Shinhan Financial Group reported a net profit of 4.52 trillion won for 2024.
Shinhan Financial Group logged a 3.9 percent on-year increase in net profit in the third quarter at 1.24 trillion won ($892.4 million), according to its earnings report on Friday.
The nation's four major financial firms padded their debt provisions amid concerns over project financing defaults.
Shinhan Financial Group Chairman Jin Ok-dong highlighted AI and data science as the group’s next growth engines, urging employees and executives to accelerate the digital transformation within financial services.
Hana Financial Group posted record-high earnings in the second quarter, while increased reserve funds to brace for market uncertainties pared down gains for Shinhan Financial Group and Woori Financial Group.
A Shinhan Financial Group board committee recommended Han Yong-gu as the new Shinhan Bank CEO, the company announced on Tuesday.
A committee at Shinhan Financial Group selected Jin Ok-dong, CEO of Shinhan Bank, to become chairman of the country’s largest financial group by net profit.
Financial groups achieved record profits in 2021 on improved interest margins.
KT and Shinhan Financial Group are exchanging more than 400-billion-won ($340 million) worth of shares to jointly collaborate on artificial intelligence (AI) and the metaverse.
Shinhan Financial Group Chairman Cho Yong-byoung won his appeal of a conviction for corrupt hiring practices at Shinhan Bank.
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