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Derivatives (Tables) | 12 Months Ended
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Dec. 31, 2025
Disclosure of detailed information about hedges [abstract] |
Notional amounts of derivatives |
| (a) | The notional amounts of derivatives outstanding as of December 31, 2024 and 2025 are as follows:
|  | 2024 |  |  | 2025 |
Foreign currency related: |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |
Currency forwards |  | W | 167,805,176 |  |  |  | 186,552,883 |
Currency swaps |  |  | 59,641,567 |  |  |  | 68,522,136 |
Currency options |  |  | 2,182,530 |  |  |  | 3,410,253 |
|  |  | 229,629,273 |  |  |  | 258,485,272 |
Exchange traded: |  |  |  |  |  |  |  |
Currency futures |  |  | 1,534,764 |  |  |  | 1,982,556 |
|  |  | 231,164,037 |  |  |  | 260,467,828 |
Interest rates related: |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |
Interest rate forwards and swaps |  |  | 57,169,341 |  |  |  | 65,847,009 |
Interest rate options |  |  | 825,057 |  |  |  | 926,000 |
|  |  | 57,994,398 |  |  |  | 66,773,009 |
Exchange traded: |  |  |  |  |  |  |  |
Interest rate futures |  |  | 4,875,687 |  |  |  | 3,962,031 |
Interest rate swaps (*) |  |  | 142,194,805 |  |  |  | 175,593,544 |
|  |  | 147,070,492 |  |  |  | 179,555,575 |
|  |  | 205,064,890 |  |  |  | 246,328,584 |
Credit related: |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |
Credit swaps |  |  | 4,231,106 |  |  |  | 5,079,897 |
Total return swaps |  |  | 809,987 |  |  |  | 841,964 |
|  |  | 5,041,093 |  |  |  | 5,921,861 |
Equity related: |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |
Equity swaps and forwards |  |  | 5,975,657 |  |  |  | 2,811,480 |
Equity options |  |  | 2,923,962 |  |  |  | 2,283,749 |
|  |  | 8,899,619 |  |  |  | 5,095,229 |
Exchange traded: |  |  |  |  |  |  |  |
Equity futures |  |  | 1,600,342 |  |  |  | 1,357,692 |
Equity options |  |  | 452,322 |  |  |  | 492,549 |
|  |  | 2,052,664 |  |  |  | 1,850,241 |
|  |  | 10,952,283 |  |  |  | 6,945,470 |
|  | 2024 |  |  | 2025 |
Commodity related: |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |
Commodity swaps and forwards |  |  | 2,121,686 |  |  |  | 1,698,190 |
Exchange traded: |  |  |  |  |  |  |  |
Commodity futures |  |  | 172,899 |  |  |  | 249,235 |
|  |  | 2,294,585 |  |  |  | 1,947,425 |
Hedge: |  |  |  |  |  |  |  |
Currency forwards |  |  | 4,345,149 |  |  |  | 3,713,759 |
Currency swaps |  |  | 7,993,851 |  |  |  | 9,059,479 |
Interest rate forwards and swaps |  |  | 13,219,417 |  |  |  | 13,612,757 |
Equity options |  |  | 18,750 |  |  |  | — |
|  |  | 25,577,167 |  |  |  | 26,385,995 |
|  | W | 480,094,055 |  |  |  | 547,997,163 |
(*) | The notional amounts of derivatives outstanding that are to be settled in the ‘Central Counter Party (CCP)’system.
Fair value of derivative instruments |
| (b) | Fair values of derivatives as of December 31, 2024 and 2025 are as follows:
|  | 2024 |  |  | 2025 |
|  | Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Foreign currency related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency forwards |  | W | 5,731,971 |  |  |  | 3,887,398 |  |  |  | 3,384,263 |  |  |  | 2,215,089 |
Currency swaps |  |  | 2,299,084 |  |  |  | 3,823,249 |  |  |  | 1,703,067 |  |  |  | 2,625,865 |
Currency options |  |  | 24,230 |  |  |  | 25,700 |  |  |  | 9,043 |  |  |  | 18,497 |
|  |  | 8,055,285 |  |  |  | 7,736,347 |  |  |  | 5,096,373 |  |  |  | 4,859,451 |
Exchange traded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency futures |  |  | 1,527 |  |  |  | 828 |  |  |  | 107 |  |  |  | 3,365 |
|  |  | 8,056,812 |  |  |  | 7,737,175 |  |  |  | 5,096,480 |  |  |  | 4,862,816 |
Interest rates related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate forwards and swaps |  |  | 734,284 |  |  |  | 859,402 |  |  |  | 817,433 |  |  |  | 754,732 |
Interest rate options |  |  | 1,157 |  |  |  | 28,907 |  |  |  | — |  |  |  | 29,468 |
|  |  | 735,441 |  |  |  | 888,309 |  |  |  | 817,433 |  |  |  | 784,200 |
Exchange traded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate futures |  |  | 2,929 |  |  |  | 675 |  |  |  | 1,605 |  |  |  | 808 |
|  |  | 738,370 |  |  |  | 888,984 |  |  |  | 819,038 |  |  |  | 785,008 |
|  | 2024 |  |  | 2025 |
|  | Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Credit related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit swaps |  |  | 40,325 |  |  |  | 5,208 |  |  |  | 40,643 |  |  |  | 7,187 |
Total return swaps |  |  | 467,352 |  |  |  | 4,556 |  |  |  | 458,469 |  |  |  | 6,510 |
|  |  | 507,677 |  |  |  | 9,764 |  |  |  | 499,112 |  |  |  | 13,697 |
Equity related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity swap and forwards |  |  | 96,841 |  |  |  | 137,399 |  |  |  | 43,121 |  |  |  | 48,500 |
Equity options |  |  | 95,173 |  |  |  | 112,088 |  |  |  | 5,880 |  |  |  | 17,480 |
|  |  | 192,014 |  |  |  | 249,487 |  |  |  | 49,001 |  |  |  | 65,980 |
Exchange traded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity futures |  |  | 1,228 |  |  |  | 13,302 |  |  |  | 10,401 |  |  |  | 663 |
Equity options |  |  | 66,177 |  |  |  | 4,274 |  |  |  | 43,595 |  |  |  | 24,835 |
|  |  | 67,405 |  |  |  | 17,576 |  |  |  | 53,996 |  |  |  | 25,498 |
|  |  | 259,419 |  |  |  | 267,063 |  |  |  | 102,997 |  |  |  | 91,478 |
Commodity related: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity swaps and forwards |  |  | 914 |  |  |  | 129,833 |  |  |  | 11,044 |  |  |  | 110,854 |
Exchange traded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity futures |  |  | 13,704 |  |  |  | 3,642 |  |  |  | 8,188 |  |  |  | 8,550 |
|  |  | 14,618 |  |  |  | 133,475 |  |  |  | 19,232 |  |  |  | 119,404 |
Hedge: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency forwards |  |  | 12,100 |  |  |  | 213,015 |  |  |  | 18,997 |  |  |  | 176,304 |
Currency swaps |  |  | 539,015 |  |  |  | 181,413 |  |  |  | 521,120 |  |  |  | 344,888 |
Interest rate forwards and swaps |  |  | 151,246 |  |  |  | 623,702 |  |  |  | 76,974 |  |  |  | 627,251 |
Equity options |  |  | — |  |  |  | 3,941 |  |  |  | — |  |  |  | — |
|  |  | 702,361 |  |  |  | 1,022,071 |  |  |  | 617,091 |  |  |  | 1,148,443 |
|  | W | 10,279,257 |  |  |  | 10,058,532 |  |  |  | 7,153,950 |  |  |  | 7,020,846 |
Gain or loss on valuation of derivatives |
| (c) | Gains or losses on valuation of derivatives for the years ended December 31, 2023, 2024 and 2025 are as follows:
|  | 2023 |  |  | 2024 |  |  | 2025 |
Foreign currency related: |  |  |  |  |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |  |  |  |  |
Currency forwards |  | W | 36,890 |  |  |  | 1,734,704 |  |  |  | 273,413 |
Currency swaps |  |  | 135,712 |  |  |  | (1,739,525 | ) |  |  | (28,745 | )
Currency options |  |  | 1,355 |  |  |  | 4,392 |  |  |  | 7,388 |
|  |  | 173,957 |  |  |  | (429 | ) |  |  | 252,056 |
Exchange traded: |  |  |  |  |  |  |  |  |  |  |  |
Currency futures |  |  | (955 | ) |  |  | 804 |  |  |  | (3,258 | )
|  |  | 173,002 |  |  |  | 375 |  |  |  | 248,798 |
Interest rates related: |  |  |  |  |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate forwards and swaps |  |  | 181,987 |  |  |  | 115,234 |  |  |  | 187,839 |
Interest rate options |  |  | (2,886 | ) |  |  | (2,413 | ) |  |  | 1,476 |
|  |  | 179,101 |  |  |  | 112,821 |  |  |  | 189,315 |
Exchange traded: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate futures and others |  |  | (9,511 | ) |  |  | 2,253 |  |  |  | 152 |
|  |  | 169,590 |  |  |  | 115,074 |  |  |  | 189,467 |
Credit related: |  |  |  |  |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |  |  |  |  |
Credit swaps |  |  | 53,042 |  |  |  | 44,223 |  |  |  | (5,507 | )
Total return swaps |  |  | — |  |  |  | — |  |  |  | 9,912 |
|  |  | 53,042 |  |  |  | 44,223 |  |  |  | 4,405 |
Equity related: |  |  |  |  |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |  |  |  |  |
Equity swap and forwards |  |  | (19,934 | ) |  |  | (61,607 | ) |  |  | 30,008 |
Equity options |  |  | (159,324 | ) |  |  | 28,708 |  |  |  | 6,807 |
|  |  | (179,258 | ) |  |  | (32,899 | ) |  |  | 36,815 |
Exchange traded: |  |  |  |  |  |  |  |  |  |  |  |
Equity futures |  |  | 50,009 |  |  |  | (12,093 | ) |  |  | 9,935 |
Equity options |  |  | (13,929 | ) |  |  | 1,085 |  |  |  | (5,036 | )
|  |  | 36,080 |  |  |  | (11,008 | ) |  |  | 4,899 |
|  |  | (143,178 | ) |  |  | (43,907 | ) |  |  | 41,714 |
|  | 2023 |  |  | 2024 |  |  | 2025 |
Commodity related: |  |  |  |  |  |  |  |  |  |  |  |
Over the counter: |  |  |  |  |  |  |  |  |  |  |  |
Commodity swaps and forwards |  |  | 37,027 |  |  |  | (43,643 | ) |  |  | 26,502 |
Commodity options |  |  | 1,516 |  |  |  | — |  |  |  | — |
|  |  | 38,543 |  |  |  | (43,643 | ) |  |  | 26,502 |
Exchange traded: |  |  |  |  |  |  |  |  |  |  |  |
Commodity futures |  |  | 1,484 |  |  |  | 10,062 |  |  |  | (362 | )
|  |  | 40,027 |  |  |  | (33,581 | ) |  |  | 26,140 |
Hedge |  |  | 327,016 |  |  |  | 242,379 |  |  |  | (264,572 | )
|  | W | 619,499 |  |  |  | 324,563 |  |  |  | 245,952 |
Gain or loss on fair value hedges |
| i) | The amounts recognized in profit or loss and the related account categories arising from hedging ineffectiveness of fair value hedges for the years ended December 31, 2023, 2024 and 2025 are as follows:
|  | 2023 |
|  | Gains and losses on hedged items designated in fair value hedges |  |  | Gains and losses on hedging instruments designated as fair value hedges |  |  | Hedging ineffectiveness recognized in profit or loss (*2) |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk (*1) |  | W | (271,425 | ) |  |  | 282,835 |  |  |  | 11,410 |
Foreign exchange risk (*1) |  |  | 4,102 |  |  |  | (5,264 | ) |  |  | (1,162 | )
|  | W | (267,323 | ) |  |  | 277,571 |  |  |  | 10,248 |
|  | 2024 |
|  | Gains and losses on hedged items designated in fair value hedges |  |  | Gains and losses on hedging instruments designated as fair value hedges |  |  | Hedging ineffectiveness recognized in profit or loss (*2) |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk (*1) |  | W | (45,264 | ) |  |  | 42,787 |  |  |  | (2,477 | )
Foreign exchange risk (*1) |  |  | 44,094 |  |  |  | (46,382 | ) |  |  | (2,288 | )
Other price risk (*1) |  |  | (1,548 | ) |  |  | 1,109 |  |  |  | (439 | )
|  | W | (2,718 | ) |  |  | (2,486 | ) |  |  | (5,204 | )
|  | 2025 |
|  | Gains and losses on hedged items designated in fair value hedges |  |  | Gains and losses on hedging instruments designated as fair value hedges |  |  | Hedging ineffectiveness recognized in profit or loss (*2) |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk (*1) |  | W | (120,061 | ) |  |  | 138,277 |  |  |  | 18,216 |
Foreign exchange risk (*1) |  |  | 278 |  |  |  | 14,686 |  |  |  | 14,964 |
Other price risk (*1) |  |  | (4,357 | ) |  |  | 3,941 |  |  |  | (416 | )
|  | W | (124,140 | ) |  |  | 156,904 |  |  |  | 32,764 |
(*1) | The related account categories are presented in the amounts of interest rate swap assets and liabilities, currency forward assets and liabilities, and equity option liabilities.
(*2) | Hedging ineffectiveness represents the difference between the changes in fair value of the hedging instruments and the hedged items.
Due to the ineffectiveness of hedge of cash flow risk and hedge of net investment in foreign operations during the year |
| ii) | Due to the hedging ineffectiveness of cash flow risk and net investment in foreign operations for the years ended December 31, 2023, 2024 and 2025, the amounts recognized in the profit or loss and other comprehensive income are as follows:
|  | 2023 |
|  | Gains (losses) on hedges recognized in other comprehensive income |  |  | Hedging ineffectiveness recognized in profit or loss (*2) |  |  | Amounts reclassified from cash flow hedge reserve to profit or loss |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk (*1) |  | W | 99,268 |  |  |  | (512 | ) |  |  | (1,760 | )
Foreign exchange risk (*1) |  |  | (10,294 | ) |  |  | (7,069 | ) |  |  | (25,698 | )
Discontinuation of cash flow hedges |  |  | (5,531 | ) |  |  | — |  |  |  | 14,659 |
Hedge of net investments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange risk (*1) |  |  | (3,903 | ) |  |  | 3,673 |  |  |  | — |
|  | W | 79,540 |  |  |  | (3,908 | ) |  |  | (12,799 | )
|  | 2024 |
|  | Gains (losses) on hedges recognized in other comprehensive income |  |  | Hedging ineffectiveness recognized in profit or loss (*2) |  |  | Amounts reclassified from cash flow hedge reserve to profit or loss |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk (*1) |  | W | 89,293 |  |  |  | (5,034 | ) |  |  | (151 | )
Foreign exchange risk (*1) |  |  | 2,548 |  |  |  | (6,184 | ) |  |  | 210,424 |
Discontinuation of cash flow hedges |  |  | (39,621 | ) |  |  | — |  |  |  | 47,957 |
Hedge of net investments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange risk (*1) |  |  | (221,221 | ) |  |  | (1,191 | ) |  |  | — |
|  | W | (169,001 | ) |  |  | (12,409 | ) |  |  | 258,230 |
|  | 2025 |
|  | Gains (losses) on hedges recognized in other comprehensive income |  |  | Hedging ineffectiveness recognized in profit or loss (*2) |  |  | Amounts reclassified from cash flow hedge reserve to profit or loss |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk (*1) |  | W | (209,145 | ) |  |  | (8,743 | ) |  |  | 1,567 |
Foreign exchange risk (*1) |  |  | (35,688 | ) |  |  | 2,776 |  |  |  | (160,443 | )
Discontinuation of cash flow hedges |  |  | 1,532 |  |  |  | — |  |  |  | (28 | )
Hedge of net investments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange risk (*1) |  |  | 59,096 |  |  |  | 21,422 |  |  |  | — |
|  | W | (184,205 | ) |  |  | 15,455 |  |  |  | (158,904 | )
(*1) | The related account categories are presented in the amounts of interest rate swap assets and liabilities, currency forward assets and liabilities and borrowings.
(*2) | Hedging ineffectiveness represents the difference between the changes in fair value of the hedging instruments and the hedged items.
Nominal amounts and average hedge ratios for hedging instruments |
| (e) | Effect of hedge accounting on the consolidated financial statements, statement of comprehensive income, statement of changes in equity
| i) | Hedging purpose and strategy
The Group transacts with derivative financial instruments to hedge its interest rate risk, currency risk and stock price fluctuation risk arising from the assets and liabilities of the Group. The Group applies the fair value hedge accounting for the changes in the market interest rates, foreign exchange rates and stock price of the Korean won structured notes, foreign currency financial debentures, Korean won structured deposits, foreign currency investment receivables and beneficiary securities in foreign currency; and cash flow hedge accounting for forward interest rate, interest rate swaps, forward currency and currency swaps to hedge cash flow risk due to interest rates and foreign exchange rates of the Korean won debt, foreign currency debt, foreign currency structured deposits, the Korean won bonds and foreign currency bonds, etc. In addition, in order to hedge the exchange rate risk of the net investment in overseas business, the Group applies the net investment hedge accounting for foreign operations using currency forward and non-derivative financial instruments.
| ii) | The notional amounts and the average hedge ratios for hedging instruments as of December 31, 2024 and 2025 are as follows:
|  | 2024 |
|  | 1 year or less |  |  | 1~2 years |  |  | 2~3 years |  |  | 3~4 years |  |  | 4~5 years |  |  | More than 5 years |  |  | Total |
Interest rate risk: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notional values: |  | W | 910,440 |  |  |  | 2,621,365 |  |  |  | 1,943,818 |  |  |  | 2,350,027 |  |  |  | 1,161,927 |  |  |  | 4,231,840 |  |  |  | 13,219,417 |
Average price condition (*1) |  |  | 3.43 | % |  |  | 3.07 | % |  |  | 4.08 | % |  |  | 4.82 | % |  |  | 4.17 | % |  |  | 3.60 | % |  |  | 3.82 | %
Average hedge ratio: |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Exchange risk: (*2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notional values: |  | W | 4,319,632 |  |  |  | 2,421,806 |  |  |  | 3,072,483 |  |  |  | 2,870,442 |  |  |  | 1,059,147 |  |  |  | 447,703 |  |  |  | 14,191,213 |
Average hedge ratio: |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Other price risk: (*3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notional values: |  | W | — |  |  |  | — |  |  |  | 18,750 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18,750 |
Average hedge ratio: |  |  | — |  |  |  | — |  |  |  | 100 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 100 | %
| (*1) | Interest rate swaps consist of 3M CD, USD SOFR, 3M Euribor, and 3M AUD Bond.
| (*2) | The average exchange rates of net investment hedge instruments are USD/KRW 1,280.52, JPY/KRW 9.25, EUR/KRW 1,402.37, GBP/KRW 1,561.57, AUD/KRW 892.94, CAD/KRW 991.06, CNY/KRW 189.50, SEK/KRW 127.54.
| (*3) | The equity option, which has an exercise price of W 324,027.
|  | 2025 |
|  | 1 year or less |  |  | 1~2 years |  |  | 2~3 years |  |  | 3~4 years |  |  | 4~5 years |  |  | More than 5 years |  |  | Total |
Interest rate risk: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notional values: |  | W | 2,485,060 |  |  |  | 2,219,475 |  |  |  | 2,553,701 |  |  |  | 2,008,399 |  |  |  | 450,481 |  |  |  | 3,895,641 |  |  |  | 13,612,757 |
Average price condition (*1) |  |  | 1.86 | % |  |  | 1.60 | % |  |  | 1.75 | % |  |  | 1.73 | % |  |  | 1.14 | % |  |  | 0.42 | % |  |  | 1.34 | %
Average hedge ratio: |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Exchange risk: (*2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notional values: |  | W | 4,344,598 |  |  |  | 3,288,511 |  |  |  | 3,353,841 |  |  |  | 1,941,689 |  |  |  | 992,587 |  |  |  | 747,109 |  |  |  | 14,668,335 |
Average hedge ratio: |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
| (*1) | Interest rate swaps consist of 3M CD, USD SOFR, 3M USD Libor, 3M Euribor, 3M AUD Bond and 3M JPY TONAR.
| (*2) | The average exchange rates of net investment hedge instruments are USD/KRW 1,307.41 , JPY/KRW 9.43 , EUR/KRW 1,487.33 , GBP/KRW 1,568.02 , AUD/KRW 896.37 , CAD/KRW 999.37 and SEK/KRW 131.64 .
Effect of derivatives on statement financial position, statement of comprehensive income, statement of changes in equity |
| iii) | The effect of hedging derivatives on the consolidated statements of financial position, comprehensive income, and changes in equity as of December 31, 2023, 2024 and 2025 is as follows:
|  | 2023 |
|  | Notional amount |  |  | Carrying amount of assets (*) |  |  | Carrying amount of liabilities (*) |  |  | Changes in fair value in the period |
Fair value hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate forward and swap |  | W | 10,112,789 |  |  |  | 65,787 |  |  |  | 614,219 |  |  |  | 246,594 |
Currency forward |  |  | 308,117 |  |  |  | 2,949 |  |  |  | 791 |  |  |  | (327 | )
Cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  |  | 2,356,791 |  |  |  | 53,830 |  |  |  | 90,676 |  |  |  | 99,442 |
Currency swap |  |  | 4,448,030 |  |  |  | 111,024 |  |  |  | 99,093 |  |  |  | (21,649 | )
Currency forward |  |  | 1,150,734 |  |  |  | 12,593 |  |  |  | 30,925 |  |  |  | 2,170 |
Hedge of net investments in foreign operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency forward |  |  | 683,382 |  |  |  | 6,038 |  |  |  | 2,776 |  |  |  | 4,537 |
Borrowings |  |  | 1,466,795 |  |  |  | — |  |  |  | 1,462,329 |  |  |  | (4,767 | )
|  | 2024 |
|  | Notional amount |  |  | Carrying amount of assets (*) |  |  | Carrying amount of liabilities (*) |  |  | Changes in fair value in the period |
Fair value hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate forward and swap |  | W | 10,347,033 |  |  |  | 57,685 |  |  |  | 579,563 |  |  |  | 42,787 |
Currency forward |  |  | 429,939 |  |  |  | — |  |  |  | 39,395 |  |  |  | (46,382 | )
Equity options |  |  | 18,750 |  |  |  | — |  |  |  | 3,941 |  |  |  | 1,109 |
Cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  |  | 2,872,383 |  |  |  | 93,562 |  |  |  | 44,139 |  |  |  | 60,694 |
Currency swap |  |  | 7,993,851 |  |  |  | 539,015 |  |  |  | 181,413 |  |  |  | 314,114 |
Currency forward |  |  | 1,723,440 |  |  |  | 2,087 |  |  |  | 138,694 |  |  |  | (104,727 | )
Hedge of net investments in foreign operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency forward |  |  | 2,191,770 |  |  |  | 10,013 |  |  |  | 34,926 |  |  |  | (41,071 | )
Borrowings |  |  | 1,852,212 |  |  |  | — |  |  |  | 1,848,316 |  |  |  | (181,341 | )
|  | 2025 |
|  | Notional amount |  |  | Carrying amount of assets (*) |  |  | Carrying amount of liabilities (*) |  |  | Changes in fair value in the period |
Fair value hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate forward and swap |  | W | 10,339,461 |  |  |  | 45,898 |  |  |  | 431,007 |  |  |  | 138,277 |
Currency forward |  |  | 434,282 |  |  |  | 1,079 |  |  |  | 14,708 |  |  |  | 14,686 |
Equity options |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,941 |
Cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  |  | 3,273,296 |  |  |  | 31,076 |  |  |  | 196,244 |  |  |  | (214,598 | )
Currency swap |  |  | 9,059,478 |  |  |  | 521,120 |  |  |  | 344,888 |  |  |  | (218,169 | )
Currency forward |  |  | 1,898,541 |  |  |  | 1,104 |  |  |  | 161,596 |  |  |  | 34,038 |
Hedge of net investments in foreign operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency forward |  |  | 1,380,935 |  |  |  | 16,814 |  |  |  | — |  |  |  | 51,154 |
Borrowings |  |  | 1,895,100 |  |  |  | — |  |  |  | 1,891,783 |  |  |  | 29,364 |
| (*) | The related account categories are presented as interest rate swap assets / liabilities and currency forward assets / liabilities etc.
Effect of hedging items on statement financial position, statement of comprehensive income, statement of changes in equity |
| iv) | The effect of hedged items on the consolidated statements of financial position, comprehensive income, and changes in equity as of December 31, 2023, 2024 and 2025 is as follows:
|  | 2023 |
|  | Carrying amount of assets (*) |  |  | Carrying amount of liabilities (*) |  |  | Assets of Cumulative fair value hedge adjustment |  |  | Liabilities of Cumulative fair value hedge adjustment |  |  | Changes of fair value in the year |  |  | Cash flow hedge reserve |  |  | Foreign currency translation reserves |
Fair value hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk Borrowings and others |  | W | 685,340 |  |  |  | 9,224,390 |  |  |  | 41,643 |  |  |  | (579,315 | ) |  |  | (240,965 | ) |  |  | — |  |  |  | — |
Foreign exchange risk Securities in foreign currency |  |  | 544,706 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,313 |  |  |  | — |  |  |  | — |
Other price risk Loans |  |  | 5,809 |  |  |  | — |  |  |  | (1,548 | ) |  |  | — |  |  |  | (1,548 | ) |  |  | — |  |  |  | — |
Cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk Debentures in won and debentures in foreign currency |  |  | 641,750 |  |  |  | 1,029,542 |  |  |  | — |  |  |  | — |  |  |  | (11,068 | ) |  |  | 26,648 |  |  |  | — |
Foreign exchange risk Debentures in foreign currency and loans in foreign currency |  |  | 2,490,098 |  |  |  | 2,342,230 |  |  |  | — |  |  |  | — |  |  |  | 69,784 |  |  |  | (17,812 | ) |  |  | — |
Hedge of net investments in foreign operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange risk Net assets in foreign operation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,903 |  |  |  | — |  |  |  | (36,931 | )
|  | 2024 |
|  | Carrying amount of assets (*) |  |  | Carrying amount of liabilities (*) |  |  | Assets of Cumulative fair value hedge adjustment |  |  | Liabilities of Cumulative fair value hedge adjustment |  |  | Changes of fair value in the year |  |  | Cash flow hedge reserve |  |  | Foreign currency translation reserves |
Fair value hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk Borrowings and others |  | W | 996,275 |  |  |  | 9,167,678 |  |  |  | 11,271 |  |  |  | (540,967 | ) |  |  | (45,264 | ) |  |  | — |  |  |  | — |
Foreign exchange risk Securities in foreign currency |  |  | 480,273 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 44,094 |  |  |  | — |  |  |  | — |
Other price risk Loans |  |  | 5,809 |  |  |  | — |  |  |  | (1,548 | ) |  |  | — |  |  |  | (1,548 | ) |  |  | — |  |  |  | — |
Cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk Debentures in won and debentures in foreign currency |  |  | 357,441 |  |  |  | 749,708 |  |  |  | — |  |  |  | — |  |  |  | (3,449 | ) |  |  | 25,943 |  |  |  | — |
Foreign exchange risk Debentures in foreign currency and loans in foreign currency |  |  | 2,971,800 |  |  |  | 5,045,127 |  |  |  | — |  |  |  | — |  |  |  | 773,828 |  |  |  | (8,638 | ) |  |  | — |
Hedge of net investments in foreign operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange risk Net assets in foreign operation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 221,221 |  |  |  | — |  |  |  | 184,291 |
|  | 2025 |
|  | Carrying amount of assets (*) |  |  | Carrying amount of liabilities (*) |  |  | Assets of Cumulative fair value hedge adjustment |  |  | Liabilities of Cumulative fair value hedge adjustment |  |  | Changes of fair value in the year |  |  | Cash flow hedge reserve |  |  | Foreign currency translation reserves |
Fair value hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk Borrowings and others |  | W | 1,217,304 |  |  |  | 8,984,247 |  |  |  | (7,991 | ) |  |  | (373,328 | ) |  |  | (120,061 | ) |  |  | — |  |  |  | — |
Foreign exchange risk Securities in foreign currency |  |  | 380,113 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 278 |  |  |  | — |  |  |  | — |
Other price risk Loans |  |  | — |  |  |  | — |  |  |  | (5,905 | ) |  |  | — |  |  |  | (4,357 | ) |  |  | — |  |  |  | — |
Cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate risk Debentures in won and debentures in foreign currency |  |  | 438,011 |  |  |  | 349,941 |  |  |  | — |  |  |  | — |  |  |  | 2,303 |  |  |  | (187,801 | ) |  |  | — |
Foreign exchange risk Debentures in foreign currency and loans in foreign currency |  |  | 3,629,809 |  |  |  | 6,030,836 |  |  |  | — |  |  |  | — |  |  |  | 234,512 |  |  |  | (57,429 | ) |  |  | — |
Hedge of net investments in foreign operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange risk Net assets in foreign operation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (59,096 | ) |  |  | — |  |  |  | 125,194 |
| (*) | The related account categories are presented in the amounts of borrowings, bonds, and others.

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