NYSE : SHG
Shinhan Financial Group Co., Ltd. — Financial statements
Financials · Banks - Regional · South Korea
Last price 65.59 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 31.54B
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Financial statements
Income statement
Fiscal year January - December; amounts in KRW.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 28.09T | 27.99T | 29.21T | 27.58T | 20.09T | 11.93T |
| Interest Income on Investments | 435.27B | 209.68B | 239.10B | 181.49B | 177.57B | 2.92T |
| Total Interest Income | 28.52T | 28.20T | 29.45T | 27.76T | 20.27T | 14.85T |
| Interest Paid on Deposits | 16.27T | 16.29T | 17.81T | 16.76T | 9.50T | 2.17T |
| Interest Paid on Borrowings | -92.10B | 1.78T | ||||
| Total Interest Expense | 16.17T | 16.29T | 17.81T | 16.76T | 9.50T | 3.95T |
| Net Interest Income | 12.35T | 11.90T | 11.64T | 11.00T | 10.77T | 10.89T |
| Income From Trading Activities | -64.13B | |||||
| Gain (Loss) on Sale of Assets | 22.05B | 25.83B | 9.78B | 59.63B | -55.89B | |
| Gain (Loss) on Sale of Investments | 1.58T | 137.31B | -1.26B | -151.74B | -161.48B | 1.05T |
| Gain (Loss) on Sale of Equity Investments | -63.49B | 198.19B | ||||
| Other Non-Interest Income | 8.46T | 5.66T | 4.98T | 5.56T | 3.93T | 11.45T |
| Total Non-Interest Income | 10.12T | 5.82T | 4.98T | 5.47T | 3.77T | 13.89T |
| Revenues Before Loan Losses | 22.47T | 17.72T | 16.63T | 16.46T | 14.54T | 24.79T |
| Provision for Loan Losses | 1.91T | 2.00T | 2.01T | 2.24T | 1.29T | 959.23B |
| Revenue | 20.56T | 15.72T | 14.61T | 14.22T | 13.25T | 23.83T |
| Salaries and Employee Benefits | 207.49B | 24.84B | 12.48B | 11.86B | 9.78B | 3.78T |
| Occupancy Expenses | -7.09B | 490.46B | ||||
| Amortization of Goodwill & Intangibles | 5.28B | 155.20B | ||||
| Selling, General & Administrative | 6.10T | 6.10T | 5.87T | 5.69T | 5.48T | 1.13T |
| Other Non-Interest Expense | 6.33T | 2.33T | 2.07T | 2.19T | 1.70T | 12.02T |
| Total Non-Interest Expense | 12.69T | 8.51T | 8.32T | 8.05T | 6.73T | 18.20T |
| EBT Excluding Unusual Items | 7.87T | 7.21T | 6.29T | 6.17T | 6.52T | 5.63T |
| Asset Writedown | -3.02B | -3.02B | -4.16B | -7.13B | -42.14B | |
| Pretax Income | 7.59T | 6.93T | 6.03T | 5.96T | 6.37T | 5.58T |
| Income Tax Expense | 2.10T | 1.84T | 1.47T | 1.49T | 1.61T | 1.47T |
| Earnings From Continuing Operations | 5.49T | 5.08T | 4.56T | 4.48T | 4.76T | 4.11T |
| Minority Interest in Earnings | -109.15B | -112.96B | -107.99B | -109.97B | -89.87B | -93.37B |
| Net Income | 5.38T | 4.97T | 4.45T | 4.37T | 4.67T | 4.02T |
| Preferred Dividends & Other Adjustments | 198.53B | 197.93B | 176.94B | 189.67B | 156.28B | 116.39B |
| Net Income to Common | 5.18T | 4.77T | 4.27T | 4.18T | 4.51T | 3.90T |
| Basic Shares Outstanding | 477.00M | 486.48M | 506.23M | 519.21M | 530.64M | 534.05M |
| Diluted Shares Outstanding | 477.00M | 486.48M | 506.23M | 519.21M | 530.64M | 534.05M |
| EPS (Basic) | 10,856.20 | 9,812.50 | 8,441.26 | 8,047.57 | 8,498.00 | 7,308.05 |
| EPS (Diluted) | 10,856.20 | 9,812.50 | 8,441.26 | 8,047.57 | 8,498.00 | 7,308.05 |
| Dividend Per Share | 2.93K | 2.59K | 2.16K | 2.10K | 2.06K | 1.96K |
| Effective Tax Rate | 27.71% | 26.62% | 24.40% | 24.93% | 25.30% | 26.35% |
Balance sheet
Fiscal year January - December; amounts in KRW.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 48.08T | 35.28T | 35.23T | 30.40T | 24.39T | 18.72T |
| Investment Securities | 2.44T | 138.77T | 131.53T | 130.01T | 123.70T | 2.91T |
| Trading Asset Securities | 237.64T | 81.58T | 80.53T | 73.95T | 66.16T | 179.17T |
| Total Investments | 240.08T | 220.34T | 212.06T | 203.96T | 189.86T | 182.08T |
| Gross Loans | 485.39T | 469.08T | 453.89T | 416.09T | 411.57T | 394.02T |
| Allowance for Loan Losses | -4.44T | -4.28T | -4.57T | -4.33T | -3.65T | -3.17T |
| Other Adjustments to Gross Loans | -24.90B | -26.25B | -29.92B | -23.06B | -21.88B | -30.00B |
| Net Loans | 480.92T | 464.77T | 449.30T | 411.74T | 407.90T | 390.82T |
| Property, Plant & Equipment | 4.08T | 4.15T | 4.16T | 3.97T | 4.01T | 5.44T |
| Goodwill | 4.66T | 4.67T | 4.68T | 4.68T | 4.67T | |
| Other Intangible Assets | 5.94T | 692.49B | 777.14B | 1.08T | 669.65B | 745.50B |
| Investments in Real Estate | 660.84B | 611.62B | 327.70B | 257.81B | 363.11B | 675.39B |
| Accrued Interest Receivable | 3.77T | 3.81T | 3.91T | 3.29T | 2.66T | |
| Other Receivables | 27.55T | 13.70T | 17.11T | 11.54T | 12.75T | |
| Restricted Cash | 3.50T | 3.64T | 2.91T | 3.70T | 9.85T | |
| Other Current Assets | 127.75B | 5.71T | 3.74T | 3.70T | 3.90T | 1.05T |
| Long-Term Deferred Tax Assets | 176.88B | 209.72B | 205.51B | 153.72B | 915.37B | 134.85B |
| Other Long-Term Assets | 60.83T | 14.22T | 7.48T | 7.47T | 8.75T | 18.32T |
| Total Assets | 840.89T | 786.01T | 739.76T | 691.80T | 664.43T | 648.15T |
| Accounts Payable | 29.03T | 15.14T | 18.92T | 12.34T | ||
| Accrued Expenses | 6.96T | 7.02T | 5.88T | 4.42T | 3.27T | |
| Interest Bearing Deposits | 294.19T | 276.33T | 263.35T | 230.75T | 225.96T | 193.37T |
| Non-Interest Bearing Deposits | 182.74T | 172.84T | 160.03T | 151.18T | 157.45T | 172.11T |
| Total Deposits | 476.93T | 449.17T | 423.38T | 381.93T | 383.41T | 365.48T |
| Short-Term Borrowings | 29.97T | 29.55T | 30.77T | 32.10T | 26.86T | 15.84T |
| Current Portion of Leases | 276.95B | 291.15B | 228.11B | 212.88B | ||
| Current Income Taxes Payable | 262.42B | 763.38B | 203.13B | 92.25B | 702.14B | 702.66B |
| Other Current Liabilities | 7.47T | 1.64T | 1.39T | 2.34T | 1.51T | 8.84T |
| Long-Term Debt | 185.19T | 132.24T | 131.20T | 119.20T | 115.78T | 180.42T |
| Long-Term Leases | 513.39B | 599.54B | 385.80B | 410.46B | ||
| Long-Term Unearned Revenue | 446.97B | 453.71B | 492.89B | 448.09B | 397.01B | |
| Pension & Post-Retirement Benefits | 20.32B | 17.82B | 38.97B | 67.62B | 14.66B | 51.20B |
| Long-Term Deferred Tax Liabilities | 1.22T | 446.80B | 423.82B | 542.60B | 810.57B | 175.95B |
| Other Long-Term Liabilities | 77.30T | 74.58T | 70.04T | 73.30T | 64.08T | 23.43T |
| Total Liabilities | 778.37T | 725.64T | 680.94T | 635.47T | 611.01T | 598.61T |
| Common Stock | 2.97T | 2.97T | 2.97T | 2.97T | 2.97T | 2.97T |
| Additional Paid-In Capital | 2.23T | 12.10T | 12.09T | 12.09T | 12.10T | 12.10T |
| Retained Earnings | 53.45T | 41.80T | 39.02T | 36.39T | 33.96T | 30.54T |
| Treasury Stock | -641.92B | |||||
| Comprehensive Income & Other | 1.45T | 1.09T | 1.97T | 2.27T | 1.70T | 2.33T |
| Total Common Equity | 60.10T | 57.96T | 56.05T | 53.72T | 50.73T | 47.29T |
| Minority Interest | 2.42T | 2.41T | 2.77T | 2.60T | 2.69T | 2.25T |
| Shareholders' Equity | 62.52T | 60.37T | 58.82T | 56.32T | 53.42T | 49.54T |
| Total Liabilities & Equity | 840.89T | 786.01T | 739.76T | 691.80T | 664.43T | 648.15T |
| Total Debt | 215.17T | 162.58T | 162.86T | 151.91T | 143.27T | 196.26T |
| Net Cash (Debt) | 70.56T | -44.75T | -45.44T | -46.24T | -50.76T | 1.63T |
| Net Cash Per Share | 147,916.37 | -91,991.42 | -89,766.54 | -89,062.71 | -95,649.34 | 3,046.64 |
| Filing Date Shares Outstanding | 469.45M | 477.16M | 498.86M | 512.75M | 527.47M | 516.59M |
| Total Common Shares Outstanding | 469.45M | 477.16M | 498.86M | 512.75M | 527.47M | 534.08M |
| Book Value Per Share | 128,023.68 | 111,513.38 | 103,142.48 | 96,964.41 | 88,222.60 | 88,547.74 |
| Tangible Book Value | 54.16T | 52.61T | 50.61T | 47.97T | 45.38T | 41.88T |
| Tangible Book Value Per Share | 115,379.43 | 100,302.90 | 92,232.48 | 85,743.99 | 78,073.13 | 78,407.53 |
Cash flow statement
Fiscal year January - December; amounts in KRW.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 5.38T | 4.97T | 4.45T | 4.37T | 4.67T | 4.02T |
| Depreciation & Amortization | 949.82B | 990.37B | 1.00T | 962.07B | 821.92B | 902.69B |
| Other Amortization | 304.72B | 304.72B | 275.64B | 222.94B | 177.76B | |
| Gain (Loss) on Sale of Investments | -2.82T | -1.50T | -653.03B | -1.35T | 1.14T | -662.35B |
| Provision for Credit Losses | 1.83T | 1.91T | 1.90T | 2.15T | 1.26T | 974.68B |
| Change in Trading Asset Securities | -6.04T | -4.74T | 214.35B | -8.10T | 7.00T | -2.93T |
| Change in Other Net Operating Assets | -32.76T | -19.09T | -44.40T | 659.61B | -27.88T | -37.31T |
| Other Operating Activities | 4.86T | 3.02T | 2.93T | 3.13T | 1.81T | 2.42T |
| Operating Cash Flow | -28.47T | -14.36T | -34.25T | 1.91T | -11.12T | -32.75T |
| Capital Expenditures | -269.42B | -258.66B | -263.84B | -261.44B | -326.55B | -343.17B |
| Sale of Property, Plant and Equipment | 45.96B | 56.60B | 6.65B | 19.82B | 718.35B | 68.14B |
| Cash Acquisitions | -1.26T | -1.07T | -27.84B | |||
| Investment in Securities | -12.58T | -9.14T | 1.07T | -3.72T | -10.36T | -11.00T |
| Income (Loss) Equity Investments | -157.73B | -221.22B | 23.82B | -125.09B | -121.70B | -158.60B |
| Divestitures | 98.27B | 98.27B | ||||
| Purchase / Sale of Intangibles | -542.15B | -363.96B | -506.84B | -429.76B | -593.54B | -539.47B |
| Other Investing Activities | -427.49B | -228.03B | -154.95B | -39.64B | -361.95B | -212.45B |
| Investing Cash Flow | -14.93T | -10.90T | 148.53B | -4.27T | -10.70T | -12.03T |
| Long-Term Debt Issued | 49.61T | 54.66T | 55.83T | 45.67T | 30.56T | |
| Long-Term Debt Repaid | -45.52T | -53.59T | -44.07T | -42.04T | -24.42T | |
| Lease Payments | -281.53B | -281.53B | -272.63B | -262.06B | -259.91B | |
| Net Debt Issued (Repaid) | 2.36T | 4.09T | 1.07T | 11.76T | 3.63T | 6.15T |
| Issuance of Common Stock | 797.87B | 797.87B | 798.16B | 897.65B | 997.12B | 23.59B |
| Repurchase of Common Stock | -1.95T | -1.90T | -900.10B | -1.68T | -435.06B | -79.00M |
| Common Dividends Paid | -1.51T | -1.29T | -1.27T | -1.46T | -1.54T | -1.22T |
| Total Dividends Paid | -1.51T | -1.29T | -1.27T | -1.46T | -1.54T | -1.22T |
| Net Increase (Decrease) in Deposit Accounts | 50.52T | 24.09T | 38.87T | -1.38T | 18.31T | 36.95T |
| Other Financing Activities | -433.03B | -444.15B | 112.28B | 248.85B | 744.14B | 10.63B |
| Financing Cash Flow | 49.78T | 25.34T | 38.69T | 8.38T | 21.70T | 41.91T |
| Foreign Exchange Rate Adjustments | 160.94B | -26.86B | 238.48B | -15.36B | -58.95B | 112.85B |
| Net Cash Flow | 6.55T | 47.58B | 4.83T | 6.00T | -171.73B | -2.76T |
| Free Cash Flow | -28.74T | -14.62T | -34.51T | 1.65T | -11.45T | -33.09T |
| Free Cash Flow Margin | -139.75% | -93.00% | -236.17% | 11.59% | -86.39% | -138.88% |
| Free Cash Flow Per Share | -60,241.62 | -30,054.49 | -68,172.47 | 3,174.85 | -21,572.64 | -61,964.32 |
| Free Cash Flow After Leases | -29.02T | -14.90T | -34.78T | 1.39T | -11.71T | -33.09T |
| Cash Interest Paid | 14.25T | 14.75T | 15.22T | 13.06T | 6.77T | 4.11T |
| Cash Income Tax Paid | 1.67T | 1.08T | 1.03T | 1.93T | 1.69T | 1.15T |
Ratios
Fiscal year January - December; amounts in KRW.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 30.30B | 25.66B | 16.24B | 15.88B | 14.73B | 16.50B |
| Last Close Price | 64.31 | 52.63 | 31.31 | 28.37 | 24.86 | 26.38 |
| PE Ratio | 7.93 | 7.76 | 5.61 | 4.93 | 4.11 | 5.04 |
| PS Ratio | 2.28 | 2.36 | 1.64 | 1.45 | 1.40 | 0.82 |
| PB Ratio | 0.75 | 0.61 | 0.41 | 0.37 | 0.35 | 0.40 |
| P/FCF Ratio | 12.49 | |||||
| P/OCF Ratio | 10.78 | |||||
| Debt / Equity Ratio | 3.44 | 2.69 | 2.77 | 2.70 | 2.68 | 3.96 |
| Debt / FCF Ratio | 92.16 | |||||
| Net Debt / Equity Ratio | -1.13 | 0.74 | 0.77 | 0.82 | 0.95 | -0.03 |
| Net Debt / FCF Ratio | 2.46 | -3.06 | -1.32 | 28.05 | -4.43 | 0.05 |
| Return on Equity (ROE) | 8.94% | 8.53% | 7.92% | 8.16% | 9.24% | 8.58% |
| Return on Assets (ROA) | 0.69% | 0.67% | 0.64% | 0.66% | 0.73% | 0.66% |
| Earnings Yield | 12.60% | 13.42% | 18.55% | 21.22% | 25.19% | 20.45% |
| FCF Yield | -70.80% | -39.48% | -143.86% | 8.01% | -61.80% | -168.37% |
| Dividend Yield | 2.46% | 3.34% | 4.49% | 5.23% | 5.88% | 5.33% |
| Payout Ratio | 19.51% | 26.02% | 28.47% | 33.46% | 33.03% | 30.32% |
| Buyback Yield / Dilution | 4.03% | 3.90% | 2.50% | 2.15% | 0.64% | -6.74% |
| Total Shareholder Return | 6.49% | 7.24% | 6.99% | 7.38% | 6.52% | -1.41% |