Shinhan Bank
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| Shinhan Bank | |
|---|---|
| Image:Shinhanbank logo.gif | |
| Type | Public (NYSE: SHG) |
| Founded | 1897 |
| Headquarters | Seoul, Korea |
| Key people | Shin Sang Hoon, CEO |
| Industry | Finance |
| Products | Checking accounts Savings accounts Insurance Investments Mortgages Consumer finance |
| Revenue | Image:Green Arrow Up Darker.svgUS $5.454 billion (2006) |
| Operating income | Image:Green Arrow Up Darker.svgUS $2.614 billion (2006) |
| Net income | Image:Green Arrow Up Darker.svg$1.832 billion USD (2006) |
| Employees | 14,000(2006) |
| Slogan | The Bank of Pride |
| Website | www.shinhan.com |
| Korean name | ||||||||
|---|---|---|---|---|---|---|---|---|
|
Shinhan Bank (신한은행 in Korean, 新韓銀行 in Chinese, シナンぎんこう in Japanese), is a bank, headquartered in Seoul, Korea. The bank was established in 1982. It is part of the Shinhan Financial Group, along with Jeju Bank. Shinhan Bank merged Chohung Bank on April 1, 2006.
Shinhan Bank started as a small enterprise with a capital stock of KRW 25.0 billion, 279 employees, and three branches on July 7, 1982. Today, it has transformed itself into a large, super-quality bank, boasting total assets of KRW 176.9 trillion, equity capital of KRW 9.7 trillion, 10,741 employees, and 1,026 branches as of 2006. Total deposits and net income amounted to KRW 105.3 trillion and KRW 1.4 trillion, respectively.
To add, the bank has been consistently recognized as “the most convenient bank,” “a one-step ahead bank” and “a reliable bank” by a myriad of sources. Our laurels include winning grand prize at the 2006 Great Workplace Awards Korea, Korea Service Grand Prix, Reliable Company Awards, Global Standard Management System Awards in the social responsibility management category, and the First Brand Awards. We have also been praised as the best bank for reliability in “Korea’s Most Respected Companies”; per-capita productivity; excellent talent management; least customer grievances by the Financial Supervisory Service for four consecutive years; and Internet banking for four quarters in a row.
A pioneer in the Korean financial industry, Shinhan Bank is poised to roll out “a wider and more solid financial network” with a view to providing new-dimensional customer satisfaction, following its integration in April 2006.
[edit] See also
- List of South Korean companies
- List of Banks in South Korea
- List of Korea-related topics
- Economy of South Korea
[edit] History
Image:Shinhan_CF_2.jpg|thumb|right|275px|Shinhan's New Campaign, "Believe the Shinhan's Power"]]
1897. 02 Established the bank (Hanseong Bank)
1918. 12 Opened Tokyo branch (the first overseas branch)
1943. 10 Changed the banks name to CHOHUNG Bank as merging Hanseong Bank and Dongil Bank
1945. 08 Lost 12 branches located in North Korea including Pyeongyang, Hamheung and Haeju due to partition of the Korean Peninsula
1956. 03 Stock, listed first to the Securities Exchange (code : 00010)
1960. 06 Established Labor Union first in the domestic world of finance
1963. 04 Commenced trading foreign currency
1966. 12 Completed new business building (the current headquarter office building)
1982. 06 Commenced Credit Card service
1982. 07 Established SHINHAN Bank (the first president, Kim Se-chang)
1984. 02 Commenced trust service
1984. 02 Lee Yong-man took office as the 2 nd president
1987. 05 Established SHINHAN Research Center 1988. 02 Kim Jae-yun took office as the 3rd president of the bank
1988. 11 Moved to a new business building
(Daegyeong building, 120, Taepyeoingro 2-ga, Jung-gu, Seoul)
1989. 08 Established CHOHUNG Lease Co.,Ltd
1989. 10 Initial public offering
1991.4.19 Established SHINHAN Lease
1989. 11 Stock listed
1989. 12 Designated as the official bank of Daejeon EXPO 93
1990. 03 Designated as the official bank of the 17th World Scout Jamborees
1990. 07 Installed an unmanned ATM at Myeongdong branch office first in the territory
1991. 02 La Eung-chan took office as the 4 th president of SHINHAN Bank
1992. 11 Acquired CHOHUNG Investment Consulting Co.,Ltd
1993. 02 Proclaimed business idea, management philosophy and bank precepts
1994. 03 Gross receipts, passed 10 trillions won
1995. 11 Acquired the certificate of the oldest bank and the oldest corporation ? the Guinness Association of Korea
1996. 06 Gross receipts, passed 20 trillions won
1996. 07 Opened CHOHUNG Centennial Museum
1996. 11 Established CHOHUNG Baeknyeon Foundation
1997. 03 Opened CHOHUNG Finance Museum
1998. 06 Acquired Donghwa Bank by means of P&A
1999. 02 Lee In-co took office as the 7 th president of SHINHAN Bank
1999. 04 Merged Chungbuk Bank
1999. 07 Started Internet Banking Service first in the domestic banks
1999. 09 Merged Gangwon Bank
2000. 10 Established financial holding company preparation committee and the establishment office
2000. 11 Winner of Customer Satisfaction Management and CEO Award
2001. 01 Agreement with Jeju Bank for management consulting
2001. 05 Established SHINHAN-Macquarie Financial Consulting by and between SHINHAN Bank_Australian Macquarie Bank
2001. 06 MOU with BNP Paraba Bank for service alliance to establish Financial Holding Company
2001. 09 Established SHINHAN Financial Group
2002. 08 Changed CI of SHINHAN Bank and SHINHAN Financial Group
2003. 03 Shin Sang-hun, took office as the 9th president of SINHAN Bank
2003. 09 CHOHUNG Bank acquired SHINHAN Financial Group
2003. 09 Listed SHINHAN Group on New York- the 2nd time as domestic financial institute
2004. 06 Purchased a women's professional basketball team
2004. 09 Founded Women's professional basketball team
2004. 09 Prize winner ofThe Best Bank in Koreaselected by Finance Asia magazine
2004. 09 Winner of e Finance award managed by MOFE and Hankyung
2004. 09 Selected as the Lowest Complaints Bank evaluated by FSS for 4 consecutive years
2004. 08 Selected as the Excellent Bank of Work Process, Technology and Capability selected by Asian Banker magazine
2005. 06 Alliance with Social Solitary Bank for Small Scale Business Support Project
2006. 4 Affiliation of SHIHAN BANK and CHOHUNG BANK
[edit] Shinhan Bank's Vision
Shinhan Bank's vision of becoming “The finest bank in Korea -THE Bank of Pride” reflects desire to realize their ideals and become the pride of Korean finance. That is to say, Shinhan aim to present dignity and hope to all parties concerned, providing value and meeting the expectations of a diversity of people including customers, shareholders, employees and society.
Shinhan Bank strives to evolve into a world-class bank that all other companies wish to measure up to, leading the financial market through “All Together” Management, Basic Management, and Creative Management, while becoming known as the bank of pride for Korean finance.
The pride of Korean finance, “THE Bank Shinhan” is now taking powerful steps towards becoming a
leader in Korean finance and beyond.
[edit] Shinhan Bank's Three Innovation
Six Sigma Management innovations
- Innovative working methods
- Innovative thinking methods
- Problem-solving methodology
Shinhan Bank incorporated “Six Sigma” into its entire management system, a first among domestic
banks, in order to establish innovative systems and cultures and double synergy effects from the
integration of former Shinhan Bank and Chohung Bank in April 2006.
Shinhan started building an innovation-oriented culture by waging the “Slim & Simple Work Innovation Campaign” to aid employee understanding and induce participation. Spadework was completed by June 2006, and this campaign will be fully realized by 2008.
In order to actively pursue the full-scale introduction of Six Sigma, Shinhan designated an organization to be in exclusive charge of this task inside the Change Management Group. Other plans for its effective introduction and establishment include a variety of campaigns, education, formulation of slogans, and the publication of educational materials and journals.
Knowledge Management and CoP (Community of Practice) the source for organizational competitiveness
- Acquire and generate knowledge
- Create new values by utilizing knowledge
Shinhan Bank inaugurated a knowledge management team in April 2006. Its goal is to heighten
productivity and ultimately pull up the quality of products and services by continuously creating new knowledge in order to maintain their competitive edge in a rapidly changing financial environment. Shinhan also plan to build EKP (Enterprise Knowledge Portal), an IT infrastructure that will become a basis for knowledge management activities by the end of March 2007.
Core Elements of Shinhan Bank’s Knowledge Management
CoP (Community of Practice)
CoP will eliminate barriers among departments and positions, and share knowledge among
employees, thereby contributing to the development of individual capabilities, as well as the
advancement of communications and the induction of results and accomplishments.
BP (Best Practice) Management
BP Management will design company-wide BP development and advancement systems and
processes so that the bank’s experiences and know-how can be accumulated as intellectual
properties, while bolstering the utilization of BP.
K-Map (Knowledge Map)
The K-Map will enable the staff to easily find desired data and information and utilize them for their operations, classifying and integrating scattered knowledge by function, job, and target customer based on knowledge type.
Knowledge Experts
Knowledge experts are selected from among heads of operations and in-house and outside experts
to control the quality of knowledge and resolve problems. The aim is to share their knowledge,
experiences and know-how.
Suggestion System
Inviting suggestions from employees mainly for management improvement, IT, products, and
operational risks, the goal is to expand sales opportunities and diminish risks by seeking out
innovative ideas and targeting internal risk factors.
Knowledge Management Process
An all-round management process from the generation to the retirement of knowledge and
information, this procedure evaluates, utilizes, and refines knowledge within the EKP (Enterprise Knowledge Portal) based on a defined life cycle, thereby enabling real-time sharing, accumulation, and upgrades of valuable knowledge.
Core Knowledge Management
Most core knowledge and information are created and managed to secure future growth engines
and provide the finest differentiated services.
Blue Ocean Strategy to create new markets and business opportunities
- Concentrate competencies on new business areas
- Develop new growth engines
Korea’s banking industry has been marked by increasingly intensifying competition among mega-size banks and between domestic and foreign-invested players since the market opening in 2005. In order to surmount this acceleration in competition and secure new growth engines, Shinhan Bank began preparing a “blue ocean” strategy from the second half of 2005. Currently, Shinhan are primed to apply this strategy to all of their management activities, redefining their markets and customers and encompassing products, organizations, and processes.
Taking the “blue ocean” strategy as the core innovation strategy for their integrated bank and
establishing it as an all-time value innovation program through companywide implementation, Shinhan creating new markets and growth engines with a focus on customer values.
Processes and Plans Underway Following the introduction and dissemination of the “blue ocean” strategy by June 2006, Shinhan Bank has created a roadmap that will serve as their organizational ethos for 2007. During the introductory stage, Shinhan selected departments to take exclusive charge of planning, research, and expansion of strategy. Shinhan also concentrated on “blue ocean” strategy and communicated with their staff members, using other companies as benchmarks and holding lectures by outside specialists. During the expansion stage, Shinhan prepared a “Strategy Canvas” along with companywide education, with an aim to expand this to all of their operations, including financial products, structures, and processes. Shinhan also redefining existing markets and customers. In addition, Shinhan pushing for strategic tasks by group and encouraging employees to draw up a “Strategy Canvas” when reviewing new businesses. In 2007, Shinhan will establish the “blue ocean” strategy as an all-time value innovation process in the bank. Further, Shinhan plan to extend it to the entire Shinhan Financial Group and share their examples with their group companies as forms of best practice.
[edit] Board of Directors
Composition of the Board of Directors
The BOD (Board of Directors) consists of eight directors, including six outside directors. Over the course of fifteen meetings in 2005 and nine in the first half of 2006, the BOD discussed and approved the integration of former Shinhan Bank and Chohung Bank, matters related to the Integration Committee, management plans and risk-related matters, and matters on the reorganization of structures and systems. In regards to professional operations, the BOD includes the Auditor Recommendation Committee, Outside Director Recommendation Committee, Audit Committee, and Risk Management Committee. The board is also equipped with systems that enable fair deliberation and judgment on all management strategic decision matters. Given the increasingly high responsibility for risks, the BOD recommends the bank hold appropriate capital for all potential risks and maintain excellent risk management techniques.
[edit] Social Contribution
With the integration of former Shinhan Bank’s dynamism and former Chohung Bank’s
tradition, the new Shinhan Bank is carrying out a broad array of social responsibility
management programs. By doing so, Shinhan Bank aim to: pursue fundamental, integral, and
principled management; create customer satisfaction value by augmenting customer
convenience and wealth; and grow into a model service company in Korea by fulfilling their responsibilities and roles as a corporate citizen.
Shinhan Bank Voluntary Service Group
Shinhan launched the Shinhan Bank Voluntary Service Group in July 2004, a first in the banking industry, to continuously and systematically roll out social service activities. Led by the president and encompassing all employees, the group provides a venue through which Shinhan can voluntarily engage in social service activities by division and employee.
Preservation of the Environment
Shinhan Bank has continuously staged environmental preservation campaigns with a view to fulfilling its corporate social responsibilities. They include: attaching labels to trees in 18 national parks across the country to instill awareness in visitors of the importance of protecting nature, and holding an annual nationwide environmental photography contest to publicize the preciousness of the natural environment and the importance of environmental preservation. Sponsored by the Ministry of the
Environment, this contest addresses the beauty of natural scenery, harmony between people and nature, and damage to the natural environment.
In addition, Shinhan Bank actively taking part in campaigns to protect natural monuments (animals and plants) while developing environmental products (such as the Green Compound Interest Trust and bankbooks to save Nakdong River) and giving donations through matching grant programs.
Support of Scholarship and Arts and Culture Activities
Shinhan Bank has established and operated a scholarship foundation and the Museum of Finance, a first among commercial banks. Established to contribute to the cultivation of talent, the promotion of learning, and progress in the arts and culture, the Shinhan Bank Hope Foundation awards scholarships to 130 juvenile family heads and differently-challenged students on an annual basis. The foundation also provides scholarships to the children of Korean residents in Kajakhstan, Uzbekistan, and China every year.
Other Social Welfare Activities
Shinhan Bank runs public interest-linked programs, such as education on sharing and support for the low-income and under-privileged by enhancing partnerships with NPO’s (Non-profit Organizations), including the Beautiful Foundation and the Social Solidarity Bank. Shinhan Bank's unsparing interest in and support for social welfare is evidenced by such activities as economics classes for children, special invitation programs for children living on islands and in remote areas, travel abroad programs for teachers, promotion of sports, and campaigns for the one-on-one protection of cultural properties.
Shinhan Bank have also contributed to the spread of corporate social responsibility by developing and marketing public interest products. These include social responsibility management loans, small business startup loans, the Beautiful Fund, term deposits to support philanthropists, plus the “Love Pledge”deposits and installment savings plan.
[edit] Treasury & Global Banking Group
Treasury
Shinhan Bank aimed to position itself as the
finest bank through "successful integration and
qualitative growth" during 2006. With this firm
goal in mind, we were committed to the
successful provision and management of stable
and efficient liquidity by beefing up our market
dominance as a leading bank and executing
upgraded ALM (Asset and Liability Management)
strategies with best practices.
Treasury Department particularly supported the
accomplishment of stable liquidity and
profitability through the upgraded integration of
internal interest rate systems and efficient ALM
operations.
Currently, we are pursuing an ALM system
upgrade. The purpose of this project is to
manage risks and earnings simultaneously, by
reinforcing the ALM system's estimation and
simulation functions and bringing out prompt
and flexible results by the end of June 2007. We
further expect to materialize global-standard
ALM in a couple of years, by developing
strategies and strengthening feedbacks that will
enable the bank to immediately accommodate
changes in its management environment.
As for foreign currency operations, we floated
USD 300.0 million in fixed-rate foreign currencydenominated
subordinated bonds, JPY 35.0
billion in syndicated loans, and USD 350.0
million in foreign-currency hybrid bonds in 2006,
offering the lowest interest rates in Korea
backed by trust from overseas investors.
Noteworthy was that these issuances were
attributed to the expansion of new investor
bases and the diversification of borrowings
currencies.
In 2007, we plan to focus on the stable and
efficient management of liquidity. To this end,
we will diversify our financing sources, reinforce
our financial market leadership in Korea,
augment our operating profits from investment
bonds, and improve our earnings structure
through the advanced ALM system.
International Trade Business
Following the integration in April 2006 and
subsequent reorganizations, Shinhan Bank
created the Corporate Trade Marketing Team.
The purpose of the team was to strengthen our
profile as a specialist in import and export
businesses by actively marketing to differentiated
targets and strategically subdividing corporate
trade markets to seek out target customers in
each market.
Together, we significantly expanded our sales
channels and customer bases through strategic
alliances with leading enterprises in traderelated
sectors.
Based on these, we upgraded our brand value
as an expert in trade, recording USD 94.7 billion
in exports/imports, USD 3.0 billion in currency
exchange, and USD 26.4 billion in invisible trade
remittance. In 2007, we will "build a stepping stone to rise as
a leading, world-class bank in the trade
business market." With this in mind, we plan to
pursue three core strategies.
First, we will continue to build foundations and
infrastructure for growth potential and
profitability to match our leadership in the trade
business.
Second, we will strengthen our footing for the
trade business to consolidate mid and longterm
growth foundations, while continuously
heightening our trade business brand value by
spurring the development of new, differentiated
products and services.
Last, we will map out new marketing strategies
based on customer values and needs. These will
be followed by the execution of detailed tasks,
which will include the attraction of core
customers to use Shinhan Bank as their main
bank and the expansion of our customer
networks.
By doing so, we will prepare a pivotal framework
to stretch ourselves into a domestic leader and
further into a true world-class bank that can
compete globally.
Global Business
Shinhank Bank's global banking business is largely focused on the expansion of its global network, operational support for overseas branches and offices, and FI (Financial Instition) marketing. Lately, the bank has been actively advancing overseas to seek out "Blue Oceans" with new markets and customers, while avoiding the heated competition in the limited domestic market. In the long term, we aim to establish a regional presence. Our key agendas for 2007 are to consolidate our capabilities so as to secure a top position in terms of overseas margins and carry forward global businesses from diversified aspects (Jump for Global Biz). Our core strategies are to (1) expand our overseas network through diverse vehicles such as M&A's, equity investments, and the establishment of local subsidiaries and branches, (2) diversify our earnings structure in the overseas business sector, (3) strengthen local operations, (4) nurture global talents, and (5) revamp FI marketing. Our overseas branches and offices can be divided into five overall types: (1) those in international financial centers, including New York, London, Tokyo, Hong Kong, Singapore, and Germany, (2) those in growing markets including Shanghai, Tianjin, Chingdao, Vietnam, and Mumbai where many Korean companies have advanced, (3) those targeting overseas Koreans living in Osaka, Fukuoka, and other places, (4) those seeking localization based on retail banking such as subsidiaries in the Americas and Vietnam, and (5) Hong Kong subsidiary focused on IB businesses. In 2007, we plan to bolster overseas operations primarily leveraging differentiated marketing support by region. We will also be dedicated to extending earnings bases and securing business competencies by utilizing new networks. In addition, we will strengthen our FI functions. From this year, we will continue to expand earnings bases by promoting the trade finance business and targeting emerging markets, while bolstering relationships with correspondent banks with a focus on marketing activities. As such, we will solidify our leadership in global banking by pushing for overseas expansion as a new future growth engine.
[edit] Retail Banking Group
The retail banking market faced difficulties in
2006, triggered by intensifying cut-throat
competition among leading banks to strengthen
market dominance, tightening government
regulations on real estate policies, and
slowdowns in domestic demand and business
conditions. In this climate, Shinhan Bank had to
overcome a number of internal agendas,
including legal integration of the former
Shinhan Bank and Chohung Bank, plus
integration of IT systems into a new banking
system.
The Retail Banking Group concentrated on the
following imperatives in order to fortify its
preemptive, internal and external risk
management and acquire market leadership:
1. Execute new customer relationship management
structures following the redefinition of customer
values
2. Prevent customer attrition and bolster crossselling
3. Improve customer deposit systems and
increase quality loans to facilitate long-term
stable growth
4. Heighten product competitiveness and
upgrade employee capabilities
5. Beef up customer bases for long-term
sustainable growth
6. Stabilize integrated networks early and
strengthen risk management
Specifically, we obtained satisfactory results in
asset growth and increased number of
customers through active pursuit of growth
strategies, focusing on the expansion of
customer bases and strategic products. To note,
during the first half of 2006, we strove to secure
profitability, centering on the extension of
platform customers, mainly by use of a
systematic roadmap and streamlining to
prevent customer attrition following integration.
From the second half of the year, we also
enacted active asset growth strategies.
Observing major accomplishments by sector,
we endeavored to magnify the numbers of
transaction customers by 1 million and active
customers by 0.2 million to expand our
customer base since the first half. As a result,
they climbed to about 1.2 million and 239,378,
respectively. This was an increase of 120% and
119% from the preceding year.
We also implemented customer values and
needs-based systems for the CRP (Customer
Rediscovery Program) strategy. In addition, we
sought out financially healthy prospective
customers, built long-term growth foundations
through suggested values, and pushed for
drastic upgrades of our support system (MIDAS)
to analyze target customers and strengthen
active solution selling.
As for performance, despite intensifying
competition to expand quality assets among
banks, household loans jumped 17.9%, or KRW
6.8 trillion, year-on-year, backed by mortgage
loans and group loans.
Credit loans advanced 9.85%, led by a 26% rise
in quality credit loans including Elite Loans. Elite
Loans in particular ballooned by 36%, in spite of
competition among banks to secure financially
healthy customers.
Meanwhile, we maintained sound assets with
retail banking delinquencies amounting to KRW
72.4 billion and the delinquency ratio standing at
0.12%. This was mainly attributable to our early,
exhaustive management of loan delinquencies
and reinforced risk management.
With regard to funding, we concentrated on
improving our financing portfolios through the
construction of profitable deposit bases and the
enhancement of synergy businesses. We
specifically aimed for a rise in low-cost deposits
with a focus on earnings by increasing the
number of actual customers, and an
improvement in deposit maturity structures. We
also worked to raise the percentage of individual
household-type deposits to total deposits and
installment-type savings (funds).
As a result, total deposits grew by KRW 10.3
trillion, and low-cost deposits by KRW 1.3
trillion, over the year. In addition, reflecting our
efforts to widen household-type deposits among
deferred/marketable deposits, household-type
deposits expanded by 8.1% year-on-year, while
sales of beneficiary certificates grew by KRW 4.7
trillion, thanks to the activation of synergy
businesses.
In 2007, competition in market initiatives will
likely be further heated. However, we intend to
attain the “Triple Crown” in terms of asset
growth, customer base expansion, and
profitability growth. To this end, we will
concentrate our energies on ranking the highest
growth in strategic products, extending active
customers, and reinforcing cross-selling.
[edit] Private Banking Group
Shinhan Bank became the first domestic bank to introduce PB (Private Baking) services for its member customers with transactions of more than KRW 1.0 billion (USD 1.0 million) in 2002. After repeating noteworthy growth in PB since then, we inaugurated an independent PB group in April 1, 2006. Shinhan PB Group aims for high-quality, upscale services beyond simple asset management. To this end, we offer a plethora of services including comprehensive asset management, tax/legal advisories, real estate consulting and management, and optimal portfolio management. We also provide a variety of investment information and data. In 2006, we focused on solidifying our PB infrastructure through expanded channels, thereby attaining net new asset growth of more than KRW 1.0 trillion, and preparing a foothold for qualitative growth. First, we secured a nationwide network, completing a 12 channel system across the country by adding five more PB centers. Second, as part of our asset growth strategies, we converted into new sales-centered operations to secure growth engines for the independent PB business group. Formerly, assets had been transferred from the Retail Banking Group. This led a rise in net new assets by more than KRW 1.0 trillion. Third, we provided a framework for qualitative growth, pursuing deposit-oriented customer asset management with a focus on investment products, and improving the structure of low-margin products. As a consequence, total assets continued to increase, reaching KRW 7.8 trillion at the end of 2006, from KRW 4.8 trillion in 2005 and KRW 3.3 trillion in 2004. Net increase in new assets amounted to approximately KRW 1.0 trillion, from KRW 0.4 trillion in 2004 and KRW 0.5 trillion in 2005. Operating income jumped to KRW 59.3 billion, from KRW 16.9 billion in 2004 and KRW 32.8 trillion in 2005. In 2007, the PB Group plans to induce new assets of KRW 1.0 trillion, and record total assets of KRW 10.0 trillion and double operating margins. To do so, we will provide more original and unique strategies and services. To begin, we will expand new channels to operate differentiated channels, and set up an organization dedicated to attracting new high-end customers with transactions exceeding KRW 5.0 billion. In addition, we will firmly secure our domestic market leadership, winning customer trust and selection through various activities such as the global asset management service, customized one-on-one customer asset management analysis, the Biz-care service and tax services for business takeovers and investment expositions. Together, we will develop and operate wealth management support systems to step up our internal capabilities, expand the pool of professional human resources for asset management, and strengthen customer trust by nurturing the expertise and know-how of PB team leaders.
[edit] Corporate Banking Group
The corporate banking market in Korea witnessed a focus shift to SME (Small and Medium-size Enterprise) loans, due to sluggish demand for loans by large companies. It was also influenced by the government’s policy of controlling household loans, centering on mortgage loans. Meanwhile, the entire market volume surged by 22.7%year-on-year to reach about KRW 392.4 trillion at the end of 2006, in light of a favorable turn in business conditions. This represented a substantial rise of KRW 73.0 trillion (including KRW 37.0 trillion in a market for companies whose financial statements are not examined by independent auditors, and KRW 26.0 trillion in a market for companies whose financial statements are audited by certified public accountants). However, competition among banks became fiercer than ever amidst worries over the worsening payability of companies, to the extent that some began “poaching” quality customers from other banks by offering attractive interest rates and utilizing a variety of marketing activities targeting the limited number of financially healthy companies became standard operating practice. Under such unfavorable market conditions, the Corporate Banking Group concentrated on asset growth and securing stable revenue drivers in 2006. We also endeavored to improve earnings structures and create new markets through the differentiation of innovative products. Further, we were dedicated to the development of new growth engines, ensuring synergies from early integration by heightening marketing competencies and the development of competitive edges outside of pricing. Accordingly, we retained our largest market share for companies with satisfactory asset growth and those whose financial statements are examined by independent auditors. We were also able to maximize synergies from integration via processes and IT integration and prepare a basis for long-term transactions for future growth. As a result, sales of the Corporate Banking Group (total loans + usable total deposits) including SME’s and large corporations amounted to KRW 75.52 trillion. Total loans grew 19.5% over the year to reach KRW 45.8 trillion (SME loans: KRW 31.99 trillion, large corporate loans: KRW 13.81 trillion), recording an 11.5% market share. This was led by upturns in SME loans, while large corporate loans were comparatively stagnant. Demand for loans by large companies decreased, due to the supply of fund through alternative financing such as abundant internal funds and the issuance of limited offerings for convertible bonds. Demand for SME loans rose, principally resulting from (1) diminishing uncertainties behind the improvement of business conditions, (2) more relaxed loan policies by banks given their competition in market share and (3) expanding demand for operating funds mainly by quality SMEs. In 2007, the economy is forecasted to slow down further with its growth rate falling to 4%. Prior to the enforcement of the capital market integration law and the revised Basel II, the market will likely be affected by a broadened variety of variables. They include expanding uncertainties over internal and external conditions, given the upcoming presidential election, possibility of an economic hard landing, rough going in the Korea-US FTA negotiations, a sluggish construction market due to real estate regulations, and the possibility of a contraction in consumer sentiment following a rise in tax burdens. All these should intensify competition, boiling down to a battle for industry leadership with major players and advances into overseas markets. Accordingly, we expect declines in margins and profitability due to intensifying market competition. Based on our 2006results, however, we plan to pursue four key strategies that are designed to successfully attain our strategic goal: “perfect a representative brand in corporate banking by building long-term growth foundations and retaining customers.” First, we will secure market leadership through the CRP (Customer Rediscovery Program). On this note, we will push for large companies and cooperative business associates marketing by forming customer packages, develop products to support cooperation companies and target companies, and strengthen marketing for electronic settlement products targeting suppliers. Second, we will construct long-term growth foundations to create earnings sources by increasing the number of customers, activating operations led by branch heads, and inducing long-term transactions utilizing cash management services. Third, we will proactively establish future earnings sources. To this end, we will develop project plant exports for major overseas oil companies, pursue strategic cooperation (with such companies as the Korea Export Insurance Corporation, LG Card and government-invested research institutes), and seek out new “blue ocean” markets through comprehensive support for new industrial complexes. Fourth, we will streamline internal processes from Six Sigma’s innovative perspective, by running RM (Relationship Manager) education/training teams to strengthen the capabilities of RM and redesigning RM internal processes at branches. We will develop more customer-centered products and services via customer retention, on the back of qualitative and quantitative competitive advantages through synergies generated from integrating large corporate banking and SME banking sectors, and accumulated know-how in corporate banking operations. As such, we aim to solidify our market leadership in corporate banking all the more.
[edit] The SOHO (Small-Office-Home-Office) Group
The SOHO (Small-Office-Home-Office) Group is tasked with providing differentiated values to quality small business customers (including hospitals, manufacturers, and real estate leasers). We aim to deliver the finest products and services by understanding the needs and values of each customer segment. Equipped with compatible professionals and experts, the group also offers all kinds of operational tools, education, and support to meet this objective. The group’s key strategies for 2006 were aimed at securing stable footing, augmenting quality assets, strengthening asset soundness, and expanding business foundations. By carrying forward these strategies, the group recorded total assets of KRW 13.6 trillion at the end of 2006. This was a growth of 16%, or KRW 1.9 trillion, from its inception in March 2006. Delinquency ratios dropped to 0.17%, down 0.28% from 0.45%, improving asset quality. The number of SOHO customers also increased by 4.8%, or 3,266, to 70,705. Meanwhile, we secured a nationwide channel network to be in exclusive charge of SOHO’s (a total of 867 channels including 102 SBM’s (Senior Business Manager) and 361 (J)BM’s (Junior Business Manager). We also newly opened a SOHO financial center in the Hub & Spoke concept, to operate effective joint sales and marketing and prepare a framework for the improvement of actual sales skills. In addition, we were dedicated to developing and offering new products and CRM systems, exclusively targeting SOHO’s. In 2007, we will seek balanced growth in assets and earnings while building foundations for the growth of SOHO’s, with the aim of becoming a top player in the financial industry’s SOHO market. Specifically, the group will be committed to attaining growth in quality assets. This will be led by prime customer target marketing, the SOHO VIP customer system, support of differentiated products by customer, and the pursuit of specialized marketing by region. At the same time, we will pull up our overall profitability, improving earnings structures via the calculation of appropriate interest rates and bolstering cross-selling. In addition, we plan to maintain asset soundness by way of preemptive risk management. We will also beef up the core competencies of our employees for SOHO operations, through systematic education/training and the improvement of on-the-job sales skills. Additionally, we will expand more systematic SOHO business foundations by improving the CSS (SOHO-Credit Scoring System) and the SOHO CRM (Customer Relationship Management) system, so as to deliver the ultimate in customer satisfaction. In 2007, we believe the loan market in the financial industry will be contracted due to government restrictions on loans. Keen competition will arise due to attempts to break this market shrinkage problem by preoccupying the SOHO market. However, we are primed to take the lead and attain dominance in the quality SOHO market with advanced system development and systematic risk management, thereby further solidifying our position as the top player in the SOHO sector
[edit] Investment Banking Group
Shinhan Bank is a one-stop financial solution provider and a partner in corporate expansion and growth. We specialize in the investment banking sector, including real estate financing, overseas real estate PF (Project Financing), large development project financing, infrastructure financing, structured financing, equity investments/venture investments, M&A consulting, securitization, derivatives, including securities and derivative products and foreign exchange trading. We opened the Hong Kong IB center in October 2006 to arrange financing and offer consulting to Korean companies that have expanded overseas while pursuing IB businesses, targeting China and Southeast Asian countries on a full-scale. Likewise, we plan to exploit emerging markets in 2007, through strategic alliances with global IB leaders, and fortify global businesses including overseas development projects. As for the IB Group’s performance (IB and Derivatives), we recorded satisfactory results, realizing qualitative as well as quantitative growth, while diversifying earnings sources in 2006. Preprovisioning income, in particular, displayed a sharp upturn to KRW 447.9 billion from KRW 387.2 billion in 2005. In 2007, the group aims to secure IB leadership through the construction of an advanced IB platform. To this end, we will establish Koreanstyle IB business models by confronting changes in the IB markets at home and abroad with initiatives, while carrying forward strategic projects on a full scale, such as overseas PF and fund businesses. Observing conditions by major sector, we are creating a one-stop financial service system for all domestic PF process and real estate development projects, from the initial stages to the realization of earnings in the PF sector. We are also expanding financial support for large-scale development projects into which overseas PF and domestic foreign capital are injected. In addition, we are poised to play a pioneering role in Korea’s SOC market with multifarious structured financing, developed through organic business cooperations with SMFA (Shinhan Macquarie Financial Advisory) and Macquarie Shinhan Infrastructure Asset Management, which are joint ventures established with Macquarie Bank Limited, an Australian based investment bank renowned globally in the SOC (Social Overhead Capital) and real estate investment areas. In the investment banking area, we aim for the ultimate in customer satisfaction through a broad array of IB operations that will satisfy the financial needs of customers, including structured finance, equity and venture investments as a strategic and financial investor, M&A consulting, and corporate restructuring advisory. In 2007, we aim to grow in new territories, ranging from NPL (Non-Performing Loan) investments in turn-around companies to M&A financial advisory, overseas NPL investments, and the activation of fund businesses. Other plans include participation in SOC projectsrelated securitization and overseas projects, active focus on CMBS (Commercial Mortgage Backed Securities), and expansion of the won and foreign-currency syndicated loans. In the financial engineering sector, we will retain our top position in the won-dollar trading volume (based on two domestic trade brokerage houses); reinforce our dominance in currency options, IRS, and CRS markets; and expand the issuance of structured bonds backed by accumulated structuring capabilities. Particularly in the corporate dealing segment, we will put together the largest domestic team so as to contribute to earnings generation and risk hedging by customers via professional consulting and a variety of products that meet the needs of customers. Ultimately, the IB Group will be devoted to leading global IB businesses with an increasing focus on customers and professionalism. We will lead the market through strengthened marketing strategies, which will become a future growth engine for the bank, and building international IB brand power.
[edit] Institutional Banking Group
The Institutional Banking Group provides financial services mainly to government organizations (including courts, public prosecutor’s offices, and military institutions), local governments, public organizations (such as universities, hospitals, and educational institutions), casinos and airports, plus their employees and business partners, and retail customers who deal with organizations. Leveraging our unmatched experience for the past 49 years from 1958, we are reinforcing our position as the top-notch specialist in court businesses. We have also secured the largest airport network providing money exchange and other financial services at four major domestic airports (Incheon, Gimpo, Gimhae, and Jeju). Meanwhile, we have secured university and hospital networks by placing our branches and outlets at key universities and general hospitals across the nation. In 2006, we further widened our reach into the local government market, advancing into military-related organizations, and administering a depository in of Incheon City and the National Pension service. Further, we are providing a variety of financial services to institutions and their employees through a total of 150 channels (71 branches and 79 offices and outlets, as of January 2007). The group’s core competitiveness is rooted in its multitude of highly loyal, quality institutional customers, including courts, colleges, municipal and provincial depositories, and airports. This is due to the high entry barriers established through accumulated know-how in the institutional banking market, and the deep trust that stems from having a long-term customer base. We also have a strong source for future quality customers among the employees of major institutions as our customers and offices in major colleges. Secondly, we boast a solid earnings structure, centering on money exchange and low-cost deposits. We have a large number of customers with low-cost deposit accounts, such as universities and hospitals, in addition to court deposits. To note, currency exchange outlets at domestic airports account for about half of the bank’s total gains on currency exchange. As a result, the Institutional Banking Group’s pre-tax income amounted to KRW 263.0 billion at the end of 2006, exceeding its original goal by 118.7%. The group also surpassed its management goals in all index descriptions, including 123.6% in its BSC (Balanced Scorecard). Other noteworthy accomplishments made as the bank’s core business group include the creation of a depository in Incheon City and special accounts for Wonju and Cheonan cities, thereby securing quality assets of about KRW 1.5 trillion on an annual basis. Our strategic goal for 2007 is to strengthen the profile of “THE Bank, Shinhan” in the institutional banking market. Under this goal, the group will remain a core contributor to securing foundations for the bank’s sustainable growth and creation of new growth engines. On this note, we formulated four strategic directions: (1) fortify dominant power in the market, (2) secure dynamic forces for growth by seeking out new customers, (3) expand stable earnings bases, and (4) step up operational capabilities and improve processes. In order to fortify our market dominance, we will retain and broaden our market share for courts, schools, hospitals, and airports, while pursuing solid lock-in strategies by completely upgrading our existing systems. With regard to securing dynamic forces for growth by seeking out new customers, we will actively create depositories for cities and provinces whose contracts are scheduled to expire during the year. We will also activate transactions in new markets that we attracted in 2006 such as the Incheon City and the Military Mutual Aid Association. In addition, we will continue to expand foundations for relevant organizations and cooperatives that are dealing with special organizations, and strengthen marketing efforts toward college students in order to secure future customers. With a view to expanding stable earnings bases, we will continue increasing low-cost deposits that are our major earnings sources and strengthening money change businesses. At the same time, we will actively participate in organizations-related, revenue generating businesses in linkage with the Institutional Marketing Department that has been incorporated into the group in 2007. In addition, we will boost IB synergy operations through linked businesses with Shinhan Group companies. The banking industry’s asset growth will likely slow down, following the government’s recent strengthening of regulations on mortgage loans. Net interest margins should also back off due to continuing price competition. There are also controversies over real estate bubbles and worries over an increase in potential NPL’s, following estimated economic downturns. While the business environment surrounding the banking industry is being aggravated, competition in the institutional banking market, which has quality assets including financially strong institutional customers and low-cost deposits, will likely intensify more than ever. As to market penetration efforts by other banks, we will counter with our know-how, relevant IT infrastructure, and high-caliber human resources boasting rich experiences in institutional customers-related operations. We will also proactively enter public organizations including local governments. Forging ahead, the group will be ultimately committed to fortifying the bank’s position in the institutional banking market.
[edit] Trust Group
Shinhan Bank secured a leading position in the trust sector as well, ranking number one among domestic banks in terms of trust sales volume, following integration on April 1, 2006. In 2006, the Trust Group concentrated on continuously strengthening marketing activities in order to increase AuM (Assets under Management) in pension trusts, special money trusts, and retirement trusts amid an unfavorable financial environment. As a result, AuM in money trusts increased by approximately KRW 2.3 trillion over the year. We also recorded the banking industry’s largest gain in asset trusts. This resulted from our steady efforts to vitalize new business areas including real estate trusts and money receivables trust. Particularly, we established a retirement annuities customer support center to seek first mover’s advantages and secure a leading position in the pension annuities market. We also placed retirement annuities consultants at our call centers. As a consequence of such active marketing efforts to meet the needs of customers, we garnered the largest market share among commercial banks as of December 2006. Another objective for 2007 is to expand earnings bases in the trust sector through the reinforcement of products/services competitiveness and marketing. In the retirement annuities field, we will beef up growth foundations further to solidify our market leadership. On this note, we will break down customer segments to roll out differentiated marketing and strengthen consulting to provide better customer services. At the same time, we plan to improve competitiveness in our retirement annuities IT system, so as to consolidate education and the provision of information for pension holders. In the money trusts sector, we will diversify investment assets and enhance joint marketing with relevant departments to increase volume while improving our performance by seeking out high-end assets and reorganizing portfolios. We will also expand trusts in overseas investment funds and strengthen joint marketing with sales and management organizations within the group to expand market dominance and increase earnings. In addition, we will set up an optimal IT system, additionally developing management support systems to provide qualitatively and quantitatively advanced services. Together, we will continue expanding trust business foundations by broadening operations for asset trusts and supplementary businesses and steadily exploiting new business areas including wealth management trusts.
[edit] IT Group
Following integration between former Shinhan Bank and Chohung Bank, Shinhan Bank successfully integrated the two banks’ IT systems in October 2006 to launch full-scale synergy management. We launched the IT integration from November 2004 and wrapped up the project in about 23 months. Accordingly, we now boast an infrastructure that enables us to offer the finest financial services, based on our widened branch network and sharply upgraded IT systems. This unprecedented large-scale integration of IT systems between commercial banks, with accompanying total upgrades, was a so-called “big bang-style” system development. Many banks have pushed ahead with the development of next-generation IT systems for the last few years. Still, our IT integration project should outdo any other examples in terms of volume, range, and method. We united the systems of two different megasize banks into a single system, while sharply upgrading their functions and performances. At the same time, we developed a comprehensive system to cover all areas of banking operations, ranging from account operations including deposits, loans, and trade to as many as 68 types of information and data-related operations. Together, we markedly increased the processing speed of banking operations, capable of over 2,000 transactions per second. Its flexible configuration also enables the bank to promptly tackle the diversifying needs of customers and sudden changes in the financial environment. Based on this, our core IT strategies for 2007 are “creation of new, IT-led business models,” “optimization of current business models,” “smart IT investments,” and “creative innovation in support of IT culture.” We will also strive to create business values by securing world-class IT capabilities. Above all, the IT Group will elevate its profile from information provider to “Value Creator” or “New Market Developer” to accommodate the financial needs and demands of consumers. By dong so, we will demonstrate our core competencies, leading the bank’s management strategies with the initiative to become the world-class IT system and business leader by 2010.
[edit] Risk Management Group
Shinhan Bank manages risk to ensure stable
operations and maximize shareholder value.
Key targets are credit, market, ALM, and
operational risks. Risk management and control
begins with the BOD (Board of Directors), who
set such basic guidelines as total risk limits that
the bank can bear. The Risk Management
Committee, which is supervised by the BOD,
determines asset allocation and risk limits by
business group and assists management in
formulating basic operational guidelines for all
banking operations.
According to such basic policies and guidelines,
the ALM Committee and the Credit Policy
Committee, whose members include both highlevel
managers and group heads, oversee
credit, market, and liquidity risks. The Risk
Management Department which is independent
of the bank’s other business units identifies,
evaluates, and controls all risks, while
supporting the Risk Management Committee.
Credit Risk Management
Credit risk is classified into “expected loss” and
“unexpected loss” for measurement and
management purposes. Expected loss is
calculated on the basis of bankruptcy and
recovery ratios by credit rating and in light of
past experience with corporate loans. As for
retail loans, expected loss is calculated on the
basis of bankruptcy and recovery ratios in the
past by loan pool. The amount of the bank’s loan
loss provision is derived from these anticipated
losses. Shinhan Bank earmarks loan loss
provisions based on its conservative policy,
adopting the higher guidelines between the FSS
guidelines and its independently calculated ones.
Unexpected loss refers to when loan-related
losses exceed loan loss reserves, such as
during the financial crisis in 1997. Unexpected
loss is measured and managed based on the
maximum potential amount of loss going
forward. To measure unexpected loss, Shinhan
Bank uses VaR, based on historical simulations.
The bank is currently developing a risk
measurement system using the Monte Carlo
simulation methods, scheduled for completion
by the end of June 2007. It also plans to further
elaborate its credit risk limit management
system, so as to more systematically manage
risks.
Specifically in preparation for the operation of
the New Basel Capital Accord, from the end of
2007, we organized an independent task force
team in February 2004 and completed gap
analysis and fundamental design work in
February 2005. The second stage of preparations
from March 2005 till February 2006 included the
construction of diverse calculation, classification,
and verification systems, including LGD and EAD
calculation systems. Meanwhile, a new loan
system was also put into operation from
February 2006, reflecting new Basel II requirements
in overall loan processes from the calculation of
interest rates and collateral management to
limit and portfolio management.
Market Risk Management
Market risk refers to risks generated by
fluctuations in market prices, such as interest
rates, share prices, exchange rates, and product
prices.
Market risk management basically aims to
manage the maximum amount of possible loss
to maintain the amount at risk within certain
levels. To this end, Shinhan Bank allocates and
operates VaR (value-at-risk limits), investment
limits, position limits, transaction limits, loss
limits, and stop-loss selling limits from
portfolios to individual desks and dealers.
Monitoring adherence to these limits is the
responsibility of Risk Management Department,
and limits are established or adjusted through
the ALM committee when necessary. In addition, new products (or transactions) at
each business group are evaluated for related
risks by the Risk Management Departments
through objective analysis and examination. To measure market risk, Shinhan Bank uses
VaR, which is a statistical system for calculating
maximum potential losses that could occur due
to market fluctuation. The bank calculates
market risk within a 99% confidence level,
applying the Monte Carlo simulation methods. In
addition, the bank conducts a stress test to
complement risk measurement and to manage
losses that can result from rapid changes in the
economic environment. The bank also uses
Duration, BPV (Basis Point Value), Delta,
Gamma, Vega, and other systems for the
purpose of sensitivity limit management
according to the characteristics of products.
The bank’s mark risk management system
performs the measurement of daily risks and
the management of limits on a regular basis,
using transaction data on trading stocks, bonds
and derivatives, that are market risk
measurement target assets.
Interest Rate Risk Management
Interest rate risk refers to the possibility of
losses (declines in net asset values or net
interest income) generated by unfavorable
movement of interest risk on the bank’s
financial conditions.
Shinhan Bank’s interest rate risk management
is designed to measure, monitor, and control
risk through the ALM system.
In particular, we measure and manage the
maximum amount of expected losses in net
interest revenues through the interest rate gap
and the NII (Net Interest Income) simulations. The maximum amount of possible losses in net
asset values are measured and managed
through diverse methods including Duration
Gap and Value at Risk Analyses.
Interest rate gap limits and interest rate VaR
limits are established by the interest rate Risk
Management Departments, and their management
conditions are regularly reported to the ALM
Committee. In addition, the bank conducts a
quarterly stress test to measure and manage
losses that can result from rapid changes in the
economic environment for the purpose of
portfolio management.
Liquidity Risk Management
Liquidity risk refers to the potential inability to
fulfill contractual payment obligations on time,
or being forced to raise capital at higher-thanmarket
prices, or maintaining operational funds
at lower-than-market rates. Shinhan Bank
observes liquidity-related guidelines (including
liquidity ratios) set by relevant supervisory
organizations, and also establishes contingency
plans against an unexpected shortage of
available cash that could occur with sudden
changes in capital markets or monetary
policies.
Shinhan Bank also manages the maturities of
both financing and operating funds at the same
time, so as to grasp daily and monthly maturities
of all funds and seek countermeasures when
necessary. In addition, we diversify the maturities
of financing products to mitigate the possibility of
liquidity risk generation while striving to secure
stable financing bases. Meanwhile, liquidity ratios and gaps and other
measurement indexes are calculated and
managed on a monthly basis. In order to
maintain a stable liquidity gap structure,
liquidity stress tests are conducted by risk
scenario every quarter.
Particularly, to prepare against a rise in
refinancing expenses when customers withdraw
funds exceeding normal levels, we have
introduced liquidity CaR while distributing and
managing risk capital.
Operational Risk Management
Operational risk refers to risk resulting from
direct and/or indirect losses caused by
incomplete or incorrect internal processes,
employee fraud or misconduct, system errors,
or external factors.
Shinhan Bank has operated its Basel II
operational risk management system since
February 2006.
Shinhan Bank’s operational risk management
structure involves three major lines, in addition
to the BOD and management. They include (1)
business organizations, taking charge of
primary responsibilities and roles, (2) Risk
Management Department and other Internal
control-related departments that are committed
to the construction and efficient operation of
operational risk management systems based on
expertise, and (3) Audit Department dedicated to
conducting thorough and efficient inspections. We also built an operational risk management
system that consists of six modules. They
include: RCSA (Risk and Control Self-
Assessment), KRI (Key Risk Indicator), LDC
(Loss Data Collection), Scenario Analysis, and
Operational Risk Culture. Utilizing these
systems, we will meet the quantitative and
qualitative requirements of the International
Convergence of Capital Measurement and
Capital Standards (commonly known as Basel
II), and the FSS (Financial Supervisory Service)
while raising our management levels.
Preparations for the Operation of Basel II
Shinhan Bank has prepared for the operation of
the New Basel Capital Accord by organizing an
independent Basel II Team in February 2004 to
meet industry requirements.
The team completed an initial project by the end
of 2004, analyzing the Basel II requirements and
establishing detailed plans to meet them. Based
on the outcome of this project, the team
established specific systems such as credit risk,
operational risk, and capital adequacy
evaluations, from 2005. The creation of these
systems was wrapped up at the end of 2006,
enabling the bank to continue pilot system
operations and verifications to satisfy the Basel
II requirements and utilize these for its
management and operational decision making
from 2007. We will continue our efforts to meet the Basel II
requirements for overall management and
business processes while advancing our risk
management capabilities and expanding risk
management culture. To this end, we will
reconstruct (1) consistent and transparent
credit processes and (2) credit rating systems,
given the borrowers' default risk and the nature
of transaction exposure. We will also apply profit
and loss evaluations, considering estimated
losses and the extended RAPM's (Risk Adjusted
Performance Measures).
In summary, we aim to use the AIRB (Advanced
Internal Rating Based) for credit risk, and the
AMA (Advanced Measurement Approach) for
operational risk. These are the most developed
among several risk measuring methods
suggested by the Basel II. However, we plan to
also employ the FIRB (Foundation Internal
Rating Based) for credit risk and the Standard
Approach for operational risk during the
transition period, allowing for the Basel II data,
preliminary operational requirements, and
introduction schedule in Korea.
[edit] External links
- Shinhan Bank Homepage
- Shinhan Bank Japan Homepage
- Shinhan Financial Group Homepage
- Shinhan Financial Group Japan Homepage
- Shinhan Good Morning Securities
- Shinhan Capital
- Shinhan Life Insurance
- Shinhan BNP Paribas Investment Trust Management
- Shinhan Card
- LG Card
- Jeju Bank
- Yahoo! Finance(NASDAQ) page for Shinhan Bank
- [http://finance.yahoo.com/q?s=055550.KS Yahoo! Finance(KOSDAQ) page for Shinhan Bankko:신한은행
ja:新韓銀行
