UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

——————————

 

FORM 6-K

 

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REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the Month of July 2024

 

Commission File Number: 001-31798

 

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SHINHAN FINANCIAL GROUP CO., LTD.

(Translation of registrant's name into English)

 

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

 

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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

 

 

2Q2024 Operating Results of Shinhan Financial Group

 

On July 26, 2024, Shinhan Financial Group released its operating results for 2Q 2024. 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)

 

 

 

 

(KRW million)

Item

2Q 2024

1Q 2024

QoQ Change (%)

2Q 2023

YoY Change (%)

Revenue*

Specified Quarter

17,971,913

20,122,213

-10.69

13,583,594

32.31

Cumulative

38,094,126

20,122,213

-

32,565,499

16.98

Operating Income

Specified Quarter

1,852,543

2,068,236

-10.43

1,736,047

6.71

Cumulative

3,920,779

2,068,236

-

3,492,233

12.27

Income before Income Taxes

Specified Quarter

1,871,439

1,790,505

4.52

1,728,416

8.27

Cumulative

3,661,944

1,790,505

-

3,585,179

2.14

Net Income

Specified Quarter

1,450,986

1,347,829

7.65

1,268,780

14.36

Cumulative

2,798,815

1,347,829

-

2,683,123

4.31

Net Income Attributable to Controlling Interest

Specified Quarter

1,425,479

1,321,532

7.87

1,238,265

15.12

Cumulative

2,747,011

1,321,532

-

2,626,223

4.60

* 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’.

 

 

2. Operating Results of Shinhan Bank (consolidated)

 

 

 

 

(KRW million)

Item

2Q 2024

1Q 2024

QoQ Change (%)

2Q 2023

YoY Change (%)

Revenue*

Specified Quarter

11,189,259

12,659,857

-11.62

8,297,354

34.85

Cumulative

23,849,116

12,659,857

-

20,129,193

18.48

Operating Income

Specified Quarter

1,351,723

1,496,859

-9.70

1,061,475

27.34

Cumulative

2,848,582

1,496,859

-

2,289,176

24.44

Income before Income Taxes

Specified Quarter

1,415,558

1,220,698

15.96

1,018,691

38.96

Cumulative

2,636,256

1,220,698

-

2,258,522

16.72

Net Income

Specified Quarter

1,124,946

928,849

21.11

749,064

50.18

Cumulative

2,053,795

928,849

-

1,680,697

22.20

Net Income Attributable to Controlling Interest

Specified Quarter

1,124,845

928,615

21.13

749,000

50.18

Cumulative

2,053,460

928,615

-

1,680,548

22.19

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

 

 

3. Operating Results of Shinhan Card (consolidated)

 

 

 

(KRW million)

Item

2Q 2024

1Q 2024

QoQ Change (%)

2Q 2023

YoY Change (%)

Revenue*

Specified Quarter

1,547,150

1,521,890

1.66

1,305,006

18.56

Cumulative

3,069,040

1,521,890

-

2,665,925

15.12

Operating Income

Specified Quarter

247,444

237,048

4.39

201,675

22.69

Cumulative

484,492

237,048

-

404,908

19.65

Income before Income Taxes

Specified Quarter

249,211

240,086

3.80

199,057

25.20

Cumulative

489,297

240,086

-

403,010

21.41

Net Income

Specified Quarter

195,149

185,647

5.12

150,388

29.76

Cumulative

380,796

185,647

-

317,604

19.90

Net Income Attributable to Controlling Interest

Specified Quarter

194,278

185,055

4.98

150,206

29.34

Cumulative

379,333

185,055

-

316,916

19.70

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

 

 

4. Operating Results of Shinhan Life (consolidated)

 

 

 

(KRW million)

Item

2Q 2024

1Q 2024

QoQ Change (%)

2Q 2023

YoY Change (%)

Revenue*

Specified Quarter

1,707,232

1,882,486

-9.31

1,522,492

12.13

Cumulative

3,589,718

1,882,486

-

3,387,237

5.98

Operating Income

Specified Quarter

218,114

217,141

0.45

235,722

-7.47

Cumulative

435,255

217,141

-

422,563

3.00

Income before Income Taxes

Specified Quarter

217,212

213,517

1.73

242,849

-10.56

Cumulative

430,729

213,517

-

417,206

3.24

Net Income

Specified Quarter

158,715

154,192

2.93

177,870

-10.77

Cumulative

312,907

154,192

-

311,682

0.39

Net Income Attributable to Controlling Interest

Specified Quarter

158,715

154,192

2.93

177,870

-10.77

Cumulative

312,907

154,192

-

311,682

0.39

* Represents operation revenues on financial statement

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

No.1117, ‘Insurance Contracts’.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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: July 26, 2024

 

By:

/s/ CHUN Sang-yung

 

 

 

 

 

 

Name: CHUN Sang-yung

 

 

Title: Chief Financial Officer

 

 

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