Kookmin Bank or KB Kookmin Bank () is among four of the largest banks ranked by asset value in South Korea, as of the end of March 2014.
It is the largest among banks in Korea and the 60th largest in the world as of 2017.
History
The current KB Kookmin Bank was formed in December 2000 in a merger between the old Kookmin Bank and the Housing & Commercial Bank. They were both founded by the Korean government in 1960s for special purposes. Kookmin Bank, which catered towards providing financial services for middle and low income consumers, was privatized in 1995. During the
Asian financial crises both banks acquired other financially troubled banks. The merger of the two banks was partly due to the government policy of making banks bigger and more stable. After the merger, KB acquired various companies include
credit card
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the ...
,
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
and
brokerage firm
A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be con ...
s transforming into the current financial group in 2008. In Sep, 2004, Kookmin Bank said it would restate its 2003 and 2004 earnings after a financial watchdog found the bank avoided $270 million in taxes.
See also
*
Cheongju KB Stars
Cheongju KB Stars ( ko, 청주 KB 스타즈) is a professional basketball club in the Women's Korean Basketball League in South Korea.
Honours
Women's Korean Basketball League
*WKBL Championship
:: Winners (2): 2018–19, 2021–22
:: Runn ...
*
Goyang KB Kookmin Bank FC, a defunct South Korean football team
*
Rainy Sky SA v Kookmin Bank
''Rainy Sky SA and others v Kookmin Bank''
is an English contract law case concerning interpretation of contracts. The Supreme Court confirmed the principle laid down in '' Wickman v Schuler'' that, if the words of a contract have ambiguous me ...
*
List of South Korean companies
A ''list'' is any set of items in a row. List or lists may also refer to:
People
* List (surname)
Organizations
* List College, an undergraduate division of the Jewish Theological Seminary of America
* SC Germania List, German rugby unio ...
*
List of Banks in South Korea
References
External links
Official Website
Banks of South Korea
Companies based in Seoul
South Korean brands
Multinational companies headquartered in South Korea
Banks established in 1963
South Korean companies established in 1963
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