Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 127

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 127
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 — We and our subsidiaries need to maintain our capital ratios above minimum required levels, and the failure to so maintain could result in the suspension of some or all of our operations.” There is no assurance that these measures will have the effect of curbing competition or that the Government will not reverse or reduce such measures or introduce other deregulatory measures, which may further intensify competition in the Korean financial services industry. For further details on the capital requirements applicable to us, see “Item 4.B. Business Overview — Supervision and Regulation — Principal Regulations Applicable to Financial Holding Companies — Capital Adequacy.”

If, despite our efforts to adapt to the changing macroeconomic environment and comply with new regulations, we are unable to compete effectively in the changing business and regulatory environment, our profit margin and market share may erode and our future growth opportunities may become limited, which could adversely affect our business, financial condition and results of operations. See “Item 3.D. Risk Factors — Risks Relating to Our Overall Business — Competition in the Korean financial services industry is intense, and may further intensify” and “— Supervision and Regulation.”

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Description of Assets and Liabilities Loans As of December 31, 2024, our total gross loan portfolio was W455,125 billion, which represented an increase of 9.1% from W417,346 billion on December 31, 2023. The increase in our portfolio primarily reflects an 11.1% increase in corporate loans, a 7.1% increase in retail loans and a 2.9% increase in credit card loans. Asset Quality Ratios

|                                                                     |     |                      As of December 31, |         |   |     |      |         |   |     |      |         |   |
|                                                                     |     |                                    2022 |         |   |     | 2023 |         |   |     | 2024 |         |   |
|                                                                     |     | -In billions of Won, except percentages |         |   |     |      |         |   |     |      |         |   |
| Total gross loans                                                   |     |                                       W | 413,436 |   |     |    W | 417,346 |   |     |    W | 455,125 |   |
| Total allowance for credit losses on loans                          |     |                                       W |   3,651 |   |     |    W |   4