KB Financial Cancels 1.2 Trillion Won Worth of Treasury Shares to Enhance Corporate Value

KB Financial Group announced on January 23 that it had canceled 8.61 million shares of its own stock on January 15 and plans to complete the amended listing with the Korea Exchange by the end of this month.

The shares canceled this time represent the entire amount additionally repurchased since the cancellation in May last year. Based on the previous day's closing price of 134,700 won per share, the value is approximately 1.2 trillion won, accounting for 2.3% of the total number of shares issued.

A KB Financial Group representative stated, "Despite increased domestic and global volatility last year, we fulfilled our commitment to shareholder returns without delay by repurchasing over 15 million shares of our own stock, the largest annual amount in our history. We will continue to enhance shareholder value through ongoing share repurchases and cancellations in the future."