Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 297

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 297
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31, 2024 from W411,740 billion as of December 31, 2023, primarily due to an increase in corporate loans and, to a lesser extent, an increase in retail loans. Cash and due from banks at amortized cost increased by 17.0% to W40,526 billion as of December 31, 2024 from W34,629 billion as of December 31, 2023, primarily due to an increase in deposits denominated in foreign currency amid growth of our overseas businesses. Derivative assets increased by 118.2% to W10,279 billion as of December 31, 2024 from W4,711 billion as of December 31, 2023, primarily due to an increase in over-the-counterderivative assets related to foreign currency amid the depreciation of the Korean Won against foreign currencies in 2024. 2023 Compared to 2022 Our assets increased by 4.1% from W664,433 billion as of December 31, 2022 to W691,795 billion as of December 31, 2023, principally due to increases in financial assets at fair value through profit or loss, securities at fair value through other comprehensive income, and cash and due from banks at amortized cost. 220

Our financial assets at fair value through profit or loss increased by 15.8% to W71,217 billion as of December 31, 2023 from W61,508 billion as of December 31, 2022, primarily due to an increase in corporate bonds and bills purchased. Our securities at fair value through other comprehensive income increased by 5.7% to W90,312 billion as of December 31, 2023 from W85,469 billion as of December 31, 2022, primarily due to an increase in government bonds and securities at fair value through other comprehensive income in foreign currency. Our cash and due from banks at amortized cost increased by 15.2% to W34,629 billion as of December 31, 2023 from W30,051 billion as of December 31, 2022, primarily due to an increase in due from banks. Liabilities and Equity The following table sets forth, as of the dates indicated, the principal components of our liabilities.

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