Shinhan Financial Group Chair and CEO Jin Ok-dong met with investors in Japan to promote the banking group, highlighting strong earnings and plans to enhance corporate value, according to the firm’s announcement on Sunday.
During the three-day visit from Wednesday to Friday, Jin met institutional investors based in Japan such as Daiwa Securities, Mizuho Bank and SMBC Group, along with Japanese authorities such as the Financial Supervisory Agency and the Bank of Japan, assuring them of South Korea's market stability despite the political uncertainties.
Jin also shared the banking group's robust earnings and updates on its strategies to elevate its corporate value.
In 2024, Shinhan Bank, a key arm of Shinhan Financial Group, posted its largest-ever yearly profit, logging 3.69 trillion won ($2.56 billion) in net profit. The bank reclaimed its position as the country's top lender, outrunning its peers.
Led by the bank's strong performance, Shinhan Financial Group posted 4.51 trillion won in net profit last year, up 3.4 percent on-year. It came in second among the five top financial service providers here.
Shinhan Financial Group also announced plans to put in a total of 1.75 trillion won to boost its shareholder return, involving a 1.1 trillion won dividend payout and 650 billion won treasury share cancellation.
"Through the investor relation event and meetings, we were able to address foreign investors' concerns on the Korean economy and the capital market, and reaffirm their trust," Jin said.
"Shinhan will continue to communicate with foreign investors and promote the stability of the Korean capital market and the banking group's growth efforts based on it."
Since the end of last year, Shinhan Financial Group has been holding one-on-one meetings with global investors to reassure them of Korea's market stability, the firm explained.
silverstar@heraldcorp.com
