Exhibit 99.1
Shinhan Financial Group FY 2023 Operating Results
On February 8, 2024, Shinhan Financial Group released its operating results for the fiscal year 2023. 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 audited by our independent auditor. As figures provided have not yet been fully audited by our independent auditor, contents are subject to change in the due course of the auditing process.
1. Operating Results of Shinhan Financial Group (consolidated)
| | | | | | |
| | | | (KRW million) |
Item | 4Q 2023 | 3Q 2023 | QoQ Change (%) | 4Q 2022 | YoY Change (%) |
Revenue* | Specified Quarter | 12,123,940 | 16,643,190 | -27.15 | 3,224,333 | 276.01 |
Cumulative | 61,332,629 | 49,208,689 | - | 58,815,309 | 4.28 |
Operating Income | Specified Quarter | 904,484 | 1,704,133 | -46.92 | 580,139 | 55.91 |
Cumulative | 6,100,850 | 5,196,366 | - | 5,905,564 | 3.31 |
Income before Income Taxes | Specified Quarter | 789,399 | 1,590,382 | -50.36 | 470,110 | 67.92 |
Cumulative | 5,964,960 | 5,175,561 | - | 6,366,626 | -6.31 |
Net Income | Specified Quarter | 576,052 | 1,218,825 | -52.74 | 385,790 | 49.32 |
Cumulative | 4,478,000 | 3,901,948 | - | 4,755,514 | -5.84 |
Net Income Attributable to Controlling Interest | Specified Quarter | 549,747 | 1,192,065 | -53.88 | 358,870 | 53.19 |
Cumulative | 4,368,035 | 3,818,288 | - | 4,665,643 | -6.38 |
* 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’. The figures for same term of last year have been restated for the purpose of improved comparability.
2. Operating Results of Shinhan Bank (consolidated)
| | | | | | |
| | | | (KRW million) |
Item | 4Q 2023 | 3Q 2023 | QoQ Change (%) | 4Q 2022 | YoY Change (%) |
Revenue* | Specified Quarter | 6,484,017 | 10,846,469 | -40.22 | 216,302 | 2,897.67 |
Cumulative | 37,459,679 | 30,975,662 | - | 35,514,461 | 5.48 |
Operating Income | Specified Quarter | 692,877 | 1,165,144 | -40.53 | 652,829 | 6.13 |
Cumulative | 4,147,197 | 3,454,320 | - | 4,162,750 | -0.37 |
Income before Income Taxes | Specified Quarter | 629,843 | 1,152,740 | -45.36 | 595,832 | 5.71 |
Cumulative | 4,041,105 | 3,411,262 | - | 4,107,626 | -1.62 |
Net Income | Specified Quarter | 468,716 | 918,578 | -48.97 | 452,690 | 3.54 |
Cumulative | 3,067,991 | 2,599,275 | - | 3,045,732 | 0.73 |
Net Income Attributable to Controlling Interest | Specified Quarter | 468,591 | 918,543 | -48.99 | 452,530 | 3.55 |
Cumulative | 3,067,681 | 2,599,090 | - | 3,045,013 | 0.74 |
* Represents the sum of interest revenues, fees and commissions revenues, and other operating revenues
3. Operating Results of Shinhan Card (consolidated)
| | | | | | |
| | | (KRW million) |
Item | 4Q 2023 | 3Q 2023 | QoQ Change (%) | 4Q 2022 | YoY Change (%) |
Revenue* | Specified Quarter | 1,270,099 | 1,442,586 | -11.96 | 755,435 | 68.13 |
Cumulative | 5,378,610 | 4,108,511 | - | 4,761,181 | 12.97 |
Operating Income | Specified Quarter | 200,639 | 197,280 | 1.70 | 76,696 | 161.60 |
Cumulative | 802,827 | 602,188 | - | 765,041 | 4.94 |
Income before Income Taxes | Specified Quarter | 201,148 | 199,042 | 1.06 | 75,438 | 166.64 |
Cumulative | 803,200 | 602,052 | - | 836,731 | -4.01 |
Net Income | Specified Quarter | 151,804 | 152,500 | -0.46 | 55,233 | 174.84 |
Cumulative | 621,908 | 470,104 | - | 644,555 | -3.51 |
Net Income Attributable to Controlling Interest | Specified Quarter | 151,470 | 152,196 | -0.48 | 53,707 | 182.03 |
Cumulative | 620,582 | 469,112 | - | 641,368 | -3.24 |
* Represents the sum of interest revenues, fees and commissions revenues, and other operating revenues
4. Operating Results of Shinhan Life (consolidated)
| | | | | | |
| | | (KRW million) |
Item | 4Q 2023 | 3Q 2023 | QoQ Change (%) | 4Q 2022 | YoY Change (%) |
Revenue* | Specified Quarter | 1,585,040 | 1,479,438 | 7.14 | 844,885 | 87.60 |
Cumulative | 6,451,715 | 4,866,675 | - | 6,377,305 | 1.17 |
Operating Income | Specified Quarter | 69,008 | 167,486 | -58.80 | 47,814 | 44.33 |
Cumulative | 659,057 | 590,049 | - | 550,580 | 19.70 |
Income before Income Taxes | Specified Quarter | 59,721 | 162,626 | -63.28 | 36,405 | 64.05 |
Cumulative | 639,553 | 579,832 | - | 532,906 | 20.01 |
Net Income | Specified Quarter | 44,771 | 115,942 | -61.39 | 79,000 | -43.33 |
Cumulative | 472,395 | 427,624 | - | 449,392 | 5.12 |
Net Income Attributable to Controlling Interest | Specified Quarter | 44,771 | 115,942 | -61.39 | 79,000 | -43.33 |
Cumulative | 472,395 | 427,624 | - | 449,392 | 5.12 |
* 'Sales Amount' represents the sum of insurance revenues and investment 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’. The figures for same term of last year have been restated for the purpose of improved comparability.
