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 October 2023
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.
EXHIBIT INDEX
Exhibit No. |
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Description |
99.1 |
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3Q2023 Operating Results of Shinhan Financial Group |
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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.
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Shinhan Financial Group Co., Ltd. |
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(Registrant) |
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Date: October 27, 2023 |
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By: |
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/s/ Lee Tae Kyung |
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Name: Lee Tae Kyung |
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Title: Chief Financial Officer |
Exhibit 99.1
3Q2023 Operating Results of Shinhan Financial Group
On October 27, 2023, Shinhan Financial Group released its operating results for 3Q 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 reviewed by our independent auditor. As figures provided have not yet been fully reviewed by our independent auditor, contents are subject to change in the due course of the reviewing process.
1. Operating Results of Shinhan Financial Group (consolidated)
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(KRW million) |
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Item |
3Q 2023 |
2Q 2023 |
QoQ Change (%) |
3Q 2022 |
YoY Change (%) |
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Revenue* |
Specified Quarter |
16,643,190 |
13,583,594 |
22.52 |
23,692,672 |
-29.75 |
Cumulative |
49,208,689 |
32,565,499 |
- |
55,469,189 |
-11.29 |
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Operating Income |
Specified Quarter |
1,704,133 |
1,736,047 |
-1.84 |
1,723,747 |
-1.14 |
Cumulative |
5,196,366 |
3,492,233 |
- |
5,325,425 |
-2.42 |
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Income before Income Taxes |
Specified Quarter |
1,590,382 |
1,728,416 |
-7.99 |
2,206,872 |
-27.94 |
Cumulative |
5,175,561 |
3,585,179 |
- |
5,896,516 |
-12.23 |
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Net Income |
Specified Quarter |
1,218,825 |
1,268,780 |
-3.94 |
1,647,663 |
-26.03 |
Cumulative |
3,901,948 |
2,683,123 |
- |
4,369,724 |
-10.70 |
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Net Income Attributable to Controlling Interest |
Specified Quarter |
1,192,065 |
1,238,265 |
-3.73 |
1,624,413 |
-26.62 |
Cumulative |
3,818,288 |
2,626,223 |
- |
4,306,773 |
-11.34 |
* 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 periods starting January 1, 2022 have been restated for the purpose of improved comparability.
2. Operating Results of Shinhan Bank (consolidated)
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(KRW million) |
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Item |
3Q 2023 |
2Q 2023 |
QoQ Change (%) |
3Q 2022 |
YoY Change (%) |
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Revenue* |
Specified Quarter |
10,846,469 |
8,297,354 |
30.72 |
16,293,294 |
-33.43 |
Cumulative |
30,975,662 |
20,129,193 |
- |
35,298,159 |
-12.25 |
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Operating Income |
Specified Quarter |
1,165,144 |
1,061,475 |
9.77 |
1,235,953 |
-5.73 |
Cumulative |
3,454,320 |
2,289,176 |
- |
3,509,921 |
-1.58 |
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Income before Income Taxes |
Specified Quarter |
1,152,740 |
1,018,691 |
13.16 |
1,235,404 |
-6.69 |
Cumulative |
3,411,262 |
2,258,522 |
- |
3,511,794 |
-2.86 |
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Net Income |
Specified Quarter |
918,578 |
749,064 |
22.63 |
909,610 |
0.99 |
Cumulative |
2,599,275 |
1,680,697 |
- |
2,593,042 |
0.24 |
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Net Income Attributable to Controlling Interest |
Specified Quarter |
918,543 |
749,000 |
22.64 |
909,438 |
1.00 |
Cumulative |
2,599,090 |
1,680,548 |
- |
2,592,483 |
0.25 |
* Represents the sum of interest revenues, fees and commissions revenues, and other operating revenues
3. Operating Results of Shinhan Card (consolidated)
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(KRW million) |
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Item |
3Q 2023 |
2Q 2023 |
QoQ Change (%) |
3Q 2022 |
YoY Change (%) |
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Revenue* |
Specified Quarter |
1,442,586 |
1,305,006 |
10.54 |
1,532,493 |
-5.87 |
Cumulative |
4,108,511 |
2,665,925 |
- |
4,005,746 |
2.57 |
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Operating Income |
Specified Quarter |
197,280 |
201,675 |
-2.18 |
196,446 |
0.42 |
Cumulative |
602,188 |
404,908 |
- |
688,345 |
-12.52 |
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Income before Income Taxes |
Specified Quarter |
199,042 |
199,057 |
-0.01 |
206,145 |
-3.45 |
Cumulative |
602,052 |
403,010 |
- |
761,293 |
-20.92 |
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Net Income |
Specified Quarter |
152,500 |
150,388 |
1.40 |
175,795 |
-13.25 |
Cumulative |
470,104 |
317,604 |
- |
589,322 |
-20.23 |
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Net Income Attributable to Controlling Interest |
Specified Quarter |
152,196 |
150,206 |
1.32 |
174,955 |
-13.01 |
Cumulative |
469,112 |
316,916 |
- |
587,661 |
-20.17 |
* Represents the sum of interest revenues, fees and commissions revenues, and other operating revenues
4. Operating Results of Shinhan Life (consolidated)
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(KRW million) |
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Item |
3Q 2023 |
2Q 2023 |
QoQ Change (%) |
3Q 2022 |
YoY Change (%) |
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Revenue* |
Specified Quarter |
1,479,438 |
1,522,492 |
-2.83 |
1,962,045 |
-24.60 |
Cumulative |
4,866,675 |
3,387,237 |
- |
5,532,420 |
-12.03 |
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Operating Income |
Specified Quarter |
167,486 |
235,722 |
-28.95 |
172,245 |
-2.76 |
Cumulative |
590,049 |
422,563 |
- |
502,766 |
17.36 |
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Income before Income Taxes |
Specified Quarter |
162,626 |
242,849 |
-33.03 |
177,343 |
-8.30 |
Cumulative |
579,832 |
417,206 |
- |
496,501 |
16.78 |
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Net Income |
Specified Quarter |
115,942 |
177,870 |
-34.82 |
134,338 |
-13.69 |
Cumulative |
427,624 |
311,682 |
- |
370,392 |
15.45 |
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Net Income Attributable to Controlling Interest |
Specified Quarter |
115,942 |
177,870 |
-34.82 |
134,338 |
-13.69 |
Cumulative |
427,624 |
311,682 |
- |
370,392 |
15.45 |
* Represents the sum of insurance revenues, 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 periods starting January 1, 2022 have been restated for the purpose of improved comparability.
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