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 .
Please refer to Exhibit 99.1, 99.2 and 99.3.
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 |
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.
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
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
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.
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.
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.
Shinhan Financial (NYSE:SHG)
Historical Stock Chart
From Jul 2024 to Aug 2024
Shinhan Financial (NYSE:SHG)
Historical Stock Chart
From Aug 2023 to Aug 2024