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.

 

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EXHIBIT INDEX

Exhibit No.		Description
99.1		Shinhan Bank’s Board made a resolution to issue a KRW-denominated Write-down Contingent Capital Securities

 

 

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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 29, 2024				By:		/s/ CHUN Sang-yung
				Name: CHUN Sang-yung
				Title: Chief Financial Officer

 

 

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Exhibit99.1
Shinhan Bank’s Board made a resolution to issue a KRW-denominated Write-down Contingent Capital Securities

On February 29, 2024, the board of directors of Shinhan Bank, our wholly-owned bank subsidiary, made a resolution to issue a KRW-denominated Write-down Contingent Capital Securities

 

1. Purpose of issuance: To maintain capital requirements under the Basel III

 

2. Details of issuance:

 

Type of Securities	Write-down Contingent Capital Securities (Basel 3 Compliant Additional Tier1 Capital)
Total Amount of Issuance Limit	KRW 400 billion
Maturity of Securities	Perpetual Securities with the conditions of Call option after 5, 7 or 10 years from the issuance date and at every interest (dividend) payment date (1 or 3 months) following the first call date by the issuer.
Point of Non-Viability Trigger Event	Under Article 2 of the Act on the Structural Improvement of the Financial Industry, the total amount of the contingent capital securities (including interests) will be written off without any prior consent or approval from related parties if the issuing company is designated as an insolvent financial institution.

 

* The details of issuance and interest rate will be delegated to the CEO of Shinhan Bank.

 

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