Form 6-K Current Reports
KB’s 2003 Third Quarter Results
2003-10-27On October 24, 2003, Kookmin Bank held an earnings conference and released its operating results for the third quarter of 2003. Followings are the key figures released during the conference, and full presentation material is available at Kookmin Bank website (www.kbstar.com) for further information.
The figures presented in this section have not been fully reviewed by our independent auditor yet, and therefore they may be subject to changes in the due course of review process.
Financial Highlights
• Balance sheet figures
| (tn Won) | As of the date indicated | ||
|---|---|---|---|
| Sep. 30, 2003 | Dec. 31, 2002 | % Change (YTD) | |
| Total Assets | 190.2 | 171.5 | 10.9 |
| Loans in Won | 124.7 | 116.4 | 7.1 |
| Total Liabilities | 180.1 | 161.5 | 11.5 |
| Deposits in Won | 131.2 | 125.2 | 4.8 |
| Total Stockholders' Equity | 10.1 | 10.0 | 1.0 |
• Operating results
| (bn Won) | For the 9 month periods ended June 30 | ||
|---|---|---|---|
| 2003 | 2002 | % Change (YoY) | |
| Operating Income | 478.2 | 1,988.3 | △75.9 |
| Operating Income before Provisioning | 3,191.8 | 2,947.0 | 8.3 |
| Non-operating Income | △1,214.9 | 197.9 | N.A |
| Net Income | △382.1 | 1,512.9 | N.A |
• Key financial indicators are as follows
NIS (cumulative): 3.74%
NIM (cumulative): 3.26%
Return on assets (annualized): △0.21%
Return on equity (annualized): △3.32%
• Asset Quality
| (bn Won) | As of the date indicated | ||
|---|---|---|---|
| Sep. 30, 2003 | Dec. 31, 2002 | % Change (QoQ) | |
| Total Loans for NPL Management | 144,020.5 | 132,178.2 | 9.0 |
| Allowance for Loan Loss | 4,572.1 | 2,498.3 | 83.0 |
| Substandard & Below Ratio | 4.84% | 2.89% | 1.95%p |
| Coverage Ratio | 65.6% | 65.4% | 0.2%p |
| Delinquency Ratio | 3.49% | 2.84% | 0.65%p |
This document and the attached presentation material contain forward-looking statements, as defined in the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Kookmin Bank’s current views with respect to future events and financial performance, and are subject to certain risks and uncertainties, which could cause actual results to differ materially from those anticipated. Although Kookmin Bank believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. Kookmin Bank undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.