Shinhan Financial Group (055550) Q3 2026 earnings summary

Executive summary

• 3Q26 net income was KRW 1.58tn, down 12.9% QoQ amid macro uncertainty and difficult capital markets; 9M net income rose 12.7% YoY to KRW 5.03tn.

• Annualized ROE was 11.94% and ROTCE 13.39%, up 0.88pp and 0.89pp YoY, respectively.

Financial highlights

• 9M operating income before expenses grew 8.0% YoY to KRW 12.78tn; 3Q26 fell 13.2% QoQ to KRW 3.98tn.

• 9M interest income increased 7.9% YoY to KRW 9.35tn; 3Q26 interest income grew 1.8% QoQ to KRW 3.19tn.

• 9M non-interest income rose 8.2% YoY to KRW 3.43tn, but fell 45.5% QoQ to KRW 790.2bn on weaker trading and securities valuation losses.

• 3Q26 operating income was KRW 2.39tn, down 17.9% QoQ; credit provisions rose 11.2% QoQ to KRW 486.3bn.

Outlook and guidance

• Remained on track to achieve the Value-Up target; annual credit cost ratio remained within the target range.

• Targeted a higher FY26 year-end cash dividend, subject to capital adequacy, earnings and shareholder return ratio.