6-K

6-K 1 6k_260814_1h2026.htm 6-K 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

—————————————

FORM 6-K

—————————————

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

–––––––––––––––––––––

For the Month of August 2026

Commission File Number: 001-31798

———————————

SHINHAN FINANCIAL GROUP CO., LTD.

(Translation of registrant's name into English)

20, Sejong-daero 9-gil, Jung-gu, Seoul 04513, Korea
(Address of principal executive offices)

—————————————

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  Form 40-F 

INDEX


No.	Description
1. 2.	Summary of 1H 2026 Business Report Exhibit 99.1 Shinhan Financial Group Review Report for the 1H 2026 (Consolidated)
3.	Exhibit 99.2 Shinhan Financial Group Review Report for the 1H 2026 (Separate)

Summary of 1H 2026 Business Report

On August 14, 2026, Shinhan Financial Group (“SFG”) filed its 1H 2026 Business Report (the “Business Report”) with the Financial Services Commission of Korea and the Korea Exchange pursuant to the Financial Investment Services and Capital Market Act of Korea. This is the summary of the Business Report translated into English. Non-material or previously disclosed information are omitted or abridged.

The financial information in this report has been prepared in accordance with Korean International Financial Reporting Standards.

Table of Contents

1. Introduction of the Group

2. Business Results

3. Other Financial Information

4. Independent Auditor

5. Corporate Governance

6. Major Shareholders and Market Price Information of our Common Shares and ADRs

7. Directors, Executive Officers and Employees

8. Related Party Transactions

9. Internal Control

10. Contingencies

11. Material Information after the reporting period

1. Introduction of the Group

Business Objective

Shinhan Financial Group is a financial holding company that was established in September 1, 2001, through a stock transfer from the Shinhan Bank, Shinhan Securities Co., Ltd., Shinhan Capital Co., Ltd., and Shinhan BNP Paribas Asset Management Co., Ltd. The primary business objectives of the company include the control and management of financial business, as well as financial support for its subsidiaries.

On September 10, 2001, the company was listed on the Korea Stock Exchange and on September 16, 2003, the company was registered with the U.S. Securities and Exchange Commission(SEC), where its American Depositary Shares(ADSs) were listed on the New York Stock Exchange(NYSE).

Company History (from Jan. 2010 through the reporting date)

▪

Jan. 2010: Shinhan Data System became a direct subsidiary of SFG

▪

Aug. 2010: Shinhan Macquarie Financial Advisory was disaffiliated from SFG

▪

Feb. 2011: Shinhan BNP Paribas Asset Management (Hong Kong) Ltd. became an indirect subsidiary of SFG

▪

Dec. 2011: Shinhan Savings Bank became a direct subsidiary of SFG

▪

Nov. 2012: Shinhan AITAS Co., Ltd. joined SFG as a direct subsidiary

▪

Jan. 2013: Yehanbyoul Savings Bank joined SFG as a direct subsidiary

▪

Apr. 2013: Shinhan Savings Bank merged with Yehanbyoul Savings Bank. As a result of the integration, Shinhan Savings Bank has been liquidated and Yehanbyoul Savings Bank now exists under the name of “Shinhan Savings Bank” as an existing legal entity

▪

Nov. 2014: LLP MFO Shinhan Finance (Kazakhstan) became an indirect subsidiary of SFG

▪

Jul. 2015: Shinhan Securities Vietnam Co., Ltd became an indirect subsidiary of SFG

▪

Oct. 2015: Banco Shinhan de Mexico became an indirect subsidiary of SFG

▪

Nov. 2015: PT Bank Shinhan Indonesia became an indirect subsidiary of SFG

▪

Dec. 2015: PT. Shinhan Indo Finance became an indirect subsidiary of SFG

▪

Dec. 2015: PT Centratama Nasional Bank became an indirect subsidiary of SFG

▪

Mar. 2016: Shinhan Microfinance Co., Ltd. became an indirect subsidiary of SFG

▪

Jul. 2016: PT Shinhan Securities Indonesia became an indirect subsidiary of SFG

▪

Dec. 2016: Launched new integrated PT Bank Shinhan Indonesia

▪

Oct. 2017: Established Shinhan REITs (Real Estate Investment Trusts) Management Co.,Ltd. as SFG subsidiary

▪

Dec. 2017: Shinhan K REITs became an indirect subsidiary of SFG

▪

Apr. 2018: Shinhan Alpha REITs (formerly known as Shinhan K REITs) was disaffiliated from SFG’s indirect subsidiary due to a change in the largest shareholder

▪

May 2018: GX SHINHAN INTERVEST 1st PEF became an indirect subsidiary of SFG

▪

May 2018: Shinhan DS Vietnam became an indirect subsidiary of SFG

▪

Sep. 2018: Shinhan Alpha Yongsan REIT became an indirect subsidiary of SFG

▪

Oct. 2018: SFG entered into a share purchase agreement with Asia Trust Co., Ltd. for the 100% acquisition.

▪

Feb. 2019: Orange Life Insurance, Ltd. joined SFG as a direct subsidiary (acquisition from majority shareholders)

▪

May 2019: Asia Trust Co., Ltd. joined SFG as a direct subsidiary

▪

Aug. 2019: Shinhan AI Co., Ltd. incorporated and joined as a direct subsidiary

▪

Jan. 2020: Orange Life Insurance, Ltd. became a wholly-owned subsidiary (acquisition of remaining interests by effecting a comprehensive stock exchange)

▪

Sep. 2020: Neoplux Co., Ltd. joined SFG as a direct subsidiary (acquisition from majority shareholder)

▪

Dec. 2020: SFG acquired the remaining interests in Neoplux by effecting a small-scale stock exchange and hence Neoplux has become our wholly owned subsidiary and was renamed to Shinhan Venture Investment.

▪

Jan. 2021: SFG acquired the remaining 35% interests in Shinhan BNPP Asset Management and it became a wholly-owned subsidiary. Shinhan BNPP Asset Management changed its legal name to Shinhan Asset Management.

▪

May. 2021: Shinhan Naotic No. 1 Private Equity Joint Venture joined SFG as a direct subsidiary as a sub-subsidiary.

▪

May. 2021: JS Shinhan Private Equity Limited joined SFG as a direct subsidiary as a sub-subsidiary.

▪

July. 2021: Integrated Shinhan Life Insurance Co., Ltd launched after the merger between Shinhan Life Insurance and Orange Life Insurance, wholly-owned subsidiaries of Shinhan Financial Group.

▪

Jan. 2022: Shinhan Asset Management Co., Ltd. and Shinhan Alternative Investment Management Inc. have merged to form a holding company named Shinhan Asset Management Co., Ltd.

▪

May 2022: SFG acquired the remaining 40% interests in Asia Trust. Co., Ltd. and it became a wholly-owned subsidiary. Asia Trust Co., Ltd. changed its legal name to Shinhan Asset Trust.

▪

Jun. 2022: SFC acquired 94.54% of the total issued shares of Shinhan EZ General Insurance, Ltd (formerly, BNP Paribas Cardif Life Insurance Ltd.) after the Financial Services Commission approved the incorporation of subsidiary

▪

July 2022 Shinhan Credit Information Co., Ltd. (hereinafter “Shinhan Credit Information”) has been dissolved from the list of group’s direct subsidiaries and became an indirect subsidiary of SFG.

▪

Oct 2022 Shinhan Financial Investment Securities Co., Ltd. has changed its legal name to Shinhan Securities Co., Ltd.

▪

July 2024 Shinhan AI has been dissolved from the list of group’s direct subsidiaries.

Overview of the Business Group

Principal(Direct) Subsidiaries under Korean Law (as of June 30, 2026)


Subsidiaries		Ownership by SFG
Shinhan Bank		100.0%
Shinhan Card		100.0%
Shinhan Securities		100.0%
Shinhan Life Insurance 1)		100.0%
Shinhan Capital		100.0%
Shinhan Asset Management 2)		100.0%
Jeju Bank 3)		64.0%
Shinhan Savings Bank 4)		100.0%
Shinhan Asset Trust 5)		100.0%
Shinhan DS		100.0%
Shinhan Fund Partners 6)		99.8%
Shinhan REITs Management		100.0%
Shinhan AI9)		-
Shinhan Venture Investment 7)		100.0%
Shinhan EZ General Insurance 8)		91.7%
SHC Management		100.0%
1) Shinhan Life Insurance and Orange Life Insurance merged on July 1st, 2021 and became Shinhan Life Insurance Co., Ltd 2) On January 15, 2021, SFG acquired remaining 35% interests in Shinhan BNP Paribas Asset Management and it became our wholly-owned subsidiary (changed its legal name to Shinhan Asset Management) 3) Jeju Bank is currently listed on the Korea Exchange. 4) On January 30, 2013, Yehanbyoul Savings Bank joined SFG as a direct subsidiary. On April 1, 2013, Shinhan Savings Bank merged with Yehanbyoul Savings Bank, both of which were direct subsidiaries of Shinhan Financial Group. As a result of the integration of the two savings banks, the previous Shinhan Savings Bank has been liquidated and is thus no longer a subsidiary of Shinhan Financial Group and instead, Yehanbyoul Savings Bank now exists under the name of “Shinhan Savings Bank” as an existing legal entity constituting a member of Shinhan Financial Group. 5) The Group has acquired remaining shares of Asia Trust Co., Ltd and it became its wholly-owned subsidiary. Asia Trust Co., Ltd has changed its name to Shinhan Asset Trust Co., Ltd. 6) On November 30, 2012, Shinhan AITAS Co., Ltd. joined SFG as a direct subsidiary. Prior to November 30, 2012, Shinhan AITAS was an indirect subsidiary of SFG under Shinhan Bank, a wholly-owned bank subsidiary of SFG. On April 03, 2023, Shinhan AITAS changed its legal name to Shinhan Fund Partners. 7) On January 11, Neoplux changed its legal name to Shinhan Venture Investment. 8) On June 30, 2022, SFG acquired remaining 94.54% stake from BNP Paribas Cardiff and it became our wholly-owned subsidiary (changed its legal name to Shinhan EZ General Insurance) On November 03,2022, KT and Douzone Bizon acquired 9.9% and 5% shares of Shinhan EZ General Insurance, respectively. 9) On July 15, 2024, we announced the liquidation and dissolution of Shinhan AI. Co., Ltd. and accordingly Shinhan AI. Co., Ltd. is no longer a subsidiary of SFG.

Indirect subsidiaries held through direct subsidiaries (as of the reporting date)


Direct Subsidiaries	Indirect Subsidiaries	Ownership by the Parent
Shinhan Bank	Shinhan Bank America	100.0%
	Shinhan Bank Japan 1)	100.0%
	Shinhan Bank Europe	100.0%
	Shinhan Bank Cambodia	97.5%
	Shinhan Bank Kazakhstan	100.0%
	Shinhan Bank China Limited	100.0%
	Shinhan Bank Canada	100.0%
	Shinhan Bank Vietnam	100.0%
	Banco Shinhan de Mexico	99.9%
	PT Bank Shinhan Indonesia	99.0%
Shinhan Card	LLP MFO Shinhan Finance	70.6%
	PT. Shinhan Indo Finance	76.3%
	Shinhan Microfinance Co., Ltd.	100.0%
	Shinhan Vietnam Finance Co. Ltd.	100.0%
	Shinhan Credit Information Co.Ltd	100.0%
Shinhan Securities	Shinhan Securities Hong Kong	100.0%
	Shinhan Securities Vietnam Co., Ltd	100.0%
	PT Shinhan Sekuritas Indonesia	99.0%
	Shinhan Praxis K-Growth Global Private Equity Fund	14.2%
	Shinhan SKS Corporate Financial Stabilization PEF	9.6%
	Atomos Specialty No.1 PEF	10.0%
	Shinhan Sierra Mobility Shared-Growth Private Debt Fund	7.0%
Shinhan Life Insurance	Shinhan Financial Plus	100.0%
	Shinhan Life Care Co., Ltd.	100.0%
	Shinhan Life Insurance Vietnam Limited Liability Company	100.0%
Shinhan Capital	Shinhan-We Venture Debt Fund	34.5%
	Shinhan SCLowy No.1 Private Credit Fund	31.4%
Shinhan Asset Management	JS Shinhan Private Equity Fund	0.1%
	Shinhan QED Fund I	8.4%
Shinhan DS	Shinhan DS Vietnam Co. Limited	100.0%
Shinhan Venture Investment	Neoplux 3rd PEF	10.0%
	Shinhan Rio Green PEF	0.4%
	Shinhan Helio Black PEF	19.7%
1) SBJ DNX: SBJ Bank own 90% in the aggregate.

Credit Ratings Ratings (as of June 30, 2026)


Date	Types of Issuance	Credit Rating	Rating Company (Rating Range)
2026.01.23	Debentures	AAA	Korea Rating(AAA~D) / KIS Rating(AAA~D) / NICE Investors Service(AAA~D)
2026.02.24	Debentures	AAA	Korea Rating(AAA~D) / KIS Rating(AAA~D) / NICE Investors Service(AAA~D)
2026.03.03	Write-down Contingent Capital Securities	AA-	Korea Rating(AAA~D) / KIS Rating(AAA~D) / NICE Investors Service(AAA~D)
2026.03.12	Debentures	AAA	Korea Rating(AAA~D) / KIS Rating(AAA~D) / NICE Investors Service(AAA~D)
2026.04.16	Debentures	AAA	Korea Rating(AAA~D) / KIS Rating(AAA~D) / NICE Investors Service(AAA~D)
2026.06.22	Debentures	AAA	Korea Rating(AAA~D) / KIS Rating(AAA~D) / NICE Investors Service(AAA~D)
2026.06.24	Debentures	AAA	Korea Rating(AAA~D) / KIS Rating(AAA~D) / NICE Investors Service(AAA~D)

Capital Structure

Number of Shares (as of June 30, 2026)


Types of Shares		Number of Shares
Number of shares authorized for issuance		1,000,000,000
Number of common shares issued (1) (3)		474,654,361
Number of preferred shares issued		-
Total outstanding shares		474,654,361
Treasury stocks (2)		5,204,123
Total outstanding shares with voting rights		469,450,238
Treasury stocks per total outstanding shares ratio		1.10
1) SFG issued 8,232,906 shares of common stock in relation to a comprehensive stock exchange between SFG and Orange Life Insurance on January 28, 2020. On September 29, 2020, SFG had a paid-in capital increase and issued 39,130,000 common shares (third-party allocation). On December 30, 2020, SFG issued 72,719 shares of common stock in relation to a small-scale stock exchange between SFG and Neoplux. 2) SFG acquired treasury shares through the acquisition of 1 fractional shares as a result of a share exchange. 3) SFG canceled treasury shares of 5,035,658 on June 01, 2020, 3,665,423 on April 25, 2022, 4,149,262 on November 23, 2022, 3,676,470 on March 28,2023, 4,243,281 on June 16, 2023, 2,842,929 on August 31, 2023, 2,744,718 on December 27, 2023, 3,366,257 on March 22, 2024, 5,947,889 on November 1, 2024, 7,603,260 on April 29, 2025, 10,347,131 on June 26,2025, and 10,840,573 on February 6, 2026 after completion of share repurchase program. Capital does not change due to the cancellation of acquired stocks within the range of dividend payable income.

Dividends

On July 26, 2024, we announced a value-up plan and set 2027 as the target year for achieving the following key targets:

10% of ROE

50% of shareholder return ratio

Reduction of the total issued shares by 50 million shares

According to the assessment results of the implementation of the value-up plan in 2025, we maintained a stable CET1 ratio exceeding 13%. Our ROE improved by 67 basis points year-on-year, reaching 9.11%, and our shareholder return ratio exceeded the targeted 50%, reaching 50.2%. We also reduced the number of our issued and outstanding shares by approximately 25 million by January 2026, demonstrating solid progress in implementing the plan.

We have now set new targets of the value-up plan and advanced its execution methodology, taking into account changes in the overall environment – early achievement of the original targets including the shareholder return ratio, the enactment of legislation on separate taxation of dividend income, and the trend of PBR improvement among domestic banking and financial holding companies. This new value-up plan is named as “Shinhan Value-Up +++ (Triple Plus).” Each year, we will set out our goals for the next three years based on an annual review of the appropriateness of our targets.

- New Targets: While maintaining the existing 2027 targets, we will provide updated guidance for the next three-year period annually. In addition, we will present and communicate principles for the allocation between growth and shareholder returns, as well as a formula for the shareholder return ratio.

10% or more of ROE (target range 10–12%);

50% or more of the shareholder return ratio (presenting a predictable shareholder return policy based on the above formula); and

13% or more of the CET1 ratio (stable management in line with regulatory and market environment).

To achieve the above goals, we will advance the execution methodology while focusing on the following strategic priorities:

Improving the achievability of ROE targets by strengthening the ROTCE-ROC value chain, which is our unique methodology; and

Reviewing the shareholder return mix strategies in consideration of tax reforms and the PBR level.

With the restructuring of the value-up plan, we aim to enhance core profitability at a fast pace based on a stable CET1 ratio, while implementing more sustainable and predictable growth and shareholder return policies.

This value-up plan was adopted by resolution of the Board of Directors on April 23, 2026. We will continue to assess the progress of the implementation and communicate any updates or changes to this plan after deliberation and resolution by the Board of Directors.

For further details regarding the Company’s Corporate Value-up Plan, please refer to the voluntary disclosure titled ‘2026 Value-up Plan of Shinhan Financial Group Co., Ltd’ announced on April 23, 2026.

2026 Quarterly Dividend Record Dates and Expected Payment Dates


Quarter	Dividend Record Date	(Expected) Payment Date
Q1 2026	April 30, 2026	May 29, 2026
Q2 2026	July 30, 2026	August 28, 2026
Q3 2026	November 3, 2026	November 27, 2026

Note) The dividend amount for each quarter will be determined at the Board meeting held before each respective record date. The expected payment dates may subject to change based on consultations with relevant institutions.


		(KRW million)
Items	1H 2026 (Jan. 1 ~ Jun. 30)	FY2025 (Jan. 1 ~ Dec. 31)	FY2024 (Jan. 1 ~ Dec. 31)
Par value per share (Won)	5,000	5,000	5,000
(Consolidated) Net Income	3,442,729	4,971,561	4,450,177
(Separate) Net Income	2,343,149	2,385,457	1,619,867
(Consolidated) Earnings per share (Won)	7,075	9,812	8,441
Total Cash dividends	696,144	1,245,730	1,088,042
Total Stock dividends	-	-	-
(Consolidated) Cash dividend payout ratio (%)	20.22	25.06	24.45
Cash dividend yield (%) – common shares	1.49	3.01	4.26
Cash dividend yield (%) – preferred shares	-	-	-
Stock dividend yield (%)	-	-	-
Cash dividend per share (Won) – common shares	1,480	2,590	2,160
Cash dividend per share (Won) – preferred shares	-	-	-
Stock dividend per share	-	-	-

2. Business Results

Operating Results


		(KRW billion)
	1H 2026 (Jan. 1 ~ Jun. 30)		FY 2025 (Jan. 1 ~ Dec. 31)	FY 2024 (Jan. 1 ~ Dec. 31)
Net interest income	6,159		11,695	11,402
Interest income	14,354		27,989	29,209
Interest expense	8,196		16,294	17,807
Net fees and commission income	2,130		2,921	2,715
Fees and commission income	3,024		4,564	4,295
Fees and commission expense	895		1,643	1,581
Net insurance income	-1,958		-136	884
Insurance income	1,927		3,611	3,393
Insurance expense	3,885		3,746	2,509
Net gain(loss) on securities and FX trading/derivatives	3,567		3,134	2,038
Provision for credit loss and impairment loss	-950		-2,012	-2,104
Net other operating income(expense)	-1,101		-2,176	-2,360
General and administrative expenses	3,216		6,403	6,116
Net operating income	4,631		7,023	6,459
Equity method income	51		221	-24
Other non-operating income(expense), net	55		-316	-406
Profit before income taxes	4,737		6,929	6,029
Income tax expense	1,242		1,845	1,471
Consolidated net profit	3,496		5,085	4,558
Net profit attributable to equity holders of the Group	3,443		4,972	4,450
Net profit attributable to non-controlling interest	53		113	108
1) Some of the totals may not sum due to rounding numbers.

Source and Use of Funds


Consolidated Basis (KRW billion, %)		1H 2026				FY 2025				FY 2024
		Jan. 01 ~ Jun. 30				Jan. 01 ~ Dec. 31				Jan. 01 ~ Dec. 31
		Average Balance1)	Propor-tions (%)	Interest Paid	Interest Rate (%)	Average Balance1)	Propor-tions (%)	Interest Paid	Interest Rate (%)	Average Balance1)	Propor-tions (%)	Interest Paid	Interest Rate (%)
Source	Deposits	463,276.0	56.9	4,702.8	2.1	430,736.9	56.6	9,202.3	2.1	403,986.6	55.9	10,220.8	2.5
	Borrowings	57,595.0	7.1	770.4	2.7	52,442.2	6.9	1,534.8	2.9	54,754.3	7.6	1,862.4	3.4
	Debt Securities Issued	90,751.7	11.1	1,562.5	3.5	91,752.3	12.1	3,347.4	3.7	87,474.4	12.1	3,422.0	3.9
	Other Liabilities	141,463.9	17.4	-	-	126,732.1	16.6	-	-	119,008.3	16.5	-	-
	Total Liabilities	753,086.6	92.5	-	-	701,663.5	92.1	-	-	665,223.6	92.0	-	-
	Total Stockholder's Equity	61,455.5	7.5	-	-	59,862.9	7.9	-	-	57,655.6	8.0	-	-
	Total Liabilities & SE	814,542.1	100.0	-	-	761,526.4	100.0	-	-	722,879.2	100.0	-	-
Use	Cash & Due from Banks	43,095.9	5.3	428.4	2.0	42,566.8	5.6