Financial Performance - Shinhan Financial Group reported a net income of KRW 4.4 trillion for FY2023, representing a 6.4% decrease from the previous year due to conservative loan loss provisioning[33]. - Operating income grew by 15.6% year-on-year, driven by stable market interest rates and growth in interest income from corporate loans[32]. - The Group's net income for Shinhan Bank was KRW 3,067.7 billion, with a return on equity (ROE) of 9.39%[36]. - Shinhan Asset Management reported a net income of KRW 51.3 billion, achieving an ROE of 20.14%[36]. Shareholder Returns - Shinhan Financial Group implemented share buybacks and cancellations totaling KRW 485.9 billion, enhancing total returns to shareholders[3]. - The Group's total shareholder return reached 36.0% in 2023, up from 30.0% in the previous year[38]. - The Group paid out a cash dividend of KRW 2,100 per share in 2023, with a total dividend amount of KRW 1,086 billion[39][43]. - The dividend yield for 2023 was 4.9%, based on the Korea Exchange[43]. - Share buyback and cancellation programs worth KRW 500 billion were implemented to address undervaluation[39]. - For 2024, the Group plans to distribute profits in a 6:4 ratio, with 60% allocated for internal reserves and 40% for shareholder returns[40][41]. - The total amount of dividends paid in 2023 was KRW 1,086 billion, including both common and preferred shares[43]. - The Group aims to gradually increase total shareholder returns while considering macroeconomic conditions and regulatory stress test results[46]. - In February 2024, the Board of Directors decided to carry out share buyback and cancellations worth KRW 150 billion[41]. Governance and Board Composition - The Board consists of 11 directors, with 82% being independent directors, ensuring a strong governance structure[116]. - The Board has maintained a majority of independent directors, with at least 8 independent members, to enhance decision-making efficiency[115]. - The company aims to ensure the collective suitability of the BOD by appointing independent directors with expertise in areas such as finance, IT, and consumer protection[127]. - The independent directors make up the majority of all sub-committees, ensuring independence and expertise in decision-making[137]. - The Company established the Nomination Advisory Group in 2023 to enhance the objectivity and transparency of the independent director nomination process, expanding it from four to five steps[165]. - The evaluation of independent directors will shift to a 0% weight for self-evaluation and a 90% weight for peer evaluation starting in 2024, aiming for more accurate assessments[170]. - The Company has a two-year term for the initial appointment of independent directors and one-year terms for subsequent reappointments[167]. Organizational Changes and Strategy - An organizational reform was carried out in July 2023 to establish a Customer Protection Division, enhancing customer-centric management[5]. - The Group's management plan for 2024 is under discussion, focusing on alignment with the macroeconomic outlook[68]. - The direction of the Group's ESG management is a key agenda item for discussion among the board members[68]. - The Group's Recovery and Resolution Plan (RRP) is under review to align with strategic objectives[68]. - The board is discussing organizational reform in line with the Group's strategy to enhance operational efficiency[68]. - The Customer Protection Division will integrate the Compliance Team to strengthen links between customer protection and internal control roles starting January 2024[200]. Diversity and Inclusion - The representation of women on the Board of Directors increased from 7.1% in 2021 to a projected 27.3% following the upcoming Annual General Meeting[7]. - The company is committed to enhancing board diversity and expertise, proposing the re-election of 7 independent directors and the appointment of 2 new independent directors[7]. - The nominee Ms. SONG Seongjoo brings expertise in financial engineering and risk management, enhancing the Board's capabilities in these areas[109]. - Mr. CHOI Young-Gwon is recognized for his experience in ESG and capital markets, expected to contribute significantly to the company's strategic direction[113]. Management and Succession Planning - The CEO Recommendation Committee conducted three Management Succession Plan adequacy reviews in 2023, ensuring proper management succession processes[188]. - The Subsidiary CEO Recommendation Committee was renamed in February 2023, focusing on nominating candidates for subsidiary CEOs[142]. - The Company transferred the authority to nominate candidates for subsidiary management to the subsidiaries by the end of 2020, with further delegation of management succession roles to subsidiary CEOs by the end of 2023[142].

EX-99.1 Shinhan Financial Group Review Report for the 3Q of 2023 (Consolidated) SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES Consolidated Interim Financial Statements September 30, 2023 and 2022 (Unaudited) Contents | Report on Review of Interim Financial Statements | 1 | | --- | --- | | Consolidated Interim Statements of Financial Position | 3 | | Consolidated Interim Statements of Comprehensive Income | 4 | | Consolidated Interim Statements of Changes in Equity | 7 | | Consolidated Interim Statement ...

For SHB, retail lending decreased 2.5% YTD due to weaker demand on unsecured loans reflecting higher interest rates and tight DSR regulations, as well as asset securitization of mortgages Backed by strong loan demand from large corporates and quality SMEs, corporate lending grew by 5.5% YTD, driving SHB's loan growth 8 Non-interest Income Details of Non-interest Income Due to increased market volatility such as rising interest rates and KRW depreciation, securities-related income decreased by 36.6% QoQ. On ...

Shinhan Financial Group Co., Ltd. (NYSE:SHG) Q3 2023 Earnings Call Transcript October 27, 2023 1:00 AM ET Company Participants Kim Myoung Hee - Chief Development Officer Bang Dong-Kwon - Chief Risk Officer Park Kyoung Won - Shinhan Life, CFO Kim Kihoon - Shinhan Bank, CFO Conference Call Participants Seol Yong Jin - SK Securities Park Hye-jin - Daishin Securities Jeong Tae Joon - Yuanta Securities Cho Jihyun - JPMorgan Unidentified Company Representative [Starts Abruptly] [Foreign Language] [interrupted] I ...

Financial Data and Key Metrics Changes - In Q2 2023, despite an increase in operating income, net income declined to KRW1.2383 trillion due to conservative provisioning [6] - Non-interest income recorded KRW1.33 trillion, showing a recovery after an increase in Q1, attributed to balance growth and fee income deposits despite a decline in securities-related income [7] - The Group's cost income ratio for the first half of the year was 38.3%, maintaining stability despite inflationary pressures [7] - The credit cost ratio increased by 22 bps year-over-year to 53 bps due to increased provisions [8] - Interest income stood at KRW2.69 trillion, a 4.7% increase quarter-over-quarter, driven by higher interest-bearing assets and improved bank margins [10] Business Line Data and Key Metrics Changes - Bank loans grew by 0.6% in Q2 after a 0.1% increase in Q1, with corporate lending up 2.8% year-to-date, while retail lending decreased by 1.8% year-to-date [11] - Non-interest income improved by 21.5% year-over-year, with a 3.4% increase quarter-over-quarter, despite a drop in securities-related income [13] - Fee income increased by 7.6% quarter-over-quarter, with credit card fees rising by 26.9% and brokerage fees by 17.9% [14] Market Data and Key Metrics Changes - The delinquency rate for Shinhan Bank remained flat quarter-over-quarter at 0.27%, while Shinhan Card's delinquency rate increased to 1.43% [18][19] - The Group's provisioning rate against total loans and total assets is 0.96% and 0.55% respectively, indicating a steady upward trend in loss absorption capacity [23] Company Strategy and Development Direction - The Group aims to implement a sustainable capital policy by securing sufficient capital capacity and has raised its CET 1 ratio target to 13% [26] - The Group is focusing on leveraging digital capabilities to enhance financial competitiveness and social value, with significant growth in digital platform users [27][34] - The strategy includes expanding into advanced and emerging markets, particularly in Vietnam, while maintaining a conservative approach to risk management [52] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the economic environment, indicating that credit costs may stabilize in the second half of the year [61] - The Group is preparing for potential economic uncertainties by maintaining conservative provisioning policies [61] - The outlook for NIM in the second half is expected to remain stable or slightly higher than Q2, with intense competition anticipated in the loan market [63] Other Important Information - The Group plans to execute an additional round of share buyback and cancellation amounting to KRW100 billion in Q3 [8] - The Group's digital initiatives have led to significant cost savings and increased operating profits from new digital businesses [38] Q&A Session Summary Question: OCI trajectory and securities book losses - Management acknowledged the volatility in the securities book due to interest rates and indicated that valuation losses should reduce in the second half [42][45] Question: CET 1 ratio and buyback plans - The Group confirmed that the CET 1 ratio target was raised to 13% and that buyback plans would be reviewed quarterly [47] Question: Credit card delinquency trends - Management noted that the delinquency rate has stabilized and is expected to return to manageable levels by year-end [44] Question: Global expansion strategy - The Group is exploring opportunities in both advanced and emerging markets, with a focus on supporting Korean companies abroad [52] Question: Household debt to GDP levels - Management indicated that high-quality portfolios would be maintained while cautiously managing household loan growth [56]

1H23 Banks 60% Non-Banks 40% Capital 49,460 46,982 2,478.4 5.3% 48,928 532.1 1.1% CET1 40,244 37,288 2,956.7 7.9% 38,769 1,475.0 3.8% Tier 1 45,923 43,267 2,656.0 6.1% 45,340 583.8 1.3% BIS ratio 15.92% 16.11% -0.19%p 16.00% -0.08%p CET 1 ratio 12.95% 12.79% 0.16%p 12.68% 0.27%p Tier 1 ratio 14.78% 14.84% -0.06%p 14.83% -0.05%p 13.9% 11.1% 12.3% 14.9% 12.5% 13.4% 15.7% 12.9% 14.4% 16.2% 13.1% 14.9% RWA Movement (%) 12.68 Mar. 23 Decrease Increase Total 0.21 RWA RWA 4.9Wtn 0.46 Profit for Net Income 1.2Wtn C ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR Table of Contents As filed with the Securities and Exchange Commission on April 20, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...

Financial Reporting - Shinhan Financial Group submitted its report under Form 20-F for the month of April 2023[2] - The filing is in compliance with the Securities Exchange Act of 1934[8] Shareholder Information - The report includes a change in the number of shares owned by the largest shareholder of Shinhan Financial Group[6]

Shinhan Financial Group Co., Ltd. (NYSE:SHG) Q4 2022 Earnings Conference Call February 8, 2023 12:00 AM ET Company Participants Park Cheol Woo - Head, Investor Relations Lee Taekyung - Chief Financial Officer Kim Myoung Hee - Chief Development Officer Bang Dong Kwon - Chief Risk Officer Ko Seok-Hon - CSSO Kim Kihoon - Shinhan Bank, CFO Kim Nam-Jun - Shinhan Card, CFO Park Kyoung Won - Shinhan Life, CFO Conference Call Participants Yafei Tian - Citi Securities Baek Doosan - Korea Investment Park Hye-jin - Da ...

NYSE We believe finance should be Friendly, More Secure, Creative Business Results FY 2022 Shinhan Financial Group Contents I. FY22 Result Highlights II. Supplements The financial information contained herein has neither been reviewed nor audited by independent auditors. Therefore, no assurance is given that the financial information contained herein is accurate or complete, and such financial information may differ from the financial information to be contained in our financial statements audited by indepe ...