Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 259

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 259
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                         |     | 67, Digital Valley-ro, Suji-gu, Yongin-si, Gyeonggi-do, Korea 16878         |     |                    | 45,277 |     |            | 9,114 |

Our subsidiaries own or lease various land and buildings for their branches and sales offices. As of December 31, 2024, Shinhan Bank had a countrywide network of 693 branches. Approximately 20% of these facilities were housed in buildings owned by us, while the remaining branches were leased properties. Lease terms are generally between two to three years and generally do not exceed five years. As of December 31, 2024, Jeju Bank had 31 branches of which we own 13 of the buildings in which the facilities are located, representing 41.9% of its total branches. Lease terms are generally between one to two years and seldom exceed five years. As of December 31, 2024, Shinhan Card had 44 branches, including its headquarters, all but two of which were leased. Lease terms are generally between one to two years. As of December 31, 2024, Shinhan Securities had a nationwide network of 66 branches of which we own four of the buildings. As of December 31, 2024, Shinhan Life Insurance had 204 branches, which we lease for a term of generally one to two years. The net book value of all the properties owned by us on December 31, 2024 was W2,767 billion. We do not own any material properties outside of Korea.

| ITEM 4A. | UNRESOLVED STAFF COMMENTS |

We do not have any unresolved comments from the staff of the U.S. Securities and Exchange Commission regarding our periodic reports under the Securities Exchange Act of 1934, as amended.

| ITEM 5. | OPERATING AND FINANCIAL REVIEW AND PROSPECTS |

You should read the following discussion and analysis of our financial condition and results of operations together with our consolidated financial statements and notes thereto included in this annual report. The following discussion is based on our consolidated financial statements, which have been prepared in accordance with IFRS.

| ITEM 5.A. | Operating Results |

Overview We are one of the leading financial institutions in Korea in terms of total assets, revenues, profitability and capital adequacy, among others. Incorporated on September 1, 2001, we are the first privately-held financial 182