Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 452

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 452
---
 |
| Government bond 3y yields (%)                    |     | —                   |     |                            |   6.7 |   |

| (*1) | As a result of examining the correlation between each variable, Shinhan Bank applied the GDP growth rate and private consumption index increase rate, etc. as the major variables to reflect the final forward-looking information, while, Shinhan Card applied the private consumption rate and CPI increase rate, etc. as the major variables. In addition to the table above, the Group has selected unemployment rate and KOSPI forecasts. |

| (*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. |

| (*4) | Shinhan Bank and Jeju Bank reviewed and reflected the Worst scenario (during the foreign exchange crisis) in addition to the three scenarios of Upside, Central and Downside. |

<December 31, 2024>

① Upside scenario

| Major variables (*1),(*2),(*3)                   |    | Correlationbetweencredit risks |    |     |    | 2024.4Q |       |     |    | 2025 |       |     |    |     |       |     |       |     |       |
|                                                  | 1Q |                                |    |     | 2Q |         |       |     | 3Q |      |       |     | 4Q |     |       |     |       |     |       |
| GDP growth rate (YoY %)                          |    |                                | -- |     |    |         |   2.1 |     |    |      |   1.5 |     |    |     |   2.4 |     |   3.2 |     |   2.8 |
| Private consumption index (YoY %)                |    |                                | -- |     |    |         |   1.2 |     |    |      |   1.6 |     |    |     |   2.5 |     |   2.6 |     |   2.5 |
| Facility investment growth rate (YoY %)          |    |                                | -- |     |    |         |