KB Kookmin Bank expands into senior, inclusive finance services

KB Kookmin Bank CI

KB Kookmin Bank embarked on a major organizational restructuring that is centered on the establishment of dedicated departments to strengthen support for seniors and vulnerable groups.

The South Korean bank announced on Wednesday that it will launch a new “Inclusive Finance Department” to provide more practical support to financially marginalized groups and enhance their access to financial services.

The department will focus on protecting vulnerable populations, developing tailored financial products and services, and contributing to revitalizing local economies as part of the bank’s broader social responsibility efforts.

The bank will also establish the “Golden Life Department,” a dedicated unit offering customized services for senior customers. This department will provide personalized services in areas such as pensions, health, inheritance, and asset management - tailored to clients’ retirement timelines, asset levels, and spending habits - to support their healthier and more financially stable retirements.

KB Financial Group was the first among major financial groups in the country to enter the senior market, launching its senior care subsidiary Golden Life Care back in 2016.

With other financial groups now aggressively expanding into the senior segment, KB is stepping up its efforts by expanding its relevant internal units.

KB Kookmin Bank will also establish a “Retail Customer Analytics Department” to offer more personalized financial services based on individual customer characteristics. This new unit will strengthen data analysis by customer segment and deliver targeted financial solutions.

To this end, dedicated analytics teams will be created within the bank’s Wealth Management (WM) and Small and Medium Enterprise (SME) Strategy departments by adding data analysis specialists.

Additionally, the bank’s existing “ESG Mutual Growth Finance Department” will be renamed the “ESG Business Department” and will be further specialized to systematically oversee ESG strategy development and management.

The bank will also place its Information Security Division under the Chief Compliance Officer’s supervision to strengthen the linkage between internal control and information security. With these changes, KB Kookmin Bank’s organizational structure will be restructured into 18 groups, 27 divisions, and 118 departments in the second half of 2025.