Shinhan Financial Group Strengthens Internal Controls and Shareholder Value Goals
Chairman Jin Ok-dong of Shinhan Financial Group has announced plans to strengthen internal controls in response to last year's ETF incident, aiming for sustainable growth. He underscored the importance of risk management and corporate value enhancement, as well as collaboration with financial authorities. His strategy focuses on maintaining stable operational efficiency and capital ratios to drive profitability-centric growth. Additionally, there is a plan to expand the asset management business through a 'one governance' system to increase non-interest income.
Jin set concrete targets to achieve a 10% return on equity and a 50% shareholder return rate, alongside reducing the number of shares issued by 50 million by 2027. These goals highlight the intention to maximize shareholder value through qualitative growth, raising expectations for how Shinhan will maintain a competitive edge in the financial sector.
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Jin Ok-dong's Letter to Shareholders… Reflecting on ETF Incident… Strengthening Internal Controls - SBS Biz[Jin Ok-dong, Chairman of Shinhan Financial Group.] Jin Ok-dong, Chairman of Shinhan Financial Group Holdings, stated that they are identifying issues in the internal control system and strongly implementing improvement measures based on deep reflection on last year's exchange-traded fund (ETF) liquidity provider (LP) incident. According to Shinhan Financial Group Holdings today (30th), Chairman Jin mentioned in a recent letter to shareholders 'sustainable…