Shinhan Financial Group reported that its net income for the first quarter was 1.4883 trillion won as of the 25th. This figure represents a 12.6% increase compared to the same quarter last year (1.3215 trillion won). It marks the largest performance recorded since the group's founding for the first quarter.
The lack of expense related to Hong Kong H index-linked securities (ELS) compensation, which affected last year's first-quarter performance, along with an increase in the scale of loans, is interpreted as contributing to the rise in net income.
In the first quarter, the group's total interest income was 2.8549 trillion won, a 1.4% increase compared to the same period last year. Non-interest income was 939.3 billion won, a 6.3% decrease from the previous year. Shinhan Financial explained that profits from card and securities commissions and insurance-related income decreased compared to last year.
The Basel III standard capital adequacy ratio, which measures the group's soundness, stood at 15.97%, while the common equity tier 1 (CET1) ratio was 13.27%.
Looking at each affiliate, Shinhan Bank's net income for the first quarter was 1.1283 trillion won, an increase of 21.5% compared to last year's 928.6 billion won. Additionally, Shinhan Investment Corp. recorded 107.9 billion won, Shinhan Life recorded 165.2 billion won, and Shinhan Card recorded 135.7 billion won in net income.
Ahead of the performance announcement on this day, Shinhan Financial Group held a board meeting and resolved to pay a dividend of 570 won per share. They also announced a 'detailed plan for implementing the corporate value enhancement plan for 2025,' which includes increasing return on equity (ROE), maintaining a CET1 ratio above 13.1%, and a shareholder return rate above 42%.