Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 171

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 171
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 net exposure at US$0.3 million. The net open foreign currency positions held by our other subsidiaries are insignificant. The following table shows Shinhan Bank’s net foreign currency open positions As of December 31, 2022, 2023 and 2024. Positive amounts represent long exposures and negative amounts represent short exposures.

| Currency     |     | As of December 31,   
 2022                 
 (In millions of US$) |         |     | 2023 |         |     | 2024 |         |   |
|:-------------|:----|:---------------------|--------:|:----|:-----|--------:|:----|:-----|--------:|:--|
| U.S. Dollars |     | $                    |    40.8 |     | $    |   663.7 |     | $    |   (21.4 | ) |
| Japanese Yen |     |                      |   467.7 |     |      |   494.7 |     |      |    73.2 |   |
| Euro         |     |                      |     5.3 |     |      |     7.8 |     |      |    55.4 |   |
| Others       |     |                      | 2,320.9 |     |      | 2,344.2 |     |      | 2,637.2 |   |
| Total        |     | $                    | 2,834.6 |     | $    | 3,510.3 |     | $    | 2,744.4 |   |

Equity Risk Shinhan Bank’s equity risk related to trading activities mainly involves trading equity portfolios of Korean companies and Korea Stock Price Index futures and options. The trading equity portfolio consists of stocks listed on the KRX KOSPI Market or the KRX KOSDAQ Market of the Korea Exchange and nearest-month or second nearest-month futures contracts under strict limits on diversification as well as limits on positions. Shinhan Bank maintains strict scrutiny of these activities in light of the volatility in the Korean stock market and closely monitors the loss limits and the observance thereof. Although Shinhan Bank holds a substantially smaller amount of equity securities than debt securities in its trading accounts, the VaR of trading account equity risk is generally higher than that of trading account interest rate risk due to high volatility in the value of equity securities. As of December 31, 2022