KB Kookmin Card Surpasses 1 Trillion KRW in Global Operating Assets... Four Years Since Southeast Asia Expansion

Global Operating Assets of 1.1122 Trillion KRW as of the End of August

[Asia Economy Reporter Yu Je-hoon] KB Kookmin Card has surpassed 1 trillion KRW in global operating assets four years after entering Southeast Asia.

KB Kookmin Card announced on the 7th that as of the end of last month, its global operating assets, which are loan assets for customers, reached 1.1122 trillion KRW, surpassing the 1 trillion KRW mark. Also, the global division's net profit for the first half of this year was 12.1 billion KRW, about eight times higher than the same period last year (1.5 billion KRW).

KB Kookmin Card has been continuously expanding its overseas business by sequentially entering Cambodia in 2018, Indonesia in 2020, and Thailand last year. It has enhanced competitiveness through post-merger integration (PMI) strategies, localization by building cultural consensus with overseas employees, and support from headquarters in funding and risk management.

A KB Kookmin Card official stated, "The rapid growth in global operating assets and performance this year is the result of accelerating overseas expansion strategies by establishing the Global Business Headquarters at the beginning of the year and strengthening the sales capabilities of local subsidiaries in Cambodia, Thailand, and Indonesia. We will continue close cooperation between headquarters and overseas subsidiaries to continuously strengthen global sales capabilities."

By country of overseas expansion, Cambodia established 'KB Daehan Special Bank (KDSB)' in 2018 and has become the top special bank in Cambodia in terms of loan asset size. In Indonesia, in July 2020, KB acquired 'KB Financial Multifinance (KB FMF),' a company specializing in vehicle and motorcycle secured loans and durable goods installment financing. After the acquisition, through headquarters' payment guarantees, procurement costs decreased, product competitiveness improved, and sales capabilities expanded, leading to growth as a top-tier financial company in the multifinance industry.

In Thailand, early last year, KB jointly established 'KB J Capital' with its partner Jaymart Group. They are rapidly expanding transaction volumes by expanding loan recruitment offices (POS) based on the partner's captive channel and launching new loan-only cards (Cash Cards).

This content was produced with the assistance of AI translation services.