FORM 6-K 20, Sejong-daero 9-gil, Jung-gu, Seoul 04513, Korea (Address of principal executive offices) Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _______ Please refer to Exhibit 99.1. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15 ...

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 ...

Financial Performance and Risk Management - The delinquency ratio for Shinhan Bank was 0.24% as of December 31, 2020, 0.19% as of December 31, 2021, and 0.21% as of December 31, 2022[40]. - Shinhan Bank's net interest margin increased to 1.85% in 2022 from 1.62% in 2021 due to increases in the base interest rate by the Bank of Korea[46]. - The Bank of Korea raised the base interest rate from 1.00% to 3.50% between January 2022 and January 2023, with potential further increases in 2023[48]. - The Korean economy faces significant risks including sluggish domestic consumption, rising household debt, and potential declines in productivity due to aging demographics[39]. - The company has significant exposure to small- and medium-sized enterprises, which may lead to deterioration in asset quality if these enterprises face financial difficulties[33]. - The company may incur losses from counterparty exposures and market fluctuations affecting its investments and trading activities[33]. - Risks associated with COVID-19 include increased defaults on loan payments and potential impairments in the fair value of investments[65]. - The company is continuously assessing the impact of COVID-19 on its asset portfolio, indicating potential future special provisions for credit losses[64]. - The company faces significant market risks, including interest rate, foreign exchange, and bond and equity price risks, which could adversely affect financial condition[79]. - The company has implemented risk management systems to mitigate market risks, but predicting economic changes remains challenging[79]. - The company has maintained capital adequacy ratios in excess of the required regulatory minimum levels, but future compliance is uncertain due to potential increases in risky assets and provisioning expenses[67]. - The company faces increasing pricing competition for deposit products, which may impact funding costs and operational results[75]. Competition and Market Dynamics - Competition in the Korean financial services industry is intense, with Shinhan Bank focusing on stable asset growth based on quality credit[44]. - Shinhan Card faces intense competition from monoline credit card companies, banks, and fintech firms, with significant investments in marketing to acquire high-quality customers[49]. - The financial services sector in Korea is experiencing consolidation, with significant mergers and acquisitions, potentially increasing competition for Shinhan Card[52]. - The introduction of the MyData service allows for increased competition between traditional financial institutions and fintech firms, particularly in asset management services[59]. - Regulatory reforms, including Basel III capital requirements, have imposed stricter guidelines on financial institutions, affecting competition dynamics[60]. - The launch of open banking services in October 2019 has enabled customers to access multiple banking services, increasing competition among banks and fintech companies[57]. - The Financial Services Commission is expected to launch a government-led platform for comparing loan products in May 2023, intensifying competition in the lending market[59]. - Shinhan Card's revenue growth is challenged by the maturing credit card industry and increased competition from non-financial companies like Kakao Pay and Naver Pay[109]. Regulatory Environment and Compliance - The minimum common equity Tier I capital adequacy ratio required is 4.5%, with a Tier I capital adequacy ratio of 6.0% and a total capital (BIS) ratio of 8.0%[66]. - The liquidity coverage ratio was temporarily lowered from 100% to 85% in April 2020 due to COVID-19, with a gradual restoration plan to reach 100% by the third quarter of 2023[74]. - The Financial Services Commission may impose penalties if capital adequacy ratios fall below required levels, which could include suspension or revocation of business licenses[71]. - The Basel III standards require a minimum liquidity coverage ratio of 100%, which was fully implemented as of January 1, 2019[74]. - The company is subject to the Financial Consumer Protection Act, which strengthens consumer rights and imposes stricter compliance requirements on financial product distributors[151]. - The company faces potential litigation and regulatory scrutiny due to the evolving nature of cyber security threats and financial scams[144]. Strategic Initiatives and Acquisitions - Shinhan Financial Group has made strategic acquisitions, including a 100% stake in Orange Life Insurance and a 96.8% stake in Neoplux Co., Ltd.[53]. - The integration of acquired companies, such as Orange Life Insurance and Neoplux, is expected to generate synergies but poses risks related to successful integration and increased expenses[119]. - The company has made significant investments, including a W660 billion capital contribution to Shinhan Securities to strengthen its non-banking businesses[115]. - The company has established a new mid-term strategy called 'F.R.E.S.H. 2020s', focusing on solid fundamentals, resilience, integrated digital ecosystems, sustainability, and talent management[210]. Cybersecurity and Fraud Prevention - The company has implemented an ISO 27001-certified security management system across all subsidiaries, enhancing compliance with international information security standards[141]. - The company has set aside W10 billion for cyber security breach insurance related to its banking business, W3 billion in total for other operations, and W1 billion per incident for its securities investment business[141]. - The company has established a new information security lab to develop technical capabilities for responding to the latest cyber threats[141]. - The company has experienced a rise in voice phishing scams, necessitating the establishment of fraud detection systems to identify questionable transactions[145][146]. - The company has made substantial investments in cyber security measures, including employee training and advanced security infrastructure[141]. Economic and Geopolitical Risks - The Korean economy is highly dependent on global economic conditions, with potential adverse effects from geopolitical risks and trade tensions[180]. - Tensions with North Korea could adversely affect the bank's business and share prices due to potential military and political instability in the region[184]. - Shinhan Bank engages in limited lending activities related to Russia, which may expose the bank to legal and reputational risks due to ongoing sanctions[179]. - The bank has ceased processing Euro-denominated transactions with Iranian businesses since August 2017, following changes in U.S. sanctions[178]. Customer Base and Market Position - The company is the second largest financial services provider in Korea, with consolidated total assets as of December 31, 2022[205]. - The company operates the second largest banking business and the largest credit card business in Korea, measured by consolidated total bank assets and total credit purchase volume in 2022, respectively[205]. - As of December 31, 2022, the company serves approximately 19 million active customers, the largest customer base in Korea[207]. - Over 80% of the company's revenues have historically been derived from Korea, with a global network of 248 offices in various countries[207].

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 ...