Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 496

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 496
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 |     |                | 546,253,909 |     |             | 702,361 |     |       | 722,485,380 |

<div align='center'>F- 10 4</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) |

|                                                            |     |  2024 |           |     |             |           |     |                |             |     |             |           |     |       |             |
|                                                            |     | FVTPL |           |     | FVTPL       
 liabilities 
 designated  |           |     | Financial      
 liabilities    
 measured at    
 amortized cost |             |     | Derivatives 
 held for    
 hedging     |           |     | Total |             |
| Liabilities:                                               |     |       |           |     |             |           |     |                |             |     |             |           |     |       |             |
| Deposits                                                   |     |     W |         — |     |             |         — |     |                | 422,781,045 |     |             |         — |     |       | 422,781,045 |
| Financial liabilities at fair value through profit or loss |     |       |   954,899 |     |             |         — |     |                |           — |     |             |         — |     |       |     954,899 |
| Financial liabilities designated at FVTPL                  |     |       |         — |     |             | 8,220,475 |     |                |           — |     |             |         — |     |       |   8,220,475 |
| Derivatives liabilities                                    |     |       | 9,036,461 |     |             |         — |     |                |           — |     |             | 1,022,071 |     |       |  10,058,532 |
| Borrowings                                                 |     |       |         — |     |             |         — |     |                |  49,920,373 |     |             |         — |     |       |  49,920,373 |
| Debt securities issued                                     |     |       |         — |     |