Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 269

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 269
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               | 3.90 |     |               | 3.15 |     |                  | 3.83 |     |          | 3.89 |     |                  | 3.35 |     |                    | 4.00 |
| June 28, 2024     |     |               | 3.66 |     |               | 3.18 |     |                  | 3.60 |     |          | 3.74 |     |                  | 3.20 |     |                    | 3.56 |
| December 31, 2024 |     |               | 3.28 |     |               | 2.60 |     |                  | 3.39 |     |          | 3.53 |     |                  | 3.07 |     |                    | 3.35 |

Source: Korea Financial Investment Association Notes:

| (1) | Measured by the yield on three-year AA- rated corporate bonds. |

| (2) | Measured by the yield on three-year treasury bonds. |

| (3) | Measured by the yield on certificates of deposit (with maturity of 91 days). |

| (4) | Measured based on the weighted average of the borrowing rates for the monthly ending balances of the funding made by the commercial banks that are subject of the COFIX reporting. |

| (5) | New COFIX on Outstanding Balance (the “New COFIX”) is a new benchmark COFIX introduced since July 2019. The New COFIX also takes into account other deposits such as inter-bank time deposits and non-resident deposits and other funding sources such as subordinated bonds and convertible bonds in calculating the weighted average of the borrowing rates for the monthly ending balances of the funding made by the commercial banks that are subject of the COFIX reporting. |

| (6) | Measured based on the weighted average of the borrowing rates for new funding for each month made by the commercial banks that are subject of the COFIX reporting. |

188

Average Balance Sheet and Volume and Rate Analysis Average Balances and Related Interest The following table shows our average balances and interest rates, as well as the net interest spread, net interest margin and average asset liability ratio, for the years ended December 31, 2022, 2023 and 2024.

|                                                |     |        For the Years Ended December 31, |         |     |          |        |     |             |