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Kookmin Bank, officially known as KB Kookmin Bank, was founded in South Korea on November 1, 1963, by the Korean government under the name Citizens National Bank. Its initial mandate was to provide accessible financial services primarily to middle- and low-income consumers and small- and medium-sized businesses. The bank began its privatization process with an initial public offering in 1994, with the process culminating in full privatization by December 2003. A major turning point in its history was the series of mergers following the 1997 Asian financial crisis, during which Kookmin Bank absorbed several distressed institutions, including Daedong Bank, Long-Term Credit Bank, and notably, the Housing & Commercial Bank (H&CB) in 2001, which created the modern KB Kookmin Bank.

Currently, Kookmin Bank is a subsidiary of the publicly traded KB Financial Group and is listed on the Korea Stock Exchange, indicating its status as a private, commercial entity. It holds significant importance as a cornerstone of the South Korean financial system, largely due to its scale and focus on retail banking. Kookmin Bank is consistently cited as the largest bank in Korea, distinguished by its extensive customer base and branch network. It acts as a core affiliate of KB Financial Group and plays a vital role in consumer lending and financing for small- and medium-sized corporates within the domestic market.