Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 490

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 490
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104 |     |             | (57,315 | ) |

<div align='center'>F- 9 5</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 5. | Financial risk management (continued) |

|                                                                       |     |      2024 |         |     |             |         |   |
|                                                                       |     | Favorable 
   changes |         |     | Unfavorable 
 changes     |         |   |
| Financial assets:                                                     |     |           |         |     |             |         |   |
| Effects on profit or loss for the period (*1), (*2):                  |     |           |         |     |             |         |   |
| Financial asset at fair value through profit or loss                  |     |         W |  38,489 |     |             | (33,351 | ) |
| Derivative assets                                                     |     |           |  14,813 |     |             | (14,777 | ) |
| Securities at fair value through other comprehensive income (*2)      |     |           |  74,482 |     |             | (49,291 | ) |
|                                                                       |     |         W | 127,784 |     |             | (97,419 | ) |
| Financial liabilities:                                                |     |           |         |     |             |         |   |
| Effects on profit or loss for the period (*1):                        |     |           |         |     |             |         |   |
| Financial liabilities designated at fair value through profit or loss |     |         W |  19,782 |     |             | (20,339 | ) |
| Derivative liabilities                                                |     |           |  25,420 |     |             | (21,955 | ) |
|                                                                       |     |         W |  45,202 |     |             | (42,294 | ) |

| (*1) | Fair value changes are calculated by increasing or decreasing the volatility of the underlying asset(-10~10%p)or correlations(-10~10%p),a significant unobservable input. |

| (*2) | Fair value changes are calculated by increasing or decreasing the growth rate and discount rate, which are a significant unobservable input, from-1%pto