Securities at Amortized Cost

12 Months Ended

Dec. 31, 2025

10.

SECURITIES AT AMORTIZED COST

(1) Details of securities at amortized cost as of December 31, 2024 and 2025 are as follows (Unit: Korean Won in millions):


	December 31, 2024			December 31, 2025
Korean treasury and government agencies		7,646,463			9,698,695
Financial institutions		4,004,011			3,352,648
Corporates		5,997,996			4,587,881
Bond denominated in foreign currencies		1,555,470			1,079,302
Others		10,000			—
Allowance for credit losses		(10,763	)		(11,067	)

Total		19,203,177			18,707,459

(2) Changes in the loss allowance and gross carrying amount of securities at amortized cost are as follows (Unit: Korean Won in millions):

1) Loss allowance


	For the year ended December 31, 2023
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(8,385	)		—		—		(8,385	)
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Net provision of loss allowance		(5,549	)		—		—		(5,549	)
Others (*)		(7	)		—		—		(7	)

Ending balance		(13,941	)		—		—		(13,941	)

(*)	Changes due to foreign currencies translation, etc.


	For the year ended December 31, 2024
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(13,941	)		—		—		(13,941	)
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Net reversal of loss allowance		3,287			—		—		3,287
Others (*)		(109	)		—		—		(109	)

Ending balance		(10,763	)		—		—		(10,763	)

(*)	Changes due to foreign currencies translation, etc.


	For the year ended December 31, 2025
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(10,763	)		—		—		(10,763	)
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Net provision of loss allowance		(330	)		—		—		(330	)
Others (*)		26			—		—		26

Ending balance		(11,067	)		—		—		(11,067	)

(*)	Changes due to foreign currencies translation, etc.

2) Gross carrying amount


	For the year ended December 31, 2023
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		28,276,901			—		—		28,276,901
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Acquisition		4,244,256			—		—		4,244,256
Disposal / Repayment		(8,727,124	)		—		—		(8,727,124	)
Amortization based on effective interest method		167,219			—		—		167,219
Others (*)		48,861			—		—		48,861

Ending balance		24,010,113			—		—		24,010,113

(*)	Changes due to foreign currencies translation, etc.


	For the year ended December 31, 2024
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		24,010,113			—		—		24,010,113
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Acquisition		2,586,171			—		—		2,586,171
Disposal / Repayment		(7,634,677	)		—		—		(7,634,677	)
Amortization based on effective interest method		93,318			—		—		93,318
Changes due to business combinations		10,000			—		—		10,000
Others (*)		149,015			—		—		149,015

Ending balance		19,213,940			—		—		19,213,940

(*)	Changes due to foreign currencies translation, etc.


	For the year ended December 31, 2025
	Stage 1			Stage 2		Stage 3		Total

Beginning balance		19,213,940			—		—		19,213,940
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Acquisition		5,312,962			—		—		5,312,962
Disposal / Repayment		(5,900,990	)		—		—		(5,900,990	)
Amortization based on effective interest method		111,965			—		—		111,965
Others (*)		(19,351	)		—		—		(19,351	)


Ending balance		18,718,526			—		—		18,718,526

(*)	Changes due to foreign currencies translation, etc.