
Active
This profile is actively maintained
Active
This profile is actively maintainedWebsite | http://www.kbfg.com |
Headquarters |
26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu
Seoul
South Korea
|
CEO/chair |
Jong Kyoo Yoon CEO |
Supervisor | |
Ownership |
listed on Korea Exchange
KB Financial Group's largest shareholder is the National Pension of Korea (7.95%). KBFG's complete shareholder structure can be accessed here. |
Subsidiaries |
KB Kookmin Bank – South Korea
|
KB Financial Group (KBFG), founded in September 2008 and headquartered in Seoul, South Korea is a holding company that engages in providing financial services. The group is South Korea's second largest financial institution in terms of assets. Its main subsidiary is KB Kookmin Bank. KB Financial Group provides corporate, retail and personal banking services and is also involved in insurance and asset management.
KB Financial Group's most important sustainability commitments can be found at the website sections listed below.
Links
KB Financial Group is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of KB Financial Group's link to these deals.
Banks and Climate
The 2022 Banking on Climate Chaos report showed that KB Financial Group provided US$ 12.76 Billion in financing to the fossil fuel industry between 2016 and 2021. Find further details on KB Financial Group fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.
Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in the Coal Policy Tracker and Oil and Gas Policy Tool. Find further details on their assessment of KB Financial Group fossil fuel policy below.
Banks and Human Rights
BankTrack assessed KB Financial Group in its 2022 Human Rights Benchmark Asia, where it achieved 4 points out of 14 and was ranked as a follower. More information is detailed in the "Accountability" section of this profile.
Human Rights Benchmark Asia 2022
Tracking the Net Zero Banking Alliance
KB Financial Group is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.
KB Financial Group mentions in its 2016 Human rights report a grievance mechanism for "those affected by adverse human rights impacts caused during the course of its business operations", but KBFG does not list contact details on its website.
This page evaluates KB Financial Group's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
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