Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 694

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 694
---
       
 amortized cost  |                |   |  49,930,076 |     |     |               — |     |     | —                   |   |     |     |               (23,765,134 | ) |     |     |           26,164,942 |
| Loans at amortized cost                                     |     | Financial       
 assets at       
 amortized cost  |                |   | 389,137,156 |     |     |         768,256 |     |     | (5,094,638          | ) |     |     |                         — |   |     |     |          384,810,774 |

| (*1) | Consisted of the total of separate account and intercompany transactions that are eliminated. |

| (*2) | Policy loans, which used to be recognized as separate assets under IFRS 4‘Insurance Contracts’and Enforcement Rules of the Insurance Business Act., are measured as part of insurance contracts in accordance with IFRS 17. |

F-32 8

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 52. | Adoption of IFRS 17‘Insurance Contracts’ (continued) |

|                                                                                    |     | January 1, 2022 |             |   |     |             |             |   |     |        |             |   |
|:-----------------------------------------------------------------------------------|:----|:----------------|------------:|:--|:----|:------------|------------:|:--|:----|:-------|------------:|:--|
|                                                                                    |     | Assets          |             |   |     | Liabilities |             |   |     | Equity |             |   |
| Application of IFRS 4 on January 1, 2022                                           |     | W               | 648,152,185 |   |     |             | 598,613,763 |   |     |        |  49,538,422 |   |
| Elimination of carrying amount of IFRS 4 items:                                    |     |                 |             |   |     |             |           — |   |     |        |             |   |
| Loans at amortized cost (policy loans)                                             |     |                 |  (5,094,638 | ) |