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July 06, 2015 6:27 AM ET

Banks

Company Overview of SHINHAN BANK

Company Overview

Shinhan Bank, together with its subsidiaries, provides a range of commercial and other banking services to retail and corporate customers in Korea and internationally. It offers retail banking services to individual customers, wealth management customers, and institutions, such as hospitals, airports, and schools. The company also provides corporate banking and treasury services to corporations, including small or medium sized companies and businesses related to investment banking; internal asset and liability management; trading of securities and derivatives; and investment portfolio management and other related activities. In addition, it engages in international bank services, as well as ...

20, Sejong-Daero 9-Gil

Jung-Gu

Seoul,  100-724

South Korea

Founded in 1897

13,489 Employees

Key Executives for SHINHAN BANK

Chief Executive Officer, President and Executive Director
Age: 57
Deputy President, Head of Corporate & Investment Banking Group and Executive Director
Age: 56
Executive Vice President of Institutional Banking Group and Non-Director Executive Officer
Age: 55
Executive Vice President of Retail Business Unit and Non-Director Executive Officer
Age: 54
Executive Vice President of Compliance Department and Non-Director Executive Officer
Age: 55
Compensation as of Fiscal Year 2015.

SHINHAN BANK Key Developments

Shinhan Bank Reports Consolidated Earnings Results for the First Quarter of 2015

Shinhan Bank reported consolidated earnings results for the first quarter of 2015. For the quarter, the company reported revenue of KRW 3,363,037 million against KRW 3,637,099 million a year ago. Operating income was KRW 468,606 million against KRW 533,673 million a year ago. Income before income taxes was KRW 501,053 million against KRW 540,756 million a year ago. Net income attributable to the company was KRW 390,022 million against KRW 425,157 million a year ago. The decrease in net income was because despite the improvement in fee income and securities income leading to 84.8% hike in noninterest income, interest income dropped, an additional credit cost related to corporate restructuring incurred.

Shinhan Bank Set to Open Branch in Manila in the Third Quarter

Shinhan Bank is set to open a branch in Manila in the third quarter after securing approval from the Bangko Sentral ng Pilipinas (BSP). The bank is the second among global financial institutions to enter the Philippine market after Manila last year liberalized rules allowing the entry of foreign lenders. Shinhan Bank said its Manila branch is set to open by September after completion of several procedures, including information technology setup. Despite opening up the industry to more foreign players, the new law still mandates the Monetary Board to take steps in ensuring that at least 60% of the resources or assets of the entire Philippine banking system is held by domestic banks majority-owned by Filipinos.

Shinhan Bank Appoints Directors ; Approves Cash Dividend for the Fiscal Year 2014

Shinhan Bank approved the appointment of Yong Byoung Cho, Sun Tae Hwang, Kook Jae Hwang and Fukuda Hiroshi as directors of the company, at the company's AGM held on March 18, 2015. At the AGM of Bank also approved cash dividend payment of KRW 450 billion or KRW 283.80 per common share for the fiscal year of 2014.

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