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Photo = Yonhap news |
[Alpha Biz= Paul Lee] Shinhan Financial Group has announced plans to buy back and retire KRW 3 trillion worth of its own shares by 2027, while distributing KRW 1.1 trillion in dividends this year. The move is aimed at enhancing shareholder value through global business expansion and improved non-interest income.
According to financial investment industry sources on Sunday, Shinhan Financial Group posted a net income of KRW 4.4502 trillion in 2024, slightly up from KRW 4.368 trillion in 2023. Despite the challenges posed by a steep rise in the won-dollar exchange rate last year, the group maintained a Common Equity Tier 1 (CET1) ratio of 13.06%, drawing attention from the financial sector for its stable risk management and profit growth.
Shinhan is also pushing forward with its “Sustainable Shinhan” strategy, which includes expanded social contribution initiatives and a firm commitment to its value-up plan. In July 2023, the group unveiled a roadmap targeting a 10% return on equity (ROE), a 50% total shareholder return ratio, and a reduction of 50 million shares by 2027.
With this plan, Shinhan aims to increase per-share value by reducing its total number of outstanding shares to 450 million through a share repurchase and retirement program exceeding KRW 3 trillion.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
