KB Financial Group Inc (KB) Q3 2020 Earnings Call Transcript

As of end of August, KBFG completed the consolidation [Phonetic] of Prudential Life, Korea's top-tier insurer in terms of capital adequacy, sales capabilities and financial stability, as its 13th subsidiary. Driven by robust earnings fundamentals, following the expansion in our nonbank portfolio and pre-emptive and precise risk management, once again, we were able to record a quite stable earnings in the third quarter. While financial support program for hard-hit SMEs and SOHOs have been extended by six more months, which deepened concerns over asset quality deteriorations and have once again put to test risk management capabilities of the Korean banks.