According to the financial authority’s recommendation, last year’s dividend payout ratio and dividend per share were about 20% compared to 2019 ↓
KB Financial Group announced on the 4th that it achieved annual net income of 3,4552 trillion won in 2020. This is a 4.3% increase from the previous year (3,311.8 billion won), and despite the aftermath of Corona 19, thanks to the increase in loan assets and stock investment, it achieved the highest profit ever.
Last year, the dividend payout ratio (shareholder’s dividend out of net income) was lowered to 20% according to the recommendations of the financial authorities, and the dividend per share was also decided at 1770 won, down about 20% from 2019.
A KB Financial official said, “Last year, the Bank of Korea’s base rate cut and the prolonged COVID-19 outbreak were concerned about damaging the bank’s profitability. It has increased significantly and maintained a solid profit body.”
As of the end of last year, the group’s total assets as of the end of last year increased by 17.8% from the end of 2019 (51.8 trillion won) to 61.700 trillion won due to the growth of loan receivables and the incorporation of Prudential Life Insurance affiliates.
The credit loss provisions additionally accumulated by KB Finance in order to proactively respond to the Corona 19 damage were totaled at 370 billion won last year (20.6 billion won in the second quarter, 17.1 billion won in the fourth quarter).
On the other hand, if you look at the results of the fourth quarter of last year alone, KB Financial’s total net profit was 5773 billion won, down 50.5% from the previous third quarter (1,166.6 billion won).
An official from KB Financial said, “The 4th quarter hoped retirement cost (about 249 billion won after tax) and additional provisions related to Corona 19 (about 124 billion won after tax) were incurred. As a result, the base effect appeared in the fourth quarter,” he analyzed. “In terms of ordinary terms excluding these factors, the performance is similar to the previous quarter.”
On the other hand, at the performance presentation on that day, the board of directors of KB Financial Group decided last year to set a dividend payout ratio of 20% and a dividend per share of 1770 won.
A KB Financial official said, “In preparation for the economic downturn and uncertainty caused by the prolonged Corona 19, the dividend level this year was temporarily reduced compared to the previous year. Said.
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