Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 492

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 492
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 calculated by discounting the contractual cash flows at a discount rate which considered residual risk at the market interest rate. |

<div align='center'>F-9 7</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) |

|                                        |     |            2023 |             |     |            |             |     |            2024 |             |     |            |             |
|                                        |     | Carrying amount |             |     | Fair value |             |     | Carrying amount |             |     | Fair value |             |
| Assets:                                |     |                 |             |     |            |             |     |                 |             |     |            |             |
| Deposits measured at amortized cost    |     |               W |  32,455,701 |     |            |  32,338,446 |     |                 |  38,228,750 |     |            |  38,159,135 |
| Loans measured at amortized cost       |     |                 | 411,739,562 |     |            | 414,024,035 |     |                 | 449,295,238 |     |            | 452,724,752 |
| Securities measured at amortized cost: |     |                 |             |     |            |             |     |                 |             |     |            |             |
| Government bonds                       |     |                 |  22,787,609 |     |            |  22,182,130 |     |                 |  21,808,057 |     |            |  21,625,666 |
| Financial institution bonds            |     |                 |   5,864,626 |     |            |   5,906,724 |     |                 |   3,787,661 |     |            |   3,828,599 |
| Corporation bonds                      |     |                 |   7,034,252 |     |            |   6,879,983 |     |                 |   7,720,281 |     |            |   7,694,086 |
|                                        |     |                 |  35,686,487 |     |