KB Financial Group to supply 6.9 trillion won in customized finance this year

KB Financial Group has announced a significant commitment to financial inclusion and economic recovery, pledging 6.9 trillion won in customized financial services for the year.

The initiative, dubbed the 'KB National Happiness Hope Project,' targets young people, low-income individuals, vulnerable populations, small business owners, and self-employed individuals. Key components include 3 trillion won dedicated to inclusive finance and 3.5 trillion won allocated for mid-rate loans.

Within the inclusive finance portion, KB will offer lower interest rates on loans for low-income individuals, such as through the 'New Hope Seed' program. Additionally, the group plans to offer debt relief of up to 90% of the principal for young people and socially vulnerable groups.

KB Kookmin Bank alone intends to supply 1.54 trillion won in mid-rate loans this year, having already provided 306.8 billion won in the first quarter. Other affiliates, including KB Kookmin Card, KB Capital, and KB Savings Bank, will collectively contribute approximately 2 trillion won to mid-rate lending.

Furthermore, KB Financial Group is actively addressing non-performing loans. KB Kookmin Bank plans to write off about 137 billion won in long-term overdue debts in the first half of the year, with an additional 150 billion won slated for the second half. Other affiliates will also write off around 160 billion won in overdue debts.

Looking ahead, KB Financial Group has outlined a long-term vision, committing to invest a total of 110 trillion won over the next five years until 2030. This includes a substantial 97 trillion won for productive finance and 17 trillion won for inclusive finance, underscoring a sustained focus on supporting economic growth and stability for diverse segments of society.