmin Bank, KB Securities Co., Ltd. and 9 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank, KB Securities Co., Ltd. and 9 other companies, Corporate Products Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|

---

------

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Control Activities Performed by the Group** | **Subject**<br> **Companies** | **Results of Design and Operating**<br> **Effectiveness Testing**<br> (Subject company, Performing department,<br>Timing of performance, etc.) |
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br>Loan disbursement is executed after the appropriateness of loan execution is reviewed, based on required supporting documents and other necessary documentation, by personnel with segregated authorities, and after approval of authorized approver<sup>1)</sup> of each branch or credit department<sup>2)</sup>.<br><sup>1)</sup> Each Head of Department, General Manager(Branch), etc.<br><sup>2)</sup> Kookmin Bank's branches, KB Securities Co., Ltd.'s branches, etc. | Kookmin Bank, KB Securities Co., Ltd. and 7 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank, KB Securities Co., Ltd. and 7 other companies, Corporate Products Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br>If suspicious signs of improper loan transactions are detected, they are registered in the electronic system, and the system automatically provides step-by-step warnings and transaction restrictions so that risks are managed. | Kookmin Bank, KB Securities Co., Ltd. and 4 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank and KB Securities Co., Ltd. and 4 other companies, Retail Credit Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br>Amounts of principal and interest repayment for loans are automatically calculated in the system and repayment entries are recorded, thereby preventing errors arising from manual processing. For over-the-counter collection of principal and interest and the management of written-off loans, approval is made by the authorized approver<sup>1)</sup> of the credit management department<sup>2)</sup> after a separate appropriateness review, such as reconciliation between supporting documents and actual deposit details, and a review of the appropriateness of receivable write-off and sale.<br><sup>1)</sup> Head of Department, etc.<br><sup>2)</sup> Kookmin Bank's Credit Management Department, KB Securities Co., Ltd.'s Corporate Finance Department, etc. | Kookmin Bank, KB Securities Co., Ltd. and 9 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank, KB Securities Co., Ltd. and 9 other companies, Credit Management Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Subject**<br> **Companies** | **Results of Design and Operating**<br> **Effectiveness Testing**<br> (Subject company, Performing department,<br>Timing of performance, etc.) |
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>After loan execution, post-monitoring is conducted from time to time and periodically for appropriateness of loan handling, and review and approval procedures of authorized approver<sup>1)</sup> of each branch or Head Office department (or credit management department)<sup>2)</sup> are operated.<br><sup>1)</sup> Each Head of Department, General Manager(Branch), etc.<br><sup>2)</sup> Kookmin Bank's branches, KB Insurance Co., Ltd.'s Investment Analysis Department, etc. | Kookmin Bank, KB Securities Co., Ltd. and 7 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank, KB Securities Co., Ltd. and 7 other companies, Retail Credit Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>Insurance contract transactions are processed after evidence is confirmed according to transaction type such as new and payment and approval procedures of authorized approver<sup>1)</sup> of contract management department<sup>2)</sup> are made.<br><sup>1)</sup> Head of Department, etc.<br><sup>2)</sup> KB Insurance Co., Ltd.'s General Insurance Products Department, KB Life Insurance Co., Ltd.'s Underwriting (Department), etc. | KB Insurance Co., Ltd., KB Life Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Insurance Co., Ltd. and KB Life Insurance Co., Ltd., General Insurance Products Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>Registration and change of insurance counterparty account, change of basic information, change of ledger, etc. are registered in the system after review and approval procedures of authorized approver<sup>1)</sup> of contract change department<sup>2)</sup>.<br><sup>1)</sup> Head of Department, etc.<br><sup>2)</sup> KB Insurance Co., Ltd.'s General Insurance Planning Department, KB Life Insurance Co., Ltd.'s Policy Management (Department), etc. | KB Insurance Co., Ltd., KB Life Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Insurance Co., Ltd. and KB Life Insurance Co., Ltd., Policy Management (Department) and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025]<br>|

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Subject**<br> **Companies** | **Results of Design and Operating**<br> **Effectiveness Testing**<br> (Subject company, Performing department,<br>Timing of performance, etc.) |
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>Insurance claim payment transactions, including sensitive transactions, are performed according to legitimate counterparty's request and processed only when approval of authorized approver<sup>1)</sup> of insurance claim payment department<sup>2)</sup> is obtained.<br><sup>1)</sup> Each Head of Department, etc.<br><sup>2)</sup> KB Insurance Co., Ltd.'s General Insurance Claims Department, KB Life Insurance Co., Ltd.'s Policy Management (Department), etc. | KB Insurance Co., Ltd., KB Life Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• KB Insurance Co., Ltd. and KB Life Insurance Co., Ltd., General Insurance Claims Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>When acquiring securities and derivatives, authorized approver<sup>1)</sup> of financial products department<sup>2)</sup> review appropriateness of counterparty and amount, etc. through supporting documents and approving them.<br><sup>1)</sup> Head of Department, etc.<br><sup>2)</sup> Kookmin Bank's Trading/Capital Markets Platform Department, KB Securities Co., Ltd.'s Settlement Department, etc. | Kookmin Bank, KB Securities Co., Ltd. and 12 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank and KB Securities Co., Ltd. and 12 other companies, Trading/Capital Markets Platform Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>Disposal of securities and derivatives, etc. and revenue such as interest and dividends are managed through the system, and the authorized approver<sup>1)</sup> of the financial instrument department<sup>2)</sup> review and approve appropriateness of transaction details through review of supporting documents, etc.<br><sup>1)</sup> Head of Department, etc.<br><sup>2)</sup> Kookmin Bank's Trading/Capital Markets Platform Department, KB Securities Co., Ltd.'s Equity Trading Department, etc. | Kookmin Bank, KB Securities Co., Ltd. and 9 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank and KB Securities Co., Ltd. and 9 other companies, Trading/Capital Markets Platform Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025]<br>|

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Subject**<br> **Companies** | **Results of Design and Operating**<br> **Effectiveness Testing**<br> (Subject company, Performing department,<br>Timing of performance, etc.) |
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>The appropriateness of granting authority and the operating status related to operation of securities and derivatives is reviewed and managed through monitoring, and approval procedures of the authorized approver<sup>1)</sup> of the financial instrument department<sup>2)</sup> are operated for the review details.<br><sup>1)</sup> Head of Department, etc.<br><sup>2)</sup> Kookmin Bank's Fixed Income Trading Department, KB Securities Co., Ltd.'s Equity Trading Department, etc. | Kookmin Bank, KB Securities Co., Ltd. and 9 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank and KB Securities Co., Ltd. and 9 other companies, Fixed Income Trading Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>Securities are kept in an access-controlled environment, and existence and agreement with electronic ledgers and balances, etc. are reviewed through periodic physical inspection, and approval procedures of the authorized approver<sup>1)</sup> of the financial instrument department<sup>2)</sup> are operated for the review details.<br><sup>1)</sup> Head of Department, etc.<br><sup>2)</sup> Kookmin Bank's Trading/Capital Markets Platform Department, KB Securities Co., Ltd.'s Settlement Department, etc. | Kookmin Bank, KB Securities Co., Ltd. and 8 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank and KB Securities Co., Ltd. and 8 other companies, Trading/Capital Markets Platform Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** <br>For sales commission income arising from sales activities, processing is performed after review and approval by authorized approver<sup>1)</sup> of the sales department<sup>2)</sup>, of the basis for calculating the amount and whether the commissions have been received.<br><sup>1)</sup> Head of Department, etc.<br><sup>2)</sup> Kookmin Bank's Structured Finance Department, KB Securities Co., Ltd.'s Structured Finance Department, etc. | Kookmin Bank, KB Securities Co., Ltd. and 7 other companies | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br>• Kookmin Bank and KB Securities Co., Ltd. and 7 other companies, Structured Finance Department and departments in charge of ICFR, etc. [May–Sep 2025, Nov–Dec 2025, Feb 2026]<br>• KB Financial Group Inc.'s ICFR Team, Accounting Department (consolidated-basis review) [Oct 2025, Dec 2025, Feb 2026]<br>|

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Control Activities performed by the Group and the results of evaluation of the design and operating
effectiveness were prepared based on the department names in the organizational regulations as of December 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For the controls designed and operated by each department, evaluations of the design and operating effectiveness
of controls are conducted by designating personnel within the same department, excluding the relevant control performers, as evaluators. Furthermore, the evaluation results of each department are independently reviewed by the department in charge of
the Internal Control over Financial Reporting to ensure the objectivity and reliability of the assessment.

## Exhibit 99.2

**Exhibit 99.2** 

**KB Financial Group Inc.** 

**Separate Financial Statements** 

**December 31, 2025 and 2024** 

(With Independent Auditor's Report Thereon)

------

**KB Financial Group Inc.** 

---

| | |
|:---|:---|
|  | **Page(s)** |
|  [**Independent Auditor's Report**](#ex99_2toc263747_1) | 1-3 |
|  **Separate Financial Statements** |  |
|  [Separate Statements of Financial Position](#ex99_2toc263747_2) | 4 |
|  [Separate Statements of Comprehensive Income](#ex99_2toc263747_3) | 5 |
|  [Separate Statements of Changes in Equity](#ex99_2toc263747_4) | 6 |
|  [Separate Statements of Cash Flows](#ex99_2toc263747_5) | 7 |
|  [Notes to the Separate Financial Statements](#ex99_2toc263747_6) | 8 |
|  [**Independent Auditor's Report on Internal Control over Financial Reporting**](#ex99_2toc263747_7) | 86-87 |
|  [Operating Status Report of the Internal Control over Financial Reporting](#ex99_2toc263747_8) | 88 |

---

------

**<u>Independent Auditor's Report</u>**

(English Translation of a Report Originally Issued in Korean)

To Shareholders and the Board of Directors of

KB Financial Group Inc.

*Opinion* 

We have audited the accompanying separate financial statements of KB Financial Group Inc. (the Company), which comprise the separate statements of financial position as at December 31, 2025 and 2024, and the separate statements of comprehensive income, separate statements of changes in equity and separate statements of cash flows for the years then ended, and notes to the separate financial statements, including material accounting policy information.

In our opinion, the accompanying separate financial statements present fairly, in all material respects, the separate financial position of the Company as at December 31, 2025 and 2024, and its separate financial performance and its separate cash flows for the years then ended in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (Korean IFRS).

We also have audited, in accordance with Korean Standards on Auditing, the Company's Internal Control over Financial Reporting as of December 31, 2025, based on *Conceptual Framework for Designing and Operating Internal Control over Financial Reporting*, and our report dated March 6, 2026 expressed an unqualified opinion.

*Basis for Opinion* 

We conducted our audits in accordance with Korean Standards on Auditing. Our responsibilities under those standards are further described in the *Auditor's Responsibilities for the Audit of the Financial Statements* section of our report. We are independent of the Company in accordance with the ethical requirements of the Republic of Korea that are relevant to our audit of the financial statements and we have fulfilled our other ethical responsibilities in accordance with the ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

*Key Audit Matters* 

There is no key audit matter identified to be described in this audit report.

*Other Matter* 

Auditing standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to audit such financial statements may differ from those generally accepted and applied in other countries.

*Responsibilities of Management and Those Charged with Governance for the Financial Statements* 

Management is responsible for the preparation and fair presentation of the separate financial statements in accordance with Korean IFRS, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

------

In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations.

Those charged with governance are responsible for overseeing the Company's financial reporting process.

*Auditor's Responsibilities for the Audit of the Financial Statements* 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Korean Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with Korean Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher
than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we
are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the
date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

------

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The engagement partner on the audit resulting in this independent auditor's report is Hee-Won Seo, Certified Public Accountant.

/s/ Samil PricewaterhouseCoopers

Seoul, Korea

March 6, 2026

This report is effective as of March 6, 2026, the audit report date. Certain subsequent events or circumstances, which may occur between the audit report date and the time of reading this report, could have a material impact on the accompanying separate financial statements and notes thereto. Accordingly, the readers of the audit report should understand that there is a possibility that the above audit report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

------

**KB Financial Group Inc.** 

**Separate Statements of Financial Position** 

**December 31, 2025 and 2024**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Notes** | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  **Assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions | 45629 | W | 974585 | W | 398391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss | 457 |  | 1251607 |  | 1243471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost | 458 |  | 349112 |  | 359054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries | 9 |  | 26867817 |  | 26867817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property and equipment | 10 |  | 2896 |  | 2800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible assets | 11 |  | 13207 |  | 14497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net defined benefit assets | 17 |  | 3058 |  | 2902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income tax assets | 13 |  | 9354 |  | 5257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets | 4514 |  | 1381504 |  | 912634 |
|  **Total assets** |  | W | 30853140 | W | 29806823 |
|  **Liabilities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings | 4515 |  |  |  | 965000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures | 4516 |  | 4520297 |  | 2962032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current income tax liabilities |  |  | 544056 |  | 502705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 4518 |  | 853551 |  | 388528 |
|  **Total liabilities** |  |  | 5917904 |  | 4818265 |
|  **Equity** | 19 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share capital |  |  | 2090558 |  | 2090558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities |  |  | 4359256 |  | 5082359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital surplus |  |  | 14751591 |  | 14754475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulated other comprehensive loss |  |  | (8601) |  | (8316) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained earnings |  |  | 5643970 |  | 4305542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasury shares |  |  | (1901538) |  | (1236060) |
|  **Total equity** |  |  | 24935236 |  | 24988558 |
|  **Total liabilities and equity** |  | W | 30853140 | W | 29806823 |

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The above separate statements of financial position should be read in conjunction with the accompanying notes.

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**KB Financial Group Inc.** 

**Separate Statements of Comprehensive Income** 

**Years Ended December 31, 2025 and 2024**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won, except per share amounts)* | **Notes** | **2025** | **2025** | **2024** | **2024** |
|  Interest income |  | W | 31879 | W | 38702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income from financial instruments at amortized cost |  |  | 28534 |  | 35860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income from financial instruments at fair value through profit or loss |  |  | 3345 |  | 2842 |
|  Interest expense |  |  | (118080) |  | (101073) |
|  **Net interest expense** | 21 |  | (86201) |  | (62371) |
|  Fee and commission income |  |  | 2134 |  | 2213 |
|  Fee and commission expense |  |  | (9068) |  | (9460) |
|  **Net fee and commission expense** | 22 |  | (6934) |  | (7247) |
|  **Net gains (losses) on financial instruments at fair value through profit or loss** | 23 |  | 76649 |  | 91892 |
|  **Net other operating income** | 24 |  | 3778449 |  | 2243253 |
|  General and administrative expenses | 25 |  | (102905) |  | (95655) |
|  **Operating income before provision for credit losses** |  |  | 3659058 |  | 2169872 |
|  Provision (reversal) for credit losses |  |  | 56 |  | 773 |
|  **Net operating income** |  |  | 3659114 |  | 2170645 |
|  Net non-operating income (expense) | 26 |  | (795) |  | 10 |
|  **Profit before tax** |  |  | 3658319 |  | 2170655 |
|  Income tax benefit (expense) | 27 |  | (686) |  | (58) |
|  **Profit for the period** |  |  | 3657633 |  | 2170597 |
|  **Items that will not be reclassified to profit or loss:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements of net defined benefit liabilities |  |  | (285) |  | (1507) |
|  **Other comprehensive income (loss) for the period, net of tax** | **Other comprehensive income (loss) for the period, net of tax** |  | (285) |  | (1507) |
|  **Total comprehensive income for the period** |  | W | 3657348 | W | 2169090 |
|  **Earnings per share** | 28 |  |  |  |  |
|  Basic earnings per share |  | W | 9456 | W | 5203 |
|  Diluted earnings per share |  |  | 9364 |  | 5142 |

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The above separate statements of comprehensive income should be read in conjunction with the accompanying notes.

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**KB Financial Group Inc.** 

**Separate Statements of Changes in Equity** 

**Years Ended December 31, 2025 and 2024**

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Share capital** | **Share capital** | **Hybrid<br>securities** | **Hybrid<br>securities** | **Capital surplus** | **Capital surplus** | **Accumulated<br>other<br>comprehensive<br>income** | **Accumulated<br>other<br>comprehensive<br>income** | **Retained<br>earnings** | **Retained<br>earnings** | **Treasury<br>shares** | **Treasury<br>shares** | **Total**<br>**equity** | **Total**<br>**equity** |
|  **Balance as of January 1, 2024** | W | 2090558 | W | 5032518 | W | 14754747 | W | (6809) | W | 4336898 | W | (1165837) | W | 25042075 |
|  **Comprehensive income for the period** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit for the period |  |  |  |  |  |  |  |  |  | 2170597 |  |  |  | 2170597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements of net defined benefit liabilities |  |  |  |  |  |  |  | (1507) |  |  |  |  |  | (1507) |
|  **Total comprehensive income for the period** |  |  |  |  |  |  |  | (1507) |  | 2170597 |  |  |  | 2169090 |
|  **Transactions with shareholders** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annual dividends |  |  |  |  |  |  |  |  |  | (587006) |  |  |  | (587006) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quarterly dividends |  |  |  |  |  |  |  |  |  | (899972) |  |  |  | (899972) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of treasury shares |  |  |  |  |  |  |  |  |  |  |  | (820000) |  | (820000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of treasury shares |  |  |  |  |  | 3975 |  |  |  |  |  | 234600 |  | 238575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retirement of treasury shares |  |  |  |  |  |  |  |  |  | (515177) |  | 515177 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consideration for exchange right of exchangeable bonds |  |  |  |  |  | (11933) |  |  |  |  |  |  |  | (11933) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issuance of hybrid securities |  |  |  | 399045 |  |  |  |  |  |  |  |  |  | 399045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redemption of hybrid securities |  |  |  | (349204) |  |  |  |  |  |  |  |  |  | (349204) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends on hybrid securities |  |  |  |  |  |  |  |  |  | (199798) |  |  |  | (199798) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  |  |  |  |  | 7686 |  |  |  |  |  |  |  | 7686 |
|  **Total transactions with shareholders** |  |  |  | 49841 |  | (272) |  |  |  | (2201953) |  | (70223) |  | (2222607) |
|  **Balance as of December 31, 2024** | W | 2090558 | W | 5082359 | W | 14754475 | W | (8316) | W | 4305542 | W | (1236060) | W | 24988558 |
|  **Balance as of January 1, 2025** | W | 2090558 | W | 5082359 | W | 14754475 | W | (8316) | W | 4305542 | W | (1236060) | W | 24988558 |
|  **Comprehensive income for the period** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit for the period |  |  |  |  |  |  |  |  |  | 3657633 |  |  |  | 3657633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements of net defined benefit liabilities |  |  |  |  |  |  |  | (285) |  |  |  |  |  | (285) |
|  **Total comprehensive income for the period** |  |  |  |  |  |  |  | (285) |  | 3657633 |  |  |  | 3657348 |
|  **Transactions with shareholders** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annual dividends |  |  |  |  |  |  |  |  |  | (298285) |  |  |  | (298285) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quarterly dividends |  |  |  |  |  |  |  |  |  | (1004006) |  |  |  | (1004006) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of treasury shares |  |  |  |  |  |  |  |  |  |  |  | (1480000) |  | (1480000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retirement of treasury shares |  |  |  |  |  |  |  |  |  | (814522) |  | 814522 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issuance of hybrid securities |  |  |  | 404013 |  |  |  |  |  |  |  |  |  | 404013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redemption of hybrid securities |  |  |  | (1127116) |  |  |  |  |  |  |  |  |  | (1127116) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends on hybrid securities |  |  |  |  |  |  |  |  |  | (202392) |  |  |  | (202392) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  |  |  |  |  | (2884) |  |  |  |  |  |  |  | (2884) |
|  **Total transactions with shareholders** |  |  |  | (723103) |  | (2884) |  |  |  | (2319205) |  | (665478) |  | (3710670) |
|  **Balance as of December 31, 2025** | W | 2090558 |  | 4359256 |  | 14751591 |  | (8601) |  | 5643970 |  | (1901538) |  | 24935236 |

---

The above separate statements of changes in equity should be read in conjunction with the accompanying notes.

------

**KB Financial Group Inc.** 

**Separate Statements of Cash Flows** 

**Years Ended December 31, 2025 and 2024**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |
|  | **Notes** | **2025** | **2025** | **2024** | **2024** |
|  **Cash flows from operating activities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit for the period |  | W | 3657633 | W | 2170597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adjustment for non-cash items |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization expense |  |  | 5333 |  | 6051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision (reversal) for credit losses |  |  | (56) |  | (773) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based payments |  |  | 19195 |  | 14998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net interest expense |  |  | 12638 |  | 22898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation losses (gains) on financial assets at fair value through profit or loss |  |  | (6323) |  | (31403) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net other income (expense) |  |  | 2652 |  | 2216 |
|  |  |  | 33439 |  | 13987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in operating assets and liabilities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions |  |  | 80000 |  | 60000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income tax assets |  |  | (3995) |  | (413) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets |  |  | 568740 |  | 260420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities |  |  | (570032) |  | (297859) |
|  |  |  | 74713 |  | 22148 |
|  **Net cash inflow from operating activities** |  |  | 3765785 |  | 2206732 |
|  **Cash flows from investing activities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of financial assets at fair value through profit or loss | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of financial assets at fair value through profit or loss |  |  |  | (150000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of financial assets at fair value through profit of loss | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of financial assets at fair value through profit of loss |  |  |  | 316080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of Subsidiaries |  |  |  |  | (150000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in loans measured at amortized cost |  |  |  |  | (105000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease in loans measured at amortized cost |  |  | 10000 |  | 355000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of property and equipment |  |  | (1606) |  | (1627) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of intangible assets |  |  | (1643) |  | (1481) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disposal of intangible assets |  |  | 134 |  | 173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase in guarantee deposits paid |  |  | 3646 |  | 1597 |
|  **Net cash inflow from investing activities** |  |  | 10531 |  | 264742 |
|  **Cash flows from financing activities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in borrowings |  |  | 250000 |  | 965000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease in borrowings |  |  | (1215000) |  | (100000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in debentures |  |  | 2236135 |  | 398945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease in debentures |  |  | (680000) |  | (1075000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redemption of principal of lease liabilities |  |  | (619) |  | (644) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends paid to shareholders |  |  | (1302291) |  | (1486978) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of treasury shares |  |  | (1480000) |  | (820000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issuance of hybrid securities |  |  | 404013 |  | 399045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redemption of hybrid securities |  |  | (1130000) |  | (350000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends paid on hybrid securities |  |  | (202392) |  | (199798) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financing activities |  |  | 32 |  | 10 |
|  **Net cash outflow from financing activities** |  |  | (3120122) |  | (2269420) |
|  **Net increase in cash and cash equivalents** |  |  | 656194 |  | 202054 |
|  **Cash and cash equivalents at the beginning of the period** | 29 |  | 318388 |  | 116334 |
|  **Cash and cash equivalents at the end of the period** | 29 | W | 974582 | W | 318388 |

---

The above separate statements of cash flows should be read in conjunction with the accompanying notes.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

**1. The Company** 

KB Financial Group Inc. (the "Company"), in accordance with Financial Holding Companies Act, was established on September 29, 2008, through stock transfers with the former shareholders of Kookmin Bank, KB Investment & Securities Co., Ltd., KB Asset Management Co., Ltd., KB Real Estate Trust Co., Ltd., KB Investment Co., Ltd., KB Futures Co., Ltd., KB Credit Information Co., Ltd., and KB Data Systems Co., Ltd., and the Company's main business purpose is to control subsidiaries that engage in the financial business or subsidiaries closely related to the financial business through the stock ownership. The headquarter is located at 26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul. The Company's share capital as of December 31, 2025, is W 2,090,558 million. In 2011, Kookmin Bank spun off its credit card business segment and established a new separate credit card company, KB Kookmin Card Co., Ltd., and KB Investment & Securities Co., Ltd. merged with KB Futures Co., Ltd. The Company established KB Savings Bank Co., Ltd. in January 2012, acquired Yehansoul Savings Bank Co., Ltd. in September 2013, and KB Savings Bank Co., Ltd. merged with Yehansoul Savings Bank Co., Ltd. in January 2014. In March 2014, the Company acquired Woori Financial Co., Ltd. and changed the name to KB Capital Co., Ltd. Meanwhile, the Company included LIG Insurance Co., Ltd. as an associate and changed the name to KB Insurance Co., Ltd. in June 2015, and KB Insurance Co., Ltd. became one of the subsidiaries through a tender offer in May 2017. Also, the Company included Hyundai Securities Co., Ltd. as an associate in June 2016 and included as a subsidiary in October 2016 by comprehensive exchange of shares. Hyundai Securities Co., Ltd. merged with KB Investment & Securities Co., Ltd. in December 2016 and changed its name to KB Securities Co., Ltd. in January 2017. In August 2020, the Group acquired Prudential Life Insurance Company of Korea Ltd. which was classified as a subsidiary and the name was changed to KB Life Insurance Co., Ltd. in December 2022. Then in January 2023, it merged with another existing KB Life Insurance Co., Ltd. The Company sold 100% shares of KB Credit Information Co., Ltd. to KB Kookmin Card Co., Ltd. on June 30, 2023.

The Company has been listed on the Korea Exchange ("KRX") since October 10, 2008, and on the New York Stock Exchange ("NYSE") for its American Depositary Shares ("ADS") since September 29, 2008. Number of shares authorized on its Articles of Incorporation is 1,000 million.

**2. Basis of Preparation** 

**2.1 Application of Korean IFRS** 

The Company maintains its accounting records in Korean won and prepares statutory financial statements in the Korean language in accordance with International Financial Reporting Standards as adopted by the Republic of Korea ("Korean IFRS"). The accompanying separate financial statements have been translated into English from the Korean language separate financial statements.

The separate financial statements of the Company have been prepared in accordance with Korean IFRS. Korean IFRS are the standards and related interpretations issued by the International Accounting Standards Board ("IASB") that have been adopted by the Republic of Korea.

The preparation of separate financial statements requires the use of certain critical accounting estimates. Management also needs to exercise judgment in applying the Company's accounting policies. The areas that require a more complex and higher level of judgment or areas that require significant assumptions and estimations are disclosed in Note 2.4.

The separate financial statements have been prepared in accordance with Korean IFRS No.1027 *Separate Financial Statements*.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

2.1.1 The Company has applied the following new and amended standards for the first time for its annual reporting period commencing January 1, 2025.

• *Amendment of Korean IFRS No.1021 "The Effects of Changes in Foreign Exchange Rates" and Korean IFRS No.1101 "First-time Adoption of International Financial Reporting Standards" - Lack of exchangeability* 

The amendments require the Company to determine a spot exchange rate when exchangeability is lacking, and to disclose information on the nature and financial effects of the currency not being exchangeable into another currency, the spot exchange rate(s) used, the estimation process, and the risks to which the Company is exposed. These amendments do not have a significant impact on the financial statements.

2.1.2 The following are the accounting standards that have been established or announced but have not yet been implemented, which the Company has not applied.

• *Amendment of Korean IFRS No.1109 "Financial Instruments" and No.1107 "Financial Instruments: Disclosures"* 

Korean IFRS No.1109 *Financial Instruments* and Korean IFRS No.1107 *Financial Instruments: Disclosures* have been amended to respond to recent questions arising in practice, and to include new requirements. The amendments should be applied for annual periods beginning on or after January 1, 2026, and earlier application is permitted. The amendments do not have a significant impact on the financial statements. These amendments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception
for some financial liabilities settled through an electronic cash transfer system;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal
and interest (SPPI) criterion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• add new disclosures of impact on the entity and the extent to which the entity is exposed for each type of
financial instruments if the timing or amount of contractual cash flow changes due to amendment of contract term; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI)

• *Korean IFRS Accounting Standards Annual Improvements Volume 11* 

Korean IFRS Accounting Standards Annual Improvements Volume 11 will be effective for annual reporting periods beginning on or after January 1, 2026. These amendments do not have a significant impact on the financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Korean IFRS No.1101 "First-time adoption of International Financial Reporting Standards": Hedge
accounting by a first-time adopter

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Korean IFRS No.1107 "Financial Instruments: Disclosures": Gain or loss on derecognition, Application
guidance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Korean IFRS No.1109 "Financial Instruments": Derecognition of lease liabilities, Definition of
transaction price

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Korean IFRS No.1110 "Consolidated Financial Statements": Determination of a 'de facto
agent'

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Korean IFRS No.1007 "Statement of Cash Flows": Cost method

• *Korean IFRS No.1118 Presentation and Disclosures in Financial Statements* 

Korean IFRS No.1118 "Presentation and Disclosure in Financial Statements" replaces Korean IFRS No.1001 "Presentation of Financial Statements." Korean IFRS No.1118 introduces new presentation requirements, particularly with respect to the definition of operating profit or loss, which are expected to enhance comparability of financial performance among similar entities. In addition, the disclosure requirements for management-defined performance measures are intended to improve transparency. The Standard is effective for annual reporting periods beginning on or after January 1, 2027, with early adoption permitted. In accordance with the retrospective application requirements of the Standard, the Company will restate the comparative information for the year ending December 31, 2026 in accordance with Korean IFRS No.1118.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

The Company has not yet adopted Korean IFRS No.1118 and is currently assessing the impact that the application of the Standard will have on its financial statements. The Company has prepared a transition plan and is on track to report their first Korean IFRS No.1118-compliant interim financial statements for the period ending March 31, 2027 and annual financial statements for the period ending December 31, 2027.

**2.2 Measurement Basis** 

The separate financial statements have been prepared under the historical cost convention unless otherwise specified.

**2.3 Functional and Presentation Currency** 

Items included in the separate financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates ("functional currency"). The separate financial statements are presented in Korean won, which is the Company's functional and presentation currency.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**2.4 Critical Accounting Estimates** 

The Company applies accounting policies and uses judgements, accounting estimates, and assumptions that may have a significant impact on the assets (liabilities) and incomes (expenses) in preparing the separate financial statements. Management's estimates of outcomes may differ from actual outcomes if management's estimates and assumptions based on management's best judgment are different from the actual environment.

Estimates and underlying assumptions are continually evaluated, and changes in accounting estimates are recognized in the period in which the estimates are changed and in any future periods affected.

Uncertainties in estimates and assumptions with significant risks that may result in material adjustments to the separate financial statements are as follows:

2.4.1 Income taxes

As the income taxes on the Company's taxable income is calculated by applying the tax laws of various countries and the decisions of tax authorities, there is uncertainty in calculating the final tax effect.

2.4.2 Fair value of financial instruments

The fair value of financial instruments where no active market exists or where quoted prices are not otherwise available is determined by using valuation techniques. Financial instruments, which are not actively traded in the market and those with less transparent market prices, will have less objective fair values and require broad judgment on liquidity, concentration, uncertainty in market factors, assumptions in fair value determination, and other risks.

As described in the significant accounting policies in Note 3.1 Recognition and Measurement of Financial Instruments, diverse valuation techniques are used to determine the fair value of financial instruments, from generally accepted market valuation models to internally developed valuation models that incorporate various types of assumptions and variables.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**3. Material Accounting Policies** 

The principal accounting policies applied in the preparation of these separate financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

**3.1 Recognition and Measurement of Financial Instruments** 

3.1.1 Initial recognition

The Company recognizes a financial asset or a financial liability in its statement of financial position when the Company becomes party to the contractual provisions of the instrument. A regular way purchase or sale of financial assets (a purchase or sale of a financial asset under a contract whose terms require delivery of the asset within the time frame established generally by regulation or convention in the marketplace concerned) is recognized and derecognized using trade date accounting.

For financial reporting purpose, the Company classifies (a) financial assets as financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income, or financial assets at amortized cost and (b) financial liabilities as financial liabilities at fair value through profit or loss, or other financial liabilities. These classifications are based on the business model for managing financial instruments and the contractual cash flow characteristics of the financial instrument at initial recognition.

At initial recognition, a financial asset or financial liability is measured at its fair value plus or minus, in the case of a financial asset or financial liability not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issue of the financial asset or financial liability. The fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value of a financial instrument on initial recognition is normally the transaction price (that is, the fair value of the consideration given or received) in an arm's length transaction.

3.1.2 Subsequent measurement

After initial recognition, financial instruments are measured at amortized cost or fair value based on classification at initial recognition.

3.1.2.1 Amortized cost

The amortized cost of a financial asset or financial liability is the amount at which the financial asset or financial liability is measured at initial recognition minus the principal repayments, plus or minus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount and, for financial assets, adjusted for any loss allowance.

3.1.2.2 Fair value

The Company uses quoted price in an active market which is based on listed market price or dealer price quotations of financial instruments traded in an active market as best estimate of fair value. A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm's length basis.

If there is no active market for a financial instrument, fair value is determined either by using a valuation technique or independent third-party valuation service. Valuation techniques include using recent arm's length market transactions between knowledgeable and willing parties, if available, referencing the current fair value of another instrument that is substantially the same, discounted cash flow analysis, and option pricing models.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

3.1.2.2 Fair value (cont'd)

The Company uses valuation models that are commonly used by market participants and customized for the Company to determine fair values of common over-the-counter (OTC) derivatives such as options, interest rate swaps, and currency swaps which are based on the inputs observable in markets. However, for some complex financial instruments that require fair value measurement by valuation techniques based on certain assumptions because some or all inputs used in the model are not observable in the market, the Company uses internal valuation models developed from general valuation models or valuation results from independent external valuation institutions.

In addition, the fair value information recognized in the statement of financial position is classified into the following fair value hierarchy, reflecting the significance of the input variables used in the fair value measurement.

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly

Level 3: Unobservable inputs for the asset or liability

The fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. For this purpose, the significance of an input is assessed against the fair value measurement in its entirety.

If a fair value measurement uses observable inputs that require significant adjustment using unobservable inputs, that measurement is a Level 3 measurement.

If the valuation technique does not reflect all factors which market participants would consider in pricing the asset or liability, the fair value is adjusted to reflect those factors. Those factors include counterparty credit risk, liquidity risk, and others.

The Company uses valuation technique which maximizes the use of market inputs and minimizes the use of entity-specific inputs. It incorporates all factors that market participants would consider in pricing the asset or liability and is consistent with economic methodologies applied for pricing financial instruments. Periodically, the Company calibrates the valuation technique and tests its validity using prices of observable current market transactions of the same instrument or based on other relevant observable market data.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

3.1.3 Derecognition

Derecognition is the removal of a previously recognized financial asset or financial liability from the statement of financial position. The derecognition criteria for financial assets and financial liabilities are as follows:

3.1.3.1 Derecognition of financial assets

A financial asset is derecognized when the contractual rights to the cash flows from the financial assets expire or the Company transfers substantially all the risks and rewards of ownership of the financial asset, or the Company neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset and the Company has not retained control. Therefore, if the Company does not transfer substantially all the risks and rewards of ownership of the financial asset, the Company continues to recognize the financial asset to the extent of its continuing involvement in the financial asset.

If the Company transfers the contractual rights to receive the cash flows of the financial asset but retains substantially all the risks and rewards of ownership of the financial asset, the Company continues to recognize the transferred asset in its entirety and recognize a financial liability for the consideration received.

The Company writes off a financial asset when the Company has no reasonable expectations of recovering a financial asset in its entirety or a portion thereof. In general, the Company considers write-off when it is determined that the debtor does not have sufficient funds or income to cover the principal and interest. The write-off decision is made in accordance with internal regulations. After the write-off, the Company can collect the written-off loans continuously according to the internal policy. Recovered amounts from financial assets previously written-off are recognized in profit or loss.

3.1.3.2 Derecognition of financial liabilities

A financial liability is derecognized from the statement of financial position when it is extinguished (i.e., the obligation specified in the contract is discharged, canceled or expires).

3.1.4 Offsetting

A financial asset and a financial liability are offset, and the net amount is presented in the statement of financial position when, and only when, the Company currently has a legally enforceable right to set off the recognized amounts and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on a future event and must be legally enforceable in the normal course of business, the event of default, and the event of insolvency or bankruptcy of the Company and all of the counterparties.

**3.2 Cash and Due from Financial Institutions** 

Cash and due from financial institutions include cash on hand, foreign currency, and short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, and due from financial institutions. Cash and due from financial institutions are measured at amortized cost.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**3.3 Non-derivative Financial Assets** 

3.3.1 Financial assets at fair value through profit or loss

Financial assets are classified as financial assets at fair value through profit or loss unless they are classified as financial assets at amortized cost or at fair value through other comprehensive income.

The Company may designate certain financial assets upon initial recognition as at fair value through profit or loss when the designation eliminates or significantly reduces a measurement or recognition inconsistency (sometimes referred to as an 'accounting mismatch') that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases.

After initial recognition, a financial asset at fair value through profit or loss is measured at fair value and gains or losses arising from a change in fair value are recognized in profit or loss. Interest income using the effective interest method and dividend income from financial assets at fair value through profit or loss are also recognized in profit or loss.

3.3.2 Financial assets at fair value through other comprehensive income

The Company classifies below financial assets as financial assets at fair value through other comprehensive income:

• Debt instruments that are held within a business model whose objective is achieved by both collecting contractual
cash flows and selling financial assets, and where the assets' cash flows represent solely payments of principal and interest on the principal amount outstanding and;

• Equity instruments that are not held for short-term trading but held for strategic investment, and designated as
financial assets at fair value through other comprehensive income

After initial recognition, a financial asset at fair value through other comprehensive income is measured at fair value. Gains or losses arising from a change in fair value, other than dividend income, interest income calculated using the effective interest method and exchange differences arising on monetary items which are recognized directly in profit or loss, are recognized in other comprehensive income in equity.

When the financial assets at fair value through other comprehensive income is disposed of, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss. However, cumulative gain or loss of equity instruments designated at fair value through other comprehensive income is reclassified to retained earnings not to profit or loss at disposal.

A financial asset at fair value through other comprehensive income denominated in foreign currency is translated at the closing rate. Exchange differences resulting from changes in amortized cost are recognized in profit or loss, and other changes are recognized in equity.

3.3.3 Financial assets at amortized cost

A financial asset, which is held within the business model whose objective is achieved by collecting contractual cash flows, and where the assets' cash flows represent solely payments of principal and interest on the principal amount outstanding, is classified as a financial asset at amortized cost. After initial recognition, a financial asset at amortized cost is measured at amortized cost using the effective interest method and interest income is calculated using the effective interest method.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**3.4 Expected Credit Losses of Financial Assets (Debt Instruments)** 

The Company recognizes loss allowances for expected credit losses at the end of the reporting period for financial assets at amortized cost and fair value through other comprehensive income except for financial assets at fair value through profit or loss.

Expected credit losses are estimated at present value of probability-weighted amount that is determined by evaluating a range of possible outcomes. The Company measures expected credit losses by reflecting all reasonable and supportable information that is available without undue cost or effort at the reporting date about past events, current conditions, and forecasts of future economic conditions.

The approaches of measuring expected credit losses in accordance with Korean IFRS are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• General approach: for financial assets and unused loan commitments not subject to the below 2 approaches

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Simplified approach: for trade receivables, contract assets, and lease receivables

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Credit-impaired approach: for financial assets that are credit-impaired at the time of acquisition

Application of general approach is differentiated depending on whether credit risk has increased significantly after initial recognition. If the credit risk on a financial instrument has not increased significantly since initial recognition, the Company measures loss allowances for that financial instrument at an amount equal to 12-month expected credit losses, whereas if the credit risk on a financial instrument has increased significantly since initial recognition, the Company measures loss allowances for a financial instrument at an amount equal to the lifetime expected credit losses. Lifetime is the period until the contractual maturity date of financial instruments and means the expected life.

The Company assesses whether the credit risk has increased significantly using the following criteria, and if one or more of the following criteria are met, it is deemed as significant increase in credit risk. If the contractual cash flows of a financial asset have been renegotiated or modified, the Company assesses whether the credit risk has increased significantly using the same following criteria.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• More than 30 days past due

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Decline in credit rating at the end of the reporting period by certain notches or more compared to the time of
initial recognition

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Debt restructuring (except for impaired financial assets) and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Credit delinquency information of Korea Credit Information Services, etc.

Under simplified approach, the Company always measures loss allowances at an amount equal to lifetime expected credit losses. Under credit-impaired approach, the Company only recognizes the cumulative changes in lifetime expected credit losses since initial recognition as loss allowances at the end of the reporting period.

The Company generally considers the loan to be credit-impaired if one or more of the following criteria are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 90 days or more past due

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Legal proceedings related to collection

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A borrower registered on the credit management list of Korea Federation of Banks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A corporate borrower with the credit rating C and D

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Debt restructuring, etc.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

3.4.1 Forward-looking information

The Company uses forward-looking information, when determining whether credit risk has increased significantly and measuring expected credit losses.

The Company assumes that the risk components have a constant correlation with the economic cycle and uses statistical methodologies to estimate the relation between key macroeconomic variables and risk components for the expected credit losses. The Company has derived a correlation between the time series data of 15 years or more and the key macroeconomic variables and calculates the expected credit losses by reflecting the results of the correlation on the risk component.

The correlation between the major macroeconomic variables and the credit risk are as follows:

---

| | |
|:---|:---|
| **Key macroeconomic variables** | **Correlation between the major macroeconomic**<br> **variables and the credit risk** |
|  Benchmark interest rate | (+) |
|  AA- rated corporate bond (3-year) | (+) |
|  BBB- rated corporate bond (3-year) | (+) |
|  Composite stock index | (-) |
|  Rate of increase in housing transaction price index (Whole Country) | (-) |
|  Rate of increase in housing transaction price index (Metropolitan Area) | (-) |
|  WTI crude oil price | (+) |

---

Forward-looking information used in the calculation of expected credit losses is based on the macroeconomic forecasts utilized by management of the Company for its business plan considering reliable external agency's forecasts and others. The forward-looking information is generated by KB Research with a comprehensive approach to capture the possibility of various economic forecast scenarios that are derived from the internal and external viewpoints of the macroeconomic situation. The Company determines the macroeconomic variables to be used in forecasting future conditions of the economy, considering the direction of the forecast scenario based on GDP growth and the significant relationship between macroeconomic variables and time series data. Some macroeconomic variables used are different than those used in the previous year.

As of December 31, 2025, the Company measured expected credit losses by incorporating both the worsening and crisis macroeconomic scenarios, taking into account potential credit risks arising from the uncertain domestic and global financial environment and the sharp economic downturn.

3.4.2 Measuring expected credit losses on financial assets at amortized cost

The expected credit losses of financial assets at amortized cost are measured as present value of the difference between the contractual cash flows to be received and the cash flows expected to be received. The Company estimates expected future cash flows for financial assets that are individually significant. The Company selects the individually significant financial assets by comprehensively considering quantitative and qualitative factors (such as debt restructuring or negative net assets, etc.) among financial assets with the credit risk has increased significantly or credit-impaired (individual assessment of impairment).

For financial assets that are not individually significant, the Company collectively estimates expected credit losses by grouping loans with a homogeneous credit risk profile (collective assessment of impairment).

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

3.4.2.1 Individual assessment of impairment

Individual assessment of impairment losses is performed using management's best estimate on the present value of expected future cash flows. The Company uses all the available information including financial condition of the borrower such as operating cash flow and net realizable value of any collateral held.

3.4.2.2 Collective assessment of impairment

Collective assessment of impairment losses is performed by using a methodology based on historical loss experience and reflecting forward-looking information. Such a process incorporates factors such as type of collateral, type of product, type of borrower, credit rating, size of portfolio, and recovery period and applies Probability of Default ("PD") on a group of assets and Loss Given Default ("LGD") by type of recovery method. Also, the Company applies certain assumptions to model expected credit losses assessment and to determine input based on loss experience and forward-looking information. These models and assumptions are periodically reviewed to reduce the gap between loss estimate and actual loss experience.

The lifetime expected credit losses are measured by applying the PD to the carrying amount calculated by deducting the expected principal repayment amount from the carrying amount as of the reporting date and the LGD adjusted to reflect changes in the carrying amount.

3.4.3 Measuring expected credit losses on financial assets at fair value through other comprehensive income

The Company measures expected credit losses on financial assets at fair value through other comprehensive income in a manner that is consistent with the requirements that are applicable to financial assets at amortized cost. However, loss allowances are recognized in other comprehensive income. Upon disposal or repayment of financial assets at fair value through other comprehensive income, the amount of loss allowances is reclassified from other comprehensive income to profit or loss.

**3.5 Revenue Recognition** 

The Company recognizes revenues in accordance with the following steps determined in accordance with Korean IFRS No.1115 *Revenue from Contracts with Customers*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Step 1: Identify the contract with a customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Step 2: Identify the performance obligations in the contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Step 3: Determine the transaction price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Step 4: Allocate the transaction price to the performance obligations in the contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

3.5.1 Interest income and expense

Interest income and expense on debt securities at fair value through profit or loss (excluding beneficiary certificates, equity investments, and other debt securities), loans, financial instruments at amortized cost, and debt securities at fair value through other comprehensive income are recognized in the statement of comprehensive income using the effective interest method in accordance with Korean IFRS No.1109 *Financial Instruments*. The effective interest method is a method of calculating the amortized cost of a financial asset or a financial liability and allocating the interest income or interest expense over the relevant period.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

3.5.1 Interest income and expense (cont'd)

The effective interest rate is the rate that exactly discounts estimated future cash receipts or payments through the expected life of the financial instrument or, where appropriate, a shorter period, to the gross carrying amount of a financial asset or to the amortized cost of a financial liability. When calculating the effective interest rate, the Company estimates expected cash flows by considering all contractual terms of the financial instrument but does not consider expected credit losses. The calculation includes all fees and points paid (main components of effective interest rate only) or received between parties to the contract that are an integral part of the effective interest rate, transaction costs, and all other premiums or discounts. In those rare cases when it is not possible to reliably estimate the cash flows and the expected life of a financial instrument, the Company uses the contractual cash flows over the full contractual term of the financial instrument

Interest income on impaired financial assets is recognized using the interest rate used to discount the expected cash flows for the purpose of measuring the impairment loss.

Interest income on debt securities at fair value through profit or loss is also classified as interest income in the statement of comprehensive income.

3.5.2 Fee and commission income

The Company recognizes financial service fees in accordance with the purpose of charging the fees and the accounting standards of the financial instrument related to the fees earned.

3.5.2.1 Fees that are an integral part of the effective interest of a financial instrument

Such fees are generally treated as adjustments of effective interest rate. Such fees may include compensation for activities such as evaluating the borrower's financial condition, evaluating and recording guarantees, collateral and other security arrangements, negotiating the terms of the instrument, preparing and processing documents, and closing the transaction and origination fees received on issuing financial liabilities at amortized cost. However, fees relating to the creation or acquisition of a financial instrument at fair value through profit or loss are recognized as revenue immediately.

3.5.2.2 Fees related to performance obligations satisfied over time

If the control of a good or service is transferred over time, the Company recognizes revenue related to performance obligations over the period of performance obligations. Fees charged in return for the services for a certain period of time, such as asset management fees, consignment business fees, etc. are recognized over the period of performance obligations.

3.5.2.3 Fees related to performance obligations satisfied at a point in time

Fees earned at a point in time are recognized as revenue when a customer obtains controls of a promised good or service and the Company satisfies a performance obligation.

3.5.3 Net gains/losses on financial instruments at fair value through profit or loss

Net gains or losses on financial instruments at fair value through profit or loss (including changes in fair value, dividends, and gains or losses from foreign currency translation) include gains or losses on financial instruments as follows:

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

3.5.3 Net gains/losses on financial instruments at fair value through profit or loss (cont'd)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gains or losses relating to financial instruments at fair value through profit or loss (excluding interest income
using the effective interest rate method)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Gains or losses relating to derivative financial instruments for trading (including derivative financial
instruments for hedging purpose but do not qualify for hedge accounting)

3.5.4 Dividend income

Dividend income is recognized in profit or loss when the right to receive payment is established. Dividend income is recognized as net gains or losses on financial instruments at fair value through profit or loss or other operating income depending on the classification of equity securities.

**3.6 Investments in Subsidiaries and Associates** 

Investments in subsidiaries and associates are accounted at cost method in accordance with Korean IFRS No.1027. The Company determines at each reporting period whether there is any objective evidence that the investments in the subsidiaries and associates are impaired. If this is the case, the Company calculates the amount of impairment as the difference between the recoverable amount of the subsidiaries or associates and its carrying value.

**3.7 Property and Equipment** 

3.7.1 Recognition and measurement

Property and equipment that qualify for recognition as an asset are measured at cost and subsequently carried at its cost less any accumulated depreciation and any accumulated impairment losses.

The cost of property and equipment includes any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management and the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located.

Subsequent expenditures are capitalized only when they prolong the useful life or enhance values of the assets but the costs of the day-to-day servicing of the assets such as repair and maintenance costs are recognized in profit or loss as incurred. When part of an item of property and equipment has a useful life different from that of the entire asset, it is recognized as a separate asset.

3.7.2 Depreciation

Land is not depreciated, whereas other property and equipment are depreciated using the method that reflects the pattern in which the asset's future economic benefits are expected to be consumed by the Company. The depreciable amount of an asset is determined after deducting its residual value.

Each part of an item of property and equipment with a cost that is significant in relation to the total cost of the item is depreciated separately.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

3.7.2 Depreciation (cont'd)

The depreciation method and estimated useful life of property and equipment are as follows:

---

| | | |
|:---|:---|:---|
| **Property and equipment** | **Depreciation method** | **Estimated useful life** |
| Leasehold improvements<br> Equipment and vehicles | Declining-balance<br> Declining-balance | 4 years<br> 4 years |

---

The residual value, the useful life, and the depreciation method applied to an asset are reviewed at each financial year-end and, if expectations differ from previous estimates, the changes are accounted for as a change in an accounting estimate.

**3.8 Intangible Assets** 

Intangible assets are measured initially at cost and subsequently carried at their cost less any accumulated amortization and any accumulated impairment losses.

Intangible assets, except for membership rights, are amortized using the straight-line method with no residual value over their estimated useful life since the assets are available for use.

---

| | | |
|:---|:---|:---|
| **Intangible assets** | **Amortization method** | **Estimated useful life** |
| Software | Straight-line | 4 years |
| Others | Straight-line | 4 ~ 19 years |

---

The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at each financial year-end. Where an intangible asset is not being amortized because its useful life is indefinite, the Company carries out a review in each accounting period to confirm whether events and circumstances still support an indefinite useful life assessment. If they do not, the change in the useful life assessment from indefinite to finite is accounted for as a change in an accounting estimate.

**3.9 Impairment of Non-financial Assets** 

The Company assesses at the end of each reporting period whether there is any indication that a non-financial asset, except for (a) deferred income tax assets, (b) assets arising from employee benefits and (c) non-current assets (or group of assets to be sold) classified as held for sale, may be impaired. If any such indication exists, the Company estimates the recoverable amount of the asset.

The recoverable amount is estimated for the individual asset. If it is not possible to estimate the recoverable amount of the individual asset, the Company determines the recoverable amount of the cash-generating unit to which the asset belongs. A cash-generating unit is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. The recoverable amount of an asset is the higher of its fair value less costs of disposal and its value in use. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit that are discounted by a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the future cash flow estimates have not been adjusted.

If the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. That reduction is an impairment loss and recognized immediately in profit or loss.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**3.10 Provisions** 

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Inevitable risks and uncertainties surrounding related events and circumstances are considered in measuring the best estimate of the provisions, and where the effect of the time value of money is material, the amount of provisions is the present value of the expenditures expected to be required to settle the obligation.

Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provisions are reversed.

**3.11 Equity Instrument Issued by the Company** 

An equity instrument is any contract or agreement that evidences a residual interest in the assets of an entity after deducting all of its liabilities.

3.11.1 Ordinary shares

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or the exercise of stock option are deducted from the equity, net of any tax effects.

3.11.2 Hybrid securities

The financial instruments can be classified as either financial liabilities or equity in accordance with the terms of the contract. The Company classifies hybrid securities as an equity if the Company has the unconditional right to avoid any contractual obligation to deliver cash or another financial asset in relation to the financial instruments.

3.11.3 Treasury shares

If the Company acquires its own equity instruments, these are accounted for as treasury shares and are deducted directly from equity. No gains or losses are recognized in profit or loss on the purchase, sale, issue or retirement of own equity instruments.

**3.12 Employee Compensation and Benefits** 

3.12.1 Post-employment benefits

3.12.1.1 Defined contribution plans

When an employee has rendered service to the Company during a period, the Company recognizes the contribution payable to a defined contribution plan in exchange for that service as post-employment benefits for the period.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

3.12.1.2 Defined benefit plans

All post-employment benefits, other than defined contribution plans, are classified as defined benefit plans. The amount recognized as a net defined benefit liability is the present value of the defined benefit obligation less the fair value of plan assets at the end of the reporting period.

The present value of the defined benefit obligation is calculated annually by independent actuaries using the Projected Unit Credit method. The rate used to discount post-employment benefit obligations is determined by reference to market yields at the end of the reporting period on high quality corporate bonds. The currency and term of the corporate bonds are consistent with the currency and estimated term of the post-employment benefit obligations. Actuarial gains and losses resulted from changes in actuarial assumptions and experience adjustments are recognized in other comprehensive income.

When the present value of the defined benefit obligation minus the fair value of plan assets results in an asset, it is recognized to the extent of the present value of any economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan.

Past service cost is the change in the present value of the defined benefit obligation for employee service in prior periods, resulting from the introduction or changes to a defined benefit plan. Such past service cost is immediately recognized as an expense for the period.

3.12.2 Short-term employee benefits

Short-term employee benefits are employee benefits that are expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related service. When an employee has rendered service to the Company during an accounting period, the Company recognizes the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service as an expense for the period.

The expected cost of profit-sharing and bonus payments is recognized as liabilities when the Company has a present legal or constructive obligation to make payments as a result of past events, such as service rendered by employees, and a reliable estimate of the obligation can be made.

3.12.3 Share-based payment

The Company provides stock grants program to executives and employees of the Company and its subsidiaries. When stock grants are exercised, the Company can either select to distribute newly issued shares or treasury shares or compensate in cash based on the share price.

For a share-based payment transaction in which the terms of the arrangement provide the Company with the choice of whether to settle in cash or by issuing equity instruments, the Company accounts for the transaction in accordance with the requirements applying to cash-settled share-based payment transactions because the Company determines that it has a present obligation to settle in cash based on a past practice and a stated policy of settling in cash.

Therefore, the Company measures the liability incurred as consideration for the service received at fair value and recognizes related expense and accrued expense over the vesting periods. Until the liability is settled, the Company remeasures the fair value of the liability at the end of each reporting period and at the date of settlement, with any changes in fair value recognized in profit or loss as share-based payments.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

3.12.4 Termination benefits

Termination benefits are payable when employment is terminated by the Company before the normal retirement date, or an employee's decision to accept an offer of benefits in exchange for the termination of employment. The Company recognizes a liability and expense for termination benefits at the earlier of the following dates; when the Company can no longer withdraw the offer of those benefits and when the Company recognizes costs for a restructuring that is within the scope of Korean IFRS No.1037 and involves the payment of termination benefits. If the termination benefits are not expected to be settled wholly before twelve months after the end of the annual reporting period, then the termination benefits are discounted to present value.

**3.13 Income Tax Expense** 

Income tax expense comprises current tax expense and deferred income tax expense. Current and deferred income tax are recognized as income or expense and included in profit or loss for the period, except to the extent that the tax arises from (a) a transaction or event which is recognized, in the same or a different period, outside profit or loss, either in other comprehensive income or directly in equity and (b) a business combination.

3.13.1 Current income tax

Current income tax is the amount of income tax payable (recoverable) in respect of the taxable profit (tax loss) for a period. A difference between the taxable profit and accounting profit may arise when income or expense is included in accounting profit in one period but is included in taxable profit in a different period. Differences may also arise if there is revenue that is exempt from taxation, or expense that is not deductible in determining taxable profit (loss). Current income tax liabilities for the current and prior periods are measured using the tax rates that have been enacted or substantively enacted by the end of the reporting period.

The Company offsets current income tax assets and current income tax liabilities if, and only if, the Company (a) has a legally enforceable right to set off the recognized amounts and (b) intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.

3.13.2 Deferred income tax

Deferred income tax is recognized, using the asset-liability method, on temporary differences arising between the tax-based amount of assets and liabilities and their carrying amount in the financial statements. Deferred income tax liabilities are recognized for all taxable temporary differences and deferred income tax assets are recognized for all deductible temporary differences to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilized. However, deferred income tax liabilities are not recognized if they arise from the initial recognition of goodwill; deferred income tax assets and liabilities are not recognized if they arise from the initial recognition of an asset or liability in a transaction that is not a business combination, and at the time of the transaction, affects neither accounting nor taxable profit or loss.

The carrying amount of a deferred income tax asset is reviewed at the end of each reporting period. The Company reduces the carrying amount of a deferred income tax asset to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of that deferred income tax asset to be utilized.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

3.13.2 Deferred income tax (cont'd)

Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred income tax liabilities and deferred income tax assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

The Company offsets deferred income tax assets and deferred income tax liabilities if, and only if the Company has a legally enforceable right to set off current income tax assets against current income tax liabilities and the deferred income tax assets and the deferred income tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current income tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred income tax liabilities or assets are expected to be settled or recovered.

3.13.3 Uncertain tax positions

Uncertain tax positions arise from tax treatments applied by the Company which may be challenged by the tax authorities due to the complexity of the transaction or different interpretation of the tax laws, such as a claim for rectification, a claim for a refund related to additional tax or a tax investigation by the tax authorities. The Company recognizes its uncertain tax positions in the financial statements in accordance with Korean IFRS No.1012 and Interpretation of Korean IFRS No.2123. The income tax asset is recognized if a tax refund is probable for taxes levied by the tax authority, and the amount to be paid as a result of the tax investigation and others is recognized as the current tax payable. However, penalty tax and additional refund on tax are regarded as penalty or interest and are accounted for in accordance with Korean IFRS No.1037.

**3.14 Earnings per Share** 

The Company calculates basic earnings per share amounts and diluted earnings per share amounts for profit or loss for the period and presents them in the statement of comprehensive income. Basic earnings per share is calculated by dividing profit or loss attributable to ordinary equity holders of the Company by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is calculated by adjusting the profit or loss attributable to ordinary equity holders of the Parent Company and weighted average number of shares outstanding, taking into account all potential dilution effects, such as exchangeable bonds and share-based payments given to employees.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**3.15 Leases** 

The Company as a lessor recognizes lease payments from operating leases as income on a straight-line basis over the lease term. Initial direct costs incurred in obtaining an operating lease are added to the carrying amount of the underlying asset and recognized as expense over the lease term on the same basis as lease income. The respective leased assets are included in the statement of financial position based on their nature.

A lessee is required to recognize a right-of-use asset (lease assets) representing its right to use the underlying leased asset and a lease liability representing its obligation to make lease payments. Assets and liabilities arising from a lease are initially measured at the present value.

Lease liabilities include the net present value of the following lease payments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fixed payments (including in-substance fixed payments), less any lease
incentives receivable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Variable lease payments that depend on an index or a rate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Amounts expected to be payable by the lessee under residual value guarantees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to
terminate the lease

The lease payments are discounted using the interest rate implicit in the lease if that rate can be readily determined. If that rate cannot be readily determined, the lessee's incremental borrowing rate is used, which is the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.

Right-of-use assets are measured at cost comprising the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The amount of the initial measurement of the lease liability

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any lease payments made at or before the commencement date, less any lease incentives received

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any initial direct costs incurred by the lessee, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An estimate of restoration costs

However, the Company can elect not to apply the requirements of Korean IFRS No.1116 to short-term lease (lease that, at the commencement date, has a lease term of 12 months or less) and leases for which the underlying asset is of low value (for example, underlying leased asset under $5,000).

The right-of-use asset is depreciated from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term.

For sale and leaseback transactions, the Company applies the requirements of Korean IFRS No.1115 *Revenue from Contracts with Customers*, to determine whether the transfer of an asset is accounted for as a sale of that asset.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**4. Financial Risk Management** 

4.1 Summary

4.1.1 Overview of financial risk management policy

The financial risks that the Company is exposed to are credit risk, market risk, liquidity risk, operational risk and others.

This note regarding financial risk management provides information about the risks that the Company is exposed to and about its objectives, policies, risk assessment and management procedures, and capital management. Additional quantitative information is disclosed throughout the separate financial statements.

The Company's risk management system focuses on efficiently supporting long-term strategy and management decisions of the Company by increasing risk transparency, preventing risk transfer between subsidiaries and preemptive response to rapidly changing financial environments. Credit risk, market risk, liquidity risk, operational risk, interest rate risk, insurance risk, credit concentration risk, strategy risk, reputation risk and foreign exchange settlement risk are recognized as significant risks.

4.1.2 Risk management organization

4.1.2.1 Risk Management Committee

The Risk Management Committee, as the ultimate decision-making body, deals with risk-related issues, such as establishing risk management strategies in accordance with the strategic direction determined by the board of directors, determining the affordable level of risk appetite, reviewing the level of risk and the status of risk management activities, approving the application of risk management systems, methodologies, and major improvements, and establishing and approving risk management strategies and procedures to timely recognize, measure, monitor, and control risks arising from various transactions by the Company and subsidiaries (the "Group").

4.1.2.2 Risk Management Council

The Risk Management Council is responsible for consulting on matters delegated by the Risk Management Committee and requests for review by the Group Management Executive Committee, consulting on details of each subsidiary's risk management strategies and procedures, monitoring the Group's risk management status, and establishing and implementing necessary measures.

4.1.2.3 Risk Management Department

The Risk Management Department performs the Company's risk management detailed strategies, procedures, and business processes, and is responsible for calculating the Group's risk-weighted assets, monitoring and managing internal capital limits.

**4.2 Credit Risk**

4.2.1 Overview of credit risk

Credit risk is the risk of loss from the portfolio of assets held due to the counterparty's default, breach of contract, and deterioration of credit quality. For risk management purposes, the Company considers default risk of individual borrowers.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

4.2.2 Credit risk management

The Company measures the expected losses of assets subject to credit risk management and uses them as a management indicator.

4.2.3 Maximum exposure to credit risk

The Company's maximum exposures to credit risk without consideration of collateral values in relation to financial instruments other than equity securities as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Due from financial institutions | W | 974585 | W | 398391 |
|  Loans measured at amortized cost \* |  | 349112 |  | 359054 |
|  Loans measured at fair value through profit or loss |  | 54502 |  | 53952 |
|  Other financial assets \* |  | 46688 |  | 48614 |
|  | W | 1424887 | W | 860011 |

---

\* After netting of allowance

4.2.4 Credit risk of loans

The Company maintains allowances for loan losses associated with credit risk of loans to manage its credit risk.

The Company assesses expected credit losses and recognizes loss allowances of financial assets at amortized cost and financial asset at fair value through other comprehensive income. Financial assets at fair value through profit or loss are excluded. Expected credit losses are a probability-weighted estimate of possible credit losses occurring in a certain range by reflecting reasonable and supportable information that is reasonably available at the end of the reporting period without undue cost or effort, including information about past events, current conditions, and forecasts of future economic conditions. The Company measures the expected credit losses on loans classified as financial assets at amortized cost, by deducting allowances for credit losses. The expected credit losses of loans classified as financial assets at fair value through other comprehensive income are presented in other comprehensive income in the financial statements.

Credit qualities of loans measured at amortized cost as of December 31, 2025 and 2024, are classified as follows:

*(In millions of Korean won)* 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Not applying<br>expected<br>credit losses** | **Total** | **Total** |
| | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Impaired** | **Not applying<br>expected<br>credit losses** | **Total** | **Total** |
|  **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Corporate** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 350000 | W | W | W | W | 350000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  |  |  |  |  |
|  | W | 350000 | W | W | W | W | 350000 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

4.2.4 Credit risk of loans (cont'd)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Not applying<br>expected<br>credit losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Impaired** | **Not applying<br>expected<br>credit losses** | **Total** | **Total** |
|  **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** | **Loans measured at amortized cost \*** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Corporate** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 360000 | W | W | W | W | 360000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  |  |  |  |  |
|  | W | 360000 | W | W | W | W | 360000 |

---

\* Before netting of allowance

Credit qualities of loans graded according to the probability of default as of December 31, 2025 and 2024, are as follows:

---

| | |
|:---|:---|
|  | **Range of<br>probability<br>of default (%)** |
|  Grade 1 | 0.0 ~ 1 |
|  Grade 2 | 1.0 ~ 5 |
|  Grade 3 | 5.0 ~ 15 |
|  Grade 4 | 15.0 ~ 30 |
|  Grade 5 | 30.0 ~ |

---

4.2.5 Credit risk of due from financial institutions

Credit qualities of due from financial institutions as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime expected credit losses** | **Lifetime expected credit losses** | **Not applying<br>expected<br>credit losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Impaired** | **Not applying<br>expected<br>credit losses** | **Total** | **Total** |
|  **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 974585 | W | W | W | W | 974585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  |  |  |  |  |
|  | W | 974585 | W | W | W | W | 974585 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

4.2.5 Credit risk of due from financial institutions (cont'd)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Lifetime expected credit<br>losses** | **Lifetime expected credit<br>losses** | **Not<br>applying<br>expected<br>credit<br>losses** | **Total** | **Total** |
| *(In millions of Korean won)* | **12-month<br>expected<br>credit losses** | **12-month<br>expected<br>credit losses** | **Non-impaired** | **Impaired** | **Not<br>applying<br>expected<br>credit<br>losses** | **Total** | **Total** |
|  **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 1 | W | 398391 | W | W | W | W | 398391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 2 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 3 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 4 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grade 5 |  |  |  |  |  |  |  |
|  | W | 398391 | W | W | W | W | 398391 |

---

4.2.6 Credit risk concentration analysis

4.2.6.1 Classifications of loans by country as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)*  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Corporate<br>loans \*** | **Corporate<br>loans \*** | **%** | **Allowances** | **Allowances** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Korea | W | 404502 | 100.00 | W | (888) | W | 403614 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Corporate<br>loans \*** | **Corporate<br>loans \*** | **%** | **Allowances** | **Allowances** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Korea | W | 413952 | 100.00 | W | (946) | W | 413006 |

---

\* Amount includes loans measured at fair value through profit or loss and amortized cost. 

4.2.6.2 Classifications of corporate loans by industry as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Corporate<br>loans \*** | **Corporate<br>loans \*** | **%** | **Allowances** | **Allowances** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Financial institutions | W | 404502 | 100.00 | W | (888) | W | 403614 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Corporate<br>loans \*** | **Corporate<br>loans \*** | **%** | **Allowances** | **Carrying<br>amount** |
|  Financial institutions | W | 413952 | 100.00 | (946) | 413006 |

---

\* Amount includes loans measured at fair value through profit or loss and amortized cost. 

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

4.2.6.3 Classifications of due from financial institutions by industry as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Amount** | **Amount** | **%** | **Allowances** | **Carrying<br>amount** | **Carrying<br>amount** |
|  **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** |
|  Financial institutions | W | 974585 | 100.00 | W | W | 974585 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Amount** | **Amount** | **%** | **Allowances** | **Carrying<br>amount** | **Carrying<br>amount** |
|  **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** |
|  Financial institutions | W | 398391 | 100.00 | W | W | 398391 |

---

4.2.6.4 Classifications of due from financial institutions by country as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Amount** | **Amount** | **%** | **Allowances** | **Carrying<br>amount** | **Carrying<br>amount** |
|  **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** |
|  Korea | W | 974585 | 100.00 | W | W | 974585 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Amount** | **Amount** | **%** | **Allowances** | **Carrying<br>amount** | **Carrying<br>amount** |
|  **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** | **Due from financial institutions measured at amortized cost** |
|  Korea | W | 398391 | 100.00 | W | W | 398391 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

4.3 Liquidity Risk

4.3.1 Overview of liquidity risk

Liquidity risk is a risk that the Company becomes insolvent due to the mismatch between the inflow and outflow of funds, unexpected cash outflows, or a risk of loss due to financing funds at a high interest rate or disposing of securities at an unfavorable price due to lack of available funds. The Company manages its liquidity risk through analysis of the contractual maturity of all financial assets and liabilities and discloses in six categories such as on demand, less than one month, between one month to three months, between three months to one year, between one year to five years, and over five years.

4.3.2. Liquidity risk management

The liquidity risk is managed by risk management policies and liquidity risk management guidelines set forth in these policies that apply to all risk management policies and procedures that may arise throughout the overall business of the Company.

4.3.3. Analysis of remaining contractual maturity of financial liabilities

The cash flows disclosed in the maturity analysis are undiscounted contractual amounts including principal and future interest payments; as such, amounts in the table below do not match with those in the statements of financial position which are based on discounted cash flows. The future interest payments for floating-rate liabilities are calculated on the assumption that the current interest rate is the same until maturity.

Remaining contractual maturity of financial liabilities as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **On**<br>**Demand** | **Up to**<br>**1 month** | **Up to**<br>**1 month** | **1-3**<br>**months** | **1-3**<br>**months** | **3-12**<br>**months** | **3-12**<br>**months** | **1-5**<br>**years** | **1-5**<br>**years** | **Over 5**<br>**years** | **Over 5**<br>**years** | **Total** | **Total** |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures | W | W | 41812 | W | 17285 | W | 783422 | W | 3736418 | W | 234604 | W | 4813541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lease liabilities |  |  | 51 |  | 89 |  | 365 |  | 258 |  |  |  | 763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities |  |  | 2041 |  | 508 |  |  |  |  |  |  |  | 2549 |
|  | W | W | 43904 | W | 17882 | W | 783787 | W | 3736676 | W | 234604 | W | 4816853 |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **On**<br>**Demand** | **Up to**<br>**1 month** | **Up to**<br>**1 month** | **1-3**<br>**months** | **1-3**<br>**months** | **3-12**<br>**months** | **3-12**<br>**months** | **1-5**<br>**years** | **1-5**<br>**years** | **Over 5**<br>**years** | **Over 5**<br>**years** | **Total** | **Total** |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings | W | W |  | W | 365000 | W | 600000 | W |  | W |  | W | 965000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  |  | 105451 |  | 13009 |  | 626993 |  | 1662628 |  | 774560 |  | 3182641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lease liabilities |  |  | 48 |  | 91 |  | 362 |  | 375 |  |  |  | 876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities |  |  | 2088 |  | 462 |  |  |  |  |  |  |  | 2550 |
|  | W | W | 107587 | W | 378562 | W | 1227355 | W | 1663003 | W | 774560 | W | 4151067 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

4.4 Market Risk

4.4.1 Concept

Market risk refers to risks that can result in losses due to changes in market factors such as interest rate, stock price, and foreign exchange rate, etc. The Company manages the market risks by dividing them into those arising from the trading position and those arising from the non-trading position.

4.4.2 Trading position

In accordance with Financial Holding Companies Act, the Company's main business is to control financial companies or companies closely related to the financial service. And the Company cannot perform any other business other than managing activities as a holding company, therefore there is no risk of trading position.

4.4.3 Non-trading position

Non-trading position refers to the part except trading position, and the main risk the Company is managing is interest rate risk.

4.4.3.1 Interest rate risk

(a) Definition of interest rate risk

Interest rate risk refers to the risk of changes in the value (fair value) of the items in the statement of financial position due to changes in interest rate and the risk of changes in cash flows related to interest income and interest expense arising from investment and financing activities.

(b) Observation method and management indicator on interest rate risk

The main objective of interest rate risk management is to protect the value changes from interest rate fluctuations. The Company applies the Interest Rate Risk in the Banking Book ("IRRBB") standard methodology required for disclosure to measure interest rate risk.

(c) Changes in Economic Value of Equity ("ΔEVE") and Changes in Net Interest Income ("ΔNII")

ΔEVE means changes in equity and earnings due to the changes in value of interest-sensitive assets and liabilities, etc. when interest rate changes, and ΔNII means changes in net interest income. The Company calculates ΔEVE by applying following six interest rate shock and stress scenarios, and ΔNII by applying parallel shock up and parallel shock down scenarios. The interest rate risk for the interest rate shock and stress scenario is calculated only when the risk for each scenario is a loss.

• Scenario 1 : Parallel shock up

• Scenario 2 : Parallel shock down

• Scenario 3 : Steepener shock (short rates down and long rates up)

• Scenario 4 : Flattener shock (short rates up and long rates down)

• Scenario 5 : Short rates shock up

• Scenario 6 : Short rates shock down

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

4.4.3.1 Interest rate risk (cont'd)

ΔEVE is maximum out of six interest rate shock and stress scenarios, and ΔNII is maximum of parallel shock up and parallel shock down scenarios. Results as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** |
|  ΔEVE | W | 489865 | W | 558552 |
|  ΔNII |  | 6096 |  | 24727 |

---

4.5 Capital Management

The Company as a financial holding company under the Financial Holding Companies Act, complies with the consolidated capital adequacy standard established by the financial supervisory authority. This capital adequacy standard is based on Basel III revised by Basel Committee on Banking Supervision in Bank for International Settlements ("BIS") in June 2011 and was implemented in Korea in December 2013. According to this standard, the Group is required to maintain a minimum capital adequacy ratio to risk-weighted assets (Common Equity Tier 1 Capital ratio of 9.0%, Tier 1 Capital ratio of 10.5%, and Total Capital ratio of 12.5%) as of December 31, 2025.

The Group's capital is classified into three categories in accordance with the Detailed Regulations on Supervision of Financial Holding Companies as follows:

• Common Equity Tier 1 Capital: Common equity Tier 1 Capital is the first to take losses of the Group and is the
last to be compensated in liquidation of the Group and not repaid except for liquidation. It includes capital, capital surplus, retained earnings, non-controlling interests of the consolidated subsidiaries,
accumulated other comprehensive income, and other capital surplus, etc.

• Additional Tier 1 Capital: Additional Tier 1 Capital includes capital, capital surplus, etc. related to the
issuance of capital securities of a permanent nature that meets the conditional capital securities requirements.

• Tier 2 Capital: Tier 2 Capital means capital that can compensate for losses of the Group upon liquidation,
including (a) the amount of subordinated bonds with maturity of not less than 5 years that meet the conditional capital securities requirements, and (b) the allowances for credit losses accumulated on the loans which are classified as
normal or precautionary in accordance with Regulations on Supervision of Financial Holding Companies, and others.

The risk-weighted assets are the magnitude of the amount of risk inherent in the total asset held by the Group. The Group calculates risk-weighted assets by each risk (credit risk, market risk, and operational risk) based on the Detailed Regulations on Supervision of Financial Holding Companies and uses them to calculate capital adequacy ratio.

The Group evaluates and manages capital adequacy through separate internal policies. The evaluation of capital adequacy compares the size of available capital (the amount of capital actually available) to the size of internal capital (the amount of capital required to cover all the significant risks faced by the Group under its target credit rating), which monitors financial soundness and provides a risk-adjusted performance measurement basis.

Internal capital refers to the capital required to prevent the Group's insolvency from future unexpected losses. The Group operates a system to measure, allocate and manage internal capital to major subsidiaries by risk type.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

4.5 Capital Management (cont'd)

The Risk Management Committee of the Company determines the risk appetite of the Group, allocates internal capital by risk type and major subsidiaries, and major subsidiaries operate capital efficiently within the range of the allocated internal capital. The Risk Management Department of the Group monitors internal capital limit management and reports it to management and the Risk Management Committee. If the limit of internal capital is expected to be exceeded due to new businesses or business expansion, the Group's capital adequacy management is carried out through review and approval by the Risk Management Committee in advance.

Details of the Company's capital adequacy ratio in accordance with Basel III requirements as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Total Capital: | W | 57823874 | W | 56849484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tier 1 Capital |  | 54292141 |  | 52477447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Equity Tier 1 Capital |  | 49353374 |  | 46794302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Additional Tier 1 Capital |  | 4938767 |  | 5683146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tier 2 Capital |  | 3531733 |  | 4372037 |
|  Risk-Weighted Assets:  |  | 356995709 |  | 345980580 |
|  Total Capital ratio (%): |  | 16.20 |  | 16.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tier 1 Capital ratio (%) |  | 15.21 |  | 15.17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Equity Tier 1 Capital ratio (%) |  | 13.82 |  | 13.53 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**5. Financial Assets and Financial Liabilities** 

5.1 Classification and Fair Value of Financial Instruments

5.1.1 Carrying amount and fair value of financial assets and liabilities by category as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Carrying amount** | **Carrying amount** | **Fair value** | **Fair value** |
|  **Financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial assets at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities | W | 1197105 | W | 1197105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 54502 |  | 54502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial assets at amortized cost** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions |  | 974585 |  | 974585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 349112 |  | 349112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets |  | 46688 |  | 46688 |
|  | W | 2621992 | W | 2621992 |
|  **Financial liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial liabilities at amortized cost** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures | W | 4520297 | W | 4460116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities |  | 18220 |  | 18220 |
|  | W | 4538517 | W | 4478336 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Carrying amount** | **Carrying amount** | **Fair value** | **Fair value** |
|  **Financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial assets at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities | W | 1189519 | W | 1189519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 53952 |  | 53952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial assets at amortized cost** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions |  | 398391 |  | 398391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 359054 |  | 359054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets |  | 48614 |  | 48614 |
|  | W | 2049530 | W | 2049530 |
|  **Financial liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Financial liabilities at amortized cost** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings | W | 965000 | W | 965000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 2962032 |  | 2906349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities |  | 11402 |  | 11402 |
|  | W | 3938434 | W | 3882751 |

---

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The Company discloses the fair value of each class of assets and liabilities in a way that permits it to be compared with its carrying amount at the end of each reporting period. The best evidence of fair value of financial instruments is quoted price in an active market.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

5.1.1 Carrying amount and fair value of financial assets and liabilities by category as of December 31, 2025 and 2024, are as follows: (cont'd)

Methods of determining fair value of financial instruments are as follows:

---

| | |
|:---|:---|
| **Cash and due from**<br> **financial institutions** | Fair value of cash is same as carrying amount. Carrying amount of demand deposit and settlement deposit is a reasonable approximation of fair value because these financial instruments do not have a fixed maturity and are receivable on demand. Fair value of general deposit is measured using Discounted Cash Flow ("DCF") Model. |
| **Securities** | Fair value of financial instruments that are quoted in an active market is determined using the quoted prices. If there is no quoted price, fair value is determined using external professional valuation institutions. The institutions use one or more valuation techniques that are deemed appropriate considering the characteristics of the financial instruments among DCF Model, Imputed Market Value Model, Free Cash Flow to Equity Model, Dividend Discount Model, Risk Adjusted Discount Rate Method, and Net Asset Value Method. |
| **Derivatives** | Fair value of exchange traded derivatives is determined using quoted price in an active market, and fair value of OTC derivatives is determined using valuation techniques. The Company uses internally developed valuation models that are widely used by market participants to determine fair value of plain vanilla OTC derivatives including options, interest rate swaps, and currency swaps, based on observable market parameters. However, some complex financial instruments are valued using appropriate models developed from generally accepted market valuation models including the Finite Difference Method ("FDM"), and the MonteCarlo Simulation or valuation results from independent external professional valuation institution. |
| **Loans** | Fair value of loans is determined using DCF model discounting the expected cash flows, which are contractual cash flows adjusted by the expected prepayment rate, at an appropriate discount rate. |
| **Borrowings** | DCF model is used to determine the fair value of borrowings, but in the case of short-term maturity, carrying amount is a reasonable approximation of fair value. |
| **Debentures** | Fair value is determined by using valuation results of external professional valuation institutions, which are calculated using market inputs. |
| **Other financial assets**<br> **and other financial**<br> **liabilities** | Carrying amount is a reasonable approximation of fair value because other financial assets and other financial liabilities are temporary accounts used for other various transactions and their maturities are relatively short or not defined. |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

5.1.2 Fair value hierarchy

The Company believes that valuation techniques used for measuring the fair value of financial instruments are reasonable and that the fair value recognized in the statements of financial position is appropriate. However, the fair value of the financial instruments recognized in the statements of financial position may be different if other valuation techniques or assumptions are used. Additionally, as there are a variety of valuation techniques and assumptions used in measuring fair value, it may be difficult to reasonably compare the fair value with that of other financial institutions.

The Company classifies and discloses fair value of the financial instruments into the three fair value levels as follows:

---

| | |
|:---|:---|
| Level 1 : | The fair values are based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. |
| Level 2 : | The fair values are based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. |
| Level 3 : | The fair values are based on unobservable inputs for the asset or liability. |

---

The fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. If an observable input requires an adjustment using an unobservable input and that adjustment results in a significantly higher or lower fair value measurement, the resulting measurement would be categorized within Level 3 of the fair value hierarchy.

5.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the statements of financial position

Fair value hierarchy of financial assets at fair value in the statements of financial position as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Total** | **Total** |
| *(In millions of Korean won)* | **Level 1** | **Level 2** | **Level 2** | **Level 3** | **Level 3** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities | W | W |  | W | 1197105 | W | 1197105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  |  | 54502 |  |  |  | 54502 |
|  | W | W | 54502 | W | 1197105 | W | 1251607 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Total** | **Total** |
| *(In millions of Korean won)* | **Level 1** | **Level 2** | **Level 2** | **Level 3** | **Level 3** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities | W | W |  | W | 1189519 | W | 1189519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  |  | 53952 |  |  |  | 53952 |
|  | W | W | 53952 | W | 1189519 | W | 1243471 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

5.1.2.1 Fair value hierarchy of financial assets and liabilities at fair value in the statements of financial position (cont'd)

Valuation techniques and inputs of financial assets and liabilities classified as Level 2 and measured at fair value in the statements of financial position as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Fair value** | **Fair value** | **Valuation**<br>**techniques** | **Inputs** |
|  **Financial assets** |  |  |  |  |
|  Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans | W | 54502 | DCF<br>model | Interest rate,<br> Discount rate, etc. |
|  | W | 54502 |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Fair value** | **Fair value** | **Valuation**<br>**techniques** | **Inputs** |
|  **Financial assets** |  |  |  |  |
|  Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans | W | 53952 | DCF<br>model | Interest rate,<br> Discount rate, etc. |
|  | W | 53952 |  |  |

---

5.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed.

Fair value hierarchy of financial assets and liabilities whose fair value is disclosed as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** |
| *(In millions of Korean won)* | **Level 1** | **Level 2** | **Level 2** | **Level 3** | **Level 3** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions <sup>1</sup> | W | W | 974585 | W |  | W | 974585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost <sup>2</sup> |  |  |  |  | 349112 |  | 349112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets <sup>3</sup> |  |  |  |  | 46688 |  | 46688 |
|  | W | W | 974585 | W | 395800 | W | 1370385 |
|  **Financial liabilities** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures | W | W | 4460116 | W |  | W | 4460116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities <sup>3</sup> |  |  |  |  | 18220 |  | 18220 |
|  | W | W | 4460116 | W | 18220 | W | 4478336 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

5.1.2.2 Fair value hierarchy of financial assets and liabilities whose fair value is disclosed (cont'd)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** | **Fair value hierarchy** |
| *(In millions of Korean won)* | **Level 1** | **Level 2** | **Level 2** | **Level 3** | **Level 3** | **Total** | **Total** |
|  **Financial assets** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and due from financial institutions <sup>1</sup> | W | W | 398391 | W |  | W | 398391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost <sup>2</sup> |  |  |  |  | 359054 |  | 359054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial assets <sup>3</sup> |  |  |  |  | 48614 |  | 48614 |
|  | W | W | 398391 | W | 407668 | W | 806059 |
|  **Financial liabilities** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings<sup>4</sup> | W | W | 965000 | W |  | W | 965000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  |  | 2906349 |  |  |  | 2906349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities <sup>3</sup> |  |  |  |  | 11402 |  | 11402 |
|  | W | W | 3871349 | W | 11402 | W | 3882751 |

---

<sup>1</sup> For cash and due from financial institutions classified as level 2, carrying amount is a reasonable approximation of fair value. 

<sup>2</sup> Because loans measured at amortized cost classified as level 3 are loans with residual maturity of less than one year, carrying amounts are reasonable approximations of fair values. 

<sup>3</sup> For other financial assets and other financial liabilities classified as level 3, carrying amounts are reasonable approximations of fair values. 

<sup>4</sup> For borrowings classified as level 2, carrying amount is reasonable approximations of fair value. 

Financial assets and liabilities whose carrying amount is a reasonable approximation of fair value, valuation techniques and inputs are not disclosed.

Valuation techniques and inputs of financial liabilities classified as Level 2, and whose fair value is disclosed as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Fair value** | **Fair value** | **Fair value** | **Fair value** | **Valuation<br>techniques** | **Valuation<br>techniques** | **Inputs** | **Inputs** |
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** | **Valuation<br>techniques** | **Valuation<br>techniques** | **Inputs** | **Inputs** |
|  **Financial liabilities** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures | W | 4460116 | W | 2906349 |  | DCF<br>model |  | Discount<br>rate |

---

5.2 Disclosure of Fair Value Hierarchy Level 3

5.2.1 Valuation policy and process of Level 3 fair value

The Company uses external, independent and qualified valuation service to determine the fair value of financial instruments at the end of every reporting period.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

5.2.2 Changes in fair value (Level 3) measured using valuation technique based on unobservable inputs in the market

5.2.2.1 Changes in financial instruments classified as Level 3 of the fair value hierarchy for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
| *(In millions of Korean won)* | **Financial assets**<br>**at fair value**<br>**through profit or loss** | **Financial assets**<br>**at fair value**<br>**through profit or loss** | **Financial assets**<br>**at fair value**<br>**through profit or loss** | **Financial assets**<br>**at fair value**<br>**through profit or loss** |
|  Beginning | W | 1189519 | W | 1011362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total gains or losses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - Profit or loss |  | 7586 |  | 28157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - Other comprehensive income |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases |  |  |  | 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issues |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Settlements |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers into Level 3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers out of Level 3 |  |  |  |  |
|  Ending | W | 1197105 | W | 1189519 |

---

5.2.2.2 In relation to changes in financial instruments classified as Level 3 of the fair value hierarchy, total gains or losses recognized in profit or loss for the period, and total gains or losses recognized in profit or loss from financial instruments held at the end of the reporting period for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** |
|  | **Losses on<br>financial<br>instruments<br>at fair value<br>through<br>profit or loss** | **Losses on<br>financial<br>instruments<br>at fair value<br>through<br>profit or loss** | **Other<br>operating<br>income** | **Net<br>interest<br>income** | **Gains on<br>financial<br>instruments<br>at fair value<br>through<br>profit or<br>loss** | **Gains on<br>financial<br>instruments<br>at fair value<br>through<br>profit or<br>loss** | **Other<br>operating<br>income** | **Net<br>interest<br>income** |
|  Total gains (losses) included in profit or loss for the period | W | 7586 |  | W | W | 28157 | W | W |
|  Total gains (losses) for the period included in profit or loss for financial instruments held at the end of the reporting period |  | 7586 |  |  |  | 28157 |  |  |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

5.2.3 Sensitivity analysis of changes in unobservable inputs

5.2.3.1 Information about fair value measurements using unobservable inputs as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Fair value** | **Valuation<br>techniques** | **Inputs** | **Unobservable<br>inputs** | **Range of<br>unobservable<br>inputs (%)** | **Relationship of<br>unobservable<br>inputs to fair<br>value** |
|  **Financial assets** | **Financial assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities | W1,197,105 | Hull and White Model,<br> MonteCarlo<br> Simulation | Matrix YTM,<br> Additional spread by grade,<br> Risk spread of company,<br> Valid credit rating,<br> Disclosed information of securities,<br> Estimated volatility of Interest rate | Discount rate | 3.08 ~ 8.82 | The lower the discount rate,<br> the higher the fair value |
|  |  |  |  | Volatility of interest rate | 0.50 ~ 0.69 | The higher the volatility,<br> the higher the fair value fluctuation |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Fair value** | **Valuation<br>techniques** | **Inputs** | **Unobservable<br>inputs** | **Range of<br>unobservable<br>inputs (%)** | **Relationship of<br>unobservable<br>inputs to fair<br>value** |
|  **Financial assets** | **Financial assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities | W1,189,519 | Hull and White Model,<br> MonteCarlo<br> Simulation | Matrix YTM,<br> Additional spread by grade,<br> Risk spread of company,<br> Valid credit rating,<br> Disclosed information of securities,<br> Estimated volatility of Interest rate | Discount rate | 3.41 ~ 8.45 | The lower the discount rate,<br> the higher the fair value |
|  |  |  |  | Volatility of interest rate | 0.56 ~ 0.73 | The higher the volatility,<br> the higher the fair value fluctuation |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

5.2.3.2 Sensitivity analysis of changes in unobservable inputs

Sensitivity analysis of financial instruments is performed to measure favorable and unfavorable changes in fair value of financial instruments which are affected by unobservable parameters, using a statistical technique. When the fair value is affected by more than one input parameter, the amounts represent the most favorable or most unfavorable outcome. There are hybrid securities whose fair value changes are recognized in profit or loss.

Results of the sensitivity analysis of changes in unobservable inputs as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Profit or loss** | **Profit or loss** | **Profit or loss** | **Profit or loss** | **Other comprehensive**<br>**income or loss** | **Other comprehensive**<br>**income or loss** |
| *(In millions of Korean won)* | **Favorable<br>changes** | **Favorable<br>changes** | **Unfavorable<br>changes** | **Unfavorable<br>changes** | **Favorable<br>changes** | **Unfavorable<br>changes** |
|  **Financial assets** |  |  |  |  |  |  |
|  Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities \* | W | 7808 | W | (7626) | W | W |

---

\* The changes in fair value are calculated by increasing or decreasing discount rates (3.08%~8.82%) by 1%p, which are principal unobservable input parameters. 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Profit or loss** | **Profit or loss** | **Profit or loss** | **Profit or loss** | **Other comprehensive**<br>**income or loss** | **Other comprehensive**<br>**income or loss** |
| *(In millions of Korean won)* | **Favorable<br>changes** | **Favorable<br>changes** | **Unfavorable<br>changes** | **Unfavorable<br>changes** | **Favorable<br>changes** | **Unfavorable<br>changes** |
|  **Financial assets** |  |  |  |  |  |  |
|  Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: | Financial assets at fair value through profit or loss: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities \* | W | 7351 | W | (7227) | W | W |

---

\* The changes in fair value are calculated by increasing or decreasing discount rates (3.41% ~ 8.45%) by 1%p, which are principal unobservable input parameters. 

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**6. Due from Financial Institutions** 

6.1 Details of due from financial institutions as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **Financial Institution** | **Interest rate (%)**<br>**as of**<br>**December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Due from financial institutions in Korean won | Due from banks | Kookmin Bank | 0.00 ~ 2.82 | W | 970591 | W | 316781 |
|  |  | KB Savings Bank Co., Ltd. |  |  |  |  | 80000 |
|  |  | Shinhan Bank | 2.50 |  | 3994 |  |  |
|  |  | Standard Chartered Bank Korea Limited |  |  |  |  | 1610 |
|  |  |  |  | W | 974585 | W | 398391 |

---

6.2 Details of a maturity analysis of due from financial institutions other than restricted due from financial institutions, as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Up to**<br>**3 months** | **3~6**<br>**months** | **6~12<br>months** | **1~3**<br>**years** | **Over**<br>**3 years** | **Total** |
|  Due from financial institutions in Korean won | W974,582 | W— | W— | W— | W— | W974,582 |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Up to**<br>**3 months** | **Up to**<br>**3 months** | **3~6**<br>**months** | **3~6**<br>**months** | **6~12<br>months** | **6~12<br>months** | **1~3**<br>**years** | **Over**<br>**3 years** | **Total** | **Total** |
|  Due from financial institutions in Korean won | W | 318388 | W | 30000 | W | 50000 | W | W | W | 398388 |

---

6.3 Details of restricted due from financial institution as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Financial<br>Institution** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** | **Reasons of restriction** |
|  Due from financial institutions in Korean won | Kookmin Bank | W | 3 | W | 3 | Pledged as collateral for the overdraft account |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**7. Financial Assets at Fair Value through Profit or Loss** 

Details of financial assets at fair value through profit or loss as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Financial assets at fair value through profit or loss: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities | W | 1197105 | W | 1189519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans |  | 54502 |  | 53952 |
|  | W | 1251607 | W | 1243471 |

---

**8. Loans Measured at Amortized Cost** 

8.1 Details of loans measured at amortized cost as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Loans measured at amortized cost | W | 350000 | W | 360000 |
|  Less: Allowances for loan losses |  | (888) |  | (946) |
|  | W | 349112 | W | 359054 |

---

8.2 Details of loan types and customer types of loans to customers other than banks, as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Retail** | **Corporate** | **Corporate** | **Credit card** | **Total** | **Total** |
|  Loans | W | W | 350000 | W | W | 350000 |
|  Proportion (%) |  |  | 100.00 |  |  | 100.00 |
|  Less: Allowances |  |  | (888) |  |  | (888) |
|  | W | W | 349112 | W | W | 349112 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Retail** | **Corporate** | **Corporate** | **Credit card** | **Total** | **Total** |
|  Loans | W | W | 360000 | W | W | 360000 |
|  Proportion (%) |  |  | 100.00 |  |  | 100.00 |
|  Less: Allowances |  |  | (946) |  |  | (946) |
|  | W | W | 359054 | W | W | 359054 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**9. Investments in Subsidiaries** 

9.1 Details of subsidiaries as of December 31, 2025, are as follows:

---

| | | |
|:---|:---|:---|
| **Name of subsidiaries** | **Industry** | **Location** |
| Kookmin Bank | Banking and foreign exchange transaction | Korea |
| KB Securities Co., Ltd. | Financial investment | Korea |
| KB Insurance Co., Ltd. | Non-life insurance | Korea |
| KB Kookmin Card Co., Ltd. | Credit card and installment financial business | Korea |
| KB Life Insurance Co., Ltd. | Life insurance | Korea |
| KB Asset Management Co., Ltd. | Investment advisory and investment trust | Korea |
| KB Capital Co., Ltd. | Financial leasing | Korea |
| KB Real Estate Trust Co., Ltd. | Real estate trust management | Korea |
| KB Savings Bank Co., Ltd. | Savings banking | Korea |
| KB Investment Co., Ltd. | Capital investment | Korea |
|  KB Data System Co., Ltd. | System software, development and supply | Korea |

---

9.2 Details of investments in subsidiaries as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **Carrying amount** | **Carrying amount** | **Carrying amount** | **Carrying amount** |
| *(In millions of Korean won, except for shares)*<br> **Name of subsidiaries** | **Number of**<br>**issued shares** | **Ownership**<br>**(%)** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Kookmin Bank | 404379116 | 100.00 | W | 14821721 | W | 14821721 |
|  KB Securities Co., Ltd. <sup>1</sup> | 298620424 | 100.00 |  | 3342391 |  | 3342391 |
|  KB Insurance Co., Ltd. | 66500000 | 100.00 |  | 2375430 |  | 2375430 |
|  KB Kookmin Card Co., Ltd. | 92000000 | 100.00 |  | 1953175 |  | 1953175 |
|  KB Life Insurance Co., Ltd. | 16201518 | 100.00 |  | 2795367 |  | 2795367 |
|  KB Asset Management Co., Ltd. | 7667550 | 100.00 |  | 96312 |  | 96312 |
|  KB Capital Co., Ltd. | 32175147 | 100.00 |  | 873811 |  | 873811 |
|  KB Real Estate Trust Co., Ltd. <sup>2</sup> | 21616085 | 100.00 |  | 271553 |  | 271553 |
|  KB Savings Bank Co., Ltd. | 8001912 | 100.00 |  | 176813 |  | 176813 |
|  KB Investment Co., Ltd. | 22525328 | 100.00 |  | 154910 |  | 154910 |
|  KB Data System Co., Ltd. | 800000 | 100.00 |  | 6334 |  | 6334 |
|  |  |  | W26,867,817 | W26,867,817 | W26,867,817 | W26,867,817 |

---

<sup>1</sup> Subsequent to the reporting period in February 2026, KB Securities Co., Ltd. resolved to issue 33,333,333 common shares at an issue price of W21,000 per share (par value W5,000) through a rights offering to existing shareholders.

<sup>2</sup> Investment in subsidiaries increased by W150,000 million due to the issuance of shares by KB Real Estate Trust Co., Ltd. during the twelve-month period ended December 31, 2024.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

9.3 Changes in accumulated impairment losses of investments in subsidiaries for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Impairment** | **Reversal** | **Ending** | **Ending** |
|  Accumulated impairment losses of investments in subsidiaries | W | (51742) | W | W | W | (51742) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Impairment** | **Reversal** | **Ending** | **Ending** |
|  Accumulated impairment losses of investments in subsidiaries | W | (51742) | W | W | W | (51742) |

---

**10. Property and Equipment** 

10.1 Details of property and equipment as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Acquisition<br>cost** | **Acquisition<br>cost** | **Accumulated<br>depreciation** | **Accumulated<br>depreciation** | **Accumulated<br>impairment<br>losses** | **Carrying**<br>**amount** | **Carrying**<br>**amount** |
|  Leasehold improvements | W | 9120 | W | (8429) | W | W | 691 |
|  Equipment and others |  | 9723 |  | (8132) |  |  | 1591 |
|  Right-of-use assets (buildings) |  | 1128 |  | (926) |  |  | 202 |
|  Right-of-use assets (vehicles) |  | 1457 |  | (1073) |  |  | 384 |
|  Right-of-use assets (others) |  | 34 |  | (6) |  |  | 28 |
|  | W | 21462 | W | (18566) | W | W | 2896 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Acquisition<br>cost** | **Acquisition<br>cost** | **Accumulated<br>depreciation** | **Accumulated<br>depreciation** | **Accumulated<br>impairment<br>losses** | **Carrying**<br>**amount** | **Carrying**<br>**amount** |
|  Leasehold improvements | W | 8651 | W | (7781) | W | W | 870 |
|  Equipment and others |  | 9030 |  | (7865) |  |  | 1165 |
|  Right-of-use assets (buildings) |  | 1514 |  | (1240) |  |  | 274 |
|  Right-of-use assets (vehicles) |  | 1777 |  | (1324) |  |  | 453 |
|  Right-of-use assets (others) |  | 102 |  | (64) |  |  | 38 |
|  | W | 21074 | W | (18274) | W | W | 2800 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

10.2 Changes in property and equipment for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Disposal** | **Disposal** | **Depreciation** | **Depreciation** | **Ending** | **Ending** |
|  Leasehold improvements | W | 870 | W | 469 | W |  | W | (648) | W | 691 |
|  Equipment and others |  | 1165 |  | 1137 |  |  |  | (711) |  | 1591 |
|  Right-of-use assets (buildings) |  | 274 |  | 1102 |  |  |  | (1174) |  | 202 |
|  Right-of-use assets (vehicles) |  | 453 |  | 612 |  | (126) |  | (555) |  | 384 |
|  Right-of-use assets (others) |  | 38 |  | 34 |  |  |  | (44) |  | 28 |
|  | W | 2800 | W | 3354 | W | (126) | W | (3132) | W | 2896 |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Disposal** | **Disposal** | **Depreciation** | **Depreciation** | **Ending** | **Ending** |
|  Leasehold improvements | W | 616 | W | 813 | W |  | W | (559) | W | 870 |
|  Equipment and others |  | 977 |  | 815 |  |  |  | (627) |  | 1165 |
|  Right-of-use assets (buildings) |  | 1086 |  | 1482 |  | (671) |  | (1623) |  | 274 |
|  Right-of-use assets (vehicles) |  | 355 |  | 899 |  | (62) |  | (739) |  | 453 |
|  Right-of-use assets (others) |  | 46 |  | 46 |  |  |  | (54) |  | 38 |
|  | W | 3080 | W | 4055 | W | (733) | W | (3602) | W | 2800 |

---

**11. Intangible Assets** 

11.1 Details of intangible assets as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Acquisition**<br>**cost** | **Acquisition**<br>**cost** | **Accumulated**<br>**amortization** | **Accumulated**<br>**amortization** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Software | W | 6874 | W | (6149) | W |  | W | 725 |
|  Membership rights |  | 11948 |  |  |  | (1834) |  | 10114 |
|  Other intangible assets |  | 16065 |  | (13697) |  |  |  | 2368 |
|  | W | 34887 | W | (19846) | W | (1834) | W | 13207 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Acquisition**<br>**cost** | **Acquisition**<br>**cost** | **Accumulated**<br>**amortization** | **Accumulated**<br>**amortization** | **Accumulated<br>impairment<br>losses** | **Accumulated<br>impairment<br>losses** | **Carrying<br>amount** | **Carrying<br>amount** |
|  Software | W | 6440 | W | (5874) | W |  | W | 566 |
|  Membership rights |  | 11582 |  |  |  | (855) |  | 10727 |
|  Other intangible assets |  | 14975 |  | (11771) |  |  |  | 3204 |
|  | W | 32997 | W | (17645) | W | (855) | W | 14497 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

11.2 Changes in intangible assets for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| (In millions of Korean won) | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Disposal** | **Disposal** | **Amortization** | **Amortization** | **Impairment \*** | **Impairment \*** | **Ending** | **Ending** |
|  Software | W | 566 | W | 434 | W |  | W | (275) | W |  | W | 725 |
|  Membership rights |  | 10727 |  | 504 |  | (135) |  |  |  | (982) |  | 10114 |
|  Other intangible assets |  | 3204 |  | 1090 |  |  |  | (1926) |  |  |  | 2368 |
|  | W | 14497 | W | 2028 | W | (135) | W | (2201) | W | (982) | W | 13207 |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| (In millions of Korean won) | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Disposal** | **Disposal** | **Amortization** | **Amortization** | **Impairment \*** | **Impairment \*** | **Ending** | **Ending** |
|  Software | W | 693 | W | 189 | W |  | W | (316) | W |  | W | 566 |
|  Membership rights |  | 10839 |  | 61 |  | (172) |  |  |  | (1) |  | 10727 |
|  Other intangible assets |  | 4422 |  | 915 |  |  |  | (2133) |  |  |  | 3204 |
|  | W | 15954 | W | 1165 | W | (172) | W | (2449) | W | (1) | W | 14497 |

---

\* Impairment losses for membership rights of other intangible assets with indefinite useful life are recognized when its recoverable amount is lower than its carrying amount, and reversal of impairment losses are recognized when its recoverable amount is higher than its carrying amount. 

11.3 Changes in accumulated impairment losses of intangible assets for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Beginning** | **Impairment** | **Reversal of<br>impairment** | **Disposal<br>and<br>others** | **Ending** |
|  Accumulated impairment losses of intangible assets | W(855) | W(982) | W— | W3 | W(1834) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** |
| **(***millions of Korean won)* | **Beginning** | **Impairment** | **Reversal of<br>impairment** | **Disposal<br>and others** | **Ending** |
|  Accumulated impairment losses of intangible assets | W(858) | W(1) | W— | W4 | W(855) |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**12. Leases** 

12.1 Amounts Recognized in the Statements of Financial Position

Amounts recognized in the statements of financial position related to lease as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** |
|  Right-of-use property and equipment: <sup>1</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | W | 202 | W | 274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vehicles |  | 384 |  | 453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 28 |  | 38 |
|  | W | 614 | W | 765 |
|  Lease liabilities <sup>2</sup> | W | 741 | W | 844 |

---

<sup>1</sup> Included in property and equipment.

<sup>2</sup> Included in other liabilities.

12.2 Amounts Recognized in the Statements of Comprehensive Income

Amounts recognized in the statements of comprehensive income related to lease for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Depreciation and amortization of right-of-use assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | W | 1174 | W | 1623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vehicles |  | 555 |  | 739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 44 |  | 54 |
|  | W | 1773 | W | 2416 |
|  Interest expenses on the lease liabilities | W | 31 | W | 43 |
|  Expense relating to short-term lease |  | 32 |  | 30 |

---

12.3 Total cash outflows for leases for the years ended December 31, 2025 and 2024 are W 651 million and W 674 million, respectively.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**13. Deferred Income Tax Assets and Liabilities** 

13.1 Details of deferred income tax assets and liabilities as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Net amount** | **Net amount** |
|  Share-based payments | W | 9276 | W |  | W | 9276 |
|  Membership rights |  | 240 |  |  |  | 240 |
|  Defined benefit obligation |  | 3126 |  |  |  | 3126 |
|  Plan assets |  |  |  | (3126) |  | (3126) |
|  Short-term employee benefits |  | 430 |  |  |  | 430 |
|  Gains on valuation of financial assets at fair value through profit or loss |  |  |  | (4704) |  | (4704) |
|  Others |  | 4851 |  | (739) |  | 4112 |
|  |  | 17923 |  | (8569) |  | 9354 |
|  Offsetting of deferred tax assets and liabilities |  | (8569) |  | 8569 |  |  |
|  | W | 9354 | W |  | W | 9354 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Net amount** | **Net amount** |
|  Share-based payments | W | 6682 | W |  | W | 6682 |
|  Membership rights |  | 226 |  |  |  | 226 |
|  Defined benefit obligation |  | 2855 |  |  |  | 2855 |
|  Plan assets |  |  |  | (2855) |  | (2855) |
|  Short-term employee benefits |  | 363 |  |  |  | 363 |
|  Gains on valuation of financial assets at fair value through profit or loss |  |  |  | (2513) |  | (2513) |
|  Others |  | 1203 |  | (704) |  | 499 |
|  |  | 11329 |  | (6072) |  | 5257 |
|  Offsetting of deferred tax assets and liabilities |  | (6072) |  | 6072 |  |  |
|  | W | 5257 | W |  | W | 5257 |

---

13.2 Unrecognized Deferred Income Tax Assets

No deferred income tax assets have been recognized for the deductible temporary differences of W 2,902,347 million and W 51,742 million associated with investments in subsidiaries and impairment losses on investments in subsidiaries, respectively, as of December 31, 2025, due to the uncertainty that these temporary differences will be realized in the future.

13.3 Unrecognized Deferred Income Tax Liabilities

No deferred income tax liabilities have been recognized for the taxable temporary differences of W 2,434,172 million associated with investments in subsidiaries as of December 31, 2025, due to the following reasons:

• The Company is able to control the timing of the reversal of the temporary differences.

• It is probable that these temporary differences will not reverse in the foreseeable future.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

13.4 Changes in cumulative temporary differences for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Decrease** | **Decrease** | **Increase** | **Increase** | **Ending** | **Ending** |
|  **Deductible temporary differences** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based payments | W | 25309 | W | 10772 | W | 19195 | W | 33732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Membership rights |  | 855 |  | 3 |  | 19 |  | 871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries |  | 2902347 |  |  |  |  |  | 2902347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Defined benefit obligation |  | 10816 |  | 2664 |  | 3216 |  | 11368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term employee benefits |  | 1376 |  | 1376 |  | 1563 |  | 1563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses of investments in subsidiaries |  | 51742 |  |  |  |  |  | 51742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 18129 |  | 7758 |  | 7271 |  | 17642 |
|  |  | 3010574 |  | 22573 |  | 31264 |  | 3019265 |
|  **Unrecognized deferred income tax assets:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries |  | 2902347 |  |  |  |  |  | 2902347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses of investments in subsidiaries |  | 51742 |  |  |  |  |  | 51742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 13572 |  |  |  |  |  |  |
|  |  | 42913 |  |  |  |  |  | 65176 |
|  Tax rate (%) \* |  | 26.4 |  |  |  |  |  | 27.5 |
|  **Total deferred income tax assets** | W | 11329 |  |  |  |  | W | 17923 |
|  **Taxable temporary differences** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries | W | (2434172) | W |  | W |  | W | (2434172) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plan assets |  | (10816) |  | (2664) |  | (3216) |  | (11368) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on valuation of financial assets at fair value through profit or loss |  | (9518) |  |  |  | (7587) |  | (17105) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | (2665) |  | (2665) |  | (2688) |  | (2688) |
|  |  | (2457171) |  | (5329) |  | (13491) |  | (2465333) |
|  **Unrecognized deferred income tax liabilities:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries |  | (2434172) |  |  |  |  |  | (2434172) |
|  |  | (22999) |  |  |  |  |  | (31161) |
|  Tax rate (%) \* |  | 26.4 |  |  |  |  |  | 27.5 |
|  **Total deferred income tax liabilities** | W | (6072) |  |  |  |  | W | (8569) |

---

\* Deferred tax assets and liabilities that are expected to be realized after 2026 are measured using the tax rate of 27.5%. 

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Decrease** | **Decrease** | **Increase** | **Increase** | **Ending** | **Ending** |
|  **Deductible temporary differences** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based payments | W | 17816 | W | 7504 | W | 14997 | W | 25309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Membership rights |  | 860 |  | 6 |  | 1 |  | 855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries |  | 2896164 |  | (6183) |  |  |  | 2902347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Defined benefit obligation |  | 8973 |  | 2842 |  | 4685 |  | 10816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term employee benefits |  | 1527 |  | 1527 |  | 1376 |  | 1376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses of investments in subsidiaries |  | 51742 |  |  |  |  |  | 51742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on valuation of financial assets at fair value through profit or loss |  | 2557 |  | 2557 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 23476 |  | 4753 |  | (594) |  | 18129 |
|  |  | 3003115 |  | 13006 |  | 20465 |  | 3010574 |
|  **Unrecognized deferred income tax assets:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries |  | 2896164 |  |  |  |  |  | 2902347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses of investments in subsidiaries |  | 51742 |  |  |  |  |  | 51742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 15296 |  |  |  |  |  | 13572 |
|  |  | 39913 |  |  |  |  |  | 42913 |
|  Tax rate (%) |  | 26.4 |  |  |  |  |  | 26.4 |
|  **Total deferred income tax assets** | W | 10537 |  |  |  |  | W | 11329 |
|  **Taxable temporary differences** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries | W | (2415073) | W | 19099 | W |  | W | (2434172) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plan assets |  | (8973) |  | (2841) |  | (4684) |  | (10816) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  |  |  |  |  | (9518) |  | (9518) |
|  |  | (13924) |  | (7923) |  | 3336 |  | (2665) |
|  |  | (2437970) |  | 8335 |  | (10866) |  | (2457171) |
|  **Unrecognized deferred income tax liabilities:** |  |  |  |  |  |  |  |  |
|  Investments in subsidiaries |  | (2415073) |  |  |  |  |  | (2434172) |
|  |  | (22897) |  |  |  |  |  | (22999) |
|  Tax rate (%) |  | 26.4 |  |  |  |  |  | 26.4 |
|  **Total deferred income tax liabilities** | W | (6045) |  |  |  |  | W | (6072) |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**14. Other Assets** 

14.1 Details of other assets as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,<br>2025** | **December 31,<br>2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  **Other financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued income | W | 10663 | W | 9033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guarantee deposits |  | 36039 |  | 39593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Allowances for credit losses |  | (14) |  | (12) |
|  |  | 46688 |  | 48614 |
|  **Other non-financial assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivables |  | 1333830 |  | 850429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses |  | 952 |  | 13172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advanced payments |  | 34 |  | 419 |
|  |  | 1334816 |  | 864020 |
|  | W | 1381504 | W | 912634 |

---

14.2 Changes in allowances for credit losses of other assets for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Other<br>financial<br>assets** | **Other<br>financial<br>assets** | **Other<br>non-financial<br>assets** | **Total** |
|  Beginning | W | 12 |  | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision(reversal) |  | 2 |  | 2 |
|  Ending | W | 14 |  | 14 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Other<br>financial<br>assets** | **Other<br>financial<br>assets** | **Other<br>non-financial<br>assets** | **Total** | **Total** |
|  Beginning | W | 17 | W | W | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision(reversal) |  | (5) |  |  | (5) |
|  Ending | W | 12 | W | W | 12 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**15. Borrowings** 

15.1 Details of borrowings as of December 31, 2025 and 2024, are as follows:

---

| | | | |
|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Borrowings | W | W | 965000 |

---

15.2 Details of borrowings as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | **Lenders** | **Borrowing date** | **Maturity date** | **Interest rate<br>(%) as of<br>December 31,<br>2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** |
|  Borrowings in Korean won | Other<br>borrowings | KIWOOM<br>SECURITIES<br>Co., Ltd. | Feb. 20, 2024 | Feb. 18, 2025 |  | W – W | 200000 |
|  | Other<br>borrowings | Hanyang<br>SECURITIES<br>Co., Ltd. | Feb. 21, 2024 | Feb. 19, 2025 |  | – | 65000 |
|  | Other<br>borrowings | SK<br>SECURITIES<br>Co., Ltd. | Mar. 21, 2024 | Mar. 20, 2025 |  | – | 100000 |
|  | Other<br>borrowings | KIWOOM<br>SECURITIES<br>Co., Ltd. | Apr. 25, 2024 | Apr. 24, 2025 |  | – | 100000 |
|  | Other<br>borrowings | KIWOOM<br>SECURITIES<br>Co., Ltd. | May 29, 2024 | May 28, 2025 |  | – | 100000 |
|  | Other<br>borrowings | SK<br>SECURITIES<br>Co., Ltd. | Jun. 26, 2024 | Jun. 25, 2025 |  | – | 200000 |
|  | Other<br>borrowings | KIWOOM<br>SECURITIES<br>Co., Ltd. | Jul. 29, 2024 | Jul. 28, 2025 |  | – | 200000 |
|  |  |  |  |  |  | W – W | 965000 |

---

15.3 Maturities of borrowings as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Up to**<br>**3 months** | **3~6**<br>**months** | **6~12**<br>**months** | **1~3**<br>**years** | **Over**<br>**3 years** | **Total** |
|  Borrowings in Korean won | W | W | W | W | W | W |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
|  | **Up to**<br>**3 months** | **Up to**<br>**3 months** | **3~6**<br>**months** | **3~6**<br>**months** | **6~12**<br>**months** | **6~12**<br>**months** | **1~3**<br>**years** | **Over**<br>**3 years** | **Total** | **Total** |
|  Borrowings in Korean won | W | 365000 | W | 400000 | W | 200000 | W | W | W | 965000 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**16. Debentures** 

16.1 Details of debentures as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Issuance date** | **Maturity date** | **Interest rate<br>(%) as of**<br>**December 31,<br>2025** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Unguaranteed debentures No.15-3 | May 12, 2016 | May 12, 2026 | 2.01 | W | 200000 | W | 200000 |
|  Unguaranteed debentures No.18-3 | Jul. 25, 2016 | Jul. 25, 2026 | 1.69 |  | 80000 |  | 80000 |
|  Unguaranteed debentures No.19-3 | Aug. 25, 2016 | Aug. 25, 2026 | 1.69 |  | 120000 |  | 120000 |
|  Unguaranteed debentures No.25-4 | May 24, 2017 | May 24, 2027 | 2.62 |  | 80000 |  | 80000 |
|  Unguaranteed debentures No.28-3 | Aug. 30, 2017 | Aug. 30, 2027 | 2.60 |  | 60000 |  | 60000 |
|  Unguaranteed debentures No.31-3 | Feb. 28, 2018 | Feb. 28, 2028 | 3.02 |  | 60000 |  | 60000 |
|  Unguaranteed debentures No.32-3 | Apr. 6, 2018 | Apr. 6, 2028 | 2.86 |  | 20000 |  | 20000 |
|  Unguaranteed debentures No.33-2 | Jun. 12, 2018 | Jun. 12, 2028 | 2.92 |  | 30000 |  | 30000 |
|  Unguaranteed debentures No.34-3 | Jul. 25, 2018 | Jul. 25, 2025 | 2.71 |  |  |  | 20000 |
|  Unguaranteed debentures No.34-4 | Jul. 25, 2018 | Jul. 25, 2028 | 2.76 |  | 20000 |  | 20000 |
|  Unguaranteed debentures No.36-3 | Feb. 22, 2019 | Feb. 22, 2029 | 2.22 |  | 60000 |  | 60000 |
|  Unguaranteed debentures No.37-2 | Mar. 15, 2019 | Mar. 15, 2029 | 2.16 |  | 70000 |  | 70000 |
|  Unguaranteed debentures No.38-1 | Jun. 19, 2019 | Jun. 19, 2026 | 1.73 |  | 80000 |  | 80000 |
|  Unguaranteed debentures No.38-2 | Jun. 19, 2019 | Jun. 19, 2029 | 1.77 |  | 120000 |  | 120000 |
|  Unguaranteed debentures No.39-2 | Oct. 15, 2019 | Oct. 15, 2029 | 1.67 |  | 40000 |  | 40000 |
|  Unguaranteed debentures No.40-2 | Dec. 4, 2019 | Dec. 4, 2029 | 1.87 |  | 30000 |  | 30000 |
|  Unguaranteed debentures No.41-2 | Jan. 16, 2020 | Jan. 16, 2025 | 1.74 |  |  |  | 100000 |
|  Unguaranteed debentures No.41-3 | Jan. 16, 2020 | Jan. 16, 2030 | 1.88 |  | 40000 |  | 40000 |
|  Subordinated debentures No.1-1 | Feb. 18, 2020 | Feb. 18, 2030 | 2.21 |  | 370000 |  | 370000 |
|  Subordinated debentures No.1-2 | Feb. 18, 2020 | Feb. 18, 2035 | 2.26 |  | 30000 |  | 30000 |
|  Unguaranteed debentures No.42-1 | May 13, 2020 | May 13, 2025 | 1.59 |  |  |  | 130000 |
|  Unguaranteed debentures No.42-2 | May 13, 2020 | May 13, 2030 | 1.78 |  | 70000 |  | 70000 |
|  Unguaranteed debentures No.43-2 | Jun. 16, 2020 | Jun. 16, 2025 | 1.44 |  |  |  | 110000 |
|  Unguaranteed debentures No.43-3 | Jun. 16, 2020 | Jun. 16, 2030 | 1.63 |  | 50000 |  | 50000 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

16.1 Details of debentures as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Issuance date** | **Maturity date** | **Interest rate (%) as of**<br>**December 31, 2025** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Unguaranteed debentures No.44-4 | Aug. 11, 2020 | Aug. 11, 2027 | 1.39 | W | 20000 | W | 20000 |
|  Unguaranteed debentures No.46-2 | Jan. 14, 2021 | Jan. 14, 2026 | 1.43 |  | 30000 |  | 30000 |
|  Unguaranteed debentures No.46-3 | Jan. 14, 2021 | Jan. 14, 2028 | 1.62 |  | 10000 |  | 10000 |
|  Unguaranteed debentures No.46-4 | Jan. 14, 2021 | Jan. 14, 2031 | 1.84 |  | 100000 |  | 100000 |
|  Unguaranteed debentures No.48-2 | Jun. 16, 2022 | Jun. 16, 2025 | 4.27 |  |  |  | 240000 |
|  Unguaranteed debentures No.48-3 | Jun. 16, 2022 | Jun. 16, 2027 | 4.34 |  | 80000 |  | 80000 |
|  Unguaranteed debentures No.48-4 | Jun. 16, 2022 | Jun. 16, 2032 | 4.40 |  | 95000 |  | 95000 |
|  Unguaranteed debentures No.49-1 | Oct. 31, 2024 | Oct. 31, 2025 | 3.31 |  |  |  | 80000 |
|  Unguaranteed debentures No.49-2 | Oct. 31, 2024 | Oct. 31, 2026 | 3.30 |  | 220000 |  | 220000 |
|  Unguaranteed debentures No.49-3 | Oct. 31, 2024 | Oct. 31, 2027 | 3.28 |  | 100000 |  | 100000 |
|  Unguaranteed debentures No.50-1 | Jan. 24, 2025 | Jan. 22, 2027 | 2.92 |  | 200000 |  |  |
|  Unguaranteed debentures No.50-2 | Jan. 24, 2025 | Jan. 24, 2028 | 2.92 |  | 100000 |  |  |
|  Unguaranteed debentures No.51-1 | Feb. 25, 2025 | Feb. 25, 2027 | 2.86 |  | 50000 |  |  |
|  Unguaranteed debentures No.51-2 | Feb. 25, 2025 | Feb. 25, 2028 | 2.92 |  | 250000 |  |  |
|  Unguaranteed debentures No.52-1 | Mar. 24, 2025 | Mar. 24, 2027 | 2.85 |  | 60000 |  |  |
|  Unguaranteed debentures No.52-2 | Mar. 24, 2025 | Mar. 24, 2028 | 2.87 |  | 170000 |  |  |
|  Unguaranteed debentures No.53-1 | Apr. 28, 2025 | Apr. 28, 2027 | 2.66 |  | 130000 |  |  |
|  Unguaranteed debentures No.53-2 | Apr. 28, 2025 | Apr. 28, 2028 | 2.67 |  | 220000 |  |  |
|  Unguaranteed debentures No.54-1 | May 26, 2025 | May 26, 2027 | 2.58 |  | 100000 |  |  |
|  Unguaranteed debentures No.54-2 | May 26, 2025 | May 26, 2028 | 2.63 |  | 200000 |  |  |
|  Unguaranteed debentures No.55-1 | Jul. 21, 2025 | Jul. 21, 2027 | 2.61 |  | 100000 |  |  |
|  Unguaranteed debentures No.55-2 | Jul. 21, 2025 | Jul. 21, 2028 | 2.68 |  | 130000 |  |  |
|  Unguaranteed debentures No.56 | Aug. 11, 2025 | Aug. 11, 2028 | 2.61 |  | 300000 |  |  |
|  Unguaranteed debentures No.57 | Oct. 17, 2025 | Oct. 17, 2028 | 2.70 |  | 230000 |  |  |
|  |  |  |  |  | 4525000 |  | 2965000 |
|  |  |  | Less: Bond Discounts |  | (4703) |  | (2968) |
|  |  |  |  | W | 4520297 | W | 2962032 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

16.2 Maturities of debentures as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Up to**<br>**3 months** | **Up to**<br>**3 months** | **3~6**<br>**months** | **3~6**<br>**months** | **6~12**<br>**months** | **6~12**<br>**months** | **1~3**<br>**years** | **1~3**<br>**years** | **Over**<br>**3 years** | **Over**<br>**3 years** | **Total** | **Total** |
|  Debentures in Korean won | W | 30000 | W | 280000 | W | 420000 | W | 2720000 | W | 1075000 | W | 4525000 |

---

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Up to**<br>**3 months** | **Up to**<br>**3 months** | **3~6**<br>**months** | **3~6**<br>**months** | **6~12**<br>**months** | **6~12**<br>**months** | **1~3**<br>**years** | **1~3**<br>**years** | **Over**<br>**3 years** | **Over**<br>**3 years** | **Total** | **Total** |
|  Debentures in Korean won | W | 100000 | W | 480000 | W | 100000 | W | 1070000 | W | 1215000 | W | 2965000 |

---

16.3 Changes in debentures based on par value for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Issue** | **Issue** | **Repayment** | **Repayment** | **Ending** | **Ending** |
|  Debentures in Korean won | W | 2965000 | W | 2240000 | W | (680000) | W | 4525000 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Issue** | **Issue** | **Repayment** | **Repayment** | **Ending** | **Ending** |
|  Debentures in Korean won \* | W | 3880000 | W | 400000 | W | (1315000) | W | 2965000 |

---

\* Exchangeable bonds amounting to 240,000 million were redeemed on February 14, 2024, due to the exercise of exchange right. 

**17. Net Defined Benefit Liabilities(Assets)** 

17.1 Defined Benefit Plan

The Company operates defined benefit plans which have the following characteristics:

• The Company has the obligation to pay the agreed benefits to all its current and former employees.

• The Company assumes actuarial risk (that benefits will cost more than expected) and investment risk.

The net defined benefit liabilities recognized in the statements of financial position are calculated in accordance with actuarial valuation method using assumptions based on market data and historical data such as discount rate, future salary increase rate, and mortality. Actuarial assumptions may differ from actual results, due to changes in the market conditions, economic trends, and mortality trends.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

17.2 Changes in net defined benefit liabilities for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Present value of<br>defined benefit<br>obligation** | **Present value of<br>defined benefit<br>obligation** | **Fair value of<br>plan assets** | **Fair value of<br>plan assets** | **Net defined<br>benefit liabilities**<br>**(assets)** | **Net defined<br>benefit liabilities**<br>**(assets)** |
|  Beginning | W | 21597 | W | (24499) | W | (2902) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current service cost |  | 1871 |  |  |  | 1871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense (income) |  | 773 |  | (878) |  | (105) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by changes in demographic assumptions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by changes in financial assumptions |  | (423) |  |  |  | (423) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by experience adjustments |  | 996 |  |  |  | 996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return on plan assets (excluding amounts included in interest income) |  |  |  | (186) |  | (186) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contributions by the Company |  |  |  | (2300) |  | (2300) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments from plans (benefit payments) |  | (2664) |  | 2664 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments from the Company |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer in (out) |  | 1034 |  | (1043) |  | (9) |
|  Ending | W | 23184 | W | (26242) | W | (3058) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Present value of<br>defined benefit<br>obligation** | **Present value of<br>defined benefit<br>obligation** | **Fair value of<br>plan assets** | **Fair value of<br>plan assets** | **Net defined<br>benefit liabilities**<br>**(assets)** | **Net defined<br>benefit liabilities**<br>**(assets)** |
|  Beginning | W | 19639 | W | (23333) | W | (3694) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current service cost |  | 1786 |  |  |  | 1786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense (income) |  | 840 |  | (998) |  | (158) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by changes in demographic assumptions |  | (15) |  |  |  | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by changes in financial assumptions |  | 1743 |  |  |  | 1743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Actuarial gains and losses by experience adjustments |  | 330 |  |  |  | 330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return on plan assets (excluding amounts included in interest income) |  |  |  | (10) |  | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contributions by the Company |  |  |  | (2894) |  | (2894) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments from plans (benefit payments) |  | (2842) |  | 2842 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments from the Company |  | (7) |  |  |  | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfer in (out) |  | 123 |  | (106) |  | 17 |
|  Ending | W | 21597 | W | (24499) | W | (2902) |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

17.3 Details of the net defined benefit liabilities as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Present value of defined benefit obligation | W | 23184 | W | 21597 |
|  Fair value of plan assets |  | (26242) |  | (24499) |
|  Net defined benefit liabilities (assets) | W | (3058) | W | (2902) |

---

17.4 Details of post-employment benefits recognized in profit or loss for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Current service cost | W | 1871 | W | 1786 |
|  Net interest expense(income) on net defined benefit liabilities |  | (105) |  | (158) |
|  Post-employment benefits | W | 1766 | W | 1628 |

---

(\*) The gains or losses related to the defined benefit pension plan are fully included in general administrative expenses.

17.5 Details of remeasurements of net defined benefit liabilities recognized in other comprehensive income for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Remeasurements: |  |  |  |  |
|  Return on plan assets (excluding amounts included in interest income) | W | 186 | W | 10 |
|  Actuarial gains or losses |  | (573) |  | (2058) |
|  Income tax effect |  | 102 |  | 541 |
|  Remeasurements after income tax expense | W | (285) | W | (1507) |

---

17.6 Details of fair value of plan assets as of December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| *(In millions of Korean won)* | **Assets quoted**<br>**in an active market** | **Assets not quoted**<br>**in an active market** | **Assets not quoted**<br>**in an active market** | **Total** | **Total** |
|  Cash and due from financial institutions | W | W | 26242 | W | 26242 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | **Assets quoted**<br>**in an active market** | **Assets not quoted<br>in an active market** | **Assets not quoted<br>in an active market** | **Total** | **Total** |
|  Cash and due from financial institutions | W | W | 24499 | W | 24499 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

17.7 Details of significant actuarial assumptions used as of December 31, 2025 and 2024, are as follows:

---

| | | |
|:---|:---|:---|
|  | **December 31, 2025** | **December 31, 2024** |
|  Discount rate (%) | 4.00 | 3.60 |
|  Future salary increase rate (%) | 4.40 | 4.20 |
|  Turnover rate (%) | 1.00 | 1.00 |

---

Mortality assumptions are based on the experience-based mortality table issued by Korea Insurance Development Institute in 2023.

17.8 Results of sensitivity analysis of significant actuarial assumptions as of December 31, 2025, are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | | **Effect on defined benefit obligation** | **Effect on defined benefit obligation** |
|  |<br>**Changes in<br>assumptions** | **Increase in<br>assumptions** | **Decrease in<br>assumptions** |
|  Discount rate (%) | 0.5%p | 4.36% decrease | 4.63% increase |
|  Salary increase rate (%) | 0.5%p | 4.58% increase | 4.35% decrease |
|  Turnover rate (%) | 0.5%p | 0.03% decrease | 0.03% increase |

---

The above sensitivity analysis is based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. The sensitivity of the defined benefit obligation to changes in significant actuarial assumptions is calculated using the same projected unit credit method used in calculating the defined benefit obligation recognized in the statement of financial position.

17.9 Expected maturity analysis of undiscounted pension benefit payments (including expected future benefits) as of December 31, 2025, are as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Up to 1 year** | **Up to 1 year** | **1 ~ 2 years** | **1 ~ 2 years** | **2 ~ 5 years** | **2 ~ 5 years** | **5 ~ 10 years** | **5 ~ 10 years** | **Over 10 years** | **Over 10 years** | **Total** | **Total** |
|  Pension benefits | W | 248 | W | 1208 | W | 3655 | W | 16439 | W | 39000 | W | 60550 |

---

The weighted average duration of the defined benefit obligation is 9.3 years**.**

17.10 Reasonable estimation of expected contribution to plan assets for the next annual reporting period after December 31, 2025 is W 2,000 million.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**18. Other Liabilities** 

Details of other liabilities as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  **Other financial liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payables | W | 1012 | W | 974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses |  | 16467 |  | 9585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lease liabilities |  | 741 |  | 844 |
|  |  | 18220 |  | 11403 |
|  **Other non-financial liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payables |  | 435533 |  | 77460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses |  | 399223 |  | 299142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withholding taxes |  | 575 |  | 523 |
|  |  | 835331 |  | 377125 |
|  | W | 853551 | W | 388528 |

---

**19. Equity** 

19.1 Share Capital

19.1.1 Details of share capital as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Type of share |  | Ordinary share |  | Ordinary share |
|  Number of authorized shares |  | 1000000000 |  | 1000000000 |
|  Par value per share *(In Korean won)*  | W | 5000 | W | 5000 |
|  Number of issued shares |  | 381462103 |  | 393528423 |
|  Share capital \* | W | 2090558 | W | 2090558 |

---

\* Due to the retirement of shares deducted through retained earnings, it is different from the total par value of the shares issued. 

19.1.2 Changes in shares for the years ended December 31, 2025 and 2024, are as follows:

---

| | | |
|:---|:---|:---|
| *(In number of shares)* | **2025** | **2024** |
|  Beginning | 373600719 | 378663825 |
|  Increase |  | 5000000 |
|  Decrease | (15012997) | (10063106) |
|  Ending | 358587722 | 373600719 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

19.2 Hybrid Securities

Details of hybrid securities classified as equity as of December 31, 2025 and 2024, are as follows:

*(In millions of Korean won)* 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Hybrid**<br> **securities** | **Issuance date** | **Maturity** | **Interest rate (%)**<br>**as of**<br>**December 31, 2025** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Series 1-2 | May 2, 2019 | Perpetual bond | 3.44 | W | 49881 | W | 49881 |
|  Series 2-1 \* | May 8, 2020 | Perpetual bond | 3.30 |  |  |  | 324099 |
|  Series 2-2 | May 8, 2020 | Perpetual bond | 3.43 |  | 74812 |  | 74812 |
|  Series 3-1 \* | Jul. 14, 2020 | Perpetual bond | 3.17 |  |  |  | 369099 |
|  Series 3-2 | Jul. 14, 2020 | Perpetual bond | 3.38 |  | 29922 |  | 29922 |
|  Series 4-1\* | Oct. 20, 2020 | Perpetual bond | 3.00 |  |  |  | 433918 |
|  Series 4-2 | Oct. 20, 2020 | Perpetual bond | 3.28 |  | 64843 |  | 64843 |
|  Series 5-1 | Feb. 19, 2021 | Perpetual bond | 2.67 |  | 419056 |  | 419056 |
|  Series 5-2 | Feb. 19, 2021 | Perpetual bond | 2.87 |  | 59862 |  | 59862 |
|  Series 5-3 | Feb. 19, 2021 | Perpetual bond | 3.28 |  | 119727 |  | 119727 |
|  Series 6-1 | May 28, 2021 | Perpetual bond | 3.20 |  | 165563 |  | 165563 |
|  Series 6-2 | May 28, 2021 | Perpetual bond | 3.60 |  | 109708 |  | 109708 |
|  Series 7-1 | Oct. 8, 2021 | Perpetual bond | 3.57 |  | 208453 |  | 208453 |
|  Series 7-2 | Oct. 8, 2021 | Perpetual bond | 3.80 |  | 59834 |  | 59834 |
|  Series 8-1 | Feb. 16, 2022 | Perpetual bond | 4.00 |  | 442955 |  | 442955 |
|  Series 8-2 | Feb. 16, 2022 | Perpetual bond | 4.30 |  | 155626 |  | 155626 |
|  Series 9-1 | May 12, 2022 | Perpetual bond | 4.68 |  | 478814 |  | 478814 |
|  Series 9-2 | May 12, 2022 | Perpetual bond | 4.97 |  | 19906 |  | 19906 |
|  Series 10-1 | Aug. 26, 2022 | Perpetual bond | 4.90 |  | 407936 |  | 407936 |
|  Series 10-2 | Aug. 26, 2022 | Perpetual bond | 5.15 |  | 70819 |  | 70819 |
|  Series 10-3 | Aug. 26, 2022 | Perpetual bond | 5.30 |  | 19944 |  | 19944 |
|  Series 11-1 | Feb. 03, 2023 | Perpetual bond | 4.90 |  | 548666 |  | 548666 |
|  Series 11-2 | Feb. 03, 2023 | Perpetual bond | 5.03 |  | 49871 |  | 49871 |
|  Series 12 | Feb. 28, 2024 | Perpetual bond | 4.39 |  | 399045 |  | 399045 |
|  Series 13 | Jan. 22, 2025 | Perpetual bond | 4.00 |  | 404013 |  |  |
|  |  |  |  | W | 4359256 | W | 5082359 |

---

\* KB Financial Group early redeemed in full its 2-1 AT1 capital securities amounting to W 325,000 million on May 8, 2025, and its 3-1 AT1 capital securities amounting to W 370,000 million on July 14, 2025, following the exercise of the respective call options. In addition, the 4-1 AT1 capital securities amounting to W 435,000 million were fully redeemed on October 20, 2025, upon the exercise of the call option 

The above hybrid securities are early redeemable by the Company after 5 or 7or 10 years from the issuance date.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

19.3 Capital Surplus

Details of capital surplus as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Paid-in capital in excess of par value | W | 13190275 | W | 13190275 |
|  Other capital surplus |  | 1470695 |  | 1473579 |
|  Gains on sales of treasury shares |  | 90621 |  | 90621 |
|  | W | 14751591 | W | 14754475 |

---

19.4 Accumulated Other Comprehensive Income (Loss)

19.4.1 Details of accumulated other comprehensive income (loss) as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Remeasurements of net defined benefit liabilities | W | (8601) | W | (8316) |

---

19.4.2 Changes in accumulated other comprehensive income (loss) for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Changes** | **Changes** | **Tax<br>effect** | **Tax<br>effect** | **Ending** | **Ending** |
|  Remeasurements of net defined benefit liabilities | W | (8316) | W | (387) | W | 102 | W | (8601) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Changes** | **Changes** | **Tax<br>effect** | **Tax<br>effect** | **Ending** | **Ending** |
|  Remeasurements of net defined benefit liabilities | W | (6809) | W | (2048) | W | 541 | W | (8316) |

---

19.5 Retained Earnings

19.5.1 Details of retained earnings as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Legal reserves\* | W | 1436870 | W | 1219810 |
|  Voluntary reserves |  | 982000 |  | 982000 |
|  Regulatory reserve for credit losses |  | 5411 |  | 4061 |
|  Unappropriated retained earnings |  | 3219689 |  | 2099671 |
|  | W | 5643970 | W | 4305542 |

---

\* With respect to the allocation of net profit earned in a fiscal term, the Company must set aside in its legal reserve an amount equal to at least 10% of its profit after tax as reported in the financial statements, each time it pays dividends on its net profits earned until its legal reserve reaches the aggregate amount of its paid-in capital in accordance with Article 53 of the Financial Holding Company Act. The reserve is not available for the payment of cash dividends, but may be transferred to share capital, or used to reduce accumulated deficit. 

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

19.5.2 Statement of appropriation of retained earnings

(Expected date of appropriation for 2025: March 26, 2026)

(Date of appropriation for 2024: March 26, 2025)

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Unappropriated retained earnings** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unappropriated retained earnings carried over from prior years | W | 1582976 | W | 1544021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Profit for the year |  | 3657633 |  | 2170597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quarterly dividends |  | (1004006) |  | (899972) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends on hybrid securities |  | (202392) |  | (199798) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retirement of shares |  | (814522) |  | (515177) |
|  |  | 3219689 |  | 2099671 |
|  **Transfer from voluntary reserves and others** |  |  |  |  |
|  **Appropriation of retained earnings** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legal reserves |  | 365763 |  | 217060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regulatory reserve for credit losses |  | 2432 |  | 1350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash dividends: |  | 573768 |  | 298285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Dividends (rate) per share: W1,605 (32.1%) in 2025)<br> (Dividends (rate) per share: W804 (16.1%) in 2024) |  |  |  |  |
|  |  | 941963 |  | 516695 |
|  **Unappropriated retained earnings to be carried forward** | W | 2277726 | W | 1582976 |

---

19.5.3 Regulatory reserve for credit losses

Measurement and disclosure of regulatory reserve for credit losses are required in accordance with Articles 26 through 28 of the Regulations on Supervision of Financial Holding Companies.

19.5.3.1 Details of regulatory reserve for credit losses as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** |
|  Amounts before appropriation | W | 5411 | W | 4061 |
|  Amounts estimated to be appropriated (reversed) |  | 2432 |  | 1350 |
|  | W | 7843 | W | 5411 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

19.5.3.2 Regulatory reserve for credit losses estimated to be appropriated (reversed) and adjusted profit after provision (reversal) of regulatory reserve for credit losses for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won, except for per share amounts)* | **2025** | **2025** | **2024** | **2024** |
|  Regulatory reserve for credit losses estimated to be appropriated (reversed) | W | 2432 | W | 1350 |
|  Adjusted profit after provision (reversal) of regulatory reserve for credit losses <sup>1,2</sup>  |  | 3452809 |  | 1969449 |
|  Adjusted basic earnings per share after provision (reversal) of regulatory reserve for credit losses <sup>1</sup>  |  | 9450 |  | 5200 |
|  Adjusted diluted earnings per share after provision (reversal) of regulatory reserve for credit losses <sup>1</sup>  |  | 9358 |  | 5138 |

---

<sup>1</sup> Adjusted profit after provision (reversal) of regulatory reserve for credit losses is not based on Korean IFRS. It is calculated by reflecting provision (reversal) of regulatory reserve for credit losses before tax to the net profit for the period.

<sup>2</sup> After deducting dividends on hybrid securities

19.6 Treasury Shares

Changes in treasury shares for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won and in number of shares)* | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Disposal** | **Retirement** | **Retirement** | **Ending** | **Ending** |
|  Number of treasury shares |  | 19927704 |  | 15012997 |  |  | (12066320) |  | 22874381 |
|  Carrying amount | W | 1236060 | W | 1480000 | W | W | (814522) | W | 1901538 |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won and in number of shares)* | **Beginning** | **Beginning** | **Acquisition** | **Acquisition** | **Disposal** | **Disposal** | **Retirement** | **Retirement** | **Ending** | **Ending** |
|  Number of treasury shares\* |  | 24847247 |  | 10063106 |  | (5000000) |  | (9982649) |  | 19927704 |
|  Carrying amount | W | 1165837 | W | 820000 | W | (234600) | W | (515177) | W | 1236060 |

---

\* 5 million treasury shares deposited at the Korea Securities Depository for the exchange of exchangeable bonds were exchanged on February 14, 2024, due to the exercise of exchange right.

On May 15, 2025, the Company retired 4,575,874 treasury shares (W400,000 million) acquired pursuant to the Board resolution dated July 23, 2024, 1,089,097 treasury shares (W100,000 million) acquired pursuant to the Board resolution dated October 24, 2024, and 6,401,349 treasury shares (W520,000 million) acquired pursuant to the Board resolution dated February 5, 2025.

In addition, the Company plans to retire 3,047,395 treasury shares (W300,000 million) acquired pursuant to the Board resolution dated April 24, 2025, and 5,564,253 treasury shares (W660,000 million) acquired pursuant to the Board resolution dated July 24, 2025, on January 15, 2026.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**20. Dividends** 

The annual dividend for the year ended December 31, 2024 amounted to W298,285 million (W804 per share), which was approved at the annual general meeting of shareholders held on March 26, 2025 and paid on April 15, 2025.

In addition, on April 24, 2025, the Board of Directors resolved a quarterly dividend of W334,339 million (W912 per share) with a record date of May 12, 2025, which was paid on May 22, 2025; on July 24, 2025, the Board of Directors resolved a quarterly dividend of W334,651 million (W920 per share) with a record date of August 11, 2025, which was paid on August 22, 2025; and on October 30, 2025, the Board of Directors resolved a quarterly dividend of W335,016 million (W930 per share) with a record date of November 14, 2025, which was paid on November 27, 2025.

The annual dividends for the year ended December 31, 2025 amounts to W573,768 million (W1,605 per share) and is expected to be submitted as an agenda item at the annual general meeting of shareholders scheduled for March 26, 2026. These financial statements do not include any accrual for this proposed dividend.

Meanwhile, the annual dividend for the year ended December 31, 2023, which was paid in 2024, amounted to W587,006 million (W1,530 per share), and total quarterly dividends paid in 2024 amounted to W899,972 million.

**21. Net Interest Income (Expense)** 

Details of interest income, interest expense, and net interest expense for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Interest income** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions | W | 13175 | W | 16169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at amortized cost |  | 14228 |  | 17347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans measured at fair value through profit or loss |  | 3345 |  | 2842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 1131 |  | 2344 |
|  |  | 31879 |  | 38702 |
|  **Interest expense** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings |  | 13452 |  | 25356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures |  | 104596 |  | 75674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 32 |  | 43 |
|  |  | 118080 |  | 101073 |
|  **Net interest expense** | W | (86201) | W | (62371) |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**22. Net Fee and Commission Income (Expense)** 

Details of fee and commission income, fee and commission expense, and net fee and commission expense for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Fee and commission income** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fees earned in Korean won | W | 2134 | W | 2213 |
|  **Fee and commission expense** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fees paid in Korean won |  | 8609 |  | 9030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fees paid in foreign currency |  | 459 |  | 430 |
|  |  | 9068 |  | 9460 |
|  **Net fee and commission expense** | W | (6934) | W | (7247) |

---

**23. Net Gains or Losses on Financial Instruments at Fair Value through Profit or Loss** 

Net gains or losses on financial instruments at fair value through profit or loss include dividend income, gains or losses arising from changes in fair value, and gains or losses arising from sales and redemptions. Details of net gains or losses on financial assets at fair value through profit or loss for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Gains on financial instruments at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend income from financial assets at fair value through profit or loss | W | 67677 | W | 60341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on valuation of financial assets at fair value through profit or loss |  | 9349 |  | 31403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gains on disposal of financial assets at fair value through profit or loss |  | 1806 |  | 148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other gains on financial assets at fair value through profit or loss |  | 1001 |  |  |
|  |  | 79833 |  | 91892 |
|  **Losses on financial instruments at fair value through profit or loss** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on valuation of financial assets at fair value through profit or loss |  | 3026 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Losses on disposal of financial assets at fair value through profit or loss |  | 158 |  |  |
|  |  | 3184 |  |  |
|  **Net gains (losses) on financial instruments at fair value through profit or loss** | W | 76649 | W | 91892 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**24. Net Other Operating Income and Expenses** 

Details of other operating income and expenses for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Other operating income** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend income from subsidiaries | W | 3778446 | W | 2243250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 3 |  | 3 |
|  **Net other operating income** | W | 3778449 | W | 2243253 |

---

**25. General and Administrative Expenses** 

25.1 Details of general and administrative expenses for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Expenses related to employee** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee benefits - salaries | W | 32932 | W | 31646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee benefits - others |  | 5791 |  | 5524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Post-employment benefits - defined benefit plans |  | 1766 |  | 1628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Post-employment benefits - defined contribution plans |  | 474 |  | 382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Share-based payments |  | 19195 |  | 14998 |
|  |  | 60158 |  | 54178 |
|  **Depreciation and amortization** |  | 5333 |  | 6051 |
|  **Other general and administrative expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Travel |  | 1663 |  | 1003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications |  | 1016 |  | 1033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax and dues |  | 690 |  | 505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Publication |  | 345 |  | 353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rental expense |  | 2250 |  | 2380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vehicle |  | 126 |  | 147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service fees |  | 18686 |  | 17362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advertising |  | 1148 |  | 1106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Training |  | 1174 |  | 1356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 10316 |  | 10181 |
|  |  | 37414 |  | 35426 |
|  | W | 102905 | W | 95655 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

25.2 Share-based Payments

Details of share-based payments arrangements for executives and employees of the Company and its subsidiaries as of December 31, 2025, are as follows:

25.2.1 Stock grants linked to long-term performance

---

| | | | |
|:---|:---|:---|:---|
| *(In number of shares)* | **Grant date** | **Number of<br>granted shares<sup>1</sup>** | **Vesting conditions <sup>2</sup>**  |
|  **KB Financial Group Inc.** | **KB Financial Group Inc.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 38 | Nov. 21, 2023 | 55547 | Services fulfillment, market performance <sup>3</sup> 35%, and non-market performance <sup>5</sup> 65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 39 | Jan. 1, 2024 | 47839 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 40 | Feb. 1, 2024 | 489 | Services fulfillment, market performance <sup>3</sup> 30%, and non-market performance <sup>4</sup> 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 41 | Apr. 6, 2024 | 6450 | Services fulfillment, market performance <sup>3</sup> 30%, and non-market performance <sup>4</sup> 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 43 | Jan. 1, 2025 | 33538 | Services fulfillment, market performance <sup>3</sup> 30%, and non-market performance <sup>4</sup> 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 44 | Apr. 7, 2025 | 5540 | Services fulfillment, market performance <sup>3</sup> 30%, and non-market performance <sup>4</sup> 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2015 |  | 1063 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2020 |  | 40 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2022 |  | 13239 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2023 |  | 46315 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2024 |  | 25541 | Satisfied |
|  |  | 235601 |  |
|  **Kookmin Bank** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 96 | Jan. 1, 2024 | 220113 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100%<br> Services fulfillment, market performance <sup>3</sup> 30%, and non-market performance <sup>6</sup> 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 97 | Feb. 1, 2024 | 2045 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 98 | Apr. 22, 2024 | 2962 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 99 | Jul. 5, 2024 | 4929 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 101 | Aug, 24, 2024 | 4453 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 102 | Jan. 1, 2025 | 179314 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100%<br> Services fulfillment, market performance <sup>3</sup> 30%, and non-market performance <sup>4</sup> 70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 103 | Jan. 9, 2025 | 4633 | Services fulfillment, market performance <sup>3</sup> 0~30%, and non-market performance <sup>4</sup> 70~100% |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

25.2.1 Stock grants linked to long-term performance (cont'd)

---

| | | | |
|:---|:---|:---|:---|
| *(In number of shares)* | **Grant date** | **Number of<br>granted shares<sup>1</sup>** | **Vesting conditions <sup>2</sup>**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2022 |  | 29628 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2023 |  | 93891 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2024 |  | 118288 | Satisfied |
|  |  | 660256 |  |
|  **Other subsidiaries** | **Other subsidiaries** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2012 |  | 160 | Services fulfillment, market performance <sup>3</sup> 0~50%, and non-market performance <sup>4</sup> 50~100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2013 |  | 219 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2014 |  | 1028 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 |  | 1155 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2017 |  | 3955 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2018 |  | 11044 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2019 |  | 13255 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 |  | 25783 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2021 |  | 18692 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 |  | 79498 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 |  | 119878 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 |  | 453356 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 |  | 248205 |  |
|  |  | 976228 |  |
|  |  | 1872085 |  |

---

<sup>1</sup> Granted shares represent the total number of shares initially granted to executives and employees who have residual shares as of December 31, 2025 (Deferred grants are residual shares vested as of December 31, 2025). 

<sup>2</sup> Executives and employees were given the right of choice about the timing of the deferred payment (after the date of retirement), payment ratio, and payment period. Accordingly, a certain percentage of the granted shares is deferred for up to five years after the date of retirement after the deferred grant has been confirmed. 

<sup>3</sup> Relative TSR (Total Shareholder Return): [(Fair value at the end of the contract—Fair value at the beginning of the contract) + (Total amount of dividend per share paid during the contract period)] / Fair value at the beginning of the contract 

<sup>4</sup> Performance results of company and employee

<sup>5</sup> EPS (Earnings Per Share), Asset Quality, HCROI (Human Capital Return On Investment), Non-bank segment profit

<sup>6</sup> EPS, Asset Quality

The stock grant linked to long-term performance is an incentive plan that sets, on grant date, the maximum number of shares that can be awarded. Actual shares to be granted is determined in accordance with achievement of pre-set performance targets over the vesting period.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

25.2.2 Stock grants linked to short-term performance

---

| | | |
|:---|:---|:---|
| *(In number of shares)* | **Estimated number of**<br>**vested shares \*** | **Vesting**<br> **conditions** |
|  **KB Financial Group Inc.** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 | 541 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2016 | 1558 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 | 78 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 14653 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 26317 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 23462 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 15312 | Proportional to service period |
|  **Kookmin Bank** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 54211 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 118021 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 97412 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 57301 | Proportional to service period |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other subsidiaries |  |  |
|  **Stock granted in 2015** | 1289 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2016 | 7290 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2017 | 20121 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2018 | 51583 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2019 | 41130 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 | 48423 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2021 | 81625 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 202086 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 409430 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 421073 | Satisfied |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 90545 | Proportional to service period |
|  | 1783461 |  |

---

\* Executives and employees were given the right of choice about the timing of the deferred payment (after the date of retirement), payment ratio, and payment period. Accordingly, a certain percentage of the granted shares is deferred for up to five years after the date of retirement after the deferred grant has been confirmed. 

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

25.2.3 Stock grants are measured at fair value using the MonteCarlo simulation model and assumptions used in measuring the fair value as of December 31, 2025, are as follows:

---

| | | | |
|:---|:---|:---|:---|
| *(In Korean won)* | **Risk-free<br>rate (%)** | **Fair value (market<br>performance condition)** | **Fair value (non-market<br>performance condition)** |
|  **Linked to long-term performance** | **Linked to long-term performance** |  |  |
|  (KB Financial Group Inc.) | (KB Financial Group Inc.) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 38 | 2.56 | 99,026~110,857 | 107,743~120,615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 39 | 2.56 | 111,412~125,944 | 111,412~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 40 | 2.56 | 111,412~125,944 | 111,412~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 41 | 2.56 | 107,266~120,094 | 107,266~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 43 | 2.56 | 98,255~115,478 | 107,266~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 44 | 2.56 | 102,397~114,527 | 103,317~115,556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2015 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2020 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2022 | 2.56 |  | 120,094~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2023 | 2.56 |  | 52,755~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred grant in 2024 | 2.56 |  | 115,556~125,944 |
|  (Kookmin Bank) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 96 | 2.56 | 111,412~125,944 | 111,412~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 97 | 2.56 | 107,266~120,094 | 107,266~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 98 | 2.56 | 107,266~120,094 | 107,266~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 99 | 2.56 | 105,560~118,184 | 107,266~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 101 | 2.56 | 107,266~120,094 | 107,266~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 102 | 2.56 | 88,430~110,006 | 99,417~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 103 | 2.56 | 94,586~105,791 | 103,317~115,556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grant deferred in 2022 | 2.56 |  | 115,556~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grant deferred in 2023 | 2.56 |  | 115,556~120,094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grant deferred in 2024 | 2.56 |  | 115556 |
|  (Other subsidiaries) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2012 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2013 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2014 | 2.56 |  | 52,755~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 | 2.56 |  | 47,631~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2017 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2018 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2019 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2021 | 2.56 |  | 111,412~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 2.56 |  | 52,755~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 2.56 | 102,345~125,944 | 61,294~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 2.56 | 103,576~125,944 | 87,156~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 2.56 | 92,561~118,840 | 80,274~125,944 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

25.2.3 Stock grants are measured at fair value using the MonteCarlo simulation model and assumptions used in measuring the fair value as of December 31, 2025, are as follows: (cont'd)

---

| | | | |
|:---|:---|:---|:---|
| *(In Korean won)* | **Risk-free<br>rate (%)** | **Fair value (market<br>performance condition)** | **Fair value (non-market<br>performance condition)** |
|  **Linked to short-term performance** | **Linked to short-term performance** |  |  |
|  (KB Financial Group Inc.) | (KB Financial Group Inc.) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2016 | 2.56 |  | 115,556~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 2.56 |  | 125944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 2.56 |  | 120,094~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 2.56 |  | 111,412~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 2.56 |  | 111,412~120,094 |
|  (Kookmin Bank) | (Kookmin Bank) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 2.56 |  | 114,461~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 2.56 |  | 62,951~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 2.56 |  | 80,206~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 2.56 |  | 99,417~120,094 |
|  (Other subsidiaries) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2015 | 2.56 |  | 120,094~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2016 | 2.56 |  | 47,631~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2017 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2018 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2019 | 2.56 |  | 45,096~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2020 | 2.56 |  | 50,973~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2021 | 2.56 |  | 87,156~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2022 | 2.56 |  | 52,755~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2023 | 2.56 |  | 87,156~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2024 | 2.56 |  | 87,156~125,944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock granted in 2025 | 2.56 |  | 103,317~123,506 |

---

The Company use the volatility of the stock price over the previous year as the expected volatility, and uses the arithmetic mean of the price-dividend ratio of one year before, two years before, and three years before the base year as the dividend yield and uses one-year risk-free rate of Korea Treasury Bond in order to measure the fair value.

Share-based payments arrangement for subsidiaries was transferred to the Company in 2010, and the related compensation paid to the executives and employees of subsidiaries is reimbursed by subsidiaries. The accrued expenses for share-based payments as of December 31, 2025 and 2024, are W 395,692 million and W 295,867 million, respectively, and the receivables to be reimbursed by subsidiaries for the compensation costs as of December 31, 2025 and 2024, are W 361,960 million and W 270,558 million, respectively. And compensation costs from share-based payments amounting to W 19,195 million and W 14,998 million were recognized for the years ended December 31, 2025 and 2024, respectively.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**26. Net Other Non-Operating Income and Expenses** 

Details of other non-operating income and expenses for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Other non-operating income** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others | W | 1256 | W | 1833 |
|  |  | 1256 |  | 1833 |
|  **Other non-operating expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses of intangible assets |  | 982 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Donation |  | 1066 |  | 1150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Others |  | 3 |  | 672 |
|  |  | 2051 |  | 1823 |
|  **Net other non-operating income** | W | (795) | W | 10 |

---

**27. Income Tax Benefit (Expense)** 

27.1 Details of income tax benefit (expense) for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  **Income tax payable** | W |  | W |  |
|  **Changes in deferred tax assets and liabilities** |  | 4097 |  | 765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Origination and reversal of temporary differences |  | 3723 |  | 765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of changes in tax rates\* |  | 374 |  |  |
|  **Income tax recognized directly in equity** |  | (102) |  | (352) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurements of net defined benefit liabilities |  | (102) |  | (541) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consideration for exchange right of exchangeable bonds |  |  |  | 189 |
|  **Others** |  | (4681) |  | (471) |
|  **Income tax benefit (Expense)** | W | (686) | W | (58) |

---

\* Due to the tax law amendments enacted at the end of 2025, the corporate income tax rate has been revised. Accordingly, deferred tax assets and liabilities expected to be realized after 2026 have been measured using the 27.5% tax rate. 

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

27.2 Analysis of the relationship between net profit before income tax expense and income tax benefit (expense) for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | **Tax rate (%)** | **Amount** | **Amount** | **Tax rate (%)** | **Amount** | **Amount** |
|  Profit before income tax expense |  | W | 3658319 |  | W | 2170655 |
|  Income tax at the applicable tax rate <sup>1</sup> | (26.12) |  | (955434) | (25.92) |  | (562691) |
|  Non-taxable income | 26.67 |  | 975537 | 26.12 |  | 566872 |
|  Non-deductible expenses | (0.02) |  | (833) | (0.10) |  | (2206) |
|  Consolidated tax return effect <sup>2</sup> | (0.56) |  | (20482) | (0.07) |  | (1493) |
|  Effect of changes in the recognition and measurement of deferred tax | 0.13 |  | 4800 | (0.00) |  |  |
|  Effect of changes in tax rates <sup>3</sup> | 0.01 |  | 374 | (0.00) |  |  |
|  Others | (0.13) |  | (4648) | (0.02) |  | (540) |
|  Average effective tax rate and income tax benefit (expense) | (0.02) | W | (686) | (0.00) | W | (58) |

---

<sup>1</sup> For the year ended December 31 2025 and 2024, applicable income tax rate for W 200 million and below is 9.9%, for over W 200 million to W 20,000 million is 20.9%, for over W 20,000 to W 300,000 million is 23.1%, for over W 300,000 is 26.4%. 

<sup>2</sup> Includes the effects of tax loss carryforwards

<sup>3</sup> Due to the tax law amendments enacted at the end of 2025, the corporate income tax rate has been revised. Accordingly, deferred tax assets and liabilities expected to be realized after 2026 have been measured using the 27.5% tax rate. 

27.3 The impact of the global minimum tax

Under the Pillar 2 legislation, the Company is required to pay additional tax on the difference between the jurisdictional GloBE effective tax rate of each constituent entity and the minimum tax rate of 15%. The Company expects to recognize the related effects in its financial statements and pay additional tax for the shortfall from the 15% minimum tax rate arising at its local entity in China.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**28. Earnings per Share** 

28.1 Basic Earnings per Share

Basic earnings per share is calculated from the earnings attributable to ordinary shares.

28.1.1 Weighted average number of ordinary shares outstanding

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2024** | **2024** |
| *(In number of shares)* | **Number of**<br>**shares** | **Accumulated<br>number of shares** | **Number of**<br>**shares** | **Accumulated<br>number of shares** |
|  Number of issued ordinary shares | 381462103 | 140850554475 | 393528423 | 146287481492 |
|  Number of treasury shares \* | (22874381) | (7483617685) | (19927704) | (7659481944) |
|  Average number of ordinary shares outstanding | 358587722 | 133366936790 | 373600719 | 138627999548 |
|  Number of days |  | 365 |  | 366 |
|  Weighted average number of ordinary shares outstanding |  | 365388868 |  | 378765026 |

---

\* Treasury stock retired during the year ended December 31, 2025 and 2024 were deducted from May 15, 2025 and August 14, 2024, respectively.

28.1.2 Basic earnings per share

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In Korean won and in number of shares)* | **2025** | **2025** | **2024** | **2024** |
|  Profit for the period | W | 3657632511429 | W | 2170597148094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deduction: Dividends on hybrid securities |  | (202391550000) |  | (199798800000) |
|  Profit attributable to ordinary equity holders (A) |  | 3455240961429 |  | 1970798348094 |
|  Weighted average number of ordinary shares outstanding (B) |  | 365388868 |  | 378765026 |
|  Basic earnings per share (A/B) | W | 9456 | W | 5203 |

---

28.2 Diluted Earnings per Share

Diluted earnings per share is calculated through increasing the weighted average number of ordinary shares outstanding by the weighted average number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. The Company has dilutive potential ordinary shares such as stock grants and ordinary share exchange right of exchangeable bonds.

A calculation is being made to determine the number of shares that could have been acquired at fair value (determined as the average market share price for the year) based on the monetary value of stock grants. The number of shares calculated above is compared with the number of shares that would have been issued assuming the settlement of stock grants.

Exchangeable bonds are included in potential ordinary shares from the exercisable date of the exchange right, and interest expense after tax for the period is added to profit for diluted earnings per share.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

28.2.1 Adjusted profit for diluted earnings per share

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Profit attributable to the ordinary equity holders\* | W | 3455240961429 | W | 1970798348094 |
|  Adjustment: |  |  |  |  |
|  Interest expense on exchangeable bonds |  |  |  | 306631690 |
|  Adjusted profit for diluted earnings per share | W | 3455240961429 | W | 1971104979784 |

---

\* The amount is after deducting dividends on hybrid securities. 

28.2.2 Weighted average number of ordinary shares outstanding for diluted earnings per share

---

| | | |
|:---|:---|:---|
| *(In number of shares)* | **2025** | **2024** |
|  Weighted average number of ordinary shares outstanding | 365388868 | 378765026 |
|  Adjustment: |  |  |
|  Stock grants | 3583701 | 4001803 |
|  Exchangeable bonds |  | 601093 |
|  Adjusted weighted average number of ordinary shares outstanding for diluted earnings per share | 368972569 | 383367922 |

---

28.2.3 Diluted earnings per share

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In Korean won and in number of shares)* | **2025** | **2025** | **2024** | **2024** |
|  Adjusted profit for diluted earnings per share | W | 3455240961429 | W | 1971104979784 |
|  Adjusted weighted average number of ordinary shares outstanding for diluted earnings per share |  | 368972569 |  | 383367922 |
|  Diluted earnings per share | W | 9364 | W | 5142 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**29. Statement of Cash Flows** 

29.1 Details of cash and cash equivalents as of December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,**<br>**2024** | **December 31,**<br>**2024** |
|  Due from financial institutions | W | 974585 | W | 398391 |
|  Deduction: |  | 974585 |  | 398391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restricted due from financial institutions |  | (3) |  | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from financial institutions with original maturities over three months |  |  |  | (80000) |
|  |  | (3) |  | (80003) |
|  | W | 974582 | W | 318388 |

---

29.2 Significant non-cash transactions for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **2025** | **2025** | **2024** | **2024** |
|  Changes in receivables and payables from consolidated tax return | W | 971824 | W | 579105 |
|  Changes in receivables and payables related to stock grants |  | 91402 |  | 86125 |
|  Exchange of treasury shares through the exercise of exchange rights of exchangeable bonds |  |  |  | 240000 |

---

29.3 Cash inflows and outflows from income tax, interest, and dividends for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | **Activity** | **2025** | **2025** | **2024** | **2024** |
|  Income tax paid | Operating Activity | W | 5922 | W | 6385 |
|  Interest received | Operating Activity |  | 27367 |  | 37706 |
|  Interest paid | Operating Activity |  | 96720 |  | 109209 |
|  Dividends received | Operating Activity |  | 3846103 |  | 2308845 |
|  Dividends paid | Financing Activity |  | 1504682 |  | 1686776 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

29.4 Changes in liabilities arising from financing activities for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Net cash flows** | **Net cash flows** | **Non-cash changes** | **Non-cash changes** | **Ending** | **Ending** |
|  Borrowings | W | 965000 | W | (965000) | W |  | W |  |
|  Debentures |  | 2962032 |  | 1556135 |  | 2130 |  | 4520297 |
|  | W | 3927032 | W | 591135 | W | 2130 | W | 4520297 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Beginning** | **Beginning** | **Net cash flows** | **Net cash flows** | **Non-cash changes** | **Non-cash changes** | **Ending** | **Ending** |
|  Borrowings | W | 100000 | W | 865000 | W |  | W | 965000 |
|  Debentures |  | 3871820 |  | (676055) |  | (233733) |  | 2962032 |
|  | W | 3971820 | W | 188945 | W | (233733) | W | 3927032 |

---

**30. Contingent Liabilities and Commitments** 

30.1 Commitments made with financial institutions as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| *(In millions of Korean won)* | *(In millions of Korean won)* | **Amount of<br>commitments** | **Amount of<br>commitments** | **Amount**<br>**borrowed** | **Amount of<br>commitments** | **Amount of<br>commitments** | **Amount<br>borrowed** |
|  General loan | Hana Bank | W | 200000 | W | W | 200000 | W |
|  General loan | Shinhan Bank |  | 200000 |  |  | 200000 |  |
|  General loan | NongHyup Bank |  | 300000 |  |  | 300000 |  |

---

30.2 Other Matters (including litigation)

The Company has no ongoing lawsuits in which it is a defendant as of December 31, 2025.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

**31. Related Party Transactions** 

According to Korean IFRS No.1024, the Company includes subsidiaries and key management personnel (including family members) in the scope of related parties. The Company discloses balances (receivables and payables) and other amounts arising from transactions with related parties in the notes to the financial statements. Refer to Note 9 for details of subsidiaries. Key management personnel include the executives of the Company, their close family members, and the companies where the executives and/or their close family members have control or joint control.

31.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* |  |  |  |  |
| **Subsidiaries** | **Profit or loss** | **2025** | **2025** | **2024** | **2024** |
|  Kookmin Bank | Interest income | W | 12076 | W | 11863 |
|  | Fee and commission income |  | 1184 |  | 1327 |
|  | Net other operating income <sup>1</sup> |  | 2628438 |  | 1467900 |
|  | General and administrative expenses |  | 12752 |  | 12857 |
|  KB Securities Co., Ltd. | Interest expense |  | 80 |  | 15 |
|  | Fee and commission income |  | 65 |  | 99 |
|  | Net gains (losses) on financial assets at fair value through profit or loss |  | 29578 |  | 44071 |
|  | Net other operating income <sup>1</sup> |  | 580000 |  | 150000 |
|  | General and administrative expenses |  | 1202 |  | 749 |
|  KB Insurance Co., Ltd. | Fee and commission income |  | 70 |  | 105 |
|  | General and administrative expenses |  | 2228 |  | 1735 |
|  | Net other operating income <sup>1</sup> |  | 299982 |  | 249974 |
|  KB Kookmin Card Co., Ltd. | Fee and commission income |  | 23 |  | 26 |
|  | Net other operating income <sup>1</sup> |  |  |  | 185380 |
|  | General and administrative expenses |  | 1410 |  | 350 |
|  | Net non-operating income |  | 5 |  | 4 |
|  KB Life Insurance Co., Ltd. | Fee and commission income |  | 16 |  | 36 |
|  | Net other operating income <sup>1</sup> |  | 250000 |  | 150000 |
|  | General and administrative expenses |  | 803 |  | 817 |
|  KB Asset Management Co., Ltd. | Net other operating income <sup>1</sup> |  | 20000 |  | 40000 |
|  | General and administrative expenses |  | 148 |  | 77 |
|  KB Capital Co., Ltd | Interest income |  |  |  | 4426 |
|  | Fee and commission income |  | 14 |  | 15 |
|  | Net gains on financial assets at fair value through profit or loss |  | 34396 |  | 35193 |
|  | General and administrative expenses |  | 126 |  | 107 |
|  | Provision (reversal) for credit losses |  |  |  | (523) |
|  KB Real Estate Trust. Co., Ltd. | Interest income |  |  |  | 3148 |
|  | Net gains on financial assets at fair value through profit or loss |  | 11700 |  | 9232 |
|  | General and administrative expenses |  | 224 |  | 53 |
|  | Provision (reversal) for credit losses |  |  |  | (133) |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

31.1 Details of significant profit or loss arising from transactions with related parties for the years ended December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |
| **Subsidiaries** | **Profit or loss** | **2025** | **2025** | **2024** | **2024** |
|  KB Savings Bank Co., Ltd. | Interest income | W | 3534 | W | 4756 |
|  | Fee and commission income |  | 1 |  | 1 |
|  | Net gains (losses) on financial assets at fair value through profit or loss |  | (1264) |  | 3248 |
|  KB Investment Co., Ltd. | Interest income |  | 10436 |  | 9629 |
|  | Provision (reversal) for credit losses |  | (56) |  | (117) |
|  KB Data Systems Co., Ltd. | General and administrative expenses |  | 3292 |  | 3854 |

---

<sup>1</sup> Net other operating income includes dividend income from subsidiaries.

31.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |
| **Subsidiaries** | **Assets or liabilities** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Kookmin Bank | Cash and due from financial institutions | W | 970591 | W | 316781 |
|  | Other assets |  | 1015164 |  | 468023 |
|  | Other liabilities |  | 134 |  | 20 |
|  | Property and equipment |  | 175 |  | 237 |
|  KB Securities Co., Ltd. | Financial assets at fair value through profit or loss |  | 543637 |  | 540683 |
|  | Other assets |  | 129601 |  | 100494 |
|  | Other liabilities |  | 177981 |  |  |
|  KB Insurance Co., Ltd. | Other assets |  | 45965 |  | 143520 |
|  | Other liabilities |  | 126661 |  | 46 |
|  KB Kookmin Card Co., Ltd. | Other assets |  | 62601 |  | 78634 |
|  | Other liabilities |  | 936 |  | 895 |
|  KB Life Insurance Co., Ltd. | Other assets |  | 16774 |  | 14235 |
|  | Other liabilities |  | 121861 |  | 69132 |
|  KB Asset Management Co., Ltd. | Other assets |  | 38539 |  | 25549 |
|  KB Capital Co., Ltd. | Financial assets at fair value through profit or loss |  | 500496 |  | 495454 |
|  | Other assets |  | 41580 |  | 48285 |
|  | Other liabilities |  | 6 |  | 11 |
|  KB Real Estate Trust Co., Ltd. | Financial assets at fair value through profit or loss |  | 152972 |  | 153382 |
|  | Other assets |  | 6459 |  | 4431 |
|  KB Savings Bank Co., Ltd. | Cash and due from financial institutions |  |  |  | 80000 |
|  | Financial assets at fair value through profit or loss |  | 54502 |  | 53951 |
|  | Other assets |  | 3985 |  | 3960 |
|  | Other liabilities |  | 525 |  | 808 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements** 

**December 31, 2025 and 2024** 

31.2 Details of significant outstanding balances of receivables and payables arising from transactions with related parties as of December 31, 2025 and 2024, are as follows: (cont'd)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* |  |  |  |  |  |
| **Subsidiaries** | **Assets or liabilities** | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  KB Investment Co., Ltd. | Loans measured at amortized cost (gross amount) | W | 350000 | W | 360000 |
|  | Allowances for credit losses |  | 888 |  | 946 |
|  | Other assets |  | 12345 |  | 6794 |
|  | Other liabilities |  |  |  | 1244 |
|  KB Data Systems Co., Ltd. | Property and equipment |  |  |  | 76 |
|  | Intangible assets |  | 371 |  | 427 |
|  | Other assets |  | 5803 |  | 4274 |
|  | Other liabilities |  | 239 |  | 250 |

---

31.3 Right-of-use assets and lease liabilities with related parties as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Subsidiary | Kookmin Bank | Right-of-use assets | W | 175 | W | 237 |

---

31.4 Credit card commitments provided from related parties as of December 31, 2025 and 2024, are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* | **December 31,**<br>**2025** | **December 31,**<br>**2025** | **December 31,<br>2024** | **December 31,<br>2024** |
|  Subsidiary | KB Kookmin Card Co., Ltd. | Lines of credit for credit card | W | 3000 | W | 3000 |

---

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

31.5 Share transactions with related parties for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions of Korean won)* | *(In millions of Korean won)* | *(In millions of Korean won)* |  |  |  |
| | | | **2025** | **2024** | **2024** |
|  Subsidiary | KB Real Estate Trust Co., Ltd. | Acquisition of hybrid securities | W | W | 150000 |
|  | KB Real Estate Trust Co., Ltd. | Issuance of ordinary share |  |  | 150000 |

---

31.6 Details of significant lending transactions with related parties for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | *(In millions of Korean won)* | **Beginning** | **Beginning** | **Loan** | **Collection** | **Collection** | **Ending** | **Ending** |
|  Subsidiary | KB Investment Co., Ltd. | W | 360000 | W | W | (10000) | W | 350000 |
|  | KB Savings Bank Co., Ltd. <sup>1</sup> |  | 70000 |  |  |  |  | 70000 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | *(In millions of Korean won)* | **Beginning** | **Beginning** | **Loan** | **Loan** | **Collection** | **Collection** | **Ending** | **Ending** |
|  Subsidiary | KB Investment Co., Ltd. | W | 360000 | W |  | W |  | W | 360000 |
|  | KB Capital Co., Ltd. |  | 200000 |  |  |  | (200000) |  |  |
|  | KB Savings Bank Co., Ltd. <sup>1</sup> |  | 70000 |  |  |  |  |  | 70000 |
|  | KB Real Estate Trust Co., Ltd. |  | 50000 |  | 105000 |  | (155000) |  |  |

---

<sup>1</sup> Par value of subordinated bond issued by KB Savings Bank Co., Ltd. The difference between par value and fair value at the acquisition date was accounted for as investments in subsidiaries.

------

**KB Financial Group Inc.** 

**Notes to the Separate Financial Statements**

**December 31, 2025 and 2024**

31.7 Details of compensation to key management personnel for the years ended December 31, 2025 and 2024, are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** | **2025** |
| *(In millions of Korean won)* | **Short-term**<br>**employee<br>benefits** | **Short-term**<br>**employee<br>benefits** | **Post-<br>employment<br>benefits** | **Post-<br>employment<br>benefits** | **Share-based<br>payments** | **Share-based<br>payments** | **Total** | **Total** |
|  Registered directors (executive) | W | 1102 | W | 42 | W | 4786 | W | 5930 |
|  Registered directors (non-executive) |  | 694 |  |  |  |  |  | 694 |
|  Non-registered directors |  | 5697 |  | 240 |  | 14409 |  | 20346 |
|  | W | 7493 | W | 282 | W | 19195 | W | 26970 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
| *(In millions of Korean won)* | **Short-term**<br>**employee<br>benefits** | **Short-term**<br>**employee<br>benefits** | **Post-<br>employment<br>benefits** | **Post-<br>employment<br>benefits** | **Share-based<br>payments** | **Share-based<br>payments** | **Total** | **Total** |
|  Registered directors (executive) | W | 921 | W |  | W | 3360 | W | 4281 |
|  Registered directors (non-executive) |  | 678 |  |  |  |  |  | 678 |
|  Non-registered directors |  | 5461 |  | 54 |  | 11638 |  | 17153 |
|  | W | 7060 | W | 54 | W | 14998 | W | 22112 |

---

31.8 The Company paid W220 million and W30 million to KB Securities Co., Ltd., a subsidiary, for the underwriting and arrangement of debentures and hybrid securities for the years ended December 31, 2025 and 2024, respectively.

**32. Events after the reporting period** 

Pursuant to the Board resolution dated February 5, 2026, the Company plans to acquire treasury shares amounting to W600,000 million on the Stock Exchange market and cancel them by April 20, 2026.

**33. Approval of Issuance of the Financial Statements** 

The issuance of the Company's separate financial statements as of and for the year ended December 31, 2025, was initially approved on February 5, 2026 and re-approved due to revision on March 5, 2026 by the Board of Directors.

------

**Independent Auditor's Report on** 

**Internal Control over Financial Reporting** 

(English Translation of a Report Originally Issued in Korean)

**To Shareholders and the Board of Directors of KB Financial Group Inc.** 

**Opinion on Internal Control over Financial Reporting** 

We have audited KB Financial Group Inc.'s (the Company) Internal Control over Financial Reporting as at December 31, 2025, based on *Conceptual Framework for Designing and Operating Internal Control over Financial Reporting*.

In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as at December 31, 2025, based on *Conceptual Framework for Designing and Operating Internal Control over Financial Reporting*.

We also have audited, in accordance with Korean Standards on Auditing, the separate financial statements of the Company, which comprise the separate statement of financial position as at December 31, 2025, and the separate statement of comprehensive income, separate statement of changes in equity and separate statement of cash flow for the year then ended, and notes to the separate financial statements including material accounting policy information, and our report dated March 6, 2026 expressed an unqualified opinion.

**Basis for Opinion on Internal Control over Financial Reporting** 

We conducted our audit in accordance with Korean Standards on Auditing. Our responsibility under these standards are further described in the *Auditor's Responsibilities for the Audit of Internal Control over Financial Reporting* section of our report. We are independent of the Company in accordance with the ethical requirements of the Republic of Korea that are relevant to our audit of internal control over financial reporting and we have fulfilled our other ethical responsibilities in accordance with the ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

**Responsibilities of Management and Those Charged with Governance for Internal Control over Financial Reporting** 

Management is responsible for designing, implementing and maintaining effective internal control over financial reporting, and for its assessment about the effectiveness of internal control over financial reporting, included in the accompanying *'Operating Status Report of Internal Control over Financial Reporting'.*

Those charged with governance have the responsibilities for overseeing internal control over financial reporting.

**Auditor's Responsibilities for the Audit of Internal Control over Financial Reporting** 

Our responsibility is to express an opinion on the Company's internal control over financial reporting based on our audit. We conducted the audit in accordance with Korean Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.

An audit of internal control over financial reporting involves performing procedures to obtain audit evidence about whether a material weakness exists. The procedures selected depend on the auditor's judgment, including the assessment of the risks that a material weakness exists. An audit includes obtaining an understanding of internal control over financial reporting and testing and evaluating the design and operating effectiveness of internal control over financial reporting based on the assessed risk.

------

**Definition and Inherent Limitations of Internal Control over Financial Reporting** 

An entity's internal control over financial reporting is a process effected by those charged with governance, management, and other personnel, designed to provide reasonable assurance regarding the preparation of reliable financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea. An entity's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the entity; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea, and that receipts and expenditures of the entity are being made only in accordance with authorizations of management and those charged with governance; and (3) provide reasonable assurance regarding prevention, or timely detection and correction of unauthorized acquisition, use, or disposition of the entity's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent, or detect and correct, misstatements. Also, projections of any assessment of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

The engagement partner on the audit resulting in this independent auditor's report is Hee-Won Seo, Certified Public Accountant.

/s/ Samil PricewaterhouseCoopers

Seoul, Korea

March 6, 2026

This report is effective as at March 6, 2026, the audit report date. Certain subsequent events or circumstances, which may occur between the audit report date and the time of reading this report, could have a material impact on the Company's internal control over financial reporting thereto. Accordingly, the readers of the audit report should understand that there is a possibility that the above audit report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

------

**Operating Status Report of** 

**the Internal Control over Financial Reporting** 

To the Shareholder, Board of Directors and Audit Committee of KB Financial Group Inc.

We, as the Chief Executive Officer and the Internal Accounting Manager of KB Financial Group Inc. ("the Company"), assessed operating status of the Company's Internal Control over Financial Reporting ("ICFR") for the year ending December 31, 2025.

Design and operation of ICFR is the responsibility of the Company's management, including the Chief Executive Officer and the Internal Accounting Manager (collectively, "We", "Our" or "Us").

We evaluated whether the Company effectively designed and operated its ICFR to prevent and detect errors or frauds which may cause a misstatement in financial statements to ensure preparation and disclosure of reliable financial information.

We used the 'Conceptual Framework for Designing and Operating Internal Control over Financial Reporting' established by the Operating Committee of Internal Control over Financial Reporting in Korea (the "ICFR Committee") as the criteria for design and operation of the Company's ICFR. And we conducted an evaluation of ICFR based on the Appendix 6 'Standards for Evaluating and Reporting on Internal Control over Financial Reporting' for the Detailed Enforcement Rule of the Regulation on External Audit and Accounting.

Based on our assessment, we concluded that the Company's ICFR is designed and operated effectively as of December 31, 2025, in all material respects, in accordance with the 'Conceptual Framework for Designing and Operating Internal Control over Financial Reporting'.

We certify that this report does not contain any untrue statement of a fact, or omit to state a fact necessary to be presented herein. We also certify that this report does not contain or present any statements which might cause material misunderstandings of the readers, and we have reviewed and verified this report with sufficient care.

[Attachment] Internal Control Activities Performed by the Company to Respond to Fraud Risks Related to Misappropriation of Funds

March 5, 2026

Jong Hee Yang,

Chief Executive Officer

Sang Rok Na,

Internal Accounting Manager

------

**[Attachment] Internal Control Activities Performed by the Company to Respond to Fraud Risks Related to Misappropriation of Funds** 

KB Financial Group Inc. (the "Company") designs and operates Internal Control over Financial Reporting ("ICFR") in accordance with the 「Conceptual Framework for Designing and Operating of Internal Control over Financial Reporting」, including programs for safeguarding of assets and fraud prevention to ensure the reliability of financial statements.

The control activities performed by the Company below summarize 'the key control activities that are directly related to preventing or detecting fraud risks related to misappropriation of funds and others.' among the controls designed for ICFR.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Control Activities Performed by the Company** | **Results of Design and Operating Effectiveness<br>Testing**<br> (Performing department, Timing of performance,<br>etc.) |
| &nbsp;&nbsp;&nbsp; **Entity-level controls** | <br> Executive officers and Employees submit a pledge of practice and compliance with the Code of Ethics posted on the internal network system, and the Compliance Department operates a system to identify and monitor executive officers' and employees' violations of laws and codes of conduct. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Compliance Department [Jun 2025, Nov 2025, Jan 2026]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025, Jan 2026]<br>|
| &nbsp;&nbsp;&nbsp; **Entity-level controls** | <br> Potential issues embedded in the organization are identified and improved and supplemented by reviewing the risk factors of each unit organization and whether control procedures are implemented. For this purpose, the Risk Management Department, etc.<sup>1)</sup> operate procedures such as the integrated self-assessment of internal control and operational risk, and the risk assessment of Internal Control over Financial Reporting.<br><sup>1)</sup> Risk Management Department, Accounting Department, etc. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Risk Management Department, Accounting Department, etc. [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp; **Entity-level controls** | <br> The Internal Audit Department, etc. <sup>1)</sup> operate a proper reporting system for internal control and accounting fraud, etc., and manage reporting channels to maintain confidentiality of whistleblowers and to prevent disadvantage and discrimination against whistleblowers.<br><sup>1)</sup> Audit Department, Compliance Department | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Audit Department, Compliance Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp; **Entity-level controls** | <br> The Audit Committee oversees and ensures the Internal Audit Department to operate as an independent position within the organization by overseeing internal audit activities, and the Internal Audit Department has audit methodologies and reporting procedures to enhance the efficiency and objectivity of audit activities. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Audit Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|

---

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Control Activities Performed by the Company** | **Results of Design and Operating Effectiveness<br>Testing**<br> (Performing department, Timing of performance,<br>etc.) |
| &nbsp;&nbsp;&nbsp; **Entity-level controls** | <br> The Compliance Department assesses the possibility and risk of major violations of laws and regulations and incident occurrence and performs ongoing monitoring procedures, such as compliance monitoring. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Compliance Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp; **Entity-level controls** | <br> The department responsible for managing the rules on authorized approval<sup>1)</sup> clarifies job authorities such as approval limits in accordance with the organization and duty assignment rules, and each Head of Department clearly defines the authority and responsibility lines within the department by issuing duty assignment orders to all employees.<br><sup>1)</sup> Strategic Planning Department | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Strategic Planning Department, each department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp; **Entity-level controls** | <br> The Compliance Department operates a system that, considering the possibility of fraud, administers mandatory leave for personnel in sensitive positions and conducts inspections to verify their compliance with internal control standards. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Compliance Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br> The fund management officer of the Financial Planning Department reports monthly fund operation details and obtains approval from the Head of Department, and the payment/settlement officer of the Human Resources Department transfers all funds deposited by the Financial Planning Department on the same day and performs reconciliation between transfer requests and withdrawal records to prevent and manage misappropriation of funds and cash shortages/excesses. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Financial Planning Department, Human Resources Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br> When opening/closing payment and settlement accounts, the authorized approver<sup>1)</sup> in the Human Resources Department reviews the validity of the reason and approves it.<br><sup>1)</sup> Head of Department, etc. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Human Resources Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br> The department in charge of seal custody manages seals by separately designating the seal custodian and the seal-stamping witness through duty assignment orders, and important certificates are stored and managed in accordance with the register. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Human Resources Department, each department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|

---

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Category** | **Control Activities Performed by the Company** | **Results of Design and Operating Effectiveness<br>Testing**<br> (Performing department, Timing of performance,<br>etc.) |
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br> The fund management officer of the Financial Planning Department reviews application documents such as approval request forms related to financing and related evidence, and proceeds with financing after obtaining approval from the authorized approver<sup>1)</sup>.<br><sup>1)</sup> Head of Department, Chief Officer, etc. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Financial Planning Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br> The fund management officer of the Financial Planning Department reviews application documents such as approval request forms related to repayment of raised funds and related evidence, and proceeds with repayment of raised funds after obtaining approval from the authorized approver<sup>1)</sup>.<br><sup>1)</sup> Head of Department, Chief Officer, etc. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Financial Planning Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br> For fund disbursement transactions, the payment/settlement officer of the Human Resources <br>Department reviews the appropriateness of budget allocation, transaction details and counterparties through disbursement resolution documents and proceeds with fund disbursement after obtaining approval from the authorized approver<sup>1)</sup>.<br><sup>1)</sup> Head of Department, etc. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Human Resources Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br> When acquiring financial products such as securities, the fund management officer of the Financial Planning Department reviews the appropriateness of the transaction based on supporting documents and executes fund operation after obtaining approval from the authorized approver <sup>1).</sup><br><sup>1)</sup> Head of Department, etc. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Financial Planning Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|
| &nbsp;&nbsp;&nbsp;**Treasury controls** | <br> The fund management officer of the Financial Planning Department obtains approval from the Head of Department after reviewing the appropriateness of disposal of financial products such as securities and recognition of income such as interest and dividends, and the closing officer of the Accounting Department reviews whether the transaction details are appropriately reflected in the financial statements. | &nbsp;&nbsp;&nbsp;&nbsp; As a result of testing, no 'material weaknesses' were identified.<br> • Accounting Department [Jun 2025, Nov 2025]<br>• ICFR Team, Accounting Department [Aug 2025, Dec 2025]<br>|

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• The Control Activities performed by the Company and the results of evaluation of the design and operating
effectiveness were prepared based on the department names in the organizational regulations as of December 31, 2025.

• For the controls designed and operated by each department, evaluations of the design and operating effectiveness
of controls are conducted by designating personnel within the same department, excluding the relevant control performers, as evaluators. Furthermore, the evaluation results of each department are independently reviewed by the department in charge of
the Internal Control over Financial Reporting to ensure the objectivity and reliability of the assessment.