Document and entity information
Document and entity information | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
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 | 515,894,758 |
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 |
ICFR Auditor Attestation Flag | true |
ADS [Member] | |
Document Information [Line Items] | |
Trading Symbol | SHG |
Security 12b Title | American Depositary Shares |
Security Exchange Name | NYSE |
Common stocks [Member] | |
Document Information [Line Items] | |
Trading Symbol | SHG |
Security 12b Title | Common stock, par value Won 5,000 per share |
Security Exchange Name | NYSE |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Assets | |||
Cash and due from banks at amortized cost (Notes 4, 8 and 19) | ₩ 33,410,542 | ₩ 28,423,744 | |
Financial assets at fair value through profit or loss (Notes 4, 9 and 19) | 59,091,403 | 53,163,143 | |
Derivative assets (Notes 4 and 10) | 5,633,915 | 2,829,274 | |
Securities at fair value through other comprehensive income (Notes 4, 11 and 19) | 58,316,112 | 59,381,053 | |
Securities at amortized cost (Notes 4, 11 and 19) | 47,282,623 | 45,582,065 | |
Loans at amortized cost (Notes 4, 12 and 19) | 356,221,519 | 323,244,979 | |
Property and equipment (Notes 13, 18 and 19) | 3,989,697 | 4,083,328 | |
Intangible assets (Notes 14) | 5,480,619 | 5,558,714 | |
Investments in associates (Note 15) | 2,657,768 | 1,452,861 | |
Current tax receivable | 51,894 | 88,433 | |
Deferred tax assets (Note 41) | 215,345 | 218,254 | |
Investment property (Note 16) | 615,235 | 488,610 | |
Defined benefit assets (Note 25) | 18,374 | 1,682 | |
Other assets (Notes 4 and 17) | 32,194,666 | 27,878,281 | |
Assets held for sale | 54,392 | 25,160 | |
Total assets | 605,234,104 | 552,419,581 | |
Liabilities | |||
Deposits (Notes 4 and 20) | 326,416,868 | 294,874,256 | |
Financial liabilities at fair value through profit or loss (Notes 4 and 21) | 1,436,694 | 1,632,457 | |
Financial liabilities designated at fair value through profit or loss (Notes 4 and 22) | [1] | 8,455,724 | 9,409,456 |
Derivative liabilities (Notes 4 and 10) | 5,016,567 | 2,303,012 | |
Borrowings (Notes 4 and 23) | 41,594,064 | 34,863,156 | |
Debt securities issued (Notes 4 and 24) | 75,134,394 | 75,363,364 | |
Defined benefit liabilities (Note 25) | 62,514 | 121,140 | |
Provisions (Note 26) | 804,736 | 557,024 | |
Current tax payable | 389,586 | 512,757 | |
Deferred tax liabilities (Note 41) | 579,656 | 451,603 | |
Liabilities under insurance contracts (Note 27) | 53,460,230 | 52,163,417 | |
Other liabilities (Notes 4 and 28) | 45,526,213 | 38,237,558 | |
Total liabilities | 558,877,246 | 510,489,200 | |
Equity (Note 29) | |||
Capital stock | 2,969,641 | 2,732,463 | |
Hybrid bonds | 2,179,934 | 1,731,235 | |
Capital surplus | 12,234,939 | 10,565,353 | |
Capital adjustments | (687,935) | (1,116,770) | |
Accumulated other comprehensive loss | (404,181) | (260,156) | |
Retained earnings | [2],[3],[4] | 27,777,169 | 25,525,821 |
Total equity attributable to equity holders of Shinhan Financial Group Co., Ltd. | 44,069,567 | 39,177,946 | |
Non-controlling interests | [5],[6] | 2,287,291 | 2,752,435 |
Total equity | 46,356,858 | 41,930,381 | |
Total liabilities and equity | ₩ 605,234,104 | ₩ 552,419,581 | |
[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] | As of December 31, 2019 and 2020, profits reserved by the Group as of Article 53 of the Financial Holding Companies Act amounted to W2,191,677 million and W2,304,595 million, respectively. | ||
[3] | As of December 31, 2019 and 2020, the regulatory reserves for loan losses the Group appropriated in retained earnings are W8,728 million and W11,988 million, respectively. | ||
[4] | As of December 31, 2020, profit dividends within retained earnings of subsidiaries of the Group subject to a restricted dividend in accordance with laws, etc. are amounted to W6,824,002 million. | ||
[5] | As of December 31, 2019 and 2020, the total amounts of hybrid bonds that Shinhan Bank, Jeju Bank and Shinhan Capital have recognized as non-controlling interests are W1,147,635 million and W2,035,762 million, respectively. And, for the years ended December 31, 2019 and 2020, the amounts of dividends paid for the hybrid bonds by Shinhan Bank, Jeju Bank, and Shinhan Capital, W36,729 million and W54,619 million, respectively, are allocated to profit attributed to non-controlling interest. | ||
[6] | The non-controlling interest of W1,330,337 million decreased due to taking over for Orange Life Insurance Co.,Ltd. for the year ended December 31, 2020. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Interest income | ||||
Financial assets at fair value through other comprehensive income and at amortized cost | ₩ 13,943,159 | ₩ 14,878,516 | ₩ 12,891,850 | |
Financial assets at fair value through profit or loss | 830,837 | 828,846 | 680,606 | |
Interest income | 14,773,996 | 15,707,362 | 13,572,456 | |
Interest expense | (4,891,296) | (5,969,398) | (4,992,367) | |
Net interest income (Note 31) | 9,882,700 | 9,737,964 | 8,580,089 | |
Net fees and commission income | ||||
Fees and commission income | 3,814,474 | 3,557,013 | 3,295,256 | |
Fees and commission expense | (1,431,541) | (1,416,494) | (1,356,259) | |
Net fees and commission income (Note 32) | 2,382,933 | 2,140,519 | 1,938,997 | |
Net insurance loss | ||||
Insurance income | 7,247,753 | 7,569,425 | 4,398,738 | |
Insurance expenses | (7,851,685) | (8,066,351) | (4,870,437) | |
Net insurance loss (Note 27) | (603,932) | (496,926) | (471,699) | |
Dividend income (Note 33) | 97,956 | 82,158 | 87,826 | |
Net gain on financial instruments at fair value through profit or loss (Note 34) | 272,830 | 1,385,482 | 420,026 | |
Net gain (loss) on financial instruments at fair value through profit or loss (overlay approach) (Note 9) | (136,255) | (247,585) | 74,944 | |
Net gain (loss) on financial instruments designated at fair value through profit or loss (Note 35) | 198,239 | (846,046) | (26,643) | |
Net foreign currency transaction gain | 526,615 | 440,948 | 194,136 | |
Net gain on disposal of financial asset at fair value through other comprehensive income (Note 11) | 273,793 | 152,278 | 20,554 | |
Net gain (loss) on disposal of securities at amortized cost (Note 11) | (25) | 66 | (9) | |
Provision for allowance for credit loss (Note 36) | (1,382,179) | (980,692) | (747,877) | |
General and administrative expense (Note 37) | (5,212,473) | (5,134,674) | (4,741,575) | |
Other operating expenses, net (Note 39) | (1,370,466) | (1,187,242) | (829,355) | |
Operating income | 4,929,736 | 5,046,250 | 4,499,414 | |
Equity method income (Note 15) | 159,533 | 53,287 | 17,488 | |
Other non-operating income (expense), net (Note 40) | (335,398) | (188,029) | (50,292) | |
Profit before income taxes | 4,753,871 | 4,911,508 | 4,466,610 | |
Income tax expense (Note 41) | (1,255,795) | (1,269,124) | (1,268,345) | |
Profit for the year | 3,498,076 | 3,642,384 | 3,198,265 | |
Items that are or may be reclassified to profit or loss: | ||||
Gain (loss) on financial asset at fair value through other comprehensive income | (86,784) | 352,085 | 161,008 | |
Gain (Loss) on financial instruments at fair value through profit or loss (overlay approach) (Note 9) | 90,298 | 162,967 | (54,333) | |
Equity in other comprehensive income (loss) of associates | (3,318) | 3,302 | 7,407 | |
Foreign currency translation adjustments for foreign operations | (161,365) | 105,771 | 19,983 | |
Net change in unrealized fair value of cash flow hedges | (14,460) | (18,589) | (20,192) | |
Other comprehensive income (loss) of separate account | 3,884 | 10,427 | 8,676 | |
Items that are or may be reclassified to profit or loss | (171,745) | 615,963 | 122,549 | |
Items that will never be reclassified to profit or loss: | ||||
Remeasurements of the defined benefit liability | 15,812 | (54,644) | (93,098) | |
Equity in other comprehensive income (loss) of associates | (10) | (8) | 28 | |
Valuation gain on financial asset at fair value through other comprehensive income | 6,841 | 18,885 | 22,725 | |
Loss on disposal of financial asset at fair value through other comprehensive income | (27,826) | (5,861) | (2,635) | |
Changes in own credit risk on financial liabilities designated at fair value through profit or loss | 3,084 | (8,425) | 1,723 | |
Items that will never be reclassified to profit or loss | (2,099) | (50,053) | (71,257) | |
Total other comprehensive income (loss), net of income tax | (173,844) | 565,910 | 51,292 | |
Total comprehensive income for the year | 3,324,232 | 4,208,294 | 3,249,557 | |
Profit for the year attributable to: | ||||
Equity holders of Shinhan Financial Group Co., Ltd. (Notes 29 and 42) | [1] | 3,414,595 | 3,403,497 | 3,156,722 |
Non-controlling interest | 83,481 | 238,887 | 41,543 | |
Total comprehensive income attributable to: | ||||
Equity holders of Shinhan Financial Group Co., Ltd. | 3,242,745 | 3,890,701 | 3,207,602 | |
Non-controlling interest | ₩ 81,487 | ₩ 317,593 | ₩ 41,955 | |
Earnings per share: (Notes 29 and 42) | ||||
Basic and diluted earnings per share in won | ₩ 6,654 | ₩ 7,000 | ₩ 6,579 | |
[1] | The increase in reserve for credit losses, W25,608 million, due to the business combination with Orange Life insurance and Asia Trust for the year ended December 31, 2019 is excluded. |
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, 2017 | ₩ 33,703,617 | ₩ 32,820,220 | ₩ 2,645,053 | ₩ 423,921 | ₩ 9,887,335 | ₩ (398,035) | ₩ (529,734) | ₩ 20,791,680 | ₩ 883,397 |
Adoption effect of IFRS9 and IFRS15, net of tax (Note 49) | (532,020) | (528,865) | 0 | 0 | 0 | 0 | (277,011) | (251,854) | (3,155) |
Total comprehensive income for the year: | |||||||||
Profit for the year | 3,198,265 | 3,156,722 | 0 | 0 | 0 | 0 | 0 | 3,156,722 | 41,543 |
Other comprehensive income (loss), net of income tax: | |||||||||
Gain (loss) 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) |
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 |
Other changes in equity: | |||||||||
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 (Note 29) | (155,923) | (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 (loss) 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) | 0 | 0 | 0 | 0 | 0 | (753,041) | 0 |
Dividends to hybrid bonds | (61,993) | (61,993) | 0 | 0 | 0 | 0 | 0 | (61,993) | 0 |
Issuance of hybrid bonds | 199,476 | 199,476 | 199,476 | ||||||
Issuance of convertible preferred shares | 747,791 | 747,791 | 87,410 | 660,381 | |||||
Redemption of hybrid bonds | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Acquisition of treasury stock (Note 29) | (444,077) | (444,077) | 0 | 0 | 0 | (444,077) | 0 | 0 | 0 |
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 |
Total comprehensive income for the year: | |||||||||
Profit for the year | 3,498,076 | 3,414,595 | 0 | 3,414,595 | 83,481 | ||||
Other comprehensive income (loss), net of income tax: | |||||||||
Gain (loss) on financial asset at fair value through other comprehensive income | (107,769) | (107,484) | (107,484) | (285) | |||||
Gain (loss) on financial instruments at fair value through profit or loss (overlay approach) | 90,298 | 90,298 | 90,298 | 0 | |||||
Foreign currency translation adjustments | (161,365) | (159,596) | (159,596) | (1,769) | |||||
Equity in other comprehensive income of associates | (3,328) | (3,328) | (3,328) | 0 | |||||
Net change in unrealized fair value of cash flow hedges | (14,460) | (14,460) | (14,460) | 0 | |||||
Other comprehensive income of separate account | 3,884 | 3,884 | 3,884 | 0 | |||||
Remeasurements of defined benefit plans | 15,812 | 15,752 | 15,752 | 60 | |||||
Changes in own credit risk on financial liabilities designated at fair value through profit or loss | 3,084 | 3,084 | 3,084 | 0 | |||||
Total other comprehensive income (loss) | (173,844) | (171,850) | (171,850) | (1,994) | |||||
Total comprehensive income for the year | 3,324,232 | 3,242,745 | (171,850) | 3,414,595 | 81,487 | ||||
Other changes in equity: | |||||||||
Dividends | (883,929) | (883,929) | 0 | 0 | 0 | 0 | 0 | (883,929) | 0 |
Dividends to hybrid bonds | (85,327) | (85,327) | 0 | 0 | 0 | 0 | 0 | (85,327) | 0 |
Issuance of hybrid bonds | 448,699 | 448,699 | 448,699 | ||||||
Issuance of convertible preferred shares | 0 | 0 | |||||||
Redemption of hybrid bonds | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Acquisition of treasury stock (Note 29) | (150,467) | (150,467) | 0 | 0 | 0 | (150,467) | 0 | 0 | 0 |
Disposal of treasury stock (Note 29) | 451,809 | 451,809 | 451,809 | ||||||
Retirement of treasury stock (Note 29) | (25) | (25) | 150,000 | (150,025) | |||||
Change in other capital adjustments | 433,164 | 433,164 | 471,812 | (22,507) | (16,141) | ||||
Change in other non-controlling interests | (546,631) | (546,631) | |||||||
Other changes in equity | 1,102,245 | 1,648,876 | 237,178 | 448,699 | 1,669,586 | 428,835 | (1,135,422) | (546,631) | |
Reclassification of OCI retained earnings | 27,825 | (27,825) | |||||||
Ending Balance at Dec. 31, 2020 | 46,356,858 | 44,069,567 | 2,969,641 | ₩ 2,179,934 | 12,234,939 | ₩ (687,935) | ₩ (404,181) | ₩ 27,777,169 | ₩ 2,287,291 |
Other changes in equity: | |||||||||
Paid in capital increase | ₩ 1,434,952 | ₩ 1,434,952 | ₩ 237,178 | ₩ 1,197,774 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities | |||
Profit before income taxes | ₩ 4,753,871 | ₩ 4,911,508 | ₩ 4,466,610 |
Adjustments for: | |||
Interest income (Note 31) | (14,773,996) | (15,707,362) | (13,572,456) |
Interest expense (Note 31) | 4,891,296 | 5,969,398 | 4,992,367 |
Dividend income (Note 33) | (97,956) | (82,158) | (87,826) |
Net fees and commission expense (Note 32) | 187,304 | 125,975 | 176,932 |
Net insurance loss (Note 27) | 1,726,150 | 2,098,617 | 2,080,509 |
Net loss (gain) on financial instruments at fair value through profit or loss (Note 34) | 136,191 | (38,738) | (225,424) |
Net loss (gain) on derivatives (Note 10) | (245,681) | (388,880) | 291,879 |
Net loss (gain) on financial instruments at fair value through profit or loss (overlay approach) (Note 9) | 136,255 | 247,585 | (74,944) |
Net foreign currency translation loss (gain) | (232,723) | 147,952 | 377,632 |
Net loss (gain) on financial instruments designated at fair value through profit or loss (Note 35) | (241,066) | 33,872 | (382,667) |
Net gain on disposal of financial asset at fair value through other comprehensive income (Note 11) | (273,793) | (152,278) | (20,554) |
Net loss (gain) on disposal of securities at amortized cost (Note 11) | 25 | (66) | 9 |
Provision for allowance for credit loss (Note 36) | 1,382,179 | 980,692 | 747,877 |
Employee costs (Note 25) | 175,539 | 188,313 | 155,672 |
Depreciation and amortization (Note 37) | 768,488 | 677,152 | 301,916 |
Other operating expense (income) (Note 39) | 202,178 | 305,781 | (278,274) |
Equity method income, net (Note 15) | (159,533) | (53,287) | (17,488) |
Other non-operating expense (Note 40) | 153,360 | 148,091 | 3,147 |
Sub-total | (6,265,783) | (5,499,341) | (5,531,693) |
Changes in assets and liabilities: | |||
Due from banks at amortized cost | (4,915,143) | (10,059,356) | 6,024,743 |
Securities at fair value through profit or loss | (7,088,599) | (3,977,211) | (3,082,516) |
Due from banks at fair value through profit or loss | 862,047 | 73,904 | (82,014) |
Loans at fair value through profit or loss | 132,172 | (943,321) | (422,326) |
Financial asset designated at fair value through profit or loss (IFRS 9) | (708,627) | 847,715 | 723,037 |
Derivative instruments | (65,288) | 58,532 | 203,006 |
Loans at amortized cost | (32,897,127) | (18,831,825) | (27,547,413) |
Other assets | (7,866,826) | (4,452,651) | (5,177,725) |
Deposits | 33,139,123 | 29,123,272 | 16,699,467 |
Liabilities for defined benefit obligations | (243,428) | (263,882) | (145,639) |
Provisions | 51,567 | 28,380 | 14,542 |
Other liabilities | 8,503,803 | 7,851,505 | 174,590 |
Sub-total | (11,096,326) | (544,938) | (12,618,248) |
Income taxes paid | (1,184,910) | (1,130,148) | (850,696) |
Interest received | 14,570,884 | 15,200,114 | 13,208,601 |
Interest paid | (5,267,781) | (5,793,865) | (5,058,596) |
Dividends received | 80,728 | 35,716 | 63,826 |
Net cash provided by operating activities | (4,409,317) | 7,179,046 | (6,320,196) |
Cash flows from investing activities | |||
Decrease in financial instruments at fair value through profit or loss | 4,537,421 | 3,690,283 | 2,150,860 |
Increase in financial instruments at fair value through profit or loss | (4,982,663) | (6,712,873) | (3,290,960) |
Proceeds from disposal of securities at fair value through other comprehensive income | 53,048,284 | 36,334,241 | 27,074,948 |
Acquisition of securities at fair value through other comprehensive income | (52,657,353) | (46,908,632) | (27,037,290) |
Proceeds from disposal of securities at amortized cost | 5,923,611 | 6,722,627 | 2,093,506 |
Acquisition of securities at amortized cost | (7,645,000) | (12,209,898) | (5,836,342) |
Proceeds from disposal of property and equipment (Notes 13 and 40) | 248,037 | 51,942 | 39,202 |
Acquisition of property and equipment (Note 13) | (279,654) | (270,386) | (142,933) |
Proceeds from disposal of intangible assets (Notes 14 and 40) | 5,298 | 24,825 | 3,638 |
Acquisition of intangible assets (Note 14) | (362,415) | (318,930) | (157,160) |
Proceeds from disposal of investments in associates (Note 15) | 266,322 | 182,604 | 189,118 |
Acquisition of investments in associates (Note 15) | (776,799) | (669,341) | (227,914) |
Proceeds from disposal of investment property (Notes 16 and 40) | 113,038 | 86,422 | 15,433 |
Acquisition of investment property (Note 16) | (243,806) | (2,774) | (115,333) |
Proceeds from disposal of assets held for sale | 2,048 | 137 | 4,498 |
Proceeds from settlement of hedging derivative financial instruments | 25,722 | 19,303 | 67,039 |
Payment for settlement of hedging derivative financial instruments | (186,169) | (195,900) | (26,653) |
Net cash flow from business combination (Notes 47) | (73,081) | (2,246,932) | (4,498) |
Other, net | 11,233 | (264,585) | (311,744) |
Net cash used in investing activities | (3,025,926) | (22,687,867) | (5,512,585) |
Cash flows from financing activities | |||
Issuance of hybrid bonds | 448,698 | 199,476 | 1,107,838 |
Net increase in borrowings | 7,465,106 | 5,017,269 | 1,772,203 |
Proceeds from debt securities issued | 21,480,455 | 31,083,390 | 26,487,712 |
Repayments of debt securities issued | (21,508,827) | (19,881,717) | (14,689,246) |
Dividends paid | (968,847) | (830,772) | (714,705) |
Proceeds from settlement of hedging derivative financial instruments | 851,381 | 1,694,362 | 10,675 |
Payment of settlement of hedging derivative financial instruments | (807,705) | (1,716,320) | (16,832) |
Acquisition of treasury stock | (150,182) | (444,077) | (151,993) |
Disposal of treasury stock | 161,863 | 0 | 0 |
Increase in non-controlling interests | 566,673 | 312,390 | 347 |
Redemption of lease liabilities | (781,867) | (269,362) | 0 |
Paid in capital increase | 1,154,347 | 0 | 0 |
Issuance of convertible preferred shares | 0 | 747,791 | 0 |
Other, net | (30,526) | (33,619) | 528 |
Net cash provided by financing activities | 7,880,569 | 15,878,811 | 13,806,527 |
Effect of exchange rate fluctuations on cash and cash equivalents held | (61,518) | 29,428 | (30,640) |
Increase (decrease) in cash and cash equivalents | 383,808 | 399,418 | 1,943,106 |
Cash and cash equivalents at beginning of year | 8,579,174 | 8,179,756 | 6,236,650 |
Cash and cash equivalents at end of year | ₩ 8,962,982 | ₩ 8,579,174 | ₩ 8,179,756 |
Reporting entity
Reporting entity | 12 Months Ended |
Dec. 31, 2020 | |
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” or the “Company”), the controlling company, is incorporated on September 1, 2001 for the main purposes of controlling, managing and funding Shinhan Bank, Shinhan Securities Co., Ltd., Shinhan Capital Co., Ltd. and Shinhan BNP Asset Management Co., Ltd. by way of share transfers. The total capital stock amounted to W (b) Ownership of Shinhan Financial Group and its major consolidated subsidiaries as of December 31, 2019 and 2020 are as follows: Date of financial Ownership (%) Investor Investee (*1) Location 2019 2020 Shinhan Financial Group Co., Ltd. Shinhan Bank Korea December 31 100.0 100.0 ” Shinhan Card Co., Ltd. ” ” 100.0 100.0 ” Shinhan Investment Corp. ” ” 100.0 100.0 ” Shinhan Life Insurance Co., Ltd. ” ” 100.0 100.0 ” Orange Life Insurance Co., Ltd. (*2) ” ” 59.2 100.0 ” Shinhan Capital Co., Ltd. ” ” 100.0 100.0 ” Jeju Bank ” ” 75.3 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. 60.0 60.0 ” Shinhan AITAS Co., Ltd. ” ” 99.8 99.8 ” Shinhan REITs Management Co., Ltd. ” ” 100.0 100.0 ” Shinhan AI Co., Ltd. ” ” 100.0 100.0 ” Neoplux Co., Ltd. (*3) ” ” — 100.0 Shinhan Bank Shinhan Asia Limited (*4) Hong Kong ” 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 Date of financial Ownership (%) Investor Investee (*1) Location 2019 2020 ” 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 Bank Japan SBJDNX (*5) Japan ” — 100.0 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 Co.,Ltd Vietnam ” 100.0 100.0 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 Life Insurance Co., Ltd. Shinhan Financial Plus (*5) Korea ” — 100.0 Shinhan BNP Paribas Asset Management Co., Ltd. Shinhan BNP ASSET MGT HK Ltd. Hong Kong ” 100.0 100.0 Shinhan DS SHINHAN DS VIETNAM CO., LTD. Vietnam ” 100.0 100.0 (*1) Subsidiaries such as trust, beneficiary certificate, corporate restructuring fund and private equity fund which are not actually operating their own business are excluded. (*2) The Group acquired additional shares of Orange Life Insurance Co., Ltd. for the year ended December 31, 2020, and Orange Life Insurance Co., Ltd. became a wholly owned subsidiary of the Group. (*3) The Group acquired a 96.77% stake in Neoplux.Co., Ltd. for the year ended December 31, 2020. The entity became a wholly owned subsidiary as the Group acquired residual shares additionally. (*4) As of December 31, 2020, liquidation procedure has been completed. (*5) Newly invested subsidiaries subject to consolidation are included for the year ended December 31, 2020. (c) Consolidated structured entities Consolidated structured entities are as follows: Category Consolidated structured entities Description Trust Shinhan Bank (including development trust) and 17 others A trust is consolidated when the Group as a trustee is exposed to variable returns, 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 210 others An entity for asset backed securitization is consolidated when the Group has sole decision-making authority to dispose assets or change the conditions of the assets, and the Group is exposed to, or has rights to related variable returns by 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 the greatest 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 as a collective investor or a business executive, 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 credit contribution (ABCP purchase agreements) of W |
Basis of preparation
Basis of preparation | 12 Months Ended |
Dec. 31, 2020 | |
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, 2021, accordingly such statements were submitted for approval to the stockholder’s meeting held on March 25, 2021. (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 • financial instruments at fair value through other comprehensive income measured at fair value • liabilities for cash-settled share-based payment arrangements measured at fair value • financial assets and 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 judgments 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 judgments 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, 2019. (e) Change in accounting policy Except for the following new standards, which have been applied from January 1, 2020, 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. i) Amendments to IAS 1 ‘Presentation of financial statements’ and IAS 8 ‘Accounting policies, changes in accounting estimates and errors’ – Definition of materiality The amendments clarify the explanation of the definition of material and IAS 1 and IAS 8 are amended in accordance with the clarified definitions. Materiality is assessed by reference to omission or misstatement of material information as well as effects of immaterial information, and to the nature of the users when determining the information to be disclosed by the Group. The amendments do not have a significant impact on the consolidated financial statements. ii) Amendments to IFRS 3 ‘Business combination’ – Definition of business To consider the integration of the acquired activities and assets as a business, the amended definition of a business requires an acquisition to include an input and a substantive process that together significantly contribute to the ability to create outputs and excludes economic benefits from lowing the costs. If all of the fair value of gross assets acquired is substantially concentrated in a single identifiable asset or a group of similar assets, an entity may elect to apply a concentration test, an optional test, to permit a simplified assessment of whether an acquired asset of activities and assets is not a business. The amendments do not have a significant impact on the consolidated financial statements. (iii) Amendments to IFRS 16 ‘Lease’ – The practical expedient for the exemption, discount or deferral of rent related to COVID-19 As a practical expedient, the lessee may not evaluate whether a rent concession, such as the rent discount directly resulting from COVID-19, W ‘Lease’. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020, 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, 2020 and have mentioned in the Note 2. (a) Operating segments The Group has divided the segments based on internal reports reviewed periodically by the top sales decision maker to make decisions about the resources allocated to the segments and evaluate their performance. There are five reporting segments as described in Note 7. The reporting segments are operated separately according to the nature of the goods and services provided and the organizational structure of the Group. The segment reported to the Chief Executive Officer (“CEO”) includes items directly attributable to a segment as well as those that can be allocated on a reasonable basis. It is the CEO’s responsibility to evaluate the resources to be distributed to the business and the performance of the business, and to make 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. It does not own shares directly or indirectly for these companies. Considering the terms and conditions of the arrangement in which the structured entity was established, the consolidated entity gains and losses from the operations of the structured entity. It is included in the consolidated entities if it is determined that it has the ability to direct the activities of a consolidated structured entity that can most significantly affect these gains and losses. 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. Unrealized 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 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 transfer consideration 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 acquired 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 acquired employee that is included in transfer consideration 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 broker’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. (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 the Group’s stake 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 transactions and events in similar circumstances, appropriate adjustments are made to its financial statements in applying the equity method. When the carrying amount of that interest, including any long-term investments, is reduced to nil, 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 are comprised of 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, like in the case of preferred shares acquired within a short period of their maturity and with a specified redemption date. (f) Non-derivative Financial assets are recognized in the consolidated statement of financial position when the Group becomes a party to the contract. In addition, a standardized 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 short-term 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 recognition. 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 in the consolidated statement of comprehensive income 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. A gain or loss on a financial asset measured at amortized cost that is not subject to a hedging relationship is recognized in profit or loss when the financial asset is derecognized or impaired. 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 and, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Other than impairment losses, interest income, foreign exchange differences, gains or losses of the financial assets at FVOCI are recognized as other comprehensive income in equity. On removal, 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 credit losses allowance’ 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. If the Group does not have or transfer most of the risks and rewards of ownership of the financial asset, the entity shall remove the financial asset if it does not control the financial asset. If the Group continues to control the financial asset, it continues to recognize the transferred asset to the extent that it is continuously involved and recognizes the related liability together. If the Group transfers the right to cash flows of a financial asset but holds most of the risks and rewards of ownership of the financial asset, the entity shall continue to recognize the asset. Also, the amount of disposal amount is recognized as a liability. 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) Derivative financial instruments 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. In addition, this document describes the hedging instrument, hedged item, and the method of evaluating the effect of the hedging instrument offsetting changes in the fair value or cash flow of the hedged item due to the hedged risk at the initiation of the hedging relationship and in subsequent periods. The group has applied the following reliefs that were introduced by the amendments made to IFRS 9 Financial Instruments in September 2019. 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 specified interest rate risk components, the requirement that the hedged risk should be separately identifiable applies only at the inception of the hedging relationship. Through the interest rate index reform, this application of exception is ended when the timing and amount of cash flows based on the interest rate index will no longer appear, or the hedging relationship is discontinued. 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. 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 All derivatives except those designated as hedging instruments and are effective in hedging are measured at fair value. 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 the remainder is recognized in profit or loss immediately when the fair value becomes observable. (h) Impairment: Financial assets and contract assets 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 expected credit loss of financial at amortization cost 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 are 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. (i) 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. Descriptions Useful lives Buildings 40~50 years Other properties 4~5 years Depreciation methods, useful lives and residual values are reassessed at each fiscal year-end (j) 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 shown below, from the date that they are available for use. The residual value of intangible assets is zero. However, if there are no foreseeable limits to the periods over which certain intangible assets are expected to be available for use, they are determined to have indefinite useful lives and are not amortized. Descriptions Useful lives Software 5 years Capitalized development cost 5 years Other intangible assets 5 years or contract periods 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. (k) 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 are as follows: Descriptions Depreciation method Useful lives Buildings Straight-line 40 years (l) 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 lessee 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 Additional considerations for the Group when accounting for lessees include: 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. ① 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. ② 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. (m) 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 str |
Financial risk management
Financial risk management | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of financial risk management [Abstract] | |
Financial risk management | 4. Financial risk management (a) Overview Shinhan Financial Group Co., Ltd. (collectively the “Group”) manages various risks that may be arisen by each business sector and the major risks to which the Group is exposed include credit risk, market risk, interest rate risk, and liquidity risk. These risks are recognized, measured, controlled and reported in accordance with risk management guidelines established at the controlling company level and at the subsidiary level. i) Risk management principles The risk management principles of the Group are as follows: • All business activities take into account the balance of risks and profits within a predetermined risk trend. • The controlling company shall present the Group Risk Management Model Standards and supervise their compliance, and have responsibility and authority for group-level monitoring. • Operate a risk-related decision-making system that enhances management’s involvement. • Organize and operate risk management organizations independent of the business sector. • Operate a performance management system that clearly considers risks when making business decisions. • Aim for preemptive and practical risk management functions. • Share a cautious view to prepare for possible deterioration of the situation. ii) Risk management organization The basic policies and strategies for risk management of the Group are established by the Risk Management Committee (collectively the “Group Risk Management Committee”) within the controlling company’s Board of Directors. The Group’s Chief Risk Management Officer (CRO) assists the Group Risk Management Committee and consults the risk policies and strategies of the group and each subsidiary through the Group Risk Council, which includes the Chief Risk Management Officer of each subsidiary. The subsidiary implements the risk policies and strategies of the Group through each company’s risk management committee, risk-related committee, and risk management organization, and consistently establishes and implements the detailed risk policies and strategies of the subsidiary. The risk management team of the controlling company assists the Group’s chief risk management officer for risk management and supervision. 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 manage detailed risk limits by risk, department, desk and product types. ① Group Risk Management Committee The Group established the risk management system for the Group and each of its subsidiaries, and comprehensively manages 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 • Approve appropriate investment limit or loss allowance limit • Enact and amend 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 • Make 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. 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 takes 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 maintains a group wide risk management system to detect the signals of any risk crisis preemptively 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 is 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 Shinhan Bank’s basic policy on credit risk management is determined by the Risk Policy Committee. The Risk Policy Committee consists of the chairman of the CRO, the Chief Credit Officer (CCO), the head of the business group, and the head of the risk management department, and decides the credit risk management plan and the direction of the loan policy for the entire bank. Apart from the Risk Policy Committee, the Credit Review Committee is established to separate credit monitoring, such as large loans and limit approval, and the CCO is composed of the chairman, the head of the group in charge of the credit-related business group, the head of the credit planning department, and the senior examination team to enhance the soundness of the loan and profitability of operation. Shinhan Bank’s credit risk management includes processes such as credit evaluation, credit monitoring, and credit supervision, and credit risk measurement of counterparties and limit management processes and credit risk measurements for portfolios. All loan customers of Shinhan Bank are evaluated and managed with credit ratings. Retail customers are evaluated by summing up the information of the bank’s internal information and external credit information, and the corporate customers are evaluated by considering financial and non-financial Credits for corporate customers are performed by the loan officers and reviewers of branch offices by automatically searching for anticipated insolvent companies among business loan partners, and the credit department independent of the business sector evaluates the adequacy of the result of the loan review and, if necessary, the credit rating of the corporate is requested of an adjustment. In accordance with these procedures, the corporate customers are classified as an early warning company, an observation company, and a normal company, and then are managed differently according to the management guidelines for each risk stage, thereby preventing the insolvency of the loan at an early stage. In order to control the credit risk for the credit portfolio to an appropriate level, credit VaR limits are set and managed for each business and business sector, and to prepare for the credit risk caused by biased exposure to specific sectors, the Group sets and manages exposure limits for each sector by the party, industry, country, etc. Shinhan Card’s basic policy on credit risk is determined by the Risk Management Committee. The Risk Management Committee consists of the Risk Management Officer (CRO) as the chairperson, and is composed of the heads of each business division and supporting division, and the heads of related departments. Apart from the RMC, a credit committee in charge of monitoring corporate credits and other important credits over a certain amount has been established to separate credit policy decisions from credit monitoring. Shinhan Card’s credit scoring system is divided into ASS (Application Scoring System) and BSS (Behavior Scoring System). For applications that meet the eligibility criteria for card issuance, the card will be issued only if the AS credit rating is above the standard. The company’s internal information, CB company’s external information, and personal information on the application are used to calculate the AS credit rating. The BS, which is recalculated monthly, predicts the delinquency probability of cardholders, and utilizes it to monitor members and monitor portfolio risk. i) Techniques, assumptions and input variables used to measure impairment i-1) At the end of each reporting period, 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 the 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 considers reasonable and supportable information, that is available without undue cost or effort, and is indicative of significant increases in credit risk since initial recognition. Information includes the default experience data held by the Group and analysis by an internal credit rating expert. 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) Internal credit risk rating is the main variable inputs to determine the duration structure for the risk of default. 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 Collective loans for housing for which the constructors are insolvent Interest coverage ratio below 1 for a consecutive period of three years or negative cash flows from operating activities for a consecutive period of two years Loans with identified indicators for significant increases in other credit risk Loans with identified indicators for significant increases in other credit risk The Group assumes that the credit risk of the financial instrument has been increased significantly since initial recognition if a specific exposure is past due more than 30 days (except, 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 fails to fully receive the contractual payments from the borrower, and does not take into account 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. i-2) If the contractual cash flows on a financial asset have been modified through renegotiation and the financial asset is 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 are 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-month 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 contractual 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 observation 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 ocurred and the extent thereof may vary. i-4) The Group reflects future forward-looking information presented by a group of internal experts based on various information when measuring expected credit losses. The Group utilizes economic forecasts disclosed by domestic and foreign research institutes, governments, and public institutions to predict forward-looking information. 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. For the year ended December 31, 2020, macroeconomic variables used by the Group are as follows for each scenario. ① Upside scenario 2021 Major variables (*1) Correlation 2020.4Q (*2) 1Q 2Q 3Q 4Q GDP growth rate(YoY %) (- ) (2.8 ) 0.0 3.9 3.0 4.3 Private consumption index(YoY %) (- ) (4.8 ) 3.0 2.3 3.5 4.1 Facility investment growth rate(YoY %) (- ) 3.5 5.5 6.5 1.5 5.0 Consumer price index growth rate(%) (- ) 0.3 0.6 0.9 0.8 0.9 Balance on current account(billion dollars) (- ) 170.0 130.0 160.0 190.0 180.0 Government bond 3y yields(%) — 0.90 1.00 1.00 1.10 1.10 ② Central scenario 2021 Major variables (*1) Correlation 2020.4Q (*2) 1Q 2Q 3Q 4Q GDP growth rate(YoY %) (- ) (2.8 ) (0.7 ) 3.6 2.5 3.7 Private consumption index(YoY %) (- ) (4.8 ) 2.6 2.1 3.0 3.5 Facility investment growth rate(YoY %) (- ) 3.5 5.0 6.0 0.8 4.5 Consumer price index growth rate(%) (- ) 0.3 0.5 0.9 0.7 0.8 Balance on current account(billion dollars) (- ) 170.0 120.0 150.0 180.0 170.0 Government bond 3y yields(%) — 0.90 1.00 1.00 1.00 1.00 ③ Downside scenario 2021 Major variables (*1) Correlation 2020.4Q (*2) 1Q 2Q 3Q 4Q GDP growth rate(YoY %) (- ) (2.8 ) (1.5 ) 2.3 1.7 3.0 Private consumption index(YoY %) (- ) (4.8 ) 1.9 1.1 2.6 3.4 Facility investment growth rate(YoY %) (- ) 3.5 3.5 4.5 (1.0 ) 3.0 Consumer price index growth rate(%) (- ) 0.3 0.4 0.8 0.6 0.7 Balance on current account(billion dollars) (- ) 170.0 110.0 140.0 170.0 160.0 Government bond 3y yields(%) — 0.90 1.10 1.10 1.10 1.10 (*1) Shinhan Bank applied the private consumption index and facility investment growth rate as the major variables. In addition, Shinhan Card applied the GDP growth rate, consumer price index growth rate, balance on current account, and government bond 3y yields as the major variables. (*2) Considering the default forecast period, the Group reflected the future economic outlook. (*3) The macroeconomic outlook figures are estimated by the Group for the purpose of calculating expected credit losses based on information from domestic and foreign research institutes. Therefore, it could be different from other institutions’ estimates. The predicted correlations between the macroeconomic variables and the risk of default, used by the Group, are derived based on data from the past ten years. Covid-19 had a negative impact on economic conditions. The default rate forecast for the year ended December 31, 2020 is estimated using changed forward-looking information on economic growth rate, private consumption index, KOSPI, and etc, which are major variables for calculating the default rate. As a result, the default rate forecast for some portfolios have increased. Shinhan Bank has set aside an additional W COVID-19 W COVID-19 The Group has considered multiple economic scenarios in applying forward-looking information to measure expected credit losses. The sensitivity analysis of the impact on the Group’s expected credit loss allowance if the weights of the upside or downside scenarios is assumed to be 100% while holding all other assumptions constant is as follows: Sensitivity: Change amount for provisions (In millions of won) Upside(100%) Downside(100%) Shinhan Bank (3,332 ) 26,507 Forward-looking Shinhan Card (24,109 ) 35,205 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 those 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. In measuring expected credit losses on financial assets, the Group uses the contractual maturity as the period subject to expected credit loss measurement. The contractual maturity is computed taking into account the extension right held by the borrower. 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, 2019 and 2020 is as follows: 2019 2020 Due from banks and loans at amortized cost (*1)(*3): Banks W 12,950,561 17,016,263 Retail 152,840,826 170,314,316 Government/Public sector/Central bank 19,461,567 24,778,332 Corporations 140,718,619 152,895,324 Card receivable 23,114,264 22,822,546 349,085,837 387,826,781 Due from banks and loans at fair value through profit or loss (*3): Banks 897,525 93,109 Corporations 2,154,821 1,986,804 3,052,346 2,079,913 Securities at fair value through profit or loss 48,512,857 55,275,031 Securities at fair value through other comprehensive income 58,573,094 57,409,433 Securities at amortized cost (*1) 45,582,065 47,282,623 Derivative assets 2,829,274 5,633,915 Other financial assets (*1)(*2) 17,477,778 20,341,191 Financial guarantee contracts 4,698,558 4,481,506 Loan commitments and other credit liabilities 177,660,547 187,067,821 W 707,472,356 767,398,214 (*1) The maximum exposure amounts for due from banks, loans, securities at amortized cost and other financial assets at amortized cost are recorded as net of allowances. (*2) Other financial assets mainly comprise of receivables, accrued income, secured key money deposits, prepayment, and domestic exchange settlement debit settled in a day. (*3) Classified as similar credit risk group based on calculation of the BIS ratio under new Basel Capital Accord (Basel III). iii) The maximum amount of exposure to credit risk by type of collateral as of December, 31, 2019 and 2020 is as follows: 2019 12 months Life time expected credit loss Total Classification Not impaired Impaired 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 Others 5,035,192 4,437 364 5,039,993 Total W 150,785,399 19,404,094 450,388 170,639,881 2020 12 months Life time expected credit loss Total Classification Not impaired Impaired Guarantee W 36,355,387 5,944,417 185,777 42,485,581 Deposits and Savings 1,258,934 313,723 1,509 1,574,166 Property and equipment 1,301,810 324,098 12,341 1,638,249 Real estate 109,092,694 13,914,172 311,946 123,318,812 Securities 2,181,874 108,718 88,025 2,378,617 Others 4,830,557 — 1,943 4,832,500 Total W 155,021,256 20,605,128 601,541 176,227,925 iv) Impairment information by credit risk of financial assets Details of impaired financial assets due to credit risk as of December 31, 2019 and 2020 are as follows: 2019 12-month Life time expected loss Total Allowances Net Mitigation of due to Grade 1 Grade 2 Grade 1 Grade 2 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/Public sector/Central bank 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 (*) 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 2020 12-month Life time expected loss Total Allowances Net Mitigation of due to Grade 1 Grade 2 Grade 1 Grade 2 Impaired Due from banks and loans at amortized cost: Banks W 14,935,722 1,996,948 87,084 10,027 — 17,029,781 (13,518 ) 17,016,263 29,994 Retail 152,159,976 8,385,069 6,062,587 3,686,863 574,354 170,868,849 (554,533 ) 170,314,316 91,711,254 Government/Public sector/Central bank 23,849,701 834,912 96,183 1,748 — 24,782,544 (4,212 ) 24,778,332 9,000 Corporations 93,740,349 34,637,533 11,391,410 13,758,332 982,037 154,509,661 (1,614,337 ) 152,895,324 83,580,715 Card receivable 16,995,332 2,304,536 1,754,723 2,197,877 454,451 23,706,919 (884,373 ) 22,822,546 6,845 301,681,080 48,158,998 19,391,987 19,654,847 2,010,842 390,897,754 (3,070,973 ) 387,826,781 175,337,808 Securities at fair value through other comprehensive income (*) 48,506,057 8,636,241 — 267,135 — 57,409,433 — 57,409,433 — Securities at amortized cost 45,888,769 1,404,340 — — — 47,293,109 (10,486 ) 47,282,623 — W 396,075,906 58,199,579 19,391,987 19,921,982 2,010,842 495,600,296 (3,081,459 ) 492,518,837 175,337,808 (*) Credit loss allowance recognized as other comprehensive income of 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 2019 Grade 1 Grade 2 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 2020 Grade 1 Grade 2 Impaired Total Financial guarantee: 12-month W 2,884,641 1,110,945 — 3,995,586 Life time expected credit loss 308,785 176,977 — 485,762 Impaired — — 158 158 3,193,426 1,287,922 158 4,481,506 Loan commitment and other credit line 12-month 156,787,448 20,715,236 — 177,502,684 Life time expected credit loss 6,738,016 2,822,003 — 9,560,019 Impaired — — 5,118 5,118 163,525,464 23,537,239 5,118 187,067,821 W 24,825,161 5,276 191,549,327 vi) Credit qualities are classified based on the internal credit rating as follows: Type of Borrower Grade 1 Grade 2 Individuals Probability of default below 2.25% for each pool Probability of default 2.25% or above for each pool Government/Public agency/Central bank OECD sovereign credit rating of 6 or above OECD sovereign credit rating of below 6 Banks and Corporations (Credit card bonds) Internal credit rating of BBB+ or above Internal credit rating of below BBB+ Card receivables (Individuals) Behavior scoring system of 7 grade or above Behavior scoring system of below 7 grade vii) Credit risk exposures per credit quality of derivative assets Credit quality of derivative assets as of December 31, 2019 and 2020 are as follows: 2019 2020 Grade 1 W 2,377,548 4,994,809 Grade 2 451,726 639,106 W 2,829,274 5,633,915 (*) Credit quality of derivative assets is classified based on the internal credit ratings. viii) Concentration by geographic location An analysis of concentration by geographic location for financial instrument, net of allowance, as of December 31, 2019 and 2020 are as follows: 2019 Korea USA UK 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 receivable 22,916,799 9,0 |
Significant estimate and judgme
Significant estimate and judgment | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of significant estimates and judgments [Abstract] | |
Significant estimates and judgments | 5. Significant estimates and judgments The preparation of financial statements requires the Group to make estimates and assumptions concerning the future. Management also needs to exercise judgment in applying the Group’s accounting policies. Estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. As the resulting accounting estimates will, by definition, seldom equal the related actual results, it can contain a significant risk of causing a material adjustment. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. (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) is 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 (e.g. over-the-counter (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 assumptions used to determine the net cost (profit) of an annuity include a discount rate, and these changes will affect the carrying amount of the defined benefit obligation. The Group is deciding the appropriate discount rate for each half year. The discount rate represents the interest rate that should be used to determine the present value of the estimated future cash outflow expected to occur in settlement of the defined benefit obligation. The Group determines the appropriate discount rate by considering the interest rate of blue-chip corporate bonds that are denominated in the currency in which the pension is paid and have a maturity similar to the period of the associated defined benefit obligation. 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, 2020 | |
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, 2019 and 2020 is as follows: 2019 2020 Investees(*1)(*2) Asset balance Liability balance Equity balance Asset balance Liability balance Equity balance Shinhan Financial Group (separate) W 32,261,322 9,795,896 22,465,426 35,483,914 10,426,817 25,057,097 Shinhan Bank 392,723,044 366,629,929 26,093,115 427,675,103 400,009,589 27,665,514 Shinhan Card Co., Ltd. 32,917,910 26,769,044 6,148,866 34,885,223 28,465,675 6,419,548 Shinhan Investment Corp. 37,375,487 33,138,930 4,236,557 46,632,433 42,258,341 4,374,092 Shinhan Life Insurance Co., Ltd. 34,133,649 32,062,490 2,071,159 36,777,496 34,232,052 2,545,444 Orange Life Insurance Co., Ltd. 32,841,359 29,654,711 3,186,648 33,813,587 30,574,073 3,239,514 Shinhan Capital Co., Ltd. 7,566,428 6,612,519 953,909 8,901,349 7,710,010 1,191,339 Jeju Bank 6,192,927 5,695,223 497,704 6,531,838 6,022,397 509,441 Shinhan Credit Information Co., Ltd. 25,292 10,044 15,248 27,806 10,826 16,980 Shinhan Alternative Investment Management Inc. 87,694 75,665 12,029 87,053 71,591 15,462 Shinhan BNP Paribas Asset Management Co., Ltd. 184,203 19,678 164,525 191,127 20,530 170,597 SHC Management Co., Ltd. 9,639 — 9,639 9,644 — 9,644 Shinhan DS 89,141 67,954 21,187 95,150 70,916 24,234 Shinhan Savings Bank 1,602,902 1,418,317 184,585 1,842,231 1,635,433 206,798 Asia Trust Co., Ltd. 172,793 43,933 128,860 259,899 85,274 174,625 Shinhan AITAS Co., Ltd. 77,086 10,962 66,124 87,378 12,159 75,219 Shinhan REITs Management Co., Ltd. 45,832 5,619 40,213 52,555 8,582 43,973 Shinhan AI Co., Ltd. 42,402 1,674 40,728 42,903 1,890 41,013 Neoplux Co., Ltd. — — — 72,550 12,697 59,853 (*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, 2018, 2019 and 2020 is as follows: 2018 2019 2020 Investees(*1)(*2) Operating Income Net Income Comprehensive Operating Income Net Income Comprehensive Operating Income Net Income Comprehensive Shinhan Financial Group (separate) W 1,519,197 1,234,883 1,234,044 1,480,030 1,129,173 1,127,202 1,718,407 1,274,443 1,274,892 Shinhan Bank 19,731,711 2,279,362 2,333,266 23,145,476 2,329,268 2,527,665 25,049,392 2,078,232 1,911,575 Shinhan Card Co., Ltd. 3,752,232 517,761 477,135 3,892,257 509,032 486,114 4,091,178 606,554 599,451 Shinhan Investment Corp. 5,279,567 251,268 269,058 6,139,926 220,764 225,963 9,290,965 154,531 147,210 Shinhan Life Insurance Co., Ltd. 5,633,679 131,021 150,997 5,413,175 123,870 326,783 5,405,933 177,834 227,596 Orange Life Insurance Co., Ltd. (*3) — — — 4,662,085 271,455 433,510 4,456,340 279,282 132,425 Shinhan Capital Co., Ltd. 439,031 103,400 100,317 455,246 126,050 123,032 626,455 160,583 162,134 Jeju Bank 224,766 27,446 30,579 239,732 27,934 30,519 214,615 17,521 16,557 Shinhan Credit Information Co., Ltd. 37,616 1,392 985 38,648 507 658 42,658 1,493 1,650 Shinhan Alternative Investment Management Inc. 21,590 (780 ) (780 ) 32,401 2,144 2,144 17,219 3,433 3,433 Shinhan BNP Paribas Asset Management Co., Ltd. 78,378 18,868 18,980 84,256 23,090 22,655 88,870 26,663 26,663 SHC Management Co., Ltd. 140 309 309 154 82 82 70 5 5 Shinhan DS 99,279 1,314 1,525 138,697 2,074 1,292 164,327 1,862 2,845 Shinhan Savings Bank 94,636 19,384 18,919 116,849 23,122 22,972 123,590 26,953 26,888 Asia Trust Co., Ltd. (*3) — — — 54,920 18,098 18,128 102,816 45,791 45,765 Shinhan AITAS Co., Ltd. 44,729 8,461 8,461 51,823 10,821 10,821 58,599 13,020 12,954 Shinhan REITs Management Co., Ltd. 7,386 3,564 3,552 7,342 7,414 7,411 12,176 3,764 3,764 Shinhan AI Co., Ltd. — — — 3,088 (654 ) (654 ) 10,246 304 284 Neoplux Co., Ltd. (*3) — — — — — — 3,500 (1,146 ) (1,015 ) (*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) For the acquired company, the amount is from the consolidated statements of comprehensive income for the period after the acquisition point. (c) Change in the scope of consolidation i) 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 Co.,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. ii) Change in consolidated subsidiaries for the year ended December 31, 2020 are as follows: Company Description Included Neoplux Co., Ltd. Newly acquired subsidiary Included SBJDNX Newly invested subsidiary Included Shinhan Financial Plus Newly invested subsidiary Excluded Shinhan Asia Ltd. Liquidation (*) 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, 2020 | |
Disclosure of operating segments [Abstract] | |
Operating segments | 7. Operating segments (a) Segment information The general descriptions by operating segments as of December 31, 2020 are as follows: Segment Description Banking Credit to customers, lending to and receiving deposits from customers, and their accompanying work Credit card Sales of credit cards, cash services, card loan services and their accompanying work Securities Securities trading, consignment trading, underwriting and their accompanying work Life insurance Life insurance business and its accompanying work Others Business segments that do not belong to the above segments, such as leasing, rental, collection of bonds, assets management and other remaining business (b) The following tables provide information of income and expense for each operating segment for the years ended December 31, 2018, 2019 and 2020: 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 (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 2020 Banking Credit card Securities Life Others Consolidation Total Net interest income W 6,037,632 1,755,039 517,044 1,608,953 166,622 (202,590 ) 9,882,700 Net fees and commission income 822,408 483,486 544,183 162,284 368,350 2,222 2,382,933 Reversal of (provision for) allowance for credit loss (“ACL”) (690,084 ) (483,883 ) (111,796 ) (12,236 ) (85,951 ) 1,771 (1,382,179 ) General and administrative expenses (3,237,641 ) (698,796 ) (565,485 ) (463,439 ) (372,591 ) 125,479 (5,212,473 ) Other income (expense), net (130,488 ) (169,304 ) (11,348 ) (727,530 ) 260,873 36,552 (741,245 ) Operating income 2,801,827 886,542 372,598 568,032 337,303 (36,566 ) 4,929,736 Equity method income (loss) (811 ) — 37,760 (1,244 ) 29,644 94,184 159,533 Income tax expense 673,972 251,357 48,464 156,698 94,094 31,210 1,255,795 Profit for the year W 1,999,002 703,305 154,531 457,116 273,575 (89,453 ) 3,498,076 Controlling interest W 1,998,563 703,204 154,772 457,116 273,575 (172,635 ) 3,414,595 Non-controlling 439 101 (241 ) — — 83,182 83,481 (c) Interest gains and losses from segment external customers and cross-sector interest gains and losses for the years ended December 31, 2018, 2019 and 2020 are as follows: 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 2020 Banking Credit card Securities Life Others Consolidation Total Net interest income from: External customers (*) W 6,037,205 1,809,149 526,167 1,605,575 114,290 (209,686 ) 9,882,700 Internal transactions 427 (54,110 ) (9,123 ) 3,378 52,332 7,096 — W 6,037,632 1,755,039 517,044 1,608,953 166,622 (202,590 ) 9,882,700 (*) 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, 2018, 2019 and 2020. 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 974,636 436,523 361,526 175,171 192,663 — 2,140,519 Internal transactions (24,247 ) (33,264 ) (10,223 ) (7,847 ) 79,581 (4,000 ) — W 950,389 403,259 351,303 167,324 272,244 (4,000 ) 2,140,519 2020 Banking Credit card Securities Life Others Consolidation Total Net fees and commission income from: External customers W 859,225 531,394 553,308 173,865 265,141 — 2,382,933 Internal transactions (36,817 ) (47,908 ) (9,125 ) (11,581 ) 103,209 2,222 — W 822,408 483,486 544,183 162,284 368,350 2,222 2,382,933 (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, 2018, 2019 and 2020. 2018 2019 2020 Domestic W 4,023,916 4,378,239 4,436,252 Overseas 475,498 668,011 493,484 W 4,499,414 5,046,250 4,929,736 The following table provides information of non-current 2019 2020 Domestic W 9,816,600 9,734,468 Overseas 314,052 351,083 W 10,130,652 10,085,551 (*) Non-current |
Cash and Due from banks at amor
Cash and Due from banks at amortized cost | 12 Months Ended |
Dec. 31, 2020 | |
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, 2019 and 2020 are as follows: 2019 2020 Cash and cash equivalents Cash W 2,573,579 1,782,301 Cash equivalents 9,307 22,979 2,582,886 1,805,280 Deposits denominated in Korean won: Reserve deposits 13,840,988 16,957,521 Time deposits 1,413,964 950,624 Other 1,890,541 3,953,337 17,145,493 21,861,482 Deposits denominated in foreign currency: Deposits 5,616,049 5,576,206 Time deposits 2,393,885 2,721,849 Other 697,505 1,455,732 8,707,439 9,753,787 Allowance for credit losses (12,074 ) (10,007 ) W 33,410,542 (b) Restricted due from banks at amortized cost as of December 31, 2019 and 2020 are as follows: 2019 2020 Related Regulations or Acts Deposits denominated in Korean won: Reserve deposits W 13,840,988 16,957,521 Article 55 of the Bank of Korea Act Other 1,081,698 2,390,761 Article 28 and 70 of the Bank of Korea Act, Article 74 of the Capital Markets and Financial Investment Business Act, etc. 14,922,686 19,348,282 Deposits denominated in foreign currency 1,584,239 2,621,129 Articles of the Bank of Korea Act, New York State Banking Act, derivatives, etc. W 16,506,925 21,969,411 |
Financial assets at fair value
Financial assets at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2020 | |
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, 2019 and 2020 are as follows: 2019 2020 Debt instruments: Governments W 2,873,419 4,248,448 Financial institutions 12,711,074 13,997,922 Corporations 8,541,514 9,356,842 Stocks with put option 598,858 583,590 Equity investment with put option 1,458,933 1,860,195 Beneficiary certificates 10,678,620 12,451,709 Commercial papers 5,160,063 6,369,854 CMA 3,723,401 2,806,485 Others (*) 2,655,260 3,411,647 48,401,142 55,086,692 Equity instruments: Stocks 1,488,743 1,627,020 Equity investment — 1,697 Others 109,197 107,742 1,597,940 1,736,459 W 49,999,082 56,823,151 Other: Loans at fair value W 2,154,821 2,016,801 Due from banks at fair value 897,525 63,112 Gold/silver deposits 111,715 188,339 W 53,163,143 59,091,403 (*) As of December 31, 2019 and 2020, restricted reserve for claims of customers’ deposits (trusts) are W W (b) Financial assets to which overlay approach are applied in accordance with IFRS 9 ‘Financial Instruments’ and IFRS 4 ‘Insurance Contracts’ as of December 31, 2019 and 2020 are as follows: 2019 2020 Due from banks at fair value through profit or loss W 897,525 63,112 Securities at fair value through profit or loss 5,139,380 4,865,908 W 6,036,905 4,929,020 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, 2019 and 2020 are as follows: 2019 Profit or loss Other comprehensive By IFRS 9 By IAS 39 Amount Tax effect Net gain (loss) on valuation of financial W 150,865 (74,586 ) 225,451 (50,042 ) Net gain (loss) on disposal of financial 65,627 43,493 22,134 (4,672 ) W 216,492 (31,093 ) 247,585 (54,714 ) 2020 Profit or loss Other comprehensive By IFRS 9 By IAS 39 Amount Tax effect Net gain (loss) on valuation of financial W 123,808 (21,488 ) 145,301 (39,140 ) Net gain (loss) on disposal of financial 53,806 62,926 (9,120 ) 4,086 Net gain (loss) on foreign currency conversion of financial assets at fair value through profit or loss 74 — 74 (20 ) W 177,688 41,438 136,255 (35,074 ) (*) The amount of the policyholders equity adjustment for the reclassification of other comprehensive income is W |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2020 | |
Derivatives [Abstract] | |
Derivatives | 10. Derivatives (a) The notional amounts of derivatives outstanding as of December 31, 2019 and 2020 are as follows: 2019 2020 Foreign currency related: Over the counter: Currency forwards W 137,383,704 117,566,233 Currency swaps 40,826,444 33,562,251 Currency options 2,758,801 2,501,983 180,968,949 153,630,467 Exchange traded: Currency futures 1,045,138 1,102,534 182,014,087 154,733,001 Interest rates related: Over the counter: Interest rate swaps 37,801,528 36,205,843 Interest rate options 286,000 324,238 38,087,528 36,530,081 Exchange traded: Interest rate futures 2,455,450 2,465,374 Interest rate swaps (*) 65,868,540 68,475,400 68,323,990 70,940,774 106,411,518 107,470,855 Credit related: Over the counter: Credit swaps 5,404,257 4,536,626 Equity related: Over the counter: Equity swaps and forwards 4,255,831 2,628,661 Equity options 864,038 508,686 5,119,869 3,137,347 Exchange traded: Equity futures 876,220 1,638,126 Equity options 4,039,226 4,277,882 4,915,446 5,916,008 10,035,315 9,053,355 Commodity related: Over the counter: Commodity swaps and forwards 758,533 537,351 Exchange traded: Commodity futures and options 344,329 263,460 1,102,862 800,811 2019 2020 Hedge: Currency forwards 1,869,518 1,281,945 Currency swaps 4,532,114 4,328,333 Interest rate swaps 10,091,632 7,844,392 16,493,264 13,454,670 W 290,049,318 (*) The notional amounts of derivatives outstanding those will be settled in the ‘Central Counter Party (CCP)’ system. (b) Fair values of derivative instruments as of December 31, 2019 and 2020 are as follows: 2019 2020 Assets Liabilities Assets Liabilities Foreign currency related: Over the counter: Currency forwards W 1,360,384 1,056,760 3,135,319 3,021,258 Currency swaps 473,797 519,445 1,145,619 979,022 Currency options 9,007 9,430 33,253 31,871 1,843,188 1,585,635 4,314,191 4,032,151 Exchange traded: Currency futures — — 90 186 1,843,188 1,585,635 4,314,281 4,032,337 Interest rates related: Over the counter: Interest rate swaps 260,020 247,723 311,403 363,297 Interest rate options 835 5,626 2,148 2,217 260,855 253,349 313,551 365,514 Exchange traded: Interest rate futures 697 595 900 422 261,552 253,944 314,451 365,936 Credit related: Over the counter: Credit swaps 283,015 38,598 273,578 29,682 Equity related: Over the counter: Equity swap and forwards 144,276 39,422 122,034 48,218 Equity options 4,526 9,402 2,750 9,840 148,802 48,824 124,784 58,058 2019 2020 Assets Liabilities Assets Liabilities Exchange traded: Equity futures W 4,318 6,417 34,816 7,711 Equity options 28,355 29,741 77,973 153,461 32,673 36,158 112,789 161,172 181,475 84,982 237,573 219,230 Commodity related: Over the counter: Commodity swaps and forwards 14,496 27,745 5,949 32,693 Exchange traded: Commodity futures and options 2,342 10,100 11,580 186 16,838 37,845 17,529 32,879 Hedge: Currency forwards 14,380 21,121 91,747 10,507 Currency swaps 74,240 48,396 65,256 186,150 Interest rate forwards and swaps 154,586 232,491 319,500 139,846 243,206 302,008 476,503 336,503 W 2,829,274 2,303,012 5,633,915 5,016,567 (c) Gain or loss on valuation of derivatives for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Foreign currency related Over the counter Currency forwards W 41,188 174,340 (108,854 ) Currency swaps (34,444 ) (24,827 ) 210,072 Currency options 8,247 4,056 4,979 14,991 153,569 106,197 Exchange traded Currency futures 11 — (96 ) 15,002 153,569 106,101 Interest rates related Over the counter Interest rate swaps 86,675 (75,349 ) (73,926 ) Interest rate options (1,459 ) (1,938 ) (372 ) 85,216 (77,287 ) (74,298 ) Exchange traded Interest rate futures (2,512 ) 1,008 4,236 82,704 (76,279 ) (70,062 ) 2018 2019 2020 Credit related Over the counter Credit swaps W (18,396 ) 213,754 7,255 Equity related Over the counter Equity swap and forwards (271,457 ) 46,770 (15,979 ) Equity options 4,326 (841 ) (2,082 ) (267,131 ) 45,929 (18,061 ) Exchange traded Equity futures 15,159 (2,275 ) 26,305 Equity options (44,163 ) 58,721 196,288 (29,004 ) 56,446 222,593 (296,135 ) 102,375 204,532 Commodity related Over the counter Commodity swaps and forwards (79,296 ) 3,191 (13,519 ) Commodity options 33 29 — (79,263 ) 3,220 (13,519 ) Exchange traded Commodity futures 4,209 (7,759 ) 11,374 (75,054 ) (4,539 ) (2,145 ) Hedge 78,892 332,778 120,700 W (212,987) 721,658 366,381 (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, 2019 and 2020 are as follows: 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 2020 Gains (losses) on Gains (losses) on Hedge ineffectiveness Fair value hedges: Interest rate swaps (*1) W (228,266 ) 233,008 4,742 Foreign exchange risk (*1) (21,336 ) 12,071 (9,265 ) W (249,602 ) 245,079 (4,523 ) (*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: 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 ) 2020 Gains (losses) on hedges Hedge ineffectiveness From cash flow hedge Cash flow hedges: Interest rate risk (*1) W (3,220 ) (343 ) — Foreign exchange risk (*1) (16,693 ) (6,539 ) 26,405 Discontinuation of cash flow hedges (45 ) — 45 Hedge of net investments: Foreign exchange risk (*1) 44,049 (2,134 ) — W (9,016) 26,450 (*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) 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) Nominal amounts and average hedge ratios for hedging instruments as of December 31, 2019 and 2020 are as follows: 2019 Less than 1~2 2~3 3~4 4~5 More than 5 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 % 2020 Less than 1~2 2~3 3~4 4~5 More than 5 Total Interest risk: Nominal values: W 657,656 640,992 1,217,588 456,688 247,244 4,624,224 7,844,392 Average price condition (*1) 1.12 % 0.88 % 1.30 % 0.98 % 0.67 % 0.38 % 0.67 % Average hedge ratio: 100 % 100 % 100 % 100 % 100 % 100 % 100 % Exchange risk: (*2) Nominal values: 2,340,409 1,448,787 1,734,593 457,199 575,527 250,014 6,806,529 Average hedge ratio: 100 % 100 % 100 % 100 % 100 % 100 % 100 % (*1) Interest rate swaps consist of 3M CD, 3M USD Libor, 3M Euribor, and 3M AUD Bond. (*2) The average exchange rates of net investment hedge instruments are USD/KRW 1,154.76, JPY/KRW 10.61, EUR/KRW 1,287.16, GBP/KRW 1,480.30, AUD/KRW 800.67, CAD/KRW 895.95, SGD/KRW 847.09, CNY/KRW 168.84, SEK/KRW 124.60 iii) Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity 2019 Nominal amount Carrying value Carrying value Changes in fair Fair value hedges Interest rate swap W 9,371,632 154,586 210,079 314,766 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 ) 2020 Nominal amount Carrying value Carrying value Changes in fair Fair value hedges Interest rate swap W 6,965,492 319,294 120,728 181,151 Currency swap — — 67 985 Currency forward 254,023 20,093 66 24,481 Cash flow hedge Interest rate swap 878,900 206 19,118 3,303 Currency swap 4,328,333 65,256 186,083 (8,560 ) Currency forward 810,322 60,473 — (4,181 ) Hedge of net investments in foreign operations Currency forward 217,600 11,181 10,441 (2,991 ) Borrowings 1,196,252 — 1,193,269 44,907 (*) The related account categories are presented as interest rate swap assets / liabilities and currency forward assets and liabilities. iv) Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity 2019 Carrying Carrying Assets of Liabilities of Changes if Cash flow Foreign Fair value hedges Interest rate risk: Borrowings and etc W 432,172 8,859,022 4,846 (56,292 ) (308,463 ) — — Foreign exchange risk Securities in foreign currency 306,638 — — — 1,671 — — Cash flow hedge Interest rate risk: Debentures in won and debentures in foreign currency 645,723 1,740,000 — — (11,126 ) 80,674 — Foreign exchange risk: Debentures in foreign currency and loans in foreign currency 4,116,068 3,035,423 — — 115,867 (11,188 ) — Hedge of net investments in foreign operations Foreign exchange risk: Net assets in foreign business establishment — — — — (49,463 ) — (88,953 ) 2020 Carrying Carrying Assets of Liabilities of Changes if Cash flow Foreign Fair value hedges Interest rate risk: Borrowings and etc W 143,496 6,750,929 6,563 193,452 (175,369 ) — — Foreign exchange risk Securities in foreign currency 342,205 — — — (26,927 ) — — Cash flow hedge Interest rate risk: Debentures in won and debentures in foreign currency 617,463 1,674,460 — — 2,296 60,659 — Foreign exchange risk: Debentures in foreign currency and loans in foreign currency 3,264,740 2,962,041 — — (58,557 ) (32,001 ) — Hedge of net investments in foreign operations Foreign exchange risk: Net assets in foreign business establishment — — — — 44,049 — (141,151 ) (*) The related account categories are presented as interest rate swap assets / liabilities and currency forwards. (f) Hedge relationships affected by an interest rate index The revised Standard requires exceptions to the analysis of future information in relation to the application of hedge accounting, while uncertainty exists due to movements of the interest rate indicator reform. The exception assumes that when assessing whether the expected cash flows that comply with existing interest rate indicators are highly probable, whether there is an economic relationship between the hedged item and the hedging instrument, and whether there is a high hedge effectiveness between the hedged item and the hedging instrument, the interest rate indicators that are based on the hedged item do not change due to the effect of the interest rate index reform. The nominal amount of the hedging instrument related to the interest rate index exposed to the hedging relationship due to the Group’s reform of the interest rate index as of December 31, 2020 is as follows: Interest rate index Carrying amount of Carrying amount of Nominal amount of KRW 3M CD (*1) W — 3,329,530 3,440,000 USD 1M LIBOR — 1,537,051 1,540,608 USD 3M LIBOR (*1) 357,072 3,438,080 3,790,651 EUR 1M LIBOR — 264,074 264,450 EUR 3M LIBOR — 267,648 267,648 (*1) Include nominal amount of the hedging instrument related to the CMS(Constant Maturity Swap) calculated based on the CD and LIBOR rate. (*2) Include the nominal amount that will mature after the end of 2021. From 2022, the USD LIBOR interest rate will be replaced by a Secured Overnight Financing Rate (SOFR) based on actual transactions, andthe EUR LIBOR interest rate will be replaced by the next day’s unsecured rate, Euro Short-Term Rate (ESTER). The Risk-Free |
Securities at fair value throug
Securities at fair value through other comprehensive income and securities at amortised cost | 12 Months Ended |
Dec. 31, 2020 | |
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 | 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, 2019 and 2020 are as follows: 2019 2020 Securities at FVOCI: Debt securities: Government bonds W 17,597,910 19,370,393 Financial institutions bonds 21,527,242 20,053,716 Corporate bonds and others 19,447,942 17,985,324 58,573,094 57,409,433 Equity securities (*): Stocks 728,311 777,901 Equity investments 5,356 4,445 Others 74,292 124,333 807,959 906,679 59,381,053 58,316,112 Securities at amortized cost: Debt securities: Government bonds 30,385,084 31,816,320 Financial institutions bonds 4,770,204 3,835,577 Corporate bonds and others 10,426,777 11,630,726 45,582,065 47,282,623 W 104,963,118 105,598,735 (*) 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 are 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, 2019 and 2020 are as follows: 2019 Securities at fair value through other Securities at amortized cost 12-month credit loss Life time credit loss Total 12-month 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-month 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 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 2020 Securities at fair value through other Securities at amortized cost 12-month credit loss Life time credit loss Total 12-month credit loss Life time credit loss Total Beginning allowance W 58,334,000 239,094 58,573,094 45,568,563 23,272 45,591,835 Transfer to 12-month 30,233 (30,233 ) — — — — Transfer to life time expected credit loss (83,132 ) 83,132 — — — — Transfer to impaired financial asset — — — — — — Purchase 52,637,678 19,675 52,657,353 7,645,000 — 7,645,000 Disposal (34,969,744 ) (21,247 ) (34,990,991 ) — — — Repayment (17,610,988 ) (12 ) (17,611,000 ) (5,900,311 ) (23,272 ) (5,923,583 ) Others (*) (1,195,749 ) (23,274 ) (1,219,023 ) (20,143 ) — (20,143 ) Ending balance W 57,142,298 267,135 57,409,433 47,293,109 — 47,293,109 (*) Included the effects from changes in foreign exchange 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, 2019 and 2020 are as follows: 2019 Securities at fair value through 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 2020 Securities at fair value through Securities at amortized cost 12 months Life time Total 12 months Life time Total Beginning allowance W 27,581 655 28,236 9,759 11 9,770 Transfer to 12 months expected credit loss 22 (22 ) — — — — Transfer to life time expected credit loss (193 ) 193 — — — — Transfer to impaired financial asset — — — — — — Provision (reversal) 3,480 349 3,829 1,086 (11 ) 1,075 Disposal (9,019 ) (487 ) (9,506 ) — — — Others (*) 622 (10 ) 612 (359 ) — (359 ) Ending balance W 22,493 678 23,171 10,486 — 10,486 (*) Included the effects from changes in foreign exchange rate, debt restructuring, debt-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, 2019 and 2020 are as follows: 2019 2020 Gain on disposal of securities at FVOCI W 159,883 301,920 Loss on disposal of securities at FVOCI (7,605 ) (28,127 ) Gain on disposal of securities at amortized cost (*) 86 42 Loss on disposal of securities at amortized cost (*) (20 ) (67 ) W 152,344 273,768 (*) The issuers of those securities have exercised the early redemption options and the others. (e) Income or loss on equity securities at fair value through other comprehensive income i) The Group recognizes dividends, amounting to W W ii) The details of disposal of equity securities at fair value through other comprehensive income for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Fair value at the date of disposal W 45,074 69,969 Cumulative net gain at the time of disposal (10,843 ) (38,380 ) |
Loans at amortized cost
Loans at amortized cost | 12 Months Ended |
Dec. 31, 2020 | |
Loans at amortized cost and other assets [Abstract] | |
Loans at amortized cost and other assets | 12. Loans at amortized cost and other assets (a) Loans at amortized cost for configuration by customer as of December 31, 2019 and 2020 are as follows: 2019 2020 Household loans W 134,423,473 146,789,916 Corporate loans 161,029,877 179,011,251 Public and other loans 3,311,735 3,734,629 Loans to banks 2,633,532 5,492,400 Credit card receivables 24,024,491 23,759,422 325,423,108 358,787,618 Discount (27,824 ) (21,948 ) Deferred loan origination costs 534,530 516,815 325,929,814 359,282,485 Less: Allowance for credit loss (2,684,835 ) (3,060,966 ) W 323,244,979 356,221,519 (b) Changes in carrying value of loans at amortized cost and other assets as of December 31, 2019 and 2020 are as follows: 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 — Net increase and decrease (*1) 13,234,263 (1,700,287 ) (222,961 ) 19,326,283 (9,567,098 ) (443,468 ) 1,583,714 33,389 305,336 (315,219 ) (148,875 ) (11,979 ) 22,073,098 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 ) Business combination 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) The amount is due to execution, collection, debt restructuring, investment conversion, exchange rate fluctuation, etc. (*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 — Net increase and decrease (*2) 10,746,289 (230,014 ) 25,245 10,541,520 Charge off — — (29,456 ) (29,456 ) Disposal (*3) (182,212 ) (3 ) (1,062 ) (183,277 ) Business combination 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) The amount is due to execution, collection, debt restructuring, investment conversion, exchange rate fluctuation, etc. (*3) Included the disposal amount of financial instruments for the purpose of collecting loans for credit concentration risk management of non-current W i) Loans at amortized cost 2020 Retail Corporate Credit card Others 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired 12 months Life Impaired Total Beginning 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 Transfer (from) to 12 months expected credit losses 2,891,847 (2,885,809 ) (6,038 ) 6,009,242 (6,006,226 ) (3,016 ) 351,253 (350,651 ) (602 ) 15,976 (15,976 ) — — Transfer (from) to lifetime expected credit losses (3,916,612 ) 3,944,714 (28,102 ) (9,015,428 ) 9,027,416 (11,988 ) (571,971 ) 572,291 (320 ) (85,337 ) 85,337 — — Transfer (from) to credit- impaired financial assets (189,681 ) (157,637 ) 347,318 (195,863 ) (441,969 ) 637,832 (114,388 ) (191,777 ) 306,165 (3,964 ) (37 ) 4,001 — Net increase and decrease (*1) 13,457,675 (556,142 ) 81,131 20,679,401 (1,030,466 ) 15,944 (115,242 ) (202,750 ) 290,907 3,311,105 (33,596 ) 2,402 35,900,369 Charge off — — (254,723 ) — — (317,514 ) — — (572,008 ) — — (2,531 ) (1,146,776 ) Disposal (313,150 ) (897 ) (89,051 ) (731,001 ) — (264,913 ) — — — — — (1,910 ) (1,400,922 ) Ending balance W 138,516,630 8,215,137 466,427 152,338,024 26,210,417 1,057,932 18,969,258 3,951,689 468,377 8,405,173 665,196 18,225 359,282,485 (*1) Other changes are due to debt restructuring, debt-equity swap and changes in foreign exchange rate. (*2) The amount of uncollected loans currently in recovery (principal and interest) is W ii) Other financial assets 2020 12 month credit loss Life time credit Impaired Total Beginning balance W 43,245,002 106,517 45,965 43,397,484 Transfer (from) to 12 month expected credit losses 15,157 (15,123 ) (34 ) — Transfer (from) to lifetime expected credit losses (25,839 ) 25,848 (9 ) — Transfer (from) to credit- impaired financial assets (1,628 ) (7,342 ) 8,970 — Net increase and decrease (*2) 8,633,124 (10,001 ) 30,490 8,653,613 Charge off — — (26,814 ) (26,814 ) Disposal — — (910 ) (910 ) Business combination(Note 47) 15,982 — — 15,982 Ending balance W 51,881,798 99,899 57,658 52,039,355 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) The amount is due to execution, collection, debt restructuring, investment conversion, exchange rate fluctuation, etc. (c) Changes in allowance for credit loss of loans at amortized cost and other financial assets as of December 31, 2019 and 2020 are as follows: 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 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 debt restructuring, debt-equity swap and changes in foreign exchange rate. 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 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 debt restructuring, debt-equity swap and changes in foreign exchange rate. i) Loans at amortized cost 2020 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 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 Transfer (from) to 12 months expected credit losses 20,082 (19,487 ) (595 ) 67,590 (66,777 ) (813 ) 22,148 (21,591 ) (557 ) 164 (164 ) — — Transfer (from) to lifetime expected credit losses (9,077 ) 18,772 (9,695 ) (49,727 ) 55,512 (5,785 ) (11,568 ) 11,834 (266 ) (242 ) 242 — — Transfer (from) to credit- impaired financial assets (3,247 ) (9,010 ) 12,257 (1,590 ) (52,383 ) 53,973 (901 ) (2,041 ) 2,942 (13 ) (9 ) 22 — Provision (reversal) 5,253 (5,319 ) 199,765 149,400 211,341 265,557 103,793 210,592 137,254 4,188 2,048 6,823 1,290,695 Charge off — — (254,723 ) — — (317,514 ) — — (572,008 ) — — (2,531 ) (1,146,776 ) Amortization of discount — — (5,630 ) — — (15,151 ) — — (7,807 ) — — — (28,588 ) Disposal (343 ) (8 ) (18,605 ) (726 ) — (24,473 ) — — — — — (182 ) (44,337 ) Collection — — 85,819 — — 63,822 — — 200,234 — — 134 350,009 Others (*) 2,954 10,075 20,809 (16,085 ) (13,896 ) (7,579 ) (83,448 ) (189,589 ) 232,048 (164 ) 3 — (44,872 ) Ending balance W 149,034 86,048 198,440 568,614 665,083 481,244 203,908 374,453 306,690 11,434 9,601 6,417 3,060,966 (*) Other changes are due to debt restructuring, debt-equity swap and changes in foreign exchange rate. ii) Other financial assets 2020 12 months credit loss Life time credit loss Impaired Total Beginning balance W 33,987 7,272 37,590 78,849 Transfer (from) to 12 months expected credit losses 286 (273 ) (13 ) — Transfer (from) to lifetime expected credit losses (259 ) 264 (5 ) — Transfer (from) to credit- impaired financial assets (256 ) (1,492 ) 1,748 — Provision (reversal) (2,143 ) 2,650 33,278 33,785 Charge off — — (26,814 ) (26,814 ) Disposal (2 ) — (32 ) (34 ) Collection — — 2,166 2,166 Others (*2) 4,078 (140 ) 1,012 4,950 Ending balance W 35,691 8,281 48,930 92,902 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) Other changes are due to debt restructuring, debt-equity swap and changes in foreign exchange rate. (d) Changes in deferred loan origination costs for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Beginning balance W 497,368 534,530 Loan origination 232,943 257,034 Amortization (208,998 ) (274,749 ) Business combination 13,217 — Ending balance W 534,530 516,815 |
Property and equipment, net
Property and equipment, net | 12 Months Ended |
Dec. 31, 2020 | |
Property and equipment, net [Abstract] | |
Property and equipment, net | 13. Property and equipment (a) Details of property and equipment as of December 31, 2019 and 2020 are as follows: 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 2020 Acquisition Accumulated Carrying Land W 2,219,227 — 2,219,227 Buildings 1,230,187 (419,426 ) 810,761 Right-of-use 1,016,183 (425,766 ) 590,417 Others 2,197,485 (1,828,193 ) 369,292 W (2,673,385) 3,989,697 (b) Changes in property and equipment for the years ended December 31, 2019 and 2020 are as follows: 2019 Land Buildings Right-of-use Others Total Beginning balance W 1,827,711 852,569 583,576 313,853 3,577,709 Acquisition (*1) 69,045 16,946 805,783 184,630 1,076,404 Disposal (*1) (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 — — 31,589 11,653 43,242 Ending balance W 1,815,112 790,449 1,112,796 364,971 4,083,328 (*1) W (*2) Included buildings, and land. 2020 Land Buildings Right-of-use Others Total Beginning balance W 1,815,112 790,449 1,112,796 364,971 4,083,328 Acquisition (*1) 78,066 56,828 305,958 140,958 581,810 Disposal (*1) (92,683 ) (46,897 ) (24,173 ) (2,398 ) (166,151 ) Depreciation — (56,041 ) (286,028 ) (133,437 ) (475,506 ) Amounts transferred from(to) investment property 55,316 (51,252 ) — — 4,064 Amounts transferred from(to) intangible assets — — — 3,738 3,738 Amounts transferred from(to) non-current (31,622 ) (11 ) — — (31,633 ) Amounts transferred from(to) right-of-use 395,346 118,091 (513,437 ) — — Others — — — (2,235 ) (2,235 ) Effects of foreign currency movements (308 ) (406 ) (5,380 ) (2,459 ) (8,553 ) Business combination (Note 47) — — 681 154 835 Ending balance W 2,219,227 810,761 590,417 369,292 3,989,697 (*1) W (*2) Included buildings, and land. (c) Insured assets and liability insurance as of December 31, 2020 are as follows: 2020 Type of insurance Insured assets and objects Amount Insurance company Comprehensive insurance for financial institutions Cash(including W 25,200 Samsung Fire & Marine Insurance Co., Ltd.,etc. Comprehensive Property insurance Property Total Risk, 1,510,644 Samsung Fire & Marine Insurance Co., Ltd., etc. Fire insurance Business property 24,235 Meritz Fire & Marine Insurance Co., Ltd., etc. Compensation liability insurance for officers Officer liability of 110,000 Meritz Fire & Marine Insurance Co., Ltd., etc. Compensation liability insurance for employee accident Employee 71,287 Meritz Fire & Marine Insurance Co., Ltd., etc. Burglary insurance Cash and securities 80,165 Samsung Fire & Marine Insurance Co., Ltd., etc. Others Personal 32,549 Samsung Fire & Marine Insurance Co., Ltd., etc. |
Intangible assets, net
Intangible assets, net | 12 Months Ended |
Dec. 31, 2020 | |
Intangible assets, net [Abstract] | |
Intangible assets, net | 14. Intangible assets (a) Details of intangible assets as of December 31, 2019 and 2020 are as follows: 2019 2020 Goodwill W 4,690,049 4,689,792 Software 129,235 144,535 Development cost 144,100 183,592 Others 595,330 462,700 W 5,480,619 (b) Changes in intangible assets for the years ended December 31, 2019 and 2020 are as follows: 2019 Goodwill Software Development Others Total Beginning balance W 3,903,518 102,393 82,536 231,687 4,320,134 Acquisition — 56,834 71,713 675,070 803,617 Disposal — (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 Business combination 786,531 9,469 30,435 44,850 871,285 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 were impaired. 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 as of December 31, 2019, the impairment loss is recognized. (*3) Included in general administrative expense and other operating income of the consolidated statements of comprehensive income. 2020 Goodwill Software Development Others Total Beginning balance W 4,690,049 129,235 144,100 595,330 5,558,714 Acquisition — 64,195 105,101 64,079 233,375 Disposal — (1 ) (75 ) (26,785 ) (26,861 ) Amounts transferred from(to) property and equipment — 1,415 (7,820 ) 2,667 (3,738 ) Impairment (*1)(*2) (14,235 ) — — (27,075 ) (41,310 ) Amortization (*3) — (49,159 ) (57,690 ) (145,756 ) (252,605 ) Effects of foreign currency movements — (1,150 ) (24 ) (222 ) (1,396 ) Business combination (Note 47) 13,978 — — 462 14,440 Ending balance W 4,689,792 144,535 183,592 462,700 5,480,619 (*1) The number of customer contacts decreased due to the decrease in the base interest rate in Indonesia in 2020 and the impact of COVID-19. W W W (*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, 2020, the impairment loss amounted to W non-operating (*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, 2019 and 2020 2019 2020 Banking W 810,058 795,823 Credit card 2,880,383 2,880,383 Securities 7,904 7,904 Life insurance (Shinhan Life Insurance Co., Ltd.) 275,371 275,371 Life insurance (Orange Life Insurance Co., Ltd.) 564,576 564,576 Others 151,757 165,735 W 4,690,049 4,689,792 ii) Changes in goodwill for the years ended December 31, 2019 and 2020 2019 2020 Beginning balance W 3,903,518 4,690,049 Acquisitions through business combinations (*1)(*2) 786,531 13,978 Impairment losses — (14,235 ) Ending balance W 4,690,049 4,689,792 (*1) It is the goodwill recognized by the Group as it newly acquired the Neoflux Co., Ltd. (Note 47) (*2) It is the goodwill recognized by the Group as it newly acquired the 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. iii) Goodwill impairment test The recoverable amounts of each CGU are evaluated based on their respective value in use. • Explanation on evaluation method The income approach is 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, 5.5 years of cash flow estimates are used in projection and the value thereafter is reflected as terminal value. 30 years and 60 years of cash flow estimates for Shinhan Life and Orange Life, respectively are applied and the present value of the future cash flows thereafter is not applied as it is not significant. • Discount rates and terminal growth rates The required rates of return expected by shareholders are applied to the discount rates. It is calculated in consideration of which comprises a risk-free interest rate, a market risk premium and systemic risk (beta factor). In addition, terminal growth rate is estimated based on inflation rate. • Discount rates and terminal growth rates applied to each CGU are as follows: Discount rate(%) Terminal growth rate(%) Banking 9.3~13.1 1.0~2.0 Credit card 8.4~12.9 1.0~2.0 Securities 12.3~13.0 2.0 Life insurance (Shinhan Life Insurance) 7.0 — Life insurance (Orange Life Insurance Co., Ltd.) 7.0 — Others 10.9~13.5 1.0 iv) Key assumptions Key assumptions used in the discounted cash flow calculations of CGUs (other than life insurance components) are as follows: 2020 2021 2022 2023 2024 2025 CPI growth(%) 0.4 1.2 1.8 1.7 1.7 1.7 Private consumption growth(%) (3.2 ) 2.6 2.8 2.6 2.4 2.4 Real GDP growth(%) (1.8 ) 2.6 2.9 2.7 2.7 2.7 Key assumptions used in the discounted cash flow calculations of life insurance components are as follows: Key assumptions Rate of return on investment(%) 2.4~2.8 Risk-based capital ratio(%) 150.0 v) Total recoverable amount and total carrying value of CGUs to which goodwill has been allocated, are as follows: Amount Total recoverable amount W 49,034,706 Total carrying value (*1) 43,690,747 W 5,343,959 (*1) It is the carrying amount after reflecting the impairment loss in the banking sector. (*2) The goodwill that the fair value assessment of the intangible asset identification and identification assets for allocation of the consideration for Neoplux Co., Ltd. is excluded because the valuations are not completed(Note 47). |
Investments in associates
Investments in associates | 12 Months Ended |
Dec. 31, 2020 | |
Investments in associates [Abstract] | |
Investments in associates | 15. Investments in associates (a) Investments in associates as of December 31, 2019 and 2020 are as follows: Investees Country Date of financial Ownership (%) 2019 2020 BNP Paribas Cardif Life Insurance (*1)(*2) Korea September 30 14.99 14.99 Songrim Partners (*1)(*3) Korea December 31 35.34 35.34 Neoplux Technology Valuation Investment Fund (*11) Korea — 33.33 — Partners 4th Growth Investment Fund (*1) Korea September 30 25.00 25.00 KTB Newlake Global Healthcare PEF (*1) Korea September 30 30.00 30.00 Daekwang Semiconductor Co., Ltd. (*1)(*3) Korea September 30 20.94 20.94 Shinhan-Neoplux Energy Newbiz Fund Korea December 31 23.33 31.66 Shinhan-Albatross tech investment Fund (*4) Korea December 31 50.00 49.97 Plutus-SG Korea — 26.67 — Eum Private Equity Fund No.3 Korea December 31 20.76 20.76 KTB Confidence Private Placement (*6) Korea — 31.43 — Meritz AI-SingA330-A Korea December 31 23.89 23.89 Meritz AI-SingA330-B Korea December 31 20.16 20.16 VOGO Debt Strategy Qualified INV Private Korea December 31 20.00 20.00 Shinhan-Midas Donga Secondary Fund (*5) Korea December 31 50.00 50.00 ShinHan – Soo Young Entrepreneur Investment Fund No.1 Korea December 31 24.00 24.00 Synergy-Shinhan Mezzanine New Technology Investment Fund (*6) Korea — 47.62 — Shinhan Praxis K-Growth Korea December 31 18.87 18.87 Credian Healthcare Private Equity Fund II Korea December 31 34.07 34.07 Kiwoom Milestone Professional Private Real Estate Trust 19 Korea December 31 50.00 50.00 AIP EURO Green Private Real Estate Trust No.3 Korea December 31 21.28 21.28 Hanhwa US Equity Strategy Private Real Estate Fund No.1 Korea December 31 44.84 44.84 Shinhan Global Healthcare Fund 1 (*8) Korea December 31 4.41 4.41 JB Power TL Investment Type Private Placement Special Asset Fund 7 Korea December 31 33.33 33.33 IBK AONE convertible 1 (*6) Korea — 47.25 — Rico synergy collabo Multi-Mezzanine Korea — 50.03 — KB NA Hickory Private Special Asset Fund Korea December 31 37.50 37.50 Investees Country Date of financial Ownership (%) 2019 2020 Koramco Europe Core Private Placement Real Estate Fund No.2-2 Korea December 31 44.02 44.02 BNP Paribas Cardif General Insurance (*1)(*2) Korea September 30 10.00 7.46 Axis Global Growth New Technology Investment Association (*6) Korea — 31.85 — Hermes Private Investment Equity Fund Korea December 31 29.17 29.17 SHC ULMUS Fund No.1 (*6) Korea — 29.41 — Shinhan-Nvestor Liquidity Solution Fund Korea December 31 24.92 24.92 Shinhan AIM FoF Fund 1a Korea December 31 25.00 25.00 IGIS Global Credit Fund 150-1 Korea December 31 25.00 25.00 GX Shinhan Intervest 1st Private Equity Fund (*6) Korea — 25.27 — Soo Commerce Platform Growth Fund Korea December 31 24.62 24.62 Partner One Value up I Private Equity Fund Korea December 31 27.91 27.91 Genesis No.1 Private Equity Fund Korea December 31 22.80 22.80 GMB ICT New Technology Investment Fund (*6) Korea — 26.75 — Korea Omega Project Fund III Korea December 31 23.53 23.53 Soo Delivery Platform Growth Fund Korea December 31 30.00 30.00 Genesis North America Power Company No.1 PEF Korea December 31 39.92 39.96 Hyungje art printing (*1)(*3) Korea December 31 31.54 31.54 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 Korea December 31 23.33 23.33 Shinhan-Rhinos 1 Fund Korea December 31 22.48 22.48 Pacific Private Investment Trust No.20 Korea December 31 21.74 21.74 Susung Mezzanine project P1 Private Investment Trust Korea December 31 41.18 41.31 Korea Finance Security (*1)(*8) Korea September 30 14.91 14.91 Multimedia Tech Co.Ltd (*1)(*3) Korea December 31 21.06 21.06 MIEL CO.,LTD (*1)(*3) Korea December 31 28.77 28.77 AIP Transportation Specialized Privately Placed Fund Trust #1 Korea December 31 35.73 35.73 DB Epic Convertiblebond Private Trust No.2 (*7)(*9) Korea December 31 50.00 50.98 PCC S/W 2nd Fund (*6) Korea — 29.56 — E&Healthcare Investment Fund No.6 Korea December 31 20.37 21.05 One Shinhan Global Fund1 (*4)(*8) Korea December 31 19.98 19.96 Kiwoom-Shinhan Innovation Fund I (*5) Korea December 31 50.00 50.00 Daishin-K&T Korea December 31 31.25 31.25 Midas Asset Global CRE Debt Private Fund No.6 Korea December 31 20.05 41.16 Richmond Private Investment Trust No.82 (*7) Korea December 31 60.00 60.00 Tiger Alternative Real Estate Professional Private5 Korea December 31 48.71 48.71 Samchully Midstream Private Placement Special Asset Fund 5-4 Korea December 31 42.92 42.92 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 Korea December 31 20.00 20.00 AUCTUS FITRIN Corporate Recovery Private Equity Fund (*6) Korea — 21.43 — Investees Country Date of financial Ownership (%) 2019 2020 NH-Amundi Korea December 31 30.00 30.00 Pacific Private Real Estate Fund Investment Trust No.30 (*6) Korea — 37.50 — Jarvis Memorial Private Investment Trust 1 (*7) Korea December 31 99.01 99.01 Mastern Private Private Invetstment Trust 68 (*7) Korea December 31 53.76 53.76 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 (*7) Korea December 31 60.00 60.00 Milestone Private Real Estate Fund 3 (Derivative Type) Korea December 31 32.06 32.06 IGIS Private Real Estate Investment Trust 286 Korea December 31 41.56 41.44 Nomura-Rifa Private Real Estate Investment Trust 31 Korea December 31 31.31 31.31 Lime Pricing Private Equity Fund (*6) Korea — 25.85 — SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 Korea December 31 21.27 21.27 DS Solid.II Hedge Fund (*6) Korea — 27.41 — Hana Semiconductor New Technology Fund Korea December 31 24.30 24.30 J&Magnet Startup Venture Specialized Private Equity Fund Korea December 31 24.39 24.39 Cape IT Fund No.3 Korea December 31 32.89 32.89 FuturePlay-Shinhan TechInnovation Fund 1 (*5) Korea December 31 50.00 50.00 Stonebridge Corporate 1st Fund Korea December 31 44.12 44.12 Vogo Realty Partners Private Real Estate Fund V Korea December 31 21.64 21.64 IL GU FARM CO.,LTD (*6) Korea — 28.47 — Korea Credit Bureau (*1)(*8) Korea September 30 9.00 9.00 Goduck Gangil1 PFV Co., Ltd (*1)(*8) Korea September 30 1.04 1.04 SBC PFV Co., Ltd (*1)(*10) Korea September 30 25.00 25.00 Sprott Global Renewable Private Equity Fund II (*6) Korea — 23.10 — NH-amundi Korea December 31 50.00 50.00 IMM Global Private Equity Fund Korea December 31 31.85 33.00 HANA Alternative Estate Professional Private122 (*7) Korea December 31 75.19 75.19 Hanwha-Incus Plus New Technology Fund No.1 Korea December 31 42.64 42.64 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] Korea December 31 45.96 45.96 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust (*12) Korea December 31 57.50 72.39 PSA EMP Private Equity Fund Korea December 31 28.99 28.99 Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 (*7) Korea December 31 52.28 52.28 SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] Korea — 25.70 — SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] Korea — 25.42 — BRAIN DO PROFESSIONALE PRIVATE No. 27 Korea December 31 29.13 29.13 VISION US Muni US Local Debt Opportunities Professional Private1 (*11) Korea — 25.00 — Investees Country Date of financial Ownership (%) 2019 2020 UI Venture Fund 7th (*5) Korea December 31 — 24.39 Sparklabs-Shinhan Opportunity Fund 1 (*5) Korea December 31 — 49.50 BNW Tech-Innovation Private Equity Fund (*5) Korea December 31 — 29.85 IGIS Real-estate Private Investment Trust No.33 Korea December 31 — 40.86 Findvalue PreIPO 6th Professional Investment Type Private Investment Trust Korea December 31 — 31.58 WWG Global Real Estate Investment Trust no.4 Korea December 31 — 29.55 Fidelis Global Private Real Estate Trust No.2 (*7) Korea December 31 — 78.26 IGIS PRIVATE REAL ESTATE TRUST NO.331 Korea December 31 — 30.77 AIP EURO PRIVATE REAL ESTATE TRUST No. 12 Korea December 31 — 28.70 Pebblestone CGV Private Real Estate Trust No.1 Korea December 31 — 48.53 Shinhan AIM Real Estate Fund No.2 Korea December 31 — 30.00 Shinhan AIM Real Estate Fund No.1 Korea December 31 — 21.01 SHBNPP Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust [Infra business] Korea December 31 — 22.02 SHBNPP Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust [Infra business] Korea December 31 — 29.19 SHBNPP Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2(USD) Korea December 31 — 71.43 SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No. 1 [Equity securities-Derivative] Korea December 31 — 30.00 Korea Omega-Shinhan Project Fund I (*5) Korea December 31 — 50.00 New Green Shinhan Mezzanine Fund (*5) Korea December 31 — 39.22 KORAMKO-Daum Professional Private Investment Trust No.12 Korea December 31 — 33.33 Samsung SRA Real Estate Professional Private 45[FoFs] Korea December 31 — 25.00 IBK Global New Renewable Energy Special Asset Professional Private2 Korea December 31 — 28.98 VS Cornerstone Fund Korea December 31 — 41.18 Aone Mezzanine Opportunity Professional Private (*7) Korea December 31 — 66.12 KiwoomUnicorn3New Technology Business Investment Fund Korea December 31 — 21.28 Multi Asset The United States Thortons Professional Private1 Korea December 31 — 25.00 Kiwoom Milestone US Real Estate Professional Private20 (*7) Korea December 31 — 75.27 NH-Amundi Korea December 31 — 25.91 KB Distribution Private Real Estate1 (*7) Korea December 31 — 62.00 Investees Country Date of financial Ownership (%) 2019 2020 SHBNPP Jigae Namsan BTO professional Investment Type Private Special Asset Investment Trust [Infra business] Korea December 31 — 28.93 SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No.2 [Loan-Derivative] Korea December 31 — 30.00 Kakao-Shinhan 1st TNYT Fund (*5) Korea December 31 — 48.62 IMM Special Situation 1-2 Korea December 31 — 20.02 Pacific Private Placement Real Estate Fund No.40 Korea December 31 — 24.73 Mastern Private Real Estate Loan Fund No.2 Korea December 31 — 33.57 LB Scotland Amazon Fulfillment Center Fund 29 (*7) Korea December 31 — 70.14 JR AMC Hungary Budapest Office Fund 16 Korea December 31 — 32.57 IGIS 372 Real Estate Professional Private Korea December 31 — 28.39 KoFC-Neoplux R&D-Biz 2013-1 Korea December 31 — 19.00 Future-Creation Neoplux Venture Capital Fund (*4) Korea December 31 — 16.25 Gyeonggi-Neoplux Superman Fund (*4) Korea December 31 — 21.76 NewWave 6th Fund (*4) Korea December 31 — 30.00 Neoplux No.3 Private Equity Fund (*4) Korea December 31 — 10.00 PCC Amberstone Private Equity Fund I Korea December 31 — 21.67 KIAMCO POWERLOAN TRUST 4TH Korea December 31 — 47.37 Mastern Opportunity Seeking Real Estate Fund II Korea December 31 — 20.00 AION ELFIS PROFESSIONAL PRIVATE 1 Korea December 31 — 20.00 T&F 2020 SS Private Equity Fund Specializing in Start-up Korea December 31 — 29.68 Neoplux Market-Frontier Secondary Fund (*4) Korea December 31 — 19.74 Synergy Green New Deal 1st New Technology Business Investment Fund Korea December 31 — 28.17 KAIM Real-estate Private Investment Trust 20 Korea December 31 — 38.46 KIAMCO Vietnam Solar Special Asset Private Investment Trust Korea December 31 — 50.00 CSQUARE SNIPER PROFESSIONAL PRIVATE 10 (*7) Korea December 31 — 62.50 IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-1 Korea December 31 — 97.85 IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-2 Korea December 31 — 97.85 Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 Korea December 31 — 25.00 IGIS Professional Investors Private Investment Real Estate Investment LLC No.395 (*7) Korea December 31 — 58.82 SHBNPP Green New Deal Energy Professional Investment Type Private Special Asset Investment Trust No.2 Korea December 31 — 30.00 Investees Country Date of financial Ownership (%) 2019 2020 Eum Private Equity Fund No.7 Korea December 31 — 21.00 Kiwoom Private Equity Ant-Man Korea December 31 — 25.00 Kiwoom Hero No.4 Private Equity Fund Korea December 31 — 21.05 Vogo Canister Professional Trust Private Fund I Korea December 31 — 36.68 (*1) The latest financial statements are used for the equity method since the financial statements as of December 31, 2020 are not available. Significant trades and events occurred within the period are properly reflected. (*2) The Group applies the equity method accounting as the Group has a significant influence on the investees through important business transactions. (*3) 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 are completed and now the Group can normally exercise its voting rights to the investees. (*4) As a managing partner, the Group has a significant influence over the investees. (*5) 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. (*6) Excluded from the investments in associates due to full or partial disposal of shares, or loss of significant influence. (*7) Although the ownership interests are 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. (*8) Although the ownership percentages are 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. (*9) For the year ended December 31, 2020, the name is changed from ‘Lime Neptune Professional Private 6’ to ‘DB Epic Convertible bond Private Trust No.2’. (*10) The rate of Group’s voting rights is 4.65%. (*11) For the year ended December 31, 2020, it is incorporated into the consolidation target as it held control due to increased equity ratio. (*12) It has a significant influence with a 50% or more stake. However, the full payment guarantee for the investment does not expose the variable profit. Therefore, the investment amount is classified as an investment assets in the associates. (b) Changes in investments in associates for the years ended December 31, 2019 and 2020 are as follows: 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 ) — — — 2019 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance 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 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 3 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 2019 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance Korea Omega Project Fund III W 1,992 — 1,024 — — 3,016 Soo Delivery Platform Growth Fund 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 — 9,888 278 — — 10,166 2019 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance Mastern Private 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 — 10,000 (73 ) — — 9,927 2019 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance 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 724,902 53,287 3,342 — 1,452,861 (*1) The Group has stopped recognizing its equity method income or loss due to the carrying amount of ‘0’ resulting from 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-equity swap in 2019. 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance BNP Paribas Cardif Life Insurance W 52,586 — (928 ) (1,058 ) — 50,600 Songrim Partners (*1) — — — — — — Neoplux Technology Valuation Investment Fund (*3) 16,384 (16,171 ) (213 ) — — — Partners 4th Growth Investment Fund 14,917 (4,474 ) 1,515 — — 11,958 KTB Newlake Global Healthcare PEF 11,280 (1,950 ) 74 — — 9,404 Daekwang Semiconductor Co., Ltd. 3,388 — 243 — — 3,631 Shinhan-Neoplux Energy Newbiz Fund (*4) 7,880 5,887 703 — — 14,470 Shinhan-Albatross tech investment Fund 8,734 4,650 (62 ) — — 13,322 Plutus-SG 4,231 (5,230 ) 999 — — — Eum Private Equity Fund No.3 3,574 (5,621 ) 2,050 — — 3 KTB Confidence Private Placement 6,067 (6,063 ) (4 ) — — — 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance Meritz AI-SingA330-A W 4,256 (772 ) (3,484 ) — — — Meritz AI-SingA330-B 8,916 (48 ) (8,868 ) — — — VOGO Debt Strategy Qualified INV Private 9,930 (1,700 ) 472 — — 8,702 Shinhan-Midas Donga Secondary Fund 3,486 1,150 116 — — 4,752 ShinHan – Soo Young Entrepreneur Investment Fund No.1 4,549 1,495 3,924 — — 9,968 Synergy-Shinhan Mezzanine New Technology Investment Fund 3,912 (4,406 ) 494 — — — Shinhan Praxis K-Growth 10,302 78 (435 ) — — 9,945 Credian Healthcare Private Equity Fund II 2,377 (4,937 ) 8,395 — — 5,835 Kiwoom Milestone Professional Private Real Estate Trust 19 10,407 (265 ) (224 ) — — 9,918 AIP EURO Green Private Real Estate Trust No.3 20,884 (1,189 ) 1,326 — — 21,021 Hanhwa US Equity Strategy Private Real Estate Fund No.1 25,964 (26,907 ) 3,220 — — 2,277 Shinhan Global Healthcare Fund 1 3,209 — 128 — (3,337 ) — JB Power TL Investment Type Private Placement Special Asset Fund 7 16,800 (1,359 ) 745 — — 16,186 IBK AONE convertible 1 6,077 (6,048 ) (29 ) — — — Rico synergy collabo Multi-Mezzanine 3 3,217 (3,221 ) 4 — — — KB NA Hickory Private Special Asset Fund 35,930 (2,609 ) 1,617 — — 34,938 Koramco Europe Core Private Placement Real Estate Fund No.2-2 19,562 (1,330 ) 386 — — 18,618 BNP Paribas Cardif General Insurance 2,113 3,066 (1,244 ) (40 ) — 3,895 Axis Global Growth New Technology Investment Association 3,205 (2,920 ) (285 ) — — — Hermes Private Investment Equity Fund 6,376 — (277 ) — — 6,099 SHC ULMUS Fund No.1 3,149 (3,289 ) 140 — — — Shinhan-Nvestor Liquidity Solution Fund 4,865 (1,004 ) 632 — — 4,493 Shinhan AIM FoF Fund 1a 7,242 1,324 194 — — 8,760 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance IGIS Global Credit Fund 150-1 W 9,718 (4,002 ) 1,566 — — 7,282 GX Shinhan Intervest 1st Private Equity Fund 33,166 (54,515 ) 21,349 — — — Soo Commerce Platform Growth Fund 6,343 (8,474 ) 3,278 — — 1,147 Partner One Value up I Private Equity Fund 11,891 (20 ) (92 ) — — 11,779 Genesis No.1 Private Equity Fund 51,150 388 28,575 — — 80,113 GMB ICT New Technology Investment Fund 7,854 (7,853 ) (1 ) — — — Korea Omega Project Fund III 3,016 — 547 — — 3,563 Soo Delivery Platform Growth Fund 8,922 (7,929 ) 3,075 — — 4,068 Genesis North America Power Company No.1 PEF 18,275 (3,869 ) 2,577 — — 16,983 Hyungje art printing (*1) — — — — — — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 20,712 (10,794 ) 664 — — 10,582 Shinhan-Rhinos 1 Fund 3,029 (1,004 ) 574 — — 2,599 Pacific Private Investment Trust No.20 4,076 (1,289 ) 212 — — 2,999 Susung Mezzanine project P1 Private Investment Trust 5,128 (3,613 ) (170 ) — — 1,345 Korea Finance Security 3,235 — (180 ) — — 3,055 Multimedia Tech Co.Ltd (*1) 19 — (19 ) — — — MIEL CO.,LTD (*1) — — — — — — AIP Transportation Specialized Privately Placed Fund Trust #1 31,580 1,366 47 — — 32,993 DB Epic Convertiblebond Private Trust No.2 5,063 202 520 — — 5,785 PCC S/W 2nd Fund 3,001 (3,328 ) 327 — — — E&Healthcare Investment Fund No.6 7,776 — 7,387 — — 15,163 One Shinhan Global Fund1 4,441 — (412 ) — — 4,029 Kiwoom-Shinhan Innovation Fund I 7,284 7,500 1,185 — — 15,969 Daishin-K&T 7,057 — (57 ) — — 7,000 Midas Asset Global CRE Debt Private Fund No.6 23,731 21,537 2,121 — — 47,389 Richmond Private Investment Trust No.82 15,120 (855 ) 784 — — 15,049 Tiger Alternative Real Estate Professional Private5 19,820 (1,376 ) 55 — — 18,499 Samchully Midstream Private Placement Special Asset Fund 5-4 30,742 (968 ) (956 ) — — 28,818 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 W 53,831 9,253 2,532 — — 65,616 AUCTUS FITRIN Corporate Recovery Private Equity Fund 14,358 (14,484 ) 126 — — — NH-Amundi 18,497 (460 ) 782 — — 18,819 Pacific Private Real Estate Fund Investment Trust No.30 (*3) 14,816 (15,374 ) 558 — — — Jarvis Memorial Private Investment Trust 1 10,166 (763 ) 640 — — 10,043 Mastern Private Private Invetstment Trust 68 9,999 (460 ) 471 — — 10,010 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 4,397 30,510 734 — — 35,641 Milestone Private Real Estate Fund 3 (Derivative Type) 17,186 (838 ) 2,180 — — 18,528 IGIS Private Real Estate Investment Trust 286 9,768 (1,361 ) 437 — — 8,844 Nomura-Rifa Private Real Estate Investment Trust 31 8,914 (932 ) 425 — — 8,407 Lime Pricing Private Equity Fund 8,300 (8,217 ) (83 ) — — — SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 41,991 (29,980 ) 1,312 — — 13,323 DS Solid.II Hedge Fund 4,123 (6,397 ) 2,274 — — — Hana Semiconductor New Technology Fund 12,856 (2,557 ) 13,832 — — 24,131 J&Magnet Startup Venture Specialized Private Equity Fund 5,979 (2,151 ) 2,107 — — 5,935 Cape IT Fund No.3 9,967 (580 ) 1,262 — — 10,649 FuturePlay-Shinhan TechInnovation Fund 1 868 3,661 (234 ) — — 4,295 Stonebridge Corporate 1st Fund 2,981 — 258 — — 3,239 Vogo Realty Partners Private Real Estate Fund V 10,376 (566 ) 1,017 — — 10,827 IL GU FARM CO.,LTD (*1) — — — — — — Korea Credit Bureau 6,812 (90 ) 254 — — 6,976 Goduck Gangil1 PFV Co., Ltd (*1) 48 — (48 ) — — — SBC PFV Co., Ltd 20,000 — (1,792 ) — — 18,208 Sprott Global Renewable Private Equity Fund II 19,016 (18,909 ) (107 ) — — — 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance NH-amundi W 48,158 (1,236 ) (3,083 ) — — 43,839 IMM Global Private Equity Fund 28,925 90,776 1,154 — — 120,855 HANA Alternative Estate Professional Private122 26,205 (644 ) 4,070 — — 29,631 Hanwha-Incus Plus New Technology Fund No.1 5,499 — 5,527 — — 11,026 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] 51,293 (1,613 ) 1,530 — — 51,210 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust 150,317 127,753 8,461 — — 286,531 PSA EMP Private Equity Fund 9,927 (278 ) 165 — — 9,814 Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 29,463 (239 ) 177 — — 29,401 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 3,065 — 376 — — 3,441 VISION US Muni US Local Debt Opportunities Professional Private1 (*3) 9,869 (10,032 ) 163 — — — UI Venture Fund 7th — 3,000 279 — — 3,279 Sparklabs-Shinhan Opportunity Fund 1 — 4,999 (167 ) — — 4,832 BNW Tech-Innovation Private Equity Fund — 6,000 (58 ) — — 5,942 IGIS Real-estate Private Investment Trust No.33 — 13,945 154 — — 14,099 Findvalue PreIPO 6th Professional Investment Type Private Investment Trust. — 3,000 2 — — 3,002 WWG Global Real Estate Investment Trust no.4 — 16,874 878 — — 17,752 Fidelis Global Private Real Estate Trust No.2 — 18,582 903 — — 19,485 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance IGIS PRIVATE REAL ESTATE TRUST NO.331 W — 3,932 (167 ) — — 3,765 AIP EURO PRIVATE REAL ESTATE TRUST No. 12 — 45,082 3,262 — — 48,344 Pebblestone CGV Private Real Estate Trust No.1 — 12,793 553 — — 13,346 Shinhan AIM Real Estate Fund No.2 (*2) — 36,186 (7,652 ) — (6,070 ) 22,464 Shinhan AIM Real Estate Fund No.1 (*2) — 45,415 1,530 — — 46,945 SHBNPP Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust [Infra business] (*2) — 32,258 686 — — 32,944 SHBNPP Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust [Infra business] (*2) — 22,003 (1,101 ) — — 20,902 SHBNPP Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2(USD) — 7,273 (581 ) — — 6,692 SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No. 1 [Equity securities-Derivative] (*2) — 4,859 (14 ) — — 4,845 Korea Omega-Shinhan Project Fund I — 6,000 (69 ) — — 5,931 New Green Shinhan Mezzanine Fund — 4,000 916 — — 4,916 KORAMKO-Daum Professional Private Investment Trust No.12 — 6,930 598 — — 7,528 Samsung SRA Real Estate Professional Private 45[FoFs] — 10,701 (35 ) — — 10,666 IBK Global New Renewable Energy Special Asset Professional Private2 — 29,177 3,172 — — 32,349 VS Cornerstone Fund — 3,500 (36 ) — — 3,464 Aone Mezzanine Opportunity Professional Private — 8,000 1,580 — — 9,580 KiwoomUnicorn3New Technology Business Investment Fund — 3,000 1,283 — — 4,283 Multi Asset The United States Thortons Professional Private1 (*2) — 44,202 (2,762 ) — — 41,440 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance Kiwoom Milestone US Real Estate Professional Private20 W — 49,791 1,721 — — 51,512 NH- |
Investment properties, net
Investment properties, net | 12 Months Ended |
Dec. 31, 2020 | |
Investment properties, net [Abstract] | |
Investment properties, net | 16. Investment properties (a) Investment properties as of December 31, 2019 and 2020 are as follows: 2019 2020 Acquisition cost W 605,773 767,118 Accumulated depreciation (117,163 ) (151,883 ) Carrying value W 488,610 615,235 (b) Changes in investment properties for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Beginning balance W 474,820 488,610 Acquisition 2,767 244,100 Disposal (73,588 ) (92,337 ) Depreciation (17,565 ) (20,165 ) Amounts transferred from (to) property and equipment 104,573 (4,064 ) Amounts transferred to assets held for sale (*) (15,795 ) (910 ) Foreign currency adjustment (169 ) 1 Business combination (Note 47) 13,567 — Ending balance W 488,610 615,235 (*) Comprise land and buildings, etc. (c) Income and expenses on investment property for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Rental income W 32,488 43,777 23,890 Direct operating expenses for investment properties that generated rental income 12,191 12,107 11,951 (d) The fair value of investment property as of December 31, 2019 and 2020 is as follows: 2019 2020 Land and buildings (*) W 1,062,195 1,254,149 (*) Fair value of investment properties is estimated based in the recent market transaction conditions with an independent third party 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, 2020 | |
Other assets, net [Abstract] | |
Other assets, net | 17. Other assets (a) Other assets as of December 31, 2019 and 2020 are as follows: 2019 2020 Accounts receivable W 9,355,388 12,511,880 Domestic exchange settlement debit 4,337,628 4,055,744 Guarantee deposits 1,184,572 1,145,045 Present value discount on guarantee deposits (45,316 ) (33,062 ) Accrued income 2,612,823 2,535,847 Prepaid expense 193,849 202,218 Provisional payments 71,764 183,935 Sundry assets 93,766 106,341 Separate account assets 8,253,351 9,267,722 Advance payments 317,365 203,023 Unamortized deferred acquisition cost 907,868 979,942 Others 661,998 1,118,926 Allowances for credit loss of other assets (66,775 ) (82,895 ) W 32,194,666 (b) Changes in unamortized deferred acquisition cost by insurance type for the year ended December 31, 2020 are as follows: 2020 Beginning Acquisition cost incurred Amortization Ending Cost Expensed Deferral Individual insurance Pure endowment insurance W 67,856 11,602 (6,450 ) 5,152 (35,504 ) 37,504 Death insurance 834,415 771,973 (298,355 ) 473,618 (375,111 ) 932,922 Endowment insurance 4,764 19,024 (11,001 ) 8,023 (3,862 ) 8,925 907,035 802,599 (315,806 ) 486,793 (414,477 ) 979,351 Group insurance Pure protection 833 343 (164 ) 179 (421 ) 591 W 907,868 802,942 (315,970 ) 486,972 (414,898 ) 979,942 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Leases | 18. Leases (a) Gross investment and present value of minimum lease payment of finance lease as of December 31, 2019 and 2020, are as follows: 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 for the year ended December 31, 2019 is W74,933 million. 2020 Gross investment Unearned finance Present value of Not later than 1 year W 678,790 73,230 605,560 1 ~ 2 years 527,757 43,701 484,056 2 ~ 3 years 391,447 21,169 370,278 3 ~ 4 years 219,040 6,089 212,951 4 ~ 5 years 93,975 432 93,543 Later than 5 years 6,320 53 6,267 W 1,917,329 144,674 1,772,655 (*) Interest income on finance lease receivables recognized for the year ended December 31, 2020 is W76,742 million. (b) Minimum lease payment receivable schedule for lease contracts of the Group as lessor as of December 31, 2019 and 2020 are as follows: i) Finance lease 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 2020 Minimum lease Present value Present value of Not later than 1 year W 678,790 73,230 605,560 1 ~ 2 years 527,757 43,701 484,056 2 ~ 3 years 391,447 21,169 370,278 3 ~ 4 years 219,040 6,089 212,951 4 ~ 5 years 93,975 432 93,543 Later than 5 years 6,320 53 6,267 W 1,917,329 144,674 1,772,655 ii) Operating lease Minimum lease payment 2019 2020 Not later than 1 year W 142,140 276,590 1 ~ 2 years 118,781 233,443 2 ~ 3 years 76,379 182,261 3 ~ 4 years 37,047 124,556 4 ~ 5 years 14,984 52,997 Later than 5 years 83 95,414 W 389,414 965,261 (c) Changes in operating lease assets for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Beginning balance W 370,868 549,741 Acquisition 411,971 681,607 Disposal (134,810 ) (54,042 ) Depreciation (98,288 ) (163,006 ) Ending balance W 549,741 1,014,300 (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 2020 Acquisition Accumulated Carrying Real estate W 953,135 (396,716 ) 556,419 Vehicle 36,680 (16,059 ) 20,621 Others 26,368 (12,991 ) 13,377 W (425,766) 590,417 (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 Acquisition 781,097 16,523 8,163 805,783 Disposal (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 30,837 584 168 31,589 Ending balance W 1,077,803 21,994 12,999 1,112,796 2020 Real estate Vehicle Others Total Beginning balance W 1,077,803 21,994 12,999 1,112,796 Acquisition 286,981 12,556 6,421 305,958 Disposal (21,763 ) (2,394 ) (16 ) (24,173 ) Depreciation (268,376 ) (11,625 ) (6,027 ) (286,028 ) Substitution (513,437 ) — — (513,437 ) Effects of foreign currency movements (5,375 ) (5 ) — (5,380 ) Business combination (Note 47) 586 95 — 681 Ending balance W 556,419 20,621 13,377 590,417 (f) The details of the maturity of the lease liability as of December 31, 2019 and 2020 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. 2020 1 month 1 month ~ 3 months ~ 6 months ~ 1 year ~ More than Total Real estate W 22,560 36,746 49,746 90,057 287,932 69,083 556,124 Vehicle 3,404 1,840 2,490 4,765 11,632 — 24,131 Others 520 806 1,203 2,031 9,345 1 13,906 W 39,392 53,439 96,853 308,909 69,084 594,161 (g) The lease payments for low-value 2019 2020 Low-value W 5,045 6,181 Short-term lease (*) 907 836 Total W 5,952 7,017 (*) The payments for leases with terms less than 1 month are included. |
Pledged assets
Pledged assets | 12 Months Ended |
Dec. 31, 2020 | |
Pledged assets [Abstract] | |
Pledged assets | 19. Pledged assets (a) Assets pledged as collateral as of December 31, 2019 and 2020 are as follows: 2019 2020 Reasons for collateral Loans at amortized cost W 128,163 — Borrowings Securities: Securities at FVTPL 15,016,057 15,328,573 Customer RP Securities at FVOCI 2,387,555 4,058,033 Borrowings, Settlement security for Bank of Korea, Borrowing securities, etc Securities at amortized cost 12,791,744 14,516,567 Borrowings, Settlement security for Bank of Korea, Customer RP, etc 30,195,356 33,903,173 Deposits at amortized cost 1,090,161 784,626 Borrowings Property and Equipment (real estate) 121,446 301,098 Set for near mortgage, etc Other financial assets 404 355 Performance guarantee, etc W 31,535,530 34,989,252 (*) 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 2019 Collateral held The fair value of re-provided as collateral Assets pledged Assets received Securities W 9,240,573 2,007,036 — 2020 Collateral held The fair value of re-provided as collateral Assets pledged Assets received Securities W 10,487,095 2,871,910 — |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2020 | |
Deposits [Abstract] | |
Deposits | 20. Deposits Deposits as of December 31, 2019 and 2020 are as follows: 2019 2020 Demand deposits: Korean won W 103,048,895 132,444,929 Foreign currencies 13,233,812 16,280,268 116,282,707 148,725,197 Time deposits: Korean won 139,824,896 137,719,464 Foreign currencies 18,602,551 20,114,427 158,427,447 157,833,891 Certificates of deposits 9,707,791 5,946,704 Discount note deposits 4,579,587 6,226,937 CMA 3,987,372 4,006,319 Others 1,889,352 3,677,820 W 294,874,256 326,416,868 |
Financial liabilities at fair v
Financial liabilities at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2020 | |
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, 2019 and 2020 are as follows: 2019 2020 Securities sold: Stocks W 298,008 387,857 Bonds 825,942 503,920 Others 40,747 5,352 1,164,697 897,129 Gold/silver deposits 467,760 539,565 W 1,632,457 1,436,694 |
Financial liabilities designate
Financial liabilities designated at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2020 | |
Financial liabilities designated at fair value through profit or loss [Abstract] | |
Financial liabilities designated at fair value through profit or loss | 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, 2019 and 2020 are as follows: 2019 2020 Reason for designation Equity-linked securities sold W 6,880,811 6,556,288 Combined instrument Securities sold with embedded derivatives 2,528,645 1,899,436 W 9,409,456 8,455,724 (*) 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 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2020 | |
Borrowings [Abstract] | |
Borrowings | 23. Borrowings Borrowings as of December 31, 2019 and 2020 are as follows: 2019 2020 Interest Amount Interest Amount Borrowings denominated in Korean won: Borrowings from Bank of Korea 0.50~0.75 W 2,429,346 0.25 W 5,351,110 Others 0.00~6.00 14,202,096 0.00~6.20 16,375,272 16,631,442 21,726,382 Borrowings denominated in foreign currencies: Overdraft due from banks 0.00 86,791 0.00 71,309 Borrowings from banks 0.11~7.50 6,576,849 0.00~8.00 5,423,571 Others 1.94~13.65 1,748,031 0.00~12.45 1,538,021 8,411,671 7,032,901 Call money 0.00~ 5.25 712,247 0.35~ 0.55 1,760,042 Bill of sale 0.80~ 1.60 19,070 0.00~ 1.10 10,706 Bonds sold under repurchase agreements: 0.95~ 5.40 9,089,736 0.00~ 5.15 11,065,584 Deferred origination costs (1,010 ) (1,551 ) W 34,863,156 W 41,594,064 |
Debt securities issued
Debt securities issued | 12 Months Ended |
Dec. 31, 2020 | |
Debt securities issued [Abstract] | |
Debt securities issued | 24. Debt securities issued Debt securities issued as of December 31, 2019 and 2020 are as follows: 2019 2020 Interest Amount Interest Amount Debt securities issued in Korean won: Debt securities issued 0.71~8.00 W 60,501,093 0.67~8.00 W 59,816,756 Subordinated debt securities issued 2.20~4.60 4,370,145 2.20~4.60 4,370,125 Gain on fair value hedges — (87,692 ) — (63,652 ) Discount on debt securities issued — (66,334 ) — (39,309 ) 64,717,212 64,083,920 Debt securities issued in foreign currencies: Debt securities issued 0.01~7.59 6,750,085 0.25~7.59 7,182,619 Subordinated debt securities issued 3.34~5.10 3,797,536 3.34~5.10 3,598,624 Loss on fair value hedges — 141,264 — 309,880 Discount on debt securities issued — (42,733 ) — (40,649 ) 10,646,152 11,050,474 W 75,363,364 W 75,134,394 |
Employee benefits
Employee benefits | 12 Months Ended |
Dec. 31, 2020 | |
Defined benefit plan assets and liabilities [Abstract] | |
Defined benefit assets | 25. Defined benefit assets (a) Defined benefit obligations and plan assets The Group has operated a defined benefit plan and calculates defined benefit obligations based on the employee’s pension compensation benefits and service period. Defined benefit obligations and plan assets as of December 31, 2019 and 2020 are as follows: 2019 2020 Present value of defined benefit obligations W 2,063,102 2,182,464 Fair value of plan assets (1,943,644 ) (2,138,324 ) Recognized liabilities for defined benefit obligations (*) W 119,458 44,140 (*) The net defined benefit obligation of W W W W W W (b) Changes in the present value of defined benefit obligation and plan assets for the years ended December 31, 2019 and 2020 are as follows: 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 loss 216 — 216 Business combination (Note 47) 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 2020 Defined benefit Plan assets Net defined Beginning balance W 2,063,102 (1,943,644 ) 119,458 Included in profit or loss: Current service cost 179,390 — 179,390 Past service cost 9,069 — 9,069 Interest expense (income) 57,674 (55,466 ) 2,208 Settlement expense (306 ) — (306 ) 245,827 (55,466 ) 190,361 Included in other comprehensive income: Remeasurement loss (gain): - Actuarial gains (losses) arising from : Demographic assumptions 18 — 18 Financial assumptions (44,424 ) — (44,424 ) Experience adjustment 2,957 — 2,957 - Return on plan assets excluding interest income — 20,027 20,027 (41,449 ) 20,027 (21,422 ) Other: Benefits paid by the plan (83,614 ) 77,567 (6,047 ) Contributions paid into the plan (268 ) (239,570 ) (239,838 ) Settlement gain or loss (2,695 ) 4,053 1,358 Business combination (Note 47) 2,139 (1,291 ) 848 Effect of movements in exchange rates (578 ) — (578 ) (85,016 ) (159,241 ) (244,257 ) Ending balance W 2,182,464 (2,138,324 ) 44,140 (*) 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, 2019 and 2020 are as follows: 2019 2020 Plan assets comprise: Equity securities W 256,353 74,631 Debt securities 28,094 23,713 Due from banks 1,577,274 1,900,963 Others 81,923 139,017 W 1,943,644 2,138,324 (d) Actuarial assumptions as of December 31, 2019 and 2020 are as follows: 2019 2020 Description Discount rate 2.71%~3.17% 2.68%~3.30% AA0 corporate bond yields Future salary increase rate 1.80%~4.00% + Upgrade rate 1.90%~4.00% + Upgrade rate Average for 5 years Weighted average maturity 8.2 years~ 16.2 years 7.6 years~ 15.4 years (e) Sensitivity analysis As of December 31, 2019 and 2020, 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. 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 ) 2020 Defined benefit obligation Increase Decrease Discount rate (1%p movement) W (207,093 ) 233,570 Future salary increase rate (1%p movement) 232,892 (210,305 ) (f) The Group’s estimated contribution is W |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2020 | |
Provisions [Abstract] | |
Provisions | 26. Provisions (a) Provisions as of December 31, 2019 and 2020 are as follows: 2019 2020 Asset retirement obligations W 64,922 65,659 Expected loss related to litigation 8,789 12,468 Unused credit commitments 263,752 305,719 Financial guarantee contracts issued 100,430 83,851 Others 119,131 337,039 W 557,024 804,736 (b) Changes in provision for unused credit commitments and financial guarantee contracts issued for the years ended December 31, 2019 and 2020 are as follows:. 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 2020 Unused credit commitments Financial guarantee contracts issued Total 12 months Life time Impaired financial asset 12 months Life time Impaired Beginning allowance W 132,028 119,839 11,885 68,467 5,569 811 338,599 Transfer to 12 months expected credit loss 63,818 (55,295 ) (8,523 ) 2,059 (2,059 ) — — Transfer to life time expected credit loss (9,883 ) 11,365 (1,482 ) (3,951 ) 3,951 — — Transfer to impaired financial asset (244 ) (875 ) 1,119 — — — — Provided (reversed) (20,377 ) 65,455 (1,564 ) 8,258 1,845 (822 ) 52,795 FX change (1,195 ) (352 ) — (1,335 ) (223 ) (49 ) (3,154 ) Others (*) — — — (18,948 ) (1,748 ) 70 (20,626 ) Ending balance W 164,147 140,137 1,435 54,550 7,335 10 367,614 (*) 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, 2019 and 2020 are as follows: 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 14,473 1,581 — 81,928 97,982 Ending balance W 64,922 8,789 25,583 119,131 218,425 2020 Asset Litigation Guarantee Other Total Beginning balance W 64,922 8,789 25,583 119,131 218,425 Provision(reversal) 898 4,317 (2,709 ) 261,983 264,489 Provision used (2,463 ) (638 ) — (46,654 ) (49,755 ) Foreign exchange translation (3 ) — (1,030 ) 570 (463 ) Others (*) 2,305 — 112 1,814 4,231 Business combination (Note 47) — — — 195 195 Ending balance W 65,659 12,468 21,956 337,039 437,122 (*) 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, 2019 and 2020 are as follows: 2019 2020 Outstanding guarantees and acceptances W 9,319,885 10,249,827 Contingent guarantees and acceptances 3,669,697 3,433,953 ABS and ABCP purchase commitments 2,116,354 1,604,958 Endorsed bill 11,287 1,650 W 15,117,223 15,290,388 Allowance for loss on guarantees and acceptances W 100,430 83,851 Ratio %0.66 0.55 |
Liability under insurance contr
Liability under insurance contracts | 12 Months Ended |
Dec. 31, 2020 | |
Liability under insurance contracts [Abstract] | |
Liability under insurance contracts | 27. Liability under insurance contracts (a) Insurance liabilities as of December 31, 2019 and 2020 are as follows: 2019 2020 Policy reserve W 52,086,132 53,391,401 Policyholder’s equity adjustment 77,285 68,829 W 52,163,417 53,460,230 (b) Policy reserve as of December 31, 2019 and 2020 are as follows: 2019 2020 Interest rate linked W 30,058,020 29,977,303 Fixed interest rate 22,028,112 23,414,098 W 52,086,132 53,391,401 (c) The details of policy reserves as of December 31, 2019 and 2020 are as follows: 2019 Individual insurance Group insurance Pure 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 2020 Individual insurance Group insurance Pure endowment Death Endowment Subtotal Pure Savings Subtotal Total Premium reserve W 14,597,735 26,634,537 9,981,880 51,214,152 18,430 62 18,492 51,232,644 Guarantee reserve 28,168 267,154 762 296,084 — — — 296,084 Unearned premium reserve 1 1,640 — 1,641 13 — 13 1,654 Reserve for outstanding claims 240,324 1,111,052 363,688 1,715,064 15,384 — 15,384 1,730,448 Interest rate difference guarantee reserve 1,937 141 9 2,087 — — — 2,087 Mortality gains reserve 7,865 37,553 124 45,542 1 — 1 45,543 Interest gains reserve 23,651 256 14 23,921 — — — 23,921 Expense gains reserve 6,606 8,336 — 14,942 — — — 14,942 Long term duration dividend reserve 28,737 13,775 12 42,524 — — — 42,524 Reserve for policyholder’s profit dividend 1,080 — — 1,080 — — — 1,080 Reserve for losses on dividend insurance contract 474 — — 474 — — — 474 W 14,936,578 28,074,444 10,346,489 53,357,511 33,828 62 33,890 53,391,401 (d) Changes in policy reserves Changes in policy reserves for the year ended December 31, 2020 are as follows: 2020 Insurance fixed-interest Insurance variable-interest Total Beginning balance W 22,028,112 30,058,020 52,086,132 Reserve (*) 1,385,986 (80,717 ) 1,305,269 Ending balance W 23,414,098 29,977,303 53,391,401 (*) This is the amount of provision for insurance contract liabilities less changes in reinsurance assets. (e) Changes in policy reserves by insurance risk classification Changes in insurance contract liabilities by insurance risk classification for the year ended December 31, 2020 are as follows: 2020 Individual insurance Group insurance Pure Death Endowment Sub-total Pure Savings Sub-total Total Beginning balance W 14,986,916 26,382,609 10,677,484 52,047,009 39,063 60 39,123 52,086,132 Reserve (reversal) (*) (50,338 ) 1,691,835 (330,995 ) 1,310,502 (5,235 ) 2 (5,233 ) 1,305,269 Ending balance W 14,936,578 28,074,444 10,346,489 53,357,511 33,828 62 33,890 53,391,401 (*) This is the amount of provision for insurance contract liabilities less changes in reinsurance assets. (f) Reinsurance credit risk as of December 31, 2019 and 2020 are as follows: 2019 2020 Reinsurance Reinsurance Reinsurance Reinsurance AAA W 11,477 18,192 10,611 47,690 AA- 34,498 46,302 29,294 23,348 A- 2,287 4,113 2,375 4,018 W 48,262 68,607 42,280 75,056 (g) Income or expenses on insurance for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Insurance income: Premium income W 4,348,745 7,386,854 7,037,308 Reinsurance income 15,222 146,564 152,892 Separate account income 34,771 36,007 57,553 4,398,738 7,569,425 7,247,753 Insurance expenses: Claims paid 2,549,147 5,436,069 5,564,875 Reinsurance premium expenses 18,482 165,979 167,215 Provision for policy reserves (*) 1,694,716 1,724,816 1,311,252 Separate account expenses 34,770 36,007 57,553 Discount charge 669 657 1,087 Acquisition costs 454,479 805,508 802,942 Collection expenses 16,046 19,049 18,835 Deferred acquisition costs (283,665 ) (495,534 ) (486,972 ) Amortization of deferred acquisition costs 385,793 373,800 414,898 4,870,437 8,066,351 7,851,685 Net loss on insurance W (471,699 ) (496,926 ) (603,932 ) (*) Interest expenses on savings insurance contracts are included. (Accumulated W W W (h) Maturity of premium reserve as of December 31, 2019 and 2020 are as follows: 2019 Less than or 1 ~ 3 3 ~ 7 7 ~ 10 10 ~ 20 More than Total Interest rate linked W 845,304 2,079,125 2,118,652 941,413 2,236,313 20,732,909 28,953,716 Fixed interest rate 213,892 329,647 1,032,366 572,153 2,058,859 16,953,339 21,160,256 Ending balance W 1,059,196 2,408,772 3,151,018 1,513,566 4,295,172 37,686,248 50,113,972 2020 Less than or 1 ~ 3 3 ~ 7 7 ~ 10 10 ~ 20 More than Total Interest rate linked W 929,268 1,944,710 1,819,554 820,964 2,056,906 19,729,536 27,300,938 Fixed interest rate 164,890 418,574 983,635 594,667 2,090,669 19,679,271 23,931,706 Ending balance W 1,094,158 2,363,284 2,803,189 1,415,631 4,147,575 39,408,807 51,232,644 (i) Liability adequacy test, LAT – Shinhan Life Insurance Co., Ltd. i) Scope Liability adequacy tests are performed on the premium reserve, unearned premium reserve and guarantee reserve for the contracts held at December 31, 2019 and 2020. 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, interest rate(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 main assumptions and basis for calculation The main assumptions and basis for calculation used to calculate the current estimation of future cash flows in the liability adequacy test as of December 31, 2019 and 2020 are as follows: The criteria for liability adequacy test of insurance contracts have been changed for the year ended December 31, 2020. Therefore, the Group applied the change in accounting policies as it has judged that the changed in the criteria for liability adequacy test of insurance contracts would provide more reliable and relevant information about the current estimates of future cash flows. This change in accounting policy has no effect on the consolidated financial statements, but comparative notes have been adjusted. Assumptions January 1, 2019 December 31, December 31, 2020 Measurement basis Discount rate 2.10% ~ 7.45% 1.04% ~ 5.79% 1.30% ~ 12.01% 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% 10.38% ~ 585.90% 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% Acquisition cost - The first time : 90.00% ~ 1,022.75% - From the second time : 0.00% ~ 193.50% Maintenance expense (each case): 1,559 won ~ 4,675 won Collection expenses (on gross premium): 0.06% ~ 1.28% 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% 0.53% ~ 29.83% Surrender ratio by elapsed period, classes of sales channel, product of last 5 years iv) The result of liability adequacy test as of January 1, 2019, December 31, 2019 and 2020 are as follows: January 1, 2019 Provisions for test LAT base Premium surplus Participating – Fixed interest W 589,618 1,382,718 (793,100 ) Non- 6,009,771 2,850,853 3,158,918 Participating – Variable interest 859,858 962,368 (102,510 ) Non- 14,008,270 12,532,933 1,475,337 Variable type 143,230 (122,055 ) 265,285 W 21,610,747 17,606,817 4,003,930 December 31, 2019 Provisions for test LAT base Premium surplus Participating – Fixed interest W 595,317 1,307,717 (712,400 ) Non- 6,608,221 3,168,333 3,439,888 Participating – Variable interest 900,378 1,039,624 (139,246 ) Non- 14,481,697 13,045,229 1,436,468 Variable type 155,751 33,678 122,073 W 22,741,364 18,594,581 4,146,783 December 31, 2020 Provisions for test LAT base Premium surplus Participating – Fixed interest W 598,793 1,301,878 (703,085 ) Non- 7,230,482 3,543,525 3,686,957 Participating – Variable interest 915,382 1,013,181 (97,799 ) Non- 14,456,394 12,882,865 1,573,529 Variable type 165,259 36,127 129,132 W 23,366,310 18,777,576 4,588,734 (j) Liability adequacy test, LAT – Orange Life Insurance Co., Ltd. i) Scope Liability adequacy tests are performed on the premium reserve, unearned premium reserve and guarantee reserve for the contracts held at December 31, 2019 and 2020. 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 main assumptions and basis for calculation The main assumptions and basis for calculation used to calculate the current estimation of future cash flows in the liability adequacy test as of December 31, 2019 and 2020 are as follows: The criteria for liability adequacy test of insurance contracts have been changed for the year ended December 31, 2020. Therefore, the Group applied the change in accounting policies as it has judged that the changed in the criteria for liability adequacy test of insurance contracts would provide more reliable and relevant information about the current estimates of future cash flows. This change in accounting policy has no effect on the consolidated financial statements, but comparative notes have been adjusted. Assumptions January 1, 2019 December 31, 2019 December 31, 2020 Measurement basis Discount rate 1.95% ~ 8.57% 1.26% ~ 10.60% 0.79% ~ 10.54% The scenario adding liquidity premium to risk-free rate, which is suggested from Financial Supervisory Service Mortality rate 20.00% ~ 210.00% 20.00% ~ 255.00% 15.00% ~ 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): 9,000 won ~ 959,000 won - Proportional to annualized premium: 0.64% ~ 7.05% Maintenance expense (each case): 2,000 won ~ 34,500 won - Proportional to premium income: 0.48% ~ 0.60% - Proportional to surrender value: 0.12% 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% Acquisition cost (each case): 0 won ~ 1,547,000 won - Proportional to annualized premium: 0.00% ~ 15.99% Maintenance expense (each case): 0 won ~ 36,000 won - Proportional to premium income: 0.12% ~ 0.85% - Proportional to surrender value: 0.12% Based on the recent one-year Surrender ratio 0.00% ~ 50.00% 0.00% ~ 50.00% 0.00% ~ 61.00% 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 January 1, 2019, December 31, 2019 and 2020 are as follows: January 1, 2019 Provisions for test LAT base Premium surplus Participating: Fixed interest W 688,330 644,225 44,105 Variable interest 1,097,211 1,472,060 (374,849 ) 1,785,541 2,116,285 (330,744 ) Non- Fixed interest 8,603,714 5,070,060 3,533,654 Variable interest 9,380,809 8,806,781 574,028 Performance allocation type (98,279 ) (1,744,683 ) 1,646,404 17,886,244 12,132,158 5,754,086 W 19,671,785 14,248,443 5,423,342 December 31, 2019 Provisions for test LAT base Premium surplus Participating: Fixed interest W 716,607 697,291 19,316 Variable interest 1,134,245 1,620,247 (486,002 ) 1,850,852 2,317,538 (466,686 ) Non- Fixed interest 9,296,542 5,150,200 4,146,342 Variable interest 9,236,730 8,924,855 311,875 Performance allocation type (54,457 ) (1,692,928 ) 1,638,471 18,478,815 12,382,127 6,096,688 W 20,329,667 14,699,665 5,630,002 December 31, 2020 Provisions for test LAT base Premium surplus Participating: Fixed interest W 745,614 694,536 51,078 Variable interest 1,174,807 1,649,073 (474,266 ) 1,920,421 2,343,609 (423,188 ) Non- Fixed interest 10,061,004 4,810,110 5,250,894 Variable interest 9,190,507 8,743,848 446,659 Performance allocation type (15,032 ) (1,589,500 ) 1,574,468 19,236,479 11,964,458 7,272,021 W 21,156,900 14,308,067 6,848,833 |
Other liabilities
Other liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Other liabilities [Abstract] | |
Other liabilities | 28. Other liabilities Other liabilities as of December 31, 2019 and 2020 are as follows: 2019 2020 Lease liabilities (*) W 1,104,259 594,161 Accounts payable 11,894,764 14,568,962 Accrued expenses 3,502,538 3,054,247 Dividend payable 31,599 32,508 Advance received 173,850 164,885 Unearned income 294,710 317,283 Withholding value-added tax and other taxes 720,053 692,719 Securities deposit received 1,903,119 2,198,722 Foreign exchange settlement pending 243,532 259,138 Domestic exchange settlement pending 1,452,955 5,745,338 Payable from trust account 5,350,285 5,086,459 Due to agencies 744,660 790,486 Deposits for subscription 60,500 148,506 Separate account liabilities 8,700,695 10,120,258 Sundry liabilities 1,968,823 1,617,449 Others 151,056 185,027 Present value discount (59,840 ) (49,935 ) W 45,526,213 (*) As of December 31, 2020, the Group accounts the lease liabilities as other liabilities. For the year ended December 31, 2020, 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, 2020 | |
Equity [Abstract] | |
Equity | 29. Equity (a) Equity as of December 31, 2019 and 2020 are as follows: 2019 2020 Capital stock: Common stock (*1) W 2,370,998 2,608,176 Preferred stock 361,465 361,465 2,732,463 2,969,641 Hybrid bond 1,731,235 2,179,934 Capital surplus: Share premium 10,155,150 11,352,924 Others 410,203 882,015 10,565,353 12,234,939 Capital adjustments (1,116,770 ) (687,935 ) Accumulated other comprehensive income, net of tax: Gain on financial assets at fair value through other comprehensive income 306,470 226,811 Gain(Loss) on financial assets at fair value through profit or loss (Overlay approach) 71,621 161,919 Equity in other comprehensive income of associates 8,177 4,849 Foreign currency translation adjustments for foreign operations (217,465 ) (377,061 ) Net loss from cash flow hedges (33,711 ) (48,171 ) Other comprehensive income of separate account 14,539 18,423 Actuarial losses (401,532 ) (385,780 ) Changes in own credit risk on financial liabilities designated under fair value option (8,255 ) (5,171 ) (260,156 ) (404,181 ) Retained earnings (*2)(*3)(*4) 25,525,821 27,777,169 Non-controlling 2,752,435 2,287,291 W 41,930,381 46,356,858 (*1) For the year ended December 31, 2020, it increased due to common stock and third-party allocation paid-in W (*2) As of December 31, 2019 and 2020, profits reserved by the Group as of Article 53 of the Financial Holding Companies Act amounted to W W (*3) As of December 31, 2019 and 2020, the regulatory reserves for loan losses the Group appropriated in retained earnings are W W (*4) As of December 31, 2020, profit dividends within retained earnings of subsidiaries of the Group subject to a restricted dividend in accordance with laws, etc. are amounted to W (*5) The non-controlling W (*6) As of December 31, 2019 and 2020, 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 (b) Capital stock Capital stock of the Group as of December 31, 2019 and 2020 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 as of December 31, 2019 474,199,587 Number of issued common stocks as of December 31, 2020 516,599,554 Number of issued preferred stocks as of December 31, 2019 and 2020 17,482,000 The details of changes in the number of common shares outstanding as of December 31, 2020 are as follows: 2020 Beginning balance 460,317,525 Increase 60,626,827 Decrease (5,049,594 ) Ending balance 515,894,758 (c) The details of preferred stock are as follows: The number Contracted Conversion request Convertible preferred stock 17,482,000 4.0% per year based on issue price (non-cumulative 2020.05.01~2023.04.30 (*) Preferred stocks that have not been converted for 4 years from the issuance date and until the expiration date of the period of existence are automatically converted to common stocks at the expiration date of the period of existence. (d) Hybrid bonds Hybrid bonds classified as other equity instruments as of December 31, 2019 and 2020 are as follows: Issue date Currency Maturity date Interest rate (%) 2019 2020 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 ” — 3.27 199,476 199,476 September 17, 2020 ” — 3.12 — 448,699 August 13, 2018 USD — 5.88 559,526 559,526 W 1,731,235 2,179,934 (*) For the year ended December 31, 2020, the deduction for capital related to hybrid bonds issued is W The hybrid bonds above can be repaid early after 5 or 10 years from the date of issuance, and the controlling company has an unconditional right to extend the maturity under the same condition. In addition, if no dividend is to be paid for common stocks, the agreed interest is also not paid. (e) Capital adjustments Changes in capital adjustments for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Beginning balance W (552,895 ) (1,116,770 ) Acquisition of treasury stocks (444,077 ) (150,467 ) Disposal and Retirement of treasury stocks — 601,809 The Acquisition commitment amount for subsidiaries’ remaining shares (125,830 ) (22,019 ) Other transactions with owners 6,032 (488 ) Ending balance W (1,116,770 ) (687,935 ) (f) Accumulated other comprehensive income Changes in accumulated other comprehensive income for the years ended December 31, 2019 and 2020 are as follows: 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 changes in foreign exchange rate — — — 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 ) 2020 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 233,328 71,621 8,193 (217,465 ) (33,711 ) 14,539 (401,532 ) (16 ) 73,142 (8,255 ) (260,156 ) Change due to fair value (3,601 ) 125,298 (1,080 ) — — 5,358 — (15 ) (19,133 ) (9,689 ) 97,138 Reclassification: Change due to impairment or disposal (105,274 ) — — 5,858 — — — — — 13,942 (85,474 ) Effect of hedge accounting — — — — 144,750 — — — — — 144,750 Hedging (4,395 ) — — 45,083 (164,708 ) — — — — — (124,020 ) Effects from changes in foreign exchange rate — 74 (355 ) (219,306 ) — — — — 721 — (218,866 ) Remeasurements of the defined benefit plans — — — — — — 21,422 — — — 21,422 Deferred income taxes 26,486 (35,074 ) (1,883 ) 7,000 5,498 (1,474 ) (5,610 ) 5 (2,573 ) (1,169 ) (8,794 ) Transfer to other account — — — — — — — — 27,825 — 27,825 Non-controlling 285 — — 1,769 — — (60 ) — — — 1,994 Ending balance W 146,829 161,919 4,875 (377,061 ) (48,171 ) 18,423 (385,780 ) (26 ) 79,982 (5,171 ) (404,181 ) (g) Appropriation of retained earnings The appropriation of retained earnings for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Date of appropriation: March 26, 2020 March 25, 2021 Unappropriated retained earnings: Balance at beginning of year W 5,184,339 5,251,413 Retirement of treasury stock — (150,325 ) Dividend to hybrid bonds (61,993 ) (85,327 ) Net income 1,129,173 1,274,443 6,251,519 6,290,204 Appropriation of retained earnings: Legal reserve (112,917 ) (127,444 ) Dividends Dividends on common stocks paid (851,587 ) (773,839 ) Dividends on preferred stocks paid (32,342 ) (29,999 ) Regulatory reserve for loan losses (3,260 ) (3,564 ) (1,000,106 ) (934,846 ) Unappropriated retained earnings to be carried over to subsequent year W 5,251,413 5,355,358 (*) These statements of appropriation of retained earnings are based on the separate financial statements of Shinhan Finance Group. (h) 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 2019 2020 Beginning balance W 2,844,690 3,161,170 Business combination 25,608 — Planned regulatory reversal of loan losses 290,872 168,729 Ending balance W 3,161,170 3,329,899 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, 2019 and 2020 are as follows: 2019 2020 Profit attributable to equity holders of Shinhan Financial Group W 3,403,497 3,414,595 Provision for regulatory reserve for loan losses (*1) (292,728 ) (177,620 ) Profit attributable to equity holders of Shinhan Financial Group adjusted for regulatory reserve W 3,110,769 3,236,975 Basic and diluted earnings per share adjusted for regulatory reserve in won (*2) 6,387 6,299 (*1) The increase in reserve for credit losses, W (*2) Dividends for hybrid bonds are deducted. (i) Treasury stock The acquisitions of treasury stock for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 (*) The number of Carrying The number of Carrying Beginning balance 3,648,659 W 155,923 13,882,062 W 600,000 Acquisition 10,233,403 444,077 5,049,594 150,467 Disposal — — 13,191,202 (572,252 ) Retirement — — 5,035,658 (150,000 ) Ending balance 13,882,062 W 600,000 704,796 W 28,215 (*) Changes in equity shares due to the exchange of shares with Orange Life Insurance Co., Ltd. and Neoplux Co, Ltd. are included in the acquisition and disposal for treasury stock. Shares of Shinhan Financial Group Co., Ltd. is owned by Orange Life Insurance Co., Ltd. and Neoplux Co, Ltd. are included in its own shares. |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2020 | |
Dividends [Abstract] | |
Dividends | 30. Dividends (a) Details of dividends recognized as distributions to stockholders for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 (*1) Common Stock: Total number of shares issued and outstanding 474,199,587 516,599,554 Par value per share in won 5,000 5,000 Dividend per share in won 1,850 1,500 Dividends (*2) W 851,587 773,839 Dividend rate per share (%) 37.0 30.0 Preferred Stock: Total number of shares issued and outstanding 17,482,000 17,482,000 Par value per share in won 5,000 5,000 Dividend per share in won 1,850 1,716 Dividends W 32,342 29,999 Dividend rate per share (%) 37.0 34.3 (*1) Dividends were decided on March 25, 2021. The amount of dividends was not recognized as a distribution to the owner during the period. (*2) Dividends on own shares held by the Group are excluded. (b) Dividends for hybrid bond is calculated as follows for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Amount of hybrid bond W 1,738,150 2,188,150 Interest rate (%) 3.27 ~ 5.88 3.12 ~ 5.88 Dividends W 61,993 85,327 |
Net interest income
Net interest income | 12 Months Ended |
Dec. 31, 2020 | |
Net interest income [Abstract] | |
Net interest income | 31. Net interest income Net interest income for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Interest income: Cash and deposits at amortized cost W 155,075 210,415 128,023 Deposits at FVTPL 33,845 31,506 13,888 Securities at FVTPL 623,651 740,378 742,958 Securities at FVOCI 759,301 1,077,995 957,817 Securities at amortized cost 730,382 1,061,262 1,076,849 Loans at amortized cost 11,158,558 12,435,302 11,697,775 Loans at FVTPL 23,110 56,961 73,991 Others 88,534 93,543 82,695 13,572,456 15,707,362 14,773,996 Interest expense: Deposits (3,091,659 ) (3,644,632 ) (2,842,625 ) Borrowings (468,068 ) (551,416 ) (426,607 ) Debt securities issued (1,336,840 ) (1,666,257 ) (1,554,544 ) Others (95,800 ) (107,093 ) (67,520 ) (4,992,367 ) (5,969,398 ) (4,891,296 ) Net interest income W 8,580,089 9,737,964 9,882,700 |
Net fees and commission income
Net fees and commission income | 12 Months Ended |
Dec. 31, 2020 | |
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, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Fees and commission income: Credit placement fees W 62,766 66,666 94,836 Commission received as electronic charge receipt 146,309 151,584 143,449 Brokerage fees 412,165 353,382 546,236 Commission received as agency 120,508 140,484 145,162 Investment banking fees 91,273 151,031 161,439 Commission received in foreign exchange activities 214,395 244,325 239,467 Asset management fees 235,275 307,167 255,043 Credit card fees 1,360,322 1,234,239 1,170,078 Operating lease fees (*) 82,141 142,025 245,173 Others 570,102 766,110 813,591 3,295,256 3,557,013 3,814,474 Fees and commission expense: Credit-related fee (36,817 ) (42,023 ) (46,456 ) Credit card fees (944,533 ) (915,521 ) (849,256 ) Others (374,909 ) (458,950 ) (535,829 ) (1,356,259 ) (1,416,494 ) (1,431,541 ) Net fees and commission income W 1,938,997 2,140,519 2,382,933 (*) Among operating lease fees recognized during the current and prior periods, there is no variable lease fee income which does not vary by index or rate. |
Dividend income
Dividend income | 12 Months Ended |
Dec. 31, 2020 | |
Dividend income [Abstract] | |
Dividend income | 33. Dividend income Dividend income for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Securities at FVTPL W 70,955 65,572 76,453 Securities at FVOCI 16,871 16,586 21,503 W 87,826 82,158 97,956 |
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, 2020 | |
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 years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Net gain (loss) on deposits measured at FVTPL Gain (loss) on valuation W (61,848 ) 87,374 1,267 Gain on sale — 13,400 28,461 (61,848 ) 100,774 29,728 Net gain (loss) on loans measured at FVTPL Gain (loss) on valuation 916 (248,032 ) (204,702 ) Gain on sale 9,133 10,395 17,516 10,049 (237,637 ) (187,186 ) Net gain (loss) on securities measured at FVTPL Debt securities Gain on valuation 111,029 137,181 41,208 Gain on sale 78,718 125,431 72,338 Other gains 223,731 297,024 331,837 413,478 559,636 445,383 Equity securities Gain on valuation 286,801 141,246 134,922 Gain (loss) on sale (275,356 ) 183,969 283,265 11,445 325,215 418,187 Other Gain on valuation 19,086 28,803 22,690 444,009 913,654 886,260 2018 2019 2020 Net gain (loss) on financial liabilities measured at FVTPL Debt securities Loss on valuation (115,667 ) (16,810 ) (48,261 ) Gain (loss) on disposal 268,932 (35,710 ) 82,724 153,265 (52,520 ) 34,463 Other Loss on valuation (14,892 ) (91,025 ) (83,316 ) Gain on disposal 1,394 4,169 8,313 (13,498 ) (86,856 ) (75,003 ) 139,767 (139,376 ) (40,540 ) Derivatives: Gain (loss) on valuation (291,879 ) 388,880 245,681 Gain on transaction 179,928 359,187 (661,113 ) (111,951 ) 748,067 (415,432 ) W 420,026 1,385,482 272,830 |
Net gain (loss) on financial _2
Net gain (loss) on financial instruments designated at fair value through profit or loss | 12 Months Ended |
Dec. 31, 2020 | |
Net gain (loss) on financial instruments designated at fair value through profit or loss [Abstract] | |
Net gain (loss) on financial instruments designated at fair value through profit or loss | 35. Net gain (loss) on financial instruments designated at fair value through profit or loss Net gain (loss) on financial instruments designated at fair value through profit or loss for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 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 ) 241,066 Loss on sale and redemption (404,573 ) (812,175 ) (42,827 ) W (26,643) (846,046 ) 198,239 |
Provision for allowance for cre
Provision for allowance for credit loss | 12 Months Ended |
Dec. 31, 2020 | |
Provision for allowance for credit loss [Abstract] | |
Provision for allowance for credit loss | 36. Provision for allowance for credit loss Provision for allowance for credit loss on financial assets for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Loans at amortized cost W (910,898 ) (1,290,695 ) Other financial assets at amortized cost (33,945 ) (33,785 ) Securities at fair value through other comprehensive income (5,787 ) (3,829 ) Unused credit line and financial guarantee (29,519 ) (52,795 ) Securities at amortized cost (543 ) (1,075 ) W (980,692 ) (1,382,179 ) |
General and administrative expe
General and administrative expenses | 12 Months Ended |
Dec. 31, 2020 | |
General and Administrative Expenses [Abstract] | |
General and administrative expenses | 37. General and administrative expenses General and administrative expenses for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Employee benefits: Salaries W 2,736,604 2,918,065 3,034,543 Severance benefits: Defined contribution 23,745 35,972 36,660 Defined benefit 133,749 168,732 184,753 Termination benefits 115,275 122,732 94,723 3,009,373 3,245,501 3,350,679 Entertainment 30,442 36,931 34,963 Depreciation 171,771 479,657 475,506 Amortization 73,575 99,208 129,976 Taxes and utility bills 176,133 197,691 197,996 Advertising 287,688 265,739 204,308 Research 13,928 17,742 20,271 Others 978,665 792,205 798,774 W 4,741,575 5,134,674 5,212,473 |
Share-based payments
Share-based payments | 12 Months Ended |
Dec. 31, 2020 | |
Share-based payments [Abstract] | |
Share-based payments | 38. Share-based payments (a) Stock options granted as of December 31, 2020 are as follows: 6th grant (*) 7th grant (*) Type Cash payment Cash payment Grant date March 20, 2007 March 19, 2008 Exercise price in Korean won W W Number of shares granted 1,301,050 808,700 Options’ expiry dates August 19, 2020 May 17, 2021 / September 17, 2021 Changes in number of shares granted: Beginning balance 58,764 36,162 Exercised and cancelled 58,764 — Ending balance — 36,162 W (Expiration of exercise period : Fair value per share in Korean won — W (Expiration of exercise period : (*) All of stock options have vested as of December 31, 2020, and the weighted average exercise price for 36,162 stock options outstanding as of December 31, 2020 is W (b) Performance shares granted as of December 31, 2020 are as follows: Expired Not expired Type Cash-settled share-based payment Performance conditions (*1) Relative stock price linked (20.0%), management index (80.0%) Exercising period 4 years from the commencement date of the year to which the grant date belongs (5 years in the case of deferred payment) Estimated number of shares vested at December 31, 2020 468,013 1,601,729 Fair value per share in Korean won (*2) W W W W (*1) Starting with the shares provided from 2020, Shinhan Financial Group and Shinhan Bank will apply relative stock price linked (20.0%), management index (60.0%), and prudential index (20.0%). (*2) Based on performance-based stock compensation, the reference stock price (the arithmetic average of the weighted average share price of transaction volume for the past two month, the previous one month, and the past one week) of four years (In the case of deferred quantity for after five years) after the commencement of the grant year is paid in cash, and the fair value of the reference stock to be paid in the future is assessed as the closing price of the settlement. (c) Share-based compensation costs for the years ended December 31, 2018, 2019 and 2020 are as follows: 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 2020 Employees of The controlling The subsidiaries Total Stock options granted: 6th W (1 ) (4 ) (5 ) 7th (18 ) (26 ) (44 ) Performance share (257 ) (3,902 ) (4,159 ) W (276 ) (3,932 ) (4,208 ) (d) Accrued expenses and the intrinsic value as of December 31, 2019 and 2020 are as follows: 2019 Accrued expenses (*) Employees of 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 2020 Accrued expenses (*) Employees of The controlling The subsidiaries Total Stock options granted: 7th W 1 1 2 Performance share 7,201 60,241 67,442 W 7,202 60,242 67,444 (*) The intrinsic value of share-based payments is W W |
Net other operating expense
Net other operating expense | 12 Months Ended |
Dec. 31, 2020 | |
Net other operating expense [Abstract] | |
Net other operating expense | 39. Net other operating expense Other operating income and other operating expense for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Other operating income Gain on disposal of assets: Loans at amortized cost W 40,624 18,298 21,348 Others: Gain on hedged items 418,390 564,438 536,768 Reversal of allowance for guarantees and acceptances 2,834 19,329 2,709 Gain on other trust accounts — 27 — Reversal of other allowance 5,033 11,194 850 Others 131,345 97,777 164,999 557,602 692,765 705,326 598,226 711,063 726,674 Other operating expense Loss on disposal of assets: Loans at amortized cost (14,271 ) (27,291 ) (18,675 ) Others: Loss on hedged items (406,872 ) (596,533 ) (605,808 ) Fund contribution (283,331 ) (311,336 ) (367,993 ) Provision for other debt allowances (13,036 ) (6,939 ) (16,862 ) Depreciation of operating lease assets (56,570 ) (98,288 ) (163,006 ) Others (653,501 ) (857,918 ) (924,796 ) (1,413,310 ) (1,871,014 ) (2,078,465 ) (1,427,581 ) (1,898,305 ) (2,097,140 ) Net other operating expenses W (829,355 ) (1,187,242 ) (1,370,466 ) |
Net other non-operating income
Net other non-operating income | 12 Months Ended |
Dec. 31, 2020 | |
Net other non-operating income [Abstract] | |
Net other non-operating income | 40. Net other non-operating Other non-operating non-operating 2018 2019 2020 Other non-operating Gain on disposal of assets: Property and equipment (*) W 12,611 1,452 64,427 Investment property (*) 4,783 12,640 20,701 Assets held for sale — — 1,147 Lease assets 1,153 1,681 2,712 Right-of-use — 1,112 3,415 Others — 407 24 18,547 17,292 92,426 Gain on disposal of Investments in associates 17,427 3,461 11,325 Others: Rental income on investment property 32,488 43,777 23,890 Reversal of impairment losses on intangible asset 62 438 119 Gain from assets contributed 77 86 4 Others 49,276 82,879 66,268 81,903 127,180 90,281 117,877 147,933 194,032 Other non-operating Loss on disposal of assets: Property and equipment (*) (3,082 ) (870 ) (5,884 ) Investment property (2,958 ) — — Lease assets (3,964 ) (3,221 ) (5,538 ) Right-of-use — (306 ) (1,195 ) Others (3 ) — (64 ) (10,007 ) (4,397 ) (12,681 ) Loss on disposal of investments in associates (11,546 ) (3,974 ) (5,754 ) Impairment loss on investments in associates (5,849 ) — (9,407 ) (17,395 ) (3,974 ) (15,161 ) Others: Donations (88,650 ) (94,937 ) (86,608 ) Depreciation of investment properties (16,917 ) (17,565 ) (20,165 ) Impairment loss on intangible assets (771 ) (152,081 ) (41,429 ) Write-off (1,537 ) (9,221 ) (474 ) Expenses on collection of special bonds (6,048 ) (7,322 ) (7,978 ) Others (26,844 ) (46,465 ) (344,934 ) (140,767 ) (327,591 ) (501,588 ) (168,169 ) (335,962 ) (529,430 ) Net other non-operating W (50,292 ) (188,029 ) (335,398 ) (*) Gain and loss on disposal of sale-and-leaseback sale-and-leaseback W |
Income tax expense
Income tax expense | 12 Months Ended |
Dec. 31, 2020 | |
Income tax expense [Abstract] | |
Income tax expense | 41. Income tax expense (a) Income tax expense for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Current income tax expense W 896,755 1,115,724 1,131,254 Temporary differences 383,190 296,244 131,862 Income tax recognized in other comprehensive income (11,600 ) (142,844 ) (7,321 ) Income tax expenses W 1,268,345 1,269,124 1,255,795 (b) Income tax expense calculated by multiplying net income before tax with the tax rate for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Profit before income taxes W 4,466,610 4,911,508 4,753,871 Income taxes at statutory tax rates 1,222,840 1,345,187 1,301,836 Adjustments: Non-taxable (9,561 ) 8,500 (4,932 ) Non-deductible 12,854 18,461 14,529 Tax credit (23,317 ) (2,289 ) (88 ) Other 65,529 (100,735 ) (55,550 ) Income tax expense W 1,268,345 1,269,124 1,255,795 Effective tax rate % 28.40 25.84 26.42 (c) Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences for the years ended December 31, 2019 and 2020 are as follows: 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 — — — — — Others (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 are increased by W 2020 Beginning Business Profit or Other Ending Unearned income W (331,679 ) — 3,401 — (328,278 ) Account receivable (26,324 ) — (2,754 ) — (29,078 ) Financial assets measured at fair value (101,577 ) 1,750 (28,950 ) (13,308 ) (142,085 ) Investment in associates and etc 18,758 — 144,390 (1,878 ) 161,270 Valuation and depreciation of property and equipment (151,046 ) 7 253 — (150,786 ) Derivative asset (liability) 21,005 — (80,357 ) 3,762 (55,590 ) Deposits 30,641 — (3,009 ) — 27,632 Accrued expenses 145,494 441 (5,071 ) — 140,864 Defined benefit obligation 506,132 209 39,072 (6,759 ) 538,654 Plan assets (507,140 ) — (47,934 ) 1,167 (553,907 ) Other provisions 213,055 — 99,223 — 312,278 Allowance for acceptances and guarantees 80,014 — 8,036 — 88,050 Allowance related to asset revaluation (49,713 ) — — — (49,713 ) Allowance for expensing depreciation (401 ) — 64 — (337 ) Deemed dividend — — — — — Accrued contributions 36,818 — (20,200 ) — 16,618 Financial instruments designated at fair value through profit of loss 42,817 — (71,043 ) — (28,226 ) Allowances 38,068 — 185,583 — 223,651 Fictitious dividend 1,341 — 14,950 — 16,291 Liability under insurance contracts 24,147 — (22,408 ) — 1,739 Deficit carried over — — 311 — 311 Others (543,770 ) 451 (304,112 ) 9,695 (837,736 ) (553,360 ) 2,858 (90,555 ) (7,321 ) (648,378 ) Expired unused tax losses: Extinguishment of deposit and insurance liabilities 320,011 — (35,944 ) — 284,067 W (233,349 ) 2,858 (126,499 ) (7,321 ) (364,311 ) (*) Deferred tax assets from overseas subsidiaries are increased by W (d) Deferred tax assets and liabilities that are directly charged or credited to equity for the years ended December 31, 2019 and 2020 are as follows: 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 ) W (894,711 ) 141,490 639,864 (146,799 ) (254,847 ) (5,309 ) January 1, 2020 Changes December 31, 2020 OCI Tax effect OCI Tax effect OCI Tax effect Gain (loss) on valuation of financial assets measured at FVOCI W 439,370 (132,901 ) (103,570 ) 23,912 335,800 (108,989 ) Gain (loss) on financial liabilities measured at FVTPL attributable to changes in credit risk (11,386 ) 3,131 4,253 (1,170 ) (7,133 ) 1,961 Foreign currency translation adjustments for foreign operations (208,348 ) (9,117 ) (166,596 ) 7,000 (374,944 ) (2,117 ) Gain (loss) on cash flow hedge (47,977 ) 14,266 (19,958 ) 5,498 (67,935 ) 19,764 Equity in other comprehensive income of associates 8,300 (122 ) (1,450 ) (1,878 ) 6,850 (2,000 ) The accumulated other comprehensive income in separate account (*) 20,054 (5,515 ) 5,358 (1,473 ) 25,412 (6,988 ) Remeasurements of the defined benefit liability (553,538 ) 152,006 21,362 (5,610 ) (532,176 ) 146,396 Gain (loss) on valuation of financial asset measured at FVTPL (Overlay approach) 98,678 (27,057 ) 125,371 (35,073 ) 224,049 (62,130 ) W (254,847 ) (5,309 ) (135,230 ) (8,794 ) (390,077 ) (14,103 ) (*) Deferred tax effects, which are originated from the accumulated other comprehensive income in separate account, are included in the other liabilities of principle and interest guaranteed separate account’s financial statement. (e) There is no 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, 2019 and 2020. (f) The amount of temporary difference regarding investment in subsidiaries that are not recognized as deferred tax liabilities as of December 31, 2019 and 2020 are as follows: 2019 2020 Investment in associates W (766,888) (897,110 ) (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, 2019 and 2020 are as follows: 2019 2020 Deferred tax assets W 518,337 440,430 Deferred tax liabilities (751,686 ) (804,741 ) |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2020 | |
Earnings per share [Abstract] | |
Earnings per share | 42. Earnings per share (a) Basic and diluted earnings per share for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Profit attributable to equity holders of Shinhan Financial Group W 3,156,722 3,403,497 3,414,595 Less: Dividends to hybrid bond (40,357 ) (61,993 ) (85,327 ) Net profit available for common stock W 3,116,365 3,341,504 3,329,268 Weighted average number of common shares outstanding (*1) 473,649,076 477,346,731 500,343,324 Basic and diluted earnings per share in won W 6,579 7,000 6,654 (*1) The number of basic ordinary shares outstanding is 516,599,554 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. (*2) Treasury stock has retired on June 1, 2020. (b) The calculation details of the weighted average number of ordinary shares are as follows: 2020 Number of shares Number of days Number of common shares issued 516,599,554 178,880,869,852 Shares of convertible preferred stock 17,482,000 6,398,412,000 Shares of treasury stock (704,796 ) (2,153,625,403 ) Average number of ordinary shares 533,376,758 183,125,656,449 Days 366 days Weighted average number of ordinary shares 500,343,324 |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and contingencies [Abstract] | |
Commitments and contingencies | 43. Commitments and contingencies (a) Guarantees, acceptances and credit commitments as of December 31, 2019 and 2020 are as follows: 2019 2020 Guarantees: Outstanding guarantees W 9,319,885 10,249,827 Contingent guarantees 3,669,697 3,433,953 12,989,582 13,683,780 Commitments to extend credit: Loan commitments in won 74,393,722 80,598,639 Loan commitments in foreign currency 22,542,776 19,319,903 ABS and ABCP commitments 2,116,354 1,604,958 Others 81,387,165 87,718,227 180,440,017 189,241,727 Endorsed bills: Secured endorsed bills 11,287 1,650 Unsecured endorsed bills 6,737,097 7,324,559 6,748,384 7,326,209 Loans sold with repurchase agreement 2,099 — W 200,180,082 210,251,716 (b) Pending litigations The Group’s pending lawsuits as a defendant as of December 31, 2020 are as follows: Case Number of Claim Description Status Claim for the payment to execute the assignment order 1 W 7,099 For the deposits at the Group owned by one of the debtor, the plaintiff has received a provisional seizure order, bond seizure and an assignment order that assigned the Bank as a third party debtor. Accordingly, the plaintiff filed a claim against the Bank for the debt payment to execute the assignment order. In progress for the first order. Deposit return 1 5,575 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 HYUN, the legal firm, proceed a Matron’s private lawsuit related the Group. In progress for the first order. Gampo Ramada 1 5,658 The plaintiff has requested the intermediate loan of the repayment of loans until now because the Group planned for a three months extension of the maturity of the intermediate loan and have made a commitment to repay the principal and interest of the unpaid intermediate payment loan to the plaintiff after three months. The Group lost the first and second order (2021.01.14) and the third order is ongoing. Others 530 301,460 It includes various cases, such as compensation for loss claim. 533 W 319,792 As of the December 31, 2020, the Group has recorded W W (c) The Group entered into an agreement between shareholders with Asia Trust Co., Ltd. (60% of its total shares) to acquire remaining stake. 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) As a Prime Brokerage Service operator, the Group entered into a total return swap agreement (TRS, derivatives that exchange profits and losses from underlying assets such as stocks, bonds and funds) with a fund operated by Lime Asset Management (“Lime Fund”). Through TRS with the Group, the Lime Fund invested approximately $200 million in IIG Global Trade Finance Fund, IIG Trade Finance Fund, and IIG Trade Finance Fund-FX The Group invested the IIG Fund in LAM Enhanced Finance III L.P. (“LAM III Fund”) in kind and acquired the LAM III Fund’s beneficiary certificates in accordance with the management instructions of Lime Asset Management in 2019. The recoverable value of the LAM III Fund beneficiary certificates is affected by the recoverable value of the IIG Fund invested in kind. Meanwhile, IIG Fund received cancellation of registration and asset freeze from the US Securities and Exchange Commission in November 2019. The Financial Supervisory Service (FSS) announced in its interim inspection of Lime Fund in February 2020 that the Group is charged of being involved in poor concealment and fraud of Lime Fund while operating TRSs with Lime Fund, and a related prosecution investigation has been under way since then. The Financial Supervisory Service has notified advance notice that is a result of the inspection on the Lime Trade Financial Fund and Lime CI Fund to the Group. In addition, regarding the Lime Trade Financial Fund, the Financial Supervisory Service Sanctions Review Committee and the Financial Services Commission Securities Futures Commission reviewed and voted on the sanctions of former executives and institutions. It will be finalized by the Financial Services Commission in the future, and the Lime CI Fund is currently undergoing a Financial Supervisory Service Sanctions Review Committee. The prosecution arrested and indicted the former director of Prime Brokerage Services on fraud charges. On September 25, the former director of Prime Brokerage Service was convicted in the first trial for fraud for violation of the Capital Market and Financial Investment Services Act. The former director of Prime Brokerage Services submitted an appeal on October 5, 2020. The prosecution indicted the Group and the former director of Prime Brokerage Services on January 22, 2021 for violating ‘Financial Investment Services and Capital Markets Act’. It is expected that the criminal trial will determine whether the Group is legally responsible or not. The Group has determined the present obligation that the Group may liable for the charge of involvement in the fraud is not significant. Meanwhile, as of December 31, 2020, there is an international dispute over some beneficiary certificates acquired under the management order of Lime Asset Management. Considering the board’s voluntary compensation decision and the results of the Financial Supervisory Service’s dispute settlement committee, the Group conducted the compensation and liquidity supply for some of the Lime Fund sales. Supervision authorities are currently conducting inspections on Lime Asset Management, and depending on the inspection results, procedures for dispute settlement and damage relief measures for incomplete sales may be carried out. (g) The Group sold approximately W W (h) The Group has sold Gen2 related trust instruments from May 2014 to November 2019. As of December 31, 2020, approximately W W |
Statement of cash flows
Statement of cash flows | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of cash flow statement [Abstract] | |
Statement of cash flows | 44. Statement of cash flows (a) Cash and cash equivalents in the consolidated statements of cash flows as of December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Cash and due from banks at amortized cost W 17,363,450 28,435,818 33,420,549 Adjustments: Due from financial institutions with a maturity over three months from date of acquisition (3,008,188 ) (3,349,719 ) (2,488,156 ) Restricted due from banks (6,175,506 ) (16,506,925 ) (21,969,411 ) W 8,179,756 8,579,174 8,962,982 (b) Significant non-cash 2018 2019 2020 Debt-equity swap W 28,759 224,093 58,528 Transfers from construction-in-progress 6,319 76,004 56,575 Transfers between property and equipment and investment property 28,199 104,573 4,064 Transfers between assets held for sale and property and equipment 80 455 31,633 Transfers between investment property and assets held for sale — 15,795 910 Accounts payable for purchase of intangible assets, etc. 1,047 472,798 137,476 Transaction for right-of-use — 1,376,764 281,785 Exchange of shares related to acquisition of subsidiaries — — 629,449 Exchange of shares related to disposal of treasury stocks — — 287,669 (c) Changes in assets and liabilities arising from financing activities for the years ended December 31, 2019 and 2020 are as follows: 2019 Net derivative Borrowings Debentures Lease Beginning balance W (77,102 ) 29,818,542 63,227,699 536,842 Changes from cash flows 21,958 5,017,269 11,201,673 (269,362 ) Changes from non-cash Amortization of discount on borrowings and debentures — 58,320 352,524 11,291 Changes in foreign currency exchange rate — 173,623 282,534 — Others 60,966 (204,598 ) 298,934 792,901 Business combination — — — 32,587 Ending balance W 5,822 34,863,156 75,363,364 1,104,259 2020 Net derivative Borrowings Debentures Lease Beginning balance W 5,822 34,863,156 75,363,364 1,104,259 Changes from cash flows (43,676 ) 7,465,106 (28,372 ) (781,867 ) Changes from non-cash Amortization of discount on borrowings and debentures — 22,836 437,627 14,504 Changes in foreign currency — 271,179 (417,151 ) — Others 126,638 (1,037,213 ) (221,074 ) 256,426 Business combination(Note47) — 9,000 — 839 Ending balance W 88,784 41,594,064 75,134,394 594,161 |
Related parties
Related parties | 12 Months Ended |
Dec. 31, 2020 | |
Related parties [Abstract] | |
Related parties | 45. Related parties Intra-group balances, and income and expenses arising from intra-group transactions are eliminated in preparing the consolidated financial statements. In accordance with IAS 24, the Group defines the retirement benefit plans of the associates, key management and their families, the consolidation group and related parties as the scope of related parties. The amount of profit and loss, bond and debt balance between the Group and the related parties are disclosed. For details of the subsidiaries, refer to ‘Note 15’. (a) Balances with the related parties as of December 31, 2019 and 2020 are as follows: Related party Account 2019 2020 Investments in associates: BNP Paribas Cardif Life Insurance Other assets W 92 76 ” Credit card loans 173 81 ” Deposits 402 13,941 Partners 4th Growth Investment Fund Deposits 1,443 2,802 BNP Paribas Cardif General Insurance Credit card loans 26 21 ” Other assets 401 — ” Deposits 17 41 Shinhan Praxis K-Growth Other assets 91 — Dream High Fund III Deposits 5 4 Credian Healthcare Private Equity Fund II Deposits 4 2 Midas Dong-A Deposits 233 1,739 Eum Private Equity Fund No.3 Deposits 353 20 Incorporated association Finance Saving Information Center Deposits 6 7 GX Shinhan interest 1 st Unearned revenue 248 — Nomura investment property trust No.19 Loans 11,973 11,976 ” Other assets 42 44 Related party Account 2019 2020 Investments in associates (continued): SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 Other assets W 678 1,160 Shinhan-Stonebridge Petro Private Equity Fund (*) Other assets 810 — Korea Finance Security Deposits 362 568 SHINHAN-CORE TREND GLOBAL FUND 1 Unearned revenue 9 16 Hermes Private Investment Equity Fund Deposits 275 352 Multimedia Tech Co.Ltd Deposits 3 — Korea Credit Bureau Deposits 80 2,088 Goduck Gangil1 PFV Co., Ltd Loans 24,000 24,000 ” ACL (78 ) (71 ) SBC PFV Co., Ltd Deposits 5,142 8,011 GMG Development Co,. Ltd (*) Deposits 300 — Sprott Global Renewable Private Equity Fund I Deposits 342 258 IMM Global Private Equity Fund Loans 800 800 ” ACL (3 ) (2 ) ” Deposits 7,598 10,820 Goduck Gangil10 PFV Co., Ltd Loans — 9,400 ” ACL — (19 ) ” Deposits — 2,718 Shinhan Global Healthcare Fund 2 Deposits — 1 One Shinhan Global Fund 1 Unearned revenue — 122 IGIS PRIVATE REAL ESTATE TRUST NO.331 Loans — 9,919 ” Accrued income — 121 ” Unearned revenue — 22 COSPEC BIM tech Loans — 151 ” ACL — (95 ) ” Deposits — 1 IMM Special Situation 1-2 Deposits — 117 EDNCENTRAL Co.,Ltd. Loans — 19,450 ” Accrued income — 9 ” Unearned revenue — 578 KoFC-Neoplux R&D-Biz 2013-1 Account receivables — 2,823 Future-Creation Neoplux Venture Capital Fund Account receivables — 4,137 Neoplux Market-Frontier Secondary Fund Account receivables — 1,630 Gyeonggi-Neoplux Superman Fund Account receivables — 186 Shinhan-Neoplux Energy Newbiz Fund Account receivables — 25 Related party Account 2019 2020 Investments in associates (continued): SHINHAN-NEO Account receivables W — 3 KTC-NP 2011-2 Account receivables — 4,528 Neoplux No.3 Private Equity Fund Account receivables — 748 NV Station Private Equity Fund Deposits — 100 Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 Unearned revenue — 76 IGIS Private Real Estate Investment Trust 286 Other loans — 436 Genesis North America Power Company No.1 PEF Other loans — 2,171 Key management personnel and their immediate relatives: Loans 4,426 5,144 Assets 43,431 98,852 Liabilities W 16,822 44,404 (*) Excluded from the associates due to disposal and liquidation for the year ended December 31, 2020 (b) Transactions with the related parties for the years ended December 31, 2018, 2019 and 2020 are as follows: Related party Account 2018 2019 2020 Investments in associates BNP Paribas Cardif Life Insurance Fees and commission income W 3,716 4,230 3,390 ” Reversal of credit losses 4 3 — ” Other expense — (1 ) (5 ) ” General and administrative expenses (17 ) (9 ) (4 ) Shinhan Praxis K-Growth Fees and commission income 685 448 361 BNP Paribas Cardif General Insurance Fees and commission income 9 11 10 ” Provision for credit losses (2 ) — — ” Other operating income — 468 333 Midas Dong-A Fees and commission income 47 119 — ” Interest expense (2 ) (1 ) — SP New Technology Business investment Fund I Fees and commission income 317 — — Related party Account 2018 2019 2020 Investments in associates IBKS-Shinhan Creative Economy New Technology Fund Fees and commission income W 13 — — IBKS-Shinhan Creative Economy New Technology Fund 2 (*1) Fees and commission income 16 8 — SM New Technology Business Investment Fund I Fees and commission income 55 14 — JAEYOUNG SOLUTEC CO., LTD. Interest income 523 — — ” Fees and commission income 2 — — ” Other operating income 3 — — ” Reversal of credit losses — — — ” Interest expense (2 ) — — ” Provision for credit losses (1 ) — — Partners 4th Growth Investment Fund Interest expense (19 ) (7 ) (4 ) Shinhan-Albatross Technology Investment Fund Fees and commission income 216 216 54 SHBNPP Private Korea Equity Long-Short Professional Feeder (*2) Fees and commission income 975 363 — KDBC Midas Dong-A Interest expense (2 ) — (2 ) STI-New Fees and commission income 16 — — Shinhan Fintech New Technology Fund No.1 (*1) Fees and commission income 153 38 — Shinhan Global Healthcare Fund 1 Fees and commission income 785 360 — Taihan Industrial System Co., Ltd. Fees and commission income 1 — — Shinhan capital-Cape FN Fund No.1 (*1) Fees and commission income 82 101 — SHC-K2 Fees and commission income 20 19 19 Synergy-Shinhan Mezzanine New Technology Investment Fund Fees and commission income 127 94 50 Shinhan-Midas Dong-A Fees and commission income 71 187 63 GX Shinhan interest 1st Private Equity Fund (*3) Fees and commission income 412 545 454 Shinhan-Nvestor Liquidity Solution Fund Fees and commission income 214 361 361 Related party Account 2018 2019 2020 Investments in associates SHC ULMUS Fund No.1 (*3) Fees and commission income W 51 76 39 Shinhan-PS Fees and commission income 12 20 20 Nomura investment property trust No.19 Interest income 312 519 525 ” Other operating income — 7 3 ” Provision for credit loss (34 ) — — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 Fees and commission income 236 2,694 2,501 Shinhan-Stonebridge Petro Private Equity Fund Fees and commission income 1,920 1,762 — KOREA FINANCE SECURITY Fees and commission income — 10 10 ” Interest expense — — (1 ) ShinHan-Soo Young Entrepreneur Investment Fund Fees and commission income — 275 206 Shinhan-Rhinos 1 Fund Fees and commission income — 64 64 SHINHAN-CORE TREND GLOBAL FUND1 Fees and commission income — 45 100 Kiwoom-Shinhan Innovation Fund I Fees and commission income — 67 240 One Shinhan Global Fund1 Fees and commission income — 151 399 Open-Shinhan Portfolio Investment Association No. 1 Fees and commission income — 59 59 FuturePlay-Shinhan TechInnovation Fund 1 Fees and commission income — 7 218 WON JIN HOME PLAN CO.,LTD Interest income — 186 — Korea Credit Bureau Fees and commission income — 13 13 ” Interest expense — (5 ) (12 ) Goduck Gangil1 PFV Co., Ltd Interest income — 328 915 ” Fees and commission income — 1,120 — ” Provision for credit loss — (78 ) 7 SBC PFV Co., Ltd Fees and commission income — — 732 ” Interest expense — (3 ) (5 ) IMM Global Private Equity Fund Interest income — 28 25 ” Interest expense — (25 ) (13 ) ” Provision for credit loss — (3 ) — Goduck Gangil10 PFV Co., Ltd Interest income — — 299 ” Fees and commission income — — 793 ” Interest expense — — (4 ) ” Provision for credit loss — — (19 ) Related party Account 2018 2019 2020 Investments in associates IGIS PRIVATE REAL ESTATE TRUST NO.331 Interest income W — — 731 ” Other operating expense — — (67 ) ” Fees and commission income — — 478 COSPEC BIM tech Provision for credit loss — — (95 ) Korea Omega Project Fund I Fees and commission income — — 131 New Green Shinhan Mezzanine Fund Fees and commission income — — 42 Sparklabs-Shinhan Opportunity Fund 1 Fees and commission income — — 174 EDNCENTRAL Co.,Ltd. Interest income — — 649 ” Fees and commission income — — 578 ” Other operating expense — — (121 ) Shinhan Western T&D Consignment Management Real Estate Investment Co., Ltd (*3) Fees and commission income — — 300 Kakao-Shinhan 1st TNYT Fund Fees and commission income — — 165 KoFC-Neoplux R&D-Biz 2013-1 Interest income — — 9 ” Fees and commission income — — 44 Future-Creation Neoplux Venture Capital Fund Interest income — — 14 ” Fees and commission income — — 116 Neoplux Market-Frontier Secondary Fund Fees and commission income — — 416 Gyeonggi-Neoplux Superman Fund Fees and commission income — — 149 Shinhan-Neoplux Energy Newbiz Fund Fees and commission income — — 308 NewWave 6th Fund Fees and commission income — — 303 SHINHAN-NEO Fees and commission income — — 3 KTC-NP 2011-2 Interest income — — 5 ” Fees and commission income — — 86 Neoplux No.3 Private Equity Fund Fees and commission income — — 748 Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 Fees and commission income — — 1,412 Related party Account 2018 2019 2020 Investments in associates CREDIAN T&F 2020 CORPORATE FINANCIAL STABILITY PRIVATE EQUITY FUND (*3) Interest expense W — — (1 ) Key management personnel and their immediate relatives Interest income 101 161 126 W 11,015 15,045 18,897 (*1) Excluded from the associates due to disposal and liquidation for the year ended December 31, 2019 (*2) 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. (*3) Excluded from the associates due to disposal and liquidation for the year ended December 31, 2020. (c) Key management personnel compensation Key management personnel compensation for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Short-term employee benefits W 22,502 21,237 23,468 Severance benefits 419 731 651 Share-based payment transactions (*) 4,944 12,343 2,628 W 27,865 34,311 26,747 (*) The expenses of share-based payment transactions are the renumeration expenses during the vesting period. (d) The guarantees provided between the related parties as of December 31, 2019 and 2020 are as follows: Amount of guarantees Guarantor Guaranteed Parties 2019 2020 Account Shinhan Bank BNP Paribas Cardif Life Insurance W 10,000 10,000 Unused credit line (*) Among the associates, the amount of the securities purchase agreement for structured entities is W (e) Details of collaterals provided by the related parties as of December 31, 2019 and 2020 are as follows: Provided to Provided by Pledged assets 2019 2020 Shinhan Bank BNP Paribas Cardif Life Insurance Government bonds W 12,000 12,000 Hyungje art printing Properties 120 120 Goduck Gangil1 PFV Co., Ltd Guarantee insurance policy 28,800 28,800 Goduck Gangil10 PFV Co., Ltd Guarantee insurance policy — 13,000 W 40,920 53,920 (f) Details of significant loan transactions with related parties as of December 31, 2019 and 2020 are as follows: 2019 Classification Company Beginning Loan Recover Others (*) 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. 2020 Classification Company Beginning Loan Recover Others (*1) Ending Investments in associates Nomura investment property trust No.19 W 11,973 — — — 11,973 IGIS PRIVATE REAL ESTATE TRUST NO.331 — 10,000 — (312 ) 9,688 EDNCENTRAL Co.,Ltd. — 20,000 — (619 ) 19,381 Goduck Gangil1 PFV Co., Ltd 24,000 — — — 24,000 Goduck Gangil10 PFV Co., Ltd — 28,200 (18,800 ) — 9,400 IMM Global Private Equity Fund 800 — — — 800 COSPEC BIM tech(*2) — — — 151 151 Total W 36,773 58,200 (18,800 ) (780 ) 75,393 (*1) The effect on changes in allowance for credit loss is included. (*2) For the year ended December 31, 2020, it is incorporated as a related party, and has marked the balance as of December 31, 2020. |
Interests in unconsolidated str
Interests in unconsolidated structured entities | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of unconsolidated structured entities [Abstract] | |
Interests in unconsolidated structured entities | 46. 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, 2019 and 2020 are as follows: 2019 2020 Total assets: Asset-backed securitization W 208,441,947 253,958,036 Structured financing 195,374,046 257,475,395 Investment fund 215,371,530 203,863,889 W 619,187,523 715,297,320 (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, 2019 and 2020 are as follows: 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 2020 Assets-backed securitization Structured financing Investment fund Total Assets: Loans measured at fair value through profit or loss W 10,007 396,006 — 406,013 Loan at amortized cost 882,708 11,631,322 80,166 12,594,196 Securities at fair value through profit or loss 4,703,527 200,966 9,403,611 14,308,104 Derivate assets 10,353 1,050 — 11,403 Securities at fair value through other comprehensive income 2,105,239 122,664 — 2,227,903 Securities at amortized cost 6,294,228 — — 6,294,228 Other assets 2,019 59,980 4,936 66,935 W 14,008,081 12,411,988 9,488,713 35,908,782 Liabilities: Derivate liabilities W 582 — — 582 Other liabilities 2,610 21,421 — 24,031 W 3,192 21,421 — 24,613 ii) Exposure to risk relating to its interests in unconsolidated structured entities as of December 31, 2019 and 2020 are as follows: 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 2020 Assets-backed securitization Structured financing Investment fund Total Assets held W 14,008,081 12,411,988 9,488,713 35,908,782 ABS and ABCP commitments 932,113 2,300 1,923,035 2,857,448 Loan commitments 618,030 707,860 — 1,325,890 Guarantees 87,293 — — 87,293 Others — 123,210 5,887 129,097 W 15,645,517 13,245,358 11,417,635 40,308,510 |
Business combination
Business combination | 12 Months Ended |
Dec. 31, 2020 | |
Business combination [Abstract] | |
Business combination | 47. Business combination (a) Neoplux Co., Ltd. i) General information As of September 29, 2020, the Group gained control of Neoplux Co., Ltd. as a subsidiary by acquiring a 96.77% (97.08% stake of voting rights) stake and reporting to the Financial Services Commission about the transfer of subsidiary. As of December 30, 2020, the Group acquired the remaining shares, and Neoplux Co., Ltd. became a wholly owned subsidiary of the Group. The main reason forbusiness combination is to promote investment financing and secure new business opportunities in the investment banking sector. 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 179 Investment assets in the long-term 463 Venture capital investment assets 38,800 Private equity investment company investment assets 12,230 Property and equipment 835 Intangible assets (*2) 1,254 Other assets (*3) 18,911 72,672 Liabilities: Borrowings 9,000 Other liabilities 4,804 13,804 Fair value of the identifiable net assets W 58,868 (*1) The accounting for the acquisition of Neoplux Co., Ltd. is tentatively determined using the identifiable assets and liabilities recognized by Neoplux Co., Ltd. at the time of business combination. For the year ended December 31, 2020, the acquisition has not completed the identification of intangible assets for allocation and the fair value assessment of identifiable assets and liabilities. The goodwill may vary depending on the results of the fair value assessment of the identifiable assets and liabilities for the allocation of the consideration. (*2) The contract balance recognized as a business combination includes W (*3) During the business combination, the Group has acquired receivables that are fair value of W W iii) Goodwill Goodwill recognized as a result of business combination is as follows: Amount Consideration paid in cash W 71,128 Fair value of identifiable net assets (58,868 ) Non-controlling 1,718 Goodwill W 13,978 (*) For the year ended December 31, 2020, the non-controlling non-controlling iv) Cost related to business combination The Group incurred a cost of W v) Net cash outflows due to business combination Net cash outflows due to business combination for the year ended December 31, 2020 are as follows: Amount Consideration transferred in cash W 71,128 Acquired cash and cash equivalents (*) (174 ) W 70,954 (*) The amount of cash and cash equivalents acquired is the amount of cash and amortized cost measurement deposits minus the amount of restricted deposits. vi) If Has Neoplux Co., Ltd. consolidated as of January 1, 2020, the consolidated operating income and profit for the period of the Group, which would have been included in the consolidated statement of comprehensive loss, are W W |
Uncertainty due to changes in d
Uncertainty due to changes in domestic and global economic conditions | 12 Months Ended |
Dec. 31, 2020 | |
Uncertainty due to changes in domestic and global economic conditions [Abstract] | |
Uncertainty due to changes in domestic and global economic conditions | 48. Uncertainty due to changes in domestic and global economic conditions The rapid spread of the COVID-19 ‘ Financial Instruments ’ COVID-19 ended December 31, 2020 is re-estimated COVID-19 Risk exposures by major consolidated subsidiaries due to COVID-19 (a) Shinhan Bank 2020 Airlift Lodging Oil/ Art- Movie Clothing Travel Total Loans at amortized cost W 120,854 3,445,269 685,336 244,036 95,240 1,763,741 112,647 6,467,123 Securities at fair value through profit or loss — — 3,088 — — 3,060 — 6,148 Securities at fair value through other comprehensive income 52,878 2,611 224,894 — 6,539 9,797 — 296,719 Off-balance 404,767 289,948 3,058,516 9,630 111,266 938,705 60,171 4,873,003 W 578,499 3,737,828 3,971,834 253,666 213,045 2,715,303 172,818 11,642,993 (b) Shinhan Card Co., Ltd. 2020 Retails Credit sales Short term card loan Long term card loan Total Loans at amortized cost W 357,589 142,252 283,150 782,991 Off-balance 702,124 702,124 (c) Jeju Bank 2020 Lodging Manufacturing Retail Construction Industry Leisure Transportation Business Etc Total Loans at amortized cost W 599,875 30,095 517,843 85,640 57,677 29,679 92,373 1,413,182 Off-balance 20,658 563 18,691 7,100 1,053 2,103 3,082 53,250 W 620,533 30,658 536,534 92,740 58,730 31,782 95,455 1,466,432 As of December 31, 2020, the exposure of the borrowers who applied for moratorium of interest payments and moratorium of repayment in installments by Shinhan Bank is as follows: Exposure Moratorium of interest payments W 242,794 Moratorium of repayment in installments 1,067,502 Moratorium of interest payments and moratorium of repayment in installments 80,581 W 1,390,877 |
Transition effects arising from
Transition effects arising from changes in accounting policies | 12 Months Ended |
Dec. 31, 2020 | |
Transition effects arising from changes in accounting policies [Abstract] | |
Transition effects arising from changes in accounting policies | 49. 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 20,791,680 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) (2,895 ) 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 Carrying value Carrying Difference Financial assets: Due from banks Loans and receivables Financial assets measured at FVTPL (*2) 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 measured at FVTPL (*2) 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 (debt securities) Financial assets at FVTPL Financial assets measured at FVTPL 23,640,646 23,640,646 — Trading assets (equity securities) Financial assets at FVTPL Financial assets measured at FVTPL 4,634,353 4,634,353 — Trading assets (deposit in gold and silver) Financial assets at FVTPL Financial assets measured at FVTPL 189,297 189,297 — Financial assets designated as at FVTPL (debt securities) Financial assets at FVTPL Financial assets measured at FVTPL (*3) 2,030,522 2,030,522 — Financial assets at FVTPL Financial assets designated as at FVTPL 80,288 80,288 — Financial assets designated as at FVTPL (equity securities) Financial assets at FVTPL Financial assets measured at FVTPL (*3) 1,162,553 1,162,553 — Financial assets at FVTPL Financial assets designated as at FVTPL 71,803 71,803 — Financial assets designated as at FVTPL (other securities – compound financial instruments) Financial assets at FVTPL Financial assets measured at FVTPL (*3) 233,892 233,892 — Derivatives Financial assets at FVTPL Financial assets measured at FVTPL (*3) 3,400,178 3,348,803 (51,375 ) AFS financial assets (debt securities) AFS financial assets Financial assets measured at FVTPL (*2) 528,745 533,452 4,707 AFS financial assets Financial assets measured at FVOCI 36,657,807 36,657,807 — AFS financial assets (equity securities) AFS financial assets Financial assets measured at FVTPL (*2) 4,339,979 4,350,969 10,990 AFS financial assets Financial assets measured at FVOCI 590,405 590,405 — IAS 39 IFRS 9 Carrying value Carrying Difference HTM financial assets (debt securities) HTM financial assets Financial assets measured at FVTPL (*2) W 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 measured at amortized cost W 249,419,224 249,419,224 — Trading liabilities Financial liabilities at FVTPL Financial liabilities measured at FVTPL 1,848,490 1,848,490 — Financial liabilities designated as at FVTPL Financial liabilities at FVTPL Financial liabilities designated as at FVTPL 8,260,636 8,260,636 — Financial liabilities at FVTPL Financial liabilities measured at FVTPL (*3) 36,973 36,973 — Derivatives Financial liabilities at FVTPL Financial liabilities measured at FVTPL (*3) 3,487,661 3,483,642 (4,019 ) Borrowings Financial liabilities measured at amortized cost Financial liabilities measured at amortized cost 27,586,610 27,586,313 (297 ) Debt securities issued Financial liabilities measured at amortized cost Financial liabilities measured at amortized cost 51,340,821 51,340,821 — Others Financial liabilities measured at amortized cost Financial liabilities measured at amortized cost 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 ) — — — — Carrying value based Amount Amount Carrying value Changes in Changes in Derivatives (*1) Carrying value under IAS 39 as of January 1, 2018 W 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 ) — — 3,579,057 (3,579,057 ) — — — — AFS (debt securities) Carrying value under IAS 39 as of January 1, 2018 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 — (590,406 ) — (590,406 ) — — 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 ) — — Carrying value based Amount Amount Carrying value Changes in Changes in Reclassification to financial assets measured at amortized cost W — (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 — (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 — — Financial liabilities : Carrying value Amount Amount Carrying value Changes in Changes in other Derivative liabilities Carrying value under IAS 39 as of January 1, 2018 W 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. |
Condensed Shinhan Financial Gro
Condensed Shinhan Financial Group (Parent Company only) Financial Statements | 12 Months Ended |
Dec. 31, 2020 | |
Condensed financial information of parent company only disclosure [Abstract] | |
Condensed Shinhan Financial Group (Parent Company only) Financial Statements | 50. Condensed Shinhan Financial Group (Parent Company only) Financial Statements STATEMENTS OF FINANCIAL POSITION 2019 2020 Assets Deposits Banking subsidiaries W 167 3 Other — — Receivables from subsidiaries: Non-banking 2,219,698 3,218,455 Investment (at equity) in subsidiaries: Banking subsidiaries 13,797,222 13,797,222 Non-banking 15,183,053 16,157,962 Financial assets at FVTPL 443,377 1,810,867 Derivative assets 24,352 39,392 Property, equipment and intangible assets, net 11,106 10,360 Other assets Banking subsidiaries 408,436 260,342 Non-banking 171,321 173,473 Other 2,590 15,838 Total assets W 32,261,322 35,483,914 Liabilities and equity Debt securities issued W 9,147,640 9,920,059 Derivative liabilities 17,687 22,133 Accrued expenses & other liabilities 630,569 484,625 Total liabilities 9,795,896 10,426,817 Equity 22,465,426 25,057,097 Total liabilities and equity W 32,261,322 35,483,914 CONDENSED STATEMENTS OF INCOME 2018 2019 2020 Income Dividends from banking subsidiaries W 541,524 892,310 892,420 Dividends from non-banking 866,150 428,634 495,110 Interest income from banking subsidiaries 268 263 194 Interest income from non-banking 31,224 38,968 68,914 Other income 74,215 125,324 268,784 Total income 1,513,381 1,485,499 1,725,422 Expenses Interest expense (187,882 ) (206,815 ) (231,205 ) Other expense (89,145 ) (147,589 ) (216,708 ) Total expenses (277,027 ) (354,404 ) (447,913 ) Profit before income tax expense 1,236,354 1,131,095 1,277,509 Income tax expense 1,471 1,922 3,066 Profit for the year W 1,234,883 1,129,173 1,274,443 CONDENSED STATEMENTS OF CASH FLOWS 2018 2019 2020 Cash flows from operating activities Profit before income taxes W 1,236,354 1,131,095 1,277,509 Non-cash (1,251,379 ) (1,164,022 ) (1,313,967 ) Changes in operating assets and liabilities (1,671,189 ) 1,475,702 (1,272,738 ) Net interest paid (153,926 ) (154,765 ) (165,570 ) Dividend received from subsidiaries 1,407,674 1,320,944 1,386,843 Income tax refunds(paid) — (194 ) — Net cash provided by (used in) operating activities (432,466 ) 2,608,760 (87,923 ) Cash flows from investing activities Net loan origination to non-banking (412,630 ) (575,936 ) (1,073,657 ) Acquisition of subsidiary (42,273 ) (2,977,196 ) (73,335 ) Other, net (231,281 ) (660 ) (100,875 ) Net cash used in investing activities (686,184 ) (3,553,792 ) (1,247,867 ) Cash flows from financing activities Issuance of common stocks — — 1,154,347 Issuance of convertible preferred shares — 747,791 — Issuance of hybrid bonds 1,107,838 199,476 448,699 Net changes in borrowings 120,000 (125,000 ) — Issuance of debt securities issued 2,396,138 3,194,764 2,240,581 Repayments of debt securities issued (1,590,000 ) (1,844,000 ) (1,384,000 ) Dividend paid (714,705 ) (830,772 ) (968,847 ) Acquisition of treasury stock (151,993 ) (444,077 ) (150,448 ) Disposition of and incineration cost of treasury stock — — (3,033 ) Redemption of lease liabilities — (1,614 ) (1,673 ) Net cash provided by (used in) financing activities 1,167,278 896,568 1,335,626 Net increase (decrease) in cash and cash equivalents 48,628 (48,464 ) (164 ) Cash and cash equivalents at beginning of year — 48,628 164 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, 2020 | |
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, 2021, accordingly such statements were submitted for approval to the stockholder’s meeting held on March 25, 2021. |
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 • financial instruments at fair value through other comprehensive income measured at fair value • liabilities for cash-settled share-based payment arrangements measured at fair value • financial assets and 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 judgments | (d) Use of estimates and judgments 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 judgments 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, 2019. |
Change in accounting policy | (e) Change in accounting policy Except for the following new standards, which have been applied from January 1, 2020, 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. i) Amendments to IAS 1 ‘Presentation of financial statements’ and IAS 8 ‘Accounting policies, changes in accounting estimates and errors’ – Definition of materiality The amendments clarify the explanation of the definition of material and IAS 1 and IAS 8 are amended in accordance with the clarified definitions. Materiality is assessed by reference to omission or misstatement of material information as well as effects of immaterial information, and to the nature of the users when determining the information to be disclosed by the Group. The amendments do not have a significant impact on the consolidated financial statements. ii) Amendments to IFRS 3 ‘Business combination’ – Definition of business To consider the integration of the acquired activities and assets as a business, the amended definition of a business requires an acquisition to include an input and a substantive process that together significantly contribute to the ability to create outputs and excludes economic benefits from lowing the costs. If all of the fair value of gross assets acquired is substantially concentrated in a single identifiable asset or a group of similar assets, an entity may elect to apply a concentration test, an optional test, to permit a simplified assessment of whether an acquired asset of activities and assets is not a business. The amendments do not have a significant impact on the consolidated financial statements. (iii) Amendments to IFRS 16 ‘Lease’ – The practical expedient for the exemption, discount or deferral of rent related to COVID-19 As a practical expedient, the lessee may not evaluate whether a rent concession, such as the rent discount directly resulting from COVID-19, W ‘Lease’. |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of significant accounting policies [Abstract] | |
Operating segments | (a) Operating segments The Group has divided the segments based on internal reports reviewed periodically by the top sales decision maker to make decisions about the resources allocated to the segments and evaluate their performance. There are five reporting segments as described in Note 7. The reporting segments are operated separately according to the nature of the goods and services provided and the organizational structure of the Group. The segment reported to the Chief Executive Officer (“CEO”) includes items directly attributable to a segment as well as those that can be allocated on a reasonable basis. It is the CEO’s responsibility to evaluate the resources to be distributed to the business and the performance of the business, and to make 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. It does not own shares directly or indirectly for these companies. Considering the terms and conditions of the arrangement in which the structured entity was established, the consolidated entity gains and losses from the operations of the structured entity. It is included in the consolidated entities if it is determined that it has the ability to direct the activities of a consolidated structured entity that can most significantly affect these gains and losses. 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. Unrealized 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 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 transfer consideration 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 acquired 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 acquired employee that is included in transfer consideration 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 broker’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. |
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 the Group’s stake 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 transactions and events in similar circumstances, appropriate adjustments are made to its financial statements in applying the equity method. When the carrying amount of that interest, including any long-term investments, is reduced to nil, 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 are comprised of 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, like in the case of preferred shares acquired within a short period of their maturity and with a specified redemption date. |
Non-derivative financial assets | (f) Non-derivative Financial assets are recognized in the consolidated statement of financial position when the Group becomes a party to the contract. In addition, a standardized 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 short-term 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 recognition. 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 in the consolidated statement of comprehensive income 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. A gain or loss on a financial asset measured at amortized cost that is not subject to a hedging relationship is recognized in profit or loss when the financial asset is derecognized or impaired. 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 and, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Other than impairment losses, interest income, foreign exchange differences, gains or losses of the financial assets at FVOCI are recognized as other comprehensive income in equity. On removal, 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 credit losses allowance’ 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. If the Group does not have or transfer most of the risks and rewards of ownership of the financial asset, the entity shall remove the financial asset if it does not control the financial asset. If the Group continues to control the financial asset, it continues to recognize the transferred asset to the extent that it is continuously involved and recognizes the related liability together. If the Group transfers the right to cash flows of a financial asset but holds most of the risks and rewards of ownership of the financial asset, the entity shall continue to recognize the asset. Also, the amount of disposal amount is recognized as a liability. 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. |
Derivative financial instruments | (g) Derivative financial instruments 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. In addition, this document describes the hedging instrument, hedged item, and the method of evaluating the effect of the hedging instrument offsetting changes in the fair value or cash flow of the hedged item due to the hedged risk at the initiation of the hedging relationship and in subsequent periods. The group has applied the following reliefs that were introduced by the amendments made to IFRS 9 Financial Instruments in September 2019. 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 specified interest rate risk components, the requirement that the hedged risk should be separately identifiable applies only at the inception of the hedging relationship. Through the interest rate index reform, this application of exception is ended when the timing and amount of cash flows based on the interest rate index will no longer appear, or the hedging relationship is discontinued. 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. 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 All derivatives except those designated as hedging instruments and are effective in hedging are measured at fair value. 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 the remainder is recognized in profit or loss immediately when the fair value becomes observable. |
Impairment: Financial assets and contract assets | (h) Impairment: Financial assets and contract assets 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 expected credit loss of financial at amortization cost 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 are 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. |
Property and equipment | (i) 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. Descriptions Useful lives Buildings 40~50 years Other properties 4~5 years Depreciation methods, useful lives and residual values are reassessed at each fiscal year-end |
Intangible assets | (j) 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 shown below, from the date that they are available for use. The residual value of intangible assets is zero. However, if there are no foreseeable limits to the periods over which certain intangible assets are expected to be available for use, they are determined to have indefinite useful lives and are not amortized. Descriptions Useful lives Software 5 years Capitalized development cost 5 years Other intangible assets 5 years or contract periods 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 | (k) 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 are as follows: Descriptions Depreciation method Useful lives Buildings Straight-line 40 years |
Leased assets - policy applicable from January 1, 2019 | (l) 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 lessee 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 Additional considerations for the Group when accounting for lessees include: 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. ① 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. ② 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 | (m) 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 | (n) Assets held for sale Non-current classified as held for sale, the asset (or disposal group) must be available for immediate sale in its present condition and its sale must be highly probable. The assets or disposal group that are classified as 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 | (o) 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, and 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 | (p) 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). |
Foreign currencies | (q) 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 end of the reporting period are retranslated to the functional currency using the exchange rate at the end of the reporting period. Non-monetary non-monetary All foreign currency differences arising from the conversion of monetary items are recognised in profit or loss. However, the Group excludes currency differences at the time of settlement of monetary items, conversion differences in net investments in foreign operations and conversion differences for financial liabilities designated cash flow hedges. If gains or losses arising from 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. When a foreign operation is disposed of, the relevant amount in the translation is transferred to profit or loss as part of the profit or loss on disposal. On the partial disposal of a subsidiary that includes a foreign operation, the relevant proportion of such cumulative amount is reattributed to non-controlling 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 | (r) 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. Hybrid bonds issued by subsidiaries of the group are classified as non-controlling non-controlling iii) Capital adjustment 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 | (s) 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. Contributions payable are recognized as liabilities (unpaid expenses) after deducting the contributions already paid. In addition, if the contribution already paid exceeds the contribution due for services provided before the end of the reporting period, the future contribution is reduced or cash refunded due to the excess is recognized as an asset (prepaid expense). 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. 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 | (t) 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 | (u) 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 | (v) Financial guarantee contract 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. 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’ |
Insurance contracts | (w) 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) 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) 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) 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, and select the largest of the following: 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) 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 (pending in the Financial Dispute Mediation Committee). In addition, the Group recognizes unrecognized losses based on historical experience. i-5) 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) In order to cover the policyholder dividend in the future, the total amount is set aside according to business performance according to the law or insurance contracts. i-7) 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 for the compensation of dividend insurance losses shall compensate for the loss of dividend insurance contracts in accordance with the provisions of the fiscal year within five years from the end of the accumulated 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 | (x) 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 received 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 | (y) Revenue from Contracts with Customers 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 rewards in various forms such as payment discounts and free gifts. 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. |
Income tax | (z) 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. 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 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 applies a consolidated tax method based on a consolidated tax base and a domestic corporation (hereinafter referred to as the “Consolidated Entity Corporation “) that is fully controlled by the consolidated parent company and the consolidated tax base. The Group evaluates the feasibility of temporary differences, taking into account the future taxable income of individual companies and consolidated groups, respectively. The change in deferred tax assets (liabilities) was recognized as expense (income), except for the amount associated with items directly added to the equity account. For additional temporary differences in subsidiaries, associates, and joint venture investment interests, the Group may control the timing of the disappearance of temporary differences. All deferred tax liabilities are recognised except in cases where temporary differences are unlikely to dissipate in the foreseeable future. Deferred tax assets arising from deductible temporary differences are likely to be extinguished in the foreseeable future. In addition, It is recognised when taxable income is likely to be used for temporary differences. The carrying amount of deferred tax assets is reviewed at the end of each reporting period. The carrying amount of deferred tax assets is reduced when it is no longer likely that sufficient taxable income will be generated to use benefits from deferred tax assets. 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. Deferred tax assets and liabilities are corporate taxes imposed by the same taxation authority. Deferred tax assets and liabilities are offset only if there is a legally enforceable right to offset the related current tax liabilities and assets. 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 | (aa) 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. In this regard, the funds lent to the trust account are counted as trust account loans and loans borrowed from the trust account as other accounting accounts (non-payment trust account). In accordance with the Financial Investment Business Regulations, trust remuneration is acquired in connection with the operation, management, and disposal of trust property, and it is counted as the operating profit of trust business. |
Earnings per share | (ab) 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 | (ac) 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, 2020. Hence, the Group did not apply the following issued/amended standards in preparing financial statements: i) IFRS 9, ‘Financial Instruments’ and IAS 39, ‘Financial Instruments: Recognition and Measurement’ and IFRS 7, ‘Financial Instruments: Disclosures’ Revision’ and IFRS 4, ‘Insurance Contracts’ IFRS 16, ‘Leases’ amended – Interest rate indicator reform The effective interest rate, not the carrying amount, is adjusted when replacing the interest rate index of a financial instrument measured at amortized cost in relation to the reform of the interest rate index. It includes exceptions, such as allowing hedge accounting to continue uninterrupted even if an interest rate indicator replacement occurs in a hedging relationship. This amendments will take effect for annual periods beginning after January 1, 2021 and are permitted for early application. The Group is determining whether there will be any impacts on the financial statements due to the amendments. ii) IFRS 3 ‘Business combination’ amended – Reference to the Conceptual Framework For liabilities and contingent liabilities, an exception has been added to apply within IAS 37 , ‘Provisions, Contingent Liabilities and Contingent Assets’ , iii) IFRS 17 ’Insurance Contracts’ amended IFRS 17 provides a comprehensive model for insurance contracts covering the recognition and measurement and presentation and disclosure of insurance contracts and replaces IFRS 4. The standard applies to all types of insurance contracts (i.e. life, non-life, re-insurance), features. The standard general model is supplemented by the variable fee approach and the premium allocation approach. IFRS 17 is effective from 1 January 2023. The Group is currently in process of evaluating the potential impact of adopting IFRS 17. (iv) IAS 16 ‘Property, Plant and Equipment ‘ amended – the amount of the sale before the intended use The amendments prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced before that asset is available for use, i.e. proceeds while bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Consequently, the Group recognise such sales proceeds and related costs in profit or loss. This amendments will take effect for annual periods beginning after January 1, 2022 and are permitted for early application. The Group expects that the amendments will not have a significant impact on the consolidated financial statements. (v) IAS 37, ‘Provisions, Contingent Liabilities and Contingent Assets’ amended – Onerous Contracts: Cost of Fulfilling a Contract The amendments specify that the ‘cost of fulfilling’ a contract comprises the ‘costs that relate directly to the contract’. Costs that relate directly to a contract consist of both the incremental costs of fulfilling that contract and an allocation of other costs that relate directly to fulfilling contracts. This amendments will take effect for annual periods beginning after January 1, 2022 and are permitted for early application. The Group expects that the amendments will not have a significant impact on the consolidated financial statements. (vi) Annual Improvements to IFRSs 2018-2020 Cycle For Annual Improvements to IFRSs 2018-2020 Cycle, the amendments will take effect for annual periods beginning after January 1, 2022 and are permitted for early application. The amendments will not have a significant impact on the consolidated financial statements. • IFRS 1, ‘First-time Adoption of IFRS’ – First-time adopter subsidiaries • IFRS 9, ‘Financial Instruments’ – 10% test-related fee for financial liabilities removal • IFRS 16, ‘Leases’ – Lease incentives • IAS 41, ‘Agriculture’ – Fair value measurement vii) IAS 1 ‘Presentation of Financial Statements’ amended – Classification of Liabilities as Current or Non-current It is classified as current or non-current |
Significant estimate and judg_2
Significant estimate and judgment (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of significant estimates and judgments [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) is 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 (e.g. over-the-counter |
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 assumptions used to determine the net cost (profit) of an annuity include a discount rate, and these changes will affect the carrying amount of the defined benefit obligation. The Group is deciding the appropriate discount rate for each half year. The discount rate represents the interest rate that should be used to determine the present value of the estimated future cash outflow expected to occur in settlement of the defined benefit obligation. The Group determines the appropriate discount rate by considering the interest rate of blue-chip corporate bonds that are denominated in the currency in which the pension is paid and have a maturity similar to the period of the associated defined benefit obligation. 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, 2020 | |
Disclosure of reporting entity [Abstract] | |
Ownership of Shinhan Financial Group and its material consolidated subsidiaries | (b) Ownership of Shinhan Financial Group and its major consolidated subsidiaries as of December 31, 2019 and 2020 are as follows: Date of financial Ownership (%) Investor Investee (*1) Location 2019 2020 Shinhan Financial Group Co., Ltd. Shinhan Bank Korea December 31 100.0 100.0 ” Shinhan Card Co., Ltd. ” ” 100.0 100.0 ” Shinhan Investment Corp. ” ” 100.0 100.0 ” Shinhan Life Insurance Co., Ltd. ” ” 100.0 100.0 ” Orange Life Insurance Co., Ltd. (*2) ” ” 59.2 100.0 ” Shinhan Capital Co., Ltd. ” ” 100.0 100.0 ” Jeju Bank ” ” 75.3 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. 60.0 60.0 ” Shinhan AITAS Co., Ltd. ” ” 99.8 99.8 ” Shinhan REITs Management Co., Ltd. ” ” 100.0 100.0 ” Shinhan AI Co., Ltd. ” ” 100.0 100.0 ” Neoplux Co., Ltd. (*3) ” ” — 100.0 Shinhan Bank Shinhan Asia Limited (*4) Hong Kong ” 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 Date of financial Ownership (%) Investor Investee (*1) Location 2019 2020 ” 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 Bank Japan SBJDNX (*5) Japan ” — 100.0 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 Co.,Ltd Vietnam ” 100.0 100.0 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 Life Insurance Co., Ltd. Shinhan Financial Plus (*5) Korea ” — 100.0 Shinhan BNP Paribas Asset Management Co., Ltd. Shinhan BNP ASSET MGT HK Ltd. Hong Kong ” 100.0 100.0 Shinhan DS SHINHAN DS VIETNAM CO., LTD. Vietnam ” 100.0 100.0 (*1) Subsidiaries such as trust, beneficiary certificate, corporate restructuring fund and private equity fund which are not actually operating their own business are excluded. (*2) The Group acquired additional shares of Orange Life Insurance Co., Ltd. for the year ended December 31, 2020, and Orange Life Insurance Co., Ltd. became a wholly owned subsidiary of the Group. (*3) The Group acquired a 96.77% stake in Neoplux.Co., Ltd. for the year ended December 31, 2020. The entity became a wholly owned subsidiary as the Group acquired residual shares additionally. (*4) As of December 31, 2020, liquidation procedure has been completed. (*5) Newly invested subsidiaries subject to consolidation are included for the year ended December 31, 2020. |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of significant accounting policies [Abstract] | |
Property and equipment, estimated useful lives | Descriptions Useful lives Buildings 40~50 years Other properties 4~5 years Depreciation methods, useful lives and residual values are reassessed at each fiscal year-end |
Intangible assets, estimated useful lives | Descriptions Useful lives Software 5 years Capitalized development cost 5 years Other intangible assets 5 years or contract periods |
Investment property, estimated useful lives | The depreciation method and the estimated useful lives for the current and comparative periods are as follows: Descriptions Depreciation method Useful lives Buildings Straight-line 40 years |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of financial risk management [Abstract] | |
Reflection of forward-looking information | ① Upside scenario 2021 Major variables (*1) Correlation 2020.4Q (*2) 1Q 2Q 3Q 4Q GDP growth rate(YoY %) (- ) (2.8 ) 0.0 3.9 3.0 4.3 Private consumption index(YoY %) (- ) (4.8 ) 3.0 2.3 3.5 4.1 Facility investment growth rate(YoY %) (- ) 3.5 5.5 6.5 1.5 5.0 Consumer price index growth rate(%) (- ) 0.3 0.6 0.9 0.8 0.9 Balance on current account(billion dollars) (- ) 170.0 130.0 160.0 190.0 180.0 Government bond 3y yields(%) — 0.90 1.00 1.00 1.10 1.10 ② Central scenario 2021 Major variables (*1) Correlation 2020.4Q (*2) 1Q 2Q 3Q 4Q GDP growth rate(YoY %) (- ) (2.8 ) (0.7 ) 3.6 2.5 3.7 Private consumption index(YoY %) (- ) (4.8 ) 2.6 2.1 3.0 3.5 Facility investment growth rate(YoY %) (- ) 3.5 5.0 6.0 0.8 4.5 Consumer price index growth rate(%) (- ) 0.3 0.5 0.9 0.7 0.8 Balance on current account(billion dollars) (- ) 170.0 120.0 150.0 180.0 170.0 Government bond 3y yields(%) — 0.90 1.00 1.00 1.00 1.00 ③ Downside scenario 2021 Major variables (*1) Correlation 2020.4Q (*2) 1Q 2Q 3Q 4Q GDP growth rate(YoY %) (- ) (2.8 ) (1.5 ) 2.3 1.7 3.0 Private consumption index(YoY %) (- ) (4.8 ) 1.9 1.1 2.6 3.4 Facility investment growth rate(YoY %) (- ) 3.5 3.5 4.5 (1.0 ) 3.0 Consumer price index growth rate(%) (- ) 0.3 0.4 0.8 0.6 0.7 Balance on current account(billion dollars) (- ) 170.0 110.0 140.0 170.0 160.0 Government bond 3y yields(%) — 0.90 1.10 1.10 1.10 1.10 (*1) Shinhan Bank applied the private consumption index and facility investment growth rate as the major variables. In addition, Shinhan Card applied the GDP growth rate, consumer price index growth rate, balance on current account, and government bond 3y yields as the major variables. (*2) Considering the default forecast period, the Group reflected the future economic outlook. (*3) The macroeconomic outlook figures are estimated by the Group for the purpose of calculating expected credit losses based on information from domestic and foreign research institutes. Therefore, it could be different from other institutions’ estimates. The predicted correlations between the macroeconomic variables and the risk of default, used by the Group, are derived based on data from the past ten years. |
Sensitivity : Change amount for provisions | Sensitivity: Change amount for provisions (In millions of won) Upside(100%) Downside(100%) Shinhan Bank (3,332 ) 26,507 Forward-looking Shinhan Card (24,109 ) |
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, 2019 and 2020 is as follows: 2019 2020 Due from banks and loans at amortized cost (*1)(*3): Banks W 12,950,561 17,016,263 Retail 152,840,826 170,314,316 Government/Public sector/Central bank 19,461,567 24,778,332 Corporations 140,718,619 152,895,324 Card receivable 23,114,264 22,822,546 349,085,837 387,826,781 Due from banks and loans at fair value through profit or loss (*3): Banks 897,525 93,109 Corporations 2,154,821 1,986,804 3,052,346 2,079,913 Securities at fair value through profit or loss 48,512,857 55,275,031 Securities at fair value through other comprehensive income 58,573,094 57,409,433 Securities at amortized cost (*1) 45,582,065 47,282,623 Derivative assets 2,829,274 5,633,915 Other financial assets (*1)(*2) 17,477,778 20,341,191 Financial guarantee contracts 4,698,558 4,481,506 Loan commitments and other credit liabilities 177,660,547 187,067,821 W 707,472,356 767,398,214 (*1) The maximum exposure amounts for due from banks, loans, securities at amortized cost and other financial assets at amortized cost are recorded as net of allowances. (*2) Other financial assets mainly comprise of receivables, accrued income, secured key money deposits, prepayment, and domestic exchange settlement debit settled in a day. (*3) Classified as similar credit risk group based on calculation of the BIS ratio under new Basel Capital Accord (Basel III). |
Maximum amount of exposure to credit risk by type of collateral | iii) The maximum amount of exposure to credit risk by type of collateral as of December, 31, 2019 and 2020 is as follows: 2019 12 months Life time expected credit loss Total Classification Not impaired Impaired 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 Others 5,035,192 4,437 364 5,039,993 Total W 150,785,399 19,404,094 450,388 170,639,881 2020 12 months Life time expected credit loss Total Classification Not impaired Impaired Guarantee W 36,355,387 5,944,417 185,777 42,485,581 Deposits and Savings 1,258,934 313,723 1,509 1,574,166 Property and equipment 1,301,810 324,098 12,341 1,638,249 Real estate 109,092,694 13,914,172 311,946 123,318,812 Securities 2,181,874 108,718 88,025 2,378,617 Others 4,830,557 — 1,943 4,832,500 Total W 155,021,256 20,605,128 601,541 176,227,925 |
Impairment information by credit risk of financial assets | iv) Impairment information by credit risk of financial assets Details of impaired financial assets due to credit risk as of December 31, 2019 and 2020 are as follows: 2019 12-month Life time expected loss Total Allowances Net Mitigation of due to Grade 1 Grade 2 Grade 1 Grade 2 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/Public sector/Central bank 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 (*) 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 2020 12-month Life time expected loss Total Allowances Net Mitigation of due to Grade 1 Grade 2 Grade 1 Grade 2 Impaired Due from banks and loans at amortized cost: Banks W 14,935,722 1,996,948 87,084 10,027 — 17,029,781 (13,518 ) 17,016,263 29,994 Retail 152,159,976 8,385,069 6,062,587 3,686,863 574,354 170,868,849 (554,533 ) 170,314,316 91,711,254 Government/Public sector/Central bank 23,849,701 834,912 96,183 1,748 — 24,782,544 (4,212 ) 24,778,332 9,000 Corporations 93,740,349 34,637,533 11,391,410 13,758,332 982,037 154,509,661 (1,614,337 ) 152,895,324 83,580,715 Card receivable 16,995,332 2,304,536 1,754,723 2,197,877 454,451 23,706,919 (884,373 ) 22,822,546 6,845 301,681,080 48,158,998 19,391,987 19,654,847 2,010,842 390,897,754 (3,070,973 ) 387,826,781 175,337,808 Securities at fair value through other comprehensive income (*) 48,506,057 8,636,241 — 267,135 — 57,409,433 — 57,409,433 — Securities at amortized cost 45,888,769 1,404,340 — — — 47,293,109 (10,486 ) 47,282,623 — W 396,075,906 58,199,579 19,391,987 19,921,982 2,010,842 495,600,296 (3,081,459 ) 492,518,837 175,337,808 (*) Credit loss allowance recognized as other comprehensive income of securities at fair value through other comprehensive income amounted to W W |
Credit risk exposures per credit grade of off-balance items | v) Credit risk exposures per credit grade of off-balance Credit risk exposures per credit grade of off-balance 2019 Grade 1 Grade 2 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 2020 Grade 1 Grade 2 Impaired Total Financial guarantee: 12-month W 2,884,641 1,110,945 — 3,995,586 Life time expected credit loss 308,785 176,977 — 485,762 Impaired — — 158 158 3,193,426 1,287,922 158 4,481,506 Loan commitment and other credit line 12-month 156,787,448 20,715,236 — 177,502,684 Life time expected credit loss 6,738,016 2,822,003 — 9,560,019 Impaired — — 5,118 5,118 163,525,464 23,537,239 5,118 187,067,821 W 24,825,161 5,276 191,549,327 |
Credit quality of derivative assets | vi) Credit qualities are classified based on the internal credit rating as follows: Type of Borrower Grade 1 Grade 2 Individuals Probability of default below 2.25% for each pool Probability of default 2.25% or above for each pool Government/Public agency/Central bank OECD sovereign credit rating of 6 or above OECD sovereign credit rating of below 6 Banks and Corporations (Credit card bonds) Internal credit rating of BBB+ or above Internal credit rating of below BBB+ Card receivables (Individuals) Behavior scoring system of 7 grade or above Behavior scoring system of below 7 grade |
Concentration by geographic location | Credit quality of derivative assets as of December 31, 2019 and 2020 are as follows: 2019 2020 Grade 1 W 2,377,548 4,994,809 Grade 2 451,726 639,106 W 2,829,274 5,633,915 (*) Credit quality of derivative assets is classified based on the internal credit ratings. viii) Concentration by geographic location An analysis of concentration by geographic location for financial instrument, net of allowance, as of December 31, 2019 and 2020 are as follows: 2019 Korea USA UK 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 receivable 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 2020 Korea USA UK Japan Germany Vietnam China Other Total Due from banks and loans at amortized cost Banks W 6,990,520 823,698 156,002 784,538 316,293 1,166,397 2,889,115 3,889,700 17,016,263 Retail 161,434,788 392,499 6,724 4,124,680 2,386 1,780,361 1,329,067 1,243,811 170,314,316 Government 20,998,640 952,215 — 1,418,805 121,663 209,395 441,863 635,751 24,778,332 Corporations 133,827,181 3,278,234 435,135 3,796,824 103,647 2,319,327 3,039,177 6,095,799 152,895,324 Card receivable 22,614,285 8,867 351 1,983 194 152,141 27,926 16,799 22,822,546 345,865,414 5,455,513 598,212 10,126,830 544,183 5,627,621 7,727,148 11,881,860 387,826,781 Deposits and loans at FVTPL Bank 61,476 31,633 — — — — — — 93,109 Corporations 1,057,690 466,812 — 19,807 — 744 — 441,751 1,986,804 1,119,166 498,445 — 19,807 — 744 — 441,751 2,079,913 Securities measured at FVTPL 51,574,884 2,129,355 198,567 46,086 4,486 24,539 168,863 1,128,251 55,275,031 Securities at FVOCI 53,386,556 1,464,611 112,001 221,917 36,412 172,904 886,080 1,128,952 57,409,433 Securities at amortized cost 44,537,890 723,287 — 243,592 — 710,106 45,121 1,022,627 47,282,623 W 496,483,910 10,271,211 908,780 10,658,232 585,081 6,535,914 8,827,212 15,603,441 549,873,781 (*) The following accounts are the net carrying value less provision for doubtful accounts. |
Concentration by industry sector | ix) Concentration by industry sector An analysis of concentration by industry sector of financial instrument, net of allowance, as of and December 31, 2019 and 2020 is as follows: 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/Public sector/Central bank 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 2020 Finance and Manufacturing Retail and Real estate Construction Lodging and Other Retail Total Due from banks and loans at amortized cost: Banks W 16,656,030 — — — — — 360,233 — 17,016,263 Retail — — — — — — — 170,314,316 170,314,316 Government/Public sector/Central bank 24,671,308 — — 1,796 — — 105,228 — 24,778,332 Corporations 10,403,261 48,430,680 18,679,397 35,920,334 3,521,216 6,479,253 29,461,183 — 152,895,324 Card receivable 44,980 169,900 252,537 36,372 38,456 23,150 1,685,293 20,571,858 22,822,546 51,775,579 48,600,580 18,931,934 35,958,502 3,559,672 6,502,403 31,611,937 190,886,174 387,826,781 Due from banks and loans at FVTPL Banks 63,112 — — 29,997 — — — — 93,109 Corporations 1,114,789 641,554 19,210 51,008 3,000 — 157,243 — 1,986,804 1,177,901 641,554 19,210 81,005 3,000 — 157,243 — 2,079,913 Securities at fair value through profit or loss 34,294,362 2,978,991 1,223,958 574,547 248,399 46,177 15,908,597 — 55,275,031 Securities at fair value through other comprehensive income 26,528,743 3,448,765 577,781 830,988 974,333 22,643 25,026,180 — 57,409,433 Securities at amortized cost 10,361,913 21,750 — 1,053,779 963,348 — 34,881,833 — 47,282,623 W 124,138,498 55,691,640 20,752,883 38,498,821 5,748,752 6,571,223 107,585,790 190,886,174 549,873,781 (*) The composition details by industry are net book value less allowances. |
Market risk management from trading positions | i) Market risk management from trading positions i-1) Market risk is defined as the risk of loss of trading account position of financial institutions due to changes on market price, such as interest rates, exchange rates and stock prices, etc. and is divided into general market risks and individual risks. A general market risk refers to a loss from price variability caused by events affecting the market as a whole, such as interest rates, exchange rates and stock prices; and an individual risk refers to a loss from price variability related to individual events of securities issuer, such as bonds and stocks. i-2) The basic principle of market risk management in the trading sector is to maintain the maximum possible loss due to market risk within a certain level. To this end, the Group sets and operates VaR limits, investment limits, position limits, sensitivity limits, and loss limits from the portfolio to individual desks. These limits are managed daily by the department in charge of risk management, independent from the operating department. Trading positions refer to securities, foreign exchange positions, and derivative financial instruments held for the purpose of obtaining short-term trading gains. As a method of measuring market risk, VaR (Value at Risk) is typical, and it is a statistical measurement of the potential maximum loss that can occur due to changes in market conditions. VaR calculates the standard method market risk using the Group Market Risk Measurement System (TRMS), and Shinhan Bank and Shinhan Financial Investment use their own internal model market risk calculation system. Stress tests are conducted to supplement risk measurement by statistical methods and to manage losses that may arise from rapid changes in the economic environment. Shinhan Bank measures the market risk of linear products, such as stocks and bonds, as well as non-linear Shinhan Investment measures daily market risk by applying historical simulation VaR method of 99.9% confidence level-based VaR. Historical simulation VaR method does not require assumption on a particular distribution since the method derives scenarios directly from historical market data, and measures non-linear 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, 2019 and 2020 based on the standard guidelines for risk management promulgated by the Financial Supervisory Service, is as follows: 2019 Average Maximum Minimum December 31 Interest rate risk W 508,039 527,349 479,121 504,948 Stock price risk 191,019 210,589 162,595 210,589 Foreign exchange risk 143,317 151,779 138,543 139,562 Commodity risk 7,691 10,558 4,953 10,558 Option volatility risk 57,972 74,892 39,591 67,160 W 908,038 975,167 824,803 932,817 2020 Average Maximum Minimum December 31 Interest rate risk W 525,465 592,668 495,292 592,668 Stock price risk 222,277 240,535 202,036 222,544 Foreign exchange risk 120,088 124,915 113,497 113,497 Commodity risk 13,818 22,982 9,539 9,539 Option volatility risk 8,910 23,224 3,234 3,234 W 890,558 1,004,324 823,598 941,482 i-3) The analyses of the ten-day 2019 Average Maximum Minimum December 31 Interest rate risk W 21,208 32,430 12,709 28,313 Stock price risk 18,136 49,424 8,171 15,386 Foreign exchange risk (*) 24,727 29,085 22,259 25,910 Option volatility risk 161 325 60 212 Commodity risk 15 104 — 10 Portfolio diversification effect (21,879 ) W 47,925 81,553 31,482 47,952 2020 Average Maximum Minimum December 31 Interest rate risk W 41,165 56,950 28,322 42,867 Stock price risk 27,077 66,254 7,545 7,893 Foreign exchange risk (*) 65,309 83,335 27,668 69,024 Option volatility risk 305 1,073 114 138 Commodity risk 13 170 — 1 Portfolio diversification effect (25,310 ) W 106,030 154,487 49,486 94,613 (*) 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 2019, and 2020, based on the standard guidelines for risk management promulgated by the Financial Supervisory Service, are as follows: 2019 Average Maximum Minimum December 31 Interest rate risk W 1,417 2,000 1,000 2,000 2020 Average Maximum Minimum December 31 Interest rate risk W 2,034 2,400 1,900 2,400 (*) Foreign subsidiaries are excluded from the calculation. i-5) The analyses of the ten-day 2019 Average Maximum Minimum December 31 Interest rate risk W 13,725 20,857 5,671 11,946 Stock price risk 31,330 74,421 15,449 25,691 Foreign exchange risk 4,107 37,970 368 4,369 Option volatility risk 9,889 31,711 2,504 9,876 Portfolio diversification effect (15,150 ) W 38,262 85,597 5,780 36,732 2020 Average Maximum Minimum December 31 Interest rate risk W 20,512 30,903 12,076 23,551 Stock price risk 26,136 51,509 2,412 36,573 Foreign exchange risk 12,477 46,970 632 15,557 Option volatility risk 43,324 162,008 2,894 57,924 Portfolio diversification effect (38,397 ) W 75,226 187,985 18,648 95,208 i-6) The analyses of the ten-day 2019 Average Maximum Minimum December 31 Interest rate risk W 1,853 8,856 313 600 Stock price risk 5,015 6,520 4,374 4,978 Foreign exchange risk 1,581 3,434 3 2,050 Option volatility risk 316 632 124 472 W 8,765 19,442 4,814 8,100 2020 Average Maximum Minimum December 31 Interest rate risk W 2,967 6,934 354 619 Stock price risk 10,953 16,592 4,481 13,742 Foreign exchange risk 10,485 21,588 4,665 13,669 Option volatility risk 433 1,096 40 1,089 W 24,838 46,210 9,540 29,119 i-7) The analyses of the ten-day 2019 Average Maximum Minimum December 31 Foreign exchange risk W 18,578 23,614 12,577 16,710 2020 Average Maximum Minimum December 31 Foreign exchange risk W 17,064 19,597 10,172 17,964 Option volatility risk 73 84 7 73 W 17,137 19,681 10,179 18,037 |
Interest rate risk management from non-trading positions | ii) Interest rate risk management from non-trading ii-1) Interest rate risk refers to the possibility of a decrease in net interest income or in net asset value that occurs when interest rates fluctuate unfavorably from the Group’s financial position. The Group manages net interest income or changes in net asset value that occur due to changes in interest rates by early predicting the factors of interest rate risk fluctuation related to the Group’s net interest income and net asset value through the interest rate risk management. ii-2) Shinhan Financial Group’s major financial subsidiaries manage interest rate risks independently by the risk management organization and the treasury department, and have internal regulations on interest rate risk management strategies, procedures, organization, measurement, and major assumptions. One of the key indicators of managing interest rate risk is the Earnings at Risk (EaR) from an earning perspective and the Value at Risk (VaR) from an economic value perspective. Interest rate VaR represents the maximum anticipated loss in a net present value calculation, whereas interest rate EaR represents the maximum anticipated loss in a net earnings calculation for the immediately following one-year The precision of risk management system differs by each subsidiary. Interest rate VaR and interest rate EaR are measured by internal method or IRRBB (Interest Rate Risk In The Banking Book), and interest rate risk limits are set and monitored based on the interest rate VaR. In accordance with the amendments in Regulations for Supervision of Financial Holding Companies, the Group measures the interest rate risk using the Basel III based IRRBB, which measures the interest rate risk more precisely than the existing BIS standard framework by segmenting maturities of interest rates, reflecting customer behaviour models and diversifying interest rate shocks. The interest rate VaR scenario based IRRBB measures ① parallel up shock ② parallel down shock ③ steepener shock ④ flattener shock ⑤ short rate up shock ⑥ short rate down shock. By the parallel up shock and parallel down shock, the interest rate VaR scenario measures the scenario value with the largest loss as interest rate risk. Under the existing BIS standard framework, ± 200bp parallel shock scenario is applied to all currency. However, as the shock width is set differently by currency and period, interest rate risk is measured significantly by the IRRBB. ((KRW) Parallel ± 300bp, Short Term ± 400bp, Long Term ± 200bp, (USD) Parallel ± 200bp, Short Term ± 300bp, Long Term ± 150bp) In the IRRBB method, the existing interest rate VaR and the interest rate EaR are expressed as D D Since impacts of each subsidiary on changes of interest rates are differentiated by portfolios, the Group is preparing to respond proactively while monitoring the financial market and regulatory environment, and making efforts to hedge or reduce interest rate risk. In addition, the subsidiaries conduct the crisis analysis on changes in market interest rates and report it to management and the Group. In particular, through its ALM (Asset and Liability Management) system, Shinhan Bank measures and manages its interest rate risk based on various analytical measures such as interest rate gap, duration gap and NPV (Net Present Value) and NII (Net Interest Income) simulations, and monitors on a monthly basis its interest rate VaR limits, interest rate EaR (Earnings at Risk) limits and interest rate gap ratio limits. The details of interest rate VaR and EaR for major subsidiaries for as of December 31, 2019 and 2020 are as follows: ii-3) 2019 2020 D W 369,944 468,327 D 161,385 115,221 ii-4) 2019 2020 D W 696,505 463,647 D 554,499 594,210 ii-5) 2019 2020 D W 77,436 209,929 D 127,476 89,925 ii-6) 2019 2020 D W 4,831,042 4,140,109 D 77,000 46,073 ii-7) 2019 2020 D W 2,800,603 2,007,029 D 46,372 38,733 (*1) D off-balance (*2) D |
Foreign currency denominated assets and liabilities | Foreign currency denominated assets and liabilities as of December 31, 2019 and 2020 are as follows: 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 2020 USD JPY EUR CNY Other Total Assets: Cash and due from banks at amortized cost W 4,729,453 1,988,215 402,137 798,053 3,053,388 10,971,246 Due from banks at FVTPL 31,633 — — — — 31,633 Loan receivables measured at FVTPL 745,277 19,807 91,503 — — 856,587 Loan at amortized cost 21,435,678 9,076,702 1,296,284 4,130,855 8,987,453 44,926,972 Securities at FVTPL 4,426,257 2,574 455,769 — 316,468 5,201,068 Derivative assets 913,778 21,531 50,842 1,100 114,055 1,101,306 Securities at FVOCI 3,868,880 149,718 222,547 460,681 1,000,855 5,702,681 Securities at amortized cost 1,273,204 240,619 69,132 45,151 1,588,358 3,216,464 Other financial assets 2,180,140 284,695 177,538 336,325 559,805 3,538,503 W 39,604,300 11,783,861 2,765,752 5,772,165 15,620,382 75,546,460 Liabilities: Deposits W 17,542,371 10,136,700 991,501 4,650,406 8,438,144 41,759,122 Financial liabilities at FVTPL — — — — 544,916 544,916 Derivative liabilities 558,064 10,819 33,940 858 105,134 708,815 Borrowings 8,431,144 810,819 306,829 163,454 692,305 10,404,551 Debt securities issued 8,417,214 87,504 933,570 — 1,652,835 11,091,123 Financial liabilities designated at FVTPL 1,068,245 — — — — 1,068,245 Other financial liabilities 3,479,117 123,510 250,428 564,623 843,635 5,261,313 W 39,496,155 11,169,352 2,516,268 5,379,341 12,276,969 70,838,085 Net assets W 108,145 614,509 249,484 392,824 3,343,413 4,708,375 Off-balance 438,469 (166,923 ) 187,408 44,764 (896,933 ) (393,215 ) Net position W 546,614 447,586 436,892 437,588 2,446,480 4,315,160 |
Composition of non-derivative financial instruments and derivative financial instruments by remaining period | The details of the composition of non-derivative 2019 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 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 (*4): 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: Derivatives W 407,885 9,640 34,228 18,196 160,292 176,976 807,217 2020 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 30,486,441 845,977 501,733 860,975 4,467 516,661 33,216,254 Due from banks at fair value through profit or loss 63,113 — — — — — 63,113 Loans at fair value through profit or loss 31,100 689,261 46,369 117,820 310,954 880,595 2,076,099 Loans at amortized cost 30,170,280 38,040,760 52,331,623 82,840,301 119,243,663 69,258,709 391,885,336 Securities at fair value through profit or loss 44,779,587 1,413,545 571,552 1,160,406 3,384,948 4,729,943 56,039,981 Securities at fair value through other comprehensive income 55,002,284 10,740 207 414 79,640 3,321,488 58,414,773 Securities at amortized cost 385,809 2,070,392 1,202,211 3,649,376 19,054,766 34,889,104 61,251,658 Other financial assets 15,451,455 102,714 138,116 287,473 231,608 1,571,561 17,782,927 W 176,370,069 43,173,389 54,791,811 88,916,765 142,310,046 115,168,061 620,730,141 Liabilities: Deposits (*2) W 187,299,944 28,357,521 36,578,825 59,863,780 14,894,480 2,355,459 329,350,009 Financial liabilities at fair value through profit or loss 1,409,608 794 7,042 2,785 18,870 — 1,439,099 Borrowings 14,670,192 3,783,621 2,920,338 5,463,070 10,692,374 4,392,815 41,922,410 Debt securities issued 5,872,508 6,261,775 5,039,503 11,457,246 43,712,609 6,454,265 78,797,906 Financial liabilities designated at fair value through profit or loss 596,675 221,857 336,784 1,277,802 5,043,549 979,057 8,455,724 Other financial liabilities 29,128,836 97,138 151,655 542,221 643,043 75,813 30,638,706 W 238,977,763 38,722,706 45,034,147 78,606,904 75,004,925 14,257,409 490,603,854 Off balance (*4): Finance guarantee contracts W 4,481,506 — — — — — 4,481,506 Loan commitments and other 187,536,416 — — 19,900 — — 187,556,316 W 192,017,922 — — 19,900 — — 192,037,822 Derivatives: Derivatives W 419,951 29,829 75,483 149,274 103,770 101,072 879,379 (*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 instruments held for trading measured at market price are included in the ‘Less than 1 month’ category. (*4) Financial guarantees such as financial guarantee contracts and loan commitments and other credit contributions 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, 2019 and 2020 are as follows: 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/silver deposits 111,715 — — 111,715 7,306,590 33,340,978 9,463,229 50,110,797 Derivative assets: Trading 35,711 2,088,307 462,050 2,586,068 Hedging — 240,430 2,776 243,206 35,711 2,328,737 464,826 2,829,274 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 17,075,811 41,645,124 660,118 59,381,053 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/silver deposits 467,760 — — 467,760 1,632,457 — — 1,632,457 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 46,854 1,947,188 308,970 2,303,012 W 1,679,311 2,845,155 8,820,459 13,344,925 2020 Level 1 Level 2 Level 3 (*3) Total Financial assets Due from banks measured at FVTPL W — — 63,112 63,112 Loan receivables measured at FVTPL (*1) — 708,111 1,308,690 2,016,801 Financial assets at FVTPL: Debt securities and other securities (*2) 7,029,453 39,335,739 8,721,500 55,086,692 Equity securities 693,816 210,230 832,413 1,736,459 Gold/silver deposits 188,339 — — 188,339 7,911,608 39,545,969 9,553,913 57,011,490 Derivative assets: Trading 125,339 4,623,218 408,855 5,157,412 Hedging — 475,708 795 476,503 125,339 5,098,926 409,650 5,633,915 Securities measured at FVOCI: Debt securities 17,515,390 39,861,238 32,805 57,409,433 Equity securities 172,403 49,673 684,603 906,679 17,687,793 39,910,911 717,408 58,316,112 W 25,724,740 85,263,917 12,052,773 123,041,430 Financial liabilities: Financial liabilities measured at FVTPL: Securities sold W 897,129 — — 897,129 Gold/silver deposits 539,565 — — 539,565 1,436,694 — — 1,436,694 Financial liabilities designated at fair value through profit or loss: Derivatives-combined securities (*2) — 314,220 8,141,504 8,455,724 Derivative liabilities: Trading 161,628 4,431,080 87,356 4,680,064 Hedging — 233,684 102,819 336,503 161,628 4,664,764 190,175 5,016,567 W 1,598,322 4,978,984 8,331,679 14,908,985 (*1) Of the Financial assets at FVTPL invested by the Group, P-note’s W (*2) Financial instruments (Beneficiary certificates: W W (*3) The valuation amount for the over-the-counter W W W W over-the-counter |
Changes in carrying values of financial instruments classified as Level 3 | Changes in carrying values of financial instruments classified as Level 3 for the years ended December 31, 2019 and 2020 are as follows: 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 707,891 — — — Ending balance W 11,762,259 660,118 (8,511,489 ) 155,856 2020 Financial Securities Financial Derivative Beginning balance W 11,762,259 660,118 (8,511,489 ) 155,856 Recognized in total comprehensive income for the year: Recognized in profit (loss) for the year (*1) (59,931 ) (2,094 ) (196,743 ) 136,386 Recognized in other comprehensive income (loss) for the year 69,819 (2,521 ) (9,689 ) — 9,888 (4,615 ) (206,432 ) 136,386 Purchase 4,461,802 61,919 — 1,171 Issue — — (9,043,503 ) — Settlement (5,231,666 ) (14 ) 9,928,472 (74,584 ) Reclassification (*3) (377,641 ) — — — Transfer to level3 (*2) 358,123 — (308,552 ) 625 Transfer from level3 (*2) (57,513 ) — — 21 Business combination (Note 47) 463 — — — Ending balance W 10,925,715 717,408 (8,141,504 ) 219,475 (*1) Recognized profit or loss of the changes in carrying value of financial instruments classified as Level 3 for the years ended December 31, 2019 and 2020 are included in the accounts of the statements of comprehensive income, of which the amounts and the related accounts are as follows: 2019 Amounts recognized 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 (loss) on financial liabilities designated at fair value through profit or loss (826,594 ) (66,113 ) Net gain (loss) 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 2020 Amounts recognized Recognized profit or loss from Net gain (loss) on financial assets at fair value through profit or loss W (8,304 ) (180,419 ) Net gain (loss) on financial liabilities designated at fair value through profit or loss (196,743 ) 189,885 Net gain (loss) on securities at fair value through other comprehensive income (2,094 ) (2,094 ) Other operating expenses 84,759 19,495 W (122,382 ) 26,867 (*2) The investment securities transferred to Level 3 as the availability of observable market data changed due to reasons such as suspension of trading, and the derivative instruments transferred to Level 3 as the availability of observable market data changed due to reasons such as changes in the valuation. (*3) It has been replaced by investment assets in associates. |
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, 2019 and 2020 are as follows: 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 etc. Equity securities NAV 195,395 Price of underlying assets such as stocks, bonds 34,094,294 Derivative assets Trading Option model, 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 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 model, 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 2020 Type of financial instrument Valuation Carrying Significant inputs Assets Financial asset at fair value through profit or loss Debt securities DCF W 40,043,850 Discount rate, interest rate, stock price, and etc. Equity securities NAV 210,230 Price of underlying assets such as stocks, bonds, etc. 40,254,080 Derivative assets Trading Option model, DCF 4,623,218 Discount rate, foreign exchange rate, volatility, stock price, and commodity index, etc. Hedging 475,708 5,098,926 Securities at fair value through other comprehensive income Debt securities DCF 39,861,238 Interest rate, discount rate and price of underlying assets such as stock, bonds, etc. Equity securities NAV 49,673 39,910,911 W 85,263,917 Liabilities Financial liabilities designated at fair value through profit or loss Complex financial instruments DCF W 314,220 Discount rate Derivative liabilities Trading Option model, DCF 4,431,080 Discount rate, foreign exchange rate, volatility, stock price, and commodity index, etc. Hedging 233,684 4,664,764 W 4,978,984 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, 2019 and 2020 are as follows: 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, Option W 11,250,428 The volatility of the underlying asset, and Discount rate 0.00%~46.36% 1.14%~30.70% Equity securities DCF, NAV 511,831 The volatility of the underlying asset, Correlations, and 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 model (*1) 145,011 The volatility of the underlying asset, and Correlations 1.51%~56.00% -42.00%~82.00% Interest rates related Option model (*1) 30,983 The volatility of the underlying asset, Regression coefficient, and Correlations 0.50%~0.67% 1.30%~1.57% 59.53% Credit and commodity related Option model (*1) 288,832 The volatility of the underlying asset, and 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, and 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 model (*1) W 8,511,489 The volatility of the underlying asset, and Correlations 0.00%~140.00% -46.00%~93.00% Derivative liabilities Equity and foreign exchange related Option model (*1) 30,412 The volatility of the underlying asset, and Correlations 0.00%~140.00% 0.00%~78.00% Interest rates related Option model (*1) 213,170 The volatility of the underlying asset Regression coefficient, and Correlations 0.00%~55.00% 1.30%~2.77% 45.06%~90.34% Credit and commodity related Option model (*1) 65,388 The volatility of the underlying asset, and Correlations 0.00%~109.00% -46.00%~93.00% 308,970 W 8,820,459 (*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. 2020 Type of financial instrument Valuation Carrying Significant unobservable inputs Range Financial assets Financial asset at fair value through profit or loss Debt securities DCF, Option model (*1), Comparable company analysis W 10,093,302 The volatility of the underlying asset, Discount rate, and Correlations 5.06%~61.32% 0.35%~27.17% 0.00%~100.0% Equity securities DCF, NAV, Option model (*1), Comparable company analysis 832,413 The volatility of the underlying asset, Discount rate, and Correlations 21.00%~40.00% 5.83%~16.87% 20.00%~79.00% 10,925,715 Derivative assets Equity and foreign exchange related Option model (*1) 113,496 The volatility of the underlying asset, and Correlations 4.30%~127.00% -3.00%~82.00% Interest rates related Option model (*1) 23,112 The volatility of the underlying asset, Regression coefficient, and Correlations 0.47%~1.00% 0.30%~0.58% 26.00%~90.45% Credit and commodity related Option model (*1) 273,042 The volatility of the underlying asset, and Correlations 1.00%~40.00% -43.00%~92.00% 409,650 Securities at fair value through other comprehensive income Debt securities DCF, NAV, Option model (*1), Comparable company analysis 32,805 The volatility of the underlying asset, Discount rate, and Growth rate 22.11% 0.05%~19.05% 0.00%~2.00% Equity securities 684,603 717,408 W 12,052,773 Financial liabilities Financial liabilities at fair value through profit or loss Equity related Option model (*1) W 8,141,504 The volatility of the underlying asset, and Correlations 1.00%~127.00% -43.00%~92.00% Derivative liabilities Equity and foreign exchange related Option model (*1) 25,525 The volatility of the underlying asset, and Correlations 4.30%~61.00% -3.00%~82.00% Interest rates related Option model (*1) 134,759 The volatility of the underlying asset, Regression coefficient, and Correlations 0.47%~40.00% 0.30%~0.63% 20.13%~90.34% Credit and commodity related Option model (*1) 29,891 The volatility of the underlying asset, and Correlations 1.00%~102.00% -43.00%~92.00% 190,175 W 8,331,679 (*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 for changing in unobservable inputs | i-4) Sensitivity for changing in unobservable inputs 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, 2019 and 2020. 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 ) 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 ) 2020 Favorable Unfavorable Financial assets: Effects on profit or loss for the period (*1): Financial asset at fair value through profit or loss W 53,821 (48,547 ) Derivative assets 23,011 (21,532 ) Securities at fair value through other comprehensive income (*2) 26,817 (21,044 ) W 103,649 (91,123 ) Financial liabilities: Effects on profit or loss for the period (*1): Financial liabilities designated at fair value through profit or loss W 72,042 (71,690 ) Derivative liabilities 17,976 (18,368 ) W 90,018 (90,058 ) (*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 of the borrower. 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. Other financial assets and other financial liabilities The carrying amounts are measured at fair value for short-term and suspense accounts, such as spot exchange, inter-bank fund transfer, and domestic exchange of payments, and for the remaining financial instruments, the present value is calculated by discounting the contractual cash flows at a discount rate which considered residual risk at the market interest rate. |
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, 2019 and 2020 are as follows: 2019 2020 Carrying value Fair value Carrying value Fair value Assets: Deposits measured at amortized cost W 25,840,858 25,852,497 31,605,262 31,607,122 Loans measured at amortized cost Retails 134,510,282 135,620,862 146,843,366 147,634,589 Corporations 159,560,873 160,818,205 177,046,416 178,420,230 Public and other funding loans 3,427,855 3,446,485 4,021,926 4,048,167 Loans between banks 2,629,999 2,644,603 5,487,147 5,495,236 Credit card 23,115,970 23,489,180 22,822,664 23,220,987 323,244,979 326,019,335 356,221,519 358,819,209 Securities measured at amortized cost Government bonds 30,385,084 32,242,339 31,816,320 33,391,597 Financial institution bonds 4,770,204 4,882,081 3,835,577 3,987,172 Corporation bonds 10,426,777 10,878,059 11,630,726 12,075,175 45,582,065 48,002,479 47,282,623 49,453,944 Other financial assets 17,477,778 17,493,331 20,341,191 20,359,778 W 412,145,680 417,367,642 455,450,595 460,240,053 Liabilities: Deposit liabilities: Demand deposits W 116,282,707 116,282,707 148,725,197 148,725,197 Time deposits 158,427,447 158,478,949 157,833,891 157,936,969 Certificate of deposit 9,707,791 9,714,806 5,946,704 5,965,139 Issued bill deposit 4,579,587 4,579,425 6,226,937 6,226,855 CMA deposits 3,987,372 3,987,372 4,006,319 4,006,319 Other 1,889,352 1,889,700 3,677,820 3,678,316 294,874,256 294,932,959 326,416,868 326,538,795 Borrowing debts: Call-money 712,247 712,247 1,760,042 1,760,042 Bills sold 19,070 19,035 10,706 10,696 Bonds sold under repurchase agreements 9,089,736 9,089,736 11,065,584 11,065,584 Borrowings 25,042,103 25,205,292 28,757,732 28,863,015 34,863,156 35,026,310 41,594,064 41,699,337 Debts: Borrowings in Korean won 64,717,212 65,322,413 64,083,920 64,842,258 Borrowings in foreign currency 10,646,152 10,783,027 11,050,474 11,262,332 75,363,364 76,105,440 75,134,394 76,104,590 Other financial liabilities 28,231,911 27,949,306 34,129,626 34,136,128 W 433,332,687 434,014,015 477,274,952 478,478,850 |
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, 2019 and 2020 are as follows: 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 23,489,180 108 960,827 325,058,400 326,019,335 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 22,777,304 25,139,116 86,059 48,002,479 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 2,801,472 119,203,708 172,927,779 294,932,959 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 6,908,162 538,247 27,579,901 35,026,310 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 — 51,282,618 24,822,822 76,105,440 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 2020 Level 1 Level 2 Level 3 Total Assets: Deposits measured at amortized cost W 779,759 29,957,444 869,919 31,607,122 Loans measured at amortized cost Retails — — 147,634,589 147,634,589 Corporations — — 178,420,230 178,420,230 Public and other funding loans — — 4,048,167 4,048,167 Loans between banks — 2,187,270 3,307,966 5,495,236 Credit card — — 23,220,987 23,220,987 — 2,187,270 356,631,939 358,819,209 Securities measured at amortized cost: Government bonds 22,130,487 11,261,110 — 33,391,597 Financial institution bonds 1,070,220 2,916,952 — 3,987,172 Debentures — 11,994,724 80,451 12,075,175 23,200,707 26,172,786 80,451 49,453,944 Other financial assets — 8,661,345 11,698,433 20,359,778 W 23,980,466 66,978,845 369,280,742 460,240,053 Liabilities: Deposit liabilities: Demand deposits W — 148,725,197 — 148,725,197 Time deposits — — 157,936,969 157,936,969 Certificate of deposit — — 5,965,139 5,965,139 Issued bill deposit — — 6,226,855 6,226,855 CMA deposits — 4,006,319 — 4,006,319 Other — 3,534,696 143,620 3,678,316 — 156,266,212 170,272,583 326,538,795 Borrowing debts: Call-money — 1,760,042 — 1,760,042 Bills sold — — 10,696 10,696 Bonds sold under repurchase agreements 95,400 — 10,970,184 11,065,584 Borrowings — 8,500 28,854,515 28,863,015 95,400 1,768,542 39,835,395 41,699,337 Debts: Borrowings in won — 35,740,750 29,101,508 64,842,258 Borrowings in foreign currency — 7,944,242 3,318,090 11,262,332 — 43,684,992 32,419,598 76,104,590 Other financial liabilities — 10,383,020 23,753,108 34,136,128 W 95,400 212,102,766 266,280,684 478,478,850 |
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value | ii-4) Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value, as at December 31, 2019 and 2020, are as follows: 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 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 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 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 W 423,777,696 2020 Fair value (*) Valuation Inputs Financial instruments classified as level 2: Assets Due from banks measured at amortized cost W 29,957,444 DCF Discount rate Loans measured at amortized cost 2,187,270 DCF Discount rate, credit spread, prepayment rate Securities measured at amortized cost 26,172,786 DCF Discount rate Other financial assets 8,661,345 DCF Discount rate Financial instruments classified as level 3: Assets Due from banks measured at amortized cost 869,919 DCF Discount rate Loans measured at amortized cost 356,631,939 DCF Discount rate, credit spread, prepayment rate Securities measured at amortized cost 80,451 DCF Discount rate Other financial assets 11,698,433 DCF Discount rate W 436,259,587 Financial instruments classified as level 2: Liabilities Deposits W 156,266,212 DCF Discount rate Borrowings 1,768,542 DCF Discount rate Debt securities issued 43,684,992 DCF Discount rate Other financial liabilities 10,383,020 DCF Discount rate Financial instruments classified as level 3: Liabilities Deposits 170,272,583 DCF Discount rate Borrowings 39,835,395 DCF Discount rate Debt securities issued 32,419,598 DCF Discount rate, regression coefficient, correlation coefficient Other financial liabilities 23,753,108 DCF Discount rate W 478,383,450 (*) Valuation techniques and inputs are not disclosed when the carrying amount is a reasonable approximation of fair value |
Changes in gains or losses on valuation at the transaction | iii) Changes in gains or losses on valuation at the transaction date for the years ended December 31, 2019 and 2020, are as follows: 2019 2020 Beginning balance W (126,111 ) (172,859 ) New transactions (178,223 ) (347,030 ) Recognized in profit for the year 131,475 227,290 Ending balance W (172,859 ) (292,599 ) |
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, 2019 and 2020 are as follows: 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 55,749,211 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 3,633,461 9,409,456 433,332,687 302,008 446,677,612 2020 FVTPL FVOCI Amortized cost Derivatives Total Assets: Cash and due from banks at amortized cost W — — 33,410,542 — 33,410,542 Due from banks at fair value through profit or loss 63,112 — — — 63,112 Securities at fair value through profit or loss 57,011,490 — — — 57,011,490 Derivatives assets 5,157,412 — — 476,503 5,633,915 Loans at fair value through profit or loss 2,016,801 — — — 2,016,801 Loans at amortized cost — — 356,221,519 — 356,221,519 Securities at fair value through other comprehensive income — 58,316,112 — — 58,316,112 Securities at amortized cost — — 47,282,623 — 47,282,623 Others — — 20,341,191 — 20,341,191 W 58,316,112 457,255,875 476,503 580,297,305 2020 FVTPL FVTPL Financial Derivatives Total Liabilities: Deposits W — — 326,416,868 — 326,416,868 Financial liabilities at fair value through profit or loss 1,436,694 — — — 1,436,694 Financial liabilities designated at FVTPL — 8,455,724 — — 8,455,724 Derivatives liabilities 4,680,064 — — 336,503 5,016,567 Borrowings — — 41,594,064 — 41,594,064 Debt securities issued — — 75,134,394 — 75,134,394 Others — — 34,129,626 — 34,129,626 W 8,455,724 477,274,952 336,503 492,183,937 |
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 under repurchase agreement at a fixed price as of December 31, 2019 and 2020: 2019 2020 Transferred asset: Securities at FVTPL W 7,924,953 8,915,488 Securities at FVOCI 1,867,470 1,638,651 Securities at amortized cost 818,470 205,639 W 10,610,893 10,759,778 Associated liabilities: Bonds sold under repurchase agreements W 8,717,336 11,075,004 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. Therefore, the Group continues to recognize the entire securities loaned as it holds most of the risks and compensation of the securities. Securities loaned as of December 31, 2019 and 2020 are as follows: 2019 2020 Borrowers Government bonds W 3,951,869 3,213,719 Korea Securities Finance Corp., Korea Securities Depository Financial institutions bonds 460,052 220,324 Korea Securities Finance Corp., Korea Securities Depository Equity securities 30,242 99,670 Korea Securities Finance Corp. W 3,533,713 |
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, 2019 and 2020 are as follows: 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 Securities repurchased under repurchase agreements and 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 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 2020 Gross amounts of Gross amounts of Net amounts of Related amounts not set off in Net amount Financial Cash collateral Assets: Derivatives (*1) W 5,361,225 — 5,361,225 4,448,496 314,328 12,129,369 Other financial instruments (*1) 18,033,663 6,502,695 11,530,968 Securities repurchased under repurchase agreements and bonds purchased under repurchase agreements (*2) 13,694,305 — 13,694,305 13,185,633 — 508,672 Securities loaned (*2) 1,202,494 — 1,202,494 1,202,494 — — Domestic exchange settlement debit (*3) 29,911,693 25,785,507 4,126,186 116,290 — 4,009,896 Receivables from disposal of securities (*4) 29,341 3,140 26,201 — — 26,201 Insurance receivables 8,374 — 8,374 5,526 — 2,848 W 68,241,095 32,291,342 35,949,753 18,958,439 314,328 16,676,986 Liabilities: Derivatives (*1) W 13,153,952 — 13,153,952 5,490,974 1,000 18,500,005 Other financial instruments (*1) 17,340,722 6,502,695 10,838,027 Bonds purchased under repurchase agreements (*2) 11,065,584 — 11,065,584 10,260,684 — 804,900 Securities borrowed (*2) 897,129 — 897,129 897,129 — — Domestic exchange settlement pending (*3) 31,605,249 25,785,507 5,819,742 4,099,248 — 1,720,494 Payable from purchase of securities (*4) 3,148 3,140 8 8 — — Insurance payables 5,742 — 5,742 5,526 — 216 W 74,071,526 32,291,342 41,780,184 20,753,569 1,000 21,025,615 (*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. At the time of termination, the parties to the transaction will offset the amount of payment or payment to each other, and one party will pay the other party a single amount will be paid to the other party. (*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) It is an account that deals with bonds and liabilities based on the settlement of listed stocks traded in the market. The Group currently has a legally enforceable right to set off the recognized amounts and intends to settle on a net basis. Therefore, the net amount is presented in the consolidated statement of financial position. The offset amount of related bonds and liabilities based on the settlement of over-the-counter in-house (*5) As of December 31, 2019, the total amount of financial liabilities includes W W W W W |
The capital ratio of the Group based on Basel III | The capital ratio of the Group based on Basel III is as of December 31, 2019 and 2020 are as follows: 2019 2020 Capital: Tier I common equity capital W 28,561,568 32,461,864 Additional tier 1 capital 3,138,262 3,805,372 Tier I capital 31,699,830 36,267,236 Tier II capital 4,014,740 3,441,841 Total capital (A) W 35,714,570 39,709,077 Total risk-weighted assets (B) W 256,891,664 252,321,426 Capital adequacy ratio (A/B) 13.90 % 15.74 % Tier I capital adequacy ratio 12.34 % 14.37 % Common stock ratio 11.12 % 12.87 % (*) As of December 31, 2020, the Group has maintained an appropriate consolidated equity capital ratio according to the BIS equity capital regulation. |
Investment in subsidiaries (Tab
Investment in subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2019 and 2020 is as follows: 2019 2020 Investees(*1)(*2) Asset balance Liability balance Equity balance Asset balance Liability balance Equity balance Shinhan Financial Group (separate) W 32,261,322 9,795,896 22,465,426 35,483,914 10,426,817 25,057,097 Shinhan Bank 392,723,044 366,629,929 26,093,115 427,675,103 400,009,589 27,665,514 Shinhan Card Co., Ltd. 32,917,910 26,769,044 6,148,866 34,885,223 28,465,675 6,419,548 Shinhan Investment Corp. 37,375,487 33,138,930 4,236,557 46,632,433 42,258,341 4,374,092 Shinhan Life Insurance Co., Ltd. 34,133,649 32,062,490 2,071,159 36,777,496 34,232,052 2,545,444 Orange Life Insurance Co., Ltd. 32,841,359 29,654,711 3,186,648 33,813,587 30,574,073 3,239,514 Shinhan Capital Co., Ltd. 7,566,428 6,612,519 953,909 8,901,349 7,710,010 1,191,339 Jeju Bank 6,192,927 5,695,223 497,704 6,531,838 6,022,397 509,441 Shinhan Credit Information Co., Ltd. 25,292 10,044 15,248 27,806 10,826 16,980 Shinhan Alternative Investment Management Inc. 87,694 75,665 12,029 87,053 71,591 15,462 Shinhan BNP Paribas Asset Management Co., Ltd. 184,203 19,678 164,525 191,127 20,530 170,597 SHC Management Co., Ltd. 9,639 — 9,639 9,644 — 9,644 Shinhan DS 89,141 67,954 21,187 95,150 70,916 24,234 Shinhan Savings Bank 1,602,902 1,418,317 184,585 1,842,231 1,635,433 206,798 Asia Trust Co., Ltd. 172,793 43,933 128,860 259,899 85,274 174,625 Shinhan AITAS Co., Ltd. 77,086 10,962 66,124 87,378 12,159 75,219 Shinhan REITs Management Co., Ltd. 45,832 5,619 40,213 52,555 8,582 43,973 Shinhan AI Co., Ltd. 42,402 1,674 40,728 42,903 1,890 41,013 Neoplux Co., Ltd. — — — 72,550 12,697 59,853 (*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, 2018, 2019 and 2020 is as follows: 2018 2019 2020 Investees(*1)(*2) Operating Income Net Income Comprehensive Operating Income Net Income Comprehensive Operating Income Net Income Comprehensive Shinhan Financial Group (separate) W 1,519,197 1,234,883 1,234,044 1,480,030 1,129,173 1,127,202 1,718,407 1,274,443 1,274,892 Shinhan Bank 19,731,711 2,279,362 2,333,266 23,145,476 2,329,268 2,527,665 25,049,392 2,078,232 1,911,575 Shinhan Card Co., Ltd. 3,752,232 517,761 477,135 3,892,257 509,032 486,114 4,091,178 606,554 599,451 Shinhan Investment Corp. 5,279,567 251,268 269,058 6,139,926 220,764 225,963 9,290,965 154,531 147,210 Shinhan Life Insurance Co., Ltd. 5,633,679 131,021 150,997 5,413,175 123,870 326,783 5,405,933 177,834 227,596 Orange Life Insurance Co., Ltd. (*3) — — — 4,662,085 271,455 433,510 4,456,340 279,282 132,425 Shinhan Capital Co., Ltd. 439,031 103,400 100,317 455,246 126,050 123,032 626,455 160,583 162,134 Jeju Bank 224,766 27,446 30,579 239,732 27,934 30,519 214,615 17,521 16,557 Shinhan Credit Information Co., Ltd. 37,616 1,392 985 38,648 507 658 42,658 1,493 1,650 Shinhan Alternative Investment Management Inc. 21,590 (780 ) (780 ) 32,401 2,144 2,144 17,219 3,433 3,433 Shinhan BNP Paribas Asset Management Co., Ltd. 78,378 18,868 18,980 84,256 23,090 22,655 88,870 26,663 26,663 SHC Management Co., Ltd. 140 309 309 154 82 82 70 5 5 Shinhan DS 99,279 1,314 1,525 138,697 2,074 1,292 164,327 1,862 2,845 Shinhan Savings Bank 94,636 19,384 18,919 116,849 23,122 22,972 123,590 26,953 26,888 Asia Trust Co., Ltd. (*3) — — — 54,920 18,098 18,128 102,816 45,791 45,765 Shinhan AITAS Co., Ltd. 44,729 8,461 8,461 51,823 10,821 10,821 58,599 13,020 12,954 Shinhan REITs Management Co., Ltd. 7,386 3,564 3,552 7,342 7,414 7,411 12,176 3,764 3,764 Shinhan AI Co., Ltd. — — — 3,088 (654 ) (654 ) 10,246 304 284 Neoplux Co., Ltd. (*3) — — — — — — 3,500 (1,146 ) (1,015 ) (*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) For the acquired company, the amount is from the consolidated statements of comprehensive income for the period after the acquisition point. |
Operating segments (Tables)
Operating segments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of operating segments [Abstract] | |
Information of income and expense for each operating segment | (a) Segment information The general descriptions by operating segments as of December 31, 2020 are as follows: Segment Description Banking Credit to customers, lending to and receiving deposits from customers, and their accompanying work Credit card Sales of credit cards, cash services, card loan services and their accompanying work Securities Securities trading, consignment trading, underwriting and their accompanying work Life insurance Life insurance business and its accompanying work Others Business segments that do not belong to the above segments, such as leasing, rental, collection of bonds, assets management and other remaining business (b) The following tables provide information of income and expense for each operating segment for the years ended December 31, 2018, 2019 and 2020: 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 (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 2020 Banking Credit card Securities Life Others Consolidation Total Net interest income W 6,037,632 1,755,039 517,044 1,608,953 166,622 (202,590 ) 9,882,700 Net fees and commission income 822,408 483,486 544,183 162,284 368,350 2,222 2,382,933 Reversal of (provision for) allowance for credit loss (“ACL”) (690,084 ) (483,883 ) (111,796 ) (12,236 ) (85,951 ) 1,771 (1,382,179 ) General and administrative expenses (3,237,641 ) (698,796 ) (565,485 ) (463,439 ) (372,591 ) 125,479 (5,212,473 ) Other income (expense), net (130,488 ) (169,304 ) (11,348 ) (727,530 ) 260,873 36,552 (741,245 ) Operating income 2,801,827 886,542 372,598 568,032 337,303 (36,566 ) 4,929,736 Equity method income (loss) (811 ) — 37,760 (1,244 ) 29,644 94,184 159,533 Income tax expense 673,972 251,357 48,464 156,698 94,094 31,210 1,255,795 Profit for the year W 1,999,002 703,305 154,531 457,116 273,575 (89,453 ) 3,498,076 Controlling interest W 1,998,563 703,204 154,772 457,116 273,575 (172,635 ) 3,414,595 Non-controlling 439 101 (241 ) — — 83,182 83,481 (c) Interest gains and losses from segment external customers and cross-sector interest gains and losses for the years ended December 31, 2018, 2019 and 2020 are as follows: 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 2020 Banking Credit card Securities Life Others Consolidation Total Net interest income from: External customers (*) W 6,037,205 1,809,149 526,167 1,605,575 114,290 (209,686 ) 9,882,700 Internal transactions 427 (54,110 ) (9,123 ) 3,378 52,332 7,096 — W 6,037,632 1,755,039 517,044 1,608,953 166,622 (202,590 ) 9,882,700 (*) 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, 2018, 2019 and 2020. 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 974,636 436,523 361,526 175,171 192,663 — 2,140,519 Internal transactions (24,247 ) (33,264 ) (10,223 ) (7,847 ) 79,581 (4,000 ) — W 950,389 403,259 351,303 167,324 272,244 (4,000 ) 2,140,519 2020 Banking Credit card Securities Life Others Consolidation Total Net fees and commission income from: External customers W 859,225 531,394 553,308 173,865 265,141 — 2,382,933 Internal transactions (36,817 ) (47,908 ) (9,125 ) (11,581 ) 103,209 2,222 — W 822,408 483,486 544,183 162,284 368,350 2,222 2,382,933 |
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, 2018, 2019 and 2020. 2018 2019 2020 Domestic W 4,023,916 4,378,239 4,436,252 Overseas 475,498 668,011 493,484 W 4,499,414 5,046,250 4,929,736 The following table provides information of non-current 2019 2020 Domestic W 9,816,600 9,734,468 Overseas 314,052 351,083 W 10,130,652 10,085,551 (*) Non-current |
Cash and Due from banks at am_2
Cash and Due from banks at amortized cost (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2019 and 2020 are as follows: 2019 2020 Cash and cash equivalents Cash W 2,573,579 1,782,301 Cash equivalents 9,307 22,979 2,582,886 1,805,280 Deposits denominated in Korean won: Reserve deposits 13,840,988 16,957,521 Time deposits 1,413,964 950,624 Other 1,890,541 3,953,337 17,145,493 21,861,482 Deposits denominated in foreign currency: Deposits 5,616,049 5,576,206 Time deposits 2,393,885 2,721,849 Other 697,505 1,455,732 8,707,439 9,753,787 Allowance for credit losses (12,074 ) (10,007 ) W 33,410,542 |
Restricted due from banks at amortized cost | (b) Restricted due from banks at amortized cost as of December 31, 2019 and 2020 are as follows: 2019 2020 Related Regulations or Acts Deposits denominated in Korean won: Reserve deposits W 13,840,988 16,957,521 Article 55 of the Bank of Korea Act Other 1,081,698 2,390,761 Article 28 and 70 of the Bank of Korea Act, Article 74 of the Capital Markets and Financial Investment Business Act, etc. 14,922,686 19,348,282 Deposits denominated in foreign currency 1,584,239 2,621,129 Articles of the Bank of Korea Act, New York State Banking Act, derivatives, etc. W 16,506,925 21,969,411 |
Financial assets at fair valu_2
Financial assets at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2019 and 2020 are as follows: 2019 2020 Debt instruments: Governments W 2,873,419 4,248,448 Financial institutions 12,711,074 13,997,922 Corporations 8,541,514 9,356,842 Stocks with put option 598,858 583,590 Equity investment with put option 1,458,933 1,860,195 Beneficiary certificates 10,678,620 12,451,709 Commercial papers 5,160,063 6,369,854 CMA 3,723,401 2,806,485 Others (*) 2,655,260 3,411,647 48,401,142 55,086,692 Equity instruments: Stocks 1,488,743 1,627,020 Equity investment — 1,697 Others 109,197 107,742 1,597,940 1,736,459 W 49,999,082 56,823,151 Other: Loans at fair value W 2,154,821 2,016,801 Due from banks at fair value 897,525 63,112 Gold/silver deposits 111,715 188,339 W 53,163,143 59,091,403 (*) As of December 31, 2019 and 2020, restricted reserve for claims of customers’ deposits (trusts) are W W |
Financial assets to which overlay approach are applied in accordance with IFRS 9 'Financial Instruments' and IFRS 4 'Insurance Contracts' | (b) Financial assets to which overlay approach are applied in accordance with IFRS 9 ‘Financial Instruments’ and IFRS 4 ‘Insurance Contracts’ as of December 31, 2019 and 2020 are as follows: 2019 2020 Due from banks at fair value through profit or loss W 897,525 63,112 Securities at fair value through profit or loss 5,139,380 4,865,908 W 6,036,905 4,929,020 |
Reclassified amounts between profit or loss and other comprehensive income due to the overlay approach | 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, 2019 and 2020 are as follows: 2019 Profit or loss Other comprehensive By IFRS 9 By IAS 39 Amount Tax effect Net gain (loss) on valuation of financial W 150,865 (74,586 ) 225,451 (50,042 ) Net gain (loss) on disposal of financial 65,627 43,493 22,134 (4,672 ) W 216,492 (31,093 ) 247,585 (54,714 ) 2020 Profit or loss Other comprehensive By IFRS 9 By IAS 39 Amount Tax effect Net gain (loss) on valuation of financial W 123,808 (21,488 ) 145,301 (39,140 ) Net gain (loss) on disposal of financial 53,806 62,926 (9,120 ) 4,086 Net gain (loss) on foreign currency conversion of financial assets at fair value through profit or loss 74 — 74 (20 ) W 177,688 41,438 136,255 (35,074 ) (*) The amount of the policyholders equity adjustment for the reclassification of other comprehensive income is W |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Derivatives [Abstract] | |
The notional amounts of derivatives | (a) The notional amounts of derivatives outstanding as of December 31, 2019 and 2020 are as follows: 2019 2020 Foreign currency related: Over the counter: Currency forwards W 137,383,704 117,566,233 Currency swaps 40,826,444 33,562,251 Currency options 2,758,801 2,501,983 180,968,949 153,630,467 Exchange traded: Currency futures 1,045,138 1,102,534 182,014,087 154,733,001 Interest rates related: Over the counter: Interest rate swaps 37,801,528 36,205,843 Interest rate options 286,000 324,238 38,087,528 36,530,081 Exchange traded: Interest rate futures 2,455,450 2,465,374 Interest rate swaps (*) 65,868,540 68,475,400 68,323,990 70,940,774 106,411,518 107,470,855 Credit related: Over the counter: Credit swaps 5,404,257 4,536,626 Equity related: Over the counter: Equity swaps and forwards 4,255,831 2,628,661 Equity options 864,038 508,686 5,119,869 3,137,347 Exchange traded: Equity futures 876,220 1,638,126 Equity options 4,039,226 4,277,882 4,915,446 5,916,008 10,035,315 9,053,355 Commodity related: Over the counter: Commodity swaps and forwards 758,533 537,351 Exchange traded: Commodity futures and options 344,329 263,460 1,102,862 800,811 2019 2020 Hedge: Currency forwards 1,869,518 1,281,945 Currency swaps 4,532,114 4,328,333 Interest rate swaps 10,091,632 7,844,392 16,493,264 13,454,670 W 290,049,318 (*) The notional amounts of derivatives outstanding those will be settled in the ‘Central Counter Party (CCP)’ system. |
Fair values of derivative instruments | (b) Fair values of derivative instruments as of December 31, 2019 and 2020 are as follows: 2019 2020 Assets Liabilities Assets Liabilities Foreign currency related: Over the counter: Currency forwards W 1,360,384 1,056,760 3,135,319 3,021,258 Currency swaps 473,797 519,445 1,145,619 979,022 Currency options 9,007 9,430 33,253 31,871 1,843,188 1,585,635 4,314,191 4,032,151 Exchange traded: Currency futures — — 90 186 1,843,188 1,585,635 4,314,281 4,032,337 Interest rates related: Over the counter: Interest rate swaps 260,020 247,723 311,403 363,297 Interest rate options 835 5,626 2,148 2,217 260,855 253,349 313,551 365,514 Exchange traded: Interest rate futures 697 595 900 422 261,552 253,944 314,451 365,936 Credit related: Over the counter: Credit swaps 283,015 38,598 273,578 29,682 Equity related: Over the counter: Equity swap and forwards 144,276 39,422 122,034 48,218 Equity options 4,526 9,402 2,750 9,840 148,802 48,824 124,784 58,058 2019 2020 Assets Liabilities Assets Liabilities Exchange traded: Equity futures W 4,318 6,417 34,816 7,711 Equity options 28,355 29,741 77,973 153,461 32,673 36,158 112,789 161,172 181,475 84,982 237,573 219,230 Commodity related: Over the counter: Commodity swaps and forwards 14,496 27,745 5,949 32,693 Exchange traded: Commodity futures and options 2,342 10,100 11,580 186 16,838 37,845 17,529 32,879 Hedge: Currency forwards 14,380 21,121 91,747 10,507 Currency swaps 74,240 48,396 65,256 186,150 Interest rate forwards and swaps 154,586 232,491 319,500 139,846 243,206 302,008 476,503 336,503 W 2,829,274 2,303,012 5,633,915 5,016,567 |
Gain or loss on valuation of derivatives | (c) Gain or loss on valuation of derivatives for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Foreign currency related Over the counter Currency forwards W 41,188 174,340 (108,854 ) Currency swaps (34,444 ) (24,827 ) 210,072 Currency options 8,247 4,056 4,979 14,991 153,569 106,197 Exchange traded Currency futures 11 — (96 ) 15,002 153,569 106,101 Interest rates related Over the counter Interest rate swaps 86,675 (75,349 ) (73,926 ) Interest rate options (1,459 ) (1,938 ) (372 ) 85,216 (77,287 ) (74,298 ) Exchange traded Interest rate futures (2,512 ) 1,008 4,236 82,704 (76,279 ) (70,062 ) 2018 2019 2020 Credit related Over the counter Credit swaps W (18,396 ) 213,754 7,255 Equity related Over the counter Equity swap and forwards (271,457 ) 46,770 (15,979 ) Equity options 4,326 (841 ) (2,082 ) (267,131 ) 45,929 (18,061 ) Exchange traded Equity futures 15,159 (2,275 ) 26,305 Equity options (44,163 ) 58,721 196,288 (29,004 ) 56,446 222,593 (296,135 ) 102,375 204,532 Commodity related Over the counter Commodity swaps and forwards (79,296 ) 3,191 (13,519 ) Commodity options 33 29 — (79,263 ) 3,220 (13,519 ) Exchange traded Commodity futures 4,209 (7,759 ) 11,374 (75,054 ) (4,539 ) (2,145 ) Hedge 78,892 332,778 120,700 W (212,987) 721,658 366,381 |
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, 2019 and 2020 are as follows: 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 2020 Gains (losses) on Gains (losses) on Hedge ineffectiveness Fair value hedges: Interest rate swaps (*1) W (228,266 ) 233,008 4,742 Foreign exchange risk (*1) (21,336 ) 12,071 (9,265 ) W (249,602 ) 245,079 (4,523 ) (*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: 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 ) 2020 Gains (losses) on hedges Hedge ineffectiveness From cash flow hedge Cash flow hedges: Interest rate risk (*1) W (3,220 ) (343 ) — Foreign exchange risk (*1) (16,693 ) (6,539 ) 26,405 Discontinuation of cash flow hedges (45 ) — 45 Hedge of net investments: Foreign exchange risk (*1) 44,049 (2,134 ) — W (9,016) 26,450 (*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 amounts and average hedge ratios for hedging instruments | ii) Nominal amounts and average hedge ratios for hedging instruments as of December 31, 2019 and 2020 are as follows: 2019 Less than 1~2 2~3 3~4 4~5 More than 5 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 % 2020 Less than 1~2 2~3 3~4 4~5 More than 5 Total Interest risk: Nominal values: W 657,656 640,992 1,217,588 456,688 247,244 4,624,224 7,844,392 Average price condition (*1) 1.12 % 0.88 % 1.30 % 0.98 % 0.67 % 0.38 % 0.67 % Average hedge ratio: 100 % 100 % 100 % 100 % 100 % 100 % 100 % Exchange risk: (*2) Nominal values: 2,340,409 1,448,787 1,734,593 457,199 575,527 250,014 6,806,529 Average hedge ratio: 100 % 100 % 100 % 100 % 100 % 100 % 100 % (*1) Interest rate swaps consist of 3M CD, 3M USD Libor, 3M Euribor, and 3M AUD Bond. (*2) The average exchange rates of net investment hedge instruments are USD/KRW 1,154.76, JPY/KRW 10.61, EUR/KRW 1,287.16, GBP/KRW 1,480.30, AUD/KRW 800.67, CAD/KRW 895.95, SGD/KRW 847.09, CNY/KRW 168.84, SEK/KRW 124.60 |
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity | iii) Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity 2019 Nominal amount Carrying value Carrying value Changes in fair Fair value hedges Interest rate swap W 9,371,632 154,586 210,079 314,766 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 ) 2020 Nominal amount Carrying value Carrying value Changes in fair Fair value hedges Interest rate swap W 6,965,492 319,294 120,728 181,151 Currency swap — — 67 985 Currency forward 254,023 20,093 66 24,481 Cash flow hedge Interest rate swap 878,900 206 19,118 3,303 Currency swap 4,328,333 65,256 186,083 (8,560 ) Currency forward 810,322 60,473 — (4,181 ) Hedge of net investments in foreign operations Currency forward 217,600 11,181 10,441 (2,991 ) Borrowings 1,196,252 — 1,193,269 44,907 (*) The related account categories are presented as interest rate swap assets / liabilities and currency forward assets and liabilities. |
Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity | iv) Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity 2019 Carrying Carrying Assets of Liabilities of Changes if Cash flow Foreign Fair value hedges Interest rate risk: Borrowings and etc W 432,172 8,859,022 4,846 (56,292 ) (308,463 ) — — Foreign exchange risk Securities in foreign currency 306,638 — — — 1,671 — — Cash flow hedge Interest rate risk: Debentures in won and debentures in foreign currency 645,723 1,740,000 — — (11,126 ) 80,674 — Foreign exchange risk: Debentures in foreign currency and loans in foreign currency 4,116,068 3,035,423 — — 115,867 (11,188 ) — Hedge of net investments in foreign operations Foreign exchange risk: Net assets in foreign business establishment — — — — (49,463 ) — (88,953 ) 2020 Carrying Carrying Assets of Liabilities of Changes if Cash flow Foreign Fair value hedges Interest rate risk: Borrowings and etc W 143,496 6,750,929 6,563 193,452 (175,369 ) — — Foreign exchange risk Securities in foreign currency 342,205 — — — (26,927 ) — — Cash flow hedge Interest rate risk: Debentures in won and debentures in foreign currency 617,463 1,674,460 — — 2,296 60,659 — Foreign exchange risk: Debentures in foreign currency and loans in foreign currency 3,264,740 2,962,041 — — (58,557 ) (32,001 ) — Hedge of net investments in foreign operations Foreign exchange risk: Net assets in foreign business establishment — — — — 44,049 — (141,151 ) (*) The related account categories are presented as interest rate swap assets / liabilities and currency forwards. |
Hedge relationships affected by an interest rate index | (f) Hedge relationships affected by an interest rate index The revised Standard requires exceptions to the analysis of future information in relation to the application of hedge accounting, while uncertainty exists due to movements of the interest rate indicator reform. The exception assumes that when assessing whether the expected cash flows that comply with existing interest rate indicators are highly probable, whether there is an economic relationship between the hedged item and the hedging instrument, and whether there is a high hedge effectiveness between the hedged item and the hedging instrument, the interest rate indicators that are based on the hedged item do not change due to the effect of the interest rate index reform. The nominal amount of the hedging instrument related to the interest rate index exposed to the hedging relationship due to the Group’s reform of the interest rate index as of December 31, 2020 is as follows: Interest rate index Carrying amount of Carrying amount of Nominal amount of KRW 3M CD (*1) W — 3,329,530 3,440,000 USD 1M LIBOR — 1,537,051 1,540,608 USD 3M LIBOR (*1) 357,072 3,438,080 3,790,651 EUR 1M LIBOR — 264,074 264,450 EUR 3M LIBOR — 267,648 267,648 (*1) Include nominal amount of the hedging instrument related to the CMS(Constant Maturity Swap) calculated based on the CD and LIBOR rate. (*2) Include the nominal amount that will mature after the end of 2021. From 2022, the USD LIBOR interest rate will be replaced by a Secured Overnight Financing Rate (SOFR) based on actual transactions, andthe EUR LIBOR interest rate will be replaced by the next day’s unsecured rate, Euro Short-Term Rate (ESTER). The Risk-Free |
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, 2020 | |
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, 2019 and 2020 are as follows: 2019 2020 Securities at FVOCI: Debt securities: Government bonds W 17,597,910 19,370,393 Financial institutions bonds 21,527,242 20,053,716 Corporate bonds and others 19,447,942 17,985,324 58,573,094 57,409,433 Equity securities (*): Stocks 728,311 777,901 Equity investments 5,356 4,445 Others 74,292 124,333 807,959 906,679 59,381,053 58,316,112 Securities at amortized cost: Debt securities: Government bonds 30,385,084 31,816,320 Financial institutions bonds 4,770,204 3,835,577 Corporate bonds and others 10,426,777 11,630,726 45,582,065 47,282,623 W 104,963,118 105,598,735 (*) 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 are 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, 2019 and 2020 are as follows: 2019 Securities at fair value through other Securities at amortized cost 12-month credit loss Life time credit loss Total 12-month 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-month 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 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 2020 Securities at fair value through other Securities at amortized cost 12-month credit loss Life time credit loss Total 12-month credit loss Life time credit loss Total Beginning allowance W 58,334,000 239,094 58,573,094 45,568,563 23,272 45,591,835 Transfer to 12-month 30,233 (30,233 ) — — — — Transfer to life time expected credit loss (83,132 ) 83,132 — — — — Transfer to impaired financial asset — — — — — — Purchase 52,637,678 19,675 52,657,353 7,645,000 — 7,645,000 Disposal (34,969,744 ) (21,247 ) (34,990,991 ) — — — Repayment (17,610,988 ) (12 ) (17,611,000 ) (5,900,311 ) (23,272 ) (5,923,583 ) Others (*) (1,195,749 ) (23,274 ) (1,219,023 ) (20,143 ) — (20,143 ) Ending balance W 57,142,298 267,135 57,409,433 47,293,109 — 47,293,109 (*) Included the effects from changes in foreign exchange 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, 2019 and 2020 are as follows: 2019 Securities at fair value through 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 2020 Securities at fair value through Securities at amortized cost 12 months Life time Total 12 months Life time Total Beginning allowance W 27,581 655 28,236 9,759 11 9,770 Transfer to 12 months expected credit loss 22 (22 ) — — — — Transfer to life time expected credit loss (193 ) 193 — — — — Transfer to impaired financial asset — — — — — — Provision (reversal) 3,480 349 3,829 1,086 (11 ) 1,075 Disposal (9,019 ) (487 ) (9,506 ) — — — Others (*) 622 (10 ) 612 (359 ) — (359 ) Ending balance W 22,493 678 23,171 10,486 — 10,486 (*) Included the effects from changes in foreign exchange rate, debt restructuring, debt-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, 2019 and 2020 are as follows: 2019 2020 Gain on disposal of securities at FVOCI W 159,883 301,920 Loss on disposal of securities at FVOCI (7,605 ) (28,127 ) Gain on disposal of securities at amortized cost (*) 86 42 Loss on disposal of securities at amortized cost (*) (20 ) (67 ) W 152,344 273,768 (*) The issuers of those securities have exercised the early redemption options and the others. |
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 i) The Group recognizes dividends, amounting to W W ii) The details of disposal of equity securities at fair value through other comprehensive income for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Fair value at the date of disposal W 45,074 69,969 Cumulative net gain at the time of disposal (10,843 ) (38,380 ) |
Loans at amortized cost (Tables
Loans at amortized cost (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Loans at amortized cost and other assets [Abstract] | |
Loans at amortized cost and other assets | (a) Loans at amortized cost for configuration by customer as of December 31, 2019 and 2020 are as follows: 2019 2020 Household loans W 134,423,473 146,789,916 Corporate loans 161,029,877 179,011,251 Public and other loans 3,311,735 3,734,629 Loans to banks 2,633,532 5,492,400 Credit card receivables 24,024,491 23,759,422 325,423,108 358,787,618 Discount (27,824 ) (21,948 ) Deferred loan origination costs 534,530 516,815 325,929,814 359,282,485 Less: Allowance for credit loss (2,684,835 ) (3,060,966 ) W 323,244,979 356,221,519 |
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, 2019 and 2020 are as follows: 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 — Net increase and decrease (*1) 13,234,263 (1,700,287 ) (222,961 ) 19,326,283 (9,567,098 ) (443,468 ) 1,583,714 33,389 305,336 (315,219 ) (148,875 ) (11,979 ) 22,073,098 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 ) Business combination 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) The amount is due to execution, collection, debt restructuring, investment conversion, exchange rate fluctuation, etc. (*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 — Net increase and decrease (*2) 10,746,289 (230,014 ) 25,245 10,541,520 Charge off — — (29,456 ) (29,456 ) Disposal (*3) (182,212 ) (3 ) (1,062 ) (183,277 ) Business combination 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) The amount is due to execution, collection, debt restructuring, investment conversion, exchange rate fluctuation, etc. (*3) Included the disposal amount of financial instruments for the purpose of collecting loans for credit concentration risk management of non-current W i) Loans at amortized cost 2020 Retail Corporate Credit card Others 12 months Life time Impaired 12 months Life time Impaired 12 months Life time Impaired 12 months Life Impaired Total Beginning 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 Transfer (from) to 12 months expected credit losses 2,891,847 (2,885,809 ) (6,038 ) 6,009,242 (6,006,226 ) (3,016 ) 351,253 (350,651 ) (602 ) 15,976 (15,976 ) — — Transfer (from) to lifetime expected credit losses (3,916,612 ) 3,944,714 (28,102 ) (9,015,428 ) 9,027,416 (11,988 ) (571,971 ) 572,291 (320 ) (85,337 ) 85,337 — — Transfer (from) to credit- impaired financial assets (189,681 ) (157,637 ) 347,318 (195,863 ) (441,969 ) 637,832 (114,388 ) (191,777 ) 306,165 (3,964 ) (37 ) 4,001 — Net increase and decrease (*1) 13,457,675 (556,142 ) 81,131 20,679,401 (1,030,466 ) 15,944 (115,242 ) (202,750 ) 290,907 3,311,105 (33,596 ) 2,402 35,900,369 Charge off — — (254,723 ) — — (317,514 ) — — (572,008 ) — — (2,531 ) (1,146,776 ) Disposal (313,150 ) (897 ) (89,051 ) (731,001 ) — (264,913 ) — — — — — (1,910 ) (1,400,922 ) Ending balance W 138,516,630 8,215,137 466,427 152,338,024 26,210,417 1,057,932 18,969,258 3,951,689 468,377 8,405,173 665,196 18,225 359,282,485 (*1) Other changes are due to debt restructuring, debt-equity swap and changes in foreign exchange rate. (*2) The amount of uncollected loans currently in recovery (principal and interest) is W ii) Other financial assets 2020 12 month credit loss Life time credit Impaired Total Beginning balance W 43,245,002 106,517 45,965 43,397,484 Transfer (from) to 12 month expected credit losses 15,157 (15,123 ) (34 ) — Transfer (from) to lifetime expected credit losses (25,839 ) 25,848 (9 ) — Transfer (from) to credit- impaired financial assets (1,628 ) (7,342 ) 8,970 — Net increase and decrease (*2) 8,633,124 (10,001 ) 30,490 8,653,613 Charge off — — (26,814 ) (26,814 ) Disposal — — (910 ) (910 ) Business combination(Note 47) 15,982 — — 15,982 Ending balance W 51,881,798 99,899 57,658 52,039,355 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) The amount is due to execution, collection, debt restructuring, investment conversion, exchange rate fluctuation, etc. |
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, 2019 and 2020 are as follows: 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 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 debt restructuring, debt-equity swap and changes in foreign exchange rate. 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 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 debt restructuring, debt-equity swap and changes in foreign exchange rate. i) Loans at amortized cost 2020 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 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 Transfer (from) to 12 months expected credit losses 20,082 (19,487 ) (595 ) 67,590 (66,777 ) (813 ) 22,148 (21,591 ) (557 ) 164 (164 ) — — Transfer (from) to lifetime expected credit losses (9,077 ) 18,772 (9,695 ) (49,727 ) 55,512 (5,785 ) (11,568 ) 11,834 (266 ) (242 ) 242 — — Transfer (from) to credit- impaired financial assets (3,247 ) (9,010 ) 12,257 (1,590 ) (52,383 ) 53,973 (901 ) (2,041 ) 2,942 (13 ) (9 ) 22 — Provision (reversal) 5,253 (5,319 ) 199,765 149,400 211,341 265,557 103,793 210,592 137,254 4,188 2,048 6,823 1,290,695 Charge off — — (254,723 ) — — (317,514 ) — — (572,008 ) — — (2,531 ) (1,146,776 ) Amortization of discount — — (5,630 ) — — (15,151 ) — — (7,807 ) — — — (28,588 ) Disposal (343 ) (8 ) (18,605 ) (726 ) — (24,473 ) — — — — — (182 ) (44,337 ) Collection — — 85,819 — — 63,822 — — 200,234 — — 134 350,009 Others (*) 2,954 10,075 20,809 (16,085 ) (13,896 ) (7,579 ) (83,448 ) (189,589 ) 232,048 (164 ) 3 — (44,872 ) Ending balance W 149,034 86,048 198,440 568,614 665,083 481,244 203,908 374,453 306,690 11,434 9,601 6,417 3,060,966 (*) Other changes are due to debt restructuring, debt-equity swap and changes in foreign exchange rate. ii) Other financial assets 2020 12 months credit loss Life time credit loss Impaired Total Beginning balance W 33,987 7,272 37,590 78,849 Transfer (from) to 12 months expected credit losses 286 (273 ) (13 ) — Transfer (from) to lifetime expected credit losses (259 ) 264 (5 ) — Transfer (from) to credit- impaired financial assets (256 ) (1,492 ) 1,748 — Provision (reversal) (2,143 ) 2,650 33,278 33,785 Charge off — — (26,814 ) (26,814 ) Disposal (2 ) — (32 ) (34 ) Collection — — 2,166 2,166 Others (*2) 4,078 (140 ) 1,012 4,950 Ending balance W 35,691 8,281 48,930 92,902 (*1) The amortized cost includes the gross carrying amount of deposits and other assets. (*2) Other changes are due to debt restructuring, debt-equity swap and changes in foreign exchange rate. |
Changes in deferred loan origination costs | (d) Changes in deferred loan origination costs for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Beginning balance W 497,368 534,530 Loan origination 232,943 257,034 Amortization (208,998 ) (274,749 ) Business combination 13,217 — Ending balance W 534,530 516,815 |
Property and equipment, net (Ta
Property and equipment, net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Property and equipment, net [Abstract] | |
Property and equipment | (a) Details of property and equipment as of December 31, 2019 and 2020 are as follows: 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 2020 Acquisition Accumulated Carrying Land W 2,219,227 — 2,219,227 Buildings 1,230,187 (419,426 ) 810,761 Right-of-use 1,016,183 (425,766 ) 590,417 Others 2,197,485 (1,828,193 ) 369,292 W (2,673,385) 3,989,697 |
Changes in property and equipment | (b) Changes in property and equipment for the years ended December 31, 2019 and 2020 are as follows: 2019 Land Buildings Right-of-use Others Total Beginning balance W 1,827,711 852,569 583,576 313,853 3,577,709 Acquisition (*1) 69,045 16,946 805,783 184,630 1,076,404 Disposal (*1) (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 — — 31,589 11,653 43,242 Ending balance W 1,815,112 790,449 1,112,796 364,971 4,083,328 (*1) W (*2) Included buildings, and land. 2020 Land Buildings Right-of-use Others Total Beginning balance W 1,815,112 790,449 1,112,796 364,971 4,083,328 Acquisition (*1) 78,066 56,828 305,958 140,958 581,810 Disposal (*1) (92,683 ) (46,897 ) (24,173 ) (2,398 ) (166,151 ) Depreciation — (56,041 ) (286,028 ) (133,437 ) (475,506 ) Amounts transferred from(to) investment property 55,316 (51,252 ) — — 4,064 Amounts transferred from(to) intangible assets — — — 3,738 3,738 Amounts transferred from(to) non-current (31,622 ) (11 ) — — (31,633 ) Amounts transferred from(to) right-of-use 395,346 118,091 (513,437 ) — — Others — — — (2,235 ) (2,235 ) Effects of foreign currency movements (308 ) (406 ) (5,380 ) (2,459 ) (8,553 ) Business combination (Note 47) — — 681 154 835 Ending balance W 2,219,227 810,761 590,417 369,292 3,989,697 (*1) W (*2) Included buildings, and land. |
Insured assets | (c) Insured assets and liability insurance as of December 31, 2020 are as follows: 2020 Type of insurance Insured assets and objects Amount Insurance company Comprehensive insurance for financial institutions Cash(including W 25,200 Samsung Fire & Marine Insurance Co., Ltd.,etc. Comprehensive Property insurance Property Total Risk, 1,510,644 Samsung Fire & Marine Insurance Co., Ltd., etc. Fire insurance Business property 24,235 Meritz Fire & Marine Insurance Co., Ltd., etc. Compensation liability insurance for officers Officer liability of 110,000 Meritz Fire & Marine Insurance Co., Ltd., etc. Compensation liability insurance for employee accident Employee 71,287 Meritz Fire & Marine Insurance Co., Ltd., etc. Burglary insurance Cash and securities 80,165 Samsung Fire & Marine Insurance Co., Ltd., etc. Others Personal 32,549 Samsung Fire & Marine Insurance Co., Ltd., etc. |
Intangible assets, net (Tables)
Intangible assets, net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Intangible assets, net [Abstract] | |
Intangible assets | (a) Details of intangible assets as of December 31, 2019 and 2020 are as follows: 2019 2020 Goodwill W 4,690,049 4,689,792 Software 129,235 144,535 Development cost 144,100 183,592 Others 595,330 462,700 W 5,480,619 |
Changes in intangible assets | (b) Changes in intangible assets for the years ended December 31, 2019 and 2020 are as follows: 2019 Goodwill Software Development Others Total Beginning balance W 3,903,518 102,393 82,536 231,687 4,320,134 Acquisition — 56,834 71,713 675,070 803,617 Disposal — (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 Business combination 786,531 9,469 30,435 44,850 871,285 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 were impaired. 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 as of December 31, 2019, the impairment loss is recognized. (*3) Included in general administrative expense and other operating income of the consolidated statements of comprehensive income. 2020 Goodwill Software Development Others Total Beginning balance W 4,690,049 129,235 144,100 595,330 5,558,714 Acquisition — 64,195 105,101 64,079 233,375 Disposal — (1 ) (75 ) (26,785 ) (26,861 ) Amounts transferred from(to) property and equipment — 1,415 (7,820 ) 2,667 (3,738 ) Impairment (*1)(*2) (14,235 ) — — (27,075 ) (41,310 ) Amortization (*3) — (49,159 ) (57,690 ) (145,756 ) (252,605 ) Effects of foreign currency movements — (1,150 ) (24 ) (222 ) (1,396 ) Business combination (Note 47) 13,978 — — 462 14,440 Ending balance W 4,689,792 144,535 183,592 462,700 5,480,619 (*1) The number of customer contacts decreased due to the decrease in the base interest rate in Indonesia in 2020 and the impact of COVID-19. W W W (*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, 2020, the impairment loss amounted to W non-operating (*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, 2019 and 2020 2019 2020 Banking W 810,058 795,823 Credit card 2,880,383 2,880,383 Securities 7,904 7,904 Life insurance (Shinhan Life Insurance Co., Ltd.) 275,371 275,371 Life insurance (Orange Life Insurance Co., Ltd.) 564,576 564,576 Others 151,757 165,735 W 4,690,049 4,689,792 |
Changes in goodwill | ii) Changes in goodwill for the years ended December 31, 2019 and 2020 2019 2020 Beginning balance W 3,903,518 4,690,049 Acquisitions through business combinations (*1)(*2) 786,531 13,978 Impairment losses — (14,235 ) Ending balance W 4,690,049 4,689,792 (*1) It is the goodwill recognized by the Group as it newly acquired the Neoflux Co., Ltd. (Note 47) (*2) It is the goodwill recognized by the Group as it newly acquired the 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. |
Discount rates and terminal growth rates | • Discount rates and terminal growth rates applied to each CGU are as follows: Discount rate(%) Terminal growth rate(%) Banking 9.3~13.1 1.0~2.0 Credit card 8.4~12.9 1.0~2.0 Securities 12.3~13.0 2.0 Life insurance (Shinhan Life Insurance) 7.0 — Life insurance (Orange Life Insurance Co., Ltd.) 7.0 — Others 10.9~13.5 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: 2020 2021 2022 2023 2024 2025 CPI growth(%) 0.4 1.2 1.8 1.7 1.7 1.7 Private consumption growth(%) (3.2 ) 2.6 2.8 2.6 2.4 2.4 Real GDP growth(%) (1.8 ) 2.6 2.9 2.7 2.7 2.7 Key assumptions used in the discounted cash flow calculations of life insurance components are as follows: Key assumptions Rate of return on investment(%) 2.4~2.8 Risk-based capital ratio(%) 150.0 |
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 49,034,706 Total carrying value (*1) 43,690,747 W 5,343,959 (*1) It is the carrying amount after reflecting the impairment loss in the banking sector. (*2) The goodwill that the fair value assessment of the intangible asset identification and identification assets for allocation of the consideration for Neoplux Co., Ltd. is excluded because the valuations are not completed(Note 47). |
Investments in associates (Tabl
Investments in associates (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investments in associates [Abstract] | |
Investments in associates | (a) Investments in associates as of December 31, 2019 and 2020 are as follows: Investees Country Date of financial Ownership (%) 2019 2020 BNP Paribas Cardif Life Insurance (*1)(*2) Korea September 30 14.99 14.99 Songrim Partners (*1)(*3) Korea December 31 35.34 35.34 Neoplux Technology Valuation Investment Fund (*11) Korea — 33.33 — Partners 4th Growth Investment Fund (*1) Korea September 30 25.00 25.00 KTB Newlake Global Healthcare PEF (*1) Korea September 30 30.00 30.00 Daekwang Semiconductor Co., Ltd. (*1)(*3) Korea September 30 20.94 20.94 Shinhan-Neoplux Energy Newbiz Fund Korea December 31 23.33 31.66 Shinhan-Albatross tech investment Fund (*4) Korea December 31 50.00 49.97 Plutus-SG Korea — 26.67 — Eum Private Equity Fund No.3 Korea December 31 20.76 20.76 KTB Confidence Private Placement (*6) Korea — 31.43 — Meritz AI-SingA330-A Korea December 31 23.89 23.89 Meritz AI-SingA330-B Korea December 31 20.16 20.16 VOGO Debt Strategy Qualified INV Private Korea December 31 20.00 20.00 Shinhan-Midas Donga Secondary Fund (*5) Korea December 31 50.00 50.00 ShinHan – Soo Young Entrepreneur Investment Fund No.1 Korea December 31 24.00 24.00 Synergy-Shinhan Mezzanine New Technology Investment Fund (*6) Korea — 47.62 — Shinhan Praxis K-Growth Korea December 31 18.87 18.87 Credian Healthcare Private Equity Fund II Korea December 31 34.07 34.07 Kiwoom Milestone Professional Private Real Estate Trust 19 Korea December 31 50.00 50.00 AIP EURO Green Private Real Estate Trust No.3 Korea December 31 21.28 21.28 Hanhwa US Equity Strategy Private Real Estate Fund No.1 Korea December 31 44.84 44.84 Shinhan Global Healthcare Fund 1 (*8) Korea December 31 4.41 4.41 JB Power TL Investment Type Private Placement Special Asset Fund 7 Korea December 31 33.33 33.33 IBK AONE convertible 1 (*6) Korea — 47.25 — Rico synergy collabo Multi-Mezzanine Korea — 50.03 — KB NA Hickory Private Special Asset Fund Korea December 31 37.50 37.50 Investees Country Date of financial Ownership (%) 2019 2020 Koramco Europe Core Private Placement Real Estate Fund No.2-2 Korea December 31 44.02 44.02 BNP Paribas Cardif General Insurance (*1)(*2) Korea September 30 10.00 7.46 Axis Global Growth New Technology Investment Association (*6) Korea — 31.85 — Hermes Private Investment Equity Fund Korea December 31 29.17 29.17 SHC ULMUS Fund No.1 (*6) Korea — 29.41 — Shinhan-Nvestor Liquidity Solution Fund Korea December 31 24.92 24.92 Shinhan AIM FoF Fund 1a Korea December 31 25.00 25.00 IGIS Global Credit Fund 150-1 Korea December 31 25.00 25.00 GX Shinhan Intervest 1st Private Equity Fund (*6) Korea — 25.27 — Soo Commerce Platform Growth Fund Korea December 31 24.62 24.62 Partner One Value up I Private Equity Fund Korea December 31 27.91 27.91 Genesis No.1 Private Equity Fund Korea December 31 22.80 22.80 GMB ICT New Technology Investment Fund (*6) Korea — 26.75 — Korea Omega Project Fund III Korea December 31 23.53 23.53 Soo Delivery Platform Growth Fund Korea December 31 30.00 30.00 Genesis North America Power Company No.1 PEF Korea December 31 39.92 39.96 Hyungje art printing (*1)(*3) Korea December 31 31.54 31.54 SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 Korea December 31 23.33 23.33 Shinhan-Rhinos 1 Fund Korea December 31 22.48 22.48 Pacific Private Investment Trust No.20 Korea December 31 21.74 21.74 Susung Mezzanine project P1 Private Investment Trust Korea December 31 41.18 41.31 Korea Finance Security (*1)(*8) Korea September 30 14.91 14.91 Multimedia Tech Co.Ltd (*1)(*3) Korea December 31 21.06 21.06 MIEL CO.,LTD (*1)(*3) Korea December 31 28.77 28.77 AIP Transportation Specialized Privately Placed Fund Trust #1 Korea December 31 35.73 35.73 DB Epic Convertiblebond Private Trust No.2 (*7)(*9) Korea December 31 50.00 50.98 PCC S/W 2nd Fund (*6) Korea — 29.56 — E&Healthcare Investment Fund No.6 Korea December 31 20.37 21.05 One Shinhan Global Fund1 (*4)(*8) Korea December 31 19.98 19.96 Kiwoom-Shinhan Innovation Fund I (*5) Korea December 31 50.00 50.00 Daishin-K&T Korea December 31 31.25 31.25 Midas Asset Global CRE Debt Private Fund No.6 Korea December 31 20.05 41.16 Richmond Private Investment Trust No.82 (*7) Korea December 31 60.00 60.00 Tiger Alternative Real Estate Professional Private5 Korea December 31 48.71 48.71 Samchully Midstream Private Placement Special Asset Fund 5-4 Korea December 31 42.92 42.92 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 Korea December 31 20.00 20.00 AUCTUS FITRIN Corporate Recovery Private Equity Fund (*6) Korea — 21.43 — Investees Country Date of financial Ownership (%) 2019 2020 NH-Amundi Korea December 31 30.00 30.00 Pacific Private Real Estate Fund Investment Trust No.30 (*6) Korea — 37.50 — Jarvis Memorial Private Investment Trust 1 (*7) Korea December 31 99.01 99.01 Mastern Private Private Invetstment Trust 68 (*7) Korea December 31 53.76 53.76 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 (*7) Korea December 31 60.00 60.00 Milestone Private Real Estate Fund 3 (Derivative Type) Korea December 31 32.06 32.06 IGIS Private Real Estate Investment Trust 286 Korea December 31 41.56 41.44 Nomura-Rifa Private Real Estate Investment Trust 31 Korea December 31 31.31 31.31 Lime Pricing Private Equity Fund (*6) Korea — 25.85 — SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 Korea December 31 21.27 21.27 DS Solid.II Hedge Fund (*6) Korea — 27.41 — Hana Semiconductor New Technology Fund Korea December 31 24.30 24.30 J&Magnet Startup Venture Specialized Private Equity Fund Korea December 31 24.39 24.39 Cape IT Fund No.3 Korea December 31 32.89 32.89 FuturePlay-Shinhan TechInnovation Fund 1 (*5) Korea December 31 50.00 50.00 Stonebridge Corporate 1st Fund Korea December 31 44.12 44.12 Vogo Realty Partners Private Real Estate Fund V Korea December 31 21.64 21.64 IL GU FARM CO.,LTD (*6) Korea — 28.47 — Korea Credit Bureau (*1)(*8) Korea September 30 9.00 9.00 Goduck Gangil1 PFV Co., Ltd (*1)(*8) Korea September 30 1.04 1.04 SBC PFV Co., Ltd (*1)(*10) Korea September 30 25.00 25.00 Sprott Global Renewable Private Equity Fund II (*6) Korea — 23.10 — NH-amundi Korea December 31 50.00 50.00 IMM Global Private Equity Fund Korea December 31 31.85 33.00 HANA Alternative Estate Professional Private122 (*7) Korea December 31 75.19 75.19 Hanwha-Incus Plus New Technology Fund No.1 Korea December 31 42.64 42.64 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] Korea December 31 45.96 45.96 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust (*12) Korea December 31 57.50 72.39 PSA EMP Private Equity Fund Korea December 31 28.99 28.99 Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 (*7) Korea December 31 52.28 52.28 SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] Korea — 25.70 — SHBNPP Peace of Mind TDF 2040 Security Investment Trust [Equity Balanced-FoF] Korea — 25.42 — BRAIN DO PROFESSIONALE PRIVATE No. 27 Korea December 31 29.13 29.13 VISION US Muni US Local Debt Opportunities Professional Private1 (*11) Korea — 25.00 — Investees Country Date of financial Ownership (%) 2019 2020 UI Venture Fund 7th (*5) Korea December 31 — 24.39 Sparklabs-Shinhan Opportunity Fund 1 (*5) Korea December 31 — 49.50 BNW Tech-Innovation Private Equity Fund (*5) Korea December 31 — 29.85 IGIS Real-estate Private Investment Trust No.33 Korea December 31 — 40.86 Findvalue PreIPO 6th Professional Investment Type Private Investment Trust Korea December 31 — 31.58 WWG Global Real Estate Investment Trust no.4 Korea December 31 — 29.55 Fidelis Global Private Real Estate Trust No.2 (*7) Korea December 31 — 78.26 IGIS PRIVATE REAL ESTATE TRUST NO.331 Korea December 31 — 30.77 AIP EURO PRIVATE REAL ESTATE TRUST No. 12 Korea December 31 — 28.70 Pebblestone CGV Private Real Estate Trust No.1 Korea December 31 — 48.53 Shinhan AIM Real Estate Fund No.2 Korea December 31 — 30.00 Shinhan AIM Real Estate Fund No.1 Korea December 31 — 21.01 SHBNPP Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust [Infra business] Korea December 31 — 22.02 SHBNPP Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust [Infra business] Korea December 31 — 29.19 SHBNPP Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2(USD) Korea December 31 — 71.43 SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No. 1 [Equity securities-Derivative] Korea December 31 — 30.00 Korea Omega-Shinhan Project Fund I (*5) Korea December 31 — 50.00 New Green Shinhan Mezzanine Fund (*5) Korea December 31 — 39.22 KORAMKO-Daum Professional Private Investment Trust No.12 Korea December 31 — 33.33 Samsung SRA Real Estate Professional Private 45[FoFs] Korea December 31 — 25.00 IBK Global New Renewable Energy Special Asset Professional Private2 Korea December 31 — 28.98 VS Cornerstone Fund Korea December 31 — 41.18 Aone Mezzanine Opportunity Professional Private (*7) Korea December 31 — 66.12 KiwoomUnicorn3New Technology Business Investment Fund Korea December 31 — 21.28 Multi Asset The United States Thortons Professional Private1 Korea December 31 — 25.00 Kiwoom Milestone US Real Estate Professional Private20 (*7) Korea December 31 — 75.27 NH-Amundi Korea December 31 — 25.91 KB Distribution Private Real Estate1 (*7) Korea December 31 — 62.00 Investees Country Date of financial Ownership (%) 2019 2020 SHBNPP Jigae Namsan BTO professional Investment Type Private Special Asset Investment Trust [Infra business] Korea December 31 — 28.93 SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No.2 [Loan-Derivative] Korea December 31 — 30.00 Kakao-Shinhan 1st TNYT Fund (*5) Korea December 31 — 48.62 IMM Special Situation 1-2 Korea December 31 — 20.02 Pacific Private Placement Real Estate Fund No.40 Korea December 31 — 24.73 Mastern Private Real Estate Loan Fund No.2 Korea December 31 — 33.57 LB Scotland Amazon Fulfillment Center Fund 29 (*7) Korea December 31 — 70.14 JR AMC Hungary Budapest Office Fund 16 Korea December 31 — 32.57 IGIS 372 Real Estate Professional Private Korea December 31 — 28.39 KoFC-Neoplux R&D-Biz 2013-1 Korea December 31 — 19.00 Future-Creation Neoplux Venture Capital Fund (*4) Korea December 31 — 16.25 Gyeonggi-Neoplux Superman Fund (*4) Korea December 31 — 21.76 NewWave 6th Fund (*4) Korea December 31 — 30.00 Neoplux No.3 Private Equity Fund (*4) Korea December 31 — 10.00 PCC Amberstone Private Equity Fund I Korea December 31 — 21.67 KIAMCO POWERLOAN TRUST 4TH Korea December 31 — 47.37 Mastern Opportunity Seeking Real Estate Fund II Korea December 31 — 20.00 AION ELFIS PROFESSIONAL PRIVATE 1 Korea December 31 — 20.00 T&F 2020 SS Private Equity Fund Specializing in Start-up Korea December 31 — 29.68 Neoplux Market-Frontier Secondary Fund (*4) Korea December 31 — 19.74 Synergy Green New Deal 1st New Technology Business Investment Fund Korea December 31 — 28.17 KAIM Real-estate Private Investment Trust 20 Korea December 31 — 38.46 KIAMCO Vietnam Solar Special Asset Private Investment Trust Korea December 31 — 50.00 CSQUARE SNIPER PROFESSIONAL PRIVATE 10 (*7) Korea December 31 — 62.50 IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-1 Korea December 31 — 97.85 IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-2 Korea December 31 — 97.85 Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 Korea December 31 — 25.00 IGIS Professional Investors Private Investment Real Estate Investment LLC No.395 (*7) Korea December 31 — 58.82 SHBNPP Green New Deal Energy Professional Investment Type Private Special Asset Investment Trust No.2 Korea December 31 — 30.00 Investees Country Date of financial Ownership (%) 2019 2020 Eum Private Equity Fund No.7 Korea December 31 — 21.00 Kiwoom Private Equity Ant-Man Korea December 31 — 25.00 Kiwoom Hero No.4 Private Equity Fund Korea December 31 — 21.05 Vogo Canister Professional Trust Private Fund I Korea December 31 — 36.68 (*1) The latest financial statements are used for the equity method since the financial statements as of December 31, 2020 are not available. Significant trades and events occurred within the period are properly reflected. (*2) The Group applies the equity method accounting as the Group has a significant influence on the investees through important business transactions. (*3) 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 are completed and now the Group can normally exercise its voting rights to the investees. (*4) As a managing partner, the Group has a significant influence over the investees. (*5) 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. (*6) Excluded from the investments in associates due to full or partial disposal of shares, or loss of significant influence. (*7) Although the ownership interests are 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. (*8) Although the ownership percentages are 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. (*9) For the year ended December 31, 2020, the name is changed from ‘Lime Neptune Professional Private 6’ to ‘DB Epic Convertible bond Private Trust No.2’. (*10) The rate of Group’s voting rights is 4.65%. (*11) For the year ended December 31, 2020, it is incorporated into the consolidation target as it held control due to increased equity ratio. (*12) It has a significant influence with a 50% or more stake. However, the full payment guarantee for the investment does not expose the variable profit. Therefore, the investment amount is classified as an investment assets in the associates. |
Changes in investments in associates | (b) Changes in investments in associates for the years ended December 31, 2019 and 2020 are as follows: 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 ) — — — 2019 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance 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 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 3 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 2019 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance Korea Omega Project Fund III W 1,992 — 1,024 — — 3,016 Soo Delivery Platform Growth Fund 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 — 9,888 278 — — 10,166 2019 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance Mastern Private 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 — 10,000 (73 ) — — 9,927 2019 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance 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 724,902 53,287 3,342 — 1,452,861 (*1) The Group has stopped recognizing its equity method income or loss due to the carrying amount of ‘0’ resulting from 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-equity swap in 2019. 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance BNP Paribas Cardif Life Insurance W 52,586 — (928 ) (1,058 ) — 50,600 Songrim Partners (*1) — — — — — — Neoplux Technology Valuation Investment Fund (*3) 16,384 (16,171 ) (213 ) — — — Partners 4th Growth Investment Fund 14,917 (4,474 ) 1,515 — — 11,958 KTB Newlake Global Healthcare PEF 11,280 (1,950 ) 74 — — 9,404 Daekwang Semiconductor Co., Ltd. 3,388 — 243 — — 3,631 Shinhan-Neoplux Energy Newbiz Fund (*4) 7,880 5,887 703 — — 14,470 Shinhan-Albatross tech investment Fund 8,734 4,650 (62 ) — — 13,322 Plutus-SG 4,231 (5,230 ) 999 — — — Eum Private Equity Fund No.3 3,574 (5,621 ) 2,050 — — 3 KTB Confidence Private Placement 6,067 (6,063 ) (4 ) — — — 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance Meritz AI-SingA330-A W 4,256 (772 ) (3,484 ) — — — Meritz AI-SingA330-B 8,916 (48 ) (8,868 ) — — — VOGO Debt Strategy Qualified INV Private 9,930 (1,700 ) 472 — — 8,702 Shinhan-Midas Donga Secondary Fund 3,486 1,150 116 — — 4,752 ShinHan – Soo Young Entrepreneur Investment Fund No.1 4,549 1,495 3,924 — — 9,968 Synergy-Shinhan Mezzanine New Technology Investment Fund 3,912 (4,406 ) 494 — — — Shinhan Praxis K-Growth 10,302 78 (435 ) — — 9,945 Credian Healthcare Private Equity Fund II 2,377 (4,937 ) 8,395 — — 5,835 Kiwoom Milestone Professional Private Real Estate Trust 19 10,407 (265 ) (224 ) — — 9,918 AIP EURO Green Private Real Estate Trust No.3 20,884 (1,189 ) 1,326 — — 21,021 Hanhwa US Equity Strategy Private Real Estate Fund No.1 25,964 (26,907 ) 3,220 — — 2,277 Shinhan Global Healthcare Fund 1 3,209 — 128 — (3,337 ) — JB Power TL Investment Type Private Placement Special Asset Fund 7 16,800 (1,359 ) 745 — — 16,186 IBK AONE convertible 1 6,077 (6,048 ) (29 ) — — — Rico synergy collabo Multi-Mezzanine 3 3,217 (3,221 ) 4 — — — KB NA Hickory Private Special Asset Fund 35,930 (2,609 ) 1,617 — — 34,938 Koramco Europe Core Private Placement Real Estate Fund No.2-2 19,562 (1,330 ) 386 — — 18,618 BNP Paribas Cardif General Insurance 2,113 3,066 (1,244 ) (40 ) — 3,895 Axis Global Growth New Technology Investment Association 3,205 (2,920 ) (285 ) — — — Hermes Private Investment Equity Fund 6,376 — (277 ) — — 6,099 SHC ULMUS Fund No.1 3,149 (3,289 ) 140 — — — Shinhan-Nvestor Liquidity Solution Fund 4,865 (1,004 ) 632 — — 4,493 Shinhan AIM FoF Fund 1a 7,242 1,324 194 — — 8,760 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance IGIS Global Credit Fund 150-1 W 9,718 (4,002 ) 1,566 — — 7,282 GX Shinhan Intervest 1st Private Equity Fund 33,166 (54,515 ) 21,349 — — — Soo Commerce Platform Growth Fund 6,343 (8,474 ) 3,278 — — 1,147 Partner One Value up I Private Equity Fund 11,891 (20 ) (92 ) — — 11,779 Genesis No.1 Private Equity Fund 51,150 388 28,575 — — 80,113 GMB ICT New Technology Investment Fund 7,854 (7,853 ) (1 ) — — — Korea Omega Project Fund III 3,016 — 547 — — 3,563 Soo Delivery Platform Growth Fund 8,922 (7,929 ) 3,075 — — 4,068 Genesis North America Power Company No.1 PEF 18,275 (3,869 ) 2,577 — — 16,983 Hyungje art printing (*1) — — — — — — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 20,712 (10,794 ) 664 — — 10,582 Shinhan-Rhinos 1 Fund 3,029 (1,004 ) 574 — — 2,599 Pacific Private Investment Trust No.20 4,076 (1,289 ) 212 — — 2,999 Susung Mezzanine project P1 Private Investment Trust 5,128 (3,613 ) (170 ) — — 1,345 Korea Finance Security 3,235 — (180 ) — — 3,055 Multimedia Tech Co.Ltd (*1) 19 — (19 ) — — — MIEL CO.,LTD (*1) — — — — — — AIP Transportation Specialized Privately Placed Fund Trust #1 31,580 1,366 47 — — 32,993 DB Epic Convertiblebond Private Trust No.2 5,063 202 520 — — 5,785 PCC S/W 2nd Fund 3,001 (3,328 ) 327 — — — E&Healthcare Investment Fund No.6 7,776 — 7,387 — — 15,163 One Shinhan Global Fund1 4,441 — (412 ) — — 4,029 Kiwoom-Shinhan Innovation Fund I 7,284 7,500 1,185 — — 15,969 Daishin-K&T 7,057 — (57 ) — — 7,000 Midas Asset Global CRE Debt Private Fund No.6 23,731 21,537 2,121 — — 47,389 Richmond Private Investment Trust No.82 15,120 (855 ) 784 — — 15,049 Tiger Alternative Real Estate Professional Private5 19,820 (1,376 ) 55 — — 18,499 Samchully Midstream Private Placement Special Asset Fund 5-4 30,742 (968 ) (956 ) — — 28,818 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 W 53,831 9,253 2,532 — — 65,616 AUCTUS FITRIN Corporate Recovery Private Equity Fund 14,358 (14,484 ) 126 — — — NH-Amundi 18,497 (460 ) 782 — — 18,819 Pacific Private Real Estate Fund Investment Trust No.30 (*3) 14,816 (15,374 ) 558 — — — Jarvis Memorial Private Investment Trust 1 10,166 (763 ) 640 — — 10,043 Mastern Private Private Invetstment Trust 68 9,999 (460 ) 471 — — 10,010 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 4,397 30,510 734 — — 35,641 Milestone Private Real Estate Fund 3 (Derivative Type) 17,186 (838 ) 2,180 — — 18,528 IGIS Private Real Estate Investment Trust 286 9,768 (1,361 ) 437 — — 8,844 Nomura-Rifa Private Real Estate Investment Trust 31 8,914 (932 ) 425 — — 8,407 Lime Pricing Private Equity Fund 8,300 (8,217 ) (83 ) — — — SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 41,991 (29,980 ) 1,312 — — 13,323 DS Solid.II Hedge Fund 4,123 (6,397 ) 2,274 — — — Hana Semiconductor New Technology Fund 12,856 (2,557 ) 13,832 — — 24,131 J&Magnet Startup Venture Specialized Private Equity Fund 5,979 (2,151 ) 2,107 — — 5,935 Cape IT Fund No.3 9,967 (580 ) 1,262 — — 10,649 FuturePlay-Shinhan TechInnovation Fund 1 868 3,661 (234 ) — — 4,295 Stonebridge Corporate 1st Fund 2,981 — 258 — — 3,239 Vogo Realty Partners Private Real Estate Fund V 10,376 (566 ) 1,017 — — 10,827 IL GU FARM CO.,LTD (*1) — — — — — — Korea Credit Bureau 6,812 (90 ) 254 — — 6,976 Goduck Gangil1 PFV Co., Ltd (*1) 48 — (48 ) — — — SBC PFV Co., Ltd 20,000 — (1,792 ) — — 18,208 Sprott Global Renewable Private Equity Fund II 19,016 (18,909 ) (107 ) — — — 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance NH-amundi W 48,158 (1,236 ) (3,083 ) — — 43,839 IMM Global Private Equity Fund 28,925 90,776 1,154 — — 120,855 HANA Alternative Estate Professional Private122 26,205 (644 ) 4,070 — — 29,631 Hanwha-Incus Plus New Technology Fund No.1 5,499 — 5,527 — — 11,026 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] 51,293 (1,613 ) 1,530 — — 51,210 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust 150,317 127,753 8,461 — — 286,531 PSA EMP Private Equity Fund 9,927 (278 ) 165 — — 9,814 Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 29,463 (239 ) 177 — — 29,401 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 3,065 — 376 — — 3,441 VISION US Muni US Local Debt Opportunities Professional Private1 (*3) 9,869 (10,032 ) 163 — — — UI Venture Fund 7th — 3,000 279 — — 3,279 Sparklabs-Shinhan Opportunity Fund 1 — 4,999 (167 ) — — 4,832 BNW Tech-Innovation Private Equity Fund — 6,000 (58 ) — — 5,942 IGIS Real-estate Private Investment Trust No.33 — 13,945 154 — — 14,099 Findvalue PreIPO 6th Professional Investment Type Private Investment Trust. — 3,000 2 — — 3,002 WWG Global Real Estate Investment Trust no.4 — 16,874 878 — — 17,752 Fidelis Global Private Real Estate Trust No.2 — 18,582 903 — — 19,485 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance IGIS PRIVATE REAL ESTATE TRUST NO.331 W — 3,932 (167 ) — — 3,765 AIP EURO PRIVATE REAL ESTATE TRUST No. 12 — 45,082 3,262 — — 48,344 Pebblestone CGV Private Real Estate Trust No.1 — 12,793 553 — — 13,346 Shinhan AIM Real Estate Fund No.2 (*2) — 36,186 (7,652 ) — (6,070 ) 22,464 Shinhan AIM Real Estate Fund No.1 (*2) — 45,415 1,530 — — 46,945 SHBNPP Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust [Infra business] (*2) — 32,258 686 — — 32,944 SHBNPP Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust [Infra business] (*2) — 22,003 (1,101 ) — — 20,902 SHBNPP Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2(USD) — 7,273 (581 ) — — 6,692 SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No. 1 [Equity securities-Derivative] (*2) — 4,859 (14 ) — — 4,845 Korea Omega-Shinhan Project Fund I — 6,000 (69 ) — — 5,931 New Green Shinhan Mezzanine Fund — 4,000 916 — — 4,916 KORAMKO-Daum Professional Private Investment Trust No.12 — 6,930 598 — — 7,528 Samsung SRA Real Estate Professional Private 45[FoFs] — 10,701 (35 ) — — 10,666 IBK Global New Renewable Energy Special Asset Professional Private2 — 29,177 3,172 — — 32,349 VS Cornerstone Fund — 3,500 (36 ) — — 3,464 Aone Mezzanine Opportunity Professional Private — 8,000 1,580 — — 9,580 KiwoomUnicorn3New Technology Business Investment Fund — 3,000 1,283 — — 4,283 Multi Asset The United States Thortons Professional Private1 (*2) — 44,202 (2,762 ) — — 41,440 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance Kiwoom Milestone US Real Estate Professional Private20 W — 49,791 1,721 — — 51,512 NH-Amundi — 24,647 783 — — 25,430 KB Distribution Private Real Estate1 (*2) — 29,984 714 — — 30,698 SHBNPP Jigae Namsan BTO professional Investment Type Private Special Asset Investment Trust [Infra business] (*2) — 19,968 744 — — 20,712 SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No.2 [Loan-Derivative] (*2) — 28,251 898 — — 29,149 Kakao-Shinhan 1st TNYT Fund — 6,000 (319 ) — — 5,681 IMM Special Situation 1-2 — 10,000 870 — — 10,870 Pacific Private Placement Real Estate Fund No.40 — 11,273 374 — — 11,647 Mastern Private Real Estate Loan Fund No.2 — 5,740 (48 ) — — 5,692 LB Scotland Amazon Fulfillment Center Fund 29 — 30,753 429 — — 31,182 JR AMC Hungary Budapest Office Fund 16 — 11,380 824 — — 12,204 IGIS 372 Real Estate Professional Private — 58,200 (1,365 ) — — 56,835 KoFC-Neoplux R&D-Biz 2013-1 — 4,058 (228 ) — — 3,830 Future-Creation Neoplux Venture Capital Fund (*4) — 4,204 (408 ) — — 3,796 Gyeonggi-Neoplux Superman Fund (*4) — 7,665 (1,266 ) — — 6,399 NewWave 6th Fund (*4) — 6,242 (92 ) — — 6,150 Neoplux No.3 Private Equity Fund (*4) — 10,825 (530 ) — — 10,295 PCC Amberstone Private Equity Fund I (*2) — 22,066 414 — — 22,480 KIAMCO POWERLOAN TRUST 4TH — 43,390 565 — — 43,955 Mastern Opportunity Seeking Real Estate Fund II — 19,508 291 — — 19,799 AION ELFIS PROFESSIONAL PRIVATE 1 — 5,000 528 — — 5,528 2020 Investees Beginning balance Investment and dividend Equity method income (loss) Change in other Impairment loss Ending balance T&F 2020 SS Private Equity Fund Specializing in Start-up W — 4,500 (47 ) — — 4,453 Neoplux Market-Frontier Secondary Fund (*4) — 10,974 571 — — 11,545 Synergy Green New Deal 1st New Technology Business Investment Fund — 10,000 8 — — 10,008 KAIM Real-estate Private Investment Trust 20 — 5,000 98 — — 5,098 KIAMCO Vietnam Solar Special Asset Private Investment Trust — 8,150 (202 ) — — 7,948 CSQUARE SNIPER PROFESSIONAL PRIVATE 10 — 3,125 — — — 3,125 IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-1 — 44,780 (9 ) (177 ) — 44,594 IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-2 — 44,780 (9 ) (177 ) — 44,594 Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 — 16,000 (145 ) — — 15,855 IGIS Professional Investors Private Investment Real Estate Investment LLC No.395 — 30,000 (356 ) — — 29,644 SHBNPP Green New Deal Energy Professional Investment Type Private Special Asset Investment Trust No.2 — 21,142 — — — 21,142 Eum Private Equity Fund No.7 — 7,872 — — — 7,872 Kiwoom Private Equity Ant-Man — 5,034 — — — 5,034 Kiwoom Hero No.4 Private Equity Fund — 4,707 — — — 4,707 Vogo Canister Professional Trust Private Fund I (*2) — 43,975 — — — 43,975 Others 85,517 25,966 19,814 (5 ) — 131,292 W 1,452,861 1,056,238 159,533 (1,457 ) (9,407 ) 2,657,768 (*1) The Group has stopped recognizing its equity method income or loss due to the carrying amount of ‘0’ resulting from the investees’ cumulative loss. (*2) Classified as investments in associates without cash transactions. (*3) For the year ended December 31, 2020, it is incorporated into the consolidation target as it held control due to increased equity ratio. (*4) For the year ended December 31, 2020, it is incorporated into the investments in associates as Neoplux Co., Ltd.is incorporated into the consolidation target. |
Condensed statement of financial position information of associates | (c) The statement of financial information as of and for the years ended December 31, 2019 and 2020 are as follows: 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 2019 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) Hanhwa US Equity Strategy Private Real Estate Fund No.1 W 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 0 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 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 ) 2019 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) Korea Finance Security W 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 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 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 ) 2019 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 W 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 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. 2020 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) BNP Paribas Cardif Life Insurance W 3,526,148 3,188,562 38,669 (6,555 ) (7,052 ) (13,607 ) Songrim Partners 1,003 1,065 548 — — — Partners 4th Growth Investment Fund 48,678 846 7,231 6,059 — 6,059 KTB Newlake Global Healthcare PEF 31,005 225 598 244 — 244 Daekwang Semiconductor Co., Ltd. 23,682 6,339 3,836 1,163 — 1,163 Shinhan-Neoplux Energy Newbiz Fund 44,615 25 4,221 1,749 — 1,749 Shinhan-Albatross tech investment Fund 27,685 385 982 594 — 594 Eum Private Equity Fund No.3 20 4 13,445 9,875 — 9,875 Meritz AI-SingA330-A 1 1 89 89 — 89 Meritz AI-SingA330-B 2 2 363 361 — 361 VOGO Debt Strategy Qualified INV Private 43,540 28 6,361 2,359 — 2,359 Shinhan-Midas Donga Secondary Fund 9,504 — 365 233 — 233 ShinHan – Soo Young Entrepreneur Investment Fund No.1 41,532 — 16,561 16,349 — 16,349 Shinhan Praxis K-Growth 52,890 183 201 (2,306 ) — (2,306 ) Credian Healthcare Private Equity Fund II 17,141 15 25,926 24,638 — 24,638 Kiwoom Milestone Professional Private Real Estate Trust 19 58,393 38,558 2,772 (449 ) — (449 ) AIP EURO Green Private Real Estate Trust No.3 98,866 86 6,893 6,231 — 6,231 Hanhwa US Equity Strategy Private Real Estate Fund No.1 5,798 721 32,667 7,180 — 7,180 Shinhan Global Healthcare Fund 1 55 2,104 1,034 (74,736 ) — (74,736 ) JB Power TL Investment Type Private Placement Special Asset Fund 7 48,605 45 23,547 2,251 — 2,251 KB NA Hickory Private Special Asset Fund 93,236 69 13,464 4,312 — 4,312 Koramco Europe Core Private Placement Real Estate Fund No.2-2 46,239 3,948 4,920 877 — 877 BNP Paribas Cardif General Insurance 85,278 33,063 23,632 (7,972 ) (161 ) (8,133 ) Hermes Private Investment Equity Fund 20,919 8 11 (948 ) — (948 ) Shinhan-Nvestor Liquidity Solution Fund 18,032 — 2,704 2,537 — 2,537 Shinhan AIM FoF Fund 1a 35,060 20 4,378 777 — 777 IGIS Global Credit Fund 150-1 29,153 24 10,076 6,263 — 6,263 Soo Commerce Platform Growth Fund 4,661 3 13,172 13,314 — 13,314 2020 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) Partner One Value up I Private Equity Fund W 42,205 — 457 (329 ) — (329 ) Genesis No.1 Private Equity Fund 382,353 31,024 158,070 125,312 — 125,312 Korea Omega Project Fund III 15,141 — 2,383 2,323 — 2,323 Soo Delivery Platform Growth Fund 13,563 3 11,300 10,249 — 10,249 Genesis North America Power Company No.1 PEF 48,221 5,727 6,976 6,449 — 6,449 Hyungje art printing 866 1,130 253 — — — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 46,514 1,164 11,240 2,846 — 2,846 Shinhan-Rhinos 1 Fund 11,561 1 2,784 2,554 — 2,554 Pacific Private Investment Trust No.20 13,805 11 974 974 — 974 Susung Mezzanine project P1 Private Investment Trust 3,220 — 3,412 (373 ) — (373 ) Korea Finance Security 37,522 17,032 118,906 (1,174 ) — (1,174 ) Multimedia Tech Co.Ltd 593 662 555 (158 ) — (158 ) MIEL CO.,LTD 474 559 585 (169 ) — (169 ) AIP Transportation Specialized Privately Placed Fund Trust #1 92,454 101 17,221 132 — 132 DB Epic Convertiblebond Private Trust No.2 11,382 34 1,169 1,021 — 1,021 E&Healthcare Investment Fund No.6 72,023 — 36,332 33,844 — 33,844 One Shinhan Global Fund1 22,244 — 92 (406 ) — (406 ) Kiwoom-Shinhan Innovation Fund I 32,096 158 2,984 2,371 — 2,371 Daishin-K&T 55,501 33,101 64 (183 ) — (183 ) Midas Asset Global CRE Debt Private Fund No.6 115,240 118 7,041 5,153 — 5,153 Richmond Private Investment Trust No.82 49,961 24,879 1,658 1,306 — 1,306 Tiger Alternative Real Estate Professional Private5 38,064 86 7,827 113 — 113 Samchully Midstream Private Placement Special Asset Fund 5-4 67,177 36 8,012 (2,228 ) — (2,228 ) SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 327,973 56 13,607 12,656 — 12,656 NH-Amundi 62,729 1 7,216 2,606 — 2,606 Jarvis Memorial Private Investment Trust 1 10,147 4 651 647 — 647 2020 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) Mastern Private Private Invetstment Trust 68 W 18,620 — 878 877 — 877 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 59,422 20 6,374 1,224 — 1,224 Milestone Private Real Estate Fund 3 57,792 2 7,083 6,797 — 6,797 IGIS Private Real Estate Investment Trust 286 74,406 53,065 5,298 696 — 696 Nomura-Rifa Private Real Estate Investment Trust 31 98,291 71,442 7,584 1,356 — 1,356 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 62,682 45 6,511 6,169 — 6,169 Hana Semiconductor New Technology Fund 111,661 12,346 70,303 56,926 — 56,926 J&Magnet Startup Venture Specialized Private Equity Fund 24,381 50 8,291 8,638 — 8,638 Cape IT Fund No.3 32,448 75 4,145 3,837 — 3,837 FuturePlay-Shinhan TechInnovation Fund 1 8,621 31 5 (469 ) — (469 ) Stonebridge Corporate 1st Fund 7,342 1 679 584 — 584 Vogo Realty Partners Private Real Estate Fund V 50,139 99 8,137 4,701 — 4,701 Korea Credit Bureau 114,571 37,062 93,275 3,992 — 3,992 Goduck Gangil1 PFV Co., Ltd 334,349 348,276 — (10,065 ) — (10,065 ) SBC PFV Co., Ltd 119,994 7,199 — (7,169 ) — (7,169 ) NH-amundi 87,908 230 20,499 (6,215 ) — (6,215 ) IMM Global Private Equity Fund 367,570 1,368 17,222 2,995 — 2,995 HANA Alternative Estate Professional Private122 39,449 38 6,836 5,487 — 5,487 Hanwha-Incus Plus New Technology Fund No.1 25,860 — 13,169 12,961 — 12,961 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] 198,644 87,218 4,479 3,329 — 3,329 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust 395,815 — 14,737 11,688 — 11,688 PSA EMP Private Equity Fund 33,953 97 8 (393 ) — (393 ) Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 57,026 784 13,342 339 — 339 2020 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) BRAIN DO PROFESSIONALE PRIVATE No. 27 W 11,827 12 1,414 1,292 — 1,292 UI Venture Fund 7th 13,466 21 2,044 1,145 — 1,145 Sparklabs-Shinhan Opportunity Fund 1 9,760 — — (340 ) — (340 ) BNW Tech-Innovation Private Equity Fund 20,119 213 45 (194 ) — (194 ) IGIS Real-estate Private Investment Trust No.33 88,319 53,812 1,570 378 — 378 Findvalue PreIPO 6th Professional Investment Type Private Investment Trust 9,505 — 5 5 — 5 WWG Global Real Estate Investment Trust no.4 60,083 12 8,431 2,971 — 2,971 Fidelis Global Private Real Estate Trust No.2 24,901 2 1,902 1,214 — 1,214 IGIS PRIVATE REAL ESTATE TRUST NO.331 57,655 45,417 20 (388 ) — (388 ) AIP EURO PRIVATE REAL ESTATE TRUST No. 12 173,538 783 40,882 13,425 — 13,425 Pebblestone CGV Private Real Estate Trust No.1 63,907 36,405 7,451 1,141 — 1,141 Shinhan AIM Real Estate Fund No.2 75,018 138 7,611 (45,741 ) — (45,741 ) Shinhan AIM Real Estate Fund No.1 223,471 28 22,855 7,284 — 7,284 SHBNPP Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust [Infra business] 149,686 75 3,342 3,117 — 3,117 SHBNPP Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust [Infra business] 71,774 169 4,948 (3,773 ) — (3,773 ) SHBNPP Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2 9,380 12 576 (814 ) — (814 ) SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No. 1 [Equity securities-Derivative] 61,389 45,239 47,240 (46 ) — (46 ) Korea Omega-Shinhan Project Fund I 11,861 — — (139 ) — (139 ) New Green Shinhan Mezzanine Fund 12,538 1 2,387 2,337 — 2,337 KORAMKO-Daum Professional Private Investment Trust No.12 22,740 157 1,949 1,792 — 1,792 2020 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) Samsung SRA Real Estate Professional Private 45[FoFs] W 42,895 230 4,155 (355 ) — (355 ) IBK Global New Renewable Energy Special Asset Professional Private2 116,284 4,679 19,514 10,943 — 10,943 VS Cornerstone Fund 8,413 — 2 (87 ) — (87 ) Aone Mezzanine Opportunity Professional Private 14,530 40 2,507 2,390 — 2,390 KiwoomUnicorn3New Technology Business Investment Fund 20,132 — 6,112 6,031 — 6,031 Multi Asset The United States Thortons Professional Private1 165,775 15 2,111 671 — 671 Kiwoom Milestone US Real Estate Professional Private20 68,591 157 3,508 2,286 — 2,286 NH-Amundi 99,409 1,248 16,758 3,025 — 3,025 KB Distribution Private Real Estate1 50,013 500 1,174 1,151 — 1,151 SHBNPP Jigae Namsan BTO professional Investment Type Private Special Asset Investment Trust [Infra business] 71,647 54 2,677 2,571 — 2,571 SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No.2 [Loan-Derivative] 97,412 248 5,176 2,993 — 2,993 Kakao-Shinhan 1st TNYT Fund 12,014 331 2 (657 ) — (657 ) IMM Special Situation 1-2 54,328 33 4,378 4,344 — 4,344 Pacific Private Placement Real Estate Fund No.40 145,123 98,029 2,554 1,511 — 1,511 Mastern Private Real Estate Loan Fund No.2 17,156 201 98 (143 ) — (143 ) LB Scotland Amazon Fulfillment Center Fund 29 44,483 28 1,975 612 — 612 JR AMC Hungary Budapest Office Fund 16 38,581 1,112 2,531 2,531 — 2,531 IGIS 372 Real Estate Professional Private 628,769 428,577 10,221 (4,808 ) — (4,808 ) KoFC-Neoplux R&D-Biz 2013-1 18,460 2,824 1,673 240 — 240 Future-Creation Neoplux Venture Capital Fund 27,271 4,137 7,270 4,300 — 4,300 Gyeonggi-Neoplux Superman Fund 31,898 186 533 (212 ) — (212 ) NewWave 6th Fund 20,501 — 2,757 1,528 — 1,528 2020 Investees Asset Liability Operating revenue Net profit (loss) Other (loss) Total (loss) Neoplux No.3 Private Equity Fund W 103,712 756 9,114 (7,108 ) — (7,108 ) PCC Amberstone Private Equity Fund I 104,930 1,194 12,280 5,501 — 5,501 KIAMCO POWERLOAN TRUST 4TH 92,817 23 815 1,193 — 1,193 Mastern Opportunity Seeking Real Estate Fund II 99,087 93 1,391 1,453 — 1,453 AION ELFIS PROFESSIONAL PRIVATE 1 27,672 30 2,710 2,642 — 2,642 T&F 2020 SS Private Equity Fund Specializing in Start-up 15,074 73 — (160 ) — (160 ) Neoplux Market-Frontier Secondary Fund 56,363 1,636 1,359 (339 ) — (339 ) Synergy Green New Deal 1st New Technology Business Investment Fund 35,539 12 39 27 — 27 KAIM Real-estate Private Investment Trust 20 13,254 — 254 254 — 254 KIAMCO Vietnam Solar Special Asset Private Investment Trust 15,902 6 — (404 ) — (404 ) CSQUARE SNIPER PROFESSIONAL PRIVATE 10 5,010 10 10 — — — IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-1 45,582 9 — (9 ) — (9 ) IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-2 45,582 9 — (9 ) — (9 ) Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 141,811 93,336 1 1,290 — 1,290 IGIS Professional Investors Private Investment Real Estate Investment LLC No.395 116,853 66,459 — (605 ) — (605 ) SHBNPP Green New Deal Energy Professional Investment Type Private Special Asset Investment Trust No.2 70,487 14 194 180 — 180 Kiwoom Private Equity Ant-Man 20,174 40 4,210 4,134 — 4,134 Kiwoom Hero No.4 Private Equity Fund 22,359 1 — 3,358 — 3,358 Vogo Canister Professional Trust Private Fund I 119,968 76 17,022 4,148 — 4,148 (*) Excluded the financial information of associates that are not subject to equity method due to disposal or of which the financial information is not available as of end of the year. |
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, 2019 and 2020 are as follows: 2019 Investees Net assets (a) Ownership (b) Interests assets (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 2019 Investees Net assets (a) Ownership (b) Interests assets (a)*(b) Intra-group Other Carrying Value Rico synergy collabo Multi-Mezzanine W 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 38 1.82 1 — — 1 BNP Paribas Cardif General Insurance 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 2019 Investees Net assets (a) Ownership (b) Interests assets (a)*(b) Intra-group Other Carrying Value PCC S/W 2nd Fund W 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 40,689 48.71 19,820 — — 19,820 Samchully Midstream Private Placement Special Asset Fund 5-4 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 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 2019 Investees Net assets (a) Ownership (b) Interests assets (a)*(b) Intra-group Other Carrying Value J&Magnet Startup Venture Specialized Private Equity Fund W 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] 111,607 45.96 51,293 — — 51,293 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust 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. 2020 Investees Net assets (a) Ownership Interests (a)*(b) Intra-group Other Carrying Value BNP Paribas Cardif Life Insurance W 337,586 14.99 50,632 (32 ) — 50,600 Songrim Partners (*1) (62 ) 35.34 (22 ) — 22 — Partners 4th Growth Investment Fund 47,832 25.00 11,958 — — 11,958 KTB Newlake Global Healthcare PEF (*2) 30,780 30.00 9,234 — 170 9,404 Daekwang Semiconductor Co., Ltd. 17,343 20.94 3,631 — — 3,631 Shinhan-Neoplux Energy Newbiz Fund 44,590 31.66 14,470 — — 14,470 Shinhan-Albatross tech investment Fund 27,300 49.97 13,322 — — 13,322 Eum Private Equity Fund No.3 16 20.76 3 — — 3 Meritz AI-SingA330-A — 23.89 — — — — Meritz AI-SingA330-B — 20.16 — — — — VOGO Debt Strategy Qualified INV Private 43,512 20.00 8,702 — — 8,702 Shinhan-Midas Donga Secondary Fund 9,504 50.00 4,752 — — 4,752 ShinHan – Soo Young Entrepreneur Investment Fund No.1 41,532 24.00 9,968 — — 9,968 Shinhan Praxis K-Growth 52,707 18.87 9,945 — — 9,945 Credian Healthcare Private Equity Fund II 17,126 34.07 5,835 — — 5,835 Kiwoom Milestone Professional Private Real Estate Trust 19 19,835 50.00 9,918 — — 9,918 AIP EURO Green Private Real Estate Trust No.3 98,780 21.28 21,021 — — 21,021 Hanhwa US Equity Strategy Private Real Estate Fund No.1 5,077 44.84 2,277 — — 2,277 Shinhan Global Healthcare Fund 1 (2,049 ) 4.41 (90 ) — 90 — JB Power TL Investment Type Private Placement Special Asset Fund 7 48,560 33.33 16,186 — — 16,186 KB NA Hickory Private Special Asset Fund 93,167 37.50 34,938 — — 34,938 Koramco Europe Core Private Placement Real Estate Fund No.2-2 42,291 44.02 18,618 — — 18,618 BNP Paribas Cardif General Insurance 52,215 7.46 3,895 — — 3,895 Hermes Private Investment Equity Fund 20,911 29.17 6,099 — — 6,099 Shinhan-Nvestor Liquidity Solution Fund 18,032 24.92 4,493 — — 4,493 Shinhan AIM FoF Fund 1a 35,040 25.00 8,760 — — 8,760 IGIS Global Credit Fund 150-1 29,129 25.00 7,282 — — 7,282 Soo Commerce Platform Growth Fund 4,658 24.62 1,147 — — 1,147 Partner One Value up I Private Equity Fund 42,205 27.91 11,779 — — 11,779 Genesis No.1 Private Equity Fund 351,329 22.80 80,113 — — 80,113 Korea Omega Project Fund III 15,141 23.53 3,563 — — 3,563 Soo Delivery Platform Growth Fund 13,560 30.00 4,068 — — 4,068 2020 Investees Net assets (a) Ownership Interests (a)*(b) Intra-group Other Carrying Value Genesis North America Power Company No.1 PEF W 42,494 39.96 16,983 — — 16,983 Hyungje art printing (*1) (264 ) 31.54 (83 ) — 83 — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 45,350 23.33 10,582 — — 10,582 Shinhan-Rhinos 1 Fund 11,560 22.48 2,599 — — 2,599 Pacific Private Investment Trust No.20 13,794 21.74 2,999 — — 2,999 Susung Mezzanine project P1 Private Investment Trust 3,220 41.31 1,345 — — 1,345 Korea Finance Security 20,490 14.91 3,055 — — 3,055 Multimedia Tech Co.Ltd. (*1) (69 ) 21.06 (15 ) — 15 — MIEL CO.,LTD (*1) (85 ) 28.77 (25 ) — 25 — AIP Transportation Specialized Privately Placed Fund Trust #1 92,353 35.73 32,993 — — 32,993 DB Epic Convertiblebond Private Trust No.2 11,348 50.98 5,785 — — 5,785 E&Healthcare Investment Fund No.6 72,023 21.05 15,163 — — 15,163 One Shinhan Global Fund1 22,244 19.96 4,029 — — 4,029 Kiwoom-Shinhan Innovation Fund I 31,938 50.00 15,969 — — 15,969 Daishin-K&T 22,400 31.25 7,000 — — 7,000 Midas Asset Global CRE Debt Private Fund No.6 115,122 41.16 47,389 — — 47,389 Richmond Private Investment Trust No.82 25,082 60.00 15,049 — — 15,049 Tiger Alternative Real Estate Professional Private5 37,978 48.71 18,499 — — 18,499 Samchully Midstream Private Placement Special Asset Fund 5-4 67,141 42.92 28,818 — — 28,818 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 327,917 20.00 65,616 — — 65,616 NH-Amundi 62,728 30.00 18,819 — — 18,819 Jarvis Memorial Private Investment Trust 1 10,143 99.01 10,043 — — 10,043 Mastern Private Private Invetstment Trust 68 18,620 53.76 10,010 — — 10,010 Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 59,402 60.00 35,641 — — 35,641 Milestone Private Real Estate Fund 3 57,790 32.06 18,528 — — 18,528 IGIS Private Real Estate Investment Trust 286 21,341 41.44 8,844 — — 8,844 Nomura-Rifa Private Real Estate Investment Trust 31 26,849 31.31 8,407 — — 8,407 SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.2 62,637 21.27 13,323 — — 13,323 2020 Investees Net assets (a) Ownership Interests (a)*(b) Intra-group Other Carrying Value Hana Semiconductor New Technology Fund W 99,315 24.30 24,131 — — 24,131 J&Magnet Startup Venture Specialized Private Equity Fund 24,331 24.39 5,935 — — 5,935 Cape IT Fund No.3 32,373 32.89 10,649 — — 10,649 FuturePlay-Shinhan TechInnovation Fund 1 8,590 50.00 4,295 — — 4,295 Stonebridge Corporate 1st Fund 7,341 44.12 3,239 — — 3,239 Vogo Realty Partners Private Real Estate Fund V 50,040 21.64 10,827 — — 10,827 Korea Credit Bureau 77,509 9.00 6,976 — — 6,976 Goduck Gangil1 PFV Co., Ltd (*1) (13,927 ) 1.04 (145 ) — 145 — SBC PFV Co., Ltd 112,795 25.00 18,208 — — 18,208 NH-amundi 87,678 50.00 43,839 — — 43,839 IMM Global Private Equity Fund 366,202 33.00 120,855 — — 120,855 HANA Alternative Estate Professional Private122 39,411 75.19 29,631 — — 29,631 Hanwha-Incus Plus New Technology Fund No.1 25,860 42.64 11,026 — — 11,026 SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] 111,426 45.96 51,210 — — 51,210 SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust 395,815 72.39 286,531 — — 286,531 PSA EMP Private Equity Fund 33,856 28.99 9,814 — — 9,814 Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 56,242 52.28 29,401 — — 29,401 BRAIN DO PROFESSIONALE PRIVATE No. 27 11,815 29.13 3,441 — — 3,441 UI Venture Fund 7th 13,445 24.39 3,279 — — 3,279 Sparklabs-Shinhan Opportunity Fund 1 9,760 49.50 4,832 — — 4,832 BNW Tech-Innovation Private Equity Fund 19,906 29.85 5,942 — — 5,942 IGIS Real-estate Private Investment Trust No.33 34,507 40.86 14,099 — — 14,099 Findvalue PreIPO 6th Professional Investment Type Private Investment Trust. 9,505 31.58 3,002 — — 3,002 WWG Global Real Estate Investment Trust no.4 60,071 29.55 17,752 — — 17,752 Fidelis Global Private Real Estate Trust No.2 24,899 78.26 19,485 — — 19,485 IGIS PRIVATE REAL ESTATE TRUST NO.331 12,238 30.77 3,765 — — 3,765 AIP EURO PRIVATE REAL ESTATE TRUST No. 12 172,755 28.70 48,344 — — 48,344 2020 Investees Net assets (a) Ownership Interests (a)*(b) Intra-group Other Carrying Value Pebblestone CGV Private Real Estate Trust No.1 W 27,502 48.53 13,346 — — 13,346 Shinhan AIM Real Estate Fund No.2 74,880 30.00 22,464 — — 22,464 Shinhan AIM Real Estate Fund No.1 223,443 21.01 46,945 — — 46,945 SHBNPP Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust [Infra business] 149,611 22.02 32,944 — — 32,944 SHBNPP Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust [Infra business] 71,605 29.19 20,902 — — 20,902 SHBNPP Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2 9,368 71.43 6,692 — — 6,692 SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No. 1 [Equity securities-Derivative] 16,150 30.00 4,845 — — 4,845 Korea Omega-Shinhan Project Fund I 11,861 50.00 5,931 — — 5,931 New Green Shinhan Mezzanine Fund 12,537 39.22 4,916 — — 4,916 KORAMKO-Daum Professional Private Investment Trust No.12 22,583 33.33 7,528 — — 7,528 Samsung SRA Real Estate Professional Private 45[FoFs] 42,665 25.00 10,666 — — 10,666 IBK Global New Renewable Energy Special Asset Professional Private2 111,605 28.98 32,349 — — 32,349 VS Cornerstone Fund 8,413 41.18 3,464 — — 3,464 Aone Mezzanine Opportunity Professional Private 14,490 66.12 9,580 — — 9,580 KiwoomUnicorn3New Technology Business Investment Fund 20,132 21.28 4,283 — — 4,283 Multi Asset The United States Thortons Professional Private1 (*2) 165,760 25.00 41,440 — — 41,440 Kiwoom Milestone US Real Estate Professional Private20 68,434 75.27 51,512 — — 51,512 NH-Amundi 98,161 25.91 25,430 — — 25,430 KB Distribution Private Real Estate1 (*2) 49,513 62.00 30,698 — — 30,698 SHBNPP Jigae Namsan BTO professional Investment Type Private Special Asset Investment Trust [Infra business] (*2) 71,593 28.93 20,712 — — 20,712 2020 Investees Net assets (a) Ownership Interests (a)*(b) Intra-group Other Carrying Value SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No.2 [Loan-Derivative] (*2) W 97,164 30.00 29,149 — — 29,149 Kakao-Shinhan 1st TNYT Fund 11,683 48.62 5,681 — — 5,681 IMM Special Situation 1-2 54,295 20.02 10,870 — — 10,870 Pacific Private Placement Real Estate Fund No.40 47,094 24.73 11,647 — — 11,647 Mastern Private Real Estate Loan Fund No.2 16,955 33.57 5,692 — — 5,692 LB Scotland Amazon Fulfillment Center Fund 29 44,455 70.14 31,182 — — 31,182 JR AMC Hungary Budapest Office Fund 16 37,469 32.57 12,204 — — 12,204 IGIS 372 Real Estate Professional Private 200,192 28.39 56,835 — — 56,835 KoFC-Neoplux R&D-Biz 2013-1 15,636 19.00 3,830 — — 3,830 Future-Creation Neoplux Venture Capital Fund 23,134 16.25 3,796 — — 3,796 Gyeonggi-Neoplux Superman Fund 31,712 21.76 6,399 — — 6,399 NewWave 6th Fund 20,501 30.00 6,150 — — 6,150 Neoplux No.3 Private Equity Fund 102,956 10.00 10,295 — — 10,295 PCC Amberstone Private Equity Fund I 103,736 21.67 22,480 — — 22,480 KIAMCO POWERLOAN TRUST 4TH 92,794 47.37 43,955 — — 43,955 Mastern Opportunity Seeking Real Estate Fund II 98,994 20.00 19,799 — — 19,799 AION ELFIS PROFESSIONAL PRIVATE 1 27,642 20.00 5,528 — — 5,528 T&F 2020 SS Private Equity Fund Specializing in Start-up 15,001 29.68 4,453 — — 4,453 Neoplux Market-Frontier Secondary Fund 54,727 19.74 11,545 — — 11,545 Synergy Green New Deal 1st New Technology Business Investment Fund 35,527 28.17 10,008 — — 10,008 KAIM Real-estate Private Investment Trust 20 13,254 38.46 5,098 — — 5,098 KIAMCO Vietnam Solar Special Asset Private Investment Trust 15,896 50.00 7,948 — — 7,948 CSQUARE SNIPER PROFESSIONAL PRIVATE 10 5,000 62.50 3,125 — — 3,125 IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-1 45,573 97.85 44,594 — — 44,594 IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-2 45,573 97.85 44,594 — — 44,594 Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 48,475 25.00 15,855 — — 15,855 2020 Investees Net assets (a) Ownership Interests (a)*(b) Intra-group Other Carrying Value IGIS Professional Investors Private Investment Real Estate Investment LLC No.395 W 50,394 58.82 29,644 — — 29,644 SHBNPP Green New Deal Energy Professional Investment Type Private Special Asset Investment Trust No.2 70,473 30.00 21,142 — — 21,142 Kiwoom Private Equity Ant-Man 20,134 25.00 5,034 — — 5,034 Kiwoom Hero No.4 Private Equity Fund 22,358 21.05 4,707 — — 4,707 Vogo Canister Professional Trust Private Fund I 119,892 36.68 43,975 — — 43,975 Others 519,091 139,164 — — 139,164 W 8,101,037 2,657,250 (32 ) 550 2,657,768 (*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. |
The unrecognized and cumulative unrecognized equity method losses | (e) The unrecognized equity method losses as of and for the years ended December 31, 2019 and 2020 are as follows: 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 (183 ) (229 ) 2020 Investees Unrecognized equity Cumulative unrecognized Songrim Partners. W — (22 ) Multimedia Tech Co.Ltd (15 ) (15 ) Hyungje art printing (83 ) (83 ) MIEL CO.,LTD (25 ) (25 ) Goduck Gangil1 PFV Co., Ltd (145 ) (145 ) W (268 ) (290 ) |
Investment properties, net (Tab
Investment properties, net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investment properties, net [Abstract] | |
Investment properties | (a) Investment properties as of December 31, 2019 and 2020 are as follows: 2019 2020 Acquisition cost W 605,773 767,118 Accumulated depreciation (117,163 ) (151,883 ) Carrying value W 488,610 615,235 |
Changes in investment properties | (b) Changes in investment properties for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Beginning balance W 474,820 488,610 Acquisition 2,767 244,100 Disposal (73,588 ) (92,337 ) Depreciation (17,565 ) (20,165 ) Amounts transferred from (to) property and equipment 104,573 (4,064 ) Amounts transferred to assets held for sale (*) (15,795 ) (910 ) Foreign currency adjustment (169 ) 1 Business combination (Note 47) 13,567 — Ending balance W 488,610 615,235 (*) Comprise land and buildings, etc. |
Income and expenses on investment property | (c) Income and expenses on investment property for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Rental income W 32,488 43,777 23,890 Direct operating expenses for investment properties that generated rental income 12,191 12,107 11,951 |
The fair value of investment property | (d) The fair value of investment property as of December 31, 2019 and 2020 is as follows: 2019 2020 Land and buildings (*) W 1,062,195 1,254,149 (*) Fair value of investment properties is estimated based in the recent market transaction conditions with an independent third party 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, 2020 | |
Other assets, net [Abstract] | |
Other assets | (a) Other assets as of December 31, 2019 and 2020 are as follows: 2019 2020 Accounts receivable W 9,355,388 12,511,880 Domestic exchange settlement debit 4,337,628 4,055,744 Guarantee deposits 1,184,572 1,145,045 Present value discount on guarantee deposits (45,316 ) (33,062 ) Accrued income 2,612,823 2,535,847 Prepaid expense 193,849 202,218 Provisional payments 71,764 183,935 Sundry assets 93,766 106,341 Separate account assets 8,253,351 9,267,722 Advance payments 317,365 203,023 Unamortized deferred acquisition cost 907,868 979,942 Others 661,998 1,118,926 Allowances for credit loss of other assets (66,775 ) (82,895 ) W 32,194,666 |
Changes in unamortized deferred acquisition cost by insurance type | (b) Changes in unamortized deferred acquisition cost by insurance type for the year ended December 31, 2020 are as follows: 2020 Beginning Acquisition cost incurred Amortization Ending Cost Expensed Deferral Individual insurance Pure endowment insurance W 67,856 11,602 (6,450 ) 5,152 (35,504 ) 37,504 Death insurance 834,415 771,973 (298,355 ) 473,618 (375,111 ) 932,922 Endowment insurance 4,764 19,024 (11,001 ) 8,023 (3,862 ) 8,925 907,035 802,599 (315,806 ) 486,793 (414,477 ) 979,351 Group insurance Pure protection 833 343 (164 ) 179 (421 ) 591 W 907,868 802,942 (315,970 ) 486,972 (414,898 ) 979,942 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Gross investment and present value of minimum lease payment of finance lease | (a) Gross investment and present value of minimum lease payment of finance lease as of December 31, 2019 and 2020, are as follows: 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 for the year ended December 31, 2019 is W74,933 million. 2020 Gross investment Unearned finance Present value of Not later than 1 year W 678,790 73,230 605,560 1 ~ 2 years 527,757 43,701 484,056 2 ~ 3 years 391,447 21,169 370,278 3 ~ 4 years 219,040 6,089 212,951 4 ~ 5 years 93,975 432 93,543 Later than 5 years 6,320 53 6,267 W 1,917,329 144,674 1,772,655 (*) Interest income on finance lease receivables recognized for the year ended December 31, 2020 is W76,742 million. |
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Finance lease | i) Finance lease 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 2020 Minimum lease Present value Present value of Not later than 1 year W 678,790 73,230 605,560 1 ~ 2 years 527,757 43,701 484,056 2 ~ 3 years 391,447 21,169 370,278 3 ~ 4 years 219,040 6,089 212,951 4 ~ 5 years 93,975 432 93,543 Later than 5 years 6,320 53 6,267 W 1,917,329 144,674 1,772,655 |
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Operating lease | ii) Operating lease Minimum lease payment 2019 2020 Not later than 1 year W 142,140 276,590 1 ~ 2 years 118,781 233,443 2 ~ 3 years 76,379 182,261 3 ~ 4 years 37,047 124,556 4 ~ 5 years 14,984 52,997 Later than 5 years 83 95,414 W 389,414 965,261 |
The changes in operating lease assets | (c) Changes in operating lease assets for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Beginning balance W 370,868 549,741 Acquisition 411,971 681,607 Disposal (134,810 ) (54,042 ) Depreciation (98,288 ) (163,006 ) Ending balance W 549,741 1,014,300 |
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 2020 Acquisition Accumulated Carrying Real estate W 953,135 (396,716 ) 556,419 Vehicle 36,680 (16,059 ) 20,621 Others 26,368 (12,991 ) 13,377 W (425,766) 590,417 |
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 Acquisition 781,097 16,523 8,163 805,783 Disposal (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 30,837 584 168 31,589 Ending balance W 1,077,803 21,994 12,999 1,112,796 2020 Real estate Vehicle Others Total Beginning balance W 1,077,803 21,994 12,999 1,112,796 Acquisition 286,981 12,556 6,421 305,958 Disposal (21,763 ) (2,394 ) (16 ) (24,173 ) Depreciation (268,376 ) (11,625 ) (6,027 ) (286,028 ) Substitution (513,437 ) — — (513,437 ) Effects of foreign currency movements (5,375 ) (5 ) — (5,380 ) Business combination (Note 47) 586 95 — 681 Ending balance W 556,419 20,621 13,377 590,417 |
The maturity of the lease liability | (f) The details of the maturity of the lease liability as of December 31, 2019 and 2020 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. 2020 1 month 1 month ~ 3 months ~ 6 months ~ 1 year ~ More than Total Real estate W 22,560 36,746 49,746 90,057 287,932 69,083 556,124 Vehicle 3,404 1,840 2,490 4,765 11,632 — 24,131 Others 520 806 1,203 2,031 9,345 1 13,906 W 39,392 53,439 96,853 308,909 69,084 594,161 |
The lease payments for low-value assets and short-term leases | (g) The lease payments for low-value 2019 2020 Low-value W 5,045 6,181 Short-term lease (*) 907 836 Total W 5,952 7,017 (*) The payments for leases with terms less than 1 month are included. |
Pledged assets (Tables)
Pledged assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Pledged assets [Abstract] | |
Assets pledged as collateral | (a) Assets pledged as collateral as of December 31, 2019 and 2020 are as follows: 2019 2020 Reasons for collateral Loans at amortized cost W 128,163 — Borrowings Securities: Securities at FVTPL 15,016,057 15,328,573 Customer RP Securities at FVOCI 2,387,555 4,058,033 Borrowings, Settlement security for Bank of Korea, Borrowing securities, etc Securities at amortized cost 12,791,744 14,516,567 Borrowings, Settlement security for Bank of Korea, Customer RP, etc 30,195,356 33,903,173 Deposits at amortized cost 1,090,161 784,626 Borrowings Property and Equipment (real estate) 121,446 301,098 Set for near mortgage, etc Other financial assets 404 355 Performance guarantee, etc W 31,535,530 34,989,252 (*) 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 2019 Collateral held The fair value of re-provided as collateral Assets pledged Assets received Securities W 9,240,573 2,007,036 — 2020 Collateral held The fair value of re-provided as collateral Assets pledged Assets received Securities W 10,487,095 2,871,910 — |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Deposits [Abstract] | |
Deposits | 20. Deposits Deposits as of December 31, 2019 and 2020 are as follows: 2019 2020 Demand deposits: Korean won W 103,048,895 132,444,929 Foreign currencies 13,233,812 16,280,268 116,282,707 148,725,197 Time deposits: Korean won 139,824,896 137,719,464 Foreign currencies 18,602,551 20,114,427 158,427,447 157,833,891 Certificates of deposits 9,707,791 5,946,704 Discount note deposits 4,579,587 6,226,937 CMA 3,987,372 4,006,319 Others 1,889,352 3,677,820 W 294,874,256 326,416,868 |
Financial liabilities at fair_2
Financial liabilities at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2019 and 2020 are as follows: 2019 2020 Securities sold: Stocks W 298,008 387,857 Bonds 825,942 503,920 Others 40,747 5,352 1,164,697 897,129 Gold/silver deposits 467,760 539,565 W 1,632,457 1,436,694 |
Financial liabilities designa_2
Financial liabilities designated at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial liabilities designated at fair value through profit or loss [Abstract] | |
Financial liabilities designated at fair value through profit or loss | 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, 2019 and 2020 are as follows: 2019 2020 Reason for designation Equity-linked securities sold W 6,880,811 6,556,288 Combined instrument Securities sold with embedded derivatives 2,528,645 1,899,436 W 9,409,456 8,455,724 (*) 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 (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Borrowings [Abstract] | |
Borrowings | 23. Borrowings Borrowings as of December 31, 2019 and 2020 are as follows: 2019 2020 Interest Amount Interest Amount Borrowings denominated in Korean won: Borrowings from Bank of Korea 0.50~0.75 W 2,429,346 0.25 W 5,351,110 Others 0.00~6.00 14,202,096 0.00~6.20 16,375,272 16,631,442 21,726,382 Borrowings denominated in foreign currencies: Overdraft due from banks 0.00 86,791 0.00 71,309 Borrowings from banks 0.11~7.50 6,576,849 0.00~8.00 5,423,571 Others 1.94~13.65 1,748,031 0.00~12.45 1,538,021 8,411,671 7,032,901 Call money 0.00~ 5.25 712,247 0.35~ 0.55 1,760,042 Bill of sale 0.80~ 1.60 19,070 0.00~ 1.10 10,706 Bonds sold under repurchase agreements: 0.95~ 5.40 9,089,736 0.00~ 5.15 11,065,584 Deferred origination costs (1,010 ) (1,551 ) W 34,863,156 W 41,594,064 |
Debt securities issued (Tables)
Debt securities issued (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Debt securities issued [Abstract] | |
Debt securities issued | 24. Debt securities issued Debt securities issued as of December 31, 2019 and 2020 are as follows: 2019 2020 Interest Amount Interest Amount Debt securities issued in Korean won: Debt securities issued 0.71~8.00 W 60,501,093 0.67~8.00 W 59,816,756 Subordinated debt securities issued 2.20~4.60 4,370,145 2.20~4.60 4,370,125 Gain on fair value hedges — (87,692 ) — (63,652 ) Discount on debt securities issued — (66,334 ) — (39,309 ) 64,717,212 64,083,920 Debt securities issued in foreign currencies: Debt securities issued 0.01~7.59 6,750,085 0.25~7.59 7,182,619 Subordinated debt securities issued 3.34~5.10 3,797,536 3.34~5.10 3,598,624 Loss on fair value hedges — 141,264 — 309,880 Discount on debt securities issued — (42,733 ) — (40,649 ) 10,646,152 11,050,474 W 75,363,364 W 75,134,394 |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Defined benefit plan assets and liabilities [Abstract] | |
Defined benefit plan assets and liabilities | (a) Defined benefit obligations and plan assets The Group has operated a defined benefit plan and calculates defined benefit obligations based on the employee’s pension compensation benefits and service period. Defined benefit obligations and plan assets as of December 31, 2019 and 2020 are as follows: 2019 2020 Present value of defined benefit obligations W 2,063,102 2,182,464 Fair value of plan assets (1,943,644 ) (2,138,324 ) Recognized liabilities for defined benefit obligations (*) W 119,458 44,140 (*) The net defined benefit obligation of W W W 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, 2019 and 2020 are as follows: 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 loss 216 — 216 Business combination (Note 47) 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 2020 Defined benefit Plan assets Net defined Beginning balance W 2,063,102 (1,943,644 ) 119,458 Included in profit or loss: Current service cost 179,390 — 179,390 Past service cost 9,069 — 9,069 Interest expense (income) 57,674 (55,466 ) 2,208 Settlement expense (306 ) — (306 ) 245,827 (55,466 ) 190,361 Included in other comprehensive income: Remeasurement loss (gain): - Actuarial gains (losses) arising from : Demographic assumptions 18 — 18 Financial assumptions (44,424 ) — (44,424 ) Experience adjustment 2,957 — 2,957 - Return on plan assets excluding interest income — 20,027 20,027 (41,449 ) 20,027 (21,422 ) Other: Benefits paid by the plan (83,614 ) 77,567 (6,047 ) Contributions paid into the plan (268 ) (239,570 ) (239,838 ) Settlement gain or loss (2,695 ) 4,053 1,358 Business combination (Note 47) 2,139 (1,291 ) 848 Effect of movements in exchange rates (578 ) — (578 ) (85,016 ) (159,241 ) (244,257 ) Ending balance W 2,182,464 (2,138,324 ) 44,140 (*) 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, 2019 and 2020 are as follows: 2019 2020 Plan assets comprise: Equity securities W 256,353 74,631 Debt securities 28,094 23,713 Due from banks 1,577,274 1,900,963 Others 81,923 139,017 W 1,943,644 2,138,324 |
Actuarial assumptions | (d) Actuarial assumptions as of December 31, 2019 and 2020 are as follows: 2019 2020 Description Discount rate 2.71%~3.17% 2.68%~3.30% AA0 corporate bond yields Future salary increase rate 1.80%~4.00% + Upgrade rate 1.90%~4.00% + Upgrade rate Average for 5 years Weighted average maturity 8.2 years~ 16.2 years 7.6 years~ 15.4 years |
Sensitivity analysis | (e) Sensitivity analysis As of December 31, 2019 and 2020, 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. 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 ) 2020 Defined benefit obligation Increase Decrease Discount rate (1%p movement) W (207,093 ) 233,570 Future salary increase rate (1%p movement) 232,892 (210,305 ) |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Provisions [Abstract] | |
Provisions | (a) Provisions as of December 31, 2019 and 2020 are as follows: 2019 2020 Asset retirement obligations W 64,922 65,659 Expected loss related to litigation 8,789 12,468 Unused credit commitments 263,752 305,719 Financial guarantee contracts issued 100,430 83,851 Others 119,131 337,039 W 557,024 804,736 |
Changes in provision 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, 2019 and 2020 are as follows:. 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 2020 Unused credit commitments Financial guarantee contracts issued Total 12 months Life time Impaired financial asset 12 months Life time Impaired Beginning allowance W 132,028 119,839 11,885 68,467 5,569 811 338,599 Transfer to 12 months expected credit loss 63,818 (55,295 ) (8,523 ) 2,059 (2,059 ) — — Transfer to life time expected credit loss (9,883 ) 11,365 (1,482 ) (3,951 ) 3,951 — — Transfer to impaired financial asset (244 ) (875 ) 1,119 — — — — Provided (reversed) (20,377 ) 65,455 (1,564 ) 8,258 1,845 (822 ) 52,795 FX change (1,195 ) (352 ) — (1,335 ) (223 ) (49 ) (3,154 ) Others (*) — — — (18,948 ) (1,748 ) 70 (20,626 ) Ending balance W 164,147 140,137 1,435 54,550 7,335 10 367,614 (*) 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, 2019 and 2020 are as follows: 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 14,473 1,581 — 81,928 97,982 Ending balance W 64,922 8,789 25,583 119,131 218,425 2020 Asset Litigation Guarantee Other Total Beginning balance W 64,922 8,789 25,583 119,131 218,425 Provision(reversal) 898 4,317 (2,709 ) 261,983 264,489 Provision used (2,463 ) (638 ) — (46,654 ) (49,755 ) Foreign exchange translation (3 ) — (1,030 ) 570 (463 ) Others (*) 2,305 — 112 1,814 4,231 Business combination (Note 47) — — — 195 195 Ending balance W 65,659 12,468 21,956 337,039 437,122 (*) 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, 2019 and 2020 are as follows: 2019 2020 Outstanding guarantees and acceptances W 9,319,885 10,249,827 Contingent guarantees and acceptances 3,669,697 3,433,953 ABS and ABCP purchase commitments 2,116,354 1,604,958 Endorsed bill 11,287 1,650 W 15,117,223 15,290,388 Allowance for loss on guarantees and acceptances W 100,430 83,851 Ratio %0.66 0.55 |
Liability under insurance con_2
Liability under insurance contracts (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Liability under insurance contracts [Abstract] | |
Insurance liabilities | (a) Insurance liabilities as of December 31, 2019 and 2020 are as follows: 2019 2020 Policy reserve W 52,086,132 53,391,401 Policyholder’s equity adjustment 77,285 68,829 W 52,163,417 53,460,230 |
Policy reserve | (b) Policy reserve as of December 31, 2019 and 2020 are as follows: 2019 2020 Interest rate linked W 30,058,020 29,977,303 Fixed interest rate 22,028,112 23,414,098 W 52,086,132 53,391,401 |
The details of policy reserves | (c) The details of policy reserves as of December 31, 2019 and 2020 are as follows: 2019 Individual insurance Group insurance Pure 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 2020 Individual insurance Group insurance Pure endowment Death Endowment Subtotal Pure Savings Subtotal Total Premium reserve W 14,597,735 26,634,537 9,981,880 51,214,152 18,430 62 18,492 51,232,644 Guarantee reserve 28,168 267,154 762 296,084 — — — 296,084 Unearned premium reserve 1 1,640 — 1,641 13 — 13 1,654 Reserve for outstanding claims 240,324 1,111,052 363,688 1,715,064 15,384 — 15,384 1,730,448 Interest rate difference guarantee reserve 1,937 141 9 2,087 — — — 2,087 Mortality gains reserve 7,865 37,553 124 45,542 1 — 1 45,543 Interest gains reserve 23,651 256 14 23,921 — — — 23,921 Expense gains reserve 6,606 8,336 — 14,942 — — — 14,942 Long term duration dividend reserve 28,737 13,775 12 42,524 — — — 42,524 Reserve for policyholder’s profit dividend 1,080 — — 1,080 — — — 1,080 Reserve for losses on dividend insurance contract 474 — — 474 — — — 474 W 14,936,578 28,074,444 10,346,489 53,357,511 33,828 62 33,890 53,391,401 |
Changes in policy reserves | (d) Changes in policy reserves Changes in policy reserves for the year ended December 31, 2020 are as follows: 2020 Insurance fixed-interest Insurance variable-interest Total Beginning balance W 22,028,112 30,058,020 52,086,132 Reserve (*) 1,385,986 (80,717 ) 1,305,269 Ending balance W 23,414,098 29,977,303 53,391,401 (*) This is the amount of provision for insurance contract liabilities less changes in reinsurance assets. |
Changes in policy reserves by insurance risk classification | (e) Changes in policy reserves by insurance risk classification Changes in insurance contract liabilities by insurance risk classification for the year ended December 31, 2020 are as follows: 2020 Individual insurance Group insurance Pure Death Endowment Sub-total Pure Savings Sub-total Total Beginning balance W 14,986,916 26,382,609 10,677,484 52,047,009 39,063 60 39,123 52,086,132 Reserve (reversal) (*) (50,338 ) 1,691,835 (330,995 ) 1,310,502 (5,235 ) 2 (5,233 ) 1,305,269 Ending balance W 14,936,578 28,074,444 10,346,489 53,357,511 33,828 62 33,890 53,391,401 (*) This is the amount of provision for insurance contract liabilities less changes in reinsurance assets. |
Reinsurance credit risk | (f) Reinsurance credit risk as of December 31, 2019 and 2020 are as follows: 2019 2020 Reinsurance Reinsurance Reinsurance Reinsurance AAA W 11,477 18,192 10,611 47,690 AA- 34,498 46,302 29,294 23,348 A- 2,287 4,113 2,375 4,018 W 48,262 68,607 42,280 75,056 |
Income or expenses on insurance | (g) Income or expenses on insurance for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Insurance income: Premium income W 4,348,745 7,386,854 7,037,308 Reinsurance income 15,222 146,564 152,892 Separate account income 34,771 36,007 57,553 4,398,738 7,569,425 7,247,753 Insurance expenses: Claims paid 2,549,147 5,436,069 5,564,875 Reinsurance premium expenses 18,482 165,979 167,215 Provision for policy reserves (*) 1,694,716 1,724,816 1,311,252 Separate account expenses 34,770 36,007 57,553 Discount charge 669 657 1,087 Acquisition costs 454,479 805,508 802,942 Collection expenses 16,046 19,049 18,835 Deferred acquisition costs (283,665 ) (495,534 ) (486,972 ) Amortization of deferred acquisition costs 385,793 373,800 414,898 4,870,437 8,066,351 7,851,685 Net loss on insurance W (471,699 ) (496,926 ) (603,932 ) (*) Interest expenses on savings insurance contracts are included. (Accumulated W W W |
Maturity of premium reserve | (h) Maturity of premium reserve as of December 31, 2019 and 2020 are as follows: 2019 Less than or 1 ~ 3 3 ~ 7 7 ~ 10 10 ~ 20 More than Total Interest rate linked W 845,304 2,079,125 2,118,652 941,413 2,236,313 20,732,909 28,953,716 Fixed interest rate 213,892 329,647 1,032,366 572,153 2,058,859 16,953,339 21,160,256 Ending balance W 1,059,196 2,408,772 3,151,018 1,513,566 4,295,172 37,686,248 50,113,972 2020 Less than or 1 ~ 3 3 ~ 7 7 ~ 10 10 ~ 20 More than Total Interest rate linked W 929,268 1,944,710 1,819,554 820,964 2,056,906 19,729,536 27,300,938 Fixed interest rate 164,890 418,574 983,635 594,667 2,090,669 19,679,271 23,931,706 Ending balance W 1,094,158 2,363,284 2,803,189 1,415,631 4,147,575 39,408,807 51,232,644 |
The result of liability adequacy test | (i) Liability adequacy test, LAT – Shinhan Life Insurance Co., Ltd. i) Scope Liability adequacy tests are performed on the premium reserve, unearned premium reserve and guarantee reserve for the contracts held at December 31, 2019 and 2020. 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, interest rate(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 main assumptions and basis for calculation The main assumptions and basis for calculation used to calculate the current estimation of future cash flows in the liability adequacy test as of December 31, 2019 and 2020 are as follows: The criteria for liability adequacy test of insurance contracts have been changed for the year ended December 31, 2020. Therefore, the Group applied the change in accounting policies as it has judged that the changed in the criteria for liability adequacy test of insurance contracts would provide more reliable and relevant information about the current estimates of future cash flows. This change in accounting policy has no effect on the consolidated financial statements, but comparative notes have been adjusted. Assumptions January 1, 2019 December 31, December 31, 2020 Measurement basis Discount rate 2.10% ~ 7.45% 1.04% ~ 5.79% 1.30% ~ 12.01% 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% 10.38% ~ 585.90% 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% Acquisition cost - The first time : 90.00% ~ 1,022.75% - From the second time : 0.00% ~ 193.50% Maintenance expense (each case): 1,559 won ~ 4,675 won Collection expenses (on gross premium): 0.06% ~ 1.28% 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% 0.53% ~ 29.83% Surrender ratio by elapsed period, classes of sales channel, product of last 5 years iv) The result of liability adequacy test as of January 1, 2019, December 31, 2019 and 2020 are as follows: January 1, 2019 Provisions for test LAT base Premium surplus Participating – Fixed interest W 589,618 1,382,718 (793,100 ) Non- 6,009,771 2,850,853 3,158,918 Participating – Variable interest 859,858 962,368 (102,510 ) Non- 14,008,270 12,532,933 1,475,337 Variable type 143,230 (122,055 ) 265,285 W 21,610,747 17,606,817 4,003,930 December 31, 2019 Provisions for test LAT base Premium surplus Participating – Fixed interest W 595,317 1,307,717 (712,400 ) Non- 6,608,221 3,168,333 3,439,888 Participating – Variable interest 900,378 1,039,624 (139,246 ) Non- 14,481,697 13,045,229 1,436,468 Variable type 155,751 33,678 122,073 W 22,741,364 18,594,581 4,146,783 December 31, 2020 Provisions for test LAT base Premium surplus Participating – Fixed interest W 598,793 1,301,878 (703,085 ) Non- 7,230,482 3,543,525 3,686,957 Participating – Variable interest 915,382 1,013,181 (97,799 ) Non- 14,456,394 12,882,865 1,573,529 Variable type 165,259 36,127 129,132 W 23,366,310 18,777,576 4,588,734 (j) Liability adequacy test, LAT – Orange Life Insurance Co., Ltd. i) Scope Liability adequacy tests are performed on the premium reserve, unearned premium reserve and guarantee reserve for the contracts held at December 31, 2019 and 2020. 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 main assumptions and basis for calculation The main assumptions and basis for calculation used to calculate the current estimation of future cash flows in the liability adequacy test as of December 31, 2019 and 2020 are as follows: The criteria for liability adequacy test of insurance contracts have been changed for the year ended December 31, 2020. Therefore, the Group applied the change in accounting policies as it has judged that the changed in the criteria for liability adequacy test of insurance contracts would provide more reliable and relevant information about the current estimates of future cash flows. This change in accounting policy has no effect on the consolidated financial statements, but comparative notes have been adjusted. Assumptions January 1, 2019 December 31, 2019 December 31, 2020 Measurement basis Discount rate 1.95% ~ 8.57% 1.26% ~ 10.60% 0.79% ~ 10.54% The scenario adding liquidity premium to risk-free rate, which is suggested from Financial Supervisory Service Mortality rate 20.00% ~ 210.00% 20.00% ~ 255.00% 15.00% ~ 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): 9,000 won ~ 959,000 won - Proportional to annualized premium: 0.64% ~ 7.05% Maintenance expense (each case): 2,000 won ~ 34,500 won - Proportional to premium income: 0.48% ~ 0.60% - Proportional to surrender value: 0.12% 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% Acquisition cost (each case): 0 won ~ 1,547,000 won - Proportional to annualized premium: 0.00% ~ 15.99% Maintenance expense (each case): 0 won ~ 36,000 won - Proportional to premium income: 0.12% ~ 0.85% - Proportional to surrender value: 0.12% Based on the recent one-year Surrender ratio 0.00% ~ 50.00% 0.00% ~ 50.00% 0.00% ~ 61.00% 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 January 1, 2019, December 31, 2019 and 2020 are as follows: January 1, 2019 Provisions for test LAT base Premium surplus Participating: Fixed interest W 688,330 644,225 44,105 Variable interest 1,097,211 1,472,060 (374,849 ) 1,785,541 2,116,285 (330,744 ) Non- Fixed interest 8,603,714 5,070,060 3,533,654 Variable interest 9,380,809 8,806,781 574,028 Performance allocation type (98,279 ) (1,744,683 ) 1,646,404 17,886,244 12,132,158 5,754,086 W 19,671,785 14,248,443 5,423,342 December 31, 2019 Provisions for test LAT base Premium surplus Participating: Fixed interest W 716,607 697,291 19,316 Variable interest 1,134,245 1,620,247 (486,002 ) 1,850,852 2,317,538 (466,686 ) Non- Fixed interest 9,296,542 5,150,200 4,146,342 Variable interest 9,236,730 8,924,855 311,875 Performance allocation type (54,457 ) (1,692,928 ) 1,638,471 18,478,815 12,382,127 6,096,688 W 20,329,667 14,699,665 5,630,002 December 31, 2020 Provisions for test LAT base Premium surplus Participating: Fixed interest W 745,614 694,536 51,078 Variable interest 1,174,807 1,649,073 (474,266 ) 1,920,421 2,343,609 (423,188 ) Non- Fixed interest 10,061,004 4,810,110 5,250,894 Variable interest 9,190,507 8,743,848 446,659 Performance allocation type (15,032 ) (1,589,500 ) 1,574,468 19,236,479 11,964,458 7,272,021 W 21,156,900 14,308,067 6,848,833 |
Other liabilities (Tables)
Other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other liabilities [Abstract] | |
Other liabilities | 28. Other liabilities Other liabilities as of December 31, 2019 and 2020 are as follows: 2019 2020 Lease liabilities (*) W 1,104,259 594,161 Accounts payable 11,894,764 14,568,962 Accrued expenses 3,502,538 3,054,247 Dividend payable 31,599 32,508 Advance received 173,850 164,885 Unearned income 294,710 317,283 Withholding value-added tax and other taxes 720,053 692,719 Securities deposit received 1,903,119 2,198,722 Foreign exchange settlement pending 243,532 259,138 Domestic exchange settlement pending 1,452,955 5,745,338 Payable from trust account 5,350,285 5,086,459 Due to agencies 744,660 790,486 Deposits for subscription 60,500 148,506 Separate account liabilities 8,700,695 10,120,258 Sundry liabilities 1,968,823 1,617,449 Others 151,056 185,027 Present value discount (59,840 ) (49,935 ) W 45,526,213 (*) As of December 31, 2020, the Group accounts the lease liabilities as other liabilities. For the year ended December 31, 2020, 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, 2020 | |
Equity [Abstract] | |
Equity | (a) Equity as of December 31, 2019 and 2020 are as follows: 2019 2020 Capital stock: Common stock (*1) W 2,370,998 2,608,176 Preferred stock 361,465 361,465 2,732,463 2,969,641 Hybrid bond 1,731,235 2,179,934 Capital surplus: Share premium 10,155,150 11,352,924 Others 410,203 882,015 10,565,353 12,234,939 Capital adjustments (1,116,770 ) (687,935 ) Accumulated other comprehensive income, net of tax: Gain on financial assets at fair value through other comprehensive income 306,470 226,811 Gain(Loss) on financial assets at fair value through profit or loss (Overlay approach) 71,621 161,919 Equity in other comprehensive income of associates 8,177 4,849 Foreign currency translation adjustments for foreign operations (217,465 ) (377,061 ) Net loss from cash flow hedges (33,711 ) (48,171 ) Other comprehensive income of separate account 14,539 18,423 Actuarial losses (401,532 ) (385,780 ) Changes in own credit risk on financial liabilities designated under fair value option (8,255 ) (5,171 ) (260,156 ) (404,181 ) Retained earnings (*2)(*3)(*4) 25,525,821 27,777,169 Non-controlling 2,752,435 2,287,291 W 41,930,381 46,356,858 (*1) For the year ended December 31, 2020, it increased due to common stock and third-party allocation paid-in W (*2) As of December 31, 2019 and 2020, profits reserved by the Group as of Article 53 of the Financial Holding Companies Act amounted to W W (*3) As of December 31, 2019 and 2020, the regulatory reserves for loan losses the Group appropriated in retained earnings are W W (*4) As of December 31, 2020, profit dividends within retained earnings of subsidiaries of the Group subject to a restricted dividend in accordance with laws, etc. are amounted to W (*5) The non-controlling W (*6) As of December 31, 2019 and 2020, 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 |
Capital stock of the Group | (b) Capital stock Capital stock of the Group as of December 31, 2019 and 2020 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 as of December 31, 2019 474,199,587 Number of issued common stocks as of December 31, 2020 516,599,554 Number of issued preferred stocks as of December 31, 2019 and 2020 17,482,000 The details of changes in the number of common shares outstanding as of December 31, 2020 are as follows: 2020 Beginning balance 460,317,525 Increase 60,626,827 Decrease (5,049,594 ) Ending balance 515,894,758 |
Changes in the number of common shares outstanding | (c) The details of preferred stock are as follows: The number Contracted Conversion request Convertible preferred stock 17,482,000 4.0% per year based on issue price (non-cumulative 2020.05.01~2023.04.30 (*) Preferred stocks that have not been converted for 4 years from the issuance date and until the expiration date of the period of existence are automatically converted to common stocks at the expiration date of the period of existence. |
Hybrid bond | (d) Hybrid bonds Hybrid bonds classified as other equity instruments as of December 31, 2019 and 2020 are as follows: Issue date Currency Maturity date Interest rate (%) 2019 2020 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 ” — 3.27 199,476 199,476 September 17, 2020 ” — 3.12 — 448,699 August 13, 2018 USD — 5.88 559,526 559,526 W 1,731,235 2,179,934 (*) For the year ended December 31, 2020, the deduction for capital related to hybrid bonds issued is W The hybrid bonds above can be repaid early after 5 or 10 years from the date of issuance, and the controlling company has an unconditional right to extend the maturity under the same condition. In addition, if no dividend is to be paid for common stocks, the agreed interest is also not paid. |
Capital adjustments | (e) Capital adjustments Changes in capital adjustments for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Beginning balance W (552,895 ) (1,116,770 ) Acquisition of treasury stocks (444,077 ) (150,467 ) Disposal and Retirement of treasury stocks — 601,809 The Acquisition commitment amount for subsidiaries’ remaining shares (125,830 ) (22,019 ) Other transactions with owners 6,032 (488 ) Ending balance W (1,116,770 ) (687,935 ) |
Changes in accumulated other comprehensive income | (f) Accumulated other comprehensive income Changes in accumulated other comprehensive income for the years ended December 31, 2019 and 2020 are as follows: 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 changes in foreign exchange rate — — — 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 ) 2020 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 233,328 71,621 8,193 (217,465 ) (33,711 ) 14,539 (401,532 ) (16 ) 73,142 (8,255 ) (260,156 ) Change due to fair value (3,601 ) 125,298 (1,080 ) — — 5,358 — (15 ) (19,133 ) (9,689 ) 97,138 Reclassification: Change due to impairment or disposal (105,274 ) — — 5,858 — — — — — 13,942 (85,474 ) Effect of hedge accounting — — — — 144,750 — — — — — 144,750 Hedging (4,395 ) — — 45,083 (164,708 ) — — — — — (124,020 ) Effects from changes in foreign exchange rate — 74 (355 ) (219,306 ) — — — — 721 — (218,866 ) Remeasurements of the defined benefit plans — — — — — — 21,422 — — — 21,422 Deferred income taxes 26,486 (35,074 ) (1,883 ) 7,000 5,498 (1,474 ) (5,610 ) 5 (2,573 ) (1,169 ) (8,794 ) Transfer to other account — — — — — — — — 27,825 — 27,825 Non-controlling 285 — — 1,769 — — (60 ) — — — 1,994 Ending balance W 146,829 161,919 4,875 (377,061 ) (48,171 ) 18,423 (385,780 ) (26 ) 79,982 (5,171 ) (404,181 ) |
Appropriation of retained earnings | (g) Appropriation of retained earnings The appropriation of retained earnings for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Date of appropriation: March 26, 2020 March 25, 2021 Unappropriated retained earnings: Balance at beginning of year W 5,184,339 5,251,413 Retirement of treasury stock — (150,325 ) Dividend to hybrid bonds (61,993 ) (85,327 ) Net income 1,129,173 1,274,443 6,251,519 6,290,204 Appropriation of retained earnings: Legal reserve (112,917 ) (127,444 ) Dividends Dividends on common stocks paid (851,587 ) (773,839 ) Dividends on preferred stocks paid (32,342 ) (29,999 ) Regulatory reserve for loan losses (3,260 ) (3,564 ) (1,000,106 ) (934,846 ) Unappropriated retained earnings to be carried over to subsequent year W 5,251,413 5,355,358 (*) 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 2019 2020 Beginning balance W 2,844,690 3,161,170 Business combination 25,608 — Planned regulatory reversal of loan losses 290,872 168,729 Ending balance W 3,161,170 3,329,899 |
Profit attributable to equity holders of Shinhan Financial Group and earnings per share after factoring in regulatory reserve for loan losses | 2019 2020 Profit attributable to equity holders of Shinhan Financial Group W 3,403,497 3,414,595 Provision for regulatory reserve for loan losses (*1) (292,728 ) (177,620 ) Profit attributable to equity holders of Shinhan Financial Group adjusted for regulatory reserve W 3,110,769 3,236,975 Basic and diluted earnings per share adjusted for regulatory reserve in won (*2) 6,387 6,299 (*1) The increase in reserve for credit losses, W (*2) Dividends for hybrid bonds are deducted. |
Acquisition of treasury stock | The acquisitions of treasury stock for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 (*) The number of Carrying The number of Carrying Beginning balance 3,648,659 W 155,923 13,882,062 W 600,000 Acquisition 10,233,403 444,077 5,049,594 150,467 Disposal — — 13,191,202 (572,252 ) Retirement — — 5,035,658 (150,000 ) Ending balance 13,882,062 W 600,000 704,796 W 28,215 (*) Changes in equity shares due to the exchange of shares with Orange Life Insurance Co., Ltd. and Neoplux Co, Ltd. are included in the acquisition and disposal for treasury stock. Shares of Shinhan Financial Group Co., Ltd. is owned by Orange Life Insurance Co., Ltd. and Neoplux Co, Ltd. are included in its own shares. |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2019 and 2020 are as follows: 2019 2020 (*1) Common Stock: Total number of shares issued and outstanding 474,199,587 516,599,554 Par value per share in won 5,000 5,000 Dividend per share in won 1,850 1,500 Dividends (*2) W 851,587 773,839 Dividend rate per share (%) 37.0 30.0 Preferred Stock: Total number of shares issued and outstanding 17,482,000 17,482,000 Par value per share in won 5,000 5,000 Dividend per share in won 1,850 1,716 Dividends W 32,342 29,999 Dividend rate per share (%) 37.0 34.3 (*1) Dividends were decided on March 25, 2021. The amount of dividends was not recognized as a distribution to the owner during the period. (*2) Dividends on own shares held by the Group are excluded. |
Dividend for hybrid bond | (b) Dividends for hybrid bond is calculated as follows for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Amount of hybrid bond W 1,738,150 2,188,150 Interest rate (%) 3.27 ~ 5.88 3.12 ~ 5.88 Dividends W 61,993 85,327 |
Net interest income (Tables)
Net interest income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Net interest income [Abstract] | |
Net interest income | 31. Net interest income Net interest income for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Interest income: Cash and deposits at amortized cost W 155,075 210,415 128,023 Deposits at FVTPL 33,845 31,506 13,888 Securities at FVTPL 623,651 740,378 742,958 Securities at FVOCI 759,301 1,077,995 957,817 Securities at amortized cost 730,382 1,061,262 1,076,849 Loans at amortized cost 11,158,558 12,435,302 11,697,775 Loans at FVTPL 23,110 56,961 73,991 Others 88,534 93,543 82,695 13,572,456 15,707,362 14,773,996 Interest expense: Deposits (3,091,659 ) (3,644,632 ) (2,842,625 ) Borrowings (468,068 ) (551,416 ) (426,607 ) Debt securities issued (1,336,840 ) (1,666,257 ) (1,554,544 ) Others (95,800 ) (107,093 ) (67,520 ) (4,992,367 ) (5,969,398 ) (4,891,296 ) Net interest income W 8,580,089 9,737,964 9,882,700 |
Net fees and commission income
Net fees and commission income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Fees and commission income: Credit placement fees W 62,766 66,666 94,836 Commission received as electronic charge receipt 146,309 151,584 143,449 Brokerage fees 412,165 353,382 546,236 Commission received as agency 120,508 140,484 145,162 Investment banking fees 91,273 151,031 161,439 Commission received in foreign exchange activities 214,395 244,325 239,467 Asset management fees 235,275 307,167 255,043 Credit card fees 1,360,322 1,234,239 1,170,078 Operating lease fees (*) 82,141 142,025 245,173 Others 570,102 766,110 813,591 3,295,256 3,557,013 3,814,474 Fees and commission expense: Credit-related fee (36,817 ) (42,023 ) (46,456 ) Credit card fees (944,533 ) (915,521 ) (849,256 ) Others (374,909 ) (458,950 ) (535,829 ) (1,356,259 ) (1,416,494 ) (1,431,541 ) Net fees and commission income W 1,938,997 2,140,519 2,382,933 (*) Among operating lease fees recognized during the current and prior periods, 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, 2020 | |
Dividend income [Abstract] | |
Dividend income | Dividend income for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Securities at FVTPL W 70,955 65,572 76,453 Securities at FVOCI 16,871 16,586 21,503 W 87,826 82,158 97,956 |
Net gain (loss) on financial _3
Net gain (loss) on financial instruments measured at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Net gain (loss) on deposits measured at FVTPL Gain (loss) on valuation W (61,848 ) 87,374 1,267 Gain on sale — 13,400 28,461 (61,848 ) 100,774 29,728 Net gain (loss) on loans measured at FVTPL Gain (loss) on valuation 916 (248,032 ) (204,702 ) Gain on sale 9,133 10,395 17,516 10,049 (237,637 ) (187,186 ) Net gain (loss) on securities measured at FVTPL Debt securities Gain on valuation 111,029 137,181 41,208 Gain on sale 78,718 125,431 72,338 Other gains 223,731 297,024 331,837 413,478 559,636 445,383 Equity securities Gain on valuation 286,801 141,246 134,922 Gain (loss) on sale (275,356 ) 183,969 283,265 11,445 325,215 418,187 Other Gain on valuation 19,086 28,803 22,690 444,009 913,654 886,260 2018 2019 2020 Net gain (loss) on financial liabilities measured at FVTPL Debt securities Loss on valuation (115,667 ) (16,810 ) (48,261 ) Gain (loss) on disposal 268,932 (35,710 ) 82,724 153,265 (52,520 ) 34,463 Other Loss on valuation (14,892 ) (91,025 ) (83,316 ) Gain on disposal 1,394 4,169 8,313 (13,498 ) (86,856 ) (75,003 ) 139,767 (139,376 ) (40,540 ) Derivatives: Gain (loss) on valuation (291,879 ) 388,880 245,681 Gain on transaction 179,928 359,187 (661,113 ) (111,951 ) 748,067 (415,432 ) W 420,026 1,385,482 272,830 |
Net gain (loss) on financial _4
Net gain (loss) on financial instruments designated at fair value through profit or loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Net gain (loss) on financial instruments designated at fair value through profit or loss [Abstract] | |
Net gain (loss) on financial instruments designated at fair value through profit or loss | 35. Net gain (loss) on financial instruments designated at fair value through profit or loss Net gain (loss) on financial instruments designated at fair value through profit or loss for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 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 ) 241,066 Loss on sale and redemption (404,573 ) (812,175 ) (42,827 ) W (26,643) (846,046 ) 198,239 |
Provision for allowance for c_2
Provision for allowance for credit loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Provision for allowance for credit loss [Abstract] | |
Provision for allowance for credit loss | 36. Provision for allowance for credit loss Provision for allowance for credit loss on financial assets for the years ended December 31, 2019 and 2020 are as follows: 2019 2020 Loans at amortized cost W (910,898 ) (1,290,695 ) Other financial assets at amortized cost (33,945 ) (33,785 ) Securities at fair value through other comprehensive income (5,787 ) (3,829 ) Unused credit line and financial guarantee (29,519 ) (52,795 ) Securities at amortized cost (543 ) (1,075 ) W (980,692 ) (1,382,179 ) |
General and administrative ex_2
General and administrative expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
General and Administrative Expenses [Abstract] | |
General and administrative expenses | 37. General and administrative expenses General and administrative expenses for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Employee benefits: Salaries W 2,736,604 2,918,065 3,034,543 Severance benefits: Defined contribution 23,745 35,972 36,660 Defined benefit 133,749 168,732 184,753 Termination benefits 115,275 122,732 94,723 3,009,373 3,245,501 3,350,679 Entertainment 30,442 36,931 34,963 Depreciation 171,771 479,657 475,506 Amortization 73,575 99,208 129,976 Taxes and utility bills 176,133 197,691 197,996 Advertising 287,688 265,739 204,308 Research 13,928 17,742 20,271 Others 978,665 792,205 798,774 W 4,741,575 5,134,674 5,212,473 |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Share-based payments [Abstract] | |
Stock options granted | (a) Stock options granted as of December 31, 2020 are as follows: 6th grant (*) 7th grant (*) Type Cash payment Cash payment Grant date March 20, 2007 March 19, 2008 Exercise price in Korean won W W Number of shares granted 1,301,050 808,700 Options’ expiry dates August 19, 2020 May 17, 2021 / September 17, 2021 Changes in number of shares granted: Beginning balance 58,764 36,162 Exercised and cancelled 58,764 — Ending balance — 36,162 W (Expiration of exercise period : Fair value per share in Korean won — W (Expiration of exercise period : (*) All of stock options have vested as of December 31, 2020, and the weighted average exercise price for 36,162 stock options outstanding as of December 31, 2020 is W |
Performance shares granted | (b) Performance shares granted as of December 31, 2020 are as follows: Expired Not expired Type Cash-settled share-based payment Performance conditions (*1) Relative stock price linked (20.0%), management index (80.0%) Exercising period 4 years from the commencement date of the year to which the grant date belongs (5 years in the case of deferred payment) Estimated number of shares vested at December 31, 2020 468,013 1,601,729 Fair value per share in Korean won (*2) W W W W (*1) Starting with the shares provided from 2020, Shinhan Financial Group and Shinhan Bank will apply relative stock price linked (20.0%), management index (60.0%), and prudential index (20.0%). (*2) Based on performance-based stock compensation, the reference stock price (the arithmetic average of the weighted average share price of transaction volume for the past two month, the previous one month, and the past one week) of four years (In the case of deferred quantity for after five years) after the commencement of the grant year is paid in cash, and the fair value of the reference stock to be paid in the future is assessed as the closing price of the settlement. |
Share-based compensation costs | (c) Share-based compensation costs for the years ended December 31, 2018, 2019 and 2020 are as follows: 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 2020 Employees of The controlling The subsidiaries Total Stock options granted: 6th W (1 ) (4 ) (5 ) 7th (18 ) (26 ) (44 ) Performance share (257 ) (3,902 ) (4,159 ) W (276 ) (3,932 ) (4,208 ) |
Accrued expenses and the intrinsic value | (d) Accrued expenses and the intrinsic value as of December 31, 2019 and 2020 are as follows: 2019 Accrued expenses (*) Employees of 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 2020 Accrued expenses (*) Employees of The controlling The subsidiaries Total Stock options granted: 7th W 1 1 2 Performance share 7,201 60,241 67,442 W 7,202 60,242 67,444 (*) 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, 2020 | |
Net other operating expense [Abstract] | |
Net other operating expense | 39. Net other operating expense Other operating income and other operating expense for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Other operating income Gain on disposal of assets: Loans at amortized cost W 40,624 18,298 21,348 Others: Gain on hedged items 418,390 564,438 536,768 Reversal of allowance for guarantees and acceptances 2,834 19,329 2,709 Gain on other trust accounts — 27 — Reversal of other allowance 5,033 11,194 850 Others 131,345 97,777 164,999 557,602 692,765 705,326 598,226 711,063 726,674 Other operating expense Loss on disposal of assets: Loans at amortized cost (14,271 ) (27,291 ) (18,675 ) Others: Loss on hedged items (406,872 ) (596,533 ) (605,808 ) Fund contribution (283,331 ) (311,336 ) (367,993 ) Provision for other debt allowances (13,036 ) (6,939 ) (16,862 ) Depreciation of operating lease assets (56,570 ) (98,288 ) (163,006 ) Others (653,501 ) (857,918 ) (924,796 ) (1,413,310 ) (1,871,014 ) (2,078,465 ) (1,427,581 ) (1,898,305 ) (2,097,140 ) Net other operating expenses W (829,355 ) (1,187,242 ) (1,370,466 ) |
Net other non-operating income
Net other non-operating income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Net other non-operating income [Abstract] | |
Net other non-operating income | 40. Net other non-operating Other non-operating non-operating 2018 2019 2020 Other non-operating Gain on disposal of assets: Property and equipment (*) W 12,611 1,452 64,427 Investment property (*) 4,783 12,640 20,701 Assets held for sale — — 1,147 Lease assets 1,153 1,681 2,712 Right-of-use — 1,112 3,415 Others — 407 24 18,547 17,292 92,426 Gain on disposal of Investments in associates 17,427 3,461 11,325 Others: Rental income on investment property 32,488 43,777 23,890 Reversal of impairment losses on intangible asset 62 438 119 Gain from assets contributed 77 86 4 Others 49,276 82,879 66,268 81,903 127,180 90,281 117,877 147,933 194,032 Other non-operating Loss on disposal of assets: Property and equipment (*) (3,082 ) (870 ) (5,884 ) Investment property (2,958 ) — — Lease assets (3,964 ) (3,221 ) (5,538 ) Right-of-use — (306 ) (1,195 ) Others (3 ) — (64 ) (10,007 ) (4,397 ) (12,681 ) Loss on disposal of investments in associates (11,546 ) (3,974 ) (5,754 ) Impairment loss on investments in associates (5,849 ) — (9,407 ) (17,395 ) (3,974 ) (15,161 ) Others: Donations (88,650 ) (94,937 ) (86,608 ) Depreciation of investment properties (16,917 ) (17,565 ) (20,165 ) Impairment loss on intangible assets (771 ) (152,081 ) (41,429 ) Write-off (1,537 ) (9,221 ) (474 ) Expenses on collection of special bonds (6,048 ) (7,322 ) (7,978 ) Others (26,844 ) (46,465 ) (344,934 ) (140,767 ) (327,591 ) (501,588 ) (168,169 ) (335,962 ) (529,430 ) Net other non-operating W (50,292 ) (188,029 ) (335,398 ) (*) Gain and loss on disposal of sale-and-leaseback sale-and-leaseback W |
Income tax expense (Tables)
Income tax expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income tax expense [Abstract] | |
Income tax expense | (a) Income tax expense for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Current income tax expense W 896,755 1,115,724 1,131,254 Temporary differences 383,190 296,244 131,862 Income tax recognized in other comprehensive income (11,600 ) (142,844 ) (7,321 ) Income tax expenses W 1,268,345 1,269,124 1,255,795 |
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, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Profit before income taxes W 4,466,610 4,911,508 4,753,871 Income taxes at statutory tax rates 1,222,840 1,345,187 1,301,836 Adjustments: Non-taxable (9,561 ) 8,500 (4,932 ) Non-deductible 12,854 18,461 14,529 Tax credit (23,317 ) (2,289 ) (88 ) Other 65,529 (100,735 ) (55,550 ) Income tax expense W 1,268,345 1,269,124 1,255,795 Effective tax rate % 28.40 25.84 26.42 |
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, 2019 and 2020 are as follows: 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 — — — — — Others (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 are increased by W 2020 Beginning Business Profit or Other Ending Unearned income W (331,679 ) — 3,401 — (328,278 ) Account receivable (26,324 ) — (2,754 ) — (29,078 ) Financial assets measured at fair value (101,577 ) 1,750 (28,950 ) (13,308 ) (142,085 ) Investment in associates and etc 18,758 — 144,390 (1,878 ) 161,270 Valuation and depreciation of property and equipment (151,046 ) 7 253 — (150,786 ) Derivative asset (liability) 21,005 — (80,357 ) 3,762 (55,590 ) Deposits 30,641 — (3,009 ) — 27,632 Accrued expenses 145,494 441 (5,071 ) — 140,864 Defined benefit obligation 506,132 209 39,072 (6,759 ) 538,654 Plan assets (507,140 ) — (47,934 ) 1,167 (553,907 ) Other provisions 213,055 — 99,223 — 312,278 Allowance for acceptances and guarantees 80,014 — 8,036 — 88,050 Allowance related to asset revaluation (49,713 ) — — — (49,713 ) Allowance for expensing depreciation (401 ) — 64 — (337 ) Deemed dividend — — — — — Accrued contributions 36,818 — (20,200 ) — 16,618 Financial instruments designated at fair value through profit of loss 42,817 — (71,043 ) — (28,226 ) Allowances 38,068 — 185,583 — 223,651 Fictitious dividend 1,341 — 14,950 — 16,291 Liability under insurance contracts 24,147 — (22,408 ) — 1,739 Deficit carried over — — 311 — 311 Others (543,770 ) 451 (304,112 ) 9,695 (837,736 ) (553,360 ) 2,858 (90,555 ) (7,321 ) (648,378 ) Expired unused tax losses: Extinguishment of deposit and insurance liabilities 320,011 — (35,944 ) — 284,067 W (233,349 ) 2,858 (126,499 ) (7,321 ) (364,311 ) (*) Deferred tax assets from overseas subsidiaries are increased by W |
Deferred tax assets and liabilities that were directly charged or credited to equity | (d) Deferred tax assets and liabilities that are directly charged or credited to equity for the years ended December 31, 2019 and 2020 are as follows: 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 ) W (894,711 ) 141,490 639,864 (146,799 ) (254,847 ) (5,309 ) January 1, 2020 Changes December 31, 2020 OCI Tax effect OCI Tax effect OCI Tax effect Gain (loss) on valuation of financial assets measured at FVOCI W 439,370 (132,901 ) (103,570 ) 23,912 335,800 (108,989 ) Gain (loss) on financial liabilities measured at FVTPL attributable to changes in credit risk (11,386 ) 3,131 4,253 (1,170 ) (7,133 ) 1,961 Foreign currency translation adjustments for foreign operations (208,348 ) (9,117 ) (166,596 ) 7,000 (374,944 ) (2,117 ) Gain (loss) on cash flow hedge (47,977 ) 14,266 (19,958 ) 5,498 (67,935 ) 19,764 Equity in other comprehensive income of associates 8,300 (122 ) (1,450 ) (1,878 ) 6,850 (2,000 ) The accumulated other comprehensive income in separate account (*) 20,054 (5,515 ) 5,358 (1,473 ) 25,412 (6,988 ) Remeasurements of the defined benefit liability (553,538 ) 152,006 21,362 (5,610 ) (532,176 ) 146,396 Gain (loss) on valuation of financial asset measured at FVTPL (Overlay approach) 98,678 (27,057 ) 125,371 (35,073 ) 224,049 (62,130 ) W (254,847 ) (5,309 ) (135,230 ) (8,794 ) (390,077 ) (14,103 ) (*) Deferred tax effects, which are originated from the accumulated other comprehensive income in separate account, are included in the other liabilities of principle and interest guaranteed 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) There is no 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, 2019 and 2020. |
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, 2019 and 2020 are as follows: 2019 2020 Investment in associates W (766,888) (897,110 ) |
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, 2019 and 2020 are as follows: 2019 2020 Deferred tax assets W 518,337 440,430 Deferred tax liabilities (751,686 ) (804,741 ) |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings per share [Abstract] | |
Earnings per share | 42. Earnings per share (a) Basic and diluted earnings per share for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Profit attributable to equity holders of Shinhan Financial Group W 3,156,722 3,403,497 3,414,595 Less: Dividends to hybrid bond (40,357 ) (61,993 ) (85,327 ) Net profit available for common stock W 3,116,365 3,341,504 3,329,268 Weighted average number of common shares outstanding (*1) 473,649,076 477,346,731 500,343,324 Basic and diluted earnings per share in won W 6,579 7,000 6,654 (*1) The number of basic ordinary shares outstanding is 516,599,554 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. (*2) Treasury stock has retired on June 1, 2020. (b) The calculation details of the weighted average number of ordinary shares are as follows: 2020 Number of shares Number of days Number of common shares issued 516,599,554 178,880,869,852 Shares of convertible preferred stock 17,482,000 6,398,412,000 Shares of treasury stock (704,796 ) (2,153,625,403 ) Average number of ordinary shares 533,376,758 183,125,656,449 Days 366 days Weighted average number of ordinary shares 500,343,324 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and contingencies [Abstract] | |
Guarantees, acceptances and credit commitments | (a) Guarantees, acceptances and credit commitments as of December 31, 2019 and 2020 are as follows: 2019 2020 Guarantees: Outstanding guarantees W 9,319,885 10,249,827 Contingent guarantees 3,669,697 3,433,953 12,989,582 13,683,780 Commitments to extend credit: Loan commitments in won 74,393,722 80,598,639 Loan commitments in foreign currency 22,542,776 19,319,903 ABS and ABCP commitments 2,116,354 1,604,958 Others 81,387,165 87,718,227 180,440,017 189,241,727 Endorsed bills: Secured endorsed bills 11,287 1,650 Unsecured endorsed bills 6,737,097 7,324,559 6,748,384 7,326,209 Loans sold with repurchase agreement 2,099 — W 200,180,082 210,251,716 |
Pending litigations | (b) Pending litigations The Group’s pending lawsuits as a defendant as of December 31, 2020 are as follows: Case Number of Claim Description Status Claim for the payment to execute the assignment order 1 W 7,099 For the deposits at the Group owned by one of the debtor, the plaintiff has received a provisional seizure order, bond seizure and an assignment order that assigned the Bank as a third party debtor. Accordingly, the plaintiff filed a claim against the Bank for the debt payment to execute the assignment order. In progress for the first order. Deposit return 1 5,575 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 HYUN, the legal firm, proceed a Matron’s private lawsuit related the Group. In progress for the first order. Gampo Ramada 1 5,658 The plaintiff has requested the intermediate loan of the repayment of loans until now because the Group planned for a three months extension of the maturity of the intermediate loan and have made a commitment to repay the principal and interest of the unpaid intermediate payment loan to the plaintiff after three months. The Group lost the first and second order (2021.01.14) and the third order is ongoing. Others 530 301,460 It includes various cases, such as compensation for loss claim. 533 W 319,792 As of the December 31, 2020, the Group has recorded W W |
Statement of cash flows (Tables
Statement of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Cash and due from banks at amortized cost W 17,363,450 28,435,818 33,420,549 Adjustments: Due from financial institutions with a maturity over three months from date of acquisition (3,008,188 ) (3,349,719 ) (2,488,156 ) Restricted due from banks (6,175,506 ) (16,506,925 ) (21,969,411 ) W 8,179,756 8,579,174 8,962,982 |
Significant non-cash activities | (b) Significant non-cash 2018 2019 2020 Debt-equity swap W 28,759 224,093 58,528 Transfers from construction-in-progress 6,319 76,004 56,575 Transfers between property and equipment and investment property 28,199 104,573 4,064 Transfers between assets held for sale and property and equipment 80 455 31,633 Transfers between investment property and assets held for sale — 15,795 910 Accounts payable for purchase of intangible assets, etc. 1,047 472,798 137,476 Transaction for right-of-use — 1,376,764 281,785 Exchange of shares related to acquisition of subsidiaries — — 629,449 Exchange of shares related to disposal of treasury stocks — — 287,669 |
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, 2019 and 2020 are as follows: 2019 Net derivative Borrowings Debentures Lease Beginning balance W (77,102 ) 29,818,542 63,227,699 536,842 Changes from cash flows 21,958 5,017,269 11,201,673 (269,362 ) Changes from non-cash Amortization of discount on borrowings and debentures — 58,320 352,524 11,291 Changes in foreign currency exchange rate — 173,623 282,534 — Others 60,966 (204,598 ) 298,934 792,901 Business combination — — — 32,587 Ending balance W 5,822 34,863,156 75,363,364 1,104,259 |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related parties [Abstract] | |
Balances with the related parties | (a) Balances with the related parties as of December 31, 2019 and 2020 are as follows: Related party Account 2019 2020 Investments in associates: BNP Paribas Cardif Life Insurance Other assets W 92 76 ” Credit card loans 173 81 ” Deposits 402 13,941 Partners 4th Growth Investment Fund Deposits 1,443 2,802 BNP Paribas Cardif General Insurance Credit card loans 26 21 ” Other assets 401 — ” Deposits 17 41 Shinhan Praxis K-Growth Other assets 91 — Dream High Fund III Deposits 5 4 Credian Healthcare Private Equity Fund II Deposits 4 2 Midas Dong-A Deposits 233 1,739 Eum Private Equity Fund No.3 Deposits 353 20 Incorporated association Finance Saving Information Center Deposits 6 7 GX Shinhan interest 1 st Unearned revenue 248 — Nomura investment property trust No.19 Loans 11,973 11,976 ” Other assets 42 44 Related party Account 2019 2020 Investments in associates (continued): SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 Other assets W 678 1,160 Shinhan-Stonebridge Petro Private Equity Fund (*) Other assets 810 — Korea Finance Security Deposits 362 568 SHINHAN-CORE TREND GLOBAL FUND 1 Unearned revenue 9 16 Hermes Private Investment Equity Fund Deposits 275 352 Multimedia Tech Co.Ltd Deposits 3 — Korea Credit Bureau Deposits 80 2,088 Goduck Gangil1 PFV Co., Ltd Loans 24,000 24,000 ” ACL (78 ) (71 ) SBC PFV Co., Ltd Deposits 5,142 8,011 GMG Development Co,. Ltd (*) Deposits 300 — Sprott Global Renewable Private Equity Fund I Deposits 342 258 IMM Global Private Equity Fund Loans 800 800 ” ACL (3 ) (2 ) ” Deposits 7,598 10,820 Goduck Gangil10 PFV Co., Ltd Loans — 9,400 ” ACL — (19 ) ” Deposits — 2,718 Shinhan Global Healthcare Fund 2 Deposits — 1 One Shinhan Global Fund 1 Unearned revenue — 122 IGIS PRIVATE REAL ESTATE TRUST NO.331 Loans — 9,919 ” Accrued income — 121 ” Unearned revenue — 22 COSPEC BIM tech Loans — 151 ” ACL — (95 ) ” Deposits — 1 IMM Special Situation 1-2 Deposits — 117 EDNCENTRAL Co.,Ltd. Loans — 19,450 ” Accrued income — 9 ” Unearned revenue — 578 KoFC-Neoplux R&D-Biz 2013-1 Account receivables — 2,823 Future-Creation Neoplux Venture Capital Fund Account receivables — 4,137 Neoplux Market-Frontier Secondary Fund Account receivables — 1,630 Gyeonggi-Neoplux Superman Fund Account receivables — 186 Shinhan-Neoplux Energy Newbiz Fund Account receivables — 25 Related party Account 2019 2020 Investments in associates (continued): SHINHAN-NEO Account receivables W — 3 KTC-NP 2011-2 Account receivables — 4,528 Neoplux No.3 Private Equity Fund Account receivables — 748 NV Station Private Equity Fund Deposits — 100 Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 Unearned revenue — 76 IGIS Private Real Estate Investment Trust 286 Other loans — 436 Genesis North America Power Company No.1 PEF Other loans — 2,171 Key management personnel and their immediate relatives: Loans 4,426 5,144 Assets 43,431 98,852 Liabilities W 16,822 44,404 (*) Excluded from the associates due to disposal and liquidation for the year ended December 31, 2020 |
Transactions with the related parties | (b) Transactions with the related parties for the years ended December 31, 2018, 2019 and 2020 are as follows: Related party Account 2018 2019 2020 Investments in associates BNP Paribas Cardif Life Insurance Fees and commission income W 3,716 4,230 3,390 ” Reversal of credit losses 4 3 — ” Other expense — (1 ) (5 ) ” General and administrative expenses (17 ) (9 ) (4 ) Shinhan Praxis K-Growth Fees and commission income 685 448 361 BNP Paribas Cardif General Insurance Fees and commission income 9 11 10 ” Provision for credit losses (2 ) — — ” Other operating income — 468 333 Midas Dong-A Fees and commission income 47 119 — ” Interest expense (2 ) (1 ) — SP New Technology Business investment Fund I Fees and commission income 317 — — Related party Account 2018 2019 2020 Investments in associates IBKS-Shinhan Creative Economy New Technology Fund Fees and commission income W 13 — — IBKS-Shinhan Creative Economy New Technology Fund 2 (*1) Fees and commission income 16 8 — SM New Technology Business Investment Fund I Fees and commission income 55 14 — JAEYOUNG SOLUTEC CO., LTD. Interest income 523 — — ” Fees and commission income 2 — — ” Other operating income 3 — — ” Reversal of credit losses — — — ” Interest expense (2 ) — — ” Provision for credit losses (1 ) — — Partners 4th Growth Investment Fund Interest expense (19 ) (7 ) (4 ) Shinhan-Albatross Technology Investment Fund Fees and commission income 216 216 54 SHBNPP Private Korea Equity Long-Short Professional Feeder (*2) Fees and commission income 975 363 — KDBC Midas Dong-A Interest expense (2 ) — (2 ) STI-New Fees and commission income 16 — — Shinhan Fintech New Technology Fund No.1 (*1) Fees and commission income 153 38 — Shinhan Global Healthcare Fund 1 Fees and commission income 785 360 — Taihan Industrial System Co., Ltd. Fees and commission income 1 — — Shinhan capital-Cape FN Fund No.1 (*1) Fees and commission income 82 101 — SHC-K2 Fees and commission income 20 19 19 Synergy-Shinhan Mezzanine New Technology Investment Fund Fees and commission income 127 94 50 Shinhan-Midas Dong-A Fees and commission income 71 187 63 GX Shinhan interest 1st Private Equity Fund (*3) Fees and commission income 412 545 454 Shinhan-Nvestor Liquidity Solution Fund Fees and commission income 214 361 361 Related party Account 2018 2019 2020 Investments in associates SHC ULMUS Fund No.1 (*3) Fees and commission income W 51 76 39 Shinhan-PS Fees and commission income 12 20 20 Nomura investment property trust No.19 Interest income 312 519 525 ” Other operating income — 7 3 ” Provision for credit loss (34 ) — — SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 Fees and commission income 236 2,694 2,501 Shinhan-Stonebridge Petro Private Equity Fund Fees and commission income 1,920 1,762 — KOREA FINANCE SECURITY Fees and commission income — 10 10 ” Interest expense — — (1 ) ShinHan-Soo Young Entrepreneur Investment Fund Fees and commission income — 275 206 Shinhan-Rhinos 1 Fund Fees and commission income — 64 64 SHINHAN-CORE TREND GLOBAL FUND1 Fees and commission income — 45 100 Kiwoom-Shinhan Innovation Fund I Fees and commission income — 67 240 One Shinhan Global Fund1 Fees and commission income — 151 399 Open-Shinhan Portfolio Investment Association No. 1 Fees and commission income — 59 59 FuturePlay-Shinhan TechInnovation Fund 1 Fees and commission income — 7 218 WON JIN HOME PLAN CO.,LTD Interest income — 186 — Korea Credit Bureau Fees and commission income — 13 13 ” Interest expense — (5 ) (12 ) Goduck Gangil1 PFV Co., Ltd Interest income — 328 915 ” Fees and commission income — 1,120 — ” Provision for credit loss — (78 ) 7 SBC PFV Co., Ltd Fees and commission income — — 732 ” Interest expense — (3 ) (5 ) IMM Global Private Equity Fund Interest income — 28 25 ” Interest expense — (25 ) (13 ) ” Provision for credit loss — (3 ) — Goduck Gangil10 PFV Co., Ltd Interest income — — 299 ” Fees and commission income — — 793 ” Interest expense — — (4 ) ” Provision for credit loss — — (19 ) Related party Account 2018 2019 2020 Investments in associates IGIS PRIVATE REAL ESTATE TRUST NO.331 Interest income W — — 731 ” Other operating expense — — (67 ) ” Fees and commission income — — 478 COSPEC BIM tech Provision for credit loss — — (95 ) Korea Omega Project Fund I Fees and commission income — — 131 New Green Shinhan Mezzanine Fund Fees and commission income — — 42 Sparklabs-Shinhan Opportunity Fund 1 Fees and commission income — — 174 EDNCENTRAL Co.,Ltd. Interest income — — 649 ” Fees and commission income — — 578 ” Other operating expense — — (121 ) Shinhan Western T&D Consignment Management Real Estate Investment Co., Ltd (*3) Fees and commission income — — 300 Kakao-Shinhan 1st TNYT Fund Fees and commission income — — 165 KoFC-Neoplux R&D-Biz 2013-1 Interest income — — 9 ” Fees and commission income — — 44 Future-Creation Neoplux Venture Capital Fund Interest income — — 14 ” Fees and commission income — — 116 Neoplux Market-Frontier Secondary Fund Fees and commission income — — 416 Gyeonggi-Neoplux Superman Fund Fees and commission income — — 149 Shinhan-Neoplux Energy Newbiz Fund Fees and commission income — — 308 NewWave 6th Fund Fees and commission income — — 303 SHINHAN-NEO Fees and commission income — — 3 KTC-NP 2011-2 Interest income — — 5 ” Fees and commission income — — 86 Neoplux No.3 Private Equity Fund Fees and commission income — — 748 Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 Fees and commission income — — 1,412 Related party Account 2018 2019 2020 Investments in associates CREDIAN T&F 2020 CORPORATE FINANCIAL STABILITY PRIVATE EQUITY FUND (*3) Interest expense W — — (1 ) Key management personnel and their immediate relatives Interest income 101 161 126 W 11,015 15,045 18,897 (*1) Excluded from the associates due to disposal and liquidation for the year ended December 31, 2019 (*2) 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. (*3) Excluded from the associates due to disposal and liquidation for the year ended December 31, 2020. |
Key management personnel compensation | (c) Key management personnel compensation Key management personnel compensation for the years ended December 31, 2018, 2019 and 2020 are as follows: 2018 2019 2020 Short-term employee benefits W 22,502 21,237 23,468 Severance benefits 419 731 651 Share-based payment transactions (*) 4,944 12,343 2,628 W 27,865 34,311 26,747 (*) The expenses of share-based payment transactions are the renumeration expenses during the vesting period. |
The guarantees provided between the related parties | (d) The guarantees provided between the related parties as of December 31, 2019 and 2020 are as follows: Amount of guarantees Guarantor Guaranteed Parties 2019 2020 Account Shinhan Bank BNP Paribas Cardif Life Insurance W 10,000 10,000 Unused credit line (*) Among the associates, the amount of the securities purchase agreement for structured entities is W |
Details of collaterals provided by the related parties | (e) Details of collaterals provided by the related parties as of December 31, 2019 and 2020 are as follows: Provided to Provided by Pledged assets 2019 2020 Shinhan Bank BNP Paribas Cardif Life Insurance Government bonds W 12,000 12,000 Hyungje art printing Properties 120 120 Goduck Gangil1 PFV Co., Ltd Guarantee insurance policy 28,800 28,800 Goduck Gangil10 PFV Co., Ltd Guarantee insurance policy — 13,000 W 40,920 53,920 |
Significant loan transactions with related parties | (f) Details of significant loan transactions with related parties as of December 31, 2019 and 2020 are as follows: 2019 Classification Company Beginning Loan Recover Others (*) 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. 2020 Classification Company Beginning Loan Recover Others (*1) Ending Investments in associates Nomura investment property trust No.19 W 11,973 — — — 11,973 IGIS PRIVATE REAL ESTATE TRUST NO.331 — 10,000 — (312 ) 9,688 EDNCENTRAL Co.,Ltd. — 20,000 — (619 ) 19,381 Goduck Gangil1 PFV Co., Ltd 24,000 — — — 24,000 Goduck Gangil10 PFV Co., Ltd — 28,200 (18,800 ) — 9,400 IMM Global Private Equity Fund 800 — — — 800 COSPEC BIM tech(*2) — — — 151 151 Total W 36,773 58,200 (18,800 ) (780 ) 75,393 (*1) The effect on changes in allowance for credit loss is included. (*2) For the year ended December 31, 2020, it is incorporated as a related party, and has marked the balance as of December 31, 2020. |
Interests in unconsolidated s_2
Interests in unconsolidated structured entities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of unconsolidated structured entities [Abstract] | |
The size of unconsolidated structured entities | 2019 2020 Total assets: Asset-backed securitization W 208,441,947 253,958,036 Structured financing 195,374,046 257,475,395 Investment fund 215,371,530 203,863,889 W 619,187,523 715,297,320 |
The carrying amounts of the assets and liabilities relating to its interests in unconsolidated structured entities | (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, 2019 and 2020 are as follows: 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 2020 Assets-backed securitization Structured financing Investment fund Total Assets: Loans measured at fair value through profit or loss W 10,007 396,006 — 406,013 Loan at amortized cost 882,708 11,631,322 80,166 12,594,196 Securities at fair value through profit or loss 4,703,527 200,966 9,403,611 14,308,104 Derivate assets 10,353 1,050 — 11,403 Securities at fair value through other comprehensive income 2,105,239 122,664 — 2,227,903 Securities at amortized cost 6,294,228 — — 6,294,228 Other assets 2,019 59,980 4,936 66,935 W 14,008,081 12,411,988 9,488,713 35,908,782 Liabilities: Derivate liabilities W 582 — — 582 Other liabilities 2,610 21,421 — 24,031 W 3,192 21,421 — 24,613 |
Exposure to risk relating to its interests in unconsolidated structured entities | ii) Exposure to risk relating to its interests in unconsolidated structured entities as of December 31, 2019 and 2020 are as follows: 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 2020 Assets-backed securitization Structured financing Investment fund Total Assets held W 14,008,081 12,411,988 9,488,713 35,908,782 ABS and ABCP commitments 932,113 2,300 1,923,035 2,857,448 Loan commitments 618,030 707,860 — 1,325,890 Guarantees 87,293 — — 87,293 Others — 123,210 5,887 129,097 W 15,645,517 13,245,358 11,417,635 40,308,510 |
Business combination (Tables)
Business combination (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Business combination [Abstract] | |
Fair value of assets acquired and liabilities assumed as of acquisition | 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 179 Investment assets in the long-term 463 Venture capital investment assets 38,800 Private equity investment company investment assets 12,230 Property and equipment 835 Intangible assets (*2) 1,254 Other assets (*3) 18,911 72,672 Liabilities: Borrowings 9,000 Other liabilities 4,804 13,804 Fair value of the identifiable net assets W 58,868 (*1) The accounting for the acquisition of Neoplux Co., Ltd. is tentatively determined using the identifiable assets and liabilities recognized by Neoplux Co., Ltd. at the time of business combination. For the year ended December 31, 2020, the acquisition has not completed the identification of intangible assets for allocation and the fair value assessment of identifiable assets and liabilities. The goodwill may vary depending on the results of the fair value assessment of the identifiable assets and liabilities for the allocation of the consideration. (*2) The contract balance recognized as a business combination includes W (*3) During the business combination, the Group has acquired receivables that are fair value of W W |
Uncertainty due to changes in_2
Uncertainty due to changes in domestic and global economic conditions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Uncertainty due to changes in domestic and global economic conditions [Abstract] | |
Uncertainty due to changes in domestic and global economic conditions | 48. Uncertainty due to changes in domestic and global economic conditions The rapid spread of the COVID-19 ‘ Financial Instruments ’ COVID-19 ended December 31, 2020 is re-estimated COVID-19 Risk exposures by major consolidated subsidiaries due to COVID-19 (a) Shinhan Bank 2020 Airlift Lodging Oil/ Art- Movie Clothing Travel Total Loans at amortized cost W 120,854 3,445,269 685,336 244,036 95,240 1,763,741 112,647 6,467,123 Securities at fair value through profit or loss — — 3,088 — — 3,060 — 6,148 Securities at fair value through other comprehensive income 52,878 2,611 224,894 — 6,539 9,797 — 296,719 Off-balance 404,767 289,948 3,058,516 9,630 111,266 938,705 60,171 4,873,003 W 578,499 3,737,828 3,971,834 253,666 213,045 2,715,303 172,818 11,642,993 (b) Shinhan Card Co., Ltd. 2020 Retails Credit sales Short term card loan Long term card loan Total Loans at amortized cost W 357,589 142,252 283,150 782,991 Off-balance 702,124 702,124 (c) Jeju Bank 2020 Lodging Manufacturing Retail Construction Industry Leisure Transportation Business Etc Total Loans at amortized cost W 599,875 30,095 517,843 85,640 57,677 29,679 92,373 1,413,182 Off-balance 20,658 563 18,691 7,100 1,053 2,103 3,082 53,250 W 620,533 30,658 536,534 92,740 58,730 31,782 95,455 1,466,432 As of December 31, 2020, the exposure of the borrowers who applied for moratorium of interest payments and moratorium of repayment in installments by Shinhan Bank is as follows: Exposure Moratorium of interest payments W 242,794 Moratorium of repayment in installments 1,067,502 Moratorium of interest payments and moratorium of repayment in installments 80,581 W 1,390,877 |
Transition effects arising fr_2
Transition effects arising from changes in accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Transition effects arising from changes in accounting policies [Abstract] | |
Difference between the amount of operating lease agreements | 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 |
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 20,791,680 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) (2,895 ) 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 Carrying value Carrying Difference Financial assets: Due from banks Loans and receivables Financial assets measured at FVTPL (*2) 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 measured at FVTPL (*2) 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 (debt securities) Financial assets at FVTPL Financial assets measured at FVTPL 23,640,646 23,640,646 — Trading assets (equity securities) Financial assets at FVTPL Financial assets measured at FVTPL 4,634,353 4,634,353 — Trading assets (deposit in gold and silver) Financial assets at FVTPL Financial assets measured at FVTPL 189,297 189,297 — Financial assets designated as at FVTPL (debt securities) Financial assets at FVTPL Financial assets measured at FVTPL (*3) 2,030,522 2,030,522 — Financial assets at FVTPL Financial assets designated as at FVTPL 80,288 80,288 — Financial assets designated as at FVTPL (equity securities) Financial assets at FVTPL Financial assets measured at FVTPL (*3) 1,162,553 1,162,553 — Financial assets at FVTPL Financial assets designated as at FVTPL 71,803 71,803 — Financial assets designated as at FVTPL (other securities – compound financial instruments) Financial assets at FVTPL Financial assets measured at FVTPL (*3) 233,892 233,892 — Derivatives Financial assets at FVTPL Financial assets measured at FVTPL (*3) 3,400,178 3,348,803 (51,375 ) AFS financial assets (debt securities) AFS financial assets Financial assets measured at FVTPL (*2) 528,745 533,452 4,707 AFS financial assets Financial assets measured at FVOCI 36,657,807 36,657,807 — AFS financial assets (equity securities) AFS financial assets Financial assets measured at FVTPL (*2) 4,339,979 4,350,969 10,990 AFS financial assets Financial assets measured at FVOCI 590,405 590,405 — IAS 39 IFRS 9 Carrying value Carrying Difference HTM financial assets (debt securities) HTM financial assets Financial assets measured at FVTPL (*2) W 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 measured at amortized cost W 249,419,224 249,419,224 — Trading liabilities Financial liabilities at FVTPL Financial liabilities measured at FVTPL 1,848,490 1,848,490 — Financial liabilities designated as at FVTPL Financial liabilities at FVTPL Financial liabilities designated as at FVTPL 8,260,636 8,260,636 — Financial liabilities at FVTPL Financial liabilities measured at FVTPL (*3) 36,973 36,973 — Derivatives Financial liabilities at FVTPL Financial liabilities measured at FVTPL (*3) 3,487,661 3,483,642 (4,019 ) Borrowings Financial liabilities measured at amortized cost Financial liabilities measured at amortized cost 27,586,610 27,586,313 (297 ) Debt securities issued Financial liabilities measured at amortized cost Financial liabilities measured at amortized cost 51,340,821 51,340,821 — Others Financial liabilities measured at amortized cost Financial liabilities measured at amortized cost 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 | 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 ) — — — — Carrying value based Amount Amount Carrying value Changes in Changes in Derivatives (*1) Carrying value under IAS 39 as of January 1, 2018 W 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 ) — — 3,579,057 (3,579,057 ) — — — — AFS (debt securities) Carrying value under IAS 39 as of January 1, 2018 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 — (590,406 ) — (590,406 ) — — 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 ) — — Carrying value based Amount Amount Carrying value Changes in Changes in Reclassification to financial assets measured at amortized cost W — (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 — (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 — — Financial liabilities : Carrying value Amount Amount Carrying value Changes in Changes in other Derivative liabilities Carrying value under IAS 39 as of January 1, 2018 W 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, 2020 | |
Condensed financial information of parent company only disclosure [Abstract] | |
STATEMENTS OF FINANCIAL POSITION | STATEMENTS OF FINANCIAL POSITION 2019 2020 Assets Deposits Banking subsidiaries W 167 3 Other — — Receivables from subsidiaries: Non-banking 2,219,698 3,218,455 Investment (at equity) in subsidiaries: Banking subsidiaries 13,797,222 13,797,222 Non-banking 15,183,053 16,157,962 Financial assets at FVTPL 443,377 1,810,867 Derivative assets 24,352 39,392 Property, equipment and intangible assets, net 11,106 10,360 Other assets Banking subsidiaries 408,436 260,342 Non-banking 171,321 173,473 Other 2,590 15,838 Total assets W 32,261,322 35,483,914 Liabilities and equity Debt securities issued W 9,147,640 9,920,059 Derivative liabilities 17,687 22,133 Accrued expenses & other liabilities 630,569 484,625 Total liabilities 9,795,896 10,426,817 Equity 22,465,426 25,057,097 Total liabilities and equity W 32,261,322 35,483,914 |
CONDENSED STATEMENTS OF INCOME | CONDENSED STATEMENTS OF INCOME 2018 2019 2020 Income Dividends from banking subsidiaries W 541,524 892,310 892,420 Dividends from non-banking 866,150 428,634 495,110 Interest income from banking subsidiaries 268 263 194 Interest income from non-banking 31,224 38,968 68,914 Other income 74,215 125,324 268,784 Total income 1,513,381 1,485,499 1,725,422 Expenses Interest expense (187,882 ) (206,815 ) (231,205 ) Other expense (89,145 ) (147,589 ) (216,708 ) Total expenses (277,027 ) (354,404 ) (447,913 ) Profit before income tax expense 1,236,354 1,131,095 1,277,509 Income tax expense 1,471 1,922 3,066 Profit for the year W 1,234,883 1,129,173 1,274,443 |
CONDENSED STATEMENTS OF CASH FLOWS | CONDENSED STATEMENTS OF CASH FLOWS 2018 2019 2020 Cash flows from operating activities Profit before income taxes W 1,236,354 1,131,095 1,277,509 Non-cash (1,251,379 ) (1,164,022 ) (1,313,967 ) Changes in operating assets and liabilities (1,671,189 ) 1,475,702 (1,272,738 ) Net interest paid (153,926 ) (154,765 ) (165,570 ) Dividend received from subsidiaries 1,407,674 1,320,944 1,386,843 Income tax refunds(paid) — (194 ) — Net cash provided by (used in) operating activities (432,466 ) 2,608,760 (87,923 ) Cash flows from investing activities Net loan origination to non-banking (412,630 ) (575,936 ) (1,073,657 ) Acquisition of subsidiary (42,273 ) (2,977,196 ) (73,335 ) Other, net (231,281 ) (660 ) (100,875 ) Net cash used in investing activities (686,184 ) (3,553,792 ) (1,247,867 ) Cash flows from financing activities Issuance of common stocks — — 1,154,347 Issuance of convertible preferred shares — 747,791 — Issuance of hybrid bonds 1,107,838 199,476 448,699 Net changes in borrowings 120,000 (125,000 ) — Issuance of debt securities issued 2,396,138 3,194,764 2,240,581 Repayments of debt securities issued (1,590,000 ) (1,844,000 ) (1,384,000 ) Dividend paid (714,705 ) (830,772 ) (968,847 ) Acquisition of treasury stock (151,993 ) (444,077 ) (150,448 ) Disposition of and incineration cost of treasury stock — — (3,033 ) Redemption of lease liabilities — (1,614 ) (1,673 ) Net cash provided by (used in) financing activities 1,167,278 896,568 1,335,626 Net increase (decrease) in cash and cash equivalents 48,628 (48,464 ) (164 ) Cash and cash equivalents at beginning of year — 48,628 164 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, 2020 | Dec. 31, 2019 | |
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 | 100.00% | 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% | 75.30% |
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% | 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% | 100.00% |
Neoplux 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 | 0.00% | 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% |
SBJDNX | ||
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% | |
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 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% |
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 Financial Plus | ||
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 BNP ASSET MGT HK 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 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% |
Reflection of forward-looking i
Reflection of forward-looking information correlation (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Upside scenario | |
Reflection of forward-looking information correlation [Line Items] | |
GDP growth rate(YoY %) | (-) |
Private consumption index(YoY %) | (-) |
Facility investment growth rate(YoY %) | (-) |
Consumer price index growth rate(%) | (-) |
Balance on current account(billion dollars) | (-) |
Government bond 3y yields(%) | - |
Central scenario | |
Reflection of forward-looking information correlation [Line Items] | |
GDP growth rate(YoY %) | (-) |
Private consumption index(YoY %) | (-) |
Facility investment growth rate(YoY %) | (-) |
Consumer price index growth rate(%) | (-) |
Balance on current account(billion dollars) | (-) |
Government bond 3y yields(%) | - |
Downside scenario | |
Reflection of forward-looking information correlation [Line Items] | |
GDP growth rate(YoY %) | (-) |
Private consumption index(YoY %) | (-) |
Facility investment growth rate(YoY %) | (-) |
Consumer price index growth rate(%) | (-) |
Balance on current account(billion dollars) | (-) |
Government bond 3y yields(%) | - |
Reflection of forward-looking_2
Reflection of forward-looking information (Details) | 12 Months Ended | |
Dec. 31, 2020 | [1],[2] | |
Upside scenario | 2020.4Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | (2.80%) | |
Private consumption index(YoY %) | (4.80%) | |
Facility investment growth rate(YoY %) | 3.50% | |
Consumer price index growth rate(%) | 0.30% | |
Balance on current account(billion dollars) | 170billion dollars | |
Government bond 3y yields(%) | 0.90% | |
Upside scenario | 2021.1Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | 0.00% | |
Private consumption index(YoY %) | 3.00% | |
Facility investment growth rate(YoY %) | 5.50% | |
Consumer price index growth rate(%) | 0.60% | |
Balance on current account(billion dollars) | 130billion dollars | |
Government bond 3y yields(%) | 1.00% | |
Upside scenario | 2021.2Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | 3.90% | |
Private consumption index(YoY %) | 2.30% | |
Facility investment growth rate(YoY %) | 6.50% | |
Consumer price index growth rate(%) | 0.90% | |
Balance on current account(billion dollars) | 160billion dollars | |
Government bond 3y yields(%) | 1.00% | |
Upside scenario | 2021.3Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | 3.00% | |
Private consumption index(YoY %) | 3.50% | |
Facility investment growth rate(YoY %) | 1.50% | |
Consumer price index growth rate(%) | 0.80% | |
Balance on current account(billion dollars) | 190billion dollars | |
Government bond 3y yields(%) | 1.10% | |
Upside scenario | 2021.4Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | 4.30% | |
Private consumption index(YoY %) | 4.10% | |
Facility investment growth rate(YoY %) | 5.00% | |
Consumer price index growth rate(%) | 0.90% | |
Balance on current account(billion dollars) | 180billion dollars | |
Government bond 3y yields(%) | 1.10% | |
Central scenario | 2020.4Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | (2.80%) | |
Private consumption index(YoY %) | (4.80%) | |
Facility investment growth rate(YoY %) | 3.50% | |
Consumer price index growth rate(%) | 0.30% | |
Balance on current account(billion dollars) | 170billion dollars | |
Government bond 3y yields(%) | 0.90% | |
Central scenario | 2021.1Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | (0.70%) | |
Private consumption index(YoY %) | 2.60% | |
Facility investment growth rate(YoY %) | 5.00% | |
Consumer price index growth rate(%) | 0.50% | |
Balance on current account(billion dollars) | 120billion dollars | |
Government bond 3y yields(%) | 1.00% | |
Central scenario | 2021.2Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | 3.60% | |
Private consumption index(YoY %) | 2.10% | |
Facility investment growth rate(YoY %) | 6.00% | |
Consumer price index growth rate(%) | 0.90% | |
Balance on current account(billion dollars) | 150billion dollars | |
Government bond 3y yields(%) | 1.00% | |
Central scenario | 2021.3Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | 2.50% | |
Private consumption index(YoY %) | 3.00% | |
Facility investment growth rate(YoY %) | 0.80% | |
Consumer price index growth rate(%) | 0.70% | |
Balance on current account(billion dollars) | 180billion dollars | |
Government bond 3y yields(%) | 1.00% | |
Central scenario | 2021.4Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | 3.70% | |
Private consumption index(YoY %) | 3.50% | |
Facility investment growth rate(YoY %) | 4.50% | |
Consumer price index growth rate(%) | 0.80% | |
Balance on current account(billion dollars) | 170billion dollars | |
Government bond 3y yields(%) | 1.00% | |
Downside scenario | 2020.4Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | (2.80%) | |
Private consumption index(YoY %) | (4.80%) | |
Facility investment growth rate(YoY %) | 3.50% | |
Consumer price index growth rate(%) | 0.30% | |
Balance on current account(billion dollars) | 170billion dollars | |
Government bond 3y yields(%) | 0.90% | |
Downside scenario | 2021.1Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | (1.50%) | |
Private consumption index(YoY %) | 1.90% | |
Facility investment growth rate(YoY %) | 3.50% | |
Consumer price index growth rate(%) | 0.40% | |
Balance on current account(billion dollars) | 110billion dollars | |
Government bond 3y yields(%) | 1.10% | |
Downside scenario | 2021.2Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | 2.30% | |
Private consumption index(YoY %) | 1.10% | |
Facility investment growth rate(YoY %) | 4.50% | |
Consumer price index growth rate(%) | 0.80% | |
Balance on current account(billion dollars) | 140billion dollars | |
Government bond 3y yields(%) | 1.10% | |
Downside scenario | 2021.3Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | 1.70% | |
Private consumption index(YoY %) | 2.60% | |
Facility investment growth rate(YoY %) | (1.00%) | |
Consumer price index growth rate(%) | 0.60% | |
Balance on current account(billion dollars) | 170billion dollars | |
Government bond 3y yields(%) | 1.10% | |
Downside scenario | 2021.4Q | ||
Reflection of forward-looking information [Line Items] | ||
GDP growth rate(YoY %) | 3.00% | |
Private consumption index(YoY %) | 3.40% | |
Facility investment growth rate(YoY %) | 3.00% | |
Consumer price index growth rate(%) | 0.70% | |
Balance on current account(billion dollars) | 160billion dollars | |
Government bond 3y yields(%) | 1.10% | |
[1] | Shinhan Bank applied the private consumption index and facility investment growth rate as the major variables. In addition, Shinhan Card applied the GDP growth rate, consumer price index growth rate, balance on current account, and government bond 3y yields as the major variables. | |
[2] | The macroeconomic outlook figures are estimated by the Group for the purpose of calculating expected credit losses based on information from domestic and foreign research institutes. Therefore, it could be different from other institutions' estimates. |
Change amount for provisions (D
Change amount for provisions (Details) ₩ in Millions | Dec. 31, 2020KRW (₩) |
Shinhan Bank | |
Sensitivity : Change amount for provisions [Line Items] | |
Upside(100%) | ₩ (3,332) |
Downside(100%) | 26,507 |
Shinhan Card Co., Ltd. | |
Sensitivity : Change amount for provisions [Line Items] | |
Upside(100%) | (24,109) |
Downside(100%) | ₩ 35,205 |
Maximum exposure to credit risk
Maximum exposure to credit risk (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | ₩ 767,398,214 | ₩ 707,472,356 |
Due from banks and loans at amortized cost | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 387,826,781 | 349,085,837 |
Due from banks and loans at amortized cost | Banks | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 17,016,263 | 12,950,561 |
Due from banks and loans at amortized cost | Retail | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 170,314,316 | 152,840,826 |
Due from banks and loans at amortized cost | Government/Public agency/Central bank | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 24,778,332 | 19,461,567 |
Due from banks and loans at amortized cost | Corporations | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 152,895,324 | 140,718,619 |
Due from banks and loans at amortized cost | Card receivable | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 22,822,546 | 23,114,264 |
Deposits and loans at FVTPL | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 2,079,913 | 3,052,346 |
Deposits and loans at FVTPL | Banks | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 93,109 | 897,525 |
Deposits and loans at FVTPL | Corporations | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 1,986,804 | 2,154,821 |
Securities at FVTPL | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 55,275,031 | 48,512,857 |
Securities at fair value through other comprehensive income | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 57,409,433 | 58,573,094 |
Securities at amortized cost | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 47,282,623 | 45,582,065 |
Derivative assets | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 5,633,915 | 2,829,274 |
Other financial assets | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 20,341,191 | 17,477,778 |
Financial guarantee contracts | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | 4,481,506 | 4,698,558 |
Loan commitments and other | ||
Maximum exposure to credit risk [Line Items] | ||
Maximum exposure to credit risk | ₩ 187,067,821 | ₩ 177,660,547 |
Maximum amount of exposure to c
Maximum amount of exposure to credit risk by type of collateral (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | ₩ 176,227,925 | ₩ 170,639,881 |
Guarantee | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 42,485,581 | 16,052,589 |
Deposits and Savings | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 1,574,166 | 1,327,197 |
Property and equipment | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 1,638,249 | 1,341,344 |
Real estate | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 123,318,812 | 143,401,316 |
Securities | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 2,378,617 | 3,477,442 |
Others | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 4,832,500 | 5,039,993 |
12-month expected credit losses | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 155,021,256 | 150,785,399 |
12-month expected credit losses | Guarantee | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 36,355,387 | 12,232,197 |
12-month expected credit losses | Deposits and Savings | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 1,258,934 | 1,058,353 |
12-month expected credit losses | Property and equipment | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 1,301,810 | 1,021,002 |
12-month expected credit losses | Real estate | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 109,092,694 | 128,098,318 |
12-month expected credit losses | Securities | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 2,181,874 | 3,340,337 |
12-month expected credit losses | Others | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 4,830,557 | 5,035,192 |
Lifetime expected credit losses | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 20,605,128 | 19,404,094 |
Lifetime expected credit losses | Guarantee | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 5,944,417 | 3,756,006 |
Lifetime expected credit losses | Deposits and Savings | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 313,723 | 266,407 |
Lifetime expected credit losses | Property and equipment | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 324,098 | 307,502 |
Lifetime expected credit losses | Real estate | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 13,914,172 | 14,932,637 |
Lifetime expected credit losses | Securities | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 108,718 | 137,105 |
Lifetime expected credit losses | Others | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 0 | 4,437 |
Impaired | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 601,541 | 450,388 |
Impaired | Guarantee | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 185,777 | 64,386 |
Impaired | Deposits and Savings | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 1,509 | 2,437 |
Impaired | Property and equipment | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 12,341 | 12,840 |
Impaired | Real estate | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 311,946 | 370,361 |
Impaired | Securities | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | 88,025 | 0 |
Impaired | Others | ||
Maximum amount of exposure to credit risk by type of collateral [Line Items] | ||
Maximum exposure to credit risk | ₩ 1,943 | ₩ 364 |
Credit loss allowances of finan
Credit loss allowances of financial assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | ₩ 495,600,296 | ₩ 455,947,675 |
Credit loss allowances of financial assets | (3,081,459) | (2,706,679) |
Financial assets at amortized cost, net | 492,518,837 | 453,240,996 |
Mitigation of credit risk due to collateral | 175,337,808 | 165,625,171 |
Due from banks and loans at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 390,897,754 | 351,782,746 |
Credit loss allowances of financial assets | (3,070,973) | (2,696,909) |
Financial assets at amortized cost, net | 387,826,781 | 349,085,837 |
Mitigation of credit risk due to collateral | 175,337,808 | 165,625,171 |
Due from banks and loans at amortized cost | Banks | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 17,029,781 | 12,962,636 |
Credit loss allowances of financial assets | (13,518) | (12,075) |
Financial assets at amortized cost, net | 17,016,263 | 12,950,561 |
Mitigation of credit risk due to collateral | 29,994 | 57,087 |
Due from banks and loans at amortized cost | Retail | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 170,868,849 | 153,347,710 |
Credit loss allowances of financial assets | (554,533) | (506,884) |
Financial assets at amortized cost, net | 170,314,316 | 152,840,826 |
Mitigation of credit risk due to collateral | 91,711,254 | 87,826,564 |
Due from banks and loans at amortized cost | Government/Public agency/Central bank | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 24,782,544 | 19,467,489 |
Credit loss allowances of financial assets | (4,212) | (5,922) |
Financial assets at amortized cost, net | 24,778,332 | 19,461,567 |
Mitigation of credit risk due to collateral | 9,000 | 0 |
Due from banks and loans at amortized cost | Corporations | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 154,509,661 | 142,037,125 |
Credit loss allowances of financial assets | (1,614,337) | (1,318,506) |
Financial assets at amortized cost, net | 152,895,324 | 140,718,619 |
Mitigation of credit risk due to collateral | 83,580,715 | 77,732,792 |
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 | 23,706,919 | 23,967,786 |
Credit loss allowances of financial assets | (884,373) | (853,522) |
Financial assets at amortized cost, net | 22,822,546 | 23,114,264 |
Mitigation of credit risk due to collateral | 6,845 | 8,728 |
Securities at fair value through other comprehensive income | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 57,409,433 | 58,573,094 |
Credit loss allowances of financial assets | 0 | 0 |
Financial assets at amortized cost, net | 57,409,433 | 58,573,094 |
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 | 47,293,109 | 45,591,835 |
Credit loss allowances of financial assets | (10,486) | (9,770) |
Financial assets at amortized cost, net | 47,282,623 | 45,582,065 |
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 | 396,075,906 | 363,040,079 |
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 | 301,681,080 | 269,466,898 |
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 | 14,935,722 | 11,703,863 |
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 | 152,159,976 | 136,124,712 |
12-month expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Government/Public agency/Central bank | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 23,849,701 | 19,274,854 |
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 | 93,740,349 | 85,202,285 |
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 | 16,995,332 | 17,161,184 |
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 | 48,506,057 | 49,276,299 |
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 | 45,888,769 | 44,296,882 |
12-month expected credit losses | Grade 2 | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 58,199,579 | 53,425,717 |
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 | 48,158,998 | 43,096,335 |
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 | 1,996,948 | 1,179,294 |
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 | 8,385,069 | 7,443,675 |
12-month expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Government/Public agency/Central bank | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 834,912 | 111,987 |
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 | 34,637,533 | 32,112,103 |
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 | 2,304,536 | 2,249,276 |
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 | 8,636,241 | 9,057,701 |
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 | 1,404,340 | 1,271,681 |
Lifetime expected credit losses | Grade 1 | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 19,391,987 | 17,974,221 |
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 | 19,391,987 | 17,950,949 |
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 | 87,084 | 77,675 |
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 | 6,062,587 | 5,694,210 |
Lifetime expected credit losses | Grade 1 | Due from banks and loans at amortized cost | Government/Public agency/Central bank | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 96,183 | 80,648 |
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 | 11,391,410 | 10,219,343 |
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 | 1,754,723 | 1,879,073 |
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 | 0 | 23,272 |
Lifetime expected credit losses | Grade 2 | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 19,921,982 | 19,629,678 |
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 | 19,654,847 | 19,390,584 |
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 | 10,027 | 1,804 |
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 | 3,686,863 | 3,608,216 |
Lifetime expected credit losses | Grade 2 | Due from banks and loans at amortized cost | Government/Public agency/Central bank | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 1,748 | 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 | 13,758,332 | 13,546,622 |
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 | 2,197,877 | 2,233,942 |
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 | 267,135 | 239,094 |
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 | 2,010,842 | 1,877,980 |
Impaired | Due from banks and loans at amortized cost | ||
Impairment information by credit risk of financial assets [Line Items] | ||
Financial assets at amortized cost | 2,010,842 | 1,877,980 |
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 | 574,354 | 476,897 |
Impaired | Due from banks and loans at amortized cost | Government/Public agency/Central bank | ||
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 | 982,037 | 956,772 |
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 | 454,451 | 444,311 |
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, 2020 | Dec. 31, 2019 |
Financial guarantee | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | ₩ 4,481,506 | ₩ 4,698,558 |
Financial guarantee | Grade 1 | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 3,193,426 | 3,053,961 |
Financial guarantee | Grade 1 | 12-month expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 2,884,641 | 2,805,417 |
Financial guarantee | Grade 1 | Lifetime expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 308,785 | 248,544 |
Financial guarantee | Grade 2 | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 1,287,922 | 1,643,787 |
Financial guarantee | Grade 2 | 12-month expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 1,110,945 | 1,495,091 |
Financial guarantee | Grade 2 | Lifetime expected credit losses | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 176,977 | 148,696 |
Financial guarantee | Financial instruments credit-impaired | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 158 | 810 |
Loan commitment and other credit line | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 187,067,821 | 177,660,547 |
Loan commitment and other credit line | Grade 1 | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 163,525,464 | 153,861,889 |
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 | 156,787,448 | 146,010,944 |
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 | 6,738,016 | 7,850,945 |
Loan commitment and other credit line | Grade 2 | ||
Credit risk exposures per credit grade of off-balance items [Line Items] | ||
Credit risk exposures | 23,537,239 | 23,775,120 |
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 | 20,715,236 | 21,044,977 |
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 | 2,822,003 | 2,730,143 |
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 | ₩ 5,118 | ₩ 23,538 |
Credit quality of derivative as
Credit quality of derivative assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Credit quality of derivative assets [Line Items] | ||
Derivative assets | ₩ 5,633,915 | ₩ 2,829,274 |
Internal credit grades | ||
Disclosure of Credit quality of derivative assets [Line Items] | ||
Derivative assets | 5,633,915 | 2,829,274 |
Grade 1 | ||
Disclosure of Credit quality of derivative assets [Line Items] | ||
Derivative assets | 4,994,809 | 2,377,548 |
Grade 2 | ||
Disclosure of Credit quality of derivative assets [Line Items] | ||
Derivative assets | ₩ 639,106 | ₩ 451,726 |
Concentration by geographic loc
Concentration by geographic location for financial instrument, net of allowance (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | ₩ 549,873,781 | ₩ 504,806,199 |
Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 387,826,781 | 349,085,837 |
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] | 17,016,263 | 12,950,561 |
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],[2] | 170,314,316 | 152,840,826 |
Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 24,778,332 | 19,461,567 |
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] | 152,895,324 | 140,718,619 |
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] | 22,822,546 | 23,114,264 |
Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 2,079,913 | 3,052,346 |
Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 93,109 | 897,525 |
Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 1,986,804 | 2,154,821 |
Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 55,275,031 | 48,512,857 |
Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 57,409,433 | 58,573,094 |
Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 47,282,623 | 45,582,065 |
Korea | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 496,483,910 | 457,301,242 |
Korea | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 345,865,414 | 312,474,026 |
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 | [2] | 6,990,520 | 5,124,738 |
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 | [2] | 161,434,788 | 144,700,885 |
Korea | Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 20,998,640 | 16,805,176 |
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 | [2] | 133,827,181 | 122,926,428 |
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 | [2] | 22,614,285 | 22,916,799 |
Korea | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 1,119,166 | 2,324,662 |
Korea | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 61,476 | 177,713 |
Korea | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 1,057,690 | 2,146,949 |
Korea | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 51,574,884 | 45,635,765 |
Korea | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 53,386,556 | 53,939,143 |
Korea | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 44,537,890 | 42,927,646 |
USA | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 10,271,211 | 10,397,683 |
USA | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 5,455,513 | 5,290,111 |
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 | [2] | 823,698 | 1,263,568 |
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 | [2] | 392,499 | 371,602 |
USA | Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 952,215 | 529,096 |
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 | [2] | 3,278,234 | 3,116,777 |
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 | [2] | 8,867 | 9,068 |
USA | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 498,445 | 719,812 |
USA | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 31,633 | 719,812 |
USA | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 466,812 | 0 |
USA | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 2,129,355 | 1,662,249 |
USA | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 1,464,611 | 1,955,627 |
USA | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 723,287 | 769,884 |
England | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 908,780 | 909,710 |
England | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 598,212 | 617,409 |
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 | [2] | 156,002 | 423,788 |
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 | [2] | 6,724 | 5,444 |
England | Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 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 | [2] | 435,135 | 187,856 |
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 | [2] | 351 | 321 |
England | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
England | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
England | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
England | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 198,567 | 194,591 |
England | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 112,001 | 97,710 |
England | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
Japan | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 10,658,232 | 9,071,961 |
Japan | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 10,126,830 | 8,664,617 |
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 | [2] | 784,538 | 289,233 |
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 | [2] | 4,124,680 | 3,888,964 |
Japan | Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 1,418,805 | 1,080,381 |
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 | [2] | 3,796,824 | 3,403,806 |
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 | [2] | 1,983 | 2,233 |
Japan | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 19,807 | 0 |
Japan | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
Japan | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 19,807 | 0 |
Japan | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 46,086 | 49,067 |
Japan | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 221,917 | 195,165 |
Japan | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 243,592 | 163,112 |
Germany | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 585,081 | 404,126 |
Germany | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 544,183 | 304,011 |
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 | [2] | 316,293 | 203,166 |
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 | [2] | 2,386 | 1,548 |
Germany | Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 121,663 | 0 |
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 | [2] | 103,647 | 99,083 |
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 | [2] | 194 | 214 |
Germany | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
Germany | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
Germany | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
Germany | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 4,486 | 6,346 |
Germany | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 36,412 | 93,769 |
Germany | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
Vietnam | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 6,535,914 | 6,024,699 |
Vietnam | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 5,627,621 | 5,104,960 |
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 | [2] | 1,166,397 | 1,068,822 |
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 | [2] | 1,780,361 | 1,612,761 |
Vietnam | Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 209,395 | 140,960 |
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 | [2] | 2,319,327 | 2,140,573 |
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 | [2] | 152,141 | 141,844 |
Vietnam | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 744 | 0 |
Vietnam | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
Vietnam | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 744 | 0 |
Vietnam | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 24,539 | 21,625 |
Vietnam | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 172,904 | 294,095 |
Vietnam | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 710,106 | 604,019 |
China | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 8,827,212 | 8,317,750 |
China | Due from banks and loans at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 7,727,148 | 7,258,104 |
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 | [2] | 2,889,115 | 2,816,320 |
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 | [2] | 1,329,067 | 1,211,857 |
China | Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 441,863 | 445,526 |
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 | [2] | 3,039,177 | 2,758,888 |
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 | [2] | 27,926 | 25,513 |
China | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
China | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
China | Deposits and loans at FVTPL | Corporations | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 0 | 0 |
China | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 168,863 | 220,837 |
China | Securities at fair value through other comprehensive income | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 886,080 | 798,068 |
China | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 45,121 | 40,741 |
Other country | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 15,603,441 | 12,379,028 |
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 | [2] | 11,881,860 | 9,372,599 |
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 | [2] | 3,889,700 | 1,760,926 |
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 | [2] | 1,243,811 | 1,047,765 |
Other country | Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 635,751 | 460,428 |
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 | [2] | 6,095,799 | 6,085,208 |
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 | [2] | 16,799 | 18,272 |
Other country | Deposits and loans at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 441,751 | 7,872 |
Other country | Deposits and loans at FVTPL | Banks | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 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 | [2] | 441,751 | 7,872 |
Other country | Securities at FVTPL | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | 1,128,251 | 722,377 |
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 | [2] | 1,128,952 | 1,199,517 |
Other country | Securities at amortized cost | |||
Concentration by geographic location for financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [2] | ₩ 1,022,627 | ₩ 1,076,663 |
[1] | The composition details by industry are net book value less allowances. | ||
[2] | 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, 2020 | Dec. 31, 2019 | |
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | ₩ 549,873,781 | ₩ 504,806,199 |
Due from banks and loans at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 387,826,781 | 349,085,837 |
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],[2] | 17,016,263 | 12,950,561 |
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],[2] | 170,314,316 | 152,840,826 |
Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 24,778,332 | 19,461,567 |
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],[2] | 152,895,324 | 140,718,619 |
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],[2] | 22,822,546 | 23,114,264 |
Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 2,079,913 | 3,052,346 |
Deposits and loans at FVTPL | Banks | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 93,109 | 897,525 |
Deposits and loans at FVTPL | Corporations | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 1,986,804 | 2,154,821 |
Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 55,275,031 | 48,512,857 |
Securities at fair value through other comprehensive income | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 57,409,433 | 58,573,094 |
Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1],[2] | 47,282,623 | 45,582,065 |
Finance and insurance | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 124,138,498 | 111,928,180 |
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] | 51,775,579 | 41,298,884 |
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] | 16,656,030 | 12,461,379 |
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/Public agency/Central bank | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 24,671,308 | 19,342,308 |
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] | 10,403,261 | 9,456,194 |
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] | 44,980 | 39,003 |
Finance and insurance | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,177,901 | 2,198,591 |
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] | 63,112 | 897,525 |
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] | 1,114,789 | 1,301,066 |
Finance and insurance | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 34,294,362 | 29,826,338 |
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] | 26,528,743 | 28,673,958 |
Finance and insurance | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 10,361,913 | 9,930,409 |
Manufacturing | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 55,691,640 | 51,517,119 |
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] | 48,600,580 | 44,994,657 |
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 | 0 |
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/Public agency/Central bank | |||
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] | 48,430,680 | 44,781,794 |
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] | 169,900 | 212,863 |
Manufacturing | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 641,554 | 505,198 |
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] | 641,554 | 505,198 |
Manufacturing | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 2,978,991 | 2,466,874 |
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] | 3,448,765 | 3,500,514 |
Manufacturing | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 21,750 | 49,876 |
Retail and wholesale | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 20,752,883 | 19,082,218 |
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] | 18,931,934 | 17,175,280 |
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/Public agency/Central bank | |||
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] | 18,679,397 | 17,004,407 |
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] | 252,537 | 170,873 |
Retail and wholesale | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 19,210 | 120,636 |
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] | 19,210 | 120,636 |
Retail and wholesale | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,223,958 | 1,112,688 |
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] | 577,781 | 673,614 |
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] | 38,498,821 | 32,130,233 |
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] | 35,958,502 | 30,080,295 |
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 | 0 |
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/Public agency/Central bank | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,796 | 2,295 |
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] | 35,920,334 | 30,029,000 |
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] | 36,372 | 49,000 |
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] | 81,005 | 7,872 |
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] | 29,997 | 0 |
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] | 51,008 | 7,872 |
Real estate and service | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 574,547 | 350,720 |
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] | 830,988 | 807,274 |
Real estate and service | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 1,053,779 | 884,072 |
Construction service | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 5,748,752 | 6,033,982 |
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] | 3,559,672 | 3,527,266 |
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/Public agency/Central bank | |||
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] | 3,521,216 | 3,485,602 |
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] | 38,456 | 41,664 |
Construction service | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 3,000 | 3,500 |
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] | 3,000 | 3,500 |
Construction service | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 248,399 | 262,183 |
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] | 974,333 | 1,164,947 |
Construction service | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 963,348 | 1,076,086 |
Lodging and Restaurant | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 6,571,223 | 6,115,721 |
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] | 6,502,403 | 6,026,780 |
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/Public agency/Central bank | |||
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] | 6,479,253 | 6,003,383 |
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] | 23,150 | 23,397 |
Lodging and Restaurant | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 0 | 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] | 0 | 900 |
Lodging and Restaurant | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 46,177 | 75,152 |
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] | 22,643 | 12,889 |
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] | 107,585,790 | 125,008,000 |
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] | 31,611,937 | 52,991,929 |
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] | 360,233 | 489,182 |
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/Public agency/Central bank | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 105,228 | 116,964 |
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] | 29,461,183 | 29,958,239 |
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] | 1,685,293 | 22,427,544 |
Other industry | Deposits and loans at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 157,243 | 215,649 |
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] | 157,243 | 215,649 |
Other industry | Securities at FVTPL | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 15,908,597 | 14,418,902 |
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] | 25,026,180 | 23,739,898 |
Other industry | Securities at amortized cost | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 34,881,833 | 33,641,622 |
Retail customers | |||
Concentration by industry sector of financial instrument, net of allowance [Line Items] | |||
Financial assets, net | [1] | 190,886,174 | 152,990,746 |
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] | 190,886,174 | 152,990,746 |
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] | 170,314,316 | 152,840,826 |
Retail customers | Due from banks and loans at amortized cost | Government/Public agency/Central bank | |||
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 | 0 |
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] | 20,571,858 | 149,920 |
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 composition details by industry are net book value less allowances. | ||
[2] | 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, 2020 | Dec. 31, 2019 |
Shinhan financial group | Average | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | ₩ 890,558 | ₩ 908,038 |
Shinhan financial group | Average | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 525,465 | 508,039 |
Shinhan financial group | Average | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 222,277 | 191,019 |
Shinhan financial group | Average | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 120,088 | 143,317 |
Shinhan financial group | Average | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 8,910 | 57,972 |
Shinhan financial group | Average | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 13,818 | 7,691 |
Shinhan financial group | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 1,004,324 | 975,167 |
Shinhan financial group | Maximum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 592,668 | 527,349 |
Shinhan financial group | Maximum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 240,535 | 210,589 |
Shinhan financial group | Maximum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 124,915 | 151,779 |
Shinhan financial group | Maximum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 23,224 | 74,892 |
Shinhan financial group | Maximum | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 22,982 | 10,558 |
Shinhan financial group | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 823,598 | 824,803 |
Shinhan financial group | Minimum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 495,292 | 479,121 |
Shinhan financial group | Minimum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 202,036 | 162,595 |
Shinhan financial group | Minimum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 113,497 | 138,543 |
Shinhan financial group | Minimum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 3,234 | 39,591 |
Shinhan financial group | Minimum | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 9,539 | 4,953 |
Shinhan financial group | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 941,482 | 932,817 |
Shinhan financial group | December 31 | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 592,668 | 504,948 |
Shinhan financial group | December 31 | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 222,544 | 210,589 |
Shinhan financial group | December 31 | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 113,497 | 139,562 |
Shinhan financial group | December 31 | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 3,234 | 67,160 |
Shinhan financial group | December 31 | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 9,539 | 10,558 |
Shinhan Bank [Member] | Average | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 106,030 | 47,925 |
Shinhan Bank [Member] | Average | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 41,165 | 21,208 |
Shinhan Bank [Member] | Average | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 27,077 | 18,136 |
Shinhan Bank [Member] | Average | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 65,309 | 24,727 |
Shinhan Bank [Member] | Average | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 305 | 161 |
Shinhan Bank [Member] | Average | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 13 | 15 |
Shinhan Bank [Member] | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 154,487 | 81,553 |
Shinhan Bank [Member] | Maximum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 56,950 | 32,430 |
Shinhan Bank [Member] | Maximum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 66,254 | 49,424 |
Shinhan Bank [Member] | Maximum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 83,335 | 29,085 |
Shinhan Bank [Member] | Maximum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 1,073 | 325 |
Shinhan Bank [Member] | Maximum | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 170 | 104 |
Shinhan Bank [Member] | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 49,486 | 31,482 |
Shinhan Bank [Member] | Minimum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 28,322 | 12,709 |
Shinhan Bank [Member] | Minimum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 7,545 | 8,171 |
Shinhan Bank [Member] | Minimum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 27,668 | 22,259 |
Shinhan Bank [Member] | Minimum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 114 | 60 |
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 | 94,613 | 47,952 |
Shinhan Bank [Member] | December 31 | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 42,867 | 28,313 |
Shinhan Bank [Member] | December 31 | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 7,893 | 15,386 |
Shinhan Bank [Member] | December 31 | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 69,024 | 25,910 |
Shinhan Bank [Member] | December 31 | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 138 | 212 |
Shinhan Bank [Member] | December 31 | Commodity | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 1 | 10 |
Shinhan Bank [Member] | December 31 | Portfolio diversification effect | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | (25,310) | (21,879) |
Shinhan Card | Average | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 2,034 | 1,417 |
Shinhan Card | Average | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 2,034 | 1,417 |
Shinhan Card | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 2,400 | 2,000 |
Shinhan Card | Maximum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 2,400 | 2,000 |
Shinhan Card | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 1,900 | 1,000 |
Shinhan Card | Minimum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 1,900 | 1,000 |
Shinhan Card | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 2,400 | 2,000 |
Shinhan Card | December 31 | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Requisite capital in light of the market risk | 2,400 | 2,000 |
Shinhan Investment | Average | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 75,226 | 38,262 |
Shinhan Investment | Average | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 20,512 | 13,725 |
Shinhan Investment | Average | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 26,136 | 31,330 |
Shinhan Investment | Average | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 12,477 | 4,107 |
Shinhan Investment | Average | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 43,324 | 9,889 |
Shinhan Investment | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 187,985 | 85,597 |
Shinhan Investment | Maximum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 30,903 | 20,857 |
Shinhan Investment | Maximum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 51,509 | 74,421 |
Shinhan Investment | Maximum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 46,970 | 37,970 |
Shinhan Investment | Maximum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 162,008 | 31,711 |
Shinhan Investment | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 18,648 | 5,780 |
Shinhan Investment | Minimum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 12,076 | 5,671 |
Shinhan Investment | Minimum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 2,412 | 15,449 |
Shinhan Investment | Minimum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 632 | 368 |
Shinhan Investment | Minimum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 2,894 | 2,504 |
Shinhan Investment | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 95,208 | 36,732 |
Shinhan Investment | December 31 | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 23,551 | 11,946 |
Shinhan Investment | December 31 | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 36,573 | 25,691 |
Shinhan Investment | December 31 | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 15,557 | 4,369 |
Shinhan Investment | December 31 | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 57,924 | 9,876 |
Shinhan Investment | December 31 | Portfolio diversification effect | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | (38,397) | (15,150) |
Shinhan Life Insurance | Average | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 24,838 | 8,765 |
Shinhan Life Insurance | Average | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 2,967 | 1,853 |
Shinhan Life Insurance | Average | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 10,953 | 5,015 |
Shinhan Life Insurance | Average | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 10,485 | 1,581 |
Shinhan Life Insurance | Average | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 433 | 316 |
Shinhan Life Insurance | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 46,210 | 19,442 |
Shinhan Life Insurance | Maximum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 6,934 | 8,856 |
Shinhan Life Insurance | Maximum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 16,592 | 6,520 |
Shinhan Life Insurance | Maximum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 21,588 | 3,434 |
Shinhan Life Insurance | Maximum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 1,096 | 632 |
Shinhan Life Insurance | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 9,540 | 4,814 |
Shinhan Life Insurance | Minimum | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 354 | 313 |
Shinhan Life Insurance | Minimum | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 4,481 | 4,374 |
Shinhan Life Insurance | Minimum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 4,665 | 3 |
Shinhan Life Insurance | Minimum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 40 | 124 |
Shinhan Life Insurance | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 29,119 | 8,100 |
Shinhan Life Insurance | December 31 | Interest rate | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 619 | 600 |
Shinhan Life Insurance | December 31 | Stock price | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 13,742 | 4,978 |
Shinhan Life Insurance | December 31 | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 13,669 | 2,050 |
Shinhan Life Insurance | December 31 | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 1,089 | 472 |
Orange Life insurance | Average | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 17,137 | 18,578 |
Orange Life insurance | Average | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 17,064 | 18,578 |
Orange Life insurance | Average | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 73 | |
Orange Life insurance | Maximum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 19,681 | 23,614 |
Orange Life insurance | Maximum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 19,597 | 23,614 |
Orange Life insurance | Maximum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 84 | |
Orange Life insurance | Minimum | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 10,179 | 12,577 |
Orange Life insurance | Minimum | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 10,172 | 12,577 |
Orange Life insurance | Minimum | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 7 | |
Orange Life insurance | December 31 | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 18,037 | 16,710 |
Orange Life insurance | December 31 | Foreign exchange risk | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | 17,964 | ₩ 16,710 |
Orange Life insurance | December 31 | Option volatility | ||
Market risk management from trading positions [Line Items] | ||
Value at risk | ₩ 73 |
Interest rate risk management f
Interest rate risk management from non-trading positions (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Shinhan Bank [Member] | |||
Interest rate risk management from non-trading positions [Line Items] | |||
delta EVE | [1] | ₩ 468,327 | ₩ 369,944 |
delta NII | [2] | 115,221 | 161,385 |
Shinhan Card | |||
Interest rate risk management from non-trading positions [Line Items] | |||
delta EVE | [1] | 463,647 | 696,505 |
delta NII | [2] | 594,210 | 554,499 |
Shinhan Investment | |||
Interest rate risk management from non-trading positions [Line Items] | |||
delta EVE | [1] | 209,929 | 77,436 |
delta NII | [2] | 89,925 | 127,476 |
Shinhan Life Insurance | |||
Interest rate risk management from non-trading positions [Line Items] | |||
delta EVE | [1] | 4,140,109 | 4,831,042 |
delta NII | [2] | 46,073 | 77,000 |
Orange Life insurance | |||
Interest rate risk management from non-trading positions [Line Items] | |||
delta EVE | [1] | 2,007,029 | 2,800,603 |
delta NII | [2] | ₩ 38,733 | ₩ 46,372 |
[1] | Delta 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] | Delta 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, 2020 | Dec. 31, 2019 |
USD | Financial assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | ₩ 39,604,300 | ₩ 38,788,834 |
USD | Cash and due from banks at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 4,729,453 | 4,235,225 |
USD | Due from banks at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 31,633 | 719,812 |
USD | Loan receivables measured at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 745,277 | 479,950 |
USD | Securities at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 4,426,257 | 5,391,450 |
USD | Derivative assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 913,778 | 342,120 |
USD | Loans at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 21,435,678 | 18,275,153 |
USD | Securities at fair value through other comprehensive income | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 3,868,880 | 4,775,714 |
USD | Securities at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,273,204 | 1,392,901 |
USD | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 2,180,140 | 3,176,509 |
USD | Financial liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 39,496,155 | 37,635,155 |
USD | Deposits | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 17,542,371 | 14,658,624 |
USD | Financial liabilities at fair value through profit or loss | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | 0 |
USD | Financial liabilities designated at fair value through profit or loss | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,068,245 | 1,444,254 |
USD | Derivative liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 558,064 | 320,176 |
USD | Borrowings | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 8,431,144 | 8,938,762 |
USD | Debt securities issued | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 8,417,214 | 7,882,293 |
USD | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 3,479,117 | 4,391,046 |
USD | Net asset | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 108,145 | 1,153,679 |
USD | Off-balance derivative exposure | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 438,469 | (1,335,794) |
USD | Net position | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 546,614 | (182,115) |
JPY | Financial assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 11,783,861 | 10,226,650 |
JPY | Cash and due from banks at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,988,215 | 1,532,661 |
JPY | Due from banks at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 0 | |
JPY | Loan receivables measured at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 19,807 | 0 |
JPY | Securities at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 2,574 | 32,565 |
JPY | Derivative assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 21,531 | 1,403 |
JPY | Loans at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 9,076,702 | 8,256,756 |
JPY | Securities at fair value through other comprehensive income | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 149,718 | 83,713 |
JPY | Securities at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 240,619 | 183,133 |
JPY | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 284,695 | 136,419 |
JPY | Financial liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 11,169,352 | 9,886,517 |
JPY | Deposits | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 10,136,700 | 9,057,393 |
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 | ||
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 | 10,819 | 6,466 |
JPY | Borrowings | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 810,819 | 347,881 |
JPY | Debt securities issued | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 87,504 | 319,041 |
JPY | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 123,510 | 155,736 |
JPY | Net asset | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 614,509 | 340,133 |
JPY | Off-balance derivative exposure | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | (166,923) | (160,734) |
JPY | Net position | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 447,586 | 179,399 |
EUR | Financial assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 2,765,752 | 2,214,966 |
EUR | Cash and due from banks at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 402,137 | 354,686 |
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 | 91,503 | 7,872 |
EUR | Securities at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 455,769 | 303,917 |
EUR | Derivative assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 50,842 | 16,922 |
EUR | Loans at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,296,284 | 955,836 |
EUR | Securities at fair value through other comprehensive income | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 222,547 | 337,573 |
EUR | Securities at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 69,132 | 67,080 |
EUR | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 177,538 | 171,080 |
EUR | Financial liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 2,516,268 | 2,141,207 |
EUR | Deposits | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 991,501 | 843,946 |
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 | ||
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 | 33,940 | 20,833 |
EUR | Borrowings | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 306,829 | 190,366 |
EUR | Debt securities issued | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 933,570 | 960,890 |
EUR | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 250,428 | 125,172 |
EUR | Net asset | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 249,484 | 73,759 |
EUR | Off-balance derivative exposure | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 187,408 | 273,571 |
EUR | Net position | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 436,892 | 347,330 |
CNY | Financial assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 5,772,165 | 5,923,432 |
CNY | Cash and due from banks at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 798,053 | 1,714,524 |
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 | 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 | 1,100 | 391 |
CNY | Loans at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 4,130,855 | 3,350,557 |
CNY | Securities at fair value through other comprehensive income | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 460,681 | 436,236 |
CNY | Securities at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 45,151 | 40,769 |
CNY | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 336,325 | 380,955 |
CNY | Financial liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 5,379,341 | 5,403,297 |
CNY | Deposits | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 4,650,406 | 4,426,507 |
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 | ||
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 | 858 | 1,163 |
CNY | Borrowings | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 163,454 | 407,767 |
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 | 564,623 | 567,860 |
CNY | Net asset | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 392,824 | 520,135 |
CNY | Off-balance derivative exposure | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 44,764 | (114,015) |
CNY | Net position | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 437,588 | 406,120 |
Other | Financial assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 15,620,382 | 12,976,341 |
Other | Cash and due from banks at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 3,053,388 | 1,715,443 |
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 | Securities at FVTPL | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 316,468 | 357,018 |
Other | Derivative assets | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 114,055 | 80,506 |
Other | Loans at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 8,987,453 | 7,960,731 |
Other | Securities at fair value through other comprehensive income | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,000,855 | 917,335 |
Other | Securities at amortized cost | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,588,358 | 1,482,574 |
Other | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 559,805 | 462,734 |
Other | Financial liabilities | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 12,276,969 | 10,040,857 |
Other | Deposits | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 8,438,144 | 6,906,741 |
Other | Financial liabilities at fair value through profit or loss | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 544,916 | 474,080 |
Other | Financial liabilities designated at fair value through profit or loss | ||
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 | 105,134 | 15,564 |
Other | Borrowings | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 692,305 | 139,658 |
Other | Debt securities issued | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 1,652,835 | 1,526,661 |
Other | Others | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 843,635 | 978,153 |
Other | Net asset | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | 3,343,413 | 2,935,484 |
Other | Off-balance derivative exposure | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | (896,933) | (844,534) |
Other | Net position | ||
Foreign currency denominated financial assets and liabilities [Line Items] | ||
Foreign exchange risk | ₩ 2,446,480 | ₩ 2,090,950 |
Maturity analysis for financial
Maturity analysis for financial assets held for managing liquidity risk (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Financial assets | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | ₩ 620,730,141 | ₩ 576,625,030 |
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] | 33,216,254 | 28,449,571 |
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] | 63,113 | 897,525 |
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] | 2,076,099 | 2,230,415 |
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] | 391,885,336 | 360,672,557 |
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] | 56,039,981 | 49,930,015 |
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] | 58,414,773 | 59,499,362 |
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] | 61,251,658 | 57,475,129 |
Others | |||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [Line Items] | |||
Non-derivative financial assets, undiscounted cash flows | [1] | 17,782,927 | 17,470,456 |
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] | 176,370,069 | 166,121,242 |
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] | 30,486,441 | 25,543,400 |
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] | 63,113 | 130,780 |
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] | 31,100 | 29,961 |
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] | 30,170,280 | 28,857,297 |
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] | 44,779,587 | 39,736,655 |
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] | 55,002,284 | 57,317,802 |
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] | 385,809 | 1,214,108 |
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] | 15,451,455 | 13,291,239 |
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] | 43,173,389 | 42,670,989 |
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] | 845,977 | 1,039,822 |
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] | 0 | 150,217 |
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] | 689,261 | 783,429 |
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] | 38,040,760 | 36,706,993 |
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] | 1,413,545 | 1,852,680 |
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] | 10,740 | 0 |
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] | 2,070,392 | 2,015,590 |
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] | 102,714 | 122,258 |
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] | 54,791,811 | 50,257,451 |
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] | 501,733 | 421,453 |
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] | 0 | 594,643 |
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] | 46,369 | 12,638 |
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] | 52,331,623 | 46,672,732 |
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] | 571,552 | 728,518 |
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] | 207 | 0 |
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] | 1,202,211 | 1,704,574 |
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] | 138,116 | 122,893 |
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] | 88,916,765 | 80,063,706 |
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] | 860,975 | 1,145,323 |
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] | 0 | 21,885 |
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] | 117,820 | 142,756 |
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] | 82,840,301 | 74,931,639 |
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] | 1,160,406 | 1,120,791 |
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] | 414 | 40,145 |
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] | 3,649,376 | 2,098,374 |
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] | 287,473 | 562,793 |
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] | 142,310,046 | 124,645,298 |
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] | 4,467 | 50,070 |
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 | 0 |
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] | 310,954 | 773,305 |
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] | 119,243,663 | 103,334,861 |
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] | 3,384,948 | 2,716,677 |
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] | 79,640 | 30,195 |
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] | 19,054,766 | 17,491,024 |
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] | 231,608 | 249,166 |
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] | 115,168,061 | 112,866,344 |
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] | 516,661 | 249,503 |
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] | 880,595 | 488,326 |
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] | 69,258,709 | 70,169,035 |
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] | 4,729,943 | 3,774,694 |
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] | 3,321,488 | 2,111,220 |
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] | 34,889,104 | 32,951,459 |
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] | ₩ 1,571,561 | ₩ 3,122,107 |
[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, 2020 | Dec. 31, 2019 | |
Financial liabilities | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | ₩ 490,603,854 | ₩ 453,598,265 |
Deposits | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 329,350,009 | 299,576,316 |
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] | 1,439,099 | 1,637,983 |
Borrowings | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 41,922,410 | 34,887,838 |
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] | 78,797,906 | 79,832,430 |
Financial liabilities designated 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] | 8,455,724 | 9,409,456 |
Others | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Non-derivative financial liabilities, undiscounted cash flows | [1] | 30,638,706 | 28,254,242 |
Off balance | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | 192,037,822 | 183,214,605 | |
Financial guarantee contracts | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | 4,481,506 | 4,698,558 | |
Loan commitments and other | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | 187,556,316 | 178,516,047 | |
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] | 238,977,763 | 196,005,922 |
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] | 187,299,944 | 149,773,324 |
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] | 1,409,608 | 1,558,186 |
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] | 14,670,192 | 15,314,322 |
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] | 5,872,508 | 5,367,601 |
Less than 1 month | Financial liabilities designated 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] | 596,675 | 487,743 |
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] | 29,128,836 | 23,504,746 |
Less than 1 month | Off balance | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | 192,017,922 | 183,214,605 | |
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 | 4,481,506 | 4,698,558 | |
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 | 187,536,416 | 178,516,047 | |
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] | 38,722,706 | 39,707,074 |
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] | 28,357,521 | 31,415,213 |
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] | 794 | 1,096 |
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] | 3,783,621 | 3,690,803 |
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] | 6,261,775 | 4,370,308 |
1~3 months | Financial liabilities designated 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] | 221,857 | 110,965 |
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] | 97,138 | 118,689 |
1~3 months | Off balance | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | 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 | 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 | 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] | 45,034,147 | 47,506,216 |
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] | 36,578,825 | 38,077,790 |
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] | 7,042 | 12,095 |
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] | 2,920,338 | 3,608,178 |
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] | 5,039,503 | 4,876,333 |
3~6 months | Financial liabilities designated 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] | 336,784 | 678,041 |
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] | 151,655 | 253,779 |
3~6 months | Off balance | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | 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 | 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 | 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] | 78,606,904 | 76,900,651 |
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] | 59,863,780 | 61,746,589 |
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] | 2,785 | 17,997 |
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] | 5,463,070 | 4,028,183 |
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] | 11,457,246 | 8,945,916 |
6 months ~ 1 year | Financial liabilities designated 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] | 1,277,802 | 1,651,198 |
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] | 542,221 | 510,768 |
6 months ~ 1 year | Off balance | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | 19,900 | 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 | 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 | 19,900 | 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] | 75,004,925 | 75,901,665 |
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] | 14,894,480 | 14,972,484 |
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] | 18,870 | 48,609 |
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] | 10,692,374 | 5,244,109 |
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] | 43,712,609 | 49,804,651 |
1~5 years | Financial liabilities designated 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] | 5,043,549 | 5,414,944 |
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] | 643,043 | 416,868 |
1~5 years | Off balance | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | 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 | 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 | 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] | 14,257,409 | 17,576,737 |
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] | 2,355,459 | 3,590,916 |
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] | 4,392,815 | 3,002,243 |
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] | 6,454,265 | 6,467,621 |
More than 5 years | Financial liabilities designated 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] | 979,057 | 1,066,565 |
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] | ₩ 75,813 | 3,449,392 |
More than 5 years | Off balance | |||
Disclosure of maturity analysis for non-derivative financial liabilities and off balance [Line Items] | |||
Off-balance, undiscounted cash flows | 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 | 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 | ₩ 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, 2020 | Dec. 31, 2019 | |
Disclosure of maturity analysis for derivatives [Line Items] | |||
Derivatives | [1] | ₩ 879,379 | ₩ 807,217 |
Less than 1 month | |||
Disclosure of maturity analysis for derivatives [Line Items] | |||
Derivatives | [1] | 419,951 | 407,885 |
1~3 months | |||
Disclosure of maturity analysis for derivatives [Line Items] | |||
Derivatives | [1] | 29,829 | 9,640 |
3~6 months | |||
Disclosure of maturity analysis for derivatives [Line Items] | |||
Derivatives | [1] | 75,483 | 34,228 |
6 months ~ 1 year | |||
Disclosure of maturity analysis for derivatives [Line Items] | |||
Derivatives | [1] | 149,274 | 18,196 |
1~5 years | |||
Disclosure of maturity analysis for derivatives [Line Items] | |||
Derivatives | [1] | 103,770 | 160,292 |
More than 5 years | |||
Disclosure of maturity analysis for derivatives [Line Items] | |||
Derivatives | [1] | ₩ 101,072 | ₩ 176,976 |
[1] | These amounts include cash flows of principal and interest on financial assets. |
Fair Value measurement of finan
Fair Value measurement of financial assets measured at fair value (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | ₩ 123,041,430 | ₩ 115,373,470 |
Due from banks at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 63,112 | 897,525 |
Loan receivables measured at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 2,016,801 | 2,154,821 |
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 | 55,086,692 | 48,401,142 |
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 | 1,736,459 | 1,597,940 |
Financial assets at fair value through profit or loss | Gold and silver deposits | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 188,339 | 111,715 |
Derivative assets | Trading purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 5,157,412 | 2,586,068 |
Derivative assets | Hedging purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 476,503 | 243,206 |
Securities at fair value through other comprehensive income | Debt securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 57,409,433 | 58,573,094 |
Securities at fair value through other comprehensive income | Equity securities | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 906,679 | 807,959 |
Level 1 | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 25,724,740 | 24,418,112 |
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 | 7,029,453 | 6,304,161 |
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 | 693,816 | 890,714 |
Level 1 | Financial assets at fair value through profit or loss | Gold and silver deposits | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 188,339 | 111,715 |
Level 1 | Derivative assets | Trading purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 125,339 | 35,711 |
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 | 17,515,390 | 16,892,704 |
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 | 172,403 | 183,107 |
Level 2 | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 85,263,917 | 78,068,155 |
Level 2 | Due from banks at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 0 | 66,870 |
Level 2 | Loan receivables measured at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 708,111 | 686,446 |
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 | 39,335,739 | 33,145,583 |
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 | 210,230 | 195,395 |
Level 2 | Financial assets at fair value through profit or loss | Gold and silver 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 | 4,623,218 | 2,088,307 |
Level 2 | Derivative assets | Hedging purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 475,708 | 240,430 |
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 | 39,861,238 | 41,645,124 |
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 | 49,673 | 0 |
Level 3 | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 12,052,773 | 12,887,203 |
Level 3 | Due from banks at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 63,112 | 830,655 |
Level 3 | Loan receivables measured at FVTPL | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 1,308,690 | 1,468,375 |
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 | 8,721,500 | 8,951,398 |
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 | 832,413 | 511,831 |
Level 3 | Financial assets at fair value through profit or loss | Gold and silver 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 | 408,855 | 462,050 |
Level 3 | Derivative assets | Hedging purpose | ||
Fair Value measurement of financial assets measured at fair value [Line Items] | ||
Carrying value | 795 | 2,776 |
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 | 32,805 | 35,266 |
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 | ₩ 684,603 | ₩ 624,852 |
Fair Value measurement of fin_2
Fair Value measurement of financial liabilities measured at fair value (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | ₩ 14,908,985 | ₩ 13,344,925 |
Financial liabilities measured at FVTPL | Securities sold | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 897,129 | 1,164,697 |
Financial liabilities measured at FVTPL | Gold and silver deposits | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 539,565 | 467,760 |
Financial liabilities designated at fair value through profit or loss | Derivatives-combined securities | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 8,455,724 | 9,409,456 |
Derivative liabilities | Trading purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 4,680,064 | 2,001,004 |
Derivative liabilities | Hedging purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 336,503 | 302,008 |
Level 1 | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 1,598,322 | 1,679,311 |
Level 1 | Financial liabilities measured at FVTPL | Securities sold | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 897,129 | 1,164,697 |
Level 1 | Financial liabilities measured at FVTPL | Gold and silver deposits | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 539,565 | 467,760 |
Level 1 | Financial liabilities designated at fair value through profit or loss | 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 | 161,628 | 46,854 |
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 | 4,978,984 | 2,845,155 |
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 and silver 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 | Derivatives-combined securities | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 314,220 | 897,967 |
Level 2 | Derivative liabilities | Trading purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 4,431,080 | 1,834,930 |
Level 2 | Derivative liabilities | Hedging purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 233,684 | 112,258 |
Level 3 | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 8,331,679 | 8,820,459 |
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 and silver 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 | Derivatives-combined securities | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 8,141,504 | 8,511,489 |
Level 3 | Derivative liabilities | Trading purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | 87,356 | 119,220 |
Level 3 | Derivative liabilities | Hedging purpose | ||
Fair Value measurement of financial liabilities measured at fair value [Line Items] | ||
Carrying value | ₩ 102,819 | ₩ 189,750 |
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, 2020 | Dec. 31, 2019 | ||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Recognized in profit (loss) for the year | ₩ (122,382) | ₩ (172,063) | |
Financial assets at fair value through profit or loss | |||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Beginning balance | 11,762,259 | 7,122,565 | |
Recognized in profit (loss) for the year | (59,931) | 61,738 | |
Recognized in other comprehensive income (loss) for the year | 69,819 | 125,037 | |
Purchase | 4,461,802 | 5,941,978 | |
Issue | 0 | 0 | |
Settlement | (5,231,666) | (2,332,781) | |
Reclassification | (377,641) | 0 | |
Transfer to level3 | [1] | 358,123 | 162,906 |
Transfer from level3 | [1] | (57,513) | (27,075) |
Business combination (Note 47) | 463 | 707,891 | |
Ending balance | 10,925,715 | 11,762,259 | |
Securities at fair value through other comprehensive income | |||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Beginning balance | 660,118 | 550,505 | |
Recognized in profit (loss) for the year | (2,094) | 1,461 | |
Recognized in other comprehensive income (loss) for the year | (2,521) | 34,716 | |
Purchase | 61,919 | 103,564 | |
Issue | 0 | 0 | |
Settlement | (14) | (22,842) | |
Reclassification | 0 | (7,286) | |
Transfer to level3 | [1] | 0 | 0 |
Transfer from level3 | [1] | 0 | 0 |
Business combination (Note 47) | 0 | 0 | |
Ending balance | 717,408 | 660,118 | |
Financial liabilities designated at fair value through profit or loss | |||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Beginning balance | (8,511,489) | (6,833,737) | |
Recognized in profit (loss) for the year | (196,743) | (826,594) | |
Recognized in other comprehensive income (loss) for the year | (9,689) | (13,654) | |
Purchase | 0 | 0 | |
Issue | (9,043,503) | (8,821,680) | |
Settlement | 9,928,472 | 7,984,176 | |
Reclassification | 0 | 0 | |
Transfer to level3 | [1] | (308,552) | 0 |
Transfer from level3 | [1] | 0 | 0 |
Business combination (Note 47) | 0 | 0 | |
Ending balance | (8,141,504) | (8,511,489) | |
Derivative assets and liabilities, net | |||
Changes in carrying values of financial instruments classified as Level 3 [Line Items] | |||
Beginning balance | 155,856 | (526,223) | |
Recognized in profit (loss) for the year | 136,386 | 591,332 | |
Recognized in other comprehensive income (loss) for the year | 0 | 0 | |
Purchase | 1,171 | 2,221 | |
Issue | 0 | 0 | |
Settlement | (74,584) | 88,312 | |
Reclassification | 0 | 0 | |
Transfer to level3 | [1] | 625 | 248 |
Transfer from level3 | [1] | 21 | (34) |
Business combination (Note 47) | 0 | 0 | |
Ending balance | ₩ 219,475 | ₩ 155,856 | |
[1] | The investment securities transferred to Level 3 as the availability of observable market data changed due to reasons such as suspension of trading, and the derivative instruments transferred to Level 3 as the availability of observable market data changed due to reasons such as changes in the valuation. |
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, 2020 | Dec. 31, 2019 | |
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 | ₩ (122,382) | ₩ (172,063) |
Recognized profit or loss from the financial instruments held as of December 31 | 26,867 | 68,537 |
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 | (8,304) | 544,849 |
Recognized profit or loss from the financial instruments held as of December 31 | (180,419) | 23,912 |
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 | (196,743) | (826,594) |
Recognized profit or loss from the financial instruments held as of December 31 | 189,885 | (66,113) |
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 | (2,094) | 1,461 |
Recognized profit or loss from the financial instruments held as of December 31 | (2,094) | 1,191 |
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 | 84,759 | 108,221 |
Recognized profit or loss from the financial instruments held as of December 31 | ₩ 19,495 | ₩ 109,547 |
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, 2020 | Dec. 31, 2019 | ||
Level 2 | |||
Valuation techniques and inputs used in measuring the fair value of financial assets classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 85,263,917 | ₩ 78,068,155 | |
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 | ₩ 40,254,080 | ₩ 34,094,294 | |
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 | ₩ 40,043,850 | ₩ 33,898,899 | |
Significant unobservable inputs and range | Discount rate, interest rate, stock price, and etc. | Discount rate, interest rate, stock price, and etc. | |
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 | ₩ 210,230 | ₩ 195,395 | |
Significant unobservable inputs and range | Price of underlying assets such as stocks, bonds, etc. | Price of underlying assets such as stocks, bonds | |
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 | ₩ 5,098,926 | ₩ 2,328,737 | |
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 | |
Carrying value | ₩ 4,623,218 | ₩ 2,088,307 | |
Significant unobservable inputs and range | Discount rate, foreign exchange rate, volatility, stock price, and commodity index, etc. | Discount rate, foreign exchange rate, volatility, stock price, and 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 | |
Carrying value | ₩ 475,708 | ₩ 240,430 | |
Significant unobservable inputs and range | Discount rate, foreign exchange rate, volatility, stock price, and commodity index, etc. | Discount rate, foreign exchange rate, volatility, stock price, and 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] | |||
Carrying value | ₩ 39,910,911 | ₩ 41,645,124 | |
Level 2 | 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 | ₩ 39,861,238 | ₩ 41,645,124 | |
Significant unobservable inputs and range | Interest rate, discount rate and price of underlying assets such as stock, bonds, etc. | Discount rate, growth rate and price of underlying assets such as stock, bonds, etc. | |
Level 2 | 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 | ₩ 49,673 | ₩ 0 | |
Significant unobservable inputs and range | Discount rate and price of underlying assets such as stock, bonds, etc. | Discount rate and price of underlying assets such as stock, bonds, 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 | ₩ 12,052,773 | ₩ 12,887,203 | |
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 | ₩ 10,925,715 | ₩ 11,762,259 | |
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, Comparable company analysis | DCF, Option model |
Carrying value | ₩ 10,093,302 | ₩ 11,250,428 | |
Significant unobservable inputs and range | The volatility of the underlying asset(5.06%~61.32%) Discount rate(0.35%~27.17%) Correlations(0.00%~100.0%) | The volatility of the underlying asset(0.00%~46.36%) Discount rate(1.14%~30.70%) | |
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, Option model, Comparable company analysis | DCF, NAV |
Carrying value | ₩ 832,413 | ₩ 511,831 | |
Significant unobservable inputs and range | The volatility of the underlying asset(21.00%~40.00%) Correlations(20.00%~79.00%) Discount rate(5.83%~16.87%) | The volatility of the underlying asset(1.00%~43.00%) Correlations(5.00%~88.00%) Discount rate(5.06%~15.42%) | |
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 | ₩ 409,650 | ₩ 464,826 | |
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 | ₩ 113,496 | ₩ 145,011 | |
Significant unobservable inputs and range | The volatility of the underlying asset(4.30%~127.00%) Correlations(-3.00%~82.00%) | The volatility of the underlying asset(1.51%~56.00%) Correlations(-42.00%~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 | ₩ 23,112 | ₩ 30,983 | |
Significant unobservable inputs and range | The volatility of the underlying asset(0.47%~1.00%) Regression coefficient(0.30%~0.58%) Correlations(26.00%~90.45%) | The volatility of the underlying asset(0.50%~0.67%) Regression coefficient(1.30%~1.57%) Correlations(59.53%) | |
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 | ₩ 273,042 | ₩ 288,832 | |
Significant unobservable inputs and range | The volatility of the underlying asset(1.00%~40.00%) Correlations(-43.00%~92.00%) | The volatility of the underlying asset(0.00%~39.00%) Correlations(0.00%~93.00%) | |
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 | ₩ 717,408 | ₩ 660,118 | |
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, NAV, Option model, Comparable company analysis | DCF, NAV |
Carrying value | ₩ 32,805 | ₩ 35,266 | |
Significant unobservable inputs and range | The volatility of the underlying asset(22.11%) Discount rate(0.05%~19.05%) Growth rate(0.00%~2.00%) | Discount rate(7.78%~19.32%) Growth rate(0.00%~2.00%) | |
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] | DCF, NAV, Option model, Comparable company analysis | DCF, NAV |
Carrying value | ₩ 684,603 | ₩ 624,852 | |
Significant unobservable inputs and range | The volatility of the underlying asset(22.11%) Discount rate(0.05%~19.05%) Growth rate(0.00%~2.00%) | Discount rate(7.78%~19.32%) Growth rate(0.00%~2.00%) | |
[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, 2020 | Dec. 31, 2019 | ||
Level 2 | |||
Valuation techniques and inputs used in measuring the fair value of financial liabilities classified as level 2 & 3 [Line Items] | |||
Carrying value | ₩ 4,978,984 | ₩ 2,845,155 | |
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 | ₩ 314,220 | ₩ 897,967 | |
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 | ₩ 4,664,764 | ₩ 1,947,188 | |
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 | ₩ 4,431,080 | ₩ 1,834,930 | |
Significant unobservable inputs and range | Discount rate, foreign exchange rate, volatility, stock price, and commodity index, etc. | Discount rate, foreign exchange rate, volatility, stock price, and 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 | ₩ 233,684 | ₩ 112,258 | |
Significant unobservable inputs and range | Discount rate, foreign exchange rate, volatility, stock price, and commodity index, etc. | Discount rate, foreign exchange rate, volatility, stock price, and 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 | ₩ 8,331,679 | ₩ 8,820,459 | |
Level 3 | Financial liabilities designated at fair value through profit or loss | |||
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 | ₩ 8,141,504 | ₩ 8,511,489 | |
Significant unobservable inputs and range | The volatility of the underlying asset(1.00%~127.00%) Correlations( -43.00%~92.00%) | The volatility of the underlying asset(0.00%~140.00%) Correlations(-46.00%~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 | ₩ 190,175 | ₩ 308,970 | |
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 | ₩ 25,525 | ₩ 30,412 | |
Significant unobservable inputs and range | The volatility of the underlying asset(4.30%~61.00%) Correlations(-3.00%~82.00%) | The volatility of the underlying asset(0.00%~140.00%) Correlations(0.00%~78.00%) | |
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 | ₩ 134,759 | ₩ 213,170 | |
Significant unobservable inputs and range | The volatility of the underlying asset(0.47%~40.00%) Regression coefficient(0.30%~0.63%) Correlations(20.13%~90.34%) | The volatility of the underlying asset(0.00%~55.00%) Regression coefficient(1.30%~2.77%) Correlations(45.06%~90.34%) | |
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 | ₩ 29,891 | ₩ 65,388 | |
Significant unobservable inputs and range | The volatility of the underlying asset(1.00%~102.00%) Correlations(-43.00%~92.00%) | The volatility of the underlying asset(0.00%~109.00%) Correlations(-46.00%~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, 2020 | Dec. 31, 2019 | |
Financial assets | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Assets | ₩ 103,649 | ₩ 105,158 |
Unfavorable Changes - Financial Assets | (91,123) | (67,985) |
Financial liabilities | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Liabilities | 90,018 | 72,054 |
Unfavorable Changes - Financial Liabilities | (90,058) | (75,829) |
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 | 76,832 | 68,900 |
Unfavorable Changes - Financial Assets | (70,079) | (45,802) |
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 | 53,821 | 44,108 |
Unfavorable Changes - Financial Assets | (48,547) | (23,618) |
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 | 23,011 | 24,792 |
Unfavorable Changes - Financial Assets | (21,532) | (22,184) |
Effects on profit or loss for the period | Financial liabilities designated at fair value through profit or loss | ||
Sensitivity analysis for fair value measurements in Level 3 [Line Items] | ||
Favorable Changes - Financial Liabilities | 72,042 | 55,224 |
Unfavorable Changes - Financial Liabilities | (71,690) | (53,294) |
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 | 17,976 | 16,830 |
Unfavorable Changes - Financial Liabilities | (18,368) | (22,535) |
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 | 26,817 | 36,258 |
Unfavorable Changes - Financial Assets | ₩ (21,044) | ₩ (22,183) |
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, 2020 | Dec. 31, 2019 |
Loans at amortized cost: | ||
Retails | ₩ 146,789,916 | ₩ 134,423,473 |
Corporations | 179,011,251 | 161,029,877 |
Credit card | 23,759,422 | 24,024,491 |
Securities at amortized cost: | ||
Other financial assets | 20,341,191 | 17,477,778 |
Borrowings debts: | ||
Borrowings | 41,594,064 | 34,863,156 |
Debts: | ||
Other financial liabilities | 34,129,626 | 28,231,911 |
Carrying value | ||
Assets: | ||
Deposits at amortized cost | 31,605,262 | 25,840,858 |
Loans at amortized cost: | ||
Retails | 146,843,366 | 134,510,282 |
Corporations | 177,046,416 | 159,560,873 |
Public and other funding loans | 4,021,926 | 3,427,855 |
Loans between banks | 5,487,147 | 2,629,999 |
Credit card | 22,822,664 | 23,115,970 |
Securities at amortized cost: | ||
Government bonds | 31,816,320 | 30,385,084 |
Financial institution bonds | 3,835,577 | 4,770,204 |
Debentures | 11,630,726 | 10,426,777 |
Other financial assets | 20,341,191 | 17,477,778 |
Financial assets at amortized cost, Total | 455,450,595 | 412,145,680 |
Deposit liabilities: | ||
Demand deposits | 148,725,197 | 116,282,707 |
Time deposits | 157,833,891 | 158,427,447 |
Certificate of deposit | 5,946,704 | 9,707,791 |
Issued bill deposit | 6,226,937 | 4,579,587 |
CMA Deposits | 4,006,319 | 3,987,372 |
Other | 3,677,820 | 1,889,352 |
Borrowings debts: | ||
Call-money | 1,760,042 | 712,247 |
Bills sold | 10,706 | 19,070 |
Bonds sold under repurchase agreements | 11,065,584 | 9,089,736 |
Borrowings | 28,757,732 | 25,042,103 |
Debts: | ||
Borrowings in won | 64,083,920 | 64,717,212 |
Borrowings in foreign currency | 11,050,474 | 10,646,152 |
Other financial liabilities | 34,129,626 | 28,231,911 |
Financial liabilities at amortized cost, Total | 477,274,952 | 433,332,687 |
Fair value | ||
Assets: | ||
Deposits at amortized cost | 31,607,122 | 25,852,497 |
Loans at amortized cost: | ||
Retails | 147,634,589 | 135,620,862 |
Corporations | 178,420,230 | 160,818,205 |
Public and other funding loans | 4,048,167 | 3,446,485 |
Loans between banks | 5,495,236 | 2,644,603 |
Credit card | 23,220,987 | 23,489,180 |
Securities at amortized cost: | ||
Government bonds | 33,391,597 | 32,242,339 |
Financial institution bonds | 3,987,172 | 4,882,081 |
Debentures | 12,075,175 | 10,878,059 |
Other financial assets | 20,359,778 | 17,493,331 |
Financial assets at amortized cost, Total | 460,240,053 | 417,367,642 |
Deposit liabilities: | ||
Demand deposits | 148,725,197 | 116,282,707 |
Time deposits | 157,936,969 | 158,478,949 |
Certificate of deposit | 5,965,139 | 9,714,806 |
Issued bill deposit | 6,226,855 | 4,579,425 |
CMA Deposits | 4,006,319 | 3,987,372 |
Other | 3,678,316 | 1,889,700 |
Borrowings debts: | ||
Call-money | 1,760,042 | 712,247 |
Bills sold | 10,696 | 19,035 |
Bonds sold under repurchase agreements | 11,065,584 | 9,089,736 |
Borrowings | 28,863,015 | 25,205,292 |
Debts: | ||
Borrowings in won | 64,842,258 | 65,322,413 |
Borrowings in foreign currency | 11,262,332 | 10,783,027 |
Other financial liabilities | 34,136,128 | 27,949,306 |
Financial liabilities at amortized cost, Total | 478,478,850 | 434,014,015 |
Level 1 | ||
Assets: | ||
Deposits at amortized cost | 779,759 | 3,133,425 |
Loans at amortized cost: | ||
Retails | 0 | 0 |
Corporations | 0 | 108 |
Public and other funding loans | 0 | 0 |
Loans between banks | 0 | 0 |
Credit card | 0 | 0 |
Securities at amortized cost: | ||
Government bonds | 22,130,487 | 20,524,820 |
Financial institution bonds | 1,070,220 | 2,252,484 |
Debentures | 0 | 0 |
Other financial assets | 0 | 526,813 |
Financial assets at amortized cost, Total | 23,980,466 | 26,437,650 |
Deposit liabilities: | ||
Demand deposits | 0 | 1,053,963 |
Time deposits | 0 | 0 |
Certificate of deposit | 0 | 0 |
Issued bill deposit | 0 | 0 |
CMA Deposits | 0 | 0 |
Other | 0 | 1,747,509 |
Borrowings debts: | ||
Call-money | 0 | 174,000 |
Bills sold | 0 | 0 |
Bonds sold under repurchase agreements | 95,400 | 6,734,162 |
Borrowings | 0 | 0 |
Debts: | ||
Borrowings in won | 0 | 0 |
Borrowings in foreign currency | 0 | 0 |
Other financial liabilities | 0 | 526,685 |
Financial liabilities at amortized cost, Total | 95,400 | 10,236,319 |
Level 2 | ||
Assets: | ||
Deposits at amortized cost | 29,957,444 | 22,149,706 |
Loans at amortized cost: | ||
Retails | 0 | 0 |
Corporations | 0 | 0 |
Public and other funding loans | 0 | 0 |
Loans between banks | 2,187,270 | 960,827 |
Credit card | 0 | 0 |
Securities at amortized cost: | ||
Government bonds | 11,261,110 | 11,717,519 |
Financial institution bonds | 2,916,952 | 2,629,597 |
Debentures | 11,994,724 | 10,792,000 |
Other financial assets | 8,661,345 | 10,813,821 |
Financial assets at amortized cost, Total | 66,978,845 | 59,063,470 |
Deposit liabilities: | ||
Demand deposits | 148,725,197 | 115,216,336 |
Time deposits | 0 | 0 |
Certificate of deposit | 0 | 0 |
Issued bill deposit | 0 | 0 |
CMA Deposits | 4,006,319 | 3,987,372 |
Other | 3,534,696 | 0 |
Borrowings debts: | ||
Call-money | 1,760,042 | 538,247 |
Bills sold | 0 | 0 |
Bonds sold under repurchase agreements | 0 | 0 |
Borrowings | 8,500 | 0 |
Debts: | ||
Borrowings in won | 35,740,750 | 43,747,553 |
Borrowings in foreign currency | 7,944,242 | 7,535,065 |
Other financial liabilities | 10,383,020 | 7,932,723 |
Financial liabilities at amortized cost, Total | 212,102,766 | 178,957,296 |
Level 3 | ||
Assets: | ||
Deposits at amortized cost | 869,919 | 569,366 |
Loans at amortized cost: | ||
Retails | 147,634,589 | 135,620,862 |
Corporations | 178,420,230 | 160,818,097 |
Public and other funding loans | 4,048,167 | 3,446,485 |
Loans between banks | 3,307,966 | 1,683,776 |
Credit card | 23,220,987 | 23,489,180 |
Securities at amortized cost: | ||
Government bonds | 0 | 0 |
Financial institution bonds | 0 | 0 |
Debentures | 80,451 | 86,059 |
Other financial assets | 11,698,433 | 6,152,697 |
Financial assets at amortized cost, Total | 369,280,742 | 331,866,522 |
Deposit liabilities: | ||
Demand deposits | 0 | 12,408 |
Time deposits | 157,936,969 | 158,478,949 |
Certificate of deposit | 5,965,139 | 9,714,806 |
Issued bill deposit | 6,226,855 | 4,579,425 |
CMA Deposits | 0 | 0 |
Other | 143,620 | 142,191 |
Borrowings debts: | ||
Call-money | 0 | 0 |
Bills sold | 10,696 | 19,035 |
Bonds sold under repurchase agreements | 10,970,184 | 2,355,574 |
Borrowings | 28,854,515 | 25,205,292 |
Debts: | ||
Borrowings in won | 29,101,508 | 21,574,860 |
Borrowings in foreign currency | 3,318,090 | 3,247,962 |
Other financial liabilities | 23,753,108 | 19,489,898 |
Financial liabilities at amortized cost, Total | ₩ 266,280,684 | ₩ 244,820,400 |
Valuation techniques and inpu_3
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Level 2 | Financial assets | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 66,978,845 | ₩ 59,063,470 |
Level 2 | Due from banks at amortized cost | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 29,957,444 | ₩ 22,149,706 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Loans at amortized cost | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 2,187,270 | ₩ 960,827 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate, credit spread, prepayment rate | Discount rate, credit spread, prepayment rate |
Level 2 | Securities at amortized cost | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 26,172,786 | ₩ 25,139,116 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Others | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 8,661,345 | ₩ 10,813,821 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Financial liabilities | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 212,102,766 | ₩ 178,957,296 |
Level 2 | Deposits | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 156,266,212 | ₩ 119,203,708 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Borrowings | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 1,768,542 | ₩ 538,247 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Debt securities | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 43,684,992 | ₩ 51,282,618 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 2 | Others | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 10,383,020 | ₩ 7,932,723 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Financial assets | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 369,280,742 | ₩ 331,866,522 |
Level 3 | Due from banks at amortized cost | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 869,919 | ₩ 569,366 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Loans at amortized cost | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 356,631,939 | ₩ 325,058,400 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate, credit spread, prepayment rate | Discount rate, credit spread, prepayment rate |
Level 3 | Securities at amortized cost | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 80,451 | ₩ 86,059 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Others | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 11,698,433 | ₩ 6,152,697 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Financial liabilities | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 266,280,684 | ₩ 244,820,400 |
Level 3 | Deposits | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 170,272,583 | ₩ 172,927,779 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Borrowings | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 39,835,395 | ₩ 27,579,901 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Level 3 | Debt securities | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 32,419,598 | ₩ 24,822,822 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate, regression coefficient, correlation coefficient | Discount rate, regression coefficient, correlation coefficient |
Level 3 | Others | ||
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value [Line Items] | ||
Fair value | ₩ 23,753,108 | ₩ 19,489,898 |
Valuation technique | DCF | DCF |
Significant inputs | Discount rate | Discount rate |
Changes in gains or losses on v
Changes in gains or losses on valuation at the transaction date (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Changes in gains or losses on valuation at the transaction date [Abstract] | ||
Beginning balance | ₩ (172,859) | ₩ (126,111) |
Deferral on new transactions | (347,030) | (178,223) |
Recognized in profit for the year | 227,290 | 131,475 |
Ending balance | ₩ (292,599) | ₩ (172,859) |
Classification by categories of
Classification by categories of financial assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Classification by categories of financial assets [Line Items] | ||
Cash and due from banks at Amortized cost | ₩ 33,410,542 | ₩ 28,423,744 |
Due from banks at fair value through profit or loss | 63,112 | 897,525 |
Securities at fair value through profit or loss | 57,011,490 | 50,110,797 |
Derivative assets | 5,633,915 | 2,829,274 |
Loans at fair value through profit or loss | 2,016,801 | 2,154,821 |
Loans at amortized cost | 356,221,519 | 323,244,979 |
Securities at fair value through other comprehensive income | 58,316,112 | 59,381,053 |
Securities at amortized cost | 47,282,623 | 45,582,065 |
Others | 20,341,191 | 17,477,778 |
Financial assets, Total | 580,297,305 | 530,102,036 |
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 | 63,112 | 897,525 |
Securities at fair value through profit or loss | 57,011,490 | 50,110,797 |
Derivative assets | 5,157,412 | 2,586,068 |
Loans at fair value through profit or loss | 2,016,801 | 2,154,821 |
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 | 64,248,815 | 55,749,211 |
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 | 58,316,112 | 59,381,053 |
Securities at amortized cost | 0 | 0 |
Others | 0 | 0 |
Financial assets, Total | 58,316,112 | 59,381,053 |
Securities at amortized cost | ||
Classification by categories of financial assets [Line Items] | ||
Cash and due from banks at Amortized cost | 33,410,542 | 28,423,744 |
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 | 356,221,519 | 323,244,979 |
Securities at fair value through other comprehensive income | 0 | 0 |
Securities at amortized cost | 47,282,623 | 45,582,065 |
Others | 20,341,191 | 17,477,778 |
Financial assets, Total | 457,255,875 | 414,728,566 |
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 | 476,503 | 243,206 |
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 | ₩ 476,503 | ₩ 243,206 |
Classification by categories _2
Classification by categories of financial liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Classification by categories of financial liabilities [Line Items] | |||
Deposits | ₩ 326,416,868 | ₩ 294,874,256 | |
Financial liabilities at fair value through profit or loss | 1,436,694 | 1,632,457 | |
Financial liabilities designated at fair value through profit or loss | [1] | 8,455,724 | 9,409,456 |
Derivative liabilities | 5,016,567 | 2,303,012 | |
Borrowings | 41,594,064 | 34,863,156 | |
Debt securities issued | 75,134,394 | 75,363,364 | |
Others | 34,129,626 | 28,231,911 | |
Financial liabilities, Total | 492,183,937 | 446,677,612 | |
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 | 1,436,694 | 1,632,457 | |
Financial liabilities designated at fair value through profit or loss | 0 | 0 | |
Derivative liabilities | 4,680,064 | 2,001,004 | |
Borrowings | 0 | 0 | |
Debt securities issued | 0 | 0 | |
Others | 0 | 0 | |
Financial liabilities, Total | 6,116,758 | 3,633,461 | |
Financial liabilities designated 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 | 0 | 0 | |
Financial liabilities designated at fair value through profit or loss | [1] | 8,455,724 | 9,409,456 |
Derivative liabilities | 0 | 0 | |
Borrowings | 0 | 0 | |
Debt securities issued | 0 | 0 | |
Others | 0 | 0 | |
Financial liabilities, Total | 8,455,724 | 9,409,456 | |
Financial liabilities measured at amortized cost | |||
Classification by categories of financial liabilities [Line Items] | |||
Deposits | 326,416,868 | 294,874,256 | |
Financial liabilities at fair value through profit or loss | 0 | 0 | |
Financial liabilities designated at fair value through profit or loss | 0 | 0 | |
Derivative liabilities | 0 | 0 | |
Borrowings | 41,594,064 | 34,863,156 | |
Debt securities issued | 75,134,394 | 75,363,364 | |
Others | 34,129,626 | 28,231,911 | |
Financial liabilities, Total | 477,274,952 | 433,332,687 | |
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 | 0 | 0 | |
Derivative liabilities | 336,503 | 302,008 | |
Borrowings | 0 | 0 | |
Debt securities issued | 0 | 0 | |
Others | 0 | 0 | |
Financial liabilities, Total | ₩ 336,503 | ₩ 302,008 | |
[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, 2020 | Dec. 31, 2019 |
Bonds sold under repurchase agreements | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | ₩ 10,759,778 | ₩ 10,610,893 |
Associated financial liabilities | 11,075,004 | 8,717,336 |
Securities at FVTPL | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 8,915,488 | 7,924,953 |
Securities at fair value through other comprehensive income | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 1,638,651 | 1,867,470 |
Securities at amortized cost | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 205,639 | 818,470 |
Securities loaned | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 3,533,713 | 4,442,163 |
Debt securities | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 3,434,043 | 4,411,921 |
Government | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 3,213,719 | 3,951,869 |
Financial institutions | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | 220,324 | 460,052 |
Equity securities | ||
Transfers that do not qualify for derecognition [Line Items] | ||
Transferred financial assets | ₩ 99,670 | ₩ 30,242 |
Offsetting financial assets (De
Offsetting financial assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | ₩ 68,241,095 | ₩ 56,925,360 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 32,291,342 | 28,328,688 |
Net amounts of financial assets presented in the statement of financial position | 35,949,753 | 28,596,672 |
Related amounts not set off in the statement of financial position (Financial instruments) | 18,958,439 | 21,603,782 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 314,328 | 263,541 |
Net amount | 16,676,986 | 6,729,349 |
Derivatives and other financial instruments | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 23,394,888 | 11,319,080 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 6,502,695 | 1,319,365 |
Net amounts of financial assets presented in the statement of financial position | 16,892,193 | 9,999,715 |
Related amounts not set off in the statement of financial position (Financial instruments) | 4,448,496 | 8,090,372 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 314,328 | 263,541 |
Net amount | 12,129,369 | 1,645,802 |
Bonds purchased under repurchase agreements | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 13,694,305 | 11,828,135 |
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 | 13,694,305 | 11,828,135 |
Related amounts not set off in the statement of financial position (Financial instruments) | 13,185,633 | 11,051,075 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 508,672 | 777,060 |
Securities loaned | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 1,202,494 | 1,927,674 |
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 | 1,202,494 | 1,927,674 |
Related amounts not set off in the statement of financial position (Financial instruments) | 1,202,494 | 1,927,674 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 0 | 0 |
Domestic exchange settlement debit | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 29,911,693 | 31,814,310 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 25,785,507 | 27,008,189 |
Net amounts of financial assets presented in the statement of financial position | 4,126,186 | 4,806,121 |
Related amounts not set off in the statement of financial position (Financial instruments) | 116,290 | 526,653 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 4,009,896 | 4,279,468 |
Receivables from disposal of securities | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 29,341 | 25,808 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 3,140 | 1,134 |
Net amounts of financial assets presented in the statement of financial position | 26,201 | 24,674 |
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 | 26,201 | 24,674 |
Insurance receivables | ||
Net amounts of financial assets presented: | ||
Gross amounts of recognized financial assets | 8,374 | 10,353 |
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 | 8,374 | 10,353 |
Related amounts not set off in the statement of financial position (Financial instruments) | 5,526 | 8,008 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | ₩ 2,848 | ₩ 2,345 |
Offsetting financial liabilitie
Offsetting financial liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | ₩ 74,071,526 | ₩ 59,114,509 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 32,291,342 | 28,328,688 |
Net amounts of financial liabilities presented in the statement of financial position | 41,780,184 | 30,785,821 |
Related amounts not set off in the statement of financial position (Financial instruments) | 20,753,569 | 19,998,507 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 1,000 | 11,693 |
Net amount | 21,025,615 | 10,775,621 |
Derivatives and other financial instruments | ||
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | 30,494,674 | 20,315,089 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 6,502,695 | 1,319,365 |
Net amounts of financial liabilities presented in the statement of financial position | 23,991,979 | 18,995,724 |
Related amounts not set off in the statement of financial position (Financial instruments) | 5,490,974 | 8,279,924 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 1,000 | 11,693 |
Net amount | 18,500,005 | 10,704,107 |
Bonds sold under repurchase agreements | ||
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | 11,065,584 | 8,717,336 |
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 | 11,065,584 | 8,717,336 |
Related amounts not set off in the statement of financial position (Financial instruments) | 10,260,684 | 8,717,336 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 804,900 | 0 |
Securities borrowed | ||
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | 897,129 | 1,135,614 |
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 | 897,129 | 1,135,614 |
Related amounts not set off in the statement of financial position (Financial instruments) | 897,129 | 1,135,614 |
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 | 31,605,249 | 28,936,661 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 25,785,507 | 27,008,189 |
Net amounts of financial liabilities presented in the statement of financial position | 5,819,742 | 1,928,472 |
Related amounts not set off in the statement of financial position (Financial instruments) | 4,099,248 | 1,857,152 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | 1,720,494 | 71,320 |
Payable from purchase of securities | ||
Net amounts of financial liabilities presented: | ||
Gross amounts of recognized financial liabilities | 3,148 | 1,607 |
Gross amounts of recognized financial liabilities set off in the statement of financial position | 3,140 | 1,134 |
Net amounts of financial liabilities presented in the statement of financial position | 8 | 473 |
Related amounts not set off in the statement of financial position (Financial instruments) | 8 | 473 |
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 | 5,742 | 8,202 |
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 | 5,742 | 8,202 |
Related amounts not set off in the statement of financial position (Financial instruments) | 5,526 | 8,008 |
Related amounts not set off in the statement of financial position (Cash collateral received) | 0 | 0 |
Net amount | ₩ 216 | ₩ 194 |
The capital adequacy ratio of t
The capital adequacy ratio of the Group (Details) ₩ in Millions | Dec. 31, 2020KRW (₩) | Dec. 31, 2019KRW (₩) |
The capital adequacy ratio of the Group [Abstract] | ||
Tier I common equity capital | ₩ 32,461,864 | ₩ 28,561,568 |
Additional tier 1 capital | 3,805,372 | 3,138,262 |
Tier I capital | 36,267,236 | 31,699,830 |
Tier II capital | 3,441,841 | 4,014,740 |
Total capital (A) | 39,709,077 | 35,714,570 |
Total risk-weighted assets (B) | ₩ 252,321,426 | ₩ 256,891,664 |
Capital adequacy ratio (A/B) | 0.1574 | 0.1390 |
Tier I capital adequacy ratio | 0.1437 | 0.1234 |
Common equity capital adequacy ratio | 0.1287 | 0.1112 |
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, 2020 | Dec. 31, 2019 |
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | ₩ 605,234,104 | ₩ 552,419,581 |
Total liabilities | 558,877,246 | 510,489,200 |
Total equity | 46,356,858 | 41,930,381 |
Shinhan Financial Group (Separate) | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 35,483,914 | 32,261,322 |
Total liabilities | 10,426,817 | 9,795,896 |
Total equity | 25,057,097 | 22,465,426 |
Shinhan Bank Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 427,675,103 | 392,723,044 |
Total liabilities | 400,009,589 | 366,629,929 |
Total equity | 27,665,514 | 26,093,115 |
Shinhan Card Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 34,885,223 | 32,917,910 |
Total liabilities | 28,465,675 | 26,769,044 |
Total equity | 6,419,548 | 6,148,866 |
Shinhan Investment Corp. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 46,632,433 | 37,375,487 |
Total liabilities | 42,258,341 | 33,138,930 |
Total equity | 4,374,092 | 4,236,557 |
Shinhan Life Insurance Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 36,777,496 | 34,133,649 |
Total liabilities | 34,232,052 | 32,062,490 |
Total equity | 2,545,444 | 2,071,159 |
Orange Life Insurance Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 33,813,587 | 32,841,359 |
Total liabilities | 30,574,073 | 29,654,711 |
Total equity | 3,239,514 | 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 | 8,901,349 | 7,566,428 |
Total liabilities | 7,710,010 | 6,612,519 |
Total equity | 1,191,339 | 953,909 |
Jeju Bank | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 6,531,838 | 6,192,927 |
Total liabilities | 6,022,397 | 5,695,223 |
Total equity | 509,441 | 497,704 |
Shinhan Credit Information Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 27,806 | 25,292 |
Total liabilities | 10,826 | 10,044 |
Total equity | 16,980 | 15,248 |
Shinhan Alternative Investment Management Inc. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 87,053 | 87,694 |
Total liabilities | 71,591 | 75,665 |
Total equity | 15,462 | 12,029 |
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 | 191,127 | 184,203 |
Total liabilities | 20,530 | 19,678 |
Total equity | 170,597 | 164,525 |
SHC Management Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 9,644 | 9,639 |
Total liabilities | 0 | 0 |
Total equity | 9,644 | 9,639 |
Shinhan DS | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 95,150 | 89,141 |
Total liabilities | 70,916 | 67,954 |
Total equity | 24,234 | 21,187 |
Shinhan Savings Bank | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 1,842,231 | 1,602,902 |
Total liabilities | 1,635,433 | 1,418,317 |
Total equity | 206,798 | 184,585 |
Asia Trust Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 259,899 | 172,793 |
Total liabilities | 85,274 | 43,933 |
Total equity | 174,625 | 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 | 87,378 | 77,086 |
Total liabilities | 12,159 | 10,962 |
Total equity | 75,219 | 66,124 |
Shinhan REITs Management Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 52,555 | 45,832 |
Total liabilities | 8,582 | 5,619 |
Total equity | 43,973 | 40,213 |
Shinhan AI Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 42,903 | 42,402 |
Total liabilities | 1,890 | 1,674 |
Total equity | 41,013 | ₩ 40,728 |
Neoplux Co., Ltd. | ||
Investments in subsidiaries - Condensed financial position for the controlling company and the Group's subsidiaries [Line Items] | ||
Total assets | 72,550 | |
Total liabilities | 12,697 | |
Total equity | ₩ 59,853 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Net income | ₩ 3,498,076 | ₩ 3,642,384 | ₩ 3,198,265 |
Total comprehensive income | 3,324,232 | 4,208,294 | 3,249,557 |
Shinhan Financial Group (Separate) | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 1,718,407 | 1,480,030 | 1,519,197 |
Net income | 1,274,443 | 1,129,173 | 1,234,883 |
Total comprehensive income | 1,274,892 | 1,127,202 | 1,234,044 |
Shinhan Bank Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 25,049,392 | 23,145,476 | 19,731,711 |
Net income | 2,078,232 | 2,329,268 | 2,279,362 |
Total comprehensive income | 1,911,575 | 2,527,665 | 2,333,266 |
Shinhan Card Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 4,091,178 | 3,892,257 | 3,752,232 |
Net income | 606,554 | 509,032 | 517,761 |
Total comprehensive income | 599,451 | 486,114 | 477,135 |
Shinhan Investment Corp. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 9,290,965 | 6,139,926 | 5,279,567 |
Net income | 154,531 | 220,764 | 251,268 |
Total comprehensive income | 147,210 | 225,963 | 269,058 |
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 | 5,405,933 | 5,413,175 | 5,633,679 |
Net income | 177,834 | 123,870 | 131,021 |
Total comprehensive income | 227,596 | 326,783 | 150,997 |
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 | 4,456,340 | 4,662,085 | |
Net income | 279,282 | 271,455 | |
Total comprehensive income | 132,425 | 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 | 626,455 | 455,246 | 439,031 |
Net income | 160,583 | 126,050 | 103,400 |
Total comprehensive income | 162,134 | 123,032 | 100,317 |
Jeju Bank | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 214,615 | 239,732 | 224,766 |
Net income | 17,521 | 27,934 | 27,446 |
Total comprehensive income | 16,557 | 30,519 | 30,579 |
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 | 42,658 | 38,648 | 37,616 |
Net income | 1,493 | 507 | 1,392 |
Total comprehensive income | 1,650 | 658 | 985 |
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 | 17,219 | 32,401 | 21,590 |
Net income | 3,433 | 2,144 | (780) |
Total comprehensive income | 3,433 | 2,144 | (780) |
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 | 88,870 | 84,256 | 78,378 |
Net income | 26,663 | 23,090 | 18,868 |
Total comprehensive income | 26,663 | 22,655 | 18,980 |
SHC Management Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 70 | 154 | 140 |
Net income | 5 | 82 | 309 |
Total comprehensive income | 5 | 82 | 309 |
Shinhan DS | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 164,327 | 138,697 | 99,279 |
Net income | 1,862 | 2,074 | 1,314 |
Total comprehensive income | 2,845 | 1,292 | 1,525 |
Shinhan Savings Bank | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 123,590 | 116,849 | 94,636 |
Net income | 26,953 | 23,122 | 19,384 |
Total comprehensive income | 26,888 | 22,972 | 18,919 |
Asia Trust Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 102,816 | 54,920 | |
Net income | 45,791 | 18,098 | |
Total comprehensive income | 45,765 | 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 | 58,599 | 51,823 | 44,729 |
Net income | 13,020 | 10,821 | 8,461 |
Total comprehensive income | 12,954 | 10,821 | 8,461 |
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 | 12,176 | 7,342 | 7,386 |
Net income | 3,764 | 7,414 | 3,564 |
Total comprehensive income | 3,764 | 7,411 | ₩ 3,552 |
Shinhan AI Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 10,246 | 3,088 | |
Net income | 304 | (654) | |
Total comprehensive income | 284 | ₩ (654) | |
Neoplux Co., Ltd. | |||
Investments in subsidiaries - Condensed comprehensive income statement for the controlling company and the Group's subsidiaries [Line Items] | |||
Operating income | 3,500 | ||
Net income | (1,146) | ||
Total comprehensive income | ₩ (1,015) |
Information of income and expen
Information of income and expense for each operating segment (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | ₩ 9,882,700 | ₩ 9,737,964 | ₩ 8,580,089 | |
Net fees and commission income | 2,382,933 | 2,140,519 | 1,938,997 | |
Reversal of (provision for) ACL | (1,382,179) | (980,692) | (747,877) | |
General and administrative expenses | (5,212,473) | (5,134,674) | (4,741,575) | |
Other income (expense), net | (741,245) | (716,867) | (530,220) | |
Operating income | 4,929,736 | 5,046,250 | 4,499,414 | |
Equity method income (loss) | 159,533 | 53,287 | 17,488 | |
Income tax expense (benefit) | 1,255,795 | 1,269,124 | 1,268,345 | |
Profit for the year | 3,498,076 | 3,642,384 | 3,198,265 | |
Controlling interest | [1] | 3,414,595 | 3,403,497 | 3,156,722 |
Non-controlling interests | 83,481 | 238,887 | 41,543 | |
Banking | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 6,037,632 | 5,989,462 | 5,707,813 | |
Net fees and commission income | 822,408 | 950,389 | 850,646 | |
Reversal of (provision for) ACL | (690,084) | (389,004) | (250,134) | |
General and administrative expenses | (3,237,641) | (3,177,158) | (3,098,629) | |
Other income (expense), net | (130,488) | (211,882) | (163,104) | |
Operating income | 2,801,827 | 3,161,807 | 3,046,592 | |
Equity method income (loss) | (811) | (764) | (977) | |
Income tax expense (benefit) | 673,972 | 718,650 | 832,494 | |
Profit for the year | 1,999,002 | 2,256,652 | 2,195,263 | |
Controlling interest | 1,998,563 | 2,256,576 | 2,194,950 | |
Non-controlling interests | 439 | 76 | 313 | |
Banking | External customers | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 6,037,205 | 5,995,097 | 5,714,568 | |
Net fees and commission income | 859,225 | 974,636 | 872,631 | |
Banking | Internal transactions | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 427 | (5,635) | (6,755) | |
Net fees and commission income | (36,817) | (24,247) | (21,985) | |
Credit card | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 1,755,039 | 1,753,966 | 1,583,100 | |
Net fees and commission income | 483,486 | 403,259 | 433,043 | |
Reversal of (provision for) ACL | (483,883) | (566,415) | (466,447) | |
General and administrative expenses | (698,796) | (745,848) | (751,580) | |
Other income (expense), net | (169,304) | (33,204) | 74,954 | |
Operating income | 886,542 | 811,758 | 873,070 | |
Income tax expense (benefit) | 251,357 | 205,863 | 225,837 | |
Profit for the year | 703,305 | 609,582 | 629,307 | |
Controlling interest | 703,204 | 609,350 | 630,993 | |
Non-controlling interests | 101 | 232 | (1,686) | |
Credit card | External customers | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 1,809,149 | 1,781,266 | 1,602,849 | |
Net fees and commission income | 531,394 | 436,523 | 464,342 | |
Credit card | Internal transactions | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | (54,110) | (27,300) | (19,749) | |
Net fees and commission income | (47,908) | (33,264) | (31,299) | |
Securities | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 517,044 | 457,852 | 429,095 | |
Net fees and commission income | 544,183 | 351,303 | 388,944 | |
Reversal of (provision for) ACL | (111,796) | 1,325 | (9,226) | |
General and administrative expenses | (565,485) | (511,418) | (493,906) | |
Other income (expense), net | (11,348) | (59,006) | 17,963 | |
Operating income | 372,598 | 240,056 | 332,870 | |
Equity method income (loss) | 37,760 | 18,163 | 15,228 | |
Income tax expense (benefit) | 48,464 | 68,311 | 95,438 | |
Profit for the year | 154,531 | 220,764 | 251,268 | |
Controlling interest | 154,772 | 220,850 | 251,265 | |
Non-controlling interests | (241) | (86) | 3 | |
Securities | External customers | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 526,167 | 450,268 | 423,156 | |
Net fees and commission income | 553,308 | 361,526 | 400,227 | |
Securities | Internal transactions | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | (9,123) | 7,584 | 5,939 | |
Net fees and commission income | (9,125) | (10,223) | (11,283) | |
Life insurance | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 1,608,953 | 1,647,795 | 761,742 | |
Net fees and commission income | 162,284 | 167,324 | 69,780 | |
Reversal of (provision for) ACL | (12,236) | (797) | (13,400) | |
General and administrative expenses | (463,439) | (443,013) | (227,740) | |
Other income (expense), net | (727,530) | (786,103) | (409,151) | |
Operating income | 568,032 | 585,206 | 181,231 | |
Equity method income (loss) | (1,244) | (1,296) | (1,026) | |
Income tax expense (benefit) | 156,698 | 187,608 | 50,429 | |
Profit for the year | 457,116 | 395,325 | 131,021 | |
Controlling interest | 457,116 | 395,325 | 131,021 | |
Life insurance | External customers | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 1,605,575 | 1,647,988 | 762,978 | |
Net fees and commission income | 173,865 | 175,171 | 77,145 | |
Life insurance | Internal transactions | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 3,378 | (193) | (1,236) | |
Net fees and commission income | (11,581) | (7,847) | (7,365) | |
Others | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 166,622 | 127,564 | 95,618 | |
Net fees and commission income | 368,350 | 272,244 | 198,828 | |
Reversal of (provision for) ACL | (85,951) | (25,030) | (10,238) | |
General and administrative expenses | (372,591) | (335,090) | (263,046) | |
Other income (expense), net | 260,873 | 129,272 | 80,857 | |
Operating income | 337,303 | 168,960 | 102,019 | |
Equity method income (loss) | 29,644 | 12,265 | 6,909 | |
Income tax expense (benefit) | 94,094 | 73,213 | 59,556 | |
Profit for the year | 273,575 | 100,259 | 49,168 | |
Controlling interest | 273,575 | 100,259 | 49,168 | |
Others | External customers | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 114,290 | 103,161 | 76,538 | |
Net fees and commission income | 265,141 | 192,663 | 124,652 | |
Others | Internal transactions | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 52,332 | 24,403 | 19,080 | |
Net fees and commission income | 103,209 | 79,581 | 74,176 | |
Consolidation adjustment | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | (202,590) | (238,675) | 2,721 | |
Net fees and commission income | 2,222 | (4,000) | (2,244) | |
Reversal of (provision for) ACL | 1,771 | (771) | 1,568 | |
General and administrative expenses | 125,479 | 77,853 | 93,326 | |
Other income (expense), net | 36,552 | 244,056 | (131,739) | |
Operating income | (36,566) | 78,463 | (36,368) | |
Equity method income (loss) | 94,184 | 24,919 | (2,646) | |
Income tax expense (benefit) | 31,210 | 15,479 | 4,591 | |
Profit for the year | (89,453) | 59,802 | (57,762) | |
Controlling interest | (172,635) | (178,863) | (100,675) | |
Non-controlling interests | 83,182 | 238,665 | 42,913 | |
Consolidation adjustment | External customers | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | (209,686) | (239,816) | 0 | |
Net fees and commission income | 0 | |||
Consolidation adjustment | Internal transactions | ||||
Information of income and expense for each operating segment [Line Items] | ||||
Net interest income | 7,096 | 1,141 | 2,721 | |
Net fees and commission income | ₩ 2,222 | ₩ (4,000) | ₩ (2,244) | |
[1] | The increase in reserve for credit losses, W25,608 million, due to the business combination with Orange Life insurance and Asia Trust for the year ended December 31, 2019 is excluded. |
Financial information of geogra
Financial information of geographical area (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Financial information of geographical area [Line Items] | ||||
Operating income | ₩ 4,929,736 | ₩ 5,046,250 | ₩ 4,499,414 | |
Non-current assets | [1] | 10,085,551 | 10,130,652 | |
Domestic | ||||
Financial information of geographical area [Line Items] | ||||
Operating income | 4,436,252 | 4,378,239 | 4,023,916 | |
Non-current assets | [1] | 9,734,468 | 9,816,600 | |
Overseas | ||||
Financial information of geographical area [Line Items] | ||||
Operating income | 493,484 | 668,011 | ₩ 475,498 | |
Non-current assets | [1] | ₩ 351,083 | ₩ 314,052 | |
[1] | Non-current assets comprise property and equipment, intangible assets and investment properties. |
Cash and Due from Banks At Am_3
Cash and Due from Banks At Amortized Cost (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents : | ||
Cash | ₩ 1,782,301 | ₩ 2,573,579 |
Cash equivalents | 22,979 | 9,307 |
Cash and cash equivalents, total | 1,805,280 | 2,582,886 |
Due from banks at amortized cost : | ||
Deposits | 5,576,206 | 5,616,049 |
Reserve deposits | 16,957,521 | 13,840,988 |
Time deposits | 3,672,473 | 3,807,849 |
Other | 5,409,069 | 2,588,046 |
Due from banks at amortized cost, total | 31,615,269 | 25,852,932 |
Allowance for credit losses | (10,007) | (12,074) |
Cash and Due from banks at amortized cost, total | 33,410,542 | 28,423,744 |
Denominated in Korean won | ||
Cash and cash equivalents : | ||
Cash | 1,782,301 | 2,573,579 |
Cash equivalents | 22,979 | 9,307 |
Cash and cash equivalents, total | 1,805,280 | 2,582,886 |
Due from banks at amortized cost : | ||
Reserve deposits | 16,957,521 | 13,840,988 |
Time deposits | 950,624 | 1,413,964 |
Other | 3,953,337 | 1,890,541 |
Due from banks at amortized cost, total | 21,861,482 | 17,145,493 |
Denominated in foreign currency | ||
Due from banks at amortized cost : | ||
Deposits | 5,576,206 | 5,616,049 |
Time deposits | 2,721,849 | 2,393,885 |
Other | 1,455,732 | 697,505 |
Due from banks at amortized cost, total | ₩ 9,753,787 | ₩ 8,707,439 |
Restricted due from banks at am
Restricted due from banks at amortized cost (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Restricted due from banks at amortized cost [Line Items] | |||
Deposits | ₩ 2,621,129 | ₩ 1,584,239 | |
Reserve deposits | 16,957,521 | 13,840,988 | |
Other | 2,390,761 | 1,081,698 | |
Restricted due from banks at amortized cost, total | 21,969,411 | 16,506,925 | ₩ 6,175,506 |
Denominated in Korean won | |||
Restricted due from banks at amortized cost [Line Items] | |||
Reserve deposits | 16,957,521 | 13,840,988 | |
Other | 2,390,761 | 1,081,698 | |
Restricted due from banks at amortized cost, total | 19,348,282 | 14,922,686 | |
Denominated in foreign currency | |||
Restricted due from banks at amortized cost [Line Items] | |||
Deposits | 2,621,129 | 1,584,239 | |
Restricted due from banks at amortized cost, total | ₩ 2,621,129 | ₩ 1,584,239 |
Financial assets at fair valu_3
Financial assets at fair value through profit or loss (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | ₩ 59,091,403 | ₩ 53,163,143 |
Debt securities | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 55,086,692 | 48,401,142 |
Government | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 4,248,448 | 2,873,419 |
Financial institutions | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 13,997,922 | 12,711,074 |
Corporation | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 9,356,842 | 8,541,514 |
Stocks with put option | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 583,590 | 598,858 |
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 | 1,860,195 | 1,458,933 |
Beneficiary certificates | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 12,451,709 | 10,678,620 |
Commercial Papers | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 6,369,854 | 5,160,063 |
CMA | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 2,806,485 | 3,723,401 |
Others | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 3,411,647 | 2,655,260 |
Equity securities | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 1,736,459 | 1,597,940 |
Stocks | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 1,627,020 | 1,488,743 |
Equity investments | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 1,697 | 0 |
Others | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 107,742 | 109,197 |
Others | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 2,268,252 | 3,164,061 |
Loans at fair value | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | 2,016,801 | 2,154,821 |
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 | 63,112 | 897,525 |
Gold and silver deposits | ||
Financial assets at fair value through profit or loss [Line Items] | ||
Financial assets at fair value through profit or loss | ₩ 188,339 | ₩ 111,715 |
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, 2020 | Dec. 31, 2019 |
Disclosure of financial assets to which overlay approach is applied [Line Items] | ||
Financial assets to which overlay approach is applied | ₩ 4,929,020 | ₩ 6,036,905 |
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 | 63,112 | 897,525 |
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 | ₩ 4,865,908 | ₩ 5,139,380 |
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, 2020 | Dec. 31, 2019 | |
Disclosure of information about overlay approach for associates [Line Items] | ||
Profit or loss IFRS 9 | ₩ 177,688 | ₩ 216,492 |
Profit or loss IAS 39 | 41,438 | (31,093) |
Other comprehensive income Amount | 136,255 | 247,585 |
Other comprehensive income Tax effect | (35,074) | (54,714) |
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 | 123,808 | 150,865 |
Profit or loss IAS 39 | (21,488) | (74,586) |
Other comprehensive income Amount | 145,301 | 225,451 |
Other comprehensive income Tax effect | (39,140) | (50,042) |
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 | 53,806 | 65,627 |
Profit or loss IAS 39 | 62,926 | 43,493 |
Other comprehensive income Amount | (9,120) | 22,134 |
Other comprehensive income Tax effect | 4,086 | ₩ (4,672) |
Net gain (loss) on foreign currency conversion 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 | 74 | |
Profit or loss IAS 39 | 0 | |
Other comprehensive income Amount | 74 | |
Other comprehensive income Tax effect | ₩ (20) |
Notional amounts of derivatives
Notional amounts of derivatives (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | ₩ 290,049,318 | ₩ 321,461,303 |
Trading purpose | Foreign currency related | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 154,733,001 | 182,014,087 |
Trading purpose | Foreign currency related | Over the counter | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 153,630,467 | 180,968,949 |
Trading purpose | Foreign currency related | Over the counter | Forward contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 117,566,233 | 137,383,704 |
Trading purpose | Foreign currency related | Over the counter | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 33,562,251 | 40,826,444 |
Trading purpose | Foreign currency related | Over the counter | Option contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 2,501,983 | 2,758,801 |
Trading purpose | Foreign currency related | Exchange traded | Futures contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 1,102,534 | 1,045,138 |
Trading purpose | Interest rates related | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 107,470,855 | 106,411,518 |
Trading purpose | Interest rates related | Over the counter | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 36,530,081 | 38,087,528 |
Trading purpose | Interest rates related | Over the counter | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 36,205,843 | 37,801,528 |
Trading purpose | Interest rates related | Over the counter | Option contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 324,238 | 286,000 |
Trading purpose | Interest rates related | Exchange traded | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 70,940,774 | 68,323,990 |
Trading purpose | Interest rates related | Exchange traded | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 68,475,400 | 65,868,540 |
Trading purpose | Interest rates related | Exchange traded | Futures contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 2,465,374 | 2,455,450 |
Trading purpose | Credit related | Over the counter | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 4,536,626 | 5,404,257 |
Trading purpose | Equity related | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 9,053,355 | 10,035,315 |
Trading purpose | Equity related | Over the counter | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 3,137,347 | 5,119,869 |
Trading purpose | Equity related | Over the counter | Option contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 508,686 | 864,038 |
Trading purpose | Equity related | Over the counter | Swap and forward contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 2,628,661 | 4,255,831 |
Trading purpose | Equity related | Exchange traded | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 5,916,008 | 4,915,446 |
Trading purpose | Equity related | Exchange traded | Futures contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 1,638,126 | 876,220 |
Trading purpose | Equity related | Exchange traded | Option contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 4,277,882 | 4,039,226 |
Trading purpose | Commodity related | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 800,811 | 1,102,862 |
Trading purpose | Commodity related | Over the counter | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 537,351 | 758,533 |
Trading purpose | Commodity related | Over the counter | Option contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 0 | 0 |
Trading purpose | Commodity related | Over the counter | Swap and forward contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 537,351 | 758,533 |
Trading purpose | Commodity related | Exchange traded | Futures contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 263,460 | 344,329 |
Hedging purpose | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 13,454,670 | 16,493,264 |
Hedging purpose | Foreign currency related | Forward contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 1,281,945 | 1,869,518 |
Hedging purpose | Foreign currency related | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | 4,328,333 | 4,532,114 |
Hedging purpose | Interest rates related | Swap contract | ||
Notional amounts of derivatives [Line Items] | ||
Notional amounts of derivatives | ₩ 7,844,392 | ₩ 10,091,632 |
Fair values of derivative instr
Fair values of derivative instruments (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair values of derivative instruments [Line Items] | ||
Derivative assets | ₩ 5,633,915 | ₩ 2,829,274 |
Derivative liabilities | 5,016,567 | 2,303,012 |
Trading purpose | Foreign currency related | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 4,314,281 | 1,843,188 |
Derivative liabilities | 4,032,337 | 1,585,635 |
Trading purpose | Foreign currency related | Over the counter | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 4,314,191 | 1,843,188 |
Derivative liabilities | 4,032,151 | 1,585,635 |
Trading purpose | Foreign currency related | Over the counter | Forward contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 3,135,319 | 1,360,384 |
Derivative liabilities | 3,021,258 | 1,056,760 |
Trading purpose | Foreign currency related | Over the counter | Swap contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 1,145,619 | 473,797 |
Derivative liabilities | 979,022 | 519,445 |
Trading purpose | Foreign currency related | Over the counter | Option contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 33,253 | 9,007 |
Derivative liabilities | 31,871 | 9,430 |
Trading purpose | Foreign currency related | Exchange traded | Futures contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 90 | 0 |
Derivative liabilities | 186 | 0 |
Trading purpose | Interest rates related | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 314,451 | 261,552 |
Derivative liabilities | 365,936 | 253,944 |
Trading purpose | Interest rates related | Over the counter | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 313,551 | 260,855 |
Derivative liabilities | 365,514 | 253,349 |
Trading purpose | Interest rates related | Over the counter | Swap contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 311,403 | 260,020 |
Derivative liabilities | 363,297 | 247,723 |
Trading purpose | Interest rates related | Over the counter | Option contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 2,148 | 835 |
Derivative liabilities | 2,217 | 5,626 |
Trading purpose | Interest rates related | Exchange traded | Futures contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 900 | 697 |
Derivative liabilities | 422 | 595 |
Trading purpose | Credit related | Over the counter | Swap contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 273,578 | 283,015 |
Derivative liabilities | 29,682 | 38,598 |
Trading purpose | Equity related | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 237,573 | 181,475 |
Derivative liabilities | 219,230 | 84,982 |
Trading purpose | Equity related | Over the counter | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 124,784 | 148,802 |
Derivative liabilities | 58,058 | 48,824 |
Trading purpose | Equity related | Over the counter | Option contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 2,750 | 4,526 |
Derivative liabilities | 9,840 | 9,402 |
Trading purpose | Equity related | Over the counter | Swap and forward contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 122,034 | 144,276 |
Derivative liabilities | 48,218 | 39,422 |
Trading purpose | Equity related | Exchange traded | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 112,789 | 32,673 |
Derivative liabilities | 161,172 | 36,158 |
Trading purpose | Equity related | Exchange traded | Futures contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 34,816 | 4,318 |
Derivative liabilities | 7,711 | 6,417 |
Trading purpose | Equity related | Exchange traded | Option contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 77,973 | 28,355 |
Derivative liabilities | 153,461 | 29,741 |
Trading purpose | Commodity related | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 17,529 | 16,838 |
Derivative liabilities | 32,879 | 37,845 |
Trading purpose | Commodity related | Over the counter | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 5,949 | 14,496 |
Derivative liabilities | 32,693 | 27,745 |
Trading purpose | Commodity related | Over the counter | Option contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Trading purpose | Commodity related | Over the counter | Swap and forward contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 5,949 | 14,496 |
Derivative liabilities | 32,693 | 27,745 |
Trading purpose | Commodity related | Exchange traded | Futures contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 11,580 | 2,342 |
Derivative liabilities | 186 | 10,100 |
Hedging purpose | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 476,503 | 243,206 |
Derivative liabilities | 336,503 | 302,008 |
Hedging purpose | Foreign currency related | Forward contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 91,747 | 14,380 |
Derivative liabilities | 10,507 | 21,121 |
Hedging purpose | Foreign currency related | Swap contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 65,256 | 74,240 |
Derivative liabilities | 186,150 | 48,396 |
Hedging purpose | Interest rates related | Swap contract | ||
Fair values of derivative instruments [Line Items] | ||
Derivative assets | 319,500 | 154,586 |
Derivative liabilities | ₩ 139,846 | ₩ 232,491 |
Gain or loss on valuation of de
Gain or loss on valuation of derivatives (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | ₩ 366,381 | ₩ 721,658 | ₩ (212,987) |
Trading purpose | Foreign currency related | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 106,101 | 153,569 | 15,002 |
Trading purpose | Foreign currency related | Over the counter | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 106,197 | 153,569 | 14,991 |
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 | (108,854) | 174,340 | 41,188 |
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 | 210,072 | (24,827) | (34,444) |
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 | 4,979 | 4,056 | 8,247 |
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 | (96) | 0 | 11 |
Trading purpose | Interest rates related | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (70,062) | (76,279) | 82,704 |
Trading purpose | Interest rates related | Over the counter | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (74,298) | (77,287) | 85,216 |
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 | (73,926) | (75,349) | 86,675 |
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 | (372) | (1,938) | (1,459) |
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 | 4,236 | 1,008 | (2,512) |
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 | 7,255 | 213,754 | (18,396) |
Trading purpose | Equity related | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 204,532 | 102,375 | (296,135) |
Trading purpose | Equity related | Over the counter | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (18,061) | 45,929 | (267,131) |
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 | (2,082) | (841) | 4,326 |
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 | (15,979) | 46,770 | (271,457) |
Trading purpose | Equity related | Exchange traded | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 222,593 | 56,446 | (29,004) |
Trading purpose | Equity related | Exchange traded | Futures contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 26,305 | (2,275) | 15,159 |
Trading purpose | Equity related | Exchange traded | Option contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 196,288 | 58,721 | (44,163) |
Trading purpose | Commodity related | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (2,145) | (4,539) | (75,054) |
Trading purpose | Commodity related | Over the counter | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | (13,519) | 3,220 | (79,263) |
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 | 0 | 29 | 33 |
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 | (13,519) | 3,191 | (79,296) |
Trading purpose | Commodity related | Exchange traded | Futures contract | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | 11,374 | (7,759) | 4,209 |
Hedging purpose | |||
Gain or loss on valuation of derivatives [Line Items] | |||
Gain or loss on valuation of derivatives | ₩ 120,700 | ₩ 332,778 | ₩ 78,892 |
Gain or loss on fair value hedg
Gain or loss on fair value hedges (Details) - Cash Flow Hedges - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Gain or loss on fair value hedges [Line Items] | |||
Gains (losses) on fair value hedges (hedged items) | ₩ (249,602) | ₩ (357,062) | |
Gains (losses) on fair value hedges (hedging instruments) | 245,079 | 358,335 | |
Hedge ineffectiveness recognized in profit or loss | [1] | (4,523) | 1,273 |
Interest rate risk | |||
Gain or loss on fair value hedges [Line Items] | |||
Gains (losses) on fair value hedges (hedged items) | (228,266) | (370,787) | |
Gains (losses) on fair value hedges (hedging instruments) | 233,008 | 377,121 | |
Hedge ineffectiveness recognized in profit or loss | [1] | 4,742 | 6,334 |
Foreign exchange risk | |||
Gain or loss on fair value hedges [Line Items] | |||
Gains (losses) on fair value hedges (hedged items) | (21,336) | 13,725 | |
Gains (losses) on fair value hedges (hedging instruments) | 12,071 | (18,786) | |
Hedge ineffectiveness recognized in profit or loss | [1] | ₩ (9,265) | ₩ (5,061) |
[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, 2020 | Dec. 31, 2019 | ||
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 | ₩ 24,091 | ₩ (15,643) | |
Hedge ineffectiveness recognized in profit or loss | [1] | (9,016) | (28,036) |
From cash flow hedge reserve to profit or loss Reclassified amount | 26,450 | (49,884) | |
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 | (16,693) | 52,932 | |
Hedge ineffectiveness recognized in profit or loss | [1] | (6,539) | (25,709) |
From cash flow hedge reserve to profit or loss Reclassified amount | 26,405 | (57,870) | |
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 | (3,220) | (11,126) | |
Hedge ineffectiveness recognized in profit or loss | [1] | (343) | 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 | (45) | (7,986) | |
Hedge ineffectiveness recognized in profit or loss | [1] | 0 | 0 |
From cash flow hedge reserve to profit or loss Reclassified amount | 45 | 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 | 44,049 | (49,463) | |
Hedge ineffectiveness recognized in profit or loss | [1] | (2,134) | (2,327) |
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, 2020 | Dec. 31, 2019 |
Interest rate risk | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 7,844,392 | 10,091,632 |
Average hedge ratio | 100.00% | 100.00% |
Average price condition | 0.67% | |
Interest rate risk | Not later than 1 year | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 657,656 | 750,469 |
Average hedge ratio | 100.00% | 100.00% |
Average price condition | 1.12% | |
Interest rate risk | 1~2 years | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 640,992 | 704,985 |
Average hedge ratio | 100.00% | 100.00% |
Average price condition | 0.88% | |
Interest rate risk | 2~3 years | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 1,217,588 | 717,948 |
Average hedge ratio | 100.00% | 100.00% |
Average price condition | 1.30% | |
Interest rate risk | 3~4 years | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 456,688 | 1,228,424 |
Average hedge ratio | 100.00% | 100.00% |
Average price condition | 0.98% | |
Interest rate risk | 4~5 years | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 247,244 | 575,481 |
Average hedge ratio | 100.00% | 100.00% |
Average price condition | 0.67% | |
Interest rate risk | More than 5 years | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 4,624,224 | 6,114,325 |
Average hedge ratio | 100.00% | 100.00% |
Average price condition | 0.38% | |
Exchange risk | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 6,806,529 | 7,584,467 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | Not later than 1 year | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 2,340,409 | 3,651,118 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | 1~2 years | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 1,448,787 | 1,075,886 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | 2~3 years | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 1,734,593 | 1,269,520 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | 3~4 years | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 457,199 | 968,770 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | 4~5 years | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 575,527 | 84,275 |
Average hedge ratio | 100.00% | 100.00% |
Exchange risk | More than 5 years | ||
Nominal amounts and average hedge ratios for hedging instruments [Line Items] | ||
Nominal values | 250,014 | 534,898 |
Average hedge ratio | 100.00% | 100.00% |
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, 2020KRW (₩) | Dec. 31, 2019KRW (₩) | |
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 | 0 |
Carrying value of assets | ₩ 0 | ₩ 0 |
Carrying value of liabilities | 67 | 248 |
Changes in fair value in the period | ₩ 985 | ₩ (1,813) |
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 | 6,965,492 | 9,371,632 |
Carrying value of assets | ₩ 319,294 | ₩ 154,586 |
Carrying value of liabilities | 120,728 | 210,079 |
Changes in fair value in the period | ₩ 181,151 | ₩ 314,766 |
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 | 254,023 | 261,486 |
Carrying value of assets | ₩ 20,093 | ₩ 776 |
Carrying value of liabilities | 66 | 1,358 |
Changes in fair value in the period | ₩ 24,481 | ₩ (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 | 4,328,333 | 4,532,114 |
Carrying value of assets | ₩ 65,256 | ₩ 74,240 |
Carrying value of liabilities | 186,083 | 48,148 |
Changes in fair value in the period | ₩ (8,560) | ₩ (29,829) |
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 | 878,900 | 720,000 |
Carrying value of assets | ₩ 206 | ₩ 0 |
Carrying value of liabilities | 19,118 | 22,412 |
Changes in fair value in the period | ₩ 3,303 | ₩ (11,126) |
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 | 810,322 | 1,376,472 |
Carrying value of assets | ₩ 60,473 | ₩ 11,854 |
Carrying value of liabilities | 0 | 19,763 |
Changes in fair value in the period | ₩ (4,181) | ₩ (4,426) |
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 | 217,600 | 231,560 |
Carrying value of assets | ₩ 11,181 | ₩ 1,750 |
Carrying value of liabilities | 10,441 | 0 |
Changes in fair value in the period | ₩ (2,991) | ₩ (4,036) |
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 | 1,196,252 | 1,182,835 |
Carrying value of assets | ₩ 0 | ₩ 0 |
Carrying value of liabilities | 1,193,269 | 1,177,897 |
Changes in fair value in the period | ₩ 44,907 | ₩ (47,755) |
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, 2020 | Dec. 31, 2019 | |
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 | ₩ 143,496 | ₩ 432,172 |
Carrying value of liabilities | 6,750,929 | 8,859,022 |
Assets of Cumulative fair value hedge adjustment | 6,563 | 4,846 |
Liabilities of Cumulative fair value hedge adjustment | 193,452 | (56,292) |
Changes if fair value in the period | (175,369) | (308,463) |
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 | 342,205 | 306,638 |
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 | (26,927) | 1,671 |
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 | 617,463 | 645,723 |
Carrying value of liabilities | 1,674,460 | 1,740,000 |
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 | 2,296 | (11,126) |
Cash flow hedge reserve | 60,659 | 80,674 |
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 | 3,264,740 | 4,116,068 |
Carrying value of liabilities | 2,962,041 | 3,035,423 |
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 | (58,557) | 115,867 |
Cash flow hedge reserve | (32,001) | (11,188) |
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 | 44,049 | (49,463) |
Cash flow hedge reserve | 0 | 0 |
Foreign currency conversion reserves | ₩ (141,151) | ₩ (88,953) |
Hedge relationships affected by
Hedge relationships affected by an interest rate index (Details) ₩ in Millions | Dec. 31, 2020KRW (₩) | |
KRW 3M CD | ||
Hedge relationships affected by an interest rate index [Line Items] | ||
Carrying amount of hedged item, Assets | ₩ 0 | |
Carrying amount of hedged item, Liabilities | ₩ 3,329,530 | |
Nominal amount of hedging instrument | 3,440,000 | [1] |
USD 1M LIBOR | ||
Hedge relationships affected by an interest rate index [Line Items] | ||
Carrying amount of hedged item, Assets | ₩ 0 | |
Carrying amount of hedged item, Liabilities | ₩ 1,537,051 | |
Nominal amount of hedging instrument | 1,540,608 | [1] |
USD 3M LIBOR | ||
Hedge relationships affected by an interest rate index [Line Items] | ||
Carrying amount of hedged item, Assets | ₩ 357,072 | |
Carrying amount of hedged item, Liabilities | ₩ 3,438,080 | |
Nominal amount of hedging instrument | 3,790,651 | [1] |
EUR 1M LIBOR | ||
Hedge relationships affected by an interest rate index [Line Items] | ||
Carrying amount of hedged item, Assets | ₩ 0 | |
Carrying amount of hedged item, Liabilities | ₩ 264,074 | |
Nominal amount of hedging instrument | 264,450 | [1] |
EUR 3M LIBOR | ||
Hedge relationships affected by an interest rate index [Line Items] | ||
Carrying amount of hedged item, Assets | ₩ 0 | |
Carrying amount of hedged item, Liabilities | ₩ 267,648 | |
Nominal amount of hedging instrument | 267,648 | [1] |
[1] | Include the nominal amount that will mature after the end of 2021. |
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, 2020 | Dec. 31, 2019 |
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | ₩ 58,316,112 | ₩ 59,381,053 |
Securities at amortized cost | 47,282,623 | 45,582,065 |
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 | 57,409,433 | 58,573,094 |
Securities at amortized cost | 47,282,623 | 45,582,065 |
Government | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | 19,370,393 | 17,597,910 |
Securities at amortized cost | 31,816,320 | 30,385,084 |
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 | 20,053,716 | 21,527,242 |
Securities at amortized cost | 3,835,577 | 4,770,204 |
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 | 17,985,324 | 19,447,942 |
Securities at amortized cost | 11,630,726 | 10,426,777 |
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 | 906,679 | 807,959 |
Stocks | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | 777,901 | 728,311 |
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 | 4,445 | 5,356 |
Others | ||
Securities at fair value through other comprehensive income and securities at amortized cost [Line Items] | ||
Securities at fair value through other comprehensive income | ₩ 124,333 | ₩ 74,292 |
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, 2020 | Dec. 31, 2019 | |
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 | ₩ 58,573,094 | ₩ 37,677,645 |
Transfer to 12 months expected credit loss | 0 | 0 |
Transfer to other type of measurement, carrying value | 0 | 0 |
Purchase | 52,657,353 | 46,908,632 |
Disposal | (34,990,991) | (16,119,228) |
Repayment | (17,611,000) | (21,129,182) |
Others | (1,219,023) | 282,435 |
Business combination | 0 | 10,952,792 |
Ending balance | 57,409,433 | 58,573,094 |
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 | 58,334,000 | 37,571,814 |
Transfer to 12 months expected credit loss | 30,233 | 34,555 |
Transfer to other type of measurement, carrying value | (83,132) | (64,928) |
Purchase | 52,637,678 | 46,847,222 |
Disposal | (34,969,744) | (16,109,006) |
Repayment | (17,610,988) | (21,129,182) |
Others | (1,195,749) | 230,733 |
Business combination | 0 | 10,952,792 |
Ending balance | 57,142,298 | 58,334,000 |
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 | 239,094 | 105,831 |
Transfer to 12 months expected credit loss | (30,233) | (34,555) |
Transfer to other type of measurement, carrying value | 83,132 | 64,928 |
Purchase | 19,675 | 61,410 |
Disposal | (21,247) | (10,222) |
Repayment | (12) | 0 |
Others | (23,274) | 51,702 |
Business combination | 0 | 0 |
Ending balance | 267,135 | 239,094 |
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 | 45,591,835 | 28,487,396 |
Transfer to 12 months expected credit loss | 0 | 0 |
Transfer to other type of measurement, carrying value | 0 | 0 |
Purchase | 7,645,000 | 12,209,898 |
Disposal | 0 | 0 |
Repayment | (5,923,583) | (6,722,560) |
Others | (20,143) | 343,102 |
Business combination | 0 | 11,273,999 |
Ending balance | 47,293,109 | 45,591,835 |
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 | 45,568,563 | 28,464,921 |
Transfer to 12 months expected credit loss | 0 | 20,198 |
Transfer to other type of measurement, carrying value | 0 | 0 |
Purchase | 7,645,000 | 12,209,898 |
Disposal | 0 | 0 |
Repayment | (5,900,311) | (6,722,560) |
Others | (20,143) | 322,107 |
Business combination | 0 | 11,273,999 |
Ending balance | 47,293,109 | 45,568,563 |
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 | 23,272 | 22,475 |
Transfer to 12 months expected credit loss | 0 | (20,198) |
Transfer to other type of measurement, carrying value | 0 | 0 |
Purchase | 0 | 0 |
Disposal | 0 | 0 |
Repayment | (23,272) | 0 |
Others | 0 | 20,995 |
Business combination | 0 | 0 |
Ending balance | ₩ 0 | ₩ 23,272 |
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, 2020 | Dec. 31, 2019 | |
Financial assets at fair value through other comprehensive income | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | ₩ 28,236 | ₩ 26,084 |
Transfer to 12 months expected credit loss | 0 | 0 |
Transfer to other type of measurement, allowance | 0 | 0 |
Provision (reversal) | 3,829 | 5,787 |
Disposal | (9,506) | (5,598) |
Others | 612 | 1,963 |
Ending balance | 23,171 | 28,236 |
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 | 27,581 | 25,722 |
Transfer to 12 months expected credit loss | 22 | 33 |
Transfer to other type of measurement, allowance | (193) | (60) |
Provision (reversal) | 3,480 | 8,403 |
Disposal | (9,019) | (5,340) |
Others | 622 | (1,177) |
Ending balance | 22,493 | 27,581 |
Financial assets at fair value through other comprehensive income | Lifetime expected credit losses | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | 655 | 362 |
Transfer to 12 months expected credit loss | (22) | (33) |
Transfer to other type of measurement, allowance | 193 | 60 |
Provision (reversal) | 349 | (2,616) |
Disposal | (487) | (258) |
Others | (10) | 3,140 |
Ending balance | 678 | 655 |
Securities at amortized cost | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | 9,770 | 9,260 |
Transfer to 12 months expected credit loss | 0 | 0 |
Transfer to other type of measurement, allowance | 0 | 0 |
Provision (reversal) | 1,075 | 543 |
Disposal | 0 | 0 |
Others | (359) | (33) |
Ending balance | 10,486 | 9,770 |
Securities at amortized cost | 12-month expected credit losses | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | 9,759 | 9,243 |
Transfer to 12 months expected credit loss | 0 | 4,301 |
Transfer to other type of measurement, allowance | 0 | 0 |
Provision (reversal) | 1,086 | (3,752) |
Disposal | 0 | 0 |
Others | (359) | (33) |
Ending balance | 10,486 | 9,759 |
Securities at amortized cost | Lifetime expected credit losses | ||
Changes in the allowance for credit losses [Line Items] | ||
Beginning balance | 11 | 17 |
Transfer to 12 months expected credit loss | 0 | (4,301) |
Transfer to other type of measurement, allowance | 0 | 0 |
Provision (reversal) | (11) | 4,295 |
Disposal | 0 | 0 |
Others | 0 | 0 |
Ending balance | ₩ 0 | ₩ 11 |
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, 2020 | Dec. 31, 2019 | ||
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 | ₩ 301,920 | ₩ 159,883 | |
Loss on disposal of financial assets at fair value through other comprehensive income | (28,127) | (7,605) | |
Gain on disposal of securities at amortized cost | [1] | 42 | 86 |
Loss on disposal of securities at amortized cost | [1] | (67) | (20) |
Total | ₩ 273,768 | ₩ 152,344 | |
[1] | The issuers of those securities have exercised the early redemption options and the others. |
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, 2020 | Dec. 31, 2019 | |
Income or loss on equity securities at fair value through other comprehensive income [Abstract] | ||
Fair value at the date of disposal | ₩ 69,969 | ₩ 45,074 |
Cumulative net profit at the time of disposal | ₩ (38,380) | ₩ (10,843) |
Loans at amortized cost (Detail
Loans at amortized cost (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Loans at amortized cost [Abstract] | |||
Household loans | ₩ 146,789,916 | ₩ 134,423,473 | |
Corporate loans | 179,011,251 | 161,029,877 | |
Public and other loans | 3,734,629 | 3,311,735 | |
Loans to banks | 5,492,400 | 2,633,532 | |
Card receivables | 23,759,422 | 24,024,491 | |
Loans at amortized cost, Gross, Total | 358,787,618 | 325,423,108 | |
Discount | (21,948) | (27,824) | |
Deferred loan origination costs and fees | 516,815 | 534,530 | ₩ 497,368 |
Loans at amortized cost before Allowance for credit losses, Total | 359,282,485 | 325,929,814 | |
Allowance for credit losses | (3,060,966) | (2,684,835) | |
Loans at amortized cost, Net, Total | ₩ 356,221,519 | ₩ 323,244,979 |
Changes in loans at amortized c
Changes in loans at amortized cost and other assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Loans at amortized cost net category | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | ₩ 325,929,814 | ₩ 302,334,540 | |
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 | |
Net increase and decrease | [1] | 35,900,369 | 22,073,098 |
Charge off | (1,146,776) | (858,722) | |
Disposal | (1,400,922) | (537,150) | |
Business combination (Note 47) | 0 | 2,918,048 | |
Ending balance | 359,282,485 | 325,929,814 | |
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 | 126,586,551 | 114,279,870 | |
Transfer (from) to 12 month expected credit losses | 2,891,847 | 2,619,036 | |
Transfer (from) to lifetime expected credit losses | (3,916,612) | (5,385,659) | |
Transfer (from) to credit- impaired financial assets | (189,681) | (627,950) | |
Net increase and decrease | [1] | 13,457,675 | 13,234,263 |
Charge off | 0 | 0 | |
Disposal | (313,150) | 0 | |
Business combination (Note 47) | 0 | 2,466,991 | |
Ending balance | 138,516,630 | 126,586,551 | |
Loans at amortized cost net category | Retail | Lifetime expected credit losses | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | 7,870,908 | 6,820,058 | |
Transfer (from) to 12 month expected credit losses | (2,885,809) | (2,614,416) | |
Transfer (from) to lifetime expected credit losses | 3,944,714 | 5,406,091 | |
Transfer (from) to credit- impaired financial assets | (157,637) | (43,168) | |
Net increase and decrease | [1] | (556,142) | (1,700,287) |
Charge off | 0 | 0 | |
Disposal | (897) | (5,122) | |
Business combination (Note 47) | 0 | 7,752 | |
Ending balance | 8,215,137 | 7,870,908 | |
Loans at amortized cost net category | Retail | Financial instruments credit-impaired | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | 415,892 | 348,722 | |
Transfer (from) to 12 month expected credit losses | (6,038) | (4,620) | |
Transfer (from) to lifetime expected credit losses | (28,102) | (20,432) | |
Transfer (from) to credit- impaired financial assets | 347,318 | 671,118 | |
Net increase and decrease | [1] | 81,131 | (222,961) |
Charge off | (254,723) | (257,742) | |
Disposal | (89,051) | (108,624) | |
Business combination (Note 47) | 0 | 10,431 | |
Ending balance | 466,427 | 415,892 | |
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 | 135,591,673 | 129,468,766 | |
Transfer (from) to 12 month expected credit losses | 6,009,242 | 4,093,725 | |
Transfer (from) to lifetime expected credit losses | (9,015,428) | (16,484,206) | |
Transfer (from) to credit- impaired financial assets | (195,863) | (1,088,270) | |
Net increase and decrease | [1] | 20,679,401 | 19,326,283 |
Charge off | 0 | 0 | |
Disposal | (731,001) | (117,453) | |
Business combination (Note 47) | 0 | 392,828 | |
Ending balance | 152,338,024 | 135,591,673 | |
Loans at amortized cost net category | Corporations | Lifetime expected credit losses | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | 24,661,662 | 21,782,590 | |
Transfer (from) to 12 month expected credit losses | (6,006,226) | (4,088,373) | |
Transfer (from) to lifetime expected credit losses | 9,027,416 | 16,597,346 | |
Transfer (from) to credit- impaired financial assets | (441,969) | (76,177) | |
Net increase and decrease | [1] | (1,030,466) | (9,567,098) |
Charge off | 0 | 0 | |
Disposal | 0 | (3,806) | |
Business combination (Note 47) | 0 | 17,180 | |
Ending balance | 26,210,417 | 24,661,662 | |
Loans at amortized cost net category | Corporations | Financial instruments credit-impaired | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | 1,001,587 | 919,381 | |
Transfer (from) to 12 month expected credit losses | (3,016) | (5,352) | |
Transfer (from) to lifetime expected credit losses | (11,988) | (113,140) | |
Transfer (from) to credit- impaired financial assets | 637,832 | 1,164,447 | |
Net increase and decrease | [1] | 15,944 | (443,468) |
Charge off | (317,514) | (259,400) | |
Disposal | (264,913) | (283,747) | |
Business combination (Note 47) | 0 | 22,866 | |
Ending balance | 1,057,932 | 1,001,587 | |
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 | 19,419,606 | 18,155,156 | |
Transfer (from) to 12 month expected credit losses | 351,253 | 320,288 | |
Transfer (from) to lifetime expected credit losses | (571,971) | (603,069) | |
Transfer (from) to credit- impaired financial assets | (114,388) | (36,483) | |
Net increase and decrease | [1] | (115,242) | 1,583,714 |
Charge off | 0 | 0 | |
Disposal | 0 | 0 | |
Business combination (Note 47) | 0 | 0 | |
Ending balance | 18,969,258 | 19,419,606 | |
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 | 4,124,576 | 3,830,509 | |
Transfer (from) to 12 month expected credit losses | (350,651) | (320,129) | |
Transfer (from) to lifetime expected credit losses | 572,291 | 603,280 | |
Transfer (from) to credit- impaired financial assets | (191,777) | (22,473) | |
Net increase and decrease | [1] | (202,750) | 33,389 |
Charge off | 0 | 0 | |
Disposal | 0 | 0 | |
Business combination (Note 47) | 0 | 0 | |
Ending balance | 3,951,689 | 4,124,576 | |
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 | 444,235 | 413,175 | |
Transfer (from) to 12 month expected credit losses | (602) | (159) | |
Transfer (from) to lifetime expected credit losses | (320) | (211) | |
Transfer (from) to credit- impaired financial assets | 306,165 | 58,956 | |
Net increase and decrease | [1] | 290,907 | 305,336 |
Charge off | (572,008) | (332,862) | |
Disposal | 0 | 0 | |
Business combination (Note 47) | 0 | 0 | |
Ending balance | 468,377 | 444,235 | |
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 | 5,167,393 | 5,695,187 | |
Transfer (from) to 12 month expected credit losses | 15,976 | 37,430 | |
Transfer (from) to lifetime expected credit losses | (85,337) | (210,161) | |
Transfer (from) to credit- impaired financial assets | (3,964) | (39,844) | |
Net increase and decrease | [1] | 3,311,105 | (315,219) |
Charge off | 0 | 0 | |
Disposal | 0 | 0 | |
Business combination (Note 47) | 0 | 0 | |
Ending balance | 8,405,173 | 5,167,393 | |
Loans at amortized cost net category | Others | Lifetime expected credit losses | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | 629,468 | 605,440 | |
Transfer (from) to 12 month expected credit losses | (15,976) | (37,430) | |
Transfer (from) to lifetime expected credit losses | 85,337 | 210,333 | |
Transfer (from) to credit- impaired financial assets | (37) | 0 | |
Net increase and decrease | [1] | (33,596) | (148,875) |
Charge off | 0 | 0 | |
Disposal | 0 | 0 | |
Business combination (Note 47) | 0 | 0 | |
Ending balance | 665,196 | 629,468 | |
Loans at amortized cost net category | Others | Financial instruments credit-impaired | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | 16,263 | 15,686 | |
Transfer (from) to 12 month expected credit losses | 0 | 0 | |
Transfer (from) to lifetime expected credit losses | 0 | (172) | |
Transfer (from) to credit- impaired financial assets | 4,001 | 39,844 | |
Net increase and decrease | [1] | 2,402 | (11,979) |
Charge off | (2,531) | (8,718) | |
Disposal | (1,910) | (18,398) | |
Business combination (Note 47) | 0 | 0 | |
Ending balance | 18,225 | 16,263 | |
Others | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | 43,397,484 | 31,640,158 | |
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 | |
Net increase and decrease | [1] | 8,653,613 | 10,541,520 |
Charge off | (26,814) | (29,456) | |
Disposal | (910) | (183,277) | |
Business combination (Note 47) | 15,982 | 1,428,539 | |
Ending balance | 52,039,355 | 43,397,484 | |
Others | 12-month expected credit losses | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | 43,245,002 | 31,508,694 | |
Transfer (from) to 12 month expected credit losses | 15,157 | 12,685 | |
Transfer (from) to lifetime expected credit losses | (25,839) | (253,546) | |
Transfer (from) to credit- impaired financial assets | (1,628) | (3,124) | |
Net increase and decrease | [1] | 8,633,124 | 10,746,289 |
Charge off | 0 | 0 | |
Disposal | 0 | (182,212) | |
Business combination (Note 47) | 15,982 | 1,416,216 | |
Ending balance | 51,881,798 | 43,245,002 | |
Others | Lifetime expected credit losses | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | 106,517 | 99,461 | |
Transfer (from) to 12 month expected credit losses | (15,123) | (12,675) | |
Transfer (from) to lifetime expected credit losses | 25,848 | 253,575 | |
Transfer (from) to credit- impaired financial assets | (7,342) | (5,324) | |
Net increase and decrease | [1] | (10,001) | (230,014) |
Charge off | 0 | 0 | |
Disposal | 0 | (3) | |
Business combination (Note 47) | 0 | 1,497 | |
Ending balance | 99,899 | 106,517 | |
Others | Financial instruments credit-impaired | |||
Changes in loans at amortized cost and other assets [Line Items] | |||
Beginning balance | 45,965 | 32,003 | |
Transfer (from) to 12 month expected credit losses | (34) | (10) | |
Transfer (from) to lifetime expected credit losses | (9) | (29) | |
Transfer (from) to credit- impaired financial assets | 8,970 | 8,448 | |
Net increase and decrease | [1] | 30,490 | 25,245 |
Charge off | (26,814) | (29,456) | |
Disposal | (910) | (1,062) | |
Business combination (Note 47) | 0 | 10,826 | |
Ending balance | ₩ 57,658 | ₩ 45,965 | |
[1] | The amount is due to execution, collection, debt restructuring, investment conversion, exchange rate fluctuation, etc. |
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, 2020 | Dec. 31, 2019 | |
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 | ₩ 2,684,835 | ₩ 2,725,068 |
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) | 1,290,695 | 910,898 |
Charge off | (1,146,776) | (858,722) |
Amortization of discount | (28,588) | (25,211) |
Disposal | (44,337) | (53,309) |
Collection | 350,009 | 325,906 |
Others | (44,872) | (383,597) |
Business combination (Note 47) | 0 | 43,802 |
Ending balance | 3,060,966 | 2,684,835 |
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 | 133,412 | 115,295 |
Transfer (from) to 12 month expected credit losses | 20,082 | 18,079 |
Transfer (from) to lifetime expected credit losses | (9,077) | (9,411) |
Transfer (from) to credit- impaired financial assets | (3,247) | (942) |
Provided (reversed) | 5,253 | (7,751) |
Charge off | 0 | 0 |
Amortization of discount | 0 | 0 |
Disposal | (343) | 0 |
Collection | 0 | 0 |
Others | 2,954 | 2,484 |
Business combination (Note 47) | 0 | 15,658 |
Ending balance | 149,034 | 133,412 |
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 | 91,025 | 88,360 |
Transfer (from) to 12 month expected credit losses | (19,487) | (17,592) |
Transfer (from) to lifetime expected credit losses | 18,772 | 17,342 |
Transfer (from) to credit- impaired financial assets | (9,010) | (3,739) |
Provided (reversed) | (5,319) | 19,130 |
Charge off | 0 | 0 |
Amortization of discount | 0 | 0 |
Disposal | (8) | (241) |
Collection | 0 | 0 |
Others | 10,075 | (15,353) |
Business combination (Note 47) | 0 | 3,118 |
Ending balance | 86,048 | 91,025 |
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 | 169,038 | 156,459 |
Transfer (from) to 12 month expected credit losses | (595) | (487) |
Transfer (from) to lifetime expected credit losses | (9,695) | (7,931) |
Transfer (from) to credit- impaired financial assets | 12,257 | 4,681 |
Provided (reversed) | 199,765 | 214,260 |
Charge off | (254,723) | (257,742) |
Amortization of discount | (5,630) | (274) |
Disposal | (18,605) | (21,561) |
Collection | 85,819 | 70,319 |
Others | 20,809 | 4,522 |
Business combination (Note 47) | 0 | 6,792 |
Ending balance | 198,440 | 169,038 |
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 | 419,752 | 434,793 |
Transfer (from) to 12 month expected credit losses | 67,590 | 50,720 |
Transfer (from) to lifetime expected credit losses | (49,727) | (35,790) |
Transfer (from) to credit- impaired financial assets | (1,590) | (565) |
Provided (reversed) | 149,400 | (43,230) |
Charge off | 0 | 0 |
Amortization of discount | 0 | 0 |
Disposal | (726) | (6) |
Collection | 0 | 0 |
Others | (16,085) | 13,810 |
Business combination (Note 47) | 0 | 20 |
Ending balance | 568,614 | 419,752 |
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 | 531,286 | 581,915 |
Transfer (from) to 12 month expected credit losses | (66,777) | (48,295) |
Transfer (from) to lifetime expected credit losses | 55,512 | 118,605 |
Transfer (from) to credit- impaired financial assets | (52,383) | (13,332) |
Provided (reversed) | 211,341 | (31,265) |
Charge off | 0 | 0 |
Amortization of discount | 0 | 0 |
Disposal | 0 | (245) |
Collection | 0 | 0 |
Others | (13,896) | (76,711) |
Business combination (Note 47) | 0 | 614 |
Ending balance | 665,083 | 531,286 |
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 | 469,207 | 519,683 |
Transfer (from) to 12 month expected credit losses | (813) | (2,425) |
Transfer (from) to lifetime expected credit losses | (5,785) | (82,815) |
Transfer (from) to credit- impaired financial assets | 53,973 | 13,897 |
Provided (reversed) | 265,557 | 277,436 |
Charge off | (317,514) | (259,400) |
Amortization of discount | (15,151) | (19,396) |
Disposal | (24,473) | (30,436) |
Collection | 63,822 | 62,973 |
Others | (7,579) | (27,910) |
Business combination (Note 47) | 0 | 17,600 |
Ending balance | 481,244 | 469,207 |
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 | 173,884 | 170,242 |
Transfer (from) to 12 month expected credit losses | 22,148 | 55,815 |
Transfer (from) to lifetime expected credit losses | (11,568) | (20,607) |
Transfer (from) to credit- impaired financial assets | (901) | (1,250) |
Provided (reversed) | 103,793 | 57,062 |
Charge off | 0 | 0 |
Amortization of discount | 0 | 0 |
Disposal | 0 | 0 |
Collection | 0 | 0 |
Others | (83,448) | (87,378) |
Business combination (Note 47) | 0 | 0 |
Ending balance | 203,908 | 173,884 |
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 | 365,248 | 351,765 |
Transfer (from) to 12 month expected credit losses | (21,591) | (55,712) |
Transfer (from) to lifetime expected credit losses | 11,834 | 20,756 |
Transfer (from) to credit- impaired financial assets | (2,041) | (3,916) |
Provided (reversed) | 210,592 | 280,047 |
Charge off | 0 | 0 |
Amortization of discount | 0 | 0 |
Disposal | 0 | 0 |
Collection | 0 | 0 |
Others | (189,589) | (227,692) |
Business combination (Note 47) | 0 | 0 |
Ending balance | 374,453 | 365,248 |
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 | 314,850 | 280,098 |
Transfer (from) to 12 month expected credit losses | (557) | (103) |
Transfer (from) to lifetime expected credit losses | (266) | (149) |
Transfer (from) to credit- impaired financial assets | 2,942 | 5,166 |
Provided (reversed) | 137,254 | 147,332 |
Charge off | (572,008) | (332,862) |
Amortization of discount | (7,807) | (5,541) |
Disposal | 0 | 0 |
Collection | 200,234 | 190,738 |
Others | 232,048 | 30,171 |
Business combination (Note 47) | 0 | 0 |
Ending balance | 306,690 | 314,850 |
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 | 7,501 | 10,670 |
Transfer (from) to 12 month expected credit losses | 164 | 757 |
Transfer (from) to lifetime expected credit losses | (242) | (159) |
Transfer (from) to credit- impaired financial assets | (13) | 0 |
Provided (reversed) | 4,188 | (4,067) |
Charge off | 0 | 0 |
Amortization of discount | 0 | 0 |
Disposal | 0 | 0 |
Collection | 0 | 0 |
Others | (164) | 300 |
Business combination (Note 47) | 0 | 0 |
Ending balance | 11,434 | 7,501 |
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 | 7,481 | 5,882 |
Transfer (from) to 12 month expected credit losses | (164) | (757) |
Transfer (from) to lifetime expected credit losses | 242 | 289 |
Transfer (from) to credit- impaired financial assets | (9) | 0 |
Provided (reversed) | 2,048 | 1,907 |
Charge off | 0 | 0 |
Amortization of discount | 0 | 0 |
Disposal | 0 | 0 |
Collection | 0 | 0 |
Others | 3 | 160 |
Business combination (Note 47) | 0 | 0 |
Ending balance | 9,601 | 7,481 |
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 | 2,151 | 9,906 |
Transfer (from) to 12 month expected credit losses | 0 | 0 |
Transfer (from) to lifetime expected credit losses | 0 | (130) |
Transfer (from) to credit- impaired financial assets | 22 | 0 |
Provided (reversed) | 6,823 | 37 |
Charge off | (2,531) | (8,718) |
Amortization of discount | 0 | 0 |
Disposal | (182) | (820) |
Collection | 134 | 1,876 |
Others | 0 | 0 |
Business combination (Note 47) | 0 | 0 |
Ending balance | 6,417 | 2,151 |
Others | ||
Changes in the allowance for credit losses of Loans at amortized cost and other financial assets [Line Items] | ||
Beginning balance | 78,849 | 71,621 |
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) | 33,785 | 33,945 |
Charge off | (26,814) | (29,456) |
Amortization of discount | 0 | 0 |
Disposal | (34) | 0 |
Collection | 2,166 | 1,873 |
Others | 4,950 | (9,294) |
Business combination (Note 47) | 0 | 10,160 |
Ending balance | 92,902 | 78,849 |
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 | 33,987 | 39,927 |
Transfer (from) to 12 month expected credit losses | 286 | 458 |
Transfer (from) to lifetime expected credit losses | (259) | (231) |
Transfer (from) to credit- impaired financial assets | (256) | (172) |
Provided (reversed) | (2,143) | 2,822 |
Charge off | 0 | 0 |
Amortization of discount | 0 | 0 |
Disposal | (2) | 0 |
Collection | 0 | 0 |
Others | 4,078 | (9,738) |
Business combination (Note 47) | 0 | 921 |
Ending balance | 35,691 | 33,987 |
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 | 7,272 | 6,930 |
Transfer (from) to 12 month expected credit losses | (273) | (453) |
Transfer (from) to lifetime expected credit losses | 264 | 244 |
Transfer (from) to credit- impaired financial assets | (1,492) | (2,310) |
Provided (reversed) | 2,650 | 2,667 |
Charge off | 0 | 0 |
Amortization of discount | 0 | 0 |
Disposal | 0 | 0 |
Collection | 0 | 0 |
Others | (140) | 9 |
Business combination (Note 47) | 0 | 185 |
Ending balance | 8,281 | 7,272 |
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 | 37,590 | 24,764 |
Transfer (from) to 12 month expected credit losses | (13) | (5) |
Transfer (from) to lifetime expected credit losses | (5) | (13) |
Transfer (from) to credit- impaired financial assets | 1,748 | 2,482 |
Provided (reversed) | 33,278 | 28,456 |
Charge off | (26,814) | (29,456) |
Amortization of discount | 0 | 0 |
Disposal | (32) | 0 |
Collection | 2,166 | 1,873 |
Others | 1,012 | 435 |
Business combination (Note 47) | 0 | 9,054 |
Ending balance | ₩ 48,930 | ₩ 37,590 |
Changes in deferred loan origin
Changes in deferred loan origination costs and fees (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Changes in deferred loan origination costs [Abstract] | ||
Beginning balance | ₩ 534,530 | ₩ 497,368 |
Loan origination | 257,034 | 232,943 |
Amortization | (274,749) | (208,998) |
Business combination (Note 47) | 0 | 13,217 |
Ending balance | ₩ 516,815 | ₩ 534,530 |
Property and equipment, net (De
Property and equipment, net (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Property and equipment, net [Line Items] | ||
Land | ₩ 2,219,227 | ₩ 1,815,112 |
Buildings | 810,761 | 790,449 |
Right-of-use assets | 590,417 | 1,112,796 |
Others | 369,292 | 364,971 |
Acquisition cost | ||
Disclosure of Property and equipment, net [Line Items] | ||
Land | 2,219,227 | 1,815,112 |
Buildings | 1,230,187 | 1,167,514 |
Right-of-use assets | 1,016,183 | 1,357,206 |
Others | 2,197,485 | 2,130,805 |
Accumulated depreciation | ||
Disclosure of Property and equipment, net [Line Items] | ||
Land | 0 | 0 |
Buildings | (419,426) | (377,065) |
Right-of-use assets | (425,766) | (244,410) |
Others | ₩ (1,828,193) | ₩ (1,765,834) |
Changes in property and equipme
Changes in property and equipment (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Schedule of Changes in property and equipment [Line Items] | |||
Beginning balance | ₩ 4,083,328 | ₩ 3,577,709 | |
Acquisitions | 581,810 | 1,076,404 | |
Disposals | (166,151) | (43,644) | |
Depreciation | (475,506) | (479,657) | |
Amounts transferred from(to) investment property | 4,064 | (104,573) | |
Amounts transferred from(to) intangible assets | 3,738 | 271 | |
Amounts transferred from(to) assets held for sale | [1] | (31,633) | (455) |
Amounts transferred from(to) right-of-use assets | 0 | 0 | |
Others | (2,235) | 0 | |
Effects of foreign currency movements | (8,553) | 14,031 | |
Business combination (Note 47) | 835 | 43,242 | |
Ending balance | 3,989,697 | 4,083,328 | |
Land | |||
Schedule of Changes in property and equipment [Line Items] | |||
Beginning balance | 1,815,112 | 1,827,711 | |
Acquisitions | 78,066 | 69,045 | |
Disposals | (92,683) | (249) | |
Depreciation | 0 | 0 | |
Amounts transferred from(to) investment property | 55,316 | (81,311) | |
Amounts transferred from(to) intangible assets | 0 | 0 | |
Amounts transferred from(to) assets held for sale | [1] | (31,622) | (410) |
Amounts transferred from(to) right-of-use assets | 395,346 | 0 | |
Others | 0 | 0 | |
Effects of foreign currency movements | (308) | 326 | |
Business combination (Note 47) | 0 | 0 | |
Ending balance | 2,219,227 | 1,815,112 | |
Buildings | |||
Schedule of Changes in property and equipment [Line Items] | |||
Beginning balance | 790,449 | 852,569 | |
Acquisitions | 56,828 | 16,946 | |
Disposals | (46,897) | (1,719) | |
Depreciation | (56,041) | (55,450) | |
Amounts transferred from(to) investment property | (51,252) | (23,262) | |
Amounts transferred from(to) intangible assets | 0 | 0 | |
Amounts transferred from(to) assets held for sale | [1] | (11) | (45) |
Amounts transferred from(to) right-of-use assets | 118,091 | 0 | |
Others | 0 | 0 | |
Effects of foreign currency movements | (406) | 1,410 | |
Business combination (Note 47) | 0 | 0 | |
Ending balance | 810,761 | 790,449 | |
Right-of-use assets | |||
Schedule of Changes in property and equipment [Line Items] | |||
Beginning balance | 1,112,796 | 583,576 | |
Acquisitions | 305,958 | 805,783 | |
Disposals | (24,173) | (12,595) | |
Depreciation | (286,028) | (298,538) | |
Amounts transferred from(to) investment property | 0 | 0 | |
Amounts transferred from(to) intangible assets | 0 | 0 | |
Amounts transferred from(to) assets held for sale | [1] | 0 | 0 |
Amounts transferred from(to) right-of-use assets | (513,437) | 0 | |
Others | 0 | 0 | |
Effects of foreign currency movements | (5,380) | 2,981 | |
Business combination (Note 47) | 681 | 31,589 | |
Ending balance | 590,417 | 1,112,796 | |
Others | |||
Schedule of Changes in property and equipment [Line Items] | |||
Beginning balance | 364,971 | 313,853 | |
Acquisitions | 140,958 | 184,630 | |
Disposals | (2,398) | (29,081) | |
Depreciation | (133,437) | (125,669) | |
Amounts transferred from(to) investment property | 0 | 0 | |
Amounts transferred from(to) intangible assets | 3,738 | 271 | |
Amounts transferred from(to) assets held for sale | [1] | 0 | 0 |
Amounts transferred from(to) right-of-use assets | 0 | 0 | |
Others | (2,235) | 0 | |
Effects of foreign currency movements | (2,459) | 9,314 | |
Business combination (Note 47) | 154 | 11,653 | |
Ending balance | ₩ 369,292 | ₩ 364,971 | |
[1] | Included buildings, and land. |
Insured assets (Details)
Insured assets (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2020KRW (₩) | |
Cash (including ATM) | |
Insured assets [Line Items] | |
Amount covered | ₩ 25,200 |
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 | ₩ 1,510,644 |
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 | ₩ 24,235 |
Type of insurance | Fire insurance |
Insurance company | Meritz Fire & Marine Insurance Co., Ltd., etc. |
Officer liability of executives | |
Insured assets [Line Items] | |
Amount covered | ₩ 110,000 |
Type of insurance | Compensation liability insurance for officers |
Insurance company | Meritz Fire & Marine Insurance Co., Ltd., etc. |
Employees | |
Insured assets [Line Items] | |
Amount covered | ₩ 71,287 |
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 | ₩ 80,165 |
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 | ₩ 32,549 |
Type of insurance | Others |
Insurance company | Samsung Fire & Marine Insurance Co., Ltd., etc. |
Intangible assets, net (Details
Intangible assets, net (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Intangible assets, net [Abstract] | |||
Goodwill | ₩ 4,689,792 | ₩ 4,690,049 | ₩ 3,903,518 |
Software | 144,535 | 129,235 | |
Development cost | 183,592 | 144,100 | |
Other | 462,700 | 595,330 | |
Intangible assets, net | ₩ 5,480,619 | ₩ 5,558,714 | ₩ 4,320,134 |
Changes in intangible assets (D
Changes in intangible assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Changes in intangible assets [Line Items] | |||
Beginning balance | ₩ 5,558,714 | ₩ 4,320,134 | |
Acquisitions | 233,375 | 803,617 | |
Disposals | (26,861) | (18,214) | |
Amounts transferred from(to) property and equipment | (3,738) | (271) | |
Impairment | [1],[2],[3],[4] | (41,310) | (151,643) |
Amortization | [5] | (252,605) | (267,943) |
Effects of foreign currency movements | (1,396) | 1,749 | |
Business combination | 14,440 | 871,285 | |
Ending balance | 5,480,619 | 5,558,714 | |
Goodwill | |||
Changes in intangible assets [Line Items] | |||
Beginning balance | 4,690,049 | 3,903,518 | |
Acquisitions | 0 | 0 | |
Disposals | 0 | 0 | |
Amounts transferred from(to) property and equipment | 0 | 0 | |
Impairment | [1],[2],[3],[4] | (14,235) | 0 |
Amortization | [5] | 0 | 0 |
Effects of foreign currency movements | 0 | 0 | |
Business combination | 13,978 | 786,531 | |
Ending balance | 4,689,792 | 4,690,049 | |
Software | |||
Changes in intangible assets [Line Items] | |||
Beginning balance | 129,235 | 102,393 | |
Acquisitions | 64,195 | 56,834 | |
Disposals | (1) | (428) | |
Amounts transferred from(to) property and equipment | 1,415 | 697 | |
Impairment | [1],[2],[3],[4] | 0 | 0 |
Amortization | [5] | (49,159) | (40,578) |
Effects of foreign currency movements | (1,150) | 848 | |
Business combination | 0 | 9,469 | |
Ending balance | 144,535 | 129,235 | |
Development cost | |||
Changes in intangible assets [Line Items] | |||
Beginning balance | 144,100 | 82,536 | |
Acquisitions | 105,101 | 71,713 | |
Disposals | (75) | (1,310) | |
Amounts transferred from(to) property and equipment | (7,820) | (968) | |
Impairment | [1],[2],[3],[4] | 0 | (474) |
Amortization | [5] | (57,690) | (37,832) |
Effects of foreign currency movements | (24) | 0 | |
Business combination | 0 | 30,435 | |
Ending balance | 183,592 | 144,100 | |
Other | |||
Changes in intangible assets [Line Items] | |||
Beginning balance | 595,330 | 231,687 | |
Acquisitions | 64,079 | 675,070 | |
Disposals | (26,785) | (16,476) | |
Amounts transferred from(to) property and equipment | 2,667 | 0 | |
Impairment | [1],[2],[3],[4] | (27,075) | (151,169) |
Amortization | [5] | (145,756) | (189,533) |
Effects of foreign currency movements | (222) | 901 | |
Business combination | 462 | 44,850 | |
Ending balance | ₩ 462,700 | ₩ 595,330 | |
[1] | Memberships were impaired. 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 as of December 31, 2019, 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 is included in the non-operating expenses in the consolidated statement of comprehensive income. | ||
[3] | 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, 2020, the impairment loss amounted to W27,133 million. The impairment loss is included in the non-operating expenses in the consolidated statement of comprehensive income. | ||
[4] | The number of customer contacts decreased due to the decrease in the base interest rate in Indonesia in 2020 and the impact of COVID-19. Therefore, reclaimable amount decreased due to reduced loan and increased provisioning by corporate borrowers. PT Bank Shinhan Indonesia's CGUs can recover W 409,968 million. The carrying amount exceeding the recoverable amount of PT Bank Shinhan Indonesia's CGUs is W 14,379 million. The Group recognized as impairment losses of W 14,235 million based on the 99% stake the Group owns. | ||
[5] | 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, 2020 | Dec. 31, 2019 |
Goodwill | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | ₩ 4,689,792 | ₩ 4,690,049 |
Banking | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | 795,823 | 810,058 |
Credit card | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | 2,880,383 | 2,880,383 |
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 | 564,576 |
Others | ||
Goodwill allocated in the Group's CGUs [Line Items] | ||
Goodwill allocated in the Group's CGUs | ₩ 165,735 | ₩ 151,757 |
Changes in goodwill (Details)
Changes in goodwill (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Changes in Goodwill [Abstract] | |||
Beginning balance | ₩ 4,690,049 | ₩ 3,903,518 | |
Acquisitions through business combinations | [1],[2] | 13,978 | 786,531 |
Impairment losses | (14,235) | 0 | |
Ending balance | ₩ 4,689,792 | ₩ 4,690,049 | |
[1] | It is the goodwill recognized by the Group as it newly acquired the Neoflux Co., Ltd. (Note 47) | ||
[2] | It is the goodwill recognized by the Group as it newly acquired the 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. |
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, 2020KRW (₩) |
Total Recoverable Amount And Total Carrying Value Of CGUs To Which Goodwill Has Been Allocated, Are As Follows [Abstract] | |
Total recoverable amount | ₩ 49,034,706 |
Total carrying value | 43,690,747 |
Difference | ₩ 5,343,959 |
Investments in associates (Deta
Investments in associates (Details) | 12 Months Ended |
Dec. 31, 2020 | |
BNP Paribas Cardif Life Insurance | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Sep. 30, 2020 |
Ownership at beginning of period | 14.99% |
Ownership at end of period | 14.99% |
Neoplux Technology Valuation Investment Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Sep. 30, 2020 |
Ownership at beginning of period | 33.33% |
Ownership at end of period | 0.00% |
Partners 4th Growth Investment Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Sep. 30, 2020 |
Ownership at beginning of period | 25.00% |
Ownership at end of period | 25.00% |
Songrim Partners | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 35.34% |
Ownership at end of period | 35.34% |
KTB Newlake Global Healthcare PEF | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Sep. 30, 2020 |
Ownership at beginning of period | 30.00% |
Ownership at end of period | 30.00% |
DAEKWANG SEMICONDUCTOR CO., LTD. | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Sep. 30, 2020 |
Ownership at beginning of period | 20.94% |
Ownership at end of period | 20.94% |
Shinhan-Neoplux Energy Newbiz Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 23.33% |
Ownership at end of period | 31.66% |
Shinhan-Albatross Tech Investment Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 50.00% |
Ownership at end of period | 49.97% |
Plutus-SG Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 26.67% |
Ownership at end of period | 0.00% |
Eum Private Equity Fund No.3 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 20.76% |
Ownership at end of period | 20.76% |
KTB Confidence Private Placement | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 31.43% |
Ownership at end of period | 0.00% |
Meritz AI-SingA330-A Investment Type Private Placement Special Asset Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 23.89% |
Ownership at end of period | 23.89% |
Meritz AI-SingA330-B Investment Type Private Placement Special Asset Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 20.16% |
Ownership at end of period | 20.16% |
VOGO DEBT STRATEGY QUALIFIED INV PRIVATE R/E INV TR 4 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 20.00% |
Ownership at end of period | 20.00% |
Shinhan-Midas Donga Secondary Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 50.00% |
Ownership at end of period | 50.00% |
ShinHan - Soo Young Entrepreneur Investment Fund No.1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 24.00% |
Ownership at end of period | 24.00% |
Synergy-Shinhan Mezzanine New Technology Investment Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 47.62% |
Ownership at end of period | 0.00% |
Shinhan Praxis K-Growth Global Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 18.87% |
Ownership at end of period | 18.87% |
Credian Healthcare Private Equity Fund II | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 34.07% |
Ownership at end of period | 34.07% |
Kiwoom Milestone Professional Private Real Estate Trust 19 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 50.00% |
Ownership at end of period | 50.00% |
AIP EUROGREEN Private Real Estate Investment Trust No.3 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 21.28% |
Ownership at end of period | 21.28% |
Hanhwa US Equity Strategy Private Real Estate Fund No.1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 44.84% |
Ownership at end of period | 44.84% |
Shinhan Global Healthcare Fund 1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 4.41% |
Ownership at end of period | 4.41% |
JB Power TL Investment Type Private Placement Special Asset Fund 7 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 33.33% |
Ownership at end of period | 33.33% |
IBK AONE convertible 1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 47.25% |
Ownership at end of period | 0.00% |
Rico synergy collabo Multi-Mezzanine 3 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 50.03% |
Ownership at end of period | 0.00% |
KB NA Hickory Private Special Asset Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 37.50% |
Ownership at end of period | 37.50% |
Koramco Europe Core Private Placement Real Estate Fund No.2-2 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 44.02% |
Ownership at end of period | 44.02% |
BNP Paribas Cardif General Insurance | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Sep. 30, 2020 |
Ownership at beginning of period | 10.00% |
Ownership at end of period | 7.46% |
Axis Global Growth New Technology Investment Association | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 31.85% |
Ownership at end of period | 0.00% |
Hermes Private Investment Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 29.17% |
Ownership at end of period | 29.17% |
SHC ULMUS Fund No.1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 29.41% |
Ownership at end of period | 0.00% |
Shinhan-Nvestor Liquidity Solution Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 24.92% |
Ownership at end of period | 24.92% |
Shinhan AIM FoF Fund 1a | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 25.00% |
Ownership at end of period | 25.00% |
IGIS Global Credit Fund 150-1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 25.00% |
Ownership at end of period | 25.00% |
GX SHINHAN INTERVEST 1st Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 25.27% |
Ownership at end of period | 0.00% |
Soo Commerce Platform Growth Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 24.62% |
Ownership at end of period | 24.62% |
Partner One Value up I Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 27.91% |
Ownership at end of period | 27.91% |
Genesis No.1 Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 22.80% |
Ownership at end of period | 22.80% |
GMB ICT New Technology Investment Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 26.75% |
Ownership at end of period | 0.00% |
Korea Omega Project Fund III | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 23.53% |
Ownership at end of period | 23.53% |
Soo Delivery Platform Growth Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 30.00% |
Ownership at end of period | 30.00% |
Genesis North America Power Company No.1 PEF | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 39.92% |
Ownership at end of period | 39.96% |
Hyungje art printing | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 31.54% |
Ownership at end of period | 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, 2020 |
Ownership at beginning of period | 23.33% |
Ownership at end of period | 23.33% |
Shinhan-Rhinos 1 Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 22.48% |
Ownership at end of period | 22.48% |
Pacific Private Investment Trust No.20 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 21.74% |
Ownership at end of period | 21.74% |
Susung Mezzanine project P1 Private Investment Trust | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 41.18% |
Ownership at end of period | 41.31% |
Korea Finance Security | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Sep. 30, 2020 |
Ownership at beginning of period | 14.91% |
Ownership at end of period | 14.91% |
Multimedia Tech Co.Ltd | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 21.06% |
Ownership at end of period | 21.06% |
MIEL CO.,LTD | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 28.77% |
Ownership at end of period | 28.77% |
AIP Transportation Specialized Privately Placed Fund Trust #1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 35.73% |
Ownership at end of period | 35.73% |
DB Epic Convertiblebond Private Trust No.2 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 50.00% |
Ownership at end of period | 50.98% |
PCC S/W 2nd Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 29.56% |
Ownership at end of period | 0.00% |
E&Healthcare Investment Fund No.6 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 20.37% |
Ownership at end of period | 21.05% |
One Shinhan Global Fund 1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 19.98% |
Ownership at end of period | 19.96% |
Kiwoom-Shinhan Innovation Fund I | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 50.00% |
Ownership at end of period | 50.00% |
Daishin-K&T New Technology Investment Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 31.25% |
Ownership at end of period | 31.25% |
Midas Asset Global CRE Debt Private Fund No.6 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 20.05% |
Ownership at end of period | 41.16% |
Richmond Private Investment Trust No.82 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 60.00% |
Ownership at end of period | 60.00% |
Tiger Alternative Real Estate Professional Private5 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 48.71% |
Ownership at end of period | 48.71% |
Samchully Midstream Private Placement Special Asset Fund 5-4 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 42.92% |
Ownership at end of period | 42.92% |
SHBNPP Senior Loan Professional Investment Type Private Mixed Asset Investment Trust No.3 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 20.00% |
Ownership at end of period | 20.00% |
AUCTUS FITRIN Corporate Recovery Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 21.43% |
Ownership at end of period | 0.00% |
NH-Amundi Global Infrastructure Trust 14 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 30.00% |
Ownership at end of period | 30.00% |
Pacific Private Real Estate Fund Investment Trust No.30 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 37.50% |
Ownership at end of period | 0.00% |
Jarvis Memorial Private Investment Trust 1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 99.01% |
Ownership at end of period | 99.01% |
Mastern Private Investment Trust 68 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 53.76% |
Ownership at end of period | 53.76% |
Vestas Qualified Investors Private Real Estate Fund Investment Trust No.37 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 60.00% |
Ownership at end of period | 60.00% |
Milestone Private Real Estate Fund 3 (Derivative Type) | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 32.06% |
Ownership at end of period | 32.06% |
IGIS Private Real Estate Investment Trust 286 (2 class) | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 41.56% |
Ownership at end of period | 41.44% |
Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 31.31% |
Ownership at end of period | 31.31% |
Lime Pricing Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 25.85% |
Ownership at end of period | 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, 2020 |
Ownership at beginning of period | 21.27% |
Ownership at end of period | 21.27% |
DS Solid.II Hedge Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 27.41% |
Ownership at end of period | 0.00% |
Hana Semiconductor New Technology Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 24.30% |
Ownership at end of period | 24.30% |
J&Magnet Startup Venture Specialized Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 24.39% |
Ownership at end of period | 24.39% |
Cape IT Fund No.3 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 32.89% |
Ownership at end of period | 32.89% |
FuturePlay-Shinhan TechInnovation Fund 1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 50.00% |
Ownership at end of period | 50.00% |
Stonebridge Corporate 1st Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 44.12% |
Ownership at end of period | 44.12% |
Vogo Realty Partners Private Real Estate Fund V | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 21.64% |
Ownership at end of period | 21.64% |
IL GU FARM CO.,LTD | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 28.47% |
Ownership at end of period | 0.00% |
Korea Credit Bureau | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Sep. 30, 2020 |
Ownership at beginning of period | 9.00% |
Ownership at end of period | 9.00% |
Goduck Gangil1 PFV Co., Ltd | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Sep. 30, 2020 |
Ownership at beginning of period | 1.04% |
Ownership at end of period | 1.04% |
SBC PFV Co., Ltd | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Sep. 30, 2020 |
Ownership at beginning of period | 25.00% |
Ownership at end of period | 25.00% |
Sprott Global Renewable Private Equity Fund II | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 23.10% |
Ownership at end of period | 0.00% |
NH-amundi global infra private fund 16 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 50.00% |
Ownership at end of period | 50.00% |
IMM Global Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 31.85% |
Ownership at end of period | 33.00% |
HANA Alternative Estate Professional Private122 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 75.19% |
Ownership at end of period | 75.19% |
Hanwha-Incus Plus New Technology Fund No.1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 42.64% |
Ownership at end of period | 42.64% |
SHBNPP Corporate Professional Investment Type Private Security Investment Trust No.7[Bond] | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 45.96% |
Ownership at end of period | 45.96% |
SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 57.50% |
Ownership at end of period | 72.39% |
PSA EMP Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 28.99% |
Ownership at end of period | 28.99% |
Deutsche Global Professional Investment Type Private Real Estate Investment Trust No. 24 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 52.28% |
Ownership at end of period | 52.28% |
SHBNPP Peace of Mind TDF 2035 Security Investment Trust [Equity Balanced-FoF] | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 25.70% |
Ownership at end of period | 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, 2020 |
Ownership at beginning of period | 25.42% |
Ownership at end of period | 0.00% |
BRAIN DO PROFESSIONALE PRIVATE No. 27 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 29.13% |
Ownership at end of period | 29.13% |
VISION US Muni US Local Debt Opportunities Professional Private1(S) | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 25.00% |
Ownership at end of period | 0.00% |
UI Venture Fund 7th | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 24.39% |
Sparklabs-Shinhan Opportunity Fund 1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 49.50% |
BNW Tech-Innovation Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 29.85% |
IGIS Real-estate Private Investment Trust No.33 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 40.86% |
Findvalue PreIPO 6th Professional Investment Type Private Investment Trust | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 31.58% |
WWG Global Real Estate Investment Trust no.4 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 29.55% |
Fidelis Global Private Real Estate Trust No.2 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 78.26% |
IGIS PRIVATE REAL ESTATE TRUST NO.331 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 30.77% |
AIP EURO PRIVATE REAL ESTATE TRUST No. 12 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 28.70% |
Pebblestone CGV Private Real Estate Trust No.1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 48.53% |
Shinhan AIM Real Estate Fund No.2 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 30.00% |
Shinhan AIM Real Estate Fund No.1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 21.01% |
SHBNPP Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust [Infra business] | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 22.02% |
SHBNPP Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust [Infra business] | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 29.19% |
SHBNPP Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2(USD) | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 71.43% |
SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No. 1 [Equity securities-Derivative] | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 30.00% |
Korea Omega-Shinhan Project Fund I | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 50.00% |
New Green Shinhan Mezzanine Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 39.22% |
KORAMKO-Daum Professional Private Investment Trust No.12 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 33.33% |
Samsung SRA Real Estate Professional Private 45[FoFs] | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 25.00% |
IBK Global New Renewable Energy Special Asset Professional Private2 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 28.98% |
VS Cornerstone Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 41.18% |
Aone Mezzanine Opportunity Professional Private | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 66.12% |
KiwoomUnicorn3New Technology Business Investment Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 21.28% |
Multi Asset The United States Thortons Professional Private1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 25.00% |
Kiwoom Milestone US Real Estate Professional Private20 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 75.27% |
NH-Amundi US Infrastructure Private Fund2 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 25.91% |
KB Distribution Private Real Estate1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 62.00% |
SHBNPP Jigae Namsan BTO professional Investment Type Private Special Asset Investment Trust [Infra business] | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 28.93% |
SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No.2 [Loan-Derivative] | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 30.00% |
Kakao-Shinhan 1st TNYT Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 48.62% |
IMM Special Situation 1-2 PRIVATE EQUITY FUND | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 20.02% |
Pacific Private Placement Real Estate Fund No.40 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 24.73% |
Mastern Private Real Estate Loan Fund No.2 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 33.57% |
LB Scotland Amazon Fulfillment Center Fund 29 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 70.14% |
JR AMC Hungary Budapest Office Fund 16 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 32.57% |
IGIS 372 Real Estate Professional Private | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 28.39% |
KoFC-Neoplux R&D-Biz Creation 2013-1 Venture Capital Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 19.00% |
Future-Creation Neoplux Venture Capital Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 16.25% |
Gyeonggi-Neoplux Superman Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 21.76% |
NewWave 6th Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 30.00% |
Neoplux No.3 Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 10.00% |
PCC Amberstone Private Equity Fund I | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 21.67% |
KIAMCO POWERLOAN TRUST 4TH | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 47.37% |
Mastern Opportunity Seeking Real Estate Fund II | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 20.00% |
AION ELFIS PROFESSIONAL PRIVATE 1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 20.00% |
T&F 2020 SS Private Equity Fund Specializing in Start-up and Venture Business | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 29.68% |
Neoplux Market-Frontier Secondary Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 19.74% |
Synergy Green New Deal 1st New Technology Business Investment Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 28.17% |
KAIM Real-estate Private Investment Trust 20 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 38.46% |
KIAMCO Vietnam Solar Special Asset Private Investment Trust | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 50.00% |
CSQUARE SNIPER PROFESSIONAL PRIVATE 10 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 62.50% |
IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-1 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 97.85% |
IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-2 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 97.85% |
Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 25.00% |
IGIS Professional Investors Private Investment Real Estate Investment LLC No.395 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 58.82% |
SHBNPP Green New Deal Energy Professional Investment Type Private Special Asset Investment Trust No.2 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 30.00% |
Eum Private Equity Fund No.7 | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 21.00% |
Kiwoom Private Equity Ant-Man Startup Venture Specialized Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 25.00% |
Kiwoom Hero No.4 Private Equity Fund | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 21.05% |
Vogo Canister Professional Trust Private Fund I | |
Investments in associates [Line Items] | |
Country | Korea |
Reporting date | Dec. 31, 2020 |
Ownership at beginning of period | 0.00% |
Ownership at end of period | 36.68% |
Changes in investments in assoc
Changes in investments in associates (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | ₩ 1,452,861 | ₩ 671,330 | |
Investment and Dividend | 1,056,238 | 724,902 | |
Equity method income (loss) | 159,533 | 53,287 | ₩ 17,488 |
Change in other comprehensive income (loss) | (1,457) | 3,342 | |
Impairment loss | (9,407) | 0 | (5,849) |
Investments in associates | 2,657,768 | 1,452,861 | ₩ 671,330 |
BNP Paribas Cardif Life Insurance | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 52,586 | 49,816 | |
Investment and Dividend | 0 | (373) | |
Equity method income (loss) | (928) | (517) | |
Change in other comprehensive income (loss) | (1,058) | 3,660 | |
Impairment loss | 0 | 0 | |
Investments in associates | 50,600 | 52,586 | |
Songrim Partners | |||
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 | |
Neoplux Technology Valuation Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 16,384 | 18,738 | |
Investment and Dividend | (16,171) | (1,661) | |
Equity method income (loss) | (213) | (693) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 16,384 | |
Partners 4th Growth Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 14,917 | 16,612 | |
Investment and Dividend | (4,474) | (1,219) | |
Equity method income (loss) | 1,515 | (476) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 11,958 | 14,917 | |
KTB Newlake Global Healthcare PEF | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 11,280 | 9,885 | |
Investment and Dividend | (1,950) | 1,500 | |
Equity method income (loss) | 74 | (105) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 9,404 | 11,280 | |
DAEKWANG SEMICONDUCTOR CO., LTD. | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,388 | 3,334 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 243 | 52 | |
Change in other comprehensive income (loss) | 0 | 2 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,631 | 3,388 | |
Shinhan-Neoplux Energy Newbiz Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 7,880 | 3,974 | |
Investment and Dividend | 5,887 | 4,200 | |
Equity method income (loss) | 703 | (294) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 14,470 | 7,880 | |
Shinhan-Albatross Tech Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 8,734 | 8,908 | |
Investment and Dividend | 4,650 | 0 | |
Equity method income (loss) | (62) | 132 | |
Change in other comprehensive income (loss) | 0 | (306) | |
Impairment loss | 0 | 0 | |
Investments in associates | 13,322 | 8,734 | |
KCLAVIS Meister Fund No.17 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 3,083 | |
Investment and Dividend | 0 | (1,801) | |
Equity method income (loss) | 0 | (84) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 1,198 | |
Plutus-SG Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,231 | 4,252 | |
Investment and Dividend | (5,230) | (132) | |
Equity method income (loss) | 999 | 111 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 4,231 | |
SG ARGES Private Equity Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 4,341 | |
Investment and Dividend | 0 | (4,796) | |
Equity method income (loss) | 0 | 455 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
Eum Private Equity Fund No.3 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,574 | 4,889 | |
Investment and Dividend | (5,621) | (2,476) | |
Equity method income (loss) | 2,050 | 1,161 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3 | 3,574 | |
KTB Confidence Private Placement | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 6,067 | 5,302 | |
Investment and Dividend | (6,063) | (215) | |
Equity method income (loss) | (4) | 980 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 6,067 | |
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 | 4,256 | 5,432 | |
Investment and Dividend | (772) | (1,266) | |
Equity method income (loss) | (3,484) | 90 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 4,256 | |
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 | 8,916 | 8,429 | |
Investment and Dividend | (48) | 242 | |
Equity method income (loss) | (8,868) | 245 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 8,916 | |
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 | 9,930 | 4,831 | |
Investment and Dividend | (1,700) | 4,820 | |
Equity method income (loss) | 472 | 279 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 8,702 | 9,930 | |
Platform Partners brick save Private Investment trust | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 8,120 | |
Investment and Dividend | 0 | (8,197) | |
Equity method income (loss) | 0 | 77 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
Shinhan-Midas Donga Secondary Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,486 | 2,061 | |
Investment and Dividend | 1,150 | 1,750 | |
Equity method income (loss) | 116 | (325) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,752 | 3,486 | |
ShinHan - Soo Young Entrepreneur Investment Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,549 | 2,554 | |
Investment and Dividend | 1,495 | 1,968 | |
Equity method income (loss) | 3,924 | 27 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 9,968 | 4,549 | |
Synergy-Shinhan Mezzanine New Technology Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,912 | 10,149 | |
Investment and Dividend | (4,406) | (6,492) | |
Equity method income (loss) | 494 | 255 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 3,912 | |
Shinhan Praxis K-Growth Global Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 10,302 | 16,527 | |
Investment and Dividend | 78 | (8,745) | |
Equity method income (loss) | (435) | 2,520 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 9,945 | 10,302 | |
Credian Healthcare Private Equity Fund II | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 2,377 | 4,553 | |
Investment and Dividend | (4,937) | (2,526) | |
Equity method income (loss) | 8,395 | 350 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 5,835 | 2,377 | |
Kiwoom Milestone Professional Private Real Estate Trust 19 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 10,407 | 10,419 | |
Investment and Dividend | (265) | (241) | |
Equity method income (loss) | (224) | 229 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 9,918 | 10,407 | |
AIP EUROGREEN Private Real Estate Investment Trust No.3 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 20,884 | 20,544 | |
Investment and Dividend | (1,189) | (1,248) | |
Equity method income (loss) | 1,326 | 1,588 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 21,021 | 20,884 | |
Brain Professional Private Trust No.4 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 5,244 | |
Investment and Dividend | 0 | (5,175) | |
Equity method income (loss) | 0 | (69) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
Hanhwa US Equity Strategy Private Real Estate Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 25,964 | 26,232 | |
Investment and Dividend | (26,907) | (1,866) | |
Equity method income (loss) | 3,220 | 1,598 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 2,277 | 25,964 | |
Brain KS Qualified Privately Placed Fund No.6 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 5,097 | |
Investment and Dividend | 0 | (5,041) | |
Equity method income (loss) | 0 | (56) | |
Change in other comprehensive income (loss) | 0 | 0 | |
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 | 3,209 | 3,285 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 128 | (76) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | (3,337) | 0 | |
Investments in associates | 0 | 3,209 | |
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 | 16,800 | 17,484 | |
Investment and Dividend | (1,359) | (1,513) | |
Equity method income (loss) | 745 | 829 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 16,186 | 16,800 | |
IBK AONE convertible 1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 6,077 | 5,906 | |
Investment and Dividend | (6,048) | 0 | |
Equity method income (loss) | (29) | 171 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 6,077 | |
Rico synergy collabo Multi-Mezzanine 3 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,217 | 5,290 | |
Investment and Dividend | (3,221) | (2,501) | |
Equity method income (loss) | 4 | 428 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 3,217 | |
KB NA Hickory Private Special Asset Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 35,930 | 34,360 | |
Investment and Dividend | (2,609) | 445 | |
Equity method income (loss) | 1,617 | 1,125 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 34,938 | 35,930 | |
GB Professional Private Investment Trust 6 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 8,588 | |
Investment and Dividend | 0 | (8,588) | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
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 | 19,562 | 18,616 | |
Investment and Dividend | (1,330) | (1,458) | |
Equity method income (loss) | 386 | 2,404 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 18,618 | 19,562 | |
SHBNPP Private Korea Equity Long-Short Professional Feeder | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 14,370 | |
Investment and Dividend | 0 | (14,325) | |
Equity method income (loss) | 0 | (45) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
Shinhan-Stonebridge Petro PEF | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 18,681 | |
Investment and Dividend | 0 | (19,589) | |
Equity method income (loss) | 0 | 909 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 1 | |
BNP Paribas Cardif General Insurance | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 2,113 | 3,423 | |
Investment and Dividend | 3,066 | 0 | |
Equity method income (loss) | (1,244) | (1,296) | |
Change in other comprehensive income (loss) | (40) | (14) | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,895 | 2,113 | |
Axis Global Growth New Technology Investment Association | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,205 | 4,875 | |
Investment and Dividend | (2,920) | (1,592) | |
Equity method income (loss) | (285) | (78) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 3,205 | |
Polaris No7 Start up and Venture Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 4,338 | |
Investment and Dividend | 0 | (2,300) | |
Equity method income (loss) | 0 | 265 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 2,303 | |
Hermes Private Investment Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 6,376 | 7,065 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | (277) | (689) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 6,099 | 6,376 | |
SHC ULMUS Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,149 | 2,890 | |
Investment and Dividend | (3,289) | 0 | |
Equity method income (loss) | 140 | 259 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 3,149 | |
Shinhan-Nvestor Liquidity Solution Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,865 | 2,689 | |
Investment and Dividend | (1,004) | 2,700 | |
Equity method income (loss) | 632 | (524) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,493 | 4,865 | |
Shinhan AIM FoF Fund 1a | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 7,242 | 4,351 | |
Investment and Dividend | 1,324 | 2,363 | |
Equity method income (loss) | 194 | 528 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 8,760 | 7,242 | |
Daishin Heim Qualified Investor Private Investment Trust No.1808 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 10,126 | |
Investment and Dividend | 0 | (10,297) | |
Equity method income (loss) | 0 | 171 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
Heungkuk High Class Professional Trust Private Fund 37 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 9,438 | |
Investment and Dividend | 0 | (9,505) | |
Equity method income (loss) | 0 | 67 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
IGIS Global Credit Fund 150-1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 9,718 | 8,896 | |
Investment and Dividend | (4,002) | 781 | |
Equity method income (loss) | 1,566 | 41 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 7,282 | 9,718 | |
GX SHINHAN INTERVEST 1st Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 33,166 | 31,831 | |
Investment and Dividend | (54,515) | 0 | |
Equity method income (loss) | 21,349 | 1,335 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 33,166 | |
Soo Commerce Platform Growth Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 6,343 | 6,378 | |
Investment and Dividend | (8,474) | 0 | |
Equity method income (loss) | 3,278 | (35) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 1,147 | 6,343 | |
Partner One Value up I Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 11,891 | 11,939 | |
Investment and Dividend | (20) | 0 | |
Equity method income (loss) | (92) | (48) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 11,779 | 11,891 | |
Genesis No.1 Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 51,150 | 45,758 | |
Investment and Dividend | 388 | 404 | |
Equity method income (loss) | 28,575 | 4,988 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 80,113 | 51,150 | |
GMB ICT New Technology Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 7,854 | 7,934 | |
Investment and Dividend | (7,853) | 0 | |
Equity method income (loss) | (1) | (80) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 7,854 | |
Korea Omega Project Fund III | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,016 | 1,992 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | 547 | 1,024 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,563 | 3,016 | |
Soo Delivery Platform Growth Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 8,922 | 8,983 | |
Investment and Dividend | (7,929) | (171) | |
Equity method income (loss) | 3,075 | 110 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,068 | 8,922 | |
Genesis North America Power Company No.1 PEF | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 18,275 | 20,824 | |
Investment and Dividend | (3,869) | (4,035) | |
Equity method income (loss) | 2,577 | 1,486 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 16,983 | 18,275 | |
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 | 20,712 | 6,204 | |
Investment and Dividend | (10,794) | 14,147 | |
Equity method income (loss) | 664 | 361 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,582 | 20,712 | |
Shinhan-Rhinos 1 Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,029 | 0 | |
Investment and Dividend | (1,004) | 3,000 | |
Equity method income (loss) | 574 | 29 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 2,599 | 3,029 | |
Pacific Private Investment Trust No.20 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,076 | 0 | |
Investment and Dividend | (1,289) | 3,819 | |
Equity method income (loss) | 212 | 257 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 2,999 | 4,076 | |
Susung Mezzanine project P1 Private Investment Trust | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 5,128 | 0 | |
Investment and Dividend | (3,613) | 4,000 | |
Equity method income (loss) | (170) | 1,128 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 1,345 | 5,128 | |
Korea Finance Security | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,235 | 0 | |
Investment and Dividend | 0 | 3,448 | |
Equity method income (loss) | (180) | (213) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,055 | 3,235 | |
Multimedia Tech Co.Ltd | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 19 | 0 | |
Investment and Dividend | 0 | 0 | |
Equity method income (loss) | (19) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 0 | |
MIEL 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 | |
AIP Transportation Specialized Privately Placed Fund Trust #1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 31,580 | 0 | |
Investment and Dividend | 1,366 | 31,136 | |
Equity method income (loss) | 47 | 444 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 32,993 | 31,580 | |
DB Epic Convertiblebond Private Trust No.2 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 5,063 | 0 | |
Investment and Dividend | 202 | 5,000 | |
Equity method income (loss) | 520 | 63 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 5,785 | 5,063 | |
PCC S/W 2nd Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,001 | 0 | |
Investment and Dividend | (3,328) | 3,000 | |
Equity method income (loss) | 327 | 1 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 3,001 | |
E&Healthcare Investment Fund No.6 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 7,776 | 0 | |
Investment and Dividend | 0 | 7,030 | |
Equity method income (loss) | 7,387 | 746 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 15,163 | 7,776 | |
One Shinhan Global Fund 1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,441 | 0 | |
Investment and Dividend | 0 | 4,520 | |
Equity method income (loss) | (412) | (79) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,029 | 4,441 | |
Kiwoom-Shinhan Innovation Fund I | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 7,284 | 0 | |
Investment and Dividend | 7,500 | 7,500 | |
Equity method income (loss) | 1,185 | (216) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 15,969 | 7,284 | |
Daishin-K&T New Technology Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 7,057 | 0 | |
Investment and Dividend | 0 | 7,000 | |
Equity method income (loss) | (57) | 57 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 7,000 | 7,057 | |
Midas Asset Global CRE Debt Private Fund No.6 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 23,731 | 0 | |
Investment and Dividend | 21,537 | 23,194 | |
Equity method income (loss) | 2,121 | 537 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 47,389 | 23,731 | |
Richmond Private Investment Trust No.82 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 15,120 | 0 | |
Investment and Dividend | (855) | 14,569 | |
Equity method income (loss) | 784 | 551 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 15,049 | 15,120 | |
Tiger Alternative Real Estate Professional Private5 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 19,820 | 0 | |
Investment and Dividend | (1,376) | 19,876 | |
Equity method income (loss) | 55 | (56) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 18,499 | 19,820 | |
Samchully Midstream Private Placement Special Asset Fund 5-4 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 30,742 | 0 | |
Investment and Dividend | (968) | 29,436 | |
Equity method income (loss) | (956) | 1,306 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 28,818 | 30,742 | |
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 | 53,831 | 0 | |
Investment and Dividend | 9,253 | 52,048 | |
Equity method income (loss) | 2,532 | 1,783 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 65,616 | 53,831 | |
AUCTUS FITRIN Corporate Recovery Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 14,358 | 0 | |
Investment and Dividend | (14,484) | 14,250 | |
Equity method income (loss) | 126 | 108 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 14,358 | |
NH-Amundi Global Infrastructure Trust 14 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 18,497 | 0 | |
Investment and Dividend | (460) | 17,769 | |
Equity method income (loss) | 782 | 728 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 18,819 | 18,497 | |
Pacific Private Real Estate Fund Investment Trust No.30 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 14,816 | 0 | |
Investment and Dividend | (15,374) | 14,236 | |
Equity method income (loss) | 558 | 580 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 14,816 | |
Jarvis Memorial Private Investment Trust 1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 10,166 | 0 | |
Investment and Dividend | (763) | 9,888 | |
Equity method income (loss) | 640 | 278 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,043 | 10,166 | |
Mastern Private Investment Trust 68 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 9,999 | 0 | |
Investment and Dividend | (460) | 9,764 | |
Equity method income (loss) | 471 | 235 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,010 | 9,999 | |
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 | 4,397 | 0 | |
Investment and Dividend | 30,510 | 4,434 | |
Equity method income (loss) | 734 | (37) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 35,641 | 4,397 | |
Milestone Private Real Estate Fund 3 (Derivative Type) | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 17,186 | 0 | |
Investment and Dividend | (838) | 17,016 | |
Equity method income (loss) | 2,180 | 170 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 18,528 | 17,186 | |
IGIS Private Real Estate Investment Trust 286 (2 class) | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 9,768 | 0 | |
Investment and Dividend | (1,361) | 10,100 | |
Equity method income (loss) | 437 | (332) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 8,844 | 9,768 | |
Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 8,914 | 0 | |
Investment and Dividend | (932) | 9,018 | |
Equity method income (loss) | 425 | (104) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 8,407 | 8,914 | |
Lime Pricing Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 8,300 | 0 | |
Investment and Dividend | (8,217) | 8,400 | |
Equity method income (loss) | (83) | (100) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 8,300 | |
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 | 41,991 | 0 | |
Investment and Dividend | (29,980) | 39,376 | |
Equity method income (loss) | 1,312 | 2,615 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 13,323 | 41,991 | |
DS Solid.II Hedge Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 4,123 | 0 | |
Investment and Dividend | (6,397) | 4,300 | |
Equity method income (loss) | 2,274 | (177) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 4,123 | |
Hana Semiconductor New Technology Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 12,856 | 0 | |
Investment and Dividend | (2,557) | 13,000 | |
Equity method income (loss) | 13,832 | (144) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 24,131 | 12,856 | |
J&Magnet Startup Venture Specialized Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 5,979 | 0 | |
Investment and Dividend | (2,151) | 6,000 | |
Equity method income (loss) | 2,107 | (21) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 5,935 | 5,979 | |
Cape IT Fund No.3 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 9,967 | 0 | |
Investment and Dividend | (580) | 10,000 | |
Equity method income (loss) | 1,262 | (33) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,649 | 9,967 | |
FuturePlay-Shinhan TechInnovation Fund 1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 868 | ||
Investment and Dividend | 3,661 | ||
Equity method income (loss) | (234) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 4,295 | 0 | |
Stonebridge Corporate 1st Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 2,981 | ||
Investment and Dividend | 0 | ||
Equity method income (loss) | 258 | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 3,239 | 0 | |
Vogo Realty Partners Private Real Estate Fund V | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 10,376 | 0 | |
Investment and Dividend | (566) | 10,611 | |
Equity method income (loss) | 1,017 | (235) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,827 | 10,376 | |
IL GU FARM 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 | |
Korea Credit Bureau | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 6,812 | 0 | |
Investment and Dividend | (90) | 4,500 | |
Equity method income (loss) | 254 | 2,312 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 6,976 | 6,812 | |
SBC PFV Co., Ltd | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 20,000 | 0 | |
Investment and Dividend | 0 | 20,000 | |
Equity method income (loss) | (1,792) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 18,208 | 20,000 | |
Goduck Gangil1 PFV Co., Ltd | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 48 | ||
Investment and Dividend | 0 | ||
Equity method income (loss) | (48) | ||
Change in other comprehensive income (loss) | 0 | ||
Impairment loss | 0 | ||
Investments in associates | 0 | 0 | |
Sprott Global Renewable Private Equity Fund II | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 19,016 | 0 | |
Investment and Dividend | (18,909) | 20,131 | |
Equity method income (loss) | (107) | (1,115) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 19,016 | |
NH-amundi global infra private fund 16 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 48,158 | 0 | |
Investment and Dividend | (1,236) | 49,530 | |
Equity method income (loss) | (3,083) | (1,372) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 43,839 | 48,158 | |
IMM Global Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 28,925 | 0 | |
Investment and Dividend | 90,776 | 28,945 | |
Equity method income (loss) | 1,154 | (20) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 120,855 | 28,925 | |
HANA Alternative Estate Professional Private122 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 26,205 | 0 | |
Investment and Dividend | (644) | 28,487 | |
Equity method income (loss) | 4,070 | (2,282) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 29,631 | 26,205 | |
Hanwha-Incus Plus New Technology Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 5,499 | 0 | |
Investment and Dividend | 0 | 5,500 | |
Equity method income (loss) | 5,527 | (1) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 11,026 | 5,499 | |
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 | 51,293 | 0 | |
Investment and Dividend | (1,613) | 51,293 | |
Equity method income (loss) | 1,530 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 51,210 | 51,293 | |
SHBNPP BNCT Professional Investment Type Private Special Asset Investment Trust | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 150,317 | 0 | |
Investment and Dividend | 127,753 | 146,045 | |
Equity method income (loss) | 8,461 | 4,272 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 286,531 | 150,317 | |
PSA EMP Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 9,927 | 0 | |
Investment and Dividend | (278) | 10,000 | |
Equity method income (loss) | 165 | (73) | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 9,814 | 9,927 | |
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 | 29,463 | 0 | |
Investment and Dividend | (239) | 28,314 | |
Equity method income (loss) | 177 | 1,149 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 29,401 | 29,463 | |
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 | 5,727 | 0 | |
Investment and Dividend | (5,727) | 5,727 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 5,727 | |
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 | 5,729 | 0 | |
Investment and Dividend | (5,729) | 5,729 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 5,729 | |
BRAIN DO PROFESSIONALE PRIVATE No. 27 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 3,065 | 0 | |
Investment and Dividend | 0 | 3,000 | |
Equity method income (loss) | 376 | 65 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,441 | 3,065 | |
VISION US Muni US Local Debt Opportunities Professional Private1(S) | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 9,869 | 0 | |
Investment and Dividend | (10,032) | 9,500 | |
Equity method income (loss) | 163 | 369 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 0 | 9,869 | |
UI Venture Fund 7th | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 3,000 | 0 | |
Equity method income (loss) | 279 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,279 | 0 | |
Sparklabs-Shinhan Opportunity Fund 1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 4,999 | 0 | |
Equity method income (loss) | (167) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,832 | 0 | |
BNW Tech-Innovation Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 6,000 | 0 | |
Equity method income (loss) | (58) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 5,942 | 0 | |
IGIS Real-estate Private Investment Trust No.33 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 13,945 | 0 | |
Equity method income (loss) | 154 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 14,099 | 0 | |
Findvalue PreIPO 6th Professional Investment Type Private Investment Trust | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 3,000 | 0 | |
Equity method income (loss) | 2 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,002 | 0 | |
WWG Global Real Estate Investment Trust no.4 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 16,874 | 0 | |
Equity method income (loss) | 878 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 17,752 | 0 | |
Fidelis Global Private Real Estate Trust No.2 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 18,582 | 0 | |
Equity method income (loss) | 903 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 19,485 | 0 | |
IGIS PRIVATE REAL ESTATE TRUST NO.331 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 3,932 | 0 | |
Equity method income (loss) | (167) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,765 | 0 | |
AIP EURO PRIVATE REAL ESTATE TRUST No. 12 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 45,082 | 0 | |
Equity method income (loss) | 3,262 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 48,344 | 0 | |
Pebblestone CGV Private Real Estate Trust No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 12,793 | 0 | |
Equity method income (loss) | 553 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 13,346 | 0 | |
Shinhan AIM Real Estate Fund No.2 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 36,186 | 0 | |
Equity method income (loss) | (7,652) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | (6,070) | 0 | |
Investments in associates | 22,464 | 0 | |
Shinhan AIM Real Estate Fund No.1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 45,415 | 0 | |
Equity method income (loss) | 1,530 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 46,945 | 0 | |
SHBNPP Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust [Infra business] | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 32,258 | 0 | |
Equity method income (loss) | 686 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 32,944 | 0 | |
SHBNPP Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust [Infra business] | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 22,003 | 0 | |
Equity method income (loss) | (1,101) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 20,902 | 0 | |
SHBNPP Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2(USD) | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 7,273 | 0 | |
Equity method income (loss) | (581) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 6,692 | 0 | |
SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No. 1 [Equity securities-Derivative] | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 4,859 | 0 | |
Equity method income (loss) | (14) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,845 | 0 | |
Korea Omega-Shinhan Project Fund I | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 6,000 | 0 | |
Equity method income (loss) | (69) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 5,931 | 0 | |
New Green Shinhan Mezzanine Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 4,000 | 0 | |
Equity method income (loss) | 916 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,916 | 0 | |
KORAMKO-Daum Professional Private Investment Trust No.12 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 6,930 | 0 | |
Equity method income (loss) | 598 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 7,528 | 0 | |
Samsung SRA Real Estate Professional Private 45[FoFs] | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 10,701 | 0 | |
Equity method income (loss) | (35) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,666 | 0 | |
IBK Global New Renewable Energy Special Asset Professional Private2 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 29,177 | 0 | |
Equity method income (loss) | 3,172 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 32,349 | 0 | |
VS Cornerstone Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 3,500 | 0 | |
Equity method income (loss) | (36) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,464 | 0 | |
Aone Mezzanine Opportunity Professional Private | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 8,000 | 0 | |
Equity method income (loss) | 1,580 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 9,580 | 0 | |
KiwoomUnicorn3New Technology Business Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 3,000 | 0 | |
Equity method income (loss) | 1,283 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,283 | 0 | |
Multi Asset The United States Thortons Professional Private1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 44,202 | 0 | |
Equity method income (loss) | (2,762) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 41,440 | 0 | |
Kiwoom Milestone US Real Estate Professional Private20 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 49,791 | 0 | |
Equity method income (loss) | 1,721 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 51,512 | 0 | |
NH-Amundi US Infrastructure Private Fund2 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 24,647 | 0 | |
Equity method income (loss) | 783 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 25,430 | 0 | |
KB Distribution Private Real Estate1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 29,984 | 0 | |
Equity method income (loss) | 714 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 30,698 | 0 | |
SHBNPP Jigae Namsan BTO professional Investment Type Private Special Asset Investment Trust [Infra business] | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 19,968 | 0 | |
Equity method income (loss) | 744 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 20,712 | 0 | |
SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No.2 [Loan-Derivative] | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 28,251 | 0 | |
Equity method income (loss) | 898 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 29,149 | 0 | |
Kakao-Shinhan 1st TNYT Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 6,000 | 0 | |
Equity method income (loss) | (319) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 5,681 | 0 | |
IMM Special Situation 1-2 PRIVATE EQUITY FUND | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 10,000 | 0 | |
Equity method income (loss) | 870 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,870 | 0 | |
Pacific Private Placement Real Estate Fund No.40 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 11,273 | 0 | |
Equity method income (loss) | 374 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 11,647 | 0 | |
Mastern Private Real Estate Loan Fund No.2 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 5,740 | 0 | |
Equity method income (loss) | (48) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 5,692 | 0 | |
LB Scotland Amazon Fulfillment Center Fund 29 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 30,753 | 0 | |
Equity method income (loss) | 429 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 31,182 | 0 | |
JR AMC Hungary Budapest Office Fund 16 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 11,380 | 0 | |
Equity method income (loss) | 824 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 12,204 | 0 | |
IGIS 372 Real Estate Professional Private | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 58,200 | 0 | |
Equity method income (loss) | (1,365) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 56,835 | 0 | |
KoFC-Neoplux R&D-Biz Creation 2013-1 Venture Capital Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 4,058 | 0 | |
Equity method income (loss) | (228) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,830 | 0 | |
Future-Creation Neoplux Venture Capital Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 4,204 | 0 | |
Equity method income (loss) | (408) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,796 | 0 | |
Gyeonggi-Neoplux Superman Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 7,665 | 0 | |
Equity method income (loss) | (1,266) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 6,399 | 0 | |
NewWave 6th Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 6,242 | 0 | |
Equity method income (loss) | (92) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 6,150 | 0 | |
Neoplux No.3 Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 10,825 | 0 | |
Equity method income (loss) | (530) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,295 | 0 | |
PCC Amberstone Private Equity Fund I | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 22,066 | 0 | |
Equity method income (loss) | 414 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 22,480 | 0 | |
KIAMCO POWERLOAN TRUST 4TH | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 43,390 | 0 | |
Equity method income (loss) | 565 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 43,955 | 0 | |
Mastern Opportunity Seeking Real Estate Fund II | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 19,508 | 0 | |
Equity method income (loss) | 291 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 19,799 | 0 | |
AION ELFIS PROFESSIONAL PRIVATE 1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 5,000 | 0 | |
Equity method income (loss) | 528 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 5,528 | 0 | |
T&F 2020 SS Private Equity Fund Specializing in Start-up and Venture Business | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 4,500 | 0 | |
Equity method income (loss) | (47) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,453 | 0 | |
Neoplux Market-Frontier Secondary Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 10,974 | 0 | |
Equity method income (loss) | 571 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 11,545 | 0 | |
Synergy Green New Deal 1st New Technology Business Investment Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 10,000 | 0 | |
Equity method income (loss) | 8 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 10,008 | 0 | |
KAIM Real-estate Private Investment Trust 20 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 5,000 | 0 | |
Equity method income (loss) | 98 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 5,098 | 0 | |
KIAMCO Vietnam Solar Special Asset Private Investment Trust | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 8,150 | 0 | |
Equity method income (loss) | (202) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 7,948 | 0 | |
CSQUARE SNIPER PROFESSIONAL PRIVATE 10 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 3,125 | 0 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 3,125 | 0 | |
IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-1 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 44,780 | 0 | |
Equity method income (loss) | (9) | 0 | |
Change in other comprehensive income (loss) | (177) | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 44,594 | 0 | |
IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-2 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 44,780 | 0 | |
Equity method income (loss) | (9) | 0 | |
Change in other comprehensive income (loss) | (177) | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 44,594 | 0 | |
Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 16,000 | 0 | |
Equity method income (loss) | (145) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 15,855 | 0 | |
IGIS Professional Investors Private Investment Real Estate Investment LLC No.395 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 30,000 | 0 | |
Equity method income (loss) | (356) | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 29,644 | 0 | |
SHBNPP Green New Deal Energy Professional Investment Type Private Special Asset Investment Trust No.2 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 21,142 | 0 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 21,142 | 0 | |
Eum Private Equity Fund No.7 | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 7,872 | 0 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 7,872 | 0 | |
Kiwoom Private Equity Ant-Man Startup Venture Specialized Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 5,034 | 0 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 5,034 | 0 | |
Kiwoom Hero No.4 Private Equity Fund | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 4,707 | 0 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 4,707 | 0 | |
Vogo Canister Professional Trust Private Fund I | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 0 | 0 | |
Investment and Dividend | 43,975 | 0 | |
Equity method income (loss) | 0 | 0 | |
Change in other comprehensive income (loss) | 0 | 0 | |
Impairment loss | 0 | 0 | |
Investments in associates | 43,975 | 0 | |
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 | ||
Others | |||
Changes in investments in associates [Line Items] | |||
Investments in associates at beginning of period | 85,517 | ||
Investment and Dividend | 25,966 | ||
Equity method income (loss) | 19,814 | ||
Change in other comprehensive income (loss) | (5) | ||
Impairment loss | 0 | ||
Investments in associates | ₩ 131,292 |
Condensed statement of financia
Condensed statement of financial position and comprehensive income information of associates (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | ₩ 605,234,104 | ₩ 552,419,581 | |
Liabilities | 558,877,246 | 510,489,200 | |
Net profit (loss) | 3,498,076 | 3,642,384 | ₩ 3,198,265 |
Other comprehensive income | (173,844) | 565,910 | 51,292 |
Total comprehensive income | 3,324,232 | 4,208,294 | ₩ 3,249,557 |
Associates | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 12,482,512 | 8,662,468 | |
Liabilities | 4,900,566 | 4,048,306 | |
Operating revenue | 1,291,047 | 543,587 | |
Net profit (loss) | 369,387 | 155,224 | |
Other comprehensive income | (7,213) | 23,358 | |
Total comprehensive income | 362,174 | 178,582 | |
BNP Paribas Cardif Life Insurance | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 3,526,148 | 3,896,875 | |
Liabilities | 3,188,562 | 3,545,682 | |
Operating revenue | 38,669 | 37,067 | |
Net profit (loss) | (6,555) | (3,919) | |
Other comprehensive income | (7,052) | 24,402 | |
Total comprehensive income | (13,607) | 20,483 | |
Songrim Partners | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 1,003 | 0 | |
Liabilities | 1,065 | 0 | |
Operating revenue | 548 | 0 | |
Net profit (loss) | 0 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 0 | |
Neoplux Technology Valuation Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 49,890 | |
Liabilities | 0 | 738 | |
Operating revenue | 0 | 3,953 | |
Net profit (loss) | 0 | (2,078) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | (2,078) | |
Partners 4th Growth Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 48,678 | 60,775 | |
Liabilities | 846 | 1,106 | |
Operating revenue | 7,231 | 14 | |
Net profit (loss) | 6,059 | (1,904) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 6,059 | (1,904) | |
KTB Newlake Global Healthcare PEF | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 31,005 | 37,187 | |
Liabilities | 225 | 151 | |
Operating revenue | 598 | 387 | |
Net profit (loss) | 244 | (349) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 244 | (349) | |
DAEKWANG SEMICONDUCTOR CO., LTD. | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 23,682 | 23,507 | |
Liabilities | 6,339 | 7,328 | |
Operating revenue | 3,836 | 1,248 | |
Net profit (loss) | 1,163 | 248 | |
Other comprehensive income | 0 | 9 | |
Total comprehensive income | 1,163 | 257 | |
Shinhan-Neoplux Energy Newbiz Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 44,615 | 33,791 | |
Liabilities | 25 | 18 | |
Operating revenue | 4,221 | 26 | |
Net profit (loss) | 1,749 | (1,259) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,749 | (1,259) | |
Shinhan-Albatross Tech Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 27,685 | 17,681 | |
Liabilities | 385 | 182 | |
Operating revenue | 982 | 1,263 | |
Net profit (loss) | 594 | 551 | |
Other comprehensive income | 0 | (917) | |
Total comprehensive income | 594 | (366) | |
KCLAVIS Meister Fund No.17 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 4,689 | |
Liabilities | 0 | 96 | |
Operating revenue | 0 | 425 | |
Net profit (loss) | 0 | (322) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | (322) | |
Plutus-SG Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 16,006 | |
Liabilities | 0 | 138 | |
Operating revenue | 0 | 700 | |
Net profit (loss) | 0 | 419 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 419 | |
Eum Private Equity Fund No.3 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 20 | 17,243 | |
Liabilities | 4 | 27 | |
Operating revenue | 13,445 | 6,305 | |
Net profit (loss) | 9,875 | 5,604 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 9,875 | 5,604 | |
KTB Confidence Private Placement | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 19,369 | |
Liabilities | 0 | 64 | |
Operating revenue | 0 | 7,328 | |
Net profit (loss) | 0 | 3,122 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 3,122 | |
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 | 1 | 17,821 | |
Liabilities | 1 | 1 | |
Operating revenue | 89 | 1,280 | |
Net profit (loss) | 89 | 377 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 89 | 377 | |
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 | 2 | 44,228 | |
Liabilities | 2 | 2 | |
Operating revenue | 363 | 3,445 | |
Net profit (loss) | 361 | 1,217 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 361 | 1,217 | |
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 | 43,540 | 49,683 | |
Liabilities | 28 | 33 | |
Operating revenue | 6,361 | 4,198 | |
Net profit (loss) | 2,359 | 1,391 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,359 | 1,391 | |
Shinhan-Midas Donga Secondary Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 9,504 | 6,973 | |
Liabilities | 0 | 1 | |
Operating revenue | 365 | 88 | |
Net profit (loss) | 233 | (651) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 233 | (651) | |
ShinHan - Soo Young Entrepreneur Investment Fund No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 41,532 | 18,963 | |
Liabilities | 0 | 9 | |
Operating revenue | 16,561 | 1,656 | |
Net profit (loss) | 16,349 | 113 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 16,349 | 113 | |
Synergy-Shinhan Mezzanine New Technology Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 8,266 | |
Liabilities | 0 | 51 | |
Operating revenue | 0 | 834 | |
Net profit (loss) | 0 | 535 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 535 | |
Shinhan Praxis K-Growth Global Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 52,890 | 54,786 | |
Liabilities | 183 | 185 | |
Operating revenue | 201 | 27,588 | |
Net profit (loss) | (2,306) | 13,361 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (2,306) | 13,361 | |
Credian Healthcare Private Equity Fund II | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 17,141 | 7,001 | |
Liabilities | 15 | 24 | |
Operating revenue | 25,926 | 1,542 | |
Net profit (loss) | 24,638 | 1,031 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 24,638 | 1,031 | |
Kiwoom Milestone Professional Private Real Estate Trust 19 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 58,393 | 59,559 | |
Liabilities | 38,558 | 38,744 | |
Operating revenue | 2,772 | 3,100 | |
Net profit (loss) | (449) | 470 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (449) | 470 | |
AIP EUROGREEN Private Real Estate Investment Trust No.3 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 98,866 | 98,221 | |
Liabilities | 86 | 86 | |
Operating revenue | 6,893 | 18,362 | |
Net profit (loss) | 6,231 | 7,462 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 6,231 | 7,462 | |
Hanhwa US Equity Strategy Private Real Estate Fund No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 5,798 | 59,652 | |
Liabilities | 721 | 1,750 | |
Operating revenue | 32,667 | 14,838 | |
Net profit (loss) | 7,180 | 3,742 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 7,180 | 3,742 | |
Shinhan Global Healthcare Fund 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 55 | 73,388 | |
Liabilities | 2,104 | 701 | |
Operating revenue | 1,034 | 5,480 | |
Net profit (loss) | (74,736) | (1,722) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (74,736) | (1,722) | |
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 | 48,605 | 50,468 | |
Liabilities | 45 | 66 | |
Operating revenue | 23,547 | 15,476 | |
Net profit (loss) | 2,251 | 2,487 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,251 | 2,487 | |
IBK AONE convertible 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 12,861 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 1,515 | |
Net profit (loss) | 0 | 410 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 410 | |
Rico synergy collabo Multi-Mezzanine 3 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 6,433 | |
Liabilities | 0 | 2 | |
Operating revenue | 0 | 1,296 | |
Net profit (loss) | 0 | 856 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 856 | |
KB NA Hickory Private Special Asset Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 93,236 | 96,289 | |
Liabilities | 69 | 476 | |
Operating revenue | 13,464 | 16,132 | |
Net profit (loss) | 4,312 | 2,489 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 4,312 | 2,489 | |
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 | 46,239 | 46,742 | |
Liabilities | 3,948 | 2,304 | |
Operating revenue | 4,920 | 9,328 | |
Net profit (loss) | 877 | 5,462 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 877 | 5,462 | |
Shinhan-Stonebridge Petro PEF | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 1,388 | |
Liabilities | 0 | 1,350 | |
Operating revenue | 0 | 52,928 | |
Net profit (loss) | 0 | 49,878 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 49,878 | |
BNP Paribas Cardif General Insurance | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 85,278 | 43,064 | |
Liabilities | 33,063 | 21,936 | |
Operating revenue | 23,632 | 17,613 | |
Net profit (loss) | (7,972) | (12,962) | |
Other comprehensive income | (161) | (136) | |
Total comprehensive income | (8,133) | (13,098) | |
Axis Global Growth New Technology Investment Association | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 10,064 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 1 | |
Net profit (loss) | 0 | (244) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | (244) | |
Polaris No7 Start up and Venture Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 8,113 | |
Liabilities | 0 | 52 | |
Operating revenue | 0 | 1,037 | |
Net profit (loss) | 0 | 928 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 928 | |
Hermes Private Investment Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 20,919 | 21,954 | |
Liabilities | 8 | 95 | |
Operating revenue | 11 | 45 | |
Net profit (loss) | (948) | (2,366) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (948) | (2,366) | |
Shinhan AIM FoF Fund 1a | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 35,060 | 28,987 | |
Liabilities | 20 | 20 | |
Operating revenue | 4,378 | 5,556 | |
Net profit (loss) | 777 | 2,111 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 777 | 2,111 | |
SHC ULMUS Fund No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 10,706 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 1,073 | |
Net profit (loss) | 0 | 881 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 881 | |
Shinhan-Nvestor Liquidity Solution Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 18,032 | 19,524 | |
Liabilities | 0 | 0 | |
Operating revenue | 2,704 | 209 | |
Net profit (loss) | 2,537 | (2,101) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,537 | (2,101) | |
IGIS Global Credit Fund 150-1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 29,153 | 38,912 | |
Liabilities | 24 | 38 | |
Operating revenue | 10,076 | 2,674 | |
Net profit (loss) | 6,263 | 166 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 6,263 | 166 | |
GX SHINHAN INTERVEST 1st Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 131,237 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 6,689 | |
Net profit (loss) | 0 | 5,283 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 5,283 | |
Soo Commerce Platform Growth Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 4,661 | 25,765 | |
Liabilities | 3 | 3 | |
Operating revenue | 13,172 | 36 | |
Net profit (loss) | 13,314 | (140) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 13,314 | (140) | |
Partner One Value up I Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 42,205 | 42,602 | |
Liabilities | 0 | 0 | |
Operating revenue | 457 | 457 | |
Net profit (loss) | (329) | (173) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (329) | (173) | |
Genesis No.1 Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 382,353 | 224,322 | |
Liabilities | 31,024 | 7 | |
Operating revenue | 158,070 | 23,180 | |
Net profit (loss) | 125,312 | 21,872 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 125,312 | 21,872 | |
GMB ICT New Technology Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 29,359 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 2 | |
Net profit (loss) | 0 | (298) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | (298) | |
Korea Omega Project Fund III | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 15,141 | 12,818 | |
Liabilities | 0 | 0 | |
Operating revenue | 2,383 | 4,432 | |
Net profit (loss) | 2,323 | 4,351 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,323 | 4,351 | |
Soo Delivery Platform Growth Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 13,563 | 29,743 | |
Liabilities | 3 | 3 | |
Operating revenue | 11,300 | 675 | |
Net profit (loss) | 10,249 | 367 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 10,249 | 367 | |
Genesis North America Power Company No.1 PEF | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 48,221 | 46,041 | |
Liabilities | 5,727 | 281 | |
Operating revenue | 6,976 | 4,323 | |
Net profit (loss) | 6,449 | 3,756 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 6,449 | 3,756 | |
Hyungje art printing | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 866 | ||
Liabilities | 1,130 | ||
Operating revenue | 253 | ||
Net profit (loss) | 0 | ||
Other comprehensive income | 0 | ||
Total comprehensive income | 0 | ||
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 | 46,514 | 89,450 | |
Liabilities | 1,164 | 687 | |
Operating revenue | 11,240 | 4,262 | |
Net profit (loss) | 2,846 | 1,546 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,846 | 1,546 | |
Shinhan-Rhinos 1 Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 11,561 | 13,474 | |
Liabilities | 1 | 0 | |
Operating revenue | 2,784 | 143 | |
Net profit (loss) | 2,554 | 129 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,554 | 129 | |
Pacific Private Investment Trust No.20 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 13,805 | 18,764 | |
Liabilities | 11 | 15 | |
Operating revenue | 974 | 1,247 | |
Net profit (loss) | 974 | 1,187 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 974 | 1,187 | |
Susung Mezzanine project P1 Private Investment Trust | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 3,220 | 10,023 | |
Liabilities | 0 | 351 | |
Operating revenue | 3,412 | 22 | |
Net profit (loss) | (373) | (91) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (373) | (91) | |
Korea Finance Security | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 37,522 | 32,079 | |
Liabilities | 17,032 | 10,386 | |
Operating revenue | 118,906 | 64,964 | |
Net profit (loss) | (1,174) | (1,297) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (1,174) | (1,297) | |
Multimedia Tech Co.Ltd | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 593 | ||
Liabilities | 662 | ||
Operating revenue | 555 | ||
Net profit (loss) | (158) | ||
Other comprehensive income | 0 | ||
Total comprehensive income | (158) | ||
MIEL CO.,LTD | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 474 | ||
Liabilities | 559 | ||
Operating revenue | 585 | ||
Net profit (loss) | (169) | ||
Other comprehensive income | 0 | ||
Total comprehensive income | (169) | ||
AIP Transportation Specialized Privately Placed Fund Trust #1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 92,454 | 94,437 | |
Liabilities | 101 | 6,042 | |
Operating revenue | 17,221 | 12,473 | |
Net profit (loss) | 132 | 1,242 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 132 | 1,242 | |
Lime Neptune Professional Private 6 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 10,166 | ||
Liabilities | 41 | ||
Operating revenue | 460 | ||
Net profit (loss) | 125 | ||
Other comprehensive income | 0 | ||
Total comprehensive income | 125 | ||
DB Epic Convertiblebond Private Trust No.2 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 11,382 | ||
Liabilities | 34 | ||
Operating revenue | 1,169 | ||
Net profit (loss) | 1,021 | ||
Other comprehensive income | 0 | ||
Total comprehensive income | 1,021 | ||
PCC S/W 2nd Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 10,154 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 151 | |
Net profit (loss) | 0 | 4 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 4 | |
E&Healthcare Investment Fund No.6 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 72,023 | 38,181 | |
Liabilities | 0 | 2 | |
Operating revenue | 36,332 | 4,405 | |
Net profit (loss) | 33,844 | 3,664 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 33,844 | 3,664 | |
One Shinhan Global Fund 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 22,244 | 22,244 | |
Liabilities | 0 | 0 | |
Operating revenue | 92 | 92 | |
Net profit (loss) | (406) | (406) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (406) | (406) | |
Kiwoom-Shinhan Innovation Fund I | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 32,096 | 14,719 | |
Liabilities | 158 | 151 | |
Operating revenue | 2,984 | 13 | |
Net profit (loss) | 2,371 | (432) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,371 | (432) | |
Daishin-K&T New Technology Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 55,501 | 55,686 | |
Liabilities | 33,101 | 33,103 | |
Operating revenue | 64 | 1,292 | |
Net profit (loss) | (183) | 183 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (183) | 183 | |
Midas Asset Global CRE Debt Private Fund No.6 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 115,240 | 118,438 | |
Liabilities | 118 | 70 | |
Operating revenue | 7,041 | 3,907 | |
Net profit (loss) | 5,153 | 2,677 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 5,153 | 2,677 | |
Richmond Private Investment Trust No.82 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 49,961 | 50,079 | |
Liabilities | 24,879 | 24,879 | |
Operating revenue | 1,658 | 1,155 | |
Net profit (loss) | 1,306 | 919 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,306 | 919 | |
Tiger Alternative Real Estate Professional Private5 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 38,064 | 40,792 | |
Liabilities | 86 | 103 | |
Operating revenue | 7,827 | 1,628 | |
Net profit (loss) | 113 | (116) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 113 | (116) | |
Samchully Midstream Private Placement Special Asset Fund 5-4 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 67,177 | 71,680 | |
Liabilities | 36 | 55 | |
Operating revenue | 8,012 | 14,423 | |
Net profit (loss) | (2,228) | 3,015 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (2,228) | 3,015 | |
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 | 327,973 | 269,203 | |
Liabilities | 56 | 48 | |
Operating revenue | 13,607 | 8,854 | |
Net profit (loss) | 12,656 | 8,289 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 12,656 | 8,289 | |
AUCTUS FITRIN Corporate Recovery Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 67,222 | |
Liabilities | 0 | 218 | |
Operating revenue | 0 | 1,187 | |
Net profit (loss) | 0 | 449 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 449 | |
NH-Amundi Global Infrastructure Trust 14 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 62,729 | 61,696 | |
Liabilities | 1 | 39 | |
Operating revenue | 7,216 | 7,404 | |
Net profit (loss) | 2,606 | 2,427 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,606 | 2,427 | |
Pacific Private Real Estate Fund Investment Trust No.30 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 39,779 | |
Liabilities | 0 | 270 | |
Operating revenue | 0 | 1,817 | |
Net profit (loss) | 0 | 1,547 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 1,547 | |
Jarvis Memorial Private Investment Trust 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 10,147 | 10,279 | |
Liabilities | 4 | 12 | |
Operating revenue | 651 | 293 | |
Net profit (loss) | 647 | 281 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 647 | 281 | |
Mastern Private Investment Trust 68 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 18,620 | 18,600 | |
Liabilities | 0 | 2 | |
Operating revenue | 878 | 533 | |
Net profit (loss) | 877 | 437 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 877 | 437 | |
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 | 59,422 | 7,336 | |
Liabilities | 20 | 7 | |
Operating revenue | 6,374 | 214 | |
Net profit (loss) | 1,224 | (61) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,224 | (61) | |
Milestone Private Real Estate Fund 3 (Derivative Type) | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 57,792 | 53,610 | |
Liabilities | 2 | 3 | |
Operating revenue | 7,083 | 603 | |
Net profit (loss) | 6,797 | 532 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 6,797 | 532 | |
IGIS Private Real Estate Investment Trust 286 (2 class) | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 74,406 | 75,372 | |
Liabilities | 53,065 | 51,870 | |
Operating revenue | 5,298 | 2,838 | |
Net profit (loss) | 696 | (798) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 696 | (798) | |
Nomura-Rifa Private Real Estate Investment Trust 31 (2 class) | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 98,291 | 99,976 | |
Liabilities | 71,442 | 71,507 | |
Operating revenue | 7,584 | 2,383 | |
Net profit (loss) | 1,356 | (331) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,356 | (331) | |
Lime Pricing Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 32,231 | |
Liabilities | 0 | 118 | |
Operating revenue | 0 | 10 | |
Net profit (loss) | 0 | (388) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | (388) | |
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 | 62,682 | 197,536 | |
Liabilities | 45 | 119 | |
Operating revenue | 6,511 | 12,963 | |
Net profit (loss) | 6,169 | 12,296 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 6,169 | 12,296 | |
DS Solid.II Hedge Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 15,042 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 4 | |
Net profit (loss) | 0 | (605) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | (605) | |
Hana Semiconductor New Technology Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 111,661 | 52,905 | |
Liabilities | 12,346 | 0 | |
Operating revenue | 70,303 | 73 | |
Net profit (loss) | 56,926 | (595) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 56,926 | (595) | |
J&Magnet Startup Venture Specialized Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 24,381 | 24,513 | |
Liabilities | 50 | 0 | |
Operating revenue | 8,291 | 0 | |
Net profit (loss) | 8,638 | (87) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 8,638 | (87) | |
Cape IT Fund No.3 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 32,448 | 30,333 | |
Liabilities | 75 | 35 | |
Operating revenue | 4,145 | 0 | |
Net profit (loss) | 3,837 | (101) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 3,837 | (101) | |
FuturePlay-Shinhan TechInnovation Fund 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 8,621 | ||
Liabilities | 31 | ||
Operating revenue | 5 | ||
Net profit (loss) | (469) | ||
Other comprehensive income | 0 | ||
Total comprehensive income | (469) | ||
Stonebridge Corporate 1st Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 7,342 | ||
Liabilities | 1 | ||
Operating revenue | 679 | ||
Net profit (loss) | 584 | ||
Other comprehensive income | 0 | ||
Total comprehensive income | 584 | ||
Vogo Realty Partners Private Real Estate Fund V | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 50,139 | 47,992 | |
Liabilities | 99 | 34 | |
Operating revenue | 8,137 | 281 | |
Net profit (loss) | 4,701 | (1,084) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 4,701 | (1,084) | |
Korea Credit Bureau | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 114,571 | 95,764 | |
Liabilities | 37,062 | 20,075 | |
Operating revenue | 93,275 | 66,314 | |
Net profit (loss) | 3,992 | 10,604 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 3,992 | 10,604 | |
Goduck Gangil1 PFV Co., Ltd | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 334,349 | 0 | |
Liabilities | 348,276 | 0 | |
Operating revenue | 0 | ||
Net profit (loss) | (10,065) | ||
Other comprehensive income | 0 | ||
Total comprehensive income | (10,065) | ||
SBC PFV Co., Ltd | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 119,994 | 120,000 | |
Liabilities | 7,199 | 40,000 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (7,169) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (7,169) | 0 | |
Sprott Global Renewable Private Equity Fund II | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 82,721 | |
Liabilities | 0 | 3 | |
Operating revenue | 0 | 1,416 | |
Net profit (loss) | 0 | (4,833) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | (4,833) | |
NH-amundi global infra private fund 16 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 87,908 | 100,513 | |
Liabilities | 230 | 4,197 | |
Operating revenue | 20,499 | 4,128 | |
Net profit (loss) | (6,215) | (2,744) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (6,215) | (2,744) | |
IMM Global Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 367,570 | 90,870 | |
Liabilities | 1,368 | 63 | |
Operating revenue | 17,222 | 0 | |
Net profit (loss) | 2,995 | (63) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,995 | (63) | |
HANA Alternative Estate Professional Private122 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 39,449 | 34,897 | |
Liabilities | 38 | 45 | |
Operating revenue | 6,836 | 1,561 | |
Net profit (loss) | 5,487 | (3,035) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 5,487 | (3,035) | |
Hanwha-Incus Plus New Technology Fund No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 25,860 | 12,900 | |
Liabilities | 0 | 1 | |
Operating revenue | 13,169 | 0 | |
Net profit (loss) | 12,961 | (1) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 12,961 | (1) | |
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 | 198,644 | 127,339 | |
Liabilities | 87,218 | 15,732 | |
Operating revenue | 4,479 | 0 | |
Net profit (loss) | 3,329 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 3,329 | 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 | 395,815 | 402,633 | |
Liabilities | 0 | 141,200 | |
Operating revenue | 14,737 | 10,036 | |
Net profit (loss) | 11,688 | 7,256 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 11,688 | 7,256 | |
PSA EMP Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 33,953 | 34,535 | |
Liabilities | 97 | 285 | |
Operating revenue | 8 | 1 | |
Net profit (loss) | (393) | (250) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (393) | (250) | |
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 | 57,026 | 57,088 | |
Liabilities | 784 | 728 | |
Operating revenue | 13,342 | 2,735 | |
Net profit (loss) | 339 | 2,198 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 339 | 2,198 | |
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 | 0 | 22,926 | |
Liabilities | 0 | 641 | |
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 | 0 | 23,865 | |
Liabilities | 0 | 1,329 | |
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 | 11,827 | 10,305 | |
Liabilities | 12 | 10 | |
Operating revenue | 1,414 | 58 | |
Net profit (loss) | 1,292 | (5) | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,292 | (5) | |
VISION US Muni US Local Debt Opportunities Professional Private1(S) | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 0 | 39,175 | |
Liabilities | 0 | 80 | |
Operating revenue | 0 | 1,440 | |
Net profit (loss) | 0 | 1,088 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 1,088 | |
UI Venture Fund 7th | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 13,466 | 0 | |
Liabilities | 21 | 0 | |
Operating revenue | 2,044 | 0 | |
Net profit (loss) | 1,145 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,145 | 0 | |
Sparklabs-Shinhan Opportunity Fund 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 9,760 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (340) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (340) | 0 | |
BNW Tech-Innovation Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 20,119 | 0 | |
Liabilities | 213 | 0 | |
Operating revenue | 45 | 0 | |
Net profit (loss) | (194) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (194) | 0 | |
IGIS Real-estate Private Investment Trust No.33 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 88,319 | 0 | |
Liabilities | 53,812 | 0 | |
Operating revenue | 1,570 | 0 | |
Net profit (loss) | 378 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 378 | 0 | |
Findvalue PreIPO 6th Professional Investment Type Private Investment Trust | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 9,505 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 5 | 0 | |
Net profit (loss) | 5 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 5 | 0 | |
WWG Global Real Estate Investment Trust no.4 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 60,083 | 0 | |
Liabilities | 12 | 0 | |
Operating revenue | 8,431 | 0 | |
Net profit (loss) | 2,971 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,971 | 0 | |
Fidelis Global Private Real Estate Trust No.2 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 24,901 | 0 | |
Liabilities | 2 | 0 | |
Operating revenue | 1,902 | 0 | |
Net profit (loss) | 1,214 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,214 | 0 | |
IGIS PRIVATE REAL ESTATE TRUST NO.331 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 57,655 | 0 | |
Liabilities | 45,417 | 0 | |
Operating revenue | 20 | 0 | |
Net profit (loss) | (388) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (388) | 0 | |
AIP EURO PRIVATE REAL ESTATE TRUST No. 12 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 173,538 | 0 | |
Liabilities | 783 | 0 | |
Operating revenue | 40,882 | 0 | |
Net profit (loss) | 13,425 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 13,425 | 0 | |
Pebblestone CGV Private Real Estate Trust No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 63,907 | 0 | |
Liabilities | 36,405 | 0 | |
Operating revenue | 7,451 | 0 | |
Net profit (loss) | 1,141 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,141 | 0 | |
Shinhan AIM Real Estate Fund No.2 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 75,018 | 0 | |
Liabilities | 138 | 0 | |
Operating revenue | 7,611 | 0 | |
Net profit (loss) | (45,741) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (45,741) | 0 | |
Shinhan AIM Real Estate Fund No.1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 223,471 | 0 | |
Liabilities | 28 | 0 | |
Operating revenue | 22,855 | 0 | |
Net profit (loss) | 7,284 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 7,284 | 0 | |
SHBNPP Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust [Infra business] | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 149,686 | 0 | |
Liabilities | 75 | 0 | |
Operating revenue | 3,342 | 0 | |
Net profit (loss) | 3,117 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 3,117 | 0 | |
SHBNPP Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust [Infra business] | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 71,774 | 0 | |
Liabilities | 169 | 0 | |
Operating revenue | 4,948 | 0 | |
Net profit (loss) | (3,773) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (3,773) | 0 | |
SHBNPP Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2(USD) | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 9,380 | 0 | |
Liabilities | 12 | 0 | |
Operating revenue | 576 | 0 | |
Net profit (loss) | (814) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (814) | 0 | |
SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No. 1 [Equity securities-Derivative] | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 61,389 | 0 | |
Liabilities | 45,239 | 0 | |
Operating revenue | 47,240 | 0 | |
Net profit (loss) | (46) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (46) | 0 | |
Korea Omega-Shinhan Project Fund I | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 11,861 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (139) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (139) | 0 | |
New Green Shinhan Mezzanine Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 12,538 | 0 | |
Liabilities | 1 | 0 | |
Operating revenue | 2,387 | 0 | |
Net profit (loss) | 2,337 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,337 | 0 | |
KORAMKO-Daum Professional Private Investment Trust No.12 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 22,740 | 0 | |
Liabilities | 157 | 0 | |
Operating revenue | 1,949 | 0 | |
Net profit (loss) | 1,792 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,792 | 0 | |
Samsung SRA Real Estate Professional Private 45[FoFs] | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 42,895 | 0 | |
Liabilities | 230 | 0 | |
Operating revenue | 4,155 | 0 | |
Net profit (loss) | (355) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (355) | 0 | |
IBK Global New Renewable Energy Special Asset Professional Private2 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 116,284 | 0 | |
Liabilities | 4,679 | 0 | |
Operating revenue | 19,514 | 0 | |
Net profit (loss) | 10,943 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 10,943 | 0 | |
VS Cornerstone Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 8,413 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 2 | 0 | |
Net profit (loss) | (87) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (87) | 0 | |
Aone Mezzanine Opportunity Professional Private | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 14,530 | 0 | |
Liabilities | 40 | 0 | |
Operating revenue | 2,507 | 0 | |
Net profit (loss) | 2,390 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,390 | 0 | |
KiwoomUnicorn3New Technology Business Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 20,132 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 6,112 | 0 | |
Net profit (loss) | 6,031 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 6,031 | 0 | |
Multi Asset The United States Thortons Professional Private1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 165,775 | 0 | |
Liabilities | 15 | 0 | |
Operating revenue | 2,111 | 0 | |
Net profit (loss) | 671 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 671 | 0 | |
Kiwoom Milestone US Real Estate Professional Private20 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 68,591 | 0 | |
Liabilities | 157 | 0 | |
Operating revenue | 3,508 | 0 | |
Net profit (loss) | 2,286 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,286 | 0 | |
NH-Amundi US Infrastructure Private Fund2 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 99,409 | 0 | |
Liabilities | 1,248 | 0 | |
Operating revenue | 16,758 | 0 | |
Net profit (loss) | 3,025 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 3,025 | 0 | |
KB Distribution Private Real Estate1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 50,013 | 0 | |
Liabilities | 500 | 0 | |
Operating revenue | 1,174 | 0 | |
Net profit (loss) | 1,151 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,151 | 0 | |
SHBNPP Jigae Namsan BTO professional Investment Type Private Special Asset Investment Trust [Infra business] | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 71,647 | 0 | |
Liabilities | 54 | 0 | |
Operating revenue | 2,677 | 0 | |
Net profit (loss) | 2,571 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,571 | 0 | |
SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No.2 [Loan-Derivative] | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 97,412 | 0 | |
Liabilities | 248 | 0 | |
Operating revenue | 5,176 | 0 | |
Net profit (loss) | 2,993 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,993 | 0 | |
Kakao-Shinhan 1st TNYT Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 12,014 | 0 | |
Liabilities | 331 | 0 | |
Operating revenue | 2 | 0 | |
Net profit (loss) | (657) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (657) | 0 | |
IMM Special Situation 1-2 PRIVATE EQUITY FUND | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 54,328 | 0 | |
Liabilities | 33 | 0 | |
Operating revenue | 4,378 | 0 | |
Net profit (loss) | 4,344 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 4,344 | 0 | |
Pacific Private Placement Real Estate Fund No.40 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 145,123 | 0 | |
Liabilities | 98,029 | 0 | |
Operating revenue | 2,554 | 0 | |
Net profit (loss) | 1,511 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,511 | 0 | |
Mastern Private Real Estate Loan Fund No.2 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 17,156 | 0 | |
Liabilities | 201 | 0 | |
Operating revenue | 98 | 0 | |
Net profit (loss) | (143) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (143) | 0 | |
LB Scotland Amazon Fulfillment Center Fund 29 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 44,483 | 0 | |
Liabilities | 28 | 0 | |
Operating revenue | 1,975 | 0 | |
Net profit (loss) | 612 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 612 | 0 | |
JR AMC Hungary Budapest Office Fund 16 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 38,581 | 0 | |
Liabilities | 1,112 | 0 | |
Operating revenue | 2,531 | 0 | |
Net profit (loss) | 2,531 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,531 | 0 | |
IGIS 372 Real Estate Professional Private | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 628,769 | 0 | |
Liabilities | 428,577 | 0 | |
Operating revenue | 10,221 | 0 | |
Net profit (loss) | (4,808) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (4,808) | 0 | |
KoFC-Neoplux R&D-Biz Creation 2013-1 Venture Capital Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 18,460 | 0 | |
Liabilities | 2,824 | 0 | |
Operating revenue | 1,673 | 0 | |
Net profit (loss) | 240 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 240 | 0 | |
Future-Creation Neoplux Venture Capital Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 27,271 | 0 | |
Liabilities | 4,137 | 0 | |
Operating revenue | 7,270 | 0 | |
Net profit (loss) | 4,300 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 4,300 | 0 | |
Gyeonggi-Neoplux Superman Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 31,898 | 0 | |
Liabilities | 186 | 0 | |
Operating revenue | 533 | 0 | |
Net profit (loss) | (212) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (212) | 0 | |
NewWave 6th Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 20,501 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 2,757 | 0 | |
Net profit (loss) | 1,528 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,528 | 0 | |
Neoplux No.3 Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 103,712 | 0 | |
Liabilities | 756 | 0 | |
Operating revenue | 9,114 | 0 | |
Net profit (loss) | (7,108) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (7,108) | 0 | |
PCC Amberstone Private Equity Fund I | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 104,930 | 0 | |
Liabilities | 1,194 | 0 | |
Operating revenue | 12,280 | 0 | |
Net profit (loss) | 5,501 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 5,501 | 0 | |
KIAMCO POWERLOAN TRUST 4TH | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 92,817 | 0 | |
Liabilities | 23 | 0 | |
Operating revenue | 815 | 0 | |
Net profit (loss) | 1,193 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,193 | 0 | |
Mastern Opportunity Seeking Real Estate Fund II | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 99,087 | 0 | |
Liabilities | 93 | 0 | |
Operating revenue | 1,391 | 0 | |
Net profit (loss) | 1,453 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,453 | 0 | |
AION ELFIS PROFESSIONAL PRIVATE 1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 27,672 | 0 | |
Liabilities | 30 | 0 | |
Operating revenue | 2,710 | 0 | |
Net profit (loss) | 2,642 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 2,642 | 0 | |
T&F 2020 SS Private Equity Fund Specializing in Start-up and Venture Business | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 15,074 | 0 | |
Liabilities | 73 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (160) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (160) | 0 | |
Neoplux Market-Frontier Secondary Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 56,363 | 0 | |
Liabilities | 1,636 | 0 | |
Operating revenue | 1,359 | 0 | |
Net profit (loss) | (339) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (339) | 0 | |
Synergy Green New Deal 1st New Technology Business Investment Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 35,539 | 0 | |
Liabilities | 12 | 0 | |
Operating revenue | 39 | 0 | |
Net profit (loss) | 27 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 27 | 0 | |
KAIM Real-estate Private Investment Trust 20 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 13,254 | 0 | |
Liabilities | 0 | 0 | |
Operating revenue | 254 | 0 | |
Net profit (loss) | 254 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 254 | 0 | |
KIAMCO Vietnam Solar Special Asset Private Investment Trust | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 15,902 | 0 | |
Liabilities | 6 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (404) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (404) | 0 | |
CSQUARE SNIPER PROFESSIONAL PRIVATE 10 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 5,010 | 0 | |
Liabilities | 10 | 0 | |
Operating revenue | 10 | 0 | |
Net profit (loss) | 0 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 0 | 0 | |
IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-1 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 45,582 | 0 | |
Liabilities | 9 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (9) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (9) | 0 | |
IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-2 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 45,582 | 0 | |
Liabilities | 9 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (9) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (9) | 0 | |
Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 141,811 | 0 | |
Liabilities | 93,336 | 0 | |
Operating revenue | 1 | 0 | |
Net profit (loss) | 1,290 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 1,290 | 0 | |
IGIS Professional Investors Private Investment Real Estate Investment LLC No.395 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 116,853 | 0 | |
Liabilities | 66,459 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | (605) | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | (605) | 0 | |
SHBNPP Green New Deal Energy Professional Investment Type Private Special Asset Investment Trust No.2 | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 70,487 | 0 | |
Liabilities | 14 | 0 | |
Operating revenue | 194 | 0 | |
Net profit (loss) | 180 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 180 | 0 | |
Kiwoom Private Equity Ant-Man Startup Venture Specialized Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 20,174 | 0 | |
Liabilities | 40 | 0 | |
Operating revenue | 4,210 | 0 | |
Net profit (loss) | 4,134 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 4,134 | 0 | |
Kiwoom Hero No.4 Private Equity Fund | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 22,359 | 0 | |
Liabilities | 1 | 0 | |
Operating revenue | 0 | 0 | |
Net profit (loss) | 3,358 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | 3,358 | 0 | |
Vogo Canister Professional Trust Private Fund I | |||
Condensed statement of financial position and comprehensive income information of associates [Line Items] | |||
Assets | 119,968 | 0 | |
Liabilities | 76 | 0 | |
Operating revenue | 17,022 | 0 | |
Net profit (loss) | 4,148 | 0 | |
Other comprehensive income | 0 | 0 | |
Total comprehensive income | ₩ 4,148 | ₩ 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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 8,101,037 | ₩ 4,951,196 | |
Interests in the net assets (A*B) | 2,657,250 | 1,452,541 | |
Intra-group transactions | (32) | (79) | |
Other reconciliations | 550 | 399 | |
Investments in associates | 2,657,768 | 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) | ₩ 337,586 | ₩ 351,193 | |
Proportion of ownership interest in associate (B) | 14.99% | 14.99% | |
Interests in the net assets (A*B) | ₩ 50,632 | ₩ 52,665 | |
Intra-group transactions | (32) | (79) | |
Other reconciliations | 0 | 0 | |
Investments in associates | 50,600 | 52,586 | |
Songrim Partners | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ (62) | ₩ (62) | |
Proportion of ownership interest in associate (B) | 35.34% | 35.34% | |
Interests in the net assets (A*B) | ₩ (22) | ₩ (22) | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 22 | 22 | |
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) | ₩ 0 | ₩ 49,152 | |
Proportion of ownership interest in associate (B) | 0.00% | 33.33% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 16,384 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 16,384 | |
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) | ₩ 47,832 | ₩ 59,669 | |
Proportion of ownership interest in associate (B) | 25.00% | 25.00% | |
Interests in the net assets (A*B) | ₩ 11,958 | ₩ 14,917 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 11,958 | 14,917 | |
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) | ₩ 30,780 | ₩ 37,036 | |
Proportion of ownership interest in associate (B) | 30.00% | 30.00% | |
Interests in the net assets (A*B) | ₩ 9,234 | ₩ 11,110 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 170 | 170 | |
Investments in associates | 9,404 | 11,280 | |
DAEKWANG SEMICONDUCTOR CO., LTD. | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 17,343 | ₩ 16,179 | |
Proportion of ownership interest in associate (B) | 20.94% | 20.94% | |
Interests in the net assets (A*B) | ₩ 3,631 | ₩ 3,388 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,631 | 3,388 | |
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) | ₩ 44,590 | ₩ 33,773 | |
Proportion of ownership interest in associate (B) | 31.66% | 23.33% | |
Interests in the net assets (A*B) | ₩ 14,470 | ₩ 7,880 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 14,470 | 7,880 | |
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) | ₩ 27,300 | ₩ 17,499 | |
Proportion of ownership interest in associate (B) | 49.97% | 50.00% | |
Interests in the net assets (A*B) | ₩ 13,322 | ₩ 8,734 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 13,322 | 8,734 | |
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) | ₩ 0 | ₩ 4,593 | |
Proportion of ownership interest in associate (B) | 0.00% | 26.09% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 1,198 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 1,198 | |
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) | ₩ 0 | ₩ 15,868 | |
Proportion of ownership interest in associate (B) | 0.00% | 26.67% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 4,231 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 4,231 | |
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) | ₩ 16 | ₩ 17,216 | |
Proportion of ownership interest in associate (B) | 20.76% | 20.76% | |
Interests in the net assets (A*B) | ₩ 3 | ₩ 3,574 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3 | 3,574 | |
KTB Confidence Private Placement | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 0 | ₩ 19,305 | |
Proportion of ownership interest in associate (B) | 0.00% | 31.43% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 6,067 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 6,067 | |
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) | ₩ 0 | ₩ 17,820 | |
Proportion of ownership interest in associate (B) | 23.89% | 23.89% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 4,256 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 4,256 | |
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) | ₩ 0 | ₩ 44,226 | |
Proportion of ownership interest in associate (B) | 20.16% | 20.16% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 8,916 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 8,916 | |
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) | ₩ 43,512 | ₩ 49,650 | |
Proportion of ownership interest in associate (B) | 20.00% | 20.00% | |
Interests in the net assets (A*B) | ₩ 8,702 | ₩ 9,930 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 8,702 | 9,930 | |
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) | ₩ 9,504 | ₩ 6,972 | |
Proportion of ownership interest in associate (B) | 50.00% | 50.00% | |
Interests in the net assets (A*B) | ₩ 4,752 | ₩ 3,486 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,752 | 3,486 | |
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) | ₩ 41,532 | ₩ 18,954 | |
Proportion of ownership interest in associate (B) | 24.00% | 24.00% | |
Interests in the net assets (A*B) | ₩ 9,968 | ₩ 4,549 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 9,968 | 4,549 | |
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) | ₩ 0 | ₩ 8,215 | |
Proportion of ownership interest in associate (B) | 0.00% | 47.62% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 3,912 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 3,912 | |
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) | ₩ 52,707 | ₩ 54,601 | |
Proportion of ownership interest in associate (B) | 18.87% | 18.87% | |
Interests in the net assets (A*B) | ₩ 9,945 | ₩ 10,302 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 9,945 | 10,302 | |
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) | ₩ 17,126 | ₩ 6,977 | |
Proportion of ownership interest in associate (B) | 34.07% | 34.07% | |
Interests in the net assets (A*B) | ₩ 5,835 | ₩ 2,377 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 5,835 | 2,377 | |
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) | ₩ 19,835 | ₩ 20,816 | |
Proportion of ownership interest in associate (B) | 50.00% | 50.00% | |
Interests in the net assets (A*B) | ₩ 9,918 | ₩ 10,407 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 9,918 | 10,407 | |
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) | ₩ 98,780 | ₩ 98,135 | |
Proportion of ownership interest in associate (B) | 21.28% | 21.28% | |
Interests in the net assets (A*B) | ₩ 21,021 | ₩ 20,884 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 21,021 | 20,884 | |
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) | ₩ 5,077 | ₩ 57,901 | |
Proportion of ownership interest in associate (B) | 44.84% | 44.84% | |
Interests in the net assets (A*B) | ₩ 2,277 | ₩ 25,964 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 2,277 | 25,964 | |
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) | ₩ (2,049) | ₩ 72,687 | |
Proportion of ownership interest in associate (B) | 4.41% | 4.41% | |
Interests in the net assets (A*B) | ₩ (90) | ₩ 3,209 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 90 | 0 | |
Investments in associates | 0 | 3,209 | |
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) | ₩ 48,560 | ₩ 50,402 | |
Proportion of ownership interest in associate (B) | 33.33% | 33.33% | |
Interests in the net assets (A*B) | ₩ 16,186 | ₩ 16,800 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 16,186 | 16,800 | |
IBK AONE convertible 1 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 0 | ₩ 12,861 | |
Proportion of ownership interest in associate (B) | 0.00% | 47.25% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 6,077 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 6,077 | |
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) | ₩ 0 | ₩ 6,431 | |
Proportion of ownership interest in associate (B) | 0.00% | 50.03% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 3,217 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 3,217 | |
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) | ₩ 93,167 | ₩ 95,813 | |
Proportion of ownership interest in associate (B) | 37.50% | 37.50% | |
Interests in the net assets (A*B) | ₩ 34,938 | ₩ 35,930 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 34,938 | 35,930 | |
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) | ₩ 42,291 | ₩ 44,438 | |
Proportion of ownership interest in associate (B) | 44.02% | 44.02% | |
Interests in the net assets (A*B) | ₩ 18,618 | ₩ 19,562 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 18,618 | 19,562 | |
Shinhan-Stonebridge Petro PEF | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 0 | ₩ 38 | |
Proportion of ownership interest in associate (B) | 0.00% | 1.82% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 1 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 1 | |
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) | ₩ 52,215 | ₩ 21,128 | |
Proportion of ownership interest in associate (B) | 7.46% | 10.00% | |
Interests in the net assets (A*B) | ₩ 3,895 | ₩ 2,113 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,895 | 2,113 | |
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) | ₩ 0 | ₩ 10,064 | |
Proportion of ownership interest in associate (B) | 0.00% | 31.85% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 3,205 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 3,205 | |
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) | ₩ 0 | ₩ 8,061 | |
Proportion of ownership interest in associate (B) | 0.00% | 28.57% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 2,303 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 2,303 | |
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) | ₩ 20,911 | ₩ 21,859 | |
Proportion of ownership interest in associate (B) | 29.17% | 29.17% | |
Interests in the net assets (A*B) | ₩ 6,099 | ₩ 6,376 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 6,099 | 6,376 | |
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) | ₩ 0 | ₩ 10,706 | |
Proportion of ownership interest in associate (B) | 0.00% | 29.41% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 3,149 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 3,149 | |
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) | ₩ 18,032 | ₩ 19,524 | |
Proportion of ownership interest in associate (B) | 24.92% | 24.92% | |
Interests in the net assets (A*B) | ₩ 4,493 | ₩ 4,865 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,493 | 4,865 | |
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) | ₩ 35,040 | ₩ 28,967 | |
Proportion of ownership interest in associate (B) | 25.00% | 25.00% | |
Interests in the net assets (A*B) | ₩ 8,760 | ₩ 7,242 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 8,760 | 7,242 | |
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) | ₩ 29,129 | ₩ 38,874 | |
Proportion of ownership interest in associate (B) | 25.00% | 25.00% | |
Interests in the net assets (A*B) | ₩ 7,282 | ₩ 9,718 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 7,282 | 9,718 | |
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) | ₩ 0 | ₩ 131,237 | |
Proportion of ownership interest in associate (B) | 0.00% | 25.27% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 33,166 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 33,166 | |
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) | ₩ 4,658 | ₩ 25,762 | |
Proportion of ownership interest in associate (B) | 24.62% | 24.62% | |
Interests in the net assets (A*B) | ₩ 1,147 | ₩ 6,343 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 1,147 | 6,343 | |
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) | ₩ 42,205 | ₩ 42,602 | |
Proportion of ownership interest in associate (B) | 27.91% | 27.91% | |
Interests in the net assets (A*B) | ₩ 11,779 | ₩ 11,891 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 11,779 | 11,891 | |
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) | ₩ 351,329 | ₩ 224,315 | |
Proportion of ownership interest in associate (B) | 22.80% | 22.80% | |
Interests in the net assets (A*B) | ₩ 80,113 | ₩ 51,150 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 80,113 | 51,150 | |
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) | ₩ 0 | ₩ 29,359 | |
Proportion of ownership interest in associate (B) | 0.00% | 26.75% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 7,854 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 7,854 | |
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) | ₩ 15,141 | ₩ 12,818 | |
Proportion of ownership interest in associate (B) | 23.53% | 23.53% | |
Interests in the net assets (A*B) | ₩ 3,563 | ₩ 3,016 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,563 | 3,016 | |
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) | ₩ 13,560 | ₩ 29,740 | |
Proportion of ownership interest in associate (B) | 30.00% | 30.00% | |
Interests in the net assets (A*B) | ₩ 4,068 | ₩ 8,922 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,068 | 8,922 | |
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) | ₩ 42,494 | ₩ 45,759 | |
Proportion of ownership interest in associate (B) | 39.96% | 39.92% | |
Interests in the net assets (A*B) | ₩ 16,983 | ₩ 18,275 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 16,983 | 18,275 | |
Hyungje art printing | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ (264) | ₩ (264) | |
Proportion of ownership interest in associate (B) | 31.54% | 31.54% | |
Interests in the net assets (A*B) | ₩ (83) | ₩ (83) | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 83 | 83 | |
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) | ₩ 45,350 | ₩ 88,763 | |
Proportion of ownership interest in associate (B) | 23.33% | 23.33% | |
Interests in the net assets (A*B) | ₩ 10,582 | ₩ 20,712 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 10,582 | 20,712 | |
Shinhan-Rhinos 1 Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 11,560 | ₩ 13,474 | |
Proportion of ownership interest in associate (B) | 22.48% | 22.48% | |
Interests in the net assets (A*B) | ₩ 2,599 | ₩ 3,029 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 2,599 | 3,029 | |
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) | ₩ 13,794 | ₩ 18,749 | |
Proportion of ownership interest in associate (B) | 21.74% | 21.74% | |
Interests in the net assets (A*B) | ₩ 2,999 | ₩ 4,076 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 2,999 | 4,076 | |
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) | ₩ 3,220 | ₩ 9,672 | |
Proportion of ownership interest in associate (B) | 41.31% | 41.18% | |
Interests in the net assets (A*B) | ₩ 1,345 | ₩ 5,128 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 1,345 | 5,128 | |
Korea Finance Security | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 20,490 | ₩ 21,693 | |
Proportion of ownership interest in associate (B) | 14.91% | 14.91% | |
Interests in the net assets (A*B) | ₩ 3,055 | ₩ 3,235 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,055 | 3,235 | |
Multimedia Tech Co.Ltd | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ (69) | ₩ 0 | |
Proportion of ownership interest in associate (B) | 21.06% | 21.06% | |
Interests in the net assets (A*B) | ₩ (15) | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 15 | 0 | |
Investments in associates | 0 | 0 | |
MIEL CO.,LTD | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ (85) | ₩ (119) | |
Proportion of ownership interest in associate (B) | 28.77% | 28.77% | |
Interests in the net assets (A*B) | ₩ (25) | ₩ (34) | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 25 | 34 | |
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) | ₩ 92,353 | ₩ 88,395 | |
Proportion of ownership interest in associate (B) | 35.73% | 35.73% | |
Interests in the net assets (A*B) | ₩ 32,993 | ₩ 31,580 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 32,993 | 31,580 | |
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) | ₩ 0 | ₩ 10,154 | |
Proportion of ownership interest in associate (B) | 0.00% | 29.56% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 3,001 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 3,001 | |
DB Epic Convertiblebond Private Trust No.2 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 11,348 | ₩ 10,125 | |
Proportion of ownership interest in associate (B) | 50.98% | 50.00% | |
Interests in the net assets (A*B) | ₩ 5,785 | ₩ 5,063 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 5,785 | 5,063 | |
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) | ₩ 72,023 | ₩ 38,179 | |
Proportion of ownership interest in associate (B) | 21.05% | 20.37% | |
Interests in the net assets (A*B) | ₩ 15,163 | ₩ 7,776 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 15,163 | 7,776 | |
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 | ₩ 22,244 | |
Proportion of ownership interest in associate (B) | 19.96% | 19.98% | |
Interests in the net assets (A*B) | ₩ 4,029 | ₩ 4,441 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,029 | 4,441 | |
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) | ₩ 31,938 | ₩ 14,568 | |
Proportion of ownership interest in associate (B) | 50.00% | 50.00% | |
Interests in the net assets (A*B) | ₩ 15,969 | ₩ 7,284 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 15,969 | 7,284 | |
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) | ₩ 22,400 | ₩ 22,583 | |
Proportion of ownership interest in associate (B) | 31.25% | 31.25% | |
Interests in the net assets (A*B) | ₩ 7,000 | ₩ 7,057 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 7,000 | 7,057 | |
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) | ₩ 115,122 | ₩ 118,368 | |
Proportion of ownership interest in associate (B) | 41.16% | 20.05% | |
Interests in the net assets (A*B) | ₩ 47,389 | ₩ 23,731 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 47,389 | 23,731 | |
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) | ₩ 25,082 | ₩ 25,200 | |
Proportion of ownership interest in associate (B) | 60.00% | 60.00% | |
Interests in the net assets (A*B) | ₩ 15,049 | ₩ 15,120 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 15,049 | 15,120 | |
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) | ₩ 37,978 | ₩ 40,689 | |
Proportion of ownership interest in associate (B) | 48.71% | 48.71% | |
Interests in the net assets (A*B) | ₩ 18,499 | ₩ 19,820 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 18,499 | 19,820 | |
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) | ₩ 67,141 | ₩ 71,625 | |
Proportion of ownership interest in associate (B) | 42.92% | 42.92% | |
Interests in the net assets (A*B) | ₩ 28,818 | ₩ 30,742 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 28,818 | 30,742 | |
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) | ₩ 327,917 | ₩ 269,155 | |
Proportion of ownership interest in associate (B) | 20.00% | 20.00% | |
Interests in the net assets (A*B) | ₩ 65,616 | ₩ 53,831 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 65,616 | 53,831 | |
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) | ₩ 0 | ₩ 67,004 | |
Proportion of ownership interest in associate (B) | 0.00% | 21.43% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 14,358 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 14,358 | |
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) | ₩ 62,728 | ₩ 61,657 | |
Proportion of ownership interest in associate (B) | 30.00% | 30.00% | |
Interests in the net assets (A*B) | ₩ 18,819 | ₩ 18,497 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 18,819 | 18,497 | |
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) | ₩ 0 | ₩ 39,509 | |
Proportion of ownership interest in associate (B) | 0.00% | 37.50% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 14,816 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 14,816 | |
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) | ₩ 10,143 | ₩ 10,267 | |
Proportion of ownership interest in associate (B) | 99.01% | 99.01% | |
Interests in the net assets (A*B) | ₩ 10,043 | ₩ 10,166 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 10,043 | 10,166 | |
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) | ₩ 18,620 | ₩ 18,598 | |
Proportion of ownership interest in associate (B) | 53.76% | 53.76% | |
Interests in the net assets (A*B) | ₩ 10,010 | ₩ 9,999 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 10,010 | 9,999 | |
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) | ₩ 59,402 | ₩ 7,329 | |
Proportion of ownership interest in associate (B) | 60.00% | 60.00% | |
Interests in the net assets (A*B) | ₩ 35,641 | ₩ 4,397 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 35,641 | 4,397 | |
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) | ₩ 57,790 | ₩ 53,608 | |
Proportion of ownership interest in associate (B) | 32.06% | 32.06% | |
Interests in the net assets (A*B) | ₩ 18,528 | ₩ 17,186 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 18,528 | 17,186 | |
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) | ₩ 21,341 | ₩ 23,502 | |
Proportion of ownership interest in associate (B) | 41.44% | 41.56% | |
Interests in the net assets (A*B) | ₩ 8,844 | ₩ 9,768 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 8,844 | 9,768 | |
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) | ₩ 26,849 | ₩ 28,469 | |
Proportion of ownership interest in associate (B) | 31.31% | 31.31% | |
Interests in the net assets (A*B) | ₩ 8,407 | ₩ 8,914 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 8,407 | 8,914 | |
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) | ₩ 0 | ₩ 32,113 | |
Proportion of ownership interest in associate (B) | 0.00% | 25.85% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 8,300 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 8,300 | |
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) | ₩ 62,637 | ₩ 197,417 | |
Proportion of ownership interest in associate (B) | 21.27% | 21.27% | |
Interests in the net assets (A*B) | ₩ 13,323 | ₩ 41,991 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 13,323 | 41,991 | |
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) | ₩ 0 | ₩ 15,042 | |
Proportion of ownership interest in associate (B) | 0.00% | 27.41% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 4,123 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 4,123 | |
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) | ₩ 99,315 | ₩ 52,905 | |
Proportion of ownership interest in associate (B) | 24.30% | 24.30% | |
Interests in the net assets (A*B) | ₩ 24,131 | ₩ 12,856 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 24,131 | 12,856 | |
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) | ₩ 24,331 | ₩ 24,513 | |
Proportion of ownership interest in associate (B) | 24.39% | 24.39% | |
Interests in the net assets (A*B) | ₩ 5,935 | ₩ 5,979 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 5,935 | 5,979 | |
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) | ₩ 32,373 | ₩ 30,298 | |
Proportion of ownership interest in associate (B) | 32.89% | 32.89% | |
Interests in the net assets (A*B) | ₩ 10,649 | ₩ 9,967 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 10,649 | 9,967 | |
FuturePlay-Shinhan TechInnovation Fund 1 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 8,590 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 50.00% | 50.00% | |
Interests in the net assets (A*B) | ₩ 4,295 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,295 | 0 | |
Stonebridge Corporate 1st Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 7,341 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 44.12% | 44.12% | |
Interests in the net assets (A*B) | ₩ 3,239 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,239 | 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) | ₩ 50,040 | ₩ 47,958 | |
Proportion of ownership interest in associate (B) | 21.64% | 21.64% | |
Interests in the net assets (A*B) | ₩ 10,827 | ₩ 10,376 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 10,827 | 10,376 | |
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) | ₩ 0 | ₩ (316) | |
Proportion of ownership interest in associate (B) | 0.00% | 28.47% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ (90) | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 90 | |
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) | ₩ 77,509 | ₩ 75,689 | |
Proportion of ownership interest in associate (B) | 9.00% | 9.00% | |
Interests in the net assets (A*B) | ₩ 6,976 | ₩ 6,812 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 6,976 | 6,812 | |
Goduck Gangil1 PFV Co., Ltd | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ (13,927) | ₩ 0 | |
Proportion of ownership interest in associate (B) | 1.04% | 1.04% | |
Interests in the net assets (A*B) | ₩ (145) | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 145 | 0 | |
Investments in associates | 0 | 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) | ₩ 112,795 | ₩ 80,000 | |
Proportion of ownership interest in associate (B) | 25.00% | 25.00% | |
Interests in the net assets (A*B) | ₩ 18,208 | ₩ 20,000 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 18,208 | 20,000 | |
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) | ₩ 0 | ₩ 82,718 | |
Proportion of ownership interest in associate (B) | 0.00% | 23.10% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 19,016 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 19,016 | |
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) | ₩ 87,678 | ₩ 96,316 | |
Proportion of ownership interest in associate (B) | 50.00% | 50.00% | |
Interests in the net assets (A*B) | ₩ 43,839 | ₩ 48,158 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 43,839 | 48,158 | |
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) | ₩ 366,202 | ₩ 90,807 | |
Proportion of ownership interest in associate (B) | 33.00% | 31.85% | |
Interests in the net assets (A*B) | ₩ 120,855 | ₩ 28,925 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 120,855 | 28,925 | |
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) | ₩ 39,411 | ₩ 34,853 | |
Proportion of ownership interest in associate (B) | 75.19% | 75.19% | |
Interests in the net assets (A*B) | ₩ 29,631 | ₩ 26,205 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 29,631 | 26,205 | |
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) | ₩ 25,860 | ₩ 12,899 | |
Proportion of ownership interest in associate (B) | 42.64% | 42.64% | |
Interests in the net assets (A*B) | ₩ 11,026 | ₩ 5,499 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 11,026 | 5,499 | |
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) | ₩ 111,426 | ₩ 111,607 | |
Proportion of ownership interest in associate (B) | 45.96% | 45.96% | |
Interests in the net assets (A*B) | ₩ 51,210 | ₩ 51,293 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 51,210 | 51,293 | |
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) | ₩ 395,815 | ₩ 261,433 | |
Proportion of ownership interest in associate (B) | 72.39% | 57.50% | |
Interests in the net assets (A*B) | ₩ 286,531 | ₩ 150,317 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 286,531 | 150,317 | |
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) | ₩ 33,856 | ₩ 34,250 | |
Proportion of ownership interest in associate (B) | 28.99% | 28.99% | |
Interests in the net assets (A*B) | ₩ 9,814 | ₩ 9,927 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 9,814 | 9,927 | |
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) | ₩ 56,242 | ₩ 56,360 | |
Proportion of ownership interest in associate (B) | 52.28% | 52.28% | |
Interests in the net assets (A*B) | ₩ 29,401 | ₩ 29,463 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 29,401 | 29,463 | |
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) | ₩ 0 | ₩ 22,285 | |
Proportion of ownership interest in associate (B) | 0.00% | 25.70% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 5,727 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 5,727 | |
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) | ₩ 0 | ₩ 22,536 | |
Proportion of ownership interest in associate (B) | 0.00% | 25.42% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 5,729 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 5,729 | |
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) | ₩ 11,815 | ₩ 10,295 | |
Proportion of ownership interest in associate (B) | 29.13% | 29.13% | |
Interests in the net assets (A*B) | ₩ 3,441 | ₩ 3,065 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,441 | 3,065 | |
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) | ₩ 0 | ₩ 39,095 | |
Proportion of ownership interest in associate (B) | 0.00% | 25.00% | |
Interests in the net assets (A*B) | ₩ 0 | ₩ 9,869 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 0 | 9,869 | |
UI Venture Fund 7th | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 13,445 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 24.39% | 0.00% | |
Interests in the net assets (A*B) | ₩ 3,279 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,279 | 0 | |
Sparklabs-Shinhan Opportunity Fund 1 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 9,760 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 49.50% | 0.00% | |
Interests in the net assets (A*B) | ₩ 4,832 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,832 | 0 | |
BNW Tech-Innovation Private Equity Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 19,906 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 29.85% | 0.00% | |
Interests in the net assets (A*B) | ₩ 5,942 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 5,942 | 0 | |
IGIS Real-estate Private Investment Trust No.33 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 34,507 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 40.86% | 0.00% | |
Interests in the net assets (A*B) | ₩ 14,099 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 14,099 | 0 | |
Findvalue PreIPO 6th Professional Investment Type Private Investment Trust | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 9,505 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 31.58% | 0.00% | |
Interests in the net assets (A*B) | ₩ 3,002 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,002 | 0 | |
WWG Global Real Estate Investment Trust no.4 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 60,071 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 29.55% | 0.00% | |
Interests in the net assets (A*B) | ₩ 17,752 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 17,752 | 0 | |
Fidelis Global Private Real Estate Trust No.2 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 24,899 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 78.26% | 0.00% | |
Interests in the net assets (A*B) | ₩ 19,485 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 19,485 | 0 | |
IGIS PRIVATE REAL ESTATE TRUST NO.331 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 12,238 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 30.77% | 0.00% | |
Interests in the net assets (A*B) | ₩ 3,765 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,765 | 0 | |
AIP EURO PRIVATE REAL ESTATE TRUST No. 12 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 172,755 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 28.70% | 0.00% | |
Interests in the net assets (A*B) | ₩ 48,344 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 48,344 | 0 | |
Pebblestone CGV Private Real Estate Trust No.1 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 27,502 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 48.53% | 0.00% | |
Interests in the net assets (A*B) | ₩ 13,346 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 13,346 | 0 | |
Shinhan AIM Real Estate Fund No.2 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 74,880 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 30.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 22,464 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 22,464 | 0 | |
Shinhan AIM 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) | ₩ 223,443 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 21.01% | 0.00% | |
Interests in the net assets (A*B) | ₩ 46,945 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 46,945 | 0 | |
SHBNPP Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust [Infra business] | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 149,611 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 22.02% | 0.00% | |
Interests in the net assets (A*B) | ₩ 32,944 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 32,944 | 0 | |
SHBNPP Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust [Infra business] | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 71,605 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 29.19% | 0.00% | |
Interests in the net assets (A*B) | ₩ 20,902 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 20,902 | 0 | |
SHBNPP Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2(USD) | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 9,368 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 71.43% | 0.00% | |
Interests in the net assets (A*B) | ₩ 6,692 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 6,692 | 0 | |
SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No. 1 [Equity securities-Derivative] | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 16,150 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 30.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 4,845 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,845 | 0 | |
Korea Omega-Shinhan Project Fund I | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 11,861 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 50.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 5,931 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 5,931 | 0 | |
New Green Shinhan Mezzanine Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 12,537 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 39.22% | 0.00% | |
Interests in the net assets (A*B) | ₩ 4,916 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,916 | 0 | |
KORAMKO-Daum Professional Private Investment Trust No.12 | |||
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) | 33.33% | 0.00% | |
Interests in the net assets (A*B) | ₩ 7,528 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 7,528 | 0 | |
Samsung SRA Real Estate Professional Private 45[FoFs] | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 42,665 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 25.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 10,666 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 10,666 | 0 | |
IBK Global New Renewable Energy Special Asset Professional Private2 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 111,605 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 28.98% | 0.00% | |
Interests in the net assets (A*B) | ₩ 32,349 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 32,349 | 0 | |
VS Cornerstone Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 8,413 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 41.18% | 0.00% | |
Interests in the net assets (A*B) | ₩ 3,464 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,464 | 0 | |
Aone Mezzanine Opportunity Professional Private | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 14,490 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 66.12% | 0.00% | |
Interests in the net assets (A*B) | ₩ 9,580 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 9,580 | 0 | |
KiwoomUnicorn3New Technology Business Investment Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 20,132 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 21.28% | 0.00% | |
Interests in the net assets (A*B) | ₩ 4,283 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,283 | 0 | |
Multi Asset The United States Thortons Professional Private1 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 165,760 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 25.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 41,440 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 41,440 | 0 | |
Kiwoom Milestone US Real Estate Professional Private20 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 68,434 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 75.27% | 0.00% | |
Interests in the net assets (A*B) | ₩ 51,512 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 51,512 | 0 | |
NH-Amundi US Infrastructure Private Fund2 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 98,161 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 25.91% | 0.00% | |
Interests in the net assets (A*B) | ₩ 25,430 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 25,430 | 0 | |
KB Distribution Private Real Estate1 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 49,513 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 62.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 30,698 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 30,698 | 0 | |
SHBNPP Jigae Namsan BTO professional Investment Type Private Special Asset Investment Trust [Infra business] | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 71,593 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 28.93% | 0.00% | |
Interests in the net assets (A*B) | ₩ 20,712 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 20,712 | 0 | |
SHBNPP Japan Photovoltaic Private Special Asset Investment Trust No.2 [Loan-Derivative] | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 97,164 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 30.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 29,149 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 29,149 | 0 | |
Kakao-Shinhan 1st TNYT Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 11,683 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 48.62% | 0.00% | |
Interests in the net assets (A*B) | ₩ 5,681 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 5,681 | 0 | |
IMM Special Situation 1-2 PRIVATE EQUITY FUND | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 54,295 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 20.02% | 0.00% | |
Interests in the net assets (A*B) | ₩ 10,870 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 10,870 | 0 | |
Pacific Private Placement Real Estate Fund No.40 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 47,094 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 24.73% | 0.00% | |
Interests in the net assets (A*B) | ₩ 11,647 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 11,647 | 0 | |
Mastern Private Real Estate Loan Fund No.2 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 16,955 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 33.57% | 0.00% | |
Interests in the net assets (A*B) | ₩ 5,692 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 5,692 | 0 | |
LB Scotland Amazon Fulfillment Center Fund 29 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 44,455 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 70.14% | 0.00% | |
Interests in the net assets (A*B) | ₩ 31,182 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 31,182 | 0 | |
JR AMC Hungary Budapest Office Fund 16 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 37,469 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 32.57% | 0.00% | |
Interests in the net assets (A*B) | ₩ 12,204 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 12,204 | 0 | |
IGIS 372 Real Estate Professional Private | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 200,192 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 28.39% | 0.00% | |
Interests in the net assets (A*B) | ₩ 56,835 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 56,835 | 0 | |
KoFC-Neoplux R&D-Biz Creation 2013-1 Venture Capital Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 15,636 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 19.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 3,830 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,830 | 0 | |
Future-Creation Neoplux Venture Capital Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 23,134 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 16.25% | 0.00% | |
Interests in the net assets (A*B) | ₩ 3,796 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,796 | 0 | |
Gyeonggi-Neoplux Superman Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 31,712 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 21.76% | 0.00% | |
Interests in the net assets (A*B) | ₩ 6,399 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 6,399 | 0 | |
NewWave 6th Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 20,501 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 30.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 6,150 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 6,150 | 0 | |
Neoplux No.3 Private Equity Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 102,956 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 10.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 10,295 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 10,295 | 0 | |
PCC Amberstone Private Equity Fund I | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 103,736 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 21.67% | 0.00% | |
Interests in the net assets (A*B) | ₩ 22,480 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 22,480 | 0 | |
KIAMCO POWERLOAN TRUST 4TH | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 92,794 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 47.37% | 0.00% | |
Interests in the net assets (A*B) | ₩ 43,955 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 43,955 | 0 | |
Mastern Opportunity Seeking Real Estate Fund II | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 98,994 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 20.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 19,799 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 19,799 | 0 | |
AION ELFIS PROFESSIONAL PRIVATE 1 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 27,642 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 20.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 5,528 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 5,528 | 0 | |
T&F 2020 SS Private Equity Fund Specializing in Start-up and Venture Business | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 15,001 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 29.68% | 0.00% | |
Interests in the net assets (A*B) | ₩ 4,453 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,453 | 0 | |
Neoplux Market-Frontier Secondary Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 54,727 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 19.74% | 0.00% | |
Interests in the net assets (A*B) | ₩ 11,545 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 11,545 | 0 | |
Synergy Green New Deal 1st New Technology Business Investment Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 35,527 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 28.17% | 0.00% | |
Interests in the net assets (A*B) | ₩ 10,008 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 10,008 | 0 | |
KAIM Real-estate Private Investment Trust 20 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 13,254 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 38.46% | 0.00% | |
Interests in the net assets (A*B) | ₩ 5,098 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 5,098 | 0 | |
KIAMCO Vietnam Solar Special Asset Private Investment Trust | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 15,896 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 50.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 7,948 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 7,948 | 0 | |
CSQUARE SNIPER PROFESSIONAL PRIVATE 10 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 5,000 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 62.50% | 0.00% | |
Interests in the net assets (A*B) | ₩ 3,125 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 3,125 | 0 | |
IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-1 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 45,573 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 97.85% | 0.00% | |
Interests in the net assets (A*B) | ₩ 44,594 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 44,594 | 0 | |
IGIS GLIP Professional Investment Private Real Estate Investment Trust No. 1-2 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 45,573 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 97.85% | 0.00% | |
Interests in the net assets (A*B) | ₩ 44,594 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 44,594 | 0 | |
Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 48,475 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 25.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 15,855 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 15,855 | 0 | |
IGIS Professional Investors Private Investment Real Estate Investment LLC No.395 | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 50,394 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 58.82% | 0.00% | |
Interests in the net assets (A*B) | ₩ 29,644 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 29,644 | 0 | |
SHBNPP Green New Deal Energy Professional Investment Type Private Special 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) | ₩ 70,473 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 30.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 21,142 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 21,142 | 0 | |
Kiwoom Private Equity Ant-Man 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) | ₩ 20,134 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 25.00% | 0.00% | |
Interests in the net assets (A*B) | ₩ 5,034 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 5,034 | 0 | |
Kiwoom Hero No.4 Private Equity Fund | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 22,358 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 21.05% | 0.00% | |
Interests in the net assets (A*B) | ₩ 4,707 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 4,707 | 0 | |
Vogo Canister Professional Trust Private Fund I | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 119,892 | ₩ 0 | |
Proportion of ownership interest in associate (B) | 36.68% | 0.00% | |
Interests in the net assets (A*B) | ₩ 43,975 | ₩ 0 | |
Intra-group transactions | 0 | 0 | |
Other reconciliations | 0 | 0 | |
Investments in associates | 43,975 | 0 | |
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 | ||
Others | |||
Reconciliation of the financial information to the carrying value of its interests in the associates [Line Items] | |||
Net Assets (A) | ₩ 519,091 | ||
Proportion of ownership interest in associate (B) | 0.00% | ||
Interests in the net assets (A*B) | ₩ 139,164 | ||
Intra-group transactions | 0 | ||
Other reconciliations | 0 | ||
Investments in associates | ₩ 139,164 |
Unrecognized equity method loss
Unrecognized equity method losses and cumulative unrecognized equity method losses (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Associates | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | ₩ (268) | ₩ (183) |
Cumulative unrecognized equity method losses | (290) | (229) |
Songrim Partners | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | 0 | (14) |
Cumulative unrecognized equity method losses | (22) | (22) |
Multimedia Tech Co.Ltd | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | (15) | 0 |
Cumulative unrecognized equity method losses | (15) | 0 |
Hyungje art printing | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | (83) | (45) |
Cumulative unrecognized equity method losses | (83) | (83) |
MIEL CO.,LTD | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | (25) | (34) |
Cumulative unrecognized equity method losses | (25) | (34) |
IL GU FARM CO.,LTD | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | 0 | (90) |
Cumulative unrecognized equity method losses | 0 | (90) |
Goduck Gangil1 PFV Co., Ltd | ||
Unrecognized equity method losses and cumulative unrecognized equity method losses [Line Items] | ||
Unrecognized equity method losses | (145) | 0 |
Cumulative unrecognized equity method losses | ₩ (145) | ₩ 0 |
Investment properties, net (Det
Investment properties, net (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Investment properties, net [Line Items] | |||
Investment properties, net | ₩ 615,235 | ₩ 488,610 | ₩ 474,820 |
Acquisition cost | |||
Investment properties, net [Line Items] | |||
Investment properties, net | 767,118 | 605,773 | |
Accumulated depreciation | |||
Investment properties, net [Line Items] | |||
Investment properties, net | ₩ (151,883) | ₩ (117,163) |
Changes in investment propertie
Changes in investment properties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Changes in investment properties [Abstract] | ||||
Beginning balance | ₩ 488,610 | ₩ 474,820 | ||
Acquisitions | 244,100 | 2,767 | ||
Disposals | (92,337) | (73,588) | ||
Depreciation | (20,165) | (17,565) | ₩ (16,917) | |
Amounts transferred from (to) property and equipment | (4,064) | 104,573 | ||
Amounts transferred to assets held for sale | [1] | (910) | (15,795) | |
Foreign currency adjustment | 1 | (169) | ||
Business combination (Note 47) | 0 | 13,567 | ||
Ending balance | ₩ 615,235 | ₩ 488,610 | ₩ 474,820 | |
[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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income and expenses on investment property [Abstract] | |||
Rental income | ₩ 23,890 | ₩ 43,777 | ₩ 32,488 |
Direct operating expenses for investment properties that generated rental income | ₩ 11,951 | ₩ 12,107 | ₩ 12,191 |
The fair value of investment pr
The fair value of investment property (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
The fair value of investment property [Abstract] | |||
Land and buildings | [1] | ₩ 1,254,149 | ₩ 1,062,195 |
[1] | Fair value of investment properties is estimated based in the recent market transaction conditions with an independent third party 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, 2020 | Dec. 31, 2019 |
Other assets, net [Abstract] | ||
Accounts receivable | ₩ 12,511,880 | ₩ 9,355,388 |
Domestic exchange settlement debit | 4,055,744 | 4,337,628 |
Guarantee deposits | 1,145,045 | 1,184,572 |
Present value discount on guarantee deposits | (33,062) | (45,316) |
Accrued income | 2,535,847 | 2,612,823 |
Prepaid expense | 202,218 | 193,849 |
Provisional payments | 183,935 | 71,764 |
Sundry assets | 106,341 | 93,766 |
Separate account assets | 9,267,722 | 8,253,351 |
Advance payments | 203,023 | 317,365 |
Unamortized deferred acquisition cost | 979,942 | 907,868 |
Other | 1,118,926 | 661,998 |
Allowances for credit loss of other assets | (82,895) | (66,775) |
Total Other Assets | ₩ 32,194,666 | ₩ 27,878,281 |
Changes in deferred acquisition
Changes in deferred acquisition cost by insurance type (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Changes in deferred acquisition cost by insurance type [Line Items] | |||
Beginning balance | ₩ 907,868 | ||
Acquisition cost incurred | |||
Cost | 802,942 | ||
Expensed | (315,970) | ||
Deferral | 486,972 | ||
Amortization | (414,898) | ₩ (373,800) | ₩ (385,793) |
Ending balance | 979,942 | 907,868 | |
Individual insurance | |||
Changes in deferred acquisition cost by insurance type [Line Items] | |||
Beginning balance | 907,035 | ||
Acquisition cost incurred | |||
Cost | 802,599 | ||
Expensed | (315,806) | ||
Deferral | 486,793 | ||
Amortization | (414,477) | ||
Ending balance | 979,351 | 907,035 | |
Pure endowment | |||
Changes in deferred acquisition cost by insurance type [Line Items] | |||
Beginning balance | 67,856 | ||
Acquisition cost incurred | |||
Cost | 11,602 | ||
Expensed | (6,450) | ||
Deferral | 5,152 | ||
Amortization | (35,504) | ||
Ending balance | 37,504 | 67,856 | |
Death | |||
Changes in deferred acquisition cost by insurance type [Line Items] | |||
Beginning balance | 834,415 | ||
Acquisition cost incurred | |||
Cost | 771,973 | ||
Expensed | (298,355) | ||
Deferral | 473,618 | ||
Amortization | (375,111) | ||
Ending balance | 932,922 | 834,415 | |
Endowment | |||
Changes in deferred acquisition cost by insurance type [Line Items] | |||
Beginning balance | 4,764 | ||
Acquisition cost incurred | |||
Cost | 19,024 | ||
Expensed | (11,001) | ||
Deferral | 8,023 | ||
Amortization | (3,862) | ||
Ending balance | 8,925 | 4,764 | |
Group insurance | |||
Changes in deferred acquisition cost by insurance type [Line Items] | |||
Beginning balance | 833 | ||
Acquisition cost incurred | |||
Cost | 343 | ||
Expensed | (164) | ||
Deferral | 179 | ||
Amortization | (421) | ||
Ending balance | 591 | 833 | |
Pure protection | |||
Changes in deferred acquisition cost by insurance type [Line Items] | |||
Beginning balance | 833 | ||
Acquisition cost incurred | |||
Cost | 343 | ||
Expensed | (164) | ||
Deferral | 179 | ||
Amortization | (421) | ||
Ending balance | ₩ 591 | ₩ 833 |
Gross investment and present va
Gross investment and present value of minimum lease payment of finance lease (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Gross investment and present value of minimum lease payment of finance lease [Line Items] | ||
Gross investment | ₩ 1,917,329 | ₩ 1,900,179 |
Unearned finance income | 144,674 | 216,802 |
Present value of minimum lease payment | 1,772,655 | 1,683,377 |
Not later than 1 year | ||
Gross investment and present value of minimum lease payment of finance lease [Line Items] | ||
Gross investment | 678,790 | 529,326 |
Unearned finance income | 73,230 | 94,809 |
Present value of minimum lease payment | 605,560 | 434,517 |
1~2 years | ||
Gross investment and present value of minimum lease payment of finance lease [Line Items] | ||
Gross investment | 527,757 | 443,708 |
Unearned finance income | 43,701 | 63,226 |
Present value of minimum lease payment | 484,056 | 380,482 |
2~3 years | ||
Gross investment and present value of minimum lease payment of finance lease [Line Items] | ||
Gross investment | 391,447 | 469,754 |
Unearned finance income | 21,169 | 37,725 |
Present value of minimum lease payment | 370,278 | 432,029 |
3~4 years | ||
Gross investment and present value of minimum lease payment of finance lease [Line Items] | ||
Gross investment | 219,040 | 289,798 |
Unearned finance income | 6,089 | 16,773 |
Present value of minimum lease payment | 212,951 | 273,025 |
4~5 years | ||
Gross investment and present value of minimum lease payment of finance lease [Line Items] | ||
Gross investment | 93,975 | 150,811 |
Unearned finance income | 432 | 4,225 |
Present value of minimum lease payment | 93,543 | 146,586 |
Later than 5 years | ||
Gross investment and present value of minimum lease payment of finance lease [Line Items] | ||
Gross investment | 6,320 | 16,782 |
Unearned finance income | 53 | 44 |
Present value of minimum lease payment | ₩ 6,267 | ₩ 16,738 |
Minimum lease payment receivabl
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Finance lease (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Finance lease [Line Items] | ||
Minimum lease payment | ₩ 1,917,329 | ₩ 1,900,179 |
Present Value Adjustment | 144,674 | 216,802 |
Present value of minimum lease payment | 1,772,655 | 1,683,377 |
Not later than 1 year | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Finance lease [Line Items] | ||
Minimum lease payment | 678,790 | 529,326 |
Present Value Adjustment | 73,230 | 94,809 |
Present value of minimum lease payment | 605,560 | 434,517 |
1~2 years | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Finance lease [Line Items] | ||
Minimum lease payment | 527,757 | 443,708 |
Present Value Adjustment | 43,701 | 63,226 |
Present value of minimum lease payment | 484,056 | 380,482 |
2~3 years | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Finance lease [Line Items] | ||
Minimum lease payment | 391,447 | 469,754 |
Present Value Adjustment | 21,169 | 37,725 |
Present value of minimum lease payment | 370,278 | 432,029 |
3~4 years | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Finance lease [Line Items] | ||
Minimum lease payment | 219,040 | 289,798 |
Present Value Adjustment | 6,089 | 16,773 |
Present value of minimum lease payment | 212,951 | 273,025 |
4~5 years | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Finance lease [Line Items] | ||
Minimum lease payment | 93,975 | 150,811 |
Present Value Adjustment | 432 | 4,225 |
Present value of minimum lease payment | 93,543 | 146,586 |
Later than 5 years | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Finance lease [Line Items] | ||
Minimum lease payment | 6,320 | 16,782 |
Present Value Adjustment | 53 | 44 |
Present value of minimum lease payment | ₩ 6,267 | ₩ 16,738 |
Minimum lease payment receiva_2
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Operating lease (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Operating lease [Line Items] | ||
Minimum lease payment | ₩ 965,261 | ₩ 389,414 |
Not later than 1 year | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Operating lease [Line Items] | ||
Minimum lease payment | 276,590 | 142,140 |
1~2 years | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Operating lease [Line Items] | ||
Minimum lease payment | 233,443 | 118,781 |
2~3 years | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Operating lease [Line Items] | ||
Minimum lease payment | 182,261 | 76,379 |
3~4 years | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Operating lease [Line Items] | ||
Minimum lease payment | 124,556 | 37,047 |
4~5 years | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Operating lease [Line Items] | ||
Minimum lease payment | 52,997 | 14,984 |
Later than 5 years | ||
Minimum lease payment receivable schedule for lease contracts of the Group as lessor-Operating lease [Line Items] | ||
Minimum lease payment | ₩ 95,414 | ₩ 83 |
Changes in operating lease asse
Changes in operating lease assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Changes in operating lease assets [Line Items] | ||
Beginning balance | ₩ 4,083,328 | ₩ 3,577,709 |
Disposals | (166,151) | (43,644) |
Depreciation | (475,506) | (479,657) |
Ending balance | 3,989,697 | 4,083,328 |
Property Plant And Equipment By Operating Lease Status | ||
Changes in operating lease assets [Line Items] | ||
Beginning balance | 549,741 | 370,868 |
Acquisitions | 681,607 | 411,971 |
Disposals | (54,042) | (134,810) |
Depreciation | (163,006) | (98,288) |
Ending balance | ₩ 1,014,300 | ₩ 549,741 |
Right-of-use assets by the less
Right-of-use assets by the lessee's underlying asset type (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | ₩ 590,417 | ₩ 1,112,796 |
Real estate | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | 556,419 | 1,077,803 |
Vehicle | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | 20,621 | 21,994 |
Others | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | 13,377 | 12,999 |
Acquisition cost | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | 1,016,183 | 1,357,206 |
Acquisition cost | Real estate | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | 953,135 | 1,306,759 |
Acquisition cost | Vehicle | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | 36,680 | 30,051 |
Acquisition cost | Others | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | 26,368 | 20,396 |
Accumulated depreciation | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | (425,766) | (244,410) |
Accumulated depreciation | Real estate | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | (396,716) | (228,956) |
Accumulated depreciation | Vehicle | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | (16,059) | (8,057) |
Accumulated depreciation | Others | ||
Right-of-use assets by the lessee's underlying asset type [Line Items] | ||
Right-of-use Assets | ₩ (12,991) | ₩ (7,397) |
Changes in right-of-use assets
Changes in right-of-use assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Changes in property and equipment [Line Items] | ||
Beginning balance | ₩ 4,083,328 | ₩ 3,577,709 |
Disposals | (166,151) | (43,644) |
Depreciation | (475,506) | (479,657) |
Substitution | 0 | 0 |
Effects of foreign currency movements | (8,553) | 14,031 |
Business combination (Note 47) | 835 | 43,242 |
Ending balance | 3,989,697 | 4,083,328 |
Right-of-use assets | ||
Schedule of Changes in property and equipment [Line Items] | ||
Beginning balance | 1,112,796 | 583,576 |
Acquisitions | 305,958 | 805,783 |
Disposals | (24,173) | (12,595) |
Depreciation | (286,028) | (298,538) |
Substitution | (513,437) | 0 |
Effects of foreign currency movements | (5,380) | 2,981 |
Business combination (Note 47) | 681 | 31,589 |
Ending balance | 590,417 | 1,112,796 |
Right-of-use assets | Real estate | ||
Schedule of Changes in property and equipment [Line Items] | ||
Beginning balance | 1,077,803 | 554,478 |
Acquisitions | 286,981 | 781,097 |
Disposals | (21,763) | (10,808) |
Depreciation | (268,376) | (280,691) |
Substitution | (513,437) | 0 |
Effects of foreign currency movements | (5,375) | 2,890 |
Business combination (Note 47) | 586 | 30,837 |
Ending balance | 556,419 | 1,077,803 |
Right-of-use assets | Vehicle | ||
Schedule of Changes in property and equipment [Line Items] | ||
Beginning balance | 21,994 | 16,528 |
Acquisitions | 12,556 | 16,523 |
Disposals | (2,394) | (1,638) |
Depreciation | (11,625) | (10,094) |
Substitution | 0 | 0 |
Effects of foreign currency movements | (5) | 91 |
Business combination (Note 47) | 95 | 584 |
Ending balance | 20,621 | 21,994 |
Right-of-use assets | Others | ||
Schedule of Changes in property and equipment [Line Items] | ||
Beginning balance | 12,999 | 12,570 |
Acquisitions | 6,421 | 8,163 |
Disposals | (16) | (149) |
Depreciation | (6,027) | (7,753) |
Substitution | 0 | 0 |
Effects of foreign currency movements | 0 | 0 |
Business combination (Note 47) | 0 | 168 |
Ending balance | ₩ 13,377 | ₩ 12,999 |
Maturity of the lease liability
Maturity of the lease liability (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | [1] | ₩ 594,161 | ₩ 1,104,259 |
Real estate | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 556,124 | 1,066,868 | |
Vehicle | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 24,131 | 23,616 | |
Others | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 13,906 | 13,775 | |
Less than 1 month | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 26,484 | 23,304 | |
Less than 1 month | Real estate | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 22,560 | 20,967 | |
Less than 1 month | Vehicle | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 3,404 | 1,378 | |
Less than 1 month | Others | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 520 | 959 | |
1~3 months | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 39,392 | 36,893 | |
1~3 months | Real estate | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 36,746 | 34,357 | |
1~3 months | Vehicle | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 1,840 | 1,542 | |
1~3 months | Others | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 806 | 994 | |
3~6 months | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 53,439 | 51,110 | |
3~6 months | Real estate | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 49,746 | 47,644 | |
3~6 months | Vehicle | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 2,490 | 2,178 | |
3~6 months | Others | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 1,203 | 1,288 | |
6 months ~ 1 year | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 96,853 | 92,393 | |
6 months ~ 1 year | Real estate | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 90,057 | 86,228 | |
6 months ~ 1 year | Vehicle | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 4,765 | 4,108 | |
6 months ~ 1 year | Others | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 2,031 | 2,057 | |
1~5 years | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 308,909 | 871,586 | |
1~5 years | Real estate | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 287,932 | 848,699 | |
1~5 years | Vehicle | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 11,632 | 14,410 | |
1~5 years | Others | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 9,345 | 8,477 | |
More than 5 years | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 69,084 | 28,973 | |
More than 5 years | Real estate | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 69,083 | 28,973 | |
More than 5 years | Vehicle | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | 0 | 0 | |
More than 5 years | Others | |||
Disclosure of maturity analysis of lease liability [Line Items] | |||
Lease liabilities | ₩ 1 | ₩ 0 | |
[1] | As of December 31, 2020, the Group accounts the lease liabilities as other liabilities. For the year ended December 31, 2020, the amount of variable lease payments that are not included in the measurement of lease liabilities is W 114 million, cash outflows from leases are W 788,532 million, and interest expense on lease liabilities is W 14,504 million. |
Lease payments for low-value as
Lease payments for low-value assets and short-term leases (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Lease payments for low-value assets and short-term leases [Abstract] | |||
Low-value assets | ₩ 6,181 | ₩ 5,045 | |
Short-term lease | [1] | 836 | 907 |
Total | ₩ 7,017 | ₩ 5,952 | |
[1] | The payments for leases with terms less than 1 month are included. |
Assets pledged as collateral (D
Assets pledged as collateral (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Collateral pledged | |||
Assets pledged as collateral [Line Items] | |||
Assets pledged as collateral | [1] | ₩ 34,989,252 | ₩ 31,535,530 |
Loans at amortized cost | |||
Assets pledged as collateral [Line Items] | |||
Assets pledged as collateral | [1] | 0 | 128,163 |
Securities | |||
Assets pledged as collateral [Line Items] | |||
Assets pledged as collateral | [1] | 33,903,173 | 30,195,356 |
Financial assets at fair value through profit or loss | |||
Assets pledged as collateral [Line Items] | |||
Assets pledged as collateral | [1] | 15,328,573 | 15,016,057 |
Financial assets at fair value through other comprehensive income | |||
Assets pledged as collateral [Line Items] | |||
Assets pledged as collateral | [1] | 4,058,033 | 2,387,555 |
Securities at amortized cost | |||
Assets pledged as collateral [Line Items] | |||
Assets pledged as collateral | [1] | 14,516,567 | 12,791,744 |
Deposits | |||
Assets pledged as collateral [Line Items] | |||
Assets pledged as collateral | [1] | 1,086,079 | 1,212,011 |
Deposits at amortized cost | |||
Assets pledged as collateral [Line Items] | |||
Assets pledged as collateral | [1] | 784,626 | 1,090,161 |
Real estate | |||
Assets pledged as collateral [Line Items] | |||
Assets pledged as collateral | [1] | 301,098 | 121,446 |
Other financial assets | |||
Assets pledged as collateral [Line Items] | |||
Assets pledged as collateral | [1] | ₩ 355 | ₩ 404 |
[1] | The carrying amounts of assets pledged that the pledgees have the right to sell or re-pledge regardless of the Group's default as of December 31, 2019 and 2020 are W9,696,487 million and W11,190,218 million, respectively. |
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, 2020 | Dec. 31, 2019 |
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 | ₩ 10,487,095 | ₩ 9,240,573 |
Securities received as collateral | ₩ 2,871,910 | ₩ 2,007,036 |
Deposits (Details)
Deposits (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Deposits [Line Items] | ||
Deposits | ₩ 326,416,868 | ₩ 294,874,256 |
Demand Deposits | ||
Deposits [Line Items] | ||
Deposits | 148,725,197 | 116,282,707 |
Demand Deposits | Domestic currency [Member] | ||
Deposits [Line Items] | ||
Deposits | 132,444,929 | 103,048,895 |
Demand Deposits | Foreign currency [Member] | ||
Deposits [Line Items] | ||
Deposits | 16,280,268 | 13,233,812 |
Time Deposits | ||
Deposits [Line Items] | ||
Deposits | 157,833,891 | 158,427,447 |
Time Deposits | Domestic currency [Member] | ||
Deposits [Line Items] | ||
Deposits | 137,719,464 | 139,824,896 |
Time Deposits | Foreign currency [Member] | ||
Deposits [Line Items] | ||
Deposits | 20,114,427 | 18,602,551 |
Certificates of deposits | ||
Deposits [Line Items] | ||
Deposits | 5,946,704 | 9,707,791 |
Discount note deposits | ||
Deposits [Line Items] | ||
Deposits | 6,226,937 | 4,579,587 |
CMA | ||
Deposits [Line Items] | ||
Deposits | 4,006,319 | 3,987,372 |
Other | ||
Deposits [Line Items] | ||
Deposits | ₩ 3,677,820 | ₩ 1,889,352 |
Financial liabilities at fair_3
Financial liabilities at fair value through profit or loss (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | ₩ 1,436,694 | ₩ 1,632,457 |
Securities sold | ||
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | 897,129 | 1,164,697 |
Stocks | ||
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | 387,857 | 298,008 |
Municipal bonds | ||
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | 503,920 | 825,942 |
Other securities | ||
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | 5,352 | 40,747 |
Gold and silver deposits | ||
Financial liabilities at fair value through profit or loss [Line Items] | ||
Financial liabilities at fair value through profit or loss | ₩ 539,565 | ₩ 467,760 |
Financial liabilities designa_3
Financial liabilities designated at fair value through profit or loss (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | |
Financial liabilities designated at fair value through profit or loss [Line Items] | |||
Financial liabilities designated at fair value through profit or loss | [1] | ₩ 8,455,724 | ₩ 9,409,456 |
Financial liabilities designated at fair value through profit or loss | |||
Financial liabilities designated at fair value through profit or loss [Line Items] | |||
Financial liabilities designated at fair value through profit or loss | [1] | 8,455,724 | 9,409,456 |
Equity-linked securities sold | |||
Financial liabilities designated at fair value through profit or loss [Line Items] | |||
Financial liabilities designated at fair value through profit or loss | [1] | 6,556,288 | 6,880,811 |
Securities sold with embedded derivatives | |||
Financial liabilities designated at fair value through profit or loss [Line Items] | |||
Financial liabilities designated at fair value through profit or loss | [1] | ₩ 1,899,436 | ₩ 2,528,645 |
[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, 2020 | Dec. 31, 2019 | |
Borrowings [Line Items] | ||
Deferred origination costs | ₩ (79,958) | ₩ (109,067) |
Borrowings | 41,594,064 | 34,863,156 |
Borrowings | ||
Borrowings [Line Items] | ||
Borrowings, gross | 41,595,615 | 34,864,166 |
Deferred origination costs | (1,551) | (1,010) |
Borrowings | 41,594,064 | 34,863,156 |
Denominated in Korean won | ||
Borrowings [Line Items] | ||
Borrowings, gross | ₩ 21,726,382 | ₩ 16,631,442 |
Borrowings from Bank of Korea | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 0.25% | 0.75% |
Minimum Interest rate | 0.25% | 0.50% |
Borrowings, gross | ₩ 5,351,110 | ₩ 2,429,346 |
Others | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 6.20% | 6.00% |
Minimum Interest rate | 0.00% | 0.00% |
Borrowings, gross | ₩ 16,375,272 | ₩ 14,202,096 |
Denominated in foreign currency | ||
Borrowings [Line Items] | ||
Borrowings, gross | ₩ 7,032,901 | ₩ 8,411,671 |
Overdraft due from banks | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 0.00% | 0.00% |
Minimum Interest rate | 0.00% | 0.00% |
Borrowings, gross | ₩ 71,309 | ₩ 86,791 |
Borrowings from banks | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 8.00% | 7.50% |
Minimum Interest rate | 0.00% | 0.11% |
Borrowings, gross | ₩ 5,423,571 | ₩ 6,576,849 |
Others | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 12.45% | 13.65% |
Minimum Interest rate | 0.00% | 1.94% |
Borrowings, gross | ₩ 1,538,021 | ₩ 1,748,031 |
Call money | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 0.55% | 5.25% |
Minimum Interest rate | 0.35% | 0.00% |
Borrowings, gross | ₩ 1,760,042 | ₩ 712,247 |
Bills of sale | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 1.10% | 1.60% |
Minimum Interest rate | 0.00% | 0.80% |
Borrowings, gross | ₩ 10,706 | ₩ 19,070 |
Bonds sold under repurchase agreements | ||
Borrowings [Line Items] | ||
Maximum Interest rate | 5.15% | 5.40% |
Minimum Interest rate | 0.00% | 0.95% |
Borrowings, gross | ₩ 11,065,584 | ₩ 9,089,736 |
Deferred origination costs | ||
Borrowings [Line Items] | ||
Deferred origination costs | ₩ (1,551) | ₩ (1,010) |
Debt securities issued (Details
Debt securities issued (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Debt securities issued [Line Items] | ||
Debt securities issued, gross | ₩ 74,968,124 | ₩ 75,418,859 |
Discount on debt securities issued | (79,958) | (109,067) |
Gain(Loss) on fair value hedges | 246,228 | 53,572 |
In won | ||
Debt securities issued [Line Items] | ||
Debt securities issued, gross | 64,186,881 | 64,871,238 |
Discount on debt securities issued | (39,309) | (66,334) |
Gain(Loss) on fair value hedges | ₩ (63,652) | ₩ (87,692) |
In won | Debt securities issued | ||
Debt securities issued [Line Items] | ||
Maximum interest rate | 8.00% | 8.00% |
Minimum interest rate | 0.67% | 0.71% |
Debt securities issued, gross | ₩ 59,816,756 | ₩ 60,501,093 |
Discount on debt securities issued | ₩ 0 | ₩ 0 |
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 | ₩ 4,370,125 | ₩ 4,370,145 |
Discount on debt securities issued | 0 | 0 |
In won | Gain (loss) on fair value hedges | ||
Debt securities issued [Line Items] | ||
Discount on debt securities issued | 0 | 0 |
Gain(Loss) on fair value hedges | (63,652) | (87,692) |
In won | Discount on debt securities issued | ||
Debt securities issued [Line Items] | ||
Discount on debt securities issued | (39,309) | (66,334) |
In foreign currency | ||
Debt securities issued [Line Items] | ||
Debt securities issued, gross | 10,781,243 | 10,547,621 |
Discount on debt securities issued | (40,649) | (42,733) |
Gain(Loss) on fair value hedges | ₩ 309,880 | ₩ 141,264 |
In foreign currency | Debt securities issued | ||
Debt securities issued [Line Items] | ||
Maximum interest rate | 7.59% | 7.59% |
Minimum interest rate | 0.25% | 0.01% |
Debt securities issued, gross | ₩ 7,182,619 | ₩ 6,750,085 |
Discount on debt securities issued | ₩ 0 | ₩ 0 |
In foreign currency | Subordinated debt securities issued | ||
Debt securities issued [Line Items] | ||
Maximum interest rate | 5.10% | 5.10% |
Minimum interest rate | 3.34% | 3.34% |
Debt securities issued, gross | ₩ 3,598,624 | ₩ 3,797,536 |
Discount on debt securities issued | 0 | 0 |
In foreign currency | Gain (loss) on fair value hedges | ||
Debt securities issued [Line Items] | ||
Discount on debt securities issued | 0 | 0 |
Gain(Loss) on fair value hedges | 309,880 | 141,264 |
In foreign currency | Discount on debt securities issued | ||
Debt securities issued [Line Items] | ||
Discount on debt securities issued | ₩ (40,649) | ₩ (42,733) |
Defined benefit plan assets and
Defined benefit plan assets and liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined benefit plan assets and liabilities [Abstract] | ||||
Present value of defined benefit obligations | ₩ 2,182,464 | ₩ 2,063,102 | ||
Fair value of plan assets | (2,138,324) | (1,943,644) | ||
Recognized liabilities for defined benefit obligations | [1] | ₩ 44,140 | ₩ 119,458 | ₩ 127,348 |
[1] | The net defined benefit obligation of W119,458 million as of December 31, 2019 is the net defined benefit liability of W121,140 million less the net plan assets of W1,682 million. In addition, the net defined benefit obligation of W44,140 million as of December 31, 2020 is the net defined benefit liability of W62,514 million less the net plan assets of W18,374 million. |
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, 2020 | Dec. 31, 2019 | ||
Changes in the present value of defined benefit obligation and plan assets [Line Items] | |||
Beginning balance | [1] | ₩ 119,458 | ₩ 127,348 |
Included in profit or loss: | |||
Current service cost | 179,390 | 172,490 | |
Past service cost | 9,069 | (1,588) | |
Interest expense (income) | 2,208 | 2,917 | |
Settlement expense (income) | (306) | (29) | |
Subtotal | 190,361 | 173,790 | |
Included in other comprehensive income: | |||
Demographic assumptions | 18 | (7,584) | |
Financial assumptions | (44,424) | 53,475 | |
Experience adjustment | 2,957 | 8,001 | |
Return on plan assets excluding interest income | 20,027 | 21,719 | |
Subtotal | (21,422) | 75,611 | |
Other: | |||
Benefits paid by the plan | (6,047) | (7,003) | |
Contributions paid into the plan | (239,838) | (252,858) | |
Settlement gain or loss | 1,358 | 216 | |
Business combination (Note 47) | 848 | 2,367 | |
Effect of movements in exchange rates | (578) | (13) | |
Others | 0 | 0 | |
Subtotal | (244,257) | (257,291) | |
Ending balance | [1] | 44,140 | 119,458 |
Defined benefit obligation | |||
Changes in the present value of defined benefit obligation and plan assets [Line Items] | |||
Beginning balance | 2,063,102 | 1,841,982 | |
Included in profit or loss: | |||
Current service cost | 179,390 | 172,490 | |
Past service cost | 9,069 | (1,588) | |
Interest expense (income) | 57,674 | 57,253 | |
Settlement expense (income) | (306) | (29) | |
Subtotal | 245,827 | 228,126 | |
Included in other comprehensive income: | |||
Demographic assumptions | 18 | (7,584) | |
Financial assumptions | (44,424) | 53,475 | |
Experience adjustment | 2,957 | 8,001 | |
Return on plan assets excluding interest income | 0 | 0 | |
Subtotal | (41,449) | 53,892 | |
Other: | |||
Benefits paid by the plan | (83,614) | (87,066) | |
Contributions paid into the plan | (268) | 0 | |
Settlement gain or loss | (2,695) | 216 | |
Business combination (Note 47) | 2,139 | 25,965 | |
Effect of movements in exchange rates | (578) | (13) | |
Others | 0 | 0 | |
Subtotal | (85,016) | (60,898) | |
Ending balance | 2,182,464 | 2,063,102 | |
Plan assets | |||
Changes in the present value of defined benefit obligation and plan assets [Line Items] | |||
Beginning balance | (1,943,644) | (1,714,634) | |
Included in profit or loss: | |||
Current service cost | 0 | 0 | |
Past service cost | 0 | 0 | |
Interest expense (income) | (55,466) | (54,336) | |
Settlement expense (income) | 0 | 0 | |
Subtotal | (55,466) | (54,336) | |
Included in other comprehensive income: | |||
Demographic assumptions | 0 | 0 | |
Financial assumptions | 0 | 0 | |
Experience adjustment | 0 | 0 | |
Return on plan assets excluding interest income | 20,027 | 21,719 | |
Subtotal | 20,027 | 21,719 | |
Other: | |||
Benefits paid by the plan | 77,567 | 80,063 | |
Contributions paid into the plan | (239,570) | (252,858) | |
Settlement gain or loss | 4,053 | 0 | |
Business combination (Note 47) | (1,291) | (23,598) | |
Effect of movements in exchange rates | 0 | 0 | |
Others | 0 | 0 | |
Subtotal | (159,241) | (196,393) | |
Ending balance | ₩ (2,138,324) | ₩ (1,943,644) | |
[1] | The net defined benefit obligation of W119,458 million as of December 31, 2019 is the net defined benefit liability of W121,140 million less the net plan assets of W1,682 million. In addition, the net defined benefit obligation of W44,140 million as of December 31, 2020 is the net defined benefit liability of W62,514 million less the net plan assets of W18,374 million. |
Composition of plan assets (Det
Composition of plan assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Composition of plan assets [Abstract] | ||
Equity securities | ₩ 74,631 | ₩ 256,353 |
Debt securities | 23,713 | 28,094 |
Due from banks | 1,900,963 | 1,577,274 |
Other | 139,017 | 81,923 |
Plan assets | ₩ 2,138,324 | ₩ 1,943,644 |
Actuarial assumptions (Details)
Actuarial assumptions (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Minimum | ||
Actuarial assumptions [Line Items] | ||
Discount rate | 2.68% | 2.71% |
Future salary increase rate | 1.90% | 1.80% |
Weighted average maturity | 7.6 years | 8.2 years |
Maximum | ||
Actuarial assumptions [Line Items] | ||
Discount rate | 3.30% | 3.17% |
Future salary increase rate | 4.00% | 4.00% |
Weighted average maturity | 15.4 years | 16.2 years |
Sensitivity analysis for actuar
Sensitivity analysis for actuarial assumptions (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Discount rate | ||
Sensitivity analysis for actuarial assumptions [Line Items] | ||
Increase | ₩ (207,093) | ₩ (201,770) |
Decrease | 233,570 | 233,057 |
Future salary increase rate | ||
Sensitivity analysis for actuarial assumptions [Line Items] | ||
Increase | 232,892 | 231,967 |
Decrease | ₩ (210,305) | ₩ (204,242) |
Provisions (Details)
Provisions (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Provisions [Line Items] | |||
Provisions | ₩ 804,736 | ₩ 557,024 | |
Asset retirement | |||
Provisions [Line Items] | |||
Provisions | 65,659 | 64,922 | ₩ 49,183 |
Litigation | |||
Provisions [Line Items] | |||
Provisions | 12,468 | 8,789 | 25,554 |
Unused credit | |||
Provisions [Line Items] | |||
Provisions | 305,719 | 263,752 | |
Financial guarantee contracts | |||
Provisions [Line Items] | |||
Provisions | 83,851 | 100,430 | |
Other | |||
Provisions [Line Items] | |||
Provisions | ₩ 337,039 | ₩ 119,131 | ₩ 86,007 |
Changes in provisions (Details)
Changes in provisions (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Changes in provisions [Line Items] | |||
Beginning balance | ₩ 557,024 | ||
Ending balance | 804,736 | ₩ 557,024 | |
Provision for unused credit commitments and financial guarantee contracts issued | |||
Changes in provisions [Line Items] | |||
Beginning balance | 338,599 | 304,202 | |
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 | 75,558 | 59,077 | |
Reversed | (22,763) | (29,558) | |
Provision used | 0 | 0 | |
Foreign exchange translation | (3,154) | 2,762 | |
Others | [1] | (20,626) | 2,116 |
Ending balance | 367,614 | 338,599 | |
Unused credit commitments provision | 12-month expected credit losses | |||
Changes in provisions [Line Items] | |||
Beginning balance | 132,028 | 126,402 | |
Transfer To 12 Month Expected Credit Loss | 63,818 | 42,838 | |
Transfer To Life Time Expected Credit Loss | (9,883) | (9,286) | |
Transfer To Impaired Financial Asset | (244) | (229) | |
Reversed | (20,377) | (28,611) | |
Provision used | 0 | 0 | |
Foreign exchange translation | (1,195) | 914 | |
Others | [1] | 0 | 0 |
Ending balance | 164,147 | 132,028 | |
Unused credit commitments provision | Lifetime expected credit losses | |||
Changes in provisions [Line Items] | |||
Beginning balance | 119,839 | 100,808 | |
Transfer To 12 Month Expected Credit Loss | (55,295) | (42,728) | |
Transfer To Life Time Expected Credit Loss | 11,365 | 9,314 | |
Transfer To Impaired Financial Asset | (875) | (752) | |
Provided | 65,455 | 53,076 | |
Reversed | 0 | 0 | |
Provision used | 0 | 0 | |
Foreign exchange translation | (352) | 121 | |
Others | [1] | 0 | 0 |
Ending balance | 140,137 | 119,839 | |
Unused credit commitments provision | Financial instruments credit-impaired | |||
Changes in provisions [Line Items] | |||
Beginning balance | 11,885 | 5,137 | |
Transfer To 12 Month Expected Credit Loss | (8,523) | (110) | |
Transfer To Life Time Expected Credit Loss | (1,482) | (28) | |
Transfer To Impaired Financial Asset | 1,119 | 981 | |
Provided | 5,905 | ||
Reversed | (1,564) | 0 | |
Provision used | 0 | 0 | |
Foreign exchange translation | 0 | 0 | |
Others | [1] | 0 | 0 |
Ending balance | 1,435 | 11,885 | |
Financial guarantee contracts | |||
Changes in provisions [Line Items] | |||
Beginning balance | 100,430 | ||
Ending balance | 83,851 | 100,430 | |
Financial guarantee contracts | 12-month expected credit losses | |||
Changes in provisions [Line Items] | |||
Beginning balance | 68,467 | 64,194 | |
Transfer To 12 Month Expected Credit Loss | 2,059 | 2,629 | |
Transfer To Life Time Expected Credit Loss | (3,951) | (1,245) | |
Transfer To Impaired Financial Asset | 0 | (12) | |
Provided | 8,258 | ||
Reversed | (4) | ||
Provision used | 0 | 0 | |
Foreign exchange translation | (1,335) | 1,302 | |
Others | [1] | (18,948) | 1,603 |
Ending balance | 54,550 | 68,467 | |
Financial guarantee contracts | Lifetime expected credit losses | |||
Changes in provisions [Line Items] | |||
Beginning balance | 5,569 | 5,904 | |
Transfer To 12 Month Expected Credit Loss | (2,059) | (2,629) | |
Transfer To Life Time Expected Credit Loss | 3,951 | 1,245 | |
Transfer To Impaired Financial Asset | 0 | 0 | |
Provided | 1,845 | 96 | |
Reversed | 0 | 0 | |
Provision used | 0 | 0 | |
Foreign exchange translation | (223) | 323 | |
Others | [1] | (1,748) | 630 |
Ending balance | 7,335 | 5,569 | |
Financial guarantee contracts | Financial instruments credit-impaired | |||
Changes in provisions [Line Items] | |||
Beginning balance | 811 | 1,757 | |
Transfer To 12 Month Expected Credit Loss | 0 | 0 | |
Transfer To Life Time Expected Credit Loss | 0 | 0 | |
Transfer To Impaired Financial Asset | 0 | 12 | |
Reversed | (822) | (943) | |
Provision used | 0 | 0 | |
Foreign exchange translation | (49) | 102 | |
Others | [1] | 70 | (117) |
Ending balance | 10 | 811 | |
Other provisions | |||
Changes in provisions [Line Items] | |||
Beginning balance | 218,425 | 204,214 | |
Provided | 267,198 | 0 | |
Reversed | (2,709) | (27,343) | |
Provision used | (49,755) | (66,512) | |
Foreign exchange translation | (463) | 1,802 | |
Others | [1] | 4,231 | 8,282 |
Business combination (Note 47) | 195 | 97,982 | |
Ending balance | 437,122 | 218,425 | |
Asset retirement | |||
Changes in provisions [Line Items] | |||
Beginning balance | 64,922 | 49,183 | |
Provided | 898 | ||
Reversed | 0 | (1,280) | |
Provision used | (2,463) | (1,930) | |
Foreign exchange translation | (3) | 0 | |
Others | [1] | 2,305 | 4,476 |
Business combination (Note 47) | 0 | 14,473 | |
Ending balance | 65,659 | 64,922 | |
Litigation | |||
Changes in provisions [Line Items] | |||
Beginning balance | 8,789 | 25,554 | |
Provided | 4,317 | ||
Reversed | 0 | (981) | |
Provision used | (638) | (17,365) | |
Foreign exchange translation | 0 | 0 | |
Others | [1] | 0 | 0 |
Business combination (Note 47) | 0 | 1,581 | |
Ending balance | 12,468 | 8,789 | |
Guarantee | |||
Changes in provisions [Line Items] | |||
Beginning balance | 25,583 | 43,470 | |
Provided | 0 | ||
Reversed | (2,709) | (19,329) | |
Provision used | 0 | 0 | |
Foreign exchange translation | (1,030) | 1,420 | |
Others | [1] | 112 | 22 |
Business combination (Note 47) | 0 | 0 | |
Ending balance | 21,956 | 25,583 | |
Other | |||
Changes in provisions [Line Items] | |||
Beginning balance | 119,131 | 86,007 | |
Provided | 261,983 | ||
Reversed | 0 | (5,753) | |
Provision used | (46,654) | (47,217) | |
Foreign exchange translation | 570 | 382 | |
Others | [1] | 1,814 | 3,784 |
Business combination (Note 47) | 195 | 81,928 | |
Ending balance | ₩ 337,039 | ₩ 119,131 | |
[1] | 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, 2020 | Dec. 31, 2019 |
Allowance for guarantees and acceptances [Abstract] | ||
Outstanding guarantees and acceptances | ₩ 10,249,827 | ₩ 9,319,885 |
Contingent guarantees and acceptances | 3,433,953 | 3,669,697 |
ABS and ABCP purchase commitments | 1,604,958 | 2,116,354 |
Endorsed bill | 1,650 | 11,287 |
Total Guarantees and acceptances | 15,290,388 | 15,117,223 |
Allowance for loss on guarantees and acceptances | ₩ 83,851 | ₩ 100,430 |
Ratio | 0.55% | 0.66% |
Liability under insurance con_3
Liability under insurance contracts (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Liability under insurance contracts [Abstract] | ||
Policy reserve | ₩ 53,391,401 | ₩ 52,086,132 |
Policyholder's equity adjustment | 68,829 | 77,285 |
Total Insurance liabilities | ₩ 53,460,230 | ₩ 52,163,417 |
Policy reserve (Details)
Policy reserve (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Policy reserve [Abstract] | ||
Interest rate linked | ₩ 29,977,303 | ₩ 30,058,020 |
Fixed interest rate | 23,414,098 | 22,028,112 |
Policy reserve, total | ₩ 53,391,401 | ₩ 52,086,132 |
The details of policy reserves
The details of policy reserves (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Details of policy reserves [Line Items] | ||
Premium reserve | ₩ 51,232,644 | ₩ 50,113,972 |
Guarantee reserve | 296,084 | 279,989 |
Unearned premium reserve | 1,654 | 1,238 |
Reserve for outstanding claims | 1,730,448 | 1,547,230 |
Interest rate difference guarantee reserve | 2,087 | 2,317 |
Mortality gains reserve | 45,543 | 51,273 |
Interest gains reserve | 23,921 | 24,770 |
Expense gains reserve | 14,942 | 15,646 |
Long term duration dividend reserve | 42,524 | 46,603 |
Reserve for policyholder's profit dividend | 1,080 | 2,268 |
Reserve for losses on dividend insurance contract | 474 | 826 |
Policy reserve, total | 53,391,401 | 52,086,132 |
Individual insurance | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 51,214,152 | 50,092,000 |
Guarantee reserve | 296,084 | 279,989 |
Unearned premium reserve | 1,641 | 947 |
Reserve for outstanding claims | 1,715,064 | 1,530,372 |
Interest rate difference guarantee reserve | 2,087 | 2,317 |
Mortality gains reserve | 45,542 | 51,271 |
Interest gains reserve | 23,921 | 24,770 |
Expense gains reserve | 14,942 | 15,646 |
Long term duration dividend reserve | 42,524 | 46,603 |
Reserve for policyholder's profit dividend | 1,080 | 2,268 |
Reserve for losses on dividend insurance contract | 474 | 826 |
Policy reserve, total | 53,357,511 | 52,047,009 |
Pure endowment | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 14,597,735 | 14,668,777 |
Guarantee reserve | 28,168 | 29,400 |
Unearned premium reserve | 1 | 2 |
Reserve for outstanding claims | 240,324 | 212,641 |
Interest rate difference guarantee reserve | 1,937 | 2,158 |
Mortality gains reserve | 7,865 | 8,945 |
Interest gains reserve | 23,651 | 24,486 |
Expense gains reserve | 6,606 | 6,211 |
Long term duration dividend reserve | 28,737 | 31,202 |
Reserve for policyholder's profit dividend | 1,080 | 2,268 |
Reserve for losses on dividend insurance contract | 474 | 826 |
Policy reserve, total | 14,936,578 | 14,986,916 |
Death | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 26,634,537 | 24,979,936 |
Guarantee reserve | 267,154 | 249,845 |
Unearned premium reserve | 1,640 | 945 |
Reserve for outstanding claims | 1,111,052 | 1,084,472 |
Interest rate difference guarantee reserve | 141 | 149 |
Mortality gains reserve | 37,553 | 42,173 |
Interest gains reserve | 256 | 267 |
Expense gains reserve | 8,336 | 9,434 |
Long term duration dividend reserve | 13,775 | 15,388 |
Reserve for policyholder's profit dividend | 0 | 0 |
Reserve for losses on dividend insurance contract | 0 | 0 |
Policy reserve, total | 28,074,444 | 26,382,609 |
Endowment | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 9,981,880 | 10,443,287 |
Guarantee reserve | 762 | 744 |
Unearned premium reserve | 0 | 0 |
Reserve for outstanding claims | 363,688 | 233,259 |
Interest rate difference guarantee reserve | 9 | 10 |
Mortality gains reserve | 124 | 153 |
Interest gains reserve | 14 | 17 |
Expense gains reserve | 0 | 1 |
Long term duration dividend reserve | 12 | 13 |
Reserve for policyholder's profit dividend | 0 | 0 |
Reserve for losses on dividend insurance contract | 0 | 0 |
Policy reserve, total | 10,346,489 | 10,677,484 |
Group insurance | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 18,492 | 21,972 |
Guarantee reserve | 0 | 0 |
Unearned premium reserve | 13 | 291 |
Reserve for outstanding claims | 15,384 | 16,858 |
Interest rate difference guarantee reserve | 0 | 0 |
Mortality gains reserve | 1 | 2 |
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 | 33,890 | 39,123 |
Pure protection | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 18,430 | 21,912 |
Guarantee reserve | 0 | 0 |
Unearned premium reserve | 13 | 291 |
Reserve for outstanding claims | 15,384 | 16,858 |
Interest rate difference guarantee reserve | 0 | 0 |
Mortality gains reserve | 1 | 2 |
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 | 33,828 | 39,063 |
Savings | ||
Details of policy reserves [Line Items] | ||
Premium reserve | 62 | 60 |
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 | ₩ 62 | ₩ 60 |
Changes in policy reserves (Det
Changes in policy reserves (Details) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020KRW (₩) | ||
Changes in policy reserves [Line Items] | ||
Beginning Balance | ₩ 52,086,132 | |
Reserve | 1,305,269 | [1] |
Ending Balance | 53,391,401 | |
Insurance contracts with fixed-interest | ||
Changes in policy reserves [Line Items] | ||
Beginning Balance | 22,028,112 | |
Reserve | 1,385,986 | [1] |
Ending Balance | 23,414,098 | |
Insurance contracts with variable-interest | ||
Changes in policy reserves [Line Items] | ||
Beginning Balance | 30,058,020 | |
Reserve | (80,717) | [1] |
Ending Balance | ₩ 29,977,303 | |
[1] | This is the amount of provision for insurance contract liabilities less changes in reinsurance assets. |
Changes in policy reserves by i
Changes in policy reserves by insurance risk classification (Details) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020KRW (₩) | ||
Changes in policy reserves by insurance risk classification [Line Items] | ||
Beginning Balance | ₩ 52,086,132 | |
Reserve (reversal) | 1,305,269 | [1] |
Ending Balance | 53,391,401 | |
Individual insurance | ||
Changes in policy reserves by insurance risk classification [Line Items] | ||
Beginning Balance | 52,047,009 | |
Reserve (reversal) | 1,310,502 | [1] |
Ending Balance | 53,357,511 | |
Pure endowment | ||
Changes in policy reserves by insurance risk classification [Line Items] | ||
Beginning Balance | 14,986,916 | |
Reserve (reversal) | (50,338) | [1] |
Ending Balance | 14,936,578 | |
Death | ||
Changes in policy reserves by insurance risk classification [Line Items] | ||
Beginning Balance | 26,382,609 | |
Reserve (reversal) | 1,691,835 | [1] |
Ending Balance | 28,074,444 | |
Endowment | ||
Changes in policy reserves by insurance risk classification [Line Items] | ||
Beginning Balance | 10,677,484 | |
Reserve (reversal) | (330,995) | [1] |
Ending Balance | 10,346,489 | |
Group insurance | ||
Changes in policy reserves by insurance risk classification [Line Items] | ||
Beginning Balance | 39,123 | |
Reserve (reversal) | (5,233) | [1] |
Ending Balance | 33,890 | |
Pure protection | ||
Changes in policy reserves by insurance risk classification [Line Items] | ||
Beginning Balance | 39,063 | |
Reserve (reversal) | (5,235) | [1] |
Ending Balance | 33,828 | |
Savings | ||
Changes in policy reserves by insurance risk classification [Line Items] | ||
Beginning Balance | 60 | |
Reserve (reversal) | 2 | [1] |
Ending Balance | ₩ 62 | |
[1] | This is the amount of provision for insurance contract liabilities less changes in reinsurance assets. |
Reinsurance credit risk (Detail
Reinsurance credit risk (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Reinsurance credit risk | ||
Reinsurance credit risk [Line Items] | ||
Reinsurance assets | ₩ 42,280 | ₩ 48,262 |
Reinsurance account receivable | 75,056 | 68,607 |
AAA | ||
Reinsurance credit risk [Line Items] | ||
Reinsurance assets | 10,611 | 11,477 |
Reinsurance account receivable | 47,690 | 18,192 |
AA- to AA+ | ||
Reinsurance credit risk [Line Items] | ||
Reinsurance assets | 29,294 | 34,498 |
Reinsurance account receivable | 23,348 | 46,302 |
A- to A+ | ||
Reinsurance credit risk [Line Items] | ||
Reinsurance assets | 2,375 | 2,287 |
Reinsurance account receivable | ₩ 4,018 | ₩ 4,113 |
Income or expenses on insurance
Income or expenses on insurance (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Insurance income: | ||||
Premium income | ₩ 7,037,308 | ₩ 7,386,854 | ₩ 4,348,745 | |
Reinsurance income | 152,892 | 146,564 | 15,222 | |
Separate account income | 57,553 | 36,007 | 34,771 | |
Insurance Income total | 7,247,753 | 7,569,425 | 4,398,738 | |
Insurance expenses: | ||||
Claims paid | (5,564,875) | (5,436,069) | (2,549,147) | |
Reinsurance premium expenses | (167,215) | (165,979) | (18,482) | |
Provision for policy reserves | [1] | (1,311,252) | (1,724,816) | (1,694,716) |
Separate account expenses | (57,553) | (36,007) | (34,770) | |
Discount charge | (1,087) | (657) | (669) | |
Acquisition costs | (802,942) | (805,508) | (454,479) | |
Collection expenses | (18,835) | (19,049) | (16,046) | |
Deferred acquisition costs | 486,972 | 495,534 | 283,665 | |
Amortization of deferred acquisition costs | (414,898) | (373,800) | (385,793) | |
Insurance expenses total | (7,851,685) | (8,066,351) | (4,870,437) | |
Net loss on insurance | ₩ (603,932) | ₩ (496,926) | ₩ (471,699) | |
[1] | Interest expenses on savings insurance contracts are included. (Accumulated W 964,816 million as of December 31, 2018, accumulated W 1,907,954 million as of December 31, 2019 and accumulated W 1,866,609 million as of December 31, 2020) |
Maturity of premium reserve (De
Maturity of premium reserve (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | ₩ 23,931,706 | ₩ 21,160,256 |
Interest rate linked | 27,300,938 | 28,953,716 |
Ending balance | 51,232,644 | 50,113,972 |
Less than 1 year | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 164,890 | 213,892 |
Interest rate linked | 929,268 | 845,304 |
Ending balance | 1,094,158 | 1,059,196 |
1 ~ 3 Years | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 418,574 | 329,647 |
Interest rate linked | 1,944,710 | 2,079,125 |
Ending balance | 2,363,284 | 2,408,772 |
3 ~ 7 Years | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 983,635 | 1,032,366 |
Interest rate linked | 1,819,554 | 2,118,652 |
Ending balance | 2,803,189 | 3,151,018 |
7 ~ 10 Years | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 594,667 | 572,153 |
Interest rate linked | 820,964 | 941,413 |
Ending balance | 1,415,631 | 1,513,566 |
10 ~ 20 Years | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 2,090,669 | 2,058,859 |
Interest rate linked | 2,056,906 | 2,236,313 |
Ending balance | 4,147,575 | 4,295,172 |
More than 20 Years | ||
Maturity of premium reserve [Line Items] | ||
Fixed interest rate | 19,679,271 | 16,953,339 |
Interest rate linked | 19,729,536 | 20,732,909 |
Ending balance | ₩ 39,408,807 | ₩ 37,686,248 |
The result of liability adequac
The result of liability adequacy test (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Shinhan Life Insurance Co., Ltd. | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | ₩ 23,366,310 | ₩ 22,741,364 |
LAT base | 18,777,576 | 18,594,581 |
Premium loss (surplus) | 4,588,734 | 4,146,783 |
Shinhan Life Insurance Co., Ltd. | Variable type | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 165,259 | 155,751 |
LAT base | 36,127 | 33,678 |
Premium loss (surplus) | 129,132 | 122,073 |
Shinhan Life Insurance Co., Ltd. | Participating | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 7,829,275 | 7,203,538 |
LAT base | 4,845,403 | 4,476,050 |
Premium loss (surplus) | 2,983,872 | 2,727,488 |
Shinhan Life Insurance Co., Ltd. | Participating | Fixed interest | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 598,793 | 595,317 |
LAT base | 1,301,878 | 1,307,717 |
Premium loss (surplus) | (703,085) | (712,400) |
Shinhan Life Insurance Co., Ltd. | Participating | Variable interest | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 7,230,482 | 6,608,221 |
LAT base | 3,543,525 | 3,168,333 |
Premium loss (surplus) | 3,686,957 | 3,439,888 |
Shinhan Life Insurance Co., Ltd. | Non-Participating | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 15,371,776 | 15,382,075 |
LAT base | 13,896,046 | 14,084,853 |
Premium loss (surplus) | 1,475,730 | 1,297,222 |
Shinhan Life Insurance Co., Ltd. | Non-Participating | Fixed interest | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 915,382 | 900,378 |
LAT base | 1,013,181 | 1,039,624 |
Premium loss (surplus) | (97,799) | (139,246) |
Shinhan Life Insurance Co., Ltd. | Non-Participating | Variable interest | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 14,456,394 | 14,481,697 |
LAT base | 12,882,865 | 13,045,229 |
Premium loss (surplus) | 1,573,529 | 1,436,468 |
Orange Life Insurance Co., Ltd. | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 21,156,900 | 20,329,667 |
LAT base | 14,308,067 | 14,699,665 |
Premium loss (surplus) | 6,848,833 | 5,630,002 |
Orange Life Insurance Co., Ltd. | Participating | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 1,920,421 | 1,850,852 |
LAT base | 2,343,609 | 2,317,538 |
Premium loss (surplus) | (423,188) | (466,686) |
Orange Life Insurance Co., Ltd. | Participating | Fixed interest | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 745,614 | 716,607 |
LAT base | 694,536 | 697,291 |
Premium loss (surplus) | 51,078 | 19,316 |
Orange Life Insurance Co., Ltd. | Participating | Variable interest | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 1,174,807 | 1,134,245 |
LAT base | 1,649,073 | 1,620,247 |
Premium loss (surplus) | (474,266) | (486,002) |
Orange Life Insurance Co., Ltd. | Non-Participating | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 19,236,479 | 18,478,815 |
LAT base | 11,964,458 | 12,382,127 |
Premium loss (surplus) | 7,272,021 | 6,096,688 |
Orange Life Insurance Co., Ltd. | Non-Participating | Fixed interest | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 10,061,004 | 9,296,542 |
LAT base | 4,810,110 | 5,150,200 |
Premium loss (surplus) | 5,250,894 | 4,146,342 |
Orange Life Insurance Co., Ltd. | Non-Participating | Variable interest | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | 9,190,507 | 9,236,730 |
LAT base | 8,743,848 | 8,924,855 |
Premium loss (surplus) | 446,659 | 311,875 |
Orange Life Insurance Co., Ltd. | Non-Participating | Performance allocation type | ||
The result of liability adequacy test [Line Items] | ||
Provisions for test | (15,032) | (54,457) |
LAT base | (1,589,500) | (1,692,928) |
Premium loss (surplus) | ₩ 1,574,468 | ₩ 1,638,471 |
Other liabilities (Details)
Other liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other liabilities [Abstract] | ||||
Lease liabilities | [1] | ₩ 594,161 | ₩ 1,104,259 | |
Accounts payable | 14,568,962 | 11,894,764 | ₩ 9,748,168 | |
Accrued expenses | 3,054,247 | 3,502,538 | ||
Dividend payable | 32,508 | 31,599 | ||
Advance received | 164,885 | 173,850 | ||
Unearned income | 317,283 | 294,710 | 236,827 | |
Withholding value-added tax and other taxes | 692,719 | 720,053 | ||
Securities deposit received | 2,198,722 | 1,903,119 | ||
Foreign exchange settlement pending | 259,138 | 243,532 | ||
Domestic exchange settlement pending | 5,745,338 | 1,452,955 | ||
Payable from trust account | 5,086,459 | 5,350,285 | ||
Due to agencies | 790,486 | 744,660 | ||
Deposits for subscription | 148,506 | 60,500 | ||
Separate account liabilities | 10,120,258 | 8,700,695 | ||
Sundry liabilities | 1,617,449 | 1,968,823 | ₩ 2,496,169 | |
Others | 185,027 | 151,056 | ||
Present value discount | (49,935) | (59,840) | ||
Other liabilities | ₩ 45,526,213 | ₩ 38,237,558 | ||
[1] | As of December 31, 2020, the Group accounts the lease liabilities as other liabilities. For the year ended December 31, 2020, the amount of variable lease payments that are not included in the measurement of lease liabilities is W 114 million, cash outflows from leases are W 788,532 million, and interest expense on lease liabilities is W 14,504 million. |
Equity (Details)
Equity (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Capital stock: | ||||
Common stock | [1] | ₩ 2,608,176 | ₩ 2,370,998 | |
Preferred stock | 361,465 | 361,465 | ||
Capital stock | 2,969,641 | 2,732,463 | ||
Hybrid bonds | 2,179,934 | 1,731,235 | ||
Capital surplus: | ||||
Share premium | 11,352,924 | 10,155,150 | ||
Others | 882,015 | 410,203 | ||
Capital surplus | 12,234,939 | 10,565,353 | ||
Capital adjustments | (687,935) | (1,116,770) | ₩ (552,895) | |
Accumulated other comprehensive income, net of tax: | ||||
Gain on financial assets at fair value through other comprehensive income | 226,811 | 306,470 | ||
Gain (Loss) on financial assets at fair value through profit or loss (overlay approach) | 161,919 | 71,621 | ||
Equity in other comprehensive income of associates | 4,849 | 8,177 | ||
Foreign currency translation adjustments for foreign operations | (377,061) | (217,465) | ||
Net loss from cash flow hedges | (48,171) | (33,711) | ||
Other comprehensive income of separate account | 18,423 | 14,539 | ||
Actuarial gains (losses) | (385,780) | (401,532) | ||
Changes in own credit risk on financial liabilities designated under fair value option | (5,171) | (8,255) | ||
Accumulated other comprehensive income, net of tax | (404,181) | (260,156) | ||
Retained earnings | [2],[3],[4] | 27,777,169 | 25,525,821 | |
Non-controlling interests | [5],[6] | 2,287,291 | 2,752,435 | |
Total equity | ₩ 46,356,858 | ₩ 41,930,381 | ||
[1] | For the year ended December 31, 2020, it increased due to common stock and third-party allocation paid-in capital increase issued when the Group acquired residual shares of Orange Life Insurance Co., Ltd and Neoplux Co, Ltd. The cost deducted from the issuing capital is W13,300 million. Affinity Equity Partners and Baring Private Equity Asia who have participated in third-party allocation-based capital increase have a right to practically appoint one director, respectively. | |||
[2] | As of December 31, 2019 and 2020, profits reserved by the Group as of Article 53 of the Financial Holding Companies Act amounted to W2,191,677 million and W2,304,595 million, respectively. | |||
[3] | As of December 31, 2019 and 2020, the regulatory reserves for loan losses the Group appropriated in retained earnings are W8,728 million and W11,988 million, respectively. | |||
[4] | As of December 31, 2020, profit dividends within retained earnings of subsidiaries of the Group subject to a restricted dividend in accordance with laws, etc. are amounted to W6,824,002 million. | |||
[5] | As of December 31, 2019 and 2020, the total amounts of hybrid bonds that Shinhan Bank, Jeju Bank and Shinhan Capital have recognized as non-controlling interests are W1,147,635 million and W2,035,762 million, respectively. And, for the years ended December 31, 2019 and 2020, the amounts of dividends paid for the hybrid bonds by Shinhan Bank, Jeju Bank, and Shinhan Capital, W36,729 million and W54,619 million, respectively, are allocated to profit attributed to non-controlling interest. | |||
[6] | The non-controlling interest of W1,330,337 million decreased due to taking over for Orange Life Insurance Co.,Ltd. for the year ended December 31, 2020. |
Capital stock of the Group (Det
Capital stock of the Group (Details) - ₩ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Capital stock of the Group [Line Items] | |||
Number of shares issued | 533,376,758 | ||
Common stocks | |||
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 shares issued | 516,599,554 | 474,199,587 | |
Preferred stocks | |||
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 shares issued | 17,482,000 | 17,482,000 | |
Contracted dividend rate | 4.0% per year based on issue price (non-cumulative participating) | ||
Conversion request period | [1] | 2020.05.01~2023.04.30 | |
[1] | Preferred stocks that have not been converted for 4 years from the issuance date and until the expiration date of the period of existence are automatically converted to common stocks at the expiration date of the period of existence. |
The details of changes in the a
The details of changes in the average number of common shares outstanding (Details) | 12 Months Ended |
Dec. 31, 2020shares | |
Changes in number of shares outstanding [Abstract] | |
Number of shares outstanding at beginning of period | 460,317,525 |
Increase of shares outstanding | 60,626,827 |
Decrease of shares outstanding | (5,049,594) |
Number of shares outstanding at end of period | 515,894,758 |
Hybrid bond (Details)
Hybrid bond (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Hybrid bond [Line Items] | ||
Currency | KRW, USD | KRW, USD |
Amount | ₩ 2,179,934 | ₩ 1,731,235 |
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 | KRW |
Amount | ₩ 199,476 | ₩ 199,476 |
Issue date | Jun. 28, 2019 | Jun. 28, 2019 |
Interest rate (%) | 3.27% | 3.27% |
10th | ||
Hybrid bond [Line Items] | ||
Currency | KRW | |
Amount | ₩ 448,699 | |
Issue date | Sep. 17, 2020 | |
Interest rate (%) | 3.12% |
Capital adjustments (Details)
Capital adjustments (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Capital adjustments [Abstract] | |||
Beginning balance | ₩ (1,116,770) | ₩ (552,895) | |
Acquisition of treasury stock | (150,467) | (444,077) | ₩ (155,923) |
Disposal and Retirement of treasury stocks | 601,809 | 0 | |
Acquisition commitment amount for subsidiaries' remaining shares | (22,019) | (125,830) | |
Other transactions with owners | (488) | 6,032 | |
Ending balance | ₩ (687,935) | ₩ (1,116,770) | ₩ (552,895) |
Accumulated other comprehensive
Accumulated other comprehensive income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | ₩ (260,156) | ₩ (753,220) |
Change due to fair value | 97,138 | 743,697 |
Reclassification: | ||
Change due to impairment or disposal | (85,474) | (23,281) |
Effect of hedge accounting | 144,750 | (75,020) |
Hedging | (124,020) | (9) |
Effects from exchange rate fluctuations | (218,866) | 148,192 |
Remeasurements of the defined benefit plans | 21,422 | (75,595) |
Deferred income taxes | (8,794) | (152,074) |
Transfer To Other Account | 27,825 | 5,860 |
Non-controlling interests | 1,994 | (78,706) |
Ending balance | (404,181) | (260,156) |
Items that are or may be reclassified to profit or loss | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | 76,505 | (460,958) |
Change due to fair value | 125,975 | 735,394 |
Reclassification: | ||
Change due to impairment or disposal | (99,416) | (23,281) |
Effect of hedge accounting | 144,750 | (75,020) |
Hedging | (124,020) | (9) |
Effects from exchange rate fluctuations | (219,587) | 147,899 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | 553 | (169,020) |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 2,054 | (78,500) |
Ending balance | (93,186) | 76,505 |
Gain(loss) on financial asset at fair value through other comprehensive income | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | 233,328 | (51,300) |
Change due to fair value | (3,601) | 491,953 |
Reclassification: | ||
Change due to impairment or disposal | (105,274) | (23,281) |
Effect of hedge accounting | 0 | 0 |
Hedging | (4,395) | (731) |
Effects from exchange rate fluctuations | 0 | 0 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | 26,486 | (115,856) |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 285 | (67,457) |
Ending balance | 146,829 | 233,328 |
Gain (loss) on valuation of financial asset measured at FVTPL (overlay approach) | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | 71,621 | (79,057) |
Change due to fair value | 125,298 | 225,706 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | 74 | 0 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | (35,074) | (62,739) |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 0 | (12,289) |
Ending balance | 161,919 | 71,621 |
Equity in other comprehensive income of associates | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | 8,193 | 4,891 |
Change due to fair value | (1,080) | 3,353 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | (355) | 0 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | (1,883) | (51) |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 0 | 0 |
Ending balance | 4,875 | 8,193 |
Foreign currency translation adjustments for foreign operations | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (217,465) | (321,853) |
Change due to fair value | 0 | 0 |
Reclassification: | ||
Change due to impairment or disposal | 5,858 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 45,083 | (49,361) |
Effects from exchange rate fluctuations | (219,306) | 147,899 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | 7,000 | 7,233 |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 1,769 | (1,383) |
Ending balance | (377,061) | (217,465) |
Net loss from cash flow hedges | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (33,711) | (17,751) |
Change due to fair value | 0 | 0 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 144,750 | (75,020) |
Hedging | (164,708) | 50,083 |
Effects from exchange rate fluctuations | 0 | 0 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | 5,498 | 6,348 |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 0 | 2,629 |
Ending balance | (48,171) | (33,711) |
Other comprehensive income of separate account | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | 14,539 | 4,112 |
Change due to fair value | 5,358 | 14,382 |
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 | (1,474) | (3,955) |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 0 | 0 |
Ending balance | 18,423 | 14,539 |
Items that will never be reclassified to profit or loss | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (336,661) | (292,262) |
Change due to fair value | (28,837) | 8,303 |
Reclassification: | ||
Change due to impairment or disposal | 13,942 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | 721 | 293 |
Remeasurements of the defined benefit plans | 21,422 | (75,595) |
Deferred income taxes | (9,347) | 16,946 |
Transfer To Other Account | 27,825 | 5,860 |
Non-controlling interests | (60) | (206) |
Ending balance | (310,995) | (336,661) |
Remeasurements of the defined benefit plans | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (401,532) | (346,682) |
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 | 21,422 | (75,595) |
Deferred income taxes | (5,610) | 20,951 |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | (60) | (206) |
Ending balance | (385,780) | (401,532) |
Equity in other comprehensive income of associates | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (16) | (8) |
Change due to fair value | (15) | (11) |
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 | 5 | 3 |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 0 | 0 |
Ending balance | (26) | (16) |
Gain (loss) on financial asset at fair value through other comprehensive income | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | 73,142 | 54,258 |
Change due to fair value | (19,133) | 19,935 |
Reclassification: | ||
Change due to impairment or disposal | 0 | 0 |
Effect of hedge accounting | 0 | 0 |
Hedging | 0 | 0 |
Effects from exchange rate fluctuations | 721 | 293 |
Remeasurements of the defined benefit plans | 0 | 0 |
Deferred income taxes | (2,573) | (7,204) |
Transfer To Other Account | 27,825 | 5,860 |
Non-controlling interests | 0 | 0 |
Ending balance | 79,982 | 73,142 |
Changes in own credit risk on financial liabilities designated under fair value option | ||
Accumulated other comprehensive income [Line Items] | ||
Beginning balance | (8,255) | 170 |
Change due to fair value | (9,689) | (11,621) |
Reclassification: | ||
Change due to impairment or disposal | 13,942 | 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 | (1,169) | 3,196 |
Transfer To Other Account | 0 | 0 |
Non-controlling interests | 0 | 0 |
Ending balance | ₩ (5,171) | ₩ (8,255) |
Appropriation of retained earni
Appropriation of retained earnings (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Appropriation of retained earnings [Line Items] | ||||
Balance at beginning of year | [1],[2],[3] | ₩ 25,525,821 | ||
Dividends to hybrid bonds | (85,327) | ₩ (61,993) | ₩ (40,357) | |
Net income | 3,498,076 | 3,642,384 | 3,198,265 | |
Unappropriated retained earnings to be carried over to subsequent year | [1],[2],[3] | 27,777,169 | 25,525,821 | |
Parent Company only | ||||
Appropriation of retained earnings [Line Items] | ||||
Balance at beginning of year | 5,251,413 | 5,184,339 | ||
Retirement of treasury stock | (150,325) | 0 | ||
Dividends to hybrid bonds | (85,327) | (61,993) | ||
Net income | 1,274,443 | 1,129,173 | 1,234,883 | |
Unappropriated retained earnings | 6,290,204 | 6,251,519 | ||
Legal reserve | (127,444) | (112,917) | ||
Dividends on common stocks paid | (773,839) | (851,587) | ||
Dividends on preferred stocks paid | (29,999) | (32,342) | ||
Regulatory reserve for loan losses | (3,564) | (3,260) | ||
Appropriation of retained earnings | (934,846) | (1,000,106) | ||
Unappropriated retained earnings to be carried over to subsequent year | ₩ 5,355,358 | ₩ 5,251,413 | ₩ 5,184,339 | |
Date of appropriation | Mar. 25, 2021 | Mar. 26, 2020 | ||
[1] | As of December 31, 2019 and 2020, profits reserved by the Group as of Article 53 of the Financial Holding Companies Act amounted to W2,191,677 million and W2,304,595 million, respectively. | |||
[2] | As of December 31, 2019 and 2020, the regulatory reserves for loan losses the Group appropriated in retained earnings are W8,728 million and W11,988 million, respectively. | |||
[3] | As of December 31, 2020, profit dividends within retained earnings of subsidiaries of the Group subject to a restricted dividend in accordance with laws, etc. are amounted to W6,824,002 million. |
Changes in regulatory reserve f
Changes in regulatory reserve for loan losses (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Changes in regulatory reserve for loan losses [Abstract] | ||
Beginning balance | ₩ 3,161,170 | ₩ 2,844,690 |
Business Combination | 0 | 25,608 |
Planned regulatory reversal of loan losses | 168,729 | 290,872 |
Ending balance | ₩ 3,329,899 | ₩ 3,161,170 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
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 | [1] | ₩ 3,414,595 | ₩ 3,403,497 | ₩ 3,156,722 |
Provision for regulatory reserve for loan losses | (177,620) | (292,728) | ||
Profit attributable to equity holders of Shinhan Financial Group after adjusted for regulatory reserve | ₩ 3,236,975 | ₩ 3,110,769 | ||
Basic and diluted earnings per share after adjusted for regulatory reserve in won | [2] | ₩ 6,299 | ₩ 6,387 | |
[1] | The increase in reserve for credit losses, W25,608 million, due to the business combination with Orange Life insurance and Asia Trust for the year ended December 31, 2019 is excluded. | |||
[2] | Dividends for hybrid bonds are deducted. |
Acquisition of treasury stock (
Acquisition of treasury stock (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Acquisition Of Treasury Stock [Line Items] | |||
Acquisition of treasury stock | ₩ 150,467 | ₩ 444,077 | ₩ 155,923 |
Carrying value | |||
Acquisition Of Treasury Stock [Line Items] | |||
Beginning balance | 600,000 | 155,923 | |
Acquisition of treasury stock | 150,467 | 444,077 | |
Disposal of treasury stock | (572,252) | 0 | |
Retirement of treasury stock | (150,000) | 0 | |
Ending balance | ₩ 28,215 | ₩ 600,000 | ₩ 155,923 |
Number of share | |||
Acquisition Of Treasury Stock [Line Items] | |||
Beginning number of share | 13,882,062 | 3,648,659 | |
Number of treasury shares acquired | 5,049,594 | 10,233,403 | |
Number of treasury shares disposed | 13,191,202 | 0 | |
Number of treasury shares retired | 5,035,658 | 0 | |
Ending number of share | 704,796 | 13,882,062 | 3,648,659 |
Details of dividends recognized
Details of dividends recognized as distributions to stockholders (Details) - KRW (₩) ₩ / shares in Units, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Details of dividends recognized as distributions to stockholders [Line Items] | |||
Total number of shares issued and outstanding | 533,376,758 | ||
Common stocks | |||
Details of dividends recognized as distributions to stockholders [Line Items] | |||
Total number of shares issued and outstanding | 516,599,554 | 474,199,587 | |
Par value per share in won | ₩ 5,000 | ₩ 5,000 | |
Common stocks: | |||
Dividend per share in won | ₩ 1,500 | ₩ 1,850 | |
Dividends | [1] | ₩ 773,839 | ₩ 851,587 |
Preferred stocks: | |||
Dividend rate per share (%) | 30.00% | 37.00% | |
Preferred stocks | |||
Details of dividends recognized as distributions to stockholders [Line Items] | |||
Total number of shares issued and outstanding | 17,482,000 | 17,482,000 | |
Par value per share in won | ₩ 5,000 | ₩ 5,000 | |
Preferred stocks: | |||
Dividend per share in won | ₩ 1,716 | ₩ 1,850 | |
Dividends | ₩ 29,999 | ₩ 32,342 | |
Dividend rate per share (%) | 34.30% | 37.00% | |
[1] | Dividends on own shares held by the Group are excluded. |
Dividend for hybrid bond (Detai
Dividend for hybrid bond (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Dividend for hybrid bond [Abstract] | |||
Amount of hybrid bond | ₩ 2,188,150 | ₩ 1,738,150 | |
Maximum Interest rate (%) | 5.88% | 5.88% | |
Minimum Interest rate (%) | 3.12% | 3.27% | |
Dividends | ₩ 85,327 | ₩ 61,993 | ₩ 40,357 |
Net interest income (Details)
Net interest income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest income: | |||
Cash and deposits at amortized cost | ₩ 128,023 | ₩ 210,415 | ₩ 155,075 |
Deposits at FVTPL | 13,888 | 31,506 | 33,845 |
Securities at FVTPL | 742,958 | 740,378 | 623,651 |
Securities at FVOCI | 957,817 | 1,077,995 | 759,301 |
Securities at amortized cost | 1,076,849 | 1,061,262 | 730,382 |
Loans at amortized cost | 11,697,775 | 12,435,302 | 11,158,558 |
Loans at FVTPL | 73,991 | 56,961 | 23,110 |
Others | 82,695 | 93,543 | 88,534 |
Interest income | 14,773,996 | 15,707,362 | 13,572,456 |
Interest expense: | |||
Deposits | (2,842,625) | (3,644,632) | (3,091,659) |
Borrowings | (426,607) | (551,416) | (468,068) |
Debt securities issued | (1,554,544) | (1,666,257) | (1,336,840) |
Others | (67,520) | (107,093) | (95,800) |
Interest expense | (4,891,296) | (5,969,398) | (4,992,367) |
Net interest income | ₩ 9,882,700 | ₩ 9,737,964 | ₩ 8,580,089 |
Net fees and commission incom_2
Net fees and commission income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Fees and commission income: | ||||
Credit placement fees | ₩ 94,836 | ₩ 66,666 | ₩ 62,766 | |
Commission received as electronic charge receipt | 143,449 | 151,584 | 146,309 | |
Brokerage fees | 546,236 | 353,382 | 412,165 | |
Commission received as agency | 145,162 | 140,484 | 120,508 | |
Investment banking fees | 161,439 | 151,031 | 91,273 | |
Commission received in foreign exchange activities | 239,467 | 244,325 | 214,395 | |
Asset management fees | 255,043 | 307,167 | 235,275 | |
Credit card fees | 1,170,078 | 1,234,239 | 1,360,322 | |
Operating lease fees | [1] | 245,173 | 142,025 | 82,141 |
Others | 813,591 | 766,110 | 570,102 | |
Fees and commission income | 3,814,474 | 3,557,013 | 3,295,256 | |
Fees and commission expense: | ||||
Credit-related fee | (46,456) | (42,023) | (36,817) | |
Credit card fees | (849,256) | (915,521) | (944,533) | |
Others | (535,829) | (458,950) | (374,909) | |
Fees and commission expense | (1,431,541) | (1,416,494) | (1,356,259) | |
Net fees and commission income | ₩ 2,382,933 | ₩ 2,140,519 | ₩ 1,938,997 | |
[1] | Among operating lease fees recognized during the current and prior periods, 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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Details of Dividend income [Line Items] | |||
Dividend income | ₩ 97,956 | ₩ 82,158 | ₩ 87,826 |
Securities at FVTPL | |||
Details of Dividend income [Line Items] | |||
Dividend income | 76,453 | 65,572 | 70,955 |
Securities at fair value through other comprehensive income | |||
Details of Dividend income [Line Items] | |||
Dividend income | ₩ 21,503 | ₩ 16,586 | ₩ 16,871 |
Net gain (loss) on financial _5
Net gain (loss) on financial instruments measured at fair value through profit or loss (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
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 | ₩ 272,830 | ₩ 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 | 1,267 | 87,374 | (61,848) |
Gain (loss) on sale | 28,461 | 13,400 | 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 | 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 | 0 | 0 | 0 |
Gain on valuation of derivatives | 0 | 0 | 0 |
Loss on valuation of derivatives | 0 | 0 | 0 |
Net gain (loss) on financial instruments at fair value through profit or loss | 29,728 | 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 | (204,702) | (248,032) | 916 |
Gain (loss) on sale | 17,516 | 10,395 | 9,133 |
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 | 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 | 0 | 0 | 0 |
Gain on valuation of derivatives | 0 | 0 | 0 |
Loss on valuation of derivatives | 0 | 0 | 0 |
Net gain (loss) on financial instruments at fair value through profit or loss | (187,186) | (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 | 0 |
Gain (loss) on sale | 0 | 0 | 0 |
Gain (loss) on valuation of debt securities | 41,208 | 137,181 | 111,029 |
Gain (loss) on sale of debt securities | 72,338 | 125,431 | 78,718 |
Other gains (losses) of debt securities | 331,837 | 297,024 | 223,731 |
Gain (loss) on valuation of equity securities | 134,922 | 141,246 | 286,801 |
Gain (loss) on sale of equity securities | 283,265 | 183,969 | (275,356) |
Gain (loss) on valuation of other securities | 22,690 | 28,803 | 19,086 |
Gain (loss) on sale of other securities | 0 | 0 | 0 |
Gain (loss) on transaction of derivatives | 0 | 0 | 0 |
Gain on valuation of derivatives | 0 | 0 | 0 |
Loss on valuation of derivatives | 0 | 0 | 0 |
Net gain (loss) on financial instruments at fair value through profit or loss | 886,260 | 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 | 0 |
Gain (loss) on sale | 0 | 0 | 0 |
Gain (loss) on valuation of debt securities | (48,261) | (16,810) | (115,667) |
Gain (loss) on sale of debt securities | 82,724 | (35,710) | 268,932 |
Other gains (losses) of debt securities | 0 | 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 | (83,316) | (91,025) | (14,892) |
Gain (loss) on sale of other securities | 8,313 | 4,169 | 1,394 |
Gain (loss) on transaction of derivatives | 0 | 0 | 0 |
Gain on valuation of derivatives | 0 | 0 | 0 |
Loss on valuation of derivatives | 0 | 0 | 0 |
Net gain (loss) on financial instruments at fair value through profit or loss | (40,540) | (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 | 0 |
Gain (loss) on sale | 0 | 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 | 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 | (661,113) | 359,187 | 179,928 |
Gain on valuation of derivatives | 245,681 | 388,880 | 0 |
Loss on valuation of derivatives | 0 | 0 | (291,879) |
Net gain (loss) on financial instruments at fair value through profit or loss | ₩ (415,432) | ₩ 748,067 | ₩ (111,951) |
Net gain (loss) on financial _6
Net gain (loss) on financial instruments designated at fair value through profit or loss (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
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 | ₩ 198,239 | ₩ (846,046) | ₩ (26,643) |
Financial assets designated at fair value through profit or loss | |||
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 | (4,737) |
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 | 0 | (4,737) |
Financial liabilities designated at fair value through profit or loss | |||
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 | 241,066 | (33,871) | 382,667 |
Loss on disposal and redemption of Borrowings | (42,827) | (812,175) | (404,573) |
Net gain (loss) on financial instruments designated at fair value through profit or loss | ₩ 198,239 | ₩ (846,046) | ₩ (21,906) |
Provision for allowance for c_3
Provision for allowance for credit loss on financial assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Provision for allowance for credit loss [Line Items] | ||
Allowance provided (reversed) for credit loss | ₩ (1,382,179) | ₩ (980,692) |
Loans at amortized cost net category | ||
Provision for allowance for credit loss [Line Items] | ||
Provision for (reversal of) allowance | (1,290,695) | (910,898) |
Provision for (reversal of) allowance | 0 | 0 |
Provision for (reversal of) allowance | 0 | 0 |
Allowance provided (reversed) for credit loss | (1,290,695) | (910,898) |
Others | ||
Provision for allowance for credit loss [Line Items] | ||
Provision for (reversal of) allowance | (33,785) | (33,945) |
Provision for (reversal of) allowance | 0 | 0 |
Provision for (reversal of) allowance | 0 | 0 |
Allowance provided (reversed) for credit loss | (33,785) | (33,945) |
Securities at fair value through other comprehensive income | ||
Provision for allowance for credit loss [Line Items] | ||
Provision for (reversal of) allowance | 0 | 0 |
Provision for (reversal of) allowance | (3,829) | (5,787) |
Provision for (reversal of) allowance | 0 | 0 |
Allowance provided (reversed) for credit loss | (3,829) | (5,787) |
Unused credit line and financial guarantee | ||
Provision for allowance for credit loss [Line Items] | ||
Provision for (reversal of) allowance | 0 | 0 |
Provision for (reversal of) allowance | 0 | 0 |
Provision for (reversal of) allowance | (52,795) | (29,519) |
Allowance provided (reversed) for credit loss | (52,795) | (29,519) |
Securities at amortized cost | ||
Provision for allowance for credit loss [Line Items] | ||
Provision for (reversal of) allowance | 0 | 0 |
Provision for (reversal of) allowance | (1,075) | (543) |
Provision for (reversal of) allowance | 0 | 0 |
Allowance provided (reversed) for credit loss | ₩ (1,075) | ₩ (543) |
General and administrative ex_3
General and administrative expense (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Employee benefits: | |||
Salaries | ₩ 3,034,543 | ₩ 2,918,065 | ₩ 2,736,604 |
Defined contribution | 36,660 | 35,972 | 23,745 |
Defined benefit | 184,753 | 168,732 | 133,749 |
Termination benefits | 94,723 | 122,732 | 115,275 |
Subtotal | 3,350,679 | 3,245,501 | 3,009,373 |
Entertainment | 34,963 | 36,931 | 30,442 |
Depreciation | 475,506 | 479,657 | 171,771 |
Amortization | 129,976 | 99,208 | 73,575 |
Taxes and utility bills | 197,996 | 197,691 | 176,133 |
Advertising | 204,308 | 265,739 | 287,688 |
Research | 20,271 | 17,742 | 13,928 |
Others | 798,774 | 792,205 | 978,665 |
General and administrative expenses | ₩ 5,212,473 | ₩ 5,134,674 | ₩ 4,741,575 |
Stock options granted (Details)
Stock options granted (Details) | 12 Months Ended |
Dec. 31, 2020₩ / shares | |
6th grant | |
Stock options granted [Line Items] | |
Grant date | March 20, 2007 |
Exercise price in won | ₩ 54,560 |
Number of shares granted | 1,301,050 |
Options expiry dates | Aug. 19, 2020 |
Changes in number of shares granted: | |
Balance at January 1, 2020 | 58,764 |
Exercised and cancelled | 58,764 |
Balance at December 31, 2020 | 0 |
7th grant | |
Stock options granted [Line Items] | |
Grant date | March 19, 2008 |
Exercise price in won | ₩ 49,053 |
Number of shares granted | 808,700 |
Options expiry dates | May NaN, 2021 |
Changes in number of shares granted: | |
Balance at January 1, 2020 | 36,162 |
Exercised and cancelled | 0 |
Balance at December 31, 2020 | 36,162 |
Fair value per share in won | 14(Expiration of contractual exercise period : May 17, 2021) 49(Expiration of contractual exercise period : Sep 17, 2021) |
Performance shares (Details)
Performance shares (Details) | 12 Months Ended | |
Dec. 31, 2020₩ / shares | ||
Expired performance shares | ||
Performance shares [Line Items] | ||
Type | Cash-settled share-based payment | |
Performance conditions | Relative stock price linked (20.0%), management index (80.0%) | [1] |
Operating period | 4 years from the commencement date of the year to which the grant date belongs (5 years in the case of deferred payment) | |
Estimated number of shares vested at December 31, 2020 | 468,013 | |
Not Expired performance shares | ||
Performance shares [Line Items] | ||
Type | Cash-settled share-based payment | |
Performance conditions | Relative stock price linked (20.0%), management index (80.0%) | [1] |
Operating period | 4 years from the commencement date of the year to which the grant date belongs (5 years in the case of deferred payment) | |
Estimated number of shares vested at December 31, 2020 | 1,601,729 | |
[1] | Starting with the shares provided from 2020, Shinhan Financial Group and Shinhan Bank will apply relative stock price linked (20.0%), management index (60.0%), and prudential index (20.0%). |
Fair value performance shares (
Fair value performance shares (Details) | Dec. 31, 2020KRW (₩) | [1] |
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 | |
Vested at December 31, 2020 | ||
Fair value performance shares [Line Items] | ||
Fair value per share | 33,122 | |
Not Expired performance shares | ||
Fair value performance shares [Line Items] | ||
Fair value per share | ₩ 32,050 | |
[1] | Based on performance-based stock compensation, the reference stock price (the arithmetic average of the weighted average share price of transaction volume for the past two month, the previous one month, and the past one week) of four years (In the case of deferred quantity for after five years) after the commencement of the grant year is paid in cash, and the fair value of the reference stock to be paid in the future is assessed as the closing price of the settlement. |
Share-based compensation costs
Share-based compensation costs (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | ₩ (276) | ₩ 4,670 | ₩ 1,072 |
Employees of the subsidiaries | (3,932) | 32,634 | 9,510 |
Total | (4,208) | 37,304 | 10,582 |
4th Stock options granted | |||
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | 0 | ||
Employees of the subsidiaries | (14) | ||
Total | (14) | ||
5th Stock options granted | |||
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | 0 | 0 | |
Employees of the subsidiaries | 9 | (19) | |
Total | 9 | (19) | |
6th Stock options granted | |||
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | (1) | (3) | (23) |
Employees of the subsidiaries | (4) | (15) | (139) |
Total | (5) | (18) | (162) |
7th Stock options granted | |||
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | (18) | (5) | (59) |
Employees of the subsidiaries | (26) | (6) | (86) |
Total | (44) | (11) | (145) |
Performance shares | |||
Share-based compensation costs [Line Items] | |||
Employees of the controlling company | (257) | 4,678 | 1,154 |
Employees of the subsidiaries | (3,902) | 32,646 | 9,768 |
Total | ₩ (4,159) | ₩ 37,324 | ₩ 10,922 |
Accrued expenses and the intrin
Accrued expenses and the intrinsic value recognized in share-based payments (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Accrued expenses and the intrinsic value recognized in share-based payments [Line Items] | ||
Employees of the controlling company | ₩ 7,202 | ₩ 10,023 |
Employees of the subsidiaries | 60,242 | 81,383 |
Total | 67,444 | 91,406 |
6th Stock options granted | ||
Accrued expenses and the intrinsic value recognized in share-based payments [Line Items] | ||
Employees of the controlling company | 1 | |
Employees of the subsidiaries | 4 | |
Total | 5 | |
7th Stock options granted | ||
Accrued expenses and the intrinsic value recognized in share-based payments [Line Items] | ||
Employees of the controlling company | 1 | 19 |
Employees of the subsidiaries | 1 | 27 |
Total | 2 | 46 |
Performance shares | ||
Accrued expenses and the intrinsic value recognized in share-based payments [Line Items] | ||
Employees of the controlling company | 7,201 | 10,003 |
Employees of the subsidiaries | 60,241 | 81,352 |
Total | ₩ 67,442 | ₩ 91,355 |
Net other operating expense (De
Net other operating expense (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other operating income | |||
Gain on disposal of loans at amortized cost | ₩ 21,348 | ₩ 18,298 | ₩ 40,624 |
Miscellaneous other operating income | |||
Gain on hedged items | 536,768 | 564,438 | 418,390 |
Reversal of allowance for guarantees and acceptances | 2,709 | 19,329 | 2,834 |
Gain on other trust accounts | 0 | 27 | 0 |
Reversal of other allowance | 850 | 11,194 | 5,033 |
Others | 164,999 | 97,777 | 131,345 |
Miscellaneous other operating income | 705,326 | 692,765 | 557,602 |
Other operating income | 726,674 | 711,063 | 598,226 |
Other operating expense | |||
Loss on disposal of loans at amortized cost | (18,675) | (27,291) | (14,271) |
Miscellaneous other operating expense | |||
Loss on hedged items | (605,808) | (596,533) | (406,872) |
Fund contribution | (367,993) | (311,336) | (283,331) |
Provision for other debt allowances | (16,862) | (6,939) | (13,036) |
Depreciation of operating lease assets | (163,006) | (98,288) | (56,570) |
Others | (924,796) | (857,918) | (653,501) |
Miscellaneous other operating expense | (2,078,465) | (1,871,014) | (1,413,310) |
Other operating expense | (2,097,140) | (1,898,305) | (1,427,581) |
Net other operating expenses | ₩ (1,370,466) | ₩ (1,187,242) | ₩ (829,355) |
Net other non-operating incom_2
Net other non-operating income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Gain on disposals of assets | ||||
Gain on disposals of property and equipment | [1] | ₩ 64,427 | ₩ 1,452 | ₩ 12,611 |
Gain on disposals of investment property | [1] | 20,701 | 12,640 | 4,783 |
Gain on disposals of assets held for sale | 1,147 | 0 | 0 | |
Gain on disposals of lease assets | 2,712 | 1,681 | 1,153 | |
Gain on disposals of right-of-use assets | 3,415 | 1,112 | 0 | |
Gain on disposals of others | 24 | 407 | 0 | |
Gain on disposals of assets | 92,426 | 17,292 | 18,547 | |
Gain on disposals of investments in associates | 11,325 | 3,461 | 17,427 | |
Miscellaneous other non-operating income | ||||
Rental income on investment property | 23,890 | 43,777 | 32,488 | |
Reversal of impairment losses on intangible asset | 119 | 438 | 62 | |
Gain from assets contributed | 4 | 86 | 77 | |
Others | 66,268 | 82,879 | 49,276 | |
Miscellaneous other non-operating income | 90,281 | 127,180 | 81,903 | |
Other non-operating income | 194,032 | 147,933 | 117,877 | |
Loss on disposals of assets | ||||
Loss on disposals of property and equipment | [1] | (5,884) | (870) | (3,082) |
Loss on disposals of investment property | 0 | 0 | (2,958) | |
Loss on disposals of lease assets | (5,538) | (3,221) | (3,964) | |
Loss on disposals of right-of-use assets | (1,195) | (306) | 0 | |
Loss on disposals of others | (64) | 0 | (3) | |
Loss on disposals of assets | (12,681) | (4,397) | (10,007) | |
Loss from investments in associates | ||||
Loss on disposals of investments in associates | (5,754) | (3,974) | (11,546) | |
Impairment loss on investments in associates | (9,407) | 0 | (5,849) | |
Loss from investments in associates | (15,161) | (3,974) | (17,395) | |
Miscellaneous other non-operating expense | ||||
Donations | (86,608) | (94,937) | (88,650) | |
Depreciation of investment properties | (20,165) | (17,565) | (16,917) | |
Impairment loss on intangible assets | (41,429) | (152,081) | (771) | |
Write-off of intangible assets | (474) | (9,221) | (1,537) | |
Expenses on collection of special bonds | (7,978) | (7,322) | (6,048) | |
Others | (344,934) | (46,465) | (26,844) | |
Miscellaneous other non-operating expense | (501,588) | (327,591) | (140,767) | |
Other non-operating expense | (529,430) | (335,962) | (168,169) | |
Net other non-operating income (expense) | ₩ (335,398) | ₩ (188,029) | ₩ (50,292) | |
[1] | Gain and loss on disposal of sale-and-leaseback are included in gain and loss on disposal of property, plant, and equipment and gain on disposal of investment property, respectively. Gain on disposal of sale-and-leaseback for the year ended December 31, 2020 is W 9,761 million. |
Income tax expense (Details)
Income tax expense (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income tax expense [Abstract] | |||
Current income tax expense | ₩ 1,131,254 | ₩ 1,115,724 | ₩ 896,755 |
Temporary differences | 131,862 | 296,244 | 383,190 |
Income tax recognized in other comprehensive income | (7,321) | (142,844) | (11,600) |
Income tax expenses | ₩ 1,255,795 | ₩ 1,269,124 | ₩ 1,268,345 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income tax expense calculated by multiplying net income before tax with the tax rate [Abstract] | |||
Profit before income taxes | ₩ 4,753,871 | ₩ 4,911,508 | ₩ 4,466,610 |
Income taxes at statutory tax rates | 1,301,836 | 1,345,187 | 1,222,840 |
Non-taxable income | (4,932) | 0 | (9,561) |
Non-taxable income | 8,500 | ||
Non-deductible expense | 14,529 | 18,461 | 12,854 |
Tax credit | (88) | (2,289) | (23,317) |
Changes in deferred tax due to change in tax rate | 0 | 0 | 0 |
Other | (55,550) | (100,735) | 65,529 |
Income tax expenses | ₩ 1,255,795 | ₩ 1,269,124 | ₩ 1,268,345 |
Effective tax rate | 26.42% | 25.84% | 28.40% |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | ₩ (233,349) | ₩ 404,945 | |
Business combination | 2,858 | (343,581) | |
Profit or loss | (126,499) | (151,869) | |
Other comprehensive income (loss) | (7,321) | (142,844) | ₩ (11,600) |
Ending balance | (364,311) | (233,349) | 404,945 |
Temporary Difference | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | (553,360) | 37,501 | |
Business combination | 2,858 | (343,581) | |
Profit or loss | (90,555) | (104,436) | |
Other comprehensive income (loss) | (7,321) | (142,844) | |
Ending balance | (648,378) | (553,360) | 37,501 |
Unearned income | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | (331,679) | (255,336) | |
Business combination | 0 | (62,077) | |
Profit or loss | 3,401 | (14,266) | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | (328,278) | (331,679) | (255,336) |
Account receivable | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | (26,324) | (24,139) | |
Business combination | 0 | 0 | |
Profit or loss | (2,754) | (2,185) | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | (29,078) | (26,324) | (24,139) |
Financial assets measured at fair value | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | (101,577) | 225,635 | |
Business combination | 1,750 | (544,733) | |
Profit or loss | (28,950) | 404,519 | |
Other comprehensive income (loss) | (13,308) | (186,998) | |
Ending balance | (142,085) | (101,577) | 225,635 |
Investment in associates | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 18,758 | 24,743 | |
Business combination | 0 | 0 | |
Profit or loss | 144,390 | (5,937) | |
Other comprehensive income (loss) | (1,878) | (48) | |
Ending balance | 161,270 | 18,758 | 24,743 |
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 | (151,046) | (161,996) | |
Business combination | 7 | 0 | |
Profit or loss | 253 | 10,950 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | (150,786) | (151,046) | (161,996) |
Derivatives | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 21,005 | 111,751 | |
Business combination | 0 | (1,132) | |
Profit or loss | (80,357) | (97,147) | |
Other comprehensive income (loss) | 3,762 | 7,533 | |
Ending balance | (55,590) | 21,005 | 111,751 |
Deposits | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 30,641 | 28,036 | |
Business combination | 0 | 0 | |
Profit or loss | (3,009) | 2,605 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 27,632 | 30,641 | 28,036 |
Accrued expenses | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 145,494 | 132,689 | |
Business combination | 441 | 15,298 | |
Profit or loss | (5,071) | (2,493) | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 140,864 | 145,494 | 132,689 |
Defined benefit obligation | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 506,132 | 447,658 | |
Business combination | 209 | 4,805 | |
Profit or loss | 39,072 | 33,321 | |
Other comprehensive income (loss) | (6,759) | 20,348 | |
Ending balance | 538,654 | 506,132 | 447,658 |
Plan assets | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | (507,140) | (446,323) | |
Business combination | 0 | (4,610) | |
Profit or loss | (47,934) | (57,165) | |
Other comprehensive income (loss) | 1,167 | 958 | |
Ending balance | (553,907) | (507,140) | (446,323) |
Other provisions | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 213,055 | 194,475 | |
Business combination | 0 | 2,283 | |
Profit or loss | 99,223 | 16,297 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 312,278 | 213,055 | 194,475 |
Allowance for acceptances and guarantees | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 80,014 | 29,157 | |
Business combination | 0 | 42,234 | |
Profit or loss | 8,036 | 8,623 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 88,050 | 80,014 | 29,157 |
Allowance related to asset revaluation | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | (49,713) | (49,713) | |
Business combination | 0 | 0 | |
Profit or loss | 0 | 0 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | (49,713) | (49,713) | (49,713) |
Allowance for expensing depreciation | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | (401) | (465) | |
Business combination | 0 | 0 | |
Profit or loss | 64 | 64 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | (337) | (401) | (465) |
Deemed dividend | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 0 | 0 | |
Business combination | 0 | 0 | |
Profit or loss | 0 | 0 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 0 | 0 | 0 |
Accrued contributions | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 36,818 | 21,711 | |
Business combination | 0 | 0 | |
Profit or loss | (20,200) | 15,107 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 16,618 | 36,818 | 21,711 |
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 | 42,817 | (87,408) | |
Business combination | 0 | 0 | |
Profit or loss | (71,043) | 130,225 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | (28,226) | 42,817 | (87,408) |
Allowances | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 38,068 | 48,784 | |
Business combination | 0 | 0 | |
Profit or loss | 185,583 | (10,716) | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 223,651 | 38,068 | 48,784 |
Fictitious dividend | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 1,341 | 1,325 | |
Business combination | 0 | 0 | |
Profit or loss | 14,950 | 16 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 16,291 | 1,341 | 1,325 |
Liability under insurance contracts | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 24,147 | 22,593 | |
Business combination | 0 | 0 | |
Profit or loss | (22,408) | 1,554 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 1,739 | 24,147 | 22,593 |
Deficit carried over | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 0 | 0 | |
Business combination | 0 | 0 | |
Profit or loss | 311 | 0 | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 311 | 0 | 0 |
Other | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | (543,770) | (225,676) | |
Business combination | 451 | 204,351 | |
Profit or loss | (304,112) | (537,808) | |
Other comprehensive income (loss) | 9,695 | 15,363 | |
Ending balance | (837,736) | (543,770) | (225,676) |
Expired unused tax losses | |||
Deferred tax expenses by origination and reversal of deferred assets and liabilities and temporary differences [Line Items] | |||
Beginning balance | 320,011 | 367,444 | |
Business combination | 0 | 0 | |
Profit or loss | (35,944) | (47,433) | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | 284,067 | 320,011 | 367,444 |
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 | 320,011 | 367,444 | |
Business combination | 0 | 0 | |
Profit or loss | (35,944) | (47,433) | |
Other comprehensive income (loss) | 0 | 0 | |
Ending balance | ₩ 284,067 | ₩ 320,011 | ₩ 367,444 |
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, 2020 | Dec. 31, 2019 | |
OCI | ||
Beginning balance | ₩ (254,847) | ₩ (894,711) |
Changes | (135,230) | 639,864 |
Ending balance | (390,077) | (254,847) |
Tax effect | ||
Beginning balance | (5,309) | 141,490 |
Changes | (8,794) | (146,799) |
Ending balance | (14,103) | (5,309) |
Gain (loss) on valuation of financial assets measured at FVOCI | ||
OCI | ||
Beginning balance | 439,370 | 11,713 |
Changes | (103,570) | 427,657 |
Ending balance | 335,800 | 439,370 |
Tax effect | ||
Beginning balance | (132,901) | (8,754) |
Changes | 23,912 | (124,147) |
Ending balance | (108,989) | (132,901) |
Gain (loss) on financial liabilities measured at FVTPL attributable to changes in credit risk | ||
OCI | ||
Beginning balance | (11,386) | 235 |
Changes | 4,253 | (11,621) |
Ending balance | (7,133) | (11,386) |
Tax effect | ||
Beginning balance | 3,131 | (65) |
Changes | (1,170) | 3,196 |
Ending balance | 1,961 | 3,131 |
Foreign currency translation adjustments for foreign operations | ||
OCI | ||
Beginning balance | (208,348) | (306,766) |
Changes | (166,596) | 98,418 |
Ending balance | (374,944) | (208,348) |
Tax effect | ||
Beginning balance | (9,117) | (15,087) |
Changes | 7,000 | 5,970 |
Ending balance | (2,117) | (9,117) |
Gain (loss) on cash flow hedge | ||
OCI | ||
Beginning balance | (47,977) | (24,485) |
Changes | (19,958) | (23,492) |
Ending balance | (67,935) | (47,977) |
Tax effect | ||
Beginning balance | 14,266 | 6,733 |
Changes | 5,498 | 7,533 |
Ending balance | 19,764 | 14,266 |
Equity in other comprehensive income of associates | ||
OCI | ||
Beginning balance | 8,300 | 4,957 |
Changes | (1,450) | 3,343 |
Ending balance | 6,850 | 8,300 |
Tax effect | ||
Beginning balance | (122) | (74) |
Changes | (1,878) | (48) |
Ending balance | (2,000) | (122) |
The accumulated other comprehensive income in separate account | ||
OCI | ||
Beginning balance | 20,054 | 5,672 |
Changes | 5,358 | 14,382 |
Ending balance | 25,412 | 20,054 |
Tax effect | ||
Beginning balance | (5,515) | (1,560) |
Changes | (1,473) | (3,955) |
Ending balance | (6,988) | (5,515) |
Remeasurements of the defined benefit liability | ||
OCI | ||
Beginning balance | (553,538) | (477,382) |
Changes | 21,362 | (76,156) |
Ending balance | (532,176) | (553,538) |
Tax effect | ||
Beginning balance | 152,006 | 130,700 |
Changes | (5,610) | 21,306 |
Ending balance | 146,396 | 152,006 |
Gain (loss) on valuation of financial asset measured at FVTPL (overlay approach) | ||
OCI | ||
Beginning balance | 98,678 | (108,655) |
Changes | 125,371 | 207,333 |
Ending balance | 224,049 | 98,678 |
Tax effect | ||
Beginning balance | (27,057) | 29,597 |
Changes | (35,073) | (56,654) |
Ending balance | ₩ (62,130) | ₩ (27,057) |
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, 2020 | Dec. 31, 2019 |
The amount of temporary difference regarding investment in subsidiaries that are not recognized as deferred tax liabilities [Abstract] | ||
Investment in subsidiaries | ₩ (897,110) | ₩ (766,888) |
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, 2020 | Dec. 31, 2019 |
Deferred tax assets and liabilities presented on a gross basis prior to any offsetting [Abstract] | ||
Deferred tax assets | ₩ 440,430 | ₩ 518,337 |
Deferred tax liabilities | ₩ (804,741) | ₩ (751,686) |
Basic and diluted earnings per
Basic and diluted earnings per share (Details) - KRW (₩) ₩ / shares in Units, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Earnings per share [Abstract] | ||||
Profit (loss), attributable to owners of parent | [1] | ₩ 3,414,595 | ₩ 3,403,497 | ₩ 3,156,722 |
Less | ||||
Dividends to hybrid bonds | 85,327 | 61,993 | 40,357 | |
Net profit available for common stock | ₩ 3,329,268 | ₩ 3,341,504 | ₩ 3,116,365 | |
Weighted average number of common shares outstanding | [2],[3] | 500,343,324 | 477,346,731 | 473,649,076 |
Basic and diluted earnings per share in won | ₩ 6,654 | ₩ 7,000 | ₩ 6,579 | |
[1] | The increase in reserve for credit losses, W25,608 million, due to the business combination with Orange Life insurance and Asia Trust for the year ended December 31, 2019 is excluded. | |||
[2] | The number of basic ordinary shares outstanding is 516,599,554 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. | |||
[3] | Treasury stock has retired on June 1, 2020. |
The calculation details of the
The calculation details of the weighted average number of ordinary shares (Details) | 12 Months Ended | |||
Dec. 31, 2020₩ / sharesshares | Dec. 31, 2019shares | Dec. 31, 2018shares | ||
The calculation details of the weighted average number of ordinary shares [Line Items] | ||||
Number Of Shares | shares | 533,376,758 | |||
Number of days | ₩ / shares | 183,125,656,449 | |||
Days | ₩ / shares | 366 | |||
Weighted average number of ordinary shares | shares | [1],[2] | 500,343,324 | 477,346,731 | 473,649,076 |
Common stocks | ||||
The calculation details of the weighted average number of ordinary shares [Line Items] | ||||
Number Of Shares | shares | 516,599,554 | 474,199,587 | ||
Number of days | ₩ / shares | 178,880,869,852 | |||
Preferred stocks | ||||
The calculation details of the weighted average number of ordinary shares [Line Items] | ||||
Number Of Shares | shares | 17,482,000 | 17,482,000 | ||
Number of days | ₩ / shares | 6,398,412,000 | |||
Treasury stocks | ||||
The calculation details of the weighted average number of ordinary shares [Line Items] | ||||
Number Of Shares | shares | (704,796) | |||
Number of days | ₩ / shares | (2,153,625,403) | |||
[1] | The number of basic ordinary shares outstanding is 516,599,554 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. | |||
[2] | Treasury stock has retired on June 1, 2020. |
Guarantees, acceptances and cre
Guarantees, acceptances and credit commitments (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Guarantees | ||
Guarantee outstanding | ₩ 10,249,827 | ₩ 9,319,885 |
Contingent guarantees | 3,433,953 | 3,669,697 |
Subtotal | 13,683,780 | 12,989,582 |
Commitments to extend credit | ||
Loan commitments in won | 80,598,639 | 74,393,722 |
Loan commitments in foreign currency | 19,319,903 | 22,542,776 |
ABS and ABCP commitments | 1,604,958 | 2,116,354 |
Others | 87,718,227 | 81,387,165 |
Subtotal | 189,241,727 | 180,440,017 |
Endorsed bills | ||
Secured endorsed bills | 1,650 | 11,287 |
Unsecured endorsed bills | 7,324,559 | 6,737,097 |
Subtotal | 7,326,209 | 6,748,384 |
Loans sold under repurchase agreement | 0 | 2,099 |
Total | ₩ 210,251,716 | ₩ 200,180,082 |
Pending litigations (Details)
Pending litigations (Details) ₩ in Millions | Dec. 31, 2020KRW (₩)₩ / shares |
Case | |
Pending litigations [Line Items] | |
Number of claim | ₩ / shares | 533 |
Claim amount | ₩ | ₩ 319,792 |
Claim for the payment to execute the assignment order | |
Pending litigations [Line Items] | |
Number of claim | ₩ / shares | 1 |
Claim amount | ₩ | ₩ 7,099 |
Deposit return | |
Pending litigations [Line Items] | |
Number of claim | ₩ / shares | 1 |
Claim amount | ₩ | ₩ 5,575 |
Gampo Ramada a settlement claim suit | |
Pending litigations [Line Items] | |
Number of claim | ₩ / shares | 1 |
Claim amount | ₩ | ₩ 5,658 |
Others | |
Pending litigations [Line Items] | |
Number of claim | ₩ / shares | 530 |
Claim amount | ₩ | ₩ 301,460 |
Cash and cash equivalents in th
Cash and cash equivalents in the consolidated statements of cash flows (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and cash equivalents in the consolidated statements of cash flows [Abstract] | ||||
Cash and due from banks at amortized cost | ₩ 33,420,549 | ₩ 28,435,818 | ₩ 17,363,450 | |
Due from financial institutions with a maturity over three months from date of acquisition | (2,488,156) | (3,349,719) | (3,008,188) | |
Restricted due from banks | (21,969,411) | (16,506,925) | (6,175,506) | |
Total | ₩ 8,962,982 | ₩ 8,579,174 | ₩ 8,179,756 | ₩ 6,236,650 |
Significant non-cash activities
Significant non-cash activities (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Significant non-cash activities [Abstract] | |||
Debt-equity swap | ₩ 58,528 | ₩ 224,093 | ₩ 28,759 |
Transfers from construction-in-progress to property and equipment | 56,575 | 76,004 | 6,319 |
Transfers between property and equipment and investment property | 4,064 | 104,573 | 28,199 |
Transfers between assets held for sale to property and equipment | 31,633 | 455 | 80 |
Transfers between investment property and assets held for sale | 910 | 15,795 | 0 |
Accounts payable for purchase of intangible assets, etc. | 137,476 | 472,798 | 1,047 |
Transaction for right-of-use assets | 281,785 | 1,376,764 | 0 |
Exchange of shares related to acquisition of subsidiaries | 629,449 | 0 | 0 |
Exchange of shares related to disposal of treasury stocks | ₩ 287,669 | ₩ 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, 2020 | Dec. 31, 2019 | |
Derivatives | ||
Changes in assets and liabilities arising from financing activities [Line Items] | ||
Balance at January 1 | ₩ 5,822 | ₩ (77,102) |
Changes from cash flows | (43,676) | 21,958 |
Amortization of discount on borrowings and debentures | 0 | 0 |
Changes in foreign currency exchange rate | 0 | 0 |
Others | 126,638 | 60,966 |
Business combination(Note 47) | 0 | 0 |
Balance at December 31 | 88,784 | 5,822 |
Borrowings | ||
Changes in assets and liabilities arising from financing activities [Line Items] | ||
Balance at January 1 | 34,863,156 | 29,818,542 |
Changes from cash flows | 7,465,106 | 5,017,269 |
Amortization of discount on borrowings and debentures | 22,836 | 58,320 |
Changes in foreign currency exchange rate | 271,179 | 173,623 |
Others | (1,037,213) | (204,598) |
Business combination(Note 47) | 9,000 | 0 |
Balance at December 31 | 41,594,064 | 34,863,156 |
Debentures | ||
Changes in assets and liabilities arising from financing activities [Line Items] | ||
Balance at January 1 | 75,363,364 | 63,227,699 |
Changes from cash flows | (28,372) | 11,201,673 |
Amortization of discount on borrowings and debentures | 437,627 | 352,524 |
Changes in foreign currency exchange rate | (417,151) | 282,534 |
Others | (221,074) | 298,934 |
Business combination(Note 47) | 0 | 0 |
Balance at December 31 | 75,134,394 | 75,363,364 |
Lease liabilities | ||
Changes in assets and liabilities arising from financing activities [Line Items] | ||
Balance at January 1 | 1,104,259 | 536,842 |
Changes from cash flows | (781,867) | (269,362) |
Amortization of discount on borrowings and debentures | 14,504 | 11,291 |
Changes in foreign currency exchange rate | 0 | 0 |
Others | 256,426 | 792,901 |
Business combination(Note 47) | 839 | 32,587 |
Balance at December 31 | ₩ 594,161 | ₩ 1,104,259 |
Related parties - Balances with
Related parties - Balances with the related parties (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
BNP Paribas Cardif Life Insurance | ||
Assets: | ||
Credit card loans | ₩ 81 | ₩ 173 |
Allowances for credit loss | 0 | 0 |
Other assets | 76 | 92 |
Liabilities: | ||
Deposits | 13,941 | 402 |
Provisions | 0 | 0 |
Partners 4th Growth Investment Fund | ||
Liabilities: | ||
Deposits | 2,802 | 1,443 |
BNP Paribas Cardif General Insurance | ||
Assets: | ||
Credit card loans | 21 | 26 |
Allowances for credit loss | 0 | 0 |
Other assets | 0 | 401 |
Liabilities: | ||
Deposits | 41 | 17 |
Shinhan Praxis K-Growth Global Private Equity Fund | ||
Assets: | ||
Other assets | 0 | 91 |
Dream High Fund III | ||
Liabilities: | ||
Deposits | 4 | 5 |
Credian Healthcare Private Equity Fund II | ||
Liabilities: | ||
Deposits | 2 | 4 |
KDBC Midas Dong-A Snowball Venture Fund II | ||
Liabilities: | ||
Deposits | 1,739 | 233 |
Eum Private Equity Fund No.3 | ||
Liabilities: | ||
Deposits | 20 | 353 |
Shinhan Global Healthcare Fund 1 | ||
Liabilities: | ||
Unearned revenue | 0 | |
Shinhan Fintech New Technology Fund No.1 | ||
Liabilities: | ||
Unearned revenue | 0 | |
Taihan Industrial System Co., Ltd. | ||
Liabilities: | ||
Deposits | 0 | |
Incorporated association Finance Saving Information Center | ||
Assets: | ||
Credit card loans | 0 | |
Liabilities: | ||
Deposits | 7 | 6 |
GX SHINHAN INTERVEST 1st Private Equity Fund | ||
Liabilities: | ||
Unearned revenue | 0 | 248 |
Nomura investment property trust No.19 | ||
Assets: | ||
Loans | 11,976 | 11,973 |
Other assets | 44 | 42 |
SHBNPP MAIN Professional Investment Type Private Mixed Asset Investment Trust No.3 | ||
Assets: | ||
Other assets | 1,160 | 678 |
Shinhan-Stonebridge Petro PEF | ||
Assets: | ||
Other assets | 0 | 810 |
Korea Finance Security | ||
Liabilities: | ||
Deposits | 568 | 362 |
SHINHAN-CORE TREND GLOBAL FUND 1 | ||
Liabilities: | ||
Unearned revenue | 16 | 9 |
Hermes Private Investment Equity Fund | ||
Liabilities: | ||
Deposits | 352 | 275 |
Multimedia Tech Co.Ltd | ||
Liabilities: | ||
Deposits | 0 | 3 |
Korea Credit Bureau | ||
Liabilities: | ||
Deposits | 2,088 | 80 |
Goduck Gangil1 PFV Co., Ltd | ||
Assets: | ||
Loans | 24,000 | 24,000 |
Allowances for credit loss | (71) | (78) |
SBC PFV Co., Ltd | ||
Liabilities: | ||
Deposits | 8,011 | 5,142 |
GMG Development Co,. Ltd | ||
Liabilities: | ||
Deposits | 0 | 300 |
Sprott Global Renewable Private Equity Fund I | ||
Liabilities: | ||
Deposits | 258 | 342 |
IMM Global Private Equity Fund | ||
Assets: | ||
Loans | 800 | 800 |
Allowances for credit loss | (2) | (3) |
Liabilities: | ||
Deposits | 10,820 | 7,598 |
Goduck Gangil10 PFV Co., Ltd | ||
Assets: | ||
Loans | 9,400 | 0 |
Allowances for credit loss | (19) | 0 |
Liabilities: | ||
Deposits | 2,718 | 0 |
Shinhan Global Healthcare Fund 2 | ||
Liabilities: | ||
Deposits | 1 | 0 |
One Shinhan Global Fund 1 | ||
Liabilities: | ||
Unearned revenue | 122 | 0 |
IGIS PRIVATE REAL ESTATE TRUST NO.331 | ||
Assets: | ||
Loans | 9,919 | 0 |
Accrued income | 121 | 0 |
Liabilities: | ||
Unearned revenue | 22 | 0 |
COSPEC BIM tech | ||
Assets: | ||
Loans | 151 | 0 |
Allowances for credit loss | (95) | |
Other assets | 0 | 0 |
Liabilities: | ||
Deposits | 1 | 0 |
IMM Special Situation 1-2 PRIVATE EQUITY FUND | ||
Liabilities: | ||
Deposits | 117 | |
Unearned revenue | 0 | 0 |
EDNCENTRAL Co.,Ltd. | ||
Assets: | ||
Loans | 19,450 | 0 |
Accrued income | 9 | 0 |
Liabilities: | ||
Unearned revenue | 578 | 0 |
KoFC-Neoplux R&D-Biz Creation 2013-1 Investment | ||
Assets: | ||
Account receivables | 2,823 | 0 |
Future-Creation Neoplux Venture Capital Fund | ||
Assets: | ||
Account receivables | 4,137 | 0 |
Neoplux Market-Frontier Secondary Fund | ||
Assets: | ||
Account receivables | 1,630 | 0 |
Gyeonggi-Neoplux Superman Fund | ||
Assets: | ||
Account receivables | 186 | 0 |
Shinhan-Neoplux Energy Newbiz Fund | ||
Assets: | ||
Account receivables | 25 | 0 |
SHINHAN-NEO Core Industrial Technology Fund | ||
Assets: | ||
Account receivables | 3 | 0 |
KTC-NP Growth Champ 2011-2 Private Equity Fund | ||
Assets: | ||
Account receivables | 4,528 | 0 |
Neoplux No.3 Private Equity Fund | ||
Assets: | ||
Account receivables | 748 | 0 |
NV Station Private Equity Fund | ||
Liabilities: | ||
Deposits | 100 | |
Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 | ||
Liabilities: | ||
Unearned revenue | 76 | |
IGIS Private Real Estate Investment Trust 286 | ||
Assets: | ||
Other assets | 436 | |
Genesis North America Power Company No.1 PEF | ||
Assets: | ||
Other assets | 2,171 | |
Key management personnel and their immediate relatives: | ||
Assets: | ||
Loans | ₩ 5,144 | ₩ 4,426 |
Related parties - Transactions
Related parties - Transactions with the related parties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
BNP Paribas Cardif Life Insurance | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | ₩ 3,390 | ₩ 4,230 | ₩ 3,716 |
Reversal of allowance for credit losses | 0 | 3 | 4 |
General and administrative expenses | (4) | (9) | (17) |
Other operating expense | (5) | (1) | |
Provision for allowance for credit losses | 0 | 0 | |
Shinhan Praxis K-Growth Global Private Equity Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 361 | 448 | 685 |
BNP Paribas Cardif General Insurance | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 10 | 11 | 9 |
Other operating income | 333 | 468 | |
Reversal of allowance for credit losses | 0 | 0 | |
Provision for allowance for credit losses | 0 | 0 | (2) |
Midas Dong-A Snowball Venture Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 119 | 47 |
Interest expense | 0 | (1) | (2) |
SP New Technology Business investment Fund I | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 0 | 317 |
IBKS-Shinhan Creative Economy New Technology Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 0 | 13 |
Interest expense | 0 | 0 | |
SM New Technology Business Investment Fund I | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 14 | 55 |
JAEYOUNG SOLUTEC CO., LTD. | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 0 | 0 | 523 |
Fees and commission income | 0 | 0 | 2 |
Other operating income | 0 | 0 | 3 |
Reversal of allowance for credit losses | 0 | 0 | 0 |
Interest expense | 0 | 0 | (2) |
Provision for allowance for credit losses | 0 | 0 | (1) |
Partners 4th Growth Investment Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest expense | (4) | (7) | (19) |
Shinhan-Albatross Technology Investment | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 54 | 216 | 216 |
Interest expense | 0 | 0 | |
IBKS-Shinhan Creative Economy New Technology Fund II | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 8 | 16 |
KDBC Midas Dong-A Snowball Venture Fund II | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest expense | (2) | 0 | (2) |
SHBNPP Private Korea Equity Long-Short Professional Feeder | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 363 | 975 |
STI-New Growth Engines Investment | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 0 | 16 |
Shinhan Fintech New Technology Fund No.1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 38 | 153 |
KTB New lake medical Global Investment | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 0 | 0 | |
Other operating income | 0 | 0 | |
Shinhan Global Healthcare Fund 1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 360 | 785 |
Taihan Industrial System Co., Ltd. | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 0 | 1 |
Shinhan capital-Cape FN Fund No.1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 101 | 82 |
SHC-K2 Global Material Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 19 | 19 | 20 |
Synergy-Shinhan Mezzanine New Technology Investment Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 50 | 94 | 127 |
Shinhan-Midas Dong-A Secondary Venture Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 63 | 187 | 71 |
GX SHINHAN INTEREST 1st Private Equity Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 454 | 545 | 412 |
Shinhan-Nvestor Liquidity Solution Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 361 | 361 | 214 |
SHC ULMUS Fund No.1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 39 | 76 | 51 |
Shinhan-PS Investment Fund No.1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 20 | 20 | 12 |
Nomura investment property trust No.19 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 525 | 519 | 312 |
Other operating income | 3 | 7 | |
Provision for allowance for credit losses | 0 | 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 | 2,501 | 2,694 | 236 |
Shinhan-Stonebridge Petro PEF | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 0 | 1,762 | 1,920 |
Korea Finance Security | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 10 | 10 | |
Interest expense | (1) | ||
ShinHan - Soo Young Entrepreneur Investment Fund No.1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 206 | 275 | |
Shinhan-Rhinos 1 Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 64 | 64 | |
SHINHAN-CORE TREND GLOBAL FUND 1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 100 | 45 | |
Kiwoom-Shinhan Innovation Fund I | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 240 | 67 | |
One Shinhan Global Fund 1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 399 | 151 | |
Yeollim-Shinhan Portfolio Fund I | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 59 | 59 | |
FuturePlay-Shinhan TechInnovation Fund 1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 218 | 7 | |
WON JIN HOME PLAN CO.,LTD | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 0 | 186 | |
Korea Credit Bureau | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 13 | 13 | |
Interest expense | (12) | (5) | |
Goduck Gangil1 PFV Co., Ltd | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 915 | 328 | |
Fees and commission income | 0 | 1,120 | |
Provision for allowance for credit losses | 7 | (78) | |
SBC PFV Co., Ltd | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 732 | ||
Interest expense | (5) | (3) | |
IMM Global Private Equity Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 25 | 28 | |
Interest expense | (13) | (25) | |
Provision for allowance for credit losses | 0 | (3) | |
Goduck Gangil10 PFV Co., Ltd | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 299 | ||
Fees and commission income | 793 | ||
Interest expense | (4) | ||
Provision for allowance for credit losses | (19) | ||
IGIS PRIVATE REAL ESTATE TRUST NO.331 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 731 | ||
Fees and commission income | 478 | ||
Other operating expense | (67) | ||
COSPEC BIM tech | |||
Related parties - Transactions with the related parties [Line Items] | |||
Provision for allowance for credit losses | (95) | ||
Korea Omega Project Fund I | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 131 | ||
New Green Shinhan Mezzanine Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 42 | ||
Sparklabs-Shinhan Opportunity Fund 1 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 174 | ||
EDNCENTRAL Co.,Ltd. | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 649 | ||
Fees and commission income | 578 | ||
Other operating expense | (121) | ||
Shinhan Western T&D Consignment Management Real Estate Investment Co., Ltd | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 300 | ||
Kakao-Shinhan 1st TNYT Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 165 | ||
KoFC-Neoplux R&D-Biz Creation 2013-1 Investment | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 9 | ||
Fees and commission income | 44 | ||
Future-Creation Neoplux Venture Capital Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 14 | ||
Fees and commission income | 116 | ||
Neoplux Market-Frontier Secondary Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 416 | ||
Gyeonggi-Neoplux Superman Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 149 | ||
Shinhan-Neoplux Energy Newbiz Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 308 | ||
NewWave 6th Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 303 | ||
SHINHAN-NEO Core Industrial Technology Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 3 | ||
KTC-NP Growth Champ 2011-2 Private Equity Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | 5 | ||
Fees and commission income | 86 | ||
Neoplux No.3 Private Equity Fund | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 748 | ||
Pacific Sunny Professional Investors Private Placement Real Estate Investment Company No.45 | |||
Related parties - Transactions with the related parties [Line Items] | |||
Fees and commission income | 1,412 | ||
CREDIAN T&F 2020 CORPORATE FINANCIAL STABILITY PRIVATE EQUITY FUND | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest expense | (1) | ||
Key management personnel and their immediate relatives | |||
Related parties - Transactions with the related parties [Line Items] | |||
Interest income | ₩ 126 | ₩ 161 | ₩ 101 |
Related parties - Key managemen
Related parties - Key management personnel compensation (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Key management personnel compensation [Abstract] | ||||
Short-term employee benefits | ₩ 23,468 | ₩ 21,237 | ₩ 22,502 | |
Severance benefits | 651 | 731 | 419 | |
Share-based payment transactions | [1] | 2,628 | 12,343 | 4,944 |
Key management personnel compensation | ₩ 26,747 | ₩ 34,311 | ₩ 27,865 | |
[1] | The expenses of share-based payment transactions are the renumeration 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, 2020 | Dec. 31, 2019 | |
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, 2020 | Dec. 31, 2019 | |
Related parties - Collaterals provided by the related parties [Line Items] | ||
Amount of collaterals | ₩ 53,920 | ₩ 40,920 |
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 | 120 |
Goduck Gangil1 PFV Co., Ltd | Guarantee insurance policy | ||
Related parties - Collaterals provided by the related parties [Line Items] | ||
Amount of collaterals | 28,800 | 28,800 |
Goduck Gangil10 PFV Co., Ltd | Guarantee insurance policy | ||
Related parties - Collaterals provided by the related parties [Line Items] | ||
Amount of collaterals | ₩ 13,000 | ₩ 0 |
Related parties - Significant l
Related parties - Significant loan transactions with related parties (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Investments in associates: | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Beginning | ₩ 36,773 | ₩ 11,966 | |
Loan | 58,200 | 24,800 | |
Recover | (18,800) | ||
Other | [1] | (780) | 7 |
Ending | 75,393 | 36,773 | |
Nomura investment property trust No.19 | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Beginning | 11,973 | 11,966 | |
Loan | 0 | 0 | |
Recover | 0 | 0 | |
Other | [1] | 0 | 7 |
Ending | 11,973 | 11,973 | |
IGIS PRIVATE REAL ESTATE TRUST NO.331 | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Loan | 10,000 | ||
Other | [1] | (312) | |
Ending | 9,688 | ||
EDNCENTRAL Co.,Ltd. | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Loan | 20,000 | ||
Recover | 0 | ||
Other | [1] | (619) | |
Ending | 19,381 | ||
Goduck Gangil1 PFV Co., Ltd | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Beginning | 24,000 | 0 | |
Loan | 0 | 24,000 | |
Recover | 0 | 0 | |
Other | [1] | 0 | 0 |
Ending | 24,000 | 24,000 | |
Goduck Gangil10 PFV Co., Ltd | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Loan | 28,200 | ||
Recover | (18,800) | ||
Other | [1] | 0 | |
Ending | 9,400 | ||
IMM Global Private Equity Fund | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Beginning | 800 | 0 | |
Loan | 0 | 800 | |
Recover | 0 | 0 | |
Other | [1] | 0 | 0 |
Ending | 800 | ₩ 800 | |
COSPEC BIM tech | |||
Related parties - Significant loan transactions with related parties [Line Items] | |||
Loan | 0 | ||
Recover | 0 | ||
Other | [1] | 151 | |
Ending | ₩ 151 | ||
[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, 2020 | Dec. 31, 2019 |
Unconsolidated structured entities | ||
Size of unconsolidated structured entities [Line Items] | ||
Total assets | ₩ 715,297,320 | ₩ 619,187,523 |
Assets-backed securitization | ||
Size of unconsolidated structured entities [Line Items] | ||
Total assets | 253,958,036 | 208,441,947 |
Structured financing | ||
Size of unconsolidated structured entities [Line Items] | ||
Total assets | 257,475,395 | 195,374,046 |
Investment funds | ||
Size of unconsolidated structured entities [Line Items] | ||
Total assets | ₩ 203,863,889 | ₩ 215,371,530 |
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, 2020 | Dec. 31, 2019 |
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 | ₩ 35,908,782 | ₩ 32,219,449 |
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 | 406,013 | 80,373 |
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 | 12,594,196 | 11,657,024 |
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 | 14,308,104 | 13,154,346 |
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 | 11,403 | 22,521 |
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 | 2,227,903 | 2,333,275 |
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 | 6,294,228 | 4,894,942 |
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 | 66,935 | 76,968 |
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 | 24,613 | 11,139 |
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 | 582 | 0 |
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 | 24,031 | 11,139 |
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 | 14,008,081 | 11,565,871 |
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 | 10,007 | 10,646 |
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 | 882,708 | 785,134 |
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 | 4,703,527 | 3,705,565 |
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 | 10,353 | 21,494 |
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 | 2,105,239 | 2,144,846 |
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 | 6,294,228 | 4,894,942 |
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 | 2,019 | 3,244 |
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 | 3,192 | 682 |
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 | 582 | 0 |
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 | 2,610 | 682 |
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 | 12,411,988 | 10,552,232 |
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 | 396,006 | 69,727 |
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 | 11,631,322 | 10,207,866 |
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 | 200,966 | 70,407 |
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 | 1,050 | 1,027 |
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 | 122,664 | 188,429 |
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 | 59,980 | 14,776 |
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 | 21,421 | 10,457 |
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 | 21,421 | 10,457 |
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 | 9,488,713 | 10,101,346 |
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 | 0 |
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 | 80,166 | 664,024 |
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 | 9,403,611 | 9,378,374 |
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 | 0 |
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 | 4,936 | 58,948 |
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, 2020 | Dec. 31, 2019 |
Unconsolidated structured entities | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | ₩ 40,308,510 | ₩ 36,262,869 |
Unconsolidated structured entities | Assets held | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 35,908,782 | 32,219,449 |
Unconsolidated structured entities | ABS and ABCP commitments | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 2,857,448 | 2,079,505 |
Unconsolidated structured entities | Loan commitments [Member] | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 1,325,890 | 1,701,424 |
Unconsolidated structured entities | Guarantees | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 87,293 | 143,522 |
Unconsolidated structured entities | Others | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 129,097 | 118,969 |
Assets-backed securitization | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 15,645,517 | 13,760,004 |
Assets-backed securitization | Assets held | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 14,008,081 | 11,565,871 |
Assets-backed securitization | ABS and ABCP commitments | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 932,113 | 1,208,707 |
Assets-backed securitization | Loan commitments [Member] | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 618,030 | 845,904 |
Assets-backed securitization | Guarantees | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 87,293 | 139,522 |
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 | 13,245,358 | 11,533,021 |
Structured financing | Assets held | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 12,411,988 | 10,552,232 |
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 | 707,860 | 855,520 |
Structured financing | Guarantees | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 0 | 4,000 |
Structured financing | Others | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 123,210 | 118,969 |
Investment funds | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 11,417,635 | 10,969,844 |
Investment funds | Assets held | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 9,488,713 | 10,101,346 |
Investment funds | ABS and ABCP commitments | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 1,923,035 | 868,498 |
Investment funds | Loan commitments [Member] | ||
Exposure to risk relating to its interests in unconsolidated structured entities [Line Items] | ||
Exposure to risk | 0 | 0 |
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 | ₩ 5,887 | ₩ 0 |
Fair values of assets acquired
Fair values of assets acquired and liabilities assumed as of acquisition date (Details) - Neoplux Co., Ltd. ₩ in Millions | Dec. 31, 2020KRW (₩) | [1] |
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | ₩ 58,868 | |
Assets | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | 72,672 | |
Cash and due from banks at amortized cost | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | 179 | |
Investment assets in the long-term | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | 463 | |
Venture capital investment assets | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | 38,800 | |
Private equity investment company investment assets | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | 12,230 | |
Property and equipment | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | 835 | |
Intangible assets | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | 1,254 | |
Other assets | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | 18,911 | |
Liabilities | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | (13,804) | |
Borrowings | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | (9,000) | |
Other liabilities | ||
Fair values of assets acquired and liabilities assumed as of acquisition date [Line Items] | ||
Fair value of the identifiable net assets | ₩ (4,804) | |
[1] | The accounting for the acquisition of Neoplux Co., Ltd. is tentatively determined using the identifiable assets and liabilities recognized by Neoplux Co., Ltd. at the time of business combination. For the year ended December 31, 2020, the acquisition has not completed the identification of intangible assets for allocation and the fair value assessment of identifiable assets and liabilities. The goodwill may vary depending on the results of the fair value assessment of the identifiable assets and liabilities for the allocation of the consideration. |
Goodwill recognized as a result
Goodwill recognized as a result of business combination (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Goodwill recognized as a result of business combination [Line Items] | |||
Goodwill | ₩ 14,440 | ₩ 871,285 | |
Neoplux Co., Ltd. | |||
Goodwill recognized as a result of business combination [Line Items] | |||
Consideration transferred in cash | 71,128 | ||
Fair value of identifiable net assets | [1] | (58,868) | |
Noncontrolling Interest | [2] | 1,718 | |
Goodwill | ₩ 13,978 | ||
[1] | The accounting for the acquisition of Neoplux Co., Ltd. is tentatively determined using the identifiable assets and liabilities recognized by Neoplux Co., Ltd. at the time of business combination. For the year ended December 31, 2020, the acquisition has not completed the identification of intangible assets for allocation and the fair value assessment of identifiable assets and liabilities. The goodwill may vary depending on the results of the fair value assessment of the identifiable assets and liabilities for the allocation of the consideration. | ||
[2] | For the year ended December 31, 2020, the non-controlling interests for Neoplux Co., Ltd. are measured at proportionate shares of non-controlling interests in the acquiree's identifiable net assets for Neoplux Co.,Ltd. At the business combination, the goodwill is generated because the transfer price includes the premium of corporate control paid to acquire Neoplux Co.,Ltd. The transfer price for the business combination includes expected synergies, future market growth, and the amount related to human resources. These benefits are not recognized separately from goodwill because it does not meet the recognition requirements for identifiable intangible assets. |
Net cash outflows due to busine
Net cash outflows due to business combination (Detail) - Neoplux Co., Ltd. ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020KRW (₩) | ||
Net cash outflows due to business combination [Line Items] | ||
Consideration transferred in cash | ₩ 71,128 | |
Acquired cash and cash equivalents | (174) | [1] |
Net cash outflows | ₩ 70,954 | |
[1] | The amount of cash and cash equivalents acquired is the amount of cash and amortized cost measurement deposits minus the amount of restricted deposits. |
Uncertainty due to changes in_3
Uncertainty due to changes in domestic and global economic conditions (Details) ₩ in Millions | Dec. 31, 2020KRW (₩) |
Shinhan Bank | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | ₩ 6,467,123 |
Securities at fair value through profit or loss | 6,148 |
Securities at fair value through other comprehensive income | 296,719 |
Off-balance accounts | 4,873,003 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 11,642,993 |
Shinhan Bank | Airlift passenger | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 120,854 |
Securities at fair value through profit or loss | 0 |
Securities at fair value through other comprehensive income | 52,878 |
Off-balance accounts | 404,767 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 578,499 |
Shinhan Bank | Lodging | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 3,445,269 |
Securities at fair value through profit or loss | 0 |
Securities at fair value through other comprehensive income | 2,611 |
Off-balance accounts | 289,948 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 3,737,828 |
Shinhan Bank | Oil/petroleum refinery | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 685,336 |
Securities at fair value through profit or loss | 3,088 |
Securities at fair value through other comprehensive income | 224,894 |
Off-balance accounts | 3,058,516 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 3,971,834 |
Shinhan Bank | Art-related | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 244,036 |
Securities at fair value through profit or loss | 0 |
Securities at fair value through other comprehensive income | 0 |
Off-balance accounts | 9,630 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 253,666 |
Shinhan Bank | Movie theater | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 95,240 |
Securities at fair value through profit or loss | 0 |
Securities at fair value through other comprehensive income | 6,539 |
Off-balance accounts | 111,266 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 213,045 |
Shinhan Bank | Clothing manufacturing | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 1,763,741 |
Securities at fair value through profit or loss | 3,060 |
Securities at fair value through other comprehensive income | 9,797 |
Off-balance accounts | 938,705 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 2,715,303 |
Shinhan Bank | Travel | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 112,647 |
Securities at fair value through profit or loss | 0 |
Securities at fair value through other comprehensive income | 0 |
Off-balance accounts | 60,171 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 172,818 |
Shinhan Card Co., Ltd. | Retail | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost from Credit sales | 357,589 |
Loans at amortized cost from Short term card loan | 142,252 |
Loans at amortized cost from Long term card loan | 283,150 |
Securities at fair value through profit or loss | 0 |
Securities at fair value through other comprehensive income | 0 |
Off-balance accounts | 702,124 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 1,485,115 |
Jeju Bank | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 1,413,182 |
Off-balance accounts | 53,250 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 1,466,432 |
Jeju Bank | Lodging | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 599,875 |
Off-balance accounts | 20,658 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 620,533 |
Jeju Bank | Retail | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 517,843 |
Off-balance accounts | 18,691 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 536,534 |
Jeju Bank | Manufacturing | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 30,095 |
Off-balance accounts | 563 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 30,658 |
Jeju Bank | Construction Industry | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 85,640 |
Off-balance accounts | 7,100 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 92,740 |
Jeju Bank | Leisure related service industry | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 57,677 |
Off-balance accounts | 1,053 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 58,730 |
Jeju Bank | Transportation Business | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 29,679 |
Off-balance accounts | 2,103 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | 31,782 |
Jeju Bank | Others | |
Risk exposures by major consolidated subsidiaries due to COVID-19 [Line Items] | |
Loans at amortized cost | 92,373 |
Off-balance accounts | 3,082 |
Risk exposures by major consolidated subsidiaries due to COVID-19 | ₩ 95,455 |
The exposure of the borrowers w
The exposure of the borrowers who applied for moratorium of interest payments and moratorium of repayment in installments by Shinhan Bank (Details) ₩ in Millions | Dec. 31, 2020KRW (₩) |
The exposure of the borrowers who applied for moratorium of interest payments and moratorium of repayment in installments [Abstract] | |
Moratorium of interest payments | ₩ 242,794 |
Moratorium of repayment in installments | 1,067,502 |
Moratorium of interest payments and moratorium of repayment in installments | 80,581 |
The exposure of the borrowers who applied for moratorium of interest payments and moratorium of repayment in installments | ₩ 1,390,877 |
Difference between the amount o
Difference between the amount of operating lease agreements (Details) ₩ in Millions | Jan. 01, 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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Changes in equity due to application of IFRS 9 and 15 [Line Items] | ||||||
Equity at January 1, 2018 before changes | ₩ 46,356,858 | ₩ 41,930,381 | ₩ 36,651,430 | ₩ 33,703,617 | ||
Adjustments Of Equity Due To The Application Of IFRS9 [Abstract] | ||||||
Effect of overlay approach application | 177,688 | 216,492 | ||||
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 | 44,069,567 | 39,177,946 | 35,725,625 | 32,820,220 | ||
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 | 27,777,169 | 25,525,821 | 22,959,440 | 20,791,680 | |
Adjustments Of Equity Due To The Application Of IFRS9 [Abstract] | ||||||
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 [Member] | ||||||
Changes in equity due to application of IFRS 9 and 15 [Line Items] | ||||||
Equity at January 1, 2018 before changes | (529,734) | ₩ (404,181) | ₩ (260,156) | ₩ (753,220) | ₩ (529,734) | |
Adjustments Of Equity Due To The Application Of IFRS9 [Abstract] | ||||||
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 and silver 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 and silver 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 and silver 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 and silver 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 | (590,406) |
Carrying value based on the new standard | (590,406) |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Provisions | |||
Card point | ₩ 0 | ||
Other liabilities | |||
Accounts payable | ₩ 14,568,962 | ₩ 11,894,764 | 9,748,168 |
Unearned income | 317,283 | 294,710 | 236,827 |
Sundry liabilities | ₩ 1,617,449 | ₩ 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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fees and commission income: | |||
Credit card fees | ₩ 1,170,078 | ₩ 1,234,239 | ₩ 1,360,322 |
Fees and commission expense: | |||
Credit card fees | ₩ (849,256) | ₩ (915,521) | (944,533) |
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, 2020 | Dec. 31, 2019 |
Investment (at equity) in subsidiaries: | ||
Financial assets at FVTPL | ₩ 59,091,403 | ₩ 53,163,143 |
Derivative assets | 5,633,915 | 2,829,274 |
Other assets: | ||
Other | 32,194,666 | 27,878,281 |
Total assets | 605,234,104 | 552,419,581 |
Liabilities | ||
Debt securities issued | 75,134,394 | 75,363,364 |
Derivative liabilities | 5,016,567 | 2,303,012 |
Accrued expenses & other liabilities | 45,526,213 | 38,237,558 |
Total liabilities | 558,877,246 | 510,489,200 |
Equity | ||
Total equity | 46,356,858 | 41,930,381 |
Total liabilities and equity | 605,234,104 | 552,419,581 |
Parent Company only | ||
Deposits [Abstract] | ||
Banking subsidiaries | 3 | 167 |
Receivables from subsidiaries: | ||
Non-banking subsidiaries | 3,218,455 | 2,219,698 |
Investment (at equity) in subsidiaries: | ||
Banking subsidiaries | 13,797,222 | 13,797,222 |
Non-banking subsidiaries | 16,157,962 | 15,183,053 |
Financial assets at FVTPL | 1,810,867 | 443,377 |
Derivative assets | 39,392 | 24,352 |
Property, equipment and intangible assets, net | 10,360 | 11,106 |
Other assets: | ||
Banking subsidiaries | 260,342 | 408,436 |
Non-banking subsidiaries | 173,473 | 171,321 |
Other | 15,838 | 2,590 |
Total assets | 35,483,914 | 32,261,322 |
Liabilities | ||
Debt securities issued | 9,920,059 | 9,147,640 |
Derivative liabilities | 22,133 | 17,687 |
Accrued expenses & other liabilities | 484,625 | 630,569 |
Total liabilities | 10,426,817 | 9,795,896 |
Equity | ||
Total equity | 25,057,097 | 22,465,426 |
Total liabilities and equity | ₩ 35,483,914 | ₩ 32,261,322 |
Condensed Shinhan Financial G_4
Condensed Shinhan Financial Group (Parent Company only) Statement of Income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Expenses | |||
Interest expense | ₩ (4,891,296) | ₩ (5,969,398) | ₩ (4,992,367) |
Profit before income taxes | 4,753,871 | 4,911,508 | 4,466,610 |
Income tax expense | 1,255,795 | 1,269,124 | 1,268,345 |
Profit for the year | 3,498,076 | 3,642,384 | 3,198,265 |
Parent Company only | |||
Income | |||
Dividends from banking subsidiaries | 892,420 | 892,310 | 541,524 |
Dividends from non-banking subsidiaries | 495,110 | 428,634 | 866,150 |
Interest income from banking subsidiaries | 194 | 263 | 268 |
Interest income from non-banking subsidiaries | 68,914 | 38,968 | 31,224 |
Other income | 268,784 | 125,324 | 74,215 |
Total income | 1,725,422 | 1,485,499 | 1,513,381 |
Expenses | |||
Interest expense | (231,205) | (206,815) | (187,882) |
Other expense | (216,708) | (147,589) | (89,145) |
Total expenses | (447,913) | (354,404) | (277,027) |
Profit before income taxes | 1,277,509 | 1,131,095 | 1,236,354 |
Income tax expense | 3,066 | 1,922 | 1,471 |
Profit for the year | ₩ 1,274,443 | ₩ 1,129,173 | ₩ 1,234,883 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities | |||
Profit before income taxes | ₩ 4,753,871 | ₩ 4,911,508 | ₩ 4,466,610 |
Non-cash items included in profit before tax | (6,265,783) | (5,499,341) | (5,531,693) |
Changes in operating assets and liabilities | 11,096,326 | 544,938 | 12,618,248 |
Net interest paid | (5,267,781) | (5,793,865) | (5,058,596) |
Dividend received from subsidiaries | 80,728 | 35,716 | 63,826 |
Income tax refunds | 1,184,910 | 1,130,148 | 850,696 |
Net cash provided by (used in) operating activities | (4,409,317) | 7,179,046 | (6,320,196) |
Cash flows from investing activities | |||
Other, net | 11,233 | (264,585) | (311,744) |
Net cash provided by (used in) investing activities | (3,025,926) | (22,687,867) | (5,512,585) |
Cash flows from financing activities | |||
Issuance of convertible preferred shares | 0 | 747,791 | 0 |
Issuance of hybrid bonds | 448,698 | 199,476 | 1,107,838 |
Net changes in borrowings | 7,465,106 | 5,017,269 | 1,772,203 |
Issuance of debt securities issued | 21,480,455 | 31,083,390 | 26,487,712 |
Repayments of debt securities issued | (21,508,827) | (19,881,717) | (14,689,246) |
Dividends paid | (968,847) | (830,772) | (714,705) |
Acquisition of treasury stock | (150,182) | (444,077) | (151,993) |
Redemption of lease liabilities | (781,867) | (269,362) | 0 |
Net cash provided by (used in) financing activities | 7,880,569 | 15,878,811 | 13,806,527 |
Net increase (decrease) in cash and cash equivalents | 383,808 | 399,418 | 1,943,106 |
Cash and cash equivalents at beginning of year | 8,579,174 | 8,179,756 | 6,236,650 |
Cash and cash equivalents at end of year | 8,962,982 | 8,579,174 | 8,179,756 |
Parent Company only | |||
Cash flows from operating activities | |||
Profit before income taxes | 1,277,509 | 1,131,095 | 1,236,354 |
Non-cash items included in profit before tax | (1,313,967) | (1,164,022) | (1,251,379) |
Changes in operating assets and liabilities | (1,272,738) | 1,475,702 | (1,671,189) |
Net interest paid | (165,570) | (154,765) | (153,926) |
Dividend received from subsidiaries | 1,386,843 | 1,320,944 | 1,407,674 |
Income tax refunds | 0 | (194) | 0 |
Net cash provided by (used in) operating activities | (87,923) | 2,608,760 | (432,466) |
Cash flows from investing activities | |||
Net loan origination to non-banking subsidiaries | (1,073,657) | (575,936) | (412,630) |
Acquisition of subsidiary | (73,335) | (2,977,196) | (42,273) |
Other, net | (100,875) | (660) | (231,281) |
Net cash provided by (used in) investing activities | (1,247,867) | (3,553,792) | (686,184) |
Cash flows from financing activities | |||
Issuance of common stocks | 1,154,347 | 0 | 0 |
Issuance of convertible preferred shares | 0 | 747,791 | 0 |
Issuance of hybrid bonds | 448,699 | 199,476 | 1,107,838 |
Net changes in borrowings | 0 | (125,000) | 120,000 |
Issuance of debt securities issued | 2,240,581 | 3,194,764 | 2,396,138 |
Repayments of debt securities issued | (1,384,000) | (1,844,000) | (1,590,000) |
Dividends paid | (968,847) | (830,772) | (714,705) |
Acquisition of treasury stock | (150,448) | (444,077) | (151,993) |
Disposition of and incineration cost of treasury stock | (3,033) | 0 | 0 |
Redemption of lease liabilities | (1,673) | (1,614) | 0 |
Net cash provided by (used in) financing activities | 1,335,626 | 896,568 | 1,167,278 |
Net increase (decrease) in cash and cash equivalents | (164) | (48,464) | 48,628 |
Cash and cash equivalents at beginning of year | 164 | 48,628 | 0 |
Cash and cash equivalents at end of year | ₩ 0 | ₩ 164 | ₩ 48,628 |