 Shinhan Financial Group President and CEO Shin Sang-hoon, third from left, plants vegetables with Shinhan executives and employees during a volunteer activity at the Hongeun Social Welfare Center in Seodaemun, Seoul, on April 22. / Courtesy of Shinhan Financial Group |
The financial industry is expecting new competition this year, amid the strengthening of regulations, and convergence between sectors. Shinhan Financial Group, dubbed by some as the most successful financial business model in the country, is focusing on achieving sustainable growth.
Shinhan Financial Group marked 1.3 trillion won net profit in 2009, with 256.2 billion won of that being in the fourth quarter. Its net interest margin stood at 3.34 percent, recovering to its 2008 level. Shihan explained that good performances by non-banking subsidiaries helped it most.
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