Shinhan Financial Group Co., Ltd. (SHG)

KR — Financial Services Sector
Peers: USB  TFC  KB  FITB  MTB  FCNCA  HBAN 

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News

Shinhan Financial: Focus On Q1 Earnings And Peer Valuation Gap
SHG
Published: April 15, 2025 by: Seeking Alpha
Sentiment: Positive

I continue to rate SHG as a buy after previewing its results and doing a peer comparison exercise. Shinhan is expected to deliver positive earnings growth again in the first quarter of this year, in contrast with its bottom-line contractions for both 4Q24 and 1Q24. The stock is trading at a huge discount to its peer KB Financial based on the P/NAV metric, which I view as unjustified.

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image for news Shinhan Financial: Focus On Q1 Earnings And Peer Valuation Gap

About Shinhan Financial Group Co., Ltd. (SHG)

  • IPO Date 2003-09-17
  • Website https://www.shinhangroup.com
  • Industry Banks - Regional
  • CEO Ok-Dong Jin
  • Employees 189

Shinhan Financial Group Co., Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Life Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services. The company also provides corporate banking services, such as investment banking, real estate financing, overseas real estate and development project financing, infrastructure and structured financing, equity/venture investments, mergers and acquisitions consulting; securitization and derivatives services comprising securities and derivative products, and foreign exchange trading; and working capital loans and facilities loans. In addition, it is involved in treasury and investment activities in international capital markets consisting of foreign currency-denominated securities trading, foreign exchange trading and services, trade-related financial services, international factoring services, and foreign banking operations. Further, the company offers trust account management, securities brokerage, and asset management services, as well as leasing and equipment financing, savings banking, loan collection and credit reporting, collective investment administration, private equity investment, and financial system development services. As of December 31, 2021, it operated a network of 784 service centers; 5,234 ATMs; 7 cash dispensers; and 85 digital kiosks. Shinhan Financial Group Co., Ltd. was founded in 1982 and is headquartered in Seoul, South Korea.