KB Financial Group Inc. | CIK:0001445930 | 3

  • Filed: 4/27/2018
  • Entity registrant name: KB Financial Group Inc. (CIK: 0001445930)
  • Generator: Fujitsu
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1445930/000119312518136720/0001193125-18-136720-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1445930/000119312518136720/kb-20171231.xml
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    • ifrs-full:DisclosureOfFinancialAssetsTransferredDuringPeriodWhichDoNotQualifyForDerecognitionExplanatory

    The Group securitized the loans and issued the asset-backed debentures. The senior debentures and related securitized assets as of December 31, 2016 and 2017, are as follows:

     

    (In millions of Korean won)   2016     2017  
        Carrying amount
    of underlying
    assets    		     Carrying amount
    of senior
    debentures    		     Carrying amount
    of underlying
    assets    		     Carrying amount
    of senior
    debentures    		  
        (In millions of Korean won)  

    KB Kookmin Card Second Securitization Co., Ltd.1

    		   ￦ 605,958     ￦ 361,769     ￦ 495,545     ￦ 107,093  

    KB Kookmin Card Third Securitization Co., Ltd.1

    		     —         —         600,813       324,425  

    KB Kookmin Card Fourth Securitization Co., Ltd.1

    		     —         —         561,495       320,892  

    Wise Mobile Eighth Securitization Specialty2

    		     11,209       —         —         —    

    Wise Mobile Ninth Securitization Specialty2

    		     6,027       —         —         —    

    Wise Mobile Tenth Securitization Specialty2

    		     17,485       9,999       —         —    

    Wise Mobile Eleventh Securitization Specialty2

    		     16,830       9,998       —         —    

    Wise Mobile Twelfth Securitization Specialty2

    		     27,107       19,995       —         —    

    Wise Mobile Thirteenth Securitization Specialty2

    		     31,873       24,996       7,284       —    

    Wise Mobile Fourteenth Securitization Specialty2

    		     52,583       44,991       8,504       —    

    Wise Mobile Fifteenth Securitization Specialty2

    		     68,270       64,983       4,105       —    

    Wise Mobile Sixteenth Securitization Specialty2

    		     114,213       109,966       5,500       —    

    Wise Mobile Seventeenth Securitization Specialty2

    		     118,767       114,955       10,407       4,999  

    Wise Mobile Eighteenth Securitization Specialty2

    		     97,910       94,950       9,340       4,999  
     

     

     

    		    

     

     

    		    

     

     

    		    

     

     

    		  
      ￦ 1,168,232     ￦ 856,602     ￦ 1,702,993     ￦ 762,408  
     

     

     

    		    

     

     

    		    

     

     

    		    

     

     

    		  

     

    1 The Company has an obligation to early redeem the asset-backed debentures upon occurrence of an event specified in the agreement such as when the outstanding balance of the eligible asset-backed securitization (ABS), a trust-type ABS, is below the solvency margin ratio (minimum rate: 104.5%) of the beneficiary interest in the trust. In addition, the Company can entrust additional eligible card transaction accounts and deposits. To avoid such early redemption, the Company entrusts accounts and deposits in addition to the previously entrusted card accounts. Accordingly, as asset-backed debenture holders’ recourse is not limited to the underlying assets, the fair value is not disclosed.
    2 According to the liquidity facility agreement entered between the Special Purpose Companies (SPC) and Woori Bank and NH Bank, if the senior debentures cannot be redeemed by the underlying assets, the senior debentures should be redeemed by borrowings from the liquidity facilities. Accordingly, as senior debenture holders’ recourse is not limited to the underlying assets, the fair value is not disclosed.