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Profile: Shinhan Financial Group Co Ltd (SHG)

SHG on New York Consolidated

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26 May 2017
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Shinhan Financial Group Co., Ltd. (SFG), incorporated on October 1, 2001, is a financial holding company. The Company operates through five segments: commercial banking services, which are provided by Shinhan Bank Co., Ltd. (Shinhan Bank); credit card services, which are provided by Shinhan Card Co., Ltd. (Shinhan Card); securities brokerage services, which are provided by Shinhan Investment Corp. (Shinhan Investment); life insurance services, which are provided by Shinhan Life Insurance Co., Ltd. (Shinhan Life Insurance), and other. The Company's other services include leasing and equipment financing, regional banking services, savings banking services, loan collection and credit reporting, collective investment administrative services and financial system development services, as well as engaging in private equity investments through formation of private equity funds on a private placement basis. It also offers asset management services, including brokerage and trading of various securities, related margin lending, deposit and trust services, and other asset management services.

The Company, through Shinhan Bank, offers various deposit products that target different customer segments with features tailored to each segment's financial and other profiles. Its deposit products consist of demand deposits, savings deposits, time deposits and other deposits (certificates of deposit). The Company also offers deposits, which provide the customer with preferential rights to housing subscriptions under the Housing Law and Rules on Housing Supply (the Housing Law), and eligibility for mortgage and home equity loans. These products include Housing subscription time deposits and Housing subscription installment savings deposits. It offers court deposit services for litigants in Korean courts, which involve providing an escrow service for litigants involved in certain types of legal or other proceedings. It serves the needs of its customers through a global network of approximately 160 offices in the United States, Canada, the United Kingdom, Japan, the People's Republic of China, Germany, India, Hong Kong, Vietnam, Cambodia, Kazakhstan, Singapore, Mexico, Uzbekistan, Myanmar, Poland, Indonesia, Philippines and Dubai.

Commercial Banking Services

The Company's commercial banking services consist of retail banking, corporate banking, international banking and other banking. The Company provides retail banking services through Shinhan Bank, and through Jeju Bank, a regional commercial bank. Retail banking services include mortgage and home equity lending, and retail lending, as well as demand, savings and fixed deposit-taking, checking account services, electronic banking and automated teller machines (ATM) services, bill paying services, payroll and check-cashing services, currency exchange and wire fund transfer. It offers various retail loan products, consisting principally of loans to individuals and households. Its retail loans consist of mortgage and home equity loans, and other retail loans. Shinhan Bank operates approximately 30 private banking centers across the nation, including over 20 in Seoul, approximately three in the suburbs of Seoul and over six in cities located in other regions in Korea.

The Company provides corporate banking services, primarily through Shinhan Bank, to small- and medium-sized enterprises, including enterprises known as small office, home office (SOHO), which are small enterprises operated by individuals or households, and to large corporations. It also lends to government-controlled enterprises. Shinhan Bank also engages in treasury and investment activities in international capital markets, including foreign currency-denominated securities trading, foreign exchange trading and services, trade-related financial services, international factoring services and foreign banking operations through its overseas branches and subsidiaries. Other banking businesses carried on by Shinhan Bank include treasury business (including internal asset and liability management and other non-deposit funding activities), trading of, and investment in, debt securities and, to a lesser extent, equity securities for its own accounts, derivative trading activities, as well as managing back-office functions.

Credit Card Services

The Company provides its credit card services through its credit card subsidiary, Shinhan Card, and to a limited extent, Jeju Bank. Shinhan Card offers a range of credit card and other services, consisting of credit card services, which involve providing cardholders with credit over a preset limit to purchase products and services; cash advances, which enable the cardholders to withdraw cash subject to a preset limit from an ATM machine or a bank branch; installment purchases, which provide customers with an option to purchase products and services from select merchants on an installment basis, and card loans, which enable cardholders to receive, over a preset limit, a loan, which is unsecured. Credit card products offered by Shinhan Card include cards that provide additional benefits, such as frequent flyer miles and reward program points that can be redeemed by the customer for services, prices and cash; platinum cards and other preferred membership cards, which have higher credit limits and provide additional services in return for higher annual membership fees; cards with additional features to preferred customers, such as revolving credit cards, travel services and insurance; cards with fraud detection and security systems to prevent the misuse of credit cards and to encourage the use of credit cards over the Internet; corporate and affinity cards that are issued to employees or members of particular companies or organizations, and mobile phone cards allowing customers to conduct wireless credit card transactions through their mobile phones.

Shinhan Card provides installment finance services to customers to facilitate purchases of durable consumer goods, such as new and used cars, appliances, computers and other home electronics products. Shinhan Card provides auto leasing financing to retail customers and corporations.

Securities Brokerage Services

The Company, through Shinhan Investment, provides a range of financial investment services to its customer base, including corporations, institutional investors, governments and individuals. Financial investment services offered by Shinhan Investment range from securities brokerage services, investment advice and financial planning services, and investment banking services, such as underwriting, and mergers and acquisitions (M&A) advisory services. Shinhan Investment also engages in equity- and stock index-linked derivatives sales and brokerage, trading and brokerage services for futures involving interest rates, currency and commodities, as well as foreign exchange margin trading. Shinhan Investment provides services, including retail client services and institutional client services. The retail client services include equity and bond brokerage, investment advisory and financial planning services to retail customers, with a focus on high net worth individuals. Its brokerage services include brokerage of stocks, corporate bonds, futures and options provided to Shinhan Investment's institutional and international customers, and sale of institutional financial products.

Life Insurance Services

The Company provides life insurance products and services primarily through Shinhan Life Insurance. Shinhan Life Insurance provides its services through distribution channels consisting of financial planners, telemarketers, agency marketers and bancassurance specialists.

Others

Through its other subsidiaries, the Company provides asset management, leasing and equipment financing, regional banking, savings banking, loan collection and credit reporting, collective investment administration and financial system development services. Through Shinhan Private Equity Inc. (Shinhan Private Equity) (in addition to Shinhan Investment), the Company is also engaged in private equity investments through formation of private equity funds by soliciting investors on a private placement basis. The Company also provides asset management services through Shinhan BNP Paribas Asset Management Co., Ltd. (Shinhan BNP Paribas Asset Management). It provides leasing and equipment financing services to its corporate customers through Shinhan Capital Co., Ltd. (Shinhan Capital). Shinhan Capital provides customers with leasing, installment financing and new technology financing, equipment leasing and corporate credit financing.

The Company provides regionally focused commercial banking services, primarily in Jeju Island of Korea, through a banking subsidiary, Jeju Bank. Jeju Bank provides retail banking, corporate banking, treasury and trust account management services through a network of approximately 40 branches. Through Shinhan Savings Bank, the Company provides savings banking services. The Company centralizes credit collection and credit reporting operations for its subsidiaries through Shinhan Credit Information Co. Ltd., which also provides similar services to third-party customers. Shinhan Credit Information's services include debt collection, credit inquiries, credit reporting, civil application/petition services and process agent services. It provides integrated collective investment administration services through Shinhan AITAS Co., Ltd., which provides general management service, asset management systems, accounting systems and trading systems to asset management companies and institutional investors. It provides financial system development services through Shinhan Data Systems, which offers system integration, system management, information technology (IT) outsourcing, business process outsourcing and IT consulting services.

The Company competes with Korea Development Bank, the Industrial Bank of Korea, the National Association of Agriculture and Fisheries, Citibank Korea Inc. and Standard Chartered Bank Korea Limited.

Company Address

Shinhan Financial Group Co Ltd

16, Daegyeong Bldg
120, Taepyeongno 2-Ga, Jung-Gu
20, Sejong-daero 9-gil, Jung-gu
SEOUL     04513
P: +822.63603000
F: +822.7771883

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