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Financial risk management (Tables) | 12 Months Ended
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Dec. 31, 2025
Disclosure of financial risk management [Abstract] |
Reflection of forward-looking information | <December 31, 2024> ① Upside scenario
Major variables (*1), (*2), (*3) |  | Correlation between credit risks |  | 2024.4Q |  |  | 2025 |
| 1Q |  |  | 2Q |  |  | 3Q |  |  | 4Q |
GDP growth rate (YoY %) |  | (-) |  |  | 2.1 |  |  |  | 1.5 |  |  |  | 2.4 |  |  |  | 3.2 |  |  |  | 2.8 |
Private consumption index (YoY %) |  | (-) |  |  | 1.2 |  |  |  | 1.6 |  |  |  | 2.5 |  |  |  | 2.6 |  |  |  | 2.5 |
Facility investment growth rate (YoY %) |  | (-) |  |  | 4.9 |  |  |  | 4.4 |  |  |  | 6.5 |  |  |  | 1.2 |  |  |  | 3.5 |
Consumer price index growth rate (%) |  | (+) |  |  | 1.6 |  |  |  | 2.2 |  |  |  | 2.4 |  |  |  | 2.4 |  |  |  | 2.3 |
Balance on current account (100 million dollars) |  | (-) |  |  | 220.0 |  |  |  | 210.0 |  |  |  | 190.0 |  |  |  | 180.0 |  |  |  | 200.0 |
Government bond 3y yields (%) |  | — |  |  | 2.8 |  |  |  | 3.1 |  |  |  | 3.2 |  |  |  | 3.2 |  |  |  | 3.2 |
② Central scenario
Major variables (*1), (*2), (*3) |  | Correlation between credit risks |  | 2024.4Q |  |  | 2025 |
| 1Q |  |  | 2Q |  |  | 3Q |  |  | 4Q |
GDP growth rate (YoY %) |  | (-) |  |  | 2.1 |  |  |  | 1.2 |  |  |  | 2.0 |  |  |  | 2.4 |  |  |  | 2.2 |
Private consumption index (YoY %) |  | (-) |  |  | 1.2 |  |  |  | 1.3 |  |  |  | 2.1 |  |  |  | 2.0 |  |  |  | 1.8 |
Facility investment growth rate (YoY %) |  | (-) |  |  | 4.9 |  |  |  | 4.0 |  |  |  | 5.8 |  |  |  | 0.8 |  |  |  | 2.5 |
Consumer price index growth rate (%) |  | (+) |  |  | 1.6 |  |  |  | 1.9 |  |  |  | 2.1 |  |  |  | 2.1 |  |  |  | 2.0 |
Balance on current account (100 million dollars) |  | (-) |  |  | 200.0 |  |  |  | 190.0 |  |  |  | 170.0 |  |  |  | 160.0 |  |  |  | 180.0 |
Government bond 3y yields (%) |  | — |  |  | 2.8 |  |  |  | 2.9 |  |  |  | 2.9 |  |  |  | 3.0 |  |  |  | 2.9 |
③ Downside scenario
Major variables (*1), (*2), (*3) |  | Correlation between credit risks |  | 2024.4Q |  |  | 2025 |
| 1Q |  |  | 2Q |  |  | 3Q |  |  | 4Q |
GDP growth rate (YoY %) |  | (-) |  |  | 2.1 |  |  |  | 0.8 |  |  |  | 1.4 |  |  |  | 1.7 |  |  |  | 1.0 |
Private consumption index (YoY %) |  | (-) |  |  | 1.2 |  |  |  | 0.9 |  |  |  | 1.5 |  |  |  | 1.1 |  |  |  | 0.6 |
Facility investment growth rate (YoY %) |  | (-) |  |  | 4.9 |  |  |  | 2.8 |  |  |  | 4.5 |  |  |  | 0.2 |  |  |  | 1.3 |
Consumer price index growth rate (%) |  | (+) |  |  | 1.6 |  |  |  | 1.6 |  |  |  | 1.8 |  |  |  | 1.8 |  |  |  | 1.7 |
Balance on current account (100 million dollars) |  | (-) |  |  | 170.0 |  |  |  | 160.0 |  |  |  | 140.0 |  |  |  | 120.0 |  |  |  | 130.0 |
Government bond 3y yields (%) |  | — |  |  | 2.8 |  |  |  | 2.8 |  |  |  | 2.7 |  |  |  | 2.4 |  |  |  | 2.2 |
④ Worst scenario
Major variables (*1), (*2), (*4) |  | Correlation between credit risks |  | Economic Crisis for 1 year |
GDP growth rate (YoY %) |  | (-) |  |  | (5.1 | )
Private consumption index (YoY %) |  | (-) |  |  | (11.9 | )
Facility investment growth rate (YoY %) |  | (-) |  |  | (38.6 | )
Consumer price index growth rate (%) |  | (+) |  |  | 7.5 |
Balance on current account (100 million dollars) |  | (-) |  |  | 401.1 |
Government bond 3y yields (%) |  | — |  |  | 6.2 |
| (*1) | As a result of examining the correlation between each variable, the Group applied key variables to reflect the final future economic outlook. Shinhan Bank applied key variables such as GDP growth rate, current account balance, and 3-year government bond yield, while Shinhan Card Co., Ltd. applied key variables such as GDP growth rate. In addition to the table above, the Group has selected macroeconomic indicators such as KOSPI index.
| (*2) | Considering the default forecast period, the Group reflected the future economic outlook.
| (*3) | The macroeconomic outlook figures are estimated by the Group for the purpose of calculating expected credit losses based on information from domestic and foreign research institutes. Therefore, it could be different from other institutions’ estimates.
| (*4) | Reflected considering the foreign exchange crisis.
<December 31, 2025> ① Upside scenario
Major variables (*1), (*2), (*3) |  | Correlation between credit risks |  |  | 2025.4Q |  |  | 2026 |
| 1Q |  |  | 2Q |  |  | 3Q |  |  | 4Q |
GDP growth rate (YoY %) |  |  | (-) |  |  |  | 1.5 |  |  |  | 2.9 |  |  |  | 2.8 |  |  |  | 2.0 |  |  |  | 2.0 |
Private consumption index (YoY %) |  |  | (-) |  |  |  | 1.9 |  |  |  | 3.2 |  |  |  | 3.3 |  |  |  | 2.2 |  |  |  | 2.0 |
Facility investment growth rate (YoY %) |  |  | (-) |  |  |  | (1.7 | ) |  |  | 1.9 |  |  |  | 4.6 |  |  |  | 2.2 |  |  |  | 1.7 |
Consumer price index growth rate (%) |  |  | (+) |  |  |  | 2.4 |  |  |  | 2.1 |  |  |  | 2.1 |  |  |  | 2.2 |  |  |  | 2.2 |
Balance on current account (100 million dollars) |  |  | (-) |  |  |  | 300.0 |  |  |  | 220.0 |  |  |  | 230.0 |  |  |  | 240.0 |  |  |  | 260.0 |
Government bond 3y yields (%) |  |  | — |  |  |  | 2.8 |  |  |  | 2.6 |  |  |  | 2.6 |  |  |  | 2.7 |  |  |  | 2.7 |
② Central scenario |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Major variables (*1), (*2), (*3) |  | Correlation between credit risks |  |  | 2025.4Q |  |  | 2026 |
| 1Q |  |  | 2Q |  |  | 3Q |  |  | 4Q |
GDP growth rate (YoY %) |  |  | (-) |  |  |  | 1.5 |  |  |  | 2.4 |  |  |  | 2.1 |  |  |  | 1.3 |  |  |  | 1.3 |
Private consumption index (YoY %) |  |  | (-) |  |  |  | 1.9 |  |  |  | 2.7 |  |  |  | 2.6 |  |  |  | 1.2 |  |  |  | 1.2 |
Facility investment growth rate (YoY %) |  |  | (-) |  |  |  | (1.7 | ) |  |  | 1.3 |  |  |  | 3.9 |  |  |  | 1.8 |  |  |  | 1.0 |
Consumer price index growth rate (%) |  |  | (+) |  |  |  | 2.4 |  |  |  | 1.6 |  |  |  | 1.8 |  |  |  | 2.0 |  |  |  | 2.0 |
Balance on current account (100 million dollars) |  |  | (-) |  |  |  | 300.0 |  |  |  | 210.0 |  |  |  | 220.0 |  |  |  | 230.0 |  |  |  | 250.0 |
Government bond 3y yields (%) |  |  | — |  |  |  | 2.8 |  |  |  | 2.3 |  |  |  | 2.4 |  |  |  | 2.4 |  |  |  | 2.5 |
③ Downside scenario
Major variables (*1), (*2), (*3) |  | Correlation between credit risks |  | 2025.4Q |  |  | 2026 |
| 1Q |  |  | 2Q |  |  | 3Q |  |  | 4Q |
GDP growth rate (YoY %) |  | (-) |  |  | 1.5 |  |  |  | 1.6 |  |  |  | 1.0 |  |  |  | 0.3 |  |  |  | 0.3 |
Private consumption index (YoY %) |  | (-) |  |  | 1.9 |  |  |  | 1.4 |  |  |  | 1.0 |  |  |  | 0.4 |  |  |  | 0.5 |
Facility investment growth rate (YoY %) |  | (-) |  |  | (1.7 | ) |  |  | (0.1 | ) |  |  | 2.4 |  |  |  | 1.2 |  |  |  | 0.4 |
Consumer price index growth rate (%) |  | (+) |  |  | 2.4 |  |  |  | 1.6 |  |  |  | 1.7 |  |  |  | 1.8 |  |  |  | 1.8 |
Balance on current account (100 million dollars) |  | (-) |  |  | 300.0 |  |  |  | 190.0 |  |  |  | 200.0 |  |  |  | 210.0 |  |  |  | 230.0 |
Government bond 3y yields (%) |  | — |  |  | 2.8 |  |  |  | 2.1 |  |  |  | 1.9 |  |  |  | 1.6 |  |  |  | 1.7 |
④ Worst scenario
Major variables (*1), (*2), (*4) |  | Correlation between credit risks |  | Economic Crisis for 1 year |
GDP growth rate (YoY %) |  | (-) |  |  | (5.1 | )
Private consumption index (YoY %) |  | (-) |  |  | (11.9 | )
Facility investment growth rate (YoY %) |  | (-) |  |  | (38.6 | )
Consumer price index growth rate (%) |  | (+) |  |  | 7.5 |
Balance on current account (100 million dollars) |  | (-) |  |  | 401.1 |
Government bond 3y yields (%) |  | — |  |  | 4.6 |
| (*1) | As a result of examining the correlation between each variable, the Group applied key variables to reflect the final future economic outlook. Shinhan Bank applied key variables such as GDP growth rate, current account balance, and 3-year government bond yield, while Shinhan Card Co., Ltd. applied key variables such as GDP growth rate. In addition to the table above, the Group has selected macroeconomic indicators such as unemployment rate.
| (*2) | Considering the default forecast period, the Group reflected the future economic outlook.
| (*3) | The macroeconomic outlook figures are estimated by the Group for the purpose of calculating expected credit losses based on information from domestic and foreign research institutes. Therefore, it could be different from other institutions’ estimates.
| (*4) | Reflected considering the foreign exchange crisis.
Maximum exposure to credit risk | The details of the maximum exposure to credit risk for financial instruments held as of December 31, 2024 and 2025 are as follows:
|  | 2024 |  |  | 2025 |
Due from banks and loans at amortized cost (*1), (*3): |  |  |  |  |  |  |  |
Banks |  | W | 14,058,051 |  |  |  | 12,658,709 |
Retail |  |  | 199,809,576 |  |  |  | 208,308,298 |
Government/Public sector/Central bank |  |  | 27,228,308 |  |  |  | 26,417,332 |
Corporations |  |  | 218,713,457 |  |  |  | 226,554,125 |
Card receivable |  |  | 27,714,596 |  |  |  | 27,695,043 |
|  |  | 487,523,988 |  |  |  | 501,633,507 |
Due from banks and loans at FVTPL (*3): |  |  |  |  |  |  |  |
Banks |  |  | 134,609 |  |  |  | 169,972 |
Corporations |  |  | 1,780,787 |  |  |  | 1,286,144 |
|  |  | 1,915,396 |  |  |  | 1,456,116 |
Securities at FVTPL |  |  | 67,134,121 |  |  |  | 71,727,860 |
Securities at FVOCI |  |  | 92,016,210 |  |  |  | 101,282,906 |
Securities at amortized cost (*1) |  |  | 33,315,999 |  |  |  | 31,944,368 |
Derivative assets |  |  | 10,279,257 |  |  |  | 7,153,950 |
Other financial assets (*1), (*2) |  |  | 23,116,960 |  |  |  | 43,323,340 |
Guarantee contracts |  |  | 22,509,195 |  |  |  | 26,221,968 |
Loan commitments and other credit liabilities |  |  | 218,980,794 |  |  |  | 220,317,053 |
|  | W | 956,791,920 |  |  |  | 1,005,061,068 |
| (*1) | The maximum exposure amounts for due from banks, loans, securities at amortized cost and other financial assets at amortized cost are the net carrying amount after deducting the allowance for credit losses.
| (*2) | Other financial assets mainly comprise of accounts receivable, accrued income, deposits, domestic exchange settlement debit and suspense payments.
| (*3) | Classified as similar credit risk group based on calculation of the BIS ratio under new Basel Capital Accord (Basel III).
Maximum amount of exposure to credit risk by type of collateral | iii) The maximum exposure to credit risk of loans among financial instruments held as of December 31, 2024 and 2025, by type of collateral is as follows:
|  | 2024 |
Classification |  | 12-month expected credit losses |  |  | Lifetime expected credit losses |  |  | Total |
| Non-impaired |  |  | Impaired |
Guarantee |  | W | 55,422,696 |  |  |  | 11,872,362 |  |  |  | 450,079 |  |  |  | 67,745,137 |
Deposits and Savings |  |  | 2,508,238 |  |  |  | 401,970 |  |  |  | 4,971 |  |  |  | 2,915,179 |
Property and equipment |  |  | 1,576,438 |  |  |  | 367,086 |  |  |  | 4,154 |  |  |  | 1,947,678 |
Real estate |  |  | 170,210,822 |  |  |  | 26,682,978 |  |  |  | 528,200 |  |  |  | 197,422,000 |
Securities |  |  | 1,846,531 |  |  |  | 155,761 |  |  |  | — |  |  |  | 2,002,292 |
Others |  |  | 7,687 |  |  |  | — |  |  |  | — |  |  |  | 7,687 |
Total |  | W | 231,572,412 |  |  |  | 39,480,157 |  |  |  | 987,404 |  |  |  | 272,039,973 |
|  | 2025 |
Classification |  | 12-month expected credit losses |  |  | Lifetime expected credit losses |  |  | Total |
| Non-impaired |  |  | Impaired |
Guarantee |  | W | 60,850,725 |  |  |  | 9,781,605 |  |  |  | 411,985 |  |  |  | 71,044,315 |
Deposits and Savings |  |  | 2,825,303 |  |  |  | 399,325 |  |  |  | 2,570 |  |  |  | 3,227,198 |
Property and equipment |  |  | 1,603,758 |  |  |  | 518,626 |  |  |  | 4,068 |  |  |  | 2,126,452 |
Real estate |  |  | 185,544,412 |  |  |  | 28,636,383 |  |  |  | 721,919 |  |  |  | 214,902,714 |
Securities |  |  | 2,363,043 |  |  |  | 78,110 |  |  |  | 34,083 |  |  |  | 2,475,236 |
Others |  |  | 12,414 |  |  |  | 2,000 |  |  |  | — |  |  |  | 14,414 |
Total |  | W | 253,199,655 |  |  |  | 39,416,049 |  |  |  | 1,174,625 |  |  |  | 293,790,329 |
Impairment information by credit risk of financial assets | iv) Impairment information by credit risk of financial assets Details of impaired financial assets due to credit risk as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
|  | 12-month expected credit losses |  |  | Lifetime expected credit losses |  |  | Total |  |  | Allowances |  |  | Net |  |  | Mitigation of credit risk due to collateral |
|  | Grade 1 |  |  | Grade 2 |  |  | Grade 1 |  |  | Grade 2 |  |  | Impaired |
Due from banks and loans at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banks |  | W | 11,740,875 |  |  |  | 2,027,427 |  |  |  | 254,625 |  |  |  | 60,114 |  |  |  | — |  |  |  | 14,083,041 |  |  |  | (24,990 | ) |  |  | 14,058,051 |  |  |  | 27,874 |
Retail |  |  | 177,166,099 |  |  |  | 6,397,386 |  |  |  | 11,714,193 |  |  |  | 4,387,929 |  |  |  | 1,198,594 |  |  |  | 200,864,201 |  |  |  | (1,054,625 | ) |  |  | 199,809,576 |  |  |  | 151,610,129 |
Government/Public sector/ Central bank |  |  | 25,118,226 |  |  |  | 2,030,126 |  |  |  | 83,783 |  |  |  | 49 |  |  |  | — |  |  |  | 27,232,184 |  |  |  | (3,876 | ) |  |  | 27,228,308 |  |  |  | 2,500 |
Corporations |  |  | 117,893,181 |  |  |  | 55,345,067 |  |  |  | 20,324,015 |  |  |  | 25,633,821 |  |  |  | 1,880,868 |  |  |  | 221,076,952 |  |  |  | (2,363,495 | ) |  |  | 218,713,457 |  |  |  | 117,575,757 |
Card receivable |  |  | 21,631,071 |  |  |  | 2,974,287 |  |  |  | 1,170,078 |  |  |  | 2,436,456 |  |  |  | 642,991 |  |  |  | 28,854,883 |  |  |  | (1,140,287 | ) |  |  | 27,714,596 |  |  |  | 18,881 |
|  |  | 353,549,452 |  |  |  | 68,774,293 |  |  |  | 33,546,694 |  |  |  | 32,518,369 |  |  |  | 3,722,453 |  |  |  | 492,111,261 |  |  |  | (4,587,273 | ) |  |  | 487,523,988 |  |  |  | 269,235,141 |
Securities at FVOCI (*) |  |  | 83,218,889 |  |  |  | 8,736,563 |  |  |  | 10,034 |  |  |  | 50,724 |  |  |  | — |  |  |  | 92,016,210 |  |  |  | — |  |  |  | 92,016,210 |  |  |  | — |
Securities at amortized cost |  |  | 31,103,200 |  |  |  | 2,219,343 |  |  |  | — |  |  |  | 3,644 |  |  |  | — |  |  |  | 33,326,187 |  |  |  | (10,188 | ) |  |  | 33,315,999 |  |  |  | — |
|  | W | 467,871,541 |  |  |  | 79,730,199 |  |  |  | 33,556,728 |  |  |  | 32,572,737 |  |  |  | 3,722,453 |  |  |  | 617,453,658 |  |  |  | (4,597,461 | ) |  |  | 612,856,197 |  |  |  | 269,235,141 |
|  | 2025 |
|  | 12-month expected credit losses |  |  | Lifetime expected credit losses |  |  | Total |  |  | Allowances |  |  | Net |  |  | Mitigation of credit risk due to collateral |
|  | Grade 1 |  |  | Grade 2 |  |  | Grade 1 |  |  | Grade 2 |  |  | Impaired |
Due from banks and loans at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banks |  | W | 11,039,981 |  |  |  | 1,445,815 |  |  |  | 183,147 |  |  |  | 121 |  |  |  | — |  |  |  | 12,669,064 |  |  |  | (10,355 | ) |  |  | 12,658,709 |  |  |  | 171 |
Retail |  |  | 188,215,501 |  |  |  | 6,674,522 |  |  |  | 9,227,654 |  |  |  | 3,991,054 |  |  |  | 1,252,699 |  |  |  | 209,361,430 |  |  |  | (1,053,132 | ) |  |  | 208,308,298 |  |  |  | 162,423,106 |
Government/Public sector/ Central bank |  |  | 23,669,547 |  |  |  | 2,468,610 |  |  |  | 290,730 |  |  |  | 11 |  |  |  | — |  |  |  | 26,428,898 |  |  |  | (11,566 | ) |  |  | 26,417,332 |  |  |  | 2,597 |
Corporations |  |  | 121,819,093 |  |  |  | 56,460,975 |  |  |  | 22,692,064 |  |  |  | 25,790,138 |  |  |  | 2,091,404 |  |  |  | 228,853,674 |  |  |  | (2,299,549 | ) |  |  | 226,554,125 |  |  |  | 126,763,442 |
Card receivable |  |  | 20,649,246 |  |  |  | 4,449,746 |  |  |  | 1,060,430 |  |  |  | 1,976,109 |  |  |  | 481,682 |  |  |  | 28,617,213 |  |  |  | (922,170 | ) |  |  | 27,695,043 |  |  |  | 18,139 |
|  |  | 365,393,368 |  |  |  | 71,499,668 |  |  |  | 33,454,025 |  |  |  | 31,757,433 |  |  |  | 3,825,785 |  |  |  | 505,930,279 |  |  |  | (4,296,772 | ) |  |  | 501,633,507 |  |  |  | 289,207,455 |
Securities at FVOCI (*) |  |  | 90,408,440 |  |  |  | 10,847,635 |  |  |  | — |  |  |  | 26,831 |  |  |  | — |  |  |  | 101,282,906 |  |  |  | — |  |  |  | 101,282,906 |  |  |  | — |
Securities at amortized cost |  |  | 30,031,575 |  |  |  | 1,921,484 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 31,953,059 |  |  |  | (8,691 | ) |  |  | 31,944,368 |  |  |  | — |
|  | W | 485,833,383 |  |  |  | 84,268,787 |  |  |  | 33,454,025 |  |  |  | 31,784,264 |  |  |  | 3,825,785 |  |  |  | 639,166,244 |  |  |  | (4,305,463 | ) |  |  | 634,860,781 |  |  |  | 289,207,455 |
| (*) | Credit loss allowance recognized as other comprehensive income of securities at fair value through other comprehensive income amounted to W 38,346 million and W 60,301 million as of December 31, 2024 and 2025.
Credit risk exposures per credit grade of off-balance items | v) Credit risk exposures per credit grade of off-balance sheet items The credit risk exposure for off-balance sheet items such as guarantees, loan commitments, and other credit-related liabilities as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
|  | Grade 1 |  |  | Grade 2 |  |  | Impaired |  |  | Total |
Guarantee contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
12-month expected credit losses |  | W | 19,212,434 |  |  |  | 2,786,804 |  |  |  | — |  |  |  | 21,999,238 |
Lifetime expected credit losses |  |  | 361,440 |  |  |  | 127,153 |  |  |  | — |  |  |  | 488,593 |
Impaired |  |  | — |  |  |  | — |  |  |  | 21,364 |  |  |  | 21,364 |
|  |  | 19,573,874 |  |  |  | 2,913,957 |  |  |  | 21,364 |  |  |  | 22,509,195 |
Loan commitment and other credit line: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
12-month expected credit losses |  |  | 183,928,715 |  |  |  | 21,687,932 |  |  |  | — |  |  |  | 205,616,647 |
Lifetime expected credit losses |  |  | 10,370,570 |  |  |  | 2,988,286 |  |  |  | — |  |  |  | 13,358,856 |
Impaired |  |  | — |  |  |  | — |  |  |  | 5,291 |  |  |  | 5,291 |
|  |  | 194,299,285 |  |  |  | 24,676,218 |  |  |  | 5,291 |  |  |  | 218,980,794 |
|  | W | 213,873,159 |  |  |  | 27,590,175 |  |  |  | 26,655 |  |  |  | 241,489,989 |
|  | 2025 |
|  | Grade 1 |  |  | Grade 2 |  |  | Impaired |  |  | Total |
Guarantee contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
12-month expected credit losses |  | W | 20,555,651 |  |  |  | 4,535,466 |  |  |  | — |  |  |  | 25,091,117 |
Lifetime expected credit losses |  |  | 964,695 |  |  |  | 154,378 |  |  |  | — |  |  |  | 1,119,073 |
Impaired |  |  | — |  |  |  | — |  |  |  | 11,778 |  |  |  | 11,778 |
|  |  | 21,520,346 |  |  |  | 4,689,844 |  |  |  | 11,778 |  |  |  | 26,221,968 |
Loan commitment and other credit line: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
12-month expected credit losses |  |  | 185,899,148 |  |  |  | 22,774,387 |  |  |  | — |  |  |  | 208,673,535 |
Lifetime expected credit losses |  |  | 8,896,231 |  |  |  | 2,642,174 |  |  |  | — |  |  |  | 11,538,405 |
Impaired |  |  | — |  |  |  | — |  |  |  | 105,113 |  |  |  | 105,113 |
|  |  | 194,795,379 |  |  |  | 25,416,561 |  |  |  | 105,113 |  |  |  | 220,317,053 |
|  | W | 216,315,725 |  |  |  | 30,106,405 |  |  |  | 116,891 |  |  |  | 246,539,021 |
Credit risk exposures per credit quality of derivative assets | vii) Credit risk exposures per credit quality of derivative assets Credit risk exposures per credit quality of derivative assets as of December 31, 2024 and 2025 are as follows:
|  | 2024 |  |  | 2025 |
Grade 1 |  | W | 9,578,458 |  |  |  | 6,797,321 |
Grade 2 |  |  | 700,799 |  |  |  | 356,629 |
|  | W | 10,279,257 |  |  |  | 7,153,950 |
(*) | Credit quality of derivative assets is classified based on the internal credit ratings.
Concentration by geographic location | viii) Concentration by geographic location An analysis of concentration by geographic location for financial instruments, net of allowance, as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
Classification (*) |  | Korea |  |  | USA |  |  | UK |  |  | Japan |  |  | Germany |  |  | Vietnam |  |  | China |  |  | Other |  |  | Total |
Due from banks and loans at amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banks |  | W | 6,303,730 |  |  |  | 1,284,361 |  |  |  | 624,468 |  |  |  | 334,073 |  |  |  | 354,583 |  |  |  | 1,295,863 |  |  |  | 1,633,954 |  |  |  | 2,227,019 |  |  |  | 14,058,051 |
Retail |  |  | 185,102,271 |  |  |  | 506,525 |  |  |  | 7,064 |  |  |  | 5,165,687 |  |  |  | 3,399 |  |  |  | 4,391,692 |  |  |  | 2,002,467 |  |  |  | 2,630,471 |  |  |  | 199,809,576 |
Government/Public sector/Central bank |  |  | 21,716,534 |  |  |  | 1,018,284 |  |  |  | — |  |  |  | 1,914,100 |  |  |  | 197,042 |  |  |  | 334,366 |  |  |  | 360,451 |  |  |  | 1,687,531 |  |  |  | 27,228,308 |
Corporations |  |  | 189,219,966 |  |  |  | 5,203,409 |  |  |  | 789,820 |  |  |  | 7,075,869 |  |  |  | 218,422 |  |  |  | 4,533,648 |  |  |  | 3,125,771 |  |  |  | 8,546,552 |  |  |  | 218,713,457 |
Card receivable |  |  | 27,356,847 |  |  |  | 12,469 |  |  |  | 528 |  |  |  | 2,992 |  |  |  | 330 |  |  |  | 274,884 |  |  |  | 42,310 |  |  |  | 24,236 |  |  |  | 27,714,596 |
|  |  | 429,699,348 |  |  |  | 8,025,048 |  |  |  | 1,421,880 |  |  |  | 14,492,721 |  |  |  | 773,776 |  |  |  | 10,830,453 |  |  |  | 7,164,953 |  |  |  | 15,115,809 |  |  |  | 487,523,988 |
Deposits and loans at FVTPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banks |  |  | 99,159 |  |  |  | 35,450 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 134,609 |
Corporations |  |  | 1,457,224 |  |  |  | 163,511 |  |  |  | — |  |  |  | 15,402 |  |  |  | — |  |  |  | 5,193 |  |  |  | — |  |  |  | 139,457 |  |  |  | 1,780,787 |
|  |  | 1,556,383 |  |  |  | 198,961 |  |  |  | — |  |  |  | 15,402 |  |  |  | — |  |  |  | 5,193 |  |  |  | — |  |  |  | 139,457 |  |  |  | 1,915,396 |
Securities at FVTPL |  |  | 61,955,771 |  |  |  | 3,321,700 |  |  |  | 377,462 |  |  |  | 135,194 |  |  |  | 2,564 |  |  |  | — |  |  |  | 7,144 |  |  |  | 1,334,286 |  |  |  | 67,134,121 |
Derivative assets |  |  | 8,199,726 |  |  |  | 687,950 |  |  |  | 41,218 |  |  |  | 152,555 |  |  |  | 274,786 |  |  |  | 3,201 |  |  |  | 1,613 |  |  |  | 918,208 |  |  |  | 10,279,257 |
Securities at FVOCI |  |  | 81,294,290 |  |  |  | 5,367,178 |  |  |  | 441,203 |  |  |  | 564,635 |  |  |  | 35,026 |  |  |  | 50,368 |  |  |  | 708,567 |  |  |  | 3,554,943 |  |  |  | 92,016,210 |
Securities at amortized cost |  |  | 31,113,242 |  |  |  | 207,817 |  |  |  | — |  |  |  | 499,988 |  |  |  | — |  |  |  | 761,386 |  |  |  | 116,944 |  |  |  | 616,622 |  |  |  | 33,315,999 |
|  |  | 613,818,760 |  |  |  | 17,808,654 |  |  |  | 2,281,763 |  |  |  | 15,860,495 |  |  |  | 1,086,152 |  |  |  | 11,650,601 |  |  |  | 7,999,221 |  |  |  | 21,679,325 |  |  |  | 692,184,971 |
Off-balance sheet items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guarantees |  |  | 20,517,889 |  |  |  | 579,426 |  |  |  | 250,938 |  |  |  | 44,186 |  |  |  | 9,663 |  |  |  | 199,535 |  |  |  | 511,891 |  |  |  | 395,667 |  |  |  | 22,509,195 |
Loan commitments and other liabilities related to credit |  |  | 206,833,657 |  |  |  | 1,873,831 |  |  |  | 290,909 |  |  |  | 352,256 |  |  |  | 87,212 |  |  |  | 2,187,736 |  |  |  | 2,158,798 |  |  |  | 5,196,395 |  |  |  | 218,980,794 |
|  | W | 227,351,546 |  |  |  | 2,453,257 |  |  |  | 541,847 |  |  |  | 396,442 |  |  |  | 96,875 |  |  |  | 2,387,271 |  |  |  | 2,670,689 |  |  |  | 5,592,062 |  |  |  | 241,489,989 |
|  | 2025 |
Classification (*) |  | Korea |  |  | USA |  |  | UK |  |  | Japan |  |  | Germany |  |  | Vietnam |  |  | China |  |  | Other |  |  | Total |
Due from banks and loans at amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banks |  | W | 4,934,110 |  |  |  | 1,409,928 |  |  |  | 479,051 |  |  |  | 278,851 |  |  |  | 363,081 |  |  |  | 933,820 |  |  |  | 1,078,467 |  |  |  | 3,181,401 |  |  |  | 12,658,709 |
Retail |  |  | 192,492,848 |  |  |  | 595,218 |  |  |  | 8,021 |  |  |  | 5,464,414 |  |  |  | 3,807 |  |  |  | 5,054,569 |  |  |  | 1,817,292 |  |  |  | 2,872,129 |  |  |  | 208,308,298 |
Government/Public sector/Central bank |  |  | 15,993,867 |  |  |  | 5,354,336 |  |  |  | — |  |  |  | 2,137,190 |  |  |  | 178,022 |  |  |  | 403,760 |  |  |  | 303,764 |  |  |  | 2,046,393 |  |  |  | 26,417,332 |
Corporations |  |  | 193,530,841 |  |  |  | 5,498,636 |  |  |  | 1,300,654 |  |  |  | 8,202,921 |  |  |  | 206,108 |  |  |  | 4,729,918 |  |  |  | 3,476,094 |  |  |  | 9,608,953 |  |  |  | 226,554,125 |
Card receivable |  |  | 27,359,956 |  |  |  | 13,936 |  |  |  | 477 |  |  |  | 3,273 |  |  |  | 339 |  |  |  | 237,884 |  |  |  | 50,429 |  |  |  | 28,749 |  |  |  | 27,695,043 |
|  |  | 434,311,622 |  |  |  | 12,872,054 |  |  |  | 1,788,203 |  |  |  | 16,086,649 |  |  |  | 751,357 |  |  |  | 11,359,951 |  |  |  | 6,726,046 |  |  |  | 17,737,625 |  |  |  | 501,633,507 |
Deposits and loans at FVTPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banks |  |  | 129,110 |  |  |  | 40,862 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 169,972 |
Corporations |  |  | 1,135,383 |  |  |  | 83,254 |  |  |  | — |  |  |  | 14,424 |  |  |  | — |  |  |  | 4,133 |  |  |  | — |  |  |  | 48,950 |  |  |  | 1,286,144 |
|  |  | 1,264,493 |  |  |  | 124,116 |  |  |  | — |  |  |  | 14,424 |  |  |  | — |  |  |  | 4,133 |  |  |  | — |  |  |  | 48,950 |  |  |  | 1,456,116 |
Securities at FVTPL |  |  | 65,274,393 |  |  |  | 3,720,780 |  |  |  | 861,745 |  |  |  | 147,328 |  |  |  | 7,399 |  |  |  | 12,012 |  |  |  | 11,839 |  |  |  | 1,692,364 |  |  |  | 71,727,860 |
Derivative assets |  |  | 5,776,528 |  |  |  | 480,953 |  |  |  | 17,518 |  |  |  | 153,496 |  |  |  | 112,892 |  |  |  | 6,618 |  |  |  | 7,791 |  |  |  | 598,154 |  |  |  | 7,153,950 |
Securities at FVOCI |  |  | 87,212,394 |  |  |  | 7,104,105 |  |  |  | 788,292 |  |  |  | 771,151 |  |  |  | 116,116 |  |  |  | 42,978 |  |  |  | 779,447 |  |  |  | 4,468,423 |  |  |  | 101,282,906 |
Securities at amortized cost |  |  | 30,100,982 |  |  |  | 206,599 |  |  |  | — |  |  |  | 432,067 |  |  |  | — |  |  |  | 465,350 |  |  |  | 96,367 |  |  |  | 643,003 |  |  |  | 31,944,368 |
|  |  | 623,940,412 |  |  |  | 24,508,607 |  |  |  | 3,455,758 |  |  |  | 17,605,115 |  |  |  | 987,764 |  |  |  | 11,891,042 |  |  |  | 7,621,490 |  |  |  | 25,188,519 |  |  |  | 715,198,707 |
Off-balance sheet items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guarantees |  |  | 23,442,408 |  |  |  | 802,192 |  |  |  | 273,331 |  |  |  | 38,669 |  |  |  | 26,576 |  |  |  | 202,498 |  |  |  | 734,356 |  |  |  | 701,938 |  |  |  | 26,221,968 |
Loan commitments and other liabilities related to credit |  |  | 210,218,685 |  |  |  | 1,546,770 |  |  |  | 270,460 |  |  |  | 572,774 |  |  |  | 126,187 |  |  |  | 2,387,567 |  |  |  | 1,064,500 |  |  |  | 4,130,110 |  |  |  | 220,317,053 |
|  | W | 233,661,093 |  |  |  | 2,348,962 |  |  |  | 543,791 |  |  |  | 611,443 |  |  |  | 152,763 |  |  |  | 2,590,065 |  |  |  | 1,798,856 |  |  |  | 4,832,048 |  |  |  | 246,539,021 |
(*) | The amounts by geographic location are presented as the net carrying amount after deducting allowances for loan losses.
Concentration by industry sector | ix) Concentration by industry sector An analysis of concentration by industry sector of financial instruments, net of allowance, as of December 31, 2024 and 2025 is as follows:
|  | 2024 |
Classification (*) |  | Finance and insurance |  |  | Manufacturing |  |  | Retail and wholesale |  |  | Real estate and business |  |  | Construction service |  |  | Lodging and Restaurant |  |  | Other |  |  | Retail customers |  |  | Total |
Due from banks and loans at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banks |  | W | 13,495,577 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 562,474 |  |  |  | — |  |  |  | 14,058,051 |
Retail |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 199,809,576 |  |  |  | 199,809,576 |
Government/Public sector/Central bank |  |  | 27,042,097 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 186,211 |  |  |  | — |  |  |  | 27,228,308 |
Corporations |  |  | 22,485,184 |  |  |  | 62,200,259 |  |  |  | 23,447,863 |  |  |  | 47,109,684 |  |  |  | 5,409,739 |  |  |  | 6,735,852 |  |  |  | 51,324,876 |  |  |  | — |  |  |  | 218,713,457 |
Card receivable |  |  | 81,613 |  |  |  | 323,992 |  |  |  | 288,452 |  |  |  | 65,256 |  |  |  | 51,107 |  |  |  | 20,277 |  |  |  | 1,189,255 |  |  |  | 25,694,644 |  |  |  | 27,714,596 |
|  |  | 63,104,471 |  |  |  | 62,524,251 |  |  |  | 23,736,315 |  |  |  | 47,174,940 |  |  |  | 5,460,846 |  |  |  | 6,756,129 |  |  |  | 53,262,816 |  |  |  | 225,504,220 |  |  |  | 487,523,988 |
Due from banks and loans at FVTPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banks |  |  | 35,450 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 99,159 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 134,609 |
Corporations |  |  | 859,295 |  |  |  | 391,667 |  |  |  | 301,658 |  |  |  | 149,652 |  |  |  | 10,000 |  |  |  | — |  |  |  | 68,515 |  |  |  | — |  |  |  | 1,780,787 |
|  |  | 894,745 |  |  |  | 391,667 |  |  |  | 301,658 |  |  |  | 149,652 |  |  |  | 109,159 |  |  |  | — |  |  |  | 68,515 |  |  |  | — |  |  |  | 1,915,396 |
Securities at FVTPL |  |  | 34,194,979 |  |  |  | 3,634,273 |  |  |  | 1,286,997 |  |  |  | 2,149,229 |  |  |  | 304,020 |  |  |  | 136,364 |  |  |  | 25,428,259 |  |  |  | — |  |  |  | 67,134,121 |
Derivative assets |  |  | 8,305,868 |  |  |  | 1,263,951 |  |  |  | 26,101 |  |  |  | 39,698 |  |  |  | 6,003 |  |  |  | 1,616 |  |  |  | 634,051 |  |  |  | 1,969 |  |  |  | 10,279,257 |
Securities at FVOCI |  |  | 35,854,914 |  |  |  | 2,636,678 |  |  |  | 712,936 |  |  |  | 1,790,042 |  |  |  | 1,056,603 |  |  |  | 12,160 |  |  |  | 49,952,877 |  |  |  | — |  |  |  | 92,016,210 |
Securities at amortized cost |  |  | 9,761,249 |  |  |  | 19,984 |  |  |  | — |  |  |  | 539,416 |  |  |  | 260,379 |  |  |  | — |  |  |  | 22,734,971 |  |  |  | — |  |  |  | 33,315,999 |
|  |  | 152,116,226 |  |  |  | 70,470,804 |  |  |  | 26,064,007 |  |  |  | 51,842,977 |  |  |  | 7,197,010 |  |  |  | 6,906,269 |  |  |  | 152,081,489 |  |  |  | 225,506,189 |  |  |  | 692,184,971 |
Off-balance sheet items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guarantees |  |  | 3,733,957 |  |  |  | 11,712,348 |  |  |  | 3,548,909 |  |  |  | 92,172 |  |  |  | 179,255 |  |  |  | 115,827 |  |  |  | 3,113,748 |  |  |  | 12,979 |  |  |  | 22,509,195 |
Loan commitments and other liabilities related to credit |  |  | 18,218,204 |  |  |  | 34,199,306 |  |  |  | 10,324,128 |  |  |  | 4,325,044 |  |  |  | 2,408,759 |  |  |  | 531,832 |  |  |  | 20,644,317 |  |  |  | 128,329,204 |  |  |  | 218,980,794 |
|  | W | 21,952,161 |  |  |  | 45,911,654 |  |  |  | 13,873,037 |  |  |  | 4,417,216 |  |  |  | 2,588,014 |  |  |  | 647,659 |  |  |  | 23,758,065 |  |  |  | 128,342,183 |  |  |  | 241,489,989 |
|  | 2025 |
Classification (*) |  | Finance and insurance |  |  | Manufacturing |  |  | Retail and wholesale |  |  | Real estate and business |  |  | Construction service |  |  | Lodging and Restaurant |  |  | Other |  |  | Retail customers |  |  | Total |
Due from banks and loans at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banks |  | W | 12,359,288 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 299,421 |  |  |  | — |  |  |  | 12,658,709 |
Retail |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 208,308,298 |  |  |  | 208,308,298 |
Government/Public sector/Central bank |  |  | 26,140,603 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 276,729 |  |  |  | — |  |  |  | 26,417,332 |
Corporations |  |  | 22,523,203 |  |  |  | 63,353,165 |  |  |  | 23,759,226 |  |  |  | 47,411,346 |  |  |  | 5,764,311 |  |  |  | 7,205,522 |  |  |  | 56,537,352 |  |  |  | — |  |  |  | 226,554,125 |
Card receivable |  |  | 78,300 |  |  |  | 330,944 |  |  |  | 274,289 |  |  |  | 75,757 |  |  |  | 48,900 |  |  |  | 28,196 |  |  |  | 1,329,882 |  |  |  | 25,528,775 |  |  |  | 27,695,043 |
|  |  | 61,101,394 |  |  |  | 63,684,109 |  |  |  | 24,033,515 |  |  |  | 47,487,103 |  |  |  | 5,813,211 |  |  |  | 7,233,718 |  |  |  | 58,443,384 |  |  |  | 233,837,073 |  |  |  | 501,633,507 |
Due from banks and loans at FVTPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banks |  |  | 40,862 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 99,327 |  |  |  | — |  |  |  | 29,783 |  |  |  | — |  |  |  | 169,972 |
Corporations |  |  | 575,478 |  |  |  | 399,668 |  |  |  | 3,004 |  |  |  | 156,286 |  |  |  | — |  |  |  | — |  |  |  | 151,708 |  |  |  | — |  |  |  | 1,286,144 |
|  |  | 616,340 |  |  |  | 399,668 |  |  |  | 3,004 |  |  |  | 156,286 |  |  |  | 99,327 |  |  |  | — |  |  |  | 181,491 |  |  |  | — |  |  |  | 1,456,116 |
Securities at FVTPL |  |  | 35,054,770 |  |  |  | 3,090,284 |  |  |  | 1,399,374 |  |  |  | 3,087,667 |  |  |  | 242,695 |  |  |  | 29,279 |  |  |  | 28,823,791 |  |  |  | — |  |  |  | 71,727,860 |
Derivative assets |  |  | 6,068,491 |  |  |  | 829,304 |  |  |  | 13,573 |  |  |  | 19,948 |  |  |  | 2,272 |  |  |  | 329 |  |  |  | 219,516 |  |  |  | 517 |  |  |  | 7,153,950 |
Securities at FVOCI |  |  | 45,699,181 |  |  |  | 2,242,382 |  |  |  | 465,133 |  |  |  | 1,733,913 |  |  |  | 749,831 |  |  |  | 22,340 |  |  |  | 50,370,126 |  |  |  | — |  |  |  | 101,282,906 |
Securities at amortized cost |  |  | 7,108,253 |  |  |  | 9,985 |  |  |  | — |  |  |  | 843,938 |  |  |  | 280,851 |  |  |  | — |  |  |  | 23,701,341 |  |  |  | — |  |  |  | 31,944,368 |
|  |  | 155,648,429 |  |  |  | 70,255,732 |  |  |  | 25,914,599 |  |  |  | 53,328,855 |  |  |  | 7,188,187 |  |  |  | 7,285,666 |  |  |  | 161,739,649 |  |  |  | 233,837,590 |  |  |  | 715,198,707 |
Off-balance sheet items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guarantees |  |  | 5,659,966 |  |  |  | 12,554,311 |  |  |  | 3,633,251 |  |  |  | 290,565 |  |  |  | 214,178 |  |  |  | 60,372 |  |  |  | 3,808,447 |  |  |  | 878 |  |  |  | 26,221,968 |
Loan commitments and other liabilities related to credit |  |  | 18,227,705 |  |  |  | 31,211,151 |  |  |  | 10,863,979 |  |  |  | 6,914,971 |  |  |  | 2,269,120 |  |  |  | 444,003 |  |  |  | 20,103,475 |  |  |  | 130,282,649 |  |  |  | 220,317,053 |
|  | W | 23,887,671 |  |  |  | 43,765,462 |  |  |  | 14,497,230 |  |  |  | 7,205,536 |  |  |  | 2,483,298 |  |  |  | 504,375 |  |  |  | 23,911,922 |  |  |  | 130,283,527 |  |  |  | 246,539,021 |
(*) | The amounts by industry sector are presented as the net carrying amount after deducting allowances for loan losses.
Market risk management from trading positions | The Group’s market risk regulatory capital for trading positions under the Basel III revised standardized approach as of December 31, 2024 and 2025 is as follows:
|  | 2024 |  |  | 2025 |
Sensitivity risk |  |  |  |  |  |  |  |
GIRR (*1) |  | W | 257,705 |  |  |  | 219,512 |
CSR-Non-Securitized (*2) |  |  | 565,017 |  |  |  | 465,046 |
CSR-Securitized (Non-CTP) |  |  | 91,048 |  |  |  | 56,804 |
CSR-Non-Securitized (CTP) |  |  | 508 |  |  |  | 141 |
Stock |  |  | 210,850 |  |  |  | 92,207 |
Foreign (*3) |  |  | 389,673 |  |  |  | 435,255 |
Commodity |  |  | 2,829 |  |  |  | 4,293 |
|  |  | 1,517,630 |  |  |  | 1,273,258 |
Default risk |  |  |  |  |  |  |  |
Non-Securitized |  |  | — |  |  |  | 186,037 |
Securitized (Excluding CTP) |  |  | 121,146 |  |  |  | 103,363 |
Securitized (CTP) |  |  | 596 |  |  |  | 251 |
|  |  | 121,742 |  |  |  | 289,651 |
Residual risk |  |  | 9,547 |  |  |  | 8,508 |
|  | W | 1,648,919 |  |  |  | 1,571,417 |
| (*1) | GIRR (General Interest Rate Risk): General interest rate risk, a concept that measures the risk of loss due to changes in the risk-free interest rate. In general, if the maturity is long and the value changes fluctuates a lot due to interest rate changes, the risk value is calculated to be large.
| (*2) | CSR (Credit Spread Risk): Credit spread risk, a concept that measures the risk of value fluctuations as credit spreads fluctuate independently of the risk-free interest rate for products with inherent credit risk.
| (*3) | Calculated by excluding structural foreign exchange positions approved by the Governor of the Financial Supervisory Service.
i-3) Shinhan Bank Shinhan Bank’s market risk regulatory capital for trading positions under the Basel III revised standardized approach as of December 31, 2024 and 2025 is as follows:
|  | 2024 |  |  | 2025 |
Sensitivity risk |  |  |  |  |  |  |  |
GIRR (*1) |  | W | 116,501 |  |  |  | 126,382 |
CSR-Non-Securitized (*2) |  |  | 129,603 |  |  |  | 148,185 |
CSR-Securitized (Non-CTP) (*3) |  |  | 27,930 |  |  |  | 25,290 |
Stock |  |  | 28,582 |  |  |  | 25,676 |
Foreign (*4) |  |  | 368,999 |  |  |  | 454,808 |
Commodity |  |  | 199 |  |  |  | 287 |
|  |  | 671,814 |  |  |  | 780,628 |
Default risk |  |  |  |  |  |  |  |
Non-Securitized |  |  | 98,699 |  |  |  | 111,847 |
Securitized (Excluding CTP) |  |  | 60,866 |  |  |  | 58,280 |
|  |  | 159,565 |  |  |  | 170,127 |
Residual risk |  |  | 2,984 |  |  |  | 4,576 |
|  | W | 834,363 |  |  |  | 955,331 |
| (*1) | GIRR: General Interest Rate Risk
| (*2) | CSR: Credit Spread Risk
| (*3) | CTP: Correlation Trading Portfolio
| (*4) | Calculated by excluding structural foreign exchange positions approved by the Governor of the Financial Supervisory Service.
i-4) Shinhan Card Co., Ltd. Shinhan Card Co., Ltd.’s market risk regulatory capital for trading positions as of December 31, 2024 and 2025 under the standardized approach prescribed by the Financial Supervisory Service is as follows:
|  | 2024 |  |  | 2025 |
Interest rate risk (*) |  | W | 2,551 |  |  |  | 2,700 |
| (*) | Foreign subsidiaries are excluded from the calculation.
i-5) Shinhan Securities Co., Ltd. The VaR of Shinhan Securities Co., Ltd.’s trading positions as of December 31, 2024 and 2025 is as follows:
|  | 2024 |  |  | 2025 |
Interest rate risk |  | W | 15,662 |  |  |  | 14,058 |
Stock price risk |  |  | 14,321 |  |  |  | 33,180 |
Foreign exchange risk |  |  | 30,310 |  |  |  | 23,847 |
Option volatility risk |  |  | 42,703 |  |  |  | 9,381 |
Portfolio diversification effect |  |  | (41,549 | ) |  |  | (36,966 | )
|  | W | 61,447 |  |  |  | 43,500 |
i-6) Shinhan Life Insurance Co., Ltd. The VaR of Shinhan Life Insurance Co., Ltd.’s trading positions as of December 31, 2024 and 2025 is as follows:
|  | 2024 |  |  | 2025 |
Interest rate risk |  | W | 683 |  |  |  | 145 |
Stock price risk |  |  | 11,523 |  |  |  | 17,365 |
Foreign exchange risk |  |  | 55,467 |  |  |  | 69,913 |
Option volatility risk |  |  | 559 |  |  |  | 128 |
|  | W | 68,232 |  |  |  | 87,551 |
| (*) | The market risk exposure for performance dividend-type assets held is W 4,956,743 million and W 5,687,547 million as of December 31, 2024 and 2025 , respectively, and the minimum guaranteed risk amount that could result in an impact on the Group calculated using the internal shock scenario method as of the end of the reporting period is W 280,577 million and W 264,326 million as of December 31, 2024 and 2025 , respectively.
Interest rate risk management from non-trading positions | ii-3) The details of interest rate VaR and EaR for major subsidiaries as of December 31, 2024 and 2025 are as follows: ① Shinhan Bank
|  | 2024 |  |  | 2025 |
ΔEVE (*1) |  | W | 1,508,514 |  |  |  | 1,399,226 |
ΔNII (*2) |  |  | 406,207 |  |  |  | 255,874 |
② Shinhan Card Co., Ltd.
|  | 2024 |  |  | 2025 |
ΔEVE (*1) |  | W | 990,898 |  |  |  | 824,951 |
ΔNII (*2) |  |  | 600,681 |  |  |  | 587,147 |
③ Shinhan Securities Co., Ltd.
|  | 2024 |  |  | 2025 |
ΔEVE (*1) |  | W | 252,625 |  |  |  | 202,411 |
ΔNII (*2) |  |  | 418,741 |  |  |  | 280,082 |
④ Shinhan Life Insurance Co., Ltd.
|  | 2024 |  |  | 2025 |
ΔEVE (*1) |  | W | 3,848,473 |  |  |  | 2,847,851 |
ΔNII (*2) |  |  | 44,525 |  |  |  | 30,124 |
| (*1) | ΔEVE is the change in economic value of equity capital that can arise from changes in interest rates that affect the present value of assets, liabilities and off-balance sheet items by using the Basel III standard based IRRBB method.
| (*2) | ΔNII is the change in net interest income that can occur over the next year due to changes in interest rates by using the Basel III standard based IRRBB method.
Foreign currency denominated assets and liabilities | Foreign currency denominated assets and liabilities as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
|  | USD |  |  | JPY |  |  | EUR |  |  | CNY |  |  | Other |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks at amortized cost |  | W | 12,337,661 |  |  |  | 2,952,548 |  |  |  | 263,878 |  |  |  | 731,304 |  |  |  | 5,387,372 |  |  |  | 21,672,763 |
Due from banks at FVTPL |  |  | 35,450 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35,450 |
Loans at FVTPL |  |  | 275,434 |  |  |  | — |  |  |  | 28,229 |  |  |  | — |  |  |  | 19,899 |  |  |  | 323,562 |
Loan at amortized cost |  |  | 25,948,190 |  |  |  | 13,073,162 |  |  |  | 1,832,150 |  |  |  | 4,873,899 |  |  |  | 15,186,486 |  |  |  | 60,913,887 |
Securities at FVTPL |  |  | 6,687,351 |  |  |  | 133,864 |  |  |  | 852,382 |  |  |  | 4,124 |  |  |  | 726,565 |  |  |  | 8,404,286 |
Derivative assets |  |  | 1,568,025 |  |  |  | 4,578 |  |  |  | 232,197 |  |  |  | 1,987 |  |  |  | 98,297 |  |  |  | 1,905,084 |
Securities at FVOCI |  |  | 10,334,842 |  |  |  | 171,177 |  |  |  | 521,289 |  |  |  | 681,404 |  |  |  | 2,536,312 |  |  |  | 14,245,024 |
Securities at amortized cost |  |  | 340,153 |  |  |  | 500,269 |  |  |  | — |  |  |  | 117,008 |  |  |  | 1,381,765 |  |  |  | 2,339,195 |
Other financial assets |  |  | 5,471,934 |  |  |  | 1,264,209 |  |  |  | 197,766 |  |  |  | 355,004 |  |  |  | 830,886 |  |  |  | 8,119,799 |
|  | W | 62,999,040 |  |  |  | 18,099,807 |  |  |  | 3,927,891 |  |  |  | 6,764,730 |  |  |  | 26,167,582 |  |  |  | 117,959,050 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | W | 28,517,193 |  |  |  | 15,642,126 |  |  |  | 1,194,240 |  |  |  | 5,245,526 |  |  |  | 15,132,335 |  |  |  | 65,731,420 |
Financial liabilities at FVTPL |  |  | 3,117 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 597,058 |  |  |  | 600,175 |
Derivative liabilities |  |  | 1,513,732 |  |  |  | 5,297 |  |  |  | 50,101 |  |  |  | 1,964 |  |  |  | 55,052 |  |  |  | 1,626,146 |
Borrowings |  |  | 9,498,518 |  |  |  | 1,446,603 |  |  |  | 280,140 |  |  |  | 544 |  |  |  | 1,485,415 |  |  |  | 12,711,220 |
Debt securities issued |  |  | 15,926,430 |  |  |  | 168,566 |  |  |  | 764,365 |  |  |  | — |  |  |  | 1,865,788 |  |  |  | 18,725,149 |
Financial liabilities designated at FVTPL |  |  | 804,324 |  |  |  | 313 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 804,637 |
Other financial liabilities |  |  | 6,432,533 |  |  |  | 936,178 |  |  |  | 229,063 |  |  |  | 652,514 |  |  |  | 1,061,947 |  |  |  | 9,312,235 |
|  | W | 62,695,847 |  |  |  | 18,199,083 |  |  |  | 2,517,909 |  |  |  | 5,900,548 |  |  |  | 20,197,595 |  |  |  | 109,510,982 |
Net domestic and foreign currency exposure |  | W | 303,193 |  |  |  | (99,276 | ) |  |  | 1,409,982 |  |  |  | 864,182 |  |  |  | 5,969,987 |  |  |  | 8,448,068 |
Off-balance derivative exposure |  |  | 2,433,296 |  |  |  | 1,085,962 |  |  |  | (397,997 | ) |  |  | (379,652 | ) |  |  | (1,555,122 | ) |  |  | 1,186,487 |
Net foreign currency exposure |  | W | 2,736,489 |  |  |  | 986,686 |  |  |  | 1,011,985 |  |  |  | 484,530 |  |  |  | 4,414,865 |  |  |  | 9,634,555 |
|  | 2025 |
|  | USD |  |  | JPY |  |  | EUR |  |  | CNY |  |  | Other |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks at amortized cost |  | W | 14,268,193 |  |  |  | 3,024,755 |  |  |  | 193,635 |  |  |  | 615,220 |  |  |  | 5,969,361 |  |  |  | 24,071,164 |
Due from banks at FVTPL |  |  | 40,862 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 40,862 |
Loans at FVTPL |  |  | 108,450 |  |  |  | — |  |  |  | 9,635 |  |  |  | — |  |  |  | 4,133 |  |  |  | 122,218 |
Loan at amortized cost |  |  | 25,860,570 |  |  |  | 14,457,433 |  |  |  | 2,117,346 |  |  |  | 4,891,534 |  |  |  | 16,981,548 |  |  |  | 64,308,431 |
Securities at FVTPL |  |  | 8,324,763 |  |  |  | 137,035 |  |  |  | 1,012,815 |  |  |  | 2,750 |  |  |  | 1,251,785 |  |  |  | 10,729,148 |
Derivative assets |  |  | 815,479 |  |  |  | 2,217 |  |  |  | 304,637 |  |  |  | 881 |  |  |  | 84,524 |  |  |  | 1,207,738 |
Securities at FVOCI |  |  | 13,004,888 |  |  |  | 312,632 |  |  |  | 944,285 |  |  |  | 743,545 |  |  |  | 3,314,109 |  |  |  | 18,319,459 |
Securities at amortized cost |  |  | 368,841 |  |  |  | 432,333 |  |  |  | — |  |  |  | 96,420 |  |  |  | 1,140,009 |  |  |  | 2,037,603 |
Other financial assets |  |  | 9,806,303 |  |  |  | 2,707,262 |  |  |  | 1,785,518 |  |  |  | 201,174 |  |  |  | 1,736,885 |  |  |  | 16,237,142 |
|  | W | 72,598,349 |  |  |  | 21,073,667 |  |  |  | 6,367,871 |  |  |  | 6,551,524 |  |  |  | 30,482,354 |  |  |  | 137,073,765 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | W | 31,663,691 |  |  |  | 18,053,711 |  |  |  | 2,208,668 |  |  |  | 4,903,374 |  |  |  | 17,057,680 |  |  |  | 73,887,124 |
Financial liabilities at FVTPL |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,522,071 |  |  |  | 1,522,071 |
Derivative liabilities |  |  | 641,622 |  |  |  | 5,000 |  |  |  | 145,204 |  |  |  | 1,077 |  |  |  | 74,334 |  |  |  | 867,237 |
Borrowings |  |  | 11,990,792 |  |  |  | 1,253,386 |  |  |  | 459,326 |  |  |  | 6,388 |  |  |  | 2,240,724 |  |  |  | 15,950,616 |
Debt securities issued |  |  | 13,715,798 |  |  |  | 426,698 |  |  |  | 1,985,414 |  |  |  | — |  |  |  | 1,983,450 |  |  |  | 18,111,360 |
Financial liabilities designated at FVTPL |  |  | 790,960 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 790,960 |
Other financial liabilities |  |  | 11,593,718 |  |  |  | 861,743 |  |  |  | 911,334 |  |  |  | 786,180 |  |  |  | 1,805,791 |  |  |  | 15,958,766 |
|  | W | 70,396,581 |  |  |  | 20,600,538 |  |  |  | 5,709,946 |  |  |  | 5,697,019 |  |  |  | 24,684,050 |  |  |  | 127,088,134 |
Net domestic and foreign currency exposure |  | W | 2,201,768 |  |  |  | 473,129 |  |  |  | 657,925 |  |  |  | 854,505 |  |  |  | 5,798,304 |  |  |  | 9,985,631 |
Off-balance derivative exposure |  |  | 2,736,104 |  |  |  | 425,121 |  |  |  | 275,984 |  |  |  | (1,783 | ) |  |  | (2,754,376 | ) |  |  | 681,050 |
Net foreign currency exposure |  | W | 4,937,872 |  |  |  | 898,250 |  |  |  | 933,909 |  |  |  | 852,722 |  |  |  | 3,043,928 |  |  |  | 10,666,681 |
Composition of non-derivative financial instruments and derivative financial instruments by remaining period | The details of the composition of non-derivative financial instruments and derivative financial instruments by remaining period as of December 31, 2024 and 2025 are as follows:
|  | 2024 (*1) |
|  | Less than 1 month |  |  | 1~3 months |  |  | 3~6 months |  |  | 6 months ~ 1 year |  |  | 1~5 years |  |  | More than 5 years |  |  | Total |
Non-derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks at amortized cost |  | W | 36,069,005 |  |  |  | 678,029 |  |  |  | 293,900 |  |  |  | 290,070 |  |  |  | 295,757 |  |  |  | 3,107,597 |  |  |  | 40,734,358 |
Due from banks at FVTPL |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35,450 |  |  |  | 35,450 |
Loans at FVTPL |  |  | 275,263 |  |  |  | 531,544 |  |  |  | 136,762 |  |  |  | 95 |  |  |  | 660,244 |  |  |  | 276,599 |  |  |  | 1,880,507 |
Loans at amortized cost |  |  | 37,868,875 |  |  |  | 54,775,441 |  |  |  | 69,211,593 |  |  |  | 99,131,674 |  |  |  | 145,027,757 |  |  |  | 123,300,327 |  |  |  | 529,315,667 |
Securities at FVTPL |  |  | 41,515,377 |  |  |  | 1,066,771 |  |  |  | 473,077 |  |  |  | 894,621 |  |  |  | 8,851,339 |  |  |  | 20,043,058 |  |  |  | 72,844,243 |
Securities at FVOCI |  |  | 45,714,502 |  |  |  | 997,618 |  |  |  | 825,089 |  |  |  | 2,680,515 |  |  |  | 10,809,850 |  |  |  | 32,861,952 |  |  |  | 93,889,526 |
Securities at amortized cost |  |  | 878,077 |  |  |  | 3,117,274 |  |  |  | 3,152,468 |  |  |  | 3,236,438 |  |  |  | 20,604,654 |  |  |  | 5,540,522 |  |  |  | 36,529,433 |
Other financial assets |  |  | 18,550,324 |  |  |  | 58,298 |  |  |  | 59,159 |  |  |  | 631,667 |  |  |  | 599,959 |  |  |  | 1,975,249 |  |  |  | 21,874,656 |
|  | W | 180,871,423 |  |  |  | 61,224,975 |  |  |  | 74,152,048 |  |  |  | 106,865,080 |  |  |  | 186,849,560 |  |  |  | 187,140,754 |  |  |  | 797,103,840 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits (*2) |  | W | 217,170,450 |  |  |  | 49,309,656 |  |  |  | 56,540,309 |  |  |  | 77,227,315 |  |  |  | 30,221,968 |  |  |  | 1,261,816 |  |  |  | 431,731,514 |
Financial liabilities at FVTPL |  |  | 954,899 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 954,899 |
Borrowings |  |  | 12,862,532 |  |  |  | 4,757,090 |  |  |  | 6,901,957 |  |  |  | 9,990,468 |  |  |  | 11,464,431 |  |  |  | 4,896,426 |  |  |  | 50,872,904 |
Debt securities issued |  |  | 4,859,511 |  |  |  | 8,927,081 |  |  |  | 9,122,810 |  |  |  | 17,273,392 |  |  |  | 56,429,636 |  |  |  | 4,046,575 |  |  |  | 100,659,005 |
Financial liabilities designated at FVTPL |  |  | 439,367 |  |  |  | 861,277 |  |  |  | 991,871 |  |  |  | 1,963,789 |  |  |  | 2,473,275 |  |  |  | 1,513,662 |  |  |  | 8,243,241 |
Investment contract liabilities |  |  | 106,106 |  |  |  | 105,788 |  |  |  | 248,954 |  |  |  | 375,300 |  |  |  | 328,874 |  |  |  | — |  |  |  | 1,165,022 |
Other financial liabilities |  |  | 32,314,670 |  |  |  | 174,388 |  |  |  | 257,115 |  |  |  | 587,834 |  |  |  | 1,351,145 |  |  |  | 140,254 |  |  |  | 34,825,406 |
|  | W | 268,707,535 |  |  |  | 64,135,280 |  |  |  | 74,063,016 |  |  |  | 107,418,098 |  |  |  | 102,269,329 |  |  |  | 11,858,733 |  |  |  | 628,451,991 |
Off-balance sheet items (*3): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guarantee contracts |  | W | 22,509,195 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 22,509,195 |
Other liabilities related to loan commitments |  |  | 218,980,794 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 218,980,794 |
|  | W | 241,489,989 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 241,489,989 |
Derivatives |  | W | 453,751 |  |  |  | (12,670 | ) |  |  | (68,634 | ) |  |  | 6,511 |  |  |  | (1,847,862 | ) |  |  | (165,170 | ) |  |  | (1,634,074 | )
|  | 2025 (*1) |
|  | Less than 1 month |  |  | 1~3 months |  |  | 3~6 months |  |  | 6 months ~ 1 year |  |  | 1~5 years |  |  | More than 5 years |  |  | Total |
Non-derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks at amortized cost |  | W | 37,051,022 |  |  |  | 746,364 |  |  |  | 68,711 |  |  |  | 19,990 |  |  |  | 264,095 |  |  |  | 1,842,716 |  |  |  | 39,992,898 |
Due from banks at FVTPL |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 40,862 |  |  |  | 40,862 |
Loans at FVTPL |  |  | 84,231 |  |  |  | 419,312 |  |  |  | 83 |  |  |  | 81,094 |  |  |  | 708,906 |  |  |  | 126,359 |  |  |  | 1,419,985 |
Loans at amortized cost |  |  | 37,915,506 |  |  |  | 55,304,875 |  |  |  | 66,984,277 |  |  |  | 103,607,758 |  |  |  | 149,981,848 |  |  |  | 135,798,359 |  |  |  | 549,592,623 |
Securities at FVTPL |  |  | 51,192,910 |  |  |  | 1,363,382 |  |  |  | 748,568 |  |  |  | 1,297,385 |  |  |  | 8,919,975 |  |  |  | 13,075,043 |  |  |  | 76,597,263 |
Securities at FVOCI |  |  | 54,888,016 |  |  |  | 1,564,045 |  |  |  | 551,147 |  |  |  | 1,592,027 |  |  |  | 13,096,314 |  |  |  | 31,737,573 |  |  |  | 103,429,122 |
Securities at amortized cost |  |  | 660,221 |  |  |  | 3,086,876 |  |  |  | 1,288,192 |  |  |  | 2,902,604 |  |  |  | 21,330,649 |  |  |  | 5,785,213 |  |  |  | 35,053,755 |
Other financial assets |  |  | 38,973,471 |  |  |  | 96,390 |  |  |  | 68,338 |  |  |  | 355,372 |  |  |  | 510,306 |  |  |  | 2,044,911 |  |  |  | 42,048,788 |
|  | W | 220,765,377 |  |  |  | 62,581,244 |  |  |  | 69,709,316 |  |  |  | 109,856,230 |  |  |  | 194,812,093 |  |  |  | 190,451,036 |  |  |  | 848,175,296 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits (*2) |  | W | 231,520,722 |  |  |  | 54,103,105 |  |  |  | 54,526,232 |  |  |  | 84,041,299 |  |  |  | 30,677,571 |  |  |  | 2,274,736 |  |  |  | 457,143,665 |
Financial liabilities at FVTPL |  |  | 2,212,215 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 100,272 |  |  |  | 2,312,487 |
Borrowings |  |  | 16,797,623 |  |  |  | 6,963,957 |  |  |  | 6,221,726 |  |  |  | 8,478,193 |  |  |  | 11,924,157 |  |  |  | 6,074,035 |  |  |  | 56,459,691 |
Debt securities issued |  |  | 6,230,564 |  |  |  | 8,486,174 |  |  |  | 9,202,855 |  |  |  | 15,052,890 |  |  |  | 56,411,740 |  |  |  | 3,889,537 |  |  |  | 99,273,760 |
Financial liabilities designated at FVTPL |  |  | 399,298 |  |  |  | 977,019 |  |  |  | 854,498 |  |  |  | 1,180,049 |  |  |  | 1,423,212 |  |  |  | 1,586,327 |  |  |  | 6,420,403 |
Investment contract liabilities |  |  | 189,704 |  |  |  | 10,554 |  |  |  | 91,041 |  |  |  | 159,182 |  |  |  | 1,085,912 |  |  |  | — |  |  |  | 1,536,393 |
Other financial liabilities |  |  | 51,214,836 |  |  |  | 162,838 |  |  |  | 74,360 |  |  |  | 602,583 |  |  |  | 1,318,935 |  |  |  | 225,282 |  |  |  | 53,598,834 |
|  | W | 308,564,962 |  |  |  | 70,703,647 |  |  |  | 70,970,712 |  |  |  | 109,514,196 |  |  |  | 102,841,527 |  |  |  | 14,150,189 |  |  |  | 676,745,233 |
Off-balance sheet items (*3): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Guarantee contracts |  | W | 26,221,968 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 26,221,968 |
Other liabilities related to loan commitments |  |  | 220,317,053 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 220,317,053 |
|  | W | 246,539,021 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 246,539,021 |
Derivatives |  | W | 771,588 |  |  |  | (810,792 | ) |  |  | (29,804 | ) |  |  | (93,500 | ) |  |  | (2,117,259 | ) |  |  | (76,279 | ) |  |  | (2,356,046 | )
(*1) | These amounts include cash flows of principal and interest on financial assets and financial liabilities.
(*2) | Demand deposits amounting to W 160,031,760 million and W 172,840,771 million as of December 31, 2024 and 2025 are included in the ‘Less than 1 month’ category, respectively.
(*3) | Although guarantees, loan agreements, and other credit commitments provided by the Group have contractual maturities, they are classified into the earliest time bucket, as the Group is required to make payments immediately upon request by the counterparty.
The fair value hierarchy of financial instruments presented at their fair values in the statements of financial position | i) Financial instruments measured at fair value
| i-1) | The fair value hierarchy of financial instruments presented at their fair values in the statements of financial position as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 (*3) |  |  | Total |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Due from banks at FVTPL |  | W | — |  |  |  | 35,450 |  |  |  | — |  |  |  | 35,450 |
Loans at FVTPL (*1) |  |  | — |  |  |  | 745,412 |  |  |  | 1,134,534 |  |  |  | 1,879,946 |
Securities at FVTPL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities and other securities (*2) |  |  | 11,870,768 |  |  |  | 39,052,189 |  |  |  | 16,082,867 |  |  |  | 67,005,824 |
Equity securities |  |  | 1,618,125 |  |  |  | 64,277 |  |  |  | 1,414,926 |  |  |  | 3,097,328 |
Gold/silver deposits |  |  | 128,297 |  |  |  | — |  |  |  | — |  |  |  | 128,297 |
|  |  | 13,617,190 |  |  |  | 39,116,466 |  |  |  | 17,497,793 |  |  |  | 70,231,449 |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trading |  |  | 85,439 |  |  |  | 8,772,280 |  |  |  | 719,177 |  |  |  | 9,576,896 |
Hedging |  |  | — |  |  |  | 702,361 |  |  |  | — |  |  |  | 702,361 |
|  |  | 85,439 |  |  |  | 9,474,641 |  |  |  | 719,177 |  |  |  | 10,279,257 |
Securities at FVOCI: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities |  |  | 35,984,894 |  |  |  | 56,031,316 |  |  |  | — |  |  |  | 92,016,210 |
Equity securities |  |  | 866,968 |  |  |  | — |  |  |  | 922,191 |  |  |  | 1,789,159 |
|  |  | 36,851,862 |  |  |  | 56,031,316 |  |  |  | 922,191 |  |  |  | 93,805,369 |
|  | W | 50,554,491 |  |  |  | 105,403,285 |  |  |  | 20,273,695 |  |  |  | 176,231,471 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial liabilities at FVTPL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold (*2) |  | W | 357,841 |  |  |  | — |  |  |  | — |  |  |  | 357,841 |
Gold/silver deposits |  |  | 597,058 |  |  |  | — |  |  |  | — |  |  |  | 597,058 |
|  |  | 954,899 |  |  |  | — |  |  |  | — |  |  |  | 954,899 |
Financial liabilities designated at FVTPL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives-combined securities (*2) |  |  | — |  |  |  | 819,919 |  |  |  | 7,139,257 |  |  |  | 7,959,176 |
Debt securities issued |  |  | — |  |  |  | 261,299 |  |  |  | — |  |  |  | 261,299 |
|  |  | — |  |  |  | 1,081,218 |  |  |  | 7,139,257 |  |  |  | 8,220,475 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trading |  |  | 22,721 |  |  |  | 8,476,885 |  |  |  | 536,855 |  |  |  | 9,036,461 |
Hedging |  |  | — |  |  |  | 814,374 |  |  |  | 207,697 |  |  |  | 1,022,071 |
|  |  | 22,721 |  |  |  | 9,291,259 |  |  |  | 744,552 |  |  |  | 10,058,532 |
|  | W | 977,620 |  |  |  | 10,372,477 |  |  |  | 7,883,809 |  |  |  | 19,233,906 |
(*1) | Of the Financial assets at FVTPL invested by the Group, P-note’s valuation of amount related to Lime Asset Management is W 40.8 billion. As of December 31, 2024, in this regard, international disputes are under
| way, the Group has estimated its fair value based on financial information within the recent audit report of underlying assets since it doesn’t have fair market value observable through active trading markets. Accounting estimates and assumptions used in preparing consolidated financial statements may lead to adjustment in response to changes in uncertainty, such as information and market conditions available in the future. In addition, the ultimate impact on the business, financial condition, performance, and liquidity of the Group is unpredictable.
(*2) | Financial instruments (Beneficiary certificates: W 175 billion and derivatives-combined securities: W 175 billion) related to GEN2 Partners asset management were delayed in repurchase for the year ended December 31, 2020. The Group estimated fair value using the net asset value based on the most recent data available for the repurchase suspension fund. Since then, it has an uncertainty in measuring fair value due to market conditions.
(*3) | Shinhan Securities Co., Ltd.’s level 3 over-the-counter derivatives are recognized W 86,279 million in financial assets measured at fair value through profit or loss, W 7,146,909 million in financial liabilities designated at fair value through profit or loss, W 718,788 million in derivative assets, and W 535,162 million in derivative liabilities. The fair value of over-the-counter derivatives classified as level 3 above is measured using Shinhan Securities Co., Ltd.’s internal valuation model .
|  | 2025 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 (*3) |  |  | Total |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Due from banks at FVTPL |  | W | — |  |  |  | 40,862 |  |  |  | — |  |  |  | 40,862 |
Loans at FVTPL (*1) |  |  | — |  |  |  | 506,781 |  |  |  | 908,473 |  |  |  | 1,415,254 |
Securities at FVTPL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities and other securities (*2) |  |  | 12,198,754 |  |  |  | 41,464,110 |  |  |  | 17,441,328 |  |  |  | 71,104,192 |
Equity securities |  |  | 2,900,162 |  |  |  | 461,978 |  |  |  | 1,507,261 |  |  |  | 4,869,401 |
Gold/silver deposits |  |  | 623,668 |  |  |  | — |  |  |  | — |  |  |  | 623,668 |
|  |  | 15,722,584 |  |  |  | 41,926,088 |  |  |  | 18,948,589 |  |  |  | 76,597,261 |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trading |  |  | 63,896 |  |  |  | 5,876,734 |  |  |  | 596,229 |  |  |  | 6,536,859 |
Hedging |  |  | — |  |  |  | 617,091 |  |  |  | — |  |  |  | 617,091 |
|  |  | 63,896 |  |  |  | 6,493,825 |  |  |  | 596,229 |  |  |  | 7,153,950 |
Securities at FVOCI: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities |  |  | 37,077,188 |  |  |  | 64,196,579 |  |  |  | 9,139 |  |  |  | 101,282,906 |
Equity securities |  |  | 998,372 |  |  |  | — |  |  |  | 935,672 |  |  |  | 1,934,044 |
|  |  | 38,075,560 |  |  |  | 64,196,579 |  |  |  | 944,811 |  |  |  | 103,216,950 |
|  | W | 53,862,040 |  |  |  | 113,164,135 |  |  |  | 21,398,102 |  |  |  | 188,424,277 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial liabilities at FVTPL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold (*2) |  | W | 790,416 |  |  |  | — |  |  |  | — |  |  |  | 790,416 |
Gold/silver deposits |  |  | 1,522,071 |  |  |  | — |  |  |  | — |  |  |  | 1,522,071 |
|  |  | 2,312,487 |  |  |  | — |  |  |  | — |  |  |  | 2,312,487 |
Financial liabilities designated at FVTPL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives-combined securities (*2) |  |  | — |  |  |  | 255,532 |  |  |  | 5,834,683 |  |  |  | 6,090,215 |
Debt securities issued |  |  | — |  |  |  | 287,849 |  |  |  | — |  |  |  | 287,849 |
|  |  | — |  |  |  | 543,381 |  |  |  | 5,834,683 |  |  |  | 6,378,064 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trading |  |  | 38,222 |  |  |  | 5,540,526 |  |  |  | 293,655 |  |  |  | 5,872,403 |
Hedging |  |  | — |  |  |  | 994,626 |  |  |  | 153,817 |  |  |  | 1,148,443 |
|  |  | 38,222 |  |  |  | 6,535,152 |  |  |  | 447,472 |  |  |  | 7,020,846 |
|  | W | 2,350,709 |  |  |  | 7,078,533 |  |  |  | 6,282,155 |  |  |  | 15,711,397 |
(*1) | Of the Financial assets at FVTPL invested by the Group, P-note’s valuation of amount related to Lime Asset Management is W 27.0 billion. As of December 31, 2025, in this regard, international disputes are under way, the Group has estimated its fair value based on financial information within the recent audit report of underlying assets since it doesn’t have fair market value observable through active trading markets.
(*2) | Financial instruments (Beneficiary certificates: W 181.8 billion and derivatives-combined securities: W 181.8 billion) related to GEN2 Partners asset management were delayed in repurchase for the year ended
| December 31, 2020. The Group estimated fair value using the net asset value based on the most recent data available for the repurchase suspension fund. Since then, it has an uncertainty in measuring fair value due to market conditions.
(*3) | Using its internal valuation model, Shinhan Securities Co., Ltd.’s level 3 over-the-counter derivatives are recognized W 47,665 million in financial assets measured at fair value through profit or loss, W 5,834,683 million in financial liabilities designated at fair value through profit or loss, W 146,924 million in derivative assets, and W 284,145 million in derivative liabilities.
Changes in carrying values of financial instruments classified as Level 3 | Changes in carrying amounts of financial instruments classified as Level 3 for the years ended December 31, 2024 and 2025 are as follows:
|  | 2024 |
|  | Financial asset at FVTPL |  |  | Securities at FVOCI |  |  | Financial liabilities designated at FVTPL |  |  | Held for trading |  |  | Held for hedging |
|  | Derivative assets |  |  | Derivative liabilities |  |  | Derivative assets |  |  | Derivative liabilities |
Beginning balance |  | W | 17,327,888 |  |  |  | 949,183 |  |  |  | (6,725,252 | ) |  |  | 632,213 |  |  |  | (783,587 | ) |  |  | — |  |  |  | (224,195 | )
Recognized in total comprehensive income for the year: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recognized in profit or loss for the period (*1) |  |  | 355,895 |  |  |  | — |  |  |  | (74,680 | ) |  |  | 64,091 |  |  |  | (307,946 | ) |  |  | — |  |  |  | 16,498 |
Recognized in other comprehensive income (loss) for the year |  |  | 3,287 |  |  |  | (77,241 | ) |  |  | (8,614 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 359,182 |  |  |  | (77,241 | ) |  |  | (83,294 | ) |  |  | 64,091 |  |  |  | (307,946 | ) |  |  | — |  |  |  | 16,498 |
Purchase |  |  | 7,120,860 |  |  |  | 55,431 |  |  |  | — |  |  |  | 1,318,715 |  |  |  | (11,529 | ) |  |  | — |  |  |  | — |
Issue |  |  | — |  |  |  | — |  |  |  | (7,993,276 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Settlement |  |  | (5,798,938 | ) |  |  | (5,153 | ) |  |  | 7,662,565 |  |  |  | (1,299,773 | ) |  |  | 566,207 |  |  |  | — |  |  |  | — |
Transfer to level 3 (*2) |  |  | 17,407 |  |  |  | — |  |  |  | — |  |  |  | 3,931 |  |  |  | — |  |  |  | — |  |  |  | — |
Transfer out of level 3 (*2) |  |  | (394,072 | ) |  |  | (29 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Ending balance |  | W | 18,632,327 |  |  |  | 922,191 |  |  |  | (7,139,257 | ) |  |  | 719,177 |  |  |  | (536,855 | ) |  |  | — |  |  |  | (207,697 | )
|  | 2025 |
|  | Financial asset at FVTPL |  |  | Securities at FVOCI |  |  | Financial liabilities designated at FVTPL |  |  | Held for trading |  |  | Held for hedging |
|  | Derivative assets |  |  | Derivative liabilities |  |  | Derivative assets |  |  | Derivative liabilities |
Beginning balance |  | W | 18,632,327 |  |  |  | 922,191 |  |  |  | (7,139,257 | ) |  |  | 719,177 |  |  |  | (536,855 | ) |  |  | — |  |  |  | (207,697 | )
Recognized in total comprehensive income for the year: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recognized in profit or loss for the period (*1) |  |  | 8,721 |  |  |  | — |  |  |  | (225,030 | ) |  |  | 95,523 |  |  |  | 155,722 |  |  |  | — |  |  |  | 36,007 |
Recognized in other comprehensive income (loss) for the year |  |  | (531 | ) |  |  | 69,448 |  |  |  | (4,165 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | 8,190 |  |  |  | 69,448 |  |  |  | (229,195 | ) |  |  | 95,523 |  |  |  | 155,722 |  |  |  | — |  |  |  | 36,007 |
Purchase |  |  | 5,875,977 |  |  |  | 6,324 |  |  |  | — |  |  |  | 87,869 |  |  |  | (30,005 | ) |  |  | — |  |  |  | (13,580 | )
Issue |  |  | — |  |  |  | — |  |  |  | (6,407,756 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Settlement |  |  | (4,667,721 | ) |  |  | (62,292 | ) |  |  | 7,941,525 |  |  |  | (306,359 | ) |  |  | 117,483 |  |  |  | — |  |  |  | 31,453 |
Transfer to level 3 (*2) |  |  | 65,173 |  |  |  | 9,140 |  |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | — |  |  |  | — |
Transfer out of level 3 (*2) |  |  | (56,884 | ) |  |  | — |  |  |  | — |  |  |  | (4 | ) |  |  | — |  |  |  | — |  |  |  | — |
Ending balance |  | W | 19,857,062 |  |  |  | 944,811 |  |  |  | (5,834,683 | ) |  |  | 596,229 |  |  |  | (293,655 | ) |  |  | — |  |  |  | (153,817 | )
(*1) | Recognized profit or loss of the changes in carrying amount of financial instruments classified as Level 3 for the years ended December 31, 2024 and 2025 are included in the accounts of the consolidated statements of comprehensive income, of which the amounts and the related accounts are as follows:
|  | 2024 |
|  | Amounts recognized in profit or loss |  |  | Recognized profit or loss from the financial instruments held as of December 31 |
Net gain on financial assets at FVTPL |  | W | 112,040 |  |  |  | 443,935 |
Net gain (loss) on financial liabilities designated at FVTPL |  |  | (74,680 | ) |  |  | 102,961 |
Net other operating income |  |  | 16,498 |  |  |  | 16,497 |
|  | W | 53,858 |  |  |  | 563,393 |
|  | 2025 |
|  | Amounts recognized in profit or loss |  |  | Recognized profit or loss from the financial instruments held as of December 31 |
Net gain on financial assets at FVTPL |  | W | 259,966 |  |  |  | 250,113 |
Net gain (loss) on financial liabilities designated at FVTPL |  |  | (225,030 | ) |  |  | 2,884 |
Net other operating income |  |  | 36,007 |  |  |  | 36,007 |
|  | W | 70,943 |  |  |  | 289,004 |
(*2) | Transfers between levels result from changes in the availability of observable market data for the financial instruments. The Group recognizes such transfers at the end of the reporting period in which the change occurs.
Valuation techniques and inputs used in measuring the fair value of financial instruments | i-3) Valuation techniques and significant inputs not observable in markets
| ① | Valuation techniques and inputs used in measuring the fair value of financial instruments classified as level 2 as of December 31, 2024 and 2025 are as follows:
|  | 2024
Type of financial instrument |  | Valuation technique |  |  | Carrying value |  |  | Significant inputs
Assets |  |  |  |  |  |  |  |  |  |
Financial assets at FVTPL |  |  |  |  |  |  |  |  |  |
Debt securities |  |  | DCF, NAV, Option model (*) |  |  | W | 39,833,051 |  |  | Discount rate, interest rate, stock price, etc.
Equity securities |  |  | NAV |  |  |  | 64,277 |  |  | Price of underlying assets such as stocks, bonds, etc.
|  |  |  |  |  |  | 39,897,328 |  |  |
Derivative assets |  |  |  |  |  |  |  |  |  |
Trading |  |  | Option model (*), Implied forward interest rate, DCF |  |  |  | 8,772,280 |  |  | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc.
Hedging |  |  |  |  |  |  | 702,361 |  |  |
|  |  |  |  |  |  | 9,474,641 |  |  |
Securities at FVOCI |  |  |  |  |  |  |  |  |  |
Debt securities |  |  | DCF, Option model (*) |  |  |  | 56,031,316 |  |  | Interest rate, discount rate, etc.
|  |  |  |  |  | W | 105,403,285 |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |
Financial liabilities designated at FVTPL |  |  |  |  |  |  |  |  |  |
Derivative-linked securities sold |  |  | Option model (*), NAV |  |  | W | 819,919 |  |  | Underlying asset price
Debt securities issued |  |  |  |  |  |  | 261,299 |  |  | Discount rate, volatility
|  |  |  |  |  |  | 1,081,218 |  |  |
Derivative liabilities |  |  |  |  |  |  |  |  |  |
Trading |  |  | Option model (*), Forward interest rate, DCF |  |  |  | 8,476,885 |  |  | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc.
Hedging |  |  |  |  |  |  | 814,374 |  |  |
|  |  |  |  |  |  | 9,291,259 |  |  |
|  |  |  |  |  | W | 10,372,477 |  |  |
|  | 2025
Type of financial instrument |  | Valuation technique |  | Carrying value |  |  | Significant inputs
Assets |  |  |  |  |  |  |  |
Financial assets at FVTPL |  |  |  |  |  |  |  |
Debt securities |  | DCF, NAV, Option model (*) |  | W | 42,011,753 |  |  | Discount rate, interest rate, stock price, etc.
Equity securities |  | NAV, Option model (*) |  |  | 461,978 |  |  | Price of underlying assets such as stocks, bonds, etc., dividend yield
|  |  |  |  | 42,473,731 |  |  |
Derivative assets |  |  |  |  |  |  |  |
Trading |  | Option model (*), Implied forward interest rate, DCF |  |  | 5,876,734 |  |  | Discount rate, foreign exchange rate, volatility, stock price, commodity index, etc.
Hedging |  |  |  |  | 617,091 |  |  |
|  |  |  |  | 6,493,825 |  |  |
Securities at FVOCI |  |  |  |  |  |  |  |
Debt securities |  | DCF, Option model (*) |  |  | 64,196,579 |  |  | Interest rate, discount rate, etc.
|  |  |  | W | 113,164,135 |  |  |
Liabilities |  |  |  |  |  |  |  |
Financial liabilities designated at FVTPL |  |  |  |  |  |  |  |
Derivative-linked securities sold |  | Option model (*), NAV |  | W | 255,532 |  |  | Underlying asset price
Debt securities issued |  |  | 287,849 |  |  | Discount rate, volatility
|  |  |  |  | 543,381 |  |  |
Derivative liabilities |  |  |  |  |  |  |  |
Trading |  | Option model (*), Forward interest rate, DCF |  |  | 5,540,526 |  |  | Discount rate, foreign exchange rate, volatility, stock price and commodity index, etc.
Hedging |  |  |  |  | 994,626 |  |  |
|  |  |  |  | 6,535,152 |  |  |
|  |  |  | W | 7,078,533 |  |  |
(*) | Option models applied to measure fair value include the Black-Scholes model, Hull-White model and methods such as Monte Carlo simulation are applied to some products depending on the product type.
| ② | Valuation techniques and significant inputs, but not observable, used in measuring the fair value of financial instruments classified as level 3 as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
Type of financial instrument |  | Valuation technique |  | Carrying Value (*2) |  |  | Significant unobservable inputs |  |  | Range |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial assets at FVTPL |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities, loans |  | DCF, NAV, Option model (*1), Income approach |  | W | 17,217,401 |  |  |  | The volatility of the underlying asset, Discount rate, Correlations, Growth rate, Liquidation Value |  |  |  | 0.56~81.72% 2.74~11.07% 4.74~82.57% 0.00% 0.00% |
Equity securities |  | DCF, NAV, Option model (*1), Comparable company analysis, Transaction case price, Dividend discount model (DDM), Cost method |  |  | 1,414,926 |  |  |  | The volatility of the underlying asset, Discount rate, Growth rate, Interest rate volatility |  |  |  | 25.58~53.67% 3.60~15.44% 0.00% 0.46~0.73% |
|  |  |  |  | 18,632,327 |  |  |  |  |  |  |  |  |
Derivative assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity and foreign exchange related |  | Option model (*1) |  |  | 125,445 |  |  |  | The volatility of the underlying asset, Correlations |  |  |  | 10.35~41.28% 41.60~73.24% |
Interest rates related |  |  |  |  | 85,141 |  |  |  | The volatility of the underlying asset, Correlations |  |  |  | 0.46~0.66% -38.28~69.59% |
Credit and commodity related |  |  |  |  | 508,591 |  |  |  | The volatility of the underlying asset, Correlations, Hazard Rate |  |  |  | 30.92~31.36% 99.88~99.96% 0.16~8.90% |
|  |  |  |  | 719,177 |  |  |  |  |  |  |  |  |
Securities at FVOCI |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | DCF, NAV, Option model (*1), Comparable company analysis |  |  | 922,191 |  |  |  | The volatility of the underlying asset, Discount rate, Growth rate, Interest rate volatility |  |  |  | 22.95% 4.75~14.03% -1.00~1.00% 0.41~67.91% |
|  |  |  | W | 20,273,695 |  |  |  |  |  |  |  |  |
|  | 2024 |
Type of financial instrument |  | Valuation technique |  | Carrying Value (*2) |  |  | Significant unobservable inputs |  | Range |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
Financial liabilities designated at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |
Equity related |  | Option model (*1) |  | W | 7,139,257 |  |  | The volatility of the underlying asset, Correlations |  |  | 0.46~57.68% -46.56~83.10% |
Derivative liabilities |  |  |  |  |  |  |  |  |  |  |  |
Equity and foreign exchange related |  | Option model (*1) |  |  | 181,858 |  |  | The volatility of the underlying asset, Correlations |  |  | 7.86~57.68% -46.56~83.10% |
Interest rates related |  |  |  |  | 428,049 |  |  | The volatility of the underlying asset, Regression coefficient, Correlations |  |  | 0.46~1.09% 0.00~2.32% -38.28~90.34% |
Credit and commodity related |  |  |  |  | 134,645 |  |  | The volatility of the underlying asset, Correlations, Hazard Rate |  |  | 6.98% 0.00% 0.29~6.05% |
|  |  |  |  | 744,552 |  |  |  |  |  |  |
|  |  |  | W | 7,883,809 |  |  |  |  |  |  |
|  | 2025 |
Type of financial instrument |  | Valuation technique |  |  | Carrying Value (*2) |  |  | Significant unobservable inputs |  | Range |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial assets at FVTPL |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities |  |  | DCF, NAV, Option model (*1), Income approach |  |  | W | 18,349,801 |  |  | The volatility of the underlying asset, Discount rate, Correlations, Growth rate, Interest rate volatility, Liquidation Value |  |  | 0.50~67.94% 4.04~17.95% 31.11~69.16% 0.00% 0.46~0.70% 0.00% |
Equity securities |  |  | DCF, NAV, Option model (*1), Comparable company analysis, Transaction case price, Dividend discount model (DDM), Cost method |  |  |  | 1,507,261 |  |  | The volatility of the underlying asset, Discount rate, Growth rate, Interest rate volatility, Liquidation Value |  |  | 0.00~68.67% 3.14~45.20% 0.00% 0.46~0.70% 0.00% |
|  |  |  |  |  |  | 19,857,062 |  |  |  |  |  |  |
Derivative assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity and foreign exchange related |  |  | Option model (*1) |  |  |  | 25,130 |  |  | The volatility of the underlying asset, Correlations |  |  | 10.63~61.54% 30.33~82.07% |
Interest rates related |  |  |  |  |  |  | 71,254 |  |  | The volatility of the underlying asset, Correlations |  |  | 0.48~1.51% -70.00~61.85% |
Credit and commodity related |  |  |  |  |  |  | 499,845 |  |  | The volatility of the underlying asset, Correlations, Hazard Rate |  |  | 30.76~31.08% 99.63% 0.08~9.29% |
|  |  |  |  |  |  | 596,229 |  |  |  |  |  |  |
|  | 2025 |
Type of financial instrument |  | Valuation technique |  |  | Carrying Value (*2) |  |  | Significant unobservable inputs |  | Range |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities at FVOCI |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities |  |  | Option model (*1) |  |  | W | 9,139 |  |  | Discount rate, Interest rate volatility |  |  | 6.23% 7.92% |
Equity securities |  |  | DCF, NAV, Option model (*1), Comparable company analysis, Cost method |  |  |  | 935,672 |  |  | The volatility of the underlying asset, Discount rate, Growth rate, Interest rate volatility, Liquidation Value |  |  | 23.87% 4.23~16.33% 0.00% 0.46~0.70% 0.00% |
|  |  |  |  |  |  | 944,811 |  |  |  |  |  |  |
|  |  |  |  |  | W | 21,398,102 |  |  |  |  |  |  |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial liabilities designated at fair value through profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity related |  |  | Option model (*1) |  |  | W | 5,834,683 |  |  | The volatility of the underlying asset, Correlations |  |  | 0.48~61.54% -70.00~82.07% |
Derivative liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity and foreign exchange related |  |  | Option model (*1) |  |  |  | 21,150 |  |  | The volatility of the underlying asset, Correlations |  |  | 8.20~61.54% 0.23~82.07% |
Interest rates related |  |  |  |  |  |  | 335,811 |  |  | The volatility of the underlying asset, Regression coefficient, Correlations |  |  | 0.48~1.51% 0.01~0.98% -70.00~90.34% |
Credit and commodity related |  |  |  |  |  |  | 90,511 |  |  | The volatility of the underlying asset, Correlations, Hazard Rate |  |  | 0.65~1.51% -70.00~61.85% 0.21~9.22% |
|  |  |  |  |  |  | 447,472 |  |  |  |  |  |  |
|  |  |  |  |  |  | W 6,282,155 |  |  |  |  |  |  |
(*1) | The option models used by the Group for valuation purposes include the Black-Scholes model, the Hull-White model, and Monte Carlo simulation, among others.
(*2) | Valuation techniques and input variables are not disclosed for items whose carrying amounts are considered to approximate fair value.
Sensitivity for changing in unobservable inputs |
| i-4) | Sensitivity for changing in unobservable inputs
For level 3 fair value measurement, the effects of changes in one or more of the unobservable inputs on profit or loss, or other comprehensive income as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
|  | Favorable changes |  |  | Unfavorable changes |
Financial assets: |  |  |  |  |  |  |  |
Effects on profit or loss for the period (*1), (*2): |  |  |  |  |  |  |  |
Financial assets at FVTPL |  | W | 38,489 |  |  |  | (33,351 | )
Derivative assets |  |  | 14,813 |  |  |  | (14,777 | )
Securities at FVOCI (*2) |  |  | 74,482 |  |  |  | (49,291 | )
|  | W | 127,784 |  |  |  | (97,419 | )
Financial liabilities: |  |  |  |  |  |  |  |
Effects on profit or loss for the period (*1): |  |  |  |  |  |  |  |
Financial liabilities designated at FVTPL |  | W | 19,782 |  |  |  | (20,339 | )
Derivative liabilities |  |  | 25,420 |  |  |  | (21,955 | )
|  | W | 45,202 |  |  |  | (42,294 | )
|  | 2025 |
|  | Favorable changes |  |  | Unfavorable changes |
Financial assets: |  |  |  |  |  |  |  |
Effects on profit or loss for the period (*1), (*2): |  |  |  |  |  |  |  |
Financial assets at FVTPL |  | W | 35,062 |  |  |  | (34,827 | )
Derivative assets |  |  | 15,446 |  |  |  | (14,723 | )
Securities at FVOCI (*2) |  |  | 60,531 |  |  |  | (42,863 | )
|  | W | 111,039 |  |  |  | (92,413 | )
Financial liabilities: |  |  |  |  |  |  |  |
Effects on profit or loss for the period (*1): |  |  |  |  |  |  |  |
Financial liabilities designated at FVTPL |  | W | 14,685 |  |  |  | (14,764 | )
Derivative liabilities |  |  | 6,889 |  |  |  | (7,538 | )
|  | W | 21,574 |  |  |  | (22,302 | )
(*1) | Fair value changes are calculated by increasing or decreasing the volatility of the underlying asset (-10~10%p) or correlations (-10~10%p), a significant unobservable input.
(*2) | Fair value changes are calculated by increasing or decreasing the growth rate and discount rate, which are a significant unobservable input, from -1% p to 1%p.
The method of measuring the fair value of financial instruments measured at amortized cost |
| ii-1) | The method of calculating the fair value of financial instruments measured at amortized cost is as follows:
Type |  | Measurement methods of fair value
Cash and due from banks |  | The carrying amount and the fair value for cash are identical and most of deposits are floating interest rate deposits or overnight deposits of a short-term instrument. For this reason, the book value is used as a proxy for fair value.
Loans |  | The fair value of the loans is measured by discounting the expected cash flow using a discount rate that reflects the market interest rate and the credit risk of the borrower.
Securities |  | An external professional evaluation agency is used to calculate the valuation amount using the market information. The agency calculates the fair value based on active market prices, and DCF model is used to calculate the fair value if there is no quoted price.
Deposits and borrowings |  | The carrying amount and the fair value for demand deposits, cash management account deposits, call money as short-term instrument are identical. The remaining liabilities and borrowings were calculated as fair value by discounting contractual cash flows at the market interest rate that reflects the residual risk.
Debt securities issued |  | Where available, the fair value of deposits and borrowings is based on the published price quotations in an active market. In case there is no data for an active market price, it is measured by discounting the contractual cash flow at the market interest rate that reflects the residual risk.
Investment contract liabilities |  | The carrying amount of accumulated pension benefits of retirement pension contract holders, as defined under the Insurance Business Act and the Regulations on Supervision of Insurance Business, is used as a proxy for fair value as reliable estimates of expected future cash flows are not available.
Other financial assets and other financial liabilities |  | The carrying amount is measured at fair value for short-term and suspense accounts, such as spot exchange, inter-bank fund transfer, and domestic exchange of payments, and for the remaining financial instruments, the present value is calculated by discounting the contractual cash flows at the market interest rate that reflects the residual risk.
The carrying value and the fair value of financial instruments measured at amortized cost |
| ii-2) | The carrying amount and the fair value of financial instruments measured at amortized cost as of December 31, 2024 and 2025 are as follows:
|  | 2024 |  |  | 2025 |
|  | Carrying amount |  |  | Fair value |  |  | Carrying amount |  |  | Fair value |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits at amortized cost (*) |  | W | 38,228,750 |  |  |  | 38,159,135 |  |  |  | 36,859,627 |  |  |  | 36,793,298 |
Loans at amortized cost |  |  | 449,295,238 |  |  |  | 452,724,752 |  |  |  | 464,773,880 |  |  |  | 466,291,620 |
Securities at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government bonds |  |  | 21,808,057 |  |  |  | 21,625,666 |  |  |  | 22,779,176 |  |  |  | 22,300,505 |
Financial institution bonds |  |  | 3,787,661 |  |  |  | 3,828,599 |  |  |  | 1,837,790 |  |  |  | 1,851,292 |
Corporation bonds |  |  | 7,720,281 |  |  |  | 7,694,086 |  |  |  | 7,327,402 |  |  |  | 7,239,123 |
|  |  | 33,315,999 |  |  |  | 33,148,351 |  |  |  | 31,944,368 |  |  |  | 31,390,920 |
Other financial assets |  |  | 23,116,960 |  |  |  | 23,469,322 |  |  |  | 43,323,340 |  |  |  | 43,674,984 |
|  | W | 543,956,947 |  |  |  | 547,501,560 |  |  |  | 576,901,215 |  |  |  | 578,150,822 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposit liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand deposits |  | W | 160,031,759 |  |  |  | 160,031,759 |  |  |  | 172,840,773 |  |  |  | 172,840,773 |
Time deposits |  |  | 236,527,490 |  |  |  | 236,878,216 |  |  |  | 238,328,250 |  |  |  | 238,238,605 |
Certificate of deposit |  |  | 10,409,701 |  |  |  | 10,481,318 |  |  |  | 17,001,339 |  |  |  | 16,970,158 |
Issued bill deposit |  |  | 7,624,787 |  |  |  | 7,624,245 |  |  |  | 8,921,064 |  |  |  | 8,920,096 |
CMA deposits |  |  | 4,451,561 |  |  |  | 4,451,561 |  |  |  | 4,889,093 |  |  |  | 4,889,093 |
Others |  |  | 3,735,747 |  |  |  | 3,735,726 |  |  |  | 5,668,452 |  |  |  | 5,668,466 |
|  |  | 422,781,045 |  |  |  | 423,202,825 |  |  |  | 447,648,971 |  |  |  | 447,527,191 |
Borrowing debts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Call-money |  |  | 1,197,823 |  |  |  | 1,197,823 |  |  |  | 1,437,100 |  |  |  | 1,437,100 |
Bills sold |  |  | 8,872 |  |  |  | 8,831 |  |  |  | 11,887 |  |  |  | 11,846 |
Bonds sold under repurchase agreements |  |  | 11,542,956 |  |  |  | 11,542,956 |  |  |  | 14,988,698 |  |  |  | 14,988,698 |
Borrowings |  |  | 37,170,722 |  |  |  | 37,236,104 |  |  |  | 38,957,149 |  |  |  | 38,924,550 |
|  |  | 49,920,373 |  |  |  | 49,985,714 |  |  |  | 55,394,834 |  |  |  | 55,362,194 |
Debt securities issued: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings in Korean won |  |  | 75,106,885 |  |  |  | 75,610,971 |  |  |  | 74,937,216 |  |  |  | 74,697,509 |
Borrowings in foreign currency |  |  | 18,658,969 |  |  |  | 18,759,433 |  |  |  | 18,054,206 |  |  |  | 18,273,309 |
|  |  | 93,765,854 |  |  |  | 94,370,404 |  |  |  | 92,991,422 |  |  |  | 92,970,818 |
Investment contract liabilities |  |  | 1,165,022 |  |  |  | 1,165,022 |  |  |  | 1,536,393 |  |  |  | 1,536,393 |
Other financial liabilities |  |  | 39,472,400 |  |  |  | 39,429,575 |  |  |  | 57,890,911 |  |  |  | 57,832,606 |
|  | W | 607,104,694 |  |  |  | 608,153,540 |  |  |  | 655,462,531 |  |  |  | 655,229,202 |
(*) | Cash is not included.
The fair value hierarchy of financial instruments which are not measured at their fair values in the statements of financial position |
| ii-3) | The fair value hierarchy of financial assets and liabilities which are not measured at their fair values in the statements of financial position but disclosed with their fair value as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Deposits at amortized cost (*) |  | W | 537,760 |  |  |  | 37,621,375 |  |  |  | — |  |  |  | 38,159,135 |
Loans at amortized cost |  |  | — |  |  |  | 965,455 |  |  |  | 451,759,297 |  |  |  | 452,724,752 |
Securities at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government bonds |  |  | 11,292,066 |  |  |  | 10,333,600 |  |  |  | — |  |  |  | 21,625,666 |
Financial institution bonds |  |  | 331,421 |  |  |  | 3,497,178 |  |  |  | — |  |  |  | 3,828,599 |
Corporation bonds |  |  | — |  |  |  | 7,694,086 |  |  |  | — |  |  |  | 7,694,086 |
|  |  | 11,623,487 |  |  |  | 21,524,864 |  |  |  | — |  |  |  | 33,148,351 |
Other financial assets |  |  | — |  |  |  | 13,474,763 |  |  |  | 9,994,559 |  |  |  | 23,469,322 |
|  | W | 12,161,247 |  |  |  | 73,586,457 |  |  |  | 461,753,856 |  |  |  | 547,501,560 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposit liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand deposits |  | W | — |  |  |  | 160,031,759 |  |  |  | — |  |  |  | 160,031,759 |
Time deposits |  |  | — |  |  |  | — |  |  |  | 236,878,216 |  |  |  | 236,878,216 |
Certificate of deposit |  |  | — |  |  |  | — |  |  |  | 10,481,318 |  |  |  | 10,481,318 |
Issued bill deposit |  |  | — |  |  |  | — |  |  |  | 7,624,245 |  |  |  | 7,624,245 |
CMA deposits |  |  | — |  |  |  | 4,451,561 |  |  |  | — |  |  |  | 4,451,561 |
Other |  |  | — |  |  |  | 3,694,921 |  |  |  | 40,805 |  |  |  | 3,735,726 |
|  |  | — |  |  |  | 168,178,241 |  |  |  | 255,024,584 |  |  |  | 423,202,825 |
Borrowing debts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Call-money |  |  | — |  |  |  | 1,197,823 |  |  |  | — |  |  |  | 1,197,823 |
Bills sold |  |  | — |  |  |  | — |  |  |  | 8,831 |  |  |  | 8,831 |
Bonds sold under repurchase agreements |  |  | — |  |  |  | — |  |  |  | 11,542,956 |  |  |  | 11,542,956 |
Borrowings |  |  | — |  |  |  | 19,922 |  |  |  | 37,216,182 |  |  |  | 37,236,104 |
|  |  | — |  |  |  | 1,217,745 |  |  |  | 48,767,969 |  |  |  | 49,985,714 |
Debt securities issued: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings in won |  |  | — |  |  |  | 43,460,315 |  |  |  | 32,150,656 |  |  |  | 75,610,971 |
Borrowings in foreign currency |  |  | — |  |  |  | 12,899,498 |  |  |  | 5,859,935 |  |  |  | 18,759,433 |
|  |  | — |  |  |  | 56,359,813 |  |  |  | 38,010,591 |  |  |  | 94,370,404 |
Investment contract liabilities |  |  | — |  |  |  | — |  |  |  | 1,165,022 |  |  |  | 1,165,022 |
Other financial liabilities |  |  | — |  |  |  | 10,428,026 |  |  |  | 29,001,549 |  |  |  | 39,429,575 |
|  | W | — |  |  |  | 236,183,825 |  |  |  | 371,969,715 |  |  |  | 608,153,540 |
|  | 2025 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Deposits at amortized cost (*) |  | W | 269,329 |  |  |  | 36,523,969 |  |  |  | — |  |  |  | 36,793,298 |
Loans at amortized cost |  |  | — |  |  |  | 700,039 |  |  |  | 465,591,581 |  |  |  | 466,291,620 |
Securities at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government bonds |  |  | 10,815,330 |  |  |  | 11,485,175 |  |  |  | — |  |  |  | 22,300,505 |
Financial institution bonds |  |  | 80,367 |  |  |  | 1,770,925 |  |  |  | — |  |  |  | 1,851,292 |
Corporation bonds |  |  | — |  |  |  | 7,239,123 |  |  |  | — |  |  |  | 7,239,123 |
|  |  | 10,895,697 |  |  |  | 20,495,223 |  |  |  | — |  |  |  | 31,390,920 |
Other financial assets |  |  | — |  |  |  | 29,465,771 |  |  |  | 14,209,213 |  |  |  | 43,674,984 |
|  | W | 11,165,026 |  |  |  | 87,185,002 |  |  |  | 479,800,794 |  |  |  | 578,150,822 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposit liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand deposits |  | W | — |  |  |  | 172,840,773 |  |  |  | — |  |  |  | 172,840,773 |
Time deposits |  |  | — |  |  |  | — |  |  |  | 238,238,605 |  |  |  | 238,238,605 |
Certificate of deposit |  |  | — |  |  |  | — |  |  |  | 16,970,158 |  |  |  | 16,970,158 |
Issued bill deposit |  |  | — |  |  |  | — |  |  |  | 8,920,096 |  |  |  | 8,920,096 |
CMA deposits |  |  | — |  |  |  | 4,889,093 |  |  |  | — |  |  |  | 4,889,093 |
Other |  |  | — |  |  |  | 5,625,593 |  |  |  | 42,873 |  |  |  | 5,668,466 |
|  |  | — |  |  |  | 183,355,459 |  |  |  | 264,171,732 |  |  |  | 447,527,191 |
Borrowing debts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Call-money |  |  | — |  |  |  | 1,437,100 |  |  |  | — |  |  |  | 1,437,100 |
Bills sold |  |  | — |  |  |  | — |  |  |  | 11,846 |  |  |  | 11,846 |
Bonds sold under repurchase agreements |  |  | — |  |  |  | — |  |  |  | 14,988,698 |  |  |  | 14,988,698 |
Borrowings |  |  | — |  |  |  | 108,795 |  |  |  | 38,815,755 |  |  |  | 38,924,550 |
|  |  | — |  |  |  | 1,545,895 |  |  |  | 53,816,299 |  |  |  | 55,362,194 |
Debt securities issued: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings in won |  |  | — |  |  |  | 40,127,224 |  |  |  | 34,570,285 |  |  |  | 74,697,509 |
Borrowings in foreign currency |  |  | — |  |  |  | 12,618,554 |  |  |  | 5,654,755 |  |  |  | 18,273,309 |
|  |  | — |  |  |  | 52,745,778 |  |  |  | 40,225,040 |  |  |  | 92,970,818 |
Investment contract liabilities |  |  | — |  |  |  | — |  |  |  | 1,536,393 |  |  |  | 1,536,393 |
Other financial liabilities |  |  | — |  |  |  | 22,535,595 |  |  |  | 35,297,011 |  |  |  | 57,832,606 |
|  | W | — |  |  |  | 260,182,727 |  |  |  | 395,046,475 |  |  |  | 655,229,202 |
(*) | Cash is not included.
Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value |
| ii-4) | Valuation techniques and inputs used in the fair value measurements categorized within Level 2 and Level 3 for fair value disclosures, which are not recognized at fair value, as of December 31, 2024 and 2025, are as follows:
|  | 2024
|  | Fair value (*) |  |  | Valuation technique |  |  | Inputs
Financial instruments classified as level 2: |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |
Due from banks at amortized cost |  | W | 37,621,375 |  |  |  | DCF |  |  | Discount rate
Loans at amortized cost |  |  | 965,455 |  |  |  | DCF |  |  | Discount rate, Credit spread, Prepayment rate
Securities at amortized cost |  |  | 21,524,864 |  |  |  | DCF |  |  | Discount rate
Other financial assets |  |  | 13,474,763 |  |  |  | DCF |  |  | Discount rate
Financial instruments classified as level 3: |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |
Loans at amortized cost |  |  | 451,759,297 |  |  |  | DCF |  |  | Discount rate, Credit spread, Prepayment rate
Other financial assets |  |  | 9,994,559 |  |  |  | DCF |  |  | Discount rate
|  | W | 535,340,313 |  |  |  |  |  |  |
Financial instruments classified as level 2: |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |
Deposits |  | W | 168,178,241 |  |  |  | DCF |  |  | Discount rate
Borrowings |  |  | 1,217,745 |  |  |  | DCF |  |  | Discount rate
Debt securities issued |  |  | 56,359,813 |  |  |  | DCF |  |  | Discount rate
Other financial liabilities |  |  | 10,428,026 |  |  |  | DCF |  |  | Discount rate
Financial instruments classified as level 3: |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 255,024,584 |  |  |  | DCF |  |  | Discount rate
Borrowings |  |  | 48,767,969 |  |  |  | DCF |  |  | Discount rate
Debt securities issued |  |  | 38,010,591 |  |  |  | DCF |  |  | Discount rate, Regression coefficient, Correlations
Investment contract liabilities |  |  | 1,165,022 |  |  |  | — |  |  | —
Other financial liabilities |  |  | 29,001,549 |  |  |  | DCF |  |  | Discount rate
|  | W | 608,153,540 |  |  |  |  |  |  |
|  | 2025
|  | Fair value (*) |  |  | Valuation technique |  |  | Inputs
Financial instruments classified as level 2: |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |
Due from banks at amortized cost |  | W | 36,523,969 |  |  |  | DCF |  |  | Discount rate
Loans at amortized cost |  |  | 700,039 |  |  |  | DCF |  |  | Discount rate, Credit spread, Prepayment rate
Securities at amortized cost |  |  | 20,495,223 |  |  |  | DCF |  |  | Discount rate
Other financial assets |  |  | 29,465,771 |  |  |  | DCF |  |  | Discount rate
Financial instruments classified as level 3: |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |
Loans at amortized cost |  |  | 465,591,581 |  |  |  | DCF |  |  | Discount rate, Credit spread, Prepayment rate
Other financial assets |  |  | 14,209,213 |  |  |  | DCF |  |  | Discount rate
|  | W | 566,985,796 |  |  |  |  |  |  |
Financial instruments classified as level 2: |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |
Deposits |  | W | 183,355,459 |  |  |  | DCF |  |  | Discount rate
Borrowings |  |  | 1,545,895 |  |  |  | DCF |  |  | Discount rate
Debt securities issued |  |  | 52,745,778 |  |  |  | DCF |  |  | Discount rate
Other financial liabilities |  |  | 22,535,595 |  |  |  | DCF |  |  | Discount rate
Financial instruments classified as level 3: |  |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 264,171,732 |  |  |  | DCF |  |  | Discount rate
Borrowings |  |  | 53,816,299 |  |  |  | DCF |  |  | Discount rate
Debt securities issued |  |  | 40,225,040 |  |  |  | DCF |  |  | Discount rate, Regression coefficient, Correlations
Investment contract liabilities |  |  | 1,536,393 |  |  |  | — |  |  | —
Other financial liabilities |  |  | 35,297,011 |  |  |  | DCF |  |  | Discount rate
|  | W | 655,229,202 |  |  |  |  |  |  |
(*) | Valuation techniques and inputs are not disclosed when the carrying amount is a reasonable approximation of fair value.
Changes in gains or losses on valuation at the transaction | iii) Changes in gains or losses on valuation at the transaction date for the years ended December 31, 2024 and 2025, are as follows:
|  | 2024 |  |  | 2025 |
Beginning balance |  | W | (81,747 | ) |  |  | (89,230) |
New transactions |  |  | (33,712 | ) |  |  | (40,646 | )
Recognized in profit for the year |  |  | 26,229 |  |  |  | 40,199 |
Ending balance |  | W | (89,230 | ) |  |  | (89,677 | )
Classification by categories of financial instruments | The carrying amounts of each category of financial assets and financial liabilities as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
|  | Financial assets at FVTPL |  |  | Financial assets at FVOCI |  |  | Financial assets at amortized cost |  |  | Derivatives held for hedging |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks at amortized cost |  | W | — |  |  |  | — |  |  |  | 40,525,712 |  |  |  | — |  |  |  | 40,525,712 |
Due from banks at FVTPL |  |  | 35,450 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35,450 |
Securities at FVTPL |  |  | 70,231,449 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 70,231,449 |
Derivatives assets |  |  | 9,576,896 |  |  |  | — |  |  |  | — |  |  |  | 702,361 |  |  |  | 10,279,257 |
Loans at FVTPL |  |  | 1,879,946 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,879,946 |
Loans at amortized cost |  |  | — |  |  |  | — |  |  |  | 449,295,238 |  |  |  | — |  |  |  | 449,295,238 |
Securities at FVOCI |  |  | — |  |  |  | 93,805,369 |  |  |  | — |  |  |  | — |  |  |  | 93,805,369 |
Securities at amortized cost |  |  | — |  |  |  | — |  |  |  | 33,315,999 |  |  |  | — |  |  |  | 33,315,999 |
Others |  |  | — |  |  |  | — |  |  |  | 23,116,960 |  |  |  | — |  |  |  | 23,116,960 |
|  | W | 81,723,741 |  |  |  | 93,805,369 |  |  |  | 546,253,909 |  |  |  | 702,361 |  |  |  | 722,485,380 |
|  | 2024 |
|  | Financial liabilities at FVTPL |  |  | Financial liabilities designated at FVTPL |  |  | Financial liabilities at amortized cost |  |  | Derivatives held for hedging |  |  | Total |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | W | — |  |  |  | — |  |  |  | 422,781,045 |  |  |  | — |  |  |  | 422,781,045 |
Financial liabilities at FVTPL |  |  | 954,899 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 954,899 |
Financial liabilities designated at FVTPL |  |  | — |  |  |  | 8,220,475 |  |  |  | — |  |  |  | — |  |  |  | 8,220,475 |
Derivatives liabilities |  |  | 9,036,461 |  |  |  | — |  |  |  | — |  |  |  | 1,022,071 |  |  |  | 10,058,532 |
Borrowings |  |  | — |  |  |  | — |  |  |  | 49,920,373 |  |  |  | — |  |  |  | 49,920,373 |
Debt securities issued |  |  | — |  |  |  | — |  |  |  | 93,765,854 |  |  |  | — |  |  |  | 93,765,854 |
Investment contract liabilities |  |  | — |  |  |  | — |  |  |  | 1,165,022 |  |  |  | — |  |  |  | 1,165,022 |
Others |  |  | — |  |  |  | — |  |  |  | 39,472,400 |  |  |  | — |  |  |  | 39,472,400 |
|  | W | 9,991,360 |  |  |  | 8,220,475 |  |  |  | 607,104,694 |  |  |  | 1,022,071 |  |  |  | 626,338,600 |
|  | 2025 |
|  | Financial assets at FVTPL |  |  | Financial assets at FVOCI |  |  | Financial assets at amortized cost |  |  | Derivatives held for hedging |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks at amortized cost |  | W | — |  |  |  | — |  |  |  | 39,742,605 |  |  |  | — |  |  |  | 39,742,605 |
Due from banks at FVTPL |  |  | 40,862 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 40,862 |
Securities at FVTPL |  |  | 76,597,261 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 76,597,261 |
Derivatives assets |  |  | 6,536,859 |  |  |  | — |  |  |  | — |  |  |  | 617,091 |  |  |  | 7,153,950 |
Loans at FVTPL |  |  | 1,415,254 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,415,254 |
Loans at amortized cost |  |  | — |  |  |  | — |  |  |  | 464,773,880 |  |  |  | — |  |  |  | 464,773,880 |
Securities at FVOCI |  |  | — |  |  |  | 103,216,950 |  |  |  | — |  |  |  | — |  |  |  | 103,216,950 |
Securities at amortized cost |  |  | — |  |  |  | — |  |  |  | 31,944,368 |  |  |  | — |  |  |  | 31,944,368 |
Others |  |  | — |  |  |  | — |  |  |  | 43,323,340 |  |  |  | — |  |  |  | 43,323,340 |
|  | W | 84,590,236 |  |  |  | 103,216,950 |  |  |  | 579,784,193 |  |  |  | 617,091 |  |  |  | 768,208,470 |
|  | 2025 |
|  | Financial liabilities at FVTPL |  |  | Financial liabilities designated at FVTPL |  |  | Financial liabilities at amortized cost |  |  | Derivatives held for hedging |  |  | Total |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | W | — |  |  |  | — |  |  |  | 447,648,971 |  |  |  | — |  |  |  | 447,648,971 |
Financial liabilities at FVTPL |  |  | 2,312,487 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,312,487 |
Financial liabilities designated at FVTPL |  |  | — |  |  |  | 6,378,064 |  |  |  | — |  |  |  | — |  |  |  | 6,378,064 |
Derivatives liabilities |  |  | 5,872,403 |  |  |  | — |  |  |  | — |  |  |  | 1,148,443 |  |  |  | 7,020,846 |
Borrowings |  |  | — |  |  |  | — |  |  |  | 55,394,834 |  |  |  | — |  |  |  | 55,394,834 |
Debt securities issued |  |  | — |  |  |  | — |  |  |  | 92,991,422 |  |  |  | — |  |  |  | 92,991,422 |
Investment contract liabilities |  |  | — |  |  |  | — |  |  |  | 1,536,393 |  |  |  | — |  |  |  | 1,536,393 |
Others |  |  | — |  |  |  | — |  |  |  | 57,890,911 |  |  |  | — |  |  |  | 57,890,911 |
|  | W | 8,184,890 |  |  |  | 6,378,064 |  |  |  | 655,462,531 |  |  |  | 1,148,443 |  |  |  | 671,173,928 |
Transfers that do not qualify for derecognition | i) Transfers that do not qualify for derecognition i-1) Repurchase agreements (Repo) As of December 31, 2024 and 2025, the details of financial instruments that do not qualify for derecognition, as the Group sold securities with an obligation to repurchase them at a fixed price under repurchase agreements, are as follows:
|  | 2024 |  |  | 2025 |
Transferred asset: |  |  |  |  |  |  |  |
Securities at FVTPL |  | W | 10,141,306 |  |  |  | 7,687,437 |
Securities at FVOCI |  |  | 645,888 |  |  |  | 4,615,372 |
Securities at amortized cost |  |  | 199,261 |  |  |  | 87,569 |
Loans at amortized cost |  |  | 20,600 |  |  |  | 10,700 |
|  | W | 11,007,055 |  |  |  | 12,401,078 |
Related liabilities: |  |  |  |  |  |  |  |
Bonds sold under repurchase agreements (*) |  | W | 11,542,956 |  |  |  | 14,988,698 |
| (*) | As of December 31, 2024 and 2025, borrowed securities pledged as collateral in connection with repurchase agreements amounted to W 1,502,252 million and W 3,643,514 million, respectively.
i-2) Securities loaned If the securities owned by the Group are loaned, the ownership of the securities is transferred, but is required to be returned at the end of the loan period. Therefore, the Group continues to recognize the entire securities loaned as it holds most of the risks and compensation of the securities. Securities loaned as of December 31, 2024 and 2025 are as follows:
|  | 2024 |  |  | 2025 |  |  | Borrowers
Government bonds |  | W | 13,611,571 |  |  |  | 14,992,877 |  |  | Korea Securities Finance Corp., Korea Securities Depository, etc.
Financial institutions bonds |  |  | 607,175 |  |  |  | 408,766 |  |  | Korea Securities Finance Corp., Korea Securities Depository, etc.
Corporation bonds |  |  | 465,211 |  |  |  | 519,713 |  |  | BNP Paribas Securities Corp.
Equity securities |  |  | 15,826 |  |  |  | 40,277 |  |  | Korea Securities Depository, etc.
|  | W 14,699,783 |  |  | 15,961,633 |  |  |
Offsetting financial assets and financial liabilities | Financial assets and liabilities subject to offsetting, enforceable master netting arrangements and similar agreements as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
|  | Gross amounts of recognized financial assets/ liabilities |  |  | Gross amounts of recognized financial assets/ liabilities set off in the statement of financial position |  |  | Net amounts of financial assets/ liabilities presented in the statement of financial position |  |  | Related amounts not set off in the statement of financial position |  |  | Net amount |
| Financial instruments |  |  | Cash collateral received |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives (*1) |  | W | 10,560,214 |  |  |  | — |  |  |  | 10,560,214 |  |  |  | 13,744,859 |  |  |  | 522,860 |  |  |  | 5,592,302 |
Other financial instruments (*1) |  |  | 9,299,807 |  |  |  | — |  |  |  | 9,299,807 |
Securities repurchased under repurchase agreements and bonds purchased under repurchase agreements (*2) |  |  | 17,514,396 |  |  |  | — |  |  |  | 17,514,396 |  |  |  | 15,238,643 |  |  |  | — |  |  |  | 2,275,753 |
Securities loaned (*2) |  |  | 6,456,316 |  |  |  | — |  |  |  | 6,456,316 |  |  |  | 6,393,972 |  |  |  | — |  |  |  | 62,344 |
Domestic exchange settlement debit (*3) |  |  | 39,697,639 |  |  |  | 34,787,860 |  |  |  | 4,909,779 |  |  |  | — |  |  |  | — |  |  |  | 4,909,779 |
Receivables from disposal of securities (*4) |  |  | 4,879,073 |  |  |  | 2,199,610 |  |  |  | 2,679,463 |  |  |  | 1,925,615 |  |  |  | — |  |  |  | 753,848 |
|  | W | 88,407,445 |  |  |  | 36,987,470 |  |  |  | 51,419,975 |  |  |  | 37,303,089 |  |  |  | 522,860 |  |  |  | 13,594,026 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives (*1), (*5) |  | W | 18,245,590 |  |  |  | — |  |  |  | 18,245,590 |  |  |  | 14,692,837 |  |  |  | 1,000 |  |  |  | 11,767,096 |
Other financial instruments (*1) |  |  | 8,215,343 |  |  |  | — |  |  |  | 8,215,343 |
Bonds sold under repurchase agreements (*2) |  |  | 11,542,956 |  |  |  | — |  |  |  | 11,542,956 |  |  |  | 10,667,259 |  |  |  | — |  |  |  | 875,697 |
Securities borrowed (*2) |  |  | 357,842 |  |  |  | — |  |  |  | 357,842 |  |  |  | 357,842 |  |  |  | — |  |  |  | — |
Domestic exchange settlement pending (*3) |  |  | 36,593,966 |  |  |  | 34,787,860 |  |  |  | 1,806,106 |  |  |  | 1,735,983 |  |  |  | — |  |  |  | 70,123 |
Payable from purchase of securities (*4) |  |  | 4,868,572 |  |  |  | 2,199,610 |  |  |  | 2,668,962 |  |  |  | 1,926,038 |  |  |  | — |  |  |  | 742,924 |
|  | W | 79,824,269 |  |  |  | 36,987,470 |  |  |  | 42,836,799 |  |  |  | 29,379,959 |  |  |  | 1,000 |  |  |  | 13,455,840 |
(*1) | The Group has certain derivative transactions subject to the ISDA (International Swaps and Derivatives Association) agreement. According to the ISDA agreement, when credit events (e.g. default) of counterparties occur, all derivative agreements are terminated and set off. At the time of termination, the parties to the transaction will offset the amount of payment or payment to each other, and one party will pay the other party a single amount will be paid to the other party.
(*2) | Resale and repurchase agreements and securities borrowing and lending agreements are also similar to ISDA agreements with respect to legally enforceable netting arrangements.
| For securities lending transactions executed through intermediaries, such as the Korea Securities Depository and the Korea Securities Finance Corporation (i.e., competitive transactions), collateral is pledged in the name of the intermediary. Accordingly, direct netting agreements and the enforceability of collateral between the transaction counterparties do not apply.
| In this regard, the amount of securities lent for which a pledge has been established in the name of the intermediary amounted to W 5,186,364 million as of December 31, 2024.
(*3) | The Group has legally enforceable right to set off and settles financial assets and liabilities on a net basis under normal business terms. Therefore, domestic exchanges settlement receivables (payables) are recorded on a net basis in the consolidated statements of financial position.
(*4) | It is an account that deals with bonds and liabilities based on the settlement of listed stocks traded in the market. The Group currently has a legally enforceable right to set off the recognized amounts and intends to settle on a net basis. Therefore, the net amount is presented in the consolidated statement of financial position. The offset amount of related bonds and liabilities based on the settlement of over-the-counter derivatives in-house payment by Central Clearing System is included.
(*5) | As of December 31, 2024, the total amount of financial liabilities includes W 7,966,828 million of ELS (equity-linked securities) products and of DLS (derivative linked securities) products. In the course of this transaction, the Group has provided collateral for some transactions. The financial instruments provided as collateral of W 586,768 million are included in the related instruments not offset in the statement of financial position.
|  | 2025 |
|  | Gross amounts of recognized financial assets/ liabilities |  |  | Gross amounts of recognized financial assets/ liabilities set off in the statement of financial position |  |  | Net amounts of financial assets/ liabilities presented in the statement of financial position |  |  | Related amounts not set off in the statement of financial position |  |  | Net amount |
| Financial instruments |  |  | Cash collateral received |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives (*1) |  | W | 7,215,469 |  |  |  | — |  |  |  | 7,215,469 |  |  |  | 22,362,966 |  |  |  | 425,193 |  |  |  | 2,546,676 |
Other financial instruments (*1) |  |  | 18,119,366 |  |  |  | — |  |  |  | 18,119,366 |
Securities repurchased under repurchase agreements and bonds purchased under repurchase agreements (*2) |  |  | 14,417,309 |  |  |  | — |  |  |  | 14,417,309 |  |  |  | 14,220,871 |  |  |  | — |  |  |  | 196,438 |
Securities loaned (*2) |  |  | 1,274,760 |  |  |  | — |  |  |  | 1,274,760 |  |  |  | 1,101,854 |  |  |  | — |  |  |  | 172,906 |
Domestic exchange settlement debit (*3) |  |  | 49,477,452 |  |  |  | 38,218,494 |  |  |  | 11,258,958 |  |  |  | — |  |  |  | — |  |  |  | 11,258,958 |
Receivables from disposal of securities (*4) |  |  | 14,771,529 |  |  |  | 7,247,688 |  |  |  | 7,523,841 |  |  |  | 6,110,092 |  |  |  | — |  |  |  | 1,413,749 |
|  | W | 105,275,885 |  |  |  | 45,466,182 |  |  |  | 59,809,703 |  |  |  | 43,795,783 |  |  |  | 425,193 |  |  |  | 15,588,727 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives (*1), (*5) |  | W | 13,236,855 |  |  |  | — |  |  |  | 13,236,855 |  |  |  | 22,987,953 |  |  |  | 1,000 |  |  |  | 8,021,031 |
Other financial instruments (*1) |  |  | 17,773,129 |  |  |  | — |  |  |  | 17,773,129 |
Bonds sold under repurchase agreements (*2) |  |  | 14,988,698 |  |  |  | — |  |  |  | 14,988,698 |  |  |  | 11,768,314 |  |  |  | — |  |  |  | 3,220,384 |
Securities borrowed (*2) |  |  | 790,416 |  |  |  | — |  |  |  | 790,416 |  |  |  | 790,416 |  |  |  | — |  |  |  | — |
Domestic exchange settlement pending (*3) |  |  | 42,413,447 |  |  |  | 38,218,494 |  |  |  | 4,194,953 |  |  |  | 4,097,860 |  |  |  | — |  |  |  | 97,093 |
Payable from purchase of securities (*4) |  |  | 14,808,991 |  |  |  | 7,247,688 |  |  |  | 7,561,303 |  |  |  | 6,110,113 |  |  |  | — |  |  |  | 1,451,190 |
|  | W | 104,011,536 |  |  |  | 45,466,182 |  |  |  | 58,545,354 |  |  |  | 45,754,656 |  |  |  | 1,000 |  |  |  | 12,789,698 |
(*1) | The Group has certain derivative transactions subject to the ISDA (International Swaps and Derivatives Association) agreement. According to the ISDA agreement, when credit events (e.g. default) of counterparties occur, all derivative agreements are terminated and set off. At the time of termination, the parties to the transaction will offset the amount of payment or payment to each other, and one party will pay the other party a single amount will be paid to the other party.
(*2) | Resale and repurchase agreements and securities borrowing and lending agreements are also similar to ISDA agreements with respect to legally enforceable netting arrangements.
(*3) | The Group has legally enforceable right to set off and settles financial assets and liabilities on a net basis under normal business terms. Therefore, domestic exchanges settlement receivables (payables) are recorded on a net basis in the consolidated statements of financial position.
(*4) | It is an account that deals with bonds and liabilities based on the settlement of listed stocks traded in the market. The Group currently has a legally enforceable right to set off the recognized amounts and intends to settle on a net basis. Therefore, the net amount is presented in the consolidated statement of financial position. The offset amount of related bonds and liabilities based on the settlement of over-the-counter derivatives in-house payment by Central Clearing System is included.
(*5) | As of December 31, 2025, the total amount of financial liabilities includes W 6,090,215 million of ELS (equity-linked securities) products and of DLS (derivative linked securities) products. In the course of this transaction, the Group has provided collateral for some transactions. The financial instruments provided as collateral of W 156,351 million are included in the related instruments not offset in the statement of financial position.
The capital ratio of the Group based on Basel III | The Basel III capital ratios of the Group as of December 31, 2024 and 2025 are as follows:
|  | 2024 |  |  | 2025 |
Capital: |  |  |  |  |  |  |  |
Common Equity Tier 1 capital |  | W | 44,562,500 |  |  |  | 47,115,338 |
Additional tier 1 capital |  |  | 5,824,082 |  |  |  | 5,890,967 |
Total Tier I capital |  |  | 50,386,582 |  |  |  | 53,006,305 |
Tier II capital |  |  | 3,516,787 |  |  |  | 3,254,292 |
Total capital (A) |  | W | 53,903,369 |  |  |  | 56,260,597 |
Total risk-weighted assets (B) |  | W | 342,375,264 |  |  |  | 352,907,638 |
Total capital ratio (A/B) |  |  | 15.74 | % |  |  | 15.94 | %
Tier 1 capital ratio |  |  | 14.72 | % |  |  | 15.02 | %
Common Equity Tier 1 capital ratio |  |  | 13.02 | % |  |  | 13.35 | %
(*) | As of December 31, 2025, the Group maintains an appropriate capital adequacy ratio in accordance with the BIS capital regulation system and the capital ratios as of that date are provisional.

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