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Reporting entity | 12 Months Ended
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Dec. 31, 2025
Disclosure of reporting entity [Abstract] |
Reporting entity |
1. | Reporting entity
Shinhan Financial Group Co., Ltd., the controlling company, and its subsidiaries included in consolidation (collectively the “Group”) are summarized as follows:
| (a) | Controlling company
Shinhan Financial Group Co., Ltd. (the “Shinhan Financial Group” or the “Company”), the controlling company, is incorporated on September 1, 2001 for the main purposes of controlling, managing and funding Shinhan Bank, Shinhan Securities Co., Ltd., Shinhan Capital Co., Ltd. and Shinhan BNP Asset Management Co., Ltd. by way of share transfers. The total capital stock amounted to W 1,461,721 million. Also, Shinhan Financial Group’s shares have been listed on the Korea Exchange since September 10, 2001 and Shinhan Financial Group’s American Depositary Shares have been registered with the Securities and Exchange Commission (SEC) and listed on the New York Stock Exchange since September 16, 2003.
| (b) | Ownership of Shinhan Financial Group and its major consolidated subsidiaries as of December 31, 2024 and 2025 are as follows:
|  |  |  |  |  | Date of financial information |  | Ownership (%) |
Investor |  | Investee (*1) |  | Location |  | 2024 |  |  | 2025 |
Shinhan Financial Group Co., Ltd. |  | Shinhan Bank |  | Korea |  | December 31 |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Card Co., Ltd. |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Securities Co., Ltd. |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Life Insurance Co., Ltd. |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Capital Co., Ltd. |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Jeju Bank (*2) |  | ” |  | ” |  |  | 75.3 |  |  |  | 64.0 |
” |  | Shinhan Asset Management Co., Ltd. |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | SHC Management Co., Ltd. |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan DS |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Savings Bank |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Asset Trust Co., Ltd. |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Fund Partners Co., Ltd. |  | ” |  | ” |  |  | 99.8 |  |  |  | 99.8 |
” |  | Shinhan REITs Management Co., Ltd. |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Venture Investment Co., Ltd. |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan EZ General Insurance Co., Ltd. (*3) |  | ” |  | ” |  |  | 85.1 |  |  |  | 91.7 |
Shinhan Bank |  | Shinhan Bank America |  | USA |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Bank Europe GmbH |  | Germany |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Bank Cambodia |  | Cambodia |  | ” |  |  | 97.5 |  |  |  | 97.5 |
” |  | Shinhan Bank Kazakhstan Limited |  | Kazakhstan |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Bank Canada |  | Canada |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Bank (China) Limited |  | China |  | ” |  |  | 100.0 |  |  |  | 100.0 |
|  |  |  |  |  | Date of financial information |  | Ownership (%) |
Investor |  | Investee (*1) |  | Location |  | 2024 |  |  | 2025 |
” |  | Shinhan Bank Japan |  | Japan |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Bank Vietnam Limited |  | Vietnam |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Banco Shinhan de Mexico |  | Mexico |  | ” |  |  | 99.9 |  |  |  | 99.9 |
” |  | PT Bank Shinhan Indonesia |  | Indonesia |  | ” |  |  | 99.0 |  |  |  | 99.0 |
KIRAM HO CHI MINH OFFICE General Private Placement Real Estate Investment Trust (USD) |  | HIEP HIEP THANH Investment Company Limited (*4) |  | Vietnam |  | ” |  |  | — |  |  |  | 100.0 |
HIEP HIEP THANH Investment Company Limited |  | Khoi Phat Investment Company Limited (*4) |  | Vietnam |  | ” |  |  | — |  |  |  | 100.0 |
Shinhan Bank Japan |  | SBJ DNX (*5) |  | Japan |  | ” |  |  | 100.0 |  |  |  | 90.0 |
Shinhan Card Co., Ltd. |  | Shinhan Credit Information Co., Ltd. |  | Korea |  | December 31 |  |  | 100.0 |  |  |  | 100.0 |
” |  | LLP MFO Shinhan Finance (*6) |  | Kazakhstan |  | ” |  |  | 75.0 |  |  |  | 72.1 |
” |  | PT. Shinhan Indo Finance |  | Indonesia |  | ” |  |  | 76.3 |  |  |  | 76.3 |
” |  | Shinhan Microfinance Co., Ltd. |  | Myanmar |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Vietnam Finance Co., Ltd. |  | Vietnam |  | ” |  |  | 100.0 |  |  |  | 100.0 |
Shinhan Securities Co., Ltd. |  | Shinhan Securities America Inc. (*7) |  | USA |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Securities Asia Ltd. |  | Hong Kong |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Securities Vietnam Co., Ltd. |  | Vietnam |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | PT. Shinhan Sekuritas Indonesia |  | Indonesia |  | ” |  |  | 99.0 |  |  |  | 99.0 |
Shinhan Life Insurance Co., Ltd. |  | Shinhan Financial Plus Co., Ltd. |  | Korea |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan LifeCare Co., Ltd. |  | ” |  | ” |  |  | 100.0 |  |  |  | 100.0 |
” |  | Shinhan Life Insurance Vietnam Co., Ltd. |  | Vietnam |  | ” |  |  | 100.0 |  |  |  | 100.0 |
Shinhan DS |  | Shinhan DS Vietnam Co., Ltd. |  | Vietnam |  | ” |  |  | 100.0 |  |  |  | 100.0 |
| (*1) | Subsidiaries such as trust, beneficiary certificate, special purpose company, partnerships and private equity fund which are not actually operating their own business are excluded.
| (*2) | During the year ended December 31, 2025, a third-party share issuance resulted in a decrease in the Group’s ownership interest from 75.3% to 64.0%.
| (*3) | During the year ended December 31, 2025, the Group participated in a capital increase of W 100,000 million conducted by Shinhan EZ General Insurance Co., Ltd., resulting in an increase in its ownership interest from 85.1% to 91.7%.
| (*4) | During the year ended December 31, 2025, the entity became a consolidated subsidiary through a business combination.
| (*5) | During the year ended December 31, 2025, the Group’s ownership interest decreased from 100.0% to 90.0% due to a new share issuance by SBJ DNX and the partial disposal of shares held by SBJ Bank.
| (*6) | During the year ended December 31, 2025, a third-party share issuance resulted in a decrease in the Group’s ownership interest from 75.0% to 72.1%.
| (*7) | As of December 31, 2025, the disposal is in progress and has been classified as held for sale.
| (c) | Consolidated structured entities
Consolidated structured entities are as follows:
Category |  | Consolidated structured entities |  | Description
Trust |  | Shinhan Bank (including development trust) and 17 others |  | A trust is consolidated when the Group as a trustee is exposed to significant variable returns, if principal or interest amounts of the entrusted properties falls below guaranteed amount, the Group should compensate it, and the Group has the ability to affect those returns.
Asset-Backed Securitization |  | Tiger Eyes 3 Co., Ltd. and 154 others |  | An entity for asset backed securitization is consolidated when the Group has sole decision-making authority to dispose assets or change the conditions of the assets, and the Group is substantially exposed to, or has rights to significant variable returns by providing credit enhancement and purchases of subordinated securities.
Structured Financing |  | — |  | An entity established for structured financing relating to real estate, shipping, or mergers and acquisitions is consolidated when, due to events such as the counterparty’s default, normal operations become no longer feasible and the Group, as the largest credit provider to the entity, has sole decision-making authority of these entities due to the entities default, and is substantially exposed to, or has rights to significant variable returns.
Investment Fund |  | One Shinhan Future’s Fund and 187 others |  | An investment fund is consolidated, when the Group manages or invests assets of the investment funds on behalf of other investors as a collective investor or a business executive, or has the ability to dismiss the manager of the investment funds, and is substantially exposed to, or has rights to, the significant variable returns.
| (*) | The Group provides ABCP purchase agreements and others of W 7,593,502 million for the purpose of credit enhancement of structured companies.

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