Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 272

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 272
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     |                                  | 26.27 |   |     |      | 28.49 |   |     |      | 27.75 |   |
| Net interest spread(3)                               |     |                                  |  1.66 |   |     |      |  1.55 |   |     |      |  1.56 |   |
| Net interest margin(4)                               |     |                                  |  1.78 |   |     |      |  1.78 |   |     |      |  1.76 |   |
| Efficiency ratio(5)                                  |     |                                  | 87.33 |   |     |      | 86.73 |   |     |      | 89.35 |   |
| Cost-to-income ratio(6)                              |     |                                  | 43.86 |   |     |      | 41.38 |   |     |      | 41.68 |   |
| Cost-to-average assets ratio(1)(7)                   |     |                                  |  6.57 |   |     |      |  5.73 |   |     |      |  6.98 |   |
| Equity to average asset ratio(1)(8)                  |     |                                  |  7.78 |   |     |      |  8.19 |   |     |      |  7.97 |   |

195

Notes:

| (1) | Average total assets (including average interest-earning assets), liabilities (including average interest-bearing liabilities) and equity are based on (a) monthly balances for Shinhan Bank and (b) quarterly balances for other subsidiaries. |

| (2) | Represents the ratio of total dividends declared on common and preferred stock and hybrid bonds as a percentage of profit attributable to the Group. |

| (3) | Represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. |

| (4) | Represents the ratio of net interest income to average interest-earning assets. |

| (5) | Represents the ratio of non-interest expense to the sum of net interest income and non-interest income. Efficiency ratio is used as a measure of efficiency for banks and financial institutions. Efficiency ratio may be reconciled to comparable line items in our income statements for the periods indicated as follows: |

|                                                            |     |        For the Years Ended December 31, |