Document and entity information
Document and entity information | 12 Months Ended |
Dec. 31, 2019shares | |
Document and Entity Information [Abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Trading Symbol | SHG |
Entity Registrant Name | SHINHAN FINANCIAL GROUP CO LTD |
Entity Central Index Key | 0001263043 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 460,317,525 |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Document Annual Report | true |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Document Transition Report | false |
Document Shell Company Report | false |
Document Registration Statement | false |
Security 12b Title | American Depositary Shares |
Security Exchange Name | NYSE |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | ||
Assets | ||||
Cash and due from banks at amortized cost (Notes 4, 8 and 19) | ₩ 28,423,744 | ₩ 17,348,626 | ||
Financial assets at fair value through profit or loss (Notes 4, 9 and 19) | 53,163,143 | 43,534,766 | ||
Derivative assets (Notes 4 and 10) | 2,829,274 | 1,793,613 | ||
Securities at fair value through other comprehensive income (Notes 4, 11 and 19) | 59,381,053 | 38,314,170 | ||
Securities at amortized cost (Notes 4, 11 and 19) | 45,582,065 | 28,478,136 | ||
Loans at amortized cost (Notes 4, 12 and 19) | 323,244,979 | 299,609,472 | ||
Property and equipment (Notes 13, 18, 19 and 51) | 4,083,328 | 3,003,886 | ||
Intangible assets (Notes 14) | 5,558,714 | 4,320,134 | ||
Investments in associates (Note 15) | 1,452,861 | 671,330 | ||
Current tax receivable | 88,433 | 45,100 | ||
Deferred tax assets (Note 44) | 218,254 | 426,965 | ||
Investment property (Note 16) | 488,610 | 474,820 | ||
Employee benefits (Note 25) | 1,682 | 0 | ||
Other assets (Notes 4 and 17) | 27,878,281 | 21,571,918 | ||
Assets held for sale | 25,160 | 7,574 | ||
Total assets | 552,419,581 | 459,600,510 | ||
Liabilities | ||||
Deposits (Notes 4 and 20) | 294,874,256 | 265,000,190 | ||
Financial liabilities at fair value through profit or loss (Notes 4 and 21) | 1,632,457 | 1,420,306 | ||
Financial liabilities designated at fair value through profit or loss (Notes 4 and 22) | [1] | 9,409,456 | 8,535,800 | |
Derivative liabilities (Notes 4 and 10) | 2,303,012 | 2,439,892 | ||
Borrowings (Notes 4 and 23) | 34,863,156 | 29,818,542 | ||
Debt securities issued (Notes 4 and 24) | 75,363,364 | 63,227,699 | ||
Liabilities for defined benefit obligations (Note 25) | 121,140 | 127,348 | ||
Provisions (Note 26) | 557,024 | 508,416 | [2] | |
Current tax payable | 512,757 | 430,306 | ||
Deferred tax liabilities (Note 44) | 451,603 | 22,020 | ||
Liabilities under insurance contracts (Note 27) | 52,163,417 | 26,218,882 | ||
Other liabilities (Notes 4 ,28 and 51) | 38,237,558 | 25,199,679 | ||
Total liabilities | 510,489,200 | 422,949,080 | ||
Equity (Note 29) | ||||
Capital stock | 2,732,463 | 2,645,053 | ||
Hybrid bonds | 1,731,235 | 1,531,759 | ||
Capital surplus | 10,565,353 | 9,895,488 | ||
Capital adjustments | [3] | (1,116,770) | (552,895) | |
Accumulated other comprehensive loss | (260,156) | (753,220) | ||
Retained earnings | [4],[5],[6] | 25,525,821 | 22,959,440 | |
Total equity attributable to equity holders of Shinhan Financial Group Co., Ltd. | 39,177,946 | 35,725,625 | ||
Non-controlling interests | [7],[8] | 2,752,435 | 925,805 | |
Total equity | 41,930,381 | 36,651,430 | ||
Total liabilities and equity | ₩ 552,419,581 | ₩ 459,600,510 | ||
[1] | The Group designated the financial liabilities at the initial recognition (or subsequently) in accordance with paragraph 6.7.1 of IFRS 9 as financial liabilities at fair value through profit or loss. | |||
[2] | In accordance with IFRS 15, the Group has adjusted all bonus card point reward program related to customer loyalty programs. | |||
[3] | The Group acquired treasury stocks through a treasury stock trust for the years ended December 31, 2018 and 2019 and has recognized the consideration paid in equity, directly. The Group entered into a shareholders' agreement to acquire additional shares in the Asia Trust Co., Ltd., resulting in decrease of W125,829 million in capital adjustment for the year ended December 31, 2019. | |||
[4] | As of December 31, 2018 and 2019, profits reserved by the Group as of Article 53 of the Financial Holding Companies Act amounted to W2,068,190 million and W2,191,677 million, respectively. | |||
[5] | As of December 31, 2018 and 2019, the regulatory reserves for loan losses the Group appropriated in retained earnings are W7,572 million and W8,728 million, respectively. | |||
[6] | As of December 31, 2019, profit dividends within retained earnings of subsidiaries of the Group subject to a restricted dividend in accordance with laws, etc. are amounted to W6,419,934 million. | |||
[7] | As of December 31, 2018 and 2019, the total amounts of hybrid bonds that Shinhan Bank, Jeju Bank and Shinhan Capital have recognized as non-controlling interests were W748,497 million and W1,147,635 million, respectively. And, as of December 31, 2018 and 2019, the amounts of dividends paid for the hybrid bonds by Shinhan Bank, Jeju Bank, and Shinhan Capital, W27,546 million and W36,729 million, respectively, are allocated to the net income of non-controlling interest. | |||
[8] | The non-controlling interest of W1,250,333 million increased due to business combination with Orange Life Insurance Co.,Ltd and Asia Trust Co., Ltd. for the year ended December 31, 2019. (Note 50) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net interest income | |||
Interest income | ₩ 15,707,362 | ₩ 13,572,456 | ₩ 11,798,654 |
Interest expense | (5,969,398) | (4,992,367) | (3,955,701) |
Net interest income (Note 31) | 9,737,964 | 8,580,089 | 7,842,953 |
Net fees and commission income | |||
Fees and commission income | 3,557,013 | 3,295,256 | 4,044,955 |
Fees and commission expense | (1,416,494) | (1,356,259) | (2,334,001) |
Net fees and commission income (Note 32) | 2,140,519 | 1,938,997 | 1,710,954 |
Net insurance loss | |||
Insurance income | 7,569,425 | 4,398,738 | 4,599,808 |
Insurance expenses | (8,066,351) | (4,870,437) | (5,059,847) |
Net insurance loss (Note 27) | (496,926) | (471,699) | (460,039) |
Dividend income (Note 33) | 82,158 | 87,826 | 257,306 |
Net gain on financial instruments at fair value through profit or loss (Note 34) | 1,385,482 | 420,026 | |
Net gain (loss) on financial instruments at fair value through profit or loss (overlay approach) (Note 9) | (247,585) | 74,944 | |
Net trading income (Note 35) | 963,223 | ||
Net loss on financial instruments designated at fair value through profit or loss (IFRS 9) (Note 36) | (846,046) | (26,643) | |
Net loss on financial instruments designated at fair value through profit or loss (IAS 39) (Note 37) | (1,059,826) | ||
Net foreign currency transaction gain | 440,948 | 194,136 | 364,006 |
Net gain on disposal of financial asset at fair value through other comprehensive income (Note 11) | 152,278 | 20,554 | |
Net gain on disposal of available-for-sale financial assets | 499,187 | ||
Net gain (loss) on disposal of securities at amortized cost (Note 11) | 66 | (9) | |
Provision for allowance for credit loss (Note 38) | (980,692) | (747,877) | |
Impairment loss on financial assets (Note 39) | (1,013,548) | ||
General and administrative expense (Note 40) | (5,134,674) | (4,741,575) | (4,811,198) |
Other operating expenses, net (Note 42) | (1,187,242) | (829,355) | (462,992) |
Operating income | 5,046,250 | 4,499,414 | 3,830,026 |
Equity method income (Note 15) | 53,287 | 17,488 | 20,393 |
Other non-operating income (expense), net (Note 43) | (188,029) | (50,292) | (52,811) |
Profit before income taxes | 4,911,508 | 4,466,610 | 3,797,608 |
Income tax expense (Note 44) | (1,269,124) | (1,268,345) | (848,403) |
Profit for the year | 3,642,384 | 3,198,265 | 2,949,205 |
Items that are or may be reclassified to profit or loss: | |||
Gain on financial asset at fair value through other comprehensive income | 352,085 | 161,008 | |
Gain (Loss) on financial instruments at fair value through profit or loss (overlay approach) (Note 9) | 162,967 | (54,333) | |
Loss on available-for-sale financial assets | 0 | (323,127) | |
Equity in other comprehensive income (loss) of associates | 3,302 | 7,407 | (22,813) |
Foreign currency translation adjustments for foreign operations | 105,771 | 19,983 | (194,172) |
Net change in unrealized fair value of cash flow hedges | (18,589) | (20,192) | 15,904 |
Other comprehensive income (loss) of separate account | 10,427 | 8,676 | (9,278) |
Items that are or may be reclassified to profit or loss | 615,963 | 122,549 | (533,486) |
Items that will never be reclassified to profit or loss: | |||
Remeasurements of the defined benefit liability | (54,644) | (93,098) | 103,525 |
Equity in other comprehensive income (loss) of associates | (8) | 28 | 847 |
Valuation gain on financial asset at fair value through other comprehensive income | 18,885 | 22,725 | |
Loss on disposal of financial asset at fair value through other comprehensive income | (5,861) | (2,635) | |
Changes in own credit risk on financial liabilities designated at fair value through profit or loss | (8,425) | 1,723 | |
Items that will never be reclassified to profit or loss | (50,053) | (71,257) | 104,372 |
Total other comprehensive income (loss), net of income tax | 565,910 | 51,292 | (429,114) |
Total comprehensive income for the year | 4,208,294 | 3,249,557 | 2,520,091 |
Profit for the year attributable to: | |||
Equity holders of Shinhan Financial Group Co., Ltd. (Notes 29 and 45) | 3,403,497 | 3,156,722 | 2,918,816 |
Non-controlling interest | 238,887 | 41,543 | 30,389 |
Total comprehensive income attributable to: | |||
Equity holders of Shinhan Financial Group Co., Ltd. | 3,890,701 | 3,207,602 | 2,491,251 |
Non-controlling interest | ₩ 317,593 | ₩ 41,955 | ₩ 28,840 |
Earnings per share: (Notes 29 and 45) | |||
Basic and diluted earnings per share in won | ₩ 7,000 | ₩ 6,579 | ₩ 6,118 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - KRW (₩) ₩ in Millions | Total | Equity attributable to equity holders of Shinhan Financial Group Co., Ltd. | Common Stock | Hybrid Bonds | Capital Surplus | Capital Adjustments | Accumulated Other Comprehensive Income (loss) | Retained Earnings | Non Controlling Interest | |
Beginning Balance at Dec. 31, 2016 | ₩ 31,744,980 | ₩ 31,109,698 | ₩ 2,645,053 | ₩ 498,316 | ₩ 9,887,335 | ₩ (458,461) | ₩ (102,583) | ₩ 18,640,038 | ₩ 635,282 | |
Total comprehensive income for the year: | ||||||||||
Profit for the year | 2,949,205 | 2,918,816 | 0 | 0 | 0 | 0 | 0 | 2,918,816 | 30,389 | |
Other comprehensive income (loss), net of income tax: | ||||||||||
Foreign currency translation adjustments | (194,172) | (193,474) | 0 | 0 | 0 | 0 | (193,474) | 0 | (698) | |
Net change in unrealized fair value of available-for-sale financial assets | (323,127) | (322,056) | 0 | 0 | 0 | 0 | (322,056) | 0 | (1,071) | |
Equity in other comprehensive income of associates | (21,966) | (21,966) | 0 | 0 | 0 | 0 | (21,552) | (414) | 0 | |
Net change in unrealized fair value of cash flow hedges | 15,904 | 15,904 | 0 | 0 | 0 | 0 | 15,904 | 0 | 0 | |
Other comprehensive income of separate account | (9,278) | (9,278) | 0 | 0 | 0 | 0 | (9,278) | 0 | 0 | |
Remeasurements of defined benefit plans | 103,525 | 103,305 | 103,305 | 0 | 220 | |||||
Total other comprehensive income (loss) | (429,114) | (427,565) | 0 | 0 | 0 | 0 | (427,151) | (414) | (1,549) | |
Total comprehensive income for the year | 2,520,091 | 2,491,251 | 0 | 0 | 0 | 0 | (427,151) | 2,918,402 | 28,840 | |
Other changes in equity: | ||||||||||
Dividends | (687,589) | (687,589) | 0 | 0 | 0 | 0 | 0 | (687,589) | 0 | |
Dividends to hybrid bonds | (17,678) | (17,678) | 0 | 0 | 0 | 0 | 0 | (17,678) | 0 | |
Issuance of hybrid bonds | 224,466 | 224,466 | 0 | 224,466 | 0 | 0 | 0 | 0 | 0 | |
Redemption of hybrid bonds | (300,000) | (300,000) | 0 | (298,861) | 0 | (1,139) | 0 | 0 | 0 | |
Acquisition of treasury stock | 0 | [1] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in other capital adjustments | 72 | 72 | 0 | 0 | 0 | 61,565 | 0 | (61,493) | 0 | |
Change in other non-controlling interests | 219,275 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 219,275 | |
Other changes in equity | (561,454) | (780,729) | 0 | (74,395) | 0 | 60,426 | 0 | (766,760) | 219,275 | |
Ending Balance at Dec. 31, 2017 | 33,703,617 | 32,820,220 | 2,645,053 | 423,921 | 9,887,335 | (398,035) | (529,734) | 20,791,680 | 883,397 | |
Other changes in equity: | ||||||||||
Redemption of preferred stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Adoption effect of IFRS9, net of tax (Note 51) | (532,020) | (528,865) | 0 | 0 | 0 | 0 | (277,011) | (251,854) | (3,155) | |
Profit for the year | 3,198,265 | 3,156,722 | 0 | 0 | 0 | 0 | 0 | 3,156,722 | 41,543 | |
Gain on financial asset at fair value through other comprehensive income | 181,098 | 179,793 | 0 | 0 | 0 | 0 | 179,793 | 0 | 1,305 | |
Gain (loss) on financial instruments at fair value through profit or loss (overlay approach) | (54,333) | (54,333) | 0 | 0 | 0 | 0 | (54,333) | 0 | 0 | |
Foreign currency translation adjustments | 19,983 | 20,465 | 0 | 0 | 0 | 0 | 20,465 | 0 | (482) | |
Net change in unrealized fair value of available-for-sale financial assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Equity in other comprehensive income of associates | 7,435 | 7,435 | 0 | 0 | 0 | 0 | 7,435 | 0 | 0 | |
Net change in unrealized fair value of cash flow hedges | (20,192) | (20,192) | 0 | 0 | 0 | 0 | (20,192) | 0 | 0 | |
Other comprehensive income of separate account | 8,676 | 8,676 | 0 | 0 | 0 | 0 | 8,676 | 0 | 0 | |
Remeasurements of defined benefit plans | (93,098) | (92,687) | 0 | 0 | 0 | 0 | (92,687) | 0 | (411) | |
Changes in own credit risk on financial liabilities designated at fair value through profit or loss | 1,723 | 1,723 | 0 | 0 | 0 | 0 | 1,723 | 0 | ||
Total other comprehensive income (loss) | 51,292 | 50,880 | 0 | 0 | 0 | 0 | 50,880 | 0 | 412 | |
Total comprehensive income for the year | 3,249,557 | 3,207,602 | 0 | 0 | 0 | 0 | 50,880 | 3,156,722 | 41,955 | |
Dividends | (687,589) | (687,589) | 0 | 0 | 0 | 0 | 0 | (687,589) | 0 | |
Dividends to hybrid bonds | (40,357) | (40,357) | 0 | 0 | 0 | 0 | 0 | (40,357) | 0 | |
Issuance of hybrid bonds | 1,107,838 | 1,107,838 | 0 | 1,107,838 | 0 | 0 | 0 | 0 | 0 | |
Redemption of hybrid bonds | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Acquisition of treasury stock | (155,923) | [1] | (155,923) | 0 | 0 | 0 | (155,923) | 0 | 0 | 0 |
Change in other capital adjustments | 2,699 | 2,699 | 0 | 0 | 8,153 | 1,063 | 0 | (6,517) | 0 | |
Change in other non-controlling interests | 3,608 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,608 | |
Other changes in equity | 230,276 | 226,668 | 0 | 1,107,838 | 8,153 | (154,860) | 0 | (734,463) | 3,608 | |
Reclassification of OCI retained earnings | 0 | 0 | 0 | 0 | 0 | 0 | 2,645 | (2,645) | 0 | |
Ending Balance at Dec. 31, 2018 | 36,651,430 | 35,725,625 | 2,645,053 | 1,531,759 | 9,895,488 | (552,895) | (753,220) | 22,959,440 | 925,805 | |
Other changes in equity: | ||||||||||
Redemption of preferred stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Profit for the year | 3,642,384 | 3,403,497 | 3,403,497 | 238,887 | ||||||
Gain on financial asset at fair value through other comprehensive income | 365,109 | 297,652 | 297,652 | 67,457 | ||||||
Gain (loss) on financial instruments at fair value through profit or loss (overlay approach) | 162,967 | 150,678 | 150,678 | 12,289 | ||||||
Foreign currency translation adjustments | 105,771 | 104,388 | 104,388 | 1,383 | ||||||
Equity in other comprehensive income of associates | 3,294 | 3,294 | 3,294 | |||||||
Net change in unrealized fair value of cash flow hedges | (18,589) | (15,960) | (15,960) | (2,629) | ||||||
Other comprehensive income of separate account | 10,427 | 10,427 | 10,427 | |||||||
Remeasurements of defined benefit plans | (54,644) | (54,850) | (54,850) | 206 | ||||||
Changes in own credit risk on financial liabilities designated at fair value through profit or loss | (8,425) | (8,425) | (8,425) | |||||||
Total other comprehensive income (loss) | 565,910 | 487,204 | 487,204 | 78,706 | ||||||
Total comprehensive income for the year | 4,208,294 | 3,890,701 | 487,204 | 3,403,497 | 317,593 | |||||
Dividends | (753,041) | (753,041) | (753,041) | |||||||
Dividends to hybrid bonds | (61,993) | (61,993) | (61,993) | |||||||
Issuance of hybrid bonds | 199,476 | 199,476 | 199,476 | |||||||
Issuance of convertible preferred shares | 747,791 | 747,791 | 87,410 | 660,381 | ||||||
Acquisition of treasury stock | (444,077) | [1] | (444,077) | (444,077) | ||||||
Change in other capital adjustments | (126,536) | (126,536) | 9,484 | (119,798) | (16,222) | |||||
Change in other non-controlling interests | 1,509,037 | 1,509,037 | ||||||||
Other changes in equity | 1,070,657 | (438,380) | 87,410 | 199,476 | 669,865 | (563,875) | (831,256) | 1,509,037 | ||
Reclassification of OCI retained earnings | 5,860 | (5,860) | ||||||||
Ending Balance at Dec. 31, 2019 | ₩ 41,930,381 | ₩ 39,177,946 | ₩ 2,732,463 | ₩ 1,731,235 | ₩ 10,565,353 | ₩ (1,116,770) | ₩ (260,156) | ₩ 25,525,821 | ₩ 2,752,435 | |
[1] | The Group entered into a treasury stock trust agreement with Samsung Securities Co., Ltd., and acquired treasury stocks. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||
Profit before income taxes | ₩ 4,911,508 | ₩ 4,466,610 | ₩ 3,797,608 |
Adjustments for: | |||
Interest income (Note 31) | (15,707,362) | (13,572,456) | (11,798,654) |
Interest expense (Note 31) | 5,969,398 | 4,992,367 | 3,955,701 |
Dividend income (Note 33) | (82,158) | (87,826) | (257,306) |
Net fees and commission expense | 125,975 | 176,932 | 169,640 |
Net insurance loss | 2,098,617 | 2,080,509 | 2,571,094 |
Net loss (gain) on financial instruments at fair value through profit or loss (Note 34) | (427,618) | 66,455 | |
Net loss (gain) on financial instruments at fair value through profit or loss (overlay approach) (Note 9) | 247,585 | (74,944) | |
Net trading loss (gain) (Note 35) | (334,133) | ||
Net foreign currency translation loss (gain) | 147,952 | 377,632 | (87,384) |
Net loss (gain) on financial instruments designated at fair value through profit or loss (IFRS 9) (Note 36) | 33,872 | (382,667) | |
Net loss on financial instruments designated at fair value through profit or loss (IAS 39) (Note 37) | 231,772 | ||
Net gain on disposal of financial asset at fair value through other comprehensive income (Note 11) | (152,278) | (20,554) | |
Net gain on disposal of available-for-sale financial assets | (499,187) | ||
Net loss (gain) on disposal of securities at amortized cost (Note 11) | (66) | 9 | |
Provision for allowance for credit loss (Note 38) | 980,692 | 747,877 | |
Provision for credit losses (Note 39) | 815,249 | ||
Impairment losses on other financial assets (Note 39) | 198,299 | ||
Employee costs | 188,313 | 155,672 | 232,709 |
Depreciation and amortization (Note 40) | 677,152 | 301,916 | 253,344 |
Other operating expense (income) (Note 42) | 305,781 | (278,274) | 602,027 |
Equity method income, net (Note 15) | (53,287) | (17,488) | (20,393) |
Other non-operating expense (income), net (Note 43) | 148,091 | 3,147 | (29,080) |
Sub-total | (5,499,341) | (5,531,693) | (3,996,302) |
Changes in assets and liabilities: | |||
Cash and due from banks at amortized cost | (10,059,356) | 6,024,743 | 0 |
Due from banks | 0 | 0 | (3,347,818) |
Securities at fair value through profit or loss | (3,977,211) | (3,082,516) | 0 |
Due from banks at fair value through profit or loss | 73,904 | (82,014) | 0 |
Loans at fair value through profit or loss | (943,321) | (422,326) | 0 |
Trading assets and liabilities | 0 | 0 | (1,706,990) |
Financial asset designated at fair value through profit or loss (IFRS 9) | 847,715 | 723,037 | 0 |
Financial instruments designated at fair value through profit or loss(IAS 39) | 0 | 0 | (1,300,760) |
Derivative instruments | 58,532 | 203,006 | (488,706) |
Loans at amortized cost | (18,831,825) | (27,547,413) | 0 |
Loans | (19,232,732) | ||
Other assets | (4,452,651) | (5,177,725) | (250,806) |
Deposits | 29,123,272 | 16,699,467 | 15,632,957 |
Liabilities for defined benefit obligations | (263,882) | (145,639) | (178,054) |
Provisions | 28,380 | 14,542 | (69,584) |
Other liabilities | 7,851,505 | 174,590 | 4,845,053 |
Sub-total | (544,938) | (12,618,248) | (6,097,440) |
Income taxes paid | (1,130,148) | (850,696) | (664,286) |
Interest received | 15,200,114 | 13,208,601 | 11,425,960 |
Interest paid | (5,793,865) | (5,058,596) | (3,710,093) |
Dividends received | 35,716 | 63,826 | 265,887 |
Net cash provided by operating activities | 7,179,046 | (6,320,196) | 1,021,334 |
Cash flows from investing activities | |||
Decrease in financial instruments at fair value through profit or loss | 3,690,283 | 2,150,860 | 0 |
Increase in financial instruments at fair value through profit or loss | (6,712,873) | (3,290,960) | 0 |
Proceeds from disposal of financial assets at fair value through other comprehensive income | 36,334,241 | 27,074,948 | 0 |
Acquisition of financial assets at fair value through other comprehensive income | (46,908,632) | (27,037,290) | 0 |
Proceeds from disposal of available-for-sale financial assets | 29,638,281 | ||
Acquisition of available-for-sale financial assets | 0 | 0 | (34,703,066) |
Proceeds from disposal of financial assets at amortized cost | 6,722,627 | 2,093,506 | 0 |
Acquisition of financial assets at amortized cost | (12,209,898) | (5,836,342) | 0 |
Proceeds from disposal of held-to-maturity financial assets | 1,712,326 | ||
Acquisition of held-to-maturity financial assets | 0 | (7,033,310) | |
Proceeds from disposal of property and equipment (Notes 13 and 43) | 51,942 | 39,202 | 11,459 |
Acquisition of property and equipment (Note 13) | (270,386) | (142,933) | (155,186) |
Proceeds from disposal of intangible assets (Notes 14 and 43) | 24,825 | 3,638 | 9,286 |
Acquisition of intangible assets (Note 14) | (318,930) | (157,160) | (111,257) |
Proceeds from disposal of investments in associates | 182,604 | 189,118 | 163,649 |
Acquisition of investments in associates | (669,341) | (227,914) | (380,213) |
Proceeds from disposal of investment property (Notes 16 and 43) | 86,422 | 15,433 | 4,869 |
Acquisition of investment property (Note 16) | (2,774) | (115,333) | (2,125) |
Proceeds from disposal of assets held for sale | 137 | 4,498 | 10,466 |
Proceeds from settlement of hedging derivative financial instruments for available-for-sale financial assets | 19,303 | 67,039 | 85,616 |
Payment for settlement of hedging derivative financial instruments for available-for-sale financial assets | (195,900) | (26,653) | (27,629) |
Business combination, net of cash acquired (used) (Notes 50) | (2,246,932) | (4,498) | 83,631 |
Other, net | (264,585) | (311,744) | (10,435) |
Net cash used in investing activities | (22,687,867) | (5,512,585) | (10,703,638) |
Cash flows from financing activities | |||
Issuance of hybrid bonds | 199,476 | 1,107,838 | 224,466 |
Redemption of hybrid bonds | 0 | 0 | (300,000) |
Net increase in borrowings | 5,017,269 | 1,772,203 | 3,047,844 |
Proceeds from debt securities issued | 31,083,390 | 26,487,712 | 20,006,957 |
Repayments of debt securities issued | (19,881,717) | (14,689,246) | (12,222,815) |
Dividends paid | (830,772) | (714,705) | (706,565) |
Proceeds from settlement of hedging derivative financial instruments for debt securities issued | 1,694,362 | 10,675 | 65,220 |
Payment for settlement of hedging derivative financial instruments for debt securities issued | (1,716,320) | (16,832) | (6,509) |
Acquisition of treasury stock | (444,077) | (151,993) | 0 |
Redemption of preferred stock | 0 | 0 | 0 |
Increase in non-controlling interests | 312,390 | 347 | 215,357 |
Redemption of lease liabilities | (269,362) | ||
Issuance of convertible preferred shares | 747,791 | ||
Other, net | (33,619) | 528 | 8,498 |
Net cash provided by financing activities | 15,878,811 | 13,806,527 | 10,332,453 |
Effect of exchange rate fluctuations on cash and cash equivalents held | 29,428 | (30,640) | (46,035) |
Increase (decrease) in cash and cash equivalents | 399,418 | 1,943,106 | 604,114 |
Cash and cash equivalents at beginning of year | 8,179,756 | 6,236,650 | 5,632,536 |
Cash and cash equivalents at end of year | ₩ 8,579,174 | ₩ 8,179,756 | ₩ 6,236,650 |
Reporting entity
Reporting entity | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of reporting entity [Abstract] | |
Reporting entity | 1. Reporting entity Shinhan Financial Group Co., Ltd., the controlling company, and its subsidiaries included in consolidation (collectively the “Group”) are summarized as follows: (a) Controlling company Shinhan Financial Group Co., Ltd. (the “Shinhan Financial Group”), a controlling company, was incorporated on September 1, 2001 for the main purposes of Shinhan Bank, Shinhan Securities Co., Ltd., Shinhan Capital Co., Ltd., and Shinhan BNP Asset Management Co., Ltd. with a stock transfer. The total capital stock amounted to W (b) Ownership of Shinhan Financial Group and its major consolidated subsidiaries as of December 31, 2018 and 2019 are as follows: Date of financial Ownership (%) Investor Investee (*1) Location 2018 2019 Shinhan Financial Group Shinhan Bank Korea December 31 100.0 100.0 ” Shinhan Card Co., Ltd. ” ” 100.0 100.0 ” Shinhan Investment Corp. (*2) ” ” 100.0 100.0 ” Shinhan Life Insurance Co., Ltd. ” ” 100.0 100.0 ” Orange Life Insurance Co., Ltd. (*3) ” ” — 59.2 ” Shinhan Capital Co., Ltd. ” ” 100.0 100.0 ” Jeju Bank (*4) ” ” 71.9 75.3 ” Shinhan Credit Information Co., Ltd. ” ” 100.0 100.0 ” Shinhan Alternative Investment Management Inc. ” ” 100.0 100.0 ” Shinhan BNP Paribas Asset Management Co., Ltd. ” ” 65.0 65.0 ” SHC Management Co., Ltd. ” ” 100.0 100.0 ” Shinhan DS ” ” 100.0 100.0 ” Shinhan Savings Bank ” ” 100.0 100.0 ” Asia Trust Co., Ltd. (*5) ” ” — 60.0 ” Shinhan AITAS Co., Ltd. ” ” 99.8 99.8 ” Shinhan REITs Management Co., Ltd. ” ” 100.0 100.0 ” Shinhan AI Co., Ltd. (*6) ” ” — 100.0 Shinhan Bank Shinhan Asia Limited Hong Kong ” 99.9 99.9 ” Shinhan Bank America USA ” 100.0 100.0 ” Shinhan Bank Europe GmbH Germany ” 100.0 100.0 ” Shinhan Bank Cambodia Cambodia ” 97.5 97.5 ” Shinhan Bank Kazakhstan Limited Kazakhstan December 31 100.0 100.0 ” Shinhan Bank Canada Canada ” 100.0 100.0 ” Shinhan Bank (China) Limited China ” 100.0 100.0 ” Shinhan Bank Japan Japan ” 100.0 100.0 ” Shinhan Bank Vietnam Ltd. Vietnam ” 100.0 100.0 ” Banco Shinhan de Mexico Mexico ” 99.9 99.9 ” PT Bank Shinhan Indonesia Indonesia ” 99.0 99.0 Shinhan Card Co., Ltd. LLP MFO Shinhan Finance Kazakhstan ” 100.0 100.0 ” PT. Shinhan Indo Finance Indonesia ” 50.0 50.0 ” Shinhan Microfinance Co., Ltd. Myanmar ” 100.0 100.0 ” Shinhan Vietnam Finance (*7) Vietnam ” — 100.0 Shinhan Investment Corp. Shinhan Investment Corp. USA Inc. USA ” 100.0 100.0 ” Shinhan Investment Corp. Asia Ltd. Hong Kong ” 100.0 100.0 ” SHINHAN SECURITIES VIETNAM CO., LTD Vietnam ” 100.0 100.0 ” PT. Shinhan Sekuritas Indonesia Indonesia ” 99.0 99.0 PT Shinhan Sekuritas Indonesia PT. Shinhan Asset Management Indonesia ” ” 75.0 75.0 Shinhan BNP Paribas Asset Management Co., Ltd. Shinhan BNP Paribas Asset Management (Hong Kong) Limited Hong Kong ” 100.0 100.0 Shinhan DS SHINHAN DS VIETNAM CO., LTD. Vietnam ” 100.0 100.0 (*1) Trusts, beneficiary certificates, securitization special limited liability companies, associates and private equity investment specialists that are not actually operating their own business are excluded. (*2) The controlling company has participated in issuing additional shares of Shinhan Investment Corp. amounting to W (*3) The Group entered into a share purchase agreement to acquire a 59.15% stake in Orange Life Insurance Co., Ltd. for the years ended December 31, 2018, and the effective stake increased to 60.24% due to the acquisition of treasury shares by Orange Life Insurance Co. Ltd. for the years ended December 31, 2019. (*4) The Group purchased 1,100,000 shares of Jeju Bank from the Group’s largest shareholder, the National Pension Service for the year ended December 31, 2019. (*5) The Group acquired 60.00% stake in Asia Trust Co., Ltd. for the year ended December 31, 2019. (*6) Shinhan AI Co., Ltd. is a subsidiary newly invested for the year ended December 31, 2019. The controlling company has participated in issuing additional shares of Shinhan AI Co., Ltd. shares amounting to W (*7) The Group acquired 100% stake in Vietnam-based Prudential Vietnam Finance Co., Ltd. for the year ended December 31, 2019 and changed the name of corporate to Shinhan Vietnam Finance Co., Ltd. (c) Consolidated structured entities Consolidated structured entities are as follows: Category Consolidated structured entities Description Trust 18 trusts managed by Shinhan Bank including development trust A trust is consolidated when the Group as a trustee is exposed to variable returns, for example, if principle or interest amounts of the entrusted properties falls below guaranteed amount, the Group should compensate it; and the Group has the ability to affect those returns. Asset-Backed Securitization MPC Yulchon Green I and 196 others An entity for asset backed securitization is consolidated when the Group has the ability to dispose assets or change the conditions of the assets, is exposed to variable returns and has the ability to affect the variable returns providing credit enhancement and purchases of subordinated securities. Structured Financing SHPE Holdings One Co., Ltd. An entity established for structured financing relating to real estate, shipping, or mergers and acquisitions is consolidated, when the Group has granted credit to the entity, has sole decision-making authority of these entities due to the entities default, and is exposed to, or has rights to related variable returns. Investment Fund KoFC Shinhan Frontier Champ 2010-4 An investment fund is consolidated, when the Group manages or invests assets of the investment funds on behalf of other investors, or has the ability to dismiss the manager of the investment funds, and is exposed to, or has rights to, the variable returns. (*) The Group provides ABCP credit contribution (purchase agreements) of W |
Basis of preparation
Basis of preparation | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of basis of preparation [Abstract] | |
Basis of preparation | 2. Basis of preparation (a) Statement of compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”). IFRS are the standards and related interpretations issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements were authorized for issue by the Board of Directors on February 5, 2020, which were submitted for approval to the stockholder’s meeting to be held on March 26, 2020. (b) Basis of measurement The consolidated financial statements have been prepared on the historical cost basis, except for the following material items in the statement of financial position: • derivative financial instruments measured at fair value • financial instruments at fair value through profit or loss measured at fair value • other comprehensive income at fair values measured at fair value • liabilities for cash-settled share-based payment arrangements measured at fair value • financial liabilities designated as hedged items in a fair value hedge accounting of which changes in fair value attributable to the hedged risk recognized in profit or loss • liabilities for defined benefit plans recognized at the net of the total present value of defined benefit obligations less the fair value of plan assets (c) Functional and presentation currency These consolidated financial statements are presented in Korean won, which is the Controlling Company’s functional currency and the currency of the primary economic environment in which the Group operates. (d) Use of estimates and judgements The preparation of the consolidated financial statements in conformity with IFRS requires management to Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about critical judgements in applying accounting policies that have a significant effect on the amounts recognized in the consolidated financial statements and information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial year are described in Note 5. In preparing these consolidated financial statements, the significant judgments made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty are the same as those that applied to the consolidated financial statements as of and for the year ended December 31, 2018 except for the main sources of critical judgments and estimated uncertainties related to the adoption of IFRS 16 ‘ Leases (e) Change in accounting policy Except for the following new standard, which has been applied from January 1, 2019, the accounting policies applied by the Group in these consolidated financial statements are the same as those applied by the Group in its consolidated financial statements as of and for the year ended December 31, 2018. There are other new standards applied from January 1, 2019, which does not have a significant impact to the Group’s financial statements. i) IFRS 16, ‘Leases’ IFRS 16, published on May 22, 2017, replaces existing standards including IAS 17, ‘Leases’ ‘Determining whether an Arrangement contains a Lease’ ‘Operating Leases – Incentives’ ’Evaluating the Substance of Transactions Involving the Legal Form of a Lease’ The Group has applied IFRS 16 from the year beginning on January 1, 2019, the date of initial application. At the commencement date of the lease, the Group assesses whether the contract is, or contains, a lease, and assessed whether the contract was, or contained, a lease in accordance with IFRS 16 at the date of initial application. For a contract that is, or contains, a lease, a lessee or a lessor shall account for each lease component within the contract as a lease separately from non-lease ‘non-lease A lessee shall recognize a lease right-of-use • Elects not to apply the requirements to recognize lease right-of-use • Excludes initial direct costs from the measurements of the lease right-of-use • If the contract contains an option to extend or terminate the lease, hindsight is used to determine the lease term As a practical expedient, a lessee may elect, by class of underlying asset, not to separate non-lease non-lease The accounting treatment as a lessor did not change significantly from the one under IAS 17. The accumulated effect on retained earnings from initial application of IFRS 16 was zero, and the comparative financial information presented has applied IAS 17 and the related Interpretations as previously reported and has not been retrospectively restated. The transition effects arising from changes in accounting policies are explained in Note 51. On December 16, 2019, the IFRS Interpretations Committee published the agenda decision on ‘Lease term and useful life of leasehold improvements’ that the entity should consider all economic penalties for the termination of the lease in the determination of the enforceable period. The Group is analyzing the impact of changes in accounting policies of determination of the enforceable period on the consolidated financial statements, and plans to reflect the impact on the consolidated financial statements when the analysis is completed. ii) IFRS 9, ‘Financial Instruments’, IFRS 7, ‘Financial Instruments: Disclosures’ Revision The interest rate index reform has added an exception that allows hedge accounting to be applied while uncertainty exists. In a hedging relationship, the assume that the interest rate index that is the underlying variable of cash flows does not change to the interest rate index reform when reviewing the probability of occurrence and the prospective assessment of the effectiveness of the hedge. For hedges of non-contractually |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of significant accounting policies [Abstract] | |
Significant accounting policies | 3. Significant accounting policies Except for the new standards and the amendment to the following standard, which are applied from January 1, 2019, the accounting policies applied by the Group in these consolidated financial statements are the same as those applied by the Group in its consolidated financial statements as of and for the year ended December 31, 2019 and have mentioned on the note 2. (a) Operating segments An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the Group’s other components, whose operating results are reviewed regularly by the chief operating decision maker to make decisions about resources allocated to each segment and assess its performance, and for which discrete financial information is available. The segment reporting to a chief executive officer includes items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items comprise mainly general expenses and income tax assets and liabilities. The Group considers the Chief Executive Officer (“CEO”) of the Bank as the chief operating decision maker. It is CEO’s responsible for evaluating the resources to be distributed to the business and the performance of the business, and makes strategic decisions. (b) Basis of consolidation i) Subsidiaries Subsidiaries are investees controlled by the Group. The Group controls an investee when it is exposed to, or has rights to, variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. If a member of the Group uses accounting policies other than those adopted in the consolidated financial statements for the same transactions and events in similar circumstances, appropriate adjustments are made to its financial statements in preparing the consolidated financial statements. ii) Structured entity The Group establishes or invests in various structured entities. A structured entity is an entity designed so that its activities are not governed by way of voting rights. When assessing control of a structured entity, the Group considers factors such as the purpose and the design of the investee; its practical ability to direct the relevant activities of the investee; the nature of its relationship with the investee; and the size of its exposure to the variability of returns of the investee. The Group does not recognize any non-controlling non-controlling iii) Intra-group transactions eliminated on consolidation Intra-group balances, transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Intra-group losses are recognized as expense if intra-group losses indicate an impairment that requires recognition in the consolidated financial statements. iv) Non-controlling Non-controlling non-controlling non-controlling (c) Business combinations i) Business combinations A business combination is accounted for by applying the acquisition method, unless it is a combination involving entities or businesses under common control. Each identifiable asset and liability is measured at its acquisition-date fair value except for below: • Leases and insurance contracts are required to be classified on the basis of the contractual terms and other factors • Only those contingent liabilities assumed in a business combination that are a present obligation and can be measured reliably are recognized • Deferred tax assets or liabilities are recognized and measured in accordance with IAS 12, ‘Income Taxes’ • Employee benefit arrangements are recognized and measured in accordance with IAS 19, ‘Employee Benefits’ • Indemnification assets are recognized and measured on the same basis as the indemnified liability or asset • Reacquired rights are measured in accordance with special provisions • Liabilities or equity instruments related to share-based payment transactions are measured in accordance with the method in IFRS 2, ‘Share-based Payment’ • Non-current ‘Non-current As of the acquisition date, non-controlling non-controlling The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the acquirer, the liabilities incurred by the acquirer to former owners of the acquirer and the equity interests issued by the acquirer. However, any portion of the acquirer’s share-based payment awards exchanged for awards held by the acquirer’s employee that is included in consideration transferred in the business combination shall be measured in accordance with the method described above rather than at fair value. Acquisition-related costs are costs the acquirer incurs to effect a business combination. Those costs include finder’s fees; advisory, legal, accounting, valuation and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and costs of registering and issuing debt and equity securities. Acquisition-related costs, other than those associated with the issue of debt or equity securities, which are recognized in accordance with IAS 32 and IFRS 9, are expensed in the periods in which the costs are incurred and the services are received. ii) Goodwill The Group measures goodwill at the acquisition date as: • the fair value of the consideration transferred; plus • the recognized amount of any non-controlling • if the business combination is achieved in stages, the fair value of the pre-existing • the net recognized amount (generally fair value) of the identifiable assets acquired and liabilities assumed. When the excess is negative, a bargain purchase gain is recognized immediately in profit or loss. When the Group additionally acquires non-controlling (d) Investments in associates and joint ventures An associate is an entity in which the Group has significant influence, but not control, over the entity’s financial and operating policies. Significant influence is presumed to exist when the Group holds between 20 and 50 percent of the voting power of another entity. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The investment in an associate and a joint venture is initially recognized at cost, and the carrying amount is increased or decreased to recognize the Group’s share of the profit or loss and changes in equity of the associate and the joint venture after the date of acquisition. Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Intra-group losses are recognized as expense if intra-group losses indicate an impairment that requires recognition in the consolidated financial statements. If an associate or a joint venture uses accounting policies different from those of the Group for like transactions and events in similar circumstances, appropriate adjustments are made to its financial statements in applying the equity method. When the Group’s share of losses exceeds its interest in an equity accounted investee, the carrying amount of that interest, including any long-term investments, is reduced to nil and the recognition of further losses is discontinued except to the extent that the Group has an obligation or has to make payments on behalf of the investee for further losses. (e) Cash and cash equivalents Cash and cash equivalents comprise cash balances and call deposits with original maturities of three months or less from the acquisition date that are subject to an insignificant risk of changes in their fair value, and are used by the Group in the management of its short-term commitments. Equity instruments are excluded from cash equivalents unless they are, in substance, cash equivalents, for example in the case of preferred shares acquired within a short period of their maturity and with a specified redemption date. However, the Group’s account overdraft is included in borrowings. (f) Non-derivative Financial assets are recognized when the Group becomes a party to the contractual provisions of the instrument. In addition, a regular way purchase or sale (a purchase or sale of a financial asset under a contract whose terms require delivery of the asset within the time frame established generally by regulation or convention in the market concerned) is recognized on the trade date. A financial asset is measured initially at its fair value plus, for an item not at Fair Value Through Profit or Loss (“FVTPL”), transaction costs that are directly attributable to its acquisition of the financial asset. Transaction costs on the financial assets at FVTPL that are directly attributable to the acquisition are recognized in profit or loss as incurred. i) Financial assets designated at FVTPL Financial assets can be irrevocably designated as measured at FVTPL despite of classification standards stated below, if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise from measuring assets or liabilities or recognizing the gains or losses on them on different bases. ii) Equity instruments For the equity instruments that are not held for trading, at initial recognition, the Group may make an irrevocable election to present subsequent changes in fair value in other comprehensive income. Equity instruments that are not classified as financial assets at Fair Value through Other Comprehensive Income (“FVOCI”) are classified as financial assets at FVTPL. The Group subsequently measures all equity investments at fair value. Valuation gains or losses of the equity instruments that are classified as financial assets at FVOCI previously recognized as other comprehensive income is not reclassified as profit or loss on derecognition. The Group recognizes dividends in profit or loss when the Group’s right to receive payments of the dividend is established. Valuation gains or losses due to changes in fair value of the financial assets at FVTPL are recognized as gains or losses on financial assets at FVTPL. Impairment loss (reversal) on equity instruments at FVOCI is not recognized separately. iii) Debt instruments Subsequent measurement of debt instruments depends on the Group’s business model in which the asset is managed and the contractual cash flow characteristics of the asset. Debt instruments are classified as financial assets at amortized cost, at FVOCI, or at FVTPL. Debt instruments are reclassified only when the Group’s business model changes. ① Financial assets at amortized cost Assets that are held within a business model whose objective is to hold assets to collect contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. Impairment losses, and gains or losses on derecognition of the financial assets at amortized cost are recognized in profit or loss. Interest income on the effective interest method is included in the ‘Interest income’ in the consolidated statement of comprehensive income. ② Financial assets at FVOCI Assets that are held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Other than impairment losses, interest income amortized using effective interest method and foreign exchange differences, gains or losses of the financial assets at FVOCI are recognized as other comprehensive income in equity. On derecognition, gains or losses accumulated in other comprehensive income are reclassified to profit or loss. The interest income on the effective interest method is included in the ‘Interest income’ in the consolidated statement of comprehensive income. Foreign exchange differences and impairment losses are included in the ‘Net foreign currency transaction gain’ and ‘Provision for allowance for credit loss’ in the consolidated statement of comprehensive income, respectively. ③ Financial assets at FVTPL Debt securities other than financial assets at amortized costs or FVOCI are classified at FVTPL. Unless hedge accounting is applied, gains or losses from financial assets at FVTPL are recognized as profit or loss and are included in ‘Net gain on financial assets at fair value through profit or loss’ in the consolidated statement of comprehensive income. iv) Embedded derivatives Financial assets with embedded derivatives are classified regarding the entire hybrid contract, and the embedded derivatives are not separately recognized. The entire hybrid contract is considered when it is determined whether the contractual cash flows represent solely payments of principal and interest. v) Derecognition of financial assets The Group derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Any interest in transferred financial assets that is created or retained by the Group is recognized as a separate asset or liability. If the Group retains substantially all the risks and rewards of ownership of the transferred financial assets, the Group continues to recognize the transferred financial assets and recognizes financial liabilities for the consideration received. vi) Offsetting Financial assets and financial liabilities are offset and the net amount is presented in the consolidated statement of financial position only when the Group currently has a legally enforceable right to set off the recognized amounts, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. (g) Non-derivative The Group recognizes and measures non-derivative held-to-maturity available-for-sale Upon initial recognition, non-derivative i) Financial assets at fair value through profit or loss A financial asset is classified as at fair value through profit or loss if it is held for trading or is designated at fair value through profit or loss. Upon initial recognition, transaction costs are recognized in profit or loss when incurred. Financial assets at fair value through profit or loss are measured at fair value, and changes therein are recognized in profit or loss. A financial asset other than a financial asset held for trading may be designated as at FVTPL upon initial recognition if: • such designation eliminates or significantly reduces a recognition or measurement inconsistency that would otherwise arise; or • the financial asset forms part of a group of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Group’s documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or • it forms part of a contract containing one or more embedded derivatives that would be required to be separated from the host contract. ii) Held-to-maturity A non-derivative held-to-maturity held-to-maturity iii) Loans and receivables Loans and receivables are financial assets with fixed or determinable payments that are not quoted in an active market. Subsequent to initial recognition, loans and receivables are measured at amortized cost using the effective interest method. iv) Available-for-sale Available-for-sale non-derivative available-for-sale held-to-maturity v) De-recognition The Group derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Any interest in transferred financial assets that is created or retained by the Group is recognized as a separate asset or liability. If the Group retains substantially all the risks and rewards of ownership of the transferred financial assets, the Group continues to recognize the transferred financial assets and recognizes financial liabilities for the consideration received. vi) Offsetting between financial assets and financial liabilities Financial assets and financial liabilities are offset and the net amount is presented in the consolidated statement of financial position only when the Group currently has a legally enforceable right to offset the recognized amounts, and there is the intention to settle on a net basis or to realize the asset and settle the liability simultaneously. (h) Derivative financial instruments – policy applicable from January 1, 2018 Derivatives are initially recognized at fair value. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are accounted for as described below. i) Hedge accounting The Group holds forward exchange contracts, interest rate swaps, currency swaps and other derivative contracts to manage interest rate risk and foreign exchange risk. The Group designated derivatives as hedging instruments to hedge the risk of changes in the fair value of assets, liabilities or firm commitments (a fair value hedge) and foreign currency risk of highly probable forecasted transactions or firm commitments (a cash flow hedge). On initial designation of the hedge, the Group formally documents the relationship between the hedging instrument(s) and hedged item(s), including the risk management objectives and strategy in undertaking the hedge transaction, together with the methods that will be used to assess the effectiveness of the hedging relationship. ① Fair value hedge Changes in the fair value of a derivative hedging instrument designated as a fair value hedge are recognized in profit or loss. The gain or loss from remeasuring the hedging instrument at fair value for a derivative hedging instrument and the gain or loss on the hedged item attributable to the hedged risk are recognized in profit or loss in the same line item of the separate statement of comprehensive income. The Group discontinues fair value hedge accounting if the hedging instrument expires or is sold, terminated or exercised, or if the hedge no longer meets the criteria. Any adjustment arising from G/L on the hedged item attributable to the hedged risk is amortized to profit or loss from the date the hedge accounting is discontinued. ② Cash flow hedge When a derivative is designated to hedge the variability in cash flows attributable to a particular risk associated with a recognized asset or liability or a highly probable forecasted transaction that could affect profit or loss, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income, net of tax, and presented in the hedging reserve in equity. Any ineffective portion of changes in the fair value of the derivative is recognized immediately in profit or loss. If the hedging instrument no longer meets the criteria for hedge accounting, expires or is sold, terminated, exercised, or the designation is revoked, then hedge accounting is discontinued prospectively. The cumulative gain or loss on the hedging instrument that has been recognized in other comprehensive income is reclassified to profit or loss in the periods during which the forecasted transaction occurs. If the forecasted transaction is no longer expected to occur, then the balance in other comprehensive income is recognized immediately in profit or loss. ③ Net investment hedge The portion of the change in fair value of a financial instrument designated as a hedging instrument that meets the requirements for hedge accounting for a net investment in a foreign operation is recognized in other comprehensive income and the ineffective portion of the hedge is recognized in profit or loss Recognize. The portion recognized as other comprehensive income that is effective as a hedge is recognized in the statement of comprehensive income as a result of reclassification adjustments in accordance with IAS 21, “Effect of Changes in Foreign Exchange Rates” at the time of disposing of its overseas operations or disposing of a portion of its overseas operations To profit or loss. ii) Other derivative financial instruments Changes in the fair value of other derivative financial instrument not designated as a hedging instrument are recognized immediately in profit or loss. iii) Unobservable valuation differences at initial recognition Any difference between the fair value of over the counter derivatives at initial recognition and the amount that would be determined at that date using a valuation technique in a situation in which the valuation is dependent on unobservable parameters is not recognized in profit or loss but is recognized on a straight-line basis over the life of the instrument or immediately when the fair value becomes observable. (i) Derivative financial instruments – policy applicable before January 1, 2018 Derivatives are initially recognized at fair value. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are accounted for as described below. i) Hedge accounting The Group holds forward exchange contracts, interest rate swaps, currency swaps and other derivative contracts to manage interest rate risk and foreign exchange risk. The Group designated derivatives as hedging instruments to hedge the risk of changes in the fair value of assets, liabilities or firm commitments (a fair value hedge) and foreign currency risk of highly probable forecasted transactions or firm commitments (a cash flow hedge). On initial designation of the hedge, the Group formally documents the relationship between the hedging instrument(s) and hedged item(s), including the risk management objectives and strategy in undertaking the hedge transaction, together with the methods that will be used to assess the effectiveness of the hedging relationship. • Fair value hedge • Cash flow hedge • Hedge of net investment ii) Separable embedded derivatives Embedded derivatives are separated from the host contract and accounted for separately only if the following criteria has been met: (a) the economic characteristics and risks of the embedded derivative are not closely related to those of the host contract; (b) a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and (c) the hybrid instrument is not measured at fair value with changes in fair value recognized in profit or loss. Changes in the fair value of separable embedded derivatives are recognized immediately in profit or loss. iii) Other derivative financial instruments Changes in the fair value of other derivative financial instrument not designated as a hedging instrument are recognized immediately in profit or loss. iv) Unobservable valuation differences at initial recognition Any difference between the fair value of over the counter derivatives at initial recognition and the amount that would be determined at that date using a valuation technique in a situation in which the valuation is dependent on unobservable parameters is not recognized in profit or loss but is recognized on a straight-line basis over the life of the instrument or immediately when the fair value becomes observable. (j) Impairment: Financial assets and contract assets – policy applicable from January 1, 2018 The Group recognizes allowance for credit loss for debt instruments measured at amortized cost and fair value through other comprehensive income, and lease receivable, loan commitments and financial guarantee contracts using the expected credit loss impairment model. Financial assets migrate through the following three stages based on the change in credit risk since initial recognition and allowance for credit loss for the financial assets are measured at the 12-month Category Allowance for credit loss STAGE 1 When credit risk has not increased significantly since the initial recognition 12-months STAGE 2 When credit risk has increased significantly since the initial recognition Lifetime ECL: a lifetime ECL associated with the probability of default events occurring over the remaining lifetime STAGE 3 When assets are impaired Same as above The Group, meanwhile, only recognizes the cumulative changes in lifetime expected credit losses since the initial recognition as an allowance for credit loss for purchased or originated credit-impaired financial assets. The total period refers to the expected life span of the financial instrument up to the contract expiration date. i) Reflection of forward-looking information The Group reflects forward-looking information presented by internal experts based on a variety of information when measuring expected credit losses. For the purpose of estimating these forward-looking information, the Group utilizes the economic outlook published by domestic and overseas research institutes or government and public agencies. The Group reflects future macroeconomic conditions anticipated from a neutral standpoint that is free from bias in measuring expected credit losses. Expected credit losses in this respect reflect conditions that are most likely to occur and are based on the same assumptions that the Group used in its business plan and management strategy. ii) Measurement of amortization cost regarding the expected credit loss of financial assets The expected credit loss of an amortized financial asset is measured as the difference between the present value of the cash flows expected to be received and the cash flow expected to be received. For this purpose, we calculate expected cash flows for individually significant financial assets. For non-individual Expected credit losses are deducted using the allowance for credit loss account and are written off if the financial assets were not recoverable. The allowance for credit loss is increased when the written-off iii) Measurement of estimated credit loss of financial assets at FVOCI The calculation of expected credit losses is the same as for financial assets measured at amortized cost, but changes in allowance for credit loss are recognized in other comprehensive income. In the case of disposal and redemption of other comprehensive income – fair value, the allowance for credit loss is reclassified from other comprehensive income to profit or loss and recognized in profit or loss. (k) Impairment: Financial assets and contract assets – policy applicable before January 1, 2018 A financial asset not carried at fair value through profit or loss is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably. However, losses expected as a result of future events, regardless of likelihood, are not recognized. In addition, for an investment in an equity security, a significant or prolonged decline in its fair value below its cost is objective evidence of impairment. If financial assets have objective evidence that they are impaired, impairment losses should be measured and recognized. Objective evidence that a financial asset or group of assets is impaired includes observable data that comes to the attention of the holder of the asset about the following loss events: • significant financial difficulty of the issuer or obligor • a breach of contract, such as a default or delinquency in interest or principal payments; • the lender, for economic or legal reasons relating to the borrower’s financial difficulty, granting to the borrower a concession that the lender would not otherwise consider • it becoming probable that the borrower will enter bankruptcy or other financial reorganization • the disappearance of an active market for that financial asset because of financial difficulties • observable data indicating that there is a measurable decrease in the estimated future cash flows from a group of financial assets since the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the group. i) Loans and receivables The Group first assesses whether objective evidence of impairment exists individually for loans and receivables that are individually significant, and individually or collectively for financial assets that are not individually significant. If the Group determines that no objective evidence of impairment exists for an individually assessed financial asset, whether significant or not, it includes the asset in a group of financial assets with similar credit risk characteristics and collectively assesses them for impairment. Assets that are individually assessed for impairment and for which an impairment loss is or continues to be recognized are not included in a collective assessment of impairment. If there is objective evidence that an impairment loss on loans and receivables has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the financial asset’s original effective interest rate (i.e., the effective interest rate computed at initial recognition). If the interest rate of a loan or receivable is a floating rate, the discount rate used to evaluate impairment loss is the current effective interest rate defined in the loan agreement. The present value of estimated future cash flows of secured financial assets is calculated by including cash flows from collateral after deducting costs to acquire and sell the collateral. In assessing collective impairment, the Group rates and classifies financial assets, based on credit risk assessment or credit rating assessment process that takes into account asset type, industry, regional location, collateral type, delinquency and other relative factors. Future cash flow of financial assets applicable to collective impairment assessment is estimated by using statistical modelling of historical trends of the probability of default, timing of recoveries and the amount of loss incurred, adjusted for management’s judgment as to whether current economic and credit conditions are such that the impairment losses are likely to be greater or less than suggested by historical modelling. In adjusting the future cash flow by historical modelling, the result has to be in line with changes and trends of observable data. Methodologies and assumptions used to estimate future cash flow are evaluated on a regular basis in order to reduce any discrepancy between impairment loss estimation and actual loss. Impairment losses are recognized in profit or loss and reflected in an allowance account against loans and receivables. When a subsequent event causes the amount of impairment loss to decrease, and the decrease can be related objectively to an event occurring after the impairment was recognized, the decrease in impairment loss is reversed through profit or loss of the year. ii) Available-for-sale When a decline in the fair value of an available-for-sale available-for-sale available-for-sale iii) Held-to-maturity An impairment loss in respect of held-to-maturity (l) Property and equipment Property and equipment are initially measured at cost and after initial recognition. The cost of property and equipment includes expenditures arising directly from the construction or acquisition of the asset, any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management and the initial estimate of the costs of |
Financial risk management
Financial risk management | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of financial risk management [Abstract] | |
Financial risk management | 4. Financial risk management (a) Overview As a financial services provider, Shinhan Financial Group Co., Ltd. and its subsidiaries (collectively the “Group”) are exposed to various risks relating to lending, credit card, insurance, securities investment, and trading and leasing businesses, its deposit taking and borrowing activities in addition to the operating environment. The principal risks to which the Group is exposed are credit risk, market risk, interest rate risk, liquidity risk and operational risk. These risks are recognized, measured and reported in accordance with risk management guidelines established at the Group level and implemented at the subsidiary level through a carefully stratified checks-and-balances i) Risk management principles The Group risk management is guided by the following core principles: • identifying and managing all inherent risks; • standardizing risk management process and methodology; • ensuring supervision and control of risk management independent of business activities; • continuously assessing risk preference; • preventing risk concentration; • operating a precise and comprehensive risk management system including statistical models; and • balancing profitability and risk management through risk-adjusted profit management. ii) Risk management organization The Group risk management system is organized along with the following hierarchy: from the top and at the Group level, the Group Risk Management Committee, the Group Risk Management Council, the Chief Risk Officer and the Group Risk Management Team, and at the subsidiary level, the Risk Management Committees and the Risk Management Team of the relevant subsidiary. The Group Risk Management Committee, which is under the supervision of the controlling company’s Board of Directors, sets the basic group wide risk management policies and strategies. The controlling company’s Chief Risk Officer reports to the Group Risk Management Committee, and the Group Risk Management Council, whose members consist of the controlling company’s Chief Risk Officer and the risk management team heads of each of subsidiaries, coordinates the risk management policies and strategies at the group level as well as at the subsidiary level among each of subsidiaries. Each of subsidiaries also has a separate Risk Management Committee, Risk Management Working Committee and Risk Management Team, whose tasks are to implement the group wide risk management policies and strategies at the subsidiary level as well as to set risk management policies and strategies specific to such subsidiary in line with the group wide guidelines. The Group also has the Group Risk Management Team, which supports the controlling company’s Chief Risk Officer in his or her risk management and supervisory role. In order to maintain the group wide risk at an appropriate level, the Group use a hierarchical risk limit system under which the Group Risk Management Committee assigns reasonable risk limits for the entire group and each of subsidiaries, and the Risk Management Committee and the Risk Management Council of each of subsidiaries manage the subsidiary-specific risks by establishing and managing risk limits in more details by type of risk and type of product for each department and division within such subsidiary. Shinhan Financial Group has a hierarchical limit system to manage the risks of the Group to an appropriate level. The Group Risk Management Committee sets the risk limits that can be assumed by the Group and its subsidiaries, while the Risk Management Committee and the Committee of each subsidiary set and manages detailed risk limits such as risk, department, desk and product types. ① Group Risk Management Committee The Group establish the risk management system for the Group and each of its subsidiaries, and comprehensively manage group risk-related matters such as establishing risk policies, limits, and approvals. The Committee consists of directors of the Group The resolution of the Committee is as follows: • Establish risk management basic policy in line with management strategy • Determine the level of risk that can be assumed by the Group and each subsidiary • Appropriate investment limit or loss allowance limit • Enacted and revised the Group Risk Management Regulations and the Group Risk Council Regulations • Matters concerning risk management organization structure and division of duties • Matters concerning the operation of the risk management system; • Matters concerning the establishment of various limits and approval of limits • Decisions on approval of the FSS’s internal rating law for non-retail • Matters concerning risk disclosure policy • Analysis of crisis situation, related capital management plan and financing plan • Matters deemed necessary by the board of directors • Materials required by external regulations such as the Financial Services Commission and other regulations and guidelines • Matters deemed necessary by the Chairman The resolution of the Group Risk Management Committee is reported to the Board of Directors. ② Group Risk Management Council In order to maintain the Group’s risk policy and strategy consistently, the Group decides what is necessary to discuss the risks of the Group and to carry out the policies set by the Group Risk Management Committee. The members are chaired by the group’s risk management officer and consist of the risk management officers of major subsidiaries. However, if the subsidiary’s risk management officer is not an executive, the chief executive officer of risk management may attend. iii) Group Risk Management System ① Management of the risk capital Risk capital refers to the capital required to compensate for the potential loss (risk) if it is actually realized. Risk capital management refers to the management of the risk assets considering its risk appetite, which is a datum point on the level of risk burden compared to available capital, so as to maintain the risk capital at an appropriate level. The Group and subsidiaries establish and operate a risk planning process to reflect the risk plan in advance when establishing financial and business plans for risk capital management, and establish a risk limit management system to control risk to an appropriate level. ② Risk Monitoring In order to proactively manage risks by periodically identifying risk factors that can affect the group’s business environment, the Group has established a multi-dimensional risk monitoring system. Each subsidiary is required to report to the Group on key issues that affect risk management at the group level. The Group prepares weekly, monthly and occasional monitoring reports to report to Group management including the CRO. In addition, the Risk Dash Board is operated to derive abnormal symptoms through three-dimensional monitoring of major portfolios, increased risks, and external environmental changes (news) of assets for each subsidiary. If necessary, the Group take preemptive risk management to establish and implement countermeasures. ③ Risk Reviewing When conducting new product / new business and major policy changes, risk factors are reviewed by using a pre-defined ④ Risk management The Group maintain a group wide risk management system to detect the signals of any risk crisis and, in the event of a crisis actually happening, to respond on a timely, efficient and flexible basis so as to ensure the Group’s survival as a going concern. Each subsidiary maintains crisis planning for three levels of contingencies, namely, “alert”, “imminent crisis” and “crisis”, determination of which is made based on quantitative and qualitative monitoring and consequence analysis, and upon the happening of any such contingency, is required to respond according to a prescribed contingency plan. At the controlling company level, the Group maintains and installs crisis detection and response system which is applied consistently group wide, and upon the happening of any contingency at two or more subsidiary level, the Group directly takes charge of the situation so that the Group manages it on a concerted group wide basis. (b) Credit risk Credit risk is the risk of potential economic loss that may be caused if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and the largest risk which the Group is facing. The Group’s credit risk management encompasses all areas of credit that may result in potential economic loss, including not just transactions that are recorded on balance sheets, but also off-balance-sheet • Credit Risk Management of Shinhan Bank Major policies for Shinhan Bank’s credit risk management, including Shinhan Bank’s overall credit risk management plan and credit policy guidelines, are determined by the Risk Policy Committee of Shinhan Bank, the executive decision-making body for management of credit risk. The Risk Policy Committee is headed by the Chief Risk Officer, and also comprises of the Chief Credit Officer, the heads of each business unit and the head of the Risk Management Department. In order to separate the loan approval functions from credit policy decision-making, Shinhan Bank has a Credit Review Committee that performs credit review evaluations, which focus on improving the asset quality and profitability from the loans being made, and operates separately from the Risk Policy Committee. Shinhan Bank complies with credit risk management procedures pursuant to internal guidelines and regulations and continually monitors and improves these guidelines and regulations. Its credit risk management procedures include: • credit evaluation and approval; • credit review and monitoring; and • credit risk assessment and control Each of Shinhan Bank’s borrowers is assigned a credit rating, which is based on a comprehensive internal credit evaluation system that considers a variety of criteria. For retail borrowers, the credit rating takes into account the borrower’s past dealings with Shinhan Bank and external credit rating information, among others. For corporate borrowers, the credit rating takes into account financial indicators as well as non-financial Loans are generally approved after evaluations and approvals by the manager at the branch level as well as the committee of the applicable business unit at Shinhan Bank. The approval limit for retail loans is made based on Shinhan Bank’s automated credit scoring system. In the case of large corporate loans, approval limits are also reviewed and approved by a Credit Officer at the headquarter level. Depending on the size and the importance of the loan, the approval process is further reviewed by the Credit Officer Committee or the Master Credit Officer Committee. If the loan is considered, further evaluation is made by the Credit Review Committee, which is Shinhan Bank’s highest decision-making body in relation to credit approval. Pursuant to the foregoing credit review and monitoring procedures and in order to promptly prevent deterioration of loan qualities, Shinhan Bank classifies potentially problematic borrowers into (i) borrowers that show early warning signals, (ii) borrowers that require close monitoring and (iii) normal borrowers, and treats them differentially accordingly. In order to maintain portfolio-level credit risk at an appropriate level, Shinhan Bank manages its loans using value-at-risk • Credit Risk Management of Shinhan Card Major policies for Shinhan Card’s credit risk management are determined by Shinhan Card’s Risk Management Council and Shinhan Card’s Risk Management Committee is responsible for approving them. Shinhan Card’s Risk Management Council is headed by the Chief Risk Officer, and also comprises of the heads of each business unit, supporting unit and relevant department at Shinhan Card. In order to separate credit policy decision-making from credit evaluation functions, Shinhan Card also has a Risk Management Committee, which evaluates applications for corporate loans exceeding a certain amount and other loans deemed important. Shinhan Card uses an automated credit scoring system to approve credit card applications or credit card authorizations. The credit scoring system is divided into two sub-systems: If a credit score awarded to an applicant is above a minimum threshold, the application is approved unless overridden based on other considerations such as delinquencies with other credit card companies. Shinhan Card continually monitors all accountholders and accounts using a behaviour scoring system. The behaviour scoring system predicts a cardholder’s payment pattern by evaluating the cardholder’s credit history, card usage and amounts, payment status and other relevant data. The behaviour score is recalculated each month and is used to manage the accounts and approval of additional loans and other products to the cardholder. Shinhan Card also uses the scoring system to monitor its overall risk exposure and to modify its credit risk management strategy. i) Techniques, assumptions and input variables used to measure impairment i-1) At each reporting date, the Group assesses whether the credit risk on a financial instrument has increased significantly since initial recognition. When making the assessment, the Group uses the change in the risk of a default occurring over the expected life of the financial instrument instead of the change in the amount of expected credit losses. To make that assessment, the Group compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition and consider reasonable and supportable information, that is available without undue cost or effort, that is indicative of significant increases in credit risk since initial recognition. i-1-1) The Group assigns an internal credit risk rating to each individual exposure based on observable data and historical experiences that have been found to have a reasonable correlation with the risk of default. The internal credit risk rating is determined by considering both qualitative and quantitative factors that indicate the risk of default, which may vary depending on the nature of the exposure and the type of borrower. i-1-2) The Group accumulates information after analyzing the information regarding exposure to credit risk and default information by the type of product and borrower and results of internal credit risk assessment. For some portfolios, the Group uses information obtained from external credit rating agencies when performing these analyses. The Group applies statistical techniques to estimate the probability of default for the remaining life of the exposure from the accumulated data and to estimate changes in the estimated probability of default over time. i-1-3) The Group uses the indicators defined as per portfolio to determine the significant increase in credit risk and such indicators generally consist of changes in the risk of default estimated from changes in the internal credit risk rating, qualitative factors, days of delinquency, and others. The method used to determine whether credit risk of financial instruments has significantly increased after the initial recognitions is summarized as follows: Corporate exposures Retail exposures Card exposures Significant change in credit ratings Significant change in credit ratings Significant change in credit ratings Continued past due more than 30 days Continued past due more than 30 days Continued past due more than 7 days (personal card) Loan classification of and below precautionary Loan classification of and below precautionary Loan classification of and below precautionary Borrower with early warning signals Borrower with early warning signals Specific pool segment Negative net assets Specific pool segment Adverse audit opinion or disclaimer of opinion Loans relating to constructor whose collective loans are insolvent Interest coverage ratios of below 1 for consecutive three years Negative cash flows from operating activities for consecutive two years The Group considers the credit risk of financial instrument has been significantly increased since initial recognition if a specific exposure is past due more than 30 days (however, for a specific portfolio if it is past due more than 7 days). The Group counts the number of days past due from the earliest date on which the Group has not fully received the contractual payments from the borrower and does not consider the grace period granted to the borrower. The Group regularly reviews the criteria for determining if there have been significant increases in credit risk from the following perspective. • A significant increase in credit risk shall be identified prior to the occurrence of default. • The criteria established to judge the significant increase in credit risk shall have a more predictive power than the criteria for days of delinquency. • As a result of applying the judgment criteria, financial instruments shall not be to move too frequently between the 12-months i-2) If the contractual cash flows on a financial asset have been renegotiated or modified and the financial asset was not derecognized, the Group assesses whether there has been a significant increase in the credit risk of the financial instrument by comparing the risk of a default occurring at initial recognition based on the original, unmodified contractual terms and the risk of a default occurring at the reporting date based on the modified contractual terms. The Group may adjust the contractual cash flows of loans to customers who are in financial difficulties in order to manage the risk of default and enhance the collectability (hereinafter referred to as ‘debt restructuring’). These adjustments generally involve extension of maturity, changes in interest payment schedule, and changes in other contractual terms. Debt restructuring is a qualitative indicator of a significant increase in credit risk and the Group recognizes lifetime expected credit losses for the exposure expected to be the subject of such adjustments. If a borrower faithfully makes payments of contractual cash flows that were modified in accordance with the debt restructuring or if the borrower’s internal credit rating has recovered to the level prior to the recognition of the lifetime expected credit losses, the Group recognizes the 12-months i-3) The Group considers a financial asset to be in default if it meets one or more of the following conditions: • If a borrower is overdue 90 days or more from the contractual payment date, • If the Group judges that it is not possible to recover principal and interest without enforcing the collateral on a financial asset The Group uses the following indicators when determining whether a borrower is in default: • Qualitative factors (e.g. breach of contract terms), • Quantitative factors (e.g. if the same borrower does not perform more than one payment obligations to the Group, the number of days past due per payment obligation. However, in the case of a specific portfolio, the Group uses the number of days past due for each financial instrument) • Internal data and external data The definition of default applied by the Group generally conforms to the definition of default defined for regulatory capital management purposes; however, depending on the situations, the information used to determine whether a default has incurred and the extent thereof may vary. i-4) The Group reflects forward-looking information presented by internal experts based on a variety of information when measuring expected credit losses. For the purpose of estimating these forward-looking information, the Group utilizes the economic outlook published by domestic and overseas research institutes or government and public agencies. The Group reflects future macroeconomic conditions anticipated from a neutral standpoint that is free from bias in measuring expected credit losses. Expected credit losses in this respect reflect conditions that are most likely to occur and are based on the same assumptions that the Group used in its business plan and management strategy. The Group identified the key macroeconomic variables needed to forecast credit risk and credit losses for each portfolio as follows by analyzing past experience data and drew correlations across credit risk for each variable. Key macroeconomic variables Correlation with credit risk Economic growth Negative Consumer price index Positive Benchmark rate Positive 3-year Positive 3-year Positive KOSPI Negative The predicted correlations between the macroeconomic variables and the risk of default, used by the Group, were derived based on data from the past nine years. i-5) Key variables used in measuring expected credit losses are as follows: • Probability of default (“PD”) • Loss given default (“LGD”) • Exposure at default (“EAD”) These variables have been estimated from historical experience data by using the statistical techniques developed internally by the Group and have been adjusted to reflect forward-looking information. Estimates of PD over a specified period are estimated by reflecting characteristics of counterparties and their exposure, based on a statistical model at a specific point of time. The Group uses its own information to develop a statistical credit assessment model used for the estimation, and additional information observed in the market is considered for some portfolios such as a group of large corporates. When a counterparty or exposure is concentrated in specific grades, the method of measuring PD for that grades would be adjusted, and the PD by grade is estimated by considering contract expiration of the exposure. LGD refers to the expected loss if a borrower defaults. The Group calculates LGD based on the experience recovery rate measured from past default exposures. The model for measuring LGD is developed to reflect type of collateral, seniority of collateral, type of borrower, and cost of recovery. In particular, LGD for retail loan products uses loan to value (LTV) as a key variable. The recovery rate reflected in the LGD calculation is based on the present value of recovery amount, discounted at the effective interest rate. EAD refers to the expected exposure at the time of default. The Group derives EAD reflecting a rate at which the current exposure is expected to be used additionally up to the point of default within the contractual limit. EAD of financial assets is equal to the total carrying amount of the asset, and EAD of loan commitments or financial guarantee contracts is calculated as the sum of the amount expected to be used in the future. When measuring expected credit losses on financial assets, the Group reflects a period of expected credit loss measurement based on a contractual maturity. The Group takes into consideration of the extension rights held by a borrower when deciding the contractual maturity. Risk factors of PD, LGD and EAD are collectively estimated according to the following criteria: • Type of products • Internal credit risk rating • Type of collateral • Loan to value (LTV) • Industry that the borrower belongs to • Location of the borrower or collateral • Days of delinquency The criteria classifying groups is periodically reviewed to maintain homogeneity of the group and adjusted if necessary. The Group uses external benchmark information to supplement internal information for a particular portfolio that did not have sufficient internal data accumulated from the past experience. i-6) Write-off The Group writes off a portion of or entire loan or debt security that is not expected to receive its principal and interest. In general, the Group conducts write-off write-off write-off, write-off ii) Maximum exposure to credit risk Exposure to credit risk is the exposure related to due from banks, loans, investments in debt securities, derivative transactions, off-balance The Group’s maximum exposure to credit risk without taking into account of any collateral held or other credit enhancements as of December 31, 2018 and December 31, 2019 are as follows: 2018 2019 Due from banks and loans at amortized cost (*1)(*2): Banks W 17,935,816 12,950,561 Retail 136,499,558 152,840,826 Government 6,517,215 19,461,567 Corporations 131,795,992 140,718,619 Card receivable 21,592,287 23,114,264 314,340,868 349,085,837 Deposits and loans at FVTPL (*1)(*2) Bank 890,660 897,525 Corporations 1,189,190 2,154,821 2,079,850 3,052,346 Securities measured at FVTPL (*3) 40,289,846 48,512,857 Securities measured at fair value – OCI 37,677,646 58,573,094 Securities measured at amortized cost 28,478,136 45,582,065 Derivative assets 1,793,613 2,829,274 Other financial assets (*1)(*4) 16,837,141 17,477,778 Financial guarantee contracts 4,413,874 4,698,558 Loan commitments and other credit liabilities 165,399,937 177,660,547 W 611,310,911 707,472,356 (*1) The maximum exposure amounts for due from banks, loans and other financial assets at amortized cost are recorded as net of allowances. (*2) Due from banks and loans were classified as similar credit risk group when calculating the BIS ratio under new Basel Capital Accord (Basel III). (*3) Financial asset at fair value through profit or loss comprise debt securities at fair value through profit of loss, gold deposits. (*4) Other financial assets mainly comprise brokerage, securities and spot transaction related receivables, accrued interest receivables, secured key money deposits and domestic exchange settlement debit settled in a day. iii) The maximum amount of exposure to credit risk by type of collateral of held financial instruments as of December 31, 2018 and 2019 is as follows: 2018 12 months Life time expected credit loss Total Classification Not recognized Recognized Guarantee W 13,608,254 3,870,047 61,623 17,539,924 Deposits and Savings 1,016,391 241,567 1,379 1,259,337 Property and equipment 1,051,573 244,571 18,766 1,314,910 Real estate 119,174,347 13,856,638 281,943 133,312,928 Securities 3,460,263 105,397 — 3,565,660 Other 2,593,792 28 218 2,594,038 Total W 140,904,620 18,318,248 363,929 159,586,797 2019 12 months Life time expected credit loss Total Classification Not recognized Recognized Guarantee W 12,232,197 3,756,006 64,386 16,052,589 Deposits and Savings 1,058,353 266,407 2,437 1,327,197 Property and equipment 1,021,002 307,502 12,840 1,341,344 Real estate 128,098,318 14,932,637 370,361 143,401,316 Securities 3,340,337 137,105 — 3,477,442 Other 5,035,192 4,437 364 5,039,993 Total W 150,785,399 19,404,094 450,388 170,639,881 iv) Impairment information by credit risk of financial assets • Allowance for credit loss of financial assets as of December 31, 2018 and 2019 are as follows: 2018 12 months expected credit loss Life time expected credit loss Total Allowances Net Mitigation of due to Grade 1 (*1) Grade 2 (*1) Grade 1 (*1) Grade 2 (*1) Impaired Due from banks and loans at amortized cost: Banks W 16,873,064 980,673 94,866 11,493 — 17,960,096 (24,280 ) 17,935,816 55,008 Retail 122,318,451 6,122,202 4,991,709 3,103,779 402,975 136,939,116 (439,558 ) 136,499,558 81,216,489 Government 6,474,219 2,399 45,871 — — 6,522,489 (5,274 ) 6,517,215 17,050 Corporations 82,476,923 28,445,914 9,800,260 11,659,375 882,394 133,264,866 (1,468,874 ) 131,795,992 74,069,579 Card receivable 16,129,536 2,022,525 1,791,147 2,039,390 411,595 22,394,193 (801,906 ) 21,592,287 7,599 244,272,193 37,573,713 16,723,853 16,814,037 1,696,964 317,080,760 (2,739,892 ) 314,340,868 155,365,725 Securities at fair value through other comprehensive income (*2) 30,705,879 6,865,937 — 105,830 — 37,677,646 — 37,677,646 — Securities at amortized cost 27,661,749 803,174 22,474 — — 28,487,397 (9,261 ) 28,478,136 — W 302,639,821 45,242,824 16,746,327 16,919,867 1,696,964 383,245,803 (2,749,153 ) 380,496,650 155,365,725 2019 12 months expected credit loss Life time expected credit loss Total Allowances Net Mitigation of due to Grade 1 (*1) Grade 2 (*1) Grade 1 (*1) Grade 2 (*1) Impaired Due from banks and loans at amortized cost: Banks W 11,703,863 1,179,294 77,675 1,804 — 12,962,636 (12,075 ) 12,950,561 57,087 Retail 136,124,712 7,443,675 5,694,210 3,608,216 476,897 153,347,710 (506,884 ) 152,840,826 87,826,564 Government 19,274,854 111,987 80,648 — — 19,467,489 (5,922 ) 19,461,567 — Corporations 85,202,285 32,112,103 10,219,343 13,546,622 956,772 142,037,125 (1,318,506 ) 140,718,619 77,732,792 Card receivable 17,161,184 2,249,276 1,879,073 2,233,942 444,311 23,967,786 (853,522 ) 23,114,264 8,728 269,466,898 43,096,335 17,950,949 19,390,584 1,877,980 351,782,746 (2,696,909 ) 349,085,837 165,625,171 Securities at fair value through other comprehensive income (*2) 49,276,299 9,057,701 — 239,094 — 58,573,094 — 58,573,094 — Securities at amortized cost 44,296,882 1,271,681 23,272 — — 45,591,835 (9,770 ) 45,582,065 — W 363,040,079 53,425,717 17,974,221 19,629,678 1,877,980 455,947,675 (2,706,679 ) 453,240,996 165,625,171 (*1) Credit quality of due from banks and loans was classified based on the internal credit rating as follows: Type of Borrower Grade 1 Grade 2 Banks and governments OECD sovereign credit rating of 6 or above (as applied to the nationality of the banks and governments) OECD sovereign credit rating of below 6 (as applied to the nationality of the banks and governments) Retail Pool of retail loans with probability of default of less than 2.25% Pool of retail loans with probability of default of 2.25% or more Corporations Internal credit rating of BBB+ or above Internal credit rating of below BBB+ (Probability of default for loans with internal credit rating of BBB is 2.25%) Credit cards For individual card holders, score of 7 or higher in Shinhan Card’s internal behavior scoring system For corporate cardholders, same as corporate loans For individual card holders, score of below 7 in Shinhan Card’s internal behavior scoring system For corporate cardholders, same as corporate loans (*2) As of December 31, 2018 and 2019, allowance for credit loss for securities at fair value through other comprehensive income amounted to W W v) Credit risk exposures per credit grade of off-balance • Credit risk exposures per credit grade of off-balance 2018 Grade 1 (*1) Grade 2 (*1) Impaired Total Financial guarantee: 12 months expected credit loss W 2,137,695 1,975,877 — 4,113,572 Life time expected credit loss 146,236 152,277 — 298,513 Impaired — — 1,789 1,789 2,283,931 2,128,154 1,789 4,413,874 Loan commitment and other credit line 12 months expected credit loss 137,920,323 19,044,745 — 156,965,068 Life time expected credit loss 6,636,365 1,787,965 — 8,424,330 Impaired — — 10,539 10,539 144,556,688 20,832,710 10,539 165,399,937 W 146,840,619 22,960,864 12,328 169,813,811 2019 Grade 1 (*1) Grade 2 (*1) Impaired Total Financial guarantee: 12 months expected credit loss W 2,805,417 1,495,091 — 4,300,508 Life time expected credit loss 248,544 148,696 — 397,240 Impaired — — 810 810 3,053,961 1,643,787 810 4,698,558 Loan commitment and other credit line 12 months expected credit loss 146,010,944 21,044,977 — 167,055,921 Life time expected credit loss 7,850,945 2,730,143 — 10,581,088 Impaired — — 23,538 23,538 153,861,889 23,775,120 23,538 177,660,547 W 156,915,850 25,418,907 24,348 182,359,105 (*1) The distinction between prime grade and normal grade is as follows: Type of Borrower Corporations and banks Grade: 1. Prime Internal credit rating of BBB+ or above Grade: 2. Normal Internal credit rating of below BBB+ vi) Credit risk exposures per credit quality of derivative assets Credit quality of derivative assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Grade 1 W 1,687,005 2,377,548 Grade 2 106,608 451,726 W 1,793,613 2,829,274 (*) Credit quality of derivative assets was classified based on the internal credit ratings. vii) Concentration by geographic location An analysis of concentration by geographic location for financial instrument, net of allowance, as of December 31, 2018 and 2019 are as follows: 2018 Korea USA England Japan Germany Vietnam China Other Total Due from banks and loans at amortized cost Banks W 8,996,272 1,712,675 462,540 640,895 213,399 947,315 3,221,442 1,741,278 17,935,816 Retail 130,034,683 359,668 4,432 3,440,623 2,151 1,031,299 974,568 652,134 136,499,558 Government 4,257,877 499,742 — 750,676 108,667 182,822 546,597 170,834 6,517,215 Corporations 116,621,693 2,707,273 109,295 2,578,989 96,468 1,846,470 2,621,744 5,214,060 131,795,992 Card 21,453,128 8,435 301 2,107 208 92,992 20,785 14,331 21,592,287 281,363,653 5,287,793 576,568 7,413,290 420,893 4,100,898 7,385,136 7,792,637 314,340,868 Deposits and loans at FVTPL Bank 186,465 7 |
Significant estimate and judgme
Significant estimate and judgment | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of significant estimate and judgment [Abstract] | |
Significant estimate and judgment | 5. Significant estimates and judgments The preparation of consolidated financial statements requires the application of certain critical estimates and judgments relative to the future. Management’s estimated outcomes may differ from actual outcomes. The change in an accounting estimate is recognized prospectively in profit or loss in the period of the change, if the change affects that period only, or the period of the change and future periods, if the change affects both. (a) Estimation of impairment of goodwill The Group reviews the goodwill annually in accordance with the accounting policy in Note 3. The recoverable amount of the cash-generating unit (group) was determined based on the value-in-use (b) Income taxes The Group is subject to tax laws from various countries. In the normal course of business, there are various types of transactions and different accounting methods that may add uncertainties to the decision of the final income taxes. The Group has recognized current and deferred taxes that reflect tax consequences based on the best estimates in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. However, actual income taxes in the future may not be identical to the recognized deferred tax assets and liabilities, and this difference can affect current and deferred tax at the period when the final tax effect is determined. (c) Fair value of financial instruments The fair values of financial instruments which are not actively traded in the market are determined by using valuation techniques. The Group determines valuation techniques and assumptions based on significant market conditions at the end of each reporting period. Diverse valuation techniques are used to determine the fair value of financial instruments, from generic valuation techniques to internally developed valuation models that incorporate various types of assumptions and variables. (d) Allowance for credit loss, guarantees and unused loan commitments The Group determines and recognizes allowances for losses on debt securities, loans and other receivables measured at amortized cost or FVOCI, and recognizes provisions for guarantees and unused loan commitments through impairment testing. The accuracy of allowances and provisions for credit losses are determined by the estimation of expected cash flows for individually assessed allowances, and methodology and assumptions used for collectively assessed allowances and provisions for groups of loans, guarantees and unused loan commitments. (e) Defined benefit obligation The present value of a defined benefit obligation that is measured by actuarial valuation methods uses various assumptions which can change according to various elements. The rate used to discount post-employment benefit obligations is determined by reference to market yields at the end of the reporting period on high quality corporate bonds. The currency and term of the corporate bonds are consistent with the currency and estimated term of the post-employment benefit obligations. Actuarial gains and losses including experience adjustments and the effects of changes in actuarial assumptions are recognized in other comprehensive income. Other significant assumptions related to defined benefit obligations are based on current market situations. (f) Hedging relationship The Group expects a high risk hedging effect throughout the hedging period in designating the hedging relationship and it is probable that the hedged transaction will be highly probable in the cash flow hedge. |
Investment in subsidiaries
Investment in subsidiaries | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of investment in subsidiaries [Abstract] | |
Investment in subsidiaries | 6. Investment in subsidiaries (a) The summarized financial information of the controlling company and the Group’s major subsidiaries as of December 31, 2018 and 2019 is as follows: 2018 2019 Investees (*1) Asset balance Liability balance Equity balance Asset balance Liability balance Equity balance Shinhan Financial Group(separate) W 30,114,232 8,464,164 21,650,068 32,261,322 9,795,896 22,465,426 Shinhan Bank 348,523,615 324,331,076 24,192,539 392,723,044 366,629,929 26,093,115 Shinhan Card Co., Ltd. 29,429,455 23,427,988 6,001,467 32,917,910 26,769,044 6,148,866 Shinhan Investment Corp. 28,987,216 25,614,647 3,372,569 37,375,487 33,138,930 4,236,557 Shinhan Life Insurance Co., Ltd. 31,823,631 30,078,522 1,745,109 34,133,649 32,062,490 2,071,159 Orange Life Insurance Co., Ltd. — — — 32,841,359 29,654,711 3,186,648 Shinhan Capital Co., Ltd. 6,116,585 5,368,265 748,320 7,566,428 6,612,519 953,909 Jeju Bank 5,980,941 5,507,949 472,992 6,192,927 5,695,223 497,704 Shinhan Credit Information Co., Ltd. 24,377 8,750 15,627 25,292 10,044 15,248 Shinhan Alternative Investment Management Inc. 102,079 92,194 9,885 87,694 75,665 12,029 Shinhan BNP Paribas Asset Management Co., Ltd. 173,964 14,841 159,123 184,203 19,678 164,525 SHC Management Co., Ltd. 9,755 198 9,557 9,639 — 9,639 Shinhan DS 43,095 23,118 19,977 89,141 67,954 21,187 Shinhan Savings Bank 1,454,290 1,291,012 163,278 1,602,902 1,418,317 184,585 Asia Trust Co., Ltd. — — — 172,793 43,933 128,860 Shinhan AITAS Co., Ltd. 65,725 7,367 58,358 77,086 10,962 66,124 Shinhan REITs Management Co., Ltd. 36,298 3,496 32,802 45,832 5,619 40,213 Shinhan AI Co., Ltd. — — — 42,402 1,674 40,728 (*1) The consolidated financial statements of the consolidated subsidiaries are based on consolidated financial statements, if applicable. (*2) Trusts, beneficiary certificates, securitization special limited liability companies, associates and private equity investment specialists that are not actually operating their own business are excluded. (b) The summarized income information of the controlling company and the Group’s major subsidiaries for the years ended December 31, 2017, 2018 and 2019 is as follows: 2017 (*3) 2018 2019 Investees (*1)(*2) Operating Income Net Income Comprehensive Operating Income Net Income Comprehensive Operating Income Net Income Comprehensive Shinhan Financial Group(separate) W 1,008,868 754,727 755,018 1,519,197 1,234,883 1,234,044 1,480,030 1,129,173 1,127,202 Shinhan Bank 21,240,193 1,712,314 1,496,582 19,731,711 2,279,362 2,333,266 23,145,476 2,329,268 2,527,665 Shinhan Card Co., Ltd. 5,186,592 898,723 787,956 3,752,232 517,761 477,135 3,892,257 509,032 486,114 Shinhan Investment Corp. 5,324,056 211,919 195,910 5,279,567 251,268 269,058 6,139,926 220,764 225,963 Shinhan Life Insurance Co., Ltd. 5,997,997 120,642 46,062 5,633,679 131,021 150,997 5,413,175 123,870 326,783 Orange Life Insurance Co., Ltd. — — — — — — 4,662,085 271,455 433,510 Shinhan Capital Co., Ltd. 351,772 87,647 88,128 439,031 103,400 100,317 455,246 126,050 123,032 Jeju Bank 208,661 25,143 22,053 224,766 27,446 30,579 239,732 27,934 30,519 Shinhan Credit Information Co., Ltd. 32,836 340 377 37,616 1,392 985 38,648 507 658 Shinhan Alternative Investment Management Inc. 29,410 (844 ) (842 ) 21,590 (780 ) (780 ) 32,401 2,144 2,144 Shinhan BNP Paribas Asset Management Co., Ltd. 77,474 19,705 20,073 78,378 18,868 18,980 84,256 23,090 22,655 SHC Management Co., Ltd. 177 1,036 1,036 140 309 309 154 82 82 Shinhan DS 79,063 1,404 2,482 99,279 1,314 1,525 138,697 2,074 1,292 Shinhan Savings Bank 78,516 16,800 16,757 94,636 19,384 18,919 116,849 23,122 22,972 Asia Trust Co., Ltd. — — — — — — 54,920 18,098 18,128 Shinhan AITAS Co., Ltd. 40,781 6,481 6,481 44,729 8,461 8,461 51,823 10,821 10,821 Shinhan REITs Management Co., Ltd. 70 (752 ) (752 ) 7,386 3,564 3,552 7,342 7,414 7,411 Shinhan AI Co., Ltd. — — — — — — 3,088 (654 ) (654 ) (*1) The consolidated financial statements of the consolidated subsidiaries are based on consolidated financial statements, if applicable. (*2) Trusts, beneficiary certificates, securitization special limited liability companies, associates and private equity investment specialists that are not actually operating their own business are excluded. (*3) As the accounting treatment for the acquisition of ANZ Retail business by Shinhan Bank Vietnam Co. Ltd was completed, the amount was adjusted retrospectively. (c) Change in the scope of consolidation i) Change in consolidated subsidiaries for the year ended December 31, 2018 are as follows: Company Description Included PT Shinhan Asset Management Indonesia Newly acquired subsidiary SHINHAN DS VIETNAM CO, LTD Newly invested subsidiary ii) Change in consolidated subsidiaries for the year ended December 31, 2019 are as follows: Company Description Included Orange Life Insurance Co., Ltd. Newly acquired subsidiary Asia Trust Co., Ltd. Newly acquired subsidiary Shinhan Vietnam Finance Ltd. Newly acquired subsidiary Shinhan AI Co., Ltd. Newly invested subsidiary (*) Subsidiaries such as trust, beneficiary certificate, corporate restructuring fund and private equity fund which are not actually operating their own business are excluded. |
Operating segments
Operating segments | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of operating segments [Abstract] | |
Operating segments | 7. Operating segments (a) Segment information The general descriptions by operating segments as of December 31, 2019 are as follows: Segment Description Banking The banking segment offers commercial banking services such as lending to and receiving deposits from corporations and individuals and also includes securities investing and trading and derivatives trading primarily through domestic and overseas bank branches and subsidiaries. Credit card The credit card segment primarily consists of the credit card business of Shinhan Card, including its installment finance and automobile leasing businesses. Securities Securities segment comprise securities trading, underwriting and brokerage services. Life insurance Life insurance segment consists of life insurance services provided by Shinhan Life Insurance and Orange Life Insurance. Others Leasing, assets management and other businesses (b) The following tables provide information of income and expense for each operating segment for the years ended December 31, 2017, 2018 and 2019: 2017 Banking (*) Credit card Securities Life Others Consolidation Total Net interest income W 5,107,888 1,501,054 433,047 727,917 69,231 3,816 7,842,953 Net fees and commission income 816,795 359,408 297,718 53,271 180,510 3,252 1,710,954 Impairment losses on financial assets (674,706 ) (291,694 ) (15,752 ) (13,162 ) (36,830 ) 18,596 (1,013,548 ) General and administrative expenses (3,149,436 ) (831,927 ) (444,935 ) (222,650 ) (234,649 ) 72,399 (4,811,198 ) Other income (expense), net (11,556 ) 567,234 (17,229 ) (385,226 ) 53,815 (106,173 ) 100,865 Operating income 2,088,985 1,304,075 252,849 160,150 32,077 (8,110 ) 3,830,026 Equity method income (loss) 1,306 — 12,081 (910 ) 8,796 (880 ) 20,393 Income tax expense 418,679 285,853 63,472 41,441 32,805 6,153 848,403 Profit for the period W 1,623,425 1,012,755 211,919 120,642 9,600 (29,136 ) 2,949,205 Controlling interest W 1,623,184 1,027,823 211,907 120,642 9,600 (74,340 ) 2,918,816 Non-controlling 241 (15,068 ) 12 — — 45,204 30,389 2018 Banking Credit card Securities Life Others Consolidation Total Net interest income W 5,707,813 1,583,100 429,095 761,742 95,618 2,721 8,580,089 Net fees and commission income 850,646 433,043 388,944 69,780 198,828 (2,244 ) 1,938,997 Reversal of (provision for) ACL (250,134 ) (466,447 ) (9,226 ) (13,400 ) (10,238 ) 1,568 (747,877 ) General and administrative expenses (3,098,629 ) (751,580 ) (493,906 ) (227,740 ) (263,046 ) 93,326 (4,741,575 ) Other income (expense), net (163,104 ) 74,954 17,963 (409,151 ) 80,857 (131,739 ) (530,220 ) Operating income(loss) (expense) 3,046,592 873,070 332,870 181,231 102,019 (36,368 ) 4,499,414 Equity method income (loss) (977 ) — 15,228 (1,026 ) 6,909 (2,646 ) 17,488 Income tax expense 832,494 225,837 95,438 50,429 59,556 4,591 1,268,345 Profit for the year W 2,195,263 629,307 251,268 131,021 49,168 (57,762 ) 3,198,265 Controlling interest W 2,194,950 630,993 251,265 131,021 49,168 (100,675 ) 3,156,722 Non-controlling 313 (1,686 ) 3 — — 42,913 41,543 2019 Banking Credit card Securities Life Others Consolidation Total Net interest income W 5,989,462 1,753,966 457,852 1,647,795 127,564 (238,675 ) 9,737,964 Net fees and commission income 950,389 403,259 351,303 167,324 272,244 (4,000 ) 2,140,519 Reversal of (provision for) allowance for credit loss (“ACL”) (389,004 ) (566,415 ) 1,325 (797 ) (25,030 ) (771 ) (980,692 ) General and administrative expenses (3,177,158 ) (745,848 ) (511,418 ) (443,013 ) (335,090 ) 77,853 (5,134,674 ) Other income (expense), net (211,882 ) (33,204 ) (59,006 ) (786,103 ) 129,272 244,056 (716,867 ) Operating income 3,161,807 811,758 240,056 585,206 168,960 78,463 5,046,250 Equity method income (loss) (764 ) — 18,163 (1,296 ) 12,265 24,919 53,287 Income tax expense 718,650 205,863 68,311 187,608 73,213 15,479 1,269,124 Profit for the year W 2,256,652 609,582 220,764 395,325 100,259 59,802 3,642,384 Controlling interest W 2,256,576 609,350 220,850 395,325 100,259 (178,863 ) 3,403,497 Non-controlling 76 232 (86 ) — — 238,665 238,887 (*) As the accounting treatment for the acquisition of ANZ Retail business by Shinhan Bank Vietnam Co. Ltd was completed, the amount was adjusted retrospectively. (c) The following tables provide information of net interest income (expense) of each operating segment for the years ended December 31, 2017, 2018 and 2019: 2017 Banking Credit card Securities Life Others Consolidation Total Net interest income from: External customers W 5,113,584 1,517,399 427,888 727,975 56,107 — 7,842,953 Internal transactions (5,696 ) (16,345 ) 5,159 (58 ) 13,124 3,816 — W 5,107,888 1,501,054 433,047 727,917 69,231 3,816 7,842,953 2018 Banking Credit card Securities Life Others Consolidation Total Net interest income from: External customers W 5,714,568 1,602,849 423,156 762,978 76,538 — 8,580,089 Internal transactions (6,755 ) (19,749 ) 5,939 (1,236 ) 19,080 2,721 — W 5,707,813 1,583,100 429,095 761,742 95,618 2,721 8,580,089 2019 Banking Credit card Securities Life Others Consolidation Total Net interest income from: External customers (*) W 5,995,097 1,781,266 450,268 1,647,988 103,161 (239,816 ) 9,737,964 Internal transactions (5,635 ) (27,300 ) 7,584 (193 ) 24,403 1,141 — W 5,989,462 1,753,966 457,852 1,647,795 127,564 (238,675 ) 9,737,964 (*) Consolidated adjustment to net interest income from external customers is from the securities and others which were measured in fair values as a part of business combination accounting. (d) The following tables provide information of net fees and commission income (expense) of each operating segment for the years ended December 31, 2017, 2018 and 2019: 2017 Banking Credit card Securities Life Others Consolidation Total Net fees and commission income from: External customers W 844,349 384,356 306,407 60,555 115,287 — 1,710,954 Internal transactions (27,554 ) (24,948 ) (8,689 ) (7,284 ) 65,223 3,252 — W 816,795 359,408 297,718 53,271 180,510 3,252 1,710,954 2018 Banking Credit card Securities Life Others Consolidation Total Net fees and commission income from: External customers W 872,631 464,342 400,227 77,145 124,652 — 1,938,997 Internal transactions (21,985 ) (31,299 ) (11,283 ) (7,365 ) 74,176 (2,244 ) — W 850,646 433,043 388,944 69,780 198,828 (2,244 ) 1,938,997 2019 Banking Credit card Securities Life Others Consolidation Total Net fees and commission income from: External customers W 1,157,020 254,139 361,526 175,171 192,663 — 2,140,519 Internal transactions (206,631 ) 149,120 (10,223 ) (7,847 ) 79,581 (4,000 ) — W 950,389 403,259 351,303 167,324 272,244 (4,000 ) 2,140,519 (e) Financial information of geographical area The following table provides information of income from external consumers by geographical area for the years ended December 31, 2017, 2018 and 2019. 2017 (*2) 2018 2019 Domestic W 3,504,780 4,023,916 4,378,239 Overseas 325,246 475,498 668,011 W 3,830,026 4,499,414 5,046,250 The following table provides information of non-current 2018 2019 Domestic W 7,597,266 9,816,600 Overseas 201,574 314,052 W 7,798,840 10,130,652 (*1) Non-current (*2) As the accounting treatment for the acquisition of ANZ Retail business by Shinhan Bank Vietnam Co. Ltd was completed, the amount was adjusted retrospectively. |
Cash and Due from banks at amor
Cash and Due from banks at amortized cost | 12 Months Ended |
Dec. 31, 2019 | |
Cash and Due from banks at amortized cost [Abstract] | |
Cash and Due from banks at amortized cost | 8. Cash and due from banks at amortized cost (a) Cash and due from banks at amortized cost as of December 31, 2018 and 2019 are as follows: 2018 2019 Cash and cash equivalents W 2,617,231 2,582,886 Deposits in won: Reserve deposits 2,360,416 13,840,988 Time deposits 1,346,015 1,413,964 Other 2,271,812 1,890,541 5,978,243 17,145,493 Deposits in foreign currency: Deposits 5,045,513 5,616,049 Time deposits 2,791,486 2,393,885 Other 930,977 697,505 8,767,976 8,707,439 Allowance for credit losses (14,824 ) (12,074 ) W 17,348,626 28,423,744 (b) Restricted due from banks at amortized cost as of December 31, 2018 and 2019 are as follows: 2018 2019 Deposits denominated in won: Reserve deposits W 2,360,416 13,840,988 Other 2,182,119 1,081,698 4,542,535 14,922,686 Deposits denominated in foreign currency 1,632,971 1,584,239 W 6,175,506 16,506,925 |
Financial assets at fair value
Financial assets at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2019 | |
Financial assets at fair value through profit or loss [Abstract] | |
Disclosure of financial assets at fair value through profit or loss | 9. Financial assets at fair value through profit or loss (a) Financial assets at fair value through profit or loss as of December 31, 2018 and 2019 are as follows: 2018 2019 Debt instruments: Governments W 2,765,054 2,873,419 Financial institutions 9,415,470 12,711,074 Corporations 6,664,839 8,541,514 Stocks with put option 381,844 598,858 Equity investment with put option 1,080,723 1,458,933 Beneficiary certificates 9,062,004 10,678,620 Commercial papers 5,535,397 5,160,063 CMA 3,001,831 3,723,401 Others (*) 2,227,802 2,655,260 40,134,964 48,401,142 Equity instruments: Stocks 1,050,097 1,488,743 Equity investment 4,908 — Others 110,066 109,197 1,165,071 1,597,940 41,300,035 49,999,082 Other: Loans at fair value 1,209,194 2,154,821 Due from banks at fair value 870,656 897,525 Gold deposits 154,881 111,715 W 43,534,766 53,163,143 (*) As of December 31, 2018 and 2019, restricted reserve for claims of customers’ deposits (trusts) are W W (b) Financial assets to which overlay approach were applied in accordance with IFRS 9 ‘Financial Instruments’ and IFRS 4 ‘Insurance Contracts’ as of December 31, 2018 and 2019 are as follows. 2018 2019 Due from banks at fair value through profit or loss W 870,656 897,525 Securities at fair value through profit or loss 3,160,525 5,139,380 W 4,031,181 6,036,905 A financial asset is eligible for designation for the overlay approach, if it is measured at fair value through profit or loss applying IFRS 9 but would not have been measured at fair value through profit or loss in its entirety applying IAS 39; and it is not held in respect of an activity that is not associated with contracts within the scope of IFRS 4. The reclassified amounts between profit or loss and other comprehensive income due to the overlay approach as of and for the years ended December 31, 2018 and 2019 are as follows: 2018 Profit or loss Other comprehensive By IFRS 9 By IAS 39 Amount Tax effect Net gain (loss) on valuation of financial assets at fair value through profit or loss W (77,179) (4,425 ) (72,754 ) 20,007 Net gain (loss) on disposal of financial assets at fair value through profit or loss 4,310 6,498 (2,188 ) 602 W (72,869) 2,073 (74,942 ) 20,609 2019 Profit or loss Other comprehensive By IFRS 9 By IAS 39 Amount Tax effect Net gain (loss) on valuation of financial assets at fair value through profit or loss W 150,865 (74,586 ) 225,451 (50,042 ) Net gain (loss) on disposal of financial assets at fair value through profit or loss 65,627 43,493 22,134 (4,672 ) W 216,492 (31,093 ) 247,585 (54,714 ) |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2019 | |
Derivatives [Abstract] | |
Derivatives | 10. Derivatives (a) The notional amounts of derivatives as of December 31, 2018 and 2019 are as follows: 2018 2019 Foreign currency related: Over the counter: Currency forwards W 139,804,552 137,383,704 Currency swaps 31,794,900 40,826,444 Currency options 1,939,939 2,758,801 173,539,391 180,968,949 Exchange traded: Currency futures 436,714 1,045,138 173,976,105 182,014,087 Interest rates related: Over the counter: Interest rate swaps 31,228,489 37,801,528 Interest rate options 294,000 286,000 31,522,489 38,087,528 Exchange traded: Interest rate futures 1,739,697 2,455,450 Interest rate swaps (*) 56,862,374 65,868,540 58,602,071 68,323,990 90,124,560 106,411,518 Credit related: Over the counter: Credit swaps 3,840,660 5,404,257 Equity related: Over the counter: Equity swaps and forwards 5,134,004 4,255,831 Equity options 645,709 864,038 5,779,713 5,119,869 Exchange traded: Equity futures 630,409 876,220 Equity options 2,708,557 4,039,226 3,338,966 4,915,446 9,118,679 10,035,315 Commodity related: Over the counter: Commodity swaps and forwards 890,289 758,533 Commodity options 4,780 — 895,069 758,533 Exchange traded: Commodity futures and options 245,751 344,329 1,140,820 1,102,862 Hedge: Currency forwards 1,522,306 1,869,518 Currency swaps 4,143,828 4,532,114 Interest rate swaps 10,147,731 10,091,632 15,813,865 16,493,264 W 294,014,689 321,461,303 (*) The notional amount of derivatives which is settled in the ‘Central Counter Party (CCP)’ system. (b) Fair values of derivative instruments as of December 31, 2018 and 2019 are as follows: 2018 2019 Assets Liabilities Assets Liabilities Foreign currency related: Over the counter: Currency forwards W 912,795 870,984 1,360,384 1,056,760 Currency swaps 393,702 372,725 473,797 519,445 Currency options 7,637 12,273 9,007 9,430 1,314,134 1,255,982 1,843,188 1,585,635 Exchange traded: Currency futures 11 — — — 1,314,145 1,255,982 1,843,188 1,585,635 Interest rates related: Over the counter: Interest rate swaps 251,251 172,019 260,020 247,723 Interest rate options — 5,347 835 5,626 251,251 177,366 260,855 253,349 Exchange traded: Interest rate futures 412 1,569 697 595 251,663 178,935 261,552 253,944 Credit related: Over the counter: Credit swaps 43,382 30,372 283,015 38,598 Equity related: Over the counter: Equity swap and forwards 51,243 205,611 144,276 39,422 Equity options 2,265 2,352 4,526 9,402 53,508 207,963 148,802 48,824 Exchange traded: Equity futures 15,937 778 4,318 6,417 Equity options 37,690 109,795 28,355 29,741 53,627 110,573 32,673 36,158 107,135 318,536 181,475 84,982 Commodity related: Over the counter: Commodity swaps and forwards 2,743 58,800 14,496 27,745 Commodity options 27 29 — — 2,770 58,829 14,496 27,745 Exchange traded: Commodity futures 8,226 4,016 2,342 10,100 10,996 62,845 16,838 37,845 Hedge: Currency forwards 9,185 30,497 14,380 21,121 Currency swaps 21,976 79,492 74,240 48,396 Interest rate swaps 35,131 483,233 154,586 232,491 66,292 593,222 243,206 302,008 W 1,793,613 2,439,892 2,829,274 2,303,012 (c) Gain or loss on valuation of derivatives for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Foreign currency related Over the counter Currency forwards W 85,498 41,188 174,340 Currency swaps 91,410 (34,444 ) (24,827 ) Currency options 5,422 8,247 4,056 182,330 14,991 153,569 Exchange traded Currency futures (137 ) 11 — 182,193 15,002 153,569 Interest rates related Over the counter Interest rate swaps (17,805 ) 86,675 (75,349 ) Interest rate options 413 (1,459 ) (1,938 ) (17,392 ) 85,216 (77,287 ) Exchange traded Interest rate futures 6,950 (2,512 ) 1,008 (10,442 ) 82,704 (76,279 ) Credit related Over the counter Credit swaps 46,593 (18,396 ) 213,754 Equity related Over the counter Equity swap and forwards 73,490 (271,457 ) 46,770 Equity options 36,662 4,326 (841 ) 110,152 (267,131 ) 45,929 Exchange traded Equity futures (733 ) 15,159 (2,275 ) Equity options 22,315 (44,163 ) 58,721 21,582 (29,004 ) 56,446 131,734 (296,135 ) 102,375 Commodity related Over the counter Commodity swaps and forwards 13,435 (79,296 ) 3,191 Commodity options (10 ) 33 29 13,425 (79,263 ) 3,220 Exchange traded Commodity futures 5,722 4,209 (7,759 ) 19,147 (75,054 ) (4,539 ) Hedge (286,920 ) 78,892 332,778 W 82,305 (212,987 ) 721,658 (d) Impact of hedge accounting on the consolidated financial statements i) Gains (losses) on fair value hedged items and hedging instruments attributable to the hedged ineffectiveness for the years ended December 31, 2018 and 2019 were as follows: 2018 Gains (losses) on Gains (losses) on Hedge ineffectiveness Fair value hedges Interest rate swaps (*1) W (76,573 ) 79,635 3,062 Foreign exchange risk (*1) 55,188 (60,380 ) (5,192 ) W (21,385 ) 19,255 (2,130 ) 2019 Gains (losses) on Gains (losses) on Hedge ineffectiveness Fair value hedges Interest rate swaps (*1) W (370,787 ) 377,121 6,334 Foreign exchange risk (*1) 13,725 (18,786 ) (5,061 ) W (357,062 ) 358,335 1,273 (*1) The related account categories are presented as interest rate swap assets / liabilities and currency swap assets. (*2) Ineffective portion of hedge: the difference between hedging instruments and hedged items. ii) Due to the ineffectiveness of hedge of cash flow risk and hedge of net investment in foreign operations during the year, the amounts recognized in the income statement and other comprehensive income are as follows. 2018 Gains (losses) on hedges Hedge ineffectiveness From cash flow hedge Cash flow hedges Interest rate risk (*1) W (23,186 ) — — Foreign exchange risk (*1) 65,386 (5,188 ) 70,051 Hedge of net investments Foreign exchange risk (*1) (35,879 ) (3,765 ) — W 6,321 (8,953 ) 70,051 2019 Gains (losses) on hedges Hedge ineffectiveness From cash flow hedge Cash flow hedges Interest rate risk (*1) W (11,126 ) — — Foreign exchange risk (*1) 52,932 (25,709 ) (57,870 ) Discontinuation of cash flow hedges (7,986 ) — 7,986 Hedge of net investments Foreign exchange risk (*1) (49,463 ) (2,327 ) — W (15,643 ) (28,036 ) (49,884 ) (*1) The related account categories are presented as interest rate swap assets / liabilities and currency swap assets / liabilities, currency forwards assets / liabilities and borrowings. (*2) Ineffective portion of hedge: The difference between hedging instruments and hedged items. (e) Nominal values and average hedge ratio for derivatives as of December 31, 2018 and December 31, 2019 were as follows: 2018 Less than 1~2 2~3 3~4 4~5 More than Total Interest risk: Nominal values: W 190,000 737,632 723,177 707,254 1,305,584 6,484,084 10,147,731 Average hedge ratio: 100 % 100 % 100 % 100 % 100 % 100 % 100 % Exchange risk: Nominal values: 2,731,517 1,958,746 827,158 1,038,935 302,423 — 6,858,779 Average hedge ratio: 100 % 100 % 100 % 100 % 100 % — 100 % 2019 Less than 1~2 2~3 3~4 4~5 More than Total Interest risk: Nominal values: W 750,469 704,985 717,948 1,228,424 575,481 6,114,325 10,091,632 Average hedge ratio: 100 % 100 % 100 % 100 % 100 % 100 % 100 % Exchange risk: Nominal values: 3,651,118 1,075,886 1,269,520 968,770 84,275 534,898 7,584,467 Average hedge ratio: 100 % 100 % 100 % 100 % 100 % 100 % 100 % (f) Effect of hedge accounting on financial statement, statement of comprehensive income, statement of changes in equity i) Purpose and strategy of risk avoidance The Group transacts with derivative financial instruments to hedge its interest rate risk and currency risk arising from the assets and liabilities of the Group. The Group applies the fair value hedge accounting for the changes in the market interest rates of the Korean won structured notes, foreign currency generated financial debentures, structured deposits in foreign currencies, foreign currency structured deposits and foreign currency investment receivables; and cash flow hedge accounting for interest rate swaps and currency swaps to hedge cash flow risk due to interest rates and foreign exchange rates of the Korean won debt, the Korean won bonds, foreign currency bonds, etc. In addition, in order to hedge the exchange rate risk of the net investment in overseas business, the Group applies the net investment hedge accounting for foreign operations using currency forward and non-derivative ii) Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity 2018 Nominal amount Carrying value Carrying value Changes if fair Fair value hedges Interest rate swap W 9,377,731 35,093 467,381 55,244 Currency swap 33,543 433 — (1,502 ) Cash flow hedge Interest rate swap 770,000 38 15,853 (23,186 ) Currency swap 4,110,285 21,543 79,492 (54 ) Currency forward 1,298,686 3,191 24,925 (33,460 ) Hedge of net investments in foreign operations Currency forward 223,620 5,994 5,572 (3,261 ) Borrowings 1,192,645 — 1,186,792 (36,383 ) 2019 Nominal amount Carrying value Carrying value Changes if fair Fair value hedges Interest rate swap W 9,371,632 154,586 210,079 — Currency swap — — 248 (1,813 ) Currency forward 261,486 776 1,358 (582 ) Cash flow hedge Interest rate swap 720,000 — 22,412 (11,126 ) Currency swap 4,532,114 74,240 48,148 (29,829 ) Currency forward 1,376,472 11,854 19,763 (4,426 ) Hedge of net investments in foreign operations Currency forward 231,560 1,750 — (4,036 ) Borrowings 1,182,835 — 1,177,897 (47,755 ) (*) The related account categories are presented as interest rate swap assets / liabilities and currency forwards iii) Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity 2018 Carrying value Carrying Assets of Liabilities of Changes if Cash flow Foreign Fair value hedges Interest rate risk Foreign exchange risk W 293,215 8,873,059 (2,832 ) (524,459 ) (56,462 ) — — 62,406 — — — 2,675 — — Cash flow hedge Interest rate risk — 1,539,005 — — — (10,184 ) — Foreign exchange risk 2,795,320 2,716,148 — — 63,860 (2,006 ) — Hedge of net investments in foreign operations Foreign exchange risk — — — — (35,879 ) — 138,416 2019 Carrying value Carrying Assets of Liabilities of Changes if Cash flow Foreign Fair value hedges Interest rate risk Foreign exchange risk W 432,172 8,859,022 4,846 (56,292 ) (308,463 ) — — 306,638 — — — 1,671 — — Cash flow hedge Interest rate risk 645,723 1,740,000 — — (11,126 ) 80,674 — Foreign exchange risk 4,116,068 3,035,423 — — 115,867 (11,188 ) — Hedge of net investments in foreign operations Foreign exchange risk — — — — (49,463 ) — (88,953 ) (*) The related account categories are presented as interest rate swap assets / liabilities and currency forwards. |
Securities at fair value throug
Securities at fair value through other comprehensive income and securities at amortised cost | 12 Months Ended |
Dec. 31, 2019 | |
Securities at fair value through other comprehensive income and securities at amortized cost [Abstract] | |
Securities at fair value through other comprehensive income and securities at amortised cost | 11. Securities at fair value through other comprehensive income and securities at amortized cost (a) Details of securities at FVOCI and securities at amortized cost as of December 31, 2018 and 2019 are as follows: 2018 2019 Securities at FVOCI: Debt securities: Government bonds W 8,975,391 17,597,910 Financial institutions bonds 17,341,330 21,527,242 Corporate bonds and others 11,360,924 19,447,942 37,677,645 58,573,094 Equity securities (*): Stocks 630,010 728,311 Equity investments 6,515 5,356 Others — 74,292 636,525 807,959 38,314,170 59,381,053 Securities at amortized cost: Debt securities: Government bonds 18,000,454 30,385,084 Financial institutions bonds 2,171,623 4,770,204 Corporate bonds and others 8,306,059 10,426,777 28,478,136 45,582,065 W 66,792,306 104,963,118 (*) Equity securities in the above table are classified as other comprehensive income – equity securities designated as fair value items, and other comprehensive income and fair value options were exercised for the purpose of holding as required by the policy. (b) Changes in carrying value of debt securities at fair value through other comprehensive income and securities at amortized cost for the years ended December 31, 2018 and 2019 are as follows: 2018 Securities at fair value through other comprehensive income Securities at amortized cost 12 months credit loss Life time Total 12 months expected Life time expected Total Beginning allowance W 36,641,928 15,879 36,657,807 24,403,423 21,444 24,424,867 Transfer to 12 months expected credit loss — — — — — — Transfer to life time expected credit loss (26,187 ) 26,187 — — — — Transfer to impaired financial asset — — — — — — Purchase 26,938,512 98,778 27,037,290 5,836,342 — 5,836,342 Disposal (7,182,343 ) (18,687 ) (7,201,030 ) — — — Repayment (19,338,938 ) — (19,338,938 ) (1,607,467 ) (3 ) (1,607,470 ) Others (*) 538,842 (16,326 ) 522,516 (167,377 ) 1,034 (166,343 ) Ending balance W 37,571,814 105,831 37,677,645 28,464,921 22,475 28,487,396 (*) Included the effects from changing currency rate. 2019 Securities at fair value through other Securities at amortized cost 12 months credit loss Life time credit loss Total 12 months credit loss Life time credit loss Total Beginning allowance W 37,571,814 105,831 37,677,645 28,464,921 22,475 28,487,396 Transfer to 12 months expected credit loss 34,555 (34,555 ) — 20,198 (20,198 ) — Transfer to life time expected credit loss (64,928 ) 64,928 — — — — Transfer to impaired financial asset — — — — — — Purchase 46,847,222 61,410 46,908,632 12,209,898 — 12,209,898 Disposal (16,109,006 ) (10,222 ) (16,119,228 ) — — — Repayment (21,129,182 ) — (21,129,182 ) (6,722,560 ) — (6,722,560 ) Others (*) 230,733 51,702 282,435 322,107 20,995 343,102 Business combination (Note 50) 10,952,792 — 10,952,792 11,273,999 — 11,273,999 Ending balance W 58,334,000 239,094 58,573,094 45,568,563 23,272 45,591,835 (*) Included the effects from changing currency rate, amortization of fair value adjustments recognized through business combination accountings. (c) Changes in allowance for credit loss of debt securities at fair value through other comprehensive income and securities at amortized cost for the years ended December 31, 2018 and 2019 are as follows: 2018 Securities at fair value through other comprehensive income Securities at amortized cost 12 months Life time Total 12 months Life time Total Beginning allowance W 17,038 1,938 18,976 6,327 2,232 8,559 Transfer to 12 months expected credit loss — — — — — — Transfer to life time expected credit loss (234 ) 234 — — — — Transfer to impaired financial asset — — — — — — Provision (reversal) 15,286 (3,220 ) 12,066 4,615 (2,215 ) 2,400 Disposal (5,251 ) (229 ) (5,480 ) — — — Others (*) (1,117 ) 1,639 522 (1,699 ) — (1,699 ) Ending balance W 25,722 362 26,084 9,243 17 9,260 (*) Included the effects from changing currency rate. 2019 Securities at fair value through other comprehensive income Securities at amortized cost 12 months Life time Total 12 months Life time Total Beginning allowance W 25,722 362 26,084 9,243 17 9,260 Transfer to 12 months expected credit loss 33 (33 ) — 4,301 (4,301 ) — Transfer to life time expected credit loss (60 ) 60 — — — — Transfer to impaired financial asset — — — — — — Provision (reversal) 8,403 (2,616 ) 5,787 (3,752 ) 4,295 543 Disposal (5,340 ) (258 ) (5,598 ) — — — Others (*) (1,177 ) 3,140 1,963 (33 ) — (33 ) Ending balance W 27,581 655 28,236 9,759 11 9,770 (*) Included the effects from changing currency rate, restructuring, bond-equity swap. (d) Gain or loss on disposal of securities at fair value through other comprehensive income and securities at amortized cost for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Gain on disposal of securities at FVOCI W 28,018 159,883 Loss on disposal of securities at FVOCI (7,464 ) (7,605 ) Gain on disposal of securities at amortized cost (*) — 86 Loss on disposal of securities at amortized cost (*) (9 ) (20 ) W 20,545 152,344 (*) The issuers of those securities have exercised the early redemption options. (e) Income or loss on equity securities at fair value through other comprehensive income As of December 31, 2018 and 2019, the Group recognizes dividends amounting to W W In addition, the disposition of equity securities at fair value through other comprehensive income are as follows: 2018 2019 Fair value at the date of disposal W 3,285 45,074 Cumulative net loss at the time of disposal (3,635 ) (10,843 ) |
Loans at amortized cost
Loans at amortized cost | 12 Months Ended |
Dec. 31, 2019 | |
Loans at amortized cost [Abstract] | |
Loans at amortized cost | 12. Loans at amortized cost (a) Loans at amortized cost as of December 31, 2018 and 2019 are as follows: 2018 2019 Household loans W 120,832,081 134,423,473 Corporate loans 152,164,476 161,029,877 Public and other loans 2,831,026 3,311,735 Loans to banks 3,585,563 2,633,532 Credit card receivables 22,447,614 24,024,491 301,860,760 325,423,108 Discount (23,588 ) (27,824 ) Deferred loan origination costs 497,368 534,530 302,334,540 325,929,814 Less: Allowance for credit loss (2,725,068 ) (2,684,835 ) W 299,609,472 323,244,979 (b) Changes in carrying value of loans at amortized cost and other assets as of December 31, 2018 and 2019 are as follows: i) Loans at amortized cost 2018 Retail Corporate Credit cards Others 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired Total Beginning balance W 104,325,268 7,345,842 301,838 119,852,620 18,455,422 1,084,348 16,467,623 3,743,265 385,252 4,665,298 486,090 13,163 277,126,029 Transfer (from) to 12 months expected credit losses 3,406,566 (3,402,543 ) (4,023 ) 3,736,019 (3,734,730 ) (1,289 ) 318,142 (318,025 ) (117 ) 71,381 (71,381 ) — — Transfer (from) to lifetime expected credit losses (4,920,514 ) 4,935,853 (15,339 ) (15,002,047 ) 15,051,204 (49,157 ) (587,777 ) 588,002 (225 ) (366,998 ) 366,998 — — Transfer (from) to credit- impaired financial assets (536,996 ) (36,489 ) 573,485 (1,349,787 ) (114,560 ) 1,464,347 (37,526 ) (25,522 ) 63,048 (24,068 ) (8,557 ) 32,625 — Origination 47,789,131 34,200 5,396 75,450,183 386,318 9,260 2,633,086 6,285 181,250 5,244,411 — — 131,739,520 Collection (35,972,892 ) (2,046,703 ) (215,294 ) (53,902,860 ) (8,365,144 ) (758,426 ) (74,777 ) (120,969 ) (1,511 ) (3,988,422 ) (169,909 ) (12,980 ) (105,629,887 ) Charge off — — (227,787 ) — — (312,841 ) — — (308,202 ) — — (2,567 ) (851,397 ) Disposal (42,664 ) (3,059 ) (74,664 ) (79,250 ) (15,997 ) (493,273 ) — — — — — (14,555 ) (723,462 ) Others (*1) 231,971 (7,043 ) 5,110 763,888 120,077 (23,588 ) (563,615 ) (42,527 ) 93,680 93,585 2,199 — 673,737 Ending balance W 114,279,870 6,820,058 348,722 129,468,766 21,782,590 919,381 18,155,156 3,830,509 413,175 5,695,187 605,440 15,686 302,334,540 (*1) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. (*2) The amount of uncollected loans currently in recovery (principal and interest) is W ii) Other financial assets 2018 12 months credit loss Life time credit loss Impaired Total Beginning balance W 31,599,203 456,538 23,243 32,078,984 Transfer (from) to 12 months expected credit losses 28,028 (28,024 ) (4 ) — Transfer (from) to lifetime expected credit losses (51,596 ) 51,607 (11 ) — Transfer (from) to credit- impaired financial assets (22,162 ) (2,986 ) 25,148 — Origination 30,085,141 27,251 21,930 30,134,322 Collection (30,207,574 ) (410,559 ) (4,236 ) (30,622,369 ) Charge off — — (20,984 ) (20,984 ) Disposal — (495 ) (13,083 ) (13,578 ) Others (*2) 77,654 6,129 — 83,783 Ending balance W 31,508,694 99,461 32,003 31,640,158 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. i) Loans at amortized cost 2019 Retail Corporate Credit card Others 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired Total Beginning balance W 114,279,870 6,820,058 348,722 129,468,766 21,782,590 919,381 18,155,156 3,830,509 413,175 5,695,187 605,440 15,686 302,334,540 Transfer (from) to 12 months expected credit losses 2,619,036 (2,614,416 ) (4,620 ) 4,093,725 (4,088,373 ) (5,352 ) 320,288 (320,129 ) (159 ) 37,430 (37,430 ) — — Transfer (from) to lifetime expected credit losses (5,385,659 ) 5,406,091 (20,432 ) (16,484,206 ) 16,597,346 (113,140 ) (603,069 ) 603,280 (211 ) (210,161 ) 210,333 (172 ) — Transfer (from) to credit- impaired financial assets (627,950 ) (43,168 ) 671,118 (1,088,270 ) (76,177 ) 1,164,447 (36,483 ) (22,473 ) 58,956 (39,844 ) — 39,844 — Origination 51,784,970 25,296 4,469 75,800,467 480,163 2,485 1,647,393 315,643 305,487 5,495,139 — — 135,861,512 Collection (38,870,803 ) (1,814,003 ) (238,174 ) (57,057,718 ) (9,966,512 ) (395,670 ) (59,799 ) (5,328 ) 253 (5,949,565 ) (149,802 ) (11,979 ) (114,519,100 ) Charge off — — (257,742 ) — — (259,400 ) — — (332,862 ) — — (8,718 ) (858,722 ) Disposal — (5,122 ) (108,624 ) (117,453 ) (3,806 ) (283,747 ) — — — — — (18,398 ) (537,150 ) Others (*1) 320,096 88,420 10,744 583,534 (80,749 ) (50,283 ) (3,880 ) (276,926 ) (404 ) 139,207 927 — 730,686 Business combination (Note 50) 2,466,991 7,752 10,431 392,828 17,180 22,866 — — — — — — 2,918,048 Ending balance W 126,586,551 7,870,908 415,892 135,591,673 24,661,662 1,001,587 19,419,606 4,124,576 444,235 5,167,393 629,468 16,263 325,929,814 (*1) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. (*2) The amount of uncollected loans currently in recovery (principal and interest) is W ii) Other financial assets 2019 12 month credit loss Life time credit loss Impaired Total Beginning balance W 31,508,694 99,461 32,003 31,640,158 Transfer (from) to 12 month expected credit losses 12,685 (12,675 ) (10 ) — Transfer (from) to lifetime expected credit losses (253,546 ) 253,575 (29 ) — Transfer (from) to credit- impaired financial assets (3,124 ) (5,324 ) 8,448 — Origination 62,331,232 29,315 27,281 62,387,828 Collection (51,845,962 ) (259,371 ) (2,036 ) (52,107,369 ) Charge off — — (29,456 ) (29,456 ) Disposal (*2) (182,212 ) (3 ) (1,062 ) (183,277 ) Others (*3) 261,019 42 — 261,061 Business combination (Note 50) 1,416,216 1,497 10,826 1,428,539 Ending balance W 43,245,002 106,517 45,965 43,397,484 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) Included the disposal amount of financial instruments for the purpose of collecting loans for credit concentration risk management of non-current W (*3) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. (c) Changes in allowance for credit loss of loans at amortized cost and other financial assets as of December 31, 2018 and 2019 are as follows: i) Loans at amortized cost 2018 Retail Corporate Credit cards Others (*) 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired Total Beginning balance W 88,167 125,362 160,536 472,685 624,730 609,925 160,478 335,170 278,759 9,283 2,997 3,894 2,871,986 Transfer (from) to 12 month expected credit losses 45,985 (45,516 ) (469 ) 49,898 (49,552 ) (346 ) 57,848 (57,814 ) (34 ) 433 (433 ) — — Transfer (from) to lifetime expected credit losses (5,862 ) 11,415 (5,553 ) (43,180 ) 79,567 (36,387 ) (19,671 ) 19,687 (16 ) (221 ) 221 — — Transfer (from) to credit- impaired financial assets (750 ) (3,551 ) 4,301 (798 ) (34,627 ) 35,425 (1,288 ) (3,793 ) 5,081 (4 ) (140 ) 144 — Provision (reversal) (10,735 ) 369 169,495 (49,962 ) (43,876 ) 203,667 122,112 132,670 166,338 1,165 3,229 10,043 704,515 Charge off — — (227,787 ) — — (312,841 ) — — (308,202 ) — — (2,567 ) (851,397 ) Amortization of discount — — (218 ) — — (17,653 ) — — (2,907 ) — — — (20,778 ) Disposal (302 ) (17 ) (4,242 ) (334 ) (357 ) (52,871 ) — — — — — (2,454 ) (60,577 ) Collection — — 57,065 — — 78,249 — — 175,120 — — 846 311,280 Others (*) (1,208 ) 298 3,331 6,484 6,030 12,515 (149,237 ) (74,155 ) (34,041 ) 14 8 — (229,961 ) Ending balance W 115,295 88,360 156,459 434,793 581,915 519,683 170,242 351,765 280,098 10,670 5,882 9,906 2,725,068 (*) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. ii) Other financial assets 2018 12 months credit loss Life time credit loss Impaired Total Beginning balance W 39,048 7,666 20,166 66,880 Transfer (from) to 12 months expected credit losses 581 (578 ) (3 ) — Transfer (from) to lifetime expected credit losses (212 ) 222 (10 ) — Transfer (from) to credit- impaired financial assets (94 ) (2,209 ) 2,303 — Provision (reversal) (1,998 ) 1,775 24,293 24,070 Charge off — — (20,984 ) (20,984 ) Disposal — (7 ) (2,736 ) (2,743 ) Collection — — 1,815 1,815 Others (*2) 2,602 61 (80 ) 2,583 Ending balance W 39,927 6,930 24,764 71,621 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. i) Loans at amortized cost 2019 Retail Corporate Credit cards Others 12 month Life time Impaired 12 month Life time Impaired 12 month Life time Impaired 12 month Life time Impaired Total Beginning balance W 115,295 88,360 156,459 434,793 581,915 519,683 170,242 351,765 280,098 10,670 5,882 9,906 2,725,068 Transfer (from) to 12 months expected credit losses 18,079 (17,592 ) (487 ) 50,720 (48,295 ) (2,425 ) 55,815 (55,712 ) (103 ) 757 (757 ) — — Transfer (from) to lifetime expected credit losses (9,411 ) 17,342 (7,931 ) (35,790 ) 118,605 (82,815 ) (20,607 ) 20,756 (149 ) (159 ) 289 (130 ) — Transfer (from) to credit- impaired financial assets (942 ) (3,739 ) 4,681 (565 ) (13,332 ) 13,897 (1,250 ) (3,916 ) 5,166 — — — — Provision (reversal) (7,751 ) 19,130 214,260 (43,230 ) (31,265 ) 277,436 57,062 280,047 147,332 (4,067 ) 1,907 37 910,898 Charge off — — (257,742 ) — — (259,400 ) — — (332,862 ) — — (8,718 ) (858,722 ) Amortization of discount — — (274 ) — — (19,396 ) — — (5,541 ) — — — (25,211 ) Disposal — (241 ) (21,561 ) (6 ) (245 ) (30,436 ) — — — — — (820 ) (53,309 ) Collection — — 70,319 — — 62,973 — — 190,738 — — 1,876 325,906 Others (*) 2,484 (15,353 ) 4,522 13,810 (76,711 ) (27,910 ) (87,378 ) (227,692 ) 30,171 300 160 — (383,597 ) Business combination (Note 50) 15,658 3,118 6,792 20 614 17,600 — — — — — — 43,802 Ending balance W 133,412 91,025 169,038 419,752 531,286 469,207 173,884 365,248 314,850 7,501 7,481 2,151 2,684,835 (*) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. ii) Other financial assets 2019 12 months credit loss Life time credit loss Impaired Total Beginning balance W 39,927 6,930 24,764 71,621 Transfer (from) to 12 months expected credit losses 458 (453 ) (5 ) — Transfer (from) to lifetime expected credit losses (231 ) 244 (13 ) — Transfer (from) to credit- impaired financial assets (172 ) (2,310 ) 2,482 — Provision 2,822 2,667 28,456 33,945 Charge off — — (29,456 ) (29,456 ) Collection — — 1,873 1,873 Others (*2) (9,738 ) 9 435 (9,294 ) Business combination (Note 50) 921 185 9,054 10,160 Ending balance W 33,987 7,272 37,590 78,849 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. (d) Changes in deferred loan origination costs for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Beginning balance W 434,746 497,368 Loan origination 235,032 232,943 Amortization (172,410 ) (208,998 ) Business combination (Note 50) — 13,217 Ending balance W 497,368 534,530 |
Property and equipment, net
Property and equipment, net | 12 Months Ended |
Dec. 31, 2019 | |
Property and equipment, net [Abstract] | |
Property and equipment, net | 13. Property and equipment (a) Details of property and equipment as of December 31, 2018 and 2019 are as follows: 2018 Acquisition Accumulated Carrying Land W 1,827,711 — 1,827,711 Buildings 1,173,888 (321,319 ) 852,569 Others 2,002,755 (1,679,149 ) 323,606 W 5,004,354 (2,000,468 ) 3,003,886 2019 Acquisition Accumulated Carrying Land W 1,815,112 — 1,815,112 Buildings 1,167,514 (377,065 ) 790,449 Right-of-use 1,357,206 (244,410 ) 1,112,796 Others 2,130,805 (1,765,834 ) 364,971 W 6,470,637 (2,387,309 ) 4,083,328 (b) Changes in property and equipment for the years ended December 31, 2018 and 2019 are as follows: 2018 Land Buildings Others Total Beginning balance W 1,819,912 883,421 318,439 3,021,772 Acquisitions (*1) 33 14,612 136,244 150,889 Disposals (*1) (17,735 ) (3,282 ) (9,699 ) (30,716 ) Depreciation — (47,207 ) (124,564 ) (171,771 ) Amounts transferred from(to) investment properties 23,972 4,227 — 28,199 Amounts transferred from(to) non-current (32 ) (48 ) — (80 ) Effects of foreign currency movements 1,561 846 3,186 5,593 Ending balance W 1,827,711 852,569 323,606 3,003,886 (*1) W construction-in (*2) Included buildings, land. 2019 Land Buildings Right-of-use Others Total Beginning balance (*1) W 1,827,711 852,569 583,576 313,853 3,577,709 Acquisitions (*2) 69,045 16,946 805,783 184,630 1,076,404 Disposals (*2) (249 ) (1,719 ) (12,595 ) (29,081 ) (43,644 ) Depreciation — (55,450 ) (298,538 ) (125,669 ) (479,657 ) Amounts transferred from(to) investment property (81,311 ) (23,262 ) — — (104,573 ) Amounts transferred from(to) intangible assets — — — 271 271 Amounts transferred from(to) non-current (410 ) (45 ) — — (455 ) Effects of foreign currency movements 326 1,410 2,981 9,314 14,031 Business combination (Note 50) — — 31,589 11,653 43,242 Ending balance W 1,815,112 790,449 1,112,796 364,971 4,083,328 (*1) The 9,753 million is transferred from other property and equipment to right-of-use (*2) W construction-in (*3) Included buildings, and land. (c) Insured assets and liability insurance as of December 31, 2019 are as follows: 2019 Type of insurance Insured assets Amount covered Insurance company Comprehensive insurance for financial institutions Cash(including 23,200 Samsung Fire & Marine Insurance Co., Ltd., etc. Comprehensive Property insurance Property Total Risk, 1,315,820 Samsung Fire & Marine Insurance Co., Ltd., etc. Fire insurance Business property 22,141 Meritz Fire & Marine Insurance Co., Ltd., etc. Compensation liability insurance for officers Officer liability of 60,000 Meritz Fire & Marine Insurance Co., Ltd., etc. Compensation liability insurance for employee accident Employee 70,841 Meritz Fire & Marine Insurance Co., Ltd., etc. Burglary insurance Cash and securities 83,485 Samsung Fire & Marine Insurance Co., Ltd., etc. Others Personal 32,260 Samsung Fire & Marine Insurance Co., Ltd. |
Intangible assets, net
Intangible assets, net | 12 Months Ended |
Dec. 31, 2019 | |
Intangible assets, net [Abstract] | |
Intangible assets, net | 14. Intangible assets (a) Details of intangible assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Goodwill W 3,903,518 4,690,049 Software 102,393 129,235 Development cost 82,536 144,100 Others 231,687 595,330 W 4,320,134 5,558,714 (b) Changes in intangible assets for the years ended December 31, 2018 and 2019 are as follows: 2018 Goodwill Software Development Others Total Beginning balance W 3,901,260 83,829 75,322 212,910 4,273,321 Acquisitions — 56,009 38,230 69,501 163,740 Disposals — (334 ) (5,880 ) (7,117 ) (13,331 ) Impairment (*1) — — (706 ) (362 ) (1,068 ) Amortization (*2) — (40,792 ) (24,430 ) (41,957 ) (107,179 ) Effects of foreign currency movements — 3,681 — (1,288 ) 2,393 Business combination 2,258 — — — 2,258 Ending balance W 3,903,518 102,393 82,536 231,687 4,320,134 (*1) Memberships such as golf and condominium memberships are intangible assets that cannot be limited to a specific period of time. If the market value of the exchanges is less than the carrying amount at the end of the reporting period, the impairment loss is recognized. (*2) Included in general administrative expense and other operating income of the consolidated comprehensive income. 2019 Goodwill Software Development Others Total Beginning balance W 3,903,518 102,393 82,536 231,687 4,320,134 Acquisitions — 56,834 71,713 675,070 803,617 Business combination (Note 50) 786,531 9,469 30,435 44,850 871,285 Disposals — (428 ) (1,310 ) (16,476 ) (18,214 ) Amounts transferred from(to) property and equipment — 697 (968 ) — (271 ) Impairment (*1)(*2) — — (474 ) (151,169 ) (151,643 ) Amortization (*3) — (40,578 ) (37,832 ) (189,533 ) (267,943 ) Effects of foreign currency movements — 848 — 901 1,749 Ending balance W 4,690,049 129,235 144,100 595,330 5,558,714 (*1) The Group reviewed the recoverable value of intangible assets related to the rights to be the depository bank of local governments due to the performance below forecast and future prospects. For the year ended December 31, 2019, the impairment loss amounted to W non-operating (*2) Memberships such as golf and condominium memberships are intangible assets that cannot be limited to a specific period of time. If the market value of the exchanges is less than the carrying amount at the end of the reporting period, the impairment loss is recognized. (*3) Included in general administrative expense and other operating income of the consolidated statements of comprehensive income. (c) Goodwill i) Goodwill allocated in the Group’s CGUs as of December 31, 2018 and 2019 2018 2019 Banking W 810,058 810,058 Credit card 2,773,231 2,880,383 Securities 7,904 7,904 Life insurance (Shinhan Life Insurance) 275,371 275,371 Life insurance (Orange Life Insurance Co., Ltd.) — 564,576 Others 36,954 151,757 W 3,903,518 4,690,049 ii) Changes in goodwill for the years ended December 31, 2018 and 2019 2018 2019 Beginning balance W 3,901,260 3,903,518 Acquisitions through business combinations (*1)(*2) 2,258 786,531 Ending balance W 3,903,518 4,690,049 (*1) recognized as a result of the Group’s acquisitions of Orange Life Insurance Co., Ltd.(“Orange Life”), Asia Trust Co., and the Shinhan Card’s acquisition of the new business for the year ended December 31, 2019 (Note 50). (*2) recognized as a result of the Shinhan Financial Investment Corp. acquisition of the new business for the year ended December 31, 2018. iii) Goodwill impairment test The recoverable amounts of each CGU were evaluated based on their respective value in use. • Explanation on evaluation method The income approach was applied when evaluating the recoverable amounts based on value in use, considering the characteristics of each unit or group of CGU. • Projection period When evaluating the value in use, 5.0~5.5 years of cash flow estimates were used in projection and the value thereafter was reflected as terminal value. 30 years and 60 years of cash flow estimates for Shinhan Life and Orange Life, respectively were applied and the present value of the future cash flows thereafter is not considered as it is insignificant. • Discount rates and terminal growth rates The required rates of return expected by shareholders were applied to the discount rates by calculating the cost of capital which comprises a risk-free interest rate, a market risk premium and systemic risk (beta factor). Expected terminal growth rate is on the basis of inflation rates. • Discount rates and terminal growth rates applied to each CGU are as follows: Discount rates(%) Terminal growth rate(%) Banking 8.3~13.9 1.0~3.0 Credit card 8.9~13.3 1.0~3.0 Securities 12.1~13.3 3.0 Life insurance (Shinhan Life Insurance) 8.0 — Life insurance (Orange Life Insurance Co., Ltd.) 8.0 — Others 9.2~14.0 1.0 iv) Key assumptions Key assumptions used in the discounted cash flow calculations of CGUs (other than life insurance components) are as follows: 2019 2020 2021 2022 2023 2024 CPI growth(%) 0.7 1.1 1.6 1.8 1.7 1.7 Private consumption growth(%) 2.0 2.0 2.2 2.5 2.4 2.4 Real GDP growth(%) 1.9 2.2 2.4 2.7 2.6 2.6 Key assumptions used in the discounted cash flow calculations of life insurance components are as follows: Key assumptions Rate of return on investment(%) 2.45~2.75 Risk-based capital ratio(%) 150.00 The values for the CPI growth rate, real retail sales growth rate, real GDP growth rate, rate of return on investment and risk-based capital ratio are based on a combination of internal and external analysis. v) Total recoverable amount and total carrying value of CGUs to which goodwill has been allocated, are as follows: Amount Total recoverable amount W 46,896,966 Total carrying value 41,902,106 W 4,994,860 |
Investments in associates
Investments in associates | 12 Months Ended |
Dec. 31, 2019 | |
Investments in associates [Abstract] | |
Investments in associates | 15. Investments in associates (a) Investments in associates as of December 31, 2018 and December 31, 2019 are as follows: Investees Country Reporting date Ownership (%) 2018 2019 BNP Paribas Cardif Life Insurance (*1),(*3) Korea September 30 14.99 14.99 Songrim Partners. (*1),(*4) ” December 31 35.34 35.34 Daewontos Co., Ltd. (*7) ” — 36.33 — Neoplux Technology Valuation Investment Fund (*1) ” September 30 33.33 33.33 Partners 4th Growth Investment Fund (*1) ” ” 25.00 25.00 KTB Newlake Global Healthcare PEF (*1) ” ” 30.00 30.00 JAEYANG INDUSTRY (*7) ” — 25.90 — Daekwang Semiconductor Co., Ltd. (*1),(*4) ” September 30 20.94 20.94 Shinhan-Neoplux Energy Newbiz Fund (*1) ” September 30 23.33 23.33 Shinhan-Albatross tech investment Fund ” December 31 50.00 50.00 KCLAVIS Meister Fund No.17 ” ” 26.09 26.09 Plutus-SG ” ” 26.67 26.67 SG ARGES Private Equity Fund No.1 (*7) ” — 24.06 — Eum Private Equity Fund No.3 ” December 31 20.76 20.76 KTB Confidence Private Placement ” ” 30.29 31.43 Meritz AI-SingA330-A ” ” 23.89 23.89 Meritz AI-SingA330-B ” ” 20.16 20.16 VOGO Debt Strategy Qualified INV Private R/E INV TR 4 ” ” 20.00 20.00 Platform Partners brick save Private Investment trust (*7) ” — 98.77 — Shinhan-Midas Donga Secondary Fund ” December 31 50.00 50.00 ShinHan – Soo Young Entrepreneur Investment Fund No.1 ” ” 24.00 24.00 Synergy-Shinhan Mezzanine New Technology Investment Fund ” ” 47.62 47.62 Shinhan Praxis K-Growth ” ” 18.87 18.87 Credian Healthcare Private Equity Fund II ” ” 34.07 34.07 Kiwoom Milestone Professional Private Real Estate Trust 19 ” ” 50.00 50.00 AIP EURO Green Private Real Estate Trust No.3 ” ” 21.28 21.28 Brain Professional Private Trust No.4 (*7) ” — 27.50 — Hanhwa US Equity Strategy Private Real Estate Fund No.1 ” December 31 44.84 44.84 Brain KS Qualified Privately Placed Fund No.6 (*7) ” — 50.00 — Shinhan Global Healthcare Fund 1 (*5) ” December 31 4.41 4.41 JB Power TL Investment Type Private Placement Special Asset Fund 7 ” ” 33.33 33.33 IBK AONE convertible 1 ” ” 47.25 47.25 Rico synergy collabo Multi-Mezzanine Korea December 31 50.03 50.03 KB NA Hickory Private Special Asset Fund ” ” 37.50 37.50 GB Professional Private Investment Trust 6 (*7) ” — 94.51 — Koramco Europe Core Private Placement Real Estate Fund No.2-2 ” December 31 44.02 44.02 SHBNPP Private Korea Equity Long-Short Professional Feeder (*10) ” — 21.52 — Shinhan-Stonebridge Petro PEF (*5) ” December 31 1.82 1.82 BNP Paribas Cardif General Insurance (*1),(*2) ” September 30 10.00 10.00 Axis Global Growth New Technology Investment Association ” December 31 31.85 31.85 Polaris No7 Start up and Venture Private Equity Fund ” ” 28.57 28.57 Hermes Private Investment Equity Fund ” ” 29.17 29.17 SHC ULMUS Fund No.1 ” ” 29.41 29.41 Shinhan-Nvestor Liquidity Solution Fund ” ” 24.92 24.92 Shinhan AIM FoF Fund 1a ” ” 24.91 25.00 Daishin Heim Qualified Investor Private Investment Trust No.1808 (*7) ” — 34.48 — Heungkuk High Class Professional Trust Private Fund 37 (*7) ” — 50.00 — IGIS Global Credit Fund 150-1 ” December 31 25.11 25.00 GX Shinhan Intervest 1st Private Equity Fund ” ” 25.27 25.27 Soo Commerce Platform Growth Fund ” ” 24.62 24.62 Partner One Value up I Private Equity Fund ” ” 27.91 27.91 Genesis No.1 Private Equity Fund ” ” 22.80 22.80 GMB ICT New Technology Investment Fund ” ” 26.75 26.75 Korea Omega Project Fund III ” ” 23.53 23.53 Soo Delivery Platform Growth Fund ” ” 30.00 30.00 Genesis North America Power Company No.1 PEF ” ” 39.92 39.92 Hyungje art printing (*1),(*4) ” ” 31.54 31.54 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 ” ” 23.33 23.33 Shinhan-Rhinos 1 Fund ” ” — 22.48 Pacific Private Investment Trust No.20 ” ” — 21.74 Susung Mezzanine project P1 Private Investment Trust ” ” — 41.18 Korea Finance Security (*1),(*9) ” September 30 — 14.91 MIEL CO.,LTD (*4) ” December 31 — 28.77 AIP Transportation Specialized Privately Placed Fund Trust #1 ” ” — 35.73 Lime Neptune Professional Private 6 ” ” — 50.00 PCC S/W 2nd Fund ” ” — 29.56 E&Healthcare Investment Fund No.6 (*5) ” ” — 20.37 One Shinhan Global Fund 1 (*5) ” ” — 19.98 Kiwoom-Shinhan Innovation Fund I Korea December 31 — 50.00 Daishin-K&T ” ” — 31.25 Midas Asset Global CRE Debt Private Fund No.6 ” ” — 20.05 Richmond Private Investment Trust No.82 (*6) ” ” — 60.00 Tiger Alternative Real Estate Professional Private5 ” ” — 48.71 Samchully Midstream Private Placement Special Asset Fund 5-4 ” ” — 42.92 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 ” ” — 20.00 AUCTUS FITRIN Corporate Recovery Private Equity Fund ” ” — 21.43 NH-Amundi ” ” — 30.00 Pacific Private Real Estate Fund Investment Trust No.30 ” ” — 37.50 Jarvis Memorial Private Investment Trust 1 (*6) ” ” — 99.01 Mastern Private Investment Trust 68 (*6) ” ” — 53.76 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 (*8) ” ” — 60.00 Milestone Private Real Estate Fund 3 (Derivative Type) ” ” — 32.06 IGIS Private Real Estate Investment Trust 286 (2 class) ” ” — 41.56 Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) ” ” — 31.31 Lime Pricing Private Equity Fund ” ” — 25.85 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 ” ” — 21.27 DS Solid.II Hedge Fund ” ” — 27.41 Hana Semiconductor New Technology Fund ” ” — 24.30 J&Magnet Startup Venture Specialized Private Equity Fund (*1) ” September 30 — 24.39 Cape IT Fund No.3 ” December 31 — 32.89 Vogo Realty Partners Private Real Estate Fund V ” ” — 21.64 IL GU FARM CO.,LTD (*1)(*4) — ” — 28.47 Korea Credit Bureau (*1)(*9) ” September 30 — 9.00 SBC PFV Co., Ltd (*11) ” December 31 — 25.00 Sprott Global Renewable Private Equity Fund II ” ” — 23.10 NH-amundi ” ” — 50.00 IMM Global Private Equity Fund ” ” — 31.85 HANA Alternative Estate Professional Private122 (*8) ” ” — 75.19 Hanwha-Incus Plus New Technology Fund No.1 ” ” — 42.64 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] ” ” — 45.96 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust (*8) Korea December 31 — 57.50 PSA EMP Private Equity Fund ” ” — 28.99 Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 (*8) ” ” — 52.28 SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] ” ” — 25.70 SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] ” ” — 25.42 BRAIN DO PROFESSIONALE PRIVATE No. 27 ” ” — 29.13 VISION US Muni US Local Debt Opportunities Professional Private1(S) ” ” — 25.00 (*1) The latest financial statements were used for the equity method since the financial statements as of December 31, 2019 were not available. Significant trades and events occurred within the period were properly reflected. (*2) The Group applies the equity method accounting as the Group has significant influence on the financial and operating policies of the investee through the ability to elect investees’ board members and representation in decision making bodies of the investee. (*3) The Group applies the equity method accounting as the Group has a significant influence on the investees through important business transactions. (*4) As a part of the rehabilitation process, the Group acquired shares through the conversion of equity investments, as the Group cannot exercise voting rights during the process, the Group has classified the shares as investments at fair value through profit or loss. The Group reclassified Securities at fair value through profit or loss to investments in associates as the reorganization procedures were completed and now the Group can normally exercise its voting rights to the investees. (*5) As a managing partner, the Group has a significant influence over the investees. (*6) As a limited partner, the Group does not have an ability to participate in policy-making processes to obtain economic benefit from the investees that would allow the Group to control the entity. (*7) Excluded from the investments in associates due to full or partial disposal of shares, or loss of significant influence. (*8) Although the ownership interests were more than 50%, the Group applies the equity method accounting as the Group does not have an ability to participate in the financial and operating policy-making process. (*9) Although the ownership percentages were less than 20%, the Group applies the equity method accounting since it participates in policy-making processes and therefore can exercise significant influence on investees. (*10) The investment in the associate is consolidated due to the additional acquisition of the shares from the year ended December 31, 2019. (*11) The rate of Group’s voting rights is 4.65%. (b) Changes in investments in associates for the years ended December 31, 2018 and 2019 were as follows: 2018 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance BNP Paribas Cardif Life Insurance W 52,616 (2,043 ) 783 (1,540 ) — 49,816 Daewontos Co., Ltd. (*1) — — — — — — Songrim Partners. (*1) 48 — (48 ) — — — Neoplux Technology Valuation Investment Fund 13,470 6,000 (242 ) (490 ) — 18,738 JAEYOUNG SOLUTEC CO., LTD. 3,849 (2,865 ) (836 ) (148 ) — — Partners 4th Growth Investment Fund 13,390 2,597 625 — — 16,612 JAEYANG INDUSTRY (*1) — — — — — — KTB Newlake Global Healthcare PEF 2,653 7,470 (238 ) — — 9,885 DAEKWANG SEMICONDUCTOR CO., LTD. 3,824 — (490 ) — — 3,334 Shinhan-Neoplux Energy Newbiz Fund 1,400 2,800 (226 ) — — 3,974 Shinhan-Albatross Tech Investment Fund 2,672 6,000 (70 ) 306 — 8,908 Asia Pacific No.39 Ship Investment Co., Ltd. 4,682 (4,803 ) 121 — — — KCLAVIS Meister Fund No.17 3,039 — 44 — — 3,083 SG No.9 Corporate Recovery Private Equity Fund 3,963 (3,102 ) 566 — — 1,427 Plutus-SG 4,251 (132 ) 133 — — 4,252 SG ARGES Private Equity Fund No.1 6,422 (2,295 ) 214 — — 4,341 OST Progress- 2 Fund 4,895 (4,895 ) — — — — Eum Private Equity Fund No.3 4,925 (277 ) 241 — — 4,889 Richmond Private Yong in Retail Facility Real Estate Fund No.1 8,101 (10,286 ) 2,185 — — — KTB Confidence Private Placement 6,403 (389 ) 387 (1,099 ) — 5,302 Meritz AI-SingA330-A 6,757 (1,518 ) 193 — — 5,432 Meritz AI-SingA330-B 8,387 (305 ) 347 — — 8,429 Pine Asia Unsecured Individual Rehabilitation Bond Fund 18 6,012 (6,035 ) 23 — — — VOGO DEBT STRATEGY QUALIFIED INV PRIVATE R/E INV TR 4 1,638 3,060 133 — — 4,831 Platform Partners Brick Save Private Investment Trust 8,069 (496 ) 547 — — 8,120 Synergy-Shinhan Mezzanine New Technology Investment Fund 4,999 5,000 150 — — 10,149 The Asia Pacific Capital Fund II L.P. 7,307 (3,004 ) (656 ) 2,602 (5,849 ) 400 Shinhan Praxis K-Growth W 18,954 (7,473 ) 5,046 — — 16,527 Credian Healthcare Private Equity Fund II W 3,813 — 740 — — 4,553 Kiwoom Milestone Professional Private Real Estate Trust 19 10,408 (199 ) 210 — — 10,419 AIP EURO GREEN PRIVATE REAL ESTATE TRUST No.3 20,460 (1,253 ) 1,337 — — 20,544 Brain Professional Private Trust No.4 5,847 (1,274 ) 671 — — 5,244 Hanhwa US Equity Strategy Private Real Estate Fund No.1 25,479 (2,000 ) 2,753 — — 26,232 Brain KS Qualified Privately Placed Fund No.6 4,805 — 292 — — 5,097 M360 CRE Income Fund 153,905 (171,215 ) 6,183 11,127 — — Shinhan Global Healthcare Fund 1 3,407 — (122 ) — — 3,285 JB Power TL Investment Type Private Placement Special Asset Fund 7 18,690 (2,075 ) 869 — — 17,484 IBK AONE convertible 1 5,122 — 784 — — 5,906 Rico synergy collabo Multi-Mezzanine 5,026 — 264 — — 5,290 KB NA Hickory Private Special Asset Fund 34,091 (1,560 ) 1,829 — — 34,360 GB Professional Private Investment Trust 6 8,600 — (12 ) — — 8,588 Koramco Europe Core Private Placement Real Estate Fund No.2-2 20,760 (2,357 ) 213 — — 18,616 SHBNPP Private Korea Equity Long-Short Professional Feeder 4,861 9,412 97 — — 14,370 Shinhan-Stonebridge Petro PEF 19,201 (1,133 ) 613 — — 18,681 BNP Paribas Cardif General Insurance 4,429 — (1,026 ) 20 — 3,423 Axis Global Growth New Technology Investment Association 4,953 — (78 ) — — 4,875 Polaris No7 Start up and Venture Private Equity Fund 4,359 — (21 ) — — 4,338 Hermes Private Investment Equity Fund 17,497 (5,158 ) (5,274 ) — — 7,065 Shinhan AIM FoF Fund 1a — 4,125 226 — — 4,351 Daishin Heim Qualified Investor Private Investment Trust No.1808 — 9,786 340 — — 10,126 Heungkuk High Class Professional Trust Private Fund 37 — 9,178 260 — — 9,438 IGIS Global Credit Fund 150-1 — 8,529 367 — — 8,896 GX SHINHAN INTERVEST 1st Private Equity Fund — 34,900 (3,069 ) — — 31,831 Soo Commerce Platform Growth Fund W — 6,500 (122 ) — — 6,378 Partner One Value up I Private Equity Fund W — 12,000 (61 ) — — 11,939 Genesis No.1 Private Equity Fund — 46,068 (310 ) — — 45,758 GMB ICT New Technology Investment Fund — 8,000 (66 ) — — 7,934 Soo Delivery Platform Growth Fund — 9,000 (17 ) — — 8,983 Genesis North America Power Company No.1 PEF — 21,592 (768 ) — — 20,824 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 — 6,300 (96 ) — — 6,204 Others (*2) 52,855 37,442 1,550 2 — 91,849 W 631,294 17,617 17,488 10,780 (5,849 ) 671,330 (*1) The Group has stopped recognizing its equity method income or loss due to the investees’ cumulative loss. (*2) Included disposal by account reclassification involving non-cash 2019 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance BNP Paribas Cardif Life Insurance W 49,816 (373 ) (517 ) 3,660 — 52,586 Songrim Partners. (*1) — — — — — — Neoplux Technology Valuation Investment Fund 18,738 (1,661 ) (693 ) — — 16,384 Partners 4th Growth Investment Fund 16,612 (1,219 ) (476 ) — — 14,917 KTB Newlake Global Healthcare PEF 9,885 1,500 (105 ) — — 11,280 Daekwang Semiconductor Co., Ltd. 3,334 — 52 2 — 3,388 Shinhan-Neoplux Energy Newbiz Fund 3,974 4,200 (294 ) — — 7,880 Shinhan-Albatross tech investment Fund 8,908 — 132 (306 ) — 8,734 KCLAVIS Meister Fund No.17 3,083 (1,801 ) (84 ) — — 1,198 Plutus-SG 4,252 (132 ) 111 — — 4,231 SG ARGES Private Equity Fund No.1 4,341 (4,796 ) 455 — — — Eum Private Equity Fund No.3 4,889 (2,476 ) 1,161 — — 3,574 KTB Confidence Private Placement 5,302 (215 ) 980 — — 6,067 Meritz AI-SingA330-A 5,432 (1,266 ) 90 — — 4,256 Meritz AI-SingA330-B 8,429 242 245 — — 8,916 VOGO Debt Strategy Qualified INV Private R/E INV TR 4 4,831 4,820 279 — — 9,930 Platform Partners brick save Private Investment trust 8,120 (8,197 ) 77 — — — Shinhan-Midas Donga Secondary Fund 2,061 1,750 (325 ) — — 3,486 ShinHan – Soo Young Entrepreneur Investment Fund No.1 2,554 1,968 27 — — 4,549 Synergy-Shinhan Mezzanine New Technology Investment Fund 10,149 (6,492 ) 255 — — 3,912 Shinhan Praxis K-Growth 16,527 (8,745 ) 2,520 — — 10,302 Credian Healthcare Private Equity Fund II 4,553 (2,526 ) 350 — — 2,377 Kiwoom Milestone Professional Private Real Estate Trust 19 10,419 (241 ) 229 — — 10,407 AIP EURO Green Private Real Estate Trust No.3 20,544 (1,248 ) 1,588 — — 20,884 Brain Professional Private Trust No.4 5,244 (5,175 ) (69 ) — — — Hanhwa US Equity Strategy Private Real Estate Fund No.1 W 26,232 (1,866 ) 1,598 — — 25,964 Brain KS Qualified Privately Placed Fund No.6 W 5,097 (5,041 ) (56 ) — — — Shinhan Global Healthcare Fund 1 3,285 — (76 ) — — 3,209 JB Power TL Investment Type Private Placement Special Asset Fund 7 17,484 (1,513 ) 829 — — 16,800 IBK AONE convertible 1 5,906 — 171 — — 6,077 Rico synergy collabo Multi-Mezzanine 5,290 (2,501 ) 428 — — 3,217 KB NA Hickory Private Special Asset Fund 34,360 445 1,125 — — 35,930 GB Professional Private Investment Trust 6 8,588 (8,588 ) — — — — Koramco Europe Core Private Placement Real Estate Fund No.2-2 18,616 (1,458 ) 2,404 — — 19,562 SHBNPP Private Korea Equity Long-Short Professional Feeder 14,370 (14,325 ) (45 ) — — — Shinhan-Stonebridge Petro PEF 18,681 (19,589 ) 909 — — 1 BNP Paribas Cardif General Insurance 3,423 — (1,296 ) (14 ) — 2,113 Axis Global Growth New Technology Investment Association 4,875 (1,592 ) (78 ) — — 3,205 Polaris No7 Start up and Venture Private Equity Fund 4,338 (2,300 ) 265 — — 2,303 Hermes Private Investment Equity Fund 7,065 — (689 ) — — 6,376 SHC ULMUS Fund No.1 2,890 — 259 — — 3,149 Shinhan-Nvestor Liquidity Solution Fund 2,689 2,700 (524 ) — — 4,865 Shinhan AIM FoF Fund 1a 4,351 2,363 528 — — 7,242 Daishin Heim Qualified Investor Private Investment Trust No.1808 10,126 (10,297 ) 171 — — — Heungkuk High Class Professional Trust Private Fund 37 9,438 (9,505 ) 67 — — — IGIS Global Credit Fund 150-1 8,896 781 41 — — 9,718 GX Shinhan Intervest 1st Private Equity Fund 31,831 — 1,335 — — 33,166 Soo Commerce Platform Growth Fund 6,378 — (35 ) — — 6,343 Partner One Value up I Private Equity Fund 11,939 — (48 ) — — 11,891 Genesis No.1 Private Equity Fund 45,758 404 4,988 — — 51,150 GMB ICT New Technology Investment Fund 7,934 — (80 ) — — 7,854 Korea Omega Project Fund III W 1,992 — 1,024 — — 3,016 Soo Delivery Platform Growth Fund W 8,983 (171 ) 110 — — 8,922 Genesis North America Power Company No.1 PEF 20,824 (4,035 ) 1,486 — — 18,275 Hyungje art printing (*1) — — — — — — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 6,204 14,147 361 — — 20,712 Shinhan-Rhinos 1 Fund — 3,000 29 — — 3,029 Pacific Private Investment Trust No.20 — 3,819 257 — — 4,076 Susung Mezzanine project P1 Private Investment Trust — 4,000 1,128 — — 5,128 Korea Finance Security (*2) — 3,448 (213 ) — — 3,235 MIEL CO.,LTD (*3) — — — — — — AIP Transportation Specialized Privately Placed Fund Trust #1 — 31,136 444 — — 31,580 Lime Neptune Professional Private 6 — 5,000 63 — — 5,063 PCC S/W 2nd Fund — 3,000 1 — — 3,001 E&Healthcare Investment Fund No.6 — 7,030 746 — — 7,776 One Shinhan Global Fund 1 — 4,520 (79 ) — — 4,441 Kiwoom-Shinhan Innovation Fund I — 7,500 (216 ) — — 7,284 Daishin-K&T — 7,000 57 — — 7,057 Midas Asset Global CRE Debt Private Fund No.6 — 23,194 537 — — 23,731 Richmond Private Investment Trust No.82 — 14,569 551 — — 15,120 Tiger Alternative Real Estate Professional Private5 — 19,876 (56 ) — — 19,820 Samchully Midstream Private Placement Special Asset Fund 5-4 — 29,436 1,306 — — 30,742 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 — 52,048 1,783 — — 53,831 AUCTUS FITRIN Corporate Recovery Private Equity Fund — 14,250 108 — — 14,358 NH-Amundi — 17,769 728 — — 18,497 Pacific Private Real Estate Fund Investment Trust No.30 — 14,236 580 — — 14,816 Jarvis Memorial Private Investment Trust 1 W — 9,888 278 — — 10,166 Mastern Private Investment Trust 68 W — 9,764 235 — — 9,999 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 — 4,434 (37 ) — — 4,397 Milestone Private Real Estate Fund 3 (Derivative Type) — 17,016 170 — — 17,186 IGIS Private Real Estate Investment Trust 286 (2 class) — 10,100 (332 ) — — 9,768 Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) — 9,018 (104 ) — — 8,914 Lime Pricing Private Equity Fund — 8,400 (100 ) — — 8,300 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 — 39,376 2,615 — — 41,991 DS Solid.II Hedge Fund — 4,300 (177 ) — — 4,123 Hana Semiconductor New Technology Fund — 13,000 (144 ) — — 12,856 J&Magnet Startup Venture Specialized Private Equity Fund — 6,000 (21 ) — — 5,979 Cape IT Fund No.3 — 10,000 (33 ) — — 9,967 Vogo Realty Partners Private Real Estate Fund V — 10,611 (235 ) — — 10,376 IL GU FARM CO.,LTD — — — — — — Korea Credit Bureau (*2) — 4,500 2,312 — — 6,812 SBC PFV Co., Ltd — 20,000 — — — 20,000 Sprott Global Renewable Private Equity Fund II — 20,131 (1,115 ) — — 19,016 NH-amundi — 49,530 (1,372 ) — — 48,158 IMM Global Private Equity Fund — 28,945 (20 ) — — 28,925 HANA Alternative Estate Professional Private122 — 28,487 (2,282 ) — — 26,205 Hanwha-Incus Plus New Technology Fund No.1 — 5,500 (1 ) — — 5,499 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] — 51,293 — — — 51,293 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust — 146,045 4,272 — — 150,317 PSA EMP Private Equity Fund W — 10,000 (73 ) — — 9,927 Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 W — 28,314 1,149 — — 29,463 SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] — 5,727 — — — 5,727 SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] — 5,729 — — — 5,729 BRAIN DO PROFESSIONALE PRIVATE No. 27 — 3,000 65 — — 3,065 VISION US Muni US Local Debt Opportunities Professional Private1(S) — 9,500 369 — — 9,869 Others 81,490 (14,513 ) 18,954 — — 85,931 W 671,330 724,902 53,287 3,342 — 1,452,861 (*1) The Group has stopped recognizing its equity method income or loss due to the investees’ cumulative loss. (*2) Classified as investments in associates without cash transactions. (*3) No gains or losses from the equity method investees have been recognized after the acquisition of a debt-to-equity (c) The statement of financial information as of and for the year ended December 31, 2018 and 2019 were as follows: 2018 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) BNP Paribas Cardif Life Insurance W 3,995,746 3,662,567 53,756 5,191 (10,268 ) (5,077 ) Neoplux Technology Valuation Investment Fund 57,018 804 390 (724 ) (1,969 ) (2,693 ) Partners 4th Growth Investment Fund 67,403 954 4,424 3,025 — 3,025 KTB Newlake Global Healthcare PEF 32,508 123 69 (793 ) — (793 ) DAEKWANG SEMICONDUCTOR CO., LTD. 25,459 9,537 15,794 (2,341 ) — (2,341 ) Shinhan-Neoplux Energy Newbiz Fund 17,347 315 19 (968 ) — (968 ) Shinhan-Albatross Tech Investment Fund 18,009 182 299 (435 ) 917 482 KCLAVIS Meister Fund No.17 11,866 47 398 167 — 167 SG No.9 Corporate Recovery Private Equity Fund 5,566 181 — 2,136 — 2,136 Plutus-SG 16,012 69 778 499 — 499 SG ARGES Private Equity Fund No.1 18,085 46 — 888 — 888 Eum Private Equity Fund No.3 23,552 5 1,667 1,311 — 1,311 KTB Confidence Private Placement 38,559 21,054 506 256 (3,629 ) (3,373 ) Meritz AI-SingA330-A 22,739 1 1,451 62 — 62 Meritz AI-SingA330-B 41,809 2 3,027 1,044 — 1,044 VOGO DEBT STRATEGY QUALIFIED INV PRIVATE R/E INV TR 4 24,174 15 3,046 1,165 — 1,165 Platform Partners brick save Private Investment trust 8,286 64 809 763 — 763 Synergy-Shinhan Mezzanine New Technology Investment Fund 21,312 — 553 331 — 331 The Asia Pacific Capital Fund II L.P. 1,674 86 1 (25,828 ) — (25,828 ) Shinhan Praxis K-Growth 87,897 307 31,059 26,381 — 26,381 Credian Healthcare Private Equity Fund II 13,408 47 2,364 2,171 — 2,171 Kiwoom Milestone Professional Private Real Estate Trust 19 57,678 36,839 3,383 422 — 422 AIP EURO GREEN PRIVATE REAL ESTATE TRUST No.3 96,624 86 18,700 6,287 — 6,287 Brain Professional Private Trust No.4 19,113 46 4,306 2,435 — 2,435 Hanhwa US Equity Strategy Private Real Estate Fund No.1 58,575 77 10,098 6,139 — 6,139 Brain KS Qualified Privately Placed Fund No.6 10,089 — 812 477 — 477 Shinhan Global Healthcare Fund 1 W 74,409 — 4 (2,757 ) — (2,757 ) JB Power TL Investment Type Private Placement Special Asset Fund 7 52,627 174 9,878 2,607 — 2,607 IBK AONE Convertible 1 12,807 307 2,042 1,660 — 1,660 Rico Synergy Collabo Multi-Mezzanine 3 10,736 161 686 529 — 529 KB NA Hickory Private Special Asset Fund 91,694 67 9,601 4,877 — 4,877 GB Professional Private Investment Trust 6 9,088 1 1 (13 ) — (13 ) Koramco Europe Core Private Placement Real Estate Fund No.2-2 44,491 2,202 6,470 878 — 878 SHBNPP Private Korea Equity Long-Short 77,465 10,728 18,729 728 — 728 Shinhan-Stonebridge Petro PEF 1,025,884 807 36,968 33,616 — 33,616 BNP Paribas Cardif General Insurance 51,211 16,986 10,972 (10,264 ) 196 (10,068 ) Axis Global Growth New Technology Investment Association 15,308 — 1 (245 ) — (245 ) Polaris No7 Start up and Venture Private Equity Fund 15,193 10 — (75 ) — (75 ) Hermes Private Investment Equity Fund 24,233 8 6 (18,025 ) — (18,025 ) Shinhan AIM FoF Fund 1a 17,478 11 3,004 342 — 342 Daishin Heim Qualified Investor Private Investment Trust No.1808 29,770 405 806 741 — 741 Heungkuk High Class Professional Trust Private Fund 37 20,523 1,646 1,045 1,005 — 1,005 IGIS Global Credit Fund 150-1 35,453 27 3,457 214 — 214 GX SHINHAN INTERVEST 1st Private Equity Fund 125,954 — 6 (12,146 ) — (12,146 ) Soo Commerce Platform Growth Fund 25,905 3 — (497 ) — (497 ) Partner One Value up I Private Equity Fund 42,776 — 326 (224 ) — (224 ) Genesis No.1 Private Equity Fund 201,103 434 — (1,360 ) — (1,360 ) GMB ICT New Technology Investment Fund 29,657 — 3 (242 ) — (242 ) Soo Delivery Platform Growth Fund 29,946 2 — (56 ) — (56 ) Genesis North America Power Company No.1 PEF 52,393 223 1 (1,922 ) — (1,922 ) SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 26,826 237 2 (411 ) — (411 ) (*) Excluded the associates’ financial information that are not subject to recognizing equity method income or loss or financial information is not available. 2019 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) BNP Paribas Cardif Life Insurance W 3,896,875 3,545,682 37,067 (3,919 ) 24,402 20,483 Neoplux Technology Valuation Investment Fund 49,890 738 3,953 (2,078 ) — (2,078 ) Partners 4th Growth Investment Fund 60,775 1,106 14 (1,904 ) — (1,904 ) KTB Newlake Global Healthcare PEF 37,187 151 387 (349 ) — (349 ) Daekwang Semiconductor Co., Ltd. 23,507 7,328 1,248 248 9 257 Shinhan-Neoplux Energy Newbiz Fund 33,791 18 26 (1,259 ) — (1,259 ) Shinhan-Albatross tech investment Fund 17,681 182 1,263 551 (917 ) (366 ) KCLAVIS Meister Fund No.17 4,689 96 425 (322 ) — (322 ) Plutus-SG 16,006 138 700 419 — 419 Eum Private Equity Fund No.3 17,243 27 6,305 5,604 — 5,604 KTB Confidence Private Placement 19,369 64 7,328 3,122 — 3,122 Meritz AI-SingA330-A 17,821 1 1,280 377 — 377 Meritz AI-SingA330-B 44,228 2 3,445 1,217 — 1,217 VOGO Debt Strategy Qualified INV Private R/E INV TR 4 49,683 33 4,198 1,391 — 1,391 Shinhan-Midas Donga Secondary Fund 6,973 1 88 (651 ) — (651 ) ShinHan – Soo Young Entrepreneur Investment Fund No.1 18,963 9 1,656 113 — 113 Synergy-Shinhan Mezzanine New Technology Investment Fund 8,266 51 834 535 — 535 Shinhan Praxis K-Growth 54,786 185 27,588 13,361 — 13,361 Credian Healthcare Private Equity Fund II 7,001 24 1,542 1,031 — 1,031 Kiwoom Milestone Professional Private Real Estate Trust 19 59,559 38,744 3,100 470 — 470 AIP EURO Green Private Real Estate Trust No.3 98,221 86 18,362 7,462 — 7,462 Hanhwa US Equity Strategy Private Real Estate Fund No.1 59,652 1,750 14,838 3,742 — 3,742 Shinhan Global Healthcare Fund 1 73,388 701 5,480 (1,722 ) — (1,722 ) JB Power TL Investment Type Private Placement Special Asset Fund 7 50,468 66 15,476 2,487 — 2,487 IBK AONE convertible 1 12,861 — 1,515 410 — 410 Rico synergy collabo Multi-Mezzanine 6,433 2 1,296 856 — 856 KB NA Hickory Private Special Asset Fund 96,289 476 16,132 2,489 — 2,489 Koramco Europe Core Private Placement Real Estate Fund No.2-2 46,742 2,304 9,328 5,462 — 5,462 Shinhan-Stonebridge Petro PEF W 1,388 1,350 52,928 49,878 — 49,878 BNP Paribas Cardif General Insurance 43,064 21,936 17,613 (12,962 ) (136 ) (13,098 ) Axis Global Growth New Technology Investment Association 10,064 — 1 (244 ) — (244 ) Polaris No7 Start up and Venture Private Equity Fund 8,113 52 1,037 928 — 928 Hermes Private Investment Equity Fund 21,954 95 45 (2,366 ) — (2,366 ) SHC ULMUS Fund No.1 10,706 — 1,073 881 — 881 Shinhan-Nvestor Liquidity Solution Fund 19,524 — 209 (2,101 ) — (2,101 ) Shinhan AIM FoF Fund 1a 28,987 20 5,556 2,111 — 2,111 IGIS Global Credit Fund 150-1 38,912 38 2,674 166 — 166 GX Shinhan Intervest 1st Private Equity Fund 131,237 — 6,689 5,283 — 5,283 Soo Commerce Platform Growth Fund 25,765 3 36 (140 ) — (140 ) Partner One Value up I Private Equity Fund 42,602 — 457 (173 ) — (173 ) Genesis No.1 Private Equity Fund 224,322 7 23,180 21,872 — 21,872 GMB ICT New Technology Investment Fund 29,359 — 2 (298 ) — (298 ) Korea Omega Project Fund III 12,818 — 4,432 4,351 — 4,351 Soo Delivery Platform Growth Fund 29,743 3 675 367 — 367 Genesis North America Power Company No.1 PEF 46,041 281 4,323 3,756 — 3,756 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 89,450 687 4,262 1,546 — 1,546 Shinhan-Rhinos 1 Fund 13,474 — 143 129 — 129 Pacific Private Investment Trust No.20 18,764 15 1,247 1,187 — 1,187 Susung Mezzanine project P1 Private Investment Trust 10,023 351 22 (91 ) — (91 ) Korea Finance Security 32,079 10,386 64,964 (1,297 ) — (1,297 ) AIP Transportation Specialized Privately Placed Fund Trust #1 94,437 6,042 12,473 1,242 — 1,242 Lime Neptune Professional Private 6 10,166 41 460 125 — 125 PCC S/W 2nd Fund 10,154 — 151 4 — 4 E&Healthcare Investment Fund No.6 38,181 2 4,405 3,664 — 3,664 One Shinhan Global Fund 1 22,244 — 92 (406 ) — (406 ) Kiwoom-Shinhan Innovation Fund I 14,719 151 13 (432 ) — (432 ) Daishin-K&T 55,686 33,103 1,292 183 — 183 Midas Asset Global CRE Debt Private Fund No.6 118,438 70 3,907 2,677 — 2,677 Richmond Private Investment Trust No.82 W 50,079 24,879 1,155 919 — 919 Tiger Alternative Real Estate Professional Private5 40,792 103 1,628 (116 ) — (116 ) Samchully Midstream Private Placement Special Asset Fund 5-4 71,680 55 14,423 3,015 — 3,015 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 269,203 48 8,854 8,289 — 8,289 AUCTUS FITRIN Corporate Recovery Private Equity Fund 67,222 218 1,187 449 — 449 NH-Amundi 61,696 39 7,404 2,427 — 2,427 Pacific Private Real Estate Fund Investment Trust No.30 39,779 270 1,817 1,547 — 1,547 Jarvis Memorial Private Investment Trust 1 10,279 12 293 281 — 281 Mastern Private Investment Trust 68 18,600 2 533 437 — 437 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 7,336 7 214 (61 ) — (61 ) Milestone Private Real Estate Fund 3 (Derivative Type) 53,610 3 603 532 — 532 IGIS Private Real Estate Investment Trust 286 (2 class) 75,372 51,870 2,838 (798 ) — (798 ) Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) 99,976 71,507 2,383 (331 ) — (331 ) Lime Pricing Private Equity Fund 32,231 118 10 (388 ) — (388 ) SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 197,536 119 12,963 12,296 — 12,296 DS Solid.II Hedge Fund 15,042 — 4 (605 ) — (605 ) Hana Semiconductor New Technology Fund 52,905 — 73 (595 ) — (595 ) J&Magnet Startup Venture Specialized Private Equity Fund 24,513 — — (87 ) — (87 ) Cape IT Fund No.3 30,333 35 — (101 ) — (101 ) Vogo Realty Partners Private Real Estate Fund V 47,992 34 281 (1,084 ) — (1,084 ) Korea Credit Bureau 95,764 20,075 66,314 10,604 — 10,604 SBC PFV Co., Ltd 120,000 40,000 — — — — Sprott Global Renewable Private Equity Fund II 82,721 3 1,416 (4,833 ) — (4,833 ) NH-amundi W 100,513 4,197 4,128 (2,744 ) — (2,744 ) IMM Global Private Equity Fund 90,870 63 — (63 ) — (63 ) HANA Alternative Estate Professional Private122 34,897 45 1,561 (3,035 ) — (3,035 ) Hanwha-Incus Plus New Technology Fund No.1 12,900 1 — (1 ) — (1 ) SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] 127,339 15,732 — — — — SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust 402,633 141,200 10,036 7,256 — 7,256 PSA EMP Private Equity Fund 34,535 285 1 (250 ) — (250 ) Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 57,088 728 2,735 2,198 — 2,198 SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] 22,926 641 — — — — SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] 23,865 1,329 — — — — BRAIN DO PROFESSIONALE PRIVATE No. 27 10,305 10 58 (5 ) — (5 ) VISION US Muni US Local Debt Opportunities Professional Private1(S) 39,175 80 1,440 1,088 — 1,088 (*) Excluded the associates’ financial information that are not subject to recognizing equity method income or loss or financial information is not available. (d) Reconciliation of the financial information to the carrying values of its interests in the associates as of December 31, 2018 and 2019 are as follows: 2018 Investees Net assets (a) Ownership (b) Interests in the net (a)*(b) Intra-group Other Carrying Value BNP Paribas Cardif Life Insurance W 333,179 14.99 49,952 (136 ) — 49,816 Daewontos Co., Ltd. (*1) (2,092 ) 36.33 (760 ) — 760 — Songrim Partners (*1) (23 ) 35.34 (8 ) — 8 — Neoplux Technology Valuation Investment Fund 56,214 33.33 18,738 — — 18,738 Partners 4th Growth Investment Fund 66,449 25.00 16,612 — — 16,612 JAEYANG INDUSTRY(*2) (2,571 ) 25.90 (666 ) — 666 — KTB Newlake Global Healthcare PEF (*2) 32,385 30.00 9,715 — 170 9,885 DAEKWANG SEMICONDUCTOR CO., LTD. 15,922 20.94 3,334 — — 3,334 Shinhan-Neo |
Investment properties, net
Investment properties, net | 12 Months Ended |
Dec. 31, 2019 | |
Investment properties, net [Abstract] | |
Investment properties, net | 16. Investment properties (a) Investment properties as of December 31, 2018 and 2019 are as follows: 2018 2019 Acquisition cost W 579,852 605,773 Accumulated depreciation (105,032 ) (117,163 ) Carrying value W 474,820 488,610 (b) Changes in investment properties for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Beginning balance W 418,303 474,820 Acquisitions 115,333 2,767 Disposals (13,608 ) (73,588 ) Depreciation (16,917 ) (17,565 ) Amounts transferred from (to) property and equipment (28,199 ) 104,573 Amounts transferred to assets held for sale (*) — (15,795 ) Foreign currency adjustment (92 ) (169 ) Business combination (Note 50) — 13,567 Ending balance W 474,820 488,610 (*) Comprise land and buildings, etc. (c) Income and expenses on investment property for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Rental income W 33,023 32,488 43,777 Direct operating expenses for investment properties that generated rental income 10,998 12,191 12,107 (d) The fair value of investment property as of December 31, 2018 and 2019 is as follows: 2018 2019 Land and buildings (*) W 1,121,985 1,062,195 (*) Fair value of investment properties is estimated based on the recent market transactions and certain significant unobservable inputs. Accordingly, fair value of investment properties is classified as level 3. |
Other assets, net
Other assets, net | 12 Months Ended |
Dec. 31, 2019 | |
Other assets, net [Abstract] | |
Other assets, net | 17. Other assets Other assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Accounts receivable W 7,666,217 9,355,388 Domestic exchange settlement debit 6,121,332 4,337,628 Guarantee deposits 1,152,434 1,184,572 Present value discount on guarantee deposits (44,694 ) (45,316 ) Accrued income 1,896,822 2,612,823 Prepaid expense 194,040 193,849 Suspense payments 73,153 71,764 Sundry assets 92,221 93,766 Separate account assets 2,650,302 8,253,351 Advance payments 616,996 317,365 Unamortized deferred acquisition cost 786,134 907,868 Other 423,759 661,998 Allowances for credit loss of other assets (56,798 ) (66,775 ) W 27,878,281 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases | 18. Leases (a) Finance lease receivables of the Group as lessor as of December 31, 2018 and 2019 are as follows: 2018 Gross investment Unearned finance Present value of Not later than 1 year W 595,427 85,333 510,094 1 ~ 5 years 1,306,571 106,333 1,200,238 Later than 5 years 16,529 38 16,491 W 1,918,527 191,704 1,726,823 2019 Gross investment Unearned finance Present value of Not later than 1 year W 529,326 94,809 434,517 1 ~ 2 years 443,708 63,226 380,482 2 ~ 3 years 469,754 37,725 432,029 3 ~ 4 years 289,798 16,773 273,025 4 ~ 5 years 150,811 4,225 146,586 Later than 5 years 16,782 44 16,738 W 1,900,179 216,802 1,683,377 (*) Interest income on finance lease receivables recognized during the year is W (b) The scheduled maturities of minimum lease payments for operating leases of the Group as lessor as of December 31, 2018 and 2019 are as follows: i) Finance lease 2018 Minimum lease Present value Present value of Not later than 1 year W 595,427 85,333 510,094 1 ~ 5 years 1,306,571 106,333 1,200,238 Later than 5 years 16,529 38 16,491 W 1,918,527 191,704 1,726,823 2019 Minimum lease Present value Present value of Not later than 1 year W 529,326 94,809 434,517 1 ~ 2 years 443,708 63,226 380,482 2 ~ 3 years 469,754 37,725 432,029 3 ~ 4 years 289,798 16,773 273,025 4 ~ 5 years 150,811 4,225 146,586 Later than 5 years 16,782 44 16,738 W 1,900,179 216,802 1,683,377 ii) Operating lease 2018 Minimum Not later than 1 year W 94,540 1 ~ 5 years 180,304 Later than 5 years 10 W 274,854 2019 Minimum Not later than 1 year W 142,140 1 ~ 2 years 118,781 2 ~ 3 years 76,379 3 ~ 4 years 37,047 4 ~ 5 years 14,984 Later than 5 years 83 W 389,414 (c) The details of the changes in operating lease assets for the year ended December 31, 2019 are as follows: 2019 Beginning balance W 370,868 Acquisition 411,971 Disposition (134,810 ) Depreciation (98,288 ) Ending balance W 549,741 (d) The details of the right-of-use 2019 Acquisition Accumulated Carrying Real estate W 1,306,759 (228,956 ) 1,077,803 Vehicle 30,051 (8,057 ) 21,994 Others 20,396 (7,397 ) 12,999 W (244,410) 1,112,796 (e) The details of the changes in the right-of-use 2019 Real estate Vehicle Others Total Beginning balance W 554,478 16,528 12,570 583,576 Acquisitions 781,097 16,523 8,163 805,783 Disposals (10,808 ) (1,638 ) (149 ) (12,595 ) Depreciation (280,691 ) (10,094 ) (7,753 ) (298,538 ) Effects of foreign currency movements 2,890 91 — 2,981 Business combination (Note 50) 30,837 584 168 31,589 Ending balance W 1,077,803 21,994 12,999 1,112,796 (f) The details of the maturity of the lease liability as of December 31, 2019 are as follows: 2019 1 month 1 month ~ 3 months ~ 6 months ~ 1 year ~ More than Total Real estate W 20,967 34,357 47,644 86,228 848,699 28,973 1,066,868 Vehicle 1,378 1,542 2,178 4,108 14,410 — 23,616 Others 959 994 1,288 2,057 8,477 — 13,775 W 36,893 51,110 92,393 871,586 28,973 1,104,259 (*) The above amounts are based on undiscounted cash flows, and have been classified at the earliest maturity that the Group has the obligation to pay. (g) The lease payments for low-value 2019 Low-value W 5,045 Short-term lease (*) 907 Total W 5,952 (*) The payments less than 1 month are included. |
Pledged assets
Pledged assets | 12 Months Ended |
Dec. 31, 2019 | |
Pledged assets [Abstract] | |
Pledged assets | 19. Pledged assets (a) Assets pledged as collateral as of December 31, 2018 and 2019 are as follows: 2018 2019 Loans Loans at amortized cost W 129,210 128,163 Securities Securities at FVTPL 11,533,107 15,016,057 Securities at FVOCI 1,372,746 2,387,555 Securities at amortized cost 10,670,253 12,791,744 23,576,106 30,195,356 Deposits Deposits at amortized cost 1,481,085 1,090,161 Property and Equipment (real estate) 154,490 121,446 Other financial assets — 404 W 25,340,891 31,535,530 The carrying amounts of assets pledged that the pledgees have the right to sell or re-pledge W W (b) The fair value of collateral held that the Group has the right to sell or re-pledge 2018 Collateral held Assets pledged Assets received Securities W 7,342,239 5,190,387 2019 Collateral held Assets pledged Assets received Securities W 9,240,573 2,007,036 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Deposits [Abstract] | |
Deposits | 20. Deposits Deposits as of December 31, 2018 and 2019 are as follows: 2018 2019 Demand deposits: Korean won W 94,210,806 103,048,895 Foreign currencies 11,950,027 13,233,812 106,160,833 116,282,707 Time deposits: Korean won 123,572,793 139,824,896 Foreign currencies 16,071,970 18,602,551 139,644,763 158,427,447 Negotiable certificates of deposits 9,247,088 9,707,791 Note discount deposits 4,087,530 4,579,587 CMA 4,084,709 3,987,372 Others 1,775,267 1,889,352 W 265,000,190 294,874,256 |
Financial liabilities at fair v
Financial liabilities at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2019 | |
Financial liabilities at fair value through profit or loss [Abstract] | |
Financial liabilities at fair value through profit or loss | 21. Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss as of December 31, 2018 and 2019 are as follows: 2018 2019 Securities sold: Stocks W 488,873 298,008 Bonds 440,382 825,942 Others 32,117 40,747 961,372 1,164,697 Gold deposits 458,934 467,760 W 1,420,306 1,632,457 |
Financial liabilities designate
Financial liabilities designated at fair value through profit or loss (IFRS9) | 12 Months Ended |
Dec. 31, 2019 | |
Financial liabilities designated at fair value through profit or loss (IFRS9) [Abstract] | |
Financial liabilities designated at fair value through profit or loss (IFRS9) | 22. Financial liabilities designated at fair value through profit or loss Financial liabilities designated at fair value through profit or loss as of December 31, 2018 and 2019 are as follows: 2018 2019 Reason for designation Equity-linked securities sold W 6,439,292 6,880,811 Combined instrument Securities sold with embedded derivatives 2,096,508 2,528,645 Combined instrument W 8,535,800 9,409,456 (*) The Group designated the financial liabilities at the initial recognition (or subsequently) in accordance with paragraph 6.7.1 of IFRS 9 as financial liabilities at fair value through profit or loss. Maximum credit risk exposure of the financial liabilities designated at fair value through profit or loss amounts to W W W (-)11,386 million |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Borrowings [Abstract] | |
Borrowings | 23. Borrowings Borrowings as of December 31, 2018 and 2019 are as follows: 2018 2019 Interest Amount Interest Amount Call money 0.00~6.85 W 1,425,162 0.00~ 5.25 W 712,247 Bill sold 0.75~1.70 14,536 0.80~ 1.60 19,070 Bonds sold under repurchase agreements: 0.50~6.50 7,614,659 0.95~ 5.40 9,089,736 Borrowings in Korean won: Borrowings from Bank of Korea 0.50~0.75 2,329,946 0.50~0.75 2,429,346 Others 0.00~4.25 12,108,741 0.00~6.00 14,202,096 14,438,687 16,631,442 Borrowings in foreign currencies: Overdraft due to banks 0.00 77,673 0.00 86,791 Borrowings from banks 0.00~12.00 4,653,055 0.11~7.50 6,576,849 Others 2.60~7.90 1,596,626 1.94~13.65 1,748,031 6,327,354 8,411,671 Deferred origination costs (1,856 ) (1,010 ) W 29,818,542 W 34,863,156 |
Debt securities issued
Debt securities issued | 12 Months Ended |
Dec. 31, 2019 | |
Debt securities issued [Abstract] | |
Debt securities issued | 24. Debt securities issued Debt securities issued as of December 31, 2018 and 2019 were as follows: 2018 2019 Interest Amount Interest Amount Debt securities issued in Korean won: Debt securities issued 0.00~8.00 W 50,661,472 0.71~8.00 W 60,501,093 Subordinated debt securities issued 2.20~4.60 4,400,145 2.20~4.60 4,370,145 Loss on fair value hedges (206,985 ) (87,692 ) Discount on debt securities issued (84,962 ) (66,334 ) 54,769,670 64,717,212 Debt securities issued in foreign currencies: Debt securities issued 0.20~4.01 6,278,680 0.01~7.59 6,750,085 Subordinated debt securities issued 3.75~5.00 2,271,799 3.34~5.10 3,797,536 Gain (Loss) on fair value hedges (55,251 ) 141,264 Discount on debt securities issued (37,199 ) (42,733 ) 8,458,029 10,646,152 W 63,227,699 W 75,363,364 |
Employee benefits
Employee benefits | 12 Months Ended |
Dec. 31, 2019 | |
Defined benefit plan assets and liabilities [Abstract] | |
Employee benefits | 25. Employee benefits (a) Defined benefit obligations and plan assets Defined benefit obligations and plan assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Present value of defined benefit obligations W 1,841,982 2,063,102 Fair value of plan assets (1,714,634 ) (1,943,644 ) Recognized liabilities for defined benefit obligations (*) W 127,348 119,458 (*) The net defined benefit liability of W W W (b) Changes in the present value of defined benefit obligation and plan assets for the years ended December 31, 2018 and 2019 are as follows: 2018 Defined benefit Plan assets Net defined Beginning balance W 1,695,191 (1,688,047 ) 7,144 Included in profit or loss: Current service cost 144,923 — 144,923 Past service cost 54 — 54 Interest expense (income) 59,836 (66,676 ) (6,840 ) 204,813 (66,676 ) 138,137 Included in other comprehensive income: Remeasurement loss (gain): - Actuarial gains (losses) arising from : Demographic assumptions 18,399 — 18,399 Financial assumptions 79,038 — 79,038 Experience adjustment (10,762 ) — (10,762 ) - Return on plan assets excluding interest income — 41,701 41,701 86,675 41,701 128,376 Other: Benefits paid by the plan (142,938 ) 137,335 (5,603 ) Contributions paid into the plan — (139,348 ) (139,348 ) Settlement gain or loss 407 — 407 Effect of movements in exchange rates (1,273 ) — (1,273 ) Others (*2) (893 ) 401 (492 ) (144,697 ) (1,612 ) (146,309 ) Ending balance W 1,841,982 (1,714,634 ) 127,348 (*1) Profit or loss arising from defined benefit plans is included in general and administrative expenses. (*2) Others represent the change amounts due to the conversion to defined contribution. 2019 Defined benefit Plan assets Net defined Beginning balance W 1,841,982 (1,714,634 ) 127,348 Included in profit or loss: Current service cost 172,490 — 172,490 Past service cost (1,588 ) — (1,588 ) Interest expense (income) 57,253 (54,336 ) 2,917 Settlement expense (income) (29 ) — (29 ) 228,126 (54,336 ) 173,790 Included in other comprehensive income: Remeasurement loss (gain): - Actuarial gains (losses) arising from : Demographic assumptions (7,584 ) — (7,584 ) Financial assumptions 53,475 — 53,475 Experience adjustment 8,001 — 8,001 - Return on plan assets excluding interest income — 21,719 21,719 53,892 21,719 75,611 Other: Benefits paid by the plan (87,066 ) 80,063 (7,003 ) Contributions paid into the plan — (252,858 ) (252,858 ) Settlement gain or loss 216 — 216 Business combination (Note 50) 25,965 (23,598 ) 2,367 Effect of movements in exchange rates (13 ) — (13 ) (60,898 ) (196,393 ) (257,291 ) Ending balance W 2,063,102 (1,943,644 ) 119,458 (*) Profit and loss related to defined benefit plans are included in the general administrative expense. (c) The composition of plan assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Plan assets comprise: Equity securities W 257,581 256,353 Debt securities 817 28,094 Due from banks 1,394,634 1,577,274 Other 61,602 81,923 W 1,714,634 1,943,644 (d) Actuarial assumptions as of December 31, 2018 and 2019 are as follows: 2018 2019 Description Discount rate 3.02%~3.22% 2.71%~3.17% AA0 corporate bond yields Future salary increase rate 0.99%~3.40% + Upgrade rate 1.80%~4.00% + Upgrade rate Average for 5 years Weighted average maturity 7.7 years ~ 9.9 years 8.2 years ~ 16.2 years (e) Sensitivity analysis As of December 31, 2018 and 2019, reasonably possible changes in one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below. 2018 Defined benefit obligation Increase Decrease Discount rate (1%p movement) W (159,549 ) 180,542 Future salary increase rate (1%p movement) 176,924 (159,169 ) 2019 Defined benefit obligation Increase Decrease Discount rate (1%p movement) W (201,770 ) 233,057 Future salary increase rate (1%p movement) 231,967 (204,242 ) |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2019 | |
Provisions [Abstract] | |
Provisions | 26. Provisions (a) Provisions as of December 31, 2018 and 2019 are as follows: 2018 2019 Asset retirement obligations W 49,183 64,922 Expected loss related to litigation 25,554 8,789 Unused credit commitments 232,347 263,752 Financial guarantee contracts issued 115,325 100,430 Others 86,007 119,131 W 508,416 557,024 (b) Changes in provision for unused credit commitments and financial guarantee contracts issued for the years ended December 31, 2018 and 2019 are as follows:. 2018 Unused credit commitments Financial guarantee contracts issued Total 12 months Life time Impaired financial asset 12 months Life time Impaired Beginning allowance W 124,492 96,010 2,137 31,456 3,368 2,464 259,927 Transfer to 12 months expected credit loss 42,514 (42,057 ) (457 ) 1,140 (1,140 ) — — Transfer to life time expected credit loss (8,899 ) 8,976 (77 ) (1,804 ) 1,804 — — Transfer to impaired financial asset (213 ) (802 ) 1,015 (13 ) — 13 — Provided (reversed) (32,070 ) 38,576 2,519 (3,964 ) 455 (690 ) 4,826 FX change 578 105 — 758 481 449 2,371 Others (*) — — — 36,621 936 (479 ) 37,078 Ending balance W 126,402 100,808 5,137 64,194 5,904 1,757 304,202 (*) Others include effects of the provision from the new financial guarantee contracts measured at fair value, and the expired contracts, and the change of discount rate. 2019 Unused credit commitments Financial guarantee contracts issued Total 12 months Life time Impaired financial asset 12 months Life time Impaired Beginning allowance W 126,402 100,808 5,137 64,194 5,904 1,757 304,202 Transfer to 12 months expected credit loss 42,838 (42,728 ) (110 ) 2,629 (2,629 ) — — Transfer to life time expected credit loss (9,286 ) 9,314 (28 ) (1,245 ) 1,245 — — Transfer to impaired financial asset (229 ) (752 ) 981 (12 ) — 12 — Provided (reversed) (28,611 ) 53,076 5,905 (4 ) 96 (943 ) 29,519 FX change 914 121 — 1,302 323 102 2,762 Others (*) — — — 1,603 630 (117 ) 2,116 Ending balance W 132,028 119,839 11,885 68,467 5,569 811 338,599 (*) Others include effects of the provision from the new financial guarantee contracts measured at fair value, and the expired contracts, and the change of discount rate. (c) Changes in provisions for the years ended December 31, 2018 and 2019 are as follows: 2018 Asset Litigation Guarantee Other Total Beginning balance (*1) W 45,495 32,650 46,340 75,512 199,997 Provision (reversal) 4,789 (1,138 ) (2,833 ) 4,900 5,718 Provision used (4,210 ) (6,343 ) — (7,554 ) (18,107 ) Foreign exchange translation — 385 1,677 (1,006 ) 1,056 Others (*2) 3,109 — (1,714 ) 14,155 15,550 Ending balance W 49,183 25,554 43,470 86,007 204,214 (*1) In accordance with IFRS 15, the Group has adjusted all bonus card point reward program related to customer loyalty programs. (*2) Others include the effects of unwinding and changes in discount rate. 2019 Asset Litigation Guarantee Other Total Beginning balance W 49,183 25,554 43,470 86,007 204,214 Provision (reversal) (1,280 ) (981 ) (19,329 ) (5,753 ) (27,343 ) Provision used (1,930 ) (17,365 ) — (47,217 ) (66,512 ) Foreign exchange translation — — 1,420 382 1,802 Others (*) 4,476 — 22 3,784 8,282 Business combination (Note 50) 14,473 1,581 — 81,928 97,982 Ending balance W 64,922 8,789 25,583 119,131 218,425 (*) Others include the effects of unwinding and changes in discount rate. (d) Asset retirement obligation liabilities represent the estimated cost to restore the existing leased properties which is discounted to the present value using the appropriate discount rate at the end of the reporting period. Disbursements of such costs are expected to incur at the end of lease contract. Such costs are reasonably estimated using the average lease year and the average restoration expenses. The average lease year is calculated based on the past ten-year (e) Allowance for guarantees and acceptances as of December 31, 2018 and 2019 are as follows: 2018 2019 Guarantees and acceptances outstanding W 9,437,691 9,317,412 Contingent guarantees and acceptances 3,985,532 3,669,681 ABS and ABCP purchase commitments 2,083,522 2,116,354 Endorsed bill 37,667 11,287 W 15,544,412 15,114,734 Allowance for loss on guarantees and acceptances W 115,325 100,430 Ratio % 0.74 0.66 |
Liability under insurance contr
Liability under insurance contracts | 12 Months Ended |
Dec. 31, 2019 | |
Insurance liabilities [Abstract] | |
Liability under insurance contracts | 27. Liability under insurance contracts (a) Insurance liabilities as of December 31, 2018 and 2019 are as follows: 2018 2019 Policy reserve W 26,211,044 52,086,132 Policyholder’s equity adjustment 7,838 77,285 W 26,218,882 52,163,417 (b) Policy reserve as of December 31, 2018 and 2019 are as follows: 2018 2019 Interest rate linked W 17,328,353 30,058,020 Fixed interest rate 8,882,691 22,028,112 W 26,211,044 52,086,132 (c) The details of policy reserves as of December 31, 2018 and 2019 are as follows: 2018 Individual insurance Group insurance Pure Death Endowment Subtotal Pure Savings Subtotal Total Premium reserve W 5,729,045 11,722,964 7,482,084 24,934,093 24,422 58 24,480 24,958,573 Guarantee reserve 10,148 64,978 124 75,250 — — — 75,250 Unearned premium reserve 3 301 — 304 506 — 506 810 Reserve for outstanding claims 99,676 837,317 185,328 1,122,321 18,089 — 18,089 1,140,410 Interest rate difference guarantee reserve 2,068 148 11 2,227 — — — 2,227 Mortality gains reserve 7,026 4,741 176 11,943 3 — 3 11,946 Interest gains reserve 18,662 254 19 18,935 — — — 18,935 Long term duration dividend reserve 52 9 1 62 — — — 62 Reserve for policyholder’s profit dividend 1,773 — — 1,773 — — — 1,773 Reserve for losses on dividend insurance contract 1,058 — — 1,058 — — — 1,058 W 5,869,511 12,630,712 7,667,743 26,167,966 43,020 58 43,078 26,211,044 2019 Individual insurance Group insurance Pure endowment Death Endowment Subtotal Pure Savings Subtotal Total Premium reserve W 14,668,777 24,979,936 10,443,287 50,092,000 21,912 60 21,972 50,113,972 Guarantee reserve 29,400 249,845 744 279,989 — — — 279,989 Unearned premium reserve 2 945 — 947 291 — 291 1,238 Reserve for outstanding claims 212,641 1,084,472 233,259 1,530,372 16,858 — 16,858 1,547,230 Interest rate difference guarantee reserve 2,158 149 10 2,317 — — — 2,317 Mortality gains reserve 8,945 42,173 153 51,271 2 — 2 51,273 Interest gains reserve 24,486 267 17 24,770 — — — 24,770 Expense gains reserve 6,211 9,434 1 15,646 — — — 15,646 Long term duration dividend reserve 31,202 15,388 13 46,603 — — — 46,603 Reserve for policyholder’s profit dividend 2,268 — — 2,268 — — — 2,268 Reserve for losses on dividend insurance contract 826 — — 826 — — — 826 W 14,986,916 26,382,609 10,677,484 52,047,009 39,063 60 39,123 52,086,132 (d) Reinsurance credit risk as of December 31, 2018 and 2019 are as follows: 2018 2019 Reinsurance Reinsurance Reinsurance Reinsurance AAA W — — 11,477 18,192 AA- 2,451 4,416 34,498 46,302 A- 1,622 3,598 2,287 4,113 W 4,073 8,014 48,262 68,607 (e) Income or expenses on insurance for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Insurance income: Premium income W 4,550,277 4,348,745 7,386,854 Reinsurance income 10,532 15,222 146,564 Separate account income 38,999 34,771 36,007 4,599,808 4,398,738 7,569,425 Insurance expenses: Claims paid 2,213,285 2,549,147 5,436,069 Reinsurance premium expenses 13,220 18,482 165,979 Provision for policy reserves (*) 2,147,139 1,694,716 1,724,816 Separate account expenses 38,999 34,770 36,007 Discount charge 632 669 657 Acquisition costs 543,752 454,479 805,508 Collection expenses 15,716 16,046 19,049 Deferred acquisition costs (336,851 ) (283,665 ) (495,534 ) Amortization of deferred acquisition costs 423,955 385,793 373,800 5,059,847 4,870,437 8,066,351 Net loss on insurance W (460,039 ) (471,699 ) (496,926 ) (*) Interest expenses on savings insurance contracts are included. (Accumulated W W W (f) Maturity of premium reserve as of December 31, 2018 and 2019 are as follows: 2018 Less than 1 ~ 3 3 ~ 7 7 ~ 10 10 ~ 20 More than Total Fixed interest rate W 111,102 247,619 741,222 502,572 1,288,815 5,284,548 8,175,878 Interest rate linked 195,843 922,832 1,247,871 343,562 1,500,893 12,571,694 16,782,695 Ending balance W 306,945 1,170,451 1,989,093 846,134 2,789,708 17,856,242 24,958,573 2019 Less than 1 ~ 3 3 ~ 7 7 ~ 10 10 ~ 20 More than Total Fixed interest rate W 845,304 2,079,125 2,118,652 941,413 2,236,313 20,732,908 28,953,715 Interest rate linked 213,892 329,647 1,032,366 572,153 2,058,859 16,953,340 21,160,257 Ending balance W 1,059,196 2,408,772 3,151,018 1,513,566 4,295,172 37,686,248 50,113,972 (g) Liability adequacy test, LAT – Shinhan Life Insurance Co., Ltd. i) Scope Liability adequacy tests were performed on the premium reserve, unearned premium reserve and guarantee reserve for the contracts held at December 31, 2018 and 2019. The premium reserve considered the amount net level premium reserve less, where appropriate, deferred acquisition cost in accordance with the article 6-3 ii) Output overview In the debt appraisal system, the insurance premium surplus method is applied to calculate premium deficits. Premium deficiency refers to deficiency when the amount of accumulated reserve is insufficient due to a decrease in the interest rate after the sale of the product or an increase in the risk rate compared with the expected basic rate at the time of product development. The insurance premium standard inspection method is a method of calculating the reserve amount based on the present value of total income reflecting the interest rate, the risk rate, the business ratio, the cancellation rate, etc. and the present value of the total expenditure, that is, (discount rate), business ratio, risk rate, and cancellation rate calculated based on the Group’s own experience, which reflects company-specific characteristics, and does not reflect subjective factors such as management’s willingness to improve management. iii) The assumptions of the current estimation used to assessment and their basis for calculation was as follows: Assumptions 2018 2019 Measurement basis Discount rate 2.25% ~ 8.32% 2.02% ~ 8.35% The scenario adding liquidity premium to risk-free rate, which is suggested from Financial Supervisory Service Mortality rate 2.58% ~ 247.65% 11.36% ~ 497.99% Ratio by claims paid per premium paid on risk premium based on experience-based rate by products, collateral of last 5 years. Operating expense rate Acquisition cost - The first time : 90.00% ~ 982.70% - From the second time : 0.00% ~ 193.50% Maintenance expense (each case): 207 won ~ 3,531 won Collection expenses (on gross premium): 0.04% ~ 1.10% Acquisition cost - The first time : 90.00% ~ 1,022.75% - From the second time : 0.00% ~ 193.50% Maintenance expense (each case): 1,229 won ~ 3,332 won Collection expenses (on gross premium): 0.05% ~ 1.27% Business rate on insurance premium or expenses per contract based on experience-based rate of last 1 year Surrender ratio 0.95% ~ 48.35% 0.76% ~ 33.03% Surrender ratio by elapsed period, classes of sales channel, product of last 5 years iv) The result of liability adequacy test as of December 31, 2018 and 2019 are as follows: 2018 Provisions for test LAT base (*) Premium loss Participating: Fixed interest W 589,618 1,322,481 732,863 Variable interest 859,858 939,791 79,933 1,449,476 2,262,272 812,796 Non- Fixed interest 6,009,771 2,822,160 (3,187,611 ) Variable interest 14,149,581 12,037,953 (2,111,628 ) 20,159,352 14,860,113 (5,299,239 ) W 21,608,828 17,122,385 (4,486,443 ) (*) It is recalculated in accordance with the revised discount rate calculation rules for the year December 31, 2019. 2019 Provisions for test LAT base Premium loss Participating: Fixed interest W 595,317 1,248,489 653,172 Variable interest 900,378 1,002,149 101,771 1,495,695 2,250,638 754,943 Non- Fixed interest 6,608,221 3,079,715 (3,528,506 ) Variable interest 14,563,065 12,340,762 (2,222,303 ) 21,171,286 15,420,477 (5,750,809 ) W 22,666,981 17,671,115 (4,995,866 ) v) Sensitivity analysis as of December 31, 2018 and 2019 are as follows: LAT fluctuation 2018 (*) 2019 Discount rate increased by 0.5% W (1,610,988 ) (1,582,746 ) Discount rate decreased by 0.5% 1,938,357 1,906,134 Operating expense increased by 10% 229,339 292,246 Mortality rate increased by 10% 837,453 873,184 Mortality rate increased by 5% 420,774 438,685 Surrender ratio increased by 10% 291,806 373,062 (*) It is recalculated in accordance with the revised discount rate calculation rules for the year December 31, 2019. (h) Liability adequacy test, LAT – Orange Life Insurance Co., Ltd. i) Scope Liability adequacy tests were performed on the premium reserve, unearned premium reserve and guarantee reserve for the contracts held at December 31, 2019. The premium reserve considered the amount net level premium reserve less, where appropriate, deferred acquisition cost in accordance with the article 6-3 ii) Output overview In the debt appraisal system, the insurance premium surplus method is applied to calculate premium deficits. Premium deficiency refers to deficiency when the amount of accumulated reserve is insufficient due to a decrease in the interest rate after the sale of the product or an increase in the risk rate compared with the expected basic rate at the time of product development. The insurance premium standard inspection method is a method of calculating the reserve amount based on the present value of total income reflecting the interest rate, the risk rate, the business ratio, the cancellation rate, etc. and the present value of the total expenditure, that is, (discount rate), business ratio, risk rate, and cancellation rate calculated based on the Group’s own experience, which reflects company-specific characteristics, and does not reflect subjective factors such as management’s willingness to improve management. iii) The assumptions of the current estimation used to assessment and their basis for calculation was as follows: Assumptions 2019 Measurement basis Discount rate 2.07% ~ 10.86% The scenario adding liquidity premium to risk-free rate, which is suggested from Financial Supervisory Service Mortality rate 20.00% ~ 255.00% Ratio by claims paid per premium paid on risk premium based on experience-based rate by products, collateral of last 5 years. Operating expense rate Acquisition cost (each case): 5,500 won ~ 1,227,000 won - Proportional to annualized premium: 0.00% ~ 12.55% Maintenance expense (each case): 50 won ~ 32,500 won - Proportional to premium income: 0.42% ~ 3.45% - Proportional to surrender value: 0.12% Based on the recent one-year Surrender ratio 0.00% ~ 50.00% Based on experience statistics for the last five years or more, annual premiums are calculated based on product group, payment method, channel, and elapsed period. Payment status (full payment and pension initiation) and tax benefits are included. iv) The result of liability adequacy test as of December 31, 2019 are as follows: 2019 Provisions for test LAT base Premium Participating: Fixed interest W 716,607 644,715 (71,892 ) Variable interest 1,134,245 1,541,967 407,722 1,850,852 2,186,682 335,830 Non- Fixed interest 9,296,542 4,629,266 (4,667,276 ) Variable interest 9,236,731 8,635,022 (601,709 ) Variable type (*) (268,818 ) (1,882,573 ) (1,613,755 ) 18,264,455 11,381,715 (6,882,740 ) W 20,115,307 13,568,397 (6,546,910 ) (*) Variable type refers to a variable insurance. v) Sensitivity analysis as of December 31, 2019 is as follows: LAT fluctuation 2019 Discount rate increased by 0.5% W (1,203,136 ) Discount rate decreased by 0.5% 1,686,867 Operating expense increased by 10% 245,181 Mortality rate increased by 10% 877,624 Mortality rate increased by 5% 440,025 Surrender ratio increased by 10% 421,767 |
Other liabilities
Other liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Other liabilities [Abstract] | |
Other liabilities | 28. Other liabilities Other liabilities as of December 31, 2018 and 2019 are as follows: 2018 2019 Lease liabilities W — 1,104,259 Accounts payable 9,748,168 11,894,764 Accrued expenses 3,267,188 3,502,538 Dividend payable 49,486 31,599 Advance receipts 131,386 173,850 Unearned income 236,827 294,710 Withholding value-added tax and other taxes 547,097 720,053 Securities deposit received 651,153 1,903,119 Foreign exchange remittances pending 225,956 243,532 Domestic exchange remittances pending 1,115,939 1,452,955 Borrowing from trust account 2,999,445 5,350,285 Due to agencies 779,473 744,660 Deposits for subscription 76,019 60,500 Separate account liabilities 2,845,380 8,700,695 Sundry liabilities 2,496,169 1,968,823 Other 50,881 151,056 Present value discount (20,888 ) (59,840 ) W 25,199,679 38,237,558 (*) As of December 31, 2019, the Group accounts for the lease liabilities as other liabilities. During the year ended December 31, 2019, the amount of variable lease payments that are not included in the measurement of lease liabilities is W W W |
Equity
Equity | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Equity | 29. Equity (a) Equity as of December 31, 2018 and 2019 are as follows: 2018 2019 Capital stock: Common stock W 2,370,998 2,370,998 Preferred stock (*1) 274,055 361,465 2,645,053 2,732,463 Hybrid bond 1,531,759 1,731,235 Capital surplus: Share premium (*1) 9,494,769 10,155,150 Others 400,719 410,203 9,895,488 10,565,353 Capital adjustments (*2) (552,895 ) (1,116,770 ) Accumulated other comprehensive income, net of tax: Gain on financial assets at fair value through other comprehensive income 2,958 306,470 Gain(Loss) on financial assets at fair value through profit or loss (overlay approach) (79,057 ) 71,621 Equity in other comprehensive income of associates 4,883 8,177 Foreign currency translation adjustments for foreign operations (321,853 ) (217,465 ) Net loss from cash flow hedges (17,751 ) (33,711 ) Other comprehensive income of separate account 4,112 14,539 Actuarial losses (346,682 ) (401,532 ) Changes in own credit risk on financial liabilities designated under fair value option 170 (8,255 ) (753,220 ) (260,156 ) Retained earnings (*3),(*4),(*5) 22,959,440 25,525,821 Non-controlling 925,805 2,752,435 W 36,651,430 41,930,381 (*1) For the year ended December 31, 2019, W (*2) The Group acquired treasury stocks through a treasury stock trust for the years ended December 31, 2018 and 2019 and has recognized the consideration paid in equity, directly. The Group entered into a shareholders’ agreement to acquire additional shares in the Asia Trust Co., Ltd., resulting in decrease of W (*3) As of December 31, 2018 and 2019, profits reserved by the Group as of Article 53 of the Financial Holding Companies Act amounted to W W (*4) As of December 31, 2018 and 2019, the regulatory reserves for loan losses the Group appropriated in retained earnings are W W (*5) As of December 31, 2019, profit dividends within retained earnings of subsidiaries of the Group subject to a restricted dividend in accordance with laws, etc. are amounted to W (*6) As of December 31, 2018 and 2019, the total amounts of hybrid bonds that Shinhan Bank, Jeju Bank and Shinhan Capital have recognized as non-controlling W W W W non-controlling (*7) The non-controlling W (b) Capital stock Capital stock of the Group as of December 31, 2018 and 2019 are as follows: Number of authorized shares 1,000,000,000 Par value per share in won W 5,000 Number of issued common stocks outstanding 474,199,587 Number of issued preferred stocks outstanding as of December 31,2019 17,482,000 (c) Hybrid bonds Hybrid bonds classified as other equity instruments as of December 31, 2018 and December 31, 2019 are as follows: Issue date Currency Maturity date Interest rate (%) 2018 2019 June 25, 2015 KRW June 25, 2045 4.38 W 199,455 199,455 September 15, 2017 ” — 3.77 134,683 134,683 September 15, 2017 ” — 4.25 89,783 89,783 April 13, 2018 ” — 4.08 134,678 134,678 April 13, 2018 ” — 4.56 14,955 14,955 August 29, 2018 ” — 4.15 398,679 398,679 June 28, 2019 ” — 3.27 — 199,476 August 13, 2018 USD — 5.88 559,526 559,526 W 1,531,759 1,731,235 The Group can make advanced redemption for the above bonds, after 5 or 10 years from the issuance date; and has unconditional rights to extend the maturity under the same condition. In addition, if the determination has been made that dividend is not paid for common shares, then the interest for the above bonds is also not paid. (d) Capital adjustments Changes in capital adjustments for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Beginning balance W (398,035 ) (552,895 ) Acquisition of stocks (155,923 ) (444,077 ) The Acquisition commitment amount for subsidiaries’ remaining shares — (125,830 ) Other transactions with owners 1,063 6,032 Ending balance W (552,895 ) (1,116,770 ) (e) Accumulated other comprehensive income Changes in accumulated other comprehensive income for the years ended December 31, 2018 and 2019 are as follows: 2018 Items that are or may be reclassified to profit or loss Items that will never be reclassified to profit or loss Total Gain (loss) on Gain (loss) on Equity in Foreign Net gain Other Remeasure Equity in Gain (loss) on Gain (loss) on Beginning balance W (211,003 ) (24,724 ) (2,516 ) (342,318 ) 2,441 (4,564 ) (253,995 ) (46 ) 31,533 (1,553 ) (806,745 ) Change due to fair value 225,173 (74,942 ) (2,327 ) — — 11,967 — 39 25,077 2,376 187,363 Reclassification: Change due to impairment or disposal 15,812 — 13,103 — — — — — — — 28,915 Effect of hedge accounting — — — — (92,272 ) — — — — — (92,272 ) Hedging (2,365 ) — — (35,879 ) 60,501 — — — — — 22,257 Effects from exchange rate fluctuations 1,733 — — 45,904 — — — — 423 — 48,060 Remeasurements of the defined benefit plans — — — — — — (128,139 ) — — — (128,139 ) Deferred income taxes (79,345 ) 20,609 (3,369 ) 9,958 11,579 (3,291 ) 35,041 (11 ) (5,410 ) (653 ) (14,892 ) Transfer to other account — — — — — — — 10 2,635 — 2,645 Non-controlling (1,305 ) — — 482 — — 411 — — — (412 ) Ending balance W (51,300 ) (79,057 ) 4,891 (321,853 ) (17,751 ) 4,112 (346,682 ) (8 ) 54,258 170 (753,220 ) 2019 Items that are or may be reclassified to profit or loss Items that will never be reclassified to profit or loss Total Gain (loss) on Gain (loss) on Equity in Foreign Net gain Other Remeasure Equity in Gain (loss) on Gain (loss) on Beginning balance W (51,300 ) (79,057 ) 4,891 (321,853 ) (17,751 ) 4,112 (346,682 ) (8 ) 54,258 170 (753,220 ) Change due to fair value 491,953 225,706 3,353 — — 14,382 — (11 ) 19,935 (11,621 ) 743,697 Reclassification: Change due to impairment or disposal (23,281 ) — — — — — — — — — (23,281 ) Effect of hedge accounting — — — — (75,020 ) — — — — — (75,020 ) Hedging (731 ) — — (49,361 ) 50,083 — — — — — (9 ) Effects from exchange rate fluctuations — — — 147,899 — — — — 293 — 148,192 Remeasurements of the defined benefit plans — — — — — — (75,595 ) — — — (75,595 ) Deferred income taxes (115,856 ) (62,739 ) (51 ) 7,233 6,348 (3,955 ) 20,951 3 (7,204 ) 3,196 (152,074 ) Transfer to other account — — — — — — — — 5,860 — 5,860 Non-controlling (67,457 ) (12,289 ) — (1,383 ) 2,629 — (206 ) — — — (78,706 ) Ending balance W 233,328 71,621 8,193 (217,465 ) (33,711 ) 14,539 (401,532 ) (16 ) 73,142 (8,255 ) (260,156 ) (f) Appropriation of retained earnings Statements of appropriation of retained earnings for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Date of appropriation: March 27, 2019 March 26, 2020 Unappropriated retained earnings: Balance at beginning of year W 4,867,521 5,184,339 Net effect due to change in accounting policy (23 ) — Dividend to hybrid bonds (40,357 ) (61,993 ) Net income 1,234,883 1,129,173 6,062,024 6,251,519 Appropriation of retained earnings: Legal reserve (123,488 ) (112,917 ) Dividends Dividends on common stocks paid (753,041 ) (851,587 ) Dividends on preferred stocks paid — (32,342 ) Regulatory reserve for loan losses (1,156 ) (3,260 ) (877,685 ) (1,000,106 ) Unappropriated retained earnings to be carried over to subsequent year W 5,184,339 5,251,413 (*) These statements of appropriation of retained earnings are based on the separate financial statements of Shinhan Finance Group. (g) Regulatory reserve for loan losses In accordance with Regulations for the Supervision of Financial Institutions, the Group reserves the difference between allowance for credit losses by IFRS and that as required by the Regulations at the account of regulatory reserve for loan losses in retained earnings. i) Changes in regulatory reserve for loan losses including non-controlling 2018 2019 Beginning balance W 2,885,018 2,844,690 IFRS 9 adoption (388,551 ) — Business combination — 25,608 Planned regulatory reversal of loan losses 348,223 290,872 Ending balance W 2,844,690 3,161,170 ii) Profit attributable to equity holders of Shinhan Financial Group and earnings per share after factoring in regulatory reserve for loan losses for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Profit attributable to equity holders of Shinhan Financial Group W 3,156,722 3,403,497 Provision for regulatory reserve for loan losses (*1) (348,127 ) (292,728 ) Profit attributable to equity holders of Shinhan Financial Group adjusted for regulatory reserve W 2,808,595 3,110,769 Basic and diluted earnings per share adjusted for regulatory reserve in won (*2) 5,844 6,387 (*1) The increase in reserve for credit losses, W (*2) Dividends for hybrid bonds are deducted. (h) Treasury stock The acquisitions of treasury stock as of December 31, 2018 and 2019 are as follows: 2018 Beginning balance Acquisition Ending balance The number of share — 3,648,659 3,648,659 Carrying value W — 155,923 155,923 2019 Beginning balance Acquisition Ending balance The number of share 3,648,659 10,233,403 13,882,062 Carrying value W 155,923 444,077 600,000 (*) The Group entered into a treasury stock trust agreement with Samsung Securities Co., Ltd., and acquired treasury stocks. |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2019 | |
Dividends [Abstract] | |
Dividends | 30. Dividends (a) Details of dividends recognized as distributions to stockholders for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 (*1) Common Stock Total number of shares issued and outstanding W 474,199,587 474,199,587 Par value per share in won 5,000 5,000 Dividend per share in won 1,600 1,850 Dividends (*2) W 753,041 851,587 Dividend rate per share % 32.0 37.0 Preferred Stock Total number of shares issued and outstanding W — 17,482,000 Par value per share in won — 5,000 Dividend per share in won — 1,850 Dividends W — 32,342 Dividend rate per share % — 37.0 (*1) The dividend is the amount of dividend that will be paid on March 26, 2020 and is not recognized as a distribution to the owners during the year. (*2) Dividends on own shares held by the Group are excluded. (b) Dividend for hybrid bond was calculated as follows for the years ended December 31, 2018 and 2019: 2018 2019 Amount of hybrid bond W 1,538,150 1,738,150 Interest rate % 3.77 ~ 5.88 3.27 ~ 5.88 Dividend W 40,357 61,993 |
Net interest income
Net interest income | 12 Months Ended |
Dec. 31, 2019 | |
Details of Net interest income [Abstract] | |
Net interest income | 31. Net interest income Net interest income for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Interest income: Cash and due from banks W 167,793 — — Cash and deposits at amortized cost — 155,075 210,415 Deposits at FVTPL — 33,845 31,506 Trading assets 489,836 — — Financial assets designated at fair value through profit or loss 57,899 — — Securities at FVTPL — 623,651 740,378 Securities at FVOCI — 759,301 1,077,995 Securities at amortized cost — 730,382 1,061,262 Available-for-sale 671,912 — — Held-to-maturity 651,107 — — Loans 9,673,635 — — Loans at amortized cost — 11,158,558 12,435,302 Loans at FVTPL — 23,110 56,961 Others 86,472 88,534 93,543 11,798,654 13,572,456 15,707,362 Interest expense: Deposits (2,482,415 ) (3,091,659 ) (3,644,632 ) Borrowings (352,069 ) (468,068 ) (551,416 ) Debt securities issued (1,085,366 ) (1,336,840 ) (1,666,257 ) Others (35,851 ) (95,800 ) (107,093 ) (3,955,701 ) (4,992,367 ) (5,969,398 ) Net interest income W 7,842,953 8,580,089 9,737,964 |
Net fees and commission income
Net fees and commission income | 12 Months Ended |
Dec. 31, 2019 | |
Details of Net fees and commission income [Abstract] | |
Net fees and commission income | 32. Net fees and commission income Net fees and commission income for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Fees and commission income: Credit placement fees W 59,133 62,766 66,666 Commission received as electronic charge receipt 142,755 146,309 151,584 Brokerage fees 373,108 412,165 353,382 Commission received as agency 129,460 120,508 140,484 Investment banking fees 66,191 91,273 151,031 Commission received in foreign exchange activities 197,705 214,395 244,325 Asset management fees 190,802 235,275 307,167 Credit card fees 2,369,745 1,360,322 1,234,239 Operating lease fees (*) 28,033 82,141 142,025 Others 488,023 570,102 766,110 4,044,955 3,295,256 3,557,013 Fees and commission expense: Credit-related fee (35,665 ) (36,817 ) (42,023 ) Credit card fees (1,988,826 ) (944,533 ) (915,521 ) Others (309,510 ) (374,909 ) (458,950 ) (2,334,001 ) (1,356,259 ) (1,416,494 ) Net fees and commission income W 1,710,954 1,938,997 2,140,519 (*) Among operating lease fees recognized during the current period, there is no variable lease fee income which does not vary by index or rate. |
Dividend income
Dividend income | 12 Months Ended |
Dec. 31, 2019 | |
Details of Dividend income [Abstract] | |
Dividend income | 33. Dividend income Dividend income for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Securities at FVTPL W — 70,955 65,572 Trading assets 57,615 — — Securities at FVOCI — 16,871 16,586 Available-for-sale 199,691 — — W 257,306 87,826 82,158 |
Net gain (loss) on financial in
Net gain (loss) on financial instruments measured at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2019 | |
Net gain (loss) on financial instruments measured at fair value through profit or loss [Abstract] | |
Net gain (loss) on financial instruments measured at fair value through profit or loss | 34. Net gain (loss) on financial instruments measured at fair value through profit or loss Net gain (loss) on financial instruments measured at fair value through profit or loss for the ended December 31, 2018 and 2019 are as follows: 2018 2019 Net gain (loss) on deposits measured at FVTPL Gain (loss) on valuation W (61,848 ) 87,374 Gain on sale — 13,400 (61,848 ) 100,774 Net gain (loss) on loans measured at FVTPL Gain (loss) on valuation 916 (248,032 ) Gain on sale 9,133 10,395 10,049 (237,637 ) Net gain (loss) on securities measured at FVTPL Debt securities Gain on valuation 111,029 137,181 Gain on sale 78,718 125,431 Other gains 223,731 297,024 413,478 559,636 Equity securities Gain on valuation 286,801 141,246 Gain (loss) on sale (275,356 ) 183,969 11,445 325,215 Other Gain on valuation 19,086 28,803 Net gain (loss) on financial liabilities measured at FVTPL Debt securities Loss on valuation (115,667 ) (16,810 ) Gain (loss) on disposition 268,932 (35,710 ) 153,265 (52,520 ) Other Loss on valuation (14,892 ) (91,025 ) Gain on disposition 1,394 4,169 (13,498 ) (86,856 ) Derivatives Gain (loss) on valuation (291,879 ) 388,880 Gain on transaction 179,928 359,187 (111,951 ) 748,067 W 420,026 1,385,482 |
Net trading income (loss)
Net trading income (loss) | 12 Months Ended |
Dec. 31, 2019 | |
Net trading income (loss) [Abstract] | |
Net trading income (loss) | 35. Net trading income (loss) Net trading income (loss) for the year ended December 31, 2017 are as follows: 2017 Trading assets: Debt securities: Loss on valuation W (90,442 ) Gain (loss) on sale (93,528 ) (183,970 ) Equity securities: Gain on valuation 187,442 Gain on sale 128,118 315,560 Other: Gain (loss) on valuation 5,782 Trading liabilities: Debt securities: Gain (loss) on valuation (138,134 ) Gain (loss) on disposition (20,610 ) (158,744 ) Other: Gain (loss) on valuation 260 Gain on disposition 2,440 2,700 Derivatives: Gain (loss) on valuation 369,225 Gain on transaction 612,670 981,895 W 963,223 |
Net gain (loss) on financial _2
Net gain (loss) on financial instruments designated at fair value through profit or loss(IFRS9) | 12 Months Ended |
Dec. 31, 2019 | |
Net gain (loss) on financial instruments designated at fair value through profit or loss(IFRS9) [Abstract] | |
Net gain (loss) on financial instruments designated at fair value through profit or loss(IFRS9) | 36. Net gain (loss) on financial instruments designated at fair value through profit or loss (IFSR9) Net gain (loss) on financial instruments designated at fair value through profit or loss for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Financial assets designated at fair value through profit or loss: Equity securities: Loss on sale W (4,737 ) — Financial liabilities designated at fair value through profit or loss: Borrowings: Gain (loss) on valuation 382,667 (33,871 ) Loss on sale and redemption (404,573 ) (812,175 ) W (26,643 ) (846,046 ) |
Net gain (loss) on financial _3
Net gain (loss) on financial instruments designated at fair value through profit or loss(IAS39) | 12 Months Ended |
Dec. 31, 2019 | |
Net gain (loss) on financial instruments designated at fair value through profit or loss(IAS39) [Abstract] | |
Net gain (loss) on financial instruments designated at fair value through profit or loss(IAS39) | 37. Net gain (loss) on financial instruments designated at fair value through profit or loss (IAS39) Net gain (loss) on financial instruments designated at fair value through profit or loss for the year ended December 31, 2017 were as follows: 2017 Financial assets designated at fair value through profit or loss: Other securities: Gain on valuation W 13,020 Debt securities: Gain (loss) on valuation (65,475 ) Gain on sale and redemption 11,673 (53,802 ) Equity securities: Dividend income 51 Loss on valuation (78,633 ) Gain on sale 5,622 (72,960 ) Financial liabilities designated at fair value through profit or loss: Other securities: Gain (loss) on valuation — Loss on disposal and redemption (43 ) (43 ) Borrowings: Gain (loss) on valuation (100,685 ) Loss on disposal and redemption (845,356 ) (946,041 ) W (1,059,826 ) |
Provision for allowance for cre
Provision for allowance for credit loss | 12 Months Ended |
Dec. 31, 2019 | |
Provision for allowance for credit loss [Abstract] | |
Provision for allowance for credit loss | 38. Provision for allowance for credit loss Provision for allowance for credit loss on financial assets for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Loans at amortized cost W (704,515 ) (910,898 ) Other financial assets at amortized cost (24,070 ) (33,945 ) Securities at fair value through other comprehensive income (12,066 ) (5,787 ) Others (unused credit line and financial guarantee, etc) (4,826 ) (29,519 ) Securities at amortized cost (2,400 ) (543 ) W (747,877 ) (980,692 ) |
Net impairment loss on financia
Net impairment loss on financial assets | 12 Months Ended |
Dec. 31, 2019 | |
Net impairment loss on financial assets [Abstract] | |
Net impairment loss on financial assets | 39. Net impairment loss on financial assets Net impairment loss on financial assets for the year ended December 31, 2017 were as follows: 2017 (*) Impairment losses on: Loans W (799,577 ) Available-for-sale (202,360 ) Other financial assets (15,672 ) (1,017,609 ) Reversal of impairment losses on: Available-for-sale 4,061 W (1,013,548 ) (*) As the acquisition of ANZ Retail business by Shinhan Bank of Vietnam was completed, the amount was adjusted retrospectively. |
General and administrative expe
General and administrative expenses | 12 Months Ended |
Dec. 31, 2019 | |
General and Administrative Expense [Abstract] | |
General and administrative expenses | 40. General and administrative expenses General and administrative expenses for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Employee benefits: Salaries W 2,668,224 2,736,604 2,918,065 Severance benefits: Defined contribution 21,040 23,745 35,972 Defined benefit 173,080 133,749 168,732 Termination benefits 285,158 115,275 122,732 3,147,502 3,009,373 3,245,501 Entertainment 29,039 30,442 36,931 Depreciation 173,541 171,771 479,657 Amortization 66,860 73,575 99,208 Taxes and dues 165,689 176,133 197,691 Advertising 271,819 287,688 265,739 Research 14,093 13,928 17,742 Others 942,655 978,665 792,205 W 4,811,198 4,741,575 5,134,674 |
Share-based payments
Share-based payments | 12 Months Ended |
Dec. 31, 2019 | |
Share-based payments [Abstract] | |
Share-based payments | 41. Share-based payments (a) Stock options granted as of December 31, 2019 are as follows: 5th grant (*1) 6th grant (*1) 7th grant (*1)(*2) Type Cash payment Cash payment Cash payment Grant date March 21, 2006 March 20, 2007 March 19, 2008 Exercise price in won W W W Number of shares granted 3,296,200 1,301,050 808,700 Options expiry dates August 21, 2019 August 19, 2020 May 17, 2021/ September 17,2021 Changes in number of shares granted: Balance at January 1, 2019 2,500 58,764 45,628 Exercised and cancelled 2,500 — 9,466 Balance at December 31, 2019 — 58,764 36,162 W (Expiration of exercise period : Fair value per share in won — W 88 W (Expiration of exercise period : Sep 17, 2021) (*1) The weighted average exercise price for 94,926 stock options outstanding at December 31, 2019 is W (*2) As of December 31, 2019, the exercise of the remaining for 9,466 stock options (7th grant) was cancelled. (b) Performance shares granted as of December 31, 2019 are as follows: Expired Not expired Type Cash-settled share-based payment Performance conditions Increase rate of the stock price and achievement of target ROE Operating period 4 or 5 years Estimated number of shares vested at December 31, 2019 20,427 2,074,713 Fair value per share in won W W W W W for the expiration of W The amount of cash payment for the Group’s cash-settled share-based payment arrangements with performance conditions is determined at the fourth anniversary date from the grant date based on the share price which is an arithmetic mean of weighted average share prices of the past two-months, one-month one-week. (c) Share-based compensation costs for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 Employees of The controlling The subsidiaries Total Stock options granted: 4th W 67 413 480 5th 48 757 805 6th 26 159 185 7th 83 120 203 Performance share 1,782 15,717 17,499 W 2,006 17,166 19,172 2018 Employees of The controlling The subsidiaries Total Stock options granted: 4th W — (14 ) (14 ) 5th — (19 ) (19 ) 6th (23 ) (139 ) (162 ) 7th (59 ) (86 ) (145 ) Performance share 1,154 9,768 10,922 W 1,072 9,510 10,582 2019 Employees of The controlling The subsidiaries Total Stock options granted: 5th W — 9 9 6th (3 ) (15 ) (18 ) 7th (5 ) (6 ) (11 ) Performance share 4,678 32,646 37,324 W 4,670 32,634 37,304 (d) Accrued expenses and the intrinsic value as of December 31, 2018 and 2019 are as follows: 2018 Accrued expenses (*) The controlling The subsidiaries Total Stock options granted: 5th W — 7 7 6th 3 20 23 7th 24 33 57 Performance share 7,328 61,790 69,118 W 7,355 61,850 69,205 (*) The intrinsic value of share-based payments is W W 2019 Accrued expenses (*) The controlling The subsidiaries Total Stock options granted: 6th W 1 4 5 7th 19 27 46 Performance share 10,003 81,352 91,355 W 10,023 81,383 91,406 (*) The intrinsic value of share-based payments is W W |
Net other operating expense
Net other operating expense | 12 Months Ended |
Dec. 31, 2019 | |
Net other operating expense [Abstract] | |
Net other operating expense | 42. Net other operating expense Other operating income and other operating expense for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Other operating income Gain on sale of assets: Loans W 50,707 — — Loans at amortized cost — 40,624 18,298 Others: Gain on hedged items 634,695 418,390 564,438 Reversal of allowance for acceptances and guarantee — 2,834 19,329 Gain on trust account 14 — 27 Reversal of other allowance 286,932 5,033 11,194 Others 82,375 131,345 97,777 1,004,016 557,602 692,765 1,054,723 598,226 711,063 Other operating expense Loss on sale of assets: Loans (8,394 ) — — Loans at amortized cost — (14,271 ) (27,291 ) Others: Loss on hedged items (629,754 ) (406,872 ) (596,533 ) Contribution (252,419 ) (283,331 ) (311,336 ) Provision for acceptances and guarantee allowance (2,548 ) — — Provision for other allowance (12,133 ) (13,036 ) (6,939 ) Depreciation of operating lease assets (12,943 ) (56,570 ) (98,288 ) Others (599,524 ) (653,501 ) (857,918 ) (1,509,321 ) (1,413,310 ) (1,871,014 ) (1,517,715 ) (1,427,581 ) (1,898,305 ) Net other operating expenses W (462,992 ) (829,355 ) (1,187,242 ) |
Net other non-operating income
Net other non-operating income | 12 Months Ended |
Dec. 31, 2019 | |
Net other non-operating income [Abstract] | |
Net other non-operating income | 43. Net other non-operating Other non-operating non-operating 2017 2018 2019 Other non-operating Gain on disposal of assets: Property and equipment (*) W 5,278 12,611 1,452 Investment property 219 4,783 12,640 Assets held for sale 22,748 — — Lease assets 605 1,153 1,681 Right-of-use — — 1,112 Others 125 — 407 28,975 18,547 17,292 Gain on disposal of Investments in associates 8,891 17,427 3,461 Others: Rental income on investment property 33,023 32,488 43,777 Reversal of impairment losses on intangible asset 91 62 438 Gain from assets contributed 1,067 77 86 Others 67,535 49,276 82,879 101,716 81,903 127,180 139,582 117,877 147,933 Other non-operating Loss on disposal of assets: Property and equipment (*) (2,642 ) (3,082 ) (870 ) Investment property (1,627 ) (2,958 ) — Lease assets (1,282 ) (3,964 ) (3,221 ) Right-of-use — — (306 ) Others (149 ) (3 ) — (5,700 ) (10,007 ) (4,397 ) Loss on disposal of investments in associates (1,332 ) (11,546 ) (3,974 ) Impairment loss on investments in associates (144 ) (5,849 ) — (1,476 ) (17,395 ) (3,974 ) Others: Donations (140,243 ) (88,650 ) (94,937 ) Depreciation of investment properties (16,095 ) (16,917 ) (17,565 ) Impaired loss on property and equipment (16 ) — — Impaired loss on intangible assets (271 ) (771 ) (152,081 ) Write-off (1,210 ) (1,537 ) (9,221 ) Collecting of written-off (7,162 ) (6,048 ) (7,322 ) Others (20,220 ) (26,844 ) (46,465 ) (185,217 ) (140,767 ) (327,591 ) (192,393 ) (168,169 ) (335,962 ) Net other non-operating W (52,811 ) (50,292 ) (188,029 ) (*) Gains or losses on sale and leaseback transactions are included in gains or losses on disposal of property and equipment respectively, and there are no gains or losses recognized on sale and leaseback transactions for the year ended December 31, 2019 |
Income tax expense
Income tax expense | 12 Months Ended |
Dec. 31, 2019 | |
Income tax expense [Abstract] | |
Income tax expense | 44. Income tax expense (a) Income tax expense for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 (*) 2018 2019 Current income tax expense W 726,384 896,755 1,115,724 Temporary differences 46,468 383,190 296,244 Income tax recognized in other comprehensive income 75,551 (11,600 ) (142,844 ) Income tax expenses W 848,403 1,268,345 1,269,124 (*) As the acquisition of ANZ Retail business by Shinhan Bank of Vietnam was completed, the amount was adjusted retrospectively. (b) Income tax expense calculated by multiplying net income before tax with the tax rate for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 (*) 2018 2019 Profit before income taxes W 3,797,608 4,466,610 4,911,508 Income taxes at statutory tax rates 917,802 1,222,840 1,345,187 Adjustments: Non-taxable (33,879 ) (9,561 ) 8,500 Non-deductible 12,772 12,854 18,461 Tax credit (195 ) (23,317 ) (2,289 ) Changes in deferred tax due to change in tax rate (72,985 ) — — Other 24,888 65,529 (100,735 ) Income tax expense W 848,403 1,268,345 1,269,124 Effective tax rate % 22.34 28.40 25.84 (*) As the acquisition of ANZ Retail business by Shinhan Bank of Vietnam was completed, the amount was adjusted retrospectively. (c) Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences for the years ended December 31, 2018 and 2019 are as follows: 2018 Beginning Profit or Other Ending Unearned income W (202,069 ) (53,267 ) — (255,336 ) Account receivable (19,267 ) (4,872 ) — (24,139 ) Financial assets at fair value through profit or loss (47,548 ) 79,000 16,825 48,277 Securities at fair value through other comprehensive income 307,729 (47,548 ) (82,823 ) 177,358 Investment in associates 24,918 3,205 (3,380 ) 24,743 Valuation and depreciation of property and equipment (163,313 ) 1,317 — (161,996 ) Derivative asset (liability) (70,828 ) 171,000 11,579 111,751 Deposits 27,904 132 — 28,036 Accrued expenses 171,310 (38,621 ) — 132,689 Defined benefit obligation 408,266 6,965 32,427 447,658 Plan assets (411,935 ) (37,117 ) 2,729 (446,323 ) Other provisions 191,298 3,177 — 194,475 Allowance for acceptances and guarantees 23,929 5,228 — 29,157 Allowance related to asset revaluation (52,886 ) 3,173 — (49,713 ) Allowance for expensing depreciation (529 ) 64 — (465 ) Deemed dividend 5,317 (5,317 ) — — Accrued contributions 11,904 9,807 — 21,711 Financial instruments designated at fair value through profit of loss (7,194 ) (80,214 ) — (87,408 ) Allowances 131,222 (82,438 ) — 48,784 Fictitious dividend 4,990 (3,665 ) — 1,325 Liability under insurance contracts 18,105 4,488 — 22,593 Deficit carried over 1,505 (1,505 ) — — Other 59,471 (296,190 ) 11,043 (225,676 ) 412,299 (363,198 ) (11,600 ) 37,501 Expired unused tax losses: Extinguishment of deposit and insurance liabilities 375,807 (8,363 ) — 367,444 W 788,106 (371,561 ) (11,600 ) 404,945 (*1) Changes in the scope of application of IFRS 9 and 15 have been reflected. (*2) Deferred tax assets from overseas subsidiaries were increased by W 2019 Beginning Business Profit or Other Ending Unearned income W (255,336 ) (62,077 ) (14,266 ) — (331,679 ) Account receivable (24,139 ) — (2,185 ) — (26,324 ) Financial assets at fair value through profit or loss 48,277 9,284 (20,972 ) (56,654 ) (20,065 ) Securities at fair value through other comprehensive income 177,358 (554,017 ) 425,491 (130,344 ) (81,512 ) Investment in associates 24,743 — (5,937 ) (48 ) 18,758 Valuation and depreciation of property and equipment (161,996 ) — 10,950 — (151,046 ) Derivative asset (liability) 111,751 (1,132 ) (97,147 ) 7,533 21,005 Deposits 28,036 — 2,605 — 30,641 Accrued expenses 132,689 15,298 (2,493 ) — 145,494 Defined benefit obligation 447,658 4,805 33,321 20,348 506,132 Plan assets (446,323 ) (4,610 ) (57,165 ) 958 (507,140 ) Other provisions 194,475 2,283 16,297 — 213,055 Allowance for acceptances and guarantees 29,157 42,234 8,623 — 80,014 Allowance related to asset revaluation (49,713 ) — — — (49,713 ) Allowance for expensing depreciation (465 ) — 64 — (401 ) Deemed dividend — — — — — Accrued contributions 21,711 — 15,107 — 36,818 Financial instruments designated at fair value through profit of loss (87,408 ) — 130,225 — 42,817 Allowances 48,784 — (10,716 ) — 38,068 Fictitious dividend 1,325 — 16 — 1,341 Liability under insurance contracts 22,593 — 1,554 — 24,147 Deficit carried over — — — — — Other (225,676 ) 204,351 (537,808 ) 15,363 (543,770 ) 37,501 (343,581 ) (104,436 ) (142,844 ) (553,360 ) Expired unused tax losses: Extinguishment of deposit and insurance liabilities 367,444 — (47,433 ) — 320,011 W 404,945 (343,581 ) (151,869 ) (142,844 ) (233,349 ) (*) Deferred tax assets from overseas subsidiaries were increased by W (d) Deferred tax assets and liabilities that were directly charged or credited to equity for the years ended December 31, 2018 and 2019 are as follows: January 1, 2018 Changes December 31, 2018 OCI Tax effect OCI Tax effect OCI Tax effect Gain (loss) on valuation of financial assets measured at FVOCI W (255,593 ) 76,124 267,306 (84,878 ) 11,713 (8,754 ) Gain (loss) on financial liabilities measured at FVTPL attributable to changes in credit risk (2,141 ) 588 2,376 (653 ) 235 (65 ) Foreign currency translation adjustments for foreign operations (317,264 ) (25,054 ) 10,498 9,967 (306,766 ) (15,087 ) Gain (loss) on cash flow hedge 7,286 (4,845 ) (31,771 ) 11,578 (24,485 ) 6,733 Equity in other comprehensive income of associates (5,868 ) 3,306 10,825 (3,380 ) 4,957 (74 ) The accumulated other comprehensive income in separate account (*) (6,295 ) 1,731 11,967 (3,291 ) 5,672 (1,560 ) Remeasurements of the defined benefit liability (349,538 ) 95,543 (127,844 ) 35,157 (477,382 ) 130,700 Gain (loss) on valuation of financial asset measured at FVTPL (Overlay approach) (33,713 ) 8,988 (74,942 ) 20,609 (108,655 ) 29,597 Income tax charged or credited directly to equity W (963,126 ) 156,381 68,415 (14,891 ) (894,711 ) 141,490 January 1, 2019 Changes December 31, 2019 OCI Tax effect OCI Tax effect OCI Tax effect Gain (loss) on valuation of financial assets measured at FVOCI W 11,713 (8,754 ) 427,657 (124,147 ) 439,370 (132,901 ) Gain (loss) on financial liabilities measured at FVTPL attributable to changes in credit risk 235 (65 ) (11,621 ) 3,196 (11,386 ) 3,131 Foreign currency translation adjustments for foreign operations (306,766 ) (15,087 ) 98,418 5,970 (208,348 ) (9,117 ) Gain (loss) on cash flow hedge (24,485 ) 6,733 (23,492 ) 7,533 (47,977 ) 14,266 Equity in other comprehensive income of associates 4,957 (74 ) 3,343 (48 ) 8,300 (122 ) The accumulated other comprehensive income in separate account (*) 5,672 (1,560 ) 14,382 (3,955 ) 20,054 (5,515 ) Remeasurements of the defined benefit liability (477,382 ) 130,700 (76,156 ) 21,306 (553,538 ) 152,006 Gain (loss) on valuation of financial asset measured at FVTPL (Overlay approach) (108,655 ) 29,597 207,333 (56,654 ) 98,678 (27,057 ) Income tax charged or credited directly to equity W (894,711 ) 141,490 639,864 (146,799 ) (254,847 ) (5,309 ) (*) Deferred tax effects, which are originated from the accumulated other comprehensive income in separate account, were included in the other liabilities of separate account’s financial statement. (e) The amount of deductible temporary differences, unused tax losses, and unused tax credits that are not recognized as deferred tax assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Tax loss carry forward W 99,449 — (f) The amount of temporary difference regarding investment in subsidiaries that are not recognized as deferred tax liabilities as of December 31, 2018 and 2019 are as follows: 2018 2019 Investment in associates W (686,107 ) (766,888 ) (g) The Group set off a deferred tax asset against a deferred tax liability of the same taxable entity if, and only if, they relate to income taxes levied by the same taxation authority and the entity has a legally enforceable right to set off current tax assets against current tax liabilities. Deferred tax assets and liabilities presented on a gross basis prior to any offsetting as of December 31, 2018 and 2019 are as follows: 2018 2019 Deferred tax assets W 483,517 518,337 Deferred tax liabilities (78,572 ) (751,686 ) (h) As of December 31, 2019, the Group has filed a dispute against the tax authorities and the courts for the refund of the corporate tax on seven cases (claim amount: W |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2019 | |
Earnings per share [Abstract] | |
Earnings per share | 45. Earnings per share Basic and diluted earnings per share for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 (*2) 2018 2019 Profit attributable to equity holders of Shinhan Financial Group W 2,918,816 3,156,722 3,403,497 Less: Dividends to hybrid bond (17,678 ) (40,357 ) (61,993 ) Net profit available for common stock W 2,901,138 3,116,365 3,341,504 Weighted average number of common shares outstanding (*1) 474,199,587 473,649,076 477,346,731 Basic and diluted earnings per share in won W 6,118 6,579 7,000 (*1) The number of basic ordinary shares outstanding is 474,199,587 shares and the above weighted-average stocks are calculated by reflecting treasury stocks issued and 17,482,000 shares of convertible preferred shares issued on May 1, 2019. If the convertible preferred shares issued during the year are not included in common stocks, the basic and diluted earnings per share of the net profit of the Group is W (*2) As the acquisition of ANZ Retail business by Shinhan Bank of Vietnam was completed, the amount was adjusted retrospectively. |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and contingencies [Abstract] | |
Commitments and contingencies | 46. Commitments and contingencies (a) Guarantees, acceptances and credit commitments as of December 31, 2018 and 2019 are as follows: 2018 2019 Guarantees: Guarantees outstanding W 9,437,691 9,319,885 Contingent guarantees 3,985,532 3,669,697 13,423,223 12,989,582 Commitments to extend credit: Loan commitments in won 69,906,336 74,393,722 Loan commitments in foreign currency 19,967,297 22,542,776 ABS and ABCP commitments 2,083,522 2,116,354 Others 73,816,233 81,387,165 165,773,388 180,440,017 Endorsed bills: Secured endorsed bills 37,667 11,287 Unsecured endorsed bills 7,758,242 6,737,097 7,795,909 6,748,384 Loans sold with recourse 2,099 2,099 W 186,994,619 200,180,082 (b) Legal contingencies The Group’s pending lawsuits as a defendant as of December 31, 2019 are as follows: Case Number of Descriptions Claim amount Payment Guarantee 1 The plaintiff filed claims against the Group for guarantee deposit of receivable-backed ABL of KT ENS. The case are currently pending in its second appeal. W 10,767 Compensation for a loss 1 According to the asset custody contract, the plaintiff is liable for damages caused by a fire in the property of the real estate investment company in which the Group is holding assets. In 2015 and 2017, the plaintiffs prevailed, but the first and second decisions were different. 6,893 Confirm deposit accounts 1 Hanwha Savings Bank, a party to the lender of Meat Loan, filed a lawsuit against all creditors to confirm deposit accounts for the sale of frozen meat. As a result, the lawsuit has been commissioned by the legal firm proceed a Matron’s private lawsuit related the Group. 5,575 Others 425 Compensation for a loss claim, etc. 234,131 428 W 257,366 As of the December 31, 2019, the Group has recorded W W (c) The Group entered into an agreement with Asia Trust Co., Ltd. (60% of its total shares) to acquire remaining stake in the Group. In accordance with the agreement, the Group has the right to purchase shares held by the shareholders of Asia Trust Co., Ltd. In response, the shareholders of Asia Trust Co., Ltd. have the right to demand to purchase the shares to the Group. (d) In relation to Asia Trust Co., Ltd., (“Asia Trust”) a subsidiary of the Group, a number of complaints have arisen due to misuse of the seals discarded by employees prior to the Group’s acquisition of Asia Trust. Some of them filed a lawsuit against the Group (claim amount of W (e) Regarding the currency option contracts, the Group has received the dispute arbitration request from the Financial Dispute Arbitration Committee on December 19, 2019; the Group will proceed with Board of Directors’ decision. The Group’s management anticipates that the result of the adjustment will not have a significant impact on the Group’s financial position. (f) The Group as the Prime Brokerage Service provider has performed the TRS transactions (Total Return Swap: Derivatives that exchange risk with income from underlying assets, such as stocks, bonds, funds, etc.) as per the TRS Agreement with a fund managed by Lime Asset Management (“Lime Fund”). Through the TRS Agreement with the Group, Lime Fund indirectly invested about $200 million of IIG Global Trade Finance Fund, IIG Trade Finance Fund and IIG Trade Finance Fund-FX In accordance with the Lime Fund’s directions in 2019, the Group invested IIG Fund in kind in LAM Enhanced Finance III L.P. (“LAM III Fund”) and acquired the LAM III Fund’s beneficiary certificates. The recoverable amount on the LAM III Fund beneficiary certificates is affected by the recoverable amounts of the IIG funds contributed in kind. The IIG Funds received cancellation of registration and asset freeze order from the U.S Securities and Exchange Commission in November 2019. The Financial Supervisory Service (“FSS”) announced in February 2020 that the Group was suspected of being involved in misconduct and fraudulent activities while the Group made the TRS transactions with the Lime Asset Management. The related prosecutors’ investigations on Lime Asset Management are also underway. As of now whether the Group as the Prime Brokerage Service provider is legally responsible depends on the FSS’s additional inspections, prosecutors’ inspections and the future litigation; and the legal obligation of the Group relating to the suspected involvement in the fraudulent activities is not determined. In addition, some of the private equity funds sold by the Group and managed by Lime Asset management are being inspected for whether any mis-selling mis-selling |
Statement of cash flows
Statement of cash flows | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of cash flow statement [Abstract] | |
Statement of cash flows | 47. Statement of cash flows (a) Cash and cash equivalents in the consolidated statements of cash flows as of December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Cash and due from banks W 22,682,652 — — Cash and due from banks at amortized cost — 17,363,450 28,435,818 Adjustments: Due from financial institutions with a maturity over three months from date of acquisition (3,010,471 ) (3,008,188 ) (3,349,719 ) Restricted due from banks (13,435,531 ) (6,175,506 ) (16,506,925 ) W 6,236,650 8,179,756 8,579,174 (b) Significant non-cash 2017 2018 2019 Debt-equity swap W 32,530 28,759 224,093 Transfers from construction-in-progress 14,285 6,319 76,004 Transfers between property and equipment and investment property 91,782 28,199 104,573 Transfers between assets held for sale and property and equipment 5,336 80 455 Transfers between investment property and assets held for sale 6,306 — 15,795 Accounts payable for purchase of intangible assets, etc. — 1,047 472,798 Transaction for right-of-use — — 1,376,764 (c) Changes in assets and liabilities arising from financing activities for the years ended December 31, 2018 and 2019 are as follows: 2018 Assets Liabilities Derivative Derivative Borrowings Debentures Total Balance at January 1, 2018 W 3,966 146,278 27,586,610 51,340,821 79,077,675 Changes from cash flows (5,845 ) (12,002 ) 1,772,203 11,798,466 13,552,822 Changes from non-cash Amortization of discount on borrowings and debentures — — 181,050 335,935 516,985 Changes in foreign currency exchange rate — — 955,512 229,277 1,184,789 Others 9,356 (49,697 ) (676,833 ) (476,800 ) (1,193,974 ) Balance at December 31, 2018 W 7,477 84,579 29,818,542 63,227,699 93,138,297 2019 Assets Liabilities Derivative Derivative Borrowings Debentures Lease Total Balance at January 1, 2019 W 7,477 84,579 29,818,542 63,227,699 536,842 93,675,139 Changes from cash flows — (21,958 ) 5,017,269 11,201,673 (269,362 ) 15,927,622 Changes from non-cash Amortization of discount on borrowings and debentures — — 58,320 352,524 11,291 422,135 Changes in foreign currency exchange rate — — 173,623 282,534 — 456,157 Others 47,020 (13,946 ) (204,598 ) 298,934 792,901 920,311 Business combination(Note 50) — — — — 32,587 32,587 Balance at December 31, 2019 W 54,497 48,675 34,863,156 75,363,364 1,104,259 111,433,951 (*) At the beginning balance of 2019, the lease liabilities are included due to the adoption of IFRS 16. |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2019 | |
Related parties [Abstract] | |
Related parties | 48. Related parties Intra-group balances, and income and expenses arising from intra-group transactions are eliminated in preparing the consolidated financial statements. (a) Balances with the related parties as of December 31, 2018 and 2019 are as follows: Related party Account 2018 2019 Investments in associates: BNP Paribas Cardif Life Insurance Other assets W 9,860 92 ” Credit card loans 116 173 ” Deposits 444 402 Partners 4th Growth Investment Fund Deposits 1,855 1,443 BNP Paribas Cardif General Insurance Credit card loans 29 26 ” Allowances for credit Loss (“ACL”) (2 ) — ” Other assets — 401 ” Deposits 157 17 Shinhan Praxis K-Growth Other assets 151 91 Dream High Fund III Deposits 4 5 Midas Dong-A Deposits 159 — Credian Healthcare Private Equity Fund II Deposits 45 4 Midas Dong-A Deposits 354 233 IBKS-Shinhan Creative Economy New Technology Fund II (*1) Deposits 672 — Eum Private Equity Fund No.3 Deposits 49 353 SHBNPP Private Korea Equity Long-Short Professional Feeder (*2) Other assets 133 — Shinhan Global Healthcare Fund 1 Unearned revenue 360 — Shinhan Fintech New Technology Fund No.1 (*1) Unearned revenue 123 — Taihan Industrial System Co., Ltd. (*3) Deposits 85 — Incorporated association Finance Saving Information Center Credit card loans 3 — Deposits 4 6 GX Shinhan interest 1 st Unearned revenue 278 248 Nomura investment property trust No.19 Loans 11,966 11,973 ” Other assets 45 42 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 Other assets 236 678 Shinhan-Stonebridge Petro Private Equity Fund Other assets 484 810 Korea Finance Security Deposits — 362 SHINHAN-CORE TREND GLOBAL FUND 1 Unearned revenue — 9 Hermes Private Investment Equity Fund Deposits — 275 Multimedia Tech Co.Ltd Deposits — 3 Korea Credit Bureau Deposits — 80 Goduck Gangil1 PFV Co., Ltd Loans — 24,000 ” ACL — (78 ) SBC PFV Co., Ltd Deposits — 5,142 GMG Development Co,. Ltd Deposits — 300 Sprott Global Renewable Private Equity Fund I Deposits — 342 IMM Global Private Equity Fund Loans — 800 ” ACL — (3 ) ” Deposits — 7,598 Key management personnel and their immediate relatives: Loans 3,313 4,426 Assets 26,334 43,431 Liabilities W 4,589 16,822 (*1) Excluded from related parties due to the disposal or liquidation. (*2) As the Group held control due to increases in the equity ratio during the year, it was changed from an associates to a consolidated subsidiary. (*3) As the Group does not have significant influence to this entity, this has been removed from the related parties for the year ended December 31, 2019. (b) Transactions with the related parties for the years ended December 31, 2017, 2018 and 2019 are as follows: Related party Account 2017 2018 2019 Investments in associates BNP Paribas Cardif Life Insurance Fees and commission income W 4,631 3,716 4,230 ” Reversal of credit losses — 4 3 ” Provision for credit losses (3 ) — — ” Other operating expenses — — (1 ) ” General and administrative expenses (10 ) (17 ) (9 ) Shinhan Praxis K-Growth Fees and commission income 689 685 448 BNP Paribas Cardif General Insurance Fees and commission income 4 9 11 ” Reversal of credit losses 1 — — ” Provision for credit losses — (2 ) — ” Other operating income — — 468 Midas Dong-A Fees and commission income 38 47 119 ” Interest expense (3 ) (2 ) (1 ) SP New Technology Business investment Fund I (*2) Fees and commission income 41 317 — IBKS-Shinhan Creative Economy New Technology Fund (*2) Fees and commission income W 37 13 380 ” Interest expense (2 ) — — IBKS-Shinhan Creative Economy New Technology Fund 2 (*1) Fees and commission income 25 16 8 SM New Technology Business Investment Fund I Fees and commission income 55 55 14 JAEYOUNG SOLUTEC CO., LTD. (*2) Interest income 654 523 — ” Fees and commission income 1 2 — ” Other operating income 3 3 — ” Reversal of credit losses 1 — — ” Interest expense (4 ) (2 ) — ” Provision for credit losses (55 ) (1 ) — The Asia Pacific Capital Fund II L.P. Fees and commission income 85 — — Partners 4th Growth Investment Fund Interest expense (16 ) (19 ) (7 ) Shinhan-Albatross Technology Investment Fees and commission income 152 216 216 ” Interest expense (21 ) — — SHBNPP Private Korea Equity Long-Short Professional Feeder (*3) Fees and commission income 892 975 363 Branbuil CO., LTD. Fees and commission income 2 — — KDBC Midas Dong-A Interest expense — (2 ) — STI-New Fees and commission income 30 16 — Shinhan Fintech New Technology Fund No.1 (*1) Fees and commission income 30 153 38 KTB New lake medical Global Investment Interest income 10 — — ” Other operating expenses (13 ) — — Shinhan Global health Care Investment No.1 Fees and commission income 282 785 360 Taihan Industrial System Co., Ltd. (*4) Fees and commission income 2 1 — Shinhan capital-Cape FN Fund No.1 (*1) Fees and commission income — 82 101 SHC-K2 Fees and commission income — 20 19 Synergy-Shinhan Mezzanine New Technology Investment Fund Fees and commission income — 127 94 Shinhan-Midas Dong-A Fees and commission income W — 71 187 GX Shinhan interest 1st Private Equity Fund Fees and commission income — 412 545 Shinhan-Nvestor Liquidity Solution Fund Fees and commission income — 214 361 SHC ULMUS Fund No.1 Fees and commission income — 51 76 Shinhan-PS Fees and commission income — 12 20 Nomura investment property trust No.19 Interest income — 312 519 ” Other operating income — — 7 ” Provision for credit loss — (34 ) — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 Fees and commission income — 236 2,694 Shinhan-Stonebridge Petro Private Equity Fund Fees and commission income — 1,920 1,762 Korea Finance Security Fees and commission income — — 10 ShinHan – Soo Young Entrepreneur Investment Fund No.1 Fees and commission income — — 275 Shinhan-Rhinos 1 Fund Fees and commission income — — 64 SHINHAN-CORE TREND GLOBAL FUND 1 Fees and commission income — — 45 Kiwoom-Shinhan Innovation Fund I Fees and commission income — — 67 One Shinhan Global Fund 1 Fees and commission income — — 151 Yeollim-Shinhan Portfolio Fund I Fees and commission income — — 59 FuturePlay-Shinhan TechInnovation Fund 1 Fees and commission income — — 7 WON JIN HOME PLAN CO.,LTD Interest income — — 186 Korea Credit Bureau Fees and commission income — — 13 ” Interest expense — — (5 ) Goduck Gangil1 PFV Co., Ltd Interest income — — 328 ” Fees and commission income — — 1,120 ” Provision for credit loss — — (78 ) SBC PFV Co., Ltd Interest expense — — (3 ) IMM Global Private Equity Fund Interest income — — 28 ” Interest expense — — (25 ) ” Provision for credit loss — — (3 ) Key management personnel and their immediate relatives Interest income 101 101 161 W 7,639 11,015 15,425 (*1) Excluded from the associates due to disposal and liquidation for the year ended December 31, 2019. (*2) Excluded from the associates due to disposal and liquidation for the year ended December 31, 2018 (*3) Included in the related party due to the additional acquisition for the year ended December 31, 2019. (*4) As the Group does not have significant influence to this entity, this has been removed from the related parties for the year ended December 31, 2019. (c) Key management personnel compensation Key management personnel compensation for the years ended December 31, 2017, 2018 and 2019 were as follows: 2017 2018 2019 Short-term employee benefits W 17,112 22,502 21,237 Severance benefits 979 419 731 Share-based payment transactions (*) 6,787 4,944 12,343 W 24,878 27,865 34,311 (*) The expenses of share-based payment transactions are the remuneration expenses during the vesting period. (d) The guarantees provided between the related parties as of December 31, 2018 and 2019 are as follows: Amount of guarantees Guarantor Guaranteed Parties 2018 2019 Account Shinhan Bank BNP Paribas Cardif Life Insurance W 10,000 10,000 Unused credit line (e) Details of collaterals provided by the related parties as of December 31, 2018 and December 31, 2019 are as follows: Provided to Provided by Pledged assets 2018 2019 Shinhan Bank BNP Paribas Cardif Life Insurance Government bonds W 12,000 12,000 ” Hyungje art printing Properties — 120 ” Goduck Gangil1 PFV Co., Ltd Guarantee insurance policy — 28,800 W 12,000 40,920 (f) Details of significant loan transactions with related parties as of December 31, 2018 and 2019 are as follows: 2018 Classification Company Beginning Loan Recover Other (*) Ending Investments in associates Nomura investment property trust No.19 W — 12,000 — (34 ) 11,966 (*) The effect on changes in allowance for credit loss is included. 2019 Classification Company Beginning Loan Recover Other (*) Ending Investments in associates Nomura investment property trust No.19 W 11,966 — — 7 11,973 ” Goduck Gangil1 PFV Co., Ltd — 24,000 — — 24,000 ” IMM Global Private Equity Fund — 800 — — 800 Total W 11,966 24,800 — 7 36,773 (*) The effect on changes in allowance for credit loss is included. |
Interests in unconsolidated str
Interests in unconsolidated structured entities | 12 Months Ended |
Dec. 31, 2019 | |
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Abstract] | |
Interests in unconsolidated structured entities | 49. Interests in unconsolidated structured entities (a) The nature and extent of interests in unconsolidated structured entities The Group involved in assets-backed securitization, structured financing, beneficiary certificates (primarily investment funds) and other structured entities and characteristics of these structured entities are as follows: Description Assets-backed securitization Securitization vehicles are established to buy assets from originators and issue asset-backed securities in order to facilitate the originators’ funding activities and enhance their financial soundness. The Group is involved in the securitization vehicles by purchasing (or committing to purchase) the asset-backed securities issued and/or providing other forms of credit enhancement. The Group does not consolidate a securitization vehicle if (i) the Group is unable to make or approve decisions as to the modification of the terms and conditions of the securities issued by such vehicle or disposal of such vehicles’ assets, (ii) (even if the Group is so able) if the Group does not have the exclusive or primary power to do so, or (iii) if the Group does not have exposure, or right, to a significant amount of variable returns from such entity due to the purchase (or commitment to purchase) of asset-backed securities so issued or subordinated obligations or by providing other forms of credit support. Structured financing Structured entities for project financing are established to raise funds and invest in a specific project such as M&A (mergers and acquisitions), BTL (build-transfer-lease), shipping finance, etc. The Group is involved in the structured entities by originating loans, investing in equity, or providing credit enhancement. Investment fund Investment fund means an investment trust, a PEF (private equity fund) or a partnership which invests in a group of assets such as stocks or bonds by issuing a type of beneficiary certificates to raise funds from the general public, and distributes its income and capital gains to their investors. The Group manages assets by investing in shares of investment fund or playing a role of an operator or a GP (general partner) of investment fund, on behalf of other investors. The size of unconsolidated structured entities as of December 31, 2018 and 2019 are as follows: 2018 2019 Total assets: Asset-backed securitization W 196,108,655 208,441,947 Structured financing 132,050,391 195,374,046 Investment fund 71,487,406 215,371,530 W 399,646,452 619,187,523 (b) Nature of risks i) The carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities as of December 31, 2018 and 2019 are as follows: 2018 Assets-backed securitization Structured financing Investment fund Total Assets: Loans measured at fair value through profit or loss W 292 504,571 802,825 1,307,688 Loan at amortized cost 478,998 6,925,438 33,500 7,437,936 Securities at fair value through profit or loss 4,263,817 288,757 5,293,807 9,846,381 Derivate assets 16,390 578 — 16,968 Securities at fair value through other comprehensive income 2,244,364 91,316 32,279 2,367,959 Securities at amortized cost 4,277,675 — — 4,277,675 Other assets 5,453 48,457 34,333 88,243 W 11,286,989 7,859,117 6,196,744 25,342,850 Liabilities: Derivative liabilities W 111 — — 111 Other 5,368 4,128 — 9,496 W 5,479 4,128 — 9,607 2019 Assets-backed securitization Structured financing Investment fund Total Assets: Loans measured at fair value through profit or loss W 10,646 69,727 — 80,373 Loan at amortized cost 785,134 10,207,866 664,024 11,657,024 Securities at fair value through profit or loss 3,705,565 70,407 9,378,374 13,154,346 Derivate assets 21,494 1,027 — 22,521 Securities at fair value through other comprehensive income 2,144,846 188,429 — 2,333,275 Securities at amortized cost 4,894,942 — — 4,894,942 Other assets 3,244 14,776 58,948 76,968 W 11,565,871 10,552,232 10,101,346 32,219,449 Liabilities: Other liabilities W 682 10,457 — 11,139 ii) Exposure to risk relating to its interests in unconsolidated structured entities as of December 31, 2018 and 2019 are as follows: 2018 Assets-backed securitization Structured financing Investment fund Total Assets held W 11,286,989 7,859,117 6,196,744 25,342,850 ABS and ABCP commitments 1,395,417 2,300 602,594 2,000,311 Loan commitments 1,791,650 815,910 26,100 2,633,660 Guarantees 88,810 142,032 — 230,842 Others — 49,464 — 49,464 W 14,562,866 8,868,823 6,825,438 30,257,127 2019 Assets-backed securitization Structured financing Investment fund Total Assets held W 11,565,871 10,552,232 10,101,346 32,219,449 ABS and ABCP commitments 1,208,707 2,300 868,498 2,079,505 Loan commitments 845,904 855,520 — 1,701,424 Guarantees 139,522 4,000 — 143,522 Others — 118,969 — 118,969 W 13,760,004 11,533,021 10,969,844 36,262,869 |
Business combination
Business combination | 12 Months Ended |
Dec. 31, 2019 | |
Business combination [Abstract] | |
Business combination | 50. Business combination (a) Orange Life Insurance Co., Ltd i) General information On February 1, 2019, the Group obtained control over Orange Life Insurance Co., Ltd. by acquiring 59.15% of its shares after obtaining approval from the Financial Services Commission on January 16, 2019. The primary reason for the acquisition is to strengthen the life insurance business in response to changes in the financial market environment. ii) Identifiable net assets Fair values of assets acquired and liabilities assumed as of acquisition date are as follows: Amount (*1) Assets: Cash and due from banks at amortized cost W 739,071 Financial assets at fair value through profit or loss 1,573,453 Securities at fair value through other comprehensive income 11,111,395 Securities at amortized cost 11,273,999 Loans at amortized cost 2,588,588 Derivatives 13,934 Properties and equipment 35,489 Intangible assets (*2) 38,475 Other assets 5,847,621 33,222,025 Liabilities: Liabilities under insurance contracts (*3) 24,187,474 Derivative liabilities 3,991 Other liabilities 6,098,301 30,289,766 Fair value of the identifiable net assets W 2,932,259 (*1) The Group measured the identifiable assets and liabilities of the acquirer at fair value at the date of the business combination for the allocation of the consideration transferred. The fair value was measured at the price that would be received at the date of the business combination when the asset was sold, or when the liability was transferred in an orderly transaction between market participants, and in case the price was not directly observed, it was estimated using appropriate valuation techniques. (*2) Includes membership, software, and development costs that Orange Life Insurance Co., Ltd. holds. (*3) The Group has reflected VOBA (Value of Business Acquired), which was measured separately by applying the indirect method based on the intrinsic value, to the carrying value of the liabilities under insurance contracts that the Orange Life Insurance Co., Ltd. had. iii) Goodwill Goodwill recognized as a result of business combination is as follows: Amount Consideration paid in cash W 2,298,900 Fair value of identifiable net assets (2,932,259 ) Non-controlling 1,197,935 Goodwill W 564,576 (*) The non-controlling non-controlling iv) Cost related to business combination In connection with the business combination, the Group incurred expenses of W v) Net cash outflows due to business combination Net cash outflows due to business combination for the year ended December 31, 2019 are as follows: Amount Consideration transferred in cash W 2,298,900 Acquired cash and cash equivalents (154,754 ) W 2,144,146 Operating income and net profit for the year ended December 31, 2019 from Orange Life Insurance Co., Ltd, are W W (b) Asia Trust Co., Ltd i) General information On May 2, 2019, the Group obtained control over Asia Trust Co., Ltd. by acquiring 60% of its shares after obtaining approval from the Financial Services Commission on April 17, 2019. The primary reason for the acquisition is to strengthen the non-banking ii) Identifiable net assets Fair values of assets acquired and liabilities assumed as of acquisition date are as follows: Amount Assets: Cash and due from banks at amortized cost W 27,647 Financial assets at fair value through profit or loss 53,477 Loans at amortized cost (*1)(*3) 26,197 Properties and equipment 662 Intangible assets (*2) 40,649 Investment property 13,567 Other assets 13,367 175,566 Liabilities: Other liabilities (*3) 44,571 Fair value of the identifiable net assets W 130,995 (*1) Acquired loans were measured at fair value. The total amount of loans under contract is W W (*2) Includes the value of contract balance of W (*3) In regard to the land trust project at Ramada Hotel in Gampo, Gyeongju, some owners of parcels filed a lawsuit to return the down payments, and the intermediate payments. The loan financial institution of the business has filed a suit against Asia Trust Co., Ltd for the balance of the loans delinquent based on the intermediate payment loan agreement and subsequent agreement with the Group. The Group recorded the expected loss as allowance and provision for the trust business loans. In addition, the creditor of the constructor filed a suit claiming the construction fee; however, the Group did not reflect the effect in the consolidated financial statements as of December 31, 2019 since the potential and extent of the losses regarding the lawsuit is not reliably estimated. iii) Goodwill Goodwill recognized as a result of the business combination is as follows: Amount Consideration paid in cash W 193,400 Fair value of identifiable net assets (130,995 ) Non-controlling 52,398 Goodwill W 114,803 (*) The non-controlling non-controlling iv) Cost related to business combination In connection with the business combination, the Group incurred expenses of W v) Net cash outflows due to business combination Net cash outflows due to business combination for the year ended December 31, 2019 are as follows: Amount Consideration transferred W 193,400 Acquired cash and cash equivalents (18,647 ) W 174,753 Operating income and profit for the year ended December 31, 2019 from Asia Trust Co., Ltd. are W W (c) Shinhan Vietnam Finance Company Limited i) General information On January 22, 2019, the Group has acquired control over Prudential Vietnam Finance Co., Ltd in Vietnam by acquiring 100% of its shares, and changed the name to Shinhan Vietnam Finance Co., Ltd. The primary reason for the acquisition is to expand its new market through credit loan business in Vietnam. ii) Identifiable net assets Fair values of assets acquired and liabilities assumed as follows: Amount Assets: Cash and due from banks at amortized cost W 12,271 Loans at amortized cost 259,082 Properties and equipment 4,163 Intangible assets 5,629 Other assets 12,258 293,403 Liabilities: Deposits 211,325 Other liabilities 19,036 230,361 Fair value of the identifiable net assets W 63,042 iii) Goodwill Goodwill recognized as a result of the business combination is as follows: Amount Consideration paid in cash W 170,194 Fair value of identifiable net assets (63,042 ) Goodwill W 107,152 The Group assessed the goodwill based on the financial information as of January 1, 2019 (“assessment date”) as reliable financial information as of the acquisition date, January 22, 2019, were not available. Between the assessment date and the acquisition date, no significant transactions that affected the fair value of the identifiable net assets were identified. iv) Cost related to business combination In connection with the business combination, the Group incurred expenses of W v) Net cash outflows due to business combination Net cash outflows due to business combination for the year ended December 31, 2019 are as follows: Amount Consideration transferred W 170,194 Acquired cash and cash equivalents (12,271 ) W 157,923 Operating income and profit for the year ended December 31, 2019 from Shinhan Vietnam Finance Company Limited are W W (d) If the business combination had been consolidated from the beginning of 2019, the operating income and net income that would have been included in the consolidated statement of comprehensive income do not differ materially from the current operating income and net income recognised from the acquisition date of the business combination. |
Transition effects arising from
Transition effects arising from changes in accounting policies | 12 Months Ended |
Dec. 31, 2019 | |
Transition effects arising from changes in accounting policies [Abstract] | |
Transition effects arising from changes in accounting policies | 51. Transition effects arising from changes in accounting policies Upon adoption of IFRS 16 ‘Leases’, the Group recognized lease liabilities in relation to leases that had previously been classified as operating leases in accordance with IAS 17. These liabilities were measured at the present value of the future lease payments at the lessee’s incremental borrowing rate on January 1, 2019. The lessee’s incremental borrowing rates applied to the lease liabilities are between 2.06% and 8.96% on January 1, 2019. The difference between the amount of operating lease agreements disclosed as of December 31, 2018 discounted at the Group’s incremental borrowing rate and the lease liabilities recognized at the date of initial application is as follows: Amount Operating lease agreement commitment disclosed as of December 31, 2018 W 610,080 Amount discounted using the Group’s incremental borrowing rate 591,725 Less: Low-value (3,454 ) Value-added Tax (51,429 ) Lease liabilities recognized at the beginning of 2019 W 536,842 Right-of-use W W W W The Group has changed its accounting policies as applying IFRS 9, Financial Instruments Revenue from Contracts with Customers IFRS 9 replaces IAS 39, Financial Instruments: Recognition and Measurement Financial Instruments: Disclosures (i) Changes in equity due to application of IFRS 9 and 15 Changes in equity as of January 1, 2018 due to the initial application date of IFRS 9 and 15 are as follows: Amounts Retained earnings at January 1, 2018 before changes W 20,791,681 Adjustments of retained earnings due to the application of IFRS 9 : Reclassification from financial assets at amortized cost to financial assets measured at fair value through profit or loss (74,061 ) Reclassification from available-for-sale 178,518 Reclassification from available-for-sale 204,457 Increase in loss allowance for financial assets measured at amortized cost (573,088 ) Increase in loss allowance for loan commitments and financial guarantee contracts (55,274 ) Increase in loss allowance for debt instruments measured at fair value through other comprehensive income (18,976 ) Effect of overlay approach application 34,102 Others (*2) (40,063 ) (344,385 ) Adjustments of retained earnings due to the application of IFRS 15 (*3) (2,896 ) Tax effects (*4) 95,426 Retained earnings at January 1, 2018 after changes W 20,539,826 (*1) With the application of IFRS 9, the effect of retained earnings of the recognized impairment from equity securities has reclassified to other comprehensive income. (*2) Include translation of foreign currencies, etc. (*3) The Group has divided the trust fees into trust sales fees and trust managing fees and recognition of trust managing fees are deferred. (*4) Tax effects due to the application of IFRS 9 are separately shown. Amounts Accumulated other comprehensive loss at January 1, 2018 before changes W (529,734 ) Adjustments of accumulated other comprehensive income due to the application of IFRS 9: Reclassification from available-for-sale (178,518 ) Reclassification from available-for-sale (204,457 ) Increase in loss allowance for debt instruments measured at fair value through other comprehensive income 18,976 Effect of overlay approach application (34,102 ) Others (*2) 11,039 (387,062 ) Tax effects (*3) 110,051 Accumulated other comprehensive loss at January 1, 2018 after changes W (806,745 ) (*1) The effect on retained earnings arising from the recognition of impairment losses related to equity securities in the prior periods was transferred to other comprehensive income upon the application of IFRS 9. (*2) Other adjustments include foreign currency translation and changes in non-controlling (*3) Tax effects due to the application of IFRS 9 are separately shown. (ii) Reclassification of financial instruments upon adoption of IFRS 9 Details of reclassification of financial instruments as of January 1, 2018, the initial application date of IFRS 9, are as follows: IAS 39 IFRS 9 (*2) Carrying value Carrying Difference Financial assets: Due from banks Loans and receivables Financial assets W 902,124 833,942 (68,182 ) Loans and receivables Amortized cost 19,988,001 19,988,001 — Loan receivables Loans and receivables Financial assets 750,342 778,985 28,643 Loans and receivables Amortized cost 277,126,029 277,126,029 — Other financial assets Loans and receivables Amortized cost 12,090,983 12,090,983 — Trading assets Financial assets Financial assets 23,640,646 23,640,646 — Trading assets Financial assets Financial assets 4,634,353 4,634,353 — Trading assets (deposit in gold and silver) Financial assets Financial assets 189,297 189,297 — Financial assets designated as at FVTPL (debt securities) Financial assets Financial assets 2,030,522 2,030,522 — Financial assets Financial assets 80,288 80,288 — Financial assets designated as at FVTPL (equity securities) Financial assets Financial assets 1,162,553 1,162,553 — Financial assets Financial assets 71,803 71,803 — Financial assets designated as at FVTPL (other securities – compound financial instruments) Financial assets Financial assets 233,892 233,892 — Derivatives Financial assets Financial assets 3,400,178 3,348,803 (51,375 ) AFS financial assets AFS financial assets Financial assets 528,745 533,452 4,707 AFS financial assets Financial assets 36,657,807 36,657,807 — AFS financial assets (equity securities) AFS financial assets Financial assets 4,339,979 4,350,969 10,990 AFS financial assets Financial assets 590,405 590,405 — HTM financial assets (debt securities) HTM financial assets Financial assets 565,813 529,906 (35,907 ) HTM financial assets Amortized cost 24,424,867 24,424,867 — W 413,408,627 413,297,503 (111,124 ) Financial Liabilities: Deposits Financial liability measured at amortized cost Financial liabilities W 249,419,224 249,419,224 — Trading liabilities Financial liabilities at FVTPL Financial liabilities 1,848,490 1,848,490 — Financial liabilities designated as at FVTPL Financial liabilities at FVTPL Financial liabilities 8,260,636 8,260,636 — Financial liabilities at FVTPL Financial liabilities 36,973 36,973 — Derivatives Financial liabilities at FVTPL Financial liabilities 3,487,661 3,483,642 (4,019 ) Borrowings Financial liabilities measured at amortized cost Financial liabilities 27,586,610 27,586,313 (297 ) Debt securities issued Financial liabilities measured at amortized cost Financial liabilities 51,340,821 51,340,821 — Others Financial liabilities measured at amortized cost Financial liabilities 20,124,451 20,124,432 (19 ) W 362,104,866 362,100,531 (4,335 ) (*1) Gross carrying amounts that are before netting allowance for loan losses or credit loss allowance. (*2) Under IFRS 9, these financial instruments were categorized as financial assets or liabilities – FVTPL, as 1) the instruments are not held within a business model whose objective is achieved by both collecting contractual cash flows and selling them, or 2) the contractual terms of them does not give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. (*3) For hybrid contracts including embedded derivatives, the host contract and the derivatives are separated in accordance with IFRS 9. (iii) Impairment of financial assets upon adoption of IFRS 9 Changes of credit loss allowance as of January 1, 2018, the initial application date of IFRS 9, are as follows: Classification Classification Loss allowance Loss allowance Loans and receivables Due from banks Financial assets at amortized cost W 14,054 15,062 Loan receivables Financial assets at amortized cost 2,307,275 2,871,986 Financial assets measured at FVTPL 3,329 — Other financial assets Financial assets at amortized cost 49,679 51,818 AFS financial assets Debt securities Financial assets measured at FVOCI — 18,976 HTM financial assets Debt securities Financial assets at amortized cost — 8,559 W 2,374,337 2,966,401 Financial guarantee Financial guarantee W 36,506 37,289 Unused credit line and other credit commitment Unused credit line and other credit commitment 168,006 222,498 W 204,512 259,787 (iv) The reclassification applying business model For the financial assets as of January 1, 2018, the date of the initial application of IFRS 9, the management of the Group has assessed business model of those, and classified those applying the IFRS. The effect of reclassification is as follows: 1) Gross carrying amounts Carrying value Amount Amount Carrying value Changes in Changes in Financial assets : Due from banks Carrying value under IAS 39 as of January 1, 2018 W 20,890,125 — — 20,890,125 — — Reclassification to financial assets measured at FVTPL — (902,124 ) — (902,124 ) — — 20,890,125 (902,124 ) — 19,988,001 — — Loans Carrying value under IAS 39 as of January 1, 2018 277,876,371 — — 277,876,371 — — Reclassification to financial assets measured at FVTPL — (750,342 ) — (750,342 ) — — 277,876,371 (750,342 ) — 277,126,029 — — Other financial assets Carrying value under IAS 39 as of January 1, 2018 12,090,983 — — 12,090,983 — — Trading assets (debt instruments) (*1) Carrying value under IAS 39 as of January 1, 2018 23,640,646 — — 23,640,646 — — Reclassification to financial assets measured at FVTPL — (23,640,646 ) — (23,640,646 ) — — 23,640,646 (23,640,646 ) — — — — Trading assets (equity instruments) Carrying value under IAS 39 as of January 1, 2018 4,634,353 — — 4,634,353 — — Reclassification to financial assets measured at FVTPL — (4,634,353 ) — (4,634,353 ) — — 4,634,353 (4,634,353 ) — — — — Trading assets (gold deposit) (*1) Carrying value under IAS 39 as of January 1, 2018 189,297 — — 189,297 — — Reclassification to financial assets measured at FVTPL — (189,297 ) — (189,297 ) — — 189,297 (189,297 ) — — — — Derivatives (*1) Carrying value under IAS 39 as of January 1, 2018 3,400,178 — — 3,400,178 — — Reclassification to financial assets measured at FVTPL — (51,375 ) — (51,375 ) — — 3,400,178 (51,375 ) — 3,348,803 — — Financial assets designated at FVTPL (*1) Carrying value under IAS 39 as of January 1, 2018 3,579,057 — — 3,579,057 — — Reclassification to financial assets measured at FVTPL — (3,426,966 ) — (3,426,966 ) — — Reclassification to financial assets designated at FVTPL — (152,091 ) — (152,091 ) — — W 3,579,057 (3,579,057 ) — — — — Carrying value Amount Amount Carrying value Changes in Changes in other AFS (debt securities) Carrying value under IAS 39 as of January 1, 2018 W 37,186,552 — — 37,186,552 — — Reclassification to financial assets measured at FVTPL — (528,745 ) — (528,745 ) — — Reclassification to financial assets measured at FVOCI — (36,657,807 ) — (36,657,807 ) — — 37,186,552 (37,186,552 ) — — — — AFS (equity securities) Carrying value under IAS 39 as of January 1, 2018 4,930,385 — — 4,930,385 — — Reclassification to financial assets measured at FVTPL — (4,339,979 ) — (4,339,979 ) — — Reclassification to financial assets measured at FVOCI — (590,405 ) — (590,405 ) — — 4,930,385 (4,930,385 ) — — — — HTM (debt securities) Carrying value under IAS 39 as of January 1, 2018 24,990,680 — — 24,990,680 — — Reclassification to financial assets measured at FVTPL — (565,813 ) — (565,813 ) — — Reclassification to financial assets measured at amortized cost — (24,424,867 ) — (24,424,867 ) — — 24,990,680 (24,990,680 ) — — — — Financial assets as measured at FVTPL Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from due from banks — 902,124 (68,182 ) 833,942 — (68,182 ) Transfer from loans and other receivables — 750,342 30,027 780,369 30,027 — Transfer from trading assets — 28,464,296 — 28,464,296 — — Transfer from financial assets designated at FVTPL — 3,426,967 — 3,426,967 — — Transfer from AFS — 4,868,724 7,708 4,876,432 108,532 (108,532 ) Transfer from HTM — 565,813 (35,907 ) 529,906 — (35,907 ) Transfer from derivative assets — 51,375 (42,195 ) 9,180 — — — — (2,575 ) (2,575 ) — — — 39,029,641 (111,124 ) 38,918,517 138,559 (212,620 ) Financial assets designated at FVTPL (IFRS 9) Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from financial assets designated at FVTPL (IAS 39) — 152,091 — 152,091 — — — 152,091 — 152,091 — — Financial assets measured at FVOCI (*2) Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from AFS — 37,248,212 — 37,248,212 204,457 (204,457 ) — 37,248,212 — 37,248,212 204,457 (204,457 ) Financial assets measured at amortized cost (*2) Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from HTM — 24,424,867 — 24,424,867 — — — 24,424,867 — 24,424,867 — — W 413,408,627 — (111,124 ) 413,297,503 343,016 (417,077 ) Financial liabilities : Carrying value Amount Amount Carrying value Changes in Changes in other Deposits Carrying value under IAS 39 as of January 1, 2018 W 249,419,224 — — 249,419,224 — — 249,419,224 — — 249,419,224 — — Trading liabilities (*1) Carrying value under IAS 39 as of January 1, 2018 1,848,490 — — 1,848,490 — — Reclassification to financial liabilities measured at FVTPL — (1,848,490 ) — (1,848,490 ) — — 1,848,490 (1,848,490 ) — — — — Financial liabilities designated at FVTPL Carrying value under IAS 39 as of January 1, 2018 8,297,609 — — 8,297,609 — — Reclassification to financial liabilities designated at FVTPL — (8,260,636 ) — (8,260,636 ) — — Reclassification to financial liabilities measured at FVTPL — (36,973 ) — (36,973 ) — — 8,297,609 (8,297,609 ) — — — — Financial liabilities measured at FVTPL Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from trading liabilities — 1,848,490 — 1,848,490 — — Transfer from financial liabilities designated at FVTPL — 36,973 — 36,973 — — — 1,885,463 — 1,885,463 — — Financial liabilities designated at FVTPL Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from financial liabilities designated at FVTPL — 8,260,636 — 8,260,636 — — — 8,260,636 — 8,260,636 — — Derivative liabilities Carrying value under IAS 39 as of January 1, 2018 3,487,661 — — 3,487,661 — — Other — — (4,019 ) (4,019 ) — — 3,487,661 — (4,019 ) 3,483,642 — — Borrowings Carrying value under IAS 39 as of January 1, 2018 27,586,610 — — 27,586,610 — — Other — — (297 ) (297 ) — — 27,586,610 — (297 ) 27,586,313 — — Debt securities issued Carrying value under IAS 39 as of January 1, 2018 51,340,821 — — 51,340,821 — — Other financial liabilities Carrying value under IAS 39 as of January 1, 2018 20,124,451 — — 20,124,451 — — Other — — (19 ) (19 ) — — 20,124,451 — (19 ) 20,124,432 — — W 362,104,866 — (4,335 ) 362,100,531 — — (*1) With respect to financial assets and financial liabilities reclassified from the category of fair value through profit or loss, effective interest rates calculated on the initial application date of IFRS 9 and interest income or expense recognized shall be disclosed. Such reclassification has not occurred as a result of the IFRS 9 adoption. (*2) With respect to financial assets and financial liabilities reclassified to financial instruments measured at amortized cost, and financial assets measured at fair value through profit or loss reclassified to the category of fair value through other comprehensive income, the gain or loss on fair value measurement that would otherwise have been recognized in profit or loss or other comprehensive income in the reporting period, and the fair value of the financial assets or financial liabilities, shall be disclosed. Such reclassification has not occurred as a result of the IFRS 9 adoption. 2) Credit loss allowance Carrying value Amount Amount Carrying value Changes in Changes in Credit loss allowance for Due from banks W 14,054 — 1,008 15,062 (1,008 ) — Loans 2,310,604 (3,328 ) 564,710 2,871,986 (561,382 ) — Financial asset measured at FVOCI (Debt securities) — — 18,976 18,976 (18,976 ) 18,976 Financial asset measured at amortized cost (Debt securities) — — 8,559 8,559 (8,559 ) — Other assets 49,679 — 2,139 51,818 (2,139 ) — Financial guarantee 36,506 — 783 37,289 (783 ) — Unused credit line and other credit commitment 168,006 — 54,492 222,498 (54,492 ) — W 2,578,849 (3,328 ) 650,667 3,226,188 (647,339 ) 18,976 (v) Hedge accounting IFRS 9 maintains the mechanics of hedge accounting (i.e. fair value hedge, cash flow hedge, hedge of a net investment in a foreign operation) as defined in IAS 39, whereas a principle-based hedge accounting requirements that focuses on an entity’s risk replaced complex and rule-based hedge accounting requirements in IAS 39. Additionally, qualifying hedged items and qualifying hedging instruments have been expanded and hedge accounting requirements have been eased by eliminating a subsequent hedge effectiveness assessment and a quantitative test (80~125%). Hedge accounting can be applied to certain transactions that fail to qualify for hedge accounting requirements under IAS 39 when applying IFRS 9, and thus alleviates profit or loss volatility. (vi) Financial impact with IFRS 15 As of December 31, 2018, the effect of applying IFRS 15 is as follows in the statement of comprehensive income of the Group as of December 31, 2018 (excluding trust fees reflected by the conversion effect). The effect on the terminated cash flow statement is not significant. The effect on the consolidated statement of financial position as of December 31, 2018 is as follows. Disclosed Adjustments Amount before Liabilities: Provisions: Credit card W — (24,700 ) 24,700 Other liabilities: Accounts payable 9,748,168 (41,758 ) 9,789,926 Unearned revenues 236,827 (209,241 ) 446,068 Others 2,496,169 275,698 2,220,471 The effect on the consolidated statement of comprehensive income is as follows. Disclosed Adjustments Amount before Net fee and commission income (*1)(*2): Fee and commission income: Credit card W 1,360,322 (1,135,515 ) 2,495,837 Fee and commission incomes Credit card payment (944,533 ) 1,135,515 (2,080,048 ) (*1) Before adopting IFRS 15, the Group defers and recognizes the amount allocated to the credit card points as unearned revenue and revenue is recognized only when the points are redeemed and the Group has fulfilled its obligation to provide the benefits. In addition, a provision for onerous contracts is recognized when the expected benefits to be derived by the Group from customer loyalty program are lower than the unavoidable cost of meeting its obligations under the programmes. However under IFRS 15, the amount allocated to the credit card points is regarded as consideration payable to the customers and recognized as a reduction of fee and commission income, estimated as fair value of the monetary benefits taking into account the expected redemption rate. (*2) The Group has changed the recognition of card holder service fee paid to a customer recognized as fee and commission expense before adopting IFRS 15, to reduction of fee and commission income under IFRS 15. |
Subsequent events occurred afte
Subsequent events occurred after reporting period | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent events occurred after reporting period [Abstract] | |
Subsequent events occurred after reporting period | 52. Subsequent events occurred after reporting period (a) Acquisition of residual interest in Orange Life Insurance Co. Ltd. The Group, pursuant to its Board of Directors’ resolution on November 14, 2019, reached a decision on exchanging of the common shares of Shinhan Financial Group Co., Ltd. (the “Company”) and Orange Life Insurance Co. Ltd. (“Orange Life”) by means of a small-scale stock exchange, with the purpose to enable the Group to hold 100% of the stock of Orange Life. The stock exchange was consummated on January 28, 2020, at an exchange ratio of 0.6601483 shares of the Company for each share of Orange Life. As a result, the shares issued by Orange Life and owned by shareholders of Orange Life other than the Company were transferred to the Company on January 28, 2020 and such shareholders became shareholders of the Group by acquiring 8,232,906 newly issued shares in exchange for 13,882,062 treasury shares of the Group. Upon the share exchange, Orange Life became a wholly owned subsidiary of the Group. (b) Coronavirus disease (COVID-19) The rapid spread of the recent coronavirus (COVID-19) pandemic has had far-reaching negative consequences on global economy, which could impact our ability to generate revenues and negatively impact specific portfolios through negative rating migrations, higher than expected credit losses and potential impairments of assets. The ECL at December 31, 2019 was estimated based on a range of forecast economic conditions as at that date. The impact on GDP and other key indicators will be considered when determining the severity and likelihood of downside economic scenarios that will be used to estimate ECL under IFRS 9 in 2020. Even though the Group is closely monitoring the situation, the impact on the Group resulting from the virus cannot be estimated as of the issuance date. |
Condensed Shinhan Financial Gro
Condensed Shinhan Financial Group (Parent Company only) Financial Statements | 12 Months Ended |
Dec. 31, 2019 | |
Condensed financial information of parent company only disclosure [Abstract] | |
Condensed Shinhan Financial Group (Parent Company only) Financial Statements | 53. Condensed Shinhan Financial Group (Parent Company only) Financial Statements STATEMENTS OF FINANCIAL POSITION 2018 2019 Assets Deposits Banking subsidiaries W 24 167 Other 48,572 — Receivables from subsidiaries: Non-banking 1,644,666 2,219,698 Investment (at equity) in subsidiaries: Banking subsidiaries 13,792,072 13,797,222 Non-banking 11,983,360 15,183,053 Financial assets at FVTPL 1,927,150 443,377 Derivative assets — 24,352 Property, equipment and intangible assets, net 7,983 11,106 Other assets Banking subsidiaries 311,052 408,436 Non-banking 162,695 171,321 Other 236,658 2,590 Total assets W 30,114,232 32,261,322 Liabilities and equity Borrowings W 125,000 — Debt securities issued 7,812,358 9,147,640 Derivative liabilities — 17,687 Accrued expenses & other liabilities 526,806 630,569 Total liabilities 8,464,164 9,795,896 Equity 21,650,068 22,465,426 Total liabilities and equity W 30,114,232 32,261,322 CONDENSED STATEMENTS OF INCOME 2017 2018 2019 Income Dividends from banking subsidiaries W 481,524 541,524 892,310 Dividends from non-banking 448,588 866,150 428,634 Interest income from banking subsidiaries 228 268 263 Interest income from non-banking 27,111 31,224 38,968 Other income 51,953 74,215 125,324 Total income 1,009,404 1,513,381 1,485,499 Expenses Interest expense (179,330 ) (187,882 ) (206,815 ) Other expense (74,733 ) (89,145 ) (147,589 ) Total expenses (254,063 ) (277,027 ) (354,404 ) Profit before income tax expense 755,341 1,236,354 1,131,095 Income tax expense 614 1,471 1,922 Profit for the year W 754,727 1,234,883 1,129,173 CONDENSED STATEMENTS OF CASH FLOWS 2017 2018 2019 Cash flows from operating activities Profit before income taxes W 755,341 1,236,354 1,131,095 Non-cash (774,385 ) (1,251,379 ) (1,164,022 ) Changes in operating assets and liabilities (66,339 ) (1,671,189 ) 1,475,702 Net interest paid (149,642 ) (153,926 ) (154,765 ) Dividend received from subsidiaries 930,112 1,407,674 1,320,944 Income tax refunds (paid) 100 — (194 ) Net cash provided by (used in) operating activities 695,187 (432,466 ) 2,608,760 Cash flows from investing activities Net loan origination to non-banking (300,000 ) (412,630 ) (575,936 ) Acquisition of subsidiary (30,000 ) (42,273 ) (2,977,196 ) Other, net (715 ) (231,281 ) (660 ) Net cash used in investing activities (330,715 ) (686,184 ) (3,553,792 ) Cash flows from financing activities Issuance of convertible preferred shares — — 747,791 Issuance of hybrid bonds 224,466 1,107,838 199,476 Redemption of hybrid bonds (300,000 ) — — Net changes in borrowings — 120,000 (125,000 ) Issuance of debt securities issued 1,497,588 2,396,138 3,194,764 Repayments of debt securities issued (1,080,000 ) (1,590,000 ) (1,844,000 ) Dividend paid (706,565 ) (714,705 ) (830,772 ) Acquisition of treasury stock — (151,993 ) (444,077 ) Redemption of lease liabilities — — (1,614 ) Net cash provided by (used in) financing activities (364,511 ) 1,167,278 896,568 Net increase (decrease) in cash and cash equivalents (39 ) 48,628 (48,464 ) Cash and cash equivalents at beginning of year 39 — 48,628 Cash and cash equivalents at end of year W — 48,628 164 |
Basis of preparation (Policies)
Basis of preparation (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of basis of preparation [Abstract] | |
Statement of compliance | (a) Statement of compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”). IFRS are the standards and related interpretations issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements were authorized for issue by the Board of Directors on February 5, 2020, which were submitted for approval to the stockholder’s meeting to be held on March 26, 2020. |
Basis of measurement | (b) Basis of measurement The consolidated financial statements have been prepared on the historical cost basis, except for the following material items in the statement of financial position: • derivative financial instruments measured at fair value • financial instruments at fair value through profit or loss measured at fair value • other comprehensive income at fair values measured at fair value • liabilities for cash-settled share-based payment arrangements measured at fair value • financial liabilities designated as hedged items in a fair value hedge accounting of which changes in fair value attributable to the hedged risk recognized in profit or loss • liabilities for defined benefit plans recognized at the net of the total present value of defined benefit obligations less the fair value of plan assets |
Functional and presentation currency | (c) Functional and presentation currency These consolidated financial statements are presented in Korean won, which is the Controlling Company’s functional currency and the currency of the primary economic environment in which the Group operates. |
Use of estimates and judgements | (d) Use of estimates and judgements The preparation of the consolidated financial statements in conformity with IFRS requires management to Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about critical judgements in applying accounting policies that have a significant effect on the amounts recognized in the consolidated financial statements and information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment within the next financial year are described in Note 5. In preparing these consolidated financial statements, the significant judgments made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty are the same as those that applied to the consolidated financial statements as of and for the year ended December 31, 2018 except for the main sources of critical judgments and estimated uncertainties related to the adoption of IFRS 16 ‘ Leases |
Change in accounting policy | (e) Change in accounting policy Except for the following new standard, which has been applied from January 1, 2019, the accounting policies applied by the Group in these consolidated financial statements are the same as those applied by the Group in its consolidated financial statements as of and for the year ended December 31, 2018. There are other new standards applied from January 1, 2019, which does not have a significant impact to the Group’s financial statements. i) IFRS 16, ‘Leases’ IFRS 16, published on May 22, 2017, replaces existing standards including IAS 17, ‘Leases’ ‘Determining whether an Arrangement contains a Lease’ ‘Operating Leases – Incentives’ ’Evaluating the Substance of Transactions Involving the Legal Form of a Lease’ The Group has applied IFRS 16 from the year beginning on January 1, 2019, the date of initial application. At the commencement date of the lease, the Group assesses whether the contract is, or contains, a lease, and assessed whether the contract was, or contained, a lease in accordance with IFRS 16 at the date of initial application. For a contract that is, or contains, a lease, a lessee or a lessor shall account for each lease component within the contract as a lease separately from non-lease ‘non-lease A lessee shall recognize a lease right-of-use • Elects not to apply the requirements to recognize lease right-of-use • Excludes initial direct costs from the measurements of the lease right-of-use • If the contract contains an option to extend or terminate the lease, hindsight is used to determine the lease term As a practical expedient, a lessee may elect, by class of underlying asset, not to separate non-lease non-lease The accounting treatment as a lessor did not change significantly from the one under IAS 17. The accumulated effect on retained earnings from initial application of IFRS 16 was zero, and the comparative financial information presented has applied IAS 17 and the related Interpretations as previously reported and has not been retrospectively restated. The transition effects arising from changes in accounting policies are explained in Note 51. On December 16, 2019, the IFRS Interpretations Committee published the agenda decision on ‘Lease term and useful life of leasehold improvements’ that the entity should consider all economic penalties for the termination of the lease in the determination of the enforceable period. The Group is analyzing the impact of changes in accounting policies of determination of the enforceable period on the consolidated financial statements, and plans to reflect the impact on the consolidated financial statements when the analysis is completed. ii) IFRS 9, ‘Financial Instruments’, IFRS 7, ‘Financial Instruments: Disclosures’ Revision The interest rate index reform has added an exception that allows hedge accounting to be applied while uncertainty exists. In a hedging relationship, the assume that the interest rate index that is the underlying variable of cash flows does not change to the interest rate index reform when reviewing the probability of occurrence and the prospective assessment of the effectiveness of the hedge. For hedges of non-contractually |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of significant accounting policies [Abstract] | |
Operating segments | (a) Operating segments An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the Group’s other components, whose operating results are reviewed regularly by the chief operating decision maker to make decisions about resources allocated to each segment and assess its performance, and for which discrete financial information is available. The segment reporting to a chief executive officer includes items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items comprise mainly general expenses and income tax assets and liabilities. The Group considers the Chief Executive Officer (“CEO”) of the Bank as the chief operating decision maker. It is CEO’s responsible for evaluating the resources to be distributed to the business and the performance of the business, and makes strategic decisions. |
Basis of consolidation | (b) Basis of consolidation i) Subsidiaries Subsidiaries are investees controlled by the Group. The Group controls an investee when it is exposed to, or has rights to, variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. If a member of the Group uses accounting policies other than those adopted in the consolidated financial statements for the same transactions and events in similar circumstances, appropriate adjustments are made to its financial statements in preparing the consolidated financial statements. ii) Structured entity The Group establishes or invests in various structured entities. A structured entity is an entity designed so that its activities are not governed by way of voting rights. When assessing control of a structured entity, the Group considers factors such as the purpose and the design of the investee; its practical ability to direct the relevant activities of the investee; the nature of its relationship with the investee; and the size of its exposure to the variability of returns of the investee. The Group does not recognize any non-controlling non-controlling iii) Intra-group transactions eliminated on consolidation Intra-group balances, transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Intra-group losses are recognized as expense if intra-group losses indicate an impairment that requires recognition in the consolidated financial statements. iv) Non-controlling Non-controlling non-controlling non-controlling |
Business combinations | (c) Business combinations i) Business combinations A business combination is accounted for by applying the acquisition method, unless it is a combination involving entities or businesses under common control. Each identifiable asset and liability is measured at its acquisition-date fair value except for below: • Leases and insurance contracts are required to be classified on the basis of the contractual terms and other factors • Only those contingent liabilities assumed in a business combination that are a present obligation and can be measured reliably are recognized • Deferred tax assets or liabilities are recognized and measured in accordance with IAS 12, ‘Income Taxes’ • Employee benefit arrangements are recognized and measured in accordance with IAS 19, ‘Employee Benefits’ • Indemnification assets are recognized and measured on the same basis as the indemnified liability or asset • Reacquired rights are measured in accordance with special provisions • Liabilities or equity instruments related to share-based payment transactions are measured in accordance with the method in IFRS 2, ‘Share-based Payment’ • Non-current ‘Non-current As of the acquisition date, non-controlling non-controlling The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the acquirer, the liabilities incurred by the acquirer to former owners of the acquirer and the equity interests issued by the acquirer. However, any portion of the acquirer’s share-based payment awards exchanged for awards held by the acquirer’s employee that is included in consideration transferred in the business combination shall be measured in accordance with the method described above rather than at fair value. Acquisition-related costs are costs the acquirer incurs to effect a business combination. Those costs include finder’s fees; advisory, legal, accounting, valuation and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and costs of registering and issuing debt and equity securities. Acquisition-related costs, other than those associated with the issue of debt or equity securities, which are recognized in accordance with IAS 32 and IFRS 9, are expensed in the periods in which the costs are incurred and the services are received. ii) Goodwill The Group measures goodwill at the acquisition date as: • the fair value of the consideration transferred; plus • the recognized amount of any non-controlling • if the business combination is achieved in stages, the fair value of the pre-existing • the net recognized amount (generally fair value) of the identifiable assets acquired and liabilities assumed. When the excess is negative, a bargain purchase gain is recognized immediately in profit or loss. When the Group additionally acquires non-controlling |
Investments in associates and joint ventures | (d) Investments in associates and joint ventures An associate is an entity in which the Group has significant influence, but not control, over the entity’s financial and operating policies. Significant influence is presumed to exist when the Group holds between 20 and 50 percent of the voting power of another entity. A joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The investment in an associate and a joint venture is initially recognized at cost, and the carrying amount is increased or decreased to recognize the Group’s share of the profit or loss and changes in equity of the associate and the joint venture after the date of acquisition. Intra-group balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Intra-group losses are recognized as expense if intra-group losses indicate an impairment that requires recognition in the consolidated financial statements. If an associate or a joint venture uses accounting policies different from those of the Group for like transactions and events in similar circumstances, appropriate adjustments are made to its financial statements in applying the equity method. When the Group’s share of losses exceeds its interest in an equity accounted investee, the carrying amount of that interest, including any long-term investments, is reduced to nil and the recognition of further losses is discontinued except to the extent that the Group has an obligation or has to make payments on behalf of the investee for further losses. |
Cash and cash equivalents | (e) Cash and cash equivalents Cash and cash equivalents comprise cash balances and call deposits with original maturities of three months or less from the acquisition date that are subject to an insignificant risk of changes in their fair value, and are used by the Group in the management of its short-term commitments. Equity instruments are excluded from cash equivalents unless they are, in substance, cash equivalents, for example in the case of preferred shares acquired within a short period of their maturity and with a specified redemption date. However, the Group’s account overdraft is included in borrowings. |
Non-derivative financial assets - policy applicable from January 1, 2018 | (f) Non-derivative Financial assets are recognized when the Group becomes a party to the contractual provisions of the instrument. In addition, a regular way purchase or sale (a purchase or sale of a financial asset under a contract whose terms require delivery of the asset within the time frame established generally by regulation or convention in the market concerned) is recognized on the trade date. A financial asset is measured initially at its fair value plus, for an item not at Fair Value Through Profit or Loss (“FVTPL”), transaction costs that are directly attributable to its acquisition of the financial asset. Transaction costs on the financial assets at FVTPL that are directly attributable to the acquisition are recognized in profit or loss as incurred. i) Financial assets designated at FVTPL Financial assets can be irrevocably designated as measured at FVTPL despite of classification standards stated below, if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise from measuring assets or liabilities or recognizing the gains or losses on them on different bases. ii) Equity instruments For the equity instruments that are not held for trading, at initial recognition, the Group may make an irrevocable election to present subsequent changes in fair value in other comprehensive income. Equity instruments that are not classified as financial assets at Fair Value through Other Comprehensive Income (“FVOCI”) are classified as financial assets at FVTPL. The Group subsequently measures all equity investments at fair value. Valuation gains or losses of the equity instruments that are classified as financial assets at FVOCI previously recognized as other comprehensive income is not reclassified as profit or loss on derecognition. The Group recognizes dividends in profit or loss when the Group’s right to receive payments of the dividend is established. Valuation gains or losses due to changes in fair value of the financial assets at FVTPL are recognized as gains or losses on financial assets at FVTPL. Impairment loss (reversal) on equity instruments at FVOCI is not recognized separately. iii) Debt instruments Subsequent measurement of debt instruments depends on the Group’s business model in which the asset is managed and the contractual cash flow characteristics of the asset. Debt instruments are classified as financial assets at amortized cost, at FVOCI, or at FVTPL. Debt instruments are reclassified only when the Group’s business model changes. ① Financial assets at amortized cost Assets that are held within a business model whose objective is to hold assets to collect contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. Impairment losses, and gains or losses on derecognition of the financial assets at amortized cost are recognized in profit or loss. Interest income on the effective interest method is included in the ‘Interest income’ in the consolidated statement of comprehensive income. ② Financial assets at FVOCI Assets that are held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Other than impairment losses, interest income amortized using effective interest method and foreign exchange differences, gains or losses of the financial assets at FVOCI are recognized as other comprehensive income in equity. On derecognition, gains or losses accumulated in other comprehensive income are reclassified to profit or loss. The interest income on the effective interest method is included in the ‘Interest income’ in the consolidated statement of comprehensive income. Foreign exchange differences and impairment losses are included in the ‘Net foreign currency transaction gain’ and ‘Provision for allowance for credit loss’ in the consolidated statement of comprehensive income, respectively. ③ Financial assets at FVTPL Debt securities other than financial assets at amortized costs or FVOCI are classified at FVTPL. Unless hedge accounting is applied, gains or losses from financial assets at FVTPL are recognized as profit or loss and are included in ‘Net gain on financial assets at fair value through profit or loss’ in the consolidated statement of comprehensive income. iv) Embedded derivatives Financial assets with embedded derivatives are classified regarding the entire hybrid contract, and the embedded derivatives are not separately recognized. The entire hybrid contract is considered when it is determined whether the contractual cash flows represent solely payments of principal and interest. v) Derecognition of financial assets The Group derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Any interest in transferred financial assets that is created or retained by the Group is recognized as a separate asset or liability. If the Group retains substantially all the risks and rewards of ownership of the transferred financial assets, the Group continues to recognize the transferred financial assets and recognizes financial liabilities for the consideration received. vi) Offsetting Financial assets and financial liabilities are offset and the net amount is presented in the consolidated statement of financial position only when the Group currently has a legally enforceable right to set off the recognized amounts, and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. |
Non-derivative financial assets - policy applicable before January 1, 2018 | (g) Non-derivative The Group recognizes and measures non-derivative held-to-maturity available-for-sale Upon initial recognition, non-derivative i) Financial assets at fair value through profit or loss A financial asset is classified as at fair value through profit or loss if it is held for trading or is designated at fair value through profit or loss. Upon initial recognition, transaction costs are recognized in profit or loss when incurred. Financial assets at fair value through profit or loss are measured at fair value, and changes therein are recognized in profit or loss. A financial asset other than a financial asset held for trading may be designated as at FVTPL upon initial recognition if: • such designation eliminates or significantly reduces a recognition or measurement inconsistency that would otherwise arise; or • the financial asset forms part of a group of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Group’s documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or • it forms part of a contract containing one or more embedded derivatives that would be required to be separated from the host contract. ii) Held-to-maturity A non-derivative held-to-maturity held-to-maturity iii) Loans and receivables Loans and receivables are financial assets with fixed or determinable payments that are not quoted in an active market. Subsequent to initial recognition, loans and receivables are measured at amortized cost using the effective interest method. iv) Available-for-sale Available-for-sale non-derivative available-for-sale held-to-maturity v) De-recognition The Group derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. Any interest in transferred financial assets that is created or retained by the Group is recognized as a separate asset or liability. If the Group retains substantially all the risks and rewards of ownership of the transferred financial assets, the Group continues to recognize the transferred financial assets and recognizes financial liabilities for the consideration received. vi) Offsetting between financial assets and financial liabilities Financial assets and financial liabilities are offset and the net amount is presented in the consolidated statement of financial position only when the Group currently has a legally enforceable right to offset the recognized amounts, and there is the intention to settle on a net basis or to realize the asset and settle the liability simultaneously. |
Derivative financial instruments - policy applicable from January 1, 2018 | (h) Derivative financial instruments – policy applicable from January 1, 2018 Derivatives are initially recognized at fair value. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are accounted for as described below. i) Hedge accounting The Group holds forward exchange contracts, interest rate swaps, currency swaps and other derivative contracts to manage interest rate risk and foreign exchange risk. The Group designated derivatives as hedging instruments to hedge the risk of changes in the fair value of assets, liabilities or firm commitments (a fair value hedge) and foreign currency risk of highly probable forecasted transactions or firm commitments (a cash flow hedge). On initial designation of the hedge, the Group formally documents the relationship between the hedging instrument(s) and hedged item(s), including the risk management objectives and strategy in undertaking the hedge transaction, together with the methods that will be used to assess the effectiveness of the hedging relationship. ① Fair value hedge Changes in the fair value of a derivative hedging instrument designated as a fair value hedge are recognized in profit or loss. The gain or loss from remeasuring the hedging instrument at fair value for a derivative hedging instrument and the gain or loss on the hedged item attributable to the hedged risk are recognized in profit or loss in the same line item of the separate statement of comprehensive income. The Group discontinues fair value hedge accounting if the hedging instrument expires or is sold, terminated or exercised, or if the hedge no longer meets the criteria. Any adjustment arising from G/L on the hedged item attributable to the hedged risk is amortized to profit or loss from the date the hedge accounting is discontinued. ② Cash flow hedge When a derivative is designated to hedge the variability in cash flows attributable to a particular risk associated with a recognized asset or liability or a highly probable forecasted transaction that could affect profit or loss, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income, net of tax, and presented in the hedging reserve in equity. Any ineffective portion of changes in the fair value of the derivative is recognized immediately in profit or loss. If the hedging instrument no longer meets the criteria for hedge accounting, expires or is sold, terminated, exercised, or the designation is revoked, then hedge accounting is discontinued prospectively. The cumulative gain or loss on the hedging instrument that has been recognized in other comprehensive income is reclassified to profit or loss in the periods during which the forecasted transaction occurs. If the forecasted transaction is no longer expected to occur, then the balance in other comprehensive income is recognized immediately in profit or loss. ③ Net investment hedge The portion of the change in fair value of a financial instrument designated as a hedging instrument that meets the requirements for hedge accounting for a net investment in a foreign operation is recognized in other comprehensive income and the ineffective portion of the hedge is recognized in profit or loss Recognize. The portion recognized as other comprehensive income that is effective as a hedge is recognized in the statement of comprehensive income as a result of reclassification adjustments in accordance with IAS 21, “Effect of Changes in Foreign Exchange Rates” at the time of disposing of its overseas operations or disposing of a portion of its overseas operations To profit or loss. ii) Other derivative financial instruments Changes in the fair value of other derivative financial instrument not designated as a hedging instrument are recognized immediately in profit or loss. iii) Unobservable valuation differences at initial recognition Any difference between the fair value of over the counter derivatives at initial recognition and the amount that would be determined at that date using a valuation technique in a situation in which the valuation is dependent on unobservable parameters is not recognized in profit or loss but is recognized on a straight-line basis over the life of the instrument or immediately when the fair value becomes observable. |
Derivative financial instruments - policy applicable before January 1, 2018 | (i) Derivative financial instruments – policy applicable before January 1, 2018 Derivatives are initially recognized at fair value. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are accounted for as described below. i) Hedge accounting The Group holds forward exchange contracts, interest rate swaps, currency swaps and other derivative contracts to manage interest rate risk and foreign exchange risk. The Group designated derivatives as hedging instruments to hedge the risk of changes in the fair value of assets, liabilities or firm commitments (a fair value hedge) and foreign currency risk of highly probable forecasted transactions or firm commitments (a cash flow hedge). On initial designation of the hedge, the Group formally documents the relationship between the hedging instrument(s) and hedged item(s), including the risk management objectives and strategy in undertaking the hedge transaction, together with the methods that will be used to assess the effectiveness of the hedging relationship. • Fair value hedge • Cash flow hedge • Hedge of net investment ii) Separable embedded derivatives Embedded derivatives are separated from the host contract and accounted for separately only if the following criteria has been met: (a) the economic characteristics and risks of the embedded derivative are not closely related to those of the host contract; (b) a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and (c) the hybrid instrument is not measured at fair value with changes in fair value recognized in profit or loss. Changes in the fair value of separable embedded derivatives are recognized immediately in profit or loss. iii) Other derivative financial instruments Changes in the fair value of other derivative financial instrument not designated as a hedging instrument are recognized immediately in profit or loss. iv) Unobservable valuation differences at initial recognition Any difference between the fair value of over the counter derivatives at initial recognition and the amount that would be determined at that date using a valuation technique in a situation in which the valuation is dependent on unobservable parameters is not recognized in profit or loss but is recognized on a straight-line basis over the life of the instrument or immediately when the fair value becomes observable. |
Impairment: Financial assets and contract assets - policy applicable from January 1, 2018 | (j) Impairment: Financial assets and contract assets – policy applicable from January 1, 2018 The Group recognizes allowance for credit loss for debt instruments measured at amortized cost and fair value through other comprehensive income, and lease receivable, loan commitments and financial guarantee contracts using the expected credit loss impairment model. Financial assets migrate through the following three stages based on the change in credit risk since initial recognition and allowance for credit loss for the financial assets are measured at the 12-month Category Allowance for credit loss STAGE 1 When credit risk has not increased significantly since the initial recognition 12-months STAGE 2 When credit risk has increased significantly since the initial recognition Lifetime ECL: a lifetime ECL associated with the probability of default events occurring over the remaining lifetime STAGE 3 When assets are impaired Same as above The Group, meanwhile, only recognizes the cumulative changes in lifetime expected credit losses since the initial recognition as an allowance for credit loss for purchased or originated credit-impaired financial assets. The total period refers to the expected life span of the financial instrument up to the contract expiration date. i) Reflection of forward-looking information The Group reflects forward-looking information presented by internal experts based on a variety of information when measuring expected credit losses. For the purpose of estimating these forward-looking information, the Group utilizes the economic outlook published by domestic and overseas research institutes or government and public agencies. The Group reflects future macroeconomic conditions anticipated from a neutral standpoint that is free from bias in measuring expected credit losses. Expected credit losses in this respect reflect conditions that are most likely to occur and are based on the same assumptions that the Group used in its business plan and management strategy. ii) Measurement of amortization cost regarding the expected credit loss of financial assets The expected credit loss of an amortized financial asset is measured as the difference between the present value of the cash flows expected to be received and the cash flow expected to be received. For this purpose, we calculate expected cash flows for individually significant financial assets. For non-individual Expected credit losses are deducted using the allowance for credit loss account and are written off if the financial assets were not recoverable. The allowance for credit loss is increased when the written-off iii) Measurement of estimated credit loss of financial assets at FVOCI The calculation of expected credit losses is the same as for financial assets measured at amortized cost, but changes in allowance for credit loss are recognized in other comprehensive income. In the case of disposal and redemption of other comprehensive income – fair value, the allowance for credit loss is reclassified from other comprehensive income to profit or loss and recognized in profit or loss. |
Impairment: Financial assets and contract assets - policy applicable before January 1, 2018 | (k) Impairment: Financial assets and contract assets – policy applicable before January 1, 2018 A financial asset not carried at fair value through profit or loss is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably. However, losses expected as a result of future events, regardless of likelihood, are not recognized. In addition, for an investment in an equity security, a significant or prolonged decline in its fair value below its cost is objective evidence of impairment. If financial assets have objective evidence that they are impaired, impairment losses should be measured and recognized. Objective evidence that a financial asset or group of assets is impaired includes observable data that comes to the attention of the holder of the asset about the following loss events: • significant financial difficulty of the issuer or obligor • a breach of contract, such as a default or delinquency in interest or principal payments; • the lender, for economic or legal reasons relating to the borrower’s financial difficulty, granting to the borrower a concession that the lender would not otherwise consider • it becoming probable that the borrower will enter bankruptcy or other financial reorganization • the disappearance of an active market for that financial asset because of financial difficulties • observable data indicating that there is a measurable decrease in the estimated future cash flows from a group of financial assets since the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the group. i) Loans and receivables The Group first assesses whether objective evidence of impairment exists individually for loans and receivables that are individually significant, and individually or collectively for financial assets that are not individually significant. If the Group determines that no objective evidence of impairment exists for an individually assessed financial asset, whether significant or not, it includes the asset in a group of financial assets with similar credit risk characteristics and collectively assesses them for impairment. Assets that are individually assessed for impairment and for which an impairment loss is or continues to be recognized are not included in a collective assessment of impairment. If there is objective evidence that an impairment loss on loans and receivables has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the financial asset’s original effective interest rate (i.e., the effective interest rate computed at initial recognition). If the interest rate of a loan or receivable is a floating rate, the discount rate used to evaluate impairment loss is the current effective interest rate defined in the loan agreement. The present value of estimated future cash flows of secured financial assets is calculated by including cash flows from collateral after deducting costs to acquire and sell the collateral. In assessing collective impairment, the Group rates and classifies financial assets, based on credit risk assessment or credit rating assessment process that takes into account asset type, industry, regional location, collateral type, delinquency and other relative factors. Future cash flow of financial assets applicable to collective impairment assessment is estimated by using statistical modelling of historical trends of the probability of default, timing of recoveries and the amount of loss incurred, adjusted for management’s judgment as to whether current economic and credit conditions are such that the impairment losses are likely to be greater or less than suggested by historical modelling. In adjusting the future cash flow by historical modelling, the result has to be in line with changes and trends of observable data. Methodologies and assumptions used to estimate future cash flow are evaluated on a regular basis in order to reduce any discrepancy between impairment loss estimation and actual loss. Impairment losses are recognized in profit or loss and reflected in an allowance account against loans and receivables. When a subsequent event causes the amount of impairment loss to decrease, and the decrease can be related objectively to an event occurring after the impairment was recognized, the decrease in impairment loss is reversed through profit or loss of the year. ii) Available-for-sale When a decline in the fair value of an available-for-sale available-for-sale available-for-sale iii) Held-to-maturity An impairment loss in respect of held-to-maturity |
Property and equipment | (l) Property and equipment Property and equipment are initially measured at cost and after initial recognition. The cost of property and equipment includes expenditures arising directly from the construction or acquisition of the asset, any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management and the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. Property and equipment are carried at cost less accumulated depreciation and accumulated impairment losses. Certain land and buildings are measured at fair value at the date of transition to IFRS, which is deemed cost, in accordance with IFRS 1, ‘First-time Adoption of IFRS’. The Group recognizes in the carrying amount of an item of property and equipment the cost of replacing part of property and equipment when that cost is incurred if it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of those parts that are replaced is derecognized. The costs of the day-to-day Land is not depreciated. Other property and equipment are depreciated on a straight-line basis over the estimated useful lives, which most closely reflect the expected pattern of consumption of the future economic benefits embodied in the asset. Leased assets under finance leases are depreciated over the shorter of the lease term and their useful lives. The estimated useful lives for the current and comparative periods are as follows: Descriptions Useful lives Buildings 40 years Other properties 4~5 years The gain or loss arising from the derecognition of an item of property and equipment, which is included in profit or loss, is determined as the difference between the net disposal proceeds, if any, and the carrying amount of the item. Depreciation methods, useful lives and residual values are reassessed at each fiscal year-end |
Intangible assets | (m) Intangible assets Intangible assets are measured initially at cost and, subsequently, are carried at cost less accumulated amortization and accumulated impairment losses. Amortization of intangible assets except for goodwill is calculated on a straight-line basis over the estimated useful lives of intangible assets as below from the date that they are available for use. The residual value of intangible assets is zero. However, as there are no foreseeable limits to the periods over which club memberships are expected to be available for use, this intangible asset is determined as having indefinite useful lives and not amortized. Descriptions Useful lives Software and capitalized development cost 5 years Other intangible assets 5 years or contract periods, whichever the shorter Amortization periods and the amortization methods for intangible assets with finite useful lives are reviewed at the end of each reporting period. The useful lives of intangible assets that are not being amortized are reviewed at the end of each reporting period to determine whether events and circumstances continue to support indefinite useful life assessments for those assets. Changes are accounted for as changes in accounting estimates. Expenditures on research activities, undertaken with the prospect of gaining new technical knowledge and understanding, are recognized in profit or loss as incurred. Development expenditures are capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Group intends to and has sufficient resources to complete development and to use or sell the asset. Other development expenditures are recognized in profit or loss as incurred. |
Investment properties | (n) Investment properties Investment property is property held either to earn rental income or for capital appreciation or both. An investment property is initially recognized at cost including any directly attributable expenditure. Subsequent to initial recognition, the asset is measured at cost less accumulated depreciation and accumulated impairment losses, if any. The depreciation method and the estimated useful lives for the current and comparative periods were as follows: Descriptions Depreciation method Useful lives Buildings Straight-line 40 years Depreciation methods, useful lives and residual values are reviewed at the end of each reporting date and adjusted, if appropriate. The change is accounted for as changes in accounting estimates. |
Leased assets - policy applicable from January 1, 2019 | (o) Leased assets – policy applicable from January 1, 2019 i) Accounting treatment as the lessee The Group leases various tangible assets, such as real estate and vehicles, and the each lease contract is negotiated individually and includes a variety of terms and conditions. There are no other restrictions imposed by the lease contracts, but the lease assets cannot be provided as collaterals for borrowings. At the commencement date of the lease, the Group recognizes the right-of-use Right-of-use Lease liabilities are measured at the present value of the lease payments that are not paid at the commencement date of the lease, and the lease payments included in the measurement of the liabilities consist of the following payments: • Fixed payments (including in-substance • Variable lease payments depending on the index or rate • Amounts expected to be paid by the lessee under the residual value guarantee • The exercise price of a purchase option if the lessee is reasonably certain to exercise that option • Extended Lease payments in an optional renewal period if the lesses is reasonably certain to that they will exercise the extension option • Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease If the interest rate implicit in the lease is readily determined, the lease payments are discounted by the rate; if the rate is not readily determined, the lessee’s incremental borrowing rate is used. The cost of the right-of-use • The amount of the initial measurement of the lease liability • Any lease payments made at or before the commencement date (less any lease incentives received) • Any initial direct costs incurred by the lessee • An estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease Lease payments related to short-term leases or low-value low-value W Extension and termination options are included in a number of real estate lease contracts of the Group. In determining the lease term, management considers all relevant facts and circumstances that create an economic incentive not to exercise the options. The periods covered by, a) an option to extend the lease if the lessee is reasonably certain to exercise that option, or b) an option to terminate the lease if the lessee is reasonably certain not to exercise that option, is included when determining the lease term. The Group reassesses whether the Group is reasonably certain to exercise the extension option, or not to exercise a termination option, upon the occurrence of either a significant event or a significant change in circumstances that is within the control of the lessee, and affects whether the lessee is reasonably certain to exercise an option not previously included in its determination of the lease term, or not to exercise an option previously included in its determination of the lease term. ii) Accounting treatment as the lessor The Group leases out to lessees various tangible assets, including vehicles under operating and finance lease contracts, and the each lease contract is negotiated individually and includes a variety of terms and conditions. The risk management method for all rights held by the Group in the underlying assets includes repurchase agreements, residual value guarantees, etc. For finance leases, the Group recognizes them as a receivable at an amount equal to the net investment in the lease, and the difference from the carrying amount of the leasing asset as of the commencement date is recognized as profit or loss from disposal of the lease asset. In addition, interest income is recognized by applying the effective interest method for the amount of the Group’s net investment in finance leases. Lease-related direct costs are included in the initial recognition of financial lease receivables and are accounted for in a way that reduces the revenue for the lease term. For operating leases, the Group recognizes the lease payments as income on straight-line basis, and adds the lease initial direct costs incurred during negotiation and contract phase of the operating lease to the carrying amount of the underlying asset. In addition, the depreciation policy of operating lease assets is consistent with the Group’s depreciation policy of other similar assets. |
Leased assets - policy applicable before January 1, 2019 | (p) Leased assets – policy applicable before January 1, 2019 The Group classifies and accounts for leases as either a finance or operating lease, depending on the terms. Leases where the Group assumes substantially all of the risks and rewards of ownership are classified as finance leases. All other leases are classified as operating leases. i) Finance leases At the commencement of the lease term, the Group recognizes as finance assets and finance liabilities in its consolidated statements of financial position, the lower amount of the fair value of the leased property and the present value of the minimum lease payments, each determined at the inception of the lease. Any initial direct costs are added to the amount recognized as an asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding liability. The finance charge is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability. Contingent rents are charged as expenses in the periods in which they are incurred. The depreciable amount of a leased asset is allocated to each accounting period during the period of expected use on a systematic basis consistent with the depreciation policy the lessee adopts for depreciable assets that are owned. If there is no reasonable certainty that the lessee will obtain ownership by the end of the lease term, the asset is fully depreciated over the shorter of the lease term and its useful life. The Group reviews to determine whether the leased asset may be impaired. ii) Operating leases Payments made under operating leases are recognized in profit or loss on a straight-line basis over the period of the lease. iii) Lessor Under a finance lease, the lessor recognizes a finance lease receivable. Over the lease term the lessor accrues interest income on the net investment. The receipts under the lease are allocated between reducing the net investment and recognizing finance income, so as to produce a constant rate of return on the net investment. Under an operating lease, the lessor recognizes the lease payments as income over the lease term and the leased asset in its statement of financial position. |
Assets held for sale | (q) Assets held for sale Non-current non-current The Group recognizes an impairment loss for any initial or subsequent write-down of an asset (or disposal group) to fair value less costs to sell, and a gain for any subsequent increase in fair value less costs to sell, up to the cumulative impairment loss previously recognized in accordance with IAS 36 ‘ Impairment of Assets’ An asset that is classified as held for sale or part of a disposal group classified as held for sale is not depreciated (or amortized). |
Impairment of non-financial assets | (r) Impairment of non-financial The carrying amounts of the Group’s non-financial non-current Goodwill and intangible assets that have indefinite useful lives or that are not yet available for use, irrespective of whether there is any indication of impairment, are tested for impairment annually by comparing their recoverable amount to their carrying amount. The Group estimates the recoverable amount of an individual asset, if it is impossible to measure the individual recoverable amount of an asset, then the Group estimates the recoverable amount of cash-generating unit (“CGU”). A CGU is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or group of assets. The recoverable amount of an asset or a CGU is the greater of its value in use and its fair value less costs to sell. The value in use is estimated by applying a pre-tax An impairment loss is recognized if the carrying amount of an asset or a CGU exceeds its recoverable amount. Impairment losses are recognized in profit or loss. Goodwill acquired in a business combination is allocated to each CGU that is expected to benefit from the synergies arising from the goodwill acquired. Any impairment identified at the CGU level will first reduce the carrying value of goodwill and then be used to reduce the carrying amount of the other assets in the CGU on a pro rata basis. Except for impairment losses in respect of goodwill which are never reversed, an impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. |
Non-derivative financial liabilities - policy applicable from January 1, 2018 | (s) Non-derivative The Group recognizes financial liabilities in the consolidated statement of financial position when the Group becomes a party to the contractual provisions of the financial liability in accordance with the substance of the contractual arrangement and the definitions of financial liabilities. Transaction costs on the financial liabilities at FVTPL are recognized in profit or loss as incurred. i) Financial liabilities designated at FVTPL Financial liabilities can be irrevocably designated as measured at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases, or a group of financial instruments is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy. The amount of change in the fair value of the financial liabilities designated at FVTPL that is attributable to changes in the credit risk of that liabilities shall be presented in other comprehensive income. ii) Financial liabilities at FVTPL Since initial recognition, financial liabilities at FVTPL is measured at fair value, and changes in the fair value are recognized as profit or loss. iii) Other financial liabilities Non-derivative The Group derecognizes a financial liability from the consolidated statement of financial position when it is extinguished (i.e. when the obligation specified in the contract is discharged, cancelled or expires). |
Non-derivative financial liabilities - policy applicable before January 1, 2018 | (t) Non-derivative The Group classifies non-derivative i) Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include financial liabilities held for trading or designated as such upon initial recognition. Subsequent to initial recognition, financial liabilities at fair value through profit or loss are measured at fair value, and changes therein are recognized in profit or loss. Upon initial recognition, transaction costs that are directly attributable to the acquisition are recognized in profit or loss as incurred. The criteria for designation of financial liabilities at FVTPL upon initial recognition are the same as those of financial assets at FVTPL. ii) Other financial liabilities Non-derivative The Group derecognizes a financial liability from the consolidated statement of financial position when it is extinguished (i.e. when the obligation specified in the contract is discharged, cancelled or expires). |
Foreign currencies | (u) Foreign currencies i) Foreign currency transactions Transactions in foreign currencies are translated to the respective functional currencies of the Group at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated to the functional currency using the reporting date’s exchange rate. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency at the beginning of the period, adjusted for effective interest and payments during the period, and the amortized cost in foreign currency translated at the exchange rate at the end of the reporting period. Non-monetary ii) Foreign operations If the presentation currency of the Group is different from a foreign operation’s functional currency, the financial statements of the foreign operation are translated into the presentation currency using the following methods: The assets and liabilities of foreign operations, whose functional currency is not the currency of a hyperinflationary economy, are translated to presentation currency at exchange rates at the reporting date. The income and expenses of foreign operations are translated to functional currency at exchange rates at the dates of the transactions. Foreign currency differences are recognized in other comprehensive income. Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition of that foreign operation are treated as assets and liabilities of the foreign operation and are translated using the exchange rate at the reporting date. iii) Net investment in a foreign operation If the settlement of a monetary item receivable from or payable to a foreign operation is neither planned nor likely in the foreseeable future, then foreign currency differences arising on the item form part of the net investment in the foreign operation and are recognized in other comprehensive income and reclassified from equity to profit or loss on disposal of the net investment. |
Equity capital | (v) Equity capital i) Capital stock Capital stock is classified as equity. Incremental costs directly attributable to the transaction of stock are deducted from equity, net of any tax effects. Preferred stocks are classified as equity if they do not need to be repaid or are repaid only at the option of the Group and if payment is determined by the Group’s discretion, and dividends are recognized when the shareholders’ meeting approves the dividends. Preferred stocks that are eligible for reimbursement of a defined or determinable amount on or after a certain date are classified as liabilities. The related dividend is recognized in profit or loss at the time of occurrence as interest expense. ii) Hybrid bonds The Group classifies an issued financial instrument, or its component parts, as a financial liability or an equity instrument depending on the substance of the contractual arrangement of such financial instrument. Hybrid bonds where the Group has an unconditional right to avoid delivering cash or another financial asset to settle a contractual obligation are classified as an equity instrument and presented in equity. iii) Capital structure The effect of changes in ownership interests in subsidiaries that do not lose control over the equity attributable to owners of the parent is included in capital adjustments. |
Employee benefits | (w) Employee benefits i) Short-term employee benefits Short-term employee benefits are employee benefits that are due to be settled within 12 months after the end of the period in which the employees render the related service. When an employee has rendered service to the Group during an accounting period, the Group recognizes the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service. ii) Other long-term employee benefits The Group’s net obligation in respect of other long-term employee benefits that are not expected to be settled wholly before 12 months after the end of the annual reporting period in which the employees render the related service, is the amount of future benefit that employees have earned in return for their service in the current and prior periods. That benefit is discounted to determine its present value. Remeasurements are recognized in profit or loss in the period in which they arise. iii) Retirement benefits: defined contribution plans The Group recognizes the contribution expense as an account of severance payments in profit or loss in the period according to the defined contribution plans. iv) Retirement benefits: defined benefit plans A defined benefit plan is a post-employment benefit plan other than a defined contribution plan. The Group’s net obligation in respect of defined benefit plans is calculated by estimating the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit is discounted to determine its present value. The fair value of plan assets is deducted. The calculation is performed annually by an independent actuary using the projected unit credit method. Defined benefit liabilities are calculated annually by independent actuaries using the predicted unit credit method. If the net present value of the defined benefit obligation less the fair value of the plan assets is an asset then the present value of the economic benefits available to the entity in the form of a refund from the plan or a reduction in future contributions to the plan. The remeasurement component of net defined benefit liability is the change in the effect of the asset except for the amount included in the net interest income of plan assets and net revenues of plan assets excluding actuarial gains and losses to the net of defined benefit liabilities. It is immediately recognized in other comprehensive income. The Group determines the net interest on the net defined benefit obligation (asset) by multiplying the net defined benefit obligation (asset) by the discount rate determined at the beginning of the annual reporting period and is the net present value of the net defined benefit obligation. It is determined by taking into consideration the fluctuations. Net interest expense and other expenses related to defined benefit plans are recognized in profit or loss. When an amendment or reduction of the system occurs, the gain or loss resulting from the change or decrease in the benefits to the past service is immediately recognized in profit or loss. The Group recognizes gains or losses on settlement when the defined benefit plan is settled. v) Termination benefits Termination benefits are recognized as an expense when the Group is committed demonstrably, without realistic possibility of withdrawal, to a formal detailed plan to either terminate employment before the normal retirement date, or to provide termination benefits as a result of an offer made to encourage voluntary redundancy. Termination benefits for voluntary redundancies are recognized as an expense if the Group has made an offer of voluntary redundancy, it is probable that the offer will be accepted, and the number of acceptances can be estimated reliably. If benefits are payable more than 12 months after the reporting period, then they are discounted to their present value. |
Share-based payment transactions | (x) Share-based payment transactions The grant date fair value of share-based payment awards granted to employees is recognized as an employee expense, with a corresponding increase in equity, over the period that the employees unconditionally become entitled to the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market non-market non-vesting true-up The fair value of the amount payable to employees in respect of share appreciation rights, which are settled in cash, is recognized as an expense with a corresponding increase in liabilities, over the period that the employees unconditionally become entitled to payment. The liability is remeasured at each reporting date and at settlement date. Any changes in the fair value of the liability are recognized as personnel expense in profit or loss. |
Provisions | (y) Provisions Provisions are recognized when the Group has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The risks and uncertainties that inevitably surround many events and circumstances are taken into account in reaching the best estimate of a provision. Where the effect of the time value of money is material, provisions are determined at the present value of the expected future cash flows. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision is reversed. Provisions shall be used only for expenditures for which the provisions are originally recognized. |
Financial guarantee contract - policy applicable from January 1, 2018 | (z) Financial guarantee contract – policy applicable from January 1, 2018 A financial guarantee contract is a contract that requires the Group to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payment when due in accordance with the original or modified terms of a debt instrument. Financial guarantee contracts are recognized initially at their fair value, and the initial fair value is amortized over the life of the financial guarantee contract. The financial guarantee liability is subsequently measured at the higher of the amount of the best estimate of the expenditure required to settle the present obligation at the end of reporting period; and the amount initially recognized less, cumulative amortization recognized on a straight-line basis over the guarantee period. Financial guarantee liabilities are included within other liabilities. After initial recognition, financial guarantee contracts are measured at the higher of: • Loss allowance in accordance with IFRS 9, ‘Financial Instruments’ • The amount initially recognized less, when appropriate, the cumulative amount of income recognized in accordance with the principles of IFRS 15, ‘Revenue from Contracts with Customers’ |
Financial guarantee contract - policy applicable before January 1, 2018 | (aa) Financial guarantee contract – policy applicable before January 1, 2018 A financial guarantee contract is a contract that requires the issuer (the Group) to make specified payments to reimburse the holder for a loss it incurs because a specified debtor fails to make payments when due in accordance with the original or modified terms of a debt instrument. Financial guarantee contracts are initially measured at their fair values and, if not designated as at fair value through profit or loss, are subsequently measured at the higher of: • The amount determined in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets and • The initial amount recognized, less, when appropriate, cumulative amortization recognized in accordance with IAS 18, ‘Revenue’ |
Insurance contracts | (ab) Insurance contracts i) Investment contract liabilities, including insurance contract liabilities and discretionary dividend factors The group establishes liability reserves in accordance with the Insurance Business Law and the related regulations. The reserves are calculated according to the insurance policy, insurance premiums and liability reserve calculation method. The main contents are as follows. i-1) Premium reserves The present value of the premiums payable to the policy holders after the balance sheet date is the present value of the net premium to be paid after the end of the reporting period. The amount is deducted from the value. i-2) Unpaid premium reserves As of the end of the reporting period, premiums that have paid due are calculated based on premiums and the liability reserve calculation method. i-3) Guarantee reserves The total amount of reserve for variable minimum guarantee (①) and reserve for general account guarantee (②) is provided as guarantee reserve. ① Variable minimum guarantee reserve This reserve is the amount that must be accumulated to guarantee insurance premiums above a certain level for contracts maintained as of the end of the reporting period, and is measured at the higher of: i) the average amount of the top 30% of net loss expected in the future ii) the minimum required amount by insurance types, minimum guarantees and limits of stock investment portion ② General account guarantee reserve As of the end of the reporting period, the amount of reserve for insurance contracts that are insured under general account is required to be paid to guarantee the level of refunds, i) Average of the amount deducted from the appropriateness of the liability reserve calculated by excluding the guarantee option from the appropriateness evaluation of the liability reserve calculated by including the guarantee option for each interest rate scenario ii) The amount of compensation (including annulment contract) against the guarantee received from the policy holder by the rate applied at the premium calculation in the insurance premium and liability reserve calculation method i-4) Reserve for outstanding claims As of the end of the reporting period, the Group has accrued the amount for which the reason for the payment of insurance claims, etc. has been incurred and the amount of the claim payment has not been paid yet due to the dispute or lawsuit related to the insurance settlement. In addition, the Group recognizes unrecognized losses based on historical experience. i-5) Reserves for participating policyholders’ dividends The reserve is provided for the purpose of contributing to the policyholder dividend according to the laws and regulations and the reserve for dividend reserve for the policyholder and the dividend reserve for the subsequent business year. The policyholder dividend reserve is the amount that is not paid as of the end of the reporting period for the settlement amount and the reserve for dividend policy for the next fiscal year is based on the policyholder dividend calculated on the insurance contract effective as of the end of the reporting period. ① Excess crediting rate reserve In the case of a dividend insurance contract which has been maintained for more than one year as of the end of the reporting period among contracts signed before October 1, 1997, the difference between the planned interest rate and the one-year ② Mortality dividend reserve Dividends arising from contracts that are maintained for more than one year at the end of the reporting period are used to offset the expected mortality and actual mortality rates applied to premiums. ③ Interest dividend reserve For the contracts that have been maintained for more than one year as of the end of the reporting period, the amount calculated by applying the interest dividend reserve rate to the net written premium reserve less the unearned acquisition costs. However, the insurance sold before October 1, 1997 is applied to the amount deducted from the net premium in the event that the planned interest rate by the insurance product is less than the dividend standard. ④ Reserves for long-term special dividends For the effective dividend policy agreement that has been maintained for 6 years or more, the amount calculated by applying the long-term special dividend rate to the amount deducted from the net premiums for the end of the year. However, insurance sold before October 1, 1997 is applied to the deduction of unearned premiums at the end of the year when the expected interest rate by the insurance product is less than the dividend standard rate i-6) Reserve for interest dividends In order to cover the policyholder dividend in the future, the amount is accumulated in accordance with the laws and regulations and the insurance contracts. i-7) Reserve for dividend insurance loss reserve In accordance with the regulations set by the supervisory authority, dividend insurance profit is accumulated within 30/100 of the contractor’s stake. The reserve loss for dividend insurance shall be preserved at the end of the reporting period and shall be used as the policyholder dividend source for the individual contractor. ii) Contractor’s equity adjustment The Group classifies the gains and losses on available-for-sale non-dividend iii) Evaluation of debt appropriateness At the end of each reporting period, the group assesses whether the recognized insurance liability is appropriate using the current estimates of future cash flows of the policy, and if the carrying amount of the insurance liability is deemed to be inappropriate in terms of the estimated future cash flows. The reserve for premiums is added to the profit or loss by the amount corresponding to the deficiency. iv) Reinsurance assets The group presents the recoverable amount of reinsurance assets. The group assesses at the end of each reporting period whether there is objective evidence that a reinsurance asset is impaired. If there is objective evidence that the entity will not be able to collect all amounts under the terms of the agreement as a result of an event that occurred after the initial recognition and if the event has a reliable and measurable impact on the amount to be received. If reinsurance assets are determined to be impaired, impairment loss is recognized in the profit and loss for the current period. v) Deferred acquisition cost The group recognizes unrealized gains and losses arising from long-term insurance contracts as assets and amortizes the premiums over the life of the insurance contracts equally. If the contribution period exceeds 7 years, the amortization period is 7 years if there is an unrecognized balance at the date of the cancellation, the entire amount of the cancellation is amortized in the fiscal year to which the cancellation date belongs. But, if the ratio of additional premiums is higher at the early stage of the insurance period for the purpose of recovering the excess of the unearned premiums and the early settlement costs, the new settlement expenses are treated as the period expense. |
Recognition of revenues and expenses | (ac) Recognition of revenues and expenses Other than revenues under the scope of IAS 17, ‘Leases’ ‘Investments in Associates and Joint Ventures’ ‘Financial Instruments’ ‘Consolidated Financial Statements’ ‘Joint Arrangements’ g g g g i) Interest income and expense Interest income and expense are recognized in profit or loss using the effective interest method. The effective interest rate is the rate that exactly discounts the estimated future cash payments and receipts through the expected life of the financial asset or liability or, where appropriate, a shorter period to the net carrying amount of the financial asset or liability. When calculating the effective interest rate, the Group estimates cash flows considering all contractual terms of the financial instrument, but does not consider future credit losses. The calculation includes all fees and points paid or received between parties to the contract that are an integral part of the effective interest rate, and all other premiums or discounts. When it is not possible to estimate reliably the cash flows or the expected life of a financial instrument, the Group uses the contractual cash flows over the full contractual term of the financial instrument. Once a financial asset or a group of similar financial assets has been written down as a result of an impairment loss, interest income is thereafter recognized using the rate of interest used to discount the future cash flows for the purpose of measuring the impairment loss. ii) Fees and commission The recognition of revenue for financial service fees depends on the purposes for which the fees are assessed and the basis of accounting for any associated financial instrument. ① Fees that are an integral part of the effective interest rate of a financial instrument Such fees are generally treated as an adjustment to the effective interest rate. Such fees may include compensation for activities such as evaluating the borrower’s financial condition, evaluating and recording guarantees, collateral and other security arrangements, preparing and processing documents, closing the transaction and the origination fees received on issuing financial liabilities. However, when the financial instrument is measured at fair value with the change in fair value recognized in profit or loss, the fees are recognized as revenue when the instrument is initially recognized. ② Fees earned as services are provided Fees and commission income, including investment management fees, sales commission, and account servicing fees, are recognized as the related services are provided. ③ Fees that are earned on the execution of a significant act The fees that are earned on the execution of a significant act including commission on the allotment of shares or other securities to a client, placement fee for arranging a loan between a borrower and an investor and sales commission, are recognized as revenue when the significant act has been completed. iii) Insurance income The Group recognizes insurance income for the insurance premium paid of which the payment date arrived by the premium payment methods of the insurance contract; and recognizes advance receipts for the insurance premium paid of which the payment date has not arrived at the end of the reporting period. iv) Dividends Dividends income is recognized when the shareholder’s right to receive payment is established. Usually this is the ex-dividend |
Revenue from Contracts with Customers - policy applicable from January 1, 2018 | (ad) Revenue from Contracts with Customers – policy applicable from January 1, 2018 The fair value of the consideration received or receivable in exchange for the initial transaction is allocated to the reward points (“points”) and the remainder of the fee income. The consideration to be allocated to the points is estimated based on the fair value of the monetary benefits to be provided in consideration of the expected recovery rate of points awarded in accordance with the customer loyalty program and the expected time of recovery. Points for distribution through the cost paid by the customer is recognized by deducting from the revenue from fees. |
Customer loyalty system - policy applicable before January 1, 2018 | (ae) Customer loyalty system – policy applicable before January 1, 2018 Under the Customer Loyalty system, the fair value of the consideration received or receivable in exchange for the initial transaction is allocated to the reward points (“points”) and the remainder of the fee income. The Group provides compensation in various forms such as payment discounts and gifts. The consideration allocated to the points is based on the fair value of the monetary benefits to be provided for the points to be recovered. The fair value of the benefits provided for the points reclaimed in accordance with the customer loyalty program is estimated taking into account the expected recovery rate and the expected recovery time. The consideration to be allocated to the points is estimated based on the fair value of the monetary benefits to be provided in consideration of the expected recovery rate of points awarded in accordance with the customer loyalty program and the expected time of recovery. Revenue recognition is measured based on the relative size of the points recovered and exchanged for monetary consideration at the total points expected to be recovered. In addition, if the unavoidable costs incurred to fulfill the compensation obligation in connection with the customer loyalty system are expected to exceed the amount not recognized as revenue allocated to the compensation score at the time of initial sale, the excess amount is recognized as provision. |
Income tax | (af) Income tax Income tax expense comprises current and deferred tax. Current tax and deferred tax are recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive income. i) Current tax Current tax is the expected tax payable or receivable on the taxable profit or loss for the year, using tax rates enacted or substantively enacted at the end of the reporting period and any adjustment to tax payable in respect of previous years. The taxable profit is different from the accounting profit for the period since the taxable profit is calculated excluding the temporary differences, which will be taxable or deductible in determining taxable profit (tax loss) of future periods, and non-taxable non-deductible ii) Deferred tax Deferred tax is recognized, using the asset-liability method, in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. A deferred tax liability is recognized for all taxable temporary differences. A deferred tax asset is recognized for all deductible temporary differences to the extent that it is probable that taxable profit will be available against which they can be utilized. However, deferred tax is not recognized for the following temporary differences: taxable temporary differences arising on the initial recognition of goodwill, or the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting profit or loss nor taxable income. The Group recognizes deferred tax liabilities for all taxable temporary differences associated with investments in subsidiaries, associates, and interests in joint ventures, except to the extent that the Group is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. The Group recognizes deferred tax assets for all deductible temporary differences arising from investments in subsidiaries and associates, to the extent that it is probable that the temporary difference will reverse in the foreseeable future and taxable profit will be available against which the temporary difference can be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and deferred tax assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period to recover or settle the carrying amount of its assets and liabilities. The carrying amount of a deferred tax asset is reviewed at the end of each reporting period and reduced the carrying amount to the extent that it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of that deferred tax asset to be utilized. Deferred tax assets and liabilities are offset only if there is a legally enforceable right to offset the related current tax liabilities and assets, and they relate to income taxes levied by the same tax authority and they intend to settle current tax liabilities and assets on a net basis. If any additional income tax expense exists by payment of dividends, the Group recognizes it when the liability relating to the payment is recognized. Because of the tax polices taken by the Group, tax uncertainties arise from the complexity of transactions and differences in tax law analysis. Also, it arises from a tax refund suit, tax investigation, or a refund suit against the tax authorities’ tax amount. The Group paid the tax amount by the tax authorities in accordance with IFRIC 23. However, it will be recognized as the corporate tax assets if there is a high possibility of a refund in the future. In addition, the amount expected to be paid as a result of the tax investigation is recognized as the tax liability. |
Accounting for trust accounts | (ag) Accounting for trust accounts The Group accounts for trust accounts separately from its bank accounts under the Financial Investment Services and Capital Markets Act and thus the trust accounts are not included in the accompanying consolidated financial statements. Borrowings from trust accounts are included in other liabilities. Trust fees and commissions in relation to the service provided to trust accounts by the Group are recognized as fees and commission income. |
Earnings per share | (ah) Earnings per share The Group presents basic and diluted earnings per share (EPS) data for its ordinary shares. Basic EPS is calculated by dividing the profit or loss attributable to the ordinary shareholder of the Group by the weighted average number of common shares outstanding during the period, adjusted for own shares held. Diluted EPS is determined by adjusting the profit or loss attributable to ordinary shareholders and the weighted average number of ordinary shares outstanding, adjusted for own shares held, for the effects of all dilutive potential ordinary shares, which comprise share options granted to employees. |
Issued/Amended Accounting Standards that are not applied | (ai) Issued/Amended Accounting Standards that are not applied The following issued/amended standards have been published but have not yet been effective during the fiscal year beginning January 1, 2019. Hence, the Group did not apply the following issued/amended standards in preparing financial statements: i) IAS 1 ‘Presentation of Financial Statements’ and IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’ amended The definition of materiality has been clarified, and the feature of information users is taken into account when determining the information to be disclosed and the effects of immaterial information as well as omission or misstatement of material information when determining materiality. This amendment is effective for annual periods beginning on or after January 1, 2020. The Group expects that the amendment will not have a material impact on its financial statements. ii) IFRS 3 ‘Business Combination’ The amended definition of business requires that the inputs that have the ability to create outputs and substantial process to be included in the assessment of acquired businesses and the collection of assembled assets, excluding economic benefits from cost reduction. In addition, if the fair value of most of the total assets acquired is concentrated in a single identifiable asset or a set of assets, an optional concentration test has been added that determines that the acquired activities and sets of assets are not a business but assets or a set of assets. This amendment is effective for annual periods beginning on or after January 1, 2020. The Group expects that the amendment will not have a material impact on its financial statements. |
Significant estimate and judg_2
Significant estimate and judgment (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of significant estimate and judgment [Abstract] | |
Estimation of impairment of goodwill | (a) Estimation of impairment of goodwill The Group reviews the goodwill annually in accordance with the accounting policy in Note 3. The recoverable amount of the cash-generating unit (group) was determined based on the value-in-use |
Income taxes | (b) Income taxes The Group is subject to tax laws from various countries. In the normal course of business, there are various types of transactions and different accounting methods that may add uncertainties to the decision of the final income taxes. The Group has recognized current and deferred taxes that reflect tax consequences based on the best estimates in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. However, actual income taxes in the future may not be identical to the recognized deferred tax assets and liabilities, and this difference can affect current and deferred tax at the period when the final tax effect is determined. |
Fair value of financial instruments | (c) Fair value of financial instruments The fair values of financial instruments which are not actively traded in the market are determined by using valuation techniques. The Group determines valuation techniques and assumptions based on significant market conditions at the end of each reporting period. Diverse valuation techniques are used to determine the fair value of financial instruments, from generic valuation techniques to internally developed valuation models that incorporate various types of assumptions and variables. |
Allowance for credit loss, guarantees and unused loan commitments | (d) Allowance for credit loss, guarantees and unused loan commitments The Group determines and recognizes allowances for losses on debt securities, loans and other receivables measured at amortized cost or FVOCI, and recognizes provisions for guarantees and unused loan commitments through impairment testing. The accuracy of allowances and provisions for credit losses are determined by the estimation of expected cash flows for individually assessed allowances, and methodology and assumptions used for collectively assessed allowances and provisions for groups of loans, guarantees and unused loan commitments. |
Defined benefit obligation | (e) Defined benefit obligation The present value of a defined benefit obligation that is measured by actuarial valuation methods uses various assumptions which can change according to various elements. The rate used to discount post-employment benefit obligations is determined by reference to market yields at the end of the reporting period on high quality corporate bonds. The currency and term of the corporate bonds are consistent with the currency and estimated term of the post-employment benefit obligations. Actuarial gains and losses including experience adjustments and the effects of changes in actuarial assumptions are recognized in other comprehensive income. Other significant assumptions related to defined benefit obligations are based on current market situations. |
Hedging relationship | (f) Hedging relationship The Group expects a high risk hedging effect throughout the hedging period in designating the hedging relationship and it is probable that the hedged transaction will be highly probable in the cash flow hedge. |
Reporting entity (Tables)
Reporting entity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of reporting entity [Abstract] | |
Ownership of Shinhan Financial Group and its material consolidated subsidiaries | 1. Reporting entity Shinhan Financial Group Co., Ltd., the controlling company, and its subsidiaries included in consolidation (collectively the “Group”) are summarized as follows: (a) Controlling company Shinhan Financial Group Co., Ltd. (the “Shinhan Financial Group”), a controlling company, was incorporated on September 1, 2001 for the main purposes of Shinhan Bank, Shinhan Securities Co., Ltd., Shinhan Capital Co., Ltd., and Shinhan BNP Asset Management Co., Ltd. with a stock transfer. The total capital stock amounted to W (b) Ownership of Shinhan Financial Group and its major consolidated subsidiaries as of December 31, 2018 and 2019 are as follows: Date of financial Ownership (%) Investor Investee (*1) Location 2018 2019 Shinhan Financial Group Shinhan Bank Korea December 31 100.0 100.0 ” Shinhan Card Co., Ltd. ” ” 100.0 100.0 ” Shinhan Investment Corp. (*2) ” ” 100.0 100.0 ” Shinhan Life Insurance Co., Ltd. ” ” 100.0 100.0 ” Orange Life Insurance Co., Ltd. (*3) ” ” — 59.2 ” Shinhan Capital Co., Ltd. ” ” 100.0 100.0 ” Jeju Bank (*4) ” ” 71.9 75.3 ” Shinhan Credit Information Co., Ltd. ” ” 100.0 100.0 ” Shinhan Alternative Investment Management Inc. ” ” 100.0 100.0 ” Shinhan BNP Paribas Asset Management Co., Ltd. ” ” 65.0 65.0 ” SHC Management Co., Ltd. ” ” 100.0 100.0 ” Shinhan DS ” ” 100.0 100.0 ” Shinhan Savings Bank ” ” 100.0 100.0 ” Asia Trust Co., Ltd. (*5) ” ” — 60.0 ” Shinhan AITAS Co., Ltd. ” ” 99.8 99.8 ” Shinhan REITs Management Co., Ltd. ” ” 100.0 100.0 ” Shinhan AI Co., Ltd. (*6) ” ” — 100.0 Shinhan Bank Shinhan Asia Limited Hong Kong ” 99.9 99.9 ” Shinhan Bank America USA ” 100.0 100.0 ” Shinhan Bank Europe GmbH Germany ” 100.0 100.0 ” Shinhan Bank Cambodia Cambodia ” 97.5 97.5 ” Shinhan Bank Kazakhstan Limited Kazakhstan December 31 100.0 100.0 ” Shinhan Bank Canada Canada ” 100.0 100.0 ” Shinhan Bank (China) Limited China ” 100.0 100.0 ” Shinhan Bank Japan Japan ” 100.0 100.0 ” Shinhan Bank Vietnam Ltd. Vietnam ” 100.0 100.0 ” Banco Shinhan de Mexico Mexico ” 99.9 99.9 ” PT Bank Shinhan Indonesia Indonesia ” 99.0 99.0 Shinhan Card Co., Ltd. LLP MFO Shinhan Finance Kazakhstan ” 100.0 100.0 ” PT. Shinhan Indo Finance Indonesia ” 50.0 50.0 ” Shinhan Microfinance Co., Ltd. Myanmar ” 100.0 100.0 ” Shinhan Vietnam Finance (*7) Vietnam ” — 100.0 Shinhan Investment Corp. Shinhan Investment Corp. USA Inc. USA ” 100.0 100.0 ” Shinhan Investment Corp. Asia Ltd. Hong Kong ” 100.0 100.0 ” SHINHAN SECURITIES VIETNAM CO., LTD Vietnam ” 100.0 100.0 ” PT. Shinhan Sekuritas Indonesia Indonesia ” 99.0 99.0 PT Shinhan Sekuritas Indonesia PT. Shinhan Asset Management Indonesia ” ” 75.0 75.0 Shinhan BNP Paribas Asset Management Co., Ltd. Shinhan BNP Paribas Asset Management (Hong Kong) Limited Hong Kong ” 100.0 100.0 Shinhan DS SHINHAN DS VIETNAM CO., LTD. Vietnam ” 100.0 100.0 (*1) Trusts, beneficiary certificates, securitization special limited liability companies, associates and private equity investment specialists that are not actually operating their own business are excluded. (*2) The controlling company has participated in issuing additional shares of Shinhan Investment Corp. amounting to W (*3) The Group entered into a share purchase agreement to acquire a 59.15% stake in Orange Life Insurance Co., Ltd. for the years ended December 31, 2018, and the effective stake increased to 60.24% due to the acquisition of treasury shares by Orange Life Insurance Co. Ltd. for the years ended December 31, 2019. (*4) The Group purchased 1,100,000 shares of Jeju Bank from the Group’s largest shareholder, the National Pension Service for the year ended December 31, 2019. (*5) The Group acquired 60.00% stake in Asia Trust Co., Ltd. for the year ended December 31, 2019. (*6) Shinhan AI Co., Ltd. is a subsidiary newly invested for the year ended December 31, 2019. The controlling company has participated in issuing additional shares of Shinhan AI Co., Ltd. shares amounting to W (*7) The Group acquired 100% stake in Vietnam-based Prudential Vietnam Finance Co., Ltd. for the year ended December 31, 2019 and changed the name of corporate to Shinhan Vietnam Finance Co., Ltd. (c) Consolidated structured entities Consolidated structured entities are as follows: Category Consolidated structured entities Description Trust 18 trusts managed by Shinhan Bank including development trust A trust is consolidated when the Group as a trustee is exposed to variable returns, for example, if principle or interest amounts of the entrusted properties falls below guaranteed amount, the Group should compensate it; and the Group has the ability to affect those returns. Asset-Backed Securitization MPC Yulchon Green I and 196 others An entity for asset backed securitization is consolidated when the Group has the ability to dispose assets or change the conditions of the assets, is exposed to variable returns and has the ability to affect the variable returns providing credit enhancement and purchases of subordinated securities. Structured Financing SHPE Holdings One Co., Ltd. An entity established for structured financing relating to real estate, shipping, or mergers and acquisitions is consolidated, when the Group has granted credit to the entity, has sole decision-making authority of these entities due to the entities default, and is exposed to, or has rights to related variable returns. Investment Fund KoFC Shinhan Frontier Champ 2010-4 An investment fund is consolidated, when the Group manages or invests assets of the investment funds on behalf of other investors, or has the ability to dismiss the manager of the investment funds, and is exposed to, or has rights to, the variable returns. (*) The Group provides ABCP credit contribution (purchase agreements) of W |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of significant accounting policies [Abstract] | |
Property and equipment, estimated useful lives | Descriptions Useful lives Buildings 40 years Other properties 4~5 years |
Intangible assets, estimated useful lives | Descriptions Useful lives Software and capitalized development cost 5 years Other intangible assets 5 years or contract periods, whichever the shorter |
Investment property, estimated useful lives | Descriptions Depreciation method Useful lives Buildings Straight-line 40 years |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of financial risk management [Abstract] | |
Maximum exposure to credit risk | The Group’s maximum exposure to credit risk without taking into account of any collateral held or other credit enhancements as of December 31, 2018 and December 31, 2019 are as follows: 2018 2019 Due from banks and loans at amortized cost (*1)(*2): Banks W 17,935,816 12,950,561 Retail 136,499,558 152,840,826 Government 6,517,215 19,461,567 Corporations 131,795,992 140,718,619 Card receivable 21,592,287 23,114,264 314,340,868 349,085,837 Deposits and loans at FVTPL (*1)(*2) Bank 890,660 897,525 Corporations 1,189,190 2,154,821 2,079,850 3,052,346 Securities measured at FVTPL (*3) 40,289,846 48,512,857 Securities measured at fair value – OCI 37,677,646 58,573,094 Securities measured at amortized cost 28,478,136 45,582,065 Derivative assets 1,793,613 2,829,274 Other financial assets (*1)(*4) 16,837,141 17,477,778 Financial guarantee contracts 4,413,874 4,698,558 Loan commitments and other credit liabilities 165,399,937 177,660,547 W 611,310,911 707,472,356 (*1) The maximum exposure amounts for due from banks, loans and other financial assets at amortized cost are recorded as net of allowances. (*2) Due from banks and loans were classified as similar credit risk group when calculating the BIS ratio under new Basel Capital Accord (Basel III). (*3) Financial asset at fair value through profit or loss comprise debt securities at fair value through profit of loss, gold deposits. (*4) Other financial assets mainly comprise brokerage, securities and spot transaction related receivables, accrued interest receivables, secured key money deposits and domestic exchange settlement debit settled in a day. |
Maximum amount of exposure to credit risk by type of collateral of held financial instruments | 2018 12 months Life time expected credit loss Total Classification Not recognized Recognized Guarantee W 13,608,254 3,870,047 61,623 17,539,924 Deposits and Savings 1,016,391 241,567 1,379 1,259,337 Property and equipment 1,051,573 244,571 18,766 1,314,910 Real estate 119,174,347 13,856,638 281,943 133,312,928 Securities 3,460,263 105,397 — 3,565,660 Other 2,593,792 28 218 2,594,038 Total W 140,904,620 18,318,248 363,929 159,586,797 2019 12 months Life time expected credit loss Total Classification Not recognized Recognized Guarantee W 12,232,197 3,756,006 64,386 16,052,589 Deposits and Savings 1,058,353 266,407 2,437 1,327,197 Property and equipment 1,021,002 307,502 12,840 1,341,344 Real estate 128,098,318 14,932,637 370,361 143,401,316 Securities 3,340,337 137,105 — 3,477,442 Other 5,035,192 4,437 364 5,039,993 Total W 150,785,399 19,404,094 450,388 170,639,881 |
Allowance for credit loss of financial assets | • Allowance for credit loss of financial assets as of December 31, 2018 and 2019 are as follows: 2018 12 months expected credit loss Life time expected credit loss Total Allowances Net Mitigation of due to Grade 1 (*1) Grade 2 (*1) Grade 1 (*1) Grade 2 (*1) Impaired Due from banks and loans at amortized cost: Banks W 16,873,064 980,673 94,866 11,493 — 17,960,096 (24,280 ) 17,935,816 55,008 Retail 122,318,451 6,122,202 4,991,709 3,103,779 402,975 136,939,116 (439,558 ) 136,499,558 81,216,489 Government 6,474,219 2,399 45,871 — — 6,522,489 (5,274 ) 6,517,215 17,050 Corporations 82,476,923 28,445,914 9,800,260 11,659,375 882,394 133,264,866 (1,468,874 ) 131,795,992 74,069,579 Card receivable 16,129,536 2,022,525 1,791,147 2,039,390 411,595 22,394,193 (801,906 ) 21,592,287 7,599 244,272,193 37,573,713 16,723,853 16,814,037 1,696,964 317,080,760 (2,739,892 ) 314,340,868 155,365,725 Securities at fair value through other comprehensive income (*2) 30,705,879 6,865,937 — 105,830 — 37,677,646 — 37,677,646 — Securities at amortized cost 27,661,749 803,174 22,474 — — 28,487,397 (9,261 ) 28,478,136 — W 302,639,821 45,242,824 16,746,327 16,919,867 1,696,964 383,245,803 (2,749,153 ) 380,496,650 155,365,725 2019 12 months expected credit loss Life time expected credit loss Total Allowances Net Mitigation of due to Grade 1 (*1) Grade 2 (*1) Grade 1 (*1) Grade 2 (*1) Impaired Due from banks and loans at amortized cost: Banks W 11,703,863 1,179,294 77,675 1,804 — 12,962,636 (12,075 ) 12,950,561 57,087 Retail 136,124,712 7,443,675 5,694,210 3,608,216 476,897 153,347,710 (506,884 ) 152,840,826 87,826,564 Government 19,274,854 111,987 80,648 — — 19,467,489 (5,922 ) 19,461,567 — Corporations 85,202,285 32,112,103 10,219,343 13,546,622 956,772 142,037,125 (1,318,506 ) 140,718,619 77,732,792 Card receivable 17,161,184 2,249,276 1,879,073 2,233,942 444,311 23,967,786 (853,522 ) 23,114,264 8,728 269,466,898 43,096,335 17,950,949 19,390,584 1,877,980 351,782,746 (2,696,909 ) 349,085,837 165,625,171 Securities at fair value through other comprehensive income (*2) 49,276,299 9,057,701 — 239,094 — 58,573,094 — 58,573,094 — Securities at amortized cost 44,296,882 1,271,681 23,272 — — 45,591,835 (9,770 ) 45,582,065 — W 363,040,079 53,425,717 17,974,221 19,629,678 1,877,980 455,947,675 (2,706,679 ) 453,240,996 165,625,171 (*1) Credit quality of due from banks and loans was classified based on the internal credit rating as follows: Type of Borrower Grade 1 Grade 2 Banks and governments OECD sovereign credit rating of 6 or above (as applied to the nationality of the banks and governments) OECD sovereign credit rating of below 6 (as applied to the nationality of the banks and governments) Retail Pool of retail loans with probability of default of less than 2.25% Pool of retail loans with probability of default of 2.25% or more Corporations Internal credit rating of BBB+ or above Internal credit rating of below BBB+ (Probability of default for loans with internal credit rating of BBB is 2.25%) Credit cards For individual card holders, score of 7 or higher in Shinhan Card’s internal behavior scoring system For corporate cardholders, same as corporate loans For individual card holders, score of below 7 in Shinhan Card’s internal behavior scoring system For corporate cardholders, same as corporate loans (*2) As of December 31, 2018 and 2019, allowance for credit loss for securities at fair value through other comprehensive income amounted to W W |
Credit risk exposures per credit grade of off-balance items | • Credit risk exposures per credit grade of off-balance 2018 Grade 1 (*1) Grade 2 (*1) Impaired Total Financial guarantee: 12 months expected credit loss W 2,137,695 1,975,877 — 4,113,572 Life time expected credit loss 146,236 152,277 — 298,513 Impaired — — 1,789 1,789 2,283,931 2,128,154 1,789 4,413,874 Loan commitment and other credit line 12 months expected credit loss 137,920,323 19,044,745 — 156,965,068 Life time expected credit loss 6,636,365 1,787,965 — 8,424,330 Impaired — — 10,539 10,539 144,556,688 20,832,710 10,539 165,399,937 W 146,840,619 22,960,864 12,328 169,813,811 2019 Grade 1 (*1) Grade 2 (*1) Impaired Total Financial guarantee: 12 months expected credit loss W 2,805,417 1,495,091 — 4,300,508 Life time expected credit loss 248,544 148,696 — 397,240 Impaired — — 810 810 3,053,961 1,643,787 810 4,698,558 Loan commitment and other credit line 12 months expected credit loss 146,010,944 21,044,977 — 167,055,921 Life time expected credit loss 7,850,945 2,730,143 — 10,581,088 Impaired — — 23,538 23,538 153,861,889 23,775,120 23,538 177,660,547 W 156,915,850 25,418,907 24,348 182,359,105 (*1) The distinction between prime grade and normal grade is as follows: Type of Borrower Corporations and banks Grade: 1. Prime Internal credit rating of BBB+ or above Grade: 2. Normal Internal credit rating of below BBB+ |
Credit quality of derivative assets | Credit quality of derivative assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Grade 1 W 1,687,005 2,377,548 Grade 2 106,608 451,726 W 1,793,613 2,829,274 (*) Credit quality of derivative assets was classified based on the internal credit ratings. |
Concentration by geographic location | An analysis of concentration by geographic location for financial instrument, net of allowance, as of December 31, 2018 and 2019 are as follows: 2018 Korea USA England Japan Germany Vietnam China Other Total Due from banks and loans at amortized cost Banks W 8,996,272 1,712,675 462,540 640,895 213,399 947,315 3,221,442 1,741,278 17,935,816 Retail 130,034,683 359,668 4,432 3,440,623 2,151 1,031,299 974,568 652,134 136,499,558 Government 4,257,877 499,742 — 750,676 108,667 182,822 546,597 170,834 6,517,215 Corporations 116,621,693 2,707,273 109,295 2,578,989 96,468 1,846,470 2,621,744 5,214,060 131,795,992 Card 21,453,128 8,435 301 2,107 208 92,992 20,785 14,331 21,592,287 281,363,653 5,287,793 576,568 7,413,290 420,893 4,100,898 7,385,136 7,792,637 314,340,868 Deposits and loans at FVTPL Bank 186,465 704,195 — — — — — — 890,660 Corporations 1,189,190 — — — — — — — 1,189,190 1,375,655 704,195 — — — — — — 2,079,850 Securities measured at FVTPL 38,782,201 973,716 163,658 28,062 11,507 20,740 104,853 205,109 40,289,846 Securities at FVOCI 34,667,702 1,209,756 21,749 197,234 46,417 392,668 616,143 525,977 37,677,646 Securities at amortized cost 26,053,245 1,048,909 — 68,594 — 360,953 34,923 911,512 28,478,136 W 382,242,456 9,224,369 761,975 7,707,180 478,817 4,875,259 8,141,055 9,435,235 422,866,346 (*) The following accounts are the net carrying value less provision for doubtful accounts. 2019 Korea USA England Japan Germany Vietnam China Other Total Due from banks and loans at amortized cost Banks W 5,124,738 1,263,568 423,788 289,233 203,166 1,068,822 2,816,320 1,760,926 12,950,561 Retail 144,700,885 371,602 5,444 3,888,964 1,548 1,612,761 1,211,857 1,047,765 152,840,826 Government 16,805,176 529,096 — 1,080,381 — 140,960 445,526 460,428 19,461,567 Corporations 122,926,428 3,116,777 187,856 3,403,806 99,083 2,140,573 2,758,888 6,085,208 140,718,619 Card 22,916,799 9,068 321 2,233 214 141,844 25,513 18,272 23,114,264 312,474,026 5,290,111 617,409 8,664,617 304,011 5,104,960 7,258,104 9,372,599 349,085,837 Deposits and loans at FVTPL Bank 177,713 719,812 — — — — — — 897,525 Corporations 2,146,949 — — — — — — 7,872 2,154,821 2,324,662 719,812 — — — — — 7,872 3,052,346 Securities measured at FVTPL 45,635,765 1,662,249 194,591 49,067 6,346 21,625 220,837 722,377 48,512,857 Securities at FVOCI 53,939,143 1,955,627 97,710 195,165 93,769 294,095 798,068 1,199,517 58,573,094 Securities at amortized cost 42,927,646 769,884 — 163,112 — 604,019 40,741 1,076,663 45,582,065 W 457,301,242 10,397,683 909,710 9,071,961 404,126 6,024,699 8,317,750 12,379,028 504,806,199 (*) The following accounts are the net carrying value less provision for doubtful accounts. |
Concentration by industry sector | An analysis of concentration by industry sector of financial instrument, net of allowance, as of December 31, 2018 and 2019 are as follows: 2018 Finance and Manufacturing Retail and Real estate Construction Lodging and Other Retail Total Due from banks and loans at amortized cost: Banks W 17,579,099 2,219 — 300 — — 354,198 — 17,935,816 Retail — — — — — — — 136,499,558 136,499,558 Government 6,385,776 — — 2,795 — — 128,644 — 6,517,215 Corporations 8,456,599 43,957,565 17,420,532 27,009,286 3,272,406 5,610,146 26,066,753 2,705 131,795,992 Card receivable 36,343 210,324 169,070 43,236 42,209 23,506 20,968,820 98,779 21,592,287 32,457,817 44,170,108 17,589,602 27,055,617 3,314,615 5,633,652 47,518,415 136,601,042 314,340,868 Due from banks and loans at FVTPL: Banks 870,656 — — 20,004 — — — — 890,660 Corporations 554,832 213,715 209,631 2,593 1,621 900 205,898 — 1,189,190 1,425,488 213,715 209,631 22,597 1,621 900 205,898 — 2,079,850 Securities at fair value through profit or loss 25,067,491 1,646,132 1,185,571 342,124 208,455 60,829 11,779,244 — 40,289,846 Securities at fair value through other comprehensive income 22,436,768 1,695,624 302,789 480,979 480,585 — 12,280,901 — 37,677,646 Securities at amortized cost 6,634,975 99,437 — 775,580 595,334 — 20,372,810 — 28,478,136 W 88,022,539 47,825,016 19,287,593 28,676,897 4,600,610 5,695,381 92,157,268 136,601,042 422,866,346 (*) The following accounts are the net carrying value less provision for doubtful accounts. 2019 Finance and Manufacturing Retail and Real estate Construction Lodging and Other Retail Total Due from banks and loans at amortized cost: Banks W 12,461,379 — — — — — 489,182 — 12,950,561 Retail — — — — — — — 152,840,826 152,840,826 Government 19,342,308 — — 2,295 — — 116,964 — 19,461,567 Corporations 9,456,194 44,781,794 17,004,407 30,029,000 3,485,602 6,003,383 29,958,239 — 140,718,619 Card receivable 39,003 212,863 170,873 49,000 41,664 23,397 22,427,544 149,920 23,114,264 41,298,884 44,994,657 17,175,280 30,080,295 3,527,266 6,026,780 52,991,929 152,990,746 349,085,837 Due from banks and loans at FVTPL: Banks 897,525 — — — — — — — 897,525 Corporations 1,301,066 505,198 120,636 7,872 3,500 900 215,649 — 2,154,821 2,198,591 505,198 120,636 7,872 3,500 900 215,649 — 3,052,346 Securities at fair value through profit or loss 29,826,338 2,466,874 1,112,688 350,720 262,183 75,152 14,418,902 — 48,512,857 Securities at fair value through other comprehensive income 28,673,958 3,500,514 673,614 807,274 1,164,947 12,889 23,739,898 — 58,573,094 Securities at amortized cost 9,930,409 49,876 — 884,072 1,076,086 — 33,641,622 — 45,582,065 W 111,928,180 51,517,119 19,082,218 32,130,233 6,033,982 6,115,721 125,008,000 152,990,746 504,806,199 |
Market risk management from trading positions | An analysis of the Group’s requisite capital in light of the market risk for trading positions as of and for the years ended December 31, 2018 and 2019 based on the standard guidelines for risk management promulgated by the Financial Supervisory Service, is as follows: 2018 Average Maximum Minimum December 31 Interest rate W 425,235 453,644 403,195 453,644 Stock price 201,408 227,167 143,238 143,238 Foreign exchange 143,202 174,702 124,292 139,617 Commodity 6,250 9,026 4,501 6,343 Option volatility 34,334 56,834 22,045 56,834 W 810,429 921,373 697,271 799,676 2019 Average Maximum Minimum December 31 Interest rate W 508,039 527,349 479,121 504,948 Stock price 191,019 210,589 162,595 210,589 Foreign exchange 143,317 151,779 138,543 139,562 Commodity 7,691 10,558 4,953 10,558 Option volatility 57,972 74,892 39,591 67,160 W 908,038 975,167 824,803 932,817 i-3) The analyses of the ten-day 2018 Average Maximum Minimum December 31 Interest rate W 22,559 29,748 16,194 18,797 Stock price 12,118 25,701 1,976 22,212 Foreign exchange (*) 39,282 45,738 34,162 34,294 Option volatility 131 511 30 261 Commodity 17 61 — 24 Portfolio diversification (21,298 ) W 43,957 57,462 38,026 54,290 2019 Average Maximum Minimum December 31 Interest rate W 21,208 32,430 12,709 28,313 Stock price 18,136 49,424 8,171 15,386 Foreign exchange (*) 24,727 29,085 22,259 25,910 Option volatility 161 325 60 212 Commodity 15 104 — 10 Portfolio diversification (21,879 ) W 47,925 81,553 31,482 47,952 (*) Both trading and non-trading i-4) The analyses of Shinhan Card’s requisite capital in light of the market risk for trading positions as of and for the years ended December 31 2018, and 2019, based on the standard guidelines for risk management promulgated by the Financial Supervisory Service, are as follows: 2018 Average Maximum Minimum December 31 Interest rate W 1,257 1,972 768 1,269 2019 Average Maximum Minimum December 31 Interest rate W 1,417 2,000 1,000 2,000 (*) Foreign subsidiaries are excluded from the calculation i-5) The analyses of the ten-day 2018 Average Maximum Minimum December 31 Interest rate W 7,563 14,314 3,656 7,321 Stock price 64,107 103,846 6,202 43,748 Foreign exchange 5,992 13,798 154 154 Option volatility 9,200 31,810 2,195 31,810 Portfolio diversification (1,375 ) W 74,821 128,261 11,174 81,658 2019 Average Maximum Minimum December 31 Interest rate W 13,725 20,857 5,671 11,946 Stock price 31,330 74,421 15,449 25,691 Foreign exchange 4,107 37,970 368 4,369 Option volatility 9,889 31,711 2,504 9,876 Portfolio diversification (15,150 ) W 38,262 85,597 5,780 36,732 i-6) Shinhan Life Insurance The analyses of the ten-day 2018 Average Maximum Minimum December 31 Interest rate W 2,994 6,410 260 293 Stock price 4,084 4,933 2,030 4,793 Foreign exchange 1,111 2,825 40 352 Option volatility 824 4,916 89 106 W 9,013 19,084 2,419 5,544 2019 Average Maximum Minimum December 31 Interest rate W 1,853 8,856 313 600 Stock price 5,015 6,520 4,374 4,978 Foreign exchange 1,581 3,434 3 2,050 Option volatility 316 632 124 472 W 8,765 19,442 4,814 8,100 i-7) Orange Life Insurance Co., Ltd. The analyses of the ten-day 2019 Average Maximum Minimum December 31 Foreign exchange W 18,578 23,614 12,577 16,710 |
Interest rate risk management from non-trading positions | Non-trading ii-3) 2018 2019 D W 930,461 369,944 D 405,501 161,385 ii-4) 2018 2019 D W 773,293 696,505 D 501,272 554,499 ii-5) 2018 2019 D W 82,568 77,436 D 72,906 127,476 ii-6) 2018 2019 D W 5,268,879 4,831,042 D 67,638 77,000 ii-7) 2019 D W 2,800,603 D 46,372 (*1) D off-balance (*2) D |
Foreign currency denominated assets and liabilities | 2018 USD JPY EUR CNY Other Total Assets: Cash and due from banks at amortized cost W 4,797,714 1,216,221 259,631 1,595,799 1,654,668 9,524,033 Due from banks at FVTPL 704,195 — — — — 704,195 Loan receivables measured at FVTPL 347,966 3,430 4,127 — — 355,523 Loan at amortized cost 16,301,367 6,862,146 1,275,174 3,496,937 5,934,670 33,870,294 Securities at FVTPL 3,812,541 998 81,300 — 313,750 4,208,589 Derivative assets 133,197 285 2,299 406 11,875 148,062 Securities at FVOCI 3,209,293 125,512 — 357,682 728,456 4,420,943 Securities at amortized cost 1,405,775 128,512 — 34,955 1,175,733 2,744,975 Other financial assets 2,958,609 135,984 70,321 456,405 357,856 3,979,175 W 33,670,657 8,473,088 1,692,852 5,942,184 10,177,008 59,955,789 Liabilities: Deposits W 13,333,500 7,217,318 727,291 4,565,067 5,232,529 31,075,705 Financial liabilities at FVTPL 4,389 — — — 458,934 463,323 Derivative liabilities 172,556 — 1,914 2,089 4,892 181,451 Borrowings 6,287,797 446,102 280,949 395,719 173,731 7,584,298 Debt securities issued 6,168,615 317,125 293,708 — 1,715,780 8,495,228 Financial liabilities designated at FVTPL 1,168,024 — — — — 1,168,024 Other financial liabilities 2,684,717 192,161 125,434 573,544 548,754 4,124,610 W 29,819,598 8,172,706 1,429,296 5,536,419 8,134,620 53,092,639 Net assets W 3,851,059 300,382 263,556 405,765 2,042,388 6,863,150 Off-balance (2,056,586 ) (157,445 ) (217,232 ) (34,986 ) (164,797 ) (2,631,046 ) Net position W 1,794,473 142,937 46,324 370,779 1,877,591 4,232,104 2019 USD JPY EUR CNY Other Total Assets: Cash and due from banks at amortized cost W 4,235,225 1,532,661 354,686 1,714,524 1,715,443 9,552,539 Due from banks at FVTPL 719,812 — — — — 719,812 Loan receivables measured at FVTPL 479,950 — 7,872 — — 487,822 Loan at amortized cost 18,275,153 8,256,756 955,836 3,350,557 7,960,731 38,799,033 Securities at FVTPL 5,391,450 32,565 303,917 — 357,018 6,084,950 Derivative assets 342,120 1,403 16,922 391 80,506 441,342 Securities at FVOCI 4,775,714 83,713 337,573 436,236 917,335 6,550,571 Securities at amortized cost 1,392,901 183,133 67,080 40,769 1,482,574 3,166,457 Other financial assets 3,176,509 136,419 171,080 380,955 462,734 4,327,697 W 38,788,834 10,226,650 2,214,966 5,923,432 12,976,341 70,130,223 Liabilities: Deposits W 14,658,624 9,057,393 843,946 4,426,507 6,906,741 35,893,211 Financial liabilities at FVTPL — — — — 474,080 474,080 Derivative liabilities 320,176 6,466 20,833 1,163 15,564 364,202 Borrowings 8,938,762 347,881 190,366 407,767 139,658 10,024,434 Debt securities issued 7,882,293 319,041 960,890 — 1,526,661 10,688,885 Financial liabilities designated at FVTPL 1,444,254 — — — — 1,444,254 Other financial liabilities 4,391,046 155,736 125,172 567,860 978,153 6,217,967 W 37,635,155 9,886,517 2,141,207 5,403,297 10,040,857 65,107,033 Net assets W 1,153,679 340,133 73,759 520,135 2,935,484 5,023,190 Off-balance (1,335,794 ) (160,734 ) 273,571 (114,015 ) (844,534 ) (2,181,506 ) Net position W (182,115 ) 179,399 347,330 406,120 2,090,950 2,841,684 |
Contractual maturities for financial instruments including cash flows of principal and interest and off balance | Contractual maturities for financial instruments including cash flows of principal and interest and off balance as of December 31, 2018 and 2019 are as follows: 2018 Less than 1 1~3 3~6 6 months 1~5 More than Total Non-derivative Assets: Cash and due from banks at amortized cost W 14,451,366 796,510 905,259 1,196,790 1,526 57,259 17,408,710 Due from banks at fair value through profit or loss 115,476 131,712 518,109 105,359 6,053 — 876,709 Loans at fair value through profit or loss 290,724 388,218 42,550 201,591 257,873 48,982 1,229,938 Loans at amortized cost 34,025,588 34,254,065 45,151,571 68,239,781 87,760,434 66,889,553 336,320,992 Securities at fair value through profit or loss 36,043,891 41,287 35,677 403,849 1,572,268 3,351,681 41,448,653 Securities at fair value through other comprehensive income 37,519,813 12,093 5,145 20,291 255,091 507,920 38,320,353 Securities at amortized cost 505,417 1,378,525 481,193 2,270,447 15,067,164 16,896,833 36,599,579 Other financial assets 15,130,599 5,629 19,173 433,060 92,753 1,215,953 16,897,167 W 138,082,874 37,008,039 47,158,677 72,871,168 105,013,162 88,968,181 489,102,101 Liabilities: Deposits (*2) W 123,166,403 24,736,962 34,096,334 56,060,670 28,316,319 2,880,197 269,256,885 Financial liabilities at fair value through profit or loss 1,402,726 193 53 10,403 10,124 — 1,423,499 Borrowings 13,542,317 2,879,693 2,207,560 2,965,132 5,854,335 2,553,162 30,002,199 Debt securities issued 3,779,407 5,433,266 5,633,286 10,468,221 36,694,200 5,291,240 67,299,620 Financial liabilities designated at fair value through profit or loss 332,249 303,996 171,927 1,061,443 5,552,824 1,113,361 8,535,800 Other financial liabilities 19,423,802 22,744 110,883 146,256 432,277 71,318 20,207,280 W 161,646,904 33,376,854 42,220,043 70,712,125 76,860,079 11,909,278 396,725,283 Off balance (*3): Finance guarantee contracts W 4,413,874 — — — — — 4,413,874 Loan commitments and other 166,498,542 — — — — — 166,498,542 W 170,912,416 — — — — — 170,912,416 Derivatives: Net and gross settlement of derivatives W (451,926 ) (5,741 ) (26,570 ) (6,552 ) (37,532 ) (10,656 ) (538,977 ) 2019 Less than 1~3 3~6 6 months 1~5 More than Total Non-derivative Assets: Cash and due from banks at amortized cost W 25,543,400 1,039,822 421,453 1,145,323 50,070 249,503 28,449,571 Due from banks at fair value through profit or loss 130,780 150,217 594,643 21,885 — — 897,525 Loans at fair value through profit or loss 29,961 783,429 12,638 142,756 773,305 488,326 2,230,415 Loans at amortized cost 28,857,297 36,706,993 46,672,732 74,931,639 103,334,861 70,169,035 360,672,557 Securities at fair value through profit or loss 39,736,655 1,852,680 728,518 1,120,791 2,716,677 3,774,694 49,930,015 Securities at fair value through other comprehensive income 57,317,802 — — 40,145 30,195 2,111,220 59,499,362 Securities at amortized cost 1,214,108 2,015,590 1,704,574 2,098,374 17,491,024 32,951,459 57,475,129 Other financial assets 13,291,239 122,258 122,893 562,793 249,166 3,122,107 17,470,456 W 166,121,242 42,670,989 50,257,451 80,063,706 124,645,298 112,866,344 576,625,030 Liabilities: Deposits (*2) W 149,773,324 31,415,213 38,077,790 61,746,589 14,972,484 3,590,916 299,576,316 Financial liabilities at fair value through profit or loss 1,558,186 1,096 12,095 17,997 48,609 — 1,637,983 Borrowings 15,314,322 3,690,803 3,608,178 4,028,183 5,244,109 3,002,243 34,887,838 Debt securities issued 5,367,601 4,370,308 4,876,333 8,945,916 49,804,651 6,467,621 79,832,430 Financial liabilities designated at fair value through profit or loss 487,743 110,965 678,041 1,651,198 5,414,944 1,066,565 9,409,456 Other financial liabilities 23,504,746 118,689 253,779 510,768 416,868 3,449,392 28,254,242 W 196,005,922 39,707,074 47,506,216 76,900,651 75,901,665 17,576,737 453,598,265 Off balance (*3): Finance guarantee contracts W 4,698,558 — — — — — 4,698,558 Loan commitments and other 178,516,047 — — — — — 178,516,047 W 183,214,605 — — — — — 183,214,605 Derivatives: Net and gross settlement of derivatives W 407,885 9,640 34,228 18,196 160,292 176,976 807,217 (*1) These amounts include cash flows of principal and interest on financial assets and financial liabilities. (*2) Demand deposits amounting to W W (*3) Financial guarantees such as financial guarantee contracts and loan commitments and others provided by the Group are classified based on the earliest date at which the Group should fulfill the obligation under the guarantee when the counterparty requests payment. |
The fair value hierarchy of financial instruments presented at their fair values in the statements of financial position | i-1) The fair value hierarchy of financial instruments presented at their fair values in the statements of financial position as of December 31, 2018 and 2019 are as follows: 2018 Level 1 Level 2 Level 3 Total Financial assets Due from banks measured at FVTPL W — 57,236 813,420 870,656 Loan receivables measured at FVTPL — 891,636 317,558 1,209,194 Financial assets at FVTPL: Debt securities and other securities 5,084,767 29,552,429 5,497,769 40,134,965 Equity securities 528,113 143,139 493,818 1,165,070 Gold deposits 154,881 — — 154,881 Derivative assets: Trading 62,275 1,548,769 116,277 1,727,321 Hedging — 61,706 4,586 66,292 Securities measured at FVOCI: Debt securities 10,532,244 27,095,555 49,846 37,677,645 Equity securities 135,866 — 500,659 636,525 W 16,498,146 59,350,470 7,793,933 83,642,549 Financial liabilities: Financial liabilities measured at FVTPL: Securities sold W 961,372 — — 961,372 Gold deposits 458,934 — — 458,934 Financial liabilities designated at fair value through profit or loss: Derivatives-combined securities — 1,702,063 6,833,737 8,535,800 Derivative liabilities: Trading 116,160 1,444,545 285,965 1,846,670 Hedging — 232,102 361,120 593,222 W 1,536,466 3,378,710 7,480,822 12,395,998 2019 Level 1 Level 2 Level 3 Total Financial assets Due from banks measured at FVTPL W — 66,870 830,655 897,525 Loan receivables measured at FVTPL — 686,446 1,468,375 2,154,821 Financial assets at FVTPL: Debt securities and other securities 6,304,161 33,145,583 8,951,398 48,401,142 Equity securities 890,714 195,395 511,831 1,597,940 Gold deposits 111,715 — — 111,715 Derivative assets: Trading 35,711 2,088,307 462,050 2,586,068 Hedging — 240,430 2,776 243,206 Securities measured at FVOCI: Debt securities 16,892,704 41,645,124 35,266 58,573,094 Equity securities 183,107 — 624,852 807,959 W 24,418,112 78,068,155 12,887,203 115,373,470 Financial liabilities: Financial liabilities measured at FVTPL: Securities sold W 1,164,697 — — 1,164,697 Gold deposits 467,760 — — 467,760 Financial liabilities designated at fair value through profit or loss: Derivatives-combined securities — 897,967 8,511,489 9,409,456 Derivative liabilities: Trading 46,854 1,834,930 119,220 2,001,004 Hedging — 112,258 189,750 302,008 W 1,679,311 2,845,155 8,820,459 13,344,925 |
Changes in carrying values of financial instruments classified as Level 3 | i-2) Changes in carrying values of financial instruments classified as Level 3 for the years ended December 31, 2018 and 2019 are as follows: 2018 Financial Financial asset Securities Financial Derivative Beginning balance W 5,831,369 152,091 621,207 (7,273,754 ) (250,662 ) Recognized in total comprehensive income for the year: Recognized in profit (loss) for the year (*1) 359,160 3,390 4,692 10,090 (128,816 ) Recognized in other comprehensive income (loss) for the year — — 29,388 235 — 359,160 3,390 34,080 10,325 (128,816 ) Purchase 2,143,853 — 2,510 — 2,236 Issue — — — (7,127,670 ) — Settlement (1,212,202 ) (155,481 ) (107,292 ) 7,557,362 (148,987 ) Transfer to level3 (*2) 1,370 — — — 6 Transfer from level3 (*2) (985 ) — — — — Ending balance W 7,122,565 — 550,505 (6,833,737 ) (526,223 ) 2019 Financial Securities Financial Derivative Beginning balance W 7,122,565 550,505 (6,833,737 ) (526,223 ) Recognized in total comprehensive income for the year: Recognized in profit (loss) for the year (*1) 61,738 1,461 (826,594 ) 591,332 Recognized in other comprehensive income (loss) for the year 125,037 34,716 (13,654 ) — 186,775 36,177 (840,248 ) 591,332 Purchase 5,941,978 103,564 — 2,221 Issue — — (8,821,680 ) — Settlement (2,332,781 ) (22,842 ) 7,984,176 88,312 Reclassification — (7,286 ) — — Transfer to level3 (*2) 162,906 — — 248 Transfer from level3 (*2) (27,075 ) — — (34 ) Business combination (Note 50) 707,891 — — — Ending balance W 11,762,259 660,118 (8,511,489 ) 155,856 (*1) Recognized profit or loss of the changes in carrying value of financial instruments classified as Level 3 for the years ended December 31, 2018 and 2019 are included in the accounts of the statements of comprehensive income, of which the amounts and the related accounts are as follows: 2018 Amounts recognized in Recognized profit or loss from Net gain (loss) on financial assets at fair value through profit or loss W 179,658 (14,586 ) Net gain on financial assets designated at fair value through profit or loss 10,090 392,096 Net gain on securities at fair value through other comprehensive income 2,575 — Reversal of (provision for) allowance for credit loss 17 (28 ) Other operating expenses 56,176 57,317 W 248,516 434,799 2019 Amounts recognized in Recognized profit or loss from Net gain (loss) on financial assets at fair value through profit or loss W 544,849 23,912 Net gain on financial assets designated at fair value through profit or loss (826,594 ) (66,113 ) Net gain on securities at fair value through other comprehensive income 1,461 1,191 Other operating expenses 108,221 109,547 W (172,063 ) 68,537 (*2) Changes in levels for the financial instruments occurred due to the change in the availability of observable market data. The Group reviews the levels of financial instruments as of the end of the reporting period considering the related events and circumstances in the reporting period. |
Valuation techniques and inputs used in measuring the fair value of financial instruments | i-3) Valuation techniques and significant inputs not observable in markets i-3-1) Valuation techniques and inputs used in measuring the fair value of financial instruments classified as level 2 as of December 31, 2018 and 2019 are as follows: 2018 Type of financial instrument Valuation Carrying Significant inputs Assets Financial asset at fair value through profit or loss Debt securities DCF W 30,501,301 Discount rate Equity securities NAV 143,139 Price of underlying assets 30,644,440 Derivative assets Trading Option DCF 1,548,769 Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. Hedging 61,706 1,610,475 Securities at fair value through other comprehensive income DCF 27,095,555 Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. W 59,350,470 Liabilities Financial liabilities designated at fair value through profit or loss Borrowings DCF W 1,702,063 Discount rate Derivative liabilities Trading Option DCF 1,444,545 Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. Hedging 232,102 1,676,647 W 3,378,710 2019 Type of financial instrument Valuation Carrying Significant inputs Assets Financial asset at fair value through profit or loss Debt securities DCF W 33,898,899 Discount rate, interest rate, stock price and price of underlying assets such as stocks, bonds, etc. Equity securities NAV 195,395 34,094,294 Derivative assets Trading Option DCF 2,088,307 Discount rate, foreign exchange rate, volatility, stock price, and commodity index, etc. Hedging 240,430 2,328,737 Securities at fair value through other comprehensive income DCF, 41,645,124 Discount rate, growth rate and price of underlying assets such as stock, bonds, etc. W 78,068,155 Liabilities Financial liabilities designated at fair value through profit or loss Borrowings DCF W 897,967 Discount rate Derivative liabilities Trading Option DCF 1,834,930 Discount rate, foreign exchange rate, volatility, stock price, and commodity index, etc. Hedging 112,258 1,947,188 W 2,845,155 i-3-2) Valuation techniques and significant inputs, but not observable, used in measuring the fair value of financial instruments classified as level 3 as of December 31, 2018 and 2019 are as follows: 2018 Type of financial instrument Valuation Carrying Significant unobservable inputs Range Financial assets Financial asset at fair value through profit or loss Debt securities DCF, W 6,628,747 The volatility of the underlying asset Correlations 16.39%~42.56% 1.26%~39.45% 0.00% Equity securities DCF, 493,818 The volatility of the underlying asset Correlations 5.80%~41.00% 7,122,565 Derivative assets Equity and foreign exchange related Option 43,183 The volatility of the underlying asset Correlations 2.20%~38.00% 12.00%~82.00% Interest rates related Option 44,848 The volatility of the underlying asset Regression coefficient Correlations 0.00%~1.00% 0.42%~1.65% 44.93%~91.00% Credit and commodity related Option 32,832 The volatility of the underlying asset Correlations 1.00%~33.00% 33.00%~67.00% 120,863 Securities at fair value through other comprehensive income Debt securities DCF 49,846 Discount rate 8.43%~17.40% Equity securities NAV 500,659 Growth rate 0.00%~3.00% 550,505 W 7,793,933 Financial liabilities Financial liabilities at fair value through profit or loss Equity related Option W 6,833,737 The volatility of the underlying asset Correlations 0.00%~107.00% -42.00%~93.00% Derivative liabilities Equity and foreign exchange related Option 199,504 The volatility of the underlying asset Correlations 2.20%~98.00% -3.00%~82.00% Interest rates related Option 374,976 The volatility of the underlying asset Regression coefficient Correlations 0.00%~33.00% 0.42%~2.77% 28.15%~91.00% Credit and commodity related Option 72,605 The volatility of the underlying asset Correlations 1.00%~107.00% -20.00%~93.00% 647,085 W 7,480,822 (*1) Option model that the Group uses in derivative valuation includes Black-Scholes model, Hull-White model, Monte Carlo simulation, etc. (*2) There is no disclosure for valuation techniques and input variables related to items where the carrying amount is recognized as a reasonable approximation of fair value and the carrying amount is disclosed at fair value. 2019 Type of financial instrument Valuation Carrying Significant unobservable inputs Range Financial assets Financial asset at fair value through profit or loss Debt securities DCF, W 11,250,428 The volatility of the underlying asset Discount rate 0.00%~46.36% 1.14%~30.70% Equity securities DCF, 511,831 The volatility of the underlying asset Correlations Discount rate 1.00%~43.00% 5.00%~88.00% 5.06%~15.42% 11,762,259 Derivative assets Equity and foreign exchange related Option 145,011 The volatility of the underlying asset Correlations 1.51%~56.00% -42.00%~82.00% Interest rates related Option 30,983 The volatility of the underlying asset Regression coefficient Correlations 0.50%~0.67% 1.30%~1.57% 59.53% Credit and commodity related Option 288,832 The volatility of the underlying asset Correlations 0.00%~39.00% 0.00%~93.00% 464,826 Securities at fair value through other comprehensive income Debt securities DCF 35,266 Discount rate Growth rate 7.78%~19.32% 0.00%~2.00% Equity securities NAV 624,852 660,118 W 12,887,203 Financial liabilities Financial liabilities at fair value through profit or loss Equity related Option W The volatility of the underlying asset Correlations 0.00%~140.00% -46.00%~93.00% Derivative liabilities Equity and foreign exchange related Option 30,412 The volatility of the underlying asset Correlations 0.00%~140.00% 0.00%~78.00% Interest rates related Option 213,170 The volatility of the underlying asset Regression coefficient Correlations 0.00%~55.00% 1.30%~2.77% 45.06%~90.34% Credit and commodity related Option 65,388 The volatility of the underlying asset Correlations 0.00%~109.00% -46.00%~93.00% 308,970 W (*1) Option model that the Group uses in derivative valuation includes Black-Scholes model, Hull-White model, Monte Carlo simulation, etc. (*2) There is no disclosure for valuation techniques and input variables related to items where the carrying amount is recognized as a reasonable approximation of fair value and the carrying amount is disclosed at fair value. |
Sensitivity analysis for fair value measurements in Level 3 | i-4) Sensitivity analysis for fair value measurements in Level 3 For level 3 fair value measurement, changing one or more of the unobservable inputs used to reasonably possible alternative assumptions would have the following effects on profit or loss, or other comprehensive income as of December 31, 2018 and 2019. 2018 Favorable Unfavorable Financial assets: Effects on profit or loss for the period(*1): Financial asset at fair value through profit or loss W 45,760 (20,662 ) Derivative assets 28,115 (27,201 ) 73,875 (47,863 ) Effects on other comprehensive income for the period: Securities at fair value through other comprehensive income(*2) 23,885 (17,231 ) W 97,760 (65,094 ) Financial liabilities: Effects on profit or loss for the period(*1): Financial liabilities designated at fair value through profit or loss W 112,212 (131,080 ) Derivative liabilities 103,938 (88,348 ) W 216,150 (219,428 ) 2019 Favorable Unfavorable Financial assets: Effects on profit or loss for the period(*1): Financial asset at fair value through profit or loss W 44,108 (23,618 ) Derivative assets 24,792 (22,184 ) 68,900 (45,802 ) Effects on other comprehensive income for the period: Securities at fair value through other comprehensive income(*2) 36,258 (22,183 ) W 105,158 (67,985 ) Financial liabilities: Effects on profit or loss for the period(*1): Financial liabilities designated at fair value through profit or loss W 55,224 (53,294 ) Derivative liabilities 16,830 (22,535 ) W 72,054 (75,829 ) (*1) Fair value changes are calculated by increasing or decreasing the volatility of the underlying asset (-10~10%) (-10~10%). (*2) Fair value changes are calculated by increasing or decreasing discount rate (-1~1%) |
The method of measuring the fair value of financial instruments measured at amortized cost | ii-1) The method of measuring the fair value of financial instruments measured at amortized cost is as follows: Type Measurement methods of fair value Cash and due from banks The carrying amount and the fair value for cash are identical and most of deposits are floating interest rate deposits or next day deposits of a short-term instrument. For this reason, the carrying value approximates fair value. Loans The fair value of the loans is measured by discounting the expected cash flow at the market interest rate and credit risk. Securities measured at amortized cost The minimum price between the Korea Asset Pricing’s valuation, and KIS Pricing’s is used as a fair value. Deposits and borrowings The carrying amount and the fair value for demand deposits, cash management account deposits, call money as short-term instrument are identical. The fair value of others is measured by discounting the contractual cash flow at the market interest rate that takes into account the residual risk. Debt securities issued Where available, the fair value of deposits and borrowings is based on the published price quotations in an active market. In case there is no data for an active market price, it is measured by discounting the contractual cash flow at the market interest rate that takes into account the residual risk. |
The carrying value and the fair value of financial instruments measured at amortized cost | ii-2) The carrying value and the fair value of financial instruments measured at amortized cost as of December 31, 2018 and 2019 are as follows: 2018 2019 Carrying value Fair value Carrying value Fair value Assets: Deposits measured at amortized cost W 14,731,395 14,731,327 25,840,858 25,852,497 Loans measured at amortized cost: Retails 125,265,676 126,266,820 134,510,282 135,620,862 Corporations 146,302,462 147,420,557 159,560,873 160,818,205 Public and other funding loans 2,868,154 2,891,202 3,427,855 3,446,485 Loans between banks 3,579,169 3,580,576 2,629,999 2,644,603 Credit card 21,594,011 21,930,174 23,115,970 23,489,180 Securities measured at amortized cost: Government bonds 18,000,454 18,974,413 30,385,084 32,242,339 Financial institution bonds 2,171,623 2,195,425 4,770,204 4,882,081 Debentures 8,306,059 8,506,853 10,426,777 10,878,059 Other financial assets 16,837,141 16,859,986 17,477,778 17,493,331 W 359,656,144 363,357,333 412,145,680 417,367,642 Liabilities: Deposit liabilities: Demand deposits W 106,160,834 106,160,834 116,282,707 116,282,707 Time deposits 139,644,763 139,580,314 158,427,447 158,478,949 Certificate of deposit 9,247,088 9,298,457 9,707,791 9,714,806 Issued bill deposit 4,087,530 4,087,338 4,579,587 4,579,425 CMA deposits 4,084,709 4,084,709 3,987,372 3,987,372 Other 1,775,266 1,775,276 1,889,352 1,889,700 Borrowing debts: Call-money 1,425,162 1,425,162 712,247 712,247 Bills sold 14,536 14,506 19,070 19,035 Bonds sold under repurchase agreements 7,614,659 7,614,659 9,089,736 9,089,736 Borrowings 20,764,185 20,844,318 25,042,103 25,205,292 Debts: Borrowings in won 54,769,670 55,240,467 64,717,212 65,322,413 Borrowings in foreign currency 8,458,029 8,265,842 10,646,152 10,783,027 Other financial liabilities 20,545,181 20,233,920 28,231,911 27,949,306 W 378,591,612 378,625,802 433,332,687 434,014,015 |
The fair value hierarchy of financial instruments which are not measured at their fair values in the statements of financial position | ii-3) The fair value hierarchy of financial assets and liabilities which are not measured at their fair values in the statements of financial position but with their fair value disclosed as of December 31, 2018 and 2019 are as follows: 2018 Level 1 Level 2 Level 3 Total Assets: Deposits measured at amortized cost W 3,364,995 10,587,086 779,246 14,731,327 Loans measured at amortized cost: Retails — — 126,266,820 126,266,820 Corporations — — 147,420,557 147,420,557 Public and other funding loans — — 2,891,202 2,891,202 Loans between banks 590 2,498,193 1,081,793 3,580,576 Credit card — — 21,930,174 21,930,174 Securities measured at amortized cost: Government bonds 7,887,135 11,087,278 — 18,974,413 Financial institution bonds 719,925 1,475,500 — 2,195,425 Debentures — 8,423,809 83,044 8,506,853 Other financial assets 74,625 11,606,369 5,178,992 16,859,986 W 12,047,270 45,678,235 305,631,828 363,357,333 Liabilities: Deposit liabilities: Demand deposits W 1,136,610 104,998,305 25,919 106,160,834 Time deposits — — 139,580,314 139,580,314 Certificate of deposit — — 9,298,457 9,298,457 Issued bill deposit — — 4,087,338 4,087,338 CMA deposits — 4,084,709 — 4,084,709 Other 1,665,090 — 110,186 1,775,276 Borrowing debts: Call-money 465,000 960,162 — 1,425,162 Bills sold — — 14,506 14,506 Bonds sold under repurchase agreements 5,243,217 — 2,371,442 7,614,659 Borrowings — 123,874 20,720,444 20,844,318 Debts: Borrowings in won — 36,335,879 18,904,588 55,240,467 Borrowings in foreign currency — 5,558,527 2,707,315 8,265,842 Other financial liabilities 74,638 6,630,725 13,528,557 20,233,920 W 8,584,555 158,692,181 211,349,066 378,625,802 2019 Level 1 Level 2 Level 3 Total Assets: Deposits measured at amortized cost W 3,133,425 22,149,706 569,366 25,852,497 Loans measured at amortized cost: Retails — — 135,620,862 135,620,862 Corporations 108 — 160,818,097 160,818,205 Public and other funding loans — — 3,446,485 3,446,485 Loans between banks — 960,827 1,683,776 2,644,603 Credit card — — 23,489,180 23,489,180 Securities measured at amortized cost: Government bonds 20,524,820 11,717,519 — 32,242,339 Financial institution bonds 2,252,484 2,629,597 — 4,882,081 Debentures — 10,792,000 86,059 10,878,059 Other financial assets 526,813 10,813,821 6,152,697 17,493,331 W 26,437,650 59,063,470 331,866,522 417,367,642 Liabilities: Deposit liabilities: Demand deposits W 1,053,963 115,216,336 12,408 116,282,707 Time deposits — — 158,478,949 158,478,949 Certificate of deposit — — 9,714,806 9,714,806 Issued bill deposit — — 4,579,425 4,579,425 CMA deposits — 3,987,372 — 3,987,372 Other 1,747,509 — 142,191 1,889,700 Borrowing debts: Call-money 174,000 538,247 — 712,247 Bills sold — — 19,035 19,035 Bonds sold under repurchase agreements 6,734,162 — 2,355,574 9,089,736 Borrowings — — 25,205,292 25,205,292 Debts: Borrowings in won — 43,747,553 21,574,860 65,322,413 Borrowings in foreign currency — 7,535,065 3,247,962 10,783,027 Other financial liabilities 526,685 7,932,723 19,489,898 27,949,306 W 10,236,319 178,957,296 244,820,400 434,014,015 |
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 | ii-4) For financial instruments not measured at fair value in the statement of financial position but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 at December 31, 2018 and 2019 are as follows: 2018 Fair value (*) Valuation Inputs Financial instruments classified as level 2: Assets Due from banks measured at amortized cost W 10,587,086 DCF Discount rate Loans measured at amortized cost 2,498,193 DCF Discount rate, credit spread, prepayment rate Securities measured at amortized cost 20,986,587 DCF Discount rate Other financial assets 11,606,369 DCF Discount rate 45,678,235 Financial instruments classified as level 3: Assets Due from banks measured at amortized cost 779,246 DCF Discount rate Loans measured at amortized cost 299,590,546 DCF Discount rate, credit spread, prepayment rate Securities measured at amortized cost 83,044 DCF Discount rate Other financial assets 5,178,992 DCF Discount rate 305,631,828 W 351,310,063 Financial instruments classified as level 2: Liabilities Deposits W 109,083,014 DCF Discount rate Borrowings 1,084,036 DCF Discount rate Debt securities issued 41,894,406 DCF Discount rate Other financial liabilities 6,630,725 DCF Discount rate 158,692,181 Financial instruments classified as level 3: Liabilities Deposits 153,102,214 DCF Discount rate Borrowings 23,106,392 DCF Discount rate Debt securities issued 21,611,903 DCF Discount rate, regression coefficient, correlation coefficient Other financial liabilities 13,528,557 DCF Discount rate 211,349,066 W 370,041,247 2019 Fair value (*) Valuation Inputs Financial instruments classified as level 2: Assets Due from banks measured at amortized cost W 22,149,706 DCF Discount rate Loans measured at amortized cost 960,827 DCF Discount rate, credit spread, prepayment rate Securities measured at amortized cost 25,139,116 DCF Discount rate Other financial assets 10,813,821 DCF Discount rate 59,063,470 Financial instruments classified as level 3: Assets Due from banks measured at amortized cost 569,366 DCF Discount rate Loans measured at amortized cost 325,058,400 DCF Discount rate, credit spread, prepayment rate Securities measured at amortized cost 86,059 DCF Discount rate Other financial assets 6,152,697 DCF Discount rate 331,866,522 W 390,929,992 Financial instruments classified as level 2: Liabilities Deposits W 119,203,708 DCF Discount rate Borrowings 538,247 DCF Discount rate Debt securities issued 51,282,618 DCF Discount rate Other financial liabilities 7,932,723 DCF Discount rate 178,957,296 Financial instruments classified as level 3: Liabilities Deposits 172,927,779 DCF Discount rate Borrowings 27,579,901 DCF Discount rate Debt securities issued 24,822,822 DCF Discount rate, regression coefficient, correlation coefficient Other financial liabilities 19,489,898 DCF Discount rate 244,820,400 W 423,777,696 (*) Valuation techniques and inputs are not disclosed when the carrying amount is a reasonable approximation of fair value |
Changes in the difference between the fair value at initial recognition and the value using models with unobservable inputs | iii) Changes in the difference between the fair value at initial recognition (the transaction price) and the value using models with unobservable inputs for the years ended December 31, 2018 and 2019 2018 2019 Beginning balance W (137,393 ) (126,111 ) Deferral on new transactions (91,625 ) (178,223 ) Recognized in profit for the year 102,907 131,475 Ending balance W (126,111 ) (172,859 ) |
Classification by categories of financial instruments | (f) Classification by categories of financial instruments Financial assets and liabilities are measured at fair value or amortized cost. The financial instruments measured at fair value or amortized costs are measured in accordance with the Group’s valuation methodologies, which are described in Note 4.(e) Measurement of fair value. The carrying amounts of each category of financial assets and financial liabilities as of December 31, 2018 and 2019 are as follows: 2018 FVTPL FVOCI Amortized cost Derivatives Total Assets: Cash and due from banks at amortized cost W — — 17,348,626 — 17,348,626 Due from banks at fair value through profit or loss 870,656 — — — 870,656 Securities at fair value through profit or loss 41,454,916 — — — 41,454,916 Derivatives assets 1,727,321 — — 66,292 1,793,613 Loans at fair value through profit or loss 1,209,194 — — — 1,209,194 Loans at amortized cost — — 299,609,472 — 299,609,472 Securities at fair value through other comprehensive income — 38,314,170 — — 38,314,170 Securities at amortized cost — — 28,478,136 — 28,478,136 Others — — 16,837,141 — 16,837,141 W 45,262,087 38,314,170 362,273,375 66,292 445,915,924 2018 FVTPL FVTPL Financial Derivatives Total Liabilities: Deposits W — — 265,000,190 — 265,000,190 Financial liabilities at fair value through profit or loss 1,420,306 — — — 1,420,306 Financial liabilities designated at FVTPL — 8,535,800 — — 8,535,800 Derivatives liabilities 1,846,669 — — 593,223 2,439,892 Borrowings — — 29,818,542 — 29,818,542 Debt securities issued — — 63,227,699 — 63,227,699 Others — — 20,545,181 — 20,545,181 W 3,266,975 8,535,800 378,591,612 593,223 390,987,610 2019 FVTPL FVOCI Amortized cost Derivatives Total Assets: Cash and due from banks at amortized cost W — — 28,423,744 — 28,423,744 Due from banks at fair value through profit or loss 897,525 — — — 897,525 Securities at fair value through profit or loss 50,110,797 — — — 50,110,797 Derivatives assets 2,586,068 — — 243,206 2,829,274 Loans at fair value through profit or loss 2,154,821 — — — 2,154,821 Loans at amortized cost — — 323,244,979 — 323,244,979 Securities at fair value through other comprehensive income — 59,381,053 — — 59,381,053 Securities at amortized cost — — 45,582,065 — 45,582,065 Others — — 17,477,778 — 17,477,778 W 59,381,053 414,728,566 243,206 530,102,036 2019 FVTPL FVTPL Financial Derivatives Total Liabilities: Deposits W — — 294,874,256 — 294,874,256 Financial liabilities at fair value through profit or loss 1,632,457 — — — 1,632,457 Financial liabilities designated at FVTPL — 9,409,456 — — 9,409,456 Derivatives liabilities 2,001,004 — — 302,008 2,303,012 Borrowings — — 34,863,156 — 34,863,156 Debt securities issued — — 75,363,364 — 75,363,364 Others — — 28,231,911 — 28,231,911 W 9,409,456 433,332,687 302,008 446,677,612 |
Transfers that do not qualify for derecognition | i) Transfers that do not qualify for derecognition ① Sale of repurchase bonds Among the Group’s sale of repurchase bonds, followings are the details of financial instruments that do not qualify for derecognition because the Group sold on the condition that the Group repurchases at a fixed price as of December 31, 2018 and 2019: 2018 2019 Transferred asset: Securities at FVTPL W 6,711,060 7,924,953 Securities at FVOCI 688,593 1,867,470 Securities at amortized cost 156,066 818,470 W 10,610,893 Associated liabilities: Bonds sold under repurchase agreements W 7,167,364 8,717,336 ② Securities loaned If the securities owned by the Group are loaned, the ownership of the securities is transferred, but is required to be returned at the end of the loan period. Thus, the Group continues to recognize all of the securities loaned as it holds most of the risks and compensation of the securities. Securities loaned as of December 31, 2018 and 2019 are as follows: 2018 2019 Borrowers Government bonds W 1,216,381 3,951,869 Korea Securities Finance Corp., Korea Securities Depository, Financial institutions bonds 409,831 460,052 Korea Securities Finance Corp., Equity securities 6,029 30,242 Mirae Asset Daewoo Securities W 4,442,163 |
Offsetting financial assets and financial liabilities | (h) Offsetting financial assets and financial liabilities Financial assets and liabilities subject to offsetting, enforceable master netting arrangements and similar agreements as of December 31, 2018 and 2019 are as follows: 2018 Gross amounts of Gross amounts of Net amounts of Related amounts not set off in the Net amount Financial Cash collateral Assets: Derivatives (*1) W 1,730,828 — 1,730,828 6,746,640 26,638 1,165,276 Other financial instruments (*1) 7,476,505 1,268,779 6,207,726 Bonds purchased under repurchase agreements (*2) 12,945,380 — 12,945,380 12,557,025 — 388,355 Securities loaned (*2) 1,827,066 — 1,827,066 1,246,157 — 580,909 Domestic exchange settlement debit (*3) 32,647,367 26,502,611 6,144,756 74,552 — 6,070,204 Receivables from disposal of securities (*4) 22,906 519 22,387 — — 22,387 Insurance receivables 8,014 — 8,014 4,872 — 3,142 W 27,771,909 28,886,157 20,629,246 26,638 8,230,273 Liabilities: Derivatives (*1) W 11,858,108 — 11,858,108 7,850,210 — 9,334,098 Other financial instruments (*1) 6,594,979 1,268,779 5,326,200 Bonds purchased under repurchase agreements (*2) 7,170,744 — 7,170,744 7,170,744 — — Securities borrowed (*2) 746,521 — 746,521 746,521 — — Domestic exchange settlement pending (*3) 27,647,185 26,502,611 1,144,574 1,090,808 — 53,766 Payable from purchase of securities (*4) 552 519 33 33 — — Insurance payables 4,984 — 4,984 4,871 — 113 W 54,023,073 27,771,909 26,251,164 16,863,187 — 9,387,977 2019 Gross amounts of Gross amounts of Net amounts of Related amounts not set off in the Net amount Financial Cash collateral Assets: Derivatives (*1) W 2,694,236 — 2,694,236 8,090,372 263,541 1,645,802 Other financial instruments (*1) 8,624,844 1,319,365 7,305,479 Bonds purchased under repurchase agreements (*2) 11,828,135 — 11,828,135 11,051,075 — 777,060 Securities loaned (*2) 1,927,674 — 1,927,674 1,927,674 — — Domestic exchange settlement debit (*3) 31,814,310 27,008,189 4,806,121 526,653 — 4,279,468 Receivables from disposal of securities (*4) 25,808 1,134 24,674 — — 24,674 Insurance receivables 10,353 — 10,353 8,008 — 2,345 W 56,925,360 28,328,688 28,596,672 21,603,782 263,541 6,729,349 Liabilities: Derivatives (*1) W 12,803,450 — 12,803,450 8,279,924 11,693 10,704,107 Other financial instruments (*1) 7,511,639 1,319,365 6,192,274 Bonds purchased under repurchase agreements (*2) 8,717,336 — 8,717,336 8,717,336 — — Securities borrowed (*2) 1,135,614 — 1,135,614 1,135,614 — — Domestic exchange settlement pending (*3) 28,936,661 27,008,189 1,928,472 1,857,152 — 71,320 Payable from purchase of securities (*4) 1,607 1,134 473 473 — — Insurance payables 8,202 — 8,202 8,008 — 194 W 59,114,509 28,328,688 30,785,821 19,998,507 11,693 10,775,621 (*1) The Group has certain derivative transactions subject to the ISDA (International Derivatives Swaps and Dealers Association) agreement. According to the ISDA agreement, when credit events (e.g. default) of counterparties occur, all derivative agreements are terminated and set off. (*2) Resale and repurchase agreement, securities borrowing and lending agreement are also similar to ISDA agreement with respect to enforceable netting agreements. (*3) The Group has legally enforceable right to set off and settles financial assets and liabilities on a net basis under normal business terms. Therefore, domestic exchanges settlement receivables (payables) are recorded on a net basis in the consolidated statements of financial position. (*4) Receivables and payables related to settlement of purchase and disposition of enlisted securities are offset and the net amount is presented in the consolidated statement of financial position because the Group currently has a legally enforceable right to set off the recognized amounts and intends to settle on a net basis. |
The capital adequacy ratio of the Group | 2018 2019 Capital: Tier I common equity capital W 28,696,267 28,561,568 Additional tier I capital 1,981,609 3,138,262 Tier I capital 30,677,876 31,699,830 Tier II capital 3,315,185 4,014,740 Total capital (A) W 33,993,061 35,714,570 Total risk-weighted assets (B) W 228,678,105 256,891,664 Capital adequacy ratio (A/B) 14.87 % 13.90 % Tier I capital adequacy ratio 13.42 % 12.34 % Common equity capital adequacy ratio 12.55 % 11.12 % The Group complies with the capital adequacy criteria as shown in the table above (the minimum capital adequacy ratio of 8%). |
Investment in subsidiaries (Tab
Investment in subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of investment in subsidiaries [Abstract] | |
Condensed financial position for the controlling company and the Group's subsidiaries | (a) The summarized financial information of the controlling company and the Group’s major subsidiaries as of December 31, 2018 and 2019 is as follows: 2018 2019 Investees (*1) Asset balance Liability balance Equity balance Asset balance Liability balance Equity balance Shinhan Financial Group(separate) W 30,114,232 8,464,164 21,650,068 32,261,322 9,795,896 22,465,426 Shinhan Bank 348,523,615 324,331,076 24,192,539 392,723,044 366,629,929 26,093,115 Shinhan Card Co., Ltd. 29,429,455 23,427,988 6,001,467 32,917,910 26,769,044 6,148,866 Shinhan Investment Corp. 28,987,216 25,614,647 3,372,569 37,375,487 33,138,930 4,236,557 Shinhan Life Insurance Co., Ltd. 31,823,631 30,078,522 1,745,109 34,133,649 32,062,490 2,071,159 Orange Life Insurance Co., Ltd. — — — 32,841,359 29,654,711 3,186,648 Shinhan Capital Co., Ltd. 6,116,585 5,368,265 748,320 7,566,428 6,612,519 953,909 Jeju Bank 5,980,941 5,507,949 472,992 6,192,927 5,695,223 497,704 Shinhan Credit Information Co., Ltd. 24,377 8,750 15,627 25,292 10,044 15,248 Shinhan Alternative Investment Management Inc. 102,079 92,194 9,885 87,694 75,665 12,029 Shinhan BNP Paribas Asset Management Co., Ltd. 173,964 14,841 159,123 184,203 19,678 164,525 SHC Management Co., Ltd. 9,755 198 9,557 9,639 — 9,639 Shinhan DS 43,095 23,118 19,977 89,141 67,954 21,187 Shinhan Savings Bank 1,454,290 1,291,012 163,278 1,602,902 1,418,317 184,585 Asia Trust Co., Ltd. — — — 172,793 43,933 128,860 Shinhan AITAS Co., Ltd. 65,725 7,367 58,358 77,086 10,962 66,124 Shinhan REITs Management Co., Ltd. 36,298 3,496 32,802 45,832 5,619 40,213 Shinhan AI Co., Ltd. — — — 42,402 1,674 40,728 (*1) The consolidated financial statements of the consolidated subsidiaries are based on consolidated financial statements, if applicable. (*2) Trusts, beneficiary certificates, securitization special limited liability companies, associates and private equity investment specialists that are not actually operating their own business are excluded. |
Condensed comprehensive income statement for the controlling company and the Group's subsidiaries | (b) The summarized income information of the controlling company and the Group’s major subsidiaries for the years ended December 31, 2017, 2018 and 2019 is as follows: 2017 (*3) 2018 2019 Investees (*1)(*2) Operating Income Net Income Comprehensive Operating Income Net Income Comprehensive Operating Income Net Income Comprehensive Shinhan Financial Group(separate) W 1,008,868 754,727 755,018 1,519,197 1,234,883 1,234,044 1,480,030 1,129,173 1,127,202 Shinhan Bank 21,240,193 1,712,314 1,496,582 19,731,711 2,279,362 2,333,266 23,145,476 2,329,268 2,527,665 Shinhan Card Co., Ltd. 5,186,592 898,723 787,956 3,752,232 517,761 477,135 3,892,257 509,032 486,114 Shinhan Investment Corp. 5,324,056 211,919 195,910 5,279,567 251,268 269,058 6,139,926 220,764 225,963 Shinhan Life Insurance Co., Ltd. 5,997,997 120,642 46,062 5,633,679 131,021 150,997 5,413,175 123,870 326,783 Orange Life Insurance Co., Ltd. — — — — — — 4,662,085 271,455 433,510 Shinhan Capital Co., Ltd. 351,772 87,647 88,128 439,031 103,400 100,317 455,246 126,050 123,032 Jeju Bank 208,661 25,143 22,053 224,766 27,446 30,579 239,732 27,934 30,519 Shinhan Credit Information Co., Ltd. 32,836 340 377 37,616 1,392 985 38,648 507 658 Shinhan Alternative Investment Management Inc. 29,410 (844 ) (842 ) 21,590 (780 ) (780 ) 32,401 2,144 2,144 Shinhan BNP Paribas Asset Management Co., Ltd. 77,474 19,705 20,073 78,378 18,868 18,980 84,256 23,090 22,655 SHC Management Co., Ltd. 177 1,036 1,036 140 309 309 154 82 82 Shinhan DS 79,063 1,404 2,482 99,279 1,314 1,525 138,697 2,074 1,292 Shinhan Savings Bank 78,516 16,800 16,757 94,636 19,384 18,919 116,849 23,122 22,972 Asia Trust Co., Ltd. — — — — — — 54,920 18,098 18,128 Shinhan AITAS Co., Ltd. 40,781 6,481 6,481 44,729 8,461 8,461 51,823 10,821 10,821 Shinhan REITs Management Co., Ltd. 70 (752 ) (752 ) 7,386 3,564 3,552 7,342 7,414 7,411 Shinhan AI Co., Ltd. — — — — — — 3,088 (654 ) (654 ) (*1) The consolidated financial statements of the consolidated subsidiaries are based on consolidated financial statements, if applicable. (*2) Trusts, beneficiary certificates, securitization special limited liability companies, associates and private equity investment specialists that are not actually operating their own business are excluded. (*3) As the accounting treatment for the acquisition of ANZ Retail business by Shinhan Bank Vietnam Co. Ltd was completed, the amount was adjusted retrospectively. |
Operating segments (Tables)
Operating segments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of operating segments [Abstract] | |
Information of income and expense for each operating segment | (b) The following tables provide information of income and expense for each operating segment for the years ended December 31, 2017, 2018 and 2019: 2017 Banking (*) Credit card Securities Life Others Consolidation Total Net interest income W 5,107,888 1,501,054 433,047 727,917 69,231 3,816 7,842,953 Net fees and commission income 816,795 359,408 297,718 53,271 180,510 3,252 1,710,954 Impairment losses on financial assets (674,706 ) (291,694 ) (15,752 ) (13,162 ) (36,830 ) 18,596 (1,013,548 ) General and administrative expenses (3,149,436 ) (831,927 ) (444,935 ) (222,650 ) (234,649 ) 72,399 (4,811,198 ) Other income (expense), net (11,556 ) 567,234 (17,229 ) (385,226 ) 53,815 (106,173 ) 100,865 Operating income 2,088,985 1,304,075 252,849 160,150 32,077 (8,110 ) 3,830,026 Equity method income (loss) 1,306 — 12,081 (910 ) 8,796 (880 ) 20,393 Income tax expense 418,679 285,853 63,472 41,441 32,805 6,153 848,403 Profit for the period W 1,623,425 1,012,755 211,919 120,642 9,600 (29,136 ) 2,949,205 Controlling interest W 1,623,184 1,027,823 211,907 120,642 9,600 (74,340 ) 2,918,816 Non-controlling 241 (15,068 ) 12 — — 45,204 30,389 2018 Banking Credit card Securities Life Others Consolidation Total Net interest income W 5,707,813 1,583,100 429,095 761,742 95,618 2,721 8,580,089 Net fees and commission income 850,646 433,043 388,944 69,780 198,828 (2,244 ) 1,938,997 Reversal of (provision for) ACL (250,134 ) (466,447 ) (9,226 ) (13,400 ) (10,238 ) 1,568 (747,877 ) General and administrative expenses (3,098,629 ) (751,580 ) (493,906 ) (227,740 ) (263,046 ) 93,326 (4,741,575 ) Other income (expense), net (163,104 ) 74,954 17,963 (409,151 ) 80,857 (131,739 ) (530,220 ) Operating income(loss) (expense) 3,046,592 873,070 332,870 181,231 102,019 (36,368 ) 4,499,414 Equity method income (loss) (977 ) — 15,228 (1,026 ) 6,909 (2,646 ) 17,488 Income tax expense 832,494 225,837 95,438 50,429 59,556 4,591 1,268,345 Profit for the year W 2,195,263 629,307 251,268 131,021 49,168 (57,762 ) 3,198,265 Controlling interest W 2,194,950 630,993 251,265 131,021 49,168 (100,675 ) 3,156,722 Non-controlling 313 (1,686 ) 3 — — 42,913 41,543 2019 Banking Credit card Securities Life Others Consolidation Total Net interest income W 5,989,462 1,753,966 457,852 1,647,795 127,564 (238,675 ) 9,737,964 Net fees and commission income 950,389 403,259 351,303 167,324 272,244 (4,000 ) 2,140,519 Reversal of (provision for) allowance for credit loss (“ACL”) (389,004 ) (566,415 ) 1,325 (797 ) (25,030 ) (771 ) (980,692 ) General and administrative expenses (3,177,158 ) (745,848 ) (511,418 ) (443,013 ) (335,090 ) 77,853 (5,134,674 ) Other income (expense), net (211,882 ) (33,204 ) (59,006 ) (786,103 ) 129,272 244,056 (716,867 ) Operating income 3,161,807 811,758 240,056 585,206 168,960 78,463 5,046,250 Equity method income (loss) (764 ) — 18,163 (1,296 ) 12,265 24,919 53,287 Income tax expense 718,650 205,863 68,311 187,608 73,213 15,479 1,269,124 Profit for the year W 2,256,652 609,582 220,764 395,325 100,259 59,802 3,642,384 Controlling interest W 2,256,576 609,350 220,850 395,325 100,259 (178,863 ) 3,403,497 Non-controlling 76 232 (86 ) — — 238,665 238,887 (*) As the accounting treatment for the acquisition of ANZ Retail business by Shinhan Bank Vietnam Co. Ltd was completed, the amount was adjusted retrospectively. (c) The following tables provide information of net interest income (expense) of each operating segment for the years ended December 31, 2017, 2018 and 2019: 2017 Banking Credit card Securities Life Others Consolidation Total Net interest income from: External customers W 5,113,584 1,517,399 427,888 727,975 56,107 — 7,842,953 Internal transactions (5,696 ) (16,345 ) 5,159 (58 ) 13,124 3,816 — W 5,107,888 1,501,054 433,047 727,917 69,231 3,816 7,842,953 2018 Banking Credit card Securities Life Others Consolidation Total Net interest income from: External customers W 5,714,568 1,602,849 423,156 762,978 76,538 — 8,580,089 Internal transactions (6,755 ) (19,749 ) 5,939 (1,236 ) 19,080 2,721 — W 5,707,813 1,583,100 429,095 761,742 95,618 2,721 8,580,089 2019 Banking Credit card Securities Life Others Consolidation Total Net interest income from: External customers (*) W 5,995,097 1,781,266 450,268 1,647,988 103,161 (239,816 ) 9,737,964 Internal transactions (5,635 ) (27,300 ) 7,584 (193 ) 24,403 1,141 — W 5,989,462 1,753,966 457,852 1,647,795 127,564 (238,675 ) 9,737,964 (*) Consolidated adjustment to net interest income from external customers is from the securities and others which were measured in fair values as a part of business combination accounting. (d) The following tables provide information of net fees and commission income (expense) of each operating segment for the years ended December 31, 2017, 2018 and 2019: 2017 Banking Credit card Securities Life Others Consolidation Total Net fees and commission income from: External customers W 844,349 384,356 306,407 60,555 115,287 — 1,710,954 Internal transactions (27,554 ) (24,948 ) (8,689 ) (7,284 ) 65,223 3,252 — W 816,795 359,408 297,718 53,271 180,510 3,252 1,710,954 2018 Banking Credit card Securities Life Others Consolidation Total Net fees and commission income from: External customers W 872,631 464,342 400,227 77,145 124,652 — 1,938,997 Internal transactions (21,985 ) (31,299 ) (11,283 ) (7,365 ) 74,176 (2,244 ) — W 850,646 433,043 388,944 69,780 198,828 (2,244 ) 1,938,997 2019 Banking Credit card Securities Life Others Consolidation Total Net fees and commission income from: External customers W 1,157,020 254,139 361,526 175,171 192,663 — 2,140,519 Internal transactions (206,631 ) 149,120 (10,223 ) (7,847 ) 79,581 (4,000 ) — W 950,389 403,259 351,303 167,324 272,244 (4,000 ) 2,140,519 |
Financial information of geographical area | (e) Financial information of geographical area The following table provides information of income from external consumers by geographical area for the years ended December 31, 2017, 2018 and 2019. 2017 (*2) 2018 2019 Domestic W 3,504,780 4,023,916 4,378,239 Overseas 325,246 475,498 668,011 W 3,830,026 4,499,414 5,046,250 The following table provides information of non-current 2018 2019 Domestic W 7,597,266 9,816,600 Overseas 201,574 314,052 W 7,798,840 10,130,652 (*1) Non-current (*2) As the accounting treatment for the acquisition of ANZ Retail business by Shinhan Bank Vietnam Co. Ltd was completed, the amount was adjusted retrospectively. |
Cash and Due from banks at am_2
Cash and Due from banks at amortized cost (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Cash and Due from banks at amortized cost [Abstract] | |
Cash and Due from banks at amortized cost | (a) Cash and due from banks at amortized cost as of December 31, 2018 and 2019 are as follows: 2018 2019 Cash and cash equivalents W 2,617,231 2,582,886 Deposits in won: Reserve deposits 2,360,416 13,840,988 Time deposits 1,346,015 1,413,964 Other 2,271,812 1,890,541 5,978,243 17,145,493 Deposits in foreign currency: Deposits 5,045,513 5,616,049 Time deposits 2,791,486 2,393,885 Other 930,977 697,505 8,767,976 8,707,439 Allowance for credit losses (14,824 ) (12,074 ) W 17,348,626 28,423,744 |
Restricted due from banks at amortized cost | (b) Restricted due from banks at amortized cost as of December 31, 2018 and 2019 are as follows: 2018 2019 Deposits denominated in won: Reserve deposits W 2,360,416 13,840,988 Other 2,182,119 1,081,698 4,542,535 14,922,686 Deposits denominated in foreign currency 1,632,971 1,584,239 W 6,175,506 16,506,925 |
Financial assets at fair valu_2
Financial assets at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial assets at fair value through profit or loss [Abstract] | |
Financial assets at fair value through profit or loss | (a) Financial assets at fair value through profit or loss as of December 31, 2018 and 2019 are as follows: 2018 2019 Debt instruments: Governments W 2,765,054 2,873,419 Financial institutions 9,415,470 12,711,074 Corporations 6,664,839 8,541,514 Stocks with put option 381,844 598,858 Equity investment with put option 1,080,723 1,458,933 Beneficiary certificates 9,062,004 10,678,620 Commercial papers 5,535,397 5,160,063 CMA 3,001,831 3,723,401 Others (*) 2,227,802 2,655,260 40,134,964 48,401,142 Equity instruments: Stocks 1,050,097 1,488,743 Equity investment 4,908 — Others 110,066 109,197 1,165,071 1,597,940 41,300,035 49,999,082 Other: Loans at fair value 1,209,194 2,154,821 Due from banks at fair value 870,656 897,525 Gold deposits 154,881 111,715 W 43,534,766 53,163,143 (*) As of December 31, 2018 and 2019, restricted reserve for claims of customers’ deposits (trusts) are W W |
Financial assets to which overlay approach were applied in accordance with IFRS9 'Financial Instruments' and IFRS4 'Insurance Contracts' | (b) Financial assets to which overlay approach were applied in accordance with IFRS 9 ‘Financial Instruments’ and IFRS 4 ‘Insurance Contracts’ as of December 31, 2018 and 2019 are as follows. 2018 2019 Due from banks at fair value through profit or loss W 870,656 897,525 Securities at fair value through profit or loss 3,160,525 5,139,380 W 4,031,181 6,036,905 A financial asset is eligible for designation for the overlay approach, if it is measured at fair value through profit or loss applying IFRS 9 but would not have been measured at fair value through profit or loss in its entirety applying IAS 39; and it is not held in respect of an activity that is not associated with contracts within the scope of IFRS 4. |
Reclassified amounts between profit or loss and other comprehensive income due to the overlay approach | 2018 Profit or loss Other comprehensive By IFRS 9 By IAS 39 Amount Tax effect Net gain (loss) on valuation of financial assets at fair value through profit or loss W (77,179) (4,425 ) (72,754 ) 20,007 Net gain (loss) on disposal of financial assets at fair value through profit or loss 4,310 6,498 (2,188 ) 602 W (72,869) 2,073 (74,942 ) 20,609 2019 Profit or loss Other comprehensive By IFRS 9 By IAS 39 Amount Tax effect Net gain (loss) on valuation of financial assets at fair value through profit or loss W 150,865 (74,586 ) 225,451 (50,042 ) Net gain (loss) on disposal of financial assets at fair value through profit or loss 65,627 43,493 22,134 (4,672 ) W 216,492 (31,093 ) 247,585 (54,714 ) |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivatives [Abstract] | |
The notional amounts of derivatives | (a) The notional amounts of derivatives as of December 31, 2018 and 2019 are as follows: 2018 2019 Foreign currency related: Over the counter: Currency forwards W 139,804,552 137,383,704 Currency swaps 31,794,900 40,826,444 Currency options 1,939,939 2,758,801 173,539,391 180,968,949 Exchange traded: Currency futures 436,714 1,045,138 173,976,105 182,014,087 Interest rates related: Over the counter: Interest rate swaps 31,228,489 37,801,528 Interest rate options 294,000 286,000 31,522,489 38,087,528 Exchange traded: Interest rate futures 1,739,697 2,455,450 Interest rate swaps (*) 56,862,374 65,868,540 58,602,071 68,323,990 90,124,560 106,411,518 Credit related: Over the counter: Credit swaps 3,840,660 5,404,257 Equity related: Over the counter: Equity swaps and forwards 5,134,004 4,255,831 Equity options 645,709 864,038 5,779,713 5,119,869 Exchange traded: Equity futures 630,409 876,220 Equity options 2,708,557 4,039,226 3,338,966 4,915,446 9,118,679 10,035,315 Commodity related: Over the counter: Commodity swaps and forwards 890,289 758,533 Commodity options 4,780 — 895,069 758,533 Exchange traded: Commodity futures and options 245,751 344,329 1,140,820 1,102,862 Hedge: Currency forwards 1,522,306 1,869,518 Currency swaps 4,143,828 4,532,114 Interest rate swaps 10,147,731 10,091,632 15,813,865 16,493,264 W 294,014,689 321,461,303 (*) The notional amount of derivatives which is settled in the ‘Central Counter Party (CCP)’ system. |
Fair values of derivative instruments | (b) Fair values of derivative instruments as of December 31, 2018 and 2019 are as follows: 2018 2019 Assets Liabilities Assets Liabilities Foreign currency related: Over the counter: Currency forwards W 912,795 870,984 1,360,384 1,056,760 Currency swaps 393,702 372,725 473,797 519,445 Currency options 7,637 12,273 9,007 9,430 1,314,134 1,255,982 1,843,188 1,585,635 Exchange traded: Currency futures 11 — — — 1,314,145 1,255,982 1,843,188 1,585,635 Interest rates related: Over the counter: Interest rate swaps 251,251 172,019 260,020 247,723 Interest rate options — 5,347 835 5,626 251,251 177,366 260,855 253,349 Exchange traded: Interest rate futures 412 1,569 697 595 251,663 178,935 261,552 253,944 Credit related: Over the counter: Credit swaps 43,382 30,372 283,015 38,598 Equity related: Over the counter: Equity swap and forwards 51,243 205,611 144,276 39,422 Equity options 2,265 2,352 4,526 9,402 53,508 207,963 148,802 48,824 Exchange traded: Equity futures 15,937 778 4,318 6,417 Equity options 37,690 109,795 28,355 29,741 53,627 110,573 32,673 36,158 107,135 318,536 181,475 84,982 Commodity related: Over the counter: Commodity swaps and forwards 2,743 58,800 14,496 27,745 Commodity options 27 29 — — 2,770 58,829 14,496 27,745 Exchange traded: Commodity futures 8,226 4,016 2,342 10,100 10,996 62,845 16,838 37,845 Hedge: Currency forwards 9,185 30,497 14,380 21,121 Currency swaps 21,976 79,492 74,240 48,396 Interest rate swaps 35,131 483,233 154,586 232,491 66,292 593,222 243,206 302,008 W 1,793,613 2,439,892 2,829,274 2,303,012 |
Gain or loss on valuation of derivatives | (c) Gain or loss on valuation of derivatives for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Foreign currency related Over the counter Currency forwards W 85,498 41,188 174,340 Currency swaps 91,410 (34,444 ) (24,827 ) Currency options 5,422 8,247 4,056 182,330 14,991 153,569 Exchange traded Currency futures (137 ) 11 — 182,193 15,002 153,569 Interest rates related Over the counter Interest rate swaps (17,805 ) 86,675 (75,349 ) Interest rate options 413 (1,459 ) (1,938 ) (17,392 ) 85,216 (77,287 ) Exchange traded Interest rate futures 6,950 (2,512 ) 1,008 (10,442 ) 82,704 (76,279 ) Credit related Over the counter Credit swaps 46,593 (18,396 ) 213,754 Equity related Over the counter Equity swap and forwards 73,490 (271,457 ) 46,770 Equity options 36,662 4,326 (841 ) 110,152 (267,131 ) 45,929 Exchange traded Equity futures (733 ) 15,159 (2,275 ) Equity options 22,315 (44,163 ) 58,721 21,582 (29,004 ) 56,446 131,734 (296,135 ) 102,375 Commodity related Over the counter Commodity swaps and forwards 13,435 (79,296 ) 3,191 Commodity options (10 ) 33 29 13,425 (79,263 ) 3,220 Exchange traded Commodity futures 5,722 4,209 (7,759 ) 19,147 (75,054 ) (4,539 ) Hedge (286,920 ) 78,892 332,778 W 82,305 (212,987 ) 721,658 |
Gain or loss on fair value hedges | i) Gains (losses) on fair value hedged items and hedging instruments attributable to the hedged ineffectiveness for the years ended December 31, 2018 and 2019 were as follows: 2018 Gains (losses) on Gains (losses) on Hedge ineffectiveness Fair value hedges Interest rate swaps (*1) W (76,573 ) 79,635 3,062 Foreign exchange risk (*1) 55,188 (60,380 ) (5,192 ) W (21,385 ) 19,255 (2,130 ) 2019 Gains (losses) on Gains (losses) on Hedge ineffectiveness Fair value hedges Interest rate swaps (*1) W (370,787 ) 377,121 6,334 Foreign exchange risk (*1) 13,725 (18,786 ) (5,061 ) W (357,062 ) 358,335 1,273 (*1) The related account categories are presented as interest rate swap assets / liabilities and currency swap assets. (*2) Ineffective portion of hedge: the difference between hedging instruments and hedged items. |
Due to the ineffectiveness of hedge of cash flow risk and hedge of net investment in foreign operations during the year | ii) Due to the ineffectiveness of hedge of cash flow risk and hedge of net investment in foreign operations during the year, the amounts recognized in the income statement and other comprehensive income are as follows. 2018 Gains (losses) on hedges Hedge ineffectiveness From cash flow hedge Cash flow hedges Interest rate risk (*1) W (23,186 ) — — Foreign exchange risk (*1) 65,386 (5,188 ) 70,051 Hedge of net investments Foreign exchange risk (*1) (35,879 ) (3,765 ) — W 6,321 (8,953 ) 70,051 2019 Gains (losses) on hedges Hedge ineffectiveness From cash flow hedge Cash flow hedges Interest rate risk (*1) W (11,126 ) — — Foreign exchange risk (*1) 52,932 (25,709 ) (57,870 ) Discontinuation of cash flow hedges (7,986 ) — 7,986 Hedge of net investments Foreign exchange risk (*1) (49,463 ) (2,327 ) — W (15,643 ) (28,036 ) (49,884 ) (*1) The related account categories are presented as interest rate swap assets / liabilities and currency swap assets / liabilities, currency forwards assets / liabilities and borrowings. (*2) Ineffective portion of hedge: The difference between hedging instruments and hedged items. |
Nominal values and average hedge ratio for derivatives | (e) Nominal values and average hedge ratio for derivatives as of December 31, 2018 and December 31, 2019 were as follows: 2018 Less than 1~2 2~3 3~4 4~5 More than Total Interest risk: Nominal values: W 190,000 737,632 723,177 707,254 1,305,584 6,484,084 10,147,731 Average hedge ratio: 100 % 100 % 100 % 100 % 100 % 100 % 100 % Exchange risk: Nominal values: 2,731,517 1,958,746 827,158 1,038,935 302,423 — 6,858,779 Average hedge ratio: 100 % 100 % 100 % 100 % 100 % — 100 % 2019 Less than 1~2 2~3 3~4 4~5 More than Total Interest risk: Nominal values: W 750,469 704,985 717,948 1,228,424 575,481 6,114,325 10,091,632 Average hedge ratio: 100 % 100 % 100 % 100 % 100 % 100 % 100 % Exchange risk: Nominal values: 3,651,118 1,075,886 1,269,520 968,770 84,275 534,898 7,584,467 Average hedge ratio: 100 % 100 % 100 % 100 % 100 % 100 % 100 % |
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity | ii) Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity 2018 Nominal amount Carrying value Carrying value Changes if fair Fair value hedges Interest rate swap W 9,377,731 35,093 467,381 55,244 Currency swap 33,543 433 — (1,502 ) Cash flow hedge Interest rate swap 770,000 38 15,853 (23,186 ) Currency swap 4,110,285 21,543 79,492 (54 ) Currency forward 1,298,686 3,191 24,925 (33,460 ) Hedge of net investments in foreign operations Currency forward 223,620 5,994 5,572 (3,261 ) Borrowings 1,192,645 — 1,186,792 (36,383 ) 2019 Nominal amount Carrying value Carrying value Changes if fair Fair value hedges Interest rate swap W 9,371,632 154,586 210,079 — Currency swap — — 248 (1,813 ) Currency forward 261,486 776 1,358 (582 ) Cash flow hedge Interest rate swap 720,000 — 22,412 (11,126 ) Currency swap 4,532,114 74,240 48,148 (29,829 ) Currency forward 1,376,472 11,854 19,763 (4,426 ) Hedge of net investments in foreign operations Currency forward 231,560 1,750 — (4,036 ) Borrowings 1,182,835 — 1,177,897 (47,755 ) (*) The related account categories are presented as interest rate swap assets / liabilities and currency forwards |
Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity | iii) Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity 2018 Carrying value Carrying Assets of Liabilities of Changes if Cash flow Foreign Fair value hedges Interest rate risk Foreign exchange risk W 293,215 8,873,059 (2,832 ) (524,459 ) (56,462 ) — — 62,406 — — — 2,675 — — Cash flow hedge Interest rate risk — 1,539,005 — — — (10,184 ) — Foreign exchange risk 2,795,320 2,716,148 — — 63,860 (2,006 ) — Hedge of net investments in foreign operations Foreign exchange risk — — — — (35,879 ) — 138,416 2019 Carrying value Carrying Assets of Liabilities of Changes if Cash flow Foreign Fair value hedges Interest rate risk Foreign exchange risk W 432,172 8,859,022 4,846 (56,292 ) (308,463 ) — — 306,638 — — — 1,671 — — Cash flow hedge Interest rate risk 645,723 1,740,000 — — (11,126 ) 80,674 — Foreign exchange risk 4,116,068 3,035,423 — — 115,867 (11,188 ) — Hedge of net investments in foreign operations Foreign exchange risk — — — — (49,463 ) — (88,953 ) (*) The related account categories are presented as interest rate swap assets / liabilities and currency forwards. |
Securities at fair value thro_2
Securities at fair value through other comprehensive income and securities at amortised cost (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Securities at fair value through other comprehensive income and securities at amortized cost [Abstract] | |
Securities at fair value through other comprehensive income and securities at amortized cost | (a) Details of securities at FVOCI and securities at amortized cost as of December 31, 2018 and 2019 are as follows: 2018 2019 Securities at FVOCI: Debt securities: Government bonds W 8,975,391 17,597,910 Financial institutions bonds 17,341,330 21,527,242 Corporate bonds and others 11,360,924 19,447,942 37,677,645 58,573,094 Equity securities (*): Stocks 630,010 728,311 Equity investments 6,515 5,356 Others — 74,292 636,525 807,959 38,314,170 59,381,053 Securities at amortized cost: Debt securities: Government bonds 18,000,454 30,385,084 Financial institutions bonds 2,171,623 4,770,204 Corporate bonds and others 8,306,059 10,426,777 28,478,136 45,582,065 W 66,792,306 104,963,118 (*) Equity securities in the above table are classified as other comprehensive income – equity securities designated as fair value items, and other comprehensive income and fair value options were exercised for the purpose of holding as required by the policy. |
Changes in carrying value of securities at fair value through other comprehensive income and securities at amortized cost | (b) Changes in carrying value of debt securities at fair value through other comprehensive income and securities at amortized cost for the years ended December 31, 2018 and 2019 are as follows: 2018 Securities at fair value through other comprehensive income Securities at amortized cost 12 months credit loss Life time Total 12 months expected Life time expected Total Beginning allowance W 36,641,928 15,879 36,657,807 24,403,423 21,444 24,424,867 Transfer to 12 months expected credit loss — — — — — — Transfer to life time expected credit loss (26,187 ) 26,187 — — — — Transfer to impaired financial asset — — — — — — Purchase 26,938,512 98,778 27,037,290 5,836,342 — 5,836,342 Disposal (7,182,343 ) (18,687 ) (7,201,030 ) — — — Repayment (19,338,938 ) — (19,338,938 ) (1,607,467 ) (3 ) (1,607,470 ) Others (*) 538,842 (16,326 ) 522,516 (167,377 ) 1,034 (166,343 ) Ending balance W 37,571,814 105,831 37,677,645 28,464,921 22,475 28,487,396 (*) Included the effects from changing currency rate. 2019 Securities at fair value through other Securities at amortized cost 12 months credit loss Life time credit loss Total 12 months credit loss Life time credit loss Total Beginning allowance W 37,571,814 105,831 37,677,645 28,464,921 22,475 28,487,396 Transfer to 12 months expected credit loss 34,555 (34,555 ) — 20,198 (20,198 ) — Transfer to life time expected credit loss (64,928 ) 64,928 — — — — Transfer to impaired financial asset — — — — — — Purchase 46,847,222 61,410 46,908,632 12,209,898 — 12,209,898 Disposal (16,109,006 ) (10,222 ) (16,119,228 ) — — — Repayment (21,129,182 ) — (21,129,182 ) (6,722,560 ) — (6,722,560 ) Others (*) 230,733 51,702 282,435 322,107 20,995 343,102 Business combination (Note 50) 10,952,792 — 10,952,792 11,273,999 — 11,273,999 Ending balance W 58,334,000 239,094 58,573,094 45,568,563 23,272 45,591,835 (*) Included the effects from changing currency rate, amortization of fair value adjustments recognized through business combination accountings. |
Changes in allowance for credit loss of securities at fair value through other comprehensive income and securities at amortized cost | (c) Changes in allowance for credit loss of debt securities at fair value through other comprehensive income and securities at amortized cost for the years ended December 31, 2018 and 2019 are as follows: 2018 Securities at fair value through other comprehensive income Securities at amortized cost 12 months Life time Total 12 months Life time Total Beginning allowance W 17,038 1,938 18,976 6,327 2,232 8,559 Transfer to 12 months expected credit loss — — — — — — Transfer to life time expected credit loss (234 ) 234 — — — — Transfer to impaired financial asset — — — — — — Provision (reversal) 15,286 (3,220 ) 12,066 4,615 (2,215 ) 2,400 Disposal (5,251 ) (229 ) (5,480 ) — — — Others (*) (1,117 ) 1,639 522 (1,699 ) — (1,699 ) Ending balance W 25,722 362 26,084 9,243 17 9,260 (*) Included the effects from changing currency rate. 2019 Securities at fair value through other comprehensive income Securities at amortized cost 12 months Life time Total 12 months Life time Total Beginning allowance W 25,722 362 26,084 9,243 17 9,260 Transfer to 12 months expected credit loss 33 (33 ) — 4,301 (4,301 ) — Transfer to life time expected credit loss (60 ) 60 — — — — Transfer to impaired financial asset — — — — — — Provision (reversal) 8,403 (2,616 ) 5,787 (3,752 ) 4,295 543 Disposal (5,340 ) (258 ) (5,598 ) — — — Others (*) (1,177 ) 3,140 1,963 (33 ) — (33 ) Ending balance W 27,581 655 28,236 9,759 11 9,770 (*) Included the effects from changing currency rate, restructuring, bond-equity swap. |
Gain or loss on disposal of securities at fair value through other comprehensive income and securities at amortized cost | (d) Gain or loss on disposal of securities at fair value through other comprehensive income and securities at amortized cost for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Gain on disposal of securities at FVOCI W 28,018 159,883 Loss on disposal of securities at FVOCI (7,464 ) (7,605 ) Gain on disposal of securities at amortized cost (*) — 86 Loss on disposal of securities at amortized cost (*) (9 ) (20 ) W 20,545 152,344 (*) The issuers of those securities have exercised the early redemption options. |
Income or loss on equity securities at fair value through other comprehensive income | (e) Income or loss on equity securities at fair value through other comprehensive income As of December 31, 2018 and 2019, the Group recognizes dividends amounting to W W In addition, the disposition of equity securities at fair value through other comprehensive income are as follows: 2018 2019 Fair value at the date of disposal W 3,285 45,074 Cumulative net loss at the time of disposal (3,635 ) (10,843 ) |
Loans at amortized cost (Tables
Loans at amortized cost (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Loans at amortized cost [Abstract] | |
Loans at amortized cost | (a) Loans at amortized cost as of December 31, 2018 and 2019 are as follows: 2018 2019 Household loans W 120,832,081 134,423,473 Corporate loans 152,164,476 161,029,877 Public and other loans 2,831,026 3,311,735 Loans to banks 3,585,563 2,633,532 Credit card receivables 22,447,614 24,024,491 301,860,760 325,423,108 Discount (23,588 ) (27,824 ) Deferred loan origination costs 497,368 534,530 302,334,540 325,929,814 Less: Allowance for credit loss (2,725,068 ) (2,684,835 ) W 299,609,472 323,244,979 |
Changes in loans at amortized cost and other assets | (b) Changes in carrying value of loans at amortized cost and other assets as of December 31, 2018 and 2019 are as follows: i) Loans at amortized cost 2018 Retail Corporate Credit cards Others 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired Total Beginning balance W 104,325,268 7,345,842 301,838 119,852,620 18,455,422 1,084,348 16,467,623 3,743,265 385,252 4,665,298 486,090 13,163 277,126,029 Transfer (from) to 12 months expected credit losses 3,406,566 (3,402,543 ) (4,023 ) 3,736,019 (3,734,730 ) (1,289 ) 318,142 (318,025 ) (117 ) 71,381 (71,381 ) — — Transfer (from) to lifetime expected credit losses (4,920,514 ) 4,935,853 (15,339 ) (15,002,047 ) 15,051,204 (49,157 ) (587,777 ) 588,002 (225 ) (366,998 ) 366,998 — — Transfer (from) to credit- impaired financial assets (536,996 ) (36,489 ) 573,485 (1,349,787 ) (114,560 ) 1,464,347 (37,526 ) (25,522 ) 63,048 (24,068 ) (8,557 ) 32,625 — Origination 47,789,131 34,200 5,396 75,450,183 386,318 9,260 2,633,086 6,285 181,250 5,244,411 — — 131,739,520 Collection (35,972,892 ) (2,046,703 ) (215,294 ) (53,902,860 ) (8,365,144 ) (758,426 ) (74,777 ) (120,969 ) (1,511 ) (3,988,422 ) (169,909 ) (12,980 ) (105,629,887 ) Charge off — — (227,787 ) — — (312,841 ) — — (308,202 ) — — (2,567 ) (851,397 ) Disposal (42,664 ) (3,059 ) (74,664 ) (79,250 ) (15,997 ) (493,273 ) — — — — — (14,555 ) (723,462 ) Others (*1) 231,971 (7,043 ) 5,110 763,888 120,077 (23,588 ) (563,615 ) (42,527 ) 93,680 93,585 2,199 — 673,737 Ending balance W 114,279,870 6,820,058 348,722 129,468,766 21,782,590 919,381 18,155,156 3,830,509 413,175 5,695,187 605,440 15,686 302,334,540 (*1) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. (*2) The amount of uncollected loans currently in recovery (principal and interest) is W ii) Other financial assets 2018 12 months credit loss Life time credit loss Impaired Total Beginning balance W 31,599,203 456,538 23,243 32,078,984 Transfer (from) to 12 months expected credit losses 28,028 (28,024 ) (4 ) — Transfer (from) to lifetime expected credit losses (51,596 ) 51,607 (11 ) — Transfer (from) to credit- impaired financial assets (22,162 ) (2,986 ) 25,148 — Origination 30,085,141 27,251 21,930 30,134,322 Collection (30,207,574 ) (410,559 ) (4,236 ) (30,622,369 ) Charge off — — (20,984 ) (20,984 ) Disposal — (495 ) (13,083 ) (13,578 ) Others (*2) 77,654 6,129 — 83,783 Ending balance W 31,508,694 99,461 32,003 31,640,158 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. i) Loans at amortized cost 2019 Retail Corporate Credit card Others 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired Total Beginning balance W 114,279,870 6,820,058 348,722 129,468,766 21,782,590 919,381 18,155,156 3,830,509 413,175 5,695,187 605,440 15,686 302,334,540 Transfer (from) to 12 months expected credit losses 2,619,036 (2,614,416 ) (4,620 ) 4,093,725 (4,088,373 ) (5,352 ) 320,288 (320,129 ) (159 ) 37,430 (37,430 ) — — Transfer (from) to lifetime expected credit losses (5,385,659 ) 5,406,091 (20,432 ) (16,484,206 ) 16,597,346 (113,140 ) (603,069 ) 603,280 (211 ) (210,161 ) 210,333 (172 ) — Transfer (from) to credit- impaired financial assets (627,950 ) (43,168 ) 671,118 (1,088,270 ) (76,177 ) 1,164,447 (36,483 ) (22,473 ) 58,956 (39,844 ) — 39,844 — Origination 51,784,970 25,296 4,469 75,800,467 480,163 2,485 1,647,393 315,643 305,487 5,495,139 — — 135,861,512 Collection (38,870,803 ) (1,814,003 ) (238,174 ) (57,057,718 ) (9,966,512 ) (395,670 ) (59,799 ) (5,328 ) 253 (5,949,565 ) (149,802 ) (11,979 ) (114,519,100 ) Charge off — — (257,742 ) — — (259,400 ) — — (332,862 ) — — (8,718 ) (858,722 ) Disposal — (5,122 ) (108,624 ) (117,453 ) (3,806 ) (283,747 ) — — — — — (18,398 ) (537,150 ) Others (*1) 320,096 88,420 10,744 583,534 (80,749 ) (50,283 ) (3,880 ) (276,926 ) (404 ) 139,207 927 — 730,686 Business combination (Note 50) 2,466,991 7,752 10,431 392,828 17,180 22,866 — — — — — — 2,918,048 Ending balance W 126,586,551 7,870,908 415,892 135,591,673 24,661,662 1,001,587 19,419,606 4,124,576 444,235 5,167,393 629,468 16,263 325,929,814 (*1) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. (*2) The amount of uncollected loans currently in recovery (principal and interest) is W ii) Other financial assets 2019 12 month credit loss Life time credit loss Impaired Total Beginning balance W 31,508,694 99,461 32,003 31,640,158 Transfer (from) to 12 month expected credit losses 12,685 (12,675 ) (10 ) — Transfer (from) to lifetime expected credit losses (253,546 ) 253,575 (29 ) — Transfer (from) to credit- impaired financial assets (3,124 ) (5,324 ) 8,448 — Origination 62,331,232 29,315 27,281 62,387,828 Collection (51,845,962 ) (259,371 ) (2,036 ) (52,107,369 ) Charge off — — (29,456 ) (29,456 ) Disposal (*2) (182,212 ) (3 ) (1,062 ) (183,277 ) Others (*3) 261,019 42 — 261,061 Business combination (Note 50) 1,416,216 1,497 10,826 1,428,539 Ending balance W 43,245,002 106,517 45,965 43,397,484 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) Included the disposal amount of financial instruments for the purpose of collecting loans for credit concentration risk management of non-current W (*3) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. |
Changes in allowances for credit loss of loans at amortized cost and other assets | (c) Changes in allowance for credit loss of loans at amortized cost and other financial assets as of December 31, 2018 and 2019 are as follows: i) Loans at amortized cost 2018 Retail Corporate Credit cards Others (*) 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired Total Beginning balance W 88,167 125,362 160,536 472,685 624,730 609,925 160,478 335,170 278,759 9,283 2,997 3,894 2,871,986 Transfer (from) to 12 month expected credit losses 45,985 (45,516 ) (469 ) 49,898 (49,552 ) (346 ) 57,848 (57,814 ) (34 ) 433 (433 ) — — Transfer (from) to lifetime expected credit losses (5,862 ) 11,415 (5,553 ) (43,180 ) 79,567 (36,387 ) (19,671 ) 19,687 (16 ) (221 ) 221 — — Transfer (from) to credit- impaired financial assets (750 ) (3,551 ) 4,301 (798 ) (34,627 ) 35,425 (1,288 ) (3,793 ) 5,081 (4 ) (140 ) 144 — Provision (reversal) (10,735 ) 369 169,495 (49,962 ) (43,876 ) 203,667 122,112 132,670 166,338 1,165 3,229 10,043 704,515 Charge off — — (227,787 ) — — (312,841 ) — — (308,202 ) — — (2,567 ) (851,397 ) Amortization of discount — — (218 ) — — (17,653 ) — — (2,907 ) — — — (20,778 ) Disposal (302 ) (17 ) (4,242 ) (334 ) (357 ) (52,871 ) — — — — — (2,454 ) (60,577 ) Collection — — 57,065 — — 78,249 — — 175,120 — — 846 311,280 Others (*) (1,208 ) 298 3,331 6,484 6,030 12,515 (149,237 ) (74,155 ) (34,041 ) 14 8 — (229,961 ) Ending balance W 115,295 88,360 156,459 434,793 581,915 519,683 170,242 351,765 280,098 10,670 5,882 9,906 2,725,068 (*) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. ii) Other financial assets 2018 12 months credit loss Life time credit loss Impaired Total Beginning balance W 39,048 7,666 20,166 66,880 Transfer (from) to 12 months expected credit losses 581 (578 ) (3 ) — Transfer (from) to lifetime expected credit losses (212 ) 222 (10 ) — Transfer (from) to credit- impaired financial assets (94 ) (2,209 ) 2,303 — Provision (reversal) (1,998 ) 1,775 24,293 24,070 Charge off — — (20,984 ) (20,984 ) Disposal — (7 ) (2,736 ) (2,743 ) Collection — — 1,815 1,815 Others (*2) 2,602 61 (80 ) 2,583 Ending balance W 39,927 6,930 24,764 71,621 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. i) Loans at amortized cost 2019 Retail Corporate Credit cards Others 12 month Life time Impaired 12 month Life time Impaired 12 month Life time Impaired 12 month Life time Impaired Total Beginning balance W 115,295 88,360 156,459 434,793 581,915 519,683 170,242 351,765 280,098 10,670 5,882 9,906 2,725,068 Transfer (from) to 12 months expected credit losses 18,079 (17,592 ) (487 ) 50,720 (48,295 ) (2,425 ) 55,815 (55,712 ) (103 ) 757 (757 ) — — Transfer (from) to lifetime expected credit losses (9,411 ) 17,342 (7,931 ) (35,790 ) 118,605 (82,815 ) (20,607 ) 20,756 (149 ) (159 ) 289 (130 ) — Transfer (from) to credit- impaired financial assets (942 ) (3,739 ) 4,681 (565 ) (13,332 ) 13,897 (1,250 ) (3,916 ) 5,166 — — — — Provision (reversal) (7,751 ) 19,130 214,260 (43,230 ) (31,265 ) 277,436 57,062 280,047 147,332 (4,067 ) 1,907 37 910,898 Charge off — — (257,742 ) — — (259,400 ) — — (332,862 ) — — (8,718 ) (858,722 ) Amortization of discount — — (274 ) — — (19,396 ) — — (5,541 ) — — — (25,211 ) Disposal — (241 ) (21,561 ) (6 ) (245 ) (30,436 ) — — — — — (820 ) (53,309 ) Collection — — 70,319 — — 62,973 — — 190,738 — — 1,876 325,906 Others (*) 2,484 (15,353 ) 4,522 13,810 (76,711 ) (27,910 ) (87,378 ) (227,692 ) 30,171 300 160 — (383,597 ) Business combination (Note 50) 15,658 3,118 6,792 20 614 17,600 — — — — — — 43,802 Ending balance W 133,412 91,025 169,038 419,752 531,286 469,207 173,884 365,248 314,850 7,501 7,481 2,151 2,684,835 (*) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. ii) Other financial assets 2019 12 months credit loss Life time credit loss Impaired Total Beginning balance W 39,927 6,930 24,764 71,621 Transfer (from) to 12 months expected credit losses 458 (453 ) (5 ) — Transfer (from) to lifetime expected credit losses (231 ) 244 (13 ) — Transfer (from) to credit- impaired financial assets (172 ) (2,310 ) 2,482 — Provision 2,822 2,667 28,456 33,945 Charge off — — (29,456 ) (29,456 ) Collection — — 1,873 1,873 Others (*2) (9,738 ) 9 435 (9,294 ) Business combination (Note 50) 921 185 9,054 10,160 Ending balance W 33,987 7,272 37,590 78,849 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) Other changes are due to restructuring, debt-equity swap and exchange rate fluctuations. |
Changes in deferred loan origination costs | (d) Changes in deferred loan origination costs for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Beginning balance W 434,746 497,368 Loan origination 235,032 232,943 Amortization (172,410 ) (208,998 ) Business combination (Note 50) — 13,217 Ending balance W 497,368 534,530 |
Property and equipment, net (Ta
Property and equipment, net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property and equipment, net [Abstract] | |
Property and equipment | (a) Details of property and equipment as of December 31, 2018 and 2019 are as follows: 2018 Acquisition Accumulated Carrying Land W 1,827,711 — 1,827,711 Buildings 1,173,888 (321,319 ) 852,569 Others 2,002,755 (1,679,149 ) 323,606 W 5,004,354 (2,000,468 ) 3,003,886 2019 Acquisition Accumulated Carrying Land W 1,815,112 — 1,815,112 Buildings 1,167,514 (377,065 ) 790,449 Right-of-use 1,357,206 (244,410 ) 1,112,796 Others 2,130,805 (1,765,834 ) 364,971 W 6,470,637 (2,387,309 ) 4,083,328 |
Changes in property and equipment | (b) Changes in property and equipment for the years ended December 31, 2018 and 2019 are as follows: 2018 Land Buildings Others Total Beginning balance W 1,819,912 883,421 318,439 3,021,772 Acquisitions (*1) 33 14,612 136,244 150,889 Disposals (*1) (17,735 ) (3,282 ) (9,699 ) (30,716 ) Depreciation — (47,207 ) (124,564 ) (171,771 ) Amounts transferred from(to) investment properties 23,972 4,227 — 28,199 Amounts transferred from(to) non-current (32 ) (48 ) — (80 ) Effects of foreign currency movements 1,561 846 3,186 5,593 Ending balance W 1,827,711 852,569 323,606 3,003,886 (*1) W construction-in (*2) Included buildings, land. 2019 Land Buildings Right-of-use Others Total Beginning balance (*1) W 1,827,711 852,569 583,576 313,853 3,577,709 Acquisitions (*2) 69,045 16,946 805,783 184,630 1,076,404 Disposals (*2) (249 ) (1,719 ) (12,595 ) (29,081 ) (43,644 ) Depreciation — (55,450 ) (298,538 ) (125,669 ) (479,657 ) Amounts transferred from(to) investment property (81,311 ) (23,262 ) — — (104,573 ) Amounts transferred from(to) intangible assets — — — 271 271 Amounts transferred from(to) non-current (410 ) (45 ) — — (455 ) Effects of foreign currency movements 326 1,410 2,981 9,314 14,031 Business combination (Note 50) — — 31,589 11,653 43,242 Ending balance W 1,815,112 790,449 1,112,796 364,971 4,083,328 (*1) The 9,753 million is transferred from other property and equipment to right-of-use (*2) W construction-in (*3) Included buildings, and land. |
Insured assets | (c) Insured assets and liability insurance as of December 31, 2019 are as follows: 2019 Type of insurance Insured assets Amount covered Insurance company Comprehensive insurance for financial institutions Cash(including 23,200 Samsung Fire & Marine Insurance Co., Ltd., etc. Comprehensive Property insurance Property Total Risk, 1,315,820 Samsung Fire & Marine Insurance Co., Ltd., etc. Fire insurance Business property 22,141 Meritz Fire & Marine Insurance Co., Ltd., etc. Compensation liability insurance for officers Officer liability of 60,000 Meritz Fire & Marine Insurance Co., Ltd., etc. Compensation liability insurance for employee accident Employee 70,841 Meritz Fire & Marine Insurance Co., Ltd., etc. Burglary insurance Cash and securities 83,485 Samsung Fire & Marine Insurance Co., Ltd., etc. Others Personal 32,260 Samsung Fire & Marine Insurance Co., Ltd. |
Intangible assets, net (Tables)
Intangible assets, net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Intangible assets, net [Abstract] | |
Intangible assets | (a) Details of intangible assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Goodwill W 3,903,518 4,690,049 Software 102,393 129,235 Development cost 82,536 144,100 Others 231,687 595,330 W 4,320,134 5,558,714 |
Changes in intangible assets | (b) Changes in intangible assets for the years ended December 31, 2018 and 2019 are as follows: 2018 Goodwill Software Development Others Total Beginning balance W 3,901,260 83,829 75,322 212,910 4,273,321 Acquisitions — 56,009 38,230 69,501 163,740 Disposals — (334 ) (5,880 ) (7,117 ) (13,331 ) Impairment (*1) — — (706 ) (362 ) (1,068 ) Amortization (*2) — (40,792 ) (24,430 ) (41,957 ) (107,179 ) Effects of foreign currency movements — 3,681 — (1,288 ) 2,393 Business combination 2,258 — — — 2,258 Ending balance W 3,903,518 102,393 82,536 231,687 4,320,134 (*1) Memberships such as golf and condominium memberships are intangible assets that cannot be limited to a specific period of time. If the market value of the exchanges is less than the carrying amount at the end of the reporting period, the impairment loss is recognized. (*2) Included in general administrative expense and other operating income of the consolidated comprehensive income. 2019 Goodwill Software Development Others Total Beginning balance W 3,903,518 102,393 82,536 231,687 4,320,134 Acquisitions — 56,834 71,713 675,070 803,617 Business combination (Note 50) 786,531 9,469 30,435 44,850 871,285 Disposals — (428 ) (1,310 ) (16,476 ) (18,214 ) Amounts transferred from(to) property and equipment — 697 (968 ) — (271 ) Impairment (*1)(*2) — — (474 ) (151,169 ) (151,643 ) Amortization (*3) — (40,578 ) (37,832 ) (189,533 ) (267,943 ) Effects of foreign currency movements — 848 — 901 1,749 Ending balance W 4,690,049 129,235 144,100 595,330 5,558,714 (*1) The Group reviewed the recoverable value of intangible assets related to the rights to be the depository bank of local governments due to the performance below forecast and future prospects. For the year ended December 31, 2019, the impairment loss amounted to W non-operating (*2) Memberships such as golf and condominium memberships are intangible assets that cannot be limited to a specific period of time. If the market value of the exchanges is less than the carrying amount at the end of the reporting period, the impairment loss is recognized. (*3) Included in general administrative expense and other operating income of the consolidated statements of comprehensive income. |
Goodwill allocated in the Group's CGUs | i) Goodwill allocated in the Group’s CGUs as of December 31, 2018 and 2019 2018 2019 Banking W 810,058 810,058 Credit card 2,773,231 2,880,383 Securities 7,904 7,904 Life insurance (Shinhan Life Insurance) 275,371 275,371 Life insurance (Orange Life Insurance Co., Ltd.) — 564,576 Others 36,954 151,757 W 3,903,518 4,690,049 |
Changes in goodwill | ii) Changes in goodwill for the years ended December 31, 2018 and 2019 2018 2019 Beginning balance W 3,901,260 3,903,518 Acquisitions through business combinations (*1)(*2) 2,258 786,531 Ending balance W 3,903,518 4,690,049 (*1) recognized as a result of the Group’s acquisitions of Orange Life Insurance Co., Ltd.(“Orange Life”), Asia Trust Co., and the Shinhan Card’s acquisition of the new business for the year ended December 31, 2019 (Note 50). (*2) recognized as a result of the Shinhan Financial Investment Corp. acquisition of the new business for the year ended December 31, 2018. |
Discount rates and terminal growth rates | • Discount rates and terminal growth rates applied to each CGU are as follows: Discount rates(%) Terminal growth rate(%) Banking 8.3~13.9 1.0~3.0 Credit card 8.9~13.3 1.0~3.0 Securities 12.1~13.3 3.0 Life insurance (Shinhan Life Insurance) 8.0 — Life insurance (Orange Life Insurance Co., Ltd.) 8.0 — Others 9.2~14.0 1.0 |
Key assumptions | iv) Key assumptions Key assumptions used in the discounted cash flow calculations of CGUs (other than life insurance components) are as follows: 2019 2020 2021 2022 2023 2024 CPI growth(%) 0.7 1.1 1.6 1.8 1.7 1.7 Private consumption growth(%) 2.0 2.0 2.2 2.5 2.4 2.4 Real GDP growth(%) 1.9 2.2 2.4 2.7 2.6 2.6 Key assumptions used in the discounted cash flow calculations of life insurance components are as follows: Key assumptions Rate of return on investment(%) 2.45~2.75 Risk-based capital ratio(%) 150.00 The values for the CPI growth rate, real retail sales growth rate, real GDP growth rate, rate of return on investment and risk-based capital ratio are based on a combination of internal and external analysis. |
Total recoverable amount and total carrying value of CGUs to which goodwill has been allocated | v) Total recoverable amount and total carrying value of CGUs to which goodwill has been allocated, are as follows: Amount Total recoverable amount W 46,896,966 Total carrying value 41,902,106 W 4,994,860 |
Investments in associates (Tabl
Investments in associates (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments in associates [Abstract] | |
Investments in associates | (a) Investments in associates as of December 31, 2018 and December 31, 2019 are as follows: Investees Country Reporting date Ownership (%) 2018 2019 BNP Paribas Cardif Life Insurance (*1),(*3) Korea September 30 14.99 14.99 Songrim Partners. (*1),(*4) ” December 31 35.34 35.34 Daewontos Co., Ltd. (*7) ” — 36.33 — Neoplux Technology Valuation Investment Fund (*1) ” September 30 33.33 33.33 Partners 4th Growth Investment Fund (*1) ” ” 25.00 25.00 KTB Newlake Global Healthcare PEF (*1) ” ” 30.00 30.00 JAEYANG INDUSTRY (*7) ” — 25.90 — Daekwang Semiconductor Co., Ltd. (*1),(*4) ” September 30 20.94 20.94 Shinhan-Neoplux Energy Newbiz Fund (*1) ” September 30 23.33 23.33 Shinhan-Albatross tech investment Fund ” December 31 50.00 50.00 KCLAVIS Meister Fund No.17 ” ” 26.09 26.09 Plutus-SG ” ” 26.67 26.67 SG ARGES Private Equity Fund No.1 (*7) ” — 24.06 — Eum Private Equity Fund No.3 ” December 31 20.76 20.76 KTB Confidence Private Placement ” ” 30.29 31.43 Meritz AI-SingA330-A ” ” 23.89 23.89 Meritz AI-SingA330-B ” ” 20.16 20.16 VOGO Debt Strategy Qualified INV Private R/E INV TR 4 ” ” 20.00 20.00 Platform Partners brick save Private Investment trust (*7) ” — 98.77 — Shinhan-Midas Donga Secondary Fund ” December 31 50.00 50.00 ShinHan – Soo Young Entrepreneur Investment Fund No.1 ” ” 24.00 24.00 Synergy-Shinhan Mezzanine New Technology Investment Fund ” ” 47.62 47.62 Shinhan Praxis K-Growth ” ” 18.87 18.87 Credian Healthcare Private Equity Fund II ” ” 34.07 34.07 Kiwoom Milestone Professional Private Real Estate Trust 19 ” ” 50.00 50.00 AIP EURO Green Private Real Estate Trust No.3 ” ” 21.28 21.28 Brain Professional Private Trust No.4 (*7) ” — 27.50 — Hanhwa US Equity Strategy Private Real Estate Fund No.1 ” December 31 44.84 44.84 Brain KS Qualified Privately Placed Fund No.6 (*7) ” — 50.00 — Shinhan Global Healthcare Fund 1 (*5) ” December 31 4.41 4.41 JB Power TL Investment Type Private Placement Special Asset Fund 7 ” ” 33.33 33.33 IBK AONE convertible 1 ” ” 47.25 47.25 Rico synergy collabo Multi-Mezzanine Korea December 31 50.03 50.03 KB NA Hickory Private Special Asset Fund ” ” 37.50 37.50 GB Professional Private Investment Trust 6 (*7) ” — 94.51 — Koramco Europe Core Private Placement Real Estate Fund No.2-2 ” December 31 44.02 44.02 SHBNPP Private Korea Equity Long-Short Professional Feeder (*10) ” — 21.52 — Shinhan-Stonebridge Petro PEF (*5) ” December 31 1.82 1.82 BNP Paribas Cardif General Insurance (*1),(*2) ” September 30 10.00 10.00 Axis Global Growth New Technology Investment Association ” December 31 31.85 31.85 Polaris No7 Start up and Venture Private Equity Fund ” ” 28.57 28.57 Hermes Private Investment Equity Fund ” ” 29.17 29.17 SHC ULMUS Fund No.1 ” ” 29.41 29.41 Shinhan-Nvestor Liquidity Solution Fund ” ” 24.92 24.92 Shinhan AIM FoF Fund 1a ” ” 24.91 25.00 Daishin Heim Qualified Investor Private Investment Trust No.1808 (*7) ” — 34.48 — Heungkuk High Class Professional Trust Private Fund 37 (*7) ” — 50.00 — IGIS Global Credit Fund 150-1 ” December 31 25.11 25.00 GX Shinhan Intervest 1st Private Equity Fund ” ” 25.27 25.27 Soo Commerce Platform Growth Fund ” ” 24.62 24.62 Partner One Value up I Private Equity Fund ” ” 27.91 27.91 Genesis No.1 Private Equity Fund ” ” 22.80 22.80 GMB ICT New Technology Investment Fund ” ” 26.75 26.75 Korea Omega Project Fund III ” ” 23.53 23.53 Soo Delivery Platform Growth Fund ” ” 30.00 30.00 Genesis North America Power Company No.1 PEF ” ” 39.92 39.92 Hyungje art printing (*1),(*4) ” ” 31.54 31.54 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 ” ” 23.33 23.33 Shinhan-Rhinos 1 Fund ” ” — 22.48 Pacific Private Investment Trust No.20 ” ” — 21.74 Susung Mezzanine project P1 Private Investment Trust ” ” — 41.18 Korea Finance Security (*1),(*9) ” September 30 — 14.91 MIEL CO.,LTD (*4) ” December 31 — 28.77 AIP Transportation Specialized Privately Placed Fund Trust #1 ” ” — 35.73 Lime Neptune Professional Private 6 ” ” — 50.00 PCC S/W 2nd Fund ” ” — 29.56 E&Healthcare Investment Fund No.6 (*5) ” ” — 20.37 One Shinhan Global Fund 1 (*5) ” ” — 19.98 Kiwoom-Shinhan Innovation Fund I Korea December 31 — 50.00 Daishin-K&T ” ” — 31.25 Midas Asset Global CRE Debt Private Fund No.6 ” ” — 20.05 Richmond Private Investment Trust No.82 (*6) ” ” — 60.00 Tiger Alternative Real Estate Professional Private5 ” ” — 48.71 Samchully Midstream Private Placement Special Asset Fund 5-4 ” ” — 42.92 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 ” ” — 20.00 AUCTUS FITRIN Corporate Recovery Private Equity Fund ” ” — 21.43 NH-Amundi ” ” — 30.00 Pacific Private Real Estate Fund Investment Trust No.30 ” ” — 37.50 Jarvis Memorial Private Investment Trust 1 (*6) ” ” — 99.01 Mastern Private Investment Trust 68 (*6) ” ” — 53.76 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 (*8) ” ” — 60.00 Milestone Private Real Estate Fund 3 (Derivative Type) ” ” — 32.06 IGIS Private Real Estate Investment Trust 286 (2 class) ” ” — 41.56 Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) ” ” — 31.31 Lime Pricing Private Equity Fund ” ” — 25.85 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 ” ” — 21.27 DS Solid.II Hedge Fund ” ” — 27.41 Hana Semiconductor New Technology Fund ” ” — 24.30 J&Magnet Startup Venture Specialized Private Equity Fund (*1) ” September 30 — 24.39 Cape IT Fund No.3 ” December 31 — 32.89 Vogo Realty Partners Private Real Estate Fund V ” ” — 21.64 IL GU FARM CO.,LTD (*1)(*4) — ” — 28.47 Korea Credit Bureau (*1)(*9) ” September 30 — 9.00 SBC PFV Co., Ltd (*11) ” December 31 — 25.00 Sprott Global Renewable Private Equity Fund II ” ” — 23.10 NH-amundi ” ” — 50.00 IMM Global Private Equity Fund ” ” — 31.85 HANA Alternative Estate Professional Private122 (*8) ” ” — 75.19 Hanwha-Incus Plus New Technology Fund No.1 ” ” — 42.64 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] ” ” — 45.96 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust (*8) Korea December 31 — 57.50 PSA EMP Private Equity Fund ” ” — 28.99 Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 (*8) ” ” — 52.28 SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] ” ” — 25.70 SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] ” ” — 25.42 BRAIN DO PROFESSIONALE PRIVATE No. 27 ” ” — 29.13 VISION US Muni US Local Debt Opportunities Professional Private1(S) ” ” — 25.00 (*1) The latest financial statements were used for the equity method since the financial statements as of December 31, 2019 were not available. Significant trades and events occurred within the period were properly reflected. (*2) The Group applies the equity method accounting as the Group has significant influence on the financial and operating policies of the investee through the ability to elect investees’ board members and representation in decision making bodies of the investee. (*3) The Group applies the equity method accounting as the Group has a significant influence on the investees through important business transactions. (*4) As a part of the rehabilitation process, the Group acquired shares through the conversion of equity investments, as the Group cannot exercise voting rights during the process, the Group has classified the shares as investments at fair value through profit or loss. The Group reclassified Securities at fair value through profit or loss to investments in associates as the reorganization procedures were completed and now the Group can normally exercise its voting rights to the investees. (*5) As a managing partner, the Group has a significant influence over the investees. (*6) As a limited partner, the Group does not have an ability to participate in policy-making processes to obtain economic benefit from the investees that would allow the Group to control the entity. (*7) Excluded from the investments in associates due to full or partial disposal of shares, or loss of significant influence. (*8) Although the ownership interests were more than 50%, the Group applies the equity method accounting as the Group does not have an ability to participate in the financial and operating policy-making process. (*9) Although the ownership percentages were less than 20%, the Group applies the equity method accounting since it participates in policy-making processes and therefore can exercise significant influence on investees. (*10) The investment in the associate is consolidated due to the additional acquisition of the shares from the year ended December 31, 2019. (*11) The rate of Group’s voting rights is 4.65%. |
Changes in investments in associates | (b) Changes in investments in associates for the years ended December 31, 2018 and 2019 were as follows: 2018 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance BNP Paribas Cardif Life Insurance W 52,616 (2,043 ) 783 (1,540 ) — 49,816 Daewontos Co., Ltd. (*1) — — — — — — Songrim Partners. (*1) 48 — (48 ) — — — Neoplux Technology Valuation Investment Fund 13,470 6,000 (242 ) (490 ) — 18,738 JAEYOUNG SOLUTEC CO., LTD. 3,849 (2,865 ) (836 ) (148 ) — — Partners 4th Growth Investment Fund 13,390 2,597 625 — — 16,612 JAEYANG INDUSTRY (*1) — — — — — — KTB Newlake Global Healthcare PEF 2,653 7,470 (238 ) — — 9,885 DAEKWANG SEMICONDUCTOR CO., LTD. 3,824 — (490 ) — — 3,334 Shinhan-Neoplux Energy Newbiz Fund 1,400 2,800 (226 ) — — 3,974 Shinhan-Albatross Tech Investment Fund 2,672 6,000 (70 ) 306 — 8,908 Asia Pacific No.39 Ship Investment Co., Ltd. 4,682 (4,803 ) 121 — — — KCLAVIS Meister Fund No.17 3,039 — 44 — — 3,083 SG No.9 Corporate Recovery Private Equity Fund 3,963 (3,102 ) 566 — — 1,427 Plutus-SG 4,251 (132 ) 133 — — 4,252 SG ARGES Private Equity Fund No.1 6,422 (2,295 ) 214 — — 4,341 OST Progress- 2 Fund 4,895 (4,895 ) — — — — Eum Private Equity Fund No.3 4,925 (277 ) 241 — — 4,889 Richmond Private Yong in Retail Facility Real Estate Fund No.1 8,101 (10,286 ) 2,185 — — — KTB Confidence Private Placement 6,403 (389 ) 387 (1,099 ) — 5,302 Meritz AI-SingA330-A 6,757 (1,518 ) 193 — — 5,432 Meritz AI-SingA330-B 8,387 (305 ) 347 — — 8,429 Pine Asia Unsecured Individual Rehabilitation Bond Fund 18 6,012 (6,035 ) 23 — — — VOGO DEBT STRATEGY QUALIFIED INV PRIVATE R/E INV TR 4 1,638 3,060 133 — — 4,831 Platform Partners Brick Save Private Investment Trust 8,069 (496 ) 547 — — 8,120 Synergy-Shinhan Mezzanine New Technology Investment Fund 4,999 5,000 150 — — 10,149 The Asia Pacific Capital Fund II L.P. 7,307 (3,004 ) (656 ) 2,602 (5,849 ) 400 Shinhan Praxis K-Growth W 18,954 (7,473 ) 5,046 — — 16,527 Credian Healthcare Private Equity Fund II W 3,813 — 740 — — 4,553 Kiwoom Milestone Professional Private Real Estate Trust 19 10,408 (199 ) 210 — — 10,419 AIP EURO GREEN PRIVATE REAL ESTATE TRUST No.3 20,460 (1,253 ) 1,337 — — 20,544 Brain Professional Private Trust No.4 5,847 (1,274 ) 671 — — 5,244 Hanhwa US Equity Strategy Private Real Estate Fund No.1 25,479 (2,000 ) 2,753 — — 26,232 Brain KS Qualified Privately Placed Fund No.6 4,805 — 292 — — 5,097 M360 CRE Income Fund 153,905 (171,215 ) 6,183 11,127 — — Shinhan Global Healthcare Fund 1 3,407 — (122 ) — — 3,285 JB Power TL Investment Type Private Placement Special Asset Fund 7 18,690 (2,075 ) 869 — — 17,484 IBK AONE convertible 1 5,122 — 784 — — 5,906 Rico synergy collabo Multi-Mezzanine 5,026 — 264 — — 5,290 KB NA Hickory Private Special Asset Fund 34,091 (1,560 ) 1,829 — — 34,360 GB Professional Private Investment Trust 6 8,600 — (12 ) — — 8,588 Koramco Europe Core Private Placement Real Estate Fund No.2-2 20,760 (2,357 ) 213 — — 18,616 SHBNPP Private Korea Equity Long-Short Professional Feeder 4,861 9,412 97 — — 14,370 Shinhan-Stonebridge Petro PEF 19,201 (1,133 ) 613 — — 18,681 BNP Paribas Cardif General Insurance 4,429 — (1,026 ) 20 — 3,423 Axis Global Growth New Technology Investment Association 4,953 — (78 ) — — 4,875 Polaris No7 Start up and Venture Private Equity Fund 4,359 — (21 ) — — 4,338 Hermes Private Investment Equity Fund 17,497 (5,158 ) (5,274 ) — — 7,065 Shinhan AIM FoF Fund 1a — 4,125 226 — — 4,351 Daishin Heim Qualified Investor Private Investment Trust No.1808 — 9,786 340 — — 10,126 Heungkuk High Class Professional Trust Private Fund 37 — 9,178 260 — — 9,438 IGIS Global Credit Fund 150-1 — 8,529 367 — — 8,896 GX SHINHAN INTERVEST 1st Private Equity Fund — 34,900 (3,069 ) — — 31,831 Soo Commerce Platform Growth Fund W — 6,500 (122 ) — — 6,378 Partner One Value up I Private Equity Fund W — 12,000 (61 ) — — 11,939 Genesis No.1 Private Equity Fund — 46,068 (310 ) — — 45,758 GMB ICT New Technology Investment Fund — 8,000 (66 ) — — 7,934 Soo Delivery Platform Growth Fund — 9,000 (17 ) — — 8,983 Genesis North America Power Company No.1 PEF — 21,592 (768 ) — — 20,824 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 — 6,300 (96 ) — — 6,204 Others (*2) 52,855 37,442 1,550 2 — 91,849 W 631,294 17,617 17,488 10,780 (5,849 ) 671,330 (*1) The Group has stopped recognizing its equity method income or loss due to the investees’ cumulative loss. (*2) Included disposal by account reclassification involving non-cash 2019 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance BNP Paribas Cardif Life Insurance W 49,816 (373 ) (517 ) 3,660 — 52,586 Songrim Partners. (*1) — — — — — — Neoplux Technology Valuation Investment Fund 18,738 (1,661 ) (693 ) — — 16,384 Partners 4th Growth Investment Fund 16,612 (1,219 ) (476 ) — — 14,917 KTB Newlake Global Healthcare PEF 9,885 1,500 (105 ) — — 11,280 Daekwang Semiconductor Co., Ltd. 3,334 — 52 2 — 3,388 Shinhan-Neoplux Energy Newbiz Fund 3,974 4,200 (294 ) — — 7,880 Shinhan-Albatross tech investment Fund 8,908 — 132 (306 ) — 8,734 KCLAVIS Meister Fund No.17 3,083 (1,801 ) (84 ) — — 1,198 Plutus-SG 4,252 (132 ) 111 — — 4,231 SG ARGES Private Equity Fund No.1 4,341 (4,796 ) 455 — — — Eum Private Equity Fund No.3 4,889 (2,476 ) 1,161 — — 3,574 KTB Confidence Private Placement 5,302 (215 ) 980 — — 6,067 Meritz AI-SingA330-A 5,432 (1,266 ) 90 — — 4,256 Meritz AI-SingA330-B 8,429 242 245 — — 8,916 VOGO Debt Strategy Qualified INV Private R/E INV TR 4 4,831 4,820 279 — — 9,930 Platform Partners brick save Private Investment trust 8,120 (8,197 ) 77 — — — Shinhan-Midas Donga Secondary Fund 2,061 1,750 (325 ) — — 3,486 ShinHan – Soo Young Entrepreneur Investment Fund No.1 2,554 1,968 27 — — 4,549 Synergy-Shinhan Mezzanine New Technology Investment Fund 10,149 (6,492 ) 255 — — 3,912 Shinhan Praxis K-Growth 16,527 (8,745 ) 2,520 — — 10,302 Credian Healthcare Private Equity Fund II 4,553 (2,526 ) 350 — — 2,377 Kiwoom Milestone Professional Private Real Estate Trust 19 10,419 (241 ) 229 — — 10,407 AIP EURO Green Private Real Estate Trust No.3 20,544 (1,248 ) 1,588 — — 20,884 Brain Professional Private Trust No.4 5,244 (5,175 ) (69 ) — — — Hanhwa US Equity Strategy Private Real Estate Fund No.1 W 26,232 (1,866 ) 1,598 — — 25,964 Brain KS Qualified Privately Placed Fund No.6 W 5,097 (5,041 ) (56 ) — — — Shinhan Global Healthcare Fund 1 3,285 — (76 ) — — 3,209 JB Power TL Investment Type Private Placement Special Asset Fund 7 17,484 (1,513 ) 829 — — 16,800 IBK AONE convertible 1 5,906 — 171 — — 6,077 Rico synergy collabo Multi-Mezzanine 5,290 (2,501 ) 428 — — 3,217 KB NA Hickory Private Special Asset Fund 34,360 445 1,125 — — 35,930 GB Professional Private Investment Trust 6 8,588 (8,588 ) — — — — Koramco Europe Core Private Placement Real Estate Fund No.2-2 18,616 (1,458 ) 2,404 — — 19,562 SHBNPP Private Korea Equity Long-Short Professional Feeder 14,370 (14,325 ) (45 ) — — — Shinhan-Stonebridge Petro PEF 18,681 (19,589 ) 909 — — 1 BNP Paribas Cardif General Insurance 3,423 — (1,296 ) (14 ) — 2,113 Axis Global Growth New Technology Investment Association 4,875 (1,592 ) (78 ) — — 3,205 Polaris No7 Start up and Venture Private Equity Fund 4,338 (2,300 ) 265 — — 2,303 Hermes Private Investment Equity Fund 7,065 — (689 ) — — 6,376 SHC ULMUS Fund No.1 2,890 — 259 — — 3,149 Shinhan-Nvestor Liquidity Solution Fund 2,689 2,700 (524 ) — — 4,865 Shinhan AIM FoF Fund 1a 4,351 2,363 528 — — 7,242 Daishin Heim Qualified Investor Private Investment Trust No.1808 10,126 (10,297 ) 171 — — — Heungkuk High Class Professional Trust Private Fund 37 9,438 (9,505 ) 67 — — — IGIS Global Credit Fund 150-1 8,896 781 41 — — 9,718 GX Shinhan Intervest 1st Private Equity Fund 31,831 — 1,335 — — 33,166 Soo Commerce Platform Growth Fund 6,378 — (35 ) — — 6,343 Partner One Value up I Private Equity Fund 11,939 — (48 ) — — 11,891 Genesis No.1 Private Equity Fund 45,758 404 4,988 — — 51,150 GMB ICT New Technology Investment Fund 7,934 — (80 ) — — 7,854 Korea Omega Project Fund III W 1,992 — 1,024 — — 3,016 Soo Delivery Platform Growth Fund W 8,983 (171 ) 110 — — 8,922 Genesis North America Power Company No.1 PEF 20,824 (4,035 ) 1,486 — — 18,275 Hyungje art printing (*1) — — — — — — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 6,204 14,147 361 — — 20,712 Shinhan-Rhinos 1 Fund — 3,000 29 — — 3,029 Pacific Private Investment Trust No.20 — 3,819 257 — — 4,076 Susung Mezzanine project P1 Private Investment Trust — 4,000 1,128 — — 5,128 Korea Finance Security (*2) — 3,448 (213 ) — — 3,235 MIEL CO.,LTD (*3) — — — — — — AIP Transportation Specialized Privately Placed Fund Trust #1 — 31,136 444 — — 31,580 Lime Neptune Professional Private 6 — 5,000 63 — — 5,063 PCC S/W 2nd Fund — 3,000 1 — — 3,001 E&Healthcare Investment Fund No.6 — 7,030 746 — — 7,776 One Shinhan Global Fund 1 — 4,520 (79 ) — — 4,441 Kiwoom-Shinhan Innovation Fund I — 7,500 (216 ) — — 7,284 Daishin-K&T — 7,000 57 — — 7,057 Midas Asset Global CRE Debt Private Fund No.6 — 23,194 537 — — 23,731 Richmond Private Investment Trust No.82 — 14,569 551 — — 15,120 Tiger Alternative Real Estate Professional Private5 — 19,876 (56 ) — — 19,820 Samchully Midstream Private Placement Special Asset Fund 5-4 — 29,436 1,306 — — 30,742 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 — 52,048 1,783 — — 53,831 AUCTUS FITRIN Corporate Recovery Private Equity Fund — 14,250 108 — — 14,358 NH-Amundi — 17,769 728 — — 18,497 Pacific Private Real Estate Fund Investment Trust No.30 — 14,236 580 — — 14,816 Jarvis Memorial Private Investment Trust 1 W — 9,888 278 — — 10,166 Mastern Private Investment Trust 68 W — 9,764 235 — — 9,999 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 — 4,434 (37 ) — — 4,397 Milestone Private Real Estate Fund 3 (Derivative Type) — 17,016 170 — — 17,186 IGIS Private Real Estate Investment Trust 286 (2 class) — 10,100 (332 ) — — 9,768 Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) — 9,018 (104 ) — — 8,914 Lime Pricing Private Equity Fund — 8,400 (100 ) — — 8,300 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 — 39,376 2,615 — — 41,991 DS Solid.II Hedge Fund — 4,300 (177 ) — — 4,123 Hana Semiconductor New Technology Fund — 13,000 (144 ) — — 12,856 J&Magnet Startup Venture Specialized Private Equity Fund — 6,000 (21 ) — — 5,979 Cape IT Fund No.3 — 10,000 (33 ) — — 9,967 Vogo Realty Partners Private Real Estate Fund V — 10,611 (235 ) — — 10,376 IL GU FARM CO.,LTD — — — — — — Korea Credit Bureau (*2) — 4,500 2,312 — — 6,812 SBC PFV Co., Ltd — 20,000 — — — 20,000 Sprott Global Renewable Private Equity Fund II — 20,131 (1,115 ) — — 19,016 NH-amundi — 49,530 (1,372 ) — — 48,158 IMM Global Private Equity Fund — 28,945 (20 ) — — 28,925 HANA Alternative Estate Professional Private122 — 28,487 (2,282 ) — — 26,205 Hanwha-Incus Plus New Technology Fund No.1 — 5,500 (1 ) — — 5,499 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] — 51,293 — — — 51,293 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust — 146,045 4,272 — — 150,317 PSA EMP Private Equity Fund W — 10,000 (73 ) — — 9,927 Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 W — 28,314 1,149 — — 29,463 SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] — 5,727 — — — 5,727 SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] — 5,729 — — — 5,729 BRAIN DO PROFESSIONALE PRIVATE No. 27 — 3,000 65 — — 3,065 VISION US Muni US Local Debt Opportunities Professional Private1(S) — 9,500 369 — — 9,869 Others 81,490 (14,513 ) 18,954 — — 85,931 W 671,330 724,902 53,287 3,342 — 1,452,861 (*1) The Group has stopped recognizing its equity method income or loss due to the investees’ cumulative loss. (*2) Classified as investments in associates without cash transactions. (*3) No gains or losses from the equity method investees have been recognized after the acquisition of a debt-to-equity |
Condensed statement of financial position information of associates | (c) The statement of financial information as of and for the year ended December 31, 2018 and 2019 were as follows: 2018 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) BNP Paribas Cardif Life Insurance W 3,995,746 3,662,567 53,756 5,191 (10,268 ) (5,077 ) Neoplux Technology Valuation Investment Fund 57,018 804 390 (724 ) (1,969 ) (2,693 ) Partners 4th Growth Investment Fund 67,403 954 4,424 3,025 — 3,025 KTB Newlake Global Healthcare PEF 32,508 123 69 (793 ) — (793 ) DAEKWANG SEMICONDUCTOR CO., LTD. 25,459 9,537 15,794 (2,341 ) — (2,341 ) Shinhan-Neoplux Energy Newbiz Fund 17,347 315 19 (968 ) — (968 ) Shinhan-Albatross Tech Investment Fund 18,009 182 299 (435 ) 917 482 KCLAVIS Meister Fund No.17 11,866 47 398 167 — 167 SG No.9 Corporate Recovery Private Equity Fund 5,566 181 — 2,136 — 2,136 Plutus-SG 16,012 69 778 499 — 499 SG ARGES Private Equity Fund No.1 18,085 46 — 888 — 888 Eum Private Equity Fund No.3 23,552 5 1,667 1,311 — 1,311 KTB Confidence Private Placement 38,559 21,054 506 256 (3,629 ) (3,373 ) Meritz AI-SingA330-A 22,739 1 1,451 62 — 62 Meritz AI-SingA330-B 41,809 2 3,027 1,044 — 1,044 VOGO DEBT STRATEGY QUALIFIED INV PRIVATE R/E INV TR 4 24,174 15 3,046 1,165 — 1,165 Platform Partners brick save Private Investment trust 8,286 64 809 763 — 763 Synergy-Shinhan Mezzanine New Technology Investment Fund 21,312 — 553 331 — 331 The Asia Pacific Capital Fund II L.P. 1,674 86 1 (25,828 ) — (25,828 ) Shinhan Praxis K-Growth 87,897 307 31,059 26,381 — 26,381 Credian Healthcare Private Equity Fund II 13,408 47 2,364 2,171 — 2,171 Kiwoom Milestone Professional Private Real Estate Trust 19 57,678 36,839 3,383 422 — 422 AIP EURO GREEN PRIVATE REAL ESTATE TRUST No.3 96,624 86 18,700 6,287 — 6,287 Brain Professional Private Trust No.4 19,113 46 4,306 2,435 — 2,435 Hanhwa US Equity Strategy Private Real Estate Fund No.1 58,575 77 10,098 6,139 — 6,139 Brain KS Qualified Privately Placed Fund No.6 10,089 — 812 477 — 477 Shinhan Global Healthcare Fund 1 W 74,409 — 4 (2,757 ) — (2,757 ) JB Power TL Investment Type Private Placement Special Asset Fund 7 52,627 174 9,878 2,607 — 2,607 IBK AONE Convertible 1 12,807 307 2,042 1,660 — 1,660 Rico Synergy Collabo Multi-Mezzanine 3 10,736 161 686 529 — 529 KB NA Hickory Private Special Asset Fund 91,694 67 9,601 4,877 — 4,877 GB Professional Private Investment Trust 6 9,088 1 1 (13 ) — (13 ) Koramco Europe Core Private Placement Real Estate Fund No.2-2 44,491 2,202 6,470 878 — 878 SHBNPP Private Korea Equity Long-Short 77,465 10,728 18,729 728 — 728 Shinhan-Stonebridge Petro PEF 1,025,884 807 36,968 33,616 — 33,616 BNP Paribas Cardif General Insurance 51,211 16,986 10,972 (10,264 ) 196 (10,068 ) Axis Global Growth New Technology Investment Association 15,308 — 1 (245 ) — (245 ) Polaris No7 Start up and Venture Private Equity Fund 15,193 10 — (75 ) — (75 ) Hermes Private Investment Equity Fund 24,233 8 6 (18,025 ) — (18,025 ) Shinhan AIM FoF Fund 1a 17,478 11 3,004 342 — 342 Daishin Heim Qualified Investor Private Investment Trust No.1808 29,770 405 806 741 — 741 Heungkuk High Class Professional Trust Private Fund 37 20,523 1,646 1,045 1,005 — 1,005 IGIS Global Credit Fund 150-1 35,453 27 3,457 214 — 214 GX SHINHAN INTERVEST 1st Private Equity Fund 125,954 — 6 (12,146 ) — (12,146 ) Soo Commerce Platform Growth Fund 25,905 3 — (497 ) — (497 ) Partner One Value up I Private Equity Fund 42,776 — 326 (224 ) — (224 ) Genesis No.1 Private Equity Fund 201,103 434 — (1,360 ) — (1,360 ) GMB ICT New Technology Investment Fund 29,657 — 3 (242 ) — (242 ) Soo Delivery Platform Growth Fund 29,946 2 — (56 ) — (56 ) Genesis North America Power Company No.1 PEF 52,393 223 1 (1,922 ) — (1,922 ) SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 26,826 237 2 (411 ) — (411 ) (*) Excluded the associates’ financial information that are not subject to recognizing equity method income or loss or financial information is not available. 2019 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) BNP Paribas Cardif Life Insurance W 3,896,875 3,545,682 37,067 (3,919 ) 24,402 20,483 Neoplux Technology Valuation Investment Fund 49,890 738 3,953 (2,078 ) — (2,078 ) Partners 4th Growth Investment Fund 60,775 1,106 14 (1,904 ) — (1,904 ) KTB Newlake Global Healthcare PEF 37,187 151 387 (349 ) — (349 ) Daekwang Semiconductor Co., Ltd. 23,507 7,328 1,248 248 9 257 Shinhan-Neoplux Energy Newbiz Fund 33,791 18 26 (1,259 ) — (1,259 ) Shinhan-Albatross tech investment Fund 17,681 182 1,263 551 (917 ) (366 ) KCLAVIS Meister Fund No.17 4,689 96 425 (322 ) — (322 ) Plutus-SG 16,006 138 700 419 — 419 Eum Private Equity Fund No.3 17,243 27 6,305 5,604 — 5,604 KTB Confidence Private Placement 19,369 64 7,328 3,122 — 3,122 Meritz AI-SingA330-A 17,821 1 1,280 377 — 377 Meritz AI-SingA330-B 44,228 2 3,445 1,217 — 1,217 VOGO Debt Strategy Qualified INV Private R/E INV TR 4 49,683 33 4,198 1,391 — 1,391 Shinhan-Midas Donga Secondary Fund 6,973 1 88 (651 ) — (651 ) ShinHan – Soo Young Entrepreneur Investment Fund No.1 18,963 9 1,656 113 — 113 Synergy-Shinhan Mezzanine New Technology Investment Fund 8,266 51 834 535 — 535 Shinhan Praxis K-Growth 54,786 185 27,588 13,361 — 13,361 Credian Healthcare Private Equity Fund II 7,001 24 1,542 1,031 — 1,031 Kiwoom Milestone Professional Private Real Estate Trust 19 59,559 38,744 3,100 470 — 470 AIP EURO Green Private Real Estate Trust No.3 98,221 86 18,362 7,462 — 7,462 Hanhwa US Equity Strategy Private Real Estate Fund No.1 59,652 1,750 14,838 3,742 — 3,742 Shinhan Global Healthcare Fund 1 73,388 701 5,480 (1,722 ) — (1,722 ) JB Power TL Investment Type Private Placement Special Asset Fund 7 50,468 66 15,476 2,487 — 2,487 IBK AONE convertible 1 12,861 — 1,515 410 — 410 Rico synergy collabo Multi-Mezzanine 6,433 2 1,296 856 — 856 KB NA Hickory Private Special Asset Fund 96,289 476 16,132 2,489 — 2,489 Koramco Europe Core Private Placement Real Estate Fund No.2-2 46,742 2,304 9,328 5,462 — 5,462 Shinhan-Stonebridge Petro PEF W 1,388 1,350 52,928 49,878 — 49,878 BNP Paribas Cardif General Insurance 43,064 21,936 17,613 (12,962 ) (136 ) (13,098 ) Axis Global Growth New Technology Investment Association 10,064 — 1 (244 ) — (244 ) Polaris No7 Start up and Venture Private Equity Fund 8,113 52 1,037 928 — 928 Hermes Private Investment Equity Fund 21,954 95 45 (2,366 ) — (2,366 ) SHC ULMUS Fund No.1 10,706 — 1,073 881 — 881 Shinhan-Nvestor Liquidity Solution Fund 19,524 — 209 (2,101 ) — (2,101 ) Shinhan AIM FoF Fund 1a 28,987 20 5,556 2,111 — 2,111 IGIS Global Credit Fund 150-1 38,912 38 2,674 166 — 166 GX Shinhan Intervest 1st Private Equity Fund 131,237 — 6,689 5,283 — 5,283 Soo Commerce Platform Growth Fund 25,765 3 36 (140 ) — (140 ) Partner One Value up I Private Equity Fund 42,602 — 457 (173 ) — (173 ) Genesis No.1 Private Equity Fund 224,322 7 23,180 21,872 — 21,872 GMB ICT New Technology Investment Fund 29,359 — 2 (298 ) — (298 ) Korea Omega Project Fund III 12,818 — 4,432 4,351 — 4,351 Soo Delivery Platform Growth Fund 29,743 3 675 367 — 367 Genesis North America Power Company No.1 PEF 46,041 281 4,323 3,756 — 3,756 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 89,450 687 4,262 1,546 — 1,546 Shinhan-Rhinos 1 Fund 13,474 — 143 129 — 129 Pacific Private Investment Trust No.20 18,764 15 1,247 1,187 — 1,187 Susung Mezzanine project P1 Private Investment Trust 10,023 351 22 (91 ) — (91 ) Korea Finance Security 32,079 10,386 64,964 (1,297 ) — (1,297 ) AIP Transportation Specialized Privately Placed Fund Trust #1 94,437 6,042 12,473 1,242 — 1,242 Lime Neptune Professional Private 6 10,166 41 460 125 — 125 PCC S/W 2nd Fund 10,154 — 151 4 — 4 E&Healthcare Investment Fund No.6 38,181 2 4,405 3,664 — 3,664 One Shinhan Global Fund 1 22,244 — 92 (406 ) — (406 ) Kiwoom-Shinhan Innovation Fund I 14,719 151 13 (432 ) — (432 ) Daishin-K&T 55,686 33,103 1,292 183 — 183 Midas Asset Global CRE Debt Private Fund No.6 118,438 70 3,907 2,677 — 2,677 Richmond Private Investment Trust No.82 W 50,079 24,879 1,155 919 — 919 Tiger Alternative Real Estate Professional Private5 40,792 103 1,628 (116 ) — (116 ) Samchully Midstream Private Placement Special Asset Fund 5-4 71,680 55 14,423 3,015 — 3,015 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 269,203 48 8,854 8,289 — 8,289 AUCTUS FITRIN Corporate Recovery Private Equity Fund 67,222 218 1,187 449 — 449 NH-Amundi 61,696 39 7,404 2,427 — 2,427 Pacific Private Real Estate Fund Investment Trust No.30 39,779 270 1,817 1,547 — 1,547 Jarvis Memorial Private Investment Trust 1 10,279 12 293 281 — 281 Mastern Private Investment Trust 68 18,600 2 533 437 — 437 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 7,336 7 214 (61 ) — (61 ) Milestone Private Real Estate Fund 3 (Derivative Type) 53,610 3 603 532 — 532 IGIS Private Real Estate Investment Trust 286 (2 class) 75,372 51,870 2,838 (798 ) — (798 ) Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) 99,976 71,507 2,383 (331 ) — (331 ) Lime Pricing Private Equity Fund 32,231 118 10 (388 ) — (388 ) SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 197,536 119 12,963 12,296 — 12,296 DS Solid.II Hedge Fund 15,042 — 4 (605 ) — (605 ) Hana Semiconductor New Technology Fund 52,905 — 73 (595 ) — (595 ) J&Magnet Startup Venture Specialized Private Equity Fund 24,513 — — (87 ) — (87 ) Cape IT Fund No.3 30,333 35 — (101 ) — (101 ) Vogo Realty Partners Private Real Estate Fund V 47,992 34 281 (1,084 ) — (1,084 ) Korea Credit Bureau 95,764 20,075 66,314 10,604 — 10,604 SBC PFV Co., Ltd 120,000 40,000 — — — — Sprott Global Renewable Private Equity Fund II 82,721 3 1,416 (4,833 ) — (4,833 ) NH-amundi W 100,513 4,197 4,128 (2,744 ) — (2,744 ) IMM Global Private Equity Fund 90,870 63 — (63 ) — (63 ) HANA Alternative Estate Professional Private122 34,897 45 1,561 (3,035 ) — (3,035 ) Hanwha-Incus Plus New Technology Fund No.1 12,900 1 — (1 ) — (1 ) SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] 127,339 15,732 — — — — SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust 402,633 141,200 10,036 7,256 — 7,256 PSA EMP Private Equity Fund 34,535 285 1 (250 ) — (250 ) Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 57,088 728 2,735 2,198 — 2,198 SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] 22,926 641 — — — — SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] 23,865 1,329 — — — — BRAIN DO PROFESSIONALE PRIVATE No. 27 10,305 10 58 (5 ) — (5 ) VISION US Muni US Local Debt Opportunities Professional Private1(S) 39,175 80 1,440 1,088 — 1,088 (*) Excluded the associates’ financial information that are not subject to recognizing equity method income or loss or financial information is not available. |
Reconciliation of the financial information to the carrying values of its interests in the associates | (d) Reconciliation of the financial information to the carrying values of its interests in the associates as of December 31, 2018 and 2019 are as follows: 2018 Investees Net assets (a) Ownership (b) Interests in the net (a)*(b) Intra-group Other Carrying Value BNP Paribas Cardif Life Insurance W 333,179 14.99 49,952 (136 ) — 49,816 Daewontos Co., Ltd. (*1) (2,092 ) 36.33 (760 ) — 760 — Songrim Partners (*1) (23 ) 35.34 (8 ) — 8 — Neoplux Technology Valuation Investment Fund 56,214 33.33 18,738 — — 18,738 Partners 4th Growth Investment Fund 66,449 25.00 16,612 — — 16,612 JAEYANG INDUSTRY(*2) (2,571 ) 25.90 (666 ) — 666 — KTB Newlake Global Healthcare PEF (*2) 32,385 30.00 9,715 — 170 9,885 DAEKWANG SEMICONDUCTOR CO., LTD. 15,922 20.94 3,334 — — 3,334 Shinhan-Neoplux Energy Newbiz Fund 17,032 23.33 3,974 — — 3,974 Shinhan-Albatross Tech Investment Fund 17,827 50.00 8,908 — — 8,908 KCLAVIS Meister Fund No.17 11,819 26.09 3,083 — — 3,083 SG No.9 Corporate Recovery Private Equity Fund 5,385 26.49 1,427 — — 1,427 Plutus-SG 15,943 26.67 4,252 — — 4,252 SG ARGES Private Equity Fund No.1 18,039 24.06 4,341 — — 4,341 Eum Private Equity Fund No.3 23,547 20.76 4,889 — — 4,889 KTB Confidence Private Placement 17,505 30.29 5,302 — — 5,302 Meritz AI-SingA330-A 22,738 23.89 5,432 — — 5,432 Meritz AI-SingA330-B 41,807 20.16 8,429 — — 8,429 VOGO DEBT STRATEGY QUALIFIED INV PRIVATE R/E INV TR 4 24,159 20.00 4,831 — — 4,831 Platform Partners brick save Private Investment trust 8,222 98.77 8,120 — — 8,120 Synergy-Shinhan Mezzanine New Technology Investment Fund 21,312 47.62 10,149 — — 10,149 The Asia Pacific Capital Fund II L.P. 1,588 25.18 400 — — 400 Shinhan Praxis K-Growth 87,590 18.87 16,527 — — 16,527 Credian Healthcare Private Equity Fund II 13,361 34.07 4,553 — — 4,553 Kiwoom Milestone Professional Private Real Estate Trust 19 20,839 50.00 10,419 — — 10,419 AIP EURO GREEN PRIVATE REAL ESTATE TRUST No.3 96,538 21.28 20,544 — — 20,544 Brain Professional Private Trust No.4 19,067 27.50 5,244 — — 5,244 Hanhwa US Equity Strategy Private Real Estate Fund No.1 58,498 44.84 26,232 — — 26,232 Brain KS Qualified Privately Placed Fund No.6 10,089 50.00 5,097 — — 5,097 Shinhan Global Healthcare Fund 1 W 74,409 4.41 3,285 — — 3,285 JB Power TL Investment Type Private Placement Special Asset Fund 7 W 52,453 33.33 17,484 — — 17,484 IBK AONE Convertible 1 12,500 47.25 5,906 — — 5,906 Rico Synergy Collabo Multi-Mezzanine 10,575 50.03 5,290 — — 5,290 KB NA Hickory Private Special Asset Fund 91,627 37.50 34,360 — — 34,360 GB Professional Private Investment Trust 6 9,087 94.51 8,588 — — 8,588 Koramco Europe Core Private Placement Real Estate Fund No.2-2 42,289 44.02 18,616 — — 18,616 SHBNPP Private Korea Equity Long-Short Professional Feeder 66,737 21.52 14,370 — — 14,370 Shinhan-Stonebridge Petro PEF 1,025,077 1.82 18,681 — — 18,681 BNP Paribas Cardif General Insurance 34,225 10.00 3,423 — — 3,423 Axis Global Growth New Technology Investment Association 15,308 31.85 4,875 — — 4,875 Polaris No7 Start up and Venture Private Equity Fund 15,183 28.57 4,338 — — 4,338 Hermes Private Investment Equity Fund 24,225 29.17 7,065 — — 7,065 Shinhan AIM FoF Fund 1a 17,467 24.91 4,351 — — 4,351 Daishin Heim Qualified Investor Private Investment Trust No.1808 29,365 34.48 10,126 — — 10,126 Heungkuk High Class Professional Trust Private Fund 37 18,877 50.00 9,438 — — 9,438 IGIS Global Credit Fund 150-1 35,426 25.11 8,896 — — 8,896 GX SHINHAN INTERVEST 1st Private Equity Fund 125,954 25.27 31,831 — — 31,831 Soo Commerce Platform Growth Fund 25,902 24.62 6,378 — — 6,378 Partner One Value up I Private Equity Fund 42,776 27.91 11,939 — — 11,939 Genesis No.1 Private Equity Fund 200,669 22.80 45,758 — — 45,758 GMB ICT New Technology Investment Fund 29,657 26.75 7,934 — — 7,934 Soo Delivery Platform Growth Fund 29,944 30.00 8,983 — — 8,983 Genesis North America Power Company No.1 PEF 52,170 39.92 20,824 — — 20,824 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 26,589 23.33 6,204 — — 6,204 Others 315,179 — 91,483 — 366 91,849 W 3,476,038 — 669,496 (136 ) 1,970 671,330 (*1) Other adjustments represent the unrecognized equity method losses because the Group has stopped recognizing its equity method losses as the balance of the investment has been reduced to zero. (*2) Other on this investee represents the cumulative losses as the Group has stopped the equity method, and its carrying value becomes zero due to the adjustment for the difference between the cost of the investment and the Group’s interests in the net carrying value of the investee’s assets and liabilities at the investment date. (*3) Other represents the adjustments of fair value when acquired. 2019 Investees Net assets (a) Ownership Interests in the net (a)*(b) Intra-group Other Carrying Value BNP Paribas Cardif Life Insurance W 351,193 14.99 52,665 (79 ) — 52,586 Songrim Partners. (*1) (62 ) 35.34 (22 ) — 22 — Neoplux Technology Valuation Investment Fund 49,152 33.33 16,384 — — 16,384 Partners 4th Growth Investment Fund 59,669 25.00 14,917 — — 14,917 KTB Newlake Global Healthcare PEF (*2) 37,036 30.00 11,110 — 170 11,280 Daekwang Semiconductor Co., Ltd. 16,179 20.94 3,388 — — 3,388 Shinhan-Neoplux Energy Newbiz Fund 33,773 23.33 7,880 — — 7,880 Shinhan-Albatross tech investment Fund 17,499 50.00 8,734 — — 8,734 KCLAVIS Meister Fund No.17 4,593 26.09 1,198 — — 1,198 Plutus-SG 15,868 26.67 4,231 — — 4,231 Eum Private Equity Fund No.3 17,216 20.76 3,574 — — 3,574 KTB Confidence Private Placement 19,305 31.43 6,067 — — 6,067 Meritz AI-SingA330-A 17,820 23.89 4,256 — — 4,256 Meritz AI-SingA330-B 44,226 20.16 8,916 — — 8,916 VOGO Debt Strategy Qualified INV Private R/E INV TR 4 49,650 20.00 9,930 — — 9,930 Shinhan-Midas Donga Secondary Fund 6,972 50.00 3,486 — — 3,486 ShinHan – Soo Young Entrepreneur Investment Fund No.1 18,954 24.00 4,549 — — 4,549 Synergy-Shinhan Mezzanine New Technology Investment Fund 8,215 47.62 3,912 — — 3,912 Shinhan Praxis K-Growth 54,601 18.87 10,302 — — 10,302 Credian Healthcare Private Equity Fund II 6,977 34.07 2,377 — — 2,377 Kiwoom Milestone Professional Private Real Estate Trust 19 20,816 50.00 10,407 — — 10,407 AIP EURO Green Private Real Estate Trust No.3 98,135 21.28 20,884 — — 20,884 Hanhwa US Equity Strategy Private Real Estate Fund No.1 57,901 44.84 25,964 — — 25,964 Shinhan Global Healthcare Fund 1 72,687 4.41 3,209 — — 3,209 JB Power TL Investment Type Private Placement Special Asset Fund 7 50,402 33.33 16,800 — — 16,800 IBK AONE convertible 1 12,861 47.25 6,077 — — 6,077 Rico synergy collabo Multi-Mezzanine 6,431 50.03 3,217 — — 3,217 KB NA Hickory Private Special Asset Fund 95,813 37.50 35,930 — — 35,930 Koramco Europe Core Private Placement Real Estate Fund No.2-2 44,438 44.02 19,562 — — 19,562 Shinhan-Stonebridge Petro PEF W 38 1.82 1 — — 1 BNP Paribas Cardif General Insurance W 21,128 10.00 2,113 — — 2,113 Axis Global Growth New Technology Investment Association 10,064 31.85 3,205 — — 3,205 Polaris No7 Start up and Venture Private Equity Fund 8,061 28.57 2,303 — — 2,303 Hermes Private Investment Equity Fund 21,859 29.17 6,376 — — 6,376 SHC ULMUS Fund No.1 10,706 29.41 3,149 — — 3,149 Shinhan-Nvestor Liquidity Solution Fund 19,524 24.92 4,865 — — 4,865 Shinhan AIM FoF Fund 1a 28,967 25.00 7,242 — — 7,242 IGIS Global Credit Fund 150-1 38,874 25.00 9,718 — — 9,718 GX Shinhan Intervest 1st Private Equity Fund 131,237 25.27 33,166 — — 33,166 Soo Commerce Platform Growth Fund 25,762 24.62 6,343 — — 6,343 Partner One Value up I Private Equity Fund 42,602 27.91 11,891 — — 11,891 Genesis No.1 Private Equity Fund 224,315 22.80 51,150 — — 51,150 GMB ICT New Technology Investment Fund 29,359 26.75 7,854 — — 7,854 Korea Omega Project Fund III 12,818 23.53 3,016 — — 3,016 Soo Delivery Platform Growth Fund 29,740 30.00 8,922 — — 8,922 Genesis North America Power Company No.1 PEF 45,759 39.92 18,275 — — 18,275 Hyungje art printing (*1) (264 ) 31.54 (83 ) — 83 — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 88,763 23.33 20,712 — — 20,712 Shinhan-Rhinos 1 Fund 13,474 22.48 3,029 — — 3,029 Pacific Private Investment Trust No.20 18,749 21.74 4,076 — — 4,076 Susung Mezzanine project P1 Private Investment Trust 9,672 41.18 5,128 — — 5,128 Korea Finance Security 21,693 14.91 3,235 — — 3,235 MIEL CO.,LTD (*1) (119 ) 28.77 (34 ) — 34 — AIP Transportation Specialized Privately Placed Fund Trust #1 88,395 35.73 31,580 — — 31,580 Lime Neptune Professional Private 6 10,125 50.00 5,063 — — 5,063 PCC S/W 2nd Fund 10,154 29.56 3,001 — — 3,001 E&Healthcare Investment Fund No.6 38,179 20.37 7,776 — — 7,776 One Shinhan Global Fund 1 22,244 19.98 4,441 — — 4,441 Kiwoom-Shinhan Innovation Fund I 14,568 50.00 7,284 — — 7,284 Daishin-K&T 22,583 31.25 7,057 — — 7,057 Midas Asset Global CRE Debt Private Fund No.6 118,368 20.05 23,731 — — 23,731 Richmond Private Investment Trust No.82 25,200 60.00 15,120 — — 15,120 Tiger Alternative Real Estate Professional Private5 W 40,689 48.71 19,820 — — 19,820 Samchully Midstream Private Placement Special Asset Fund 5-4 W 71,625 42.92 30,742 — — 30,742 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 269,155 20.00 53,831 — — 53,831 AUCTUS FITRIN Corporate Recovery Private Equity Fund 67,004 21.43 14,358 — — 14,358 NH-Amundi 61,657 30.00 18,497 — — 18,497 Pacific Private Real Estate Fund Investment Trust No.30 39,509 37.50 14,816 — — 14,816 Jarvis Memorial Private Investment Trust 1 10,267 99.01 10,166 — — 10,166 Mastern Private Investment Trust 68 18,598 53.76 9,999 — — 9,999 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 7,329 60.00 4,397 — — 4,397 Milestone Private Real Estate Fund 3 (Derivative Type) 53,608 32.06 17,186 — — 17,186 IGIS Private Real Estate Investment Trust 286 (2 class) 23,502 41.56 9,768 — — 9,768 Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) 28,469 31.31 8,914 — — 8,914 Lime Pricing Private Equity Fund 32,113 25.85 8,300 — — 8,300 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 197,417 21.27 41,991 — — 41,991 DS Solid.II Hedge Fund 15,042 27.41 4,123 — — 4,123 Hana Semiconductor New Technology Fund 52,905 24.30 12,856 — — 12,856 J&Magnet Startup Venture Specialized Private Equity Fund 24,513 24.39 5,979 — — 5,979 Cape IT Fund No.3 30,298 32.89 9,967 — — 9,967 Vogo Realty Partners Private Real Estate Fund V 47,958 21.64 10,376 — — 10,376 IL GU FARM CO.,LTD (*1) (316 ) 28.47 (90 ) — 90 — Korea Credit Bureau 75,689 9.00 6,812 — — 6,812 SBC PFV Co., Ltd 80,000 25.00 20,000 — — 20,000 Sprott Global Renewable Private Equity Fund II 82,718 23.10 19,016 — — 19,016 NH-amundi 96,316 50.00 48,158 — — 48,158 IMM Global Private Equity Fund 90,807 31.85 28,925 — — 28,925 HANA Alternative Estate Professional Private122 34,853 75.19 26,205 — — 26,205 Hanwha-Incus Plus New Technology Fund No.1 12,899 42.64 5,499 — — 5,499 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] W 111,607 45.96 51,293 — — 51,293 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust W 261,433 57.50 150,317 — — 150,317 PSA EMP Private Equity Fund 34,250 28.99 9,927 — — 9,927 Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 56,360 52.28 29,463 — — 29,463 SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] 22,285 25.70 5,727 — — 5,727 SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] 22,536 25.42 5,729 — — 5,729 BRAIN DO PROFESSIONALE PRIVATE No. 27 10,295 29.13 3,065 — — 3,065 VISION US Muni US Local Debt Opportunities Professional Private1(S) 39,095 25.00 9,869 — — 9,869 Other 337,794 — 85,931 — — 85,931 W 4,951,196 — 1,452,541 (79 ) 399 1,452,861 (*1) Other adjustments represent the unrecognized equity method losses because the Group has stopped recognizing its equity method losses as the balance of the investment has been reduced to zero. (*2) Other represents the adjustments of fair value when acquired. (*3) Other represents the amount of preferred stock capital. |
The unrecognized and cumulative unrecognized equity method losses | (e) The unrecognized equity method losses as of and for the years ended December 31, 2018 and 2019 are as follows: 2018 Investees Unrecognized equity Cumulative unrecognized Daewontos Co., Ltd. (*) W — (760 ) JAEYANG INDUSTRY (*) — (18 ) Songlim Partners. (8 ) (8 ) Hyungje art printing (38 ) (38 ) W (824) 2019 Investees Unrecognized equity Cumulative unrecognized Songrim Partners. W (14 ) (22 ) Hyungje art printing (45 ) (83 ) MIEL CO.,LTD (34 ) (34 ) IL GU FARM CO.,LTD (90 ) (90 ) W (229) (*) Since the Group has disposed the investees fully or partially, the investees were excluded from the investments in associates. |
Investment properties, net (Tab
Investment properties, net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investment properties, net [Abstract] | |
Investment properties | (a) Investment properties as of December 31, 2018 and 2019 are as follows: 2018 2019 Acquisition cost W 579,852 605,773 Accumulated depreciation (105,032 ) (117,163 ) Carrying value W 474,820 488,610 |
Changes in investment properties | (b) Changes in investment properties for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Beginning balance W 418,303 474,820 Acquisitions 115,333 2,767 Disposals (13,608 ) (73,588 ) Depreciation (16,917 ) (17,565 ) Amounts transferred from (to) property and equipment (28,199 ) 104,573 Amounts transferred to assets held for sale (*) — (15,795 ) Foreign currency adjustment (92 ) (169 ) Business combination (Note 50) — 13,567 Ending balance W 474,820 488,610 (*) Comprise land and buildings, etc. |
Income and expenses on investment property | (c) Income and expenses on investment property for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Rental income W 33,023 32,488 43,777 Direct operating expenses for investment properties that generated rental income 10,998 12,191 12,107 |
The fair value of investment property | (d) The fair value of investment property as of December 31, 2018 and 2019 is as follows: 2018 2019 Land and buildings (*) W 1,121,985 1,062,195 (*) Fair value of investment properties is estimated based on the recent market transactions and certain significant unobservable inputs. Accordingly, fair value of investment properties is classified as level 3. |
Other assets, net (Tables)
Other assets, net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other assets, net [Abstract] | |
Other assets | Other assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Accounts receivable W 7,666,217 9,355,388 Domestic exchange settlement debit 6,121,332 4,337,628 Guarantee deposits 1,152,434 1,184,572 Present value discount on guarantee deposits (44,694 ) (45,316 ) Accrued income 1,896,822 2,612,823 Prepaid expense 194,040 193,849 Suspense payments 73,153 71,764 Sundry assets 92,221 93,766 Separate account assets 2,650,302 8,253,351 Advance payments 616,996 317,365 Unamortized deferred acquisition cost 786,134 907,868 Other 423,759 661,998 Allowances for credit loss of other assets (56,798 ) (66,775 ) W 27,878,281 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Finance lease receivables of the Group as lessor | (a) Finance lease receivables of the Group as lessor as of December 31, 2018 and 2019 are as follows: 2018 Gross investment Unearned finance Present value of Not later than 1 year W 595,427 85,333 510,094 1 ~ 5 years 1,306,571 106,333 1,200,238 Later than 5 years 16,529 38 16,491 W 1,918,527 191,704 1,726,823 2019 Gross investment Unearned finance Present value of Not later than 1 year W 529,326 94,809 434,517 1 ~ 2 years 443,708 63,226 380,482 2 ~ 3 years 469,754 37,725 432,029 3 ~ 4 years 289,798 16,773 273,025 4 ~ 5 years 150,811 4,225 146,586 Later than 5 years 16,782 44 16,738 W 1,900,179 216,802 1,683,377 (*) Interest income on finance lease receivables recognized during the year is W |
The scheduled maturities of minimum lease payments for operating leases of the Group as lessor | ii) Operating lease 2018 Minimum Not later than 1 year W 94,540 1 ~ 5 years 180,304 Later than 5 years 10 W 274,854 2019 Minimum Not later than 1 year W 142,140 1 ~ 2 years 118,781 2 ~ 3 years 76,379 3 ~ 4 years 37,047 4 ~ 5 years 14,984 Later than 5 years 83 W 389,414 |
The scheduled maturities of minimum lease payments of the Group as lessor | (b) The scheduled maturities of minimum lease payments for operating leases of the Group as lessor as of December 31, 2018 and 2019 are as follows: i) Finance lease 2018 Minimum lease Present value Present value of Not later than 1 year W 595,427 85,333 510,094 1 ~ 5 years 1,306,571 106,333 1,200,238 Later than 5 years 16,529 38 16,491 W 1,918,527 191,704 1,726,823 2019 Minimum lease Present value Present value of Not later than 1 year W 529,326 94,809 434,517 1 ~ 2 years 443,708 63,226 380,482 2 ~ 3 years 469,754 37,725 432,029 3 ~ 4 years 289,798 16,773 273,025 4 ~ 5 years 150,811 4,225 146,586 Later than 5 years 16,782 44 16,738 W 1,900,179 216,802 1,683,377 |
The changes in operating lease assets | (c) The details of the changes in operating lease assets for the year ended December 31, 2019 are as follows: 2019 Beginning balance W 370,868 Acquisition 411,971 Disposition (134,810 ) Depreciation (98,288 ) Ending balance W 549,741 |
The right-of-use assets by the lessee's underlying asset type | (d) The details of the right-of-use 2019 Acquisition Accumulated Carrying Real estate W 1,306,759 (228,956 ) 1,077,803 Vehicle 30,051 (8,057 ) 21,994 Others 20,396 (7,397 ) 12,999 W (244,410) 1,112,796 |
The changes in the right-of-use assets | (e) The details of the changes in the right-of-use 2019 Real estate Vehicle Others Total Beginning balance W 554,478 16,528 12,570 583,576 Acquisitions 781,097 16,523 8,163 805,783 Disposals (10,808 ) (1,638 ) (149 ) (12,595 ) Depreciation (280,691 ) (10,094 ) (7,753 ) (298,538 ) Effects of foreign currency movements 2,890 91 — 2,981 Business combination (Note 50) 30,837 584 168 31,589 Ending balance W 1,077,803 21,994 12,999 1,112,796 |
The maturity of the lease liability | (f) The details of the maturity of the lease liability as of December 31, 2019 are as follows: 2019 1 month 1 month ~ 3 months ~ 6 months ~ 1 year ~ More than Total Real estate W 20,967 34,357 47,644 86,228 848,699 28,973 1,066,868 Vehicle 1,378 1,542 2,178 4,108 14,410 — 23,616 Others 959 994 1,288 2,057 8,477 — 13,775 W 36,893 51,110 92,393 871,586 28,973 1,104,259 (*) The above amounts are based on undiscounted cash flows, and have been classified at the earliest maturity that the Group has the obligation to pay. |
The lease payments for low-value assets and short-term leases | (g) The lease payments for low-value 2019 Low-value W 5,045 Short-term lease (*) 907 Total W 5,952 (*) The payments less than 1 month are included. |
Pledged assets (Tables)
Pledged assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Pledged assets [Abstract] | |
Assets pledged as collateral | (a) Assets pledged as collateral as of December 31, 2018 and 2019 are as follows: 2018 2019 Loans Loans at amortized cost W 129,210 128,163 Securities Securities at FVTPL 11,533,107 15,016,057 Securities at FVOCI 1,372,746 2,387,555 Securities at amortized cost 10,670,253 12,791,744 23,576,106 30,195,356 Deposits Deposits at amortized cost 1,481,085 1,090,161 Property and Equipment (real estate) 154,490 121,446 Other financial assets — 404 W 25,340,891 31,535,530 The carrying amounts of assets pledged that the pledgees have the right to sell or re-pledge W W |
The fair value of collateral held that the Group has the right to sell or repledge regardless of pledger's default | (b) The fair value of collateral held that the Group has the right to sell or re-pledge 2018 Collateral held Assets pledged Assets received Securities W 7,342,239 5,190,387 2019 Collateral held Assets pledged Assets received Securities W 9,240,573 2,007,036 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Deposits [Abstract] | |
Deposits | Deposits as of December 31, 2018 and 2019 are as follows: 2018 2019 Demand deposits: Korean won W 94,210,806 103,048,895 Foreign currencies 11,950,027 13,233,812 106,160,833 116,282,707 Time deposits: Korean won 123,572,793 139,824,896 Foreign currencies 16,071,970 18,602,551 139,644,763 158,427,447 Negotiable certificates of deposits 9,247,088 9,707,791 Note discount deposits 4,087,530 4,579,587 CMA 4,084,709 3,987,372 Others 1,775,267 1,889,352 W 265,000,190 294,874,256 |
Financial liabilities at fair_2
Financial liabilities at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial liabilities at fair value through profit or loss [Abstract] | |
Financial liabilities at fair value through profit or loss | Financial liabilities at fair value through profit or loss as of December 31, 2018 and 2019 are as follows: 2018 2019 Securities sold: Stocks W 488,873 298,008 Bonds 440,382 825,942 Others 32,117 40,747 961,372 1,164,697 Gold deposits 458,934 467,760 W 1,420,306 1,632,457 |
Financial liabilities designa_2
Financial liabilities designated at fair value through profit or loss (IFRS9) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial liabilities designated at fair value through profit or loss (IFRS9) [Abstract] | |
Financial liabilities designated at fair value through profit or loss (IFRS9) | Financial liabilities designated at fair value through profit or loss as of December 31, 2018 and 2019 are as follows: 2018 2019 Reason for designation Equity-linked securities sold W 6,439,292 6,880,811 Combined instrument Securities sold with embedded derivatives 2,096,508 2,528,645 Combined instrument W 8,535,800 9,409,456 (*) The Group designated the financial liabilities at the initial recognition (or subsequently) in accordance with paragraph 6.7.1 of IFRS 9 as financial liabilities at fair value through profit or loss. Maximum credit risk exposure of the financial liabilities designated at fair value through profit or loss amounts to W W W (-)11,386 million |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Borrowings [Abstract] | |
Borrowings | Borrowings as of December 31, 2018 and 2019 are as follows: 2018 2019 Interest Amount Interest Amount Call money 0.00~6.85 W 1,425,162 0.00~ 5.25 W 712,247 Bill sold 0.75~1.70 14,536 0.80~ 1.60 19,070 Bonds sold under repurchase agreements: 0.50~6.50 7,614,659 0.95~ 5.40 9,089,736 Borrowings in Korean won: Borrowings from Bank of Korea 0.50~0.75 2,329,946 0.50~0.75 2,429,346 Others 0.00~4.25 12,108,741 0.00~6.00 14,202,096 14,438,687 16,631,442 Borrowings in foreign currencies: Overdraft due to banks 0.00 77,673 0.00 86,791 Borrowings from banks 0.00~12.00 4,653,055 0.11~7.50 6,576,849 Others 2.60~7.90 1,596,626 1.94~13.65 1,748,031 6,327,354 8,411,671 Deferred origination costs (1,856 ) (1,010 ) W 29,818,542 W 34,863,156 |
Debt securities issued (Tables)
Debt securities issued (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt securities issued [Abstract] | |
Debt securities issued | Debt securities issued as of December 31, 2018 and 2019 were as follows: 2018 2019 Interest Amount Interest Amount Debt securities issued in Korean won: Debt securities issued 0.00~8.00 W 50,661,472 0.71~8.00 W 60,501,093 Subordinated debt securities issued 2.20~4.60 4,400,145 2.20~4.60 4,370,145 Loss on fair value hedges (206,985 ) (87,692 ) Discount on debt securities issued (84,962 ) (66,334 ) 54,769,670 64,717,212 Debt securities issued in foreign currencies: Debt securities issued 0.20~4.01 6,278,680 0.01~7.59 6,750,085 Subordinated debt securities issued 3.75~5.00 2,271,799 3.34~5.10 3,797,536 Gain (Loss) on fair value hedges (55,251 ) 141,264 Discount on debt securities issued (37,199 ) (42,733 ) 8,458,029 10,646,152 W 63,227,699 W 75,363,364 |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Defined benefit plan assets and liabilities [Abstract] | |
Defined benefit plan assets and liabilities | Defined benefit obligations and plan assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Present value of defined benefit obligations W 1,841,982 2,063,102 Fair value of plan assets (1,714,634 ) (1,943,644 ) Recognized liabilities for defined benefit obligations (*) W 127,348 119,458 (*) The net defined benefit liability of W W W |
Changes in the present value of defined benefit obligation and plan assets | (b) Changes in the present value of defined benefit obligation and plan assets for the years ended December 31, 2018 and 2019 are as follows: 2018 Defined benefit Plan assets Net defined Beginning balance W 1,695,191 (1,688,047 ) 7,144 Included in profit or loss: Current service cost 144,923 — 144,923 Past service cost 54 — 54 Interest expense (income) 59,836 (66,676 ) (6,840 ) 204,813 (66,676 ) 138,137 Included in other comprehensive income: Remeasurement loss (gain): - Actuarial gains (losses) arising from : Demographic assumptions 18,399 — 18,399 Financial assumptions 79,038 — 79,038 Experience adjustment (10,762 ) — (10,762 ) - Return on plan assets excluding interest income — 41,701 41,701 86,675 41,701 128,376 Other: Benefits paid by the plan (142,938 ) 137,335 (5,603 ) Contributions paid into the plan — (139,348 ) (139,348 ) Settlement gain or loss 407 — 407 Effect of movements in exchange rates (1,273 ) — (1,273 ) Others (*2) (893 ) 401 (492 ) (144,697 ) (1,612 ) (146,309 ) Ending balance W 1,841,982 (1,714,634 ) 127,348 (*1) Profit or loss arising from defined benefit plans is included in general and administrative expenses. (*2) Others represent the change amounts due to the conversion to defined contribution. 2019 Defined benefit Plan assets Net defined Beginning balance W 1,841,982 (1,714,634 ) 127,348 Included in profit or loss: Current service cost 172,490 — 172,490 Past service cost (1,588 ) — (1,588 ) Interest expense (income) 57,253 (54,336 ) 2,917 Settlement expense (income) (29 ) — (29 ) 228,126 (54,336 ) 173,790 Included in other comprehensive income: Remeasurement loss (gain): - Actuarial gains (losses) arising from : Demographic assumptions (7,584 ) — (7,584 ) Financial assumptions 53,475 — 53,475 Experience adjustment 8,001 — 8,001 - Return on plan assets excluding interest income — 21,719 21,719 53,892 21,719 75,611 Other: Benefits paid by the plan (87,066 ) 80,063 (7,003 ) Contributions paid into the plan — (252,858 ) (252,858 ) Settlement gain or loss 216 — 216 Business combination (Note 50) 25,965 (23,598 ) 2,367 Effect of movements in exchange rates (13 ) — (13 ) (60,898 ) (196,393 ) (257,291 ) Ending balance W 2,063,102 (1,943,644 ) 119,458 (*) Profit and loss related to defined benefit plans are included in the general administrative expense. |
The composition of plan assets | (c) The composition of plan assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Plan assets comprise: Equity securities W 257,581 256,353 Debt securities 817 28,094 Due from banks 1,394,634 1,577,274 Other 61,602 81,923 W 1,714,634 1,943,644 |
Actuarial assumptions | (d) Actuarial assumptions as of December 31, 2018 and 2019 are as follows: 2018 2019 Description Discount rate 3.02%~3.22% 2.71%~3.17% AA0 corporate bond yields Future salary increase rate 0.99%~3.40% + Upgrade rate 1.80%~4.00% + Upgrade rate Average for 5 years Weighted average maturity 7.7 years ~ 9.9 years 8.2 years ~ 16.2 years |
Sensitivity analysis | (e) Sensitivity analysis As of December 31, 2018 and 2019, reasonably possible changes in one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below. 2018 Defined benefit obligation Increase Decrease Discount rate (1%p movement) W (159,549 ) 180,542 Future salary increase rate (1%p movement) 176,924 (159,169 ) 2019 Defined benefit obligation Increase Decrease Discount rate (1%p movement) W (201,770 ) 233,057 Future salary increase rate (1%p movement) 231,967 (204,242 ) |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Provisions [Abstract] | |
Provisions | (a) Provisions as of December 31, 2018 and 2019 are as follows: 2018 2019 Asset retirement obligations W 49,183 64,922 Expected loss related to litigation 25,554 8,789 Unused credit commitments 232,347 263,752 Financial guarantee contracts issued 115,325 100,430 Others 86,007 119,131 W 508,416 557,024 |
Changes in provisions for unused credit commitments and financial guarantee contracts issued | (b) Changes in provision for unused credit commitments and financial guarantee contracts issued for the years ended December 31, 2018 and 2019 are as follows:. 2018 Unused credit commitments Financial guarantee contracts issued Total 12 months Life time Impaired financial asset 12 months Life time Impaired Beginning allowance W 124,492 96,010 2,137 31,456 3,368 2,464 259,927 Transfer to 12 months expected credit loss 42,514 (42,057 ) (457 ) 1,140 (1,140 ) — — Transfer to life time expected credit loss (8,899 ) 8,976 (77 ) (1,804 ) 1,804 — — Transfer to impaired financial asset (213 ) (802 ) 1,015 (13 ) — 13 — Provided (reversed) (32,070 ) 38,576 2,519 (3,964 ) 455 (690 ) 4,826 FX change 578 105 — 758 481 449 2,371 Others (*) — — — 36,621 936 (479 ) 37,078 Ending balance W 126,402 100,808 5,137 64,194 5,904 1,757 304,202 (*) Others include effects of the provision from the new financial guarantee contracts measured at fair value, and the expired contracts, and the change of discount rate. 2019 Unused credit commitments Financial guarantee contracts issued Total 12 months Life time Impaired financial asset 12 months Life time Impaired Beginning allowance W 126,402 100,808 5,137 64,194 5,904 1,757 304,202 Transfer to 12 months expected credit loss 42,838 (42,728 ) (110 ) 2,629 (2,629 ) — — Transfer to life time expected credit loss (9,286 ) 9,314 (28 ) (1,245 ) 1,245 — — Transfer to impaired financial asset (229 ) (752 ) 981 (12 ) — 12 — Provided (reversed) (28,611 ) 53,076 5,905 (4 ) 96 (943 ) 29,519 FX change 914 121 — 1,302 323 102 2,762 Others (*) — — — 1,603 630 (117 ) 2,116 Ending balance W 132,028 119,839 11,885 68,467 5,569 811 338,599 (*) Others include effects of the provision from the new financial guarantee contracts measured at fair value, and the expired contracts, and the change of discount rate. |
Changes in provisions | (c) Changes in provisions for the years ended December 31, 2018 and 2019 are as follows: 2018 Asset Litigation Guarantee Other Total Beginning balance (*1) W 45,495 32,650 46,340 75,512 199,997 Provision (reversal) 4,789 (1,138 ) (2,833 ) 4,900 5,718 Provision used (4,210 ) (6,343 ) — (7,554 ) (18,107 ) Foreign exchange translation — 385 1,677 (1,006 ) 1,056 Others (*2) 3,109 — (1,714 ) 14,155 15,550 Ending balance W 49,183 25,554 43,470 86,007 204,214 (*1) In accordance with IFRS 15, the Group has adjusted all bonus card point reward program related to customer loyalty programs. (*2) Others include the effects of unwinding and changes in discount rate. 2019 Asset Litigation Guarantee Other Total Beginning balance W 49,183 25,554 43,470 86,007 204,214 Provision (reversal) (1,280 ) (981 ) (19,329 ) (5,753 ) (27,343 ) Provision used (1,930 ) (17,365 ) — (47,217 ) (66,512 ) Foreign exchange translation — — 1,420 382 1,802 Others (*) 4,476 — 22 3,784 8,282 Business combination (Note 50) 14,473 1,581 — 81,928 97,982 Ending balance W 64,922 8,789 25,583 119,131 218,425 (*) Others include the effects of unwinding and changes in discount rate. |
Allowance for guarantees and acceptances | (e) Allowance for guarantees and acceptances as of December 31, 2018 and 2019 are as follows: 2018 2019 Guarantees and acceptances outstanding W 9,437,691 9,317,412 Contingent guarantees and acceptances 3,985,532 3,669,681 ABS and ABCP purchase commitments 2,083,522 2,116,354 Endorsed bill 37,667 11,287 W 15,544,412 15,114,734 Allowance for loss on guarantees and acceptances W 115,325 100,430 Ratio % 0.74 0.66 |
Liability under insurance con_2
Liability under insurance contracts (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Insurance liabilities [Abstract] | |
Insurance liabilities | (a) Insurance liabilities as of December 31, 2018 and 2019 are as follows: 2018 2019 Policy reserve W 26,211,044 52,086,132 Policyholder’s equity adjustment 7,838 77,285 W 26,218,882 52,163,417 |
Policy reserve | (b) Policy reserve as of December 31, 2018 and 2019 are as follows: 2018 2019 Interest rate linked W 17,328,353 30,058,020 Fixed interest rate 8,882,691 22,028,112 W 26,211,044 52,086,132 |
The details of policy reserves | (c) The details of policy reserves as of December 31, 2018 and 2019 are as follows: 2018 Individual insurance Group insurance Pure Death Endowment Subtotal Pure Savings Subtotal Total Premium reserve W 5,729,045 11,722,964 7,482,084 24,934,093 24,422 58 24,480 24,958,573 Guarantee reserve 10,148 64,978 124 75,250 — — — 75,250 Unearned premium reserve 3 301 — 304 506 — 506 810 Reserve for outstanding claims 99,676 837,317 185,328 1,122,321 18,089 — 18,089 1,140,410 Interest rate difference guarantee reserve 2,068 148 11 2,227 — — — 2,227 Mortality gains reserve 7,026 4,741 176 11,943 3 — 3 11,946 Interest gains reserve 18,662 254 19 18,935 — — — 18,935 Long term duration dividend reserve 52 9 1 62 — — — 62 Reserve for policyholder’s profit dividend 1,773 — — 1,773 — — — 1,773 Reserve for losses on dividend insurance contract 1,058 — — 1,058 — — — 1,058 W 5,869,511 12,630,712 7,667,743 26,167,966 43,020 58 43,078 26,211,044 2019 Individual insurance Group insurance Pure endowment Death Endowment Subtotal Pure Savings Subtotal Total Premium reserve W 14,668,777 24,979,936 10,443,287 50,092,000 21,912 60 21,972 50,113,972 Guarantee reserve 29,400 249,845 744 279,989 — — — 279,989 Unearned premium reserve 2 945 — 947 291 — 291 1,238 Reserve for outstanding claims 212,641 1,084,472 233,259 1,530,372 16,858 — 16,858 1,547,230 Interest rate difference guarantee reserve 2,158 149 10 2,317 — — — 2,317 Mortality gains reserve 8,945 42,173 153 51,271 2 — 2 51,273 Interest gains reserve 24,486 267 17 24,770 — — — 24,770 Expense gains reserve 6,211 9,434 1 15,646 — — — 15,646 Long term duration dividend reserve 31,202 15,388 13 46,603 — — — 46,603 Reserve for policyholder’s profit dividend 2,268 — — 2,268 — — — 2,268 Reserve for losses on dividend insurance contract 826 — — 826 — — — 826 W 14,986,916 26,382,609 10,677,484 52,047,009 39,063 60 39,123 52,086,132 |
Reinsurance credit risk | (d) Reinsurance credit risk as of December 31, 2018 and 2019 are as follows: 2018 2019 Reinsurance Reinsurance Reinsurance Reinsurance AAA W — — 11,477 18,192 AA- 2,451 4,416 34,498 46,302 A- 1,622 3,598 2,287 4,113 W 4,073 8,014 48,262 68,607 |
Income or expenses on insurance | (e) Income or expenses on insurance for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Insurance income: Premium income W 4,550,277 4,348,745 7,386,854 Reinsurance income 10,532 15,222 146,564 Separate account income 38,999 34,771 36,007 4,599,808 4,398,738 7,569,425 Insurance expenses: Claims paid 2,213,285 2,549,147 5,436,069 Reinsurance premium expenses 13,220 18,482 165,979 Provision for policy reserves (*) 2,147,139 1,694,716 1,724,816 Separate account expenses 38,999 34,770 36,007 Discount charge 632 669 657 Acquisition costs 543,752 454,479 805,508 Collection expenses 15,716 16,046 19,049 Deferred acquisition costs (336,851 ) (283,665 ) (495,534 ) Amortization of deferred acquisition costs 423,955 385,793 373,800 5,059,847 4,870,437 8,066,351 Net loss on insurance W (460,039 ) (471,699 ) (496,926 ) (*) Interest expenses on savings insurance contracts are included. (Accumulated W W W |
Maturity of premium reserve | (f) Maturity of premium reserve as of December 31, 2018 and 2019 are as follows: 2018 Less than 1 ~ 3 3 ~ 7 7 ~ 10 10 ~ 20 More than Total Fixed interest rate W 111,102 247,619 741,222 502,572 1,288,815 5,284,548 8,175,878 Interest rate linked 195,843 922,832 1,247,871 343,562 1,500,893 12,571,694 16,782,695 Ending balance W 306,945 1,170,451 1,989,093 846,134 2,789,708 17,856,242 24,958,573 2019 Less than 1 ~ 3 3 ~ 7 7 ~ 10 10 ~ 20 More than Total Fixed interest rate W 845,304 2,079,125 2,118,652 941,413 2,236,313 20,732,908 28,953,715 Interest rate linked 213,892 329,647 1,032,366 572,153 2,058,859 16,953,340 21,160,257 Ending balance W 1,059,196 2,408,772 3,151,018 1,513,566 4,295,172 37,686,248 50,113,972 |
The result of liability adequacy test | (g) Liability adequacy test, LAT – Shinhan Life Insurance Co., Ltd. iv) The result of liability adequacy test as of December 31, 2018 and 2019 are as follows: 2018 Provisions for test LAT base (*) Premium loss Participating: Fixed interest W 589,618 1,322,481 732,863 Variable interest 859,858 939,791 79,933 1,449,476 2,262,272 812,796 Non- Fixed interest 6,009,771 2,822,160 (3,187,611 ) Variable interest 14,149,581 12,037,953 (2,111,628 ) 20,159,352 14,860,113 (5,299,239 ) W 21,608,828 17,122,385 (4,486,443 ) (*) It is recalculated in accordance with the revised discount rate calculation rules for the year December 31, 2019. 2019 Provisions for test LAT base Premium loss Participating: Fixed interest W 595,317 1,248,489 653,172 Variable interest 900,378 1,002,149 101,771 1,495,695 2,250,638 754,943 Non- Fixed interest 6,608,221 3,079,715 (3,528,506 ) Variable interest 14,563,065 12,340,762 (2,222,303 ) 21,171,286 15,420,477 (5,750,809 ) W 22,666,981 17,671,115 (4,995,866 ) (h) Liability adequacy test, LAT – Orange Life Insurance Co., Ltd. iv) The result of liability adequacy test as of December 31, 2019 are as follows: 2019 Provisions for test LAT base Premium Participating: Fixed interest W 716,607 644,715 (71,892 ) Variable interest 1,134,245 1,541,967 407,722 1,850,852 2,186,682 335,830 Non- Fixed interest 9,296,542 4,629,266 (4,667,276 ) Variable interest 9,236,731 8,635,022 (601,709 ) Variable type (*) (268,818 ) (1,882,573 ) (1,613,755 ) 18,264,455 11,381,715 (6,882,740 ) W 20,115,307 13,568,397 (6,546,910 ) (*) Variable type refers to a variable insurance. |
Sensitivity analysis, LAT | (g) Liability adequacy test, LAT – Shinhan Life Insurance Co., Ltd. v) Sensitivity analysis as of December 31, 2018 and 2019 are as follows: LAT fluctuation 2018 (*) 2019 Discount rate increased by 0.5% W (1,610,988 ) (1,582,746 ) Discount rate decreased by 0.5% 1,938,357 1,906,134 Operating expense increased by 10% 229,339 292,246 Mortality rate increased by 10% 837,453 873,184 Mortality rate increased by 5% 420,774 438,685 Surrender ratio increased by 10% 291,806 373,062 (*) It is recalculated in accordance with the revised discount rate calculation rules for the year December 31, 2019. (h) Liability adequacy test, LAT – Orange Life Insurance Co., Ltd. v) Sensitivity analysis as of December 31, 2019 is as follows: LAT fluctuation 2019 Discount rate increased by 0.5% W (1,203,136 ) Discount rate decreased by 0.5% 1,686,867 Operating expense increased by 10% 245,181 Mortality rate increased by 10% 877,624 Mortality rate increased by 5% 440,025 Surrender ratio increased by 10% 421,767 |
Other liabilities (Tables)
Other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other liabilities [Abstract] | |
Other liabilities | Other liabilities as of December 31, 2018 and 2019 are as follows: 2018 2019 Lease liabilities W — 1,104,259 Accounts payable 9,748,168 11,894,764 Accrued expenses 3,267,188 3,502,538 Dividend payable 49,486 31,599 Advance receipts 131,386 173,850 Unearned income 236,827 294,710 Withholding value-added tax and other taxes 547,097 720,053 Securities deposit received 651,153 1,903,119 Foreign exchange remittances pending 225,956 243,532 Domestic exchange remittances pending 1,115,939 1,452,955 Borrowing from trust account 2,999,445 5,350,285 Due to agencies 779,473 744,660 Deposits for subscription 76,019 60,500 Separate account liabilities 2,845,380 8,700,695 Sundry liabilities 2,496,169 1,968,823 Other 50,881 151,056 Present value discount (20,888 ) (59,840 ) W 25,199,679 38,237,558 (*) As of December 31, 2019, the Group accounts for the lease liabilities as other liabilities. During the year ended December 31, 2019, the amount of variable lease payments that are not included in the measurement of lease liabilities is W W W |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Equity | (a) Equity as of December 31, 2018 and 2019 are as follows: 2018 2019 Capital stock: Common stock W 2,370,998 2,370,998 Preferred stock (*1) 274,055 361,465 2,645,053 2,732,463 Hybrid bond 1,531,759 1,731,235 Capital surplus: Share premium (*1) 9,494,769 10,155,150 Others 400,719 410,203 9,895,488 10,565,353 Capital adjustments (*2) (552,895 ) (1,116,770 ) Accumulated other comprehensive income, net of tax: Gain on financial assets at fair value through other comprehensive income 2,958 306,470 Gain(Loss) on financial assets at fair value through profit or loss (overlay approach) (79,057 ) 71,621 Equity in other comprehensive income of associates 4,883 8,177 Foreign currency translation adjustments for foreign operations (321,853 ) (217,465 ) Net loss from cash flow hedges (17,751 ) (33,711 ) Other comprehensive income of separate account 4,112 14,539 Actuarial losses (346,682 ) (401,532 ) Changes in own credit risk on financial liabilities designated under fair value option 170 (8,255 ) (753,220 ) (260,156 ) Retained earnings (*3),(*4),(*5) 22,959,440 25,525,821 Non-controlling 925,805 2,752,435 W 36,651,430 41,930,381 (*1) For the year ended December 31, 2019, W (*2) The Group acquired treasury stocks through a treasury stock trust for the years ended December 31, 2018 and 2019 and has recognized the consideration paid in equity, directly. The Group entered into a shareholders’ agreement to acquire additional shares in the Asia Trust Co., Ltd., resulting in decrease of W (*3) As of December 31, 2018 and 2019, profits reserved by the Group as of Article 53 of the Financial Holding Companies Act amounted to W W (*4) As of December 31, 2018 and 2019, the regulatory reserves for loan losses the Group appropriated in retained earnings are W W (*5) As of December 31, 2019, profit dividends within retained earnings of subsidiaries of the Group subject to a restricted dividend in accordance with laws, etc. are amounted to W (*6) As of December 31, 2018 and 2019, the total amounts of hybrid bonds that Shinhan Bank, Jeju Bank and Shinhan Capital have recognized as non-controlling W W W W non-controlling (*7) The non-controlling W |
Capital stock of the Group | (b) Capital stock Capital stock of the Group as of December 31, 2018 and 2019 are as follows: Number of authorized shares 1,000,000,000 Par value per share in won W 5,000 Number of issued common stocks outstanding 474,199,587 Number of issued preferred stocks outstanding as of December 31,2019 17,482,000 |
Hybrid bond | (c) Hybrid bonds Hybrid bonds classified as other equity instruments as of December 31, 2018 and December 31, 2019 are as follows: Issue date Currency Maturity date Interest rate (%) 2018 2019 June 25, 2015 KRW June 25, 2045 4.38 W 199,455 199,455 September 15, 2017 ” — 3.77 134,683 134,683 September 15, 2017 ” — 4.25 89,783 89,783 April 13, 2018 ” — 4.08 134,678 134,678 April 13, 2018 ” — 4.56 14,955 14,955 August 29, 2018 ” — 4.15 398,679 398,679 June 28, 2019 ” — 3.27 — 199,476 August 13, 2018 USD — 5.88 559,526 559,526 W 1,531,759 1,731,235 The Group can make advanced redemption for the above bonds, after 5 or 10 years from the issuance date; and has unconditional rights to extend the maturity under the same condition. In addition, if the determination has been made that dividend is not paid for common shares, then the interest for the above bonds is also not paid. |
Capital adjustments | (d) Capital adjustments Changes in capital adjustments for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Beginning balance W (398,035 ) (552,895 ) Acquisition of stocks (155,923 ) (444,077 ) The Acquisition commitment amount for subsidiaries’ remaining shares — (125,830 ) Other transactions with owners 1,063 6,032 Ending balance W (552,895 ) (1,116,770 ) |
Changes in accumulated other comprehensive income | (e) Accumulated other comprehensive income Changes in accumulated other comprehensive income for the years ended December 31, 2018 and 2019 are as follows: 2018 Items that are or may be reclassified to profit or loss Items that will never be reclassified to profit or loss Total Gain (loss) on Gain (loss) on Equity in Foreign Net gain Other Remeasure Equity in Gain (loss) on Gain (loss) on Beginning balance W (211,003 ) (24,724 ) (2,516 ) (342,318 ) 2,441 (4,564 ) (253,995 ) (46 ) 31,533 (1,553 ) (806,745 ) Change due to fair value 225,173 (74,942 ) (2,327 ) — — 11,967 — 39 25,077 2,376 187,363 Reclassification: Change due to impairment or disposal 15,812 — 13,103 — — — — — — — 28,915 Effect of hedge accounting — — — — (92,272 ) — — — — — (92,272 ) Hedging (2,365 ) — — (35,879 ) 60,501 — — — — — 22,257 Effects from exchange rate fluctuations 1,733 — — 45,904 — — — — 423 — 48,060 Remeasurements of the defined benefit plans — — — — — — (128,139 ) — — — (128,139 ) Deferred income taxes (79,345 ) 20,609 (3,369 ) 9,958 11,579 (3,291 ) 35,041 (11 ) (5,410 ) (653 ) (14,892 ) Transfer to other account — — — — — — — 10 2,635 — 2,645 Non-controlling (1,305 ) — — 482 — — 411 — — — (412 ) Ending balance W (51,300 ) (79,057 ) 4,891 (321,853 ) (17,751 ) 4,112 (346,682 ) (8 ) 54,258 170 (753,220 ) 2019 Items that are or may be reclassified to profit or loss Items that will never be reclassified to profit or loss Total Gain (loss) on Gain (loss) on Equity in Foreign Net gain Other Remeasure Equity in Gain (loss) on Gain (loss) on Beginning balance W (51,300 ) (79,057 ) 4,891 (321,853 ) (17,751 ) 4,112 (346,682 ) (8 ) 54,258 170 (753,220 ) Change due to fair value 491,953 225,706 3,353 — — 14,382 — (11 ) 19,935 (11,621 ) 743,697 Reclassification: Change due to impairment or disposal (23,281 ) — — — — — — — — — (23,281 ) Effect of hedge accounting — — — — (75,020 ) — — — — — (75,020 ) Hedging (731 ) — — (49,361 ) 50,083 — — — — — (9 ) Effects from exchange rate fluctuations — — — 147,899 — — — — 293 — 148,192 Remeasurements of the defined benefit plans — — — — — — (75,595 ) — — — (75,595 ) Deferred income taxes (115,856 ) (62,739 ) (51 ) 7,233 6,348 (3,955 ) 20,951 3 (7,204 ) 3,196 (152,074 ) Transfer to other account — — — — — — — — 5,860 — 5,860 Non-controlling (67,457 ) (12,289 ) — (1,383 ) 2,629 — (206 ) — — — (78,706 ) Ending balance W 233,328 71,621 8,193 (217,465 ) (33,711 ) 14,539 (401,532 ) (16 ) 73,142 (8,255 ) (260,156 ) |
Appropriation of retained earnings | (f) Appropriation of retained earnings Statements of appropriation of retained earnings for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Date of appropriation: March 27, 2019 March 26, 2020 Unappropriated retained earnings: Balance at beginning of year W 4,867,521 5,184,339 Net effect due to change in accounting policy (23 ) — Dividend to hybrid bonds (40,357 ) (61,993 ) Net income 1,234,883 1,129,173 6,062,024 6,251,519 Appropriation of retained earnings: Legal reserve (123,488 ) (112,917 ) Dividends Dividends on common stocks paid (753,041 ) (851,587 ) Dividends on preferred stocks paid — (32,342 ) Regulatory reserve for loan losses (1,156 ) (3,260 ) (877,685 ) (1,000,106 ) Unappropriated retained earnings to be carried over to subsequent year W 5,184,339 5,251,413 (*) These statements of appropriation of retained earnings are based on the separate financial statements of Shinhan Finance Group. |
Changes in regulatory reserve for loan losses including non-controlling interests | i) Changes in regulatory reserve for loan losses including non-controlling 2018 2019 Beginning balance W 2,885,018 2,844,690 IFRS 9 adoption (388,551 ) — Business combination — 25,608 Planned regulatory reversal of loan losses 348,223 290,872 Ending balance W 2,844,690 3,161,170 |
Profit attributable to equity holders of Shinhan Financial Group and earnings per share after factoring in regulatory reserve for loan losses | ii) Profit attributable to equity holders of Shinhan Financial Group and earnings per share after factoring in regulatory reserve for loan losses for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Profit attributable to equity holders of Shinhan Financial Group W 3,156,722 3,403,497 Provision for regulatory reserve for loan losses (*1) (348,127 ) (292,728 ) Profit attributable to equity holders of Shinhan Financial Group adjusted for regulatory reserve W 2,808,595 3,110,769 Basic and diluted earnings per share adjusted for regulatory reserve in won (*2) 5,844 6,387 (*1) The increase in reserve for credit losses, W (*2) Dividends for hybrid bonds are deducted. |
Acquisition of treasury stock | (h) Treasury stock The acquisitions of treasury stock as of December 31, 2018 and 2019 are as follows: 2018 Beginning balance Acquisition Ending balance The number of share — 3,648,659 3,648,659 Carrying value W — 155,923 155,923 2019 Beginning balance Acquisition Ending balance The number of share 3,648,659 10,233,403 13,882,062 Carrying value W 155,923 444,077 600,000 (*) The Group entered into a treasury stock trust agreement with Samsung Securities Co., Ltd., and acquired treasury stocks. |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Dividends [Abstract] | |
Details of dividends recognized as distributions to stockholders | (a) Details of dividends recognized as distributions to stockholders for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 (*1) Common Stock Total number of shares issued and outstanding W 474,199,587 474,199,587 Par value per share in won 5,000 5,000 Dividend per share in won 1,600 1,850 Dividends (*2) W 753,041 851,587 Dividend rate per share % 32.0 37.0 Preferred Stock Total number of shares issued and outstanding W — 17,482,000 Par value per share in won — 5,000 Dividend per share in won — 1,850 Dividends W — 32,342 Dividend rate per share % — 37.0 (*1) The dividend is the amount of dividend that will be paid on March 26, 2020 and is not recognized as a distribution to the owners during the year. (*2) Dividends on own shares held by the Group are excluded. |
Dividend for hybrid bond | (b) Dividend for hybrid bond was calculated as follows for the years ended December 31, 2018 and 2019: 2018 2019 Amount of hybrid bond W 1,538,150 1,738,150 Interest rate % 3.77 ~ 5.88 3.27 ~ 5.88 Dividend W 40,357 61,993 |
Net interest income (Tables)
Net interest income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Details of Net interest income [Abstract] | |
Net interest income | Net interest income for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Interest income: Cash and due from banks W 167,793 — — Cash and deposits at amortized cost — 155,075 210,415 Deposits at FVTPL — 33,845 31,506 Trading assets 489,836 — — Financial assets designated at fair value through profit or loss 57,899 — — Securities at FVTPL — 623,651 740,378 Securities at FVOCI — 759,301 1,077,995 Securities at amortized cost — 730,382 1,061,262 Available-for-sale 671,912 — — Held-to-maturity 651,107 — — Loans 9,673,635 — — Loans at amortized cost — 11,158,558 12,435,302 Loans at FVTPL — 23,110 56,961 Others 86,472 88,534 93,543 11,798,654 13,572,456 15,707,362 Interest expense: Deposits (2,482,415 ) (3,091,659 ) (3,644,632 ) Borrowings (352,069 ) (468,068 ) (551,416 ) Debt securities issued (1,085,366 ) (1,336,840 ) (1,666,257 ) Others (35,851 ) (95,800 ) (107,093 ) (3,955,701 ) (4,992,367 ) (5,969,398 ) Net interest income W 7,842,953 8,580,089 9,737,964 |
Net fees and commission income
Net fees and commission income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Details of Net fees and commission income [Abstract] | |
Net fees and commission income | Net fees and commission income for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Fees and commission income: Credit placement fees W 59,133 62,766 66,666 Commission received as electronic charge receipt 142,755 146,309 151,584 Brokerage fees 373,108 412,165 353,382 Commission received as agency 129,460 120,508 140,484 Investment banking fees 66,191 91,273 151,031 Commission received in foreign exchange activities 197,705 214,395 244,325 Asset management fees 190,802 235,275 307,167 Credit card fees 2,369,745 1,360,322 1,234,239 Operating lease fees (*) 28,033 82,141 142,025 Others 488,023 570,102 766,110 4,044,955 3,295,256 3,557,013 Fees and commission expense: Credit-related fee (35,665 ) (36,817 ) (42,023 ) Credit card fees (1,988,826 ) (944,533 ) (915,521 ) Others (309,510 ) (374,909 ) (458,950 ) (2,334,001 ) (1,356,259 ) (1,416,494 ) Net fees and commission income W 1,710,954 1,938,997 2,140,519 (*) Among operating lease fees recognized during the current period, there is no variable lease fee income which does not vary by index or rate. |
Dividend income (Tables)
Dividend income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Details of Dividend income [Abstract] | |
Dividend income | Dividend income for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Securities at FVTPL W — 70,955 65,572 Trading assets 57,615 — — Securities at FVOCI — 16,871 16,586 Available-for-sale 199,691 — — W 257,306 87,826 82,158 |
Net gain (loss) on financial _4
Net gain (loss) on financial instruments measured at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net gain (loss) on financial instruments measured at fair value through profit or loss [Abstract] | |
Net gain (loss) on financial instruments measured at fair value through profit or loss | 34. Net gain (loss) on financial instruments measured at fair value through profit or loss Net gain (loss) on financial instruments measured at fair value through profit or loss for the ended December 31, 2018 and 2019 are as follows: 2018 2019 Net gain (loss) on deposits measured at FVTPL Gain (loss) on valuation W (61,848 ) 87,374 Gain on sale — 13,400 (61,848 ) 100,774 Net gain (loss) on loans measured at FVTPL Gain (loss) on valuation 916 (248,032 ) Gain on sale 9,133 10,395 10,049 (237,637 ) Net gain (loss) on securities measured at FVTPL Debt securities Gain on valuation 111,029 137,181 Gain on sale 78,718 125,431 Other gains 223,731 297,024 413,478 559,636 Equity securities Gain on valuation 286,801 141,246 Gain (loss) on sale (275,356 ) 183,969 11,445 325,215 Other Gain on valuation 19,086 28,803 Net gain (loss) on financial liabilities measured at FVTPL Debt securities Loss on valuation (115,667 ) (16,810 ) Gain (loss) on disposition 268,932 (35,710 ) 153,265 (52,520 ) Other Loss on valuation (14,892 ) (91,025 ) Gain on disposition 1,394 4,169 (13,498 ) (86,856 ) Derivatives Gain (loss) on valuation (291,879 ) 388,880 Gain on transaction 179,928 359,187 (111,951 ) 748,067 W 420,026 1,385,482 |
Net trading income (loss) (Tabl
Net trading income (loss) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net trading income (loss) [Abstract] | |
Net trading income (loss) | Net trading income (loss) for the year ended December 31, 2017 are as follows: 2017 Trading assets: Debt securities: Loss on valuation W (90,442 ) Gain (loss) on sale (93,528 ) (183,970 ) Equity securities: Gain on valuation 187,442 Gain on sale 128,118 315,560 Other: Gain (loss) on valuation 5,782 Trading liabilities: Debt securities: Gain (loss) on valuation (138,134 ) Gain (loss) on disposition (20,610 ) (158,744 ) Other: Gain (loss) on valuation 260 Gain on disposition 2,440 2,700 Derivatives: Gain (loss) on valuation 369,225 Gain on transaction 612,670 981,895 W 963,223 |
Net gain (loss) on financial _5
Net gain (loss) on financial instruments designated at fair value through profit or loss(IFRS9) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net gain (loss) on financial instruments designated at fair value through profit or loss(IFRS9) [Abstract] | |
Net gain (loss) on financial instruments designated at fair value through profit or loss(IFRS9) | Net gain (loss) on financial instruments designated at fair value through profit or loss for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Financial assets designated at fair value through profit or loss: Equity securities: Loss on sale W (4,737 ) — Financial liabilities designated at fair value through profit or loss: Borrowings: Gain (loss) on valuation 382,667 (33,871 ) Loss on sale and redemption (404,573 ) (812,175 ) W (26,643 ) (846,046 ) |
Net gain (loss) on financial _6
Net gain (loss) on financial instruments designated at fair value through profit or loss(IAS39) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net gain (loss) on financial instruments designated at fair value through profit or loss(IAS39) [Abstract] | |
Net gain (loss) on financial instruments designated at fair value through profit or loss(IAS39) | Net gain (loss) on financial instruments designated at fair value through profit or loss for the year ended December 31, 2017 were as follows: 2017 Financial assets designated at fair value through profit or loss: Other securities: Gain on valuation W 13,020 Debt securities: Gain (loss) on valuation (65,475 ) Gain on sale and redemption 11,673 (53,802 ) Equity securities: Dividend income 51 Loss on valuation (78,633 ) Gain on sale 5,622 (72,960 ) Financial liabilities designated at fair value through profit or loss: Other securities: Gain (loss) on valuation — Loss on disposal and redemption (43 ) (43 ) Borrowings: Gain (loss) on valuation (100,685 ) Loss on disposal and redemption (845,356 ) (946,041 ) W (1,059,826 ) |
Provision for allowance for c_2
Provision for allowance for credit loss (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Provision for allowance for credit loss [Abstract] | |
Provision for allowance for credit loss | Provision for allowance for credit loss on financial assets for the years ended December 31, 2018 and 2019 are as follows: 2018 2019 Loans at amortized cost W (704,515 ) (910,898 ) Other financial assets at amortized cost (24,070 ) (33,945 ) Securities at fair value through other comprehensive income (12,066 ) (5,787 ) Others (unused credit line and financial guarantee, etc) (4,826 ) (29,519 ) Securities at amortized cost (2,400 ) (543 ) W (747,877 ) (980,692 ) |
Net impairment loss on financ_2
Net impairment loss on financial assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net impairment loss on financial assets [Abstract] | |
Net impairment loss on financial assets | Net impairment loss on financial assets for the year ended December 31, 2017 were as follows: 2017 (*) Impairment losses on: Loans W (799,577 ) Available-for-sale (202,360 ) Other financial assets (15,672 ) (1,017,609 ) Reversal of impairment losses on: Available-for-sale 4,061 W (1,013,548 ) (*) As the acquisition of ANZ Retail business by Shinhan Bank of Vietnam was completed, the amount was adjusted retrospectively. |
General and administrative ex_2
General and administrative expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
General and Administrative Expense [Abstract] | |
General and administrative expenses | General and administrative expenses for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Employee benefits: Salaries W 2,668,224 2,736,604 2,918,065 Severance benefits: Defined contribution 21,040 23,745 35,972 Defined benefit 173,080 133,749 168,732 Termination benefits 285,158 115,275 122,732 3,147,502 3,009,373 3,245,501 Entertainment 29,039 30,442 36,931 Depreciation 173,541 171,771 479,657 Amortization 66,860 73,575 99,208 Taxes and dues 165,689 176,133 197,691 Advertising 271,819 287,688 265,739 Research 14,093 13,928 17,742 Others 942,655 978,665 792,205 W 4,811,198 4,741,575 5,134,674 |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based payments [Abstract] | |
Stock options granted | (a) Stock options granted as of December 31, 2019 are as follows: 5th grant (*1) 6th grant (*1) 7th grant (*1)(*2) Type Cash payment Cash payment Cash payment Grant date March 21, 2006 March 20, 2007 March 19, 2008 Exercise price in won W W W Number of shares granted 3,296,200 1,301,050 808,700 Options expiry dates August 21, 2019 August 19, 2020 May 17, 2021/ September 17,2021 Changes in number of shares granted: Balance at January 1, 2019 2,500 58,764 45,628 Exercised and cancelled 2,500 — 9,466 Balance at December 31, 2019 — 58,764 36,162 W (Expiration of exercise period : Fair value per share in won — W 88 W (Expiration of exercise period : Sep 17, 2021) (*1) The weighted average exercise price for 94,926 stock options outstanding at December 31, 2019 is W (*2) As of December 31, 2019, the exercise of the remaining for 9,466 stock options (7th grant) was cancelled. |
Performance shares granted | (b) Performance shares granted as of December 31, 2019 are as follows: Expired Not expired Type Cash-settled share-based payment Performance conditions Increase rate of the stock price and achievement of target ROE Operating period 4 or 5 years Estimated number of shares vested at December 31, 2019 20,427 2,074,713 Fair value per share in won W W W W W for the expiration of W The amount of cash payment for the Group’s cash-settled share-based payment arrangements with performance conditions is determined at the fourth anniversary date from the grant date based on the share price which is an arithmetic mean of weighted average share prices of the past two-months, one-month one-week. |
Share-based compensation costs | (c) Share-based compensation costs for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 Employees of The controlling The subsidiaries Total Stock options granted: 4th W 67 413 480 5th 48 757 805 6th 26 159 185 7th 83 120 203 Performance share 1,782 15,717 17,499 W 2,006 17,166 19,172 2018 Employees of The controlling The subsidiaries Total Stock options granted: 4th W — (14 ) (14 ) 5th — (19 ) (19 ) 6th (23 ) (139 ) (162 ) 7th (59 ) (86 ) (145 ) Performance share 1,154 9,768 10,922 W 1,072 9,510 10,582 2019 Employees of The controlling The subsidiaries Total Stock options granted: 5th W — 9 9 6th (3 ) (15 ) (18 ) 7th (5 ) (6 ) (11 ) Performance share 4,678 32,646 37,324 W 4,670 32,634 37,304 |
Accrued expenses and the intrinsic value | (d) Accrued expenses and the intrinsic value as of December 31, 2018 and 2019 are as follows: 2018 Accrued expenses (*) The controlling The subsidiaries Total Stock options granted: 5th W — 7 7 6th 3 20 23 7th 24 33 57 Performance share 7,328 61,790 69,118 W 7,355 61,850 69,205 (*) The intrinsic value of share-based payments is W W 2019 Accrued expenses (*) The controlling The subsidiaries Total Stock options granted: 6th W 1 4 5 7th 19 27 46 Performance share 10,003 81,352 91,355 W 10,023 81,383 91,406 (*) The intrinsic value of share-based payments is W W |
Net other operating expense (Ta
Net other operating expense (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net other operating expense [Abstract] | |
Net other operating expense | Other operating income and other operating expense for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Other operating income Gain on sale of assets: Loans W 50,707 — — Loans at amortized cost — 40,624 18,298 Others: Gain on hedged items 634,695 418,390 564,438 Reversal of allowance for acceptances and guarantee — 2,834 19,329 Gain on trust account 14 — 27 Reversal of other allowance 286,932 5,033 11,194 Others 82,375 131,345 97,777 1,004,016 557,602 692,765 1,054,723 598,226 711,063 Other operating expense Loss on sale of assets: Loans (8,394 ) — — Loans at amortized cost — (14,271 ) (27,291 ) Others: Loss on hedged items (629,754 ) (406,872 ) (596,533 ) Contribution (252,419 ) (283,331 ) (311,336 ) Provision for acceptances and guarantee allowance (2,548 ) — — Provision for other allowance (12,133 ) (13,036 ) (6,939 ) Depreciation of operating lease assets (12,943 ) (56,570 ) (98,288 ) Others (599,524 ) (653,501 ) (857,918 ) (1,509,321 ) (1,413,310 ) (1,871,014 ) (1,517,715 ) (1,427,581 ) (1,898,305 ) Net other operating expenses W (462,992 ) (829,355 ) (1,187,242 ) |
Net other non-operating income
Net other non-operating income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net other non-operating income [Abstract] | |
Net other non-operating income | Other non-operating non-operating 2017 2018 2019 Other non-operating Gain on disposal of assets: Property and equipment (*) W 5,278 12,611 1,452 Investment property 219 4,783 12,640 Assets held for sale 22,748 — — Lease assets 605 1,153 1,681 Right-of-use — — 1,112 Others 125 — 407 28,975 18,547 17,292 Gain on disposal of Investments in associates 8,891 17,427 3,461 Others: Rental income on investment property 33,023 32,488 43,777 Reversal of impairment losses on intangible asset 91 62 438 Gain from assets contributed 1,067 77 86 Others 67,535 49,276 82,879 101,716 81,903 127,180 139,582 117,877 147,933 Other non-operating Loss on disposal of assets: Property and equipment (*) (2,642 ) (3,082 ) (870 ) Investment property (1,627 ) (2,958 ) — Lease assets (1,282 ) (3,964 ) (3,221 ) Right-of-use — — (306 ) Others (149 ) (3 ) — (5,700 ) (10,007 ) (4,397 ) Loss on disposal of investments in associates (1,332 ) (11,546 ) (3,974 ) Impairment loss on investments in associates (144 ) (5,849 ) — (1,476 ) (17,395 ) (3,974 ) Others: Donations (140,243 ) (88,650 ) (94,937 ) Depreciation of investment properties (16,095 ) (16,917 ) (17,565 ) Impaired loss on property and equipment (16 ) — — Impaired loss on intangible assets (271 ) (771 ) (152,081 ) Write-off (1,210 ) (1,537 ) (9,221 ) Collecting of written-off (7,162 ) (6,048 ) (7,322 ) Others (20,220 ) (26,844 ) (46,465 ) (185,217 ) (140,767 ) (327,591 ) (192,393 ) (168,169 ) (335,962 ) Net other non-operating W (52,811 ) (50,292 ) (188,029 ) (*) Gains or losses on sale and leaseback transactions are included in gains or losses on disposal of property and equipment respectively, and there are no gains or losses recognized on sale and leaseback transactions for the year ended December 31, 2019 |
Income tax expense (Tables)
Income tax expense (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income tax expense [Abstract] | |
Income tax expense | (a) Income tax expense for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 (*) 2018 2019 Current income tax expense W 726,384 896,755 1,115,724 Temporary differences 46,468 383,190 296,244 Income tax recognized in other comprehensive income 75,551 (11,600 ) (142,844 ) Income tax expenses W 848,403 1,268,345 1,269,124 (*) As the acquisition of ANZ Retail business by Shinhan Bank of Vietnam was completed, the amount was adjusted retrospectively. |
Income tax expense calculated by multiplying net income before tax with the tax rate | (b) Income tax expense calculated by multiplying net income before tax with the tax rate for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 (*) 2018 2019 Profit before income taxes W 3,797,608 4,466,610 4,911,508 Income taxes at statutory tax rates 917,802 1,222,840 1,345,187 Adjustments: Non-taxable (33,879 ) (9,561 ) 8,500 Non-deductible 12,772 12,854 18,461 Tax credit (195 ) (23,317 ) (2,289 ) Changes in deferred tax due to change in tax rate (72,985 ) — — Other 24,888 65,529 (100,735 ) Income tax expense W 848,403 1,268,345 1,269,124 Effective tax rate % 22.34 28.40 25.84 (*) As the acquisition of ANZ Retail business by Shinhan Bank of Vietnam was completed, the amount was adjusted retrospectively. |
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences | (c) Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences for the years ended December 31, 2018 and 2019 are as follows: 2018 Beginning Profit or Other Ending Unearned income W (202,069 ) (53,267 ) — (255,336 ) Account receivable (19,267 ) (4,872 ) — (24,139 ) Financial assets at fair value through profit or loss (47,548 ) 79,000 16,825 48,277 Securities at fair value through other comprehensive income 307,729 (47,548 ) (82,823 ) 177,358 Investment in associates 24,918 3,205 (3,380 ) 24,743 Valuation and depreciation of property and equipment (163,313 ) 1,317 — (161,996 ) Derivative asset (liability) (70,828 ) 171,000 11,579 111,751 Deposits 27,904 132 — 28,036 Accrued expenses 171,310 (38,621 ) — 132,689 Defined benefit obligation 408,266 6,965 32,427 447,658 Plan assets (411,935 ) (37,117 ) 2,729 (446,323 ) Other provisions 191,298 3,177 — 194,475 Allowance for acceptances and guarantees 23,929 5,228 — 29,157 Allowance related to asset revaluation (52,886 ) 3,173 — (49,713 ) Allowance for expensing depreciation (529 ) 64 — (465 ) Deemed dividend 5,317 (5,317 ) — — Accrued contributions 11,904 9,807 — 21,711 Financial instruments designated at fair value through profit of loss (7,194 ) (80,214 ) — (87,408 ) Allowances 131,222 (82,438 ) — 48,784 Fictitious dividend 4,990 (3,665 ) — 1,325 Liability under insurance contracts 18,105 4,488 — 22,593 Deficit carried over 1,505 (1,505 ) — — Other 59,471 (296,190 ) 11,043 (225,676 ) 412,299 (363,198 ) (11,600 ) 37,501 Expired unused tax losses: Extinguishment of deposit and insurance liabilities 375,807 (8,363 ) — 367,444 W 788,106 (371,561 ) (11,600 ) 404,945 (*1) Changes in the scope of application of IFRS 9 and 15 have been reflected. (*2) Deferred tax assets from overseas subsidiaries were increased by W 2019 Beginning Business Profit or Other Ending Unearned income W (255,336 ) (62,077 ) (14,266 ) — (331,679 ) Account receivable (24,139 ) — (2,185 ) — (26,324 ) Financial assets at fair value through profit or loss 48,277 9,284 (20,972 ) (56,654 ) (20,065 ) Securities at fair value through other comprehensive income 177,358 (554,017 ) 425,491 (130,344 ) (81,512 ) Investment in associates 24,743 — (5,937 ) (48 ) 18,758 Valuation and depreciation of property and equipment (161,996 ) — 10,950 — (151,046 ) Derivative asset (liability) 111,751 (1,132 ) (97,147 ) 7,533 21,005 Deposits 28,036 — 2,605 — 30,641 Accrued expenses 132,689 15,298 (2,493 ) — 145,494 Defined benefit obligation 447,658 4,805 33,321 20,348 506,132 Plan assets (446,323 ) (4,610 ) (57,165 ) 958 (507,140 ) Other provisions 194,475 2,283 16,297 — 213,055 Allowance for acceptances and guarantees 29,157 42,234 8,623 — 80,014 Allowance related to asset revaluation (49,713 ) — — — (49,713 ) Allowance for expensing depreciation (465 ) — 64 — (401 ) Deemed dividend — — — — — Accrued contributions 21,711 — 15,107 — 36,818 Financial instruments designated at fair value through profit of loss (87,408 ) — 130,225 — 42,817 Allowances 48,784 — (10,716 ) — 38,068 Fictitious dividend 1,325 — 16 — 1,341 Liability under insurance contracts 22,593 — 1,554 — 24,147 Deficit carried over — — — — — Other (225,676 ) 204,351 (537,808 ) 15,363 (543,770 ) 37,501 (343,581 ) (104,436 ) (142,844 ) (553,360 ) Expired unused tax losses: Extinguishment of deposit and insurance liabilities 367,444 — (47,433 ) — 320,011 W 404,945 (343,581 ) (151,869 ) (142,844 ) (233,349 ) (*) Deferred tax assets from overseas subsidiaries were increased by W |
Deferred tax assets and liabilities that were directly charged or credited to equity | (d) Deferred tax assets and liabilities that were directly charged or credited to equity for the years ended December 31, 2018 and 2019 are as follows: January 1, 2018 Changes December 31, 2018 OCI Tax effect OCI Tax effect OCI Tax effect Gain (loss) on valuation of financial assets measured at FVOCI W (255,593 ) 76,124 267,306 (84,878 ) 11,713 (8,754 ) Gain (loss) on financial liabilities measured at FVTPL attributable to changes in credit risk (2,141 ) 588 2,376 (653 ) 235 (65 ) Foreign currency translation adjustments for foreign operations (317,264 ) (25,054 ) 10,498 9,967 (306,766 ) (15,087 ) Gain (loss) on cash flow hedge 7,286 (4,845 ) (31,771 ) 11,578 (24,485 ) 6,733 Equity in other comprehensive income of associates (5,868 ) 3,306 10,825 (3,380 ) 4,957 (74 ) The accumulated other comprehensive income in separate account (*) (6,295 ) 1,731 11,967 (3,291 ) 5,672 (1,560 ) Remeasurements of the defined benefit liability (349,538 ) 95,543 (127,844 ) 35,157 (477,382 ) 130,700 Gain (loss) on valuation of financial asset measured at FVTPL (Overlay approach) (33,713 ) 8,988 (74,942 ) 20,609 (108,655 ) 29,597 Income tax charged or credited directly to equity W (963,126 ) 156,381 68,415 (14,891 ) (894,711 ) 141,490 January 1, 2019 Changes December 31, 2019 OCI Tax effect OCI Tax effect OCI Tax effect Gain (loss) on valuation of financial assets measured at FVOCI W 11,713 (8,754 ) 427,657 (124,147 ) 439,370 (132,901 ) Gain (loss) on financial liabilities measured at FVTPL attributable to changes in credit risk 235 (65 ) (11,621 ) 3,196 (11,386 ) 3,131 Foreign currency translation adjustments for foreign operations (306,766 ) (15,087 ) 98,418 5,970 (208,348 ) (9,117 ) Gain (loss) on cash flow hedge (24,485 ) 6,733 (23,492 ) 7,533 (47,977 ) 14,266 Equity in other comprehensive income of associates 4,957 (74 ) 3,343 (48 ) 8,300 (122 ) The accumulated other comprehensive income in separate account (*) 5,672 (1,560 ) 14,382 (3,955 ) 20,054 (5,515 ) Remeasurements of the defined benefit liability (477,382 ) 130,700 (76,156 ) 21,306 (553,538 ) 152,006 Gain (loss) on valuation of financial asset measured at FVTPL (Overlay approach) (108,655 ) 29,597 207,333 (56,654 ) 98,678 (27,057 ) Income tax charged or credited directly to equity W (894,711 ) 141,490 639,864 (146,799 ) (254,847 ) (5,309 ) (*) Deferred tax effects, which are originated from the accumulated other comprehensive income in separate account, were included in the other liabilities of separate account’s financial statement. |
The amount of deductible temporary differences, unused tax losses, and unused tax credits that are not recognized as deferred tax assets | (e) The amount of deductible temporary differences, unused tax losses, and unused tax credits that are not recognized as deferred tax assets as of December 31, 2018 and 2019 are as follows: 2018 2019 Tax loss carry forward W 99,449 — |
The amount of temporary difference regarding investment in subsidiaries that are not recognized as deferred tax liabilities | (f) The amount of temporary difference regarding investment in subsidiaries that are not recognized as deferred tax liabilities as of December 31, 2018 and 2019 are as follows: 2018 2019 Investment in associates W (686,107 ) (766,888 ) |
Deferred tax assets and liabilities presented on a gross basis prior to any offsetting | (g) The Group set off a deferred tax asset against a deferred tax liability of the same taxable entity if, and only if, they relate to income taxes levied by the same taxation authority and the entity has a legally enforceable right to set off current tax assets against current tax liabilities. Deferred tax assets and liabilities presented on a gross basis prior to any offsetting as of December 31, 2018 and 2019 are as follows: 2018 2019 Deferred tax assets W 483,517 518,337 Deferred tax liabilities (78,572 ) (751,686 ) |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings per share [Abstract] | |
Earnings per share | Basic and diluted earnings per share for the years ended December 31, 2017, 2018 and 2019 are as follows: 2017 (*2) 2018 2019 Profit attributable to equity holders of Shinhan Financial Group W 2,918,816 3,156,722 3,403,497 Less: Dividends to hybrid bond (17,678 ) (40,357 ) (61,993 ) Net profit available for common stock W 2,901,138 3,116,365 3,341,504 Weighted average number of common shares outstanding (*1) 474,199,587 473,649,076 477,346,731 Basic and diluted earnings per share in won W 6,118 6,579 7,000 (*1) The number of basic ordinary shares outstanding is 474,199,587 shares and the above weighted-average stocks are calculated by reflecting treasury stocks issued and 17,482,000 shares of convertible preferred shares issued on May 1, 2019. If the convertible preferred shares issued during the year are not included in common stocks, the basic and diluted earnings per share of the net profit of the Group is W (*2) As the acquisition of ANZ Retail business by Shinhan Bank of Vietnam was completed, the amount was adjusted retrospectively. |
Commitments and contingencies (
Commitments and contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and contingencies [Abstract] | |
Guarantees, acceptances and credit commitments | (a) Guarantees, acceptances and credit commitments as of December 31, 2018 and 2019 are as follows: 2018 2019 Guarantees: Guarantees outstanding W 9,437,691 9,319,885 Contingent guarantees 3,985,532 3,669,697 13,423,223 12,989,582 Commitments to extend credit: Loan commitments in won 69,906,336 74,393,722 Loan commitments in foreign currency 19,967,297 22,542,776 ABS and ABCP commitments 2,083,522 2,116,354 Others 73,816,233 81,387,165 165,773,388 180,440,017 Endorsed bills: Secured endorsed bills 37,667 11,287 Unsecured endorsed bills 7,758,242 6,737,097 7,795,909 6,748,384 Loans sold with recourse 2,099 2,099 W 186,994,619 200,180,082 |
Legal contingencies | (b) Legal contingencies The Group’s pending lawsuits as a defendant as of December 31, 2019 are as follows: Case Number of Descriptions Claim amount Payment Guarantee 1 The plaintiff filed claims against the Group for guarantee deposit of receivable-backed ABL of KT ENS. The case are currently pending in its second appeal. W 10,767 Compensation for a loss 1 According to the asset custody contract, the plaintiff is liable for damages caused by a fire in the property of the real estate investment company in which the Group is holding assets. In 2015 and 2017, the plaintiffs prevailed, but the first and second decisions were different. 6,893 Confirm deposit accounts 1 Hanwha Savings Bank, a party to the lender of Meat Loan, filed a lawsuit against all creditors to confirm deposit accounts for the sale of frozen meat. As a result, the lawsuit has been commissioned by the legal firm proceed a Matron’s private lawsuit related the Group. 5,575 Others 425 Compensation for a loss claim, etc. 234,131 428 W 257,366 As of the December 31, 2019, the Group has recorded W W |
Statement of cash flows (Tables
Statement of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of cash flow statement [Abstract] | |
Cash and cash equivalents in the consolidated statements of cash flows | (a) Cash and cash equivalents in the consolidated statements of cash flows as of December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 Cash and due from banks W 22,682,652 — — Cash and due from banks at amortized cost — 17,363,450 28,435,818 Adjustments: Due from financial institutions with a maturity over three months from date of acquisition (3,010,471 ) (3,008,188 ) (3,349,719 ) Restricted due from banks (13,435,531 ) (6,175,506 ) (16,506,925 ) W 6,236,650 8,179,756 8,579,174 |
Significant non-cash activities | (b) Significant non-cash 2017 2018 2019 Debt-equity swap W 32,530 28,759 224,093 Transfers from construction-in-progress 14,285 6,319 76,004 Transfers between property and equipment and investment property 91,782 28,199 104,573 Transfers between assets held for sale and property and equipment 5,336 80 455 Transfers between investment property and assets held for sale 6,306 — 15,795 Accounts payable for purchase of intangible assets, etc. — 1,047 472,798 Transaction for right-of-use — — 1,376,764 |
Changes in assets and liabilities arising from financing activities | (c) Changes in assets and liabilities arising from financing activities for the years ended December 31, 2018 and 2019 are as follows: 2018 Assets Liabilities Derivative Derivative Borrowings Debentures Total Balance at January 1, 2018 W 3,966 146,278 27,586,610 51,340,821 79,077,675 Changes from cash flows (5,845 ) (12,002 ) 1,772,203 11,798,466 13,552,822 Changes from non-cash Amortization of discount on borrowings and debentures — — 181,050 335,935 516,985 Changes in foreign currency exchange rate — — 955,512 229,277 1,184,789 Others 9,356 (49,697 ) (676,833 ) (476,800 ) (1,193,974 ) Balance at December 31, 2018 W 7,477 84,579 29,818,542 63,227,699 93,138,297 2019 Assets Liabilities Derivative Derivative Borrowings Debentures Lease Total Balance at January 1, 2019 W 7,477 84,579 29,818,542 63,227,699 536,842 93,675,139 Changes from cash flows — (21,958 ) 5,017,269 11,201,673 (269,362 ) 15,927,622 Changes from non-cash Amortization of discount on borrowings and debentures — — 58,320 352,524 11,291 422,135 Changes in foreign currency exchange rate — — 173,623 282,534 — 456,157 Others 47,020 (13,946 ) (204,598 ) 298,934 792,901 920,311 Business combination(Note 50) — — — — 32,587 32,587 Balance at December 31, 2019 W 54,497 48,675 34,863,156 75,363,364 1,104,259 111,433,951 (*) At the beginning balance of 2019, the lease liabilities are included due to the adoption of IFRS 16. |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Related parties [Abstract] | |
Balances with the related parties | Related party Account 2018 2019 Investments in associates: BNP Paribas Cardif Life Insurance Other assets W 9,860 92 ” Credit card loans 116 173 ” Deposits 444 402 Partners 4th Growth Investment Fund Deposits 1,855 1,443 BNP Paribas Cardif General Insurance Credit card loans 29 26 ” Allowances for credit Loss (“ACL”) (2 ) — ” Other assets — 401 ” Deposits 157 17 Shinhan Praxis K-Growth Other assets 151 91 Dream High Fund III Deposits 4 5 Midas Dong-A Deposits 159 — Credian Healthcare Private Equity Fund II Deposits 45 4 Midas Dong-A Deposits 354 233 IBKS-Shinhan Creative Economy New Technology Fund II (*1) Deposits 672 — Eum Private Equity Fund No.3 Deposits 49 353 SHBNPP Private Korea Equity Long-Short Professional Feeder (*2) Other assets 133 — Shinhan Global Healthcare Fund 1 Unearned revenue 360 — Shinhan Fintech New Technology Fund No.1 (*1) Unearned revenue 123 — Taihan Industrial System Co., Ltd. (*3) Deposits 85 — Incorporated association Finance Saving Information Center Credit card loans 3 — Deposits 4 6 GX Shinhan interest 1 st Unearned revenue 278 248 Nomura investment property trust No.19 Loans 11,966 11,973 ” Other assets 45 42 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 Other assets 236 678 Shinhan-Stonebridge Petro Private Equity Fund Other assets 484 810 Korea Finance Security Deposits — 362 SHINHAN-CORE TREND GLOBAL FUND 1 Unearned revenue — 9 Hermes Private Investment Equity Fund Deposits — 275 Multimedia Tech Co.Ltd Deposits — 3 Korea Credit Bureau Deposits — 80 Goduck Gangil1 PFV Co., Ltd Loans — 24,000 ” ACL — (78 ) SBC PFV Co., Ltd Deposits — 5,142 GMG Development Co,. Ltd Deposits — 300 Sprott Global Renewable Private Equity Fund I Deposits — 342 IMM Global Private Equity Fund Loans — 800 ” ACL — (3 ) ” Deposits — 7,598 Key management personnel and their immediate relatives: Loans 3,313 4,426 Assets 26,334 43,431 Liabilities W 4,589 16,822 (*1) Excluded from related parties due to the disposal or liquidation. (*2) As the Group held control due to increases in the equity ratio during the year, it was changed from an associates to a consolidated subsidiary. (*3) As the Group does not have significant influence to this entity, this has been removed from the related parties for the year ended December 31, 2019. |
Transactions with the related parties | (b) Transactions with the related parties for the years ended December 31, 2017, 2018 and 2019 are as follows: Related party Account 2017 2018 2019 Investments in associates BNP Paribas Cardif Life Insurance Fees and commission income W 4,631 3,716 4,230 ” Reversal of credit losses — 4 3 ” Provision for credit losses (3 ) — — ” Other operating expenses — — (1 ) ” General and administrative expenses (10 ) (17 ) (9 ) Shinhan Praxis K-Growth Fees and commission income 689 685 448 BNP Paribas Cardif General Insurance Fees and commission income 4 9 11 ” Reversal of credit losses 1 — — ” Provision for credit losses — (2 ) — ” Other operating income — — 468 Midas Dong-A Fees and commission income 38 47 119 ” Interest expense (3 ) (2 ) (1 ) SP New Technology Business investment Fund I (*2) Fees and commission income 41 317 — IBKS-Shinhan Creative Economy New Technology Fund (*2) Fees and commission income W 37 13 380 ” Interest expense (2 ) — — IBKS-Shinhan Creative Economy New Technology Fund 2 (*1) Fees and commission income 25 16 8 SM New Technology Business Investment Fund I Fees and commission income 55 55 14 JAEYOUNG SOLUTEC CO., LTD. (*2) Interest income 654 523 — ” Fees and commission income 1 2 — ” Other operating income 3 3 — ” Reversal of credit losses 1 — — ” Interest expense (4 ) (2 ) — ” Provision for credit losses (55 ) (1 ) — The Asia Pacific Capital Fund II L.P. Fees and commission income 85 — — Partners 4th Growth Investment Fund Interest expense (16 ) (19 ) (7 ) Shinhan-Albatross Technology Investment Fees and commission income 152 216 216 ” Interest expense (21 ) — — SHBNPP Private Korea Equity Long-Short Professional Feeder (*3) Fees and commission income 892 975 363 Branbuil CO., LTD. Fees and commission income 2 — — KDBC Midas Dong-A Interest expense — (2 ) — STI-New Fees and commission income 30 16 — Shinhan Fintech New Technology Fund No.1 (*1) Fees and commission income 30 153 38 KTB New lake medical Global Investment Interest income 10 — — ” Other operating expenses (13 ) — — Shinhan Global health Care Investment No.1 Fees and commission income 282 785 360 Taihan Industrial System Co., Ltd. (*4) Fees and commission income 2 1 — Shinhan capital-Cape FN Fund No.1 (*1) Fees and commission income — 82 101 SHC-K2 Fees and commission income — 20 19 Synergy-Shinhan Mezzanine New Technology Investment Fund Fees and commission income — 127 94 Shinhan-Midas Dong-A Fees and commission income W — 71 187 GX Shinhan interest 1st Private Equity Fund Fees and commission income — 412 545 Shinhan-Nvestor Liquidity Solution Fund Fees and commission income — 214 361 SHC ULMUS Fund No.1 Fees and commission income — 51 76 Shinhan-PS Fees and commission income — 12 20 Nomura investment property trust No.19 Interest income — 312 519 ” Other operating income — — 7 ” Provision for credit loss — (34 ) — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 Fees and commission income — 236 2,694 Shinhan-Stonebridge Petro Private Equity Fund Fees and commission income — 1,920 1,762 Korea Finance Security Fees and commission income — — 10 ShinHan – Soo Young Entrepreneur Investment Fund No.1 Fees and commission income — — 275 Shinhan-Rhinos 1 Fund Fees and commission income — — 64 SHINHAN-CORE TREND GLOBAL FUND 1 Fees and commission income — — 45 Kiwoom-Shinhan Innovation Fund I Fees and commission income — — 67 One Shinhan Global Fund 1 Fees and commission income — — 151 Yeollim-Shinhan Portfolio Fund I Fees and commission income — — 59 FuturePlay-Shinhan TechInnovation Fund 1 Fees and commission income — — 7 WON JIN HOME PLAN CO.,LTD Interest income — — 186 Korea Credit Bureau Fees and commission income — — 13 ” Interest expense — — (5 ) Goduck Gangil1 PFV Co., Ltd Interest income — — 328 ” Fees and commission income — — 1,120 ” Provision for credit loss — — (78 ) SBC PFV Co., Ltd Interest expense — — (3 ) IMM Global Private Equity Fund Interest income — — 28 ” Interest expense — — (25 ) ” Provision for credit loss — — (3 ) Key management personnel and their immediate relatives Interest income 101 101 161 W 7,639 11,015 15,425 (*1) Excluded from the associates due to disposal and liquidation for the year ended December 31, 2019. (*2) Excluded from the associates due to disposal and liquidation for the year ended December 31, 2018 (*3) Included in the related party due to the additional acquisition for the year ended December 31, 2019. (*4) As the Group does not have significant influence to this entity, this has been removed from the related parties for the year ended December 31, 2019. |
Key management personnel compensation | (c) Key management personnel compensation Key management personnel compensation for the years ended December 31, 2017, 2018 and 2019 were as follows: 2017 2018 2019 Short-term employee benefits W 17,112 22,502 21,237 Severance benefits 979 419 731 Share-based payment transactions (*) 6,787 4,944 12,343 W 24,878 27,865 34,311 (*) The expenses of share-based payment transactions are the remuneration expenses during the vesting period. |
The guarantees provided between the related parties | (d) The guarantees provided between the related parties as of December 31, 2018 and 2019 are as follows: Amount of guarantees Guarantor Guaranteed Parties 2018 2019 Account Shinhan Bank BNP Paribas Cardif Life Insurance W 10,000 10,000 Unused credit line |
Details of collaterals provided by the related parties | (e) Details of collaterals provided by the related parties as of December 31, 2018 and December 31, 2019 are as follows: Provided to Provided by Pledged assets 2018 2019 Shinhan Bank BNP Paribas Cardif Life Insurance Government bonds W 12,000 12,000 ” Hyungje art printing Properties — 120 ” Goduck Gangil1 PFV Co., Ltd Guarantee insurance policy — 28,800 W 12,000 40,920 |
Significant loan transactions with related parties | (f) Details of significant loan transactions with related parties as of December 31, 2018 and 2019 are as follows: 2018 Classification Company Beginning Loan Recover Other (*) Ending Investments in associates Nomura investment property trust No.19 W — 12,000 — (34 ) 11,966 (*) The effect on changes in allowance for credit loss is included. 2019 Classification Company Beginning Loan Recover Other (*) Ending Investments in associates Nomura investment property trust No.19 W 11,966 — — 7 11,973 ” Goduck Gangil1 PFV Co., Ltd — 24,000 — — 24,000 ” IMM Global Private Equity Fund — 800 — — 800 Total W 11,966 24,800 — 7 36,773 (*) The effect on changes in allowance for credit loss is included. |
Interests in unconsolidated s_2
Interests in unconsolidated structured entities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Abstract] | |
The size of unconsolidated structured entities | The size of unconsolidated structured entities as of December 31, 2018 and 2019 are as follows: 2018 2019 Total assets: Asset-backed securitization W 196,108,655 208,441,947 Structured financing 132,050,391 195,374,046 Investment fund 71,487,406 215,371,530 W 399,646,452 619,187,523 |
The carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities | i) The carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities as of December 31, 2018 and 2019 are as follows: 2018 Assets-backed securitization Structured financing Investment fund Total Assets: Loans measured at fair value through profit or loss W 292 504,571 802,825 1,307,688 Loan at amortized cost 478,998 6,925,438 33,500 7,437,936 Securities at fair value through profit or loss 4,263,817 288,757 5,293,807 9,846,381 Derivate assets 16,390 578 — 16,968 Securities at fair value through other comprehensive income 2,244,364 91,316 32,279 2,367,959 Securities at amortized cost 4,277,675 — — 4,277,675 Other assets 5,453 48,457 34,333 88,243 W 11,286,989 7,859,117 6,196,744 25,342,850 Liabilities: Derivative liabilities W 111 — — 111 Other 5,368 4,128 — 9,496 W 5,479 4,128 — 9,607 2019 Assets-backed securitization Structured financing Investment fund Total Assets: Loans measured at fair value through profit or loss W 10,646 69,727 — 80,373 Loan at amortized cost 785,134 10,207,866 664,024 11,657,024 Securities at fair value through profit or loss 3,705,565 70,407 9,378,374 13,154,346 Derivate assets 21,494 1,027 — 22,521 Securities at fair value through other comprehensive income 2,144,846 188,429 — 2,333,275 Securities at amortized cost 4,894,942 — — 4,894,942 Other assets 3,244 14,776 58,948 76,968 W 11,565,871 10,552,232 10,101,346 32,219,449 Liabilities: Other liabilities W 682 10,457 — 11,139 |
Exposure to risk relating to its interests in unconsolidated structured entities | 2018 Assets-backed securitization Structured financing Investment fund Total Assets held W 11,286,989 7,859,117 6,196,744 25,342,850 ABS and ABCP commitments 1,395,417 2,300 602,594 2,000,311 Loan commitments 1,791,650 815,910 26,100 2,633,660 Guarantees 88,810 142,032 — 230,842 Others — 49,464 — 49,464 W 14,562,866 8,868,823 6,825,438 30,257,127 2019 Assets-backed securitization Structured financing Investment fund Total Assets held W 11,565,871 10,552,232 10,101,346 32,219,449 ABS and ABCP commitments 1,208,707 2,300 868,498 2,079,505 Loan commitments 845,904 855,520 — 1,701,424 Guarantees 139,522 4,000 — 143,522 Others — 118,969 — 118,969 W 13,760,004 11,533,021 10,969,844 36,262,869 |
Business combination (Tables)
Business combination (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Business combination [Abstract] | |
Detailed information about business combinations | (a) Orange Life Insurance Co., Ltd i) General information On February 1, 2019, the Group obtained control over Orange Life Insurance Co., Ltd. by acquiring 59.15% of its shares after obtaining approval from the Financial Services Commission on January 16, 2019. The primary reason for the acquisition is to strengthen the life insurance business in response to changes in the financial market environment. ii) Identifiable net assets Fair values of assets acquired and liabilities assumed as of acquisition date are as follows: Amount (*1) Assets: Cash and due from banks at amortized cost W 739,071 Financial assets at fair value through profit or loss 1,573,453 Securities at fair value through other comprehensive income 11,111,395 Securities at amortized cost 11,273,999 Loans at amortized cost 2,588,588 Derivatives 13,934 Properties and equipment 35,489 Intangible assets (*2) 38,475 Other assets 5,847,621 33,222,025 Liabilities: Liabilities under insurance contracts (*3) 24,187,474 Derivative liabilities 3,991 Other liabilities 6,098,301 30,289,766 Fair value of the identifiable net assets W 2,932,259 (*1) The Group measured the identifiable assets and liabilities of the acquirer at fair value at the date of the business combination for the allocation of the consideration transferred. The fair value was measured at the price that would be received at the date of the business combination when the asset was sold, or when the liability was transferred in an orderly transaction between market participants, and in case the price was not directly observed, it was estimated using appropriate valuation techniques. (*2) Includes membership, software, and development costs that Orange Life Insurance Co., Ltd. holds. (*3) The Group has reflected VOBA (Value of Business Acquired), which was measured separately by applying the indirect method based on the intrinsic value, to the carrying value of the liabilities under insurance contracts that the Orange Life Insurance Co., Ltd. had. iii) Goodwill Goodwill recognized as a result of business combination is as follows: Amount Consideration paid in cash W 2,298,900 Fair value of identifiable net assets (2,932,259 ) Non-controlling 1,197,935 Goodwill W 564,576 (*) The non-controlling non-controlling iv) Cost related to business combination In connection with the business combination, the Group incurred expenses of W v) Net cash outflows due to business combination Net cash outflows due to business combination for the year ended December 31, 2019 are as follows: Amount Consideration transferred in cash W 2,298,900 Acquired cash and cash equivalents (154,754 ) W 2,144,146 Operating income and net profit for the year ended December 31, 2019 from Orange Life Insurance Co., Ltd, are W W (b) Asia Trust Co., Ltd i) General information On May 2, 2019, the Group obtained control over Asia Trust Co., Ltd. by acquiring 60% of its shares after obtaining approval from the Financial Services Commission on April 17, 2019. The primary reason for the acquisition is to strengthen the non-banking ii) Identifiable net assets Fair values of assets acquired and liabilities assumed as of acquisition date are as follows: Amount Assets: Cash and due from banks at amortized cost W 27,647 Financial assets at fair value through profit or loss 53,477 Loans at amortized cost (*1)(*3) 26,197 Properties and equipment 662 Intangible assets (*2) 40,649 Investment property 13,567 Other assets 13,367 175,566 Liabilities: Other liabilities (*3) 44,571 Fair value of the identifiable net assets W 130,995 (*1) Acquired loans were measured at fair value. The total amount of loans under contract is W W (*2) Includes the value of contract balance of W (*3) In regard to the land trust project at Ramada Hotel in Gampo, Gyeongju, some owners of parcels filed a lawsuit to return the down payments, and the intermediate payments. The loan financial institution of the business has filed a suit against Asia Trust Co., Ltd for the balance of the loans delinquent based on the intermediate payment loan agreement and subsequent agreement with the Group. The Group recorded the expected loss as allowance and provision for the trust business loans. In addition, the creditor of the constructor filed a suit claiming the construction fee; however, the Group did not reflect the effect in the consolidated financial statements as of December 31, 2019 since the potential and extent of the losses regarding the lawsuit is not reliably estimated. iii) Goodwill Goodwill recognized as a result of the business combination is as follows: Amount Consideration paid in cash W 193,400 Fair value of identifiable net assets (130,995 ) Non-controlling 52,398 Goodwill W 114,803 (*) The non-controlling non-controlling iv) Cost related to business combination In connection with the business combination, the Group incurred expenses of W v) Net cash outflows due to business combination Net cash outflows due to business combination for the year ended December 31, 2019 are as follows: Amount Consideration transferred W 193,400 Acquired cash and cash equivalents (18,647 ) W 174,753 Operating income and profit for the year ended December 31, 2019 from Asia Trust Co., Ltd. are W W (c) Shinhan Vietnam Finance Company Limited i) General information On January 22, 2019, the Group has acquired control over Prudential Vietnam Finance Co., Ltd in Vietnam by acquiring 100% of its shares, and changed the name to Shinhan Vietnam Finance Co., Ltd. The primary reason for the acquisition is to expand its new market through credit loan business in Vietnam. ii) Identifiable net assets Fair values of assets acquired and liabilities assumed as follows: Amount Assets: Cash and due from banks at amortized cost W 12,271 Loans at amortized cost 259,082 Properties and equipment 4,163 Intangible assets 5,629 Other assets 12,258 293,403 Liabilities: Deposits 211,325 Other liabilities 19,036 230,361 Fair value of the identifiable net assets W 63,042 iii) Goodwill Goodwill recognized as a result of the business combination is as follows: Amount Consideration paid in cash W 170,194 Fair value of identifiable net assets (63,042 ) Goodwill W 107,152 The Group assessed the goodwill based on the financial information as of January 1, 2019 (“assessment date”) as reliable financial information as of the acquisition date, January 22, 2019, were not available. Between the assessment date and the acquisition date, no significant transactions that affected the fair value of the identifiable net assets were identified. iv) Cost related to business combination In connection with the business combination, the Group incurred expenses of W v) Net cash outflows due to business combination Net cash outflows due to business combination for the year ended December 31, 2019 are as follows: Amount Consideration transferred W 170,194 Acquired cash and cash equivalents (12,271 ) W 157,923 Operating income and profit for the year ended December 31, 2019 from Shinhan Vietnam Finance Company Limited are W W (d) If the business combination had been consolidated from the beginning of 2019, the operating income and net income that would have been included in the consolidated statement of comprehensive income do not differ materially from the current operating income and net income recognised from the acquisition date of the business combination. |
Transition effects arising fr_2
Transition effects arising from changes in accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Transition effects arising from changes in accounting policies [Abstract] | |
Difference between the amount of operating lease agreements | The difference between the amount of operating lease agreements disclosed as of December 31, 2018 discounted at the Group’s incremental borrowing rate and the lease liabilities recognized at the date of initial application is as follows: Amount Operating lease agreement commitment disclosed as of December 31, 2018 W 610,080 Amount discounted using the Group’s incremental borrowing rate 591,725 Less: Low-value (3,454 ) Value-added Tax (51,429 ) Lease liabilities recognized at the beginning of 2019 W 536,842 Right-of-use W W W W The Group has changed its accounting policies as applying IFRS 9, Financial Instruments Revenue from Contracts with Customers IFRS 9 replaces IAS 39, Financial Instruments: Recognition and Measurement Financial Instruments: Disclosures |
Changes in equity due to application of IFRS 9 and 15 | (i) Changes in equity due to application of IFRS 9 and 15 Changes in equity as of January 1, 2018 due to the initial application date of IFRS 9 and 15 are as follows: Amounts Retained earnings at January 1, 2018 before changes W 20,791,681 Adjustments of retained earnings due to the application of IFRS 9 : Reclassification from financial assets at amortized cost to financial assets measured at fair value through profit or loss (74,061 ) Reclassification from available-for-sale 178,518 Reclassification from available-for-sale 204,457 Increase in loss allowance for financial assets measured at amortized cost (573,088 ) Increase in loss allowance for loan commitments and financial guarantee contracts (55,274 ) Increase in loss allowance for debt instruments measured at fair value through other comprehensive income (18,976 ) Effect of overlay approach application 34,102 Others (*2) (40,063 ) (344,385 ) Adjustments of retained earnings due to the application of IFRS 15 (*3) (2,896 ) Tax effects (*4) 95,426 Retained earnings at January 1, 2018 after changes W 20,539,826 (*1) With the application of IFRS 9, the effect of retained earnings of the recognized impairment from equity securities has reclassified to other comprehensive income. (*2) Include translation of foreign currencies, etc. (*3) The Group has divided the trust fees into trust sales fees and trust managing fees and recognition of trust managing fees are deferred. (*4) Tax effects due to the application of IFRS 9 are separately shown. Amounts Accumulated other comprehensive loss at January 1, 2018 before changes W (529,734 ) Adjustments of accumulated other comprehensive income due to the application of IFRS 9: Reclassification from available-for-sale (178,518 ) Reclassification from available-for-sale (204,457 ) Increase in loss allowance for debt instruments measured at fair value through other comprehensive income 18,976 Effect of overlay approach application (34,102 ) Others (*2) 11,039 (387,062 ) Tax effects (*3) 110,051 Accumulated other comprehensive loss at January 1, 2018 after changes W (806,745 ) (*1) The effect on retained earnings arising from the recognition of impairment losses related to equity securities in the prior periods was transferred to other comprehensive income upon the application of IFRS 9. (*2) Other adjustments include foreign currency translation and changes in non-controlling (*3) Tax effects due to the application of IFRS 9 are separately shown. |
Reclassification of financial instruments upon adoption of IFRS 9 | (ii) Reclassification of financial instruments upon adoption of IFRS 9 Details of reclassification of financial instruments as of January 1, 2018, the initial application date of IFRS 9, are as follows: IAS 39 IFRS 9 (*2) Carrying value Carrying Difference Financial assets: Due from banks Loans and receivables Financial assets W 902,124 833,942 (68,182 ) Loans and receivables Amortized cost 19,988,001 19,988,001 — Loan receivables Loans and receivables Financial assets 750,342 778,985 28,643 Loans and receivables Amortized cost 277,126,029 277,126,029 — Other financial assets Loans and receivables Amortized cost 12,090,983 12,090,983 — Trading assets Financial assets Financial assets 23,640,646 23,640,646 — Trading assets Financial assets Financial assets 4,634,353 4,634,353 — Trading assets (deposit in gold and silver) Financial assets Financial assets 189,297 189,297 — Financial assets designated as at FVTPL (debt securities) Financial assets Financial assets 2,030,522 2,030,522 — Financial assets Financial assets 80,288 80,288 — Financial assets designated as at FVTPL (equity securities) Financial assets Financial assets 1,162,553 1,162,553 — Financial assets Financial assets 71,803 71,803 — Financial assets designated as at FVTPL (other securities – compound financial instruments) Financial assets Financial assets 233,892 233,892 — Derivatives Financial assets Financial assets 3,400,178 3,348,803 (51,375 ) AFS financial assets AFS financial assets Financial assets 528,745 533,452 4,707 AFS financial assets Financial assets 36,657,807 36,657,807 — AFS financial assets (equity securities) AFS financial assets Financial assets 4,339,979 4,350,969 10,990 AFS financial assets Financial assets 590,405 590,405 — HTM financial assets (debt securities) HTM financial assets Financial assets 565,813 529,906 (35,907 ) HTM financial assets Amortized cost 24,424,867 24,424,867 — W 413,408,627 413,297,503 (111,124 ) Financial Liabilities: Deposits Financial liability measured at amortized cost Financial liabilities W 249,419,224 249,419,224 — Trading liabilities Financial liabilities at FVTPL Financial liabilities 1,848,490 1,848,490 — Financial liabilities designated as at FVTPL Financial liabilities at FVTPL Financial liabilities 8,260,636 8,260,636 — Financial liabilities at FVTPL Financial liabilities 36,973 36,973 — Derivatives Financial liabilities at FVTPL Financial liabilities 3,487,661 3,483,642 (4,019 ) Borrowings Financial liabilities measured at amortized cost Financial liabilities 27,586,610 27,586,313 (297 ) Debt securities issued Financial liabilities measured at amortized cost Financial liabilities 51,340,821 51,340,821 — Others Financial liabilities measured at amortized cost Financial liabilities 20,124,451 20,124,432 (19 ) W 362,104,866 362,100,531 (4,335 ) (*1) Gross carrying amounts that are before netting allowance for loan losses or credit loss allowance. (*2) Under IFRS 9, these financial instruments were categorized as financial assets or liabilities – FVTPL, as 1) the instruments are not held within a business model whose objective is achieved by both collecting contractual cash flows and selling them, or 2) the contractual terms of them does not give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. (*3) For hybrid contracts including embedded derivatives, the host contract and the derivatives are separated in accordance with IFRS 9. |
Impairment of financial assets upon adoption of IFRS 9 | (iii) Impairment of financial assets upon adoption of IFRS 9 Changes of credit loss allowance as of January 1, 2018, the initial application date of IFRS 9, are as follows: Classification Classification Loss allowance Loss allowance Loans and receivables Due from banks Financial assets at amortized cost W 14,054 15,062 Loan receivables Financial assets at amortized cost 2,307,275 2,871,986 Financial assets measured at FVTPL 3,329 — Other financial assets Financial assets at amortized cost 49,679 51,818 AFS financial assets Debt securities Financial assets measured at FVOCI — 18,976 HTM financial assets Debt securities Financial assets at amortized cost — 8,559 W 2,374,337 2,966,401 Financial guarantee Financial guarantee W 36,506 37,289 Unused credit line and other credit commitment Unused credit line and other credit commitment 168,006 222,498 W 204,512 259,787 |
Effect of reclassification on gross carrying amounts | 1) Gross carrying amounts Carrying value Amount Amount Carrying value Changes in Changes in Financial assets : Due from banks Carrying value under IAS 39 as of January 1, 2018 W 20,890,125 — — 20,890,125 — — Reclassification to financial assets measured at FVTPL — (902,124 ) — (902,124 ) — — 20,890,125 (902,124 ) — 19,988,001 — — Loans Carrying value under IAS 39 as of January 1, 2018 277,876,371 — — 277,876,371 — — Reclassification to financial assets measured at FVTPL — (750,342 ) — (750,342 ) — — 277,876,371 (750,342 ) — 277,126,029 — — Other financial assets Carrying value under IAS 39 as of January 1, 2018 12,090,983 — — 12,090,983 — — Trading assets (debt instruments) (*1) Carrying value under IAS 39 as of January 1, 2018 23,640,646 — — 23,640,646 — — Reclassification to financial assets measured at FVTPL — (23,640,646 ) — (23,640,646 ) — — 23,640,646 (23,640,646 ) — — — — Trading assets (equity instruments) Carrying value under IAS 39 as of January 1, 2018 4,634,353 — — 4,634,353 — — Reclassification to financial assets measured at FVTPL — (4,634,353 ) — (4,634,353 ) — — 4,634,353 (4,634,353 ) — — — — Trading assets (gold deposit) (*1) Carrying value under IAS 39 as of January 1, 2018 189,297 — — 189,297 — — Reclassification to financial assets measured at FVTPL — (189,297 ) — (189,297 ) — — 189,297 (189,297 ) — — — — Derivatives (*1) Carrying value under IAS 39 as of January 1, 2018 3,400,178 — — 3,400,178 — — Reclassification to financial assets measured at FVTPL — (51,375 ) — (51,375 ) — — 3,400,178 (51,375 ) — 3,348,803 — — Financial assets designated at FVTPL (*1) Carrying value under IAS 39 as of January 1, 2018 3,579,057 — — 3,579,057 — — Reclassification to financial assets measured at FVTPL — (3,426,966 ) — (3,426,966 ) — — Reclassification to financial assets designated at FVTPL — (152,091 ) — (152,091 ) — — W 3,579,057 (3,579,057 ) — — — — Carrying value Amount Amount Carrying value Changes in Changes in other AFS (debt securities) Carrying value under IAS 39 as of January 1, 2018 W 37,186,552 — — 37,186,552 — — Reclassification to financial assets measured at FVTPL — (528,745 ) — (528,745 ) — — Reclassification to financial assets measured at FVOCI — (36,657,807 ) — (36,657,807 ) — — 37,186,552 (37,186,552 ) — — — — AFS (equity securities) Carrying value under IAS 39 as of January 1, 2018 4,930,385 — — 4,930,385 — — Reclassification to financial assets measured at FVTPL — (4,339,979 ) — (4,339,979 ) — — Reclassification to financial assets measured at FVOCI — (590,405 ) — (590,405 ) — — 4,930,385 (4,930,385 ) — — — — HTM (debt securities) Carrying value under IAS 39 as of January 1, 2018 24,990,680 — — 24,990,680 — — Reclassification to financial assets measured at FVTPL — (565,813 ) — (565,813 ) — — Reclassification to financial assets measured at amortized cost — (24,424,867 ) — (24,424,867 ) — — 24,990,680 (24,990,680 ) — — — — Financial assets as measured at FVTPL Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from due from banks — 902,124 (68,182 ) 833,942 — (68,182 ) Transfer from loans and other receivables — 750,342 30,027 780,369 30,027 — Transfer from trading assets — 28,464,296 — 28,464,296 — — Transfer from financial assets designated at FVTPL — 3,426,967 — 3,426,967 — — Transfer from AFS — 4,868,724 7,708 4,876,432 108,532 (108,532 ) Transfer from HTM — 565,813 (35,907 ) 529,906 — (35,907 ) Transfer from derivative assets — 51,375 (42,195 ) 9,180 — — — — (2,575 ) (2,575 ) — — — 39,029,641 (111,124 ) 38,918,517 138,559 (212,620 ) Financial assets designated at FVTPL (IFRS 9) Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from financial assets designated at FVTPL (IAS 39) — 152,091 — 152,091 — — — 152,091 — 152,091 — — Financial assets measured at FVOCI (*2) Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from AFS — 37,248,212 — 37,248,212 204,457 (204,457 ) — 37,248,212 — 37,248,212 204,457 (204,457 ) Financial assets measured at amortized cost (*2) Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from HTM — 24,424,867 — 24,424,867 — — — 24,424,867 — 24,424,867 — — W 413,408,627 — (111,124 ) 413,297,503 343,016 (417,077 ) Financial liabilities : Carrying value Amount Amount Carrying value Changes in Changes in other Deposits Carrying value under IAS 39 as of January 1, 2018 W 249,419,224 — — 249,419,224 — — 249,419,224 — — 249,419,224 — — Trading liabilities (*1) Carrying value under IAS 39 as of January 1, 2018 1,848,490 — — 1,848,490 — — Reclassification to financial liabilities measured at FVTPL — (1,848,490 ) — (1,848,490 ) — — 1,848,490 (1,848,490 ) — — — — Financial liabilities designated at FVTPL Carrying value under IAS 39 as of January 1, 2018 8,297,609 — — 8,297,609 — — Reclassification to financial liabilities designated at FVTPL — (8,260,636 ) — (8,260,636 ) — — Reclassification to financial liabilities measured at FVTPL — (36,973 ) — (36,973 ) — — 8,297,609 (8,297,609 ) — — — — Financial liabilities measured at FVTPL Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from trading liabilities — 1,848,490 — 1,848,490 — — Transfer from financial liabilities designated at FVTPL — 36,973 — 36,973 — — — 1,885,463 — 1,885,463 — — Financial liabilities designated at FVTPL Carrying value under IAS 39 as of January 1, 2018 — — — — — — Transfer from financial liabilities designated at FVTPL — 8,260,636 — 8,260,636 — — — 8,260,636 — 8,260,636 — — Derivative liabilities Carrying value under IAS 39 as of January 1, 2018 3,487,661 — — 3,487,661 — — Other — — (4,019 ) (4,019 ) — — 3,487,661 — (4,019 ) 3,483,642 — — Borrowings Carrying value under IAS 39 as of January 1, 2018 27,586,610 — — 27,586,610 — — Other — — (297 ) (297 ) — — 27,586,610 — (297 ) 27,586,313 — — Debt securities issued Carrying value under IAS 39 as of January 1, 2018 51,340,821 — — 51,340,821 — — Other financial liabilities Carrying value under IAS 39 as of January 1, 2018 20,124,451 — — 20,124,451 — — Other — — (19 ) (19 ) — — 20,124,451 — (19 ) 20,124,432 — — W 362,104,866 — (4,335 ) 362,100,531 — — (*1) With respect to financial assets and financial liabilities reclassified from the category of fair value through profit or loss, effective interest rates calculated on the initial application date of IFRS 9 and interest income or expense recognized shall be disclosed. Such reclassification has not occurred as a result of the IFRS 9 adoption. (*2) With respect to financial assets and financial liabilities reclassified to financial instruments measured at amortized cost, and financial assets measured at fair value through profit or loss reclassified to the category of fair value through other comprehensive income, the gain or loss on fair value measurement that would otherwise have been recognized in profit or loss or other comprehensive income in the reporting period, and the fair value of the financial assets or financial liabilities, shall be disclosed. Such reclassification has not occurred as a result of the IFRS 9 adoption. |
Effect of reclassification on Credit loss allowance | 2) Credit loss allowance Carrying value Amount Amount Carrying value Changes in Changes in Credit loss allowance for Due from banks W 14,054 — 1,008 15,062 (1,008 ) — Loans 2,310,604 (3,328 ) 564,710 2,871,986 (561,382 ) — Financial asset measured at FVOCI (Debt securities) — — 18,976 18,976 (18,976 ) 18,976 Financial asset measured at amortized cost (Debt securities) — — 8,559 8,559 (8,559 ) — Other assets 49,679 — 2,139 51,818 (2,139 ) — Financial guarantee 36,506 — 783 37,289 (783 ) — Unused credit line and other credit commitment 168,006 — 54,492 222,498 (54,492 ) — W 2,578,849 (3,328 ) 650,667 3,226,188 (647,339 ) 18,976 |
Financial impact with IFRS 15 | (vi) Financial impact with IFRS 15 As of December 31, 2018, the effect of applying IFRS 15 is as follows in the statement of comprehensive income of the Group as of December 31, 2018 (excluding trust fees reflected by the conversion effect). The effect on the terminated cash flow statement is not significant. The effect on the consolidated statement of financial position as of December 31, 2018 is as follows. Disclosed Adjustments Amount before Liabilities: Provisions: Credit card W — (24,700 ) 24,700 Other liabilities: Accounts payable 9,748,168 (41,758 ) 9,789,926 Unearned revenues 236,827 (209,241 ) 446,068 Others 2,496,169 275,698 2,220,471 The effect on the consolidated statement of comprehensive income is as follows. Disclosed Adjustments Amount before Net fee and commission income (*1)(*2): Fee and commission income: Credit card W 1,360,322 (1,135,515 ) 2,495,837 Fee and commission incomes Credit card payment (944,533 ) 1,135,515 (2,080,048 ) (*1) Before adopting IFRS 15, the Group defers and recognizes the amount allocated to the credit card points as unearned revenue and revenue is recognized only when the points are redeemed and the Group has fulfilled its obligation to provide the benefits. In addition, a provision for onerous contracts is recognized when the expected benefits to be derived by the Group from customer loyalty program are lower than the unavoidable cost of meeting its obligations under the programmes. However under IFRS 15, the amount allocated to the credit card points is regarded as consideration payable to the customers and recognized as a reduction of fee and commission income, estimated as fair value of the monetary benefits taking into account the expected redemption rate. (*2) The Group has changed the recognition of card holder service fee paid to a customer recognized as fee and commission expense before adopting IFRS 15, to reduction of fee and commission income under IFRS 15. |
Condensed Shinhan Financial G_2
Condensed Shinhan Financial Group (Parent Company only) Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Condensed financial information of parent company only disclosure [Abstract] | |
STATEMENTS OF FINANCIAL POSITION | STATEMENTS OF FINANCIAL POSITION 2018 2019 Assets Deposits Banking subsidiaries W 24 167 Other 48,572 — Receivables from subsidiaries: Non-banking 1,644,666 2,219,698 Investment (at equity) in subsidiaries: Banking subsidiaries 13,792,072 13,797,222 Non-banking 11,983,360 15,183,053 Financial assets at FVTPL 1,927,150 443,377 Derivative assets — 24,352 Property, equipment and intangible assets, net 7,983 11,106 Other assets Banking subsidiaries 311,052 408,436 Non-banking 162,695 171,321 Other 236,658 2,590 Total assets W 30,114,232 32,261,322 Liabilities and equity Borrowings W 125,000 — Debt securities issued 7,812,358 9,147,640 Derivative liabilities — 17,687 Accrued expenses & other liabilities 526,806 630,569 Total liabilities 8,464,164 9,795,896 Equity 21,650,068 22,465,426 Total liabilities and equity W 30,114,232 32,261,322 |
CONDENSED STATEMENTS OF INCOME | 2017 2018 2019 Income Dividends from banking subsidiaries W 481,524 541,524 892,310 Dividends from non-banking 448,588 866,150 428,634 Interest income from banking subsidiaries 228 268 263 Interest income from non-banking 27,111 31,224 38,968 Other income 51,953 74,215 125,324 Total income 1,009,404 1,513,381 1,485,499 Expenses Interest expense (179,330 ) (187,882 ) (206,815 ) Other expense (74,733 ) (89,145 ) (147,589 ) Total expenses (254,063 ) (277,027 ) (354,404 ) Profit before income tax expense 755,341 1,236,354 1,131,095 Income tax expense 614 1,471 1,922 Profit for the year W 754,727 1,234,883 1,129,173 |
CONDENSED STATEMENTS OF CASH FLOWS | 2017 2018 2019 Cash flows from operating activities Profit before income taxes W 755,341 1,236,354 1,131,095 Non-cash (774,385 ) (1,251,379 ) (1,164,022 ) Changes in operating assets and liabilities (66,339 ) (1,671,189 ) 1,475,702 Net interest paid (149,642 ) (153,926 ) (154,765 ) Dividend received from subsidiaries 930,112 1,407,674 1,320,944 Income tax refunds (paid) 100 — (194 ) Net cash provided by (used in) operating activities 695,187 (432,466 ) 2,608,760 Cash flows from investing activities Net loan origination to non-banking (300,000 ) (412,630 ) (575,936 ) Acquisition of subsidiary (30,000 ) (42,273 ) (2,977,196 ) Other, net (715 ) (231,281 ) (660 ) Net cash used in investing activities (330,715 ) (686,184 ) (3,553,792 ) Cash flows from financing activities Issuance of convertible preferred shares — — 747,791 Issuance of hybrid bonds 224,466 1,107,838 199,476 Redemption of hybrid bonds (300,000 ) — — Net changes in borrowings — 120,000 (125,000 ) Issuance of debt securities issued 1,497,588 2,396,138 3,194,764 Repayments of debt securities issued (1,080,000 ) (1,590,000 ) (1,844,000 ) Dividend paid (706,565 ) (714,705 ) (830,772 ) Acquisition of treasury stock — (151,993 ) (444,077 ) Redemption of lease liabilities — — (1,614 ) Net cash provided by (used in) financing activities (364,511 ) 1,167,278 896,568 Net increase (decrease) in cash and cash equivalents (39 ) 48,628 (48,464 ) Cash and cash equivalents at beginning of year 39 — 48,628 Cash and cash equivalents at end of year W — 48,628 164 |
Ownership of Shinhan Financial
Ownership of Shinhan Financial Group and its material consolidated subsidiaries (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Shinhan Bank Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Card Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Investment Corp. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Life Insurance Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Orange Life Insurance Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 59.20% | |
Shinhan Capital Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Jeju Bank | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 75.30% | 71.90% |
Shinhan Credit Information Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Alternative Investment Management Inc. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan BNP Paribas Asset Management Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 65.00% | 65.00% |
SHC Management Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Data System | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Savings Bank | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Asia Trust Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 60.00% | |
Shinhan AITAS Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 99.80% | 99.80% |
Shinhan REITs Management Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan AI Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Korea | Korea |
Proportion of ownership interest in subsidiary | 100.00% | |
Shinhan Asia Limited | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Hong Kong | Hong Kong |
Proportion of ownership interest in subsidiary | 99.90% | 99.90% |
Shinhan Bank America | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | USA | USA |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Bank Europe GmbH | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Germany | Germany |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Bank Cambodia | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Cambodia | Cambodia |
Proportion of ownership interest in subsidiary | 97.50% | 97.50% |
Shinhan Bank Kazakhstan Limited | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Kazakhstan | Kazakhstan |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Bank Canada | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Canada | Canada |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Bank (China) Limited | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | China | China |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Bank Japan | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Japan | Japan |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Bank Vietnam Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Vietnam | Vietnam |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Banco Shinhan de Mexico | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Mexico | Mexico |
Proportion of ownership interest in subsidiary | 99.90% | 99.90% |
PT Bank Shinhan Indonesia | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Indonesia | Indonesia |
Proportion of ownership interest in subsidiary | 99.00% | 99.00% |
LLP MFO Shinhan Finance | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Kazakhstan | Kazakhstan |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
PT. Shinhan Indo Finance | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Indonesia | Indonesia |
Proportion of ownership interest in subsidiary | 50.00% | 50.00% |
Shinhan Microfinance Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Myanmar | Myanmar |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Vietnam Finance | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Vietnam | Vietnam |
Proportion of ownership interest in subsidiary | 100.00% | |
Shinhan Investment Corp. USA Inc. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | USA | USA |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Shinhan Investment Corp. Asia Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Hong Kong | Hong Kong |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
SHINHAN Securities Vietnam Co., Ltd. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Vietnam | Vietnam |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
PT. Shinhan Sekuritas Indonesia | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Indonesia | Indonesia |
Proportion of ownership interest in subsidiary | 99.00% | 99.00% |
PT Shinhan Asset Management Indonesia | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Indonesia | Indonesia |
Proportion of ownership interest in subsidiary | 75.00% | 75.00% |
Shinhan BNP Paribas Asset Management (Hong Kong) Limited | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Hong Kong | Hong Kong |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
SHINHAN DS VIETNAM CO.,LTD. | ||
Ownership of Shinhan Financial Group and its material consolidated subsidiaries [Line Items] | ||
Country of incorporation of subsidiary | Vietnam | Vietnam |
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Maximum exposure to credit risk
Maximum exposure to credit risk (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | ₩ 707,472,356 | ₩ 611,310,911 |
Due from banks and loans at amortized cost | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 349,085,837 | 314,340,868 |
Due from banks and loans at amortized cost | Banks | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 12,950,561 | 17,935,816 |
Due from banks and loans at amortized cost | Retail | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 152,840,826 | 136,499,558 |
Due from banks and loans at amortized cost | Government | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 19,461,567 | 6,517,215 |
Due from banks and loans at amortized cost | Corporations | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 140,718,619 | 131,795,992 |
Due from banks and loans at amortized cost | Card receivable | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 23,114,264 | 21,592,287 |
Deposits and loans at FVTPL | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 3,052,346 | 2,079,850 |
Deposits and loans at FVTPL | Banks | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 897,525 | 890,660 |
Deposits and loans at FVTPL | Corporations | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 2,154,821 | 1,189,190 |
Securities at FVTPL | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 48,512,857 | 40,289,846 |
Securities at fair value through other comprehensive income | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 58,573,094 | 37,677,646 |
Securities at amortized cost | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 45,582,065 | 28,478,136 |
Derivative assets | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 2,829,274 | 1,793,613 |
Other financial assets | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 17,477,778 | 16,837,141 |
Financial guarantee contracts | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 4,698,558 | 4,413,874 |
Loan commitments and other | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | ₩ 177,660,547 | ₩ 165,399,937 |
Maximum amount of exposure to c
Maximum amount of exposure to credit risk by type of collateral of held financial instruments (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | ₩ 170,639,881 | ₩ 159,586,797 |
Guarantee | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 16,052,589 | 17,539,924 |
Deposits and Savings | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 1,327,197 | 1,259,337 |
Property and equipment | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 1,341,344 | 1,314,910 |
Real estate | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 143,401,316 | 133,312,928 |
Securities | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 3,477,442 | 3,565,660 |
Others | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 5,039,993 | 2,594,038 |
12-month expected credit losses | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 150,785,399 | 140,904,620 |
12-month expected credit losses | Guarantee | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 12,232,197 | 13,608,254 |
12-month expected credit losses | Deposits and Savings | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 1,058,353 | 1,016,391 |
12-month expected credit losses | Property and equipment | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 1,021,002 | 1,051,573 |
12-month expected credit losses | Real estate | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 128,098,318 | 119,174,347 |
12-month expected credit losses | Securities | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 3,340,337 | 3,460,263 |
12-month expected credit losses | Others | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 5,035,192 | 2,593,792 |
Lifetime expected credit losses | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 19,404,094 | 18,318,248 |
Lifetime expected credit losses | Guarantee | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 3,756,006 | 3,870,047 |
Lifetime expected credit losses | Deposits and Savings | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 266,407 | 241,567 |
Lifetime expected credit losses | Property and equipment | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 307,502 | 244,571 |
Lifetime expected credit losses | Real estate | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 14,932,637 | 13,856,638 |
Lifetime expected credit losses | Securities | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 137,105 | 105,397 |
Lifetime expected credit losses | Others | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 4,437 | 28 |
Impaired | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 450,388 | 363,929 |
Impaired | Guarantee | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 64,386 | 61,623 |
Impaired | Deposits and Savings | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 2,437 | 1,379 |
Impaired | Property and equipment | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 12,840 | 18,766 |
Impaired | Real estate | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 370,361 | 281,943 |
Impaired | Securities | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | 0 | 0 |
Impaired | Others | ||
Maximum amount of exposure to credit risk by type of collateral of held financial instruments [Line Items] | ||
Maximum exposure to credit risk | ₩ 364 | ₩ 218 |
Credit loss allowances of finan
Credit loss allowances of financial assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | ₩ 455,947,675 | ₩ 383,245,803 |
Credit loss allowances of financial assets | (2,706,679) | (2,749,153) |
Financial assets at amortized cost, net | 453,240,996 | 380,496,650 |
Mitigation of credit risk due to collateral | 165,625,171 | 155,365,725 |
Due from banks and loans at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 351,782,746 | 317,080,760 |
Credit loss allowances of financial assets | (2,696,909) | (2,739,892) |
Financial assets at amortized cost, net | 349,085,837 | 314,340,868 |
Mitigation of credit risk due to collateral | 165,625,171 | 155,365,725 |
Due from banks and loans at amortized cost | Banks | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 12,962,636 | 17,960,096 |
Credit loss allowances of financial assets | (12,075) | (24,280) |
Financial assets at amortized cost, net | 12,950,561 | 17,935,816 |
Mitigation of credit risk due to collateral | 57,087 | 55,008 |
Due from banks and loans at amortized cost | Retail | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 153,347,710 | 136,939,116 |
Credit loss allowances of financial assets | (506,884) | (439,558) |
Financial assets at amortized cost, net | 152,840,826 | 136,499,558 |
Mitigation of credit risk due to collateral | 87,826,564 | 81,216,489 |
Due from banks and loans at amortized cost | Government | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 19,467,489 | 6,522,489 |
Credit loss allowances of financial assets | (5,922) | (5,274) |
Financial assets at amortized cost, net | 19,461,567 | 6,517,215 |
Mitigation of credit risk due to collateral | 0 | 17,050 |
Due from banks and loans at amortized cost | Corporations | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 142,037,125 | 133,264,866 |
Credit loss allowances of financial assets | (1,318,506) | (1,468,874) |
Financial assets at amortized cost, net | 140,718,619 | 131,795,992 |
Mitigation of credit risk due to collateral | 77,732,792 | 74,069,579 |
Due from banks and loans at amortized cost | Card receivable | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 23,967,786 | 22,394,193 |
Credit loss allowances of financial assets | (853,522) | (801,906) |
Financial assets at amortized cost, net | 23,114,264 | 21,592,287 |
Mitigation of credit risk due to collateral | 8,728 | 7,599 |
Securities at fair value through other comprehensive income | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 58,573,094 | 37,677,646 |
Credit loss allowances of financial assets | 0 | 0 |
Financial assets at amortized cost, net | 58,573,094 | 37,677,646 |
Mitigation of credit risk due to collateral | 0 | 0 |
Securities at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 45,591,835 | 28,487,397 |
Credit loss allowances of financial assets | (9,770) | (9,261) |
Financial assets at amortized cost, net | 45,582,065 | 28,478,136 |
Mitigation of credit risk due to collateral | 0 | 0 |
12-month expected credit losses | Grade 1 | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 363,040,079 | 302,639,821 |
12-month expected credit losses | Grade 1 | Due from banks and loans at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 269,466,898 | 244,272,193 |
12-month expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Banks | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 11,703,863 | 16,873,064 |
12-month expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Retail | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 136,124,712 | 122,318,451 |
12-month expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Government | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 19,274,854 | 6,474,219 |
12-month expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Corporations | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 85,202,285 | 82,476,923 |
12-month expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Card receivable | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 17,161,184 | 16,129,536 |
12-month expected credit losses | Grade 1 | Securities at fair value through other comprehensive income | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 49,276,299 | 30,705,879 |
12-month expected credit losses | Grade 1 | Securities at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 44,296,882 | 27,661,749 |
12-month expected credit losses | Grade 2 | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 53,425,717 | 45,242,824 |
12-month expected credit losses | Grade 2 | Due from banks and loans at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 43,096,335 | 37,573,713 |
12-month expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Banks | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 1,179,294 | 980,673 |
12-month expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Retail | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 7,443,675 | 6,122,202 |
12-month expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Government | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 111,987 | 2,399 |
12-month expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Corporations | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 32,112,103 | 28,445,914 |
12-month expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Card receivable | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 2,249,276 | 2,022,525 |
12-month expected credit losses | Grade 2 | Securities at fair value through other comprehensive income | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 9,057,701 | 6,865,937 |
12-month expected credit losses | Grade 2 | Securities at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 1,271,681 | 803,174 |
Lifetime expected credit losses | Grade 1 | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 17,974,221 | 16,746,327 |
Lifetime expected credit losses | Grade 1 | Due from banks and loans at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 17,950,949 | 16,723,853 |
Lifetime expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Banks | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 77,675 | 94,866 |
Lifetime expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Retail | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 5,694,210 | 4,991,709 |
Lifetime expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Government | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 80,648 | 45,871 |
Lifetime expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Corporations | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 10,219,343 | 9,800,260 |
Lifetime expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Card receivable | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 1,879,073 | 1,791,147 |
Lifetime expected credit losses | Grade 1 | Securities at fair value through other comprehensive income | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 0 | 0 |
Lifetime expected credit losses | Grade 1 | Securities at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 23,272 | 22,474 |
Lifetime expected credit losses | Grade 2 | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 19,629,678 | 16,919,867 |
Lifetime expected credit losses | Grade 2 | Due from banks and loans at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 19,390,584 | 16,814,037 |
Lifetime expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Banks | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 1,804 | 11,493 |
Lifetime expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Retail | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 3,608,216 | 3,103,779 |
Lifetime expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Government | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 0 | 0 |
Lifetime expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Corporations | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 13,546,622 | 11,659,375 |
Lifetime expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Card receivable | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 2,233,942 | 2,039,390 |
Lifetime expected credit losses | Grade 2 | Securities at fair value through other comprehensive income | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 239,094 | 105,830 |
Lifetime expected credit losses | Grade 2 | Securities at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 0 | 0 |
Impaired | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 1,877,980 | 1,696,964 |
Impaired | Due from banks and loans at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 1,877,980 | 1,696,964 |
Impaired | Due from banks and loans at amortized cost | Banks | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 0 | 0 |
Impaired | Due from banks and loans at amortized cost | Retail | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 476,897 | 402,975 |
Impaired | Due from banks and loans at amortized cost | Government | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 0 | 0 |
Impaired | Due from banks and loans at amortized cost | Corporations | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 956,772 | 882,394 |
Impaired | Due from banks and loans at amortized cost | Card receivable | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 444,311 | 411,595 |
Impaired | Securities at fair value through other comprehensive income | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 0 | 0 |
Impaired | Securities at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | ₩ 0 | ₩ 0 |
Credit risk exposures per credi
Credit risk exposures per credit grade of off-balance items (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Financial guarantee | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | ₩ 4,698,558 | ₩ 4,413,874 |
Financial guarantee | Grade 1 | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 3,053,961 | 2,283,931 |
Financial guarantee | Grade 1 | 12-month expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 2,805,417 | 2,137,695 |
Financial guarantee | Grade 1 | Lifetime expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 248,544 | 146,236 |
Financial guarantee | Grade 2 | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 1,643,787 | 2,128,154 |
Financial guarantee | Grade 2 | 12-month expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 1,495,091 | 1,975,877 |
Financial guarantee | Grade 2 | Lifetime expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 148,696 | 152,277 |
Financial guarantee | Financial instruments credit-impaired | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 810 | 1,789 |
Loan commitment and other credit line | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 177,660,547 | 165,399,937 |
Loan commitment and other credit line | Grade 1 | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 153,861,889 | 144,556,688 |
Loan commitment and other credit line | Grade 1 | 12-month expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 146,010,944 | 137,920,323 |
Loan commitment and other credit line | Grade 1 | Lifetime expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 7,850,945 | 6,636,365 |
Loan commitment and other credit line | Grade 2 | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 23,775,120 | 20,832,710 |
Loan commitment and other credit line | Grade 2 | 12-month expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 21,044,977 | 19,044,745 |
Loan commitment and other credit line | Grade 2 | Lifetime expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 2,730,143 | 1,787,965 |
Loan commitment and other credit line | Financial instruments credit-impaired | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | ₩ 23,538 | ₩ 10,539 |
Credit quality of derivative as
Credit quality of derivative assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of Credit quality of derivative assets [Line Items] | ||
Derivative assets | ₩ 2,829,274 | ₩ 1,793,613 |
Internal credit grades | ||
Disclosure of Credit quality of derivative assets [Line Items] | ||
Derivative assets | 2,829,274 | 1,793,613 |
Grade 1 | ||
Disclosure of Credit quality of derivative assets [Line Items] | ||
Derivative assets | 2,377,548 | 1,687,005 |
Grade 2 | ||
Disclosure of Credit quality of derivative assets [Line Items] | ||
Derivative assets | ₩ 451,726 | ₩ 106,608 |
Concentration by geographic loc
Concentration by geographic location for financial instrument, net of allowance (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | ₩ 504,806,199 | ₩ 422,866,346 |
Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 349,085,837 | 314,340,868 |
Due from banks and loans at amortized cost | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 12,950,561 | 17,935,816 |
Due from banks and loans at amortized cost | Retail | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 152,840,826 | 136,499,558 |
Due from banks and loans at amortized cost | Government | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 19,461,567 | 6,517,215 |
Due from banks and loans at amortized cost | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 140,718,619 | 131,795,992 |
Due from banks and loans at amortized cost | Card receivable | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 23,114,264 | 21,592,287 |
Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,052,346 | 2,079,850 |
Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 897,525 | 890,660 |
Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,154,821 | 1,189,190 |
Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 48,512,857 | 40,289,846 |
Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 58,573,094 | 37,677,646 |
Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 45,582,065 | 28,478,136 |
Korea | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 457,301,242 | 382,242,456 |
Korea | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 312,474,026 | 281,363,653 |
Korea | Due from banks and loans at amortized cost | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 5,124,738 | 8,996,272 |
Korea | Due from banks and loans at amortized cost | Retail | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 144,700,885 | 130,034,683 |
Korea | Due from banks and loans at amortized cost | Government | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 16,805,176 | 4,257,877 |
Korea | Due from banks and loans at amortized cost | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 122,926,428 | 116,621,693 |
Korea | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 22,916,799 | 21,453,128 |
Korea | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,324,662 | 1,375,655 |
Korea | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 177,713 | 186,465 |
Korea | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,146,949 | 1,189,190 |
Korea | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 45,635,765 | 38,782,201 |
Korea | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 53,939,143 | 34,667,702 |
Korea | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 42,927,646 | 26,053,245 |
USA | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 10,397,683 | 9,224,369 |
USA | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 5,290,111 | 5,287,793 |
USA | Due from banks and loans at amortized cost | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,263,568 | 1,712,675 |
USA | Due from banks and loans at amortized cost | Retail | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 371,602 | 359,668 |
USA | Due from banks and loans at amortized cost | Government | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 529,096 | 499,742 |
USA | Due from banks and loans at amortized cost | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,116,777 | 2,707,273 |
USA | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 9,068 | 8,435 |
USA | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 719,812 | 704,195 |
USA | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 719,812 | 704,195 |
USA | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
USA | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,662,249 | 973,716 |
USA | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,955,627 | 1,209,756 |
USA | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 769,884 | 1,048,909 |
England | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 909,710 | 761,975 |
England | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 617,409 | 576,568 |
England | Due from banks and loans at amortized cost | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 423,788 | 462,540 |
England | Due from banks and loans at amortized cost | Retail | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 5,444 | 4,432 |
England | Due from banks and loans at amortized cost | Government | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
England | Due from banks and loans at amortized cost | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 187,856 | 109,295 |
England | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 321 | 301 |
England | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
England | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
England | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
England | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 194,591 | 163,658 |
England | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 97,710 | 21,749 |
England | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Japan | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 9,071,961 | 7,707,180 |
Japan | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 8,664,617 | 7,413,290 |
Japan | Due from banks and loans at amortized cost | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 289,233 | 640,895 |
Japan | Due from banks and loans at amortized cost | Retail | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,888,964 | 3,440,623 |
Japan | Due from banks and loans at amortized cost | Government | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,080,381 | 750,676 |
Japan | Due from banks and loans at amortized cost | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,403,806 | 2,578,989 |
Japan | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,233 | 2,107 |
Japan | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Japan | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Japan | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Japan | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 49,067 | 28,062 |
Japan | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 195,165 | 197,234 |
Japan | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 163,112 | 68,594 |
Germany | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 404,126 | 478,817 |
Germany | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 304,011 | 420,893 |
Germany | Due from banks and loans at amortized cost | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 203,166 | 213,399 |
Germany | Due from banks and loans at amortized cost | Retail | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,548 | 2,151 |
Germany | Due from banks and loans at amortized cost | Government | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 108,667 |
Germany | Due from banks and loans at amortized cost | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 99,083 | 96,468 |
Germany | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 214 | 208 |
Germany | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Germany | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Germany | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Germany | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 6,346 | 11,507 |
Germany | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 93,769 | 46,417 |
Germany | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Vietnam | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 6,024,699 | 4,875,259 |
Vietnam | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 5,104,960 | 4,100,898 |
Vietnam | Due from banks and loans at amortized cost | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,068,822 | 947,315 |
Vietnam | Due from banks and loans at amortized cost | Retail | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,612,761 | 1,031,299 |
Vietnam | Due from banks and loans at amortized cost | Government | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 140,960 | 182,822 |
Vietnam | Due from banks and loans at amortized cost | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,140,573 | 1,846,470 |
Vietnam | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 141,844 | 92,992 |
Vietnam | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Vietnam | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Vietnam | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Vietnam | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 21,625 | 20,740 |
Vietnam | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 294,095 | 392,668 |
Vietnam | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 604,019 | 360,953 |
China | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 8,317,750 | 8,141,055 |
China | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 7,258,104 | 7,385,136 |
China | Due from banks and loans at amortized cost | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,816,320 | 3,221,442 |
China | Due from banks and loans at amortized cost | Retail | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,211,857 | 974,568 |
China | Due from banks and loans at amortized cost | Government | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 445,526 | 546,597 |
China | Due from banks and loans at amortized cost | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,758,888 | 2,621,744 |
China | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 25,513 | 20,785 |
China | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
China | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
China | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
China | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 220,837 | 104,853 |
China | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 798,068 | 616,143 |
China | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 40,741 | 34,923 |
Other country | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 12,379,028 | 9,435,235 |
Other country | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 9,372,599 | 7,792,637 |
Other country | Due from banks and loans at amortized cost | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,760,926 | 1,741,278 |
Other country | Due from banks and loans at amortized cost | Retail | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,047,765 | 652,134 |
Other country | Due from banks and loans at amortized cost | Government | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 460,428 | 170,834 |
Other country | Due from banks and loans at amortized cost | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 6,085,208 | 5,214,060 |
Other country | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 18,272 | 14,331 |
Other country | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 7,872 | 0 |
Other country | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Other country | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 7,872 | 0 |
Other country | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 722,377 | 205,109 |
Other country | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,199,517 | 525,977 |
Other country | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | ₩ 1,076,663 | ₩ 911,512 |
[1] | The following accounts are the net carrying value less provision for doubtful accounts. |
Concentration by industry secto
Concentration by industry sector of financial instrument, net of allowance (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | ₩ 504,806,199 | ₩ 422,866,346 |
Due from banks and loans at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 349,085,837 | 314,340,868 |
Due from banks and loans at amortized cost | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 12,950,561 | 17,935,816 |
Due from banks and loans at amortized cost | Retail | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 152,840,826 | 136,499,558 |
Due from banks and loans at amortized cost | Government | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 19,461,567 | 6,517,215 |
Due from banks and loans at amortized cost | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 140,718,619 | 131,795,992 |
Due from banks and loans at amortized cost | Card receivable | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 23,114,264 | 21,592,287 |
Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,052,346 | 2,079,850 |
Deposits and loans at FVTPL | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 897,525 | 890,660 |
Deposits and loans at FVTPL | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,154,821 | 1,189,190 |
Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 48,512,857 | 40,289,846 |
Securities at fair value through other comprehensive income | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 58,573,094 | 37,677,646 |
Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 45,582,065 | 28,478,136 |
Finance and insurance | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 111,928,180 | 88,022,539 |
Finance and insurance | Due from banks and loans at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 41,298,884 | 32,457,817 |
Finance and insurance | Due from banks and loans at amortized cost | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 12,461,379 | 17,579,099 |
Finance and insurance | Due from banks and loans at amortized cost | Retail | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Finance and insurance | Due from banks and loans at amortized cost | Government | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 19,342,308 | 6,385,776 |
Finance and insurance | Due from banks and loans at amortized cost | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 9,456,194 | 8,456,599 |
Finance and insurance | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 39,003 | 36,343 |
Finance and insurance | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,198,591 | 1,425,488 |
Finance and insurance | Deposits and loans at FVTPL | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 897,525 | 870,656 |
Finance and insurance | Deposits and loans at FVTPL | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,301,066 | 554,832 |
Finance and insurance | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 29,826,338 | 25,067,491 |
Finance and insurance | Securities at fair value through other comprehensive income | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 28,673,958 | 22,436,768 |
Finance and insurance | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 9,930,409 | 6,634,975 |
Manufacturing | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 51,517,119 | 47,825,016 |
Manufacturing | Due from banks and loans at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 44,994,657 | 44,170,108 |
Manufacturing | Due from banks and loans at amortized cost | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 2,219 |
Manufacturing | Due from banks and loans at amortized cost | Retail | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Manufacturing | Due from banks and loans at amortized cost | Government | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Manufacturing | Due from banks and loans at amortized cost | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 44,781,794 | 43,957,565 |
Manufacturing | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 212,863 | 210,324 |
Manufacturing | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 505,198 | 213,715 |
Manufacturing | Deposits and loans at FVTPL | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Manufacturing | Deposits and loans at FVTPL | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 505,198 | 213,715 |
Manufacturing | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,466,874 | 1,646,132 |
Manufacturing | Securities at fair value through other comprehensive income | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,500,514 | 1,695,624 |
Manufacturing | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 49,876 | 99,437 |
Retail and wholesale | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 19,082,218 | 19,287,593 |
Retail and wholesale | Due from banks and loans at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 17,175,280 | 17,589,602 |
Retail and wholesale | Due from banks and loans at amortized cost | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail and wholesale | Due from banks and loans at amortized cost | Retail | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail and wholesale | Due from banks and loans at amortized cost | Government | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail and wholesale | Due from banks and loans at amortized cost | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 17,004,407 | 17,420,532 |
Retail and wholesale | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 170,873 | 169,070 |
Retail and wholesale | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 120,636 | 209,631 |
Retail and wholesale | Deposits and loans at FVTPL | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail and wholesale | Deposits and loans at FVTPL | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 120,636 | 209,631 |
Retail and wholesale | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,112,688 | 1,185,571 |
Retail and wholesale | Securities at fair value through other comprehensive income | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 673,614 | 302,789 |
Retail and wholesale | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Real estate and service | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 32,130,233 | 28,676,897 |
Real estate and service | Due from banks and loans at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 30,080,295 | 27,055,617 |
Real estate and service | Due from banks and loans at amortized cost | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 300 |
Real estate and service | Due from banks and loans at amortized cost | Retail | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Real estate and service | Due from banks and loans at amortized cost | Government | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,295 | 2,795 |
Real estate and service | Due from banks and loans at amortized cost | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 30,029,000 | 27,009,286 |
Real estate and service | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 49,000 | 43,236 |
Real estate and service | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 7,872 | 22,597 |
Real estate and service | Deposits and loans at FVTPL | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 20,004 |
Real estate and service | Deposits and loans at FVTPL | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 7,872 | 2,593 |
Real estate and service | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 350,720 | 342,124 |
Real estate and service | Securities at fair value through other comprehensive income | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 807,274 | 480,979 |
Real estate and service | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 884,072 | 775,580 |
Construction service | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 6,033,982 | 4,600,610 |
Construction service | Due from banks and loans at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,527,266 | 3,314,615 |
Construction service | Due from banks and loans at amortized cost | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Construction service | Due from banks and loans at amortized cost | Retail | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Construction service | Due from banks and loans at amortized cost | Government | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Construction service | Due from banks and loans at amortized cost | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,485,602 | 3,272,406 |
Construction service | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 41,664 | 42,209 |
Construction service | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,500 | 1,621 |
Construction service | Deposits and loans at FVTPL | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Construction service | Deposits and loans at FVTPL | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,500 | 1,621 |
Construction service | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 262,183 | 208,455 |
Construction service | Securities at fair value through other comprehensive income | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,164,947 | 480,585 |
Construction service | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,076,086 | 595,334 |
Lodging and Restaurant | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 6,115,721 | 5,695,381 |
Lodging and Restaurant | Due from banks and loans at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 6,026,780 | 5,633,652 |
Lodging and Restaurant | Due from banks and loans at amortized cost | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Lodging and Restaurant | Due from banks and loans at amortized cost | Retail | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Lodging and Restaurant | Due from banks and loans at amortized cost | Government | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Lodging and Restaurant | Due from banks and loans at amortized cost | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 6,003,383 | 5,610,146 |
Lodging and Restaurant | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 23,397 | 23,506 |
Lodging and Restaurant | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 900 | 900 |
Lodging and Restaurant | Deposits and loans at FVTPL | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Lodging and Restaurant | Deposits and loans at FVTPL | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 900 | 900 |
Lodging and Restaurant | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 75,152 | 60,829 |
Lodging and Restaurant | Securities at fair value through other comprehensive income | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 12,889 | 0 |
Lodging and Restaurant | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Other industry | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 125,008,000 | 92,157,268 |
Other industry | Due from banks and loans at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 52,991,929 | 47,518,415 |
Other industry | Due from banks and loans at amortized cost | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 489,182 | 354,198 |
Other industry | Due from banks and loans at amortized cost | Retail | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Other industry | Due from banks and loans at amortized cost | Government | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 116,964 | 128,644 |
Other industry | Due from banks and loans at amortized cost | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 29,958,239 | 26,066,753 |
Other industry | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 22,427,544 | 20,968,820 |
Other industry | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 215,649 | 205,898 |
Other industry | Deposits and loans at FVTPL | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Other industry | Deposits and loans at FVTPL | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 215,649 | 205,898 |
Other industry | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 14,418,902 | 11,779,244 |
Other industry | Securities at fair value through other comprehensive income | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 23,739,898 | 12,280,901 |
Other industry | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 33,641,622 | 20,372,810 |
Retail customers | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 152,990,746 | 136,601,042 |
Retail customers | Due from banks and loans at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 152,990,746 | 136,601,042 |
Retail customers | Due from banks and loans at amortized cost | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail customers | Due from banks and loans at amortized cost | Retail | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 152,840,826 | 136,499,558 |
Retail customers | Due from banks and loans at amortized cost | Government | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail customers | Due from banks and loans at amortized cost | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 2,705 |
Retail customers | Due from banks and loans at amortized cost | Card receivable | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 149,920 | 98,779 |
Retail customers | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail customers | Deposits and loans at FVTPL | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail customers | Deposits and loans at FVTPL | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail customers | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail customers | Securities at fair value through other comprehensive income | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 0 |
Retail customers | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | ₩ 0 | ₩ 0 |
[1] | The following accounts are the net carrying value less provision for doubtful accounts. |
Market risk management from tra
Market risk management from trading positions (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Shinhan financial group | Average | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | ₩ 908,038 | ₩ 810,429 |
Shinhan financial group | Average | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 508,039 | 425,235 |
Shinhan financial group | Average | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 191,019 | 201,408 |
Shinhan financial group | Average | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 143,317 | 143,202 |
Shinhan financial group | Average | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 57,972 | 34,334 |
Shinhan financial group | Average | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 7,691 | 6,250 |
Shinhan financial group | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 975,167 | 921,373 |
Shinhan financial group | Maximum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 527,349 | 453,644 |
Shinhan financial group | Maximum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 210,589 | 227,167 |
Shinhan financial group | Maximum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 151,779 | 174,702 |
Shinhan financial group | Maximum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 74,892 | 56,834 |
Shinhan financial group | Maximum | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 10,558 | 9,026 |
Shinhan financial group | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 824,803 | 697,271 |
Shinhan financial group | Minimum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 479,121 | 403,195 |
Shinhan financial group | Minimum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 162,595 | 143,238 |
Shinhan financial group | Minimum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 138,543 | 124,292 |
Shinhan financial group | Minimum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 39,591 | 22,045 |
Shinhan financial group | Minimum | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 4,953 | 4,501 |
Shinhan financial group | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 932,817 | 799,676 |
Shinhan financial group | December 31 | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 504,948 | 453,644 |
Shinhan financial group | December 31 | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 210,589 | 143,238 |
Shinhan financial group | December 31 | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 139,562 | 139,617 |
Shinhan financial group | December 31 | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 67,160 | 56,834 |
Shinhan financial group | December 31 | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 10,558 | 6,343 |
Shinhan Bank [Member] | Average | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 47,925 | 43,957 |
Shinhan Bank [Member] | Average | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 21,208 | 22,559 |
Shinhan Bank [Member] | Average | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 18,136 | 12,118 |
Shinhan Bank [Member] | Average | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 24,727 | 39,282 |
Shinhan Bank [Member] | Average | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 161 | 131 |
Shinhan Bank [Member] | Average | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 15 | 17 |
Shinhan Bank [Member] | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 81,553 | 57,462 |
Shinhan Bank [Member] | Maximum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 32,430 | 29,748 |
Shinhan Bank [Member] | Maximum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 49,424 | 25,701 |
Shinhan Bank [Member] | Maximum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 29,085 | 45,738 |
Shinhan Bank [Member] | Maximum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 325 | 511 |
Shinhan Bank [Member] | Maximum | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 104 | 61 |
Shinhan Bank [Member] | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 31,482 | 38,026 |
Shinhan Bank [Member] | Minimum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 12,709 | 16,194 |
Shinhan Bank [Member] | Minimum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 8,171 | 1,976 |
Shinhan Bank [Member] | Minimum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 22,259 | 34,162 |
Shinhan Bank [Member] | Minimum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 60 | 30 |
Shinhan Bank [Member] | Minimum | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 0 | 0 |
Shinhan Bank [Member] | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 47,952 | 54,290 |
Shinhan Bank [Member] | December 31 | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 28,313 | 18,797 |
Shinhan Bank [Member] | December 31 | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 15,386 | 22,212 |
Shinhan Bank [Member] | December 31 | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 25,910 | 34,294 |
Shinhan Bank [Member] | December 31 | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 212 | 261 |
Shinhan Bank [Member] | December 31 | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 10 | 24 |
Shinhan Bank [Member] | December 31 | Portfolio diversification | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | (21,879) | (21,298) |
Shinhan Card | Average | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 1,417 | 1,257 |
Shinhan Card | Average | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 1,417 | 1,257 |
Shinhan Card | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 2,000 | 1,972 |
Shinhan Card | Maximum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 2,000 | 1,972 |
Shinhan Card | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 1,000 | 768 |
Shinhan Card | Minimum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 1,000 | 768 |
Shinhan Card | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 2,000 | 1,269 |
Shinhan Card | December 31 | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 2,000 | 1,269 |
Shinhan Investment | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 9,013 | |
Shinhan Investment | Average | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 38,262 | 74,821 |
Shinhan Investment | Average | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 13,725 | 7,563 |
Shinhan Investment | Average | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 31,330 | 64,107 |
Shinhan Investment | Average | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 4,107 | 5,992 |
Shinhan Investment | Average | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 9,889 | 9,200 |
Shinhan Investment | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 85,597 | 128,261 |
Shinhan Investment | Maximum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 20,857 | 14,314 |
Shinhan Investment | Maximum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 74,421 | 103,846 |
Shinhan Investment | Maximum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 37,970 | 13,798 |
Shinhan Investment | Maximum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 31,711 | 31,810 |
Shinhan Investment | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 5,780 | 11,174 |
Shinhan Investment | Minimum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 5,671 | 3,656 |
Shinhan Investment | Minimum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 15,449 | 6,202 |
Shinhan Investment | Minimum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 368 | 154 |
Shinhan Investment | Minimum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 2,504 | 2,195 |
Shinhan Investment | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 36,732 | 81,658 |
Shinhan Investment | December 31 | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 11,946 | 7,321 |
Shinhan Investment | December 31 | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 25,691 | 43,748 |
Shinhan Investment | December 31 | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 4,369 | 154 |
Shinhan Investment | December 31 | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 9,876 | 31,810 |
Shinhan Investment | December 31 | Portfolio diversification | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | (15,150) | (1,375) |
Shinhan Life Insurance | Average | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 8,765 | 9,013 |
Shinhan Life Insurance | Average | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 1,853 | 2,994 |
Shinhan Life Insurance | Average | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 5,015 | 4,084 |
Shinhan Life Insurance | Average | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 1,581 | 1,111 |
Shinhan Life Insurance | Average | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 316 | 824 |
Shinhan Life Insurance | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 19,442 | 19,084 |
Shinhan Life Insurance | Maximum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 8,856 | 6,410 |
Shinhan Life Insurance | Maximum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 6,520 | 4,933 |
Shinhan Life Insurance | Maximum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 3,434 | 2,825 |
Shinhan Life Insurance | Maximum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 632 | 4,916 |
Shinhan Life Insurance | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 4,814 | 2,419 |
Shinhan Life Insurance | Minimum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 313 | 260 |
Shinhan Life Insurance | Minimum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 4,374 | 2,030 |
Shinhan Life Insurance | Minimum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 3 | 40 |
Shinhan Life Insurance | Minimum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 124 | 89 |
Shinhan Life Insurance | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 8,100 | 5,544 |
Shinhan Life Insurance | December 31 | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 600 | 293 |
Shinhan Life Insurance | December 31 | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 4,978 | 4,793 |
Shinhan Life Insurance | December 31 | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 2,050 | 352 |
Shinhan Life Insurance | December 31 | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 472 | ₩ 106 |
Orange Life insurance | Average | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 18,578 | |
Orange Life insurance | Average | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 18,578 | |
Orange Life insurance | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 23,614 | |
Orange Life insurance | Maximum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 23,614 | |
Orange Life insurance | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 12,577 | |
Orange Life insurance | Minimum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 12,577 | |
Orange Life insurance | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 16,710 | |
Orange Life insurance | December 31 | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | ₩ 16,710 |
Interest rate risk management f
Interest rate risk management from non-trading positions (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Shinhan Bank [Member] | |||
Interest rate risk management from non-trading positions [Line Items] | |||
delta EVE | [1] | ₩ 369,944 | ₩ 930,461 |
delta NII | [2] | 161,385 | 405,501 |
Shinhan Card | |||
Interest rate risk management from non-trading positions [Line Items] | |||
delta EVE | [1] | 696,505 | 773,293 |
delta NII | [2] | 554,499 | 501,272 |
Shinhan Investment | |||
Interest rate risk management from non-trading positions [Line Items] | |||
delta EVE | [1] | 77,436 | 82,568 |
delta NII | [2] | 127,476 | 72,906 |
Shinhan Life Insurance | |||
Interest rate risk management from non-trading positions [Line Items] | |||
delta EVE | [1] | 4,831,042 | 5,268,879 |
delta NII | [2] | 77,000 | ₩ 67,638 |
Orange Life insurance | |||
Interest rate risk management from non-trading positions [Line Items] | |||
delta EVE | [1] | 2,800,603 | |
delta NII | [2] | ₩ 46,372 | |
[1] | EVE is the economic value of equity capital that can arise from changes in interest rates that affect the present value of assets, liabilities and off-balance sheet items by using the Basel III standard based IRRBB method. | ||
[2] | NII is the change in net interest income that can occur over the next year due to changes in interest rates by using the Basel III standard based IRRBB method. |
Foreign currency denominated fi
Foreign currency denominated financial assets and liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
USD | Financial assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | ₩ 38,788,834 | ₩ 33,670,657 |
USD | Cash and due from banks at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 4,235,225 | 4,797,714 |
USD | Due from banks at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 719,812 | 704,195 |
USD | Loan receivables measured at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 479,950 | 347,966 |
USD | Loans at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 18,275,153 | 16,301,367 |
USD | Securities at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 5,391,450 | 3,812,541 |
USD | Derivative assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 342,120 | 133,197 |
USD | Securities at fair value through other comprehensive income | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 4,775,714 | 3,209,293 |
USD | Securities at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,392,901 | 1,405,775 |
USD | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 3,176,509 | 2,958,609 |
USD | Financial liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 37,635,155 | 29,819,598 |
USD | Deposits | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 14,658,624 | 13,333,500 |
USD | Financial liabilities at fair value through profit or loss | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 4,389 |
USD | Financial liabilities designated at fair value through profit or loss(IFRS9) | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,444,254 | 1,168,024 |
USD | Derivative liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 320,176 | 172,556 |
USD | Borrowings | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 8,938,762 | 6,287,797 |
USD | Debt securities issued | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 7,882,293 | 6,168,615 |
USD | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 4,391,046 | 2,684,717 |
USD | Net asset | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,153,679 | 3,851,059 |
USD | Off-balance derivative exposure | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | (1,335,794) | (2,056,586) |
USD | Net position | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | (182,115) | 1,794,473 |
JPY | Financial assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 10,226,650 | 8,473,088 |
JPY | Cash and due from banks at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,532,661 | 1,216,221 |
JPY | Due from banks at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
JPY | Loan receivables measured at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 3,430 |
JPY | Loans at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 8,256,756 | 6,862,146 |
JPY | Securities at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 32,565 | 998 |
JPY | Derivative assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,403 | 285 |
JPY | Securities at fair value through other comprehensive income | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 83,713 | 125,512 |
JPY | Securities at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 183,133 | 128,512 |
JPY | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 136,419 | 135,984 |
JPY | Financial liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 9,886,517 | 8,172,706 |
JPY | Deposits | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 9,057,393 | 7,217,318 |
JPY | Financial liabilities at fair value through profit or loss | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
JPY | Financial liabilities designated at fair value through profit or loss(IFRS9) | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
JPY | Derivative liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 6,466 | 0 |
JPY | Borrowings | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 347,881 | 446,102 |
JPY | Debt securities issued | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 319,041 | 317,125 |
JPY | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 155,736 | 192,161 |
JPY | Net asset | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 340,133 | 300,382 |
JPY | Off-balance derivative exposure | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | (160,734) | (157,445) |
JPY | Net position | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 179,399 | 142,937 |
EUR | Financial assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 2,214,966 | 1,692,852 |
EUR | Cash and due from banks at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 354,686 | 259,631 |
EUR | Due from banks at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
EUR | Loan receivables measured at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 7,872 | 4,127 |
EUR | Loans at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 955,836 | 1,275,174 |
EUR | Securities at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 303,917 | 81,300 |
EUR | Derivative assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 16,922 | 2,299 |
EUR | Securities at fair value through other comprehensive income | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 337,573 | 0 |
EUR | Securities at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 67,080 | 0 |
EUR | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 171,080 | 70,321 |
EUR | Financial liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 2,141,207 | 1,429,296 |
EUR | Deposits | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 843,946 | 727,291 |
EUR | Financial liabilities at fair value through profit or loss | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
EUR | Financial liabilities designated at fair value through profit or loss(IFRS9) | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
EUR | Derivative liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 20,833 | 1,914 |
EUR | Borrowings | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 190,366 | 280,949 |
EUR | Debt securities issued | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 960,890 | 293,708 |
EUR | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 125,172 | 125,434 |
EUR | Net asset | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 73,759 | 263,556 |
EUR | Off-balance derivative exposure | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 273,571 | (217,232) |
EUR | Net position | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 347,330 | 46,324 |
CNY | Financial assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 5,923,432 | 5,942,184 |
CNY | Cash and due from banks at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,714,524 | 1,595,799 |
CNY | Due from banks at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
CNY | Loan receivables measured at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
CNY | Loans at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 3,350,557 | 3,496,937 |
CNY | Securities at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
CNY | Derivative assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 391 | 406 |
CNY | Securities at fair value through other comprehensive income | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 436,236 | 357,682 |
CNY | Securities at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 40,769 | 34,955 |
CNY | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 380,955 | 456,405 |
CNY | Financial liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 5,403,297 | 5,536,419 |
CNY | Deposits | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 4,426,507 | 4,565,067 |
CNY | Financial liabilities at fair value through profit or loss | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
CNY | Financial liabilities designated at fair value through profit or loss(IFRS9) | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
CNY | Derivative liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,163 | 2,089 |
CNY | Borrowings | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 407,767 | 395,719 |
CNY | Debt securities issued | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
CNY | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 567,860 | 573,544 |
CNY | Net asset | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 520,135 | 405,765 |
CNY | Off-balance derivative exposure | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | (114,015) | (34,986) |
CNY | Net position | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 406,120 | 370,779 |
Other | Financial assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 12,976,341 | 10,177,008 |
Other | Cash and due from banks at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,715,443 | 1,654,668 |
Other | Due from banks at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
Other | Loan receivables measured at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
Other | Loans at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 7,960,731 | 5,934,670 |
Other | Securities at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 357,018 | 313,750 |
Other | Derivative assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 80,506 | 11,875 |
Other | Securities at fair value through other comprehensive income | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 917,335 | 728,456 |
Other | Securities at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,482,574 | 1,175,733 |
Other | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 462,734 | 357,856 |
Other | Financial liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 10,040,857 | 8,134,620 |
Other | Deposits | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 6,906,741 | 5,232,529 |
Other | Financial liabilities at fair value through profit or loss | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 474,080 | 458,934 |
Other | Financial liabilities designated at fair value through profit or loss(IFRS9) | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
Other | Derivative liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 15,564 | 4,892 |
Other | Borrowings | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 139,658 | 173,731 |
Other | Debt securities issued | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,526,661 | 1,715,780 |
Other | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 978,153 | 548,754 |
Other | Net asset | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 2,935,484 | 2,042,388 |
Other | Off-balance derivative exposure | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | (844,534) | (164,797) |
Other | Net position | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | ₩ 2,090,950 | ₩ 1,877,591 |
Maturity analysis for financial
Maturity analysis for financial assets held for managing liquidity risk (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Financial assets | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | ₩ 576,625,030 | ₩ 489,102,101 |
Cash and due from banks at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 28,449,571 | 17,408,710 |
Due from banks at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 897,525 | 876,709 |
Loan receivables measured at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 2,230,415 | 1,229,938 |
Loans at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 360,672,557 | 336,320,992 |
Securities at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 49,930,015 | 41,448,653 |
Securities at fair value through other comprehensive income | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 59,499,362 | 38,320,353 |
Securities at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 57,475,129 | 36,599,579 |
Others | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 17,470,456 | 16,897,167 |
Less than 1 month | Financial assets | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 166,121,242 | 138,082,874 |
Less than 1 month | Cash and due from banks at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 25,543,400 | 14,451,366 |
Less than 1 month | Due from banks at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 130,780 | 115,476 |
Less than 1 month | Loan receivables measured at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 29,961 | 290,724 |
Less than 1 month | Loans at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 28,857,297 | 34,025,588 |
Less than 1 month | Securities at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 39,736,655 | 36,043,891 |
Less than 1 month | Securities at fair value through other comprehensive income | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 57,317,802 | 37,519,813 |
Less than 1 month | Securities at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 1,214,108 | 505,417 |
Less than 1 month | Others | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 13,291,239 | 15,130,599 |
1~3 months | Financial assets | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 42,670,989 | 37,008,039 |
1~3 months | Cash and due from banks at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 1,039,822 | 796,510 |
1~3 months | Due from banks at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 150,217 | 131,712 |
1~3 months | Loan receivables measured at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 783,429 | 388,218 |
1~3 months | Loans at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 36,706,993 | 34,254,065 |
1~3 months | Securities at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 1,852,680 | 41,287 |
1~3 months | Securities at fair value through other comprehensive income | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 0 | 12,093 |
1~3 months | Securities at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 2,015,590 | 1,378,525 |
1~3 months | Others | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 122,258 | 5,629 |
3~6 months | Financial assets | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 50,257,451 | 47,158,677 |
3~6 months | Cash and due from banks at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 421,453 | 905,259 |
3~6 months | Due from banks at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 594,643 | 518,109 |
3~6 months | Loan receivables measured at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 12,638 | 42,550 |
3~6 months | Loans at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 46,672,732 | 45,151,571 |
3~6 months | Securities at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 728,518 | 35,677 |
3~6 months | Securities at fair value through other comprehensive income | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 0 | 5,145 |
3~6 months | Securities at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 1,704,574 | 481,193 |
3~6 months | Others | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 122,893 | 19,173 |
6 months ~ 1 year | Financial assets | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 80,063,706 | 72,871,168 |
6 months ~ 1 year | Cash and due from banks at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 1,145,323 | 1,196,790 |
6 months ~ 1 year | Due from banks at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 21,885 | 105,359 |
6 months ~ 1 year | Loan receivables measured at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 142,756 | 201,591 |
6 months ~ 1 year | Loans at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 74,931,639 | 68,239,781 |
6 months ~ 1 year | Securities at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 1,120,791 | 403,849 |
6 months ~ 1 year | Securities at fair value through other comprehensive income | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 40,145 | 20,291 |
6 months ~ 1 year | Securities at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 2,098,374 | 2,270,447 |
6 months ~ 1 year | Others | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 562,793 | 433,060 |
1~5 years | Financial assets | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 124,645,298 | 105,013,162 |
1~5 years | Cash and due from banks at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 50,070 | 1,526 |
1~5 years | Due from banks at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 0 | 6,053 |
1~5 years | Loan receivables measured at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 773,305 | 257,873 |
1~5 years | Loans at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 103,334,861 | 87,760,434 |
1~5 years | Securities at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 2,716,677 | 1,572,268 |
1~5 years | Securities at fair value through other comprehensive income | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 30,195 | 255,091 |
1~5 years | Securities at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 17,491,024 | 15,067,164 |
1~5 years | Others | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 249,166 | 92,753 |
More than 5 years | Financial assets | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 112,866,344 | 88,968,181 |
More than 5 years | Cash and due from banks at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 249,503 | 57,259 |
More than 5 years | Due from banks at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 0 | 0 |
More than 5 years | Loan receivables measured at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 488,326 | 48,982 |
More than 5 years | Loans at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 70,169,035 | 66,889,553 |
More than 5 years | Securities at FVTPL | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 3,774,694 | 3,351,681 |
More than 5 years | Securities at fair value through other comprehensive income | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 2,111,220 | 507,920 |
More than 5 years | Securities at amortized cost | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 32,951,459 | 16,896,833 |
More than 5 years | Others | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | ₩ 3,122,107 | ₩ 1,215,953 |
[1] | These amounts include cash flows of principal and interest on financial assets. |
Maturity analysis for non-deriv
Maturity analysis for non-derivative financial liabilities and off balance (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Financial liabilities | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | ₩ 453,598,265 | ₩ 396,725,283 |
Deposits | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 299,576,316 | 269,256,885 |
Financial liabilities at fair value through profit or loss | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 1,637,983 | 1,423,499 |
Borrowings | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 34,887,838 | 30,002,199 |
Debt securities issued | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 79,832,430 | 67,299,620 |
Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 9,409,456 | 8,535,800 |
Others | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 28,254,242 | 20,207,280 |
Off balance [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 183,214,605 | 170,912,416 |
Financial guarantee contracts | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 4,698,558 | 4,413,874 |
Loan commitments and other | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 178,516,047 | 166,498,542 |
Less than 1 month | Financial liabilities | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 196,005,922 | 161,646,904 |
Less than 1 month | Deposits | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 149,773,324 | 123,166,403 |
Less than 1 month | Financial liabilities at fair value through profit or loss | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 1,558,186 | 1,402,726 |
Less than 1 month | Borrowings | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 15,314,322 | 13,542,317 |
Less than 1 month | Debt securities issued | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 5,367,601 | 3,779,407 |
Less than 1 month | Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 487,743 | 332,249 |
Less than 1 month | Others | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 23,504,746 | 19,423,802 |
Less than 1 month | Off balance [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 183,214,605 | 170,912,416 |
Less than 1 month | Financial guarantee contracts | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 4,698,558 | 4,413,874 |
Less than 1 month | Loan commitments and other | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 178,516,047 | 166,498,542 |
1~3 months | Financial liabilities | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 39,707,074 | 33,376,854 |
1~3 months | Deposits | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 31,415,213 | 24,736,962 |
1~3 months | Financial liabilities at fair value through profit or loss | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 1,096 | 193 |
1~3 months | Borrowings | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 3,690,803 | 2,879,693 |
1~3 months | Debt securities issued | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 4,370,308 | 5,433,266 |
1~3 months | Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 110,965 | 303,996 |
1~3 months | Others | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 118,689 | 22,744 |
1~3 months | Off balance [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
1~3 months | Financial guarantee contracts | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
1~3 months | Loan commitments and other | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
3~6 months | Financial liabilities | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 47,506,216 | 42,220,043 |
3~6 months | Deposits | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 38,077,790 | 34,096,334 |
3~6 months | Financial liabilities at fair value through profit or loss | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 12,095 | 53 |
3~6 months | Borrowings | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 3,608,178 | 2,207,560 |
3~6 months | Debt securities issued | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 4,876,333 | 5,633,286 |
3~6 months | Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 678,041 | 171,927 |
3~6 months | Others | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 253,779 | 110,883 |
3~6 months | Off balance [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
3~6 months | Financial guarantee contracts | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
3~6 months | Loan commitments and other | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
6 months ~ 1 year | Financial liabilities | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 76,900,651 | 70,712,125 |
6 months ~ 1 year | Deposits | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 61,746,589 | 56,060,670 |
6 months ~ 1 year | Financial liabilities at fair value through profit or loss | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 17,997 | 10,403 |
6 months ~ 1 year | Borrowings | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 4,028,183 | 2,965,132 |
6 months ~ 1 year | Debt securities issued | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 8,945,916 | 10,468,221 |
6 months ~ 1 year | Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 1,651,198 | 1,061,443 |
6 months ~ 1 year | Others | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 510,768 | 146,256 |
6 months ~ 1 year | Off balance [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
6 months ~ 1 year | Financial guarantee contracts | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
6 months ~ 1 year | Loan commitments and other | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
1~5 years | Financial liabilities | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 75,901,665 | 76,860,079 |
1~5 years | Deposits | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 14,972,484 | 28,316,319 |
1~5 years | Financial liabilities at fair value through profit or loss | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 48,609 | 10,124 |
1~5 years | Borrowings | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 5,244,109 | 5,854,335 |
1~5 years | Debt securities issued | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 49,804,651 | 36,694,200 |
1~5 years | Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 5,414,944 | 5,552,824 |
1~5 years | Others | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 416,868 | 432,277 |
1~5 years | Off balance [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
1~5 years | Financial guarantee contracts | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
1~5 years | Loan commitments and other | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
More than 5 years | Financial liabilities | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 17,576,737 | 11,909,278 |
More than 5 years | Deposits | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 3,590,916 | 2,880,197 |
More than 5 years | Financial liabilities at fair value through profit or loss | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 0 | 0 |
More than 5 years | Borrowings | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 3,002,243 | 2,553,162 |
More than 5 years | Debt securities issued | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 6,467,621 | 5,291,240 |
More than 5 years | Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 1,066,565 | 1,113,361 |
More than 5 years | Others | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 3,449,392 | 71,318 |
More than 5 years | Off balance [Member] | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
More than 5 years | Financial guarantee contracts | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | 0 | 0 |
More than 5 years | Loan commitments and other | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | [1] | ₩ 0 | ₩ 0 |
[1] | These amounts include cash flows of principal and interest on financial liabilities. |
Maturity analysis for derivativ
Maturity analysis for derivatives (Details) - Derivatives - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of maturity analysis for derivatives [Line Items] | ||
Derivative financial instruments, undiscounted cash flows | ₩ 807,217 | ₩ (538,977) |
Less than 1 month | ||
Disclosure of maturity analysis for derivatives [Line Items] | ||
Derivative financial instruments, undiscounted cash flows | 407,885 | (451,926) |
1~3 months | ||
Disclosure of maturity analysis for derivatives [Line Items] | ||
Derivative financial instruments, undiscounted cash flows | 9,640 | (5,741) |
3~6 months | ||
Disclosure of maturity analysis for derivatives [Line Items] | ||
Derivative financial instruments, undiscounted cash flows | 34,228 | (26,570) |
6 months ~ 1 year | ||
Disclosure of maturity analysis for derivatives [Line Items] | ||
Derivative financial instruments, undiscounted cash flows | 18,196 | (6,552) |
1~5 years | ||
Disclosure of maturity analysis for derivatives [Line Items] | ||
Derivative financial instruments, undiscounted cash flows | 160,292 | (37,532) |
More than 5 years | ||
Disclosure of maturity analysis for derivatives [Line Items] | ||
Derivative financial instruments, undiscounted cash flows | ₩ 176,976 | ₩ (10,656) |
Fair Value measurement of finan
Fair Value measurement of financial assets measured at fair value (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | ₩ 115,373,470 | ₩ 83,642,549 |
Due from banks at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 897,525 | 870,656 |
Loan receivables measured at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 2,154,821 | 1,209,194 |
Financial assets at fair value through profit or loss | Debt securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 48,401,142 | 40,134,965 |
Financial assets at fair value through profit or loss | Equity securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 1,597,940 | 1,165,070 |
Financial assets at fair value through profit or loss | Gold deposits | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 111,715 | 154,881 |
Derivative assets | Trading purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 2,586,068 | 1,727,321 |
Derivative assets | Hedging purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 243,206 | 66,292 |
Securities at fair value through other comprehensive income | Debt securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 58,573,094 | 37,677,645 |
Securities at fair value through other comprehensive income | Equity securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 807,959 | 636,525 |
Level 1 | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 24,418,112 | 16,498,146 |
Level 1 | Due from banks at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 1 | Loan receivables measured at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 1 | Financial assets at fair value through profit or loss | Debt securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 6,304,161 | 5,084,767 |
Level 1 | Financial assets at fair value through profit or loss | Equity securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 890,714 | 528,113 |
Level 1 | Financial assets at fair value through profit or loss | Gold deposits | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 111,715 | 154,881 |
Level 1 | Derivative assets | Trading purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 35,711 | 62,275 |
Level 1 | Derivative assets | Hedging purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 1 | Securities at fair value through other comprehensive income | Debt securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 16,892,704 | 10,532,244 |
Level 1 | Securities at fair value through other comprehensive income | Equity securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 183,107 | 135,866 |
Level 2 | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 78,068,155 | 59,350,470 |
Level 2 | Due from banks at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 66,870 | 57,236 |
Level 2 | Loan receivables measured at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 686,446 | 891,636 |
Level 2 | Financial assets at fair value through profit or loss | Debt securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 33,145,583 | 29,552,429 |
Level 2 | Financial assets at fair value through profit or loss | Equity securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 195,395 | 143,139 |
Level 2 | Financial assets at fair value through profit or loss | Gold deposits | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 2 | Derivative assets | Trading purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 2,088,307 | 1,548,769 |
Level 2 | Derivative assets | Hedging purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 240,430 | 61,706 |
Level 2 | Securities at fair value through other comprehensive income | Debt securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 41,645,124 | 27,095,555 |
Level 2 | Securities at fair value through other comprehensive income | Equity securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 3 | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 12,887,203 | 7,793,933 |
Level 3 | Due from banks at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 830,655 | 813,420 |
Level 3 | Loan receivables measured at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 1,468,375 | 317,558 |
Level 3 | Financial assets at fair value through profit or loss | Debt securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 8,951,398 | 5,497,769 |
Level 3 | Financial assets at fair value through profit or loss | Equity securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 511,831 | 493,818 |
Level 3 | Financial assets at fair value through profit or loss | Gold deposits | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 3 | Derivative assets | Trading purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 462,050 | 116,277 |
Level 3 | Derivative assets | Hedging purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 2,776 | 4,586 |
Level 3 | Securities at fair value through other comprehensive income | Debt securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 35,266 | 49,846 |
Level 3 | Securities at fair value through other comprehensive income | Equity securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | ₩ 624,852 | ₩ 500,659 |
Fair Value measurement of fin_2
Fair Value measurement of financial liabilities measured at fair value (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | ₩ 13,344,925 | ₩ 12,395,998 |
Financial liabilities measured at FVTPL | Securities sold | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 1,164,697 | 961,372 |
Financial liabilities measured at FVTPL | Gold deposits | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 467,760 | 458,934 |
Financial liabilities designated at fair value through profit or loss(IFRS9) | Derivatives-combined securities | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 9,409,456 | 8,535,800 |
Derivative liabilities | Trading purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 2,001,004 | 1,846,670 |
Derivative liabilities | Hedging purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 302,008 | 593,222 |
Level 1 | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 1,679,311 | 1,536,466 |
Level 1 | Financial liabilities measured at FVTPL | Securities sold | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 1,164,697 | 961,372 |
Level 1 | Financial liabilities measured at FVTPL | Gold deposits | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 467,760 | 458,934 |
Level 1 | Financial liabilities designated at fair value through profit or loss(IFRS9) | Derivatives-combined securities | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 1 | Derivative liabilities | Trading purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 46,854 | 116,160 |
Level 1 | Derivative liabilities | Hedging purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 2 | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 2,845,155 | 3,378,710 |
Level 2 | Financial liabilities measured at FVTPL | Securities sold | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 2 | Financial liabilities measured at FVTPL | Gold deposits | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 2 | Financial liabilities designated at fair value through profit or loss(IFRS9) | Derivatives-combined securities | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 897,967 | 1,702,063 |
Level 2 | Derivative liabilities | Trading purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 1,834,930 | 1,444,545 |
Level 2 | Derivative liabilities | Hedging purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 112,258 | 232,102 |
Level 3 | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 8,820,459 | 7,480,822 |
Level 3 | Financial liabilities measured at FVTPL | Securities sold | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 3 | Financial liabilities measured at FVTPL | Gold deposits | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 0 | 0 |
Level 3 | Financial liabilities designated at fair value through profit or loss(IFRS9) | Derivatives-combined securities | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 8,511,489 | 6,833,737 |
Level 3 | Derivative liabilities | Trading purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 119,220 | 285,965 |
Level 3 | Derivative liabilities | Hedging purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | ₩ 189,750 | ₩ 361,120 |
Changes in carrying values of f
Changes in carrying values of financial instruments classified as Level 3 (Details) - Level 3 - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Recognized in profit (loss) for the year | ₩ (172,063) | ₩ 248,516 | |
Financial assets at fair value through profit or loss | |||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Beginning balance | 7,122,565 | 5,831,369 | |
Recognized in profit (loss) for the year | 61,738 | 359,160 | |
Recognized in other comprehensive income (loss) for the year | 125,037 | 0 | |
Purchase | 5,941,978 | 2,143,853 | |
Issue | 0 | 0 | |
Settlement | (2,332,781) | (1,212,202) | |
Reclassification | 0 | 0 | |
Transfer to level3 | [1] | 162,906 | 1,370 |
Transfer from level3 | [1] | (27,075) | (985) |
Business combination (Note 50) | 707,891 | 0 | |
Ending balance | 11,762,259 | 7,122,565 | |
Financial assets designated at fair value through profit or loss(IFRS9) | |||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Beginning balance | 0 | 152,091 | |
Recognized in profit (loss) for the year | 3,390 | ||
Recognized in other comprehensive income (loss) for the year | 0 | ||
Purchase | 0 | ||
Issue | 0 | ||
Settlement | (155,481) | ||
Reclassification | 0 | ||
Transfer to level3 | [1] | 0 | |
Transfer from level3 | [1] | 0 | |
Business combination (Note 50) | 0 | ||
Ending balance | 0 | ||
Securities at fair value through other comprehensive income | |||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Beginning balance | 550,505 | 621,207 | |
Recognized in profit (loss) for the year | 1,461 | 4,692 | |
Recognized in other comprehensive income (loss) for the year | 34,716 | 29,388 | |
Purchase | 103,564 | 2,510 | |
Issue | 0 | 0 | |
Settlement | (22,842) | (107,292) | |
Reclassification | (7,286) | 0 | |
Transfer to level3 | [1] | 0 | 0 |
Transfer from level3 | [1] | 0 | 0 |
Business combination (Note 50) | 0 | 0 | |
Ending balance | 660,118 | 550,505 | |
Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Beginning balance | (6,833,737) | (7,273,754) | |
Recognized in profit (loss) for the year | (826,594) | 10,090 | |
Recognized in other comprehensive income (loss) for the year | (13,654) | 235 | |
Purchase | 0 | 0 | |
Issue | (8,821,680) | (7,127,670) | |
Settlement | 7,984,176 | 7,557,362 | |
Reclassification | 0 | 0 | |
Transfer to level3 | [1] | 0 | 0 |
Transfer from level3 | [1] | 0 | 0 |
Business combination (Note 50) | 0 | 0 | |
Ending balance | (8,511,489) | (6,833,737) | |
Derivative assets and liabilities, net | |||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Beginning balance | (526,223) | (250,662) | |
Recognized in profit (loss) for the year | 591,332 | (128,816) | |
Recognized in other comprehensive income (loss) for the year | 0 | 0 | |
Purchase | 2,221 | 2,236 | |
Issue | 0 | 0 | |
Settlement | 88,312 | (148,987) | |
Reclassification | 0 | 0 | |
Transfer to level3 | [1] | 248 | 6 |
Transfer from level3 | [1] | (34) | 0 |
Business combination (Note 50) | 0 | 0 | |
Ending balance | ₩ 155,856 | ₩ (526,223) | |
[1] | Changes in levels for the financial instruments occurred due to the change in the availability of observable market data. The Group reviews the levels of financial instruments as of the end of the reporting period considering the related events and circumstances in the reporting period. |
Recognized profit or loss of th
Recognized profit or loss of the changes in carrying value of financial instruments classified as Level 3 (Details) - Level 3 - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Recognized profit or loss of the changes in carrying value of financial instruments classified as Level 3 [Line Items] | ||
Amounts recognized in profit or loss | ₩ (172,063) | ₩ 248,516 |
Recognized profit or loss from the financial instruments held as of December 31 | 68,537 | 434,799 |
Gain (loss) on financial assets at fair value through profit or loss | ||
Recognized profit or loss of the changes in carrying value of financial instruments classified as Level 3 [Line Items] | ||
Amounts recognized in profit or loss | 544,849 | 179,658 |
Recognized profit or loss from the financial instruments held as of December 31 | 23,912 | (14,586) |
Gain (loss) on financial assets designated at fair value through profit or loss | ||
Recognized profit or loss of the changes in carrying value of financial instruments classified as Level 3 [Line Items] | ||
Amounts recognized in profit or loss | (826,594) | 10,090 |
Recognized profit or loss from the financial instruments held as of December 31 | (66,113) | 392,096 |
Gain (loss) on securities at fair value through other comprehensive income | ||
Recognized profit or loss of the changes in carrying value of financial instruments classified as Level 3 [Line Items] | ||
Amounts recognized in profit or loss | 1,461 | 2,575 |
Recognized profit or loss from the financial instruments held as of December 31 | 1,191 | 0 |
Provision for credit loss allowance | ||
Recognized profit or loss of the changes in carrying value of financial instruments classified as Level 3 [Line Items] | ||
Amounts recognized in profit or loss | 17 | |
Recognized profit or loss from the financial instruments held as of December 31 | (28) | |
Other operating income (expenses) | ||
Recognized profit or loss of the changes in carrying value of financial instruments classified as Level 3 [Line Items] | ||
Amounts recognized in profit or loss | 108,221 | 56,176 |
Recognized profit or loss from the financial instruments held as of December 31 | ₩ 109,547 | ₩ 57,317 |
Valuation techniques and inputs
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Level 2 | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 78,068,155 | ₩ 59,350,470 | |
Level 2 | Financial assets at fair value through profit or loss | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 34,094,294 | ₩ 30,644,440 | |
Level 2 | Financial assets at fair value through profit or loss | Debt securities | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | DCF | DCF |
Carrying value | ₩ 33,898,899 | ₩ 30,501,301 | |
Significant unobservable inputs and range | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | Discount rate | |
Level 2 | Financial assets at fair value through profit or loss | Equity securities | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | NAV | NAV |
Carrying value | ₩ 195,395 | ₩ 143,139 | |
Significant unobservable inputs and range | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | Price of underlying assets | |
Level 2 | Derivative assets | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 2,328,737 | ₩ 1,610,475 | |
Level 2 | Derivative assets | Trading purpose | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model, DCF | Option model, DCF |
Carrying value | ₩ 2,088,307 | ₩ 1,548,769 | |
Significant unobservable inputs and range | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | |
Level 2 | Derivative assets | Hedging purpose | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model, DCF | Option model, DCF |
Carrying value | ₩ 240,430 | ₩ 61,706 | |
Significant unobservable inputs and range | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | |
Level 2 | Securities at fair value through other comprehensive income | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | DCF, NAV | DCF |
Carrying value | ₩ 41,645,124 | ₩ 27,095,555 | |
Significant unobservable inputs and range | Discount rate, growth rate and price of underlying assets such as stock, bonds, etc. | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | |
Level 3 | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 12,887,203 | ₩ 7,793,933 | |
Level 3 | Financial assets at fair value through profit or loss | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 11,762,259 | ₩ 7,122,565 | |
Level 3 | Financial assets at fair value through profit or loss | Debt securities | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | DCF, Option model | DCF, Option model |
Carrying value | ₩ 11,250,428 | ₩ 6,628,747 | |
Significant unobservable inputs and range | The volatility of the underlying asset(0.00%~46.36%) Discount rate(1.14%~30.70%) | The volatility of the underlying asset(16.39%~42.56%) Correlations(1.26%~39.45%) | |
Level 3 | Financial assets at fair value through profit or loss | Equity securities | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | DCF, NAV | DCF, NAV |
Carrying value | ₩ 511,831 | ₩ 493,818 | |
Significant unobservable inputs and range | The volatility of the underlying asset(1.00%~43.00%) Correlations(5.00%~88.00%) Discount rate(5.06%~15.42%) | The volatility of the underlying asset(5.80%~41.00%) Correlations(0.00%~74.00%) | |
Level 3 | Derivative assets | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 464,826 | ₩ 120,863 | |
Level 3 | Derivative assets | Equity and foreign exchange related | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model | Option model |
Carrying value | ₩ 145,011 | ₩ 43,183 | |
Significant unobservable inputs and range | The volatility of the underlying asset(1.51%~56.00%) Correlations(-42.00%~82.00%) | The volatility of the underlying asset(2.20%~38.00%) Correlations(12.00%~82.00%) | |
Level 3 | Derivative assets | Interest rates related | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model | Option model |
Carrying value | ₩ 30,983 | ₩ 44,848 | |
Significant unobservable inputs and range | The volatility of the underlying asset(0.50%~0.67%) Regression coefficient(1.30%~1.57%) Correlations(59.53%) | The volatility of the underlying asset(0.00%~1.00%) Regression coefficient(0.42%~1.65%) Correlations(44.93%~91.00%) | |
Level 3 | Derivative assets | Credit and commodity related | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model | Option model |
Carrying value | ₩ 288,832 | ₩ 32,832 | |
Significant unobservable inputs and range | The volatility of the underlying asset(0.00%~39.00%) Correlations(0.00%~93.00%) | The volatility of the underlying asset(1.00%~33.00%) Correlations(33.00%~67.00%) | |
Level 3 | Securities at fair value through other comprehensive income | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 660,118 | ₩ 550,505 | |
Level 3 | Securities at fair value through other comprehensive income | Debt securities | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | DCF | DCF |
Carrying value | ₩ 35,266 | ₩ 49,846 | |
Significant unobservable inputs and range | Discount rate(7.78%~19.32%) | Discount rate(8.43%~17.40%) | |
Level 3 | Securities at fair value through other comprehensive income | Equity securities | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | NAV | NAV |
Carrying value | ₩ 624,852 | ₩ 500,659 | |
Significant unobservable inputs and range | Growth rate(0.00%~2.00%) | Growth rate(0.00%~3.00%) | |
[1] | Option model that the Group uses in derivative valuation includes Black-Scholes model, Hull-White model, Monte Carlo simulation, etc. |
Valuation techniques and inpu_2
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Level 2 | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 2,845,155 | ₩ 3,378,710 | |
Level 2 | Borrowings | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | DCF | DCF |
Carrying value | ₩ 897,967 | ₩ 1,702,063 | |
Significant unobservable inputs and range | Discount rate | Discount rate | |
Level 2 | Derivative liabilities | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 1,947,188 | ₩ 1,676,647 | |
Level 2 | Derivative liabilities | Trading purpose | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model, DCF | Option model, DCF |
Carrying value | ₩ 1,834,930 | ₩ 1,444,545 | |
Significant unobservable inputs and range | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | |
Level 2 | Derivative liabilities | Hedging purpose | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model, DCF | Option model, DCF |
Carrying value | ₩ 112,258 | ₩ 232,102 | |
Significant unobservable inputs and range | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc. | |
Level 3 | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 8,820,459 | ₩ 7,480,822 | |
Level 3 | Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model | Option model |
Carrying value | ₩ 8,511,489 | ₩ 6,833,737 | |
Significant unobservable inputs and range | The volatility of the underlying asset(0.00%~140.00%) Correlations(-46.00%~93%) | The volatility of the underlying asset(0.00%~107.00%) Correlations(-42.00%~93%) | |
Level 3 | Derivative liabilities | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 308,970 | ₩ 647,085 | |
Level 3 | Derivative liabilities | Equity and foreign exchange related | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model | Option model |
Carrying value | ₩ 30,412 | ₩ 199,504 | |
Significant unobservable inputs and range | The volatility of the underlying asset(0.00%~140.00%) Correlations(0.00%~78.00%) | The volatility of the underlying asset(2.20%~98.00%) Correlations(-3.00%~82.00%) | |
Level 3 | Derivative liabilities | Interest rates related | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model | Option model |
Carrying value | ₩ 213,170 | ₩ 374,976 | |
Significant unobservable inputs and range | The volatility of the underlying asset(0.00%~55.00%) Regression coefficient(1.30%~2.77%) Correlations(45.06%~90.34%) | The volatility of the underlying asset(0.00%~33.00%) Regression coefficient(0.42%~2.77%) Correlations(28.15%~91.00%) | |
Level 3 | Derivative liabilities | Credit and commodity related | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Valuation technique | [1] | Option model | Option model |
Carrying value | ₩ 65,388 | ₩ 72,605 | |
Significant unobservable inputs and range | The volatility of the underlying asset(0.00%~109.00%) Correlations(-46.00%~93.00%) | The volatility of the underlying asset(1.00%~107.00%) Correlations(-20.00%~93.00%) | |
[1] | Option model that the Group uses in derivative valuation includes Black-Scholes model, Hull-White model, Monte Carlo simulation, etc. |
Sensitivity analysis for fair v
Sensitivity analysis for fair value measurements in Level 3 (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financial assets | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Assets | ₩ 105,158 | ₩ 97,760 |
Unfavorable Changes - Financial Assets | (67,985) | (65,094) |
Financial liabilities | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Liabilities | 72,054 | 216,150 |
Unfavorable Changes - Financial Liabilities | (75,829) | (219,428) |
Effects on profit or loss for the period | Financial assets | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Assets | 68,900 | 73,875 |
Unfavorable Changes - Financial Assets | (45,802) | (47,863) |
Effects on profit or loss for the period | Financial assets at fair value through profit or loss | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Assets | 44,108 | 45,760 |
Unfavorable Changes - Financial Assets | (23,618) | (20,662) |
Effects on profit or loss for the period | Derivative assets | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Assets | 24,792 | 28,115 |
Unfavorable Changes - Financial Assets | (22,184) | (27,201) |
Effects on profit or loss for the period | Financial liabilities designated at fair value through profit or loss(IFRS9) | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Liabilities | 55,224 | 112,212 |
Unfavorable Changes - Financial Liabilities | (53,294) | (131,080) |
Effects on profit or loss for the period | Derivative liabilities | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Liabilities | 16,830 | 103,938 |
Unfavorable Changes - Financial Liabilities | (22,535) | (88,348) |
Effects on other comprehensive income for the period | Securities at fair value through other comprehensive income | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Assets | 36,258 | 23,885 |
Unfavorable Changes - Financial Assets | ₩ (22,183) | ₩ (17,231) |
Carrying value and the fair val
Carrying value and the fair value of financial instruments measured at amortized cost (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Loans at amortized cost: | ||
Retails | ₩ 134,423,473 | ₩ 120,832,081 |
Corporations | 161,029,877 | 152,164,476 |
Credit card | 24,024,491 | 22,447,614 |
Securities at amortized cost: | ||
Other financial assets | 17,477,778 | 16,837,141 |
Borrowings debts: | ||
Borrowings | 34,863,156 | 29,818,542 |
Debts: | ||
Other financial liabilities | 28,231,911 | 20,545,181 |
Carrying value | ||
Assets: | ||
Deposits at amortized cost | 25,840,858 | 14,731,395 |
Loans at amortized cost: | ||
Retails | 134,510,282 | 125,265,676 |
Corporations | 159,560,873 | 146,302,462 |
Public and other funding loans | 3,427,855 | 2,868,154 |
Loans between banks | 2,629,999 | 3,579,169 |
Credit card | 23,115,970 | 21,594,011 |
Securities at amortized cost: | ||
Government bonds | 30,385,084 | 18,000,454 |
Financial institution bonds | 4,770,204 | 2,171,623 |
Debentures | 10,426,777 | 8,306,059 |
Other financial assets | 17,477,778 | 16,837,141 |
Financial assets at amortized cost, Total | 412,145,680 | 359,656,144 |
Deposit liabilities: | ||
Demand deposits | 116,282,707 | 106,160,834 |
Time deposits | 158,427,447 | 139,644,763 |
Certificate of deposit | 9,707,791 | 9,247,088 |
Issued bill deposit | 4,579,587 | 4,087,530 |
CMA Deposits | 3,987,372 | 4,084,709 |
Other | 1,889,352 | 1,775,266 |
Borrowings debts: | ||
Call-money | 712,247 | 1,425,162 |
Bills sold | 19,070 | 14,536 |
Bonds sold under repurchase agreements | 9,089,736 | 7,614,659 |
Borrowings | 25,042,103 | 20,764,185 |
Debts: | ||
Borrowings in won | 64,717,212 | 54,769,670 |
Borrowings in foreign currency | 10,646,152 | 8,458,029 |
Other financial liabilities | 28,231,911 | 20,545,181 |
Financial liabilities at amortized cost, Total | 433,332,687 | 378,591,612 |
Fair value | ||
Assets: | ||
Deposits at amortized cost | 25,852,497 | 14,731,327 |
Loans at amortized cost: | ||
Retails | 135,620,862 | 126,266,820 |
Corporations | 160,818,205 | 147,420,557 |
Public and other funding loans | 3,446,485 | 2,891,202 |
Loans between banks | 2,644,603 | 3,580,576 |
Credit card | 23,489,180 | 21,930,174 |
Securities at amortized cost: | ||
Government bonds | 32,242,339 | 18,974,413 |
Financial institution bonds | 4,882,081 | 2,195,425 |
Debentures | 10,878,059 | 8,506,853 |
Other financial assets | 17,493,331 | 16,859,986 |
Financial assets at amortized cost, Total | 417,367,642 | 363,357,333 |
Deposit liabilities: | ||
Demand deposits | 116,282,707 | 106,160,834 |
Time deposits | 158,478,949 | 139,580,314 |
Certificate of deposit | 9,714,806 | 9,298,457 |
Issued bill deposit | 4,579,425 | 4,087,338 |
CMA Deposits | 3,987,372 | 4,084,709 |
Other | 1,889,700 | 1,775,276 |
Borrowings debts: | ||
Call-money | 712,247 | 1,425,162 |
Bills sold | 19,035 | 14,506 |
Bonds sold under repurchase agreements | 9,089,736 | 7,614,659 |
Borrowings | 25,205,292 | 20,844,318 |
Debts: | ||
Borrowings in won | 65,322,413 | 55,240,467 |
Borrowings in foreign currency | 10,783,027 | 8,265,842 |
Other financial liabilities | 27,949,306 | 20,233,920 |
Financial liabilities at amortized cost, Total | 434,014,015 | 378,625,802 |
Level 1 | ||
Assets: | ||
Deposits at amortized cost | 3,133,425 | 3,364,995 |
Loans at amortized cost: | ||
Retails | 0 | 0 |
Corporations | 108 | 0 |
Public and other funding loans | 0 | 0 |
Loans between banks | 0 | 590 |
Credit card | 0 | 0 |
Securities at amortized cost: | ||
Government bonds | 20,524,820 | 7,887,135 |
Financial institution bonds | 2,252,484 | 719,925 |
Debentures | 0 | 0 |
Other financial assets | 526,813 | 74,625 |
Financial assets at amortized cost, Total | 26,437,650 | 12,047,270 |
Deposit liabilities: | ||
Demand deposits | 1,053,963 | 1,136,610 |
Time deposits | 0 | 0 |
Certificate of deposit | 0 | 0 |
Issued bill deposit | 0 | 0 |
CMA Deposits | 0 | 0 |
Other | 1,747,509 | 1,665,090 |
Borrowings debts: | ||
Call-money | 174,000 | 465,000 |
Bills sold | 0 | 0 |
Bonds sold under repurchase agreements | 6,734,162 | 5,243,217 |
Borrowings | 0 | 0 |
Debts: | ||
Borrowings in won | 0 | 0 |
Borrowings in foreign currency | 0 | 0 |
Other financial liabilities | 526,685 | 74,638 |
Financial liabilities at amortized cost, Total | 10,236,319 | 8,584,555 |
Level 2 | ||
Assets: | ||
Deposits at amortized cost | 22,149,706 | 10,587,086 |
Loans at amortized cost: | ||
Retails | 0 | 0 |
Corporations | 0 | 0 |
Public and other funding loans | 0 | 0 |
Loans between banks | 960,827 | 2,498,193 |
Credit card | 0 | 0 |
Securities at amortized cost: | ||
Government bonds | 11,717,519 | 11,087,278 |
Financial institution bonds | 2,629,597 | 1,475,500 |
Debentures | 10,792,000 | 8,423,809 |
Other financial assets | 10,813,821 | 11,606,369 |
Financial assets at amortized cost, Total | 59,063,470 | 45,678,235 |
Deposit liabilities: | ||
Demand deposits | 115,216,336 | 104,998,305 |
Time deposits | 0 | 0 |
Certificate of deposit | 0 | 0 |
Issued bill deposit | 0 | 0 |
CMA Deposits | 3,987,372 | 4,084,709 |
Other | 0 | 0 |
Borrowings debts: | ||
Call-money | 538,247 | 960,162 |
Bills sold | 0 | 0 |
Bonds sold under repurchase agreements | 0 | 0 |
Borrowings | 0 | 123,874 |
Debts: | ||
Borrowings in won | 43,747,553 | 36,335,879 |
Borrowings in foreign currency | 7,535,065 | 5,558,527 |
Other financial liabilities | 7,932,723 | 6,630,725 |
Financial liabilities at amortized cost, Total | 178,957,296 | 158,692,181 |
Level 3 | ||
Assets: | ||
Deposits at amortized cost | 569,366 | 779,246 |
Loans at amortized cost: | ||
Retails | 135,620,862 | 126,266,820 |
Corporations | 160,818,097 | 147,420,557 |
Public and other funding loans | 3,446,485 | 2,891,202 |
Loans between banks | 1,683,776 | 1,081,793 |
Credit card | 23,489,180 | 21,930,174 |
Securities at amortized cost: | ||
Government bonds | 0 | 0 |
Financial institution bonds | 0 | 0 |
Debentures | 86,059 | 83,044 |
Other financial assets | 6,152,697 | 5,178,992 |
Financial assets at amortized cost, Total | 331,866,522 | 305,631,828 |
Deposit liabilities: | ||
Demand deposits | 12,408 | 25,919 |
Time deposits | 158,478,949 | 139,580,314 |
Certificate of deposit | 9,714,806 | 9,298,457 |
Issued bill deposit | 4,579,425 | 4,087,338 |
CMA Deposits | 0 | 0 |
Other | 142,191 | 110,186 |
Borrowings debts: | ||
Call-money | 0 | 0 |
Bills sold | 19,035 | 14,506 |
Bonds sold under repurchase agreements | 2,355,574 | 2,371,442 |
Borrowings | 25,205,292 | 20,720,444 |
Debts: | ||
Borrowings in won | 21,574,860 | 18,904,588 |
Borrowings in foreign currency | 3,247,962 | 2,707,315 |
Other financial liabilities | 19,489,898 | 13,528,557 |
Financial liabilities at amortized cost, Total | ₩ 244,820,400 | ₩ 211,349,066 |
Information on valuation techni
Information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Level 2 | Financial assets | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 59,063,470 | ₩ 45,678,235 |
Level 2 | Due from banks at amortized cost | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 22,149,706 | ₩ 10,587,086 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Loans at amortized cost | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 960,827 | ₩ 2,498,193 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate, credit spread, prepayment rate | Discount rate, credit spread, prepayment rate |
Level 2 | Securities at amortized cost | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 25,139,116 | ₩ 20,986,587 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Others | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 10,813,821 | ₩ 11,606,369 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Financial liabilities | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 178,957,296 | ₩ 158,692,181 |
Level 2 | Deposits | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 119,203,708 | ₩ 109,083,014 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Borrowings | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 538,247 | ₩ 1,084,036 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Debt securities | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 51,282,618 | ₩ 41,894,406 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Others | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 7,932,723 | ₩ 6,630,725 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Financial assets | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 331,866,522 | ₩ 305,631,828 |
Level 3 | Due from banks at amortized cost | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 569,366 | ₩ 779,246 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Loans at amortized cost | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 325,058,400 | ₩ 299,590,546 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate, credit spread, prepayment rate | Discount rate, credit spread, prepayment rate |
Level 3 | Securities at amortized cost | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 86,059 | ₩ 83,044 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Others | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 6,152,697 | ₩ 5,178,992 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Financial liabilities | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 244,820,400 | ₩ 211,349,066 |
Level 3 | Deposits | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 172,927,779 | ₩ 153,102,214 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Borrowings | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 27,579,901 | ₩ 23,106,392 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Debt securities | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 24,822,822 | ₩ 21,611,903 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate, regression coefficient, correlation coefficient | Discount rate, regression coefficient, correlation coefficient |
Level 3 | Others | ||
Financial instruments not measured at fair value but for which the fair value is disclosed, information on valuation technique and inputs used in measuring fair value of financial instruments classified as level 2 or level 3 [Line Items] | ||
Fair value | ₩ 19,489,898 | ₩ 13,528,557 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Changes in the difference betwe
Changes in the difference between the fair value at initial recognition and the value using models with unobservable inputs (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Changes in the difference between the fair value at initial recognition and the value using models with unobservable inputs [Abstract] | ||
Beginning balance | ₩ (126,111) | ₩ (137,393) |
Deferral on new transactions | (178,223) | (91,625) |
Recognized in profit for the year | 131,475 | 102,907 |
Ending balance | ₩ (172,859) | ₩ (126,111) |
Classification by categories of
Classification by categories of financial assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Classification by categories of financial assets [Line Items] | ||
Cash and due from banks at Amortized cost | ₩ 28,423,744 | ₩ 17,348,626 |
Due from banks at fair value through profit or loss | 897,525 | 870,656 |
Securities at fair value through profit or loss | 50,110,797 | 41,454,916 |
Derivative assets | 2,829,274 | 1,793,613 |
Loans at fair value through profit or loss | 2,154,821 | 1,209,194 |
Loans at amortized cost | 323,244,979 | 299,609,472 |
Securities at fair value through other comprehensive income | 59,381,053 | 38,314,170 |
Securities at amortized cost | 45,582,065 | 28,478,136 |
Others | 17,477,778 | 16,837,141 |
Financial assets, Total | 530,102,036 | 445,915,924 |
Financial assets at fair value through profit or loss | ||
Classification by categories of financial assets [Line Items] | ||
Cash and due from banks at Amortized cost | 0 | 0 |
Due from banks at fair value through profit or loss | 897,525 | 870,656 |
Securities at fair value through profit or loss | 50,110,797 | 41,454,916 |
Derivative assets | 2,586,068 | 1,727,321 |
Loans at fair value through profit or loss | 2,154,821 | 1,209,194 |
Loans at amortized cost | 0 | 0 |
Securities at fair value through other comprehensive income | 0 | 0 |
Securities at amortized cost | 0 | 0 |
Others | 0 | 0 |
Financial assets, Total | 55,749,211 | 45,262,087 |
Securities at fair value through other comprehensive income | ||
Classification by categories of financial assets [Line Items] | ||
Cash and due from banks at Amortized cost | 0 | 0 |
Due from banks at fair value through profit or loss | 0 | 0 |
Securities at fair value through profit or loss | 0 | 0 |
Derivative assets | 0 | 0 |
Loans at fair value through profit or loss | 0 | 0 |
Loans at amortized cost | 0 | 0 |
Securities at fair value through other comprehensive income | 59,381,053 | 38,314,170 |
Securities at amortized cost | 0 | 0 |
Others | 0 | 0 |
Financial assets, Total | 59,381,053 | 38,314,170 |
Securities at amortized cost | ||
Classification by categories of financial assets [Line Items] | ||
Cash and due from banks at Amortized cost | 28,423,744 | 17,348,626 |
Due from banks at fair value through profit or loss | 0 | 0 |
Securities at fair value through profit or loss | 0 | 0 |
Derivative assets | 0 | 0 |
Loans at fair value through profit or loss | 0 | 0 |
Loans at amortized cost | 323,244,979 | 299,609,472 |
Securities at fair value through other comprehensive income | 0 | 0 |
Securities at amortized cost | 45,582,065 | 28,478,136 |
Others | 17,477,778 | 16,837,141 |
Financial assets, Total | 414,728,566 | 362,273,375 |
Derivative instruments held for hedging | ||
Classification by categories of financial assets [Line Items] | ||
Cash and due from banks at Amortized cost | 0 | 0 |
Due from banks at fair value through profit or loss | 0 | 0 |
Securities at fair value through profit or loss | 0 | 0 |
Derivative assets | 243,206 | 66,292 |
Loans at fair value through profit or loss | 0 | 0 |
Loans at amortized cost | 0 | 0 |
Securities at fair value through other comprehensive income | 0 | 0 |
Securities at amortized cost | 0 | 0 |
Others | 0 | 0 |
Financial assets, Total | ₩ 243,206 | ₩ 66,292 |
Classification by categories _2
Classification by categories of financial liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Classification by categories of financial liabilities [Line Items] | |||
Deposits | ₩ 294,874,256 | ₩ 265,000,190 | |
Financial liabilities at fair value through profit or loss | 1,632,457 | 1,420,306 | |
Financial liabilities designated at fair value through profit or loss (IFRS9) | [1] | 9,409,456 | 8,535,800 |
Derivative liabilities | 2,303,012 | 2,439,892 | |
Borrowings | 34,863,156 | 29,818,542 | |
Debt securities issued | 75,363,364 | 63,227,699 | |
Others | 28,231,911 | 20,545,181 | |
Financial liabilities, Total | 446,677,612 | 390,987,610 | |
Financial liabilities at fair value through profit or loss | |||
Classification by categories of financial liabilities [Line Items] | |||
Deposits | 0 | 0 | |
Financial liabilities at fair value through profit or loss | 1,632,457 | 1,420,306 | |
Financial liabilities designated at fair value through profit or loss (IFRS9) | 0 | 0 | |
Derivative liabilities | 2,001,004 | 1,846,669 | |
Borrowings | 0 | 0 | |
Debt securities issued | 0 | 0 | |
Others | 0 | 0 | |
Financial liabilities, Total | 3,633,461 | 3,266,975 | |
Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Classification by categories of financial liabilities [Line Items] | |||
Deposits | 0 | 0 | |
Financial liabilities at fair value through profit or loss | 0 | 0 | |
Financial liabilities designated at fair value through profit or loss (IFRS9) | [1] | 9,409,456 | 8,535,800 |
Derivative liabilities | 0 | 0 | |
Borrowings | 0 | 0 | |
Debt securities issued | 0 | 0 | |
Others | 0 | 0 | |
Financial liabilities, Total | 9,409,456 | 8,535,800 | |
Financial liabilities measured at amortized cost | |||
Classification by categories of financial liabilities [Line Items] | |||
Deposits | 294,874,256 | 265,000,190 | |
Financial liabilities at fair value through profit or loss | 0 | 0 | |
Financial liabilities designated at fair value through profit or loss (IFRS9) | 0 | 0 | |
Derivative liabilities | 0 | 0 | |
Borrowings | 34,863,156 | 29,818,542 | |
Debt securities issued | 75,363,364 | 63,227,699 | |
Others | 28,231,911 | 20,545,181 | |
Financial liabilities, Total | 433,332,687 | 378,591,612 | |
Derivative instruments held for hedging | |||
Classification by categories of financial liabilities [Line Items] | |||
Deposits | 0 | 0 | |
Financial liabilities at fair value through profit or loss | 0 | 0 | |
Financial liabilities designated at fair value through profit or loss (IFRS9) | 0 | 0 | |
Derivative liabilities | 302,008 | 593,223 | |
Borrowings | 0 | 0 | |
Debt securities issued | 0 | 0 | |
Others | 0 | 0 | |
Financial liabilities, Total | ₩ 302,008 | ₩ 593,223 | |
[1] | The Group designated the financial liabilities at the initial recognition (or subsequently) in accordance with paragraph 6.7.1 of IFRS 9 as financial liabilities at fair value through profit or loss. |
Transfers that do not qualify f
Transfers that do not qualify for derecognition (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Bonds sold under repurchase agreements | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | ₩ 10,610,893 | ₩ 7,555,719 |
Associated financial liabilities | 8,717,336 | 7,167,364 |
Securities at FVTPL | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 7,924,953 | 6,711,060 |
Securities at fair value through other comprehensive income | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 1,867,470 | 688,593 |
Securities at amortized cost | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 818,470 | 156,066 |
Securities loaned | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 4,442,163 | 1,632,241 |
Debt securities | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 4,411,921 | 1,626,212 |
Government | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 3,951,869 | 1,216,381 |
Financial institutions | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 460,052 | 409,831 |
Equity securities | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | ₩ 30,242 | ₩ 6,029 |
Offsetting financial assets (De
Offsetting financial assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | ₩ 56,925,360 | ₩ 56,658,066 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 28,328,688 | 27,771,909 |
Net amounts of financial assets presented in the statement of financial position | 28,596,672 | 28,886,157 |
Related amounts not set off in the statement of financial position (Financial instruments) | 21,603,782 | 20,629,246 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 263,541 | 26,638 |
Net amount | 6,729,349 | 8,230,273 |
Derivatives and other financial instruments | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 11,319,080 | 9,207,333 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 1,319,365 | 1,268,779 |
Net amounts of financial assets presented in the statement of financial position | 9,999,715 | 7,938,554 |
Related amounts not set off in the statement of financial position (Financial instruments) | 8,090,372 | 6,746,640 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 263,541 | 26,638 |
Net amount | 1,645,802 | 1,165,276 |
Bonds purchased under repurchase agreements | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 11,828,135 | 12,945,380 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 0 | 0 |
Net amounts of financial assets presented in the statement of financial position | 11,828,135 | 12,945,380 |
Related amounts not set off in the statement of financial position (Financial instruments) | 11,051,075 | 12,557,025 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 777,060 | 388,355 |
Securities loaned | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 1,927,674 | 1,827,066 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 0 | 0 |
Net amounts of financial assets presented in the statement of financial position | 1,927,674 | 1,827,066 |
Related amounts not set off in the statement of financial position (Financial instruments) | 1,927,674 | 1,246,157 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 0 | 580,909 |
Domestic exchange settlement debit | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 31,814,310 | 32,647,367 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 27,008,189 | 26,502,611 |
Net amounts of financial assets presented in the statement of financial position | 4,806,121 | 6,144,756 |
Related amounts not set off in the statement of financial position (Financial instruments) | 526,653 | 74,552 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 4,279,468 | 6,070,204 |
Receivables from disposal of securities | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 25,808 | 22,906 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 1,134 | 519 |
Net amounts of financial assets presented in the statement of financial position | 24,674 | 22,387 |
Related amounts not set off in the statement of financial position (Financial instruments) | 0 | 0 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 24,674 | 22,387 |
Insurance receivables | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 10,353 | 8,014 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 0 | 0 |
Net amounts of financial assets presented in the statement of financial position | 10,353 | 8,014 |
Related amounts not set off in the statement of financial position (Financial instruments) | 8,008 | 4,872 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | ₩ 2,345 | ₩ 3,142 |
Offsetting financial liabilitie
Offsetting financial liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | ₩ 59,114,509 | ₩ 54,023,073 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 28,328,688 | 27,771,909 |
Net amounts of financial liabilities presented in the statement of financial position | 30,785,821 | 26,251,164 |
Related amounts not set off in the statement of financial position (Financial instruments) | 19,998,507 | 16,863,187 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 11,693 | 0 |
Net amount | 10,775,621 | 9,387,977 |
Derivatives and other financial instruments | ||
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | 20,315,089 | 18,453,087 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 1,319,365 | 1,268,779 |
Net amounts of financial liabilities presented in the statement of financial position | 18,995,724 | 17,184,308 |
Related amounts not set off in the statement of financial position (Financial instruments) | 8,279,924 | 7,850,210 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 11,693 | 0 |
Net amount | 10,704,107 | 9,334,098 |
Bonds sold under repurchase agreements | ||
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | 8,717,336 | 7,170,744 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 0 | 0 |
Net amounts of financial liabilities presented in the statement of financial position | 8,717,336 | 7,170,744 |
Related amounts not set off in the statement of financial position (Financial instruments) | 8,717,336 | 7,170,744 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 0 | 0 |
Securities borrowed | ||
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | 1,135,614 | 746,521 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 0 | 0 |
Net amounts of financial liabilities presented in the statement of financial position | 1,135,614 | 746,521 |
Related amounts not set off in the statement of financial position (Financial instruments) | 1,135,614 | 746,521 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 0 | 0 |
Domestic exchange settlement pending | ||
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | 28,936,661 | 27,647,185 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 27,008,189 | 26,502,611 |
Net amounts of financial liabilities presented in the statement of financial position | 1,928,472 | 1,144,574 |
Related amounts not set off in the statement of financial position (Financial instruments) | 1,857,152 | 1,090,808 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 71,320 | 53,766 |
Payable from purchase of securities | ||
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | 1,607 | 552 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 1,134 | 519 |
Net amounts of financial liabilities presented in the statement of financial position | 473 | 33 |
Related amounts not set off in the statement of financial position (Financial instruments) | 473 | 33 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 0 | 0 |
Insurance payables | ||
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | 8,202 | 4,984 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 0 | 0 |
Net amounts of financial liabilities presented in the statement of financial position | 8,202 | 4,984 |
Related amounts not set off in the statement of financial position (Financial instruments) | 8,008 | 4,871 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | ₩ 194 | ₩ 113 |
The capital adequacy ratio of t
The capital adequacy ratio of the Group (Details) ₩ in Millions | Dec. 31, 2019KRW (₩) | Dec. 31, 2018KRW (₩) |
The capital adequacy ratio of the Group [Abstract] | ||
Tier I common equity capital | ₩ 28,561,568 | ₩ 28,696,267 |
Additional tier 1 capital | 3,138,262 | 1,981,609 |
Tier I capital | 31,699,830 | 30,677,876 |
Tier II capital | 4,014,740 | 3,315,185 |
Total capital (A) | 35,714,570 | 33,993,061 |
Total risk-weighted assets (B) | ₩ 256,891,664 | ₩ 228,678,105 |
Capital adequacy ratio (A/B) | 0.1390 | 0.1487 |
Tier I capital adequacy ratio | 0.1234 | 0.1342 |
Common equity capital adequacy ratio | 0.1112 | 0.1255 |
Investments in subsidiaries - C
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | ₩ 552,419,581 | ₩ 459,600,510 |
Total liabilities | 510,489,200 | 422,949,080 |
Total equity | 41,930,381 | 36,651,430 |
Shinhan Financial Group (Separate) | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 32,261,322 | 30,114,232 |
Total liabilities | 9,795,896 | 8,464,164 |
Total equity | 22,465,426 | 21,650,068 |
Shinhan Bank Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 392,723,044 | 348,523,615 |
Total liabilities | 366,629,929 | 324,331,076 |
Total equity | 26,093,115 | 24,192,539 |
Shinhan Card Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 32,917,910 | 29,429,455 |
Total liabilities | 26,769,044 | 23,427,988 |
Total equity | 6,148,866 | 6,001,467 |
Shinhan Investment Corp. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 37,375,487 | 28,987,216 |
Total liabilities | 33,138,930 | 25,614,647 |
Total equity | 4,236,557 | 3,372,569 |
Shinhan Life Insurance Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 34,133,649 | 31,823,631 |
Total liabilities | 32,062,490 | 30,078,522 |
Total equity | 2,071,159 | 1,745,109 |
Orange Life Insurance Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 32,841,359 | |
Total liabilities | 29,654,711 | |
Total equity | 3,186,648 | |
Shinhan Capital Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 7,566,428 | 6,116,585 |
Total liabilities | 6,612,519 | 5,368,265 |
Total equity | 953,909 | 748,320 |
Jeju Bank | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 6,192,927 | 5,980,941 |
Total liabilities | 5,695,223 | 5,507,949 |
Total equity | 497,704 | 472,992 |
Shinhan Credit Information Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 25,292 | 24,377 |
Total liabilities | 10,044 | 8,750 |
Total equity | 15,248 | 15,627 |
Shinhan Alternative Investment Management Inc. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 87,694 | 102,079 |
Total liabilities | 75,665 | 92,194 |
Total equity | 12,029 | 9,885 |
Shinhan BNP Paribas Asset Management Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 184,203 | 173,964 |
Total liabilities | 19,678 | 14,841 |
Total equity | 164,525 | 159,123 |
SHC Management Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 9,639 | 9,755 |
Total liabilities | 0 | 198 |
Total equity | 9,639 | 9,557 |
Shinhan DS | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 89,141 | 43,095 |
Total liabilities | 67,954 | 23,118 |
Total equity | 21,187 | 19,977 |
Shinhan Savings Bank | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 1,602,902 | 1,454,290 |
Total liabilities | 1,418,317 | 1,291,012 |
Total equity | 184,585 | 163,278 |
Asia Trust Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 172,793 | |
Total liabilities | 43,933 | |
Total equity | 128,860 | |
Shinhan AITAS Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 77,086 | 65,725 |
Total liabilities | 10,962 | 7,367 |
Total equity | 66,124 | 58,358 |
Shinhan REITs Management Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 45,832 | 36,298 |
Total liabilities | 5,619 | 3,496 |
Total equity | 40,213 | ₩ 32,802 |
Shinhan AI Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 42,402 | |
Total liabilities | 1,674 | |
Total equity | ₩ 40,728 |
Investments in subsidiaries -_2
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Net income | ₩ 3,642,384 | ₩ 3,198,265 | ₩ 2,949,205 |
Total comprehensive income | 4,208,294 | 3,249,557 | 2,520,091 |
Shinhan Financial Group (Separate) | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 1,480,030 | 1,519,197 | 1,008,868 |
Net income | 1,129,173 | 1,234,883 | 754,727 |
Total comprehensive income | 1,127,202 | 1,234,044 | 755,018 |
Shinhan Bank Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 23,145,476 | 19,731,711 | 21,240,193 |
Net income | 2,329,268 | 2,279,362 | 1,712,314 |
Total comprehensive income | 2,527,665 | 2,333,266 | 1,496,582 |
Shinhan Card Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 3,892,257 | 3,752,232 | 5,186,592 |
Net income | 509,032 | 517,761 | 898,723 |
Total comprehensive income | 486,114 | 477,135 | 787,956 |
Shinhan Investment Corp. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 6,139,926 | 5,279,567 | 5,324,056 |
Net income | 220,764 | 251,268 | 211,919 |
Total comprehensive income | 225,963 | 269,058 | 195,910 |
Shinhan Life Insurance Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 5,413,175 | 5,633,679 | 5,997,997 |
Net income | 123,870 | 131,021 | 120,642 |
Total comprehensive income | 326,783 | 150,997 | 46,062 |
Orange Life Insurance Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 4,662,085 | ||
Net income | 271,455 | ||
Total comprehensive income | 433,510 | ||
Shinhan Capital Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 455,246 | 439,031 | 351,772 |
Net income | 126,050 | 103,400 | 87,647 |
Total comprehensive income | 123,032 | 100,317 | 88,128 |
Jeju Bank | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 239,732 | 224,766 | 208,661 |
Net income | 27,934 | 27,446 | 25,143 |
Total comprehensive income | 30,519 | 30,579 | 22,053 |
Shinhan Credit Information Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 38,648 | 37,616 | 32,836 |
Net income | 507 | 1,392 | 340 |
Total comprehensive income | 658 | 985 | 377 |
Shinhan Alternative Investment Management Inc. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 32,401 | 21,590 | 29,410 |
Net income | 2,144 | (780) | (844) |
Total comprehensive income | 2,144 | (780) | (842) |
Shinhan BNP Paribas Asset Management Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 84,256 | 78,378 | 77,474 |
Net income | 23,090 | 18,868 | 19,705 |
Total comprehensive income | 22,655 | 18,980 | 20,073 |
SHC Management Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 154 | 140 | 177 |
Net income | 82 | 309 | 1,036 |
Total comprehensive income | 82 | 309 | 1,036 |
Shinhan DS | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 138,697 | 99,279 | 79,063 |
Net income | 2,074 | 1,314 | 1,404 |
Total comprehensive income | 1,292 | 1,525 | 2,482 |
Shinhan Savings Bank | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 116,849 | 94,636 | 78,516 |
Net income | 23,122 | 19,384 | 16,800 |
Total comprehensive income | 22,972 | 18,919 | 16,757 |
Asia Trust Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 54,920 | ||
Net income | 18,098 | ||
Total comprehensive income | 18,128 | ||
Shinhan AITAS Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 51,823 | 44,729 | 40,781 |
Net income | 10,821 | 8,461 | 6,481 |
Total comprehensive income | 10,821 | 8,461 | 6,481 |
Shinhan REITs Management Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 7,342 | 7,386 | 70 |
Net income | 7,414 | 3,564 | (752) |
Total comprehensive income | 7,411 | ₩ 3,552 | ₩ (752) |
Shinhan AI Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 3,088 | ||
Net income | (654) | ||
Total comprehensive income | ₩ (654) |
Information of income and expen
Information of income and expense for each operating segment (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | ₩ 9,737,964 | ₩ 8,580,089 | ₩ 7,842,953 |
Net fees and commission income | 2,140,519 | 1,938,997 | 1,710,954 |
Reversal of (provision for) ACL | (980,692) | (747,877) | |
Impairment losses on financial assets | (1,013,548) | ||
General and administrative expenses | (5,134,674) | (4,741,575) | (4,811,198) |
Other income (expense), net | (716,867) | (530,220) | 100,865 |
Operating income | 5,046,250 | 4,499,414 | 3,830,026 |
Equity method income (loss) | 53,287 | 17,488 | 20,393 |
Income tax expense (benefit) | 1,269,124 | 1,268,345 | 848,403 |
Profit for the year | 3,642,384 | 3,198,265 | 2,949,205 |
Controlling interest | 3,403,497 | 3,156,722 | 2,918,816 |
Non-controlling interests | 238,887 | 41,543 | 30,389 |
Banking | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 5,989,462 | 5,707,813 | 5,107,888 |
Net fees and commission income | 950,389 | 850,646 | 816,795 |
Reversal of (provision for) ACL | (389,004) | (250,134) | |
Impairment losses on financial assets | 0 | 0 | (674,706) |
General and administrative expenses | (3,177,158) | (3,098,629) | (3,149,436) |
Other income (expense), net | (211,882) | (163,104) | (11,556) |
Operating income | 3,161,807 | 3,046,592 | 2,088,985 |
Equity method income (loss) | (764) | (977) | 1,306 |
Income tax expense (benefit) | 718,650 | 832,494 | 418,679 |
Profit for the year | 2,256,652 | 2,195,263 | 1,623,425 |
Controlling interest | 2,256,576 | 2,194,950 | 1,623,184 |
Non-controlling interests | 76 | 313 | 241 |
Banking | External customers | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 5,995,097 | 5,714,568 | 5,113,584 |
Net fees and commission income | 1,157,020 | 872,631 | 844,349 |
Banking | Internal transactions | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | (5,635) | (6,755) | (5,696) |
Net fees and commission income | (206,631) | (21,985) | (27,554) |
Credit card | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 1,753,966 | 1,583,100 | 1,501,054 |
Net fees and commission income | 403,259 | 433,043 | 359,408 |
Reversal of (provision for) ACL | (566,415) | (466,447) | |
Impairment losses on financial assets | 0 | 0 | (291,694) |
General and administrative expenses | (745,848) | (751,580) | (831,927) |
Other income (expense), net | (33,204) | 74,954 | 567,234 |
Operating income | 811,758 | 873,070 | 1,304,075 |
Equity method income (loss) | 0 | 0 | 0 |
Income tax expense (benefit) | 205,863 | 225,837 | 285,853 |
Profit for the year | 609,582 | 629,307 | 1,012,755 |
Controlling interest | 609,350 | 630,993 | 1,027,823 |
Non-controlling interests | 232 | (1,686) | (15,068) |
Credit card | External customers | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 1,781,266 | 1,602,849 | 1,517,399 |
Net fees and commission income | 254,139 | 464,342 | 384,356 |
Credit card | Internal transactions | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | (27,300) | (19,749) | (16,345) |
Net fees and commission income | 149,120 | (31,299) | (24,948) |
Securities | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 457,852 | 429,095 | 433,047 |
Net fees and commission income | 351,303 | 388,944 | 297,718 |
Reversal of (provision for) ACL | 1,325 | (9,226) | |
Impairment losses on financial assets | 0 | 0 | (15,752) |
General and administrative expenses | (511,418) | (493,906) | (444,935) |
Other income (expense), net | (59,006) | 17,963 | (17,229) |
Operating income | 240,056 | 332,870 | 252,849 |
Equity method income (loss) | 18,163 | 15,228 | 12,081 |
Income tax expense (benefit) | 68,311 | 95,438 | 63,472 |
Profit for the year | 220,764 | 251,268 | 211,919 |
Controlling interest | 220,850 | 251,265 | 211,907 |
Non-controlling interests | (86) | 3 | 12 |
Securities | External customers | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 450,268 | 423,156 | 427,888 |
Net fees and commission income | 361,526 | 400,227 | 306,407 |
Securities | Internal transactions | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 7,584 | 5,939 | 5,159 |
Net fees and commission income | (10,223) | (11,283) | (8,689) |
Life insurance | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 1,647,795 | 761,742 | 727,917 |
Net fees and commission income | 167,324 | 69,780 | 53,271 |
Reversal of (provision for) ACL | (797) | (13,400) | |
Impairment losses on financial assets | 0 | 0 | (13,162) |
General and administrative expenses | (443,013) | (227,740) | (222,650) |
Other income (expense), net | (786,103) | (409,151) | (385,226) |
Operating income | 585,206 | 181,231 | 160,150 |
Equity method income (loss) | (1,296) | (1,026) | (910) |
Income tax expense (benefit) | 187,608 | 50,429 | 41,441 |
Profit for the year | 395,325 | 131,021 | 120,642 |
Controlling interest | 395,325 | 131,021 | 120,642 |
Non-controlling interests | 0 | 0 | 0 |
Life insurance | External customers | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 1,647,988 | 762,978 | 727,975 |
Net fees and commission income | 175,171 | 77,145 | 60,555 |
Life insurance | Internal transactions | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | (193) | (1,236) | (58) |
Net fees and commission income | (7,847) | (7,365) | (7,284) |
Others | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 127,564 | 95,618 | 69,231 |
Net fees and commission income | 272,244 | 198,828 | 180,510 |
Reversal of (provision for) ACL | (25,030) | (10,238) | |
Impairment losses on financial assets | 0 | 0 | (36,830) |
General and administrative expenses | (335,090) | (263,046) | (234,649) |
Other income (expense), net | 129,272 | 80,857 | 53,815 |
Operating income | 168,960 | 102,019 | 32,077 |
Equity method income (loss) | 12,265 | 6,909 | 8,796 |
Income tax expense (benefit) | 73,213 | 59,556 | 32,805 |
Profit for the year | 100,259 | 49,168 | 9,600 |
Controlling interest | 100,259 | 49,168 | 9,600 |
Non-controlling interests | 0 | 0 | 0 |
Others | External customers | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 103,161 | 76,538 | 56,107 |
Net fees and commission income | 192,663 | 124,652 | 115,287 |
Others | Internal transactions | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 24,403 | 19,080 | 13,124 |
Net fees and commission income | 79,581 | 74,176 | 65,223 |
Consolidation adjustment | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | (238,675) | 2,721 | 3,816 |
Net fees and commission income | (4,000) | (2,244) | 3,252 |
Reversal of (provision for) ACL | (771) | 1,568 | |
Impairment losses on financial assets | 0 | 0 | 18,596 |
General and administrative expenses | 77,853 | 93,326 | 72,399 |
Other income (expense), net | 244,056 | (131,739) | (106,173) |
Operating income | 78,463 | (36,368) | (8,110) |
Equity method income (loss) | 24,919 | (2,646) | (880) |
Income tax expense (benefit) | 15,479 | 4,591 | 6,153 |
Profit for the year | 59,802 | (57,762) | (29,136) |
Controlling interest | (178,863) | (100,675) | (74,340) |
Non-controlling interests | 238,665 | 42,913 | 45,204 |
Consolidation adjustment | External customers | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | (239,816) | 0 | 0 |
Net fees and commission income | 0 | 0 | 0 |
Consolidation adjustment | Internal transactions | |||
Information of income and expense for each operating segment [Line Items] | |||
Net interest income | 1,141 | 2,721 | 3,816 |
Net fees and commission income | ₩ (4,000) | ₩ (2,244) | ₩ 3,252 |
Financial information of geogra
Financial information of geographical area (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financial information of geographical area [Line Items] | |||
Operating income | ₩ 5,046,250 | ₩ 4,499,414 | ₩ 3,830,026 |
Non-current assets | 10,130,652 | 7,798,840 | |
Domestic | |||
Financial information of geographical area [Line Items] | |||
Operating income | 4,378,239 | 4,023,916 | 3,504,780 |
Non-current assets | 9,816,600 | 7,597,266 | |
Overseas | |||
Financial information of geographical area [Line Items] | |||
Operating income | 668,011 | 475,498 | ₩ 325,246 |
Non-current assets | ₩ 314,052 | ₩ 201,574 |
Cash and Due from Banks At Am_3
Cash and Due from Banks At Amortized Cost (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and Due from banks at amortized cost [Line Items] | ||
Cash and cash equivalents | ₩ 2,582,886 | ₩ 2,617,231 |
Due from banks at amortized cost : | ||
Deposits | 5,616,049 | 5,045,513 |
Reserve deposits | 13,840,988 | 2,360,416 |
Time deposits | 3,807,849 | 4,137,501 |
Other | 2,588,046 | 3,202,789 |
Due from banks at amortized cost, total | 25,852,932 | 14,746,219 |
Allowance for credit losses | (12,074) | (14,824) |
Cash and Due from banks at amortized cost, total | 28,423,744 | 17,348,626 |
Domestic currency | ||
Cash and Due from banks at amortized cost [Line Items] | ||
Cash and cash equivalents | 2,582,886 | 2,617,231 |
Due from banks at amortized cost : | ||
Deposits | 0 | 0 |
Reserve deposits | 13,840,988 | 2,360,416 |
Time deposits | 1,413,964 | 1,346,015 |
Other | 1,890,541 | 2,271,812 |
Due from banks at amortized cost, total | 17,145,493 | 5,978,243 |
Foreign currency | ||
Cash and Due from banks at amortized cost [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Due from banks at amortized cost : | ||
Deposits | 5,616,049 | 5,045,513 |
Reserve deposits | 0 | 0 |
Time deposits | 2,393,885 | 2,791,486 |
Other | 697,505 | 930,977 |
Due from banks at amortized cost, total | ₩ 8,707,439 | ₩ 8,767,976 |
Restricted due from banks at am
Restricted due from banks at amortized cost (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Restricted due from banks at amortized cost [Line Items] | |||
Deposits | ₩ 1,584,239 | ₩ 1,632,971 | |
Reserve deposits | 13,840,988 | 2,360,416 | |
Other | 1,081,698 | 2,182,119 | |
Restricted due from banks at amortized cost, total | 16,506,925 | 6,175,506 | ₩ 13,435,531 |
Domestic currency | |||
Restricted due from banks at amortized cost [Line Items] | |||
Deposits | 0 | 0 | |
Reserve deposits | 13,840,988 | 2,360,416 | |
Other | 1,081,698 | 2,182,119 | |
Restricted due from banks at amortized cost, total | 14,922,686 | 4,542,535 | |
Foreign currency | |||
Restricted due from banks at amortized cost [Line Items] | |||
Deposits | 1,584,239 | 1,632,971 | |
Reserve deposits | 0 | 0 | |
Other | 0 | 0 | |
Restricted due from banks at amortized cost, total | ₩ 1,584,239 | ₩ 1,632,971 |
Financial assets at fair valu_3
Financial assets at fair value through profit or loss (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | ₩ 53,163,143 | ₩ 43,534,766 |
Debt securities | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 48,401,142 | 40,134,964 |
Government | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 2,873,419 | 2,765,054 |
Financial institutions | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 12,711,074 | 9,415,470 |
Corporation | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 8,541,514 | 6,664,839 |
Stocks with put option | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 598,858 | 381,844 |
Equity investment with put option | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 1,458,933 | 1,080,723 |
Beneficiary certificates | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 10,678,620 | 9,062,004 |
Commercial Papers | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 5,160,063 | 5,535,397 |
CMA | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 3,723,401 | 3,001,831 |
Others | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 2,655,260 | 2,227,802 |
Equity securities | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 1,597,940 | 1,165,071 |
Stocks | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 1,488,743 | 1,050,097 |
Equity investments | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 0 | 4,908 |
Others | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 109,197 | 110,066 |
Loans at fair value | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 2,154,821 | 1,209,194 |
Due from banks at fair value | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 897,525 | 870,656 |
Gold deposits | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | ₩ 111,715 | ₩ 154,881 |
Financial assets to which overl
Financial assets to which overlay approach were applied in accordance with IFRS 9 'Financial Instruments' and IFRS 4 'Insurance Contracts' (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets to which overlay approach is applied [Line Items] | ||
Financial assets to which overlay approach is applied | ₩ 6,036,905 | ₩ 4,031,181 |
Due from banks at fair value through profit or loss | ||
Disclosure of financial assets to which overlay approach is applied [Line Items] | ||
Financial assets to which overlay approach is applied | 897,525 | 870,656 |
Securities at fair value through profit or loss | ||
Disclosure of financial assets to which overlay approach is applied [Line Items] | ||
Financial assets to which overlay approach is applied | ₩ 5,139,380 | ₩ 3,160,525 |
Reclassified amounts between pr
Reclassified amounts between profit or loss and other comprehensive income due to the overlay approach (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of information about overlay approach for associates [Line Items] | ||
Profit or loss IFRS 9 | ₩ 216,492 | ₩ (72,869) |
Profit or loss IAS 39 | (31,093) | 2,073 |
Other comprehensive income Amount | 247,585 | (74,942) |
Other comprehensive income Tax effect | (54,714) | 20,609 |
Net gain (loss) on valuation of financial assets at fair value through profit or loss | ||
Disclosure of information about overlay approach for associates [Line Items] | ||
Profit or loss IFRS 9 | 150,865 | (77,179) |
Profit or loss IAS 39 | (74,586) | (4,425) |
Other comprehensive income Amount | 225,451 | (72,754) |
Other comprehensive income Tax effect | (50,042) | 20,007 |
Net gain (loss) on disposal of financial assets at fair value through profit or loss | ||
Disclosure of information about overlay approach for associates [Line Items] | ||
Profit or loss IFRS 9 | 65,627 | 4,310 |
Profit or loss IAS 39 | 43,493 | 6,498 |
Other comprehensive income Amount | 22,134 | (2,188) |
Other comprehensive income Tax effect | ₩ (4,672) | ₩ 602 |
Notional amounts of derivatives
Notional amounts of derivatives (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | ₩ 321,461,303 | ₩ 294,014,689 |
Trading purpose | Foreign currency related | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 182,014,087 | 173,976,105 |
Trading purpose | Foreign currency related | Over the counter | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 180,968,949 | 173,539,391 |
Trading purpose | Foreign currency related | Over the counter | Forward contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 137,383,704 | 139,804,552 |
Trading purpose | Foreign currency related | Over the counter | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 40,826,444 | 31,794,900 |
Trading purpose | Foreign currency related | Over the counter | Option contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 2,758,801 | 1,939,939 |
Trading purpose | Foreign currency related | Exchange traded | Futures contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 1,045,138 | 436,714 |
Trading purpose | Interest rates related | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 106,411,518 | 90,124,560 |
Trading purpose | Interest rates related | Over the counter | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 38,087,528 | 31,522,489 |
Trading purpose | Interest rates related | Over the counter | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 37,801,528 | 31,228,489 |
Trading purpose | Interest rates related | Over the counter | Option contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 286,000 | 294,000 |
Trading purpose | Interest rates related | Exchange traded | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 68,323,990 | 58,602,071 |
Trading purpose | Interest rates related | Exchange traded | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 65,868,540 | 56,862,374 |
Trading purpose | Interest rates related | Exchange traded | Futures contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 2,455,450 | 1,739,697 |
Trading purpose | Credit related | Over the counter | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 5,404,257 | 3,840,660 |
Trading purpose | Equity related | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 10,035,315 | 9,118,679 |
Trading purpose | Equity related | Over the counter | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 5,119,869 | 5,779,713 |
Trading purpose | Equity related | Over the counter | Option contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 864,038 | 645,709 |
Trading purpose | Equity related | Over the counter | Swap and forward contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 4,255,831 | 5,134,004 |
Trading purpose | Equity related | Exchange traded | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 4,915,446 | 3,338,966 |
Trading purpose | Equity related | Exchange traded | Futures contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 876,220 | 630,409 |
Trading purpose | Equity related | Exchange traded | Option contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 4,039,226 | 2,708,557 |
Trading purpose | Commodity related | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 1,102,862 | 1,140,820 |
Trading purpose | Commodity related | Over the counter | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 758,533 | 895,069 |
Trading purpose | Commodity related | Over the counter | Option contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 0 | 4,780 |
Trading purpose | Commodity related | Over the counter | Swap and forward contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 758,533 | 890,289 |
Trading purpose | Commodity related | Exchange traded | Futures contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 344,329 | 245,751 |
Hedging purpose | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 16,493,264 | 15,813,865 |
Hedging purpose | Foreign currency related | Forward contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 1,869,518 | 1,522,306 |
Hedging purpose | Foreign currency related | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 4,532,114 | 4,143,828 |
Hedging purpose | Interest rates related | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | ₩ 10,091,632 | ₩ 10,147,731 |
Fair values of derivative instr
Fair values of derivative instruments (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair values of derivative instruments [Line Items] | ||
Derivative assets | ₩ 2,829,274 | ₩ 1,793,613 |
Derivative liabilities | 2,303,012 | 2,439,892 |
Trading purpose | Foreign currency related | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 1,843,188 | 1,314,145 |
Derivative liabilities | 1,585,635 | 1,255,982 |
Trading purpose | Foreign currency related | Over the counter | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 1,843,188 | 1,314,134 |
Derivative liabilities | 1,585,635 | 1,255,982 |
Trading purpose | Foreign currency related | Over the counter | Forward contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 1,360,384 | 912,795 |
Derivative liabilities | 1,056,760 | 870,984 |
Trading purpose | Foreign currency related | Over the counter | Swap contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 473,797 | 393,702 |
Derivative liabilities | 519,445 | 372,725 |
Trading purpose | Foreign currency related | Over the counter | Option contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 9,007 | 7,637 |
Derivative liabilities | 9,430 | 12,273 |
Trading purpose | Foreign currency related | Exchange traded | Futures contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 0 | 11 |
Derivative liabilities | 0 | 0 |
Trading purpose | Interest rates related | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 261,552 | 251,663 |
Derivative liabilities | 253,944 | 178,935 |
Trading purpose | Interest rates related | Over the counter | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 260,855 | 251,251 |
Derivative liabilities | 253,349 | 177,366 |
Trading purpose | Interest rates related | Over the counter | Swap contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 260,020 | 251,251 |
Derivative liabilities | 247,723 | 172,019 |
Trading purpose | Interest rates related | Over the counter | Option contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 835 | 0 |
Derivative liabilities | 5,626 | 5,347 |
Trading purpose | Interest rates related | Exchange traded | Futures contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 697 | 412 |
Derivative liabilities | 595 | 1,569 |
Trading purpose | Credit related | Over the counter | Swap contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 283,015 | 43,382 |
Derivative liabilities | 38,598 | 30,372 |
Trading purpose | Equity related | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 181,475 | 107,135 |
Derivative liabilities | 84,982 | 318,536 |
Trading purpose | Equity related | Over the counter | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 148,802 | 53,508 |
Derivative liabilities | 48,824 | 207,963 |
Trading purpose | Equity related | Over the counter | Option contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 4,526 | 2,265 |
Derivative liabilities | 9,402 | 2,352 |
Trading purpose | Equity related | Over the counter | Swap and forward contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 144,276 | 51,243 |
Derivative liabilities | 39,422 | 205,611 |
Trading purpose | Equity related | Exchange traded | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 32,673 | 53,627 |
Derivative liabilities | 36,158 | 110,573 |
Trading purpose | Equity related | Exchange traded | Futures contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 4,318 | 15,937 |
Derivative liabilities | 6,417 | 778 |
Trading purpose | Equity related | Exchange traded | Option contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 28,355 | 37,690 |
Derivative liabilities | 29,741 | 109,795 |
Trading purpose | Commodity related | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 16,838 | 10,996 |
Derivative liabilities | 37,845 | 62,845 |
Trading purpose | Commodity related | Over the counter | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 14,496 | 2,770 |
Derivative liabilities | 27,745 | 58,829 |
Trading purpose | Commodity related | Over the counter | Option contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 0 | 27 |
Derivative liabilities | 0 | 29 |
Trading purpose | Commodity related | Over the counter | Swap and forward contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 14,496 | 2,743 |
Derivative liabilities | 27,745 | 58,800 |
Trading purpose | Commodity related | Exchange traded | Futures contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 2,342 | 8,226 |
Derivative liabilities | 10,100 | 4,016 |
Hedging purpose | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 243,206 | 66,292 |
Derivative liabilities | 302,008 | 593,222 |
Hedging purpose | Foreign currency related | Forward contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 14,380 | 9,185 |
Derivative liabilities | 21,121 | 30,497 |
Hedging purpose | Foreign currency related | Swap contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 74,240 | 21,976 |
Derivative liabilities | 48,396 | 79,492 |
Hedging purpose | Interest rates related | Swap contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 154,586 | 35,131 |
Derivative liabilities | ₩ 232,491 | ₩ 483,233 |
Gain or loss on valuation of de
Gain or loss on valuation of derivatives (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | ₩ 721,658 | ₩ (212,987) | ₩ 82,305 |
Trading purpose | Foreign currency related | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 153,569 | 15,002 | 182,193 |
Trading purpose | Foreign currency related | Over the counter | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 153,569 | 14,991 | 182,330 |
Trading purpose | Foreign currency related | Over the counter | Forward contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 174,340 | 41,188 | 85,498 |
Trading purpose | Foreign currency related | Over the counter | Swap contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (24,827) | (34,444) | 91,410 |
Trading purpose | Foreign currency related | Over the counter | Option contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 4,056 | 8,247 | 5,422 |
Trading purpose | Foreign currency related | Exchange traded | Futures contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 0 | 11 | (137) |
Trading purpose | Interest rates related | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (76,279) | 82,704 | (10,442) |
Trading purpose | Interest rates related | Over the counter | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (77,287) | 85,216 | (17,392) |
Trading purpose | Interest rates related | Over the counter | Swap contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (75,349) | 86,675 | (17,805) |
Trading purpose | Interest rates related | Over the counter | Option contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (1,938) | (1,459) | 413 |
Trading purpose | Interest rates related | Exchange traded | Futures contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 1,008 | (2,512) | 6,950 |
Trading purpose | Credit related | Over the counter | Swap contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 213,754 | (18,396) | 46,593 |
Trading purpose | Equity related | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 102,375 | (296,135) | 131,734 |
Trading purpose | Equity related | Over the counter | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 45,929 | (267,131) | 110,152 |
Trading purpose | Equity related | Over the counter | Option contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (841) | 4,326 | 36,662 |
Trading purpose | Equity related | Over the counter | Swap and forward contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 46,770 | (271,457) | 73,490 |
Trading purpose | Equity related | Exchange traded | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 56,446 | (29,004) | 21,582 |
Trading purpose | Equity related | Exchange traded | Futures contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (2,275) | 15,159 | (733) |
Trading purpose | Equity related | Exchange traded | Option contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 58,721 | (44,163) | 22,315 |
Trading purpose | Commodity related | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (4,539) | (75,054) | 19,147 |
Trading purpose | Commodity related | Over the counter | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 3,220 | (79,263) | 13,425 |
Trading purpose | Commodity related | Over the counter | Option contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 29 | 33 | (10) |
Trading purpose | Commodity related | Over the counter | Swap and forward contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 3,191 | (79,296) | 13,435 |
Trading purpose | Commodity related | Exchange traded | Futures contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (7,759) | 4,209 | 5,722 |
Hedging purpose | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | ₩ 332,778 | ₩ 78,892 | ₩ (286,920) |
Gain or loss on fair value hedg
Gain or loss on fair value hedges (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Gain or loss on fair value hedges [Line Items] | |||
Gains (losses) on fair value hedges (hedged items) | ₩ (357,062) | ₩ (21,385) | |
Gains (losses) on fair value hedges (hedging instruments) | 358,335 | 19,255 | |
Hedge ineffectiveness recognized in profit or loss | [1] | 1,273 | (2,130) |
Cash Flow Hedges | Interest rate risk | |||
Gain or loss on fair value hedges [Line Items] | |||
Gains (losses) on fair value hedges (hedged items) | (370,787) | (76,573) | |
Gains (losses) on fair value hedges (hedging instruments) | 377,121 | 79,635 | |
Hedge ineffectiveness recognized in profit or loss | [1] | 6,334 | 3,062 |
Cash Flow Hedges | Foreign exchange risk | |||
Gain or loss on fair value hedges [Line Items] | |||
Gains (losses) on fair value hedges (hedged items) | 13,725 | 55,188 | |
Gains (losses) on fair value hedges (hedging instruments) | (18,786) | (60,380) | |
Hedge ineffectiveness recognized in profit or loss | [1] | ₩ (5,061) | ₩ (5,192) |
[1] | Ineffective portion of hedge: the difference between hedging instruments and hedged items. |
Due to the ineffectiveness of h
Due to the ineffectiveness of hedge of cash flow risk and hedge of net investment in foreign operations during the year (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Due to the ineffectiveness of hedge of cash flow risk and hedge of net investment in foreign operations during the year [Line Items] | |||
Gains (losses) on hedges recognized in other comprehensive income | ₩ (15,643) | ₩ 6,321 | |
Hedge ineffectiveness recognized in profit or loss | [1] | (28,036) | (8,953) |
From cash flow hedge reserve to profit or loss Reclassified amount | (49,884) | 70,051 | |
Cash Flow Hedges | Foreign exchange risk | |||
Due to the ineffectiveness of hedge of cash flow risk and hedge of net investment in foreign operations during the year [Line Items] | |||
Gains (losses) on hedges recognized in other comprehensive income | 52,932 | 65,386 | |
Hedge ineffectiveness recognized in profit or loss | [1] | (25,709) | (5,188) |
From cash flow hedge reserve to profit or loss Reclassified amount | (57,870) | 70,051 | |
Cash Flow Hedges | Interest rate risk | |||
Due to the ineffectiveness of hedge of cash flow risk and hedge of net investment in foreign operations during the year [Line Items] | |||
Gains (losses) on hedges recognized in other comprehensive income | (11,126) | (23,186) | |
Hedge ineffectiveness recognized in profit or loss | [1] | 0 | 0 |
From cash flow hedge reserve to profit or loss Reclassified amount | 0 | 0 | |
Cash Flow Hedges | Discontinuation of cash flow hedges | |||
Due to the ineffectiveness of hedge of cash flow risk and hedge of net investment in foreign operations during the year [Line Items] | |||
Gains (losses) on hedges recognized in other comprehensive income | (7,986) | ||
Hedge ineffectiveness recognized in profit or loss | [1] | 0 | |
From cash flow hedge reserve to profit or loss Reclassified amount | 7,986 | ||
Hedges of net investment in foreign operations | Foreign exchange risk | |||
Due to the ineffectiveness of hedge of cash flow risk and hedge of net investment in foreign operations during the year [Line Items] | |||
Gains (losses) on hedges recognized in other comprehensive income | (49,463) | (35,879) | |
Hedge ineffectiveness recognized in profit or loss | [1] | (2,327) | (3,765) |
From cash flow hedge reserve to profit or loss Reclassified amount | ₩ 0 | ₩ 0 | |
[1] | Ineffective portion of hedge: the difference between hedging instruments and hedged items. |
Nominal values and average hedg
Nominal values and average hedge ratio for derivatives (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Interest rate risk | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 10,091,632 | 10,147,731 |
Average hedge ratio | 100.00% | 100.00% |
Interest rate risk | Not later than 1 year | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 750,469 | 190,000 |
Average hedge ratio | 100.00% | 100.00% |
Interest rate risk | 1~2 years | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 704,985 | 737,632 |
Average hedge ratio | 100.00% | 100.00% |
Interest rate risk | 2~3 years | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 717,948 | 723,177 |
Average hedge ratio | 100.00% | 100.00% |
Interest rate risk | 3~4 years | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 1,228,424 | 707,254 |
Average hedge ratio | 100.00% | 100.00% |
Interest rate risk | 4~5 years | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 575,481 | 1,305,584 |
Average hedge ratio | 100.00% | 100.00% |
Interest rate risk | More than 5 years | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 6,114,325 | 6,484,084 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 7,584,467 | 6,858,779 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | Not later than 1 year | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 3,651,118 | 2,731,517 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | 1~2 years | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 1,075,886 | 1,958,746 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | 2~3 years | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 1,269,520 | 827,158 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | 3~4 years | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 968,770 | 1,038,935 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | 4~5 years | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 84,275 | 302,423 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | More than 5 years | ||
Nominal values and average hedge ratio for derivatives [Line Items] | ||
Nominal values | 534,898 | 0 |
Average hedge ratio | 100.00% | 0.00% |
Effect of derivatives on statem
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity (Details) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019KRW (₩) | Dec. 31, 2018KRW (₩) | |
Fair value hedges | Currency swap | ||
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Nominal values | 0 | 33,543 |
Carrying value of assets | ₩ 0 | ₩ 433 |
Carrying value of liabilities | 248 | 0 |
Changes if fair value in the period | ₩ (1,813) | ₩ (1,502) |
Fair value hedges | Interest rate swap | ||
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Nominal values | 9,371,632 | 9,377,731 |
Carrying value of assets | ₩ 154,586 | ₩ 35,093 |
Carrying value of liabilities | 210,079 | 467,381 |
Changes if fair value in the period | ₩ 0 | ₩ 55,244 |
Fair value hedges | Currency forward | ||
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Nominal values | 261,486 | |
Carrying value of assets | ₩ 776 | |
Carrying value of liabilities | 1,358 | |
Changes if fair value in the period | ₩ (582) | |
Reserve of cash flow hedges [Member] | Currency swap | ||
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Nominal values | 4,532,114 | 4,110,285 |
Carrying value of assets | ₩ 74,240 | ₩ 21,543 |
Carrying value of liabilities | 48,148 | 79,492 |
Changes if fair value in the period | ₩ (29,829) | ₩ (54) |
Reserve of cash flow hedges [Member] | Interest rate swap | ||
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Nominal values | 720,000 | 770,000 |
Carrying value of assets | ₩ 0 | ₩ 38 |
Carrying value of liabilities | 22,412 | 15,853 |
Changes if fair value in the period | ₩ (11,126) | ₩ (23,186) |
Reserve of cash flow hedges [Member] | Currency forward | ||
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Nominal values | 1,376,472 | 1,298,686 |
Carrying value of assets | ₩ 11,854 | ₩ 3,191 |
Carrying value of liabilities | 19,763 | 24,925 |
Changes if fair value in the period | ₩ (4,426) | ₩ (33,460) |
Hedges of net investment in foreign operations | Currency forward | ||
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Nominal values | 231,560 | 223,620 |
Carrying value of assets | ₩ 1,750 | ₩ 5,994 |
Carrying value of liabilities | 0 | 5,572 |
Changes if fair value in the period | ₩ (4,036) | ₩ (3,261) |
Hedges of net investment in foreign operations | Borrowings | ||
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Nominal values | 1,182,835 | 1,192,645 |
Carrying value of assets | ₩ 0 | ₩ 0 |
Carrying value of liabilities | 1,177,897 | 1,186,792 |
Changes if fair value in the period | ₩ (47,755) | ₩ (36,383) |
Effect of hedging items on stat
Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Fair value hedges | Interest rate risk | ||
Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Carrying value of assets | ₩ 432,172 | ₩ 293,215 |
Carrying value of liabilities | 8,859,022 | 8,873,059 |
Assets of Cumulative fair value hedge adjustment | 4,846 | (2,832) |
Liabilities of Cumulative fair value hedge adjustment | (56,292) | (524,459) |
Changes if fair value in the period | (308,463) | (56,462) |
Cash flow hedge reserve | 0 | 0 |
Foreign currency conversion reserves | 0 | 0 |
Fair value hedges | Foreign exchange risk | ||
Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Carrying value of assets | 306,638 | 62,406 |
Carrying value of liabilities | 0 | 0 |
Assets of Cumulative fair value hedge adjustment | 0 | 0 |
Liabilities of Cumulative fair value hedge adjustment | 0 | 0 |
Changes if fair value in the period | 1,671 | 2,675 |
Cash flow hedge reserve | 0 | 0 |
Foreign currency conversion reserves | 0 | 0 |
Cash Flow Hedges | Interest rate risk | ||
Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Carrying value of assets | 645,723 | 0 |
Carrying value of liabilities | 1,740,000 | 1,539,005 |
Assets of Cumulative fair value hedge adjustment | 0 | 0 |
Liabilities of Cumulative fair value hedge adjustment | 0 | 0 |
Changes if fair value in the period | (11,126) | 0 |
Cash flow hedge reserve | 80,674 | (10,184) |
Foreign currency conversion reserves | 0 | 0 |
Cash Flow Hedges | Foreign exchange risk | ||
Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Carrying value of assets | 4,116,068 | 2,795,320 |
Carrying value of liabilities | 3,035,423 | 2,716,148 |
Assets of Cumulative fair value hedge adjustment | 0 | 0 |
Liabilities of Cumulative fair value hedge adjustment | 0 | 0 |
Changes if fair value in the period | 115,867 | 63,860 |
Cash flow hedge reserve | (11,188) | (2,006) |
Foreign currency conversion reserves | 0 | 0 |
Hedges of net investment in foreign operations | Foreign exchange risk | ||
Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity [Line Items] | ||
Carrying value of assets | 0 | 0 |
Carrying value of liabilities | 0 | 0 |
Assets of Cumulative fair value hedge adjustment | 0 | 0 |
Liabilities of Cumulative fair value hedge adjustment | 0 | 0 |
Changes if fair value in the period | (49,463) | (35,879) |
Cash flow hedge reserve | 0 | 0 |
Foreign currency conversion reserves | ₩ (88,953) | ₩ 138,416 |
Securities at fair value thro_3
Securities at fair value through other comprehensive income and securities at amortized cost (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | ₩ 59,381,053 | ₩ 38,314,170 |
Securities at amortized cost | 45,582,065 | 28,478,136 |
Debt securities | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | 58,573,094 | 37,677,645 |
Securities at amortized cost | 45,582,065 | 28,478,136 |
Government | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | 17,597,910 | 8,975,391 |
Securities at amortized cost | 30,385,084 | 18,000,454 |
Financial institutions | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | 21,527,242 | 17,341,330 |
Securities at amortized cost | 4,770,204 | 2,171,623 |
Corporate bonds and others | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | 19,447,942 | 11,360,924 |
Securities at amortized cost | 10,426,777 | 8,306,059 |
Equity securities | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | 807,959 | 636,525 |
Stocks | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | 728,311 | 630,010 |
Equity investments | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | 5,356 | 6,515 |
Others | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | ₩ 74,292 | ₩ 0 |
Changes in carrying value of se
Changes in carrying value of securities at fair value through other comprehensive income and securities at amortized cost (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Securities at fair value through other comprehensive income | ||
Changes in carrying value of securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Beginning balance | ₩ 37,677,645 | ₩ 36,657,807 |
Transfer to 12 months expected credit loss | 0 | |
Transfer to other type of measurement, carrying value | 0 | 0 |
Purchase | 46,908,632 | 27,037,290 |
Disposal | (16,119,228) | (7,201,030) |
Repayment | (21,129,182) | (19,338,938) |
Others | 282,435 | 522,516 |
Business combination (Note 50) | 10,952,792 | |
Ending balance | 58,573,094 | 37,677,645 |
Securities at fair value through other comprehensive income | 12-month expected credit losses | ||
Changes in carrying value of securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Beginning balance | 37,571,814 | 36,641,928 |
Transfer to 12 months expected credit loss | 34,555 | |
Transfer to other type of measurement, carrying value | (64,928) | (26,187) |
Purchase | 46,847,222 | 26,938,512 |
Disposal | (16,109,006) | (7,182,343) |
Repayment | (21,129,182) | (19,338,938) |
Others | 230,733 | 538,842 |
Business combination (Note 50) | 10,952,792 | |
Ending balance | 58,334,000 | 37,571,814 |
Securities at fair value through other comprehensive income | Lifetime expected credit losses | ||
Changes in carrying value of securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Beginning balance | 105,831 | 15,879 |
Transfer to 12 months expected credit loss | (34,555) | |
Transfer to other type of measurement, carrying value | 64,928 | 26,187 |
Purchase | 61,410 | 98,778 |
Disposal | (10,222) | (18,687) |
Repayment | 0 | 0 |
Others | 51,702 | (16,326) |
Business combination (Note 50) | 0 | |
Ending balance | 239,094 | 105,831 |
Securities at amortized cost | ||
Changes in carrying value of securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Beginning balance | 28,487,396 | 24,424,867 |
Transfer to 12 months expected credit loss | 0 | |
Transfer to other type of measurement, carrying value | 0 | 0 |
Purchase | 12,209,898 | 5,836,342 |
Disposal | 0 | 0 |
Repayment | (6,722,560) | (1,607,470) |
Others | 343,102 | (166,343) |
Business combination (Note 50) | 11,273,999 | |
Ending balance | 45,591,835 | 28,487,396 |
Securities at amortized cost | 12-month expected credit losses | ||
Changes in carrying value of securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Beginning balance | 28,464,921 | 24,403,423 |
Transfer to 12 months expected credit loss | 20,198 | |
Transfer to other type of measurement, carrying value | 0 | 0 |
Purchase | 12,209,898 | 5,836,342 |
Disposal | 0 | 0 |
Repayment | (6,722,560) | (1,607,467) |
Others | 322,107 | (167,377) |
Business combination (Note 50) | 11,273,999 | |
Ending balance | 45,568,563 | 28,464,921 |
Securities at amortized cost | Lifetime expected credit losses | ||
Changes in carrying value of securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Beginning balance | 22,475 | 21,444 |
Transfer to 12 months expected credit loss | (20,198) | |
Transfer to other type of measurement, carrying value | 0 | 0 |
Purchase | 0 | 0 |
Disposal | 0 | 0 |
Repayment | 0 | (3) |
Others | 20,995 | 1,034 |
Business combination (Note 50) | 0 | |
Ending balance | ₩ 23,272 | ₩ 22,475 |
Changes in allowance for credit
Changes in allowance for credit loss of securities at fair value through other comprehensive income and securities at amortized cost (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financial assets at fair value through other comprehensive income | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | ₩ 26,084 | ₩ 18,976 |
Transfer to 12 months expected credit loss | 0 | |
Transfer to other type of measurement, allowance | 0 | 0 |
Provision (reversal) | 5,787 | 12,066 |
Disposal | (5,598) | (5,480) |
Others | 1,963 | 522 |
Ending balance | 28,236 | 26,084 |
Financial assets at fair value through other comprehensive income | 12-month expected credit losses | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | 25,722 | 17,038 |
Transfer to 12 months expected credit loss | 33 | |
Transfer to other type of measurement, allowance | (60) | (234) |
Provision (reversal) | 8,403 | 15,286 |
Disposal | (5,340) | (5,251) |
Others | (1,177) | (1,117) |
Ending balance | 27,581 | 25,722 |
Financial assets at fair value through other comprehensive income | Lifetime expected credit losses | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | 362 | 1,938 |
Transfer to 12 months expected credit loss | (33) | |
Transfer to other type of measurement, allowance | 60 | 234 |
Provision (reversal) | (2,616) | (3,220) |
Disposal | (258) | (229) |
Others | 3,140 | 1,639 |
Ending balance | 655 | 362 |
Securities at amortized cost | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | 9,260 | 8,559 |
Transfer to 12 months expected credit loss | 0 | |
Transfer to other type of measurement, allowance | 0 | 0 |
Provision (reversal) | 543 | 2,400 |
Disposal | 0 | 0 |
Others | (33) | (1,699) |
Ending balance | 9,770 | 9,260 |
Securities at amortized cost | 12-month expected credit losses | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | 9,243 | 6,327 |
Transfer to 12 months expected credit loss | 4,301 | |
Transfer to other type of measurement, allowance | 0 | 0 |
Provision (reversal) | (3,752) | 4,615 |
Disposal | 0 | 0 |
Others | (33) | (1,699) |
Ending balance | 9,759 | 9,243 |
Securities at amortized cost | Lifetime expected credit losses | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | 17 | 2,232 |
Transfer to 12 months expected credit loss | (4,301) | |
Transfer to other type of measurement, allowance | 0 | 0 |
Provision (reversal) | 4,295 | (2,215) |
Disposal | 0 | 0 |
Others | 0 | 0 |
Ending balance | ₩ 11 | ₩ 17 |
Gain or loss on disposal of sec
Gain or loss on disposal of securities at fair value through other comprehensive income and securities at amortized cost (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Gain or loss on disposal of financial assets at fair value through other comprehensive income and securities at amortized cost [Abstract] | |||
Gain on disposal of financial assets at fair value through other comprehensive income | ₩ 159,883 | ₩ 28,018 | |
Loss on disposal of financial assets at fair value through other comprehensive income | (7,605) | (7,464) | |
Gain on disposal of securities at amortized cost | [1] | 86 | 0 |
Loss on disposal of securities at amortized cost | [1] | (20) | (9) |
Total | ₩ 152,344 | ₩ 20,545 | |
[1] | The issuers of those securities have exercised the early redemption options. |
Income or loss on equity securi
Income or loss on equity securities at fair value through other comprehensive income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income or loss on equity securities at fair value through other comprehensive income [Abstract] | ||
Fair value at the date of disposal | ₩ 45,074 | ₩ 3,285 |
Cumulative net profit at the time of disposal | ₩ (10,843) | ₩ (3,635) |
Loans at amortized cost (Detail
Loans at amortized cost (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loans at amortized cost [Abstract] | |||
Household loans | ₩ 134,423,473 | ₩ 120,832,081 | |
Corporate loans | 161,029,877 | 152,164,476 | |
Public and other loans | 3,311,735 | 2,831,026 | |
Loans to banks | 2,633,532 | 3,585,563 | |
Card receivables | 24,024,491 | 22,447,614 | |
Loans at amortized cost, Gross, Total | 325,423,108 | 301,860,760 | |
Discount | (27,824) | (23,588) | |
Deferred loan origination costs and fees | 534,530 | 497,368 | ₩ 434,746 |
Loans at amortized cost before Allowance for credit losses, Total | 325,929,814 | 302,334,540 | |
Allowance for credit losses | (2,684,835) | (2,725,068) | |
Loans at amortized cost, Net, Total | ₩ 323,244,979 | ₩ 299,609,472 |
Changes in loans at amortized c
Changes in loans at amortized cost and other assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loans at amortized cost net category | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | ₩ 302,334,540 | ₩ 277,126,029 |
Transfer (from) to 12 month expected credit losses | 0 | 0 |
Transfer (from) to lifetime expected credit losses | 0 | 0 |
Transfer (from) to credit- impaired financial assets | 0 | 0 |
Origination | 135,861,512 | 131,739,520 |
Collection | (114,519,100) | (105,629,887) |
Charge off | (858,722) | (851,397) |
Disposal | (537,150) | (723,462) |
Others | 730,686 | 673,737 |
Business combination (Note 50) | 2,918,048 | |
Ending balance | 325,929,814 | 302,334,540 |
Loans at amortized cost net category | Retail | 12-month expected credit losses | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 114,279,870 | 104,325,268 |
Transfer (from) to 12 month expected credit losses | 2,619,036 | 3,406,566 |
Transfer (from) to lifetime expected credit losses | (5,385,659) | (4,920,514) |
Transfer (from) to credit- impaired financial assets | (627,950) | (536,996) |
Origination | 51,784,970 | 47,789,131 |
Collection | (38,870,803) | (35,972,892) |
Charge off | 0 | 0 |
Disposal | 0 | (42,664) |
Others | 320,096 | 231,971 |
Business combination (Note 50) | 2,466,991 | |
Ending balance | 126,586,551 | 114,279,870 |
Loans at amortized cost net category | Retail | Lifetime expected credit losses | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 6,820,058 | 7,345,842 |
Transfer (from) to 12 month expected credit losses | (2,614,416) | (3,402,543) |
Transfer (from) to lifetime expected credit losses | 5,406,091 | 4,935,853 |
Transfer (from) to credit- impaired financial assets | (43,168) | (36,489) |
Origination | 25,296 | 34,200 |
Collection | (1,814,003) | (2,046,703) |
Charge off | 0 | 0 |
Disposal | (5,122) | (3,059) |
Others | 88,420 | (7,043) |
Business combination (Note 50) | 7,752 | |
Ending balance | 7,870,908 | 6,820,058 |
Loans at amortized cost net category | Retail | Financial instruments credit-impaired | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 348,722 | 301,838 |
Transfer (from) to 12 month expected credit losses | (4,620) | (4,023) |
Transfer (from) to lifetime expected credit losses | (20,432) | (15,339) |
Transfer (from) to credit- impaired financial assets | 671,118 | 573,485 |
Origination | 4,469 | 5,396 |
Collection | (238,174) | (215,294) |
Charge off | (257,742) | (227,787) |
Disposal | (108,624) | (74,664) |
Others | 10,744 | 5,110 |
Business combination (Note 50) | 10,431 | |
Ending balance | 415,892 | 348,722 |
Loans at amortized cost net category | Corporations | 12-month expected credit losses | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 129,468,766 | 119,852,620 |
Transfer (from) to 12 month expected credit losses | 4,093,725 | 3,736,019 |
Transfer (from) to lifetime expected credit losses | (16,484,206) | (15,002,047) |
Transfer (from) to credit- impaired financial assets | (1,088,270) | (1,349,787) |
Origination | 75,800,467 | 75,450,183 |
Collection | (57,057,718) | (53,902,860) |
Charge off | 0 | 0 |
Disposal | (117,453) | (79,250) |
Others | 583,534 | 763,888 |
Business combination (Note 50) | 392,828 | |
Ending balance | 135,591,673 | 129,468,766 |
Loans at amortized cost net category | Corporations | Lifetime expected credit losses | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 21,782,590 | 18,455,422 |
Transfer (from) to 12 month expected credit losses | (4,088,373) | (3,734,730) |
Transfer (from) to lifetime expected credit losses | 16,597,346 | 15,051,204 |
Transfer (from) to credit- impaired financial assets | (76,177) | (114,560) |
Origination | 480,163 | 386,318 |
Collection | (9,966,512) | (8,365,144) |
Charge off | 0 | 0 |
Disposal | (3,806) | (15,997) |
Others | (80,749) | 120,077 |
Business combination (Note 50) | 17,180 | |
Ending balance | 24,661,662 | 21,782,590 |
Loans at amortized cost net category | Corporations | Financial instruments credit-impaired | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 919,381 | 1,084,348 |
Transfer (from) to 12 month expected credit losses | (5,352) | (1,289) |
Transfer (from) to lifetime expected credit losses | (113,140) | (49,157) |
Transfer (from) to credit- impaired financial assets | 1,164,447 | 1,464,347 |
Origination | 2,485 | 9,260 |
Collection | (395,670) | (758,426) |
Charge off | (259,400) | (312,841) |
Disposal | (283,747) | (493,273) |
Others | (50,283) | (23,588) |
Business combination (Note 50) | 22,866 | |
Ending balance | 1,001,587 | 919,381 |
Loans at amortized cost net category | Credit card | 12-month expected credit losses | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 18,155,156 | 16,467,623 |
Transfer (from) to 12 month expected credit losses | 320,288 | 318,142 |
Transfer (from) to lifetime expected credit losses | (603,069) | (587,777) |
Transfer (from) to credit- impaired financial assets | (36,483) | (37,526) |
Origination | 1,647,393 | 2,633,086 |
Collection | (59,799) | (74,777) |
Charge off | 0 | 0 |
Disposal | 0 | 0 |
Others | (3,880) | (563,615) |
Business combination (Note 50) | 0 | |
Ending balance | 19,419,606 | 18,155,156 |
Loans at amortized cost net category | Credit card | Lifetime expected credit losses | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 3,830,509 | 3,743,265 |
Transfer (from) to 12 month expected credit losses | (320,129) | (318,025) |
Transfer (from) to lifetime expected credit losses | 603,280 | 588,002 |
Transfer (from) to credit- impaired financial assets | (22,473) | (25,522) |
Origination | 315,643 | 6,285 |
Collection | (5,328) | (120,969) |
Charge off | 0 | 0 |
Disposal | 0 | 0 |
Others | (276,926) | (42,527) |
Business combination (Note 50) | 0 | |
Ending balance | 4,124,576 | 3,830,509 |
Loans at amortized cost net category | Credit card | Financial instruments credit-impaired | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 413,175 | 385,252 |
Transfer (from) to 12 month expected credit losses | (159) | (117) |
Transfer (from) to lifetime expected credit losses | (211) | (225) |
Transfer (from) to credit- impaired financial assets | 58,956 | 63,048 |
Origination | 305,487 | 181,250 |
Collection | 253 | (1,511) |
Charge off | (332,862) | (308,202) |
Disposal | 0 | 0 |
Others | (404) | 93,680 |
Business combination (Note 50) | 0 | |
Ending balance | 444,235 | 413,175 |
Loans at amortized cost net category | Others | 12-month expected credit losses | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 5,695,187 | 4,665,298 |
Transfer (from) to 12 month expected credit losses | 37,430 | 71,381 |
Transfer (from) to lifetime expected credit losses | (210,161) | (366,998) |
Transfer (from) to credit- impaired financial assets | (39,844) | (24,068) |
Origination | 5,495,139 | 5,244,411 |
Collection | (5,949,565) | (3,988,422) |
Charge off | 0 | 0 |
Disposal | 0 | 0 |
Others | 139,207 | 93,585 |
Business combination (Note 50) | 0 | |
Ending balance | 5,167,393 | 5,695,187 |
Loans at amortized cost net category | Others | Lifetime expected credit losses | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 605,440 | 486,090 |
Transfer (from) to 12 month expected credit losses | (37,430) | (71,381) |
Transfer (from) to lifetime expected credit losses | 210,333 | 366,998 |
Transfer (from) to credit- impaired financial assets | 0 | (8,557) |
Origination | 0 | 0 |
Collection | (149,802) | (169,909) |
Charge off | 0 | 0 |
Disposal | 0 | 0 |
Others | 927 | 2,199 |
Business combination (Note 50) | 0 | |
Ending balance | 629,468 | 605,440 |
Loans at amortized cost net category | Others | Financial instruments credit-impaired | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 15,686 | 13,163 |
Transfer (from) to 12 month expected credit losses | 0 | 0 |
Transfer (from) to lifetime expected credit losses | (172) | 0 |
Transfer (from) to credit- impaired financial assets | 39,844 | 32,625 |
Origination | 0 | 0 |
Collection | (11,979) | (12,980) |
Charge off | (8,718) | (2,567) |
Disposal | (18,398) | (14,555) |
Others | 0 | 0 |
Business combination (Note 50) | 0 | |
Ending balance | 16,263 | 15,686 |
Others | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 31,640,158 | 32,078,984 |
Transfer (from) to 12 month expected credit losses | 0 | 0 |
Transfer (from) to lifetime expected credit losses | 0 | 0 |
Transfer (from) to credit- impaired financial assets | 0 | 0 |
Origination | 62,387,828 | 30,134,322 |
Collection | (52,107,369) | (30,622,369) |
Charge off | (29,456) | (20,984) |
Disposal | (183,277) | (13,578) |
Others | 261,061 | 83,783 |
Business combination (Note 50) | 1,428,539 | |
Ending balance | 43,397,484 | 31,640,158 |
Others | 12-month expected credit losses | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 31,508,694 | 31,599,203 |
Transfer (from) to 12 month expected credit losses | 12,685 | 28,028 |
Transfer (from) to lifetime expected credit losses | (253,546) | (51,596) |
Transfer (from) to credit- impaired financial assets | (3,124) | (22,162) |
Origination | 62,331,232 | 30,085,141 |
Collection | (51,845,962) | (30,207,574) |
Charge off | 0 | 0 |
Disposal | (182,212) | 0 |
Others | 261,019 | 77,654 |
Business combination (Note 50) | 1,416,216 | |
Ending balance | 43,245,002 | 31,508,694 |
Others | Lifetime expected credit losses | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 99,461 | 456,538 |
Transfer (from) to 12 month expected credit losses | (12,675) | (28,024) |
Transfer (from) to lifetime expected credit losses | 253,575 | 51,607 |
Transfer (from) to credit- impaired financial assets | (5,324) | (2,986) |
Origination | 29,315 | 27,251 |
Collection | (259,371) | (410,559) |
Charge off | 0 | 0 |
Disposal | (3) | (495) |
Others | 42 | 6,129 |
Business combination (Note 50) | 1,497 | |
Ending balance | 106,517 | 99,461 |
Others | Financial instruments credit-impaired | ||
Changes in loans at amortized cost and other assets [Line Items] | ||
Beginning balance | 32,003 | 23,243 |
Transfer (from) to 12 month expected credit losses | (10) | (4) |
Transfer (from) to lifetime expected credit losses | (29) | (11) |
Transfer (from) to credit- impaired financial assets | 8,448 | 25,148 |
Origination | 27,281 | 21,930 |
Collection | (2,036) | (4,236) |
Charge off | (29,456) | (20,984) |
Disposal | (1,062) | (13,083) |
Others | 0 | 0 |
Business combination (Note 50) | 10,826 | |
Ending balance | ₩ 45,965 | ₩ 32,003 |
Changes in allowances for credi
Changes in allowances for credit loss of loans at amortized cost and other assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loans at amortized cost net category | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | ₩ 2,725,068 | ₩ 2,871,986 |
Transfer (from) to 12 month expected credit losses | 0 | 0 |
Transfer (from) to lifetime expected credit losses | 0 | 0 |
Transfer (from) to credit- impaired financial assets | 0 | 0 |
Provided (reversed) | 910,898 | 704,515 |
Charge off | (858,722) | (851,397) |
Discount | (25,211) | (20,778) |
Disposal | (53,309) | (60,577) |
Collection | 325,906 | 311,280 |
Others | (383,597) | (229,961) |
Business combination (Note 50) | 43,802 | |
Ending balance | 2,684,835 | 2,725,068 |
Loans at amortized cost net category | Retail | 12-month expected credit losses | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 115,295 | 88,167 |
Transfer (from) to 12 month expected credit losses | 18,079 | 45,985 |
Transfer (from) to lifetime expected credit losses | (9,411) | (5,862) |
Transfer (from) to credit- impaired financial assets | (942) | (750) |
Provided (reversed) | (7,751) | (10,735) |
Charge off | 0 | 0 |
Discount | 0 | 0 |
Disposal | 0 | (302) |
Collection | 0 | 0 |
Others | 2,484 | (1,208) |
Business combination (Note 50) | 15,658 | |
Ending balance | 133,412 | 115,295 |
Loans at amortized cost net category | Retail | Lifetime expected credit losses | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 88,360 | 125,362 |
Transfer (from) to 12 month expected credit losses | (17,592) | (45,516) |
Transfer (from) to lifetime expected credit losses | 17,342 | 11,415 |
Transfer (from) to credit- impaired financial assets | (3,739) | (3,551) |
Provided (reversed) | 19,130 | 369 |
Charge off | 0 | 0 |
Discount | 0 | 0 |
Disposal | (241) | (17) |
Collection | 0 | 0 |
Others | (15,353) | 298 |
Business combination (Note 50) | 3,118 | |
Ending balance | 91,025 | 88,360 |
Loans at amortized cost net category | Retail | Financial instruments credit-impaired | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 156,459 | 160,536 |
Transfer (from) to 12 month expected credit losses | (487) | (469) |
Transfer (from) to lifetime expected credit losses | (7,931) | (5,553) |
Transfer (from) to credit- impaired financial assets | 4,681 | 4,301 |
Provided (reversed) | 214,260 | 169,495 |
Charge off | (257,742) | (227,787) |
Discount | (274) | (218) |
Disposal | (21,561) | (4,242) |
Collection | 70,319 | 57,065 |
Others | 4,522 | 3,331 |
Business combination (Note 50) | 6,792 | |
Ending balance | 169,038 | 156,459 |
Loans at amortized cost net category | Corporations | 12-month expected credit losses | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 434,793 | 472,685 |
Transfer (from) to 12 month expected credit losses | 50,720 | 49,898 |
Transfer (from) to lifetime expected credit losses | (35,790) | (43,180) |
Transfer (from) to credit- impaired financial assets | (565) | (798) |
Provided (reversed) | (43,230) | (49,962) |
Charge off | 0 | 0 |
Discount | 0 | 0 |
Disposal | (6) | (334) |
Collection | 0 | 0 |
Others | 13,810 | 6,484 |
Business combination (Note 50) | 20 | |
Ending balance | 419,752 | 434,793 |
Loans at amortized cost net category | Corporations | Lifetime expected credit losses | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 581,915 | 624,730 |
Transfer (from) to 12 month expected credit losses | (48,295) | (49,552) |
Transfer (from) to lifetime expected credit losses | 118,605 | 79,567 |
Transfer (from) to credit- impaired financial assets | (13,332) | (34,627) |
Provided (reversed) | (31,265) | (43,876) |
Charge off | 0 | 0 |
Discount | 0 | 0 |
Disposal | (245) | (357) |
Collection | 0 | 0 |
Others | (76,711) | 6,030 |
Business combination (Note 50) | 614 | |
Ending balance | 531,286 | 581,915 |
Loans at amortized cost net category | Corporations | Financial instruments credit-impaired | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 519,683 | 609,925 |
Transfer (from) to 12 month expected credit losses | (2,425) | (346) |
Transfer (from) to lifetime expected credit losses | (82,815) | (36,387) |
Transfer (from) to credit- impaired financial assets | 13,897 | 35,425 |
Provided (reversed) | 277,436 | 203,667 |
Charge off | (259,400) | (312,841) |
Discount | (19,396) | (17,653) |
Disposal | (30,436) | (52,871) |
Collection | 62,973 | 78,249 |
Others | (27,910) | 12,515 |
Business combination (Note 50) | 17,600 | |
Ending balance | 469,207 | 519,683 |
Loans at amortized cost net category | Credit card | 12-month expected credit losses | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 170,242 | 160,478 |
Transfer (from) to 12 month expected credit losses | 55,815 | 57,848 |
Transfer (from) to lifetime expected credit losses | (20,607) | (19,671) |
Transfer (from) to credit- impaired financial assets | (1,250) | (1,288) |
Provided (reversed) | 57,062 | 122,112 |
Charge off | 0 | 0 |
Discount | 0 | 0 |
Disposal | 0 | 0 |
Collection | 0 | 0 |
Others | (87,378) | (149,237) |
Business combination (Note 50) | 0 | |
Ending balance | 173,884 | 170,242 |
Loans at amortized cost net category | Credit card | Lifetime expected credit losses | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 351,765 | 335,170 |
Transfer (from) to 12 month expected credit losses | (55,712) | (57,814) |
Transfer (from) to lifetime expected credit losses | 20,756 | 19,687 |
Transfer (from) to credit- impaired financial assets | (3,916) | (3,793) |
Provided (reversed) | 280,047 | 132,670 |
Charge off | 0 | 0 |
Discount | 0 | 0 |
Disposal | 0 | 0 |
Collection | 0 | 0 |
Others | (227,692) | (74,155) |
Business combination (Note 50) | 0 | |
Ending balance | 365,248 | 351,765 |
Loans at amortized cost net category | Credit card | Financial instruments credit-impaired | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 280,098 | 278,759 |
Transfer (from) to 12 month expected credit losses | (103) | (34) |
Transfer (from) to lifetime expected credit losses | (149) | (16) |
Transfer (from) to credit- impaired financial assets | 5,166 | 5,081 |
Provided (reversed) | 147,332 | 166,338 |
Charge off | (332,862) | (308,202) |
Discount | (5,541) | (2,907) |
Disposal | 0 | 0 |
Collection | 190,738 | 175,120 |
Others | 30,171 | (34,041) |
Business combination (Note 50) | 0 | |
Ending balance | 314,850 | 280,098 |
Loans at amortized cost net category | Others | 12-month expected credit losses | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 10,670 | 9,283 |
Transfer (from) to 12 month expected credit losses | 757 | 433 |
Transfer (from) to lifetime expected credit losses | (159) | (221) |
Transfer (from) to credit- impaired financial assets | 0 | (4) |
Provided (reversed) | (4,067) | 1,165 |
Charge off | 0 | 0 |
Discount | 0 | 0 |
Disposal | 0 | 0 |
Collection | 0 | 0 |
Others | 300 | 14 |
Business combination (Note 50) | 0 | |
Ending balance | 7,501 | 10,670 |
Loans at amortized cost net category | Others | Lifetime expected credit losses | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 5,882 | 2,997 |
Transfer (from) to 12 month expected credit losses | (757) | (433) |
Transfer (from) to lifetime expected credit losses | 289 | 221 |
Transfer (from) to credit- impaired financial assets | 0 | (140) |
Provided (reversed) | 1,907 | 3,229 |
Charge off | 0 | 0 |
Discount | 0 | 0 |
Disposal | 0 | 0 |
Collection | 0 | 0 |
Others | 160 | 8 |
Business combination (Note 50) | 0 | |
Ending balance | 7,481 | 5,882 |
Loans at amortized cost net category | Others | Financial instruments credit-impaired | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 9,906 | 3,894 |
Transfer (from) to 12 month expected credit losses | 0 | 0 |
Transfer (from) to lifetime expected credit losses | (130) | 0 |
Transfer (from) to credit- impaired financial assets | 0 | 144 |
Provided (reversed) | 37 | 10,043 |
Charge off | (8,718) | (2,567) |
Discount | 0 | 0 |
Disposal | (820) | (2,454) |
Collection | 1,876 | 846 |
Others | 0 | 0 |
Business combination (Note 50) | 0 | |
Ending balance | 2,151 | 9,906 |
Others | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 71,621 | 66,880 |
Transfer (from) to 12 month expected credit losses | 0 | 0 |
Transfer (from) to lifetime expected credit losses | 0 | 0 |
Transfer (from) to credit- impaired financial assets | 0 | 0 |
Provided (reversed) | 33,945 | 24,070 |
Charge off | (29,456) | (20,984) |
Discount | 0 | 0 |
Disposal | 0 | (2,743) |
Collection | 1,873 | 1,815 |
Others | (9,294) | 2,583 |
Business combination (Note 50) | 10,160 | |
Ending balance | 78,849 | 71,621 |
Others | 12-month expected credit losses | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 39,927 | 39,048 |
Transfer (from) to 12 month expected credit losses | 458 | 581 |
Transfer (from) to lifetime expected credit losses | (231) | (212) |
Transfer (from) to credit- impaired financial assets | (172) | (94) |
Provided (reversed) | 2,822 | (1,998) |
Charge off | 0 | 0 |
Discount | 0 | 0 |
Disposal | 0 | 0 |
Collection | 0 | |
Others | (9,738) | 2,602 |
Business combination (Note 50) | 921 | |
Ending balance | 33,987 | 39,927 |
Others | Lifetime expected credit losses | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 6,930 | 7,666 |
Transfer (from) to 12 month expected credit losses | (453) | (578) |
Transfer (from) to lifetime expected credit losses | 244 | 222 |
Transfer (from) to credit- impaired financial assets | (2,310) | (2,209) |
Provided (reversed) | 2,667 | 1,775 |
Charge off | 0 | 0 |
Discount | 0 | 0 |
Disposal | 0 | (7) |
Collection | 0 | 0 |
Others | 9 | 61 |
Business combination (Note 50) | 185 | |
Ending balance | 7,272 | 6,930 |
Others | Financial instruments credit-impaired | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 24,764 | 20,166 |
Transfer (from) to 12 month expected credit losses | (5) | (3) |
Transfer (from) to lifetime expected credit losses | (13) | (10) |
Transfer (from) to credit- impaired financial assets | 2,482 | 2,303 |
Provided (reversed) | 28,456 | 24,293 |
Charge off | (29,456) | (20,984) |
Discount | 0 | 0 |
Disposal | 0 | (2,736) |
Collection | 1,873 | 1,815 |
Others | 435 | (80) |
Business combination (Note 50) | 9,054 | |
Ending balance | ₩ 37,590 | ₩ 24,764 |
Changes in deferred loan origin
Changes in deferred loan origination costs and fees (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Changes in deferred loan origination costs [Abstract] | ||
Beginning balance | ₩ 497,368 | ₩ 434,746 |
Loan origination | 232,943 | 235,032 |
Amortization | (208,998) | (172,410) |
Business combination (Note 50) | 13,217 | 0 |
Ending balance | ₩ 534,530 | ₩ 497,368 |
Property and equipment, net (De
Property and equipment, net (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of Property and equipment, net [Line Items] | ||
Land | ₩ 1,815,112 | ₩ 1,827,711 |
Buildings | 790,449 | 852,569 |
Right-of-use assets | 1,112,796 | |
Others | 364,971 | 323,606 |
Acquisition cost | ||
Disclosure of Property and equipment, net [Line Items] | ||
Land | 1,815,112 | 1,827,711 |
Buildings | 1,167,514 | 1,173,888 |
Right-of-use assets | 1,357,206 | |
Others | 2,130,805 | 2,002,755 |
Accumulated depreciation | ||
Disclosure of Property and equipment, net [Line Items] | ||
Land | 0 | 0 |
Buildings | (377,065) | (321,319) |
Right-of-use assets | (244,410) | |
Others | ₩ (1,765,834) | ₩ (1,679,149) |
Changes in property and equipme
Changes in property and equipment (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Schedule of Changes in property and equipment [Line Items] | |||
Beginning balance | ₩ 3,003,886 | ₩ 3,021,772 | |
Recognizes the right-of-use assets due to the adoption of IFRS 16 | 573,823 | ||
Acquisitions | 1,076,404 | 150,889 | |
Disposals | (43,644) | (30,716) | |
Depreciation | (479,657) | (171,771) | |
Amounts transferred from(to) investment property | (104,573) | 28,199 | |
Amounts transferred from(to) intangible assets | 271 | ||
Amounts transferred from(to) assets held for sale | [1] | (455) | (80) |
Effects of foreign currency movements | 14,031 | 5,593 | |
Business combination (Note 50) | 43,242 | ||
Ending balance | 4,083,328 | 3,003,886 | |
Land | |||
Schedule of Changes in property and equipment [Line Items] | |||
Beginning balance | 1,827,711 | 1,819,912 | |
Acquisitions | 69,045 | 33 | |
Disposals | (249) | (17,735) | |
Depreciation | 0 | 0 | |
Amounts transferred from(to) investment property | (81,311) | 23,972 | |
Amounts transferred from(to) intangible assets | 0 | ||
Amounts transferred from(to) assets held for sale | [1] | (410) | (32) |
Effects of foreign currency movements | 326 | 1,561 | |
Business combination (Note 50) | 0 | ||
Ending balance | 1,815,112 | 1,827,711 | |
Buildings | |||
Schedule of Changes in property and equipment [Line Items] | |||
Beginning balance | 852,569 | 883,421 | |
Acquisitions | 16,946 | 14,612 | |
Disposals | (1,719) | (3,282) | |
Depreciation | (55,450) | (47,207) | |
Amounts transferred from(to) investment property | (23,262) | 4,227 | |
Amounts transferred from(to) intangible assets | 0 | ||
Amounts transferred from(to) assets held for sale | [1] | (45) | (48) |
Effects of foreign currency movements | 1,410 | 846 | |
Business combination (Note 50) | 0 | ||
Ending balance | 790,449 | 852,569 | |
Right-of-use assets | |||
Schedule of Changes in property and equipment [Line Items] | |||
Recognizes the right-of-use assets due to the adoption of IFRS 16 | 583,576 | ||
Acquisitions | 805,783 | ||
Disposals | (12,595) | ||
Depreciation | (298,538) | ||
Amounts transferred from(to) investment property | 0 | ||
Amounts transferred from(to) intangible assets | 0 | ||
Amounts transferred from(to) assets held for sale | [1] | 0 | |
Effects of foreign currency movements | 2,981 | ||
Business combination (Note 50) | 31,589 | ||
Ending balance | 1,112,796 | ||
Others | |||
Schedule of Changes in property and equipment [Line Items] | |||
Beginning balance | 323,606 | 318,439 | |
Recognizes the right-of-use assets due to the adoption of IFRS 16 | (9,753) | ||
Acquisitions | 184,630 | 136,244 | |
Disposals | (29,081) | (9,699) | |
Depreciation | (125,669) | (124,564) | |
Amounts transferred from(to) investment property | 0 | 0 | |
Amounts transferred from(to) intangible assets | 271 | ||
Amounts transferred from(to) assets held for sale | [1] | 0 | 0 |
Effects of foreign currency movements | 9,314 | 3,186 | |
Business combination (Note 50) | 11,653 | ||
Ending balance | ₩ 364,971 | ₩ 323,606 | |
[1] | Included buildings, land. |
Insured assets (Details)
Insured assets (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2019KRW (₩) | |
Cash (including ATM) | |
Insured assets [Line Items] | |
Amount covered | ₩ 23,200 |
Type of insurance | Comprehensive insurance for financial institutions |
Insurance company | Samsung Fire & Marine Insurance Co., Ltd., etc. |
Property total risk, Machine risk, General liability collateral | |
Insured assets [Line Items] | |
Amount covered | ₩ 1,315,820 |
Type of insurance | Comprehensive Property insurance |
Insurance company | Samsung Fire & Marine Insurance Co., Ltd., etc. |
Business property and real estate | |
Insured assets [Line Items] | |
Amount covered | ₩ 22,141 |
Type of insurance | Fire insurance |
Insurance company | Meritz Fire & Marine Insurance Co., Ltd., etc. |
Officer liability of executives | |
Insured assets [Line Items] | |
Amount covered | ₩ 60,000 |
Type of insurance | Compensation liability insurance for officers |
Insurance company | Meritz Fire & Marine Insurance Co., Ltd., etc. |
Employees | |
Insured assets [Line Items] | |
Amount covered | ₩ 70,841 |
Type of insurance | Compensation liability insurance for employee accident |
Insurance company | Meritz Fire & Marine Insurance Co., Ltd., etc. |
Cash and securities | |
Insured assets [Line Items] | |
Amount covered | ₩ 83,485 |
Type of insurance | Burglary insurance |
Insurance company | Samsung Fire & Marine Insurance Co., Ltd., etc. |
Personal information liability insurance etc. | |
Insured assets [Line Items] | |
Amount covered | ₩ 32,260 |
Type of insurance | Others |
Insurance company | Samsung Fire & Marine Insurance Co., Ltd. |
Intangible assets, net (Details
Intangible assets, net (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Intangible assets, net [Abstract] | |||
Goodwill | ₩ 4,690,049 | ₩ 3,903,518 | ₩ 3,901,260 |
Software | 129,235 | 102,393 | |
Development cost | 144,100 | 82,536 | |
Other | 595,330 | 231,687 | |
Intangible assets, net | ₩ 5,558,714 | ₩ 4,320,134 | ₩ 4,273,321 |
Changes in intangible assets (D
Changes in intangible assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Changes in intangible assets [Line Items] | |||
Beginning balance | ₩ 4,320,134 | ₩ 4,273,321 | |
Acquisitions | 803,617 | 163,740 | |
Business combination | 871,285 | 2,258 | |
Disposals | (18,214) | (13,331) | |
Amounts transferred from(to) property and equipment | (271) | 0 | |
Impairment | [1],[2] | (151,643) | (1,068) |
Amortization | [3],[4] | (267,943) | (107,179) |
Effects of foreign currency movements | 1,749 | 2,393 | |
Ending balance | 5,558,714 | 4,320,134 | |
Goodwill | |||
Changes in intangible assets [Line Items] | |||
Beginning balance | 3,903,518 | 3,901,260 | |
Acquisitions | 0 | 0 | |
Business combination | 786,531 | 2,258 | |
Disposals | 0 | 0 | |
Amounts transferred from(to) property and equipment | 0 | 0 | |
Impairment | [1],[2] | 0 | 0 |
Amortization | [3],[4] | 0 | 0 |
Effects of foreign currency movements | 0 | 0 | |
Ending balance | 4,690,049 | 3,903,518 | |
Software | |||
Changes in intangible assets [Line Items] | |||
Beginning balance | 102,393 | 83,829 | |
Acquisitions | 56,834 | 56,009 | |
Business combination | 9,469 | 0 | |
Disposals | (428) | (334) | |
Amounts transferred from(to) property and equipment | 697 | 0 | |
Impairment | [1],[2] | 0 | 0 |
Amortization | [3],[4] | (40,578) | (40,792) |
Effects of foreign currency movements | 848 | 3,681 | |
Ending balance | 129,235 | 102,393 | |
Development cost | |||
Changes in intangible assets [Line Items] | |||
Beginning balance | 82,536 | 75,322 | |
Acquisitions | 71,713 | 38,230 | |
Business combination | 30,435 | 0 | |
Disposals | (1,310) | (5,880) | |
Amounts transferred from(to) property and equipment | (968) | 0 | |
Impairment | [1],[2] | (474) | (706) |
Amortization | [3],[4] | (37,832) | (24,430) |
Effects of foreign currency movements | 0 | 0 | |
Ending balance | 144,100 | 82,536 | |
Other | |||
Changes in intangible assets [Line Items] | |||
Beginning balance | 231,687 | 212,910 | |
Acquisitions | 675,070 | 69,501 | |
Business combination | 44,850 | 0 | |
Disposals | (16,476) | (7,117) | |
Amounts transferred from(to) property and equipment | 0 | 0 | |
Impairment | [1],[2] | (151,169) | (362) |
Amortization | [3],[4] | (189,533) | (41,957) |
Effects of foreign currency movements | 901 | (1,288) | |
Ending balance | ₩ 595,330 | ₩ 231,687 | |
[1] | Memberships such as golf and condominium memberships are intangible assets that cannot be limited to a specific period of time. If the market value of the exchanges is less than the carrying amount at the end of the reporting period, the impairment loss is recognized. | ||
[2] | The Group reviewed the recoverable value of intangible assets related to the rights to be the depository bank of local governments due to the performance below forecast and future prospects. For the year ended December 31, 2019, the impairment loss amounted to W151,523 million. The impairment loss was included in the non-operating expenses in the consolidated statement of comprehensive income. | ||
[3] | Included in general administrative expense and other operating income of the consolidated comprehensive income. | ||
[4] | Included in general administrative expense and other operating income of the consolidated statements of comprehensive income. |
Goodwill allocated in the Group
Goodwill allocated in the Group's CGUs (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Goodwill | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | ₩ 4,690,049 | ₩ 3,903,518 |
Banking | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | 810,058 | 810,058 |
Credit card | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | 2,880,383 | 2,773,231 |
Securities | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | 7,904 | 7,904 |
Shinhan Life Insurance | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | 275,371 | 275,371 |
Orange Life insurance | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | 564,576 | |
Others | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | ₩ 151,757 | ₩ 36,954 |
Changes in goodwill (Details)
Changes in goodwill (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Changes in Goodwill [Abstract] | |||
Beginning balance | ₩ 3,903,518 | ₩ 3,901,260 | |
Acquisitions through business combinations | [1],[2] | 786,531 | 2,258 |
Ending balance | ₩ 4,690,049 | ₩ 3,903,518 | |
[1] | recognized as a result of the Group's acquisitions of Orange Life Insurance Co., Ltd.("Orange Life"), Asia Trust Co., and the Shinhan Card's acquisition of the new business for the year ended December 31, 2019 (Note 50). | ||
[2] | recognized as a result of the Shinhan Financial Investment Corp. acquisition of the new business for the year ended December 31, 2018. |
Total recoverable amount and to
Total recoverable amount and total carrying value of CGUs to which goodwill has been allocated, are as follows (Details) ₩ in Millions | Dec. 31, 2019KRW (₩) |
Total Recoverable Amount And Total Carrying Value Of CGUs To Which Goodwill Has Been Allocated, Are As Follows [Abstract] | |
Total recoverable amount | ₩ 46,896,966 |
Total carrying value | 41,902,106 |
Difference | ₩ 4,994,860 |
Investments in associates (Deta
Investments in associates (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
BNP Paribas Cardif Life Insurance | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 30, 2019 | |
Ownership at beginning of period | 14.99% | |
Ownership at end of period | 14.99% | 14.99% |
Daewontos Co., Ltd. | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 36.33% | |
Ownership at end of period | 0.00% | 36.33% |
Neoplux Technology Valuation Investment Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 30, 2019 | |
Ownership at beginning of period | 33.33% | |
Ownership at end of period | 33.33% | 33.33% |
Partners 4th Growth Investment Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 30, 2019 | |
Ownership at beginning of period | 25.00% | |
Ownership at end of period | 25.00% | 25.00% |
Songrim Partners | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 35.34% | |
Ownership at end of period | 35.34% | 35.34% |
KTB Newlake Global Healthcare PEF | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 30, 2019 | |
Ownership at beginning of period | 30.00% | |
Ownership at end of period | 30.00% | 30.00% |
JAEYANG INDUSTRY | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 30, 2019 | |
Ownership at beginning of period | 25.90% | |
Ownership at end of period | 0.00% | 25.90% |
DAEKWANG SEMICONDUCTOR CO., LTD. | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 30, 2019 | |
Ownership at beginning of period | 20.94% | |
Ownership at end of period | 20.94% | 20.94% |
Shinhan-Neoplux Energy Newbiz Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 30, 2019 | |
Ownership at beginning of period | 23.33% | |
Ownership at end of period | 23.33% | 23.33% |
Shinhan-Albatross Tech Investment Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 50.00% | |
Ownership at end of period | 50.00% | 50.00% |
KCLAVIS Meister Fund No.17 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 26.09% | |
Ownership at end of period | 26.09% | 26.09% |
Plutus-SG Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 26.67% | |
Ownership at end of period | 26.67% | 26.67% |
SG ARGES Private Equity Fund No.1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 24.06% | |
Ownership at end of period | 0.00% | 24.06% |
Eum Private Equity Fund No.3 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 20.76% | |
Ownership at end of period | 20.76% | 20.76% |
KTB Confidence Private Placement | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 30.29% | |
Ownership at end of period | 31.43% | 30.29% |
Meritz AI-SingA330-A Investment Type Private Placement Special Asset Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 23.89% | |
Ownership at end of period | 23.89% | 23.89% |
Meritz AI-SingA330-B Investment Type Private Placement Special Asset Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 20.16% | |
Ownership at end of period | 20.16% | 20.16% |
VOGO DEBT STRATEGY QUALIFIED INV PRIVATE R/E INV TR 4 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 20.00% | |
Ownership at end of period | 20.00% | 20.00% |
Platform Partners brick save Private Investment trust | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 98.77% | |
Ownership at end of period | 0.00% | 98.77% |
Shinhan-Midas Donga Secondary Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 50.00% | |
Ownership at end of period | 50.00% | 50.00% |
ShinHan - Soo Young Entrepreneur Investment Fund No.1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 24.00% | |
Ownership at end of period | 24.00% | 24.00% |
Synergy-Shinhan Mezzanine New Technology Investment Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 47.62% | |
Ownership at end of period | 47.62% | 47.62% |
Shinhan Praxis K-Growth Global Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 18.87% | |
Ownership at end of period | 18.87% | 18.87% |
Credian Healthcare Private Equity Fund II | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 34.07% | |
Ownership at end of period | 34.07% | 34.07% |
Kiwoom Milestone Professional Private Real Estate Trust 19 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 50.00% | |
Ownership at end of period | 50.00% | 50.00% |
AIP EUROGREEN Private Real Estate Investment Trust No.3 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 21.28% | |
Ownership at end of period | 21.28% | 21.28% |
Brain Professional Private Trust No.4 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 27.50% | |
Ownership at end of period | 0.00% | 27.50% |
Hanhwa US Equity Strategy Private Real Estate Fund No.1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 44.84% | |
Ownership at end of period | 44.84% | 44.84% |
Brain KS Qualified Privately Placed Fund No.6 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 50.00% | |
Ownership at end of period | 0.00% | 50.00% |
Shinhan Global Healthcare Fund 1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 4.41% | |
Ownership at end of period | 4.41% | 4.41% |
JB Power TL Investment Type Private Placement Special Asset Fund 7 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 33.33% | |
Ownership at end of period | 33.33% | 33.33% |
IBK AONE convertible 1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 47.25% | |
Ownership at end of period | 47.25% | 47.25% |
Rico synergy collabo Multi-Mezzanine 3 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 50.03% | |
Ownership at end of period | 50.03% | 50.03% |
KB NA Hickory Private Special Asset Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 37.50% | |
Ownership at end of period | 37.50% | 37.50% |
GB Professional Private Investment Trust 6 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 94.51% | |
Ownership at end of period | 0.00% | 94.51% |
Koramco Europe Core Private Placement Real Estate Fund No.2-2 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 44.02% | |
Ownership at end of period | 44.02% | 44.02% |
SHBNPP Private Korea Equity Long-Short Professional Feeder | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 21.52% | |
Ownership at end of period | 0.00% | 21.52% |
Shinhan-Stonebridge Petro PEF | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 1.82% | |
Ownership at end of period | 1.82% | 1.82% |
BNP Paribas Cardif General Insurance | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 30, 2019 | |
Ownership at beginning of period | 10.00% | |
Ownership at end of period | 10.00% | 10.00% |
Axis Global Growth New Technology Investment Association | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 31.85% | |
Ownership at end of period | 31.85% | 31.85% |
Polaris No7 Start up and Venture Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 28.57% | |
Ownership at end of period | 28.57% | 28.57% |
Hermes Private Investment Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 29.17% | |
Ownership at end of period | 29.17% | 29.17% |
SHC ULMUS Fund No.1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 29.41% | |
Ownership at end of period | 29.41% | 29.41% |
Shinhan-Nvestor Liquidity Solution Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 24.92% | |
Ownership at end of period | 24.92% | 24.92% |
Shinhan AIM FoF Fund 1a | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 24.91% | |
Ownership at end of period | 25.00% | 24.91% |
Daishin Heim Qualified Investor Private Investment Trust No.1808 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 34.48% | |
Ownership at end of period | 0.00% | 34.48% |
Heungkuk High Class Professional Trust Private Fund 37 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 50.00% | |
Ownership at end of period | 0.00% | 50.00% |
IGIS Global Credit Fund 150-1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 25.11% | |
Ownership at end of period | 25.00% | 25.11% |
GX SHINHAN INTERVEST 1st Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 25.27% | |
Ownership at end of period | 25.27% | 25.27% |
Soo Commerce Platform Growth Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 24.62% | |
Ownership at end of period | 24.62% | 24.62% |
Partner One Value up I Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 27.91% | |
Ownership at end of period | 27.91% | 27.91% |
Genesis No.1 Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 22.80% | |
Ownership at end of period | 22.80% | 22.80% |
GMB ICT New Technology Investment Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 26.75% | |
Ownership at end of period | 26.75% | 26.75% |
Korea Omega Project Fund III | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 23.53% | |
Ownership at end of period | 23.53% | 23.53% |
Soo Delivery Platform Growth Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 30.00% | |
Ownership at end of period | 30.00% | 30.00% |
Genesis North America Power Company No.1 PEF | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 39.92% | |
Ownership at end of period | 39.92% | 39.92% |
Hyungje art printing | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 31.54% | |
Ownership at end of period | 31.54% | 31.54% |
SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 23.33% | |
Ownership at end of period | 23.33% | 23.33% |
Shinhan-Rhinos 1 Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 22.48% | 0.00% |
Pacific Private Investment Trust No.20 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 21.74% | 0.00% |
Susung Mezzanine project P1 Private Investment Trust | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 41.18% | 0.00% |
Korea Finance Security | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 30, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 14.91% | 0.00% |
MIEL CO.,LTD | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 28.77% | 0.00% |
AIP Transportation Specialized Privately Placed Fund Trust #1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 35.73% | 0.00% |
Lime Neptune Professional Private 6 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 50.00% | 0.00% |
PCC S/W 2nd Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 29.56% | 0.00% |
E&Healthcare Investment Fund No.6 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 20.37% | 0.00% |
One Shinhan Global Fund 1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 19.98% | 0.00% |
Kiwoom-Shinhan Innovation Fund I | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 50.00% | 0.00% |
Daishin-K&T New Technology Investment Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 31.25% | 0.00% |
Midas Asset Global CRE Debt Private Fund No.6 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 20.05% | 0.00% |
Richmond Private Investment Trust No.82 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 60.00% | 0.00% |
Tiger Alternative Real Estate Professional Private5 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 48.71% | 0.00% |
Samchully Midstream Private Placement Special Asset Fund 5-4 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 42.92% | 0.00% |
SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 20.00% | 0.00% |
AUCTUS FITRIN Corporate Recovery Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 21.43% | 0.00% |
NH-Amundi Global Infrastructure Trust 14 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 30.00% | 0.00% |
Pacific Private Real Estate Fund Investment Trust No.30 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 37.50% | 0.00% |
Jarvis Memorial Private Investment Trust 1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 99.01% | 0.00% |
Mastern Private Investment Trust 68 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 53.76% | 0.00% |
Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 60.00% | 0.00% |
Milestone Private Real Estate Fund 3 (Derivative Type) | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 32.06% | 0.00% |
IGIS Private Real Estate Investment Trust 286 (2 class) | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 41.56% | 0.00% |
Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 31.31% | 0.00% |
Lime Pricing Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 25.85% | 0.00% |
SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 21.27% | 0.00% |
DS Solid.II Hedge Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 27.41% | 0.00% |
Hana Semiconductor New Technology Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 24.30% | 0.00% |
J&Magnet Startup Venture Specialized Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 30, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 24.39% | 0.00% |
Cape IT Fund No.3 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 32.89% | 0.00% |
Vogo Realty Partners Private Real Estate Fund V | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 21.64% | 0.00% |
IL GU FARM CO.,LTD | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 28.47% | 0.00% |
Korea Credit Bureau | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Sep. 3, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 9.00% | 0.00% |
SBC PFV Co., Ltd | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 25.00% | 0.00% |
Sprott Global Renewable Private Equity Fund II | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 23.10% | 0.00% |
NH-amundi global infra private fund 16 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 50.00% | 0.00% |
IMM Global Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 31.85% | 0.00% |
HANA Alternative Estate Professional Private122 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 75.19% | 0.00% |
Hanwha-Incus Plus New Technology Fund No.1 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 42.64% | 0.00% |
SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 45.96% | 0.00% |
SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 57.50% | 0.00% |
PSA EMP Private Equity Fund | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 28.99% | 0.00% |
Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 52.28% | 0.00% |
SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 25.70% | 0.00% |
SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 25.42% | 0.00% |
BRAIN DO PROFESSIONALE PRIVATE No. 27 | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 29.13% | 0.00% |
VISION US Muni US Local Debt Opportunities Professional Private1(S) | ||
Investments in associates [Line Items] | ||
Country | Korea | |
Reporting date | Dec. 31, 2019 | |
Ownership at beginning of period | 0.00% | |
Ownership at end of period | 25.00% | 0.00% |
Changes in investments in assoc
Changes in investments in associates (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | ₩ 671,330 | ₩ 631,294 | |
Investment and Dividend | 724,902 | 17,617 | |
Equity method income (loss) | 53,287 | 17,488 | ₩ 20,393 |
Change in other comprehensive income (loss) | 3,342 | 10,780 | |
Impairment loss | 0 | (5,849) | ₩ (144) |
Investments in associates | 1,452,861 | 671,330 | |
Associates | |||
Changes in investments in associates [Line Items] | |||
Investments in associates | 1,452,861 | 671,330 | |
BNP Paribas Cardif Life Insurance | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 49,816 | 52,616 | |
Investment and Dividend | (373) | (2,043) | |
Equity method income (loss) | (517) | 783 | |
Change in other comprehensive income (loss) | 3,660 | (1,540) | |
Impairment loss | 0 | 0 | |
Investments in associates | 52,586 | 49,816 | |
Daewontos Co., Ltd. | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
Songrim Partners | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 48 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 0 | (48) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
Neoplux Technology Valuation Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 18,738 | 13,470 | |
Investment and Dividend | (1,661) | 6,000 | |
Equity method income (loss) | (693) | (242) | |
Change in other comprehensive income (loss) | 0 | (490) | |
Impairment loss | 0 | 0 | |
Investments in associates | 16,384 | 18,738 | |
JAEYOUNG SOLUTEC CO., LTD. | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 3,849 | |
Investment and Dividend | 0 | (2,865) | |
Equity method income (loss) | 0 | (836) | |
Change in other comprehensive income (loss) | 0 | (148) | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
Partners 4th Growth Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 16,612 | 13,390 | |
Investment and Dividend | (1,219) | 2,597 | |
Equity method income (loss) | (476) | 625 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 14,917 | 16,612 | |
JAEYANG INDUSTRY | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
KTB Newlake Global Healthcare PEF | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 9,885 | 2,653 | |
Investment and Dividend | 1,500 | 7,470 | |
Equity method income (loss) | (105) | (238) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 11,280 | 9,885 | |
DAEKWANG SEMICONDUCTOR CO., LTD. | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,334 | 3,824 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 52 | (490) | |
Change in other comprehensive income (loss) | 2 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,388 | 3,334 | |
Shinhan-Neoplux Energy Newbiz Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,974 | 1,400 | |
Investment and Dividend | 4,200 | 2,800 | |
Equity method income (loss) | (294) | (226) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 7,880 | 3,974 | |
Shinhan-Albatross Tech Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 8,908 | 2,672 | |
Investment and Dividend | 0 | 6,000 | |
Equity method income (loss) | 132 | (70) | |
Change in other comprehensive income (loss) | (306) | 306 | |
Impairment loss | 0 | 0 | |
Investments in associates | 8,734 | 8,908 | |
Asia Pacific No.39 Ship Investment Co., Ltd. | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 4,682 | |
Investment and Dividend | 0 | (4,803) | |
Equity method income (loss) | 0 | 121 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
KCLAVIS Meister Fund No.17 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,083 | 3,039 | |
Investment and Dividend | (1,801) | 0 | |
Equity method income (loss) | (84) | 44 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 1,198 | 3,083 | |
SG No.9 Corporate Recovery Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 3,963 | |
Investment and Dividend | 0 | (3,102) | |
Equity method income (loss) | 0 | 566 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 1,427 | |
Plutus-SG Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,252 | 4,251 | |
Investment and Dividend | (132) | (132) | |
Equity method income (loss) | 111 | 133 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,231 | 4,252 | |
SG ARGES Private Equity Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,341 | 6,422 | |
Investment and Dividend | (4,796) | (2,295) | |
Equity method income (loss) | 455 | 214 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 4,341 | |
OST Progress- 2 Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 4,895 | |
Investment and Dividend | 0 | (4,895) | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Eum Private Equity Fund No.3 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,889 | 4,925 | |
Investment and Dividend | (2,476) | (277) | |
Equity method income (loss) | 1,161 | 241 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,574 | 4,889 | |
Richmond Private Yong in Retail Facility Real Estate Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 8,101 | |
Investment and Dividend | 0 | (10,286) | |
Equity method income (loss) | 0 | 2,185 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
KTB Confidence Private Placement | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 5,302 | 6,403 | |
Investment and Dividend | (215) | (389) | |
Equity method income (loss) | 980 | 387 | |
Change in other comprehensive income (loss) | 0 | (1,099) | |
Impairment loss | 0 | 0 | |
Investments in associates | 6,067 | 5,302 | |
Meritz AI-SingA330-A Investment Type Private Placement Special Asset Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 5,432 | 6,757 | |
Investment and Dividend | (1,266) | (1,518) | |
Equity method income (loss) | 90 | 193 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,256 | 5,432 | |
Meritz AI-SingA330-B Investment Type Private Placement Special Asset Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 8,429 | 8,387 | |
Investment and Dividend | 242 | (305) | |
Equity method income (loss) | 245 | 347 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 8,916 | 8,429 | |
Pine Asia Unsecured Individual Rehabilitation Bond Fund 18 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 6,012 | |
Investment and Dividend | 0 | (6,035) | |
Equity method income (loss) | 0 | 23 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
VOGO DEBT STRATEGY QUALIFIED INV PRIVATE R/E INV TR 4 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,831 | 1,638 | |
Investment and Dividend | 4,820 | 3,060 | |
Equity method income (loss) | 279 | 133 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 9,930 | 4,831 | |
Platform Partners brick save Private Investment trust | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 8,120 | 8,069 | |
Investment and Dividend | (8,197) | (496) | |
Equity method income (loss) | 77 | 547 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 8,120 | |
Shinhan-Midas Donga Secondary Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 2,061 | 0 | |
Investment and Dividend | 1,750 | 0 | |
Equity method income (loss) | (325) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,486 | 0 | |
ShinHan - Soo Young Entrepreneur Investment Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 2,554 | 0 | |
Investment and Dividend | 1,968 | 0 | |
Equity method income (loss) | 27 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,549 | 0 | |
Synergy-Shinhan Mezzanine New Technology Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 10,149 | 4,999 | |
Investment and Dividend | (6,492) | 5,000 | |
Equity method income (loss) | 255 | 150 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,912 | 10,149 | |
The Asia Pacific Capital Fund II L.P. | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 7,307 | |
Investment and Dividend | 0 | (3,004) | |
Equity method income (loss) | 0 | (656) | |
Change in other comprehensive income (loss) | 0 | 2,602 | |
Impairment loss | 0 | (5,849) | |
Investments in associates | 0 | 400 | |
Shinhan Praxis K-Growth Global Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 16,527 | 18,954 | |
Investment and Dividend | (8,745) | (7,473) | |
Equity method income (loss) | 2,520 | 5,046 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,302 | 16,527 | |
Credian Healthcare Private Equity Fund II | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,553 | 3,813 | |
Investment and Dividend | (2,526) | 0 | |
Equity method income (loss) | 350 | 740 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 2,377 | 4,553 | |
Kiwoom Milestone Professional Private Real Estate Trust 19 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 10,419 | 10,408 | |
Investment and Dividend | (241) | (199) | |
Equity method income (loss) | 229 | 210 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,407 | 10,419 | |
AIP EUROGREEN Private Real Estate Investment Trust No.3 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 20,544 | 20,460 | |
Investment and Dividend | (1,248) | (1,253) | |
Equity method income (loss) | 1,588 | 1,337 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 20,884 | 20,544 | |
Brain Professional Private Trust No.4 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 5,244 | 5,847 | |
Investment and Dividend | (5,175) | (1,274) | |
Equity method income (loss) | (69) | 671 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 5,244 | |
Hanhwa US Equity Strategy Private Real Estate Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 26,232 | 25,479 | |
Investment and Dividend | (1,866) | (2,000) | |
Equity method income (loss) | 1,598 | 2,753 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 25,964 | 26,232 | |
Brain KS Qualified Privately Placed Fund No.6 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 5,097 | 4,805 | |
Investment and Dividend | (5,041) | 0 | |
Equity method income (loss) | (56) | 292 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 5,097 | |
M360 CRE Income Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 153,905 | |
Investment and Dividend | 0 | (171,215) | |
Equity method income (loss) | 0 | 6,183 | |
Change in other comprehensive income (loss) | 0 | 11,127 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
Shinhan Global Healthcare Fund 1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,285 | 3,407 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | (76) | (122) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,209 | 3,285 | |
JB Power TL Investment Type Private Placement Special Asset Fund 7 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 17,484 | 18,690 | |
Investment and Dividend | (1,513) | (2,075) | |
Equity method income (loss) | 829 | 869 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 16,800 | 17,484 | |
IBK AONE convertible 1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 5,906 | 5,122 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 171 | 784 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 6,077 | 5,906 | |
Rico synergy collabo Multi-Mezzanine 3 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 5,290 | 5,026 | |
Investment and Dividend | (2,501) | 0 | |
Equity method income (loss) | 428 | 264 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,217 | 5,290 | |
KB NA Hickory Private Special Asset Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 34,360 | 34,091 | |
Investment and Dividend | 445 | (1,560) | |
Equity method income (loss) | 1,125 | 1,829 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 35,930 | 34,360 | |
GB Professional Private Investment Trust 6 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 8,588 | 8,600 | |
Investment and Dividend | (8,588) | 0 | |
Equity method income (loss) | 0 | (12) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 8,588 | |
Koramco Europe Core Private Placement Real Estate Fund No.2-2 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 18,616 | 20,760 | |
Investment and Dividend | (1,458) | (2,357) | |
Equity method income (loss) | 2,404 | 213 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 19,562 | 18,616 | |
SHBNPP Private Korea Equity Long-Short Professional Feeder | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 14,370 | 4,861 | |
Investment and Dividend | (14,325) | 9,412 | |
Equity method income (loss) | (45) | 97 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 14,370 | |
Shinhan-Stonebridge Petro PEF | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 18,681 | 19,201 | |
Investment and Dividend | (19,589) | (1,133) | |
Equity method income (loss) | 909 | 613 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 1 | 18,681 | |
BNP Paribas Cardif General Insurance | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,423 | 4,429 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | (1,296) | (1,026) | |
Change in other comprehensive income (loss) | (14) | 20 | |
Impairment loss | 0 | 0 | |
Investments in associates | 2,113 | 3,423 | |
Axis Global Growth New Technology Investment Association | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,875 | 4,953 | |
Investment and Dividend | (1,592) | 0 | |
Equity method income (loss) | (78) | (78) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,205 | 4,875 | |
Polaris No7 Start up and Venture Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,338 | 4,359 | |
Investment and Dividend | (2,300) | 0 | |
Equity method income (loss) | 265 | (21) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 2,303 | 4,338 | |
Hermes Private Investment Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 7,065 | 17,497 | |
Investment and Dividend | 0 | (5,158) | |
Equity method income (loss) | (689) | (5,274) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 6,376 | 7,065 | |
SHC ULMUS Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 2,890 | 0 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 259 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,149 | 0 | |
Shinhan-Nvestor Liquidity Solution Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 2,689 | 0 | |
Investment and Dividend | 2,700 | 0 | |
Equity method income (loss) | (524) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,865 | 0 | |
Shinhan AIM FoF Fund 1a | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,351 | 0 | |
Investment and Dividend | 2,363 | 4,125 | |
Equity method income (loss) | 528 | 226 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 7,242 | 4,351 | |
Daishin Heim Qualified Investor Private Investment Trust No.1808 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 10,126 | 0 | |
Investment and Dividend | (10,297) | 9,786 | |
Equity method income (loss) | 171 | 340 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 10,126 | |
Heungkuk High Class Professional Trust Private Fund 37 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 9,438 | 0 | |
Investment and Dividend | (9,505) | 9,178 | |
Equity method income (loss) | 67 | 260 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 9,438 | |
IGIS Global Credit Fund 150-1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 8,896 | 0 | |
Investment and Dividend | 781 | 8,529 | |
Equity method income (loss) | 41 | 367 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 9,718 | 8,896 | |
GX SHINHAN INTERVEST 1st Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 31,831 | 0 | |
Investment and Dividend | 0 | 34,900 | |
Equity method income (loss) | 1,335 | (3,069) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 33,166 | 31,831 | |
Soo Commerce Platform Growth Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 6,378 | 0 | |
Investment and Dividend | 0 | 6,500 | |
Equity method income (loss) | (35) | (122) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 6,343 | 6,378 | |
Partner One Value up I Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 11,939 | 0 | |
Investment and Dividend | 0 | 12,000 | |
Equity method income (loss) | (48) | (61) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 11,891 | 11,939 | |
Genesis No.1 Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 45,758 | 0 | |
Investment and Dividend | 404 | 46,068 | |
Equity method income (loss) | 4,988 | (310) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 51,150 | 45,758 | |
GMB ICT New Technology Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 7,934 | 0 | |
Investment and Dividend | 0 | 8,000 | |
Equity method income (loss) | (80) | (66) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 7,854 | 7,934 | |
Korea Omega Project Fund III | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 1,992 | 0 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 1,024 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,016 | 0 | |
Soo Delivery Platform Growth Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 8,983 | 0 | |
Investment and Dividend | (171) | 9,000 | |
Equity method income (loss) | 110 | (17) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 8,922 | 8,983 | |
Genesis North America Power Company No.1 PEF | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 20,824 | 0 | |
Investment and Dividend | (4,035) | 21,592 | |
Equity method income (loss) | 1,486 | (768) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 18,275 | 20,824 | |
Hyungje art printing | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 6,204 | 0 | |
Investment and Dividend | 14,147 | 6,300 | |
Equity method income (loss) | 361 | (96) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 20,712 | 6,204 | |
Shinhan-Rhinos 1 Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 3,000 | ||
Equity method income (loss) | 29 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 3,029 | 0 | |
Pacific Private Investment Trust No.20 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 3,819 | ||
Equity method income (loss) | 257 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 4,076 | 0 | |
Susung Mezzanine project P1 Private Investment Trust | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 4,000 | ||
Equity method income (loss) | 1,128 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 5,128 | 0 | |
Korea Finance Security | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 3,448 | ||
Equity method income (loss) | (213) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 3,235 | 0 | |
MIEL CO.,LTD | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 0 | ||
Equity method income (loss) | 0 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 0 | 0 | |
AIP Transportation Specialized Privately Placed Fund Trust #1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 31,136 | ||
Equity method income (loss) | 444 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 31,580 | 0 | |
Lime Neptune Professional Private 6 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 5,000 | ||
Equity method income (loss) | 63 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 5,063 | 0 | |
PCC S/W 2nd Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 3,000 | ||
Equity method income (loss) | 1 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 3,001 | 0 | |
E&Healthcare Investment Fund No.6 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 7,030 | ||
Equity method income (loss) | 746 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 7,776 | 0 | |
One Shinhan Global Fund 1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 4,520 | ||
Equity method income (loss) | (79) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 4,441 | 0 | |
Kiwoom-Shinhan Innovation Fund I | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 7,500 | ||
Equity method income (loss) | (216) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 7,284 | 0 | |
Daishin-K&T New Technology Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 7,000 | ||
Equity method income (loss) | 57 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 7,057 | 0 | |
Midas Asset Global CRE Debt Private Fund No.6 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 23,194 | ||
Equity method income (loss) | 537 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 23,731 | 0 | |
Richmond Private Investment Trust No.82 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 14,569 | ||
Equity method income (loss) | 551 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 15,120 | 0 | |
Tiger Alternative Real Estate Professional Private5 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 19,876 | ||
Equity method income (loss) | (56) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 19,820 | 0 | |
Samchully Midstream Private Placement Special Asset Fund 5-4 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 29,436 | ||
Equity method income (loss) | 1,306 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 30,742 | 0 | |
SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 52,048 | ||
Equity method income (loss) | 1,783 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 53,831 | 0 | |
AUCTUS FITRIN Corporate Recovery Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 14,250 | ||
Equity method income (loss) | 108 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 14,358 | 0 | |
NH-Amundi Global Infrastructure Trust 14 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 17,769 | ||
Equity method income (loss) | 728 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 18,497 | 0 | |
Pacific Private Real Estate Fund Investment Trust No.30 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 14,236 | ||
Equity method income (loss) | 580 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 14,816 | 0 | |
Jarvis Memorial Private Investment Trust 1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 9,888 | ||
Equity method income (loss) | 278 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 10,166 | 0 | |
Mastern Private Investment Trust 68 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 9,764 | ||
Equity method income (loss) | 235 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 9,999 | 0 | |
Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 4,434 | ||
Equity method income (loss) | (37) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 4,397 | 0 | |
Milestone Private Real Estate Fund 3 (Derivative Type) | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 17,016 | ||
Equity method income (loss) | 170 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 17,186 | 0 | |
IGIS Private Real Estate Investment Trust 286 (2 class) | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 10,100 | ||
Equity method income (loss) | (332) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 9,768 | 0 | |
Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 9,018 | ||
Equity method income (loss) | (104) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 8,914 | 0 | |
Lime Pricing Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 8,400 | ||
Equity method income (loss) | (100) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 8,300 | 0 | |
SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 39,376 | ||
Equity method income (loss) | 2,615 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 41,991 | 0 | |
DS Solid.II Hedge Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 4,300 | ||
Equity method income (loss) | (177) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 4,123 | 0 | |
Hana Semiconductor New Technology Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 13,000 | ||
Equity method income (loss) | (144) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 12,856 | 0 | |
J&Magnet Startup Venture Specialized Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 6,000 | ||
Equity method income (loss) | (21) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 5,979 | 0 | |
Cape IT Fund No.3 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 10,000 | ||
Equity method income (loss) | (33) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 9,967 | 0 | |
Vogo Realty Partners Private Real Estate Fund V | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 10,611 | ||
Equity method income (loss) | (235) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 10,376 | 0 | |
IL GU FARM CO.,LTD | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 0 | ||
Equity method income (loss) | 0 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 0 | 0 | |
Korea Credit Bureau | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 4,500 | ||
Equity method income (loss) | 2,312 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 6,812 | 0 | |
SBC PFV Co., Ltd | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 20,000 | ||
Equity method income (loss) | 0 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 20,000 | 0 | |
Sprott Global Renewable Private Equity Fund II | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 20,131 | ||
Equity method income (loss) | (1,115) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 19,016 | 0 | |
NH-amundi global infra private fund 16 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 49,530 | ||
Equity method income (loss) | (1,372) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 48,158 | 0 | |
IMM Global Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 28,945 | ||
Equity method income (loss) | (20) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 28,925 | 0 | |
HANA Alternative Estate Professional Private122 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 28,487 | ||
Equity method income (loss) | (2,282) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 26,205 | 0 | |
Hanwha-Incus Plus New Technology Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 5,500 | ||
Equity method income (loss) | (1) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 5,499 | 0 | |
SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 51,293 | ||
Equity method income (loss) | 0 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 51,293 | 0 | |
SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 146,045 | ||
Equity method income (loss) | 4,272 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 150,317 | 0 | |
PSA EMP Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 10,000 | ||
Equity method income (loss) | (73) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 9,927 | 0 | |
Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 28,314 | ||
Equity method income (loss) | 1,149 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 29,463 | 0 | |
SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 5,727 | ||
Equity method income (loss) | 0 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 5,727 | 0 | |
SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 5,729 | ||
Equity method income (loss) | 0 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 5,729 | 0 | |
BRAIN DO PROFESSIONALE PRIVATE No. 27 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 3,000 | ||
Equity method income (loss) | 65 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 3,065 | 0 | |
VISION US Muni US Local Debt Opportunities Professional Private1(S) | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | ||
Investment and Dividend | 9,500 | ||
Equity method income (loss) | 369 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 9,869 | 0 | |
Others | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 52,855 | ||
Investment and Dividend | 37,442 | ||
Equity method income (loss) | 1,550 | ||
Change in other comprehensive income (loss) | 2 | ||
Impairment loss | 0 | ||
Investments in associates | ₩ 91,849 | ||
Others | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 81,490 | ||
Investment and Dividend | (14,513) | ||
Equity method income (loss) | 18,954 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | ₩ 85,931 |
Condensed statement of financia
Condensed statement of financial position and comprehensive income information of associates (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | ₩ 552,419,581 | ₩ 459,600,510 | |
Liabilities | 510,489,200 | 422,949,080 | |
Net profit (loss) | 3,642,384 | 3,198,265 | ₩ 2,949,205 |
Other comprehensive income | 565,910 | 51,292 | (429,114) |
Total comprehensive income | 4,208,294 | 3,249,557 | ₩ 2,520,091 |
Associates | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 8,662,468 | 6,933,438 | |
Liabilities | 4,048,306 | 3,767,893 | |
Operating revenue | 543,587 | 261,717 | |
Net profit (loss) | 155,224 | 29,021 | |
Other comprehensive income | 23,358 | (14,753) | |
Total comprehensive income | 178,582 | 14,268 | |
BNP Paribas Cardif Life Insurance | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 3,896,875 | 3,995,746 | |
Liabilities | 3,545,682 | 3,662,567 | |
Operating revenue | 37,067 | 53,756 | |
Net profit (loss) | (3,919) | 5,191 | |
Other comprehensive income | 24,402 | (10,268) | |
Total comprehensive income | 20,483 | (5,077) | |
Neoplux Technology Valuation Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 49,890 | 57,018 | |
Liabilities | 738 | 804 | |
Operating revenue | 3,953 | 390 | |
Net profit (loss) | (2,078) | (724) | |
Other comprehensive income | 0 | (1,969) | |
Total comprehensive income | (2,078) | (2,693) | |
Partners 4th Growth Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 60,775 | 67,403 | |
Liabilities | 1,106 | 954 | |
Operating revenue | 14 | 4,424 | |
Net profit (loss) | (1,904) | 3,025 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (1,904) | 3,025 | |
KTB Newlake Global Healthcare PEF | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 37,187 | 32,508 | |
Liabilities | 151 | 123 | |
Operating revenue | 387 | 69 | |
Net profit (loss) | (349) | (793) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (349) | (793) | |
DAEKWANG SEMICONDUCTOR CO., LTD. | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 23,507 | 25,459 | |
Liabilities | 7,328 | 9,537 | |
Operating revenue | 1,248 | 15,794 | |
Net profit (loss) | 248 | (2,341) | |
Other comprehensive income | 9 | 0 | |
Total comprehensive income | 257 | (2,341) | |
Shinhan-Neoplux Energy Newbiz Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 33,791 | 17,347 | |
Liabilities | 18 | 315 | |
Operating revenue | 26 | 19 | |
Net profit (loss) | (1,259) | (968) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (1,259) | (968) | |
Shinhan-Albatross Tech Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 17,681 | 18,009 | |
Liabilities | 182 | 182 | |
Operating revenue | 1,263 | 299 | |
Net profit (loss) | 551 | (435) | |
Other comprehensive income | (917) | 917 | |
Total comprehensive income | (366) | 482 | |
KCLAVIS Meister Fund No.17 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 4,689 | 11,866 | |
Liabilities | 96 | 47 | |
Operating revenue | 425 | 398 | |
Net profit (loss) | (322) | 167 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (322) | 167 | |
SG No.9 Corporate Recovery Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 5,566 | |
Liabilities | 0 | 181 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | 0 | 2,136 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 2,136 | |
Plutus-SG Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 16,006 | 16,012 | |
Liabilities | 138 | 69 | |
Operating revenue | 700 | 778 | |
Net profit (loss) | 419 | 499 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 419 | 499 | |
SG ARGES Private Equity Fund No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 18,085 | |
Liabilities | 0 | 46 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | 0 | 888 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 888 | |
Eum Private Equity Fund No.3 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 17,243 | 23,552 | |
Liabilities | 27 | 5 | |
Operating revenue | 6,305 | 1,667 | |
Net profit (loss) | 5,604 | 1,311 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 5,604 | 1,311 | |
KTB Confidence Private Placement | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 19,369 | 38,559 | |
Liabilities | 64 | 21,054 | |
Operating revenue | 7,328 | 506 | |
Net profit (loss) | 3,122 | 256 | |
Other comprehensive income | 0 | (3,629) | |
Total comprehensive income | 3,122 | (3,373) | |
Meritz AI-SingA330-A Investment Type Private Placement Special Asset Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 17,821 | 22,739 | |
Liabilities | 1 | 1 | |
Operating revenue | 1,280 | 1,451 | |
Net profit (loss) | 377 | 62 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 377 | 62 | |
Meritz AI-SingA330-B Investment Type Private Placement Special Asset Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 44,228 | 41,809 | |
Liabilities | 2 | 2 | |
Operating revenue | 3,445 | 3,027 | |
Net profit (loss) | 1,217 | 1,044 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,217 | 1,044 | |
VOGO DEBT STRATEGY QUALIFIED INV PRIVATE R/E INV TR 4 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 49,683 | 24,174 | |
Liabilities | 33 | 15 | |
Operating revenue | 4,198 | 3,046 | |
Net profit (loss) | 1,391 | 1,165 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,391 | 1,165 | |
Platform Partners brick save Private Investment trust | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 8,286 | |
Liabilities | 0 | 64 | |
Operating revenue | 0 | 809 | |
Net profit (loss) | 0 | 763 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 763 | |
Shinhan-Midas Donga Secondary Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 6,973 | 0 | |
Liabilities | 1 | 0 | |
Operating revenue | 88 | 0 | |
Net profit (loss) | (651) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (651) | 0 | |
ShinHan - Soo Young Entrepreneur Investment Fund No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 18,963 | 0 | |
Liabilities | 9 | 0 | |
Operating revenue | 1,656 | 0 | |
Net profit (loss) | 113 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 113 | 0 | |
Synergy-Shinhan Mezzanine New Technology Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 8,266 | 21,312 | |
Liabilities | 51 | 0 | |
Operating revenue | 834 | 553 | |
Net profit (loss) | 535 | 331 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 535 | 331 | |
The Asia Pacific Capital Fund II L.P. | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 1,674 | |
Liabilities | 0 | 86 | |
Operating revenue | 0 | 1 | |
Net profit (loss) | 0 | (25,828) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | (25,828) | |
Shinhan Praxis K-Growth Global Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 54,786 | 87,897 | |
Liabilities | 185 | 307 | |
Operating revenue | 27,588 | 31,059 | |
Net profit (loss) | 13,361 | 26,381 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 13,361 | 26,381 | |
Credian Healthcare Private Equity Fund II | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 7,001 | 13,408 | |
Liabilities | 24 | 47 | |
Operating revenue | 1,542 | 2,364 | |
Net profit (loss) | 1,031 | 2,171 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,031 | 2,171 | |
Kiwoom Milestone Professional Private Real Estate Trust 19 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 59,559 | 57,678 | |
Liabilities | 38,744 | 36,839 | |
Operating revenue | 3,100 | 3,383 | |
Net profit (loss) | 470 | 422 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 470 | 422 | |
AIP EUROGREEN Private Real Estate Investment Trust No.3 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 98,221 | 96,624 | |
Liabilities | 86 | 86 | |
Operating revenue | 18,362 | 18,700 | |
Net profit (loss) | 7,462 | 6,287 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 7,462 | 6,287 | |
Brain Professional Private Trust No.4 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 19,113 | |
Liabilities | 0 | 46 | |
Operating revenue | 0 | 4,306 | |
Net profit (loss) | 0 | 2,435 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 2,435 | |
Hanhwa US Equity Strategy Private Real Estate Fund No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 59,652 | 58,575 | |
Liabilities | 1,750 | 77 | |
Operating revenue | 14,838 | 10,098 | |
Net profit (loss) | 3,742 | 6,139 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 3,742 | 6,139 | |
Brain KS Qualified Privately Placed Fund No.6 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 10,089 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 812 | |
Net profit (loss) | 0 | 477 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 477 | |
Shinhan Global Healthcare Fund 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 73,388 | 74,409 | |
Liabilities | 701 | 0 | |
Operating revenue | 5,480 | 4 | |
Net profit (loss) | (1,722) | (2,757) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (1,722) | (2,757) | |
JB Power TL Investment Type Private Placement Special Asset Fund 7 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 50,468 | 52,627 | |
Liabilities | 66 | 174 | |
Operating revenue | 15,476 | 9,878 | |
Net profit (loss) | 2,487 | 2,607 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,487 | 2,607 | |
IBK AONE convertible 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 12,861 | 12,807 | |
Liabilities | 0 | 307 | |
Operating revenue | 1,515 | 2,042 | |
Net profit (loss) | 410 | 1,660 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 410 | 1,660 | |
Rico synergy collabo Multi-Mezzanine 3 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 6,433 | 10,736 | |
Liabilities | 2 | 161 | |
Operating revenue | 1,296 | 686 | |
Net profit (loss) | 856 | 529 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 856 | 529 | |
KB NA Hickory Private Special Asset Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 96,289 | 91,694 | |
Liabilities | 476 | 67 | |
Operating revenue | 16,132 | 9,601 | |
Net profit (loss) | 2,489 | 4,877 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,489 | 4,877 | |
GB Professional Private Investment Trust 6 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 9,088 | |
Liabilities | 0 | 1 | |
Operating revenue | 0 | 1 | |
Net profit (loss) | 0 | (13) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | (13) | |
Koramco Europe Core Private Placement Real Estate Fund No.2-2 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 46,742 | 44,491 | |
Liabilities | 2,304 | 2,202 | |
Operating revenue | 9,328 | 6,470 | |
Net profit (loss) | 5,462 | 878 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 5,462 | 878 | |
SHBNPP Private Korea Equity Long-Short Professional Feeder | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 77,465 | |
Liabilities | 0 | 10,728 | |
Operating revenue | 0 | 18,729 | |
Net profit (loss) | 0 | 728 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 728 | |
Shinhan-Stonebridge Petro PEF | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 1,388 | 1,025,884 | |
Liabilities | 1,350 | 807 | |
Operating revenue | 52,928 | 36,968 | |
Net profit (loss) | 49,878 | 33,616 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 49,878 | 33,616 | |
BNP Paribas Cardif General Insurance | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 43,064 | 51,211 | |
Liabilities | 21,936 | 16,986 | |
Operating revenue | 17,613 | 10,972 | |
Net profit (loss) | (12,962) | (10,264) | |
Other comprehensive income | (136) | 196 | |
Total comprehensive income | (13,098) | (10,068) | |
Axis Global Growth New Technology Investment Association | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 10,064 | 15,308 | |
Liabilities | 0 | 0 | |
Operating revenue | 1 | 1 | |
Net profit (loss) | (244) | (245) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (244) | (245) | |
Polaris No7 Start up and Venture Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 8,113 | 15,193 | |
Liabilities | 52 | 10 | |
Operating revenue | 1,037 | 0 | |
Net profit (loss) | 928 | (75) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 928 | (75) | |
Hermes Private Investment Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 21,954 | 24,233 | |
Liabilities | 95 | 8 | |
Operating revenue | 45 | 6 | |
Net profit (loss) | (2,366) | (18,025) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (2,366) | (18,025) | |
Shinhan AIM FoF Fund 1a | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 28,987 | 17,478 | |
Liabilities | 20 | 11 | |
Operating revenue | 5,556 | 3,004 | |
Net profit (loss) | 2,111 | 342 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,111 | 342 | |
Daishin Heim Qualified Investor Private Investment Trust No.1808 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 29,770 | |
Liabilities | 0 | 405 | |
Operating revenue | 0 | 806 | |
Net profit (loss) | 0 | 741 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 741 | |
Heungkuk High Class Professional Trust Private Fund 37 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 20,523 | |
Liabilities | 0 | 1,646 | |
Operating revenue | 0 | 1,045 | |
Net profit (loss) | 0 | 1,005 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 1,005 | |
SHC ULMUS Fund No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 10,706 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 1,073 | 0 | |
Net profit (loss) | 881 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 881 | 0 | |
Shinhan-Nvestor Liquidity Solution Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 19,524 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 209 | 0 | |
Net profit (loss) | (2,101) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (2,101) | 0 | |
IGIS Global Credit Fund 150-1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 38,912 | 35,453 | |
Liabilities | 38 | 27 | |
Operating revenue | 2,674 | 3,457 | |
Net profit (loss) | 166 | 214 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 166 | 214 | |
GX SHINHAN INTERVEST 1st Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 131,237 | 125,954 | |
Liabilities | 0 | 0 | |
Operating revenue | 6,689 | 6 | |
Net profit (loss) | 5,283 | (12,146) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 5,283 | (12,146) | |
Soo Commerce Platform Growth Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 25,765 | 25,905 | |
Liabilities | 3 | 3 | |
Operating revenue | 36 | 0 | |
Net profit (loss) | (140) | (497) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (140) | (497) | |
Partner One Value up I Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 42,602 | 42,776 | |
Liabilities | 0 | 0 | |
Operating revenue | 457 | 326 | |
Net profit (loss) | (173) | (224) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (173) | (224) | |
Genesis No.1 Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 224,322 | 201,103 | |
Liabilities | 7 | 434 | |
Operating revenue | 23,180 | 0 | |
Net profit (loss) | 21,872 | (1,360) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 21,872 | (1,360) | |
GMB ICT New Technology Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 29,359 | 29,657 | |
Liabilities | 0 | 0 | |
Operating revenue | 2 | 3 | |
Net profit (loss) | (298) | (242) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (298) | (242) | |
Korea Omega Project Fund III | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 12,818 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 4,432 | 0 | |
Net profit (loss) | 4,351 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 4,351 | 0 | |
Soo Delivery Platform Growth Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 29,743 | 29,946 | |
Liabilities | 3 | 2 | |
Operating revenue | 675 | 0 | |
Net profit (loss) | 367 | (56) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 367 | (56) | |
Genesis North America Power Company No.1 PEF | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 46,041 | 52,393 | |
Liabilities | 281 | 223 | |
Operating revenue | 4,323 | 1 | |
Net profit (loss) | 3,756 | (1,922) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 3,756 | (1,922) | |
SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 89,450 | 26,826 | |
Liabilities | 687 | 237 | |
Operating revenue | 4,262 | 2 | |
Net profit (loss) | 1,546 | (411) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,546 | (411) | |
Shinhan-Rhinos 1 Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 13,474 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 143 | 0 | |
Net profit (loss) | 129 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 129 | 0 | |
Pacific Private Investment Trust No.20 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 18,764 | 0 | |
Liabilities | 15 | 0 | |
Operating revenue | 1,247 | 0 | |
Net profit (loss) | 1,187 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,187 | 0 | |
Susung Mezzanine project P1 Private Investment Trust | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 10,023 | 0 | |
Liabilities | 351 | 0 | |
Operating revenue | 22 | 0 | |
Net profit (loss) | (91) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (91) | 0 | |
Korea Finance Security | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 32,079 | 0 | |
Liabilities | 10,386 | 0 | |
Operating revenue | 64,964 | 0 | |
Net profit (loss) | (1,297) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (1,297) | 0 | |
AIP Transportation Specialized Privately Placed Fund Trust #1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 94,437 | 0 | |
Liabilities | 6,042 | 0 | |
Operating revenue | 12,473 | 0 | |
Net profit (loss) | 1,242 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,242 | 0 | |
Lime Neptune Professional Private 6 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 10,166 | 0 | |
Liabilities | 41 | 0 | |
Operating revenue | 460 | 0 | |
Net profit (loss) | 125 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 125 | 0 | |
PCC S/W 2nd Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 10,154 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 151 | 0 | |
Net profit (loss) | 4 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 4 | 0 | |
E&Healthcare Investment Fund No.6 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 38,181 | 0 | |
Liabilities | 2 | 0 | |
Operating revenue | 4,405 | 0 | |
Net profit (loss) | 3,664 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 3,664 | 0 | |
One Shinhan Global Fund 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 22,244 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 92 | 0 | |
Net profit (loss) | (406) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (406) | 0 | |
Kiwoom-Shinhan Innovation Fund I | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 14,719 | 0 | |
Liabilities | 151 | 0 | |
Operating revenue | 13 | 0 | |
Net profit (loss) | (432) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (432) | 0 | |
Daishin-K&T New Technology Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 55,686 | 0 | |
Liabilities | 33,103 | 0 | |
Operating revenue | 1,292 | 0 | |
Net profit (loss) | 183 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 183 | 0 | |
Midas Asset Global CRE Debt Private Fund No.6 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 118,438 | 0 | |
Liabilities | 70 | 0 | |
Operating revenue | 3,907 | 0 | |
Net profit (loss) | 2,677 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,677 | 0 | |
Richmond Private Investment Trust No.82 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 50,079 | 0 | |
Liabilities | 24,879 | 0 | |
Operating revenue | 1,155 | 0 | |
Net profit (loss) | 919 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 919 | 0 | |
Tiger Alternative Real Estate Professional Private5 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 40,792 | 0 | |
Liabilities | 103 | 0 | |
Operating revenue | 1,628 | 0 | |
Net profit (loss) | (116) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (116) | 0 | |
Samchully Midstream Private Placement Special Asset Fund 5-4 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 71,680 | 0 | |
Liabilities | 55 | 0 | |
Operating revenue | 14,423 | 0 | |
Net profit (loss) | 3,015 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 3,015 | 0 | |
SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 269,203 | 0 | |
Liabilities | 48 | 0 | |
Operating revenue | 8,854 | 0 | |
Net profit (loss) | 8,289 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 8,289 | 0 | |
AUCTUS FITRIN Corporate Recovery Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 67,222 | 0 | |
Liabilities | 218 | 0 | |
Operating revenue | 1,187 | 0 | |
Net profit (loss) | 449 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 449 | 0 | |
NH-Amundi Global Infrastructure Trust 14 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 61,696 | 0 | |
Liabilities | 39 | 0 | |
Operating revenue | 7,404 | 0 | |
Net profit (loss) | 2,427 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,427 | 0 | |
Pacific Private Real Estate Fund Investment Trust No.30 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 39,779 | 0 | |
Liabilities | 270 | 0 | |
Operating revenue | 1,817 | 0 | |
Net profit (loss) | 1,547 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,547 | 0 | |
Jarvis Memorial Private Investment Trust 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 10,279 | 0 | |
Liabilities | 12 | 0 | |
Operating revenue | 293 | 0 | |
Net profit (loss) | 281 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 281 | 0 | |
Mastern Private Investment Trust 68 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 18,600 | 0 | |
Liabilities | 2 | 0 | |
Operating revenue | 533 | 0 | |
Net profit (loss) | 437 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 437 | 0 | |
Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 7,336 | 0 | |
Liabilities | 7 | 0 | |
Operating revenue | 214 | 0 | |
Net profit (loss) | (61) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (61) | 0 | |
Milestone Private Real Estate Fund 3 (Derivative Type) | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 53,610 | 0 | |
Liabilities | 3 | 0 | |
Operating revenue | 603 | 0 | |
Net profit (loss) | 532 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 532 | 0 | |
IGIS Private Real Estate Investment Trust 286 (2 class) | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 75,372 | 0 | |
Liabilities | 51,870 | 0 | |
Operating revenue | 2,838 | 0 | |
Net profit (loss) | (798) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (798) | 0 | |
Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 99,976 | 0 | |
Liabilities | 71,507 | 0 | |
Operating revenue | 2,383 | 0 | |
Net profit (loss) | (331) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (331) | 0 | |
Lime Pricing Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 32,231 | 0 | |
Liabilities | 118 | 0 | |
Operating revenue | 10 | 0 | |
Net profit (loss) | (388) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (388) | 0 | |
SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 197,536 | 0 | |
Liabilities | 119 | 0 | |
Operating revenue | 12,963 | 0 | |
Net profit (loss) | 12,296 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 12,296 | 0 | |
DS Solid.II Hedge Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 15,042 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 4 | 0 | |
Net profit (loss) | (605) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (605) | 0 | |
Hana Semiconductor New Technology Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 52,905 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 73 | 0 | |
Net profit (loss) | (595) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (595) | 0 | |
J&Magnet Startup Venture Specialized Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 24,513 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (87) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (87) | 0 | |
Cape IT Fund No.3 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 30,333 | 0 | |
Liabilities | 35 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (101) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (101) | 0 | |
Vogo Realty Partners Private Real Estate Fund V | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 47,992 | 0 | |
Liabilities | 34 | 0 | |
Operating revenue | 281 | 0 | |
Net profit (loss) | (1,084) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (1,084) | 0 | |
Korea Credit Bureau | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 95,764 | 0 | |
Liabilities | 20,075 | 0 | |
Operating revenue | 66,314 | 0 | |
Net profit (loss) | 10,604 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 10,604 | 0 | |
SBC PFV Co., Ltd | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 120,000 | 0 | |
Liabilities | 40,000 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | 0 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 0 | |
Sprott Global Renewable Private Equity Fund II | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 82,721 | 0 | |
Liabilities | 3 | 0 | |
Operating revenue | 1,416 | 0 | |
Net profit (loss) | (4,833) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (4,833) | 0 | |
NH-amundi global infra private fund 16 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 100,513 | 0 | |
Liabilities | 4,197 | 0 | |
Operating revenue | 4,128 | 0 | |
Net profit (loss) | (2,744) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (2,744) | 0 | |
IMM Global Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 90,870 | 0 | |
Liabilities | 63 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (63) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (63) | 0 | |
HANA Alternative Estate Professional Private122 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 34,897 | 0 | |
Liabilities | 45 | 0 | |
Operating revenue | 1,561 | 0 | |
Net profit (loss) | (3,035) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (3,035) | 0 | |
Hanwha-Incus Plus New Technology Fund No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 12,900 | 0 | |
Liabilities | 1 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (1) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (1) | 0 | |
SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 127,339 | 0 | |
Liabilities | 15,732 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | 0 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 0 | |
SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 402,633 | 0 | |
Liabilities | 141,200 | 0 | |
Operating revenue | 10,036 | 0 | |
Net profit (loss) | 7,256 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 7,256 | 0 | |
PSA EMP Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 34,535 | 0 | |
Liabilities | 285 | 0 | |
Operating revenue | 1 | 0 | |
Net profit (loss) | (250) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (250) | 0 | |
Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 57,088 | 0 | |
Liabilities | 728 | 0 | |
Operating revenue | 2,735 | 0 | |
Net profit (loss) | 2,198 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,198 | 0 | |
SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 22,926 | 0 | |
Liabilities | 641 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | 0 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 0 | |
SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 23,865 | 0 | |
Liabilities | 1,329 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | 0 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 0 | |
BRAIN DO PROFESSIONALE PRIVATE No. 27 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 10,305 | 0 | |
Liabilities | 10 | 0 | |
Operating revenue | 58 | 0 | |
Net profit (loss) | (5) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (5) | 0 | |
VISION US Muni US Local Debt Opportunities Professional Private1(S) | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 39,175 | 0 | |
Liabilities | 80 | 0 | |
Operating revenue | 1,440 | 0 | |
Net profit (loss) | 1,088 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | ₩ 1,088 | ₩ 0 |
Reconciliation of the financial
Reconciliation of the financial information to the carrying value of its interests in the associates (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Investments in associates | ₩ 1,452,861 | ₩ 671,330 |
Associates | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | 4,951,196 | 3,476,038 |
Interests in the net assets (A*B) | 1,452,541 | 669,496 |
Intra-group transactions | (79) | (136) |
Other reconciliations | 399 | 1,970 |
Investments in associates | 1,452,861 | 671,330 |
BNP Paribas Cardif Life Insurance | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 351,193 | ₩ 333,179 |
Proportion of ownership interest in associate (B) | 14.99% | 14.99% |
Interests in the net assets (A*B) | ₩ 52,665 | ₩ 49,952 |
Intra-group transactions | (79) | (136) |
Other reconciliations | 0 | 0 |
Investments in associates | 52,586 | 49,816 |
Daewontos Co., Ltd. | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ (2,092) |
Proportion of ownership interest in associate (B) | 0.00% | 36.33% |
Interests in the net assets (A*B) | ₩ 0 | ₩ (760) |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 760 |
Investments in associates | 0 | 0 |
Songrim Partners | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ (62) | ₩ (23) |
Proportion of ownership interest in associate (B) | 35.34% | 35.34% |
Interests in the net assets (A*B) | ₩ (22) | ₩ (8) |
Intra-group transactions | 0 | 0 |
Other reconciliations | 22 | 8 |
Investments in associates | 0 | 0 |
Neoplux Technology Valuation Investment Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 49,152 | ₩ 56,214 |
Proportion of ownership interest in associate (B) | 33.33% | 33.33% |
Interests in the net assets (A*B) | ₩ 16,384 | ₩ 18,738 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 16,384 | 18,738 |
Partners 4th Growth Investment Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 59,669 | ₩ 66,449 |
Proportion of ownership interest in associate (B) | 25.00% | 25.00% |
Interests in the net assets (A*B) | ₩ 14,917 | ₩ 16,612 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 14,917 | 16,612 |
JAEYANG INDUSTRY | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ (2,571) |
Proportion of ownership interest in associate (B) | 0.00% | 25.90% |
Interests in the net assets (A*B) | ₩ 0 | ₩ (666) |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 666 |
Investments in associates | 0 | 0 |
KTB Newlake Global Healthcare PEF | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 37,036 | ₩ 32,385 |
Proportion of ownership interest in associate (B) | 30.00% | 30.00% |
Interests in the net assets (A*B) | ₩ 11,110 | ₩ 9,715 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 170 | 170 |
Investments in associates | 11,280 | 9,885 |
DAEKWANG SEMICONDUCTOR CO., LTD. | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 16,179 | ₩ 15,922 |
Proportion of ownership interest in associate (B) | 20.94% | 20.94% |
Interests in the net assets (A*B) | ₩ 3,388 | ₩ 3,334 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,388 | 3,334 |
Shinhan-Neoplux Energy Newbiz Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 33,773 | ₩ 17,032 |
Proportion of ownership interest in associate (B) | 23.33% | 23.33% |
Interests in the net assets (A*B) | ₩ 7,880 | ₩ 3,974 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 7,880 | 3,974 |
Shinhan-Albatross Tech Investment Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 17,499 | ₩ 17,827 |
Proportion of ownership interest in associate (B) | 50.00% | 50.00% |
Interests in the net assets (A*B) | ₩ 8,734 | ₩ 8,908 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 8,734 | 8,908 |
KCLAVIS Meister Fund No.17 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 4,593 | ₩ 11,819 |
Proportion of ownership interest in associate (B) | 26.09% | 26.09% |
Interests in the net assets (A*B) | ₩ 1,198 | ₩ 3,083 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 1,198 | 3,083 |
SG No.9 Corporate Recovery Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ 5,385 |
Proportion of ownership interest in associate (B) | 0.00% | 26.49% |
Interests in the net assets (A*B) | ₩ 0 | ₩ 1,427 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 0 | 1,427 |
Plutus-SG Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 15,868 | ₩ 15,943 |
Proportion of ownership interest in associate (B) | 26.67% | 26.67% |
Interests in the net assets (A*B) | ₩ 4,231 | ₩ 4,252 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 4,231 | 4,252 |
SG ARGES Private Equity Fund No.1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ 18,039 |
Proportion of ownership interest in associate (B) | 0.00% | 24.06% |
Interests in the net assets (A*B) | ₩ 0 | ₩ 4,341 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 0 | 4,341 |
Eum Private Equity Fund No.3 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 17,216 | ₩ 23,547 |
Proportion of ownership interest in associate (B) | 20.76% | 20.76% |
Interests in the net assets (A*B) | ₩ 3,574 | ₩ 4,889 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,574 | 4,889 |
KTB Confidence Private Placement | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 19,305 | ₩ 17,505 |
Proportion of ownership interest in associate (B) | 31.43% | 30.29% |
Interests in the net assets (A*B) | ₩ 6,067 | ₩ 5,302 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 6,067 | 5,302 |
Meritz AI-SingA330-A Investment Type Private Placement Special Asset Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 17,820 | ₩ 22,738 |
Proportion of ownership interest in associate (B) | 23.89% | 23.89% |
Interests in the net assets (A*B) | ₩ 4,256 | ₩ 5,432 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 4,256 | 5,432 |
Meritz AI-SingA330-B Investment Type Private Placement Special Asset Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 44,226 | ₩ 41,807 |
Proportion of ownership interest in associate (B) | 20.16% | 20.16% |
Interests in the net assets (A*B) | ₩ 8,916 | ₩ 8,429 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 8,916 | 8,429 |
VOGO DEBT STRATEGY QUALIFIED INV PRIVATE R/E INV TR 4 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 49,650 | ₩ 24,159 |
Proportion of ownership interest in associate (B) | 20.00% | 20.00% |
Interests in the net assets (A*B) | ₩ 9,930 | ₩ 4,831 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 9,930 | 4,831 |
Platform Partners brick save Private Investment trust | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ 8,222 |
Proportion of ownership interest in associate (B) | 0.00% | 98.77% |
Interests in the net assets (A*B) | ₩ 0 | ₩ 8,120 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 0 | 8,120 |
Shinhan-Midas Donga Secondary Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 6,972 | ₩ 0 |
Proportion of ownership interest in associate (B) | 50.00% | 50.00% |
Interests in the net assets (A*B) | ₩ 3,486 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,486 | 0 |
ShinHan - Soo Young Entrepreneur Investment Fund No.1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 18,954 | ₩ 0 |
Proportion of ownership interest in associate (B) | 24.00% | 24.00% |
Interests in the net assets (A*B) | ₩ 4,549 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 4,549 | 0 |
Synergy-Shinhan Mezzanine New Technology Investment Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 8,215 | ₩ 21,312 |
Proportion of ownership interest in associate (B) | 47.62% | 47.62% |
Interests in the net assets (A*B) | ₩ 3,912 | ₩ 10,149 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,912 | 10,149 |
The Asia Pacific Capital Fund II L.P. | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ 1,588 |
Proportion of ownership interest in associate (B) | 0.00% | 25.18% |
Interests in the net assets (A*B) | ₩ 0 | ₩ 400 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 0 | 400 |
Shinhan Praxis K-Growth Global Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 54,601 | ₩ 87,590 |
Proportion of ownership interest in associate (B) | 18.87% | 18.87% |
Interests in the net assets (A*B) | ₩ 10,302 | ₩ 16,527 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 10,302 | 16,527 |
Credian Healthcare Private Equity Fund II | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 6,977 | ₩ 13,361 |
Proportion of ownership interest in associate (B) | 34.07% | 34.07% |
Interests in the net assets (A*B) | ₩ 2,377 | ₩ 4,553 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 2,377 | 4,553 |
Kiwoom Milestone Professional Private Real Estate Trust 19 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 20,816 | ₩ 20,839 |
Proportion of ownership interest in associate (B) | 50.00% | 50.00% |
Interests in the net assets (A*B) | ₩ 10,407 | ₩ 10,419 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 10,407 | 10,419 |
AIP EUROGREEN Private Real Estate Investment Trust No.3 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 98,135 | ₩ 96,538 |
Proportion of ownership interest in associate (B) | 21.28% | 21.28% |
Interests in the net assets (A*B) | ₩ 20,884 | ₩ 20,544 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 20,884 | 20,544 |
Brain Professional Private Trust No.4 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ 19,067 |
Proportion of ownership interest in associate (B) | 0.00% | 27.50% |
Interests in the net assets (A*B) | ₩ 0 | ₩ 5,244 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 0 | 5,244 |
Hanhwa US Equity Strategy Private Real Estate Fund No.1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 57,901 | ₩ 58,498 |
Proportion of ownership interest in associate (B) | 44.84% | 44.84% |
Interests in the net assets (A*B) | ₩ 25,964 | ₩ 26,232 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 25,964 | 26,232 |
Brain KS Qualified Privately Placed Fund No.6 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ 10,089 |
Proportion of ownership interest in associate (B) | 0.00% | 50.00% |
Interests in the net assets (A*B) | ₩ 0 | ₩ 5,097 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 0 | 5,097 |
Shinhan Global Healthcare Fund 1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 72,687 | ₩ 74,409 |
Proportion of ownership interest in associate (B) | 4.41% | 4.41% |
Interests in the net assets (A*B) | ₩ 3,209 | ₩ 3,285 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,209 | 3,285 |
JB Power TL Investment Type Private Placement Special Asset Fund 7 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 50,402 | ₩ 52,453 |
Proportion of ownership interest in associate (B) | 33.33% | 33.33% |
Interests in the net assets (A*B) | ₩ 16,800 | ₩ 17,484 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 16,800 | 17,484 |
IBK AONE convertible 1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 12,861 | ₩ 12,500 |
Proportion of ownership interest in associate (B) | 47.25% | 47.25% |
Interests in the net assets (A*B) | ₩ 6,077 | ₩ 5,906 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 6,077 | 5,906 |
Rico synergy collabo Multi-Mezzanine 3 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 6,431 | ₩ 10,575 |
Proportion of ownership interest in associate (B) | 50.03% | 50.03% |
Interests in the net assets (A*B) | ₩ 3,217 | ₩ 5,290 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,217 | 5,290 |
KB NA Hickory Private Special Asset Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 95,813 | ₩ 91,627 |
Proportion of ownership interest in associate (B) | 37.50% | 37.50% |
Interests in the net assets (A*B) | ₩ 35,930 | ₩ 34,360 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 35,930 | 34,360 |
GB Professional Private Investment Trust 6 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ 9,087 |
Proportion of ownership interest in associate (B) | 0.00% | 94.51% |
Interests in the net assets (A*B) | ₩ 0 | ₩ 8,588 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 0 | 8,588 |
Koramco Europe Core Private Placement Real Estate Fund No.2-2 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 44,438 | ₩ 42,289 |
Proportion of ownership interest in associate (B) | 44.02% | 44.02% |
Interests in the net assets (A*B) | ₩ 19,562 | ₩ 18,616 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 19,562 | 18,616 |
SHBNPP Private Korea Equity Long-Short Professional Feeder | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ 66,737 |
Proportion of ownership interest in associate (B) | 0.00% | 21.52% |
Interests in the net assets (A*B) | ₩ 0 | ₩ 14,370 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 0 | 14,370 |
Shinhan-Stonebridge Petro PEF | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 38 | ₩ 1,025,077 |
Proportion of ownership interest in associate (B) | 1.82% | 1.82% |
Interests in the net assets (A*B) | ₩ 1 | ₩ 18,681 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 1 | 18,681 |
BNP Paribas Cardif General Insurance | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 21,128 | ₩ 34,225 |
Proportion of ownership interest in associate (B) | 10.00% | 10.00% |
Interests in the net assets (A*B) | ₩ 2,113 | ₩ 3,423 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 2,113 | 3,423 |
Axis Global Growth New Technology Investment Association | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 10,064 | ₩ 15,308 |
Proportion of ownership interest in associate (B) | 31.85% | 31.85% |
Interests in the net assets (A*B) | ₩ 3,205 | ₩ 4,875 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,205 | 4,875 |
Polaris No7 Start up and Venture Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 8,061 | ₩ 15,183 |
Proportion of ownership interest in associate (B) | 28.57% | 28.57% |
Interests in the net assets (A*B) | ₩ 2,303 | ₩ 4,338 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 2,303 | 4,338 |
Hermes Private Investment Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 21,859 | ₩ 24,225 |
Proportion of ownership interest in associate (B) | 29.17% | 29.17% |
Interests in the net assets (A*B) | ₩ 6,376 | ₩ 7,065 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 6,376 | 7,065 |
SHC ULMUS Fund No.1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 10,706 | ₩ 0 |
Proportion of ownership interest in associate (B) | 29.41% | 29.41% |
Interests in the net assets (A*B) | ₩ 3,149 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,149 | 0 |
Shinhan-Nvestor Liquidity Solution Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 19,524 | ₩ 0 |
Proportion of ownership interest in associate (B) | 24.92% | 24.92% |
Interests in the net assets (A*B) | ₩ 4,865 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 4,865 | 0 |
Shinhan AIM FoF Fund 1a | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 28,967 | ₩ 17,467 |
Proportion of ownership interest in associate (B) | 25.00% | 24.91% |
Interests in the net assets (A*B) | ₩ 7,242 | ₩ 4,351 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 7,242 | 4,351 |
Daishin Heim Qualified Investor Private Investment Trust No.1808 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ 29,365 |
Proportion of ownership interest in associate (B) | 0.00% | 34.48% |
Interests in the net assets (A*B) | ₩ 0 | ₩ 10,126 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 0 | 10,126 |
Heungkuk High Class Professional Trust Private Fund 37 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 0 | ₩ 18,877 |
Proportion of ownership interest in associate (B) | 0.00% | 50.00% |
Interests in the net assets (A*B) | ₩ 0 | ₩ 9,438 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 0 | 9,438 |
IGIS Global Credit Fund 150-1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 38,874 | ₩ 35,426 |
Proportion of ownership interest in associate (B) | 25.00% | 25.11% |
Interests in the net assets (A*B) | ₩ 9,718 | ₩ 8,896 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 9,718 | 8,896 |
GX SHINHAN INTERVEST 1st Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 131,237 | ₩ 125,954 |
Proportion of ownership interest in associate (B) | 25.27% | 25.27% |
Interests in the net assets (A*B) | ₩ 33,166 | ₩ 31,831 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 33,166 | 31,831 |
Soo Commerce Platform Growth Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 25,762 | ₩ 25,902 |
Proportion of ownership interest in associate (B) | 24.62% | 24.62% |
Interests in the net assets (A*B) | ₩ 6,343 | ₩ 6,378 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 6,343 | 6,378 |
Partner One Value up I Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 42,602 | ₩ 42,776 |
Proportion of ownership interest in associate (B) | 27.91% | 27.91% |
Interests in the net assets (A*B) | ₩ 11,891 | ₩ 11,939 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 11,891 | 11,939 |
Genesis No.1 Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 224,315 | ₩ 200,669 |
Proportion of ownership interest in associate (B) | 22.80% | 22.80% |
Interests in the net assets (A*B) | ₩ 51,150 | ₩ 45,758 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 51,150 | 45,758 |
GMB ICT New Technology Investment Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 29,359 | ₩ 29,657 |
Proportion of ownership interest in associate (B) | 26.75% | 26.75% |
Interests in the net assets (A*B) | ₩ 7,854 | ₩ 7,934 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 7,854 | 7,934 |
Korea Omega Project Fund III | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 12,818 | ₩ 0 |
Proportion of ownership interest in associate (B) | 23.53% | 23.53% |
Interests in the net assets (A*B) | ₩ 3,016 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,016 | 0 |
Soo Delivery Platform Growth Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 29,740 | ₩ 29,944 |
Proportion of ownership interest in associate (B) | 30.00% | 30.00% |
Interests in the net assets (A*B) | ₩ 8,922 | ₩ 8,983 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 8,922 | 8,983 |
Genesis North America Power Company No.1 PEF | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 45,759 | ₩ 52,170 |
Proportion of ownership interest in associate (B) | 39.92% | 39.92% |
Interests in the net assets (A*B) | ₩ 18,275 | ₩ 20,824 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 18,275 | 20,824 |
Hyungje art printing | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ (264) | ₩ 0 |
Proportion of ownership interest in associate (B) | 31.54% | 31.54% |
Interests in the net assets (A*B) | ₩ (83) | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 83 | 0 |
Investments in associates | 0 | 0 |
SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 88,763 | ₩ 26,589 |
Proportion of ownership interest in associate (B) | 23.33% | 23.33% |
Interests in the net assets (A*B) | ₩ 20,712 | ₩ 6,204 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 20,712 | 6,204 |
Shinhan-Rhinos 1 Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 13,474 | ₩ 0 |
Proportion of ownership interest in associate (B) | 22.48% | 0.00% |
Interests in the net assets (A*B) | ₩ 3,029 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,029 | 0 |
Pacific Private Investment Trust No.20 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 18,749 | ₩ 0 |
Proportion of ownership interest in associate (B) | 21.74% | 0.00% |
Interests in the net assets (A*B) | ₩ 4,076 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 4,076 | 0 |
Susung Mezzanine project P1 Private Investment Trust | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 9,672 | ₩ 0 |
Proportion of ownership interest in associate (B) | 41.18% | 0.00% |
Interests in the net assets (A*B) | ₩ 5,128 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 5,128 | 0 |
Korea Finance Security | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 21,693 | ₩ 0 |
Proportion of ownership interest in associate (B) | 14.91% | 0.00% |
Interests in the net assets (A*B) | ₩ 3,235 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,235 | 0 |
MIEL CO.,LTD | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ (119) | ₩ 0 |
Proportion of ownership interest in associate (B) | 28.77% | 0.00% |
Interests in the net assets (A*B) | ₩ (34) | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 34 | 0 |
Investments in associates | 0 | 0 |
AIP Transportation Specialized Privately Placed Fund Trust #1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 88,395 | ₩ 0 |
Proportion of ownership interest in associate (B) | 35.73% | 0.00% |
Interests in the net assets (A*B) | ₩ 31,580 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 31,580 | 0 |
Lime Neptune Professional Private 6 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 10,125 | ₩ 0 |
Proportion of ownership interest in associate (B) | 50.00% | 0.00% |
Interests in the net assets (A*B) | ₩ 5,063 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 5,063 | 0 |
PCC S/W 2nd Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 10,154 | ₩ 0 |
Proportion of ownership interest in associate (B) | 29.56% | 0.00% |
Interests in the net assets (A*B) | ₩ 3,001 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,001 | 0 |
E&Healthcare Investment Fund No.6 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 38,179 | ₩ 0 |
Proportion of ownership interest in associate (B) | 20.37% | 0.00% |
Interests in the net assets (A*B) | ₩ 7,776 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 7,776 | 0 |
One Shinhan Global Fund 1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 22,244 | ₩ 0 |
Proportion of ownership interest in associate (B) | 19.98% | 0.00% |
Interests in the net assets (A*B) | ₩ 4,441 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 4,441 | 0 |
Kiwoom-Shinhan Innovation Fund I | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 14,568 | ₩ 0 |
Proportion of ownership interest in associate (B) | 50.00% | 0.00% |
Interests in the net assets (A*B) | ₩ 7,284 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 7,284 | 0 |
Daishin-K&T New Technology Investment Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 22,583 | ₩ 0 |
Proportion of ownership interest in associate (B) | 31.25% | 0.00% |
Interests in the net assets (A*B) | ₩ 7,057 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 7,057 | 0 |
Midas Asset Global CRE Debt Private Fund No.6 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 118,368 | ₩ 0 |
Proportion of ownership interest in associate (B) | 20.05% | 0.00% |
Interests in the net assets (A*B) | ₩ 23,731 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 23,731 | 0 |
Richmond Private Investment Trust No.82 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 25,200 | ₩ 0 |
Proportion of ownership interest in associate (B) | 60.00% | 0.00% |
Interests in the net assets (A*B) | ₩ 15,120 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 15,120 | 0 |
Tiger Alternative Real Estate Professional Private5 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 40,689 | ₩ 0 |
Proportion of ownership interest in associate (B) | 48.71% | 0.00% |
Interests in the net assets (A*B) | ₩ 19,820 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 19,820 | 0 |
Samchully Midstream Private Placement Special Asset Fund 5-4 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 71,625 | ₩ 0 |
Proportion of ownership interest in associate (B) | 42.92% | 0.00% |
Interests in the net assets (A*B) | ₩ 30,742 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 30,742 | 0 |
SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 269,155 | ₩ 0 |
Proportion of ownership interest in associate (B) | 20.00% | 0.00% |
Interests in the net assets (A*B) | ₩ 53,831 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 53,831 | 0 |
AUCTUS FITRIN Corporate Recovery Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 67,004 | ₩ 0 |
Proportion of ownership interest in associate (B) | 21.43% | 0.00% |
Interests in the net assets (A*B) | ₩ 14,358 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 14,358 | 0 |
NH-Amundi Global Infrastructure Trust 14 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 61,657 | ₩ 0 |
Proportion of ownership interest in associate (B) | 30.00% | 0.00% |
Interests in the net assets (A*B) | ₩ 18,497 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 18,497 | 0 |
Pacific Private Real Estate Fund Investment Trust No.30 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 39,509 | ₩ 0 |
Proportion of ownership interest in associate (B) | 37.50% | 0.00% |
Interests in the net assets (A*B) | ₩ 14,816 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 14,816 | 0 |
Jarvis Memorial Private Investment Trust 1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 10,267 | ₩ 0 |
Proportion of ownership interest in associate (B) | 99.01% | 0.00% |
Interests in the net assets (A*B) | ₩ 10,166 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 10,166 | 0 |
Mastern Private Investment Trust 68 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 18,598 | ₩ 0 |
Proportion of ownership interest in associate (B) | 53.76% | 0.00% |
Interests in the net assets (A*B) | ₩ 9,999 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 9,999 | 0 |
Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 7,329 | ₩ 0 |
Proportion of ownership interest in associate (B) | 60.00% | 0.00% |
Interests in the net assets (A*B) | ₩ 4,397 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 4,397 | 0 |
Milestone Private Real Estate Fund 3 (Derivative Type) | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 53,608 | ₩ 0 |
Proportion of ownership interest in associate (B) | 32.06% | 0.00% |
Interests in the net assets (A*B) | ₩ 17,186 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 17,186 | 0 |
IGIS Private Real Estate Investment Trust 286 (2 class) | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 23,502 | ₩ 0 |
Proportion of ownership interest in associate (B) | 41.56% | 0.00% |
Interests in the net assets (A*B) | ₩ 9,768 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 9,768 | 0 |
Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 28,469 | ₩ 0 |
Proportion of ownership interest in associate (B) | 31.31% | 0.00% |
Interests in the net assets (A*B) | ₩ 8,914 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 8,914 | 0 |
Lime Pricing Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 32,113 | ₩ 0 |
Proportion of ownership interest in associate (B) | 25.85% | 0.00% |
Interests in the net assets (A*B) | ₩ 8,300 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 8,300 | 0 |
SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 197,417 | ₩ 0 |
Proportion of ownership interest in associate (B) | 21.27% | 0.00% |
Interests in the net assets (A*B) | ₩ 41,991 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 41,991 | 0 |
DS Solid.II Hedge Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 15,042 | ₩ 0 |
Proportion of ownership interest in associate (B) | 27.41% | 0.00% |
Interests in the net assets (A*B) | ₩ 4,123 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 4,123 | 0 |
Hana Semiconductor New Technology Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 52,905 | ₩ 0 |
Proportion of ownership interest in associate (B) | 24.30% | 0.00% |
Interests in the net assets (A*B) | ₩ 12,856 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 12,856 | 0 |
J&Magnet Startup Venture Specialized Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 24,513 | ₩ 0 |
Proportion of ownership interest in associate (B) | 24.39% | 0.00% |
Interests in the net assets (A*B) | ₩ 5,979 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 5,979 | 0 |
Cape IT Fund No.3 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 30,298 | ₩ 0 |
Proportion of ownership interest in associate (B) | 32.89% | 0.00% |
Interests in the net assets (A*B) | ₩ 9,967 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 9,967 | 0 |
Vogo Realty Partners Private Real Estate Fund V | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 47,958 | ₩ 0 |
Proportion of ownership interest in associate (B) | 21.64% | 0.00% |
Interests in the net assets (A*B) | ₩ 10,376 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 10,376 | 0 |
IL GU FARM CO.,LTD | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ (316) | ₩ 0 |
Proportion of ownership interest in associate (B) | 28.47% | 0.00% |
Interests in the net assets (A*B) | ₩ (90) | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 90 | 0 |
Investments in associates | 0 | 0 |
Korea Credit Bureau | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 75,689 | ₩ 0 |
Proportion of ownership interest in associate (B) | 9.00% | 0.00% |
Interests in the net assets (A*B) | ₩ 6,812 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 6,812 | 0 |
SBC PFV Co., Ltd | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 80,000 | ₩ 0 |
Proportion of ownership interest in associate (B) | 25.00% | 0.00% |
Interests in the net assets (A*B) | ₩ 20,000 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 20,000 | 0 |
Sprott Global Renewable Private Equity Fund II | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 82,718 | ₩ 0 |
Proportion of ownership interest in associate (B) | 23.10% | 0.00% |
Interests in the net assets (A*B) | ₩ 19,016 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 19,016 | 0 |
NH-amundi global infra private fund 16 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 96,316 | ₩ 0 |
Proportion of ownership interest in associate (B) | 50.00% | 0.00% |
Interests in the net assets (A*B) | ₩ 48,158 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 48,158 | 0 |
IMM Global Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 90,807 | ₩ 0 |
Proportion of ownership interest in associate (B) | 31.85% | 0.00% |
Interests in the net assets (A*B) | ₩ 28,925 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 28,925 | 0 |
HANA Alternative Estate Professional Private122 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 34,853 | ₩ 0 |
Proportion of ownership interest in associate (B) | 75.19% | 0.00% |
Interests in the net assets (A*B) | ₩ 26,205 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 26,205 | 0 |
Hanwha-Incus Plus New Technology Fund No.1 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 12,899 | ₩ 0 |
Proportion of ownership interest in associate (B) | 42.64% | 0.00% |
Interests in the net assets (A*B) | ₩ 5,499 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 5,499 | 0 |
SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 111,607 | ₩ 0 |
Proportion of ownership interest in associate (B) | 45.96% | 0.00% |
Interests in the net assets (A*B) | ₩ 51,293 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 51,293 | 0 |
SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 261,433 | ₩ 0 |
Proportion of ownership interest in associate (B) | 57.50% | 0.00% |
Interests in the net assets (A*B) | ₩ 150,317 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 150,317 | 0 |
PSA EMP Private Equity Fund | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 34,250 | ₩ 0 |
Proportion of ownership interest in associate (B) | 28.99% | 0.00% |
Interests in the net assets (A*B) | ₩ 9,927 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 9,927 | 0 |
Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 56,360 | ₩ 0 |
Proportion of ownership interest in associate (B) | 52.28% | 0.00% |
Interests in the net assets (A*B) | ₩ 29,463 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 29,463 | 0 |
SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 22,285 | ₩ 0 |
Proportion of ownership interest in associate (B) | 25.70% | 0.00% |
Interests in the net assets (A*B) | ₩ 5,727 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 5,727 | 0 |
SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 22,536 | ₩ 0 |
Proportion of ownership interest in associate (B) | 25.42% | 0.00% |
Interests in the net assets (A*B) | ₩ 5,729 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 5,729 | 0 |
BRAIN DO PROFESSIONALE PRIVATE No. 27 | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 10,295 | ₩ 0 |
Proportion of ownership interest in associate (B) | 29.13% | 0.00% |
Interests in the net assets (A*B) | ₩ 3,065 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 3,065 | 0 |
VISION US Muni US Local Debt Opportunities Professional Private1(S) | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 39,095 | ₩ 0 |
Proportion of ownership interest in associate (B) | 25.00% | 0.00% |
Interests in the net assets (A*B) | ₩ 9,869 | ₩ 0 |
Intra-group transactions | 0 | 0 |
Other reconciliations | 0 | 0 |
Investments in associates | 9,869 | 0 |
Others | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 315,179 | |
Proportion of ownership interest in associate (B) | 0.00% | |
Interests in the net assets (A*B) | ₩ 91,483 | |
Intra-group transactions | 0 | |
Other reconciliations | 366 | |
Investments in associates | ₩ 91,849 | |
Others | ||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | ||
Net Assets (A) | ₩ 337,794 | |
Proportion of ownership interest in associate (B) | 0.00% | |
Interests in the net assets (A*B) | ₩ 85,931 | |
Intra-group transactions | 0 | |
Other reconciliations | 0 | |
Investments in associates | ₩ 85,931 |
Unrecognized equity method loss
Unrecognized equity method losses and cumulative unrecognized equity method losses (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Associates | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | ₩ (183) | ₩ (46) |
Cumulative unrecognized equity method losses | (229) | (824) |
Daewontos Co., Ltd. | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | 0 | 0 |
Cumulative unrecognized equity method losses | 0 | (760) |
JAEYANG INDUSTRY | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | 0 | 0 |
Cumulative unrecognized equity method losses | 0 | (18) |
Songrim Partners | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | (14) | (8) |
Cumulative unrecognized equity method losses | (22) | (8) |
Hyungje art printing | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | (45) | (38) |
Cumulative unrecognized equity method losses | (83) | ₩ (38) |
MIEL CO.,LTD | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | (34) | |
Cumulative unrecognized equity method losses | (34) | |
IL GU FARM CO.,LTD | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | (90) | |
Cumulative unrecognized equity method losses | ₩ (90) |
Investment properties, net (Det
Investment properties, net (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Investment properties, net [Line Items] | |||
Investment properties, net | ₩ 488,610 | ₩ 474,820 | ₩ 418,303 |
Acquisition cost | |||
Investment properties, net [Line Items] | |||
Investment properties, net | 605,773 | 579,852 | |
Accumulated depreciation | |||
Investment properties, net [Line Items] | |||
Investment properties, net | ₩ (117,163) | ₩ (105,032) |
Changes in investment propertie
Changes in investment properties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Changes in investment properties [Abstract] | ||||
Beginning balance | ₩ 474,820 | ₩ 418,303 | ||
Acquisitions | 2,767 | 115,333 | ||
Disposals | (73,588) | (13,608) | ||
Depreciation | (17,565) | (16,917) | ₩ (16,095) | |
Amounts transferred from (to) property and equipment | 104,573 | (28,199) | ||
Amounts transferred to assets held for sale | [1] | (15,795) | 0 | |
Foreign currency adjustment | (169) | (92) | ||
Business combination (Note 50) | 13,567 | 0 | ||
Ending balance | ₩ 488,610 | ₩ 474,820 | ₩ 418,303 | |
[1] | Comprise land and buildings, etc. |
Income and expenses on investme
Income and expenses on investment property (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income and expenses on investment property [Abstract] | |||
Rental income | ₩ 43,777 | ₩ 32,488 | ₩ 33,023 |
Direct operating expenses for investment properties that generated rental income | ₩ 12,107 | ₩ 12,191 | ₩ 10,998 |
The fair value of investment pr
The fair value of investment property (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
The fair value of investment property [Abstract] | |||
Land and buildings | [1] | ₩ 1,062,195 | ₩ 1,121,985 |
[1] | Fair value of investment properties is estimated based on the recent market transactions and certain significant unobservable inputs. Accordingly, fair value of investment properties is classified as level 3. |
Other assets, net (Details)
Other assets, net (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Other assets, net [Abstract] | ||
Accounts receivable | ₩ 9,355,388 | ₩ 7,666,217 |
Domestic exchange settlement debit | 4,337,628 | 6,121,332 |
Guarantee deposits | 1,184,572 | 1,152,434 |
Present value discount on guarantee deposits | (45,316) | (44,694) |
Accrued income | 2,612,823 | 1,896,822 |
Prepaid expense | 193,849 | 194,040 |
Suspense payments | 71,764 | 73,153 |
Sundry assets | 93,766 | 92,221 |
Separate account assets | 8,253,351 | 2,650,302 |
Advance payments | 317,365 | 616,996 |
Unamortized deferred acquisition cost | 907,868 | 786,134 |
Other | 661,998 | 423,759 |
Allowances for credit loss of other assets | (66,775) | (56,798) |
Total Other Assets | ₩ 27,878,281 | ₩ 21,571,918 |
Finance lease receivables of th
Finance lease receivables of the Group as lessor (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Finance lease receivables of the Group as lessor [Line Items] | ||
Gross investment | ₩ 1,900,179 | ₩ 1,918,527 |
Unearned finance income | 216,802 | 191,704 |
Present value of minimum lease payment | 1,683,377 | 1,726,823 |
Not later than 1 year | ||
Finance lease receivables of the Group as lessor [Line Items] | ||
Gross investment | 529,326 | 595,427 |
Unearned finance income | 94,809 | 85,333 |
Present value of minimum lease payment | 434,517 | 510,094 |
1~2 years | ||
Finance lease receivables of the Group as lessor [Line Items] | ||
Gross investment | 443,708 | |
Unearned finance income | 63,226 | |
Present value of minimum lease payment | 380,482 | |
2~3 years | ||
Finance lease receivables of the Group as lessor [Line Items] | ||
Gross investment | 469,754 | |
Unearned finance income | 37,725 | |
Present value of minimum lease payment | 432,029 | |
3~4 years | ||
Finance lease receivables of the Group as lessor [Line Items] | ||
Gross investment | 289,798 | |
Unearned finance income | 16,773 | |
Present value of minimum lease payment | 273,025 | |
4~5 years | ||
Finance lease receivables of the Group as lessor [Line Items] | ||
Gross investment | 150,811 | |
Unearned finance income | 4,225 | |
Present value of minimum lease payment | 146,586 | |
1~5 years | ||
Finance lease receivables of the Group as lessor [Line Items] | ||
Gross investment | 1,306,571 | |
Unearned finance income | 106,333 | |
Present value of minimum lease payment | 1,200,238 | |
Later than 5 years | ||
Finance lease receivables of the Group as lessor [Line Items] | ||
Gross investment | 16,782 | 16,529 |
Unearned finance income | 44 | 38 |
Present value of minimum lease payment | ₩ 16,738 | ₩ 16,491 |
The scheduled maturities of min
The scheduled maturities of minimum lease payments for finance and operating leases of the Group as lessor (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
The scheduled maturities of minimum lease payments for finance leases of the Group as lessor [Line Items] | ||
Minimum lease payment | ₩ 1,900,179 | ₩ 1,918,527 |
Present Value Adjustment | 216,802 | 191,704 |
Present value of minimum lease payment | 1,683,377 | 1,726,823 |
Not later than 1 year | ||
The scheduled maturities of minimum lease payments for finance leases of the Group as lessor [Line Items] | ||
Minimum lease payment | 529,326 | 595,427 |
Present Value Adjustment | 94,809 | 85,333 |
Present value of minimum lease payment | 434,517 | 510,094 |
1~2 years | ||
The scheduled maturities of minimum lease payments for finance leases of the Group as lessor [Line Items] | ||
Minimum lease payment | 443,708 | |
Present Value Adjustment | 63,226 | |
Present value of minimum lease payment | 380,482 | |
2~3 years | ||
The scheduled maturities of minimum lease payments for finance leases of the Group as lessor [Line Items] | ||
Minimum lease payment | 469,754 | |
Present Value Adjustment | 37,725 | |
Present value of minimum lease payment | 432,029 | |
3~4 years | ||
The scheduled maturities of minimum lease payments for finance leases of the Group as lessor [Line Items] | ||
Minimum lease payment | 289,798 | |
Present Value Adjustment | 16,773 | |
Present value of minimum lease payment | 273,025 | |
4~5 years | ||
The scheduled maturities of minimum lease payments for finance leases of the Group as lessor [Line Items] | ||
Minimum lease payment | 150,811 | |
Present Value Adjustment | 4,225 | |
Present value of minimum lease payment | 146,586 | |
1~5 years | ||
The scheduled maturities of minimum lease payments for finance leases of the Group as lessor [Line Items] | ||
Minimum lease payment | 1,306,571 | |
Present Value Adjustment | 106,333 | |
Present value of minimum lease payment | 1,200,238 | |
Later than 5 years | ||
The scheduled maturities of minimum lease payments for finance leases of the Group as lessor [Line Items] | ||
Minimum lease payment | 16,782 | 16,529 |
Present Value Adjustment | 44 | 38 |
Present value of minimum lease payment | ₩ 16,738 | ₩ 16,491 |
Scheduled maturities of minimum
Scheduled maturities of minimum lease payments of the Group as lessor (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Scheduled maturities of minimum lease payments of the Group as lessor [Line Items] | ||
Minimum lease payment | ₩ 389,414 | ₩ 274,854 |
Not later than 1 year | ||
Scheduled maturities of minimum lease payments of the Group as lessor [Line Items] | ||
Minimum lease payment | 142,140 | 94,540 |
1~2 years | ||
Scheduled maturities of minimum lease payments of the Group as lessor [Line Items] | ||
Minimum lease payment | 118,781 | |
2~3 years | ||
Scheduled maturities of minimum lease payments of the Group as lessor [Line Items] | ||
Minimum lease payment | 76,379 | |
3~4 years | ||
Scheduled maturities of minimum lease payments of the Group as lessor [Line Items] | ||
Minimum lease payment | 37,047 | |
4~5 years | ||
Scheduled maturities of minimum lease payments of the Group as lessor [Line Items] | ||
Minimum lease payment | 14,984 | |
1~5 years | ||
Scheduled maturities of minimum lease payments of the Group as lessor [Line Items] | ||
Minimum lease payment | 180,304 | |
Later than 5 years | ||
Scheduled maturities of minimum lease payments of the Group as lessor [Line Items] | ||
Minimum lease payment | ₩ 83 | ₩ 10 |
Changes in operating lease asse
Changes in operating lease assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Changes in operating lease assets [Line Items] | ||
Beginning balance | ₩ 3,003,886 | ₩ 3,021,772 |
Acquisitions | 1,076,404 | 150,889 |
Disposals | (43,644) | (30,716) |
Depreciation | (479,657) | (171,771) |
Ending balance | 4,083,328 | 3,003,886 |
Property Plant And Equipment By Operating Lease Status [Member] | ||
Changes in operating lease assets [Line Items] | ||
Beginning balance | 370,868 | |
Acquisitions | 411,971 | |
Disposals | (134,810) | |
Depreciation | (98,288) | |
Ending balance | ₩ 549,741 | ₩ 370,868 |
Right-of-use assets by the less
Right-of-use assets by the lessee's underlying asset type (Details) ₩ in Millions | Dec. 31, 2019KRW (₩) |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | ₩ 1,112,796 |
Real estate | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | 1,077,803 |
Vehicle | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | 21,994 |
Others | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | 12,999 |
Acquisition cost | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | 1,357,206 |
Acquisition cost | Real estate | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | 1,306,759 |
Acquisition cost | Vehicle | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | 30,051 |
Acquisition cost | Others | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | 20,396 |
Accumulated depreciation | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | (244,410) |
Accumulated depreciation | Real estate | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | (228,956) |
Accumulated depreciation | Vehicle | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | (8,057) |
Accumulated depreciation | Others | |
Right-of-use assets by the lessee's underlying asset type [Line Items] | |
Right-of-use Assets | ₩ (7,397) |
Changes in right-of-use assets
Changes in right-of-use assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of Changes in property and equipment [Line Items] | ||
Beginning balance | ₩ 1,076,404 | ₩ 150,889 |
Acquisitions | 1,076,404 | 150,889 |
Disposals | (43,644) | (30,716) |
Depreciation | (479,657) | (171,771) |
Effects of foreign currency movements | 14,031 | 5,593 |
Business combination (Note 50) | 43,242 | |
Ending balance | 4,083,328 | 3,003,886 |
Right-of-use assets | ||
Schedule of Changes in property and equipment [Line Items] | ||
Beginning balance | 805,783 | |
Disposals | (12,595) | |
Depreciation | (298,538) | |
Effects of foreign currency movements | 2,981 | |
Business combination (Note 50) | 31,589 | |
Ending balance | 1,112,796 | |
Right-of-use assets | Real estate | ||
Schedule of Changes in property and equipment [Line Items] | ||
Beginning balance | 554,478 | |
Acquisitions | 781,097 | |
Disposals | (10,808) | |
Depreciation | (280,691) | |
Effects of foreign currency movements | 2,890 | |
Business combination (Note 50) | 30,837 | |
Ending balance | 1,077,803 | 554,478 |
Right-of-use assets | Vehicle | ||
Schedule of Changes in property and equipment [Line Items] | ||
Beginning balance | 16,528 | |
Acquisitions | 16,523 | |
Disposals | (1,638) | |
Depreciation | (10,094) | |
Effects of foreign currency movements | 91 | |
Business combination (Note 50) | 584 | |
Ending balance | 21,994 | 16,528 |
Right-of-use assets | Others | ||
Schedule of Changes in property and equipment [Line Items] | ||
Beginning balance | 12,570 | |
Acquisitions | 8,163 | |
Disposals | (149) | |
Depreciation | (7,753) | |
Effects of foreign currency movements | 0 | |
Business combination (Note 50) | 168 | |
Ending balance | ₩ 12,999 | ₩ 12,570 |
Maturity of the lease liability
Maturity of the lease liability (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | ₩ 1,104,259 | ₩ 0 |
Real estate | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 1,066,868 | |
Vehicle | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 23,616 | |
Others | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 13,775 | |
Less than 1 month | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 23,304 | |
Less than 1 month | Real estate | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 20,967 | |
Less than 1 month | Vehicle | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 1,378 | |
Less than 1 month | Others | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 959 | |
1~3 months | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 36,893 | |
1~3 months | Real estate | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 34,357 | |
1~3 months | Vehicle | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 1,542 | |
1~3 months | Others | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 994 | |
3~6 months | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 51,110 | |
3~6 months | Real estate | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 47,644 | |
3~6 months | Vehicle | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 2,178 | |
3~6 months | Others | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 1,288 | |
6 months ~ 1 year | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 92,393 | |
6 months ~ 1 year | Real estate | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 86,228 | |
6 months ~ 1 year | Vehicle | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 4,108 | |
6 months ~ 1 year | Others | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 2,057 | |
1~5 years | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 871,586 | |
1~5 years | Real estate | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 848,699 | |
1~5 years | Vehicle | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 14,410 | |
1~5 years | Others | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 8,477 | |
More than 5 years | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 28,973 | |
More than 5 years | Real estate | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 28,973 | |
More than 5 years | Vehicle | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | 0 | |
More than 5 years | Others | ||
Disclosure of maturity analysis of lease liability [Line Items] | ||
Lease liabilities | ₩ 0 |
Lease payments for low-value as
Lease payments for low-value assets and short-term leases (Details) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019KRW (₩) | ||
Lease payments for low-value assets and short-term leases [Abstract] | ||
Low-value assets | ₩ 5,045 | |
Short-term lease | 907 | [1] |
Total | ₩ 5,952 | |
[1] | The payments less than 1 month are included. |
Assets pledged as collateral (D
Assets pledged as collateral (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Collateral pledged | ||
Assets pledged as collateral [Line Items] | ||
Assets pledged as collateral | ₩ 31,535,530 | ₩ 25,340,891 |
Loans at amortized cost | ||
Assets pledged as collateral [Line Items] | ||
Assets pledged as collateral | 128,163 | 129,210 |
Securities | ||
Assets pledged as collateral [Line Items] | ||
Assets pledged as collateral | 30,195,356 | 23,576,106 |
Financial assets at fair value through profit or loss | ||
Assets pledged as collateral [Line Items] | ||
Assets pledged as collateral | 15,016,057 | 11,533,107 |
Financial assets at fair value through other comprehensive income | ||
Assets pledged as collateral [Line Items] | ||
Assets pledged as collateral | 2,387,555 | 1,372,746 |
Securities at amortized cost | ||
Assets pledged as collateral [Line Items] | ||
Assets pledged as collateral | 12,791,744 | 10,670,253 |
Deposits | ||
Assets pledged as collateral [Line Items] | ||
Assets pledged as collateral | 1,212,011 | 1,635,575 |
Deposits at amortized cost | ||
Assets pledged as collateral [Line Items] | ||
Assets pledged as collateral | 1,090,161 | 1,481,085 |
Real estate | ||
Assets pledged as collateral [Line Items] | ||
Assets pledged as collateral | 121,446 | 154,490 |
Other financial assets | ||
Assets pledged as collateral [Line Items] | ||
Assets pledged as collateral | ₩ 404 | ₩ 0 |
Fair value of collateral held t
Fair value of collateral held that the Group has the right to sell or repledge regardless of pledger's default (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair value of collateral held that the Group has the right to sell or repledge regardless of pledger's default [Abstract] | ||
Securities pledged as collateral | ₩ 9,240,573 | ₩ 7,342,239 |
Securities received as collateral | ₩ 2,007,036 | ₩ 5,190,387 |
Deposits (Details)
Deposits (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deposits [Line Items] | ||
Deposits | ₩ 294,874,256 | ₩ 265,000,190 |
Demand Deposits | ||
Deposits [Line Items] | ||
Deposits | 116,282,707 | 106,160,833 |
Demand Deposits | Domestic currency | ||
Deposits [Line Items] | ||
Deposits | 103,048,895 | 94,210,806 |
Demand Deposits | Foreign currency | ||
Deposits [Line Items] | ||
Deposits | 13,233,812 | 11,950,027 |
Time Deposits | ||
Deposits [Line Items] | ||
Deposits | 158,427,447 | 139,644,763 |
Time Deposits | Domestic currency | ||
Deposits [Line Items] | ||
Deposits | 139,824,896 | 123,572,793 |
Time Deposits | Foreign currency | ||
Deposits [Line Items] | ||
Deposits | 18,602,551 | 16,071,970 |
Negotiable certificates of deposits | ||
Deposits [Line Items] | ||
Deposits | 9,707,791 | 9,247,088 |
Note discount deposits | ||
Deposits [Line Items] | ||
Deposits | 4,579,587 | 4,087,530 |
CMA | ||
Deposits [Line Items] | ||
Deposits | 3,987,372 | 4,084,709 |
Other | ||
Deposits [Line Items] | ||
Deposits | ₩ 1,889,352 | ₩ 1,775,267 |
Financial liabilities at fair_3
Financial liabilities at fair value through profit or loss (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | ₩ 1,632,457 | ₩ 1,420,306 |
Securities sold | ||
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | 1,164,697 | 961,372 |
Stocks | ||
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | 298,008 | 488,873 |
Municipal bonds | ||
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | 825,942 | 440,382 |
Other securities | ||
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | 40,747 | 32,117 |
Gold deposits | ||
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | ₩ 467,760 | ₩ 458,934 |
Financial liabilities designa_3
Financial liabilities designated at fair value through profit or loss (IFRS9) (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Financial liabilities designated at fair value through profit or loss (IFRS9) [Line Items] | |||
Financial liabilities designated at fair value through profit or loss (IFRS9) | [1] | ₩ 9,409,456 | ₩ 8,535,800 |
Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Financial liabilities designated at fair value through profit or loss (IFRS9) [Line Items] | |||
Financial liabilities designated at fair value through profit or loss (IFRS9) | [1] | 9,409,456 | 8,535,800 |
Equity-linked securities sold | |||
Financial liabilities designated at fair value through profit or loss (IFRS9) [Line Items] | |||
Financial liabilities designated at fair value through profit or loss (IFRS9) | [1] | 6,880,811 | 6,439,292 |
Derivatives-combined securities sold | |||
Financial liabilities designated at fair value through profit or loss (IFRS9) [Line Items] | |||
Financial liabilities designated at fair value through profit or loss (IFRS9) | [1] | ₩ 2,528,645 | ₩ 2,096,508 |
[1] | The Group designated the financial liabilities at the initial recognition (or subsequently) in accordance with paragraph 6.7.1 of IFRS 9 as financial liabilities at fair value through profit or loss. |
Borrowings (Details)
Borrowings (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Borrowings [Line Items] | ||
Deferred origination costs | ₩ (109,067) | ₩ (122,161) |
Borrowings | 34,863,156 | 29,818,542 |
Borrowings | ||
Borrowings [Line Items] | ||
Borrowings, gross | 34,864,166 | 29,820,398 |
Deferred origination costs | (1,010) | (1,856) |
Borrowings | 34,863,156 | 29,818,542 |
In won | ||
Borrowings [Line Items] | ||
Borrowings, gross | ₩ 16,631,442 | ₩ 14,438,687 |
Borrowings from Bank of Korea | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 0.75% | 0.75% |
Minimum Interest rate | 0.50% | 0.50% |
Borrowings, gross | ₩ 2,429,346 | ₩ 2,329,946 |
Others | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 6.00% | 4.25% |
Minimum Interest rate | 0.00% | 0.00% |
Borrowings, gross | ₩ 14,202,096 | ₩ 12,108,741 |
In foreign currency | ||
Borrowings [Line Items] | ||
Borrowings, gross | ₩ 8,411,671 | ₩ 6,327,354 |
Overdraft due to banks | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 0.00% | 0.00% |
Minimum Interest rate | 0.00% | 0.00% |
Borrowings, gross | ₩ 86,791 | ₩ 77,673 |
Borrowings from banks | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 7.50% | 12.00% |
Minimum Interest rate | 0.11% | 0.00% |
Borrowings, gross | ₩ 6,576,849 | ₩ 4,653,055 |
Others | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 13.65% | 7.90% |
Minimum Interest rate | 1.94% | 2.60% |
Borrowings, gross | ₩ 1,748,031 | ₩ 1,596,626 |
Call money | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 5.25% | 6.85% |
Minimum Interest rate | 0.00% | 0.00% |
Borrowings, gross | ₩ 712,247 | ₩ 1,425,162 |
Bills sold | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 1.60% | 1.70% |
Minimum Interest rate | 0.80% | 0.75% |
Borrowings, gross | ₩ 19,070 | ₩ 14,536 |
Bonds sold under repurchase agreements | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 5.40% | 6.50% |
Minimum Interest rate | 0.95% | 0.50% |
Borrowings, gross | ₩ 9,089,736 | ₩ 7,614,659 |
Deferred origination costs | ||
Borrowings [Line Items] | ||
Deferred origination costs | ₩ (1,010) | ₩ (1,856) |
Debt securities issued (Details
Debt securities issued (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Debt securities issued [Line Items] | ||
Debt securities issued, gross | ₩ 75,418,859 | ₩ 63,612,096 |
Discount on debt securities issued | (109,067) | (122,161) |
Gain(Loss) on fair value hedges | 53,572 | (262,236) |
In won | ||
Debt securities issued [Line Items] | ||
Debt securities issued, gross | 64,871,238 | 55,061,617 |
Discount on debt securities issued | (66,334) | (84,962) |
Gain(Loss) on fair value hedges | ₩ (87,692) | ₩ (206,985) |
In won | Debt securities issued | ||
Debt securities issued [Line Items] | ||
Maximum interest rate | 8.00% | 8.00% |
Minimum interest rate | 0.71% | 0.00% |
Debt securities issued, gross | ₩ 60,501,093 | ₩ 50,661,472 |
In won | Subordinated debt securities issued | ||
Debt securities issued [Line Items] | ||
Maximum interest rate | 4.60% | 4.60% |
Minimum interest rate | 2.20% | 2.20% |
Debt securities issued, gross | ₩ 4,370,145 | ₩ 4,400,145 |
In won | Gain (loss) on fair value hedges | ||
Debt securities issued [Line Items] | ||
Gain(Loss) on fair value hedges | (87,692) | (206,985) |
In won | Discount on debt securities issued | ||
Debt securities issued [Line Items] | ||
Discount on debt securities issued | (66,334) | (84,962) |
In foreign currency | ||
Debt securities issued [Line Items] | ||
Debt securities issued, gross | 10,547,621 | 8,550,479 |
Discount on debt securities issued | (42,733) | (37,199) |
Gain(Loss) on fair value hedges | ₩ 141,264 | ₩ (55,251) |
In foreign currency | Debt securities issued | ||
Debt securities issued [Line Items] | ||
Maximum interest rate | 7.59% | 4.01% |
Minimum interest rate | 0.01% | 0.20% |
Debt securities issued, gross | ₩ 6,750,085 | ₩ 6,278,680 |
In foreign currency | Subordinated debt securities issued | ||
Debt securities issued [Line Items] | ||
Maximum interest rate | 5.10% | 5.00% |
Minimum interest rate | 3.34% | 3.75% |
Debt securities issued, gross | ₩ 3,797,536 | ₩ 2,271,799 |
In foreign currency | Gain (loss) on fair value hedges | ||
Debt securities issued [Line Items] | ||
Gain(Loss) on fair value hedges | 141,264 | (55,251) |
In foreign currency | Discount on debt securities issued | ||
Debt securities issued [Line Items] | ||
Discount on debt securities issued | ₩ (42,733) | ₩ (37,199) |
Defined benefit plan assets and
Defined benefit plan assets and liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Defined benefit plan assets and liabilities [Abstract] | |||
Present value of defined benefit obligations | ₩ 2,063,102 | ₩ 1,841,982 | |
Fair value of plan assets | (1,943,644) | (1,714,634) | |
Recognized liabilities for defined benefit obligations | ₩ 119,458 | ₩ 127,348 | ₩ 7,144 |
Changes in the present value of
Changes in the present value of defined benefit obligation and plan assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Changes in the present value of defined benefit obligation and plan assets [Line Items] | |||
Beginning balance | ₩ 127,348 | ₩ 7,144 | |
Included in profit or loss: | |||
Current service cost | 172,490 | 144,923 | |
Past service cost | (1,588) | 54 | |
Interest expense (income) | 2,917 | (6,840) | |
Settlement expense (income) | (29) | 0 | |
Subtotal | 173,790 | 138,137 | |
Included in other comprehensive income: | |||
Demographic assumptions | (7,584) | 18,399 | |
Financial assumptions | 53,475 | 79,038 | |
Experience adjustment | 8,001 | (10,762) | |
Return on plan assets excluding interest income | 21,719 | 41,701 | |
Subtotal | 75,611 | 128,376 | |
Other: | |||
Benefits paid by the plan | (7,003) | (5,603) | |
Contributions paid into the plan | (252,858) | (139,348) | |
Settlement gain or loss | 216 | 407 | |
Business combination (Note 50) | 2,367 | ||
Effect of movements in exchange rates | (13) | (1,273) | |
Others | [1] | 0 | (492) |
Subtotal | (257,291) | (146,309) | |
Ending balance | 119,458 | 127,348 | |
Defined benefit obligation | |||
Changes in the present value of defined benefit obligation and plan assets [Line Items] | |||
Beginning balance | 1,841,982 | 1,695,191 | |
Included in profit or loss: | |||
Current service cost | 172,490 | 144,923 | |
Past service cost | (1,588) | 54 | |
Interest expense (income) | 57,253 | 59,836 | |
Settlement expense (income) | (29) | 0 | |
Subtotal | 228,126 | 204,813 | |
Included in other comprehensive income: | |||
Demographic assumptions | (7,584) | 18,399 | |
Financial assumptions | 53,475 | 79,038 | |
Experience adjustment | 8,001 | (10,762) | |
Return on plan assets excluding interest income | 0 | 0 | |
Subtotal | 53,892 | 86,675 | |
Other: | |||
Benefits paid by the plan | (87,066) | (142,938) | |
Contributions paid into the plan | 0 | 0 | |
Settlement gain or loss | 216 | 407 | |
Business combination (Note 50) | 25,965 | ||
Effect of movements in exchange rates | (13) | (1,273) | |
Others | [1] | 0 | (893) |
Subtotal | (60,898) | (144,697) | |
Ending balance | 2,063,102 | 1,841,982 | |
Plan assets | |||
Changes in the present value of defined benefit obligation and plan assets [Line Items] | |||
Beginning balance | (1,714,634) | (1,688,047) | |
Included in profit or loss: | |||
Current service cost | 0 | 0 | |
Past service cost | 0 | 0 | |
Interest expense (income) | (54,336) | (66,676) | |
Settlement expense (income) | 0 | 0 | |
Subtotal | (54,336) | (66,676) | |
Included in other comprehensive income: | |||
Demographic assumptions | 0 | 0 | |
Financial assumptions | 0 | 0 | |
Experience adjustment | 0 | 0 | |
Return on plan assets excluding interest income | 21,719 | 41,701 | |
Subtotal | 21,719 | 41,701 | |
Other: | |||
Benefits paid by the plan | 80,063 | 137,335 | |
Contributions paid into the plan | (252,858) | (139,348) | |
Settlement gain or loss | 0 | 0 | |
Business combination (Note 50) | (23,598) | ||
Effect of movements in exchange rates | 0 | 0 | |
Others | [1] | 0 | 401 |
Subtotal | (196,393) | (1,612) | |
Ending balance | ₩ (1,943,644) | ₩ (1,714,634) | |
[1] | Others represent the change amounts due to the conversion to defined contribution. |
Composition of plan assets (Det
Composition of plan assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Composition of plan assets [Abstract] | ||
Equity securities | ₩ 256,353 | ₩ 257,581 |
Debt securities | 28,094 | 817 |
Due from banks | 1,577,274 | 1,394,634 |
Other | 81,923 | 61,602 |
Plan assets | ₩ 1,943,644 | ₩ 1,714,634 |
Actuarial assumptions (Details)
Actuarial assumptions (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Minimum | ||
Actuarial assumptions [Line Items] | ||
Discount rate | 2.71% | 3.02% |
Future salary increase rate | 1.80% | 0.99% |
Weighted average maturity | 8.2 years | 7.7 years |
Maximum | ||
Actuarial assumptions [Line Items] | ||
Discount rate | 3.17% | 3.22% |
Future salary increase rate | 4.00% | 3.40% |
Weighted average maturity | 16.2 years | 9.9 years |
Sensitivity analysis for actuar
Sensitivity analysis for actuarial assumptions (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Discount rate | ||
Sensitivity analysis for actuarial assumptions [Line Items] | ||
Increase | ₩ (201,770) | ₩ (159,549) |
Decrease | 233,057 | 180,542 |
Future salary increase rate | ||
Sensitivity analysis for actuarial assumptions [Line Items] | ||
Increase | 231,967 | 176,924 |
Decrease | ₩ (204,242) | ₩ (159,169) |
Provisions (Details)
Provisions (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | [1] | |
Provisions [Line Items] | |||||
Provisions | ₩ 557,024 | ₩ 508,416 | [1] | ||
Asset retirement | |||||
Provisions [Line Items] | |||||
Provisions | 64,922 | 49,183 | [1] | ₩ 45,495 | |
Litigation | |||||
Provisions [Line Items] | |||||
Provisions | 8,789 | 25,554 | [1] | 32,650 | |
Unused credit | |||||
Provisions [Line Items] | |||||
Provisions | 263,752 | 232,347 | |||
Financial guarantee contracts | |||||
Provisions [Line Items] | |||||
Provisions | 100,430 | 115,325 | [1] | ||
Other | |||||
Provisions [Line Items] | |||||
Provisions | ₩ 119,131 | ₩ 86,007 | [1] | ₩ 75,512 | |
[1] | In accordance with IFRS 15, the Group has adjusted all bonus card point reward program related to customer loyalty programs. |
Changes in provisions (Details)
Changes in provisions (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | |||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | ₩ 508,416 | ||
Ending balance | 557,024 | ₩ 508,416 | [1] | |
Provision for unused credit commitments and financial guarantee contracts issued | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 304,202 | 259,927 | |
Transfer To 12 Month Expected Credit Loss | 0 | 0 | ||
Transfer To Life Time Expected Credit Loss | 0 | 0 | ||
Transfer To Impaired Financial Asset | 0 | 0 | ||
Provided | 59,077 | 41,550 | ||
Reversed | (29,558) | (36,724) | ||
Provision used | 0 | 0 | ||
Foreign exchange translation | 2,762 | 2,371 | ||
Others | [2] | 2,116 | 37,078 | |
Ending balance | 338,599 | 304,202 | [1] | |
Unused credit commitments provision | 12-month expected credit losses | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 126,402 | 124,492 | |
Transfer To 12 Month Expected Credit Loss | 42,838 | 42,514 | ||
Transfer To Life Time Expected Credit Loss | (9,286) | (8,899) | ||
Transfer To Impaired Financial Asset | (229) | (213) | ||
Reversed | (28,611) | (32,070) | ||
Provision used | 0 | 0 | ||
Foreign exchange translation | 914 | 578 | ||
Others | [2] | 0 | 0 | |
Ending balance | 132,028 | 126,402 | [1] | |
Unused credit commitments provision | Lifetime expected credit losses | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 100,808 | 96,010 | |
Transfer To 12 Month Expected Credit Loss | (42,728) | (42,057) | ||
Transfer To Life Time Expected Credit Loss | 9,314 | 8,976 | ||
Transfer To Impaired Financial Asset | (752) | (802) | ||
Provided | 53,076 | 38,576 | ||
Provision used | 0 | 0 | ||
Foreign exchange translation | 121 | 105 | ||
Others | [2] | 0 | 0 | |
Ending balance | 119,839 | 100,808 | [1] | |
Unused credit commitments provision | Financial instruments credit-impaired | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 5,137 | 2,137 | |
Transfer To 12 Month Expected Credit Loss | (110) | (457) | ||
Transfer To Life Time Expected Credit Loss | (28) | (77) | ||
Transfer To Impaired Financial Asset | 981 | 1,015 | ||
Provided | 5,905 | 2,519 | ||
Provision used | 0 | 0 | ||
Foreign exchange translation | 0 | 0 | ||
Others | [2] | 0 | 0 | |
Ending balance | 11,885 | 5,137 | [1] | |
Financial guarantee contracts | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 115,325 | ||
Ending balance | 100,430 | 115,325 | [1] | |
Financial guarantee contracts | 12-month expected credit losses | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 64,194 | 31,456 | |
Transfer To 12 Month Expected Credit Loss | 2,629 | 1,140 | ||
Transfer To Life Time Expected Credit Loss | (1,245) | (1,804) | ||
Transfer To Impaired Financial Asset | (12) | (13) | ||
Reversed | (4) | (3,964) | ||
Provision used | 0 | 0 | ||
Foreign exchange translation | 1,302 | 758 | ||
Others | [2] | 1,603 | 36,621 | |
Ending balance | 68,467 | 64,194 | [1] | |
Financial guarantee contracts | Lifetime expected credit losses | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 5,904 | 3,368 | |
Transfer To 12 Month Expected Credit Loss | (2,629) | (1,140) | ||
Transfer To Life Time Expected Credit Loss | 1,245 | 1,804 | ||
Transfer To Impaired Financial Asset | 0 | 0 | ||
Provided | 96 | 455 | ||
Provision used | 0 | 0 | ||
Foreign exchange translation | 323 | 481 | ||
Others | [2] | 630 | 936 | |
Ending balance | 5,569 | 5,904 | [1] | |
Financial guarantee contracts | Financial instruments credit-impaired | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 1,757 | 2,464 | |
Transfer To 12 Month Expected Credit Loss | 0 | 0 | ||
Transfer To Life Time Expected Credit Loss | 0 | 0 | ||
Transfer To Impaired Financial Asset | 12 | 13 | ||
Reversed | (943) | (690) | ||
Provision used | 0 | 0 | ||
Foreign exchange translation | 102 | 449 | ||
Others | [2] | (117) | (479) | |
Ending balance | 811 | 1,757 | [1] | |
Other provisions | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 204,214 | 199,997 | |
Provided | 0 | 9,689 | ||
Reversed | (27,343) | (3,971) | ||
Provision used | (66,512) | (18,107) | ||
Foreign exchange translation | 1,802 | 1,056 | ||
Others | [2] | 8,282 | 15,550 | |
Business combination (Note 50) | 97,982 | 0 | ||
Ending balance | 218,425 | 204,214 | [1] | |
Asset retirement | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 49,183 | 45,495 | |
Provided | 4,789 | |||
Reversed | (1,280) | |||
Provision used | (1,930) | (4,210) | ||
Foreign exchange translation | 0 | 0 | ||
Others | [2] | 4,476 | 3,109 | |
Business combination (Note 50) | 14,473 | 0 | ||
Ending balance | 64,922 | 49,183 | [1] | |
Litigation | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 25,554 | 32,650 | |
Reversed | (981) | (1,138) | ||
Provision used | (17,365) | (6,343) | ||
Foreign exchange translation | 0 | 385 | ||
Others | [2] | 0 | 0 | |
Business combination (Note 50) | 1,581 | 0 | ||
Ending balance | 8,789 | 25,554 | [1] | |
Guarantee | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 43,470 | 46,340 | |
Reversed | (19,329) | (2,833) | ||
Provision used | 0 | 0 | ||
Foreign exchange translation | 1,420 | 1,677 | ||
Others | [2] | 22 | (1,714) | |
Business combination (Note 50) | 0 | 0 | ||
Ending balance | 25,583 | 43,470 | [1] | |
Other | ||||
Changes in provisions [Line Items] | ||||
Beginning balance | [1] | 86,007 | 75,512 | |
Provided | 4,900 | |||
Reversed | (5,753) | |||
Provision used | (47,217) | (7,554) | ||
Foreign exchange translation | 382 | (1,006) | ||
Others | [2] | 3,784 | 14,155 | |
Business combination (Note 50) | 81,928 | 0 | ||
Ending balance | ₩ 119,131 | ₩ 86,007 | [1] | |
[1] | In accordance with IFRS 15, the Group has adjusted all bonus card point reward program related to customer loyalty programs. | |||
[2] | Others include effects of the provision from the new financial guarantee contracts measured at fair value, expired contracts, effects of unwinding and change of discount rate. |
Allowance for guarantees and ac
Allowance for guarantees and acceptances (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Allowance for guarantees and acceptances [Abstract] | ||
Guarantees and acceptances outstanding | ₩ 9,317,412 | ₩ 9,437,691 |
Contingent guarantees and acceptances | 3,669,681 | 3,985,532 |
ABS and ABCP purchase commitments | 2,116,354 | 2,083,522 |
Endorsed bill | 11,287 | 37,667 |
Total Guarantees and acceptances | 15,114,734 | 15,544,412 |
Allowance for loss on guarantees and acceptances | ₩ 100,430 | ₩ 115,325 |
Ratio | 0.66% | 0.74% |
Insurance liabilities (Details)
Insurance liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Insurance liabilities [Abstract] | ||
Policy reserve | ₩ 52,086,132 | ₩ 26,211,044 |
Policyholder's equity adjustment | 77,285 | 7,838 |
Total Insurance liabilities | ₩ 52,163,417 | ₩ 26,218,882 |
Policy reserve (Details)
Policy reserve (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Policy reserve [Abstract] | ||
Interest rate linked | ₩ 30,058,020 | ₩ 17,328,353 |
Fixed interest rate | 22,028,112 | 8,882,691 |
Policy reserve, total | ₩ 52,086,132 | ₩ 26,211,044 |
The details of policy reserves
The details of policy reserves (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Details of policy reserves [Line Items] | ||
Premium reserve | ₩ 50,113,972 | ₩ 24,958,573 |
Guarantee reserve | 279,989 | 75,250 |
Unearned premium reserve | 1,238 | 810 |
Reserve for outstanding claims | 1,547,230 | 1,140,410 |
Interest rate difference guarantee reserve | 2,317 | 2,227 |
Mortality gains reserve | 51,273 | 11,946 |
Interest gains reserve | 24,770 | 18,935 |
Expense gains reserve | 15,646 | 0 |
Long term duration dividend reserve | 46,603 | 62 |
Reserve for policyholder's profit dividend | 2,268 | 1,773 |
Reserve for losses on dividend insurance contract | 826 | 1,058 |
Policy reserve, total | 52,086,132 | 26,211,044 |
Individual insurance | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 50,092,000 | 24,934,093 |
Guarantee reserve | 279,989 | 75,250 |
Unearned premium reserve | 947 | 304 |
Reserve for outstanding claims | 1,530,372 | 1,122,321 |
Interest rate difference guarantee reserve | 2,317 | 2,227 |
Mortality gains reserve | 51,271 | 11,943 |
Interest gains reserve | 24,770 | 18,935 |
Expense gains reserve | 15,646 | 0 |
Long term duration dividend reserve | 46,603 | 62 |
Reserve for policyholder's profit dividend | 2,268 | 1,773 |
Reserve for losses on dividend insurance contract | 826 | 1,058 |
Policy reserve, total | 52,047,009 | 26,167,966 |
Pure endowment | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 14,668,777 | 5,729,045 |
Guarantee reserve | 29,400 | 10,148 |
Unearned premium reserve | 2 | 3 |
Reserve for outstanding claims | 212,641 | 99,676 |
Interest rate difference guarantee reserve | 2,158 | 2,068 |
Mortality gains reserve | 8,945 | 7,026 |
Interest gains reserve | 24,486 | 18,662 |
Expense gains reserve | 6,211 | 0 |
Long term duration dividend reserve | 31,202 | 52 |
Reserve for policyholder's profit dividend | 2,268 | 1,773 |
Reserve for losses on dividend insurance contract | 826 | 1,058 |
Policy reserve, total | 14,986,916 | 5,869,511 |
Death | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 24,979,936 | 11,722,964 |
Guarantee reserve | 249,845 | 64,978 |
Unearned premium reserve | 945 | 301 |
Reserve for outstanding claims | 1,084,472 | 837,317 |
Interest rate difference guarantee reserve | 149 | 148 |
Mortality gains reserve | 42,173 | 4,741 |
Interest gains reserve | 267 | 254 |
Expense gains reserve | 9,434 | 0 |
Long term duration dividend reserve | 15,388 | 9 |
Reserve for policyholder's profit dividend | 0 | 0 |
Reserve for losses on dividend insurance contract | 0 | 0 |
Policy reserve, total | 26,382,609 | 12,630,712 |
Endowment | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 10,443,287 | 7,482,084 |
Guarantee reserve | 744 | 124 |
Unearned premium reserve | 0 | 0 |
Reserve for outstanding claims | 233,259 | 185,328 |
Interest rate difference guarantee reserve | 10 | 11 |
Mortality gains reserve | 153 | 176 |
Interest gains reserve | 17 | 19 |
Expense gains reserve | 1 | 0 |
Long term duration dividend reserve | 13 | 1 |
Reserve for policyholder's profit dividend | 0 | 0 |
Reserve for losses on dividend insurance contract | 0 | 0 |
Policy reserve, total | 10,677,484 | 7,667,743 |
Group insurance | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 21,972 | 24,480 |
Guarantee reserve | 0 | 0 |
Unearned premium reserve | 291 | 506 |
Reserve for outstanding claims | 16,858 | 18,089 |
Interest rate difference guarantee reserve | 0 | 0 |
Mortality gains reserve | 2 | 3 |
Interest gains reserve | 0 | 0 |
Expense gains reserve | 0 | 0 |
Long term duration dividend reserve | 0 | 0 |
Reserve for policyholder's profit dividend | 0 | 0 |
Reserve for losses on dividend insurance contract | 0 | 0 |
Policy reserve, total | 39,123 | 43,078 |
Pure protection | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 21,912 | 24,422 |
Guarantee reserve | 0 | 0 |
Unearned premium reserve | 291 | 506 |
Reserve for outstanding claims | 16,858 | 18,089 |
Interest rate difference guarantee reserve | 0 | 0 |
Mortality gains reserve | 2 | 3 |
Interest gains reserve | 0 | 0 |
Expense gains reserve | 0 | 0 |
Long term duration dividend reserve | 0 | 0 |
Reserve for policyholder's profit dividend | 0 | 0 |
Reserve for losses on dividend insurance contract | 0 | 0 |
Policy reserve, total | 39,063 | 43,020 |
Savings | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 60 | 58 |
Guarantee reserve | 0 | 0 |
Unearned premium reserve | 0 | 0 |
Reserve for outstanding claims | 0 | 0 |
Interest rate difference guarantee reserve | 0 | 0 |
Mortality gains reserve | 0 | 0 |
Interest gains reserve | 0 | 0 |
Expense gains reserve | 0 | 0 |
Long term duration dividend reserve | 0 | 0 |
Reserve for policyholder's profit dividend | 0 | 0 |
Reserve for losses on dividend insurance contract | 0 | 0 |
Policy reserve, total | ₩ 60 | ₩ 58 |
Reinsurance credit risk (Detail
Reinsurance credit risk (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Reinsurance credit risk | ||
Reinsurance credit risk [Line Items] | ||
Reinsurance assets | ₩ 48,262 | ₩ 4,073 |
Reinsurance account receivable | 68,607 | 8,014 |
AAA | ||
Reinsurance credit risk [Line Items] | ||
Reinsurance assets | 11,477 | 0 |
Reinsurance account receivable | 18,192 | 0 |
AA- to AA+ | ||
Reinsurance credit risk [Line Items] | ||
Reinsurance assets | 34,498 | 2,451 |
Reinsurance account receivable | 46,302 | 4,416 |
A- to A+ | ||
Reinsurance credit risk [Line Items] | ||
Reinsurance assets | 2,287 | 1,622 |
Reinsurance account receivable | ₩ 4,113 | ₩ 3,598 |
Income or expenses on insurance
Income or expenses on insurance (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Insurance income: | ||||
Premium income | ₩ 7,386,854 | ₩ 4,348,745 | ₩ 4,550,277 | |
Reinsurance income | 146,564 | 15,222 | 10,532 | |
Separate account income | 36,007 | 34,771 | 38,999 | |
Insurance Income total | 7,569,425 | 4,398,738 | 4,599,808 | |
Insurance expenses: | ||||
Claims paid | (5,436,069) | (2,549,147) | (2,213,285) | |
Reinsurance premium expenses | (165,979) | (18,482) | (13,220) | |
Provision for policy reserves | [1] | (1,724,816) | (1,694,716) | (2,147,139) |
Separate account expenses | (36,007) | (34,770) | (38,999) | |
Discount charge | (657) | (669) | (632) | |
Acquisition costs | (805,508) | (454,479) | (543,752) | |
Collection expenses | (19,049) | (16,046) | (15,716) | |
Deferred acquisition costs | 495,534 | 283,665 | 336,851 | |
Amortization of deferred acquisition costs | (373,800) | (385,793) | (423,955) | |
Insurance expenses total | (8,066,351) | (4,870,437) | (5,059,847) | |
Net loss on insurance | ₩ (496,926) | ₩ (471,699) | ₩ (460,039) | |
[1] | Interest expenses on savings insurance contracts are included. (Accumulated W 960,927 million as of December 31, 2017, accumulated W964,816 million as of December 31, 2018 and accumulated W1,907,954 million as of December 31, 2019) |
Maturity of premium reserve (De
Maturity of premium reserve (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | ₩ 28,953,715 | ₩ 8,175,878 |
Interest rate linked | 21,160,257 | 16,782,695 |
Ending balance | 50,113,972 | 24,958,573 |
Less than 1 year | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 845,304 | 111,102 |
Interest rate linked | 213,892 | 195,843 |
Ending balance | 1,059,196 | 306,945 |
1 ~ 3 Years | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 2,079,125 | 247,619 |
Interest rate linked | 329,647 | 922,832 |
Ending balance | 2,408,772 | 1,170,451 |
3 ~ 7 Years | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 2,118,652 | 741,222 |
Interest rate linked | 1,032,366 | 1,247,871 |
Ending balance | 3,151,018 | 1,989,093 |
7 ~ 10 Years | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 941,413 | 502,572 |
Interest rate linked | 572,153 | 343,562 |
Ending balance | 1,513,566 | 846,134 |
10 ~ 20 Years | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 2,236,313 | 1,288,815 |
Interest rate linked | 2,058,859 | 1,500,893 |
Ending balance | 4,295,172 | 2,789,708 |
More than 20 Years | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 20,732,908 | 5,284,548 |
Interest rate linked | 16,953,340 | 12,571,694 |
Ending balance | ₩ 37,686,248 | ₩ 17,856,242 |
The result of liability adequac
The result of liability adequacy test (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Shinhan Life Insurance Co., Ltd. | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | ₩ 22,666,981 | ₩ 21,608,828 | |
LAT base | [1] | 17,671,115 | 17,122,385 |
Premium loss (surplus) | (4,995,866) | (4,486,443) | |
Shinhan Life Insurance Co., Ltd. | Participating | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 1,495,695 | 1,449,476 | |
LAT base | [1] | 2,250,638 | 2,262,272 |
Premium loss (surplus) | 754,943 | 812,796 | |
Shinhan Life Insurance Co., Ltd. | Participating | Fixed interest | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 595,317 | 589,618 | |
LAT base | [1] | 1,248,489 | 1,322,481 |
Premium loss (surplus) | 653,172 | 732,863 | |
Shinhan Life Insurance Co., Ltd. | Participating | Variable interest | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 900,378 | 859,858 | |
LAT base | [1] | 1,002,149 | 939,791 |
Premium loss (surplus) | 101,771 | 79,933 | |
Shinhan Life Insurance Co., Ltd. | Non-Participating | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 21,171,286 | 20,159,352 | |
LAT base | [1] | 15,420,477 | 14,860,113 |
Premium loss (surplus) | (5,750,809) | (5,299,239) | |
Shinhan Life Insurance Co., Ltd. | Non-Participating | Fixed interest | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 6,608,221 | 6,009,771 | |
LAT base | [1] | 3,079,715 | 2,822,160 |
Premium loss (surplus) | (3,528,506) | (3,187,611) | |
Shinhan Life Insurance Co., Ltd. | Non-Participating | Variable interest | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 14,563,065 | 14,149,581 | |
LAT base | [1] | 12,340,762 | 12,037,953 |
Premium loss (surplus) | (2,222,303) | ₩ (2,111,628) | |
Orange Life Insurance Co., Ltd. | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 20,115,307 | ||
LAT base | [1] | 13,568,397 | |
Premium loss (surplus) | (6,546,910) | ||
Orange Life Insurance Co., Ltd. | Participating | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 1,850,852 | ||
LAT base | [1] | 2,186,682 | |
Premium loss (surplus) | 335,830 | ||
Orange Life Insurance Co., Ltd. | Participating | Fixed interest | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 716,607 | ||
LAT base | [1] | 644,715 | |
Premium loss (surplus) | (71,892) | ||
Orange Life Insurance Co., Ltd. | Participating | Variable interest | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 1,134,245 | ||
LAT base | [1] | 1,541,967 | |
Premium loss (surplus) | 407,722 | ||
Orange Life Insurance Co., Ltd. | Non-Participating | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 18,264,455 | ||
LAT base | [1] | 11,381,715 | |
Premium loss (surplus) | (6,882,740) | ||
Orange Life Insurance Co., Ltd. | Non-Participating | Fixed interest | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 9,296,542 | ||
LAT base | [1] | 4,629,266 | |
Premium loss (surplus) | (4,667,276) | ||
Orange Life Insurance Co., Ltd. | Non-Participating | Variable interest | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | 9,236,731 | ||
LAT base | [1] | 8,635,022 | |
Premium loss (surplus) | (601,709) | ||
Orange Life Insurance Co., Ltd. | Non-Participating | Variable type | |||
The result of liability adequacy test [Line Items] | |||
Provisions for test | (268,818) | ||
LAT base | [1] | (1,882,573) | |
Premium loss (surplus) | ₩ (1,613,755) | ||
[1] | It is recalculated in accordance with the revised discount rate calculation rules for the year December 31, 2019. |
Sensitivity analysis of LAT (De
Sensitivity analysis of LAT (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Shinhan Life Insurance Co., Ltd. | ||
Sensitivity analysis of LAT [Line Items] | ||
Discount rate increased by 0.5% | ₩ (1,582,746) | ₩ (1,610,988) |
Discount rate decreased by 0.5% | 1,906,134 | 1,938,357 |
Operating expense increased by 10% | 292,246 | 229,339 |
Mortality rate increased by 10% | 873,184 | 837,453 |
Mortality rate increased by 5% | 438,685 | 420,774 |
Surrender ratio increased by 10% | 373,062 | ₩ 291,806 |
Orange Life Insurance Co., Ltd. | ||
Sensitivity analysis of LAT [Line Items] | ||
Discount rate increased by 0.5% | (1,203,136) | |
Discount rate decreased by 0.5% | 1,686,867 | |
Operating expense increased by 10% | 245,181 | |
Mortality rate increased by 10% | 877,624 | |
Mortality rate increased by 5% | 440,025 | |
Surrender ratio increased by 10% | ₩ 421,767 |
Other liabilities (Details)
Other liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Other liabilities [Abstract] | ||
Lease liabilities | ₩ 1,104,259 | ₩ 0 |
Accounts payable | 11,894,764 | 9,748,168 |
Accrued expenses | 3,502,538 | 3,267,188 |
Dividend payable | 31,599 | 49,486 |
Advance receipts | 173,850 | 131,386 |
Unearned income | 294,710 | 236,827 |
Withholding value-added tax and other taxes | 720,053 | 547,097 |
Securities deposit received | 1,903,119 | 651,153 |
Foreign exchange remittances pending | 243,532 | 225,956 |
Domestic exchange remittances pending | 1,452,955 | 1,115,939 |
Borrowing from trust account | 5,350,285 | 2,999,445 |
Due to agencies | 744,660 | 779,473 |
Deposits for subscription | 60,500 | 76,019 |
Separate account liabilities | 8,700,695 | 2,845,380 |
Sundry liabilities | 1,968,823 | 2,496,169 |
Other | 151,056 | 50,881 |
Present value discount account | (59,840) | (20,888) |
Other liabilities | ₩ 38,237,558 | ₩ 25,199,679 |
Equity (Details)
Equity (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Capital stock: | ||||
Common stock | ₩ 2,370,998 | ₩ 2,370,998 | ||
Preferred stock | [1] | 361,465 | 274,055 | |
Capital stock | 2,732,463 | 2,645,053 | ||
Hybrid bonds | 1,731,235 | 1,531,759 | ||
Capital surplus: | ||||
Share premium | [2] | 10,155,150 | 9,494,769 | |
Others | 410,203 | 400,719 | ||
Capital surplus | 10,565,353 | 9,895,488 | ||
Capital adjustments | [3] | (1,116,770) | (552,895) | ₩ (398,035) |
Accumulated other comprehensive income, net of tax: | ||||
Gain on financial assets at fair value through other comprehensive income | 306,470 | 2,958 | ||
Gain (Loss) on financial assets at fair value through profit or loss (overlay approach) | 71,621 | (79,057) | ||
Equity in other comprehensive income of associates | 8,177 | 4,883 | ||
Foreign currency translation adjustments for foreign operations | (217,465) | (321,853) | ||
Net loss from cash flow hedges | (33,711) | (17,751) | ||
Other comprehensive income of separate account | 14,539 | 4,112 | ||
Actuarial gains (losses) | (401,532) | (346,682) | ||
Changes in own credit risk on financial liabilities designated under fair value option | (8,255) | 170 | ||
Accumulated other comprehensive income, net of tax | (260,156) | (753,220) | ||
Retained earnings | [4],[5],[6] | 25,525,821 | 22,959,440 | |
Non-controlling interests | [7],[8] | 2,752,435 | 925,805 | |
Total equity | ₩ 41,930,381 | ₩ 36,651,430 | ||
[1] | For the year ended December 31, 2019, W750,000 million scale of convertible preferred share was issued. Investors may claim the conversion after one year from the date of issue to the day before the fourth year from the date of issue and convertible shares not converted until the fourth year from the date of issue will be automatically converted on the day of the fourth year from the date of issue. | |||
[2] | For the year ended December 31, 2019, W750,000 million scale of convertible preferred share was issued. Investors may claim the conversion after one year from the date of issue to the day before the fourth year from the date of issue and convertible shares not converted until the fourth year from the date of issue will be automatically converted on the day of the fourth year from the date of issue. | |||
[3] | The Group acquired treasury stocks through a treasury stock trust for the years ended December 31, 2018 and 2019 and has recognized the consideration paid in equity, directly. The Group entered into a shareholders' agreement to acquire additional shares in the Asia Trust Co., Ltd., resulting in decrease of W125,829 million in capital adjustment for the year ended December 31, 2019. | |||
[4] | As of December 31, 2018 and 2019, profits reserved by the Group as of Article 53 of the Financial Holding Companies Act amounted to W2,068,190 million and W2,191,677 million, respectively. | |||
[5] | As of December 31, 2018 and 2019, the regulatory reserves for loan losses the Group appropriated in retained earnings are W7,572 million and W8,728 million, respectively. | |||
[6] | As of December 31, 2019, profit dividends within retained earnings of subsidiaries of the Group subject to a restricted dividend in accordance with laws, etc. are amounted to W6,419,934 million. | |||
[7] | As of December 31, 2018 and 2019, the total amounts of hybrid bonds that Shinhan Bank, Jeju Bank and Shinhan Capital have recognized as non-controlling interests were W748,497 million and W1,147,635 million, respectively. And, as of December 31, 2018 and 2019, the amounts of dividends paid for the hybrid bonds by Shinhan Bank, Jeju Bank, and Shinhan Capital, W27,546 million and W36,729 million, respectively, are allocated to the net income of non-controlling interest. | |||
[8] | The non-controlling interest of W1,250,333 million increased due to business combination with Orange Life Insurance Co.,Ltd and Asia Trust Co., Ltd. for the year ended December 31, 2019. (Note 50) |
Capital stock of the Group (Det
Capital stock of the Group (Details) - ₩ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Common stocks [Member] | ||
Capital stock of the Group [Line Items] | ||
Number of authorized shares | 1,000,000,000 | 1,000,000,000 |
Par value per share in won | ₩ 5,000 | ₩ 5,000 |
Number of issued stocks outstanding | 474,199,587 | 474,199,587 |
Preferred stocks [Member] | ||
Capital stock of the Group [Line Items] | ||
Number of authorized shares | 1,000,000,000 | |
Par value per share in won | ₩ 5,000 | |
Number of issued stocks outstanding | 17,482,000 |
Hybrid bond (Details)
Hybrid bond (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Hybrid bond [Line Items] | ||
Currency | KRW | KRW |
Amount | ₩ 1,731,235 | ₩ 1,531,759 |
2nd | ||
Hybrid bond [Line Items] | ||
Currency | KRW | KRW |
Amount | ₩ 199,455 | ₩ 199,455 |
Issue date | Jun. 25, 2015 | Jun. 25, 2015 |
Maturity date | Jun. 25, 2045 | Jun. 25, 2045 |
Interest rate (%) | 4.38% | 4.38% |
3rd | ||
Hybrid bond [Line Items] | ||
Currency | KRW | KRW |
Amount | ₩ 134,683 | ₩ 134,683 |
Issue date | Sep. 15, 2017 | Sep. 15, 2017 |
Interest rate (%) | 3.77% | 3.77% |
4th | ||
Hybrid bond [Line Items] | ||
Currency | KRW | KRW |
Amount | ₩ 89,783 | ₩ 89,783 |
Issue date | Sep. 15, 2017 | Sep. 15, 2017 |
Interest rate (%) | 4.25% | 4.25% |
5th | ||
Hybrid bond [Line Items] | ||
Currency | KRW | KRW |
Amount | ₩ 134,678 | ₩ 134,678 |
Issue date | Apr. 13, 2018 | Apr. 13, 2018 |
Interest rate (%) | 4.08% | 4.08% |
6th | ||
Hybrid bond [Line Items] | ||
Currency | KRW | KRW |
Amount | ₩ 14,955 | ₩ 14,955 |
Issue date | Apr. 13, 2018 | Apr. 13, 2018 |
Interest rate (%) | 4.56% | 4.56% |
7th | ||
Hybrid bond [Line Items] | ||
Currency | KRW | KRW |
Amount | ₩ 398,679 | ₩ 398,679 |
Issue date | Aug. 29, 2018 | Aug. 29, 2018 |
Interest rate (%) | 4.15% | 4.15% |
8th | ||
Hybrid bond [Line Items] | ||
Currency | USD | USD |
Amount | ₩ 559,526 | ₩ 559,526 |
Issue date | Aug. 13, 2018 | Aug. 13, 2018 |
Interest rate (%) | 5.88% | 5.88% |
9th | ||
Hybrid bond [Line Items] | ||
Currency | KRW | |
Amount | ₩ 199,476 | |
Issue date | Jun. 28, 2019 | |
Interest rate (%) | 3.27% |
Capital adjustments (Details)
Capital adjustments (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Capital adjustments [Abstract] | ||||
Beginning balance | [1] | ₩ (552,895) | ₩ (398,035) | |
Acquisition of treasury stock | [2] | (444,077) | (155,923) | ₩ 0 |
Acquisition commitment amount for subsidiaries' remaining shares | (125,830) | 0 | ||
Other transactions with owners | 6,032 | 1,063 | ||
Ending balance | [1] | ₩ (1,116,770) | ₩ (552,895) | ₩ (398,035) |
[1] | The Group acquired treasury stocks through a treasury stock trust for the years ended December 31, 2018 and 2019 and has recognized the consideration paid in equity, directly. The Group entered into a shareholders' agreement to acquire additional shares in the Asia Trust Co., Ltd., resulting in decrease of W125,829 million in capital adjustment for the year ended December 31, 2019. | |||
[2] | The Group entered into a treasury stock trust agreement with Samsung Securities Co., Ltd., and acquired treasury stocks. |
Accumulated other comprehensive
Accumulated other comprehensive income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | ₩ (753,220) | ₩ (806,745) |
Change due to fair value | 743,697 | 187,363 |
Reclassification: | ||
Change due to impairment or disposal | (23,281) | 28,915 |
Effect of hedge accounting | (75,020) | (92,272) |
Hedging | (9) | 22,257 |
Effects from exchange rate fluctuations | 148,192 | 48,060 |
Remeasurements of the defined benefit plans | (75,595) | (128,139) |
Deferred income taxes | (152,074) | (14,892) |
Transfer To Other Account | 5,860 | 2,645 |
Non-controlling interests | (78,706) | (412) |
Ending balance | (260,156) | (753,220) |
Items that are or may be reclassified to profit or loss | ||
Reclassification: | ||
Ending balance | 76,505 | |
Gain(loss) on financial asset at fair value through other comprehensive income | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (51,300) | (211,003) |
Change due to fair value | 491,953 | 225,173 |
Reclassification: | ||
Change due to impairment or disposal | (23,281) | 15,812 |
Effect of hedge accounting | 0 | 0 |
Hedging | (731) | (2,365) |
Effects from exchange rate fluctuations | 0 | 1,733 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | (115,856) | (79,345) |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | (67,457) | (1,305) |
Ending balance | 233,328 | (51,300) |
Gain (loss) on valuation of financial asset measured at FVTPL (overlay approach) | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (79,057) | (24,724) |
Change due to fair value | 225,706 | (74,942) |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | 0 | 0 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | (62,739) | 20,609 |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | (12,289) | 0 |
Ending balance | 71,621 | (79,057) |
Equity in other comprehensive income of associates | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | 4,891 | (2,516) |
Change due to fair value | 3,353 | (2,327) |
Reclassification: | ||
Change due to impairment or disposal | 0 | 13,103 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | 0 | 0 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | (51) | (3,369) |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 0 | 0 |
Ending balance | 8,193 | 4,891 |
Foreign currency translation adjustments for foreign operations | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (321,853) | (342,318) |
Change due to fair value | 0 | 0 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | (49,361) | (35,879) |
Effects from exchange rate fluctuations | 147,899 | 45,904 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | 7,233 | 9,958 |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | (1,383) | 482 |
Ending balance | (217,465) | (321,853) |
Net loss from cash flow hedges | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (17,751) | 2,441 |
Change due to fair value | 0 | 0 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | (75,020) | (92,272) |
Hedging | 50,083 | 60,501 |
Effects from exchange rate fluctuations | 0 | 0 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | 6,348 | 11,579 |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 2,629 | 0 |
Ending balance | (33,711) | (17,751) |
Other comprehensive income of separate account | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | 4,112 | (4,564) |
Change due to fair value | 14,382 | 11,967 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | 0 | 0 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | (3,955) | (3,291) |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 0 | 0 |
Ending balance | 14,539 | 4,112 |
Items that will never be reclassified to profit or loss | ||
Reclassification: | ||
Ending balance | (336,661) | |
Remeasurements of the defined benefit plans | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (346,682) | (253,995) |
Change due to fair value | 0 | 0 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | 0 | 0 |
Remeasurements of the defined benefit plans | (75,595) | (128,139) |
Deferred income taxes | 20,951 | 35,041 |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | (206) | 411 |
Ending balance | (401,532) | (346,682) |
Equity in other comprehensive income of associates | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (8) | (46) |
Change due to fair value | (11) | 39 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | 0 | 0 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | 3 | (11) |
Transfer To Other Account | 0 | 10 |
Non-controlling interests | 0 | 0 |
Ending balance | (16) | (8) |
Gain (loss) on financial asset at fair value through other comprehensive income | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | 54,258 | 31,533 |
Change due to fair value | 19,935 | 25,077 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | 293 | 423 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | (7,204) | (5,410) |
Transfer To Other Account | 5,860 | 2,635 |
Non-controlling interests | 0 | 0 |
Ending balance | 73,142 | 54,258 |
Changes in own credit risk on financial liabilities designated under fair value option | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | 170 | (1,553) |
Change due to fair value | (11,621) | 2,376 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | 0 | 0 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | 3,196 | (653) |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 0 | 0 |
Ending balance | ₩ (8,255) | ₩ 170 |
Appropriation of retained earni
Appropriation of retained earnings (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Appropriation of retained earnings [Line Items] | ||||
Balance at beginning of year | [1],[2],[3] | ₩ 22,959,440 | ||
Dividends to hybrid bonds | (61,993) | ₩ (40,357) | ₩ (17,678) | |
Net income | 3,642,384 | 3,198,265 | 2,949,205 | |
Unappropriated retained earnings to be carried over to subsequent year | [1],[2],[3] | 25,525,821 | 22,959,440 | |
Parent Company only | ||||
Appropriation of retained earnings [Line Items] | ||||
Balance at beginning of year | 5,184,339 | 4,867,521 | ||
Net effect due to change in accounting policy | 0 | (23) | ||
Dividends to hybrid bonds | (61,993) | (40,357) | ||
Net income | 1,129,173 | 1,234,883 | 754,727 | |
Unappropriated retained earnings | 6,251,519 | 6,062,024 | ||
Legal reserve | (112,917) | (123,488) | ||
Dividends on common stocks paid | (851,587) | (753,041) | ||
Dividends on preferred stocks paid | (32,342) | 0 | ||
Regulatory reserve for loan losses | (3,260) | (1,156) | ||
Appropriation of retained earnings | (1,000,106) | (877,685) | ||
Unappropriated retained earnings to be carried over to subsequent year | ₩ 5,251,413 | ₩ 5,184,339 | ₩ 4,867,521 | |
Date of appropriation | Mar. 26, 2020 | Mar. 27, 2019 | ||
[1] | As of December 31, 2018 and 2019, profits reserved by the Group as of Article 53 of the Financial Holding Companies Act amounted to W2,068,190 million and W2,191,677 million, respectively. | |||
[2] | As of December 31, 2018 and 2019, the regulatory reserves for loan losses the Group appropriated in retained earnings are W7,572 million and W8,728 million, respectively. | |||
[3] | As of December 31, 2019, profit dividends within retained earnings of subsidiaries of the Group subject to a restricted dividend in accordance with laws, etc. are amounted to W6,419,934 million. |
Changes in regulatory reserve f
Changes in regulatory reserve for loan losses (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Changes in regulatory reserve for loan losses [Abstract] | ||
Beginning balance | ₩ 2,844,690 | ₩ 2,885,018 |
IFRS9 adoption | (388,551) | |
Business Combination | 25,608 | 0 |
Planned regulatory reversal of loan losses | 290,872 | 348,223 |
Ending balance | ₩ 3,161,170 | ₩ 2,844,690 |
Profit attributable to equity h
Profit attributable to equity holders of Shinhan Financial Group and earnings per share after factoring in regulatory reserve for loan losses (Details) - KRW (₩) ₩ / shares in Units, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Profit attributable to equity holders of Shinhan Financial Group and earnings per share after factoring in regulatory reserve for loan losses [Abstract] | ||||
Profit (loss), attributable to owners of parent | ₩ 3,403,497 | ₩ 3,156,722 | ₩ 2,918,816 | |
Provision for regulatory reserve for loan losses | [1] | (292,728) | (348,127) | |
Profit attributable to equity holders of Shinhan Financial Group after adjusted for regulatory reserve | ₩ 3,110,769 | ₩ 2,808,595 | ||
Basic and diluted earnings per share after adjusted for regulatory reserve in won | [2] | ₩ 6,387 | ₩ 5,844 | |
[1] | The increase in reserve for credit losses, W25,608 million, due to the business combination with Orange Life insurance and Asia Trust. during the year is excluded. | |||
[2] | Dividends for hybrid bonds are deducted. |
Acquisition of treasury stock (
Acquisition of treasury stock (Details) - KRW (₩) ₩ in Millions, shares in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Acquisition Of Treasury Stock [Line Items] | ||||
Acquisition of treasury stock | [1] | ₩ 444,077 | ₩ 155,923 | ₩ 0 |
Carrying value | ||||
Acquisition Of Treasury Stock [Line Items] | ||||
Beginning balance | 155,923 | |||
Acquisition of treasury stock | [1] | 444,077 | 155,923 | |
Disposal of treasury stock | 0 | |||
Ending balance | 600,000 | 155,923 | ||
Number of share | ||||
Acquisition Of Treasury Stock [Line Items] | ||||
Beginning balance | 3,648,659 | |||
Disposal of treasury stock | ₩ 0 | ₩ 0 | ||
Number of treasury shares acquired | 10,233,403 | 3,648,659 | ||
Ending balance | ₩ 13,882,062 | ₩ 3,648,659 | ||
[1] | The Group entered into a treasury stock trust agreement with Samsung Securities Co., Ltd., and acquired treasury stocks. |
Details of dividends recognized
Details of dividends recognized as distributions to stockholders (Details) - KRW (₩) ₩ / shares in Units, ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Common stocks [Member] | ||
Details of dividends recognized as distributions to stockholders [Line Items] | ||
Total number of shares issued and outstanding | 474,199,587 | 474,199,587 |
Par value per share in won | ₩ 5,000 | ₩ 5,000 |
Common stocks: | ||
Dividend per share in won | ₩ 1,850 | ₩ 1,600 |
Dividends | ₩ 851,587 | ₩ 753,041 |
Preferred stocks: | ||
Dividend rate per share | 37.00% | 32.00% |
Preferred stocks [Member] | ||
Details of dividends recognized as distributions to stockholders [Line Items] | ||
Total number of shares issued and outstanding | 17,482,000 | |
Par value per share in won | ₩ 5,000 | |
Preferred stocks: | ||
Dividend per share in won | ₩ 1,850 | |
Dividends | ₩ 32,342 | |
Dividend rate per share | 37.00% |
Dividend for hybrid bond (Detai
Dividend for hybrid bond (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Dividend for hybrid bond [Abstract] | |||
Amount of hybrid bond | ₩ 1,738,150 | ₩ 1,538,150 | |
Maximum Interest rate | 5.88% | 5.88% | |
Minimum Interest rate | 3.27% | 3.77% | |
Dividends | ₩ 61,993 | ₩ 40,357 | ₩ 17,678 |
Net interest income (Details)
Net interest income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income: | |||
Cash and deposits at amortized cost | ₩ 210,415 | ₩ 155,075 | |
Cash and due from banks | ₩ 167,793 | ||
Deposits at FVTPL | 31,506 | 33,845 | |
Securities at FVTPL | 740,378 | 623,651 | |
Trading assets | 489,836 | ||
Financial assets designated at fair value through profit or loss | 57,899 | ||
Securities at FVOCI | 1,077,995 | 759,301 | |
Available-for-sale financial assets | 671,912 | ||
Securities at amortized cost | 1,061,262 | 730,382 | |
Held-to-maturity financial assets | 651,107 | ||
Loans at amortized cost | 12,435,302 | 11,158,558 | |
Loans at FVTPL | 56,961 | 23,110 | |
Loans | 9,673,635 | ||
Others | 93,543 | 88,534 | 86,472 |
Interest income | 15,707,362 | 13,572,456 | 11,798,654 |
Interest expense: | |||
Deposits | (3,644,632) | (3,091,659) | (2,482,415) |
Borrowings | (551,416) | (468,068) | (352,069) |
Debt securities issued | (1,666,257) | (1,336,840) | (1,085,366) |
Others | (107,093) | (95,800) | (35,851) |
Interest expense | (5,969,398) | (4,992,367) | (3,955,701) |
Net interest income | ₩ 9,737,964 | ₩ 8,580,089 | ₩ 7,842,953 |
Net fees and commission incom_2
Net fees and commission income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Fees and commission income: | ||||
Credit placement fees | ₩ 66,666 | ₩ 62,766 | ₩ 59,133 | |
Commission received as electronic charge receipt | 151,584 | 146,309 | 142,755 | |
Brokerage fees | 353,382 | 412,165 | 373,108 | |
Commission received as agency | 140,484 | 120,508 | 129,460 | |
Investment banking fees | 151,031 | 91,273 | 66,191 | |
Commission received in foreign exchange activities | 244,325 | 214,395 | 197,705 | |
Asset management fees | 307,167 | 235,275 | 190,802 | |
Credit card fees | 1,234,239 | 1,360,322 | 2,369,745 | |
Operating lease fees | [1] | 142,025 | 82,141 | 28,033 |
Others | 766,110 | 570,102 | 488,023 | |
Fees and commission income | 3,557,013 | 3,295,256 | 4,044,955 | |
Fees and commission expense: | ||||
Credit-related fee | (42,023) | (36,817) | (35,665) | |
Credit card fees | (915,521) | (944,533) | (1,988,826) | |
Others | (458,950) | (374,909) | (309,510) | |
Fees and commission expense | (1,416,494) | (1,356,259) | (2,334,001) | |
Net fees and commission income | ₩ 2,140,519 | ₩ 1,938,997 | ₩ 1,710,954 | |
[1] | Among operating lease fees recognized during the current period, there is no variable lease fee income which does not vary by index or rate. |
Dividend income (Details)
Dividend income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Details of Dividend income [Line Items] | |||
Dividend income | ₩ 82,158 | ₩ 87,826 | ₩ 257,306 |
Securities at FVTPL | |||
Details of Dividend income [Line Items] | |||
Dividend income | 65,572 | 70,955 | |
Securities at fair value through other comprehensive income | |||
Details of Dividend income [Line Items] | |||
Dividend income | ₩ 16,586 | ₩ 16,871 | |
Trading assets | |||
Details of Dividend income [Line Items] | |||
Dividend income | 57,615 | ||
Available-for-sale financial assets | |||
Details of Dividend income [Line Items] | |||
Dividend income | ₩ 199,691 |
Net gain (loss) on financial _7
Net gain (loss) on financial instruments measured at fair value through profit or loss (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net gain (loss) on financial instruments measured at fair value through profit or loss [Line Items] | |||
Net gain (loss) on financial instruments at fair value through profit or loss | ₩ 1,385,482 | ₩ 420,026 | |
Due from banks at FVTPL | |||
Net gain (loss) on financial instruments measured at fair value through profit or loss [Line Items] | |||
Gain (loss) on valuation | 87,374 | (61,848) | |
Gain (loss) on sale | 13,400 | 0 | |
Gain (loss) on valuation of debt securities | 0 | 0 | |
Gain (loss) on sale of debt securities | 0 | 0 | |
Other gains (losses) of debt securities | 0 | 0 | |
Gain (loss) on valuation of equity securities | 0 | 0 | |
Gain (loss) on sale of equity securities | 0 | 0 | |
Gain (loss) on valuation of other securities | 0 | 0 | |
Gain (loss) on sale of other securities | 0 | 0 | |
Gain (loss) on transaction of derivatives | 0 | 0 | |
Gain on valuation of derivatives | 0 | 0 | |
Loss on valuation of derivatives | 0 | 0 | |
Net gain (loss) on financial instruments at fair value through profit or loss | 100,774 | (61,848) | |
Loan receivables measured at FVTPL | |||
Net gain (loss) on financial instruments measured at fair value through profit or loss [Line Items] | |||
Gain (loss) on valuation | (248,032) | 916 | |
Gain (loss) on sale | 10,395 | 9,133 | |
Gain (loss) on valuation of debt securities | 0 | 0 | |
Gain (loss) on sale of debt securities | 0 | 0 | |
Other gains (losses) of debt securities | 0 | 0 | |
Gain (loss) on valuation of equity securities | 0 | 0 | |
Gain (loss) on sale of equity securities | 0 | 0 | |
Gain (loss) on valuation of other securities | 0 | 0 | |
Gain (loss) on sale of other securities | 0 | 0 | |
Gain (loss) on transaction of derivatives | 0 | 0 | |
Gain on valuation of derivatives | 0 | 0 | |
Loss on valuation of derivatives | 0 | 0 | |
Net gain (loss) on financial instruments at fair value through profit or loss | (237,637) | 10,049 | |
Securities at FVTPL | |||
Net gain (loss) on financial instruments measured at fair value through profit or loss [Line Items] | |||
Gain (loss) on valuation | 0 | 0 | |
Gain (loss) on sale | 0 | 0 | |
Gain (loss) on valuation of debt securities | 137,181 | 111,029 | |
Gain (loss) on sale of debt securities | 125,431 | 78,718 | |
Other gains (losses) of debt securities | 297,024 | 223,731 | |
Gain (loss) on valuation of equity securities | 141,246 | 286,801 | |
Gain (loss) on sale of equity securities | 183,969 | (275,356) | |
Gain (loss) on valuation of other securities | 28,803 | 19,086 | |
Gain (loss) on sale of other securities | 0 | 0 | |
Gain (loss) on transaction of derivatives | 0 | 0 | |
Gain on valuation of derivatives | 0 | 0 | |
Loss on valuation of derivatives | 0 | 0 | |
Net gain (loss) on financial instruments at fair value through profit or loss | 913,654 | 444,009 | |
Financial liabilities at fair value through profit or loss | |||
Net gain (loss) on financial instruments measured at fair value through profit or loss [Line Items] | |||
Gain (loss) on valuation | 0 | 0 | |
Gain (loss) on sale | 0 | 0 | |
Gain (loss) on valuation of debt securities | (16,810) | (115,667) | |
Gain (loss) on sale of debt securities | (35,710) | 268,932 | |
Other gains (losses) of debt securities | 0 | 0 | |
Gain (loss) on valuation of equity securities | 0 | 0 | |
Gain (loss) on sale of equity securities | 0 | 0 | |
Gain (loss) on valuation of other securities | (91,025) | (14,892) | |
Gain (loss) on sale of other securities | 4,169 | 1,394 | |
Gain (loss) on transaction of derivatives | 0 | 0 | |
Gain on valuation of derivatives | 0 | 0 | |
Loss on valuation of derivatives | 0 | 0 | |
Net gain (loss) on financial instruments at fair value through profit or loss | (139,376) | 139,767 | |
Derivatives | |||
Net gain (loss) on financial instruments measured at fair value through profit or loss [Line Items] | |||
Gain (loss) on valuation | 0 | 0 | |
Gain (loss) on sale | 0 | 0 | |
Gain (loss) on valuation of debt securities | 0 | 0 | ₩ 0 |
Gain (loss) on sale of debt securities | 0 | 0 | 0 |
Other gains (losses) of debt securities | 0 | 0 | |
Gain (loss) on valuation of equity securities | 0 | 0 | 0 |
Gain (loss) on sale of equity securities | 0 | 0 | 0 |
Gain (loss) on valuation of other securities | 0 | 0 | 0 |
Gain (loss) on sale of other securities | 0 | 0 | 0 |
Gain (loss) on transaction of derivatives | 359,187 | 179,928 | 612,670 |
Gain on valuation of derivatives | 388,880 | 0 | ₩ 369,225 |
Loss on valuation of derivatives | 0 | (291,879) | |
Net gain (loss) on financial instruments at fair value through profit or loss | ₩ 748,067 | ₩ (111,951) |
Net trading income (loss) (Deta
Net trading income (loss) (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net trading income (loss) [Line Items] | |||
Net trading income (loss) | ₩ 963,223 | ||
Trading assets | |||
Net trading income (loss) [Line Items] | |||
Gain (loss) on valuation of debt securities | (90,442) | ||
Gain (loss) on valuation of equity securities | 187,442 | ||
Gain (loss) on valuation of other securities | 5,782 | ||
Gain (loss) on sale of debt securities | (93,528) | ||
Gain (loss) on sale of equity securities | 128,118 | ||
Gain (loss) on sale of other securities | 0 | ||
Gain (loss) on transaction of derivatives | 0 | ||
Net trading income (loss) | 137,372 | ||
Trading liabilities | |||
Net trading income (loss) [Line Items] | |||
Gain (loss) on valuation of debt securities | (138,134) | ||
Gain (loss) on valuation of equity securities | 0 | ||
Gain (loss) on valuation of other securities | 260 | ||
Gain (loss) on sale of debt securities | (20,610) | ||
Gain (loss) on sale of equity securities | 0 | ||
Gain (loss) on sale of other securities | 2,440 | ||
Gain (loss) on transaction of derivatives | 0 | ||
Net trading income (loss) | (156,044) | ||
Derivatives | |||
Net trading income (loss) [Line Items] | |||
Gain (loss) on valuation of debt securities | ₩ 0 | ₩ 0 | 0 |
Gain (loss) on valuation of equity securities | 0 | 0 | 0 |
Gain (loss) on valuation of other securities | 0 | 0 | 0 |
Gain (loss) on sale of debt securities | 0 | 0 | 0 |
Gain (loss) on sale of equity securities | 0 | 0 | 0 |
Gain (loss) on sale of other securities | 0 | 0 | 0 |
Gain (loss) on transaction of derivatives | 359,187 | 179,928 | 612,670 |
Gain on valuation of derivatives | ₩ 388,880 | ₩ 0 | 369,225 |
Net trading income (loss) | ₩ 981,895 |
Net gain (loss) on financial _8
Net gain (loss) on financial instruments designated at fair value through profit or loss(IFRS9) (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net gain (loss) on financial instruments designated at fair value through profit or loss [Line Items] | |||
Net gain (loss) on financial instruments designated at fair value through profit or loss | ₩ (846,046) | ₩ (26,643) | |
Financial assets designated at fair value through profit or loss(IFRS9) | |||
Net gain (loss) on financial instruments designated at fair value through profit or loss [Line Items] | |||
Gain (loss) on sale of equity securities | 0 | (4,737) | ₩ 5,622 |
Gain (loss) on valuation Borrowings | 0 | 0 | 0 |
Loss on disposal and redemption of Borrowings | 0 | 0 | 0 |
Net gain (loss) on financial instruments designated at fair value through profit or loss | 0 | (4,737) | |
Financial liabilities designated at fair value through profit or loss(IFRS9) | |||
Net gain (loss) on financial instruments designated at fair value through profit or loss [Line Items] | |||
Gain (loss) on sale of equity securities | 0 | 0 | 0 |
Gain (loss) on valuation Borrowings | (33,871) | 382,667 | (100,685) |
Loss on disposal and redemption of Borrowings | (812,175) | (404,573) | ₩ (845,356) |
Net gain (loss) on financial instruments designated at fair value through profit or loss | ₩ (846,046) | ₩ (21,906) |
Net gain (loss) on financial _9
Net gain (loss) on financial instruments designated at fair value through profit or loss(IAS39) (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net gain (loss) on financial instruments designated at fair value through profit or loss(IAS39) [Line Items] | |||
Net gain (loss) on financial instruments designated at fair value through profit or loss | ₩ (1,059,826) | ||
Financial assets designated at fair value through profit or loss | |||
Net gain (loss) on financial instruments designated at fair value through profit or loss(IAS39) [Line Items] | |||
Gain (loss) on valuation of debt securities | (65,475) | ||
Loss on valuation of equity securities | (78,633) | ||
Gain (loss) on valuation of other securities | 13,020 | ||
Gain on sale and redemption of debt securities | 11,673 | ||
Gain on sale of equity securities | ₩ 0 | ₩ (4,737) | 5,622 |
Loss on disposal and redemption of other securities | 0 | ||
Dividend income of Equity securities | 51 | ||
Gain (loss) on valuation of Borrowings | 0 | 0 | 0 |
Loss on disposal and redemption of Borrowings | 0 | 0 | 0 |
Net gain (loss) on financial instruments designated at fair value through profit or loss | (113,742) | ||
Financial liabilities designated at FVTPL | |||
Net gain (loss) on financial instruments designated at fair value through profit or loss(IAS39) [Line Items] | |||
Gain (loss) on valuation of debt securities | 0 | ||
Loss on valuation of equity securities | 0 | ||
Gain (loss) on valuation of other securities | 0 | ||
Gain on sale and redemption of debt securities | 0 | ||
Gain on sale of equity securities | 0 | 0 | 0 |
Loss on disposal and redemption of other securities | (43) | ||
Dividend income of Equity securities | 0 | ||
Gain (loss) on valuation of Borrowings | (33,871) | 382,667 | (100,685) |
Loss on disposal and redemption of Borrowings | ₩ (812,175) | ₩ (404,573) | (845,356) |
Net gain (loss) on financial instruments designated at fair value through profit or loss | ₩ (946,084) |
Provision for allowance for c_3
Provision for allowance for credit loss on financial assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Provision for allowance for credit loss [Line Items] | ||
Allowance provided (reversed) for credit loss | ₩ (980,692) | ₩ (747,877) |
Loans at amortized cost net category | ||
Provision for allowance for credit loss [Line Items] | ||
Provision for (reversal of) allowance | (910,898) | (704,515) |
Allowance provided (reversed) for credit loss | (910,898) | (704,515) |
Others | ||
Provision for allowance for credit loss [Line Items] | ||
Provision for (reversal of) allowance | (33,945) | (24,070) |
Allowance provided (reversed) for credit loss | (33,945) | (24,070) |
Securities at fair value through other comprehensive income | ||
Provision for allowance for credit loss [Line Items] | ||
Provision for (reversal of) allowance | (5,787) | (12,066) |
Allowance provided (reversed) for credit loss | (5,787) | (12,066) |
Unused credit line and financial guarantee | ||
Provision for allowance for credit loss [Line Items] | ||
Provision for (reversal of) allowance | (29,519) | (4,826) |
Allowance provided (reversed) for credit loss | (29,519) | (4,826) |
Securities at amortized cost | ||
Provision for allowance for credit loss [Line Items] | ||
Provision for (reversal of) allowance | (543) | (2,400) |
Allowance provided (reversed) for credit loss | ₩ (543) | ₩ (2,400) |
Net impairment loss on financ_3
Net impairment loss on financial assets (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2017KRW (₩) | |
Net impairment loss on financial assets [Line Items] | |
Impairment loss on financial assets | ₩ (1,017,609) |
Reversal of Impairment loss on financial assets | 4,061 |
Net impairment loss on financial assets | (1,013,548) |
Loans | |
Net impairment loss on financial assets [Line Items] | |
Impairment loss on financial assets | (799,577) |
Reversal of Impairment loss on financial assets | 0 |
Net impairment loss on financial assets | (799,577) |
Available-for-sale financial assets | |
Net impairment loss on financial assets [Line Items] | |
Impairment loss on financial assets | (202,360) |
Reversal of Impairment loss on financial assets | 4,061 |
Net impairment loss on financial assets | (198,299) |
Other financial assets | |
Net impairment loss on financial assets [Line Items] | |
Impairment loss on financial assets | (15,672) |
Reversal of Impairment loss on financial assets | 0 |
Net impairment loss on financial assets | ₩ (15,672) |
General and administrative ex_3
General and administrative expense (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Employee benefits: | |||
Salaries | ₩ 2,918,065 | ₩ 2,736,604 | ₩ 2,668,224 |
Defined contribution | 35,972 | 23,745 | 21,040 |
Defined benefit | 168,732 | 133,749 | 173,080 |
Termination benefits | 122,732 | 115,275 | 285,158 |
Subtotal | 3,245,501 | 3,009,373 | 3,147,502 |
Entertainment | 36,931 | 30,442 | 29,039 |
Depreciation | 479,657 | 171,771 | 173,541 |
Amortization | 99,208 | 73,575 | 66,860 |
Taxes and dues | 197,691 | 176,133 | 165,689 |
Advertising | 265,739 | 287,688 | 271,819 |
Research | 17,742 | 13,928 | 14,093 |
Others | 792,205 | 978,665 | 942,655 |
General and administrative expenses | ₩ 5,134,674 | ₩ 4,741,575 | ₩ 4,811,198 |
Stock options granted (Details)
Stock options granted (Details) | 12 Months Ended | |
Dec. 31, 2019₩ / shares | ||
5th grant | ||
Stock options granted [Line Items] | ||
Grant date | March 21, 2006 | |
Exercise price in won | ₩ 38,829 | [1] |
Number of shares granted | 3,296,200 | |
Options expiry dates | Aug. 21, 2019 | |
Changes in number of shares granted: | ||
Balance at January 1, 2019 | 2,500 | |
Exercised and cancelled | 2,500 | [2] |
Balance at December 31, 2019 | 0 | |
Fair value per share in won | 0 | |
6th grant | ||
Stock options granted [Line Items] | ||
Grant date | March 20, 2007 | |
Exercise price in won | ₩ 54,560 | [1] |
Number of shares granted | 1,301,050 | |
Options expiry dates | Aug. 19, 2020 | |
Changes in number of shares granted: | ||
Balance at January 1, 2019 | 58,764 | |
Exercised and cancelled | 0 | [2] |
Balance at December 31, 2019 | 58,764 | |
Fair value per share in won | 88 | |
7th grant | ||
Stock options granted [Line Items] | ||
Grant date | March 19, 2008 | |
Exercise price in won | ₩ 49,053 | [1] |
Number of shares granted | 808,700 | |
Options expiry dates | May NaN, 2021 | |
Changes in number of shares granted: | ||
Balance at January 1, 2019 | 45,628 | |
Exercised and cancelled | 9,466 | [2] |
Balance at December 31, 2019 | 36,162 | |
Fair value per share in won | 1,122(Expiration of contractual exercise period : May 17, 2021) 1,301(Expiration of contractual exercise period : Sep 17, 2021) | |
[1] | The weighted average exercise price for 94,926 stock options outstanding at December 31, 2019 is W52,462. | |
[2] | As of December 31, 2019, the exercise of the remaining for 9,466 stock options (7th grant) was cancelled. |
Performance shares (Details)
Performance shares (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Expired performance shares | |
Performance shares [Line Items] | |
Type | Cash-settled share-based payment |
Performance conditions | Increase rate of the stock price and achievement of target ROE |
Operating period | 4 or 5 years |
Estimated number of shares vested at December 31, 2019 | 20,427 |
Not Expired performance shares | |
Performance shares [Line Items] | |
Type | Cash-settled share-based payment |
Performance conditions | Increase rate of the stock price and achievement of target ROE |
Operating period | 4 or 5 years |
Estimated number of shares vested at December 31, 2019 | 2,074,713 |
Fair value performance shares (
Fair value performance shares (Details) | Dec. 31, 2019KRW (₩) |
Vested at December 31, 2015 | |
Fair value performance shares [Line Items] | |
Fair value per share | ₩ 40,889 |
Vested at December 31, 2016 | |
Fair value performance shares [Line Items] | |
Fair value per share | 45,766 |
Vested at December 31, 2017 | |
Fair value performance shares [Line Items] | |
Fair value per share | 49,405 |
Vested at December 31, 2018 | |
Fair value performance shares [Line Items] | |
Fair value per share | 40,580 |
Vested at December 31, 2019 | |
Fair value performance shares [Line Items] | |
Fair value per share | 44,222 |
Not Expired performance shares | |
Fair value performance shares [Line Items] | |
Fair value per share | ₩ 43,350 |
Share-based compensation costs
Share-based compensation costs (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | ₩ 4,670 | ₩ 1,072 | ₩ 2,006 |
Employees of the subsidiaries | 32,634 | 9,510 | 17,166 |
Total | 37,304 | 10,582 | 19,172 |
4th Stock options granted | |||
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | 0 | 67 | |
Employees of the subsidiaries | (14) | 413 | |
Total | (14) | 480 | |
5th Stock options granted | |||
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | 0 | 0 | 48 |
Employees of the subsidiaries | 9 | (19) | 757 |
Total | 9 | (19) | 805 |
6th Stock options granted | |||
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | (3) | (23) | 26 |
Employees of the subsidiaries | (15) | (139) | 159 |
Total | (18) | (162) | 185 |
7th Stock options granted | |||
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | (5) | (59) | 83 |
Employees of the subsidiaries | (6) | (86) | 120 |
Total | (11) | (145) | 203 |
Performance shares | |||
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | 4,678 | 1,154 | 1,782 |
Employees of the subsidiaries | 32,646 | 9,768 | 15,717 |
Total | ₩ 37,324 | ₩ 10,922 | ₩ 17,499 |
Accrued expenses and the intrin
Accrued expenses and the intrinsic value recognized in share-based payments (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Accrued expenses and the intrinsic value recognized in share-based payments [Line Items] | |||
Employees of the controlling company | [1] | ₩ 10,023 | ₩ 7,355 |
Employees of the subsidiaries | [1] | 81,383 | 61,850 |
Total | 91,406 | 69,205 | |
Stock options granted | |||
Accrued expenses and the intrinsic value recognized in share-based payments [Line Items] | |||
Employees of the controlling company | [1] | 20 | |
5th Stock options granted | |||
Accrued expenses and the intrinsic value recognized in share-based payments [Line Items] | |||
Employees of the controlling company | [1] | 0 | |
Employees of the subsidiaries | [1] | 7 | |
Total | 7 | ||
6th Stock options granted | |||
Accrued expenses and the intrinsic value recognized in share-based payments [Line Items] | |||
Employees of the controlling company | [1] | 1 | 3 |
Employees of the subsidiaries | [1] | 4 | 20 |
Total | 5 | 23 | |
7th Stock options granted | |||
Accrued expenses and the intrinsic value recognized in share-based payments [Line Items] | |||
Employees of the controlling company | [1] | 19 | 24 |
Employees of the subsidiaries | [1] | 27 | 33 |
Total | 46 | 57 | |
Performance shares | |||
Accrued expenses and the intrinsic value recognized in share-based payments [Line Items] | |||
Employees of the controlling company | [1] | 10,003 | 7,328 |
Employees of the subsidiaries | [1] | 81,352 | 61,790 |
Total | ₩ 91,355 | ₩ 69,118 | |
[1] | The intrinsic value of share-based payments is W69,120 million as of December 31, 2018. For calculating, the quoted market price W39,600 per share was used for stock options and the fair value was considered as intrinsic value for performance shares, respectively. |
Net other operating expense (De
Net other operating expense (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other operating income | |||
Gain on sale of Loans | ₩ 50,707 | ||
Gain on sales of loans at amortized cost | ₩ 18,298 | ₩ 40,624 | |
Miscellaneous other operating income | |||
Gain on hedged items | 564,438 | 418,390 | 634,695 |
Reversal of allowance for acceptances and guarantee | 19,329 | 2,834 | 0 |
Gain on trust account | 27 | 0 | 14 |
Reversal of other allowance | 11,194 | 5,033 | 286,932 |
Others | 97,777 | 131,345 | 82,375 |
Miscellaneous other operating income | 692,765 | 557,602 | 1,004,016 |
Other operating income | 711,063 | 598,226 | 1,054,723 |
Other operating expense | |||
Loss on sale of Loans | (8,394) | ||
Loss on sale of loans at amortized cost | (27,291) | (14,271) | |
Miscellaneous other operating expense | |||
Loss on hedged items | (596,533) | (406,872) | (629,754) |
Contribution | (311,336) | (283,331) | (252,419) |
Provision for acceptances and guarantee allowance | 0 | 0 | (2,548) |
Provision for other allowance | (6,939) | (13,036) | (12,133) |
Depreciation of operating lease assets | (98,288) | (56,570) | (12,943) |
Others | (857,918) | (653,501) | (599,524) |
Miscellaneous other operating expense | (1,871,014) | (1,413,310) | (1,509,321) |
Other operating expense | (1,898,305) | (1,427,581) | (1,517,715) |
Net other operating expenses | ₩ (1,187,242) | ₩ (829,355) | ₩ (462,992) |
Net other non-operating incom_2
Net other non-operating income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Gain on sale of assets | ||||
Gain on sale of property and equipment | [1] | ₩ 1,452 | ₩ 12,611 | ₩ 5,278 |
Gain on sale of investment property | 12,640 | 4,783 | 219 | |
Gain on sale of assets held for sale | 0 | 0 | 22,748 | |
Gain on sale of lease assets | 1,681 | 1,153 | 605 | |
Gain on sale of right-of-use assets | 1,112 | 0 | 0 | |
Gain on sale of others | 407 | 0 | 125 | |
Gain on sale of assets | 17,292 | 18,547 | 28,975 | |
Gain on sale of investments in associates | 3,461 | 17,427 | 8,891 | |
Miscellaneous other non-operating income | ||||
Rental income on investment property | 43,777 | 32,488 | 33,023 | |
Reversal of impairment losses on intangible asset | 438 | 62 | 91 | |
Gain from assets contributed | 86 | 77 | 1,067 | |
Others | 82,879 | 49,276 | 67,535 | |
Miscellaneous other non-operating income | 127,180 | 81,903 | 101,716 | |
Other non-operating income | 147,933 | 117,877 | 139,582 | |
Loss on sale of assets | ||||
Loss on sale of property and equipment | (870) | (3,082) | (2,642) | |
Loss on sale of investment property | 0 | (2,958) | (1,627) | |
Loss on sale of lease assets | (3,221) | (3,964) | (1,282) | |
Loss on sale of right-of-use assets | (306) | 0 | 0 | |
Loss on sale of others | 0 | (3) | (149) | |
Loss on sale of assets | (4,397) | (10,007) | (5,700) | |
Loss from investments in associates | ||||
Loss on sale of investments in associates | (3,974) | (11,546) | (1,332) | |
Impairment loss on investments in associates | 0 | (5,849) | (144) | |
Loss from investments in associates | (3,974) | (17,395) | (1,476) | |
Miscellaneous other non-operating expense | ||||
Donations | (94,937) | (88,650) | (140,243) | |
Depreciation of investment properties | (17,565) | (16,917) | (16,095) | |
Impaired loss on property and equipment | 0 | 0 | (16) | |
Impaired loss on intangible assets | (152,081) | (771) | (271) | |
Write-off of intangible assets | (9,221) | (1,537) | (1,210) | |
Collecting of written-off expenses | (7,322) | (6,048) | (7,162) | |
Others | (46,465) | (26,844) | (20,220) | |
Miscellaneous other non-operating expense | (327,591) | (140,767) | (185,217) | |
Other non-operating expense | (335,962) | (168,169) | (192,393) | |
Net other non-operating income | ₩ (188,029) | ₩ (50,292) | ₩ (52,811) | |
[1] | Gains or losses on sale and leaseback transactions are included in gains or losses on disposal of property and equipment respectively, and there are no gains or losses recognized on sale and leaseback transactions for the year ended December 31, 2019 |
Income tax expense (Details)
Income tax expense (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax expense [Abstract] | |||
Current income tax expense | ₩ 1,115,724 | ₩ 896,755 | ₩ 726,384 |
Temporary differences | 296,244 | 383,190 | 46,468 |
Income tax recognized in other comprehensive income | (142,844) | (11,600) | 75,551 |
Income tax expenses | ₩ 1,269,124 | ₩ 1,268,345 | ₩ 848,403 |
Income tax expense calculated b
Income tax expense calculated by multiplying net income before tax with the tax rate (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax expense calculated by multiplying net income before tax with the tax rate [Abstract] | |||
Profit before income taxes | ₩ 4,911,508 | ₩ 4,466,610 | ₩ 3,797,608 |
Income taxes at statutory tax rates | 1,345,187 | 1,222,840 | 917,802 |
Non-taxable income | (9,561) | (33,879) | |
Non-taxable income | 8,500 | ||
Non-deductible expense | 18,461 | 12,854 | 12,772 |
Tax credit | (2,289) | (23,317) | (195) |
Changes in deferred tax due to change in tax rate | 0 | 0 | (72,985) |
Other | (100,735) | 65,529 | 24,888 |
Income tax expenses | ₩ 1,269,124 | ₩ 1,268,345 | ₩ 848,403 |
Effective tax rate | 25.84% | 28.40% | 22.34% |
Deferred tax expenses by origin
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | ₩ 404,945 | ₩ 788,106 | |||
Business combination | (343,581) | |||||
Profit or loss | (151,869) | (371,561) | ||||
Other comprehensive income (loss) | (142,844) | (11,600) | ₩ 75,551 | |||
Ending balance | (233,349) | 404,945 | [1] | 788,106 | [1] | |
Temporary Difference | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 37,501 | 412,299 | |||
Business combination | (343,581) | |||||
Profit or loss | (104,436) | (363,198) | ||||
Other comprehensive income (loss) | (142,844) | (11,600) | ||||
Ending balance | (553,360) | 37,501 | [1] | 412,299 | [1] | |
Unearned income | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | (255,336) | (202,069) | |||
Business combination | (62,077) | |||||
Profit or loss | (14,266) | (53,267) | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | (331,679) | (255,336) | [1] | (202,069) | [1] | |
Account receivable | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | (24,139) | (19,267) | |||
Business combination | 0 | |||||
Profit or loss | (2,185) | (4,872) | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | (26,324) | (24,139) | [1] | (19,267) | [1] | |
Financial assets at fair value through profit or loss | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 48,277 | (47,548) | |||
Business combination | 9,284 | |||||
Profit or loss | (20,972) | 79,000 | ||||
Other comprehensive income (loss) | (56,654) | 16,825 | ||||
Ending balance | (20,065) | 48,277 | [1] | (47,548) | [1] | |
Securities at fair value through other comprehensive income | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 177,358 | 307,729 | |||
Business combination | (554,017) | |||||
Profit or loss | 425,491 | (47,548) | ||||
Other comprehensive income (loss) | (130,344) | (82,823) | ||||
Ending balance | (81,512) | 177,358 | [1] | 307,729 | [1] | |
Investment in associates | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 24,743 | 24,918 | |||
Business combination | 0 | |||||
Profit or loss | (5,937) | 3,205 | ||||
Other comprehensive income (loss) | (48) | (3,380) | ||||
Ending balance | 18,758 | 24,743 | [1] | 24,918 | [1] | |
Valuation and depreciation of property and equipment | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | (161,996) | (163,313) | |||
Business combination | 0 | |||||
Profit or loss | 10,950 | 1,317 | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | (151,046) | (161,996) | [1] | (163,313) | [1] | |
Derivatives | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 111,751 | (70,828) | |||
Business combination | (1,132) | |||||
Profit or loss | (97,147) | 171,000 | ||||
Other comprehensive income (loss) | 7,533 | 11,579 | ||||
Ending balance | 21,005 | 111,751 | [1] | (70,828) | [1] | |
Deposits | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 28,036 | 27,904 | |||
Business combination | 0 | |||||
Profit or loss | 2,605 | 132 | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 30,641 | 28,036 | [1] | 27,904 | [1] | |
Accrued expenses | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 132,689 | 171,310 | |||
Business combination | 15,298 | |||||
Profit or loss | (2,493) | (38,621) | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 145,494 | 132,689 | [1] | 171,310 | [1] | |
Defined benefit obligation | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 447,658 | 408,266 | |||
Business combination | 4,805 | |||||
Profit or loss | 33,321 | 6,965 | ||||
Other comprehensive income (loss) | 20,348 | 32,427 | ||||
Ending balance | 506,132 | 447,658 | [1] | 408,266 | [1] | |
Plan assets | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | (446,323) | (411,935) | |||
Business combination | (4,610) | |||||
Profit or loss | (57,165) | (37,117) | ||||
Other comprehensive income (loss) | 958 | 2,729 | ||||
Ending balance | (507,140) | (446,323) | [1] | (411,935) | [1] | |
Other provisions | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 194,475 | 191,298 | |||
Business combination | 2,283 | |||||
Profit or loss | 16,297 | 3,177 | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 213,055 | 194,475 | [1] | 191,298 | [1] | |
Allowance for acceptances and guarantees | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 29,157 | 23,929 | |||
Business combination | 42,234 | |||||
Profit or loss | 8,623 | 5,228 | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 80,014 | 29,157 | [1] | 23,929 | [1] | |
Allowance related to asset revaluation | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | (49,713) | (52,886) | |||
Business combination | 0 | |||||
Profit or loss | 0 | 3,173 | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | (49,713) | (49,713) | [1] | (52,886) | [1] | |
Allowance for expensing depreciation | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | (465) | (529) | |||
Business combination | 0 | |||||
Profit or loss | 64 | 64 | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | (401) | (465) | [1] | (529) | [1] | |
Deemed dividend | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 0 | 5,317 | |||
Business combination | 0 | |||||
Profit or loss | 0 | (5,317) | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 0 | 0 | [1] | 5,317 | [1] | |
Accrued contributions | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 21,711 | 11,904 | |||
Business combination | 0 | |||||
Profit or loss | 15,107 | 9,807 | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 36,818 | 21,711 | [1] | 11,904 | [1] | |
Financial instruments designated at fair value through profit of loss | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | (87,408) | (7,194) | |||
Business combination | 0 | |||||
Profit or loss | 130,225 | (80,214) | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 42,817 | (87,408) | [1] | (7,194) | [1] | |
Allowances | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 48,784 | 131,222 | |||
Business combination | 0 | |||||
Profit or loss | (10,716) | (82,438) | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 38,068 | 48,784 | [1] | 131,222 | [1] | |
Fictitious dividend | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 1,325 | 4,990 | |||
Business combination | 0 | |||||
Profit or loss | 16 | (3,665) | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 1,341 | 1,325 | [1] | 4,990 | [1] | |
Liability under insurance contracts | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 22,593 | 18,105 | |||
Business combination | 0 | |||||
Profit or loss | 1,554 | 4,488 | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 24,147 | 22,593 | [1] | 18,105 | [1] | |
Deficit carried over | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 0 | 1,505 | |||
Business combination | 0 | |||||
Profit or loss | 0 | (1,505) | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 0 | 0 | [1] | 1,505 | [1] | |
Other | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | (225,676) | 59,471 | |||
Business combination | 204,351 | |||||
Profit or loss | (537,808) | (296,190) | ||||
Other comprehensive income (loss) | 15,363 | 11,043 | ||||
Ending balance | (543,770) | (225,676) | [1] | 59,471 | [1] | |
Expired unused tax losses | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | 367,444 | 375,807 | ||||
Business combination | 0 | |||||
Profit or loss | (47,433) | (8,363) | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | 320,011 | 367,444 | 375,807 | |||
Extinguishment of deposit and insurance liabilities | ||||||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | ||||||
Beginning balance | [1] | 367,444 | 375,807 | |||
Business combination | 0 | |||||
Profit or loss | (47,433) | (8,363) | ||||
Other comprehensive income (loss) | 0 | 0 | ||||
Ending balance | ₩ 320,011 | ₩ 367,444 | [1] | ₩ 375,807 | [1] | |
[1] | Changes in the scope of application of IFRS 9 and 15 have been reflected. |
Deferred tax assets and liabili
Deferred tax assets and liabilities that were directly charged or credited to equity (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
OCI | ||
Beginning balance | ₩ (894,711) | ₩ (963,126) |
Changes | 639,864 | 68,415 |
Ending balance | (254,847) | (894,711) |
Tax effect | ||
Beginning balance | 141,490 | 156,381 |
Changes | (146,799) | (14,891) |
Ending balance | (5,309) | 141,490 |
Gain (loss) on valuation of financial assets measured at FVOCI | ||
OCI | ||
Beginning balance | 11,713 | (255,593) |
Changes | 427,657 | 267,306 |
Ending balance | 439,370 | 11,713 |
Tax effect | ||
Beginning balance | (8,754) | 76,124 |
Changes | (124,147) | (84,878) |
Ending balance | (132,901) | (8,754) |
Gain (loss) on financial liabilities measured at FVTPL attributable to changes in credit risk | ||
OCI | ||
Beginning balance | 235 | (2,141) |
Changes | (11,621) | 2,376 |
Ending balance | (11,386) | 235 |
Tax effect | ||
Beginning balance | (65) | 588 |
Changes | 3,196 | (653) |
Ending balance | 3,131 | (65) |
Foreign currency translation adjustments for foreign operations | ||
OCI | ||
Beginning balance | (306,766) | (317,264) |
Changes | 98,418 | 10,498 |
Ending balance | (208,348) | (306,766) |
Tax effect | ||
Beginning balance | (15,087) | (25,054) |
Changes | 5,970 | 9,967 |
Ending balance | (9,117) | (15,087) |
Gain (loss) on cash flow hedge | ||
OCI | ||
Beginning balance | (24,485) | 7,286 |
Changes | (23,492) | (31,771) |
Ending balance | (47,977) | (24,485) |
Tax effect | ||
Beginning balance | 6,733 | (4,845) |
Changes | 7,533 | 11,578 |
Ending balance | 14,266 | 6,733 |
Equity in other comprehensive income of associates | ||
OCI | ||
Beginning balance | 4,957 | (5,868) |
Changes | 3,343 | 10,825 |
Ending balance | 8,300 | 4,957 |
Tax effect | ||
Beginning balance | (74) | 3,306 |
Changes | (48) | (3,380) |
Ending balance | (122) | (74) |
The accumulated other comprehensive income in separate account | ||
OCI | ||
Beginning balance | 5,672 | (6,295) |
Changes | 14,382 | 11,967 |
Ending balance | 20,054 | 5,672 |
Tax effect | ||
Beginning balance | (1,560) | 1,731 |
Changes | (3,955) | (3,291) |
Ending balance | (5,515) | (1,560) |
Remeasurements of the defined benefit liability | ||
OCI | ||
Beginning balance | (477,382) | (349,538) |
Changes | (76,156) | (127,844) |
Ending balance | (553,538) | (477,382) |
Tax effect | ||
Beginning balance | 130,700 | 95,543 |
Changes | 21,306 | 35,157 |
Ending balance | 152,006 | 130,700 |
Gain (loss) on valuation of financial asset measured at FVTPL (overlay approach) | ||
OCI | ||
Beginning balance | (108,655) | (33,713) |
Changes | 207,333 | (74,942) |
Ending balance | 98,678 | (108,655) |
Tax effect | ||
Beginning balance | 29,597 | 8,988 |
Changes | (56,654) | 20,609 |
Ending balance | ₩ (27,057) | ₩ 29,597 |
The amount of deductible tempor
The amount of deductible temporary differences, unused tax losses, and unused tax credits that are not recognized as deferred tax assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
The amount of deductible temporary differences, unused tax losses, and unused tax credits that are not recognized as deferred tax assets [Abstract] | ||
Tax loss carry forward | ₩ 0 | ₩ 99,449 |
The amount of temporary differe
The amount of temporary difference regarding investment in subsidiaries that are not recognized as deferred tax liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
The amount of temporary difference regarding investment in subsidiaries that are not recognized as deferred tax liabilities [Abstract] | ||
Investment in subsidiaries | ₩ (766,888) | ₩ (686,107) |
Deferred tax assets and liabi_2
Deferred tax assets and liabilities presented on a gross basis prior to any offsetting (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax assets and liabilities presented on a gross basis prior to any offsetting [Abstract] | ||
Deferred tax assets | ₩ 518,337 | ₩ 483,517 |
Deferred tax liabilities | ₩ (751,686) | ₩ (78,572) |
Earnings per share (Details)
Earnings per share (Details) - KRW (₩) ₩ / shares in Units, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings per share [Abstract] | |||
Profit (loss), attributable to owners of parent | ₩ 3,403,497 | ₩ 3,156,722 | ₩ 2,918,816 |
Less | |||
Dividends to hybrid bonds | 61,993 | 40,357 | 17,678 |
Net profit available for common stock | ₩ 3,341,504 | ₩ 3,116,365 | ₩ 2,901,138 |
Weighted average number of common shares outstanding | 477,346,731 | 473,649,076 | 474,199,587 |
Basic and diluted earnings per share in won | ₩ 7,000 | ₩ 6,579 | ₩ 6,118 |
Guarantees, acceptances and cre
Guarantees, acceptances and credit commitments (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Guarantees | ||
Guarantee outstanding | ₩ 9,319,885 | ₩ 9,437,691 |
Contingent guarantees | 3,669,697 | 3,985,532 |
Subtotal | 12,989,582 | 13,423,223 |
Commitments to extend credit | ||
Loan commitments in won | 74,393,722 | 69,906,336 |
Loan commitments in foreign currency | 22,542,776 | 19,967,297 |
ABS and ABCP commitments | 2,116,354 | 2,083,522 |
Others | 81,387,165 | 73,816,233 |
Subtotal | 180,440,017 | 165,773,388 |
Endorsed bills | ||
Secured endorsed bills | 11,287 | 37,667 |
Unsecured endorsed bills | 6,737,097 | 7,758,242 |
Subtotal | 6,748,384 | 7,795,909 |
Loans sold under repurchase agreement | 2,099 | 2,099 |
Total | ₩ 200,180,082 | ₩ 186,994,619 |
Legal contingencies (Details)
Legal contingencies (Details) ₩ in Millions | Dec. 31, 2019KRW (₩) | |
Case | ||
Legal contingencies [Line Items] | ||
Number of claim | 428 | |
Claim amount | ₩ 257,366 | [1] |
Payment Guarantee | ||
Legal contingencies [Line Items] | ||
Number of claim | 1 | |
Claim amount | ₩ 10,767 | [1] |
Compensation for a loss | ||
Legal contingencies [Line Items] | ||
Number of claim | 1 | |
Claim amount | ₩ 6,893 | [1] |
Confirm deposit accounts | ||
Legal contingencies [Line Items] | ||
Number of claim | 1 | |
Claim amount | ₩ 5,575 | [1] |
Others | ||
Legal contingencies [Line Items] | ||
Number of claim | 425 | |
Claim amount | ₩ 234,131 | [1] |
[1] | As of the December 31, 2019, the Group has recorded W8,789 million and W1,727 million, respectively, as other provisions and insurance contract liabilities (reserve for claims) for litigations, etc., The outcome of the lawsuits is not expected to have a material impact on the consolidated financial statements, but additional losses may result from future litigation. |
Cash and cash equivalents in th
Cash and cash equivalents in the consolidated statements of cash flows (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents in the consolidated statements of cash flows [Abstract] | ||||
Cash and due from banks | ₩ 22,682,652 | |||
Cash and due from banks at amortized cost | ₩ 28,435,818 | ₩ 17,363,450 | ||
Due from financial institutions with a maturity over three months from date of acquisition | (3,349,719) | (3,008,188) | (3,010,471) | |
Restricted due from banks | (16,506,925) | (6,175,506) | (13,435,531) | |
Total | ₩ 8,579,174 | ₩ 8,179,756 | ₩ 6,236,650 | ₩ 5,632,536 |
Significant non-cash activities
Significant non-cash activities (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Significant non-cash activities [Abstract] | |||
Debt-equity swap | ₩ 224,093 | ₩ 28,759 | ₩ 32,530 |
Transfers from construction-in-progress to property and equipment | 76,004 | 6,319 | 14,285 |
Transfers between property and equipment and investment property | 104,573 | 28,199 | 91,782 |
Transfers between assets held for sale to property and equipment | 455 | 80 | 5,336 |
Transfers between investment property and assets held for sale | 15,795 | 0 | 6,306 |
Accounts payable for purchase of intangible assets, etc. | 472,798 | 1,047 | 0 |
Transaction for right-of-use assets | ₩ 1,376,764 | ₩ 0 | ₩ 0 |
Changes in assets and liabiliti
Changes in assets and liabilities arising from financing activities (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Changes in assets and liabilities arising from financing activities [Line Items] | |||
Lease liabilities recognized at the beginning of 2019 | [1] | ₩ 536,842 | |
Assets | Derivatives | |||
Changes in assets and liabilities arising from financing activities [Line Items] | |||
Balance at January 1 | 7,477 | ₩ 3,966 | |
Changes from cash flows | 0 | (5,845) | |
Amortization of discount on borrowings and debentures | 0 | 0 | |
Changes in foreign currency exchange rate | 0 | 0 | |
Others | 47,020 | 9,356 | |
Business combination(Note 50) | 0 | ||
Balance at December 31 | 54,497 | 7,477 | |
Liabilities | |||
Changes in assets and liabilities arising from financing activities [Line Items] | |||
Balance at January 1 | 93,138,297 | 79,077,675 | |
Lease liabilities recognized at the beginning of 2019 | 536,842 | ||
Changes from cash flows | 15,927,622 | 13,552,822 | |
Amortization of discount on borrowings and debentures | 422,135 | 516,985 | |
Changes in foreign currency exchange rate | 456,157 | 1,184,789 | |
Others | 920,311 | (1,193,974) | |
Business combination(Note 50) | 32,587 | ||
Balance at December 31 | 111,433,951 | 93,138,297 | |
Liabilities | Derivatives | |||
Changes in assets and liabilities arising from financing activities [Line Items] | |||
Balance at January 1 | 84,579 | 146,278 | |
Changes from cash flows | (21,958) | (12,002) | |
Amortization of discount on borrowings and debentures | 0 | 0 | |
Changes in foreign currency exchange rate | 0 | 0 | |
Others | (13,946) | (49,697) | |
Business combination(Note 50) | 0 | ||
Balance at December 31 | 48,675 | 84,579 | |
Liabilities | Borrowings | |||
Changes in assets and liabilities arising from financing activities [Line Items] | |||
Balance at January 1 | 29,818,542 | 27,586,610 | |
Changes from cash flows | 5,017,269 | 1,772,203 | |
Amortization of discount on borrowings and debentures | 58,320 | 181,050 | |
Changes in foreign currency exchange rate | 173,623 | 955,512 | |
Others | (204,598) | (676,833) | |
Business combination(Note 50) | 0 | ||
Balance at December 31 | 34,863,156 | 29,818,542 | |
Liabilities | Debentures | |||
Changes in assets and liabilities arising from financing activities [Line Items] | |||
Balance at January 1 | 63,227,699 | 51,340,821 | |
Changes from cash flows | 11,201,673 | 11,798,466 | |
Amortization of discount on borrowings and debentures | 352,524 | 335,935 | |
Changes in foreign currency exchange rate | 282,534 | 229,277 | |
Others | 298,934 | (476,800) | |
Business combination(Note 50) | 0 | ||
Balance at December 31 | 75,363,364 | 63,227,699 | |
Liabilities | Lease liabilities | |||
Changes in assets and liabilities arising from financing activities [Line Items] | |||
Balance at January 1 | 0 | ||
Lease liabilities recognized at the beginning of 2019 | 536,842 | ||
Changes from cash flows | (269,362) | ||
Amortization of discount on borrowings and debentures | 11,291 | ||
Changes in foreign currency exchange rate | 0 | ||
Others | 792,901 | ||
Business combination(Note 50) | 32,587 | ||
Balance at December 31 | ₩ 1,104,259 | ₩ 0 | |
[1] | Right-of-use assets were measured by adjusting the amount of prepaid or unpaid lease payments in relation to leases recognized in the consolidated statement of financial position at the same amount as the lease liability. As a result, property, plant and equipment increased by W573,823 million at the beginning of 2019, and prepaid expense, unearned revenue and accrued expenses decreased by W42,196 million, W5,197 million and W17 million, respectively. |
Related parties - Balances with
Related parties - Balances with the related parties (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Investments in associates: | ||
Assets: | ||
Loans | ₩ 4,426 | ₩ 3,313 |
BNP Paribas Cardif Life Insurance | ||
Assets: | ||
Credit card loans | 173 | 116 |
Allowances for credit loss | 0 | 0 |
Other assets | 92 | 9,860 |
Liabilities: | ||
Deposits | 402 | 444 |
Provisions | 0 | 0 |
Partners 4th Growth Investment Fund | ||
Liabilities: | ||
Deposits | 1,443 | 1,855 |
BNP Paribas Cardif General Insurance | ||
Assets: | ||
Credit card loans | 26 | 29 |
Allowances for credit loss | 0 | (2) |
Other assets | 401 | 0 |
Liabilities: | ||
Deposits | 17 | 157 |
Shinhan Praxis K-Growth Global Private Equity Fund | ||
Assets: | ||
Other assets | 91 | 151 |
Dream High Fund III | ||
Liabilities: | ||
Deposits | 5 | 4 |
Midas Dong-A Snowball Venture Fund | ||
Liabilities: | ||
Deposits | 0 | 159 |
Credian Healthcare Private Equity Fund II | ||
Liabilities: | ||
Deposits | 4 | 45 |
KDBC Midas Dong-A Snowball Venture Fund II | ||
Liabilities: | ||
Deposits | 233 | 354 |
IBKS-Shinhan Creative Economy New Technology Fund II | ||
Liabilities: | ||
Deposits | 0 | 672 |
Eum Private Equity Fund No.3 | ||
Liabilities: | ||
Deposits | 353 | 49 |
SHBNPP Private Korea Equity Long-Short Professional Feeder | ||
Assets: | ||
Other assets | 0 | 133 |
Shinhan Global Healthcare Fund 1 | ||
Liabilities: | ||
Unearned revenue | 0 | 360 |
Shinhan Fintech New Technology Fund No.1 | ||
Liabilities: | ||
Unearned revenue | 0 | 123 |
Taihan Industrial System Co., Ltd. | ||
Liabilities: | ||
Deposits | 0 | 85 |
Incorporated association Finance Saving Information Center | ||
Assets: | ||
Credit card loans | 0 | 3 |
Liabilities: | ||
Deposits | 6 | 4 |
GX SHINHAN INTERVEST 1st Private Equity Fund | ||
Liabilities: | ||
Unearned revenue | 248 | 278 |
Nomura investment property trust No.19 | ||
Assets: | ||
Loans | 11,973 | 11,966 |
Other assets | 42 | 45 |
SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 | ||
Assets: | ||
Other assets | 678 | 236 |
Shinhan-Stonebridge Petro PEF | ||
Assets: | ||
Other assets | 810 | ₩ 484 |
Korea Finance Security | ||
Liabilities: | ||
Deposits | 362 | |
SHINHAN-CORE TREND GLOBAL FUND 1 | ||
Liabilities: | ||
Unearned revenue | 9 | |
Hermes Private Investment Equity Fund | ||
Liabilities: | ||
Deposits | 275 | |
Multimedia Tech Co.Ltd | ||
Liabilities: | ||
Deposits | 3 | |
Korea Credit Bureau | ||
Liabilities: | ||
Deposits | 80 | |
Goduck Gangil1 PFV Co., Ltd | ||
Assets: | ||
Loans | 24,000 | |
Allowances for credit loss | (78) | |
SBC PFV Co., Ltd | ||
Liabilities: | ||
Deposits | 5,142 | |
GMG Development Co,. Ltd | ||
Liabilities: | ||
Deposits | 300 | |
Sprott Global Renewable Private Equity Fund I | ||
Liabilities: | ||
Deposits | 342 | |
IMM Global Private Equity Fund | ||
Assets: | ||
Loans | 800 | |
Allowances for credit loss | (3) | |
Liabilities: | ||
Deposits | ₩ 7,598 |
Related parties - Transactions
Related parties - Transactions with the related parties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
BNP Paribas Cardif Life Insurance | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | ₩ 4,230 | ₩ 3,716 | ₩ 4,631 |
Reversal of allowance for credit losses | 3 | 4 | 0 |
General and administrative expenses | (9) | (17) | (10) |
Other operating expense | (1) | ||
Provision for allowance for credit losses | 0 | 0 | (3) |
Shinhan Praxis K-Growth Global Private Equity Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 448 | 685 | 689 |
BNP Paribas Cardif General Insurance | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 11 | 9 | 4 |
Other operating income | 468 | ||
Reversal of allowance for credit losses | 0 | 0 | 1 |
Provision for allowance for credit losses | 0 | (2) | 0 |
Midas Dong-A Snowball Venture Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 119 | 47 | 38 |
Interest expense | (1) | (2) | (3) |
SP New Technology Business investment Fund I | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 317 | 41 |
IBKS-Shinhan Creative Economy New Technology Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 380 | 13 | 37 |
Interest expense | 0 | 0 | (2) |
SM New Technology Business Investment Fund I | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 14 | 55 | 55 |
JAEYOUNG SOLUTEC CO., LTD. | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 0 | 523 | 654 |
Fees and commission income | 0 | 2 | 1 |
Other operating income | 0 | 3 | 3 |
Reversal of allowance for credit losses | 0 | 0 | 1 |
Interest expense | 0 | (2) | (4) |
Provision for allowance for credit losses | 0 | (1) | (55) |
The Asia Pacific Capital Fund II L.P. | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 0 | 85 |
Partners 4th Growth Investment Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest expense | (7) | (19) | (16) |
Shinhan-Albatross Technology Investment | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 216 | 216 | 152 |
Interest expense | 0 | 0 | (21) |
IBKS-Shinhan Creative Economy New Technology Fund II | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 8 | 16 | 25 |
KDBC Midas Dong-A Snowball Venture Fund II | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest expense | 0 | (2) | 0 |
SHBNPP Private Korea Equity Long-Short Professional Feeder | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 363 | 975 | 892 |
Branbuil CO., LTD. | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 0 | 2 |
STI-New Growth Engines Investment | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 16 | 30 |
Shinhan Fintech New Technology Fund No.1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 38 | 153 | 30 |
KTB New lake medical Global Investment | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 0 | 0 | 10 |
Other operating income | 0 | 0 | (13) |
Shinhan Global Healthcare Fund 1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 360 | 785 | 282 |
Taihan Industrial System Co., Ltd. | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 1 | 2 |
Shinhan capital-Cape FN Fund No.1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 101 | 82 | |
SHC-K2 Global Material Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 19 | 20 | |
Synergy-Shinhan Mezzanine New Technology Investment Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 94 | 127 | |
Shinhan-Midas Dong-A Secondary Venture Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 187 | 71 | |
GX SHINHAN INTEREST 1st Private Equity Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 545 | 412 | |
Shinhan-Nvestor Liquidity Solution Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 361 | 214 | |
SHC ULMUS Fund No.1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 76 | 51 | |
Shinhan-PS Investment Fund No.1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 20 | 12 | |
Nomura investment property trust No.19 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 519 | 312 | |
Other operating income | 7 | ||
Provision for allowance for credit losses | 0 | (34) | |
SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 2,694 | 236 | |
Shinhan-Stonebridge Petro PEF | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 1,762 | 1,920 | 0 |
Korea Finance Security | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 10 | ||
ShinHan - Soo Young Entrepreneur Investment Fund No.1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 275 | ||
Shinhan-Rhinos 1 Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 64 | ||
SHINHAN-CORE TREND GLOBAL FUND 1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 45 | ||
Kiwoom-Shinhan Innovation Fund I | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 67 | ||
One Shinhan Global Fund 1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 151 | ||
Yeollim-Shinhan Portfolio Fund I | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 59 | ||
FuturePlay-Shinhan TechInnovation Fund 1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 7 | ||
WON JIN HOME PLAN CO.,LTD | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 186 | ||
Korea Credit Bureau | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 13 | ||
Interest expense | (5) | ||
Goduck Gangil1 PFV Co., Ltd | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 328 | ||
Fees and commission income | 1,120 | ||
Provision for allowance for credit losses | (78) | ||
SBC PFV Co., Ltd | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest expense | (3) | ||
IMM Global Private Equity Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 28 | ||
Interest expense | (25) | ||
Provision for allowance for credit losses | (3) | ||
Key management personnel and their immediate relatives | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | ₩ 161 | ₩ 101 | ₩ 101 |
Related parties - Key managemen
Related parties - Key management personnel compensation (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Key management personnel compensation [Abstract] | ||||
Short-term employee benefits | ₩ 21,237 | ₩ 22,502 | ₩ 17,112 | |
Severance benefits | 731 | 419 | 979 | |
Share-based payment transactions | [1] | 12,343 | 4,944 | 6,787 |
Key management personnel compensation | ₩ 34,311 | ₩ 27,865 | ₩ 24,878 | |
[1] | The expenses of share-based payment transactions are the remuneration expenses during the vesting period. |
Related parties - The guarantee
Related parties - The guarantees provided between the related parties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
BNP Paribas Cardif Life Insurance | Unused credit line | ||
Related parties - The guarantees provided between the related parties [Line Items] | ||
Amount of guarantees | ₩ 10,000 | ₩ 10,000 |
Related parties - Collaterals p
Related parties - Collaterals provided by the related parties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Related parties - Collaterals provided by the related parties [Line Items] | ||
Amount of collaterals | ₩ 40,920 | ₩ 12,000 |
BNP Paribas Cardif Life Insurance | Government bonds | ||
Related parties - Collaterals provided by the related parties [Line Items] | ||
Amount of collaterals | 12,000 | ₩ 12,000 |
Hyungje art printing | Property, plant and equipment [Member] | ||
Related parties - Collaterals provided by the related parties [Line Items] | ||
Amount of collaterals | 120 | |
Goduck Gangil1 PFV Co., Ltd | Guarantee insurance policy | ||
Related parties - Collaterals provided by the related parties [Line Items] | ||
Amount of collaterals | ₩ 28,800 |
Related parties - Significant l
Related parties - Significant loan transactions with related parties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Investments in associates: | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Beginning | ₩ 11,966 | ₩ 0 | |
Loan | 24,800 | 12,000 | |
Other | [1] | 7 | (34) |
Ending | 36,773 | 11,966 | |
Nomura investment property trust No.19 | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Beginning | 11,966 | 0 | |
Loan | 0 | 12,000 | |
Other | [1] | 7 | (34) |
Ending | 11,973 | ₩ 11,966 | |
Goduck Gangil1 PFV Co., Ltd | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Loan | 24,000 | ||
Other | [1] | 0 | |
Ending | 24,000 | ||
IMM Global Private Equity Fund | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Loan | 800 | ||
Other | [1] | 0 | |
Ending | ₩ 800 | ||
[1] | The effect on changes in allowance for credit loss is included. |
Size of unconsolidated structur
Size of unconsolidated structured entities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Unconsolidated structured entities | ||
Size of unconsolidated structured entities [Line Items] | ||
Total assets | ₩ 619,187,523 | ₩ 399,646,452 |
Assets-backed securitization | ||
Size of unconsolidated structured entities [Line Items] | ||
Total assets | 208,441,947 | 196,108,655 |
Structured financing | ||
Size of unconsolidated structured entities [Line Items] | ||
Total assets | 195,374,046 | 132,050,391 |
Investment funds | ||
Size of unconsolidated structured entities [Line Items] | ||
Total assets | ₩ 215,371,530 | ₩ 71,487,406 |
Carrying amounts of the assets
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Unconsolidated structured entities | Assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | ₩ 32,219,449 | ₩ 25,342,850 |
Unconsolidated structured entities | Loans measured at fair value through profit or loss | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 80,373 | 1,307,688 |
Unconsolidated structured entities | Loans at amortized cost | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 11,657,024 | 7,437,936 |
Unconsolidated structured entities | Securities at fair value through profit or loss | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 13,154,346 | 9,846,381 |
Unconsolidated structured entities | Derivative assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 22,521 | 16,968 |
Unconsolidated structured entities | Securities at fair value through other comprehensive income | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 2,333,275 | 2,367,959 |
Unconsolidated structured entities | Securities at amortized cost | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 4,894,942 | 4,277,675 |
Unconsolidated structured entities | Other assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 76,968 | 88,243 |
Unconsolidated structured entities | Liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 11,139 | 9,607 |
Unconsolidated structured entities | Derivative liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 0 | 111 |
Unconsolidated structured entities | Other liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 11,139 | 9,496 |
Assets-backed securitization | Assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 11,565,871 | 11,286,989 |
Assets-backed securitization | Loans measured at fair value through profit or loss | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 10,646 | 292 |
Assets-backed securitization | Loans at amortized cost | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 785,134 | 478,998 |
Assets-backed securitization | Securities at fair value through profit or loss | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 3,705,565 | 4,263,817 |
Assets-backed securitization | Derivative assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 21,494 | 16,390 |
Assets-backed securitization | Securities at fair value through other comprehensive income | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 2,144,846 | 2,244,364 |
Assets-backed securitization | Securities at amortized cost | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 4,894,942 | 4,277,675 |
Assets-backed securitization | Other assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 3,244 | 5,453 |
Assets-backed securitization | Liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 682 | 5,479 |
Assets-backed securitization | Derivative liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 0 | 111 |
Assets-backed securitization | Other liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 682 | 5,368 |
Structured financing | Assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 10,552,232 | 7,859,117 |
Structured financing | Loans measured at fair value through profit or loss | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 69,727 | 504,571 |
Structured financing | Loans at amortized cost | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 10,207,866 | 6,925,438 |
Structured financing | Securities at fair value through profit or loss | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 70,407 | 288,757 |
Structured financing | Derivative assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 1,027 | 578 |
Structured financing | Securities at fair value through other comprehensive income | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 188,429 | 91,316 |
Structured financing | Securities at amortized cost | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 0 | 0 |
Structured financing | Other assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 14,776 | 48,457 |
Structured financing | Liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 10,457 | 4,128 |
Structured financing | Derivative liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 0 | 0 |
Structured financing | Other liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 10,457 | 4,128 |
Investment funds | Assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 10,101,346 | 6,196,744 |
Investment funds | Loans measured at fair value through profit or loss | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 0 | 802,825 |
Investment funds | Loans at amortized cost | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 664,024 | 33,500 |
Investment funds | Securities at fair value through profit or loss | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 9,378,374 | 5,293,807 |
Investment funds | Derivative assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 0 | 0 |
Investment funds | Securities at fair value through other comprehensive income | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 0 | 32,279 |
Investment funds | Securities at amortized cost | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 0 | 0 |
Investment funds | Other assets | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the assets | 58,948 | 34,333 |
Investment funds | Liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 0 | 0 |
Investment funds | Derivative liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | 0 | 0 |
Investment funds | Other liabilities | ||
Carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities [Line Items] | ||
Carrying amounts of the liabilities | ₩ 0 | ₩ 0 |
Exposure to risk relating to it
Exposure to risk relating to its interests in unconsolidated structured entities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Unconsolidated structured entities | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | ₩ 36,262,869 | ₩ 30,257,127 |
Unconsolidated structured entities | Assets held | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 32,219,449 | 25,342,850 |
Unconsolidated structured entities | ABS and ABCP commitments | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 2,079,505 | 2,000,311 |
Unconsolidated structured entities | Loan commitments [Member] | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 1,701,424 | 2,633,660 |
Unconsolidated structured entities | Guarantees | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 143,522 | 230,842 |
Unconsolidated structured entities | Others | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 118,969 | 49,464 |
Assets-backed securitization | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 13,760,004 | 14,562,866 |
Assets-backed securitization | Assets held | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 11,565,871 | 11,286,989 |
Assets-backed securitization | ABS and ABCP commitments | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 1,208,707 | 1,395,417 |
Assets-backed securitization | Loan commitments [Member] | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 845,904 | 1,791,650 |
Assets-backed securitization | Guarantees | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 139,522 | 88,810 |
Assets-backed securitization | Others | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 0 | 0 |
Structured financing | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 11,533,021 | 8,868,823 |
Structured financing | Assets held | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 10,552,232 | 7,859,117 |
Structured financing | ABS and ABCP commitments | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 2,300 | 2,300 |
Structured financing | Loan commitments [Member] | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 855,520 | 815,910 |
Structured financing | Guarantees | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 4,000 | 142,032 |
Structured financing | Others | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 118,969 | 49,464 |
Investment funds | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 10,969,844 | 6,825,438 |
Investment funds | Assets held | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 10,101,346 | 6,196,744 |
Investment funds | ABS and ABCP commitments | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 868,498 | 602,594 |
Investment funds | Loan commitments [Member] | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 0 | 26,100 |
Investment funds | Guarantees | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 0 | 0 |
Investment funds | Others | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | ₩ 0 | ₩ 0 |
Fair values of assets acquired
Fair values of assets acquired and liabilities assumed as of acquisition date (Details) ₩ in Millions | Dec. 31, 2019KRW (₩) |
Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | ₩ 2,932,259 |
Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 130,995 |
Shinhan Vietnam Finance Company Limited | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 63,042 |
Assets | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 33,222,025 |
Assets | Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 175,566 |
Assets | Shinhan Vietnam Finance Company Limited | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 293,403 |
Cash and due from banks at amortized cost | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 739,071 |
Cash and due from banks at amortized cost | Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 27,647 |
Cash and due from banks at amortized cost | Shinhan Vietnam Finance Company Limited | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 12,271 |
Financial assets at fair value through profit or loss | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 1,573,453 |
Financial assets at fair value through profit or loss | Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 53,477 |
Securities at fair value through other comprehensive income | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 11,111,395 |
Securities at amortized cost | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 11,273,999 |
Loans at amortized cost | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 2,588,588 |
Loans at amortized cost | Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 26,197 |
Loans at amortized cost | Shinhan Vietnam Finance Company Limited | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 259,082 |
Derivative assets | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 13,934 |
Property and equipment | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 35,489 |
Property and equipment | Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 662 |
Property and equipment | Shinhan Vietnam Finance Company Limited | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 4,163 |
Intangible assets | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 38,475 |
Intangible assets | Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 40,649 |
Intangible assets | Shinhan Vietnam Finance Company Limited | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 5,629 |
Investment property | Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 13,567 |
Other assets | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 5,847,621 |
Other assets | Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 13,367 |
Other assets | Shinhan Vietnam Finance Company Limited | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | 12,258 |
Liabilities | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | (30,289,766) |
Liabilities | Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | (44,571) |
Liabilities | Shinhan Vietnam Finance Company Limited | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | (230,361) |
Deposits | Shinhan Vietnam Finance Company Limited | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | (211,325) |
Liabilities under insurance contracts | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | (24,187,474) |
Derivative liabilities | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | (3,991) |
Other liabilities | Orange Life Insurance Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | (6,098,301) |
Other liabilities | Asia Trust Co., Ltd. | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | (44,571) |
Other liabilities | Shinhan Vietnam Finance Company Limited | |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | |
Fair value of the identifiable net assets | ₩ (19,036) |
Goodwill recognized as a result
Goodwill recognized as a result of business combination (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Goodwill recognized as a result of business combination [Line Items] | |||
Goodwill | ₩ 871,285 | ₩ 2,258 | |
Orange Life Insurance Co., Ltd. | |||
Goodwill recognized as a result of business combination [Line Items] | |||
Consideration transferred in cash | 2,298,900 | ||
Fair value of identifiable net assets | 2,932,259 | ||
Noncontrolling Interest | [1] | 1,197,935 | |
Goodwill | 564,576 | ||
Asia Trust Co., Ltd. | |||
Goodwill recognized as a result of business combination [Line Items] | |||
Consideration transferred in cash | 193,400 | ||
Fair value of identifiable net assets | 130,995 | ||
Noncontrolling Interest | [1] | 52,398 | |
Goodwill | 114,803 | ||
Shinhan Vietnam Finance Company Limited | |||
Goodwill recognized as a result of business combination [Line Items] | |||
Consideration transferred in cash | 170,194 | ||
Fair value of identifiable net assets | 63,042 | ||
Goodwill | ₩ 107,152 | ||
[1] | The non-controlling interests in Orange Life Insurance Co., Ltd and Asia Trust Co., Ltd was measured as a proportionate shares of the non-controlling interests in the identifiable net assets at acquisition date. |
Net cash outflows due to busine
Net cash outflows due to business combination (Detail) ₩ in Millions | 12 Months Ended |
Dec. 31, 2019KRW (₩) | |
Orange Life Insurance Co., Ltd. | |
Net cash outflows due to business combination [Line Items] | |
Consideration transferred in cash | ₩ 2,298,900 |
Acquired cash and cash equivalents | (154,754) |
Net cash outflows | 2,144,146 |
Asia Trust Co., Ltd. | |
Net cash outflows due to business combination [Line Items] | |
Consideration transferred in cash | 193,400 |
Acquired cash and cash equivalents | (18,647) |
Net cash outflows | 174,753 |
Shinhan Vietnam Finance Company Limited | |
Net cash outflows due to business combination [Line Items] | |
Consideration transferred in cash | 170,194 |
Acquired cash and cash equivalents | (12,271) |
Net cash outflows | ₩ 157,923 |
Difference between the amount o
Difference between the amount of operating lease agreements (Details) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2019KRW (₩) | ||
Operating Lease Liabilities, Gross Difference, Amount [Abstract] | ||
Operating lease agreement commitment disclosed as of December 31, 2018 | ₩ 610,080 | |
Amount discounted using the Group's incremental borrowing rate | 591,725 | |
Low-value leases recognized as current expenses through the straight-line method | (3,454) | |
Value-added Tax | (51,429) | |
Lease liabilities recognized at the beginning of 2019 | ₩ 536,842 | [1] |
[1] | Right-of-use assets were measured by adjusting the amount of prepaid or unpaid lease payments in relation to leases recognized in the consolidated statement of financial position at the same amount as the lease liability. As a result, property, plant and equipment increased by W573,823 million at the beginning of 2019, and prepaid expense, unearned revenue and accrued expenses decreased by W42,196 million, W5,197 million and W17 million, respectively. |
Changes in equity due to applic
Changes in equity due to application of IFRS 9 and 15 : Retained Earnings (Details) - KRW (₩) ₩ in Millions | Jan. 01, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Changes in equity due to application of IFRS 9 and 15 [Line Items] | ||||||
Equity at January 1, 2018 before changes | ₩ 41,930,381 | ₩ 36,651,430 | ₩ 33,703,617 | ₩ 31,744,980 | ||
Adjustments of equity due to the application of IFRS 9: | ||||||
Effect of overlay approach application | 216,492 | (72,869) | ||||
Equity attributable to equity holders of Shinhan Financial Group Co., Ltd. | ||||||
Changes in equity due to application of IFRS 9 and 15 [Line Items] | ||||||
Equity at January 1, 2018 before changes | 39,177,946 | 35,725,625 | 32,820,220 | 31,109,698 | ||
Retained Earnings | ||||||
Changes in equity due to application of IFRS 9 and 15 [Line Items] | ||||||
Equity at January 1, 2018 before changes | ₩ 20,791,680 | 25,525,821 | 22,959,440 | 20,791,680 | 18,640,038 | |
Adjustments of equity due to the application of IFRS 9: | ||||||
Reclassification from financial assets at amortized cost to financial assets measured at fair value through profit or loss | (74,061) | |||||
Reclassification from available-for-sale financial assets to financial assets measured at fair value through profit or loss | 178,518 | |||||
Reclassification from available-for-sale financial assets to financial assets measured at fair value through other comprehensive income | [1],[2] | 204,457 | ||||
Increase in loss allowance for financial assets measured at amortized cost | (573,088) | |||||
Increase in loss allowance for loan commitments and financial guarantee contracts | (55,274) | |||||
Increase in loss allowance for debt instruments measured at fair value through other comprehensive income | (18,976) | |||||
Effect of overlay approach application | 34,102 | |||||
Others | [3],[4] | (40,063) | ||||
Adjustments of equity due to the application of IFRS 9, Total | (344,385) | |||||
Adjustments of equity due to the application of IFRS 15 | [5] | (2,895) | ||||
Tax effects | [6] | 95,426 | ||||
Equity at January 1, 2018 after changes | 20,539,826 | |||||
Accumulated Other Comprehensive Income (loss) | ||||||
Changes in equity due to application of IFRS 9 and 15 [Line Items] | ||||||
Equity at January 1, 2018 before changes | (529,734) | ₩ (260,156) | ₩ (753,220) | ₩ (529,734) | ₩ (102,583) | |
Adjustments of equity due to the application of IFRS 9: | ||||||
Reclassification from available-for-sale financial assets to financial assets measured at fair value through profit or loss | (178,518) | |||||
Reclassification from available-for-sale financial assets to financial assets measured at fair value through other comprehensive income | [1],[2] | (204,457) | ||||
Increase in loss allowance for debt instruments measured at fair value through other comprehensive income | 18,976 | |||||
Effect of overlay approach application | (34,102) | |||||
Others | [3],[4] | 11,039 | ||||
Adjustments of equity due to the application of IFRS 9, Total | (387,062) | |||||
Tax effects | [6] | 110,051 | ||||
Equity at January 1, 2018 after changes | ₩ (806,745) | |||||
[1] | The effect on retained earnings arising from the recognition of impairment losses related to equity securities in the prior periods was transferred to other comprehensive income upon the application of IFRS 9. | |||||
[2] | With the application of IFRS 9, the effect of retained earnings of the recognized impairment from equity securities has reclassified to other comprehensive income. | |||||
[3] | Include translation of foreign currencies, etc. | |||||
[4] | Other adjustments include foreign currency translation and changes in non-controlling interests, resulting from the adoption of IFRS 9. | |||||
[5] | The Group has divided the trust fees into trust sales fees and trust managing fees and recognition of trust managing fees are deferred. | |||||
[6] | Tax effects due to the application of IFRS 9 are separately shown. |
Reclassification of financial i
Reclassification of financial instruments upon adoption of IFRS 9 (Details) ₩ in Millions | Jan. 01, 2018KRW (₩) |
Due from banks | |
Amount under IAS 39: | |
Loans and receivables | ₩ 20,890,125 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 833,942 |
Financial assets measured at amortized cost | 19,988,001 |
Difference | (68,182) |
Loans | |
Amount under IAS 39: | |
Loans and receivables | 277,876,371 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 778,985 |
Financial assets measured at amortized cost | 277,126,029 |
Difference | 28,643 |
Other financial assets | |
Amount under IAS 39: | |
Loans and receivables | 12,090,983 |
Amount under IFRS 9: | |
Financial assets measured at amortized cost | 12,090,983 |
Difference | 0 |
Trading assets | Debt securities | |
Amount under IAS 39: | |
Financial assets at FVTPL | 23,640,646 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 23,640,646 |
Difference | 0 |
Trading assets | Equity securities | |
Amount under IAS 39: | |
Financial assets at FVTPL | 4,634,353 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 4,634,353 |
Difference | 0 |
Trading assets | Gold deposits | |
Amount under IAS 39: | |
Financial assets at FVTPL | 189,297 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 189,297 |
Difference | 0 |
Financial assets designated at FVTPL(IAS39) | Debt securities | |
Amount under IAS 39: | |
Financial assets at FVTPL | 2,110,810 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 2,030,522 |
Financial assets designated as at FVTPL | 80,288 |
Difference | 0 |
Financial assets designated at FVTPL(IAS39) | Equity securities | |
Amount under IAS 39: | |
Financial assets at FVTPL | 1,234,356 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 1,162,553 |
Financial assets designated as at FVTPL | 71,803 |
Difference | 0 |
Financial assets designated at FVTPL(IAS39) | Hybrid financial assets | |
Amount under IAS 39: | |
Financial assets at FVTPL | 233,892 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 233,892 |
Difference | 0 |
Derivatives | |
Amount under IAS 39: | |
Financial assets at FVTPL | 3,400,178 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 3,348,803 |
Difference | (51,375) |
Available-for-sale financial assets | Debt securities | |
Amount under IAS 39: | |
AFS financial assets | 37,186,552 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 533,452 |
Financial assets measured at FVOCI | 36,657,807 |
Difference | 4,707 |
Available-for-sale financial assets | Equity securities | |
Amount under IAS 39: | |
AFS financial assets | 4,930,384 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 4,350,969 |
Financial assets measured at FVOCI | 590,405 |
Difference | 10,990 |
HTM financial assets | Debt securities | |
Amount under IAS 39: | |
HTM financial assets | 24,990,680 |
Amount under IFRS 9: | |
Financial assets measured at FVTPL | 529,906 |
Financial assets measured at amortized cost | 24,424,867 |
Difference | (35,907) |
Deposits | |
Amount under IAS 39: | |
Financial liabilities measured at amortized cost | 249,419,224 |
Amount under IFRS 9: | |
Financial liabilities measured at amortized cost | 249,419,224 |
Difference | 0 |
Trading liabilities | |
Amount under IAS 39: | |
Financial liabilities at FVTPL | 1,848,490 |
Amount under IFRS 9: | |
Financial liabilities measured at FVPTL | 1,848,490 |
Difference | 0 |
Financial liabilities designated at FVTPL(IAS39) | |
Amount under IAS 39: | |
Financial liabilities at FVTPL | 8,297,609 |
Amount under IFRS 9: | |
Financial liabilities measured at FVPTL | 36,973 |
Financial liabilities designated as at FVTPL | 8,260,636 |
Difference | 0 |
Derivatives | |
Amount under IAS 39: | |
Financial liabilities at FVTPL | 3,487,661 |
Amount under IFRS 9: | |
Financial liabilities measured at FVPTL | 3,483,642 |
Difference | (4,019) |
Borrowings | |
Amount under IAS 39: | |
Financial liabilities measured at amortized cost | 27,586,610 |
Amount under IFRS 9: | |
Financial liabilities measured at amortized cost | 27,586,313 |
Difference | (297) |
Debt securities issued | |
Amount under IAS 39: | |
Financial liabilities measured at amortized cost | 51,340,821 |
Amount under IFRS 9: | |
Financial liabilities measured at amortized cost | 51,340,821 |
Difference | 0 |
Others | |
Amount under IAS 39: | |
Financial liabilities measured at amortized cost | 20,124,451 |
Amount under IFRS 9: | |
Financial liabilities measured at amortized cost | 20,124,432 |
Difference | ₩ (19) |
Impairment of financial assets
Impairment of financial assets upon adoption of IFRS 9 (Details) ₩ in Millions | Jan. 01, 2018KRW (₩) |
Financial assets | |
Amount under IAS 39: | |
Loss allowance based on IAS 39 | ₩ 2,374,337 |
Amount under IFRS 9: | |
Financial assets measured at amortized cost | 2,947,425 |
Financial assets at measured FVOCI | 18,976 |
Due from banks | |
Amount under IAS 39: | |
Loss allowance based on IAS 39 | 14,054 |
Amount under IFRS 9: | |
Financial assets measured at amortized cost | 15,062 |
Loans | |
Amount under IAS 39: | |
Loss allowance based on IAS 39 | 2,310,604 |
Amount under IFRS 9: | |
Financial assets measured at amortized cost | 2,871,986 |
Other financial assets | |
Amount under IAS 39: | |
Loss allowance based on IAS 39 | 49,679 |
Amount under IFRS 9: | |
Financial assets measured at amortized cost | 51,818 |
Available-for-sale financial assets | Debt securities | |
Amount under IFRS 9: | |
Financial assets at measured FVOCI | 18,976 |
HTM financial assets | Debt securities | |
Amount under IFRS 9: | |
Financial assets measured at amortized cost | 8,559 |
Contingent liabilities [Member] | |
Amount under IAS 39: | |
Loss allowance based on IAS 39 | 204,512 |
Amount under IFRS 9: | |
Financial guarantee | 37,289 |
Unused credit line and other credit commitment | 222,498 |
Financial guarantee contract | |
Amount under IAS 39: | |
Loss allowance based on IAS 39 | 36,506 |
Amount under IFRS 9: | |
Financial guarantee | 37,289 |
Unused credit line and other credit commitment | |
Amount under IAS 39: | |
Loss allowance based on IAS 39 | 168,006 |
Amount under IFRS 9: | |
Unused credit line and other credit commitment | ₩ 222,498 |
The reclassification of financi
The reclassification of financial assets due to adoption of IFRS 9 (Details) ₩ in Millions | Jan. 01, 2018KRW (₩) |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | ₩ 413,408,627 |
Amount remeasured | (111,124) |
Carrying value based on the new standard | 413,297,503 |
Changes in retained earnings | 343,016 |
Changes in other comprehensive income | (417,077) |
Due from banks | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 20,890,125 |
Amount reclassified | (902,124) |
Carrying value based on the new standard | 19,988,001 |
Due from banks | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 20,890,125 |
Carrying value based on the new standard | 20,890,125 |
Due from banks | Reclassification to financial assets measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (902,124) |
Carrying value based on the new standard | (902,124) |
Loans | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 277,876,371 |
Amount reclassified | (750,342) |
Carrying value based on the new standard | 277,126,029 |
Loans | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 277,876,371 |
Carrying value based on the new standard | 277,876,371 |
Loans | Reclassification to financial assets measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (750,342) |
Carrying value based on the new standard | (750,342) |
Other financial assets | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 12,090,983 |
Carrying value based on the new standard | 12,090,983 |
Trading assets | Debt securities | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 23,640,646 |
Amount reclassified | (23,640,646) |
Trading assets | Debt securities | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 23,640,646 |
Carrying value based on the new standard | 23,640,646 |
Trading assets | Debt securities | Reclassification to financial assets measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (23,640,646) |
Carrying value based on the new standard | (23,640,646) |
Trading assets | Equity securities | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 4,634,353 |
Amount reclassified | (4,634,353) |
Trading assets | Equity securities | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 4,634,353 |
Carrying value based on the new standard | 4,634,353 |
Trading assets | Equity securities | Reclassification to financial assets measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (4,634,353) |
Carrying value based on the new standard | (4,634,353) |
Trading assets | Gold deposits | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 189,297 |
Amount reclassified | (189,297) |
Trading assets | Gold deposits | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 189,297 |
Carrying value based on the new standard | 189,297 |
Trading assets | Gold deposits | Reclassification to financial assets measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (189,297) |
Carrying value based on the new standard | (189,297) |
Derivatives | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 3,400,178 |
Amount reclassified | (51,375) |
Carrying value based on the new standard | 3,348,803 |
Derivatives | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 3,400,178 |
Carrying value based on the new standard | 3,400,178 |
Derivatives | Reclassification to financial assets measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (51,375) |
Carrying value based on the new standard | (51,375) |
Financial assets designated at FVTPL(IAS39) | Debt securities | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 3,579,057 |
Amount reclassified | (3,579,057) |
Financial assets designated at FVTPL(IAS39) | Debt securities | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 3,579,057 |
Carrying value based on the new standard | 3,579,057 |
Financial assets designated at FVTPL(IAS39) | Debt securities | Reclassification to financial assets measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (3,426,966) |
Carrying value based on the new standard | (3,426,966) |
Financial assets designated at FVTPL(IAS39) | Debt securities | Reclassification to financial assets designated at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (152,091) |
Carrying value based on the new standard | (152,091) |
Available-for-sale financial assets | Debt securities | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 37,186,552 |
Amount reclassified | (37,186,552) |
Available-for-sale financial assets | Debt securities | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 37,186,552 |
Carrying value based on the new standard | 37,186,552 |
Available-for-sale financial assets | Debt securities | Reclassification to financial assets measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (528,745) |
Carrying value based on the new standard | (528,745) |
Available-for-sale financial assets | Debt securities | Reclassification to financial assets measured at FVOCI | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (36,657,807) |
Carrying value based on the new standard | (36,657,807) |
Available-for-sale financial assets | Equity securities | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 4,930,385 |
Amount reclassified | (4,930,385) |
Available-for-sale financial assets | Equity securities | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 4,930,385 |
Carrying value based on the new standard | 4,930,385 |
Available-for-sale financial assets | Equity securities | Reclassification to financial assets measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (4,339,979) |
Carrying value based on the new standard | (4,339,979) |
Available-for-sale financial assets | Equity securities | Reclassification to financial assets measured at FVOCI | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (590,405) |
Carrying value based on the new standard | (590,405) |
HTM financial assets | Debt securities | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 24,990,680 |
Amount reclassified | (24,990,680) |
HTM financial assets | Debt securities | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 24,990,680 |
Carrying value based on the new standard | 24,990,680 |
HTM financial assets | Debt securities | Reclassification to financial assets measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (565,813) |
Carrying value based on the new standard | (565,813) |
HTM financial assets | Debt securities | Reclassification to financial assets measured at amortized cost | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (24,424,867) |
Carrying value based on the new standard | (24,424,867) |
Financial assets as measured at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 39,029,641 |
Amount remeasured | (111,124) |
Carrying value based on the new standard | 38,918,517 |
Changes in retained earnings | 138,559 |
Changes in other comprehensive income | (212,620) |
Financial assets as measured at FVTPL | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 0 |
Amount remeasured | 0 |
Carrying value based on the new standard | 0 |
Changes in retained earnings | 0 |
Changes in other comprehensive income | 0 |
Financial assets as measured at FVTPL | Transfer from due from banks | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 902,124 |
Amount remeasured | (68,182) |
Carrying value based on the new standard | 833,942 |
Changes in other comprehensive income | (68,182) |
Financial assets as measured at FVTPL | Transfer from loans and other receivables | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 750,342 |
Amount remeasured | 30,027 |
Carrying value based on the new standard | 780,369 |
Changes in retained earnings | 30,027 |
Financial assets as measured at FVTPL | Transfer from trading assets | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 28,464,296 |
Carrying value based on the new standard | 28,464,296 |
Financial assets as measured at FVTPL | Transfer from financial assets designated at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 3,426,967 |
Carrying value based on the new standard | 3,426,967 |
Financial assets as measured at FVTPL | Transfer from AFS | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 4,868,724 |
Amount remeasured | 7,708 |
Carrying value based on the new standard | 4,876,432 |
Changes in retained earnings | 108,532 |
Changes in other comprehensive income | (108,532) |
Financial assets as measured at FVTPL | Transfer from HTM | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 565,813 |
Amount remeasured | (35,907) |
Carrying value based on the new standard | 529,906 |
Changes in other comprehensive income | (35,907) |
Financial assets as measured at FVTPL | Transfer from derivative assets | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 51,375 |
Amount remeasured | (42,195) |
Carrying value based on the new standard | 9,180 |
Financial assets as measured at FVTPL | Transfer from others | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount remeasured | (2,575) |
Carrying value based on the new standard | (2,575) |
Financial assets designated at fair value through profit or loss(IFRS9) | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 152,091 |
Carrying value based on the new standard | 152,091 |
Financial assets designated at fair value through profit or loss(IFRS9) | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 0 |
Amount reclassified | 0 |
Amount remeasured | 0 |
Carrying value based on the new standard | 0 |
Changes in retained earnings | 0 |
Changes in other comprehensive income | 0 |
Financial assets designated at fair value through profit or loss(IFRS9) | Transfer from financial assets designated at FVTPL | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 152,091 |
Carrying value based on the new standard | 152,091 |
Financial assets at fair value through other comprehensive income | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 37,248,212 |
Carrying value based on the new standard | 37,248,212 |
Changes in retained earnings | 204,457 |
Changes in other comprehensive income | (204,457) |
Financial assets at fair value through other comprehensive income | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 0 |
Amount reclassified | 0 |
Amount remeasured | 0 |
Carrying value based on the new standard | 0 |
Changes in retained earnings | 0 |
Changes in other comprehensive income | 0 |
Financial assets at fair value through other comprehensive income | Transfer from AFS | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 37,248,212 |
Carrying value based on the new standard | 37,248,212 |
Changes in retained earnings | 204,457 |
Changes in other comprehensive income | (204,457) |
Financial assets measured at amortized cost | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 24,424,867 |
Carrying value based on the new standard | 24,424,867 |
Financial assets measured at amortized cost | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 0 |
Amount reclassified | 0 |
Amount remeasured | 0 |
Carrying value based on the new standard | 0 |
Changes in retained earnings | 0 |
Changes in other comprehensive income | 0 |
Financial assets measured at amortized cost | Transfer from HTM | |
The reclassification of financial assets due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 24,424,867 |
Carrying value based on the new standard | ₩ 24,424,867 |
The reclassification of finan_2
The reclassification of financial liabilities due to adoption of IFRS 9 (Details) ₩ in Millions | Jan. 01, 2018KRW (₩) |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | ₩ 362,104,866 |
Amount remeasured | (4,335) |
Carrying value based on the new standard | 362,100,531 |
Deposits | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 249,419,224 |
Carrying value based on the new standard | 249,419,224 |
Trading liabilities | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 1,848,490 |
Amount reclassified | (1,848,490) |
Trading liabilities | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 1,848,490 |
Carrying value based on the new standard | 1,848,490 |
Trading liabilities | Reclassification to financial liabilities measured at FVTPL | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (1,848,490) |
Carrying value based on the new standard | (1,848,490) |
Financial liabilities designated at FVTPL(IAS39) | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 8,297,609 |
Amount reclassified | (8,297,609) |
Financial liabilities designated at FVTPL(IAS39) | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 8,297,609 |
Carrying value based on the new standard | 8,297,609 |
Financial liabilities designated at FVTPL(IAS39) | Reclassification to financial liabilities measured at FVTPL | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (36,973) |
Carrying value based on the new standard | (36,973) |
Financial liabilities designated at FVTPL(IAS39) | Reclassification to financial liabilities designated at FVTPL | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | (8,260,636) |
Carrying value based on the new standard | (8,260,636) |
Financial liabilities measured at FVTPL | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 1,885,463 |
Carrying value based on the new standard | 1,885,463 |
Financial liabilities measured at FVTPL | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 0 |
Amount reclassified | 0 |
Amount remeasured | 0 |
Carrying value based on the new standard | 0 |
Changes in retained earnings | 0 |
Changes in other comprehensive income | 0 |
Financial liabilities measured at FVTPL | Transfer from trading liabilities | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 1,848,490 |
Carrying value based on the new standard | 1,848,490 |
Financial liabilities measured at FVTPL | Transfer from financial liabilities designated at FVTPL | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 36,973 |
Carrying value based on the new standard | 36,973 |
Financial liabilities designated at fair value through profit or loss(IFRS9) | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 8,260,636 |
Carrying value based on the new standard | 8,260,636 |
Financial liabilities designated at fair value through profit or loss(IFRS9) | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 0 |
Amount reclassified | 0 |
Amount remeasured | 0 |
Carrying value based on the new standard | 0 |
Changes in retained earnings | 0 |
Changes in other comprehensive income | 0 |
Financial liabilities designated at fair value through profit or loss(IFRS9) | Transfer from financial liabilities designated at FVTPL | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount reclassified | 8,260,636 |
Carrying value based on the new standard | 8,260,636 |
Derivative liabilities | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 3,487,661 |
Amount remeasured | (4,019) |
Carrying value based on the new standard | 3,483,642 |
Derivative liabilities | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 3,487,661 |
Carrying value based on the new standard | 3,487,661 |
Derivative liabilities | Other | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount remeasured | (4,019) |
Carrying value based on the new standard | (4,019) |
Borrowings | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 27,586,610 |
Amount remeasured | (297) |
Carrying value based on the new standard | 27,586,313 |
Borrowings | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 27,586,610 |
Carrying value based on the new standard | 27,586,610 |
Borrowings | Other | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount remeasured | (297) |
Carrying value based on the new standard | (297) |
Debt securities issued | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 51,340,821 |
Carrying value based on the new standard | 51,340,821 |
Other financial liabilities | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 20,124,451 |
Amount remeasured | (19) |
Carrying value based on the new standard | 20,124,432 |
Other financial liabilities | Carrying value under IAS 39 as of January 1, 2018 | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 20,124,451 |
Carrying value based on the new standard | 20,124,451 |
Other financial liabilities | Other | |
The reclassification of financial liabilities due to adoption of IFRS 9 [Line Items] | |
Amount remeasured | (19) |
Carrying value based on the new standard | ₩ (19) |
The reclassification of credit
The reclassification of credit loss allowance due to adoption of IFRS 9 (Details) ₩ in Millions | Jan. 01, 2018KRW (₩) |
The reclassification of credit loss allowance due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | ₩ 2,578,849 |
Amount reclassified | (3,328) |
Amount remeasured | 650,667 |
Carrying value based on the new standard | 3,226,188 |
Changes in retained earnings | (647,339) |
Changes in other comprehensive income | 18,976 |
Due from banks | |
The reclassification of credit loss allowance due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 14,054 |
Amount reclassified | 0 |
Amount remeasured | 1,008 |
Carrying value based on the new standard | 15,062 |
Changes in retained earnings | (1,008) |
Changes in other comprehensive income | 0 |
Loans | |
The reclassification of credit loss allowance due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 2,310,604 |
Amount reclassified | (3,328) |
Amount remeasured | 564,710 |
Carrying value based on the new standard | 2,871,986 |
Changes in retained earnings | (561,382) |
Changes in other comprehensive income | 0 |
Financial assets at fair value through other comprehensive income | Debt securities | |
The reclassification of credit loss allowance due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 0 |
Amount reclassified | 0 |
Amount remeasured | 18,976 |
Carrying value based on the new standard | 18,976 |
Changes in retained earnings | (18,976) |
Changes in other comprehensive income | 18,976 |
Financial assets measured at amortized cost | Debt securities | |
The reclassification of credit loss allowance due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 0 |
Amount reclassified | 0 |
Amount remeasured | 8,559 |
Carrying value based on the new standard | 8,559 |
Changes in retained earnings | (8,559) |
Changes in other comprehensive income | 0 |
Other financial assets | |
The reclassification of credit loss allowance due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 49,679 |
Amount reclassified | 0 |
Amount remeasured | 2,139 |
Carrying value based on the new standard | 51,818 |
Changes in retained earnings | (2,139) |
Changes in other comprehensive income | 0 |
Financial guarantee | |
The reclassification of credit loss allowance due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 36,506 |
Amount reclassified | 0 |
Amount remeasured | 783 |
Carrying value based on the new standard | 37,289 |
Changes in retained earnings | (783) |
Changes in other comprehensive income | 0 |
Unused credit line and other credit commitment | |
The reclassification of credit loss allowance due to adoption of IFRS 9 [Line Items] | |
Carrying value based on the current standard | 168,006 |
Amount reclassified | 0 |
Amount remeasured | 54,492 |
Carrying value based on the new standard | 222,498 |
Changes in retained earnings | (54,492) |
Changes in other comprehensive income | ₩ 0 |
Effect on the consolidated stat
Effect on the consolidated statement of financial position (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Provisions | ||
Card point | ₩ 0 | |
Other liabilities | ||
Accounts payable | ₩ 11,894,764 | 9,748,168 |
Unearned income | 294,710 | 236,827 |
Sundry liabilities | ₩ 1,968,823 | 2,496,169 |
Amount before implementation of IFRS15 | ||
Provisions | ||
Card point | 24,700 | |
Other liabilities | ||
Accounts payable | 9,789,926 | |
Unearned income | 446,068 | |
Sundry liabilities | 2,220,471 | |
Increase (decrease) due to application of IFRS 15 | ||
Provisions | ||
Card point | (24,700) | |
Other liabilities | ||
Accounts payable | (41,758) | |
Unearned income | (209,241) | |
Sundry liabilities | ₩ 275,698 |
Effect on the consolidated st_2
Effect on the consolidated statement of comprehensive income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fees and commission income: | |||
Credit card fees | ₩ 1,234,239 | ₩ 1,360,322 | ₩ 2,369,745 |
Fees and commission expense: | |||
Credit card fees | ₩ (915,521) | (944,533) | ₩ (1,988,826) |
Amount before implementation of IFRS15 | |||
Fees and commission income: | |||
Credit card fees | 2,495,837 | ||
Fees and commission expense: | |||
Credit card fees | (2,080,048) | ||
Increase (decrease) due to application of IFRS 15 | |||
Fees and commission income: | |||
Credit card fees | (1,135,515) | ||
Fees and commission expense: | |||
Credit card fees | ₩ 1,135,515 |
Condensed Shinhan Financial G_3
Condensed Shinhan Financial Group (Parent Company only) Statement of Financial Position (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Investment (at equity) in subsidiaries: | ||
Financial assets at FVTPL | ₩ 53,163,143 | ₩ 43,534,766 |
Derivative assets | 2,829,274 | 1,793,613 |
Other assets: | ||
Other | 27,878,281 | 21,571,918 |
Total assets | 552,419,581 | 459,600,510 |
Liabilities | ||
Borrowings | 34,863,156 | 29,818,542 |
Borrowings debts | 75,363,364 | 63,227,699 |
Derivative liabilities | 2,303,012 | 2,439,892 |
Accrued expenses & other liabilities | 38,237,558 | 25,199,679 |
Total liabilities | 510,489,200 | 422,949,080 |
Equity | ||
Total equity | 41,930,381 | 36,651,430 |
Total liabilities and equity | 552,419,581 | 459,600,510 |
Parent Company only | ||
Deposits [Abstract] | ||
Banking subsidiaries | 167 | 24 |
Other | 0 | 48,572 |
Receivables from subsidiaries: | ||
Non-banking subsidiaries | 2,219,698 | 1,644,666 |
Investment (at equity) in subsidiaries: | ||
Banking subsidiaries | 13,797,222 | 13,792,072 |
Non-banking subsidiaries | 15,183,053 | 11,983,360 |
Financial assets at FVTPL | 443,377 | 1,927,150 |
Derivative assets | 24,352 | 0 |
Property, equipment and intangible assets, net | 11,106 | 7,983 |
Other assets: | ||
Banking subsidiaries | 408,436 | 311,052 |
Non-banking subsidiaries | 171,321 | 162,695 |
Other | 2,590 | 236,658 |
Total assets | 32,261,322 | 30,114,232 |
Liabilities | ||
Borrowings | 0 | 125,000 |
Borrowings debts | 9,147,640 | 7,812,358 |
Derivative liabilities | 17,687 | 0 |
Accrued expenses & other liabilities | 630,569 | 526,806 |
Total liabilities | 9,795,896 | 8,464,164 |
Equity | ||
Total equity | 22,465,426 | 21,650,068 |
Total liabilities and equity | ₩ 32,261,322 | ₩ 30,114,232 |
Condensed Shinhan Financial G_4
Condensed Shinhan Financial Group (Parent Company only) Statement of Income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Expenses | |||
Interest expense | ₩ (5,969,398) | ₩ (4,992,367) | ₩ (3,955,701) |
Profit before income taxes | 4,911,508 | 4,466,610 | 3,797,608 |
Income tax expense | 1,269,124 | 1,268,345 | 848,403 |
Profit for the year | 3,642,384 | 3,198,265 | 2,949,205 |
Parent Company only | |||
Income | |||
Dividends from banking subsidiaries | 892,310 | 541,524 | 481,524 |
Dividends from non-banking subsidiaries | 428,634 | 866,150 | 448,588 |
Interest income from banking subsidiaries | 263 | 268 | 228 |
Interest income from non-banking subsidiaries | 38,968 | 31,224 | 27,111 |
Other income | 125,324 | 74,215 | 51,953 |
Total income | 1,485,499 | 1,513,381 | 1,009,404 |
Expenses | |||
Interest expense | (206,815) | (187,882) | (179,330) |
Other expense | (147,589) | (89,145) | (74,733) |
Total expenses | (354,404) | (277,027) | (254,063) |
Profit before income taxes | 1,131,095 | 1,236,354 | 755,341 |
Income tax expense | 1,922 | 1,471 | 614 |
Profit for the year | ₩ 1,129,173 | ₩ 1,234,883 | ₩ 754,727 |
Condensed Shinhan Financial G_5
Condensed Shinhan Financial Group (Parent Company only) Statement of Cash Flows (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||
Profit before income taxes | ₩ 4,911,508 | ₩ 4,466,610 | ₩ 3,797,608 |
Non-cash items included in profit before tax | (5,499,341) | (5,531,693) | (3,996,302) |
Changes in operating assets and liabilities | 544,938 | 12,618,248 | 6,097,440 |
Net interest paid | (5,793,865) | (5,058,596) | (3,710,093) |
Dividend received from subsidiaries | 35,716 | 63,826 | 265,887 |
Income tax refunds | 1,130,148 | 850,696 | 664,286 |
Net cash provided by (used in) operating activities | 7,179,046 | (6,320,196) | 1,021,334 |
Cash flows from investing activities | |||
Other, net | (264,585) | (311,744) | (10,435) |
Net cash used in investing activities | (22,687,867) | (5,512,585) | (10,703,638) |
Cash flows from financing activities | |||
Issuance of convertible preferred shares | 747,791 | ||
Issuance of hybrid bonds | 199,476 | 1,107,838 | 224,466 |
Redemption of hybrid bonds | 0 | 0 | (300,000) |
Net changes in borrowings | 5,017,269 | 1,772,203 | 3,047,844 |
Issuance of debt securities issued | 31,083,390 | 26,487,712 | 20,006,957 |
Repayments of debt securities issued | (19,881,717) | (14,689,246) | (12,222,815) |
Dividends paid | (830,772) | (714,705) | (706,565) |
Acquisition of treasury stock | (444,077) | (151,993) | 0 |
Redemption of lease liabilities | (269,362) | ||
Net cash provided by (used in) financing activities | 15,878,811 | 13,806,527 | 10,332,453 |
Net increase (decrease) in cash and cash equivalents | 399,418 | 1,943,106 | 604,114 |
Cash and cash equivalents at beginning of year | 8,179,756 | 6,236,650 | 5,632,536 |
Cash and cash equivalents at end of year | 8,579,174 | 8,179,756 | 6,236,650 |
Parent Company only | |||
Cash flows from operating activities | |||
Profit before income taxes | 1,131,095 | 1,236,354 | 755,341 |
Non-cash items included in profit before tax | (1,164,022) | (1,251,379) | (774,385) |
Changes in operating assets and liabilities | 1,475,702 | (1,671,189) | (66,339) |
Net interest paid | (154,765) | (153,926) | (149,642) |
Dividend received from subsidiaries | 1,320,944 | 1,407,674 | 930,112 |
Income tax refunds | (194) | 0 | 100 |
Net cash provided by (used in) operating activities | 2,608,760 | (432,466) | 695,187 |
Cash flows from investing activities | |||
Net loan origination to non-banking subsidiaries | (575,936) | (412,630) | (300,000) |
Acquisition of subsidiary | (2,977,196) | (42,273) | (30,000) |
Other, net | (660) | (231,281) | (715) |
Net cash used in investing activities | (3,553,792) | (686,184) | (330,715) |
Cash flows from financing activities | |||
Issuance of convertible preferred shares | 747,791 | 0 | 0 |
Issuance of hybrid bonds | 199,476 | 1,107,838 | 224,466 |
Redemption of hybrid bonds | 0 | 0 | (300,000) |
Net changes in borrowings | (125,000) | 120,000 | 0 |
Issuance of debt securities issued | 3,194,764 | 2,396,138 | 1,497,588 |
Repayments of debt securities issued | (1,844,000) | (1,590,000) | (1,080,000) |
Dividends paid | (830,772) | (714,705) | (706,565) |
Acquisition of treasury stock | (444,077) | (151,993) | 0 |
Redemption of lease liabilities | (1,614) | 0 | 0 |
Net cash provided by (used in) financing activities | 896,568 | 1,167,278 | (364,511) |
Net increase (decrease) in cash and cash equivalents | (48,464) | 48,628 | (39) |
Cash and cash equivalents at beginning of year | 48,628 | 0 | 39 |
Cash and cash equivalents at end of year | ₩ 164 | ₩ 48,628 | ₩ 0 |