UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

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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 October 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

 

 

 

3Q2024 Preliminary Operating Results of Shinhan Financial Group

 

On October 25, 2024, Shinhan Financial Group released its preliminary operating results for 3Q 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. Preliminary Operating Results of Shinhan Financial Group (consolidated)

 

 

 

 

(KRW million)

Item

3Q 2024

2Q 2024

QoQ Change (%)

3Q 2023

YoY Change (%)

Revenue*

Specified Quarter

11,622,046

17,971,913

-35.33

16,643,190

-30.17

Cumulative

49,716,172

38,094,126

-

49,208,689

1.03

Operating Income

Specified Quarter

1,790,458

1,852,543

-3.35

1,704,133

5.07

Cumulative

5,711,237

3,920,779

-

5,196,366

9.91

Income before Income Taxes

Specified Quarter

1,685,929

1,871,439

-9.91

1,590,382

6.01

Cumulative

5,347,873

3,661,944

-

5,175,561

3.33

Net Income

Specified Quarter

1,266,981

1,450,986

-12.68

1,218,825

3.95

Cumulative

4,065,796

2,798,815

-

3,901,948

4.20

Net Income Attributable to Controlling Interest

Specified Quarter

1,238,602

1,425,479

-13.11

1,192,065

3.90

Cumulative

3,985,613

2,747,011

-

3,818,288

4.38

* 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’.

 

2. Preliminary Operating Results of Shinhan Bank (consolidated)

 

 

 

 

(KRW million)

Item

3Q 2024

2Q 2024

QoQ Change (%)

3Q 2023

YoY Change (%)

Revenue*

Specified Quarter

5,943,090

11,189,259

-46.89

10,846,469

-45.21

Cumulative

29,792,206

23,849,116

-

30,975,662

-3.82

Operating Income

Specified Quarter

1,400,564

1,351,723

3.61

1,165,144

20.21

Cumulative

4,249,146

2,848,582

-

3,454,320

23.01

Income before Income Taxes

Specified Quarter

1,365,776

1,415,558

-3.52

1,152,740

18.48

Cumulative

4,002,032

2,636,256

-

3,411,262

17.32

Net Income

Specified Quarter

1,049,442

1,124,946

-6.71

918,578

14.25

Cumulative

3,103,237

2,053,795

-

2,599,275

19.39

Net Income Attributable to Controlling Interest

Specified Quarter

1,049,317

1,124,845

-6.71

918,543

14.24

Cumulative

3,102,777

2,053,460

-

2,599,090

19.38

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

 

3. Preliminary Operating Results of Shinhan Card (consolidated)

 

 

 

(KRW million)

Item

3Q 2024

2Q 2024

QoQ Change (%)

3Q 2023

YoY Change (%)

Revenue*

Specified Quarter

1,253,537

1,547,150

-18.98

1,442,586

-13.10

Cumulative

4,322,577

3,069,040

-

4,108,511

5.21

Operating Income

Specified Quarter

226,881

247,444

-8.31

197,280

15.00

Cumulative

711,373

484,492

-

602,188

18.13

Income before Income Taxes

Specified Quarter

228,240

249,211

-8.41

199,042

14.67

Cumulative

717,537

489,297

-

602,052

19.18

Net Income

Specified Quarter

174,289

195,149

-10.69

152,500

14.29

Cumulative

555,085

380,796

-

470,104

18.08

Net Income Attributable to Controlling Interest

Specified Quarter

173,399

194,278

-10.75

152,196

13.93

Cumulative

552,732

379,333

-

469,112

17.83

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

 

4. Preliminary Operating Results of Shinhan Life (consolidated)

 

 

 

(KRW million)

Item

3Q 2024

2Q 2024

QoQ Change (%)

3Q 2023

YoY Change (%)

Revenue*

Specified Quarter

1,420,921

1,707,232

-16.77

1,479,437

-3.96

Cumulative

5,010,639

3,589,718

-

4,866,674

2.96

Operating Income

Specified Quarter

208,862

218,114

-4.24

167,486

24.70

Cumulative

644,117

435,255

-

590,049

9.16

Income before Income Taxes

Specified Quarter

209,003

217,212

-3.78

162,626

28.52

Cumulative

639,732

430,729

-

579,832

10.33

Net Income

Specified Quarter

154,200

158,715

-2.84

115,941

33.00

Cumulative

467,107

312,907

-

427,623

9.23

Net Income Attributable to Controlling Interest

Specified Quarter

154,200

158,715

-2.84

115,941

33.00

Cumulative

467,107

312,907

-

427,623

9.23

* Represents the sum of insurance revenues and investment revenues.

* 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: October 25, 2024

 

By:

/s/ CHUN Sang-yung

 

 

 

 

 

 

Name: CHUN Sang-yung

 

 

Title: Chief Financial Officer

 

 

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