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Kim Ok-ja, head of KB Kookmin Bank's trust business department, center, accepts the Best Custodian Bank in South Korea award on behalf of the company at the Asian Banker Financial Markets Awards 2024 held in Singapore, Thursday. Courtesy of KB Kookmin Bank

KB Kookmin Bank has been selected as the top domestic commercial bank for the 12th consecutive year in the Best Korea Brands 2024 ranking presented by Interbrand, the bank announced earlier this week.Interbrand, the world’s largest brand consulting group, has been annually announcing the top 50 Best Korea Brands since 2013.Out of the 50 brands this year, KB Kookmin Bank secured the eighth spot, with the lender’s brand value estimated to have increased by 3.9 percent compared to last year, reaching 3.4 trillion won ($2.5 billion).The bank followed Samsung Electronics, Hyundai Motor, Kia, Naver, LG Electronics, SK Telecom and Samsung Life in the rankings.Shinhan Bank immediately trailed KB Kookmin Bank as it is ranked ninth. Hana Bank and Woori Bank ranked 12th and 16th respectively.

The Best Korea Brands ranking relies on the same evaluation criteria and methodology that Interbrand utilizes in selecting its Top 100 Brands in the World ranking.KB Financial Group, the holding company of the bank, was ranked first among Korean financial companies in the Banking 500 list announced In March by U.K.-headquartered Brand Finance Banking 500.KB Financial’s brand value was calculated at approximately 7.2 trillion won, up by 16.7 percent compared to last year, taking the highest spot among domestic financial institutions and 63rd place among global financial institutions. KB Kookmin Bank also announced Friday that it has been selected as Best Custodian Bank in South Korea for the 10th consecutive year at the Asian Banker Financial Markets Awards 2024, hosted by the Asian Banker in 메이저 Singapore, Thursday.

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