KB Financial Group Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

KB Financial Group (KRX:105560) Second Quarter 2024 Results

Key Financial Results

• Revenue: ₩20t (up 446% from 2Q 2023).
• Net income: ₩1.73t (up 19% from 2Q 2023).
• Profit margin: 8.7% (down from 40% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: ₩4,526 (up from ₩3,776 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

KB Financial Group EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) exceeded analyst estimates by 9.0%.

Looking ahead, revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Banks industry in South Korea.

Performance of the South Korean Banks industry.

The company's shares are up 3.7% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for KB Financial Group that you need to be mindful of.

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