KB Financial sustains H1 performance, driven by interest income growth

Its insurance units saw mixed results.

Seoul-based financial holding company, KB Financial, saw its first semester net profit jump 12.2% year-on-year (YoY) to $2.24b.

This was pushed by a higher net interest income of $4.3b or a 5.2% YoY. The larger net interest income was from the cautious repricing of assets and active non-banking profits.

On the other hand, its net fee and commission income fell 1.4% to $1.4b.

ALSO READ: KB Financial Group to merge life insurance subsidiaries

Gross operating income jumps over a quarter (25.8%) from last year’s figures with $6.5b.

Also, the group’s general and administrative expenses saw a rise of 4.1% YoY to $2.4b.

For KB Insurance, profits inched down 0.2% to $390m, whilst its life segment, KB Life surged threefold to $160m.

(₩1.00 = $0.00075)

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