Shinhan Financial Group Co., Ltd.
- Open
- 69.40
- Day high
- 69.85
- Day low
- 68.89
- Prev close
- 70.76
- Volume
- 173K
- Mkt cap
- $32.5B
- P/E (TTM)
- 10.0
- EPS (TTM)
- $6.93
- P/B
- 0.8
- P/S
- 1.4
- Yield
- —
- Per share
- —
Shinhan Financial Group Co., Ltd. (SHG) is a Financial Services company listed on NYSE. The stock is up 40% over the past year.
Shinhan Financial Group Co., Ltd. (SHG) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SHG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $2.27 | $2.21 | -2.6% | $2.8B | +0.0% |
| Mar 3, 2026 | $0.82 | $0.68 | -17.4% | $6.6B | +176.7% |
| Nov 14, 2025 | $1.96 | $2.05 | +4.6% | $2.8B | +0.7% |
| Jul 25, 2025 | $2.23 | $4.27 | +91.5% | $6.5B | +137.4% |
| May 15, 2025 | $1.94 | $2.01 | +3.6% | $5.9B | +120.5% |
| Oct 25, 2024 | $1.74 | $1.76 | +1.1% | $6.5B | +132.9% |
| Jul 26, 2024 | $1.78 | $1.97 | +10.7% | $6.4B | +133.8% |
| May 16, 2024 | $1.54 | $1.89 | +22.7% | $6.3B | +135.7% |
| Oct 27, 2023 | $1.83 | $1.68 | -8.2% | $2.7B | -1.7% |
| Aug 14, 2023 | $1.23 | $1.75 | +42.3% | $3.6B | +28.5% |
| Apr 27, 2023 | $1.75 | $2.00 | +14.3% | $3.9B | +44.0% |
| Mar 6, 2023 | — | $0.41 | — | $3.7B | — |
Shinhan Financial Group Co., Ltd. company profile
Overview
Shinhan Financial Group Co., Ltd. (KRX:055550) is South Korea's leading financial services conglomerate, founded in 1982 and headquartered in Seoul. The company has evolved from a regional bank into a comprehensive financial holding company through strategic mergers and acquisitions over the past four decades. Today, Shinhan operates as one of Korea's "Big Four" financial groups alongside KB Financial, Hana Financial, and Woori Financial, serving millions of customers across retail and corporate segments both domestically and internationally through its extensive network of subsidiaries and service centers.
Business
Shinhan Financial Group operates as a diversified financial services holding company through six primary business segments. Banking represents the core business, generating approximately 60-65% of total revenue through Shinhan Bank, which provides traditional retail banking services including deposit-taking, mortgage lending, personal loans, and corporate banking services such as trade finance, project financing, and treasury operations. The banking segment also encompasses international operations across Asia, Europe, and the Americas. The Credit Card segment, contributing roughly 15-20% of revenue, operates through Shinhan Card, one of Korea's largest credit card issuers. This business generates income through interchange fees, annual fees, and interest charges on outstanding balances. Securities operations, accounting for approximately 10-15% of revenue, provide investment banking, brokerage services, asset management, and proprietary trading through Shinhan Investment Corp. Life Insurance contributes around 8-12% of revenue through Shinhan Life Insurance, offering traditional life insurance products, annuities, and investment-linked insurance policies. The Credit segment includes specialized lending operations, savings banking, and consumer finance services. The Others category encompasses various financial services including trust management, private equity, leasing, and emerging digital financial services, collectively representing the remaining revenue share. The company operates through an extensive physical and digital infrastructure, including 784 service centers, over 5,200 ATMs, and comprehensive digital banking platforms that serve more than 24 million monthly active users across its various financial and non-financial digital services.
Revenue model
Shinhan Financial Group generates revenue through multiple complementary streams across its diversified financial services portfolio. The primary revenue driver is net interest income, which accounts for approximately 65-70% of total revenue. This comes from the spread between interest earned on loans and deposits, with the banking segment lending to both retail customers (mortgages, personal loans, credit cards) and corporate clients (working capital, project finance, trade finance). The group benefits from Korea's robust domestic economy and its position as a leading lender to Korean corporations expanding globally. Fee-based income represents 25-30% of revenue, generated through credit card interchange fees, securities brokerage commissions, asset management fees, insurance premiums, and various banking service charges. The credit card business is particularly profitable, earning fees from merchants and annual fees from cardholders, while also generating interest income from revolving balances. Trading and investment income provides additional revenue through proprietary trading, foreign exchange operations, and investment gains, though this segment can be volatile as evidenced by recent derivative trading losses at Shinhan Securities. Several factors influence the group's profitability margins. Interest rate cycles significantly impact net interest margins - rising rates generally benefit the group's asset-sensitive balance sheet, while falling rates compress margins. Economic growth in Korea and key international markets affects loan demand and credit quality. Regulatory changes, including capital requirements and consumer protection measures, can impact both revenue generation and operational costs. Competition from other major Korean financial groups, fintech companies, and digital banks pressures both pricing and market share. Credit cycle dynamics affect provisioning costs, with real estate project finance exposure representing a key risk factor requiring ongoing monitoring and potential provisions.
Competitive moat
Shinhan Financial Group possesses a moderate to strong competitive moat built primarily on regulatory barriers, scale advantages, and customer relationships, though this moat faces increasing pressure from digital disruption. As one of Korea's systemically important financial institutions, Shinhan benefits from significant regulatory barriers to entry that protect the domestic banking oligopoly. The company's extensive branch network, ATM infrastructure, and decades-long customer relationships create switching costs and provide distribution advantages that are difficult for new entrants to replicate. The group's scale enables cost advantages in funding, technology investments, and regulatory compliance that smaller competitors cannot match. Shinhan's diversified business model across banking, insurance, securities, and credit cards provides revenue stability and cross-selling opportunities that pure-play competitors lack. The company's strong market position in Korea's concentrated financial services industry, combined with its growing international presence supporting Korean corporate expansion, creates network effects and relationship depth. However, this moat faces meaningful challenges. Digital disruption from fintech companies, mobile payment platforms, and digital banks is eroding traditional banking advantages, particularly among younger customers. Regulatory pressure for increased competition and consumer protection is intensifying. Low interest rate environments compress traditional banking margins, while economic maturity in Korea limits organic growth opportunities. The company's exposure to cyclical sectors like real estate development and its concentration in the Korean market create vulnerability to domestic economic downturns. While Shinhan maintains competitive advantages, the sustainability of its moat depends on successful digital transformation and international diversification efforts.
Risks & safety
Shinhan Financial Group demonstrates a moderate margin of safety with solid capitalization but exposure to cyclical risks and regulatory pressures. • Capital Position: CET1 ratio of 13.13% well above regulatory minimums, providing adequate buffer for economic stress • Liquidity: Strong cash position of KRW 23.7 trillion in cash and short-term investments against current liabilities of KRW 16.6 trillion • Debt Management: Debt-to-equity ratio of 2.34x is typical for financial institutions but indicates high leverage • Profitability: ROE of 7.9% in 2024, though declining from previous years due to challenging operating environment • Valuation Metrics: Trading at 0.50x price-to-book ratio and 5.8x P/E ratio, suggesting potential undervaluation • Credit Quality: Credit cost ratio of 38 basis points with KRW 9.4 trillion exposure to real estate project finance (2.2% of loan book) requiring monitoring • Dividend Coverage: Maintaining dividend payments with target 30-50% total shareholder return, though dependent on earnings stability • Regulatory Risk: Subject to Korean financial regulations and potential capital requirement increases
Recent development
Over the past few years, Shinhan Financial Group has undergone significant strategic transformation focused on digital innovation, capital efficiency, and risk management. The company has aggressively expanded its digital ecosystem, growing monthly active users across its financial and non-financial platforms to over 24 million, representing 24% year-over-year growth. This digital transformation has generated substantial cost savings of approximately KRW 200 billion annually through AI and automation technologies. The group has shifted its strategic focus from quantitative to qualitative growth, emphasizing return on equity and capital efficiency over pure asset expansion. This pivot includes targeting a return on capital of approximately 13% while limiting loan and risk-weighted asset growth to around 5% annually. Shinhan has also enhanced its shareholder return policy, committing to a 50% total shareholder return ratio by 2027, including regular share buybacks and dividend increases. Risk management has been significantly strengthened following challenges in real estate project finance and derivative trading losses. The company has conducted comprehensive viability reviews of its KRW 9.4 trillion real estate project finance portfolio and implemented enhanced internal controls following a KRW 135.7 billion derivative trading loss at Shinhan Securities. The group has also adopted more conservative provisioning policies and stress-testing procedures. International expansion continues with a focus on supporting Korean corporate clients in advanced markets while pursuing organic growth opportunities in emerging markets, particularly Vietnam. The company has also been investing in wealth management capabilities and strengthening its capital markets businesses to reduce dependence on traditional net interest income.
SHG company profile · for informational purposes only — not investment advice.
Track SHG with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free