☒ 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 ...

Financial Data and Key Indicators Changes - In Q3 2022, the Group's cumulative net income reached KRW 4,315.4 billion, with Q3 alone contributing KRW 1,594.6 billion, indicating solid results despite external challenges [8][9] - The cost income ratio (CIR) for Q3 was 40.1%, reflecting stable management of SG&A expenses despite increased digital-related costs [10][19] - Interest income for Q3 was KRW 2,716 billion, up 2.7% QoQ, driven by improved bank NIM [12] - The CET1 ratio remained stable at 12.7% as of the end of September [22] Business Line Data and Key Indicators Changes - The Group's non-interest income decreased by 28.8% QoQ, primarily due to declining fee income and market volatility [16] - Corporate loans grew by 2.5% QoQ, while retail loans declined by 1.3% QoQ, reflecting a shift in demand due to regulatory changes and interest rate hikes [15] - Shinhan Card's recurring net income decreased despite growth in credit purchases, attributed to rising funding costs and merchant fee cuts [23] Market Data and Key Indicators Changes - The delinquency rate for the Bank remained stable at 0.20%, while the Card business saw a slight increase to 0.86% [20] - In overseas markets, the Group's exposure to real estate is about KRW 3.5 trillion, with no visible risks currently identified [124] Company Strategy and Development Direction - The Group aims to enhance shareholder value through a gradual improvement of the shareholder return ratio, including a per-share dividend of KRW 400 [11] - A conservative provisioning policy will be maintained to address potential credit risks amid economic uncertainties [20] - The digital strategy focuses on expanding customer engagement through multiple applications, enhancing user experience and financial contributions [38][80] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increasing uncertainties in domestic and foreign financial markets due to tightening monetary policies and economic conditions [28] - The Group is preparing for potential asset quality deterioration due to rising interest rates and is implementing preemptive risk management measures [30][34] - Future NIM growth is anticipated despite current funding rate increases, with expectations of stabilization in Q1 2023 [76] Other Important Information - The Group's digital platform MAU surpassed 21 million, indicating strong user engagement and growth in digital services [38] - The Group is actively involved in ESG efforts, with a focus on reducing carbon emissions and integrating sustainability into its operations [56][59] Q&A Session Summary Question: Concerns about real estate PF status and future strategies - The Group's real estate PF constitutes about 2% of total loans, with a manageable NPL of KRW 20 billion, indicating effective risk management [53][54] Question: Outlook for Card business fee income and asset quality - Card fee income was softer in Q3 due to seasonal factors, but is expected to normalize in Q4, with asset quality remaining stable [64][66] Question: Impact of liquidity risk on funding costs - The Group has sufficient liquidity and is not significantly affected by market liquidity risks, although funding costs are rising [68] Question: Strategies for managing overseas real estate exposure - The Group's overseas real estate exposure is KRW 3.5 trillion, with no current visible risks, and a sophisticated monitoring system is in place [124] Question: Dividend expectations and shareholder return ratio - The Group plans to maintain a solid increase in cash dividends, supported by a high CET1 ratio and effective stress testing [99][100]

NYSE We believe finance should be Friendly, fore Secure, Creative Business Results 3Q 2022 Shinhan Financial Group Contents I. 3Q22 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 ...

Exhibit 99.2 Independent Auditors' Review Report (Consolidated Financial Statements) of Shinhan Financial Group as of June 30, 2022 SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES Consolidated Interim Financial Statements June 30, 2022 and 2021 (Unaudited) Contents | | Page | | --- | --- | | 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 o ...

Financial Performance Highlights - Group net income reached KRW 27208 billion, an increase of 113% year-over-year[7, 8] - Interest income increased by 173% year-over-year, driven by asset growth and margin improvement[12, 14] - Non-interest income decreased by 77% year-over-year, primarily due to declines in securities and insurance-related income[12, 25] - The cost-to-income ratio improved to 390%, a decrease of 24%p year-over-year[7, 8] - Provision for credit losses increased by 676% year-over-year, with additional provisioning of KRW 2990 billion for uncertainties[12, 27] Business Segment Performance - Shinhan Bank's net income increased by 228% year-over-year to KRW 16830 billion, driven by higher interest income and cost control[37, 62] - Shinhan Card's net income increased by 124% year-over-year to KRW 4127 billion, supported by business diversification[37, 68] - Shinhan Life Insurance's net income decreased by 102% year-over-year to KRW 2775 billion, mainly due to increased guarantee reserves[37, 72] - Shinhan Investment Corp's net income decreased by 414% year-over-year to KRW 1891 billion, due to decreased brokerage fees and valuation losses[37, 76] - Overseas net income contribution increased by 443% to KRW 2832 billion[39] Capital Management and Asset Quality - The CET1 ratio is expected to be 128%[7, 8, 35] - Group assets increased by 92% year-over-year to KRW 6833 trillion[58, 81] - The group's NPL ratio decreased by 008%p year-over-year to 038%[8, 34, 58] Digital Transformation and ESG Initiatives - SFG Gross MAU increased by 481 million YoY[52] - The company aims to provide KRW 30 trillion in green financing by 2030[54]

SHE LISTED NYSE We believe finance should be Friendly, More Secure, Creative Business Results 1Q 2022 Shinhan Financial Group Contents I. 1Q22 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 audite ...

[Report of Foreign Private Issuer (Form 6-K)](index=1&type=section&id=Report%20of%20Foreign%20Private%20Issuer%20%28Form%206-K%29) This report outlines the filing of Form 6-K by Shinhan Financial Group, covering its purpose and authorization [Filing Information](index=1&type=section&id=Filing%20Information) Shinhan Financial Group filed a Form 6-K report with the SEC for April 2022, noting its annual Form 20-F filings - Registrant: **Shinhan Financial Group Co., Ltd**[1](index=1&type=chunk) - Form Type: **Form 6-K, Report of Foreign Private Issuer**[1](index=1&type=chunk) - Filing Period: For the Month of **April 2022**[1](index=1&type=chunk) - The registrant files annual reports under **Form 20-F**[2](index=2&type=chunk) [Subject of Report: Acquisition of Treasury Shares](index=2&type=section&id=Subject%20of%20Report%3A%20Acquisition%20of%20Treasury%20Shares) The report primarily details the results of the company's treasury share acquisition, presented in Exhibit 99.1 - The substantive information of the report is provided in **Exhibit 99.1**[4](index=4&type=chunk) - Exhibit 99.1 is titled "**Results on acquisition of treasury shares**"[6](index=6&type=chunk) [Signatures](index=4&type=section&id=Signatures) The report was signed and authorized by Lee Taekyung, CFO of Shinhan Financial Group, on April 20, 2022 - The report was duly signed on behalf of **Shinhan Financial Group Co., Ltd**[8](index=8&type=chunk) - Signatory: **Lee Taekyung, Chief Financial Officer**[9](index=9&type=chunk) - Date of Signature: **April 20, 2022**[9](index=9&type=chunk)