Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 102

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 102
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 of credit card holders(1) |     |                                   | 13,316 |   |     |      | 13,211 |   |     |      | 13,035 |   |
| Personal accounts                |     |                                   | 13,140 |   |     |      | 13,047 |   |     |      | 12,873 |   |
| Corporate accounts               |     |                                   |    176 |   |     |      |    164 |   |     |      |    162 |   |
| Active ratio(2)                  |     |                                   |  96.61 | % |     |      |  97.46 | % |     |      |  97.54 | % |
| Number of merchants              |     |                                   |  3,032 |   |     |      |  3,121 |   |     |      |  3,182 |   |

61

Notes:

| (1) | Represents the number of cardholders whose card use is not subject to suspension or termination as of the relevant date. |

| (2) | Represents the ratio of accounts used at least once within the last six months to the total accounts as of year-end. |

Installment Finance Shinhan Card provides installment finance services to customers to facilitate purchases of durable consumer goods such as new and used cars, appliances, computers and other home electronics products. Revenues from installment finance operations accounted for 3.99% of Shinhan Card’s total operating revenue in 2024. Shinhan Card pays the merchants when Shinhan Card’s customers purchase such goods, and the customers remit monthly installment payments to Shinhan Card over a number of months, generally up to 36 months (and, in the case of installment financings for automobile purchases, up to 72 months), as agreed with the customers. For installment finance products for new cars, Shinhan Card historically charged, in addition to interest, an initial financing fee of up to 9.9% of the purchase price, depending on the customer’s credit score, the installment period and installment amount. Initial financing fees charged in connection with installment finance products for new cars, however, were abolished effective March 2, 2013 pursuant to the Financial Consumer Report (Automobile Financings) issued by the Financial Supervisory Service on January 29, 2013. Shinhan Card has installment financing arrangements with over 13,000 merchants in Korea, including