SHG Shinhan Financial Group Co Ltd

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16

Under the Securities Exchange Act of 1934

For the Month of February 2024

SHINHAN FINANCIAL GROUP CO., LTD.

(Translation of registrant's name into English)

20, Sejong-daero 9-gil, Jung-gu, Seoul 04513, Korea
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will

file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F √ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in

paper as permitted by Regulation S-T Rule 101(b)(1): _______

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): _______

Indicate by check mark whether the registrant by furnishing the

information contained in this form is also thereby furnishing the

information to the Commission pursuant to Rule 12g3-2(b) under the

Securities Exchange Act of 1934.

Yes No___√___

If "Yes" is marked, indicate below the file number assigned to the

registrant in connection with Rule 12g3-2(b): 82- n/a .

 

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Please refer to Exhibit 99.1, 99.2 and 99.3.

 

 

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SIGNATURES

 

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.

				Shinhan Financial Group Co., Ltd.
				(Registrant)
Date: February 8, 2024				By:		/s/ CHUN Sang-yung
				Name: CHUN Sang-yung
				Title: Chief Financial Officer

 

 

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Exhibit 99.1
Shinhan Financial Group FY 2023 Operating Results

 

On February 8, 2024, Shinhan Financial Group released its operating results for the fiscal year 2023. The following tables reflect the key figures we announced through a fair disclosure. The full IR presentation materials are available at our website (www.shinhangroup.com).

 

The financial information in this report has been prepared in accordance with Korean International Financial Reporting Standards and is to be audited by our independent auditor. As figures provided have not yet been fully audited by our independent auditor, contents are subject to change in the due course of the auditing process.

 

1. Operating Results of Shinhan Financial Group (consolidated)

					(KRW million)
Item		4Q 2023	3Q 2023	QoQ Change (%)	4Q 2022	YoY Change (%)
Revenue*	Specified Quarter	12,123,940	16,643,190	-27.15	3,224,333	276.01
	Cumulative	61,332,629	49,208,689	-	58,815,309	4.28
Operating Income	Specified Quarter	904,484	1,704,133	-46.92	580,139	55.91
	Cumulative	6,100,850	5,196,366	-	5,905,564	3.31
Income before Income Taxes	Specified Quarter	789,399	1,590,382	-50.36	470,110	67.92
	Cumulative	5,964,960	5,175,561	-	6,366,626	-6.31
Net Income	Specified Quarter	576,052	1,218,825	-52.74	385,790	49.32
	Cumulative	4,478,000	3,901,948	-	4,755,514	-5.84
Net Income Attributable to Controlling Interest	Specified Quarter	549,747	1,192,065	-53.88	358,870	53.19
	Cumulative	4,368,035	3,818,288	-	4,665,643	-6.38

* Represents the sum of interest revenues, fees and commissions revenues, and other operating revenues

* The financial figures for periods starting January 1, 2023 have been stated in accordance with K-IFRS No.1117, ‘Insurance Contracts’. The figures for same term of last year have been restated for the purpose of improved comparability.

 

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2. Operating Results of Shinhan Bank (consolidated)

					(KRW million)
Item		4Q 2023	3Q 2023	QoQ Change (%)	4Q 2022	YoY Change (%)
Revenue*	Specified Quarter	6,484,017	10,846,469	-40.22	216,302	2,897.67
	Cumulative	37,459,679	30,975,662	-	35,514,461	5.48
Operating Income	Specified Quarter	692,877	1,165,144	-40.53	652,829	6.13
	Cumulative	4,147,197	3,454,320	-	4,162,750	-0.37
Income before Income Taxes	Specified Quarter	629,843	1,152,740	-45.36	595,832	5.71
	Cumulative	4,041,105	3,411,262	-	4,107,626	-1.62
Net Income	Specified Quarter	468,716	918,578	-48.97	452,690	3.54
	Cumulative	3,067,991	2,599,275	-	3,045,732	0.73
Net Income Attributable to Controlling Interest	Specified Quarter	468,591	918,543	-48.99	452,530	3.55
	Cumulative	3,067,681	2,599,090	-	3,045,013	0.74

* Represents the sum of interest revenues, fees and commissions revenues, and other operating revenues

 

 

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3. Operating Results of Shinhan Card (consolidated)

				(KRW million)
Item		4Q 2023	3Q 2023	QoQ Change (%)	4Q 2022	YoY Change (%)
Revenue*	Specified Quarter	1,270,099	1,442,586	-11.96	755,435	68.13
	Cumulative	5,378,610	4,108,511	-	4,761,181	12.97
Operating Income	Specified Quarter	200,639	197,280	1.70	76,696	161.60
	Cumulative	802,827	602,188	-	765,041	4.94
Income before Income Taxes	Specified Quarter	201,148	199,042	1.06	75,438	166.64
	Cumulative	803,200	602,052	-	836,731	-4.01
Net Income	Specified Quarter	151,804	152,500	-0.46	55,233	174.84
	Cumulative	621,908	470,104	-	644,555	-3.51
Net Income Attributable to Controlling Interest	Specified Quarter	151,470	152,196	-0.48	53,707	182.03
	Cumulative	620,582	469,112	-	641,368	-3.24

* Represents the sum of interest revenues, fees and commissions revenues, and other operating revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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4. Operating Results of Shinhan Life (consolidated)

				(KRW million)
Item		4Q 2023	3Q 2023	QoQ Change (%)	4Q 2022	YoY Change (%)
Revenue*	Specified Quarter	1,585,040	1,479,438	7.14	844,885	87.60
	Cumulative	6,451,715	4,866,675	-	6,377,305	1.17
Operating Income	Specified Quarter	69,008	167,486	-58.80	47,814	44.33
	Cumulative	659,057	590,049	-	550,580	19.70
Income before Income Taxes	Specified Quarter	59,721	162,626	-63.28	36,405	64.05
	Cumulative	639,553	579,832	-	532,906	20.01
Net Income	Specified Quarter	44,771	115,942	-61.39	79,000	-43.33
	Cumulative	472,395	427,624	-	449,392	5.12
Net Income Attributable to Controlling Interest	Specified Quarter	44,771	115,942	-61.39	79,000	-43.33
	Cumulative	472,395	427,624	-	449,392	5.12

* 'Sales Amount' represents the sum of insurance revenues and investment revenues and other operating revenues.

* The financial figures for periods starting January 1, 2023 have been stated in accordance with K-IFRS No.1117, ‘Insurance Contracts’. The figures for same term of last year have been restated for the purpose of improved comparability.

 

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Exhibit 99.2
Shinhan Bank, Shinhan Card and Shinhan Life resolved to pay cash dividends to Shinhan Financial Group

 

On February 7, 2024, the Board of Directors of Shinhan Bank, a wholly-owned bank subsidiary of Shinhan Financial Group (hereafter “SFG”), resolved to pay cash dividends of KRW 1,196,395,741,854 or KRW 754.53 per common share for the fiscal year of 2023, subject to the shareholders’ approval.

 

On February 7, 2024, the Board of Directors of Shinhan Card, a wholly-owned card subsidiary of SFG, resolved to pay cash dividends of KRW 310,414,641,828 or KRW 2,476 per common share for the fiscal year of 2023, subject to the shareholders’ approval.

 

On February 7, 2024, the Board of Directors of Shinhan Life, a wholly-owned card subsidiary of SFG, resolved to pay cash dividends of KRW 165,338,203,697 or KRW 1,430 per common share for the fiscal year of 2023, subject to the shareholders’ approval.

 

 

Since SFG wholly owns Shinhan Bank, Shinhan Card and Shinhan Life, SFG will be receiving the total dividend amounts.

 

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Exhibit 99.3

Report of Change in Revenue or Profit of More than 15% (Shinhan Life)

 

On February 8, 2024, Shinhan Financial Group reported changes in the revenue and profit of Shinhan Life as described below.

 

Key Details (consolidated)

 

Details of changes (KRW thousands)	FY2023	FY2022	Change (Amount)	Change (%)
Revenue and Profit
-Sales	6,451,715,000	6,377,305,000	74,410,000	1.17
-Operating income	659,057,000	550,580,000	108,477,000	19.70
-Net income from continuing operation before income tax	639,553,000	532,906,000	106,647,000	20.01
-Net income	472,395,000	449,392,000	23,003,000	5.12
Main causes for changes in sales or profits/losses amount	Financial instrument investment valuation gains and losses due to the fluctuations of the market interest rate
Other Financial Date
-Total assets	58,641,345,000	56,501,131,000
-Total liabilities	50,218,211,000	48,380,592,000
-Total shareholders' equity	8,423,134,000	8,120,539,000
-Capital stock	578,274,000	578,274,000
-Total shareholders' equity/capital stock ratio (%)	1,456.6	1,404.3

 

Note: 1) The financial information in this material has been prepared in accordance with Korean International

Financial Reporting Standards.

2) The financial figures for periods starting January 1, 2023 have been stated in accordance with K-IFRS

No.1117, ‘Insurance Contracts’. The figures for same term of last year have been restated for the

purpose of improved comparability.

3) 'Sales Amount' represents the sum of interest revenues, fees and commissions revenues, and other

operating revenues.

4) The above amounts are rounded up to the nearest 100,000 won.

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