Revenue generation remains steady with non-interest income contributing 19.0% of total revenue in 2026Q1, supported by an improved efficiency ratio of 22.5%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 |
|---|
| Net Interest Income | 12.23T | 12.07T | 11.4T | 10.82T | 10.6T | 10.77T | 9.88T | 9.74T | 8.58T | 7.84T | 7.21T | 6.69T | 6.79T | 6.6T | 6.98T | 7.08T | 6.47T | 5.22T | 5.78T | 5.17T | 3.8T | 3.44T | 3.45T | 2.45T | 1.43T |
| NII Growth % | 27.49% | 5.82% | 5.4% | 2.09% | -1.6% | 8.97% | 1.49% | 13.49% | 9.4% | 8.85% | 7.66% | -1.43% | 2.8% | -5.37% | -1.42% | 9.38% | 23.96% | -9.66% | 11.78% | 36.17% | 10.48% | -0.46% | 41.13% | 71.06% | - |
| Net Interest Margin % | 1.5% | 1.54% | 1.54% | 1.56% | 1.59% | 1.68% | 1.63% | 1.76% | 1.87% | 1.84% | 1.82% | 1.81% | 2.01% | 2.12% | 2.29% | 2.46% | 2.41% | 2.05% | 2.21% | 2.33% | 2.27% | 2.24% | 2.49% | 1.71% | 2.21% |
| Interest Income | 28.59T | 28.58T | 29.21T | 27.58T | 20.11T | 14.72T | 14.77T | 15.71T | 13.57T | 11.8T | 11.24T | 11.13T | 12.06T | 12.59T | 14T | 13.78T | 12.91T | 12.6T | 14.73T | 12.16T | 8.48T | 7.41T | 7.45T | 5.59T | 3.74T |
| Interest Expense | 16.35T | 16.52T | 17.81T | 16.76T | 9.5T | 3.95T | 4.89T | 5.97T | 4.99T | 3.96T | 4.03T | 4.44T | 5.27T | 5.99T | 6.88T | 6.7T | 6.48T | 7.38T | 8.95T | 6.98T | 4.69T | 3.97T | 4T | 3.14T | 2.31T |
| Loan Loss Provision | 1.83T | 1.72T | 1.99T | 2.16T | 1.29T | 962.65B | 1.36T | 968.7B | -4.99T | -3.96T | -4.03T | -4.44T | -5.27T | -5.99T | -6.88T | -6.7T | -6.48T | -7.38T | -8.95T | -6.98T | -4.69T | -3.97T | -4T | -3.14T | -2.31T |
| Non-Interest Income | 6.21T | 6.1T | 6.17T | 6.22T | 4.45T | 11.03T | 10.95T | 10.79T | 2.32T | 2.8T | 2.26T | 2.27T | 788.73B | -189.64B | -1.39T | -3.95T | -1.5T | -1.68T | -4.38T | -2.24T | -940.55B | -1.3T | -1.98T | -1.97T | -1.27T |
| Non-Interest Income % | 17.86% | 17.6% | 17.43% | 18.41% | 18.14% | 42.83% | 42.56% | 40.72% | 14.58% | 19.17% | 16.72% | 16.97% | 6.14% | -1.53% | -10.99% | -40.2% | -13.16% | -15.37% | -42.35% | -22.61% | -12.47% | -21.25% | -36.09% | -54.46% | -51.38% |
| Total Revenue | 34.8T | 34.69T | 35.38T | 33.8T | 24.56T | 25.75T | 25.72T | 26.5T | 15.89T | 14.6T | 13.49T | 13.4T | 12.85T | 12.4T | 12.61T | 9.83T | 11.41T | 10.92T | 10.35T | 9.91T | 7.54T | 6.11T | 5.47T | 3.62T | 2.47T |
| Revenue Growth % | -5.11% | -1.95% | 4.66% | 37.61% | -4.62% | 0.12% | -2.92% | 66.75% | 8.86% | 8.18% | 0.65% | 4.32% | 3.64% | -1.69% | 28.31% | -13.84% | 4.47% | 5.49% | 4.4% | 31.46% | 23.43% | 11.61% | 51.26% | 46.68% | - |
| Non-Interest Expense | 9.47T | 9.52T | 9.55T | 8.91T | 7.42T | 15.25T | 14.72T | 14.65T | 9.2T | 9.41T | 9.15T | 9.04T | 8.77T | 8.36T | 8.49T | 4.74T | 11.41T | 10.92T | 10.5T | 9.91T | 7.54T | 6.11T | 5.47T | 72.91B | 747.35B |
| Efficiency Ratio | 27.21% | 27.44% | 26.98% | 26.37% | 30.19% | 59.22% | 57.22% | 55.28% | 57.89% | 64.48% | 67.81% | 67.42% | 68.25% | 67.46% | 67.35% | 48.19% | 100% | 100% | 101.44% | 99.94% | 100% | 100% | 100% | 2.01% | 30.29% |
| Operating Income | 7.14T | 6.93T | 6.03T | 5.96T | 6.37T | 5.58T | 4.75T | 4.91T | 9.42T | 4.49T | 7.15T | 7.5T | 8.02T | 8.51T | 9.94T | 10.72T | 3.09T | 8.93T | 2.18T | 3.69B | 2.03B | 2.67T | 2.3T | 3.69T | 919.85B |
| Operating Margin % | 20.53% | 19.98% | 17.04% | 17.65% | 25.92% | 21.68% | 18.48% | 18.54% | 59.27% | 30.76% | 53% | 55.94% | 62.41% | 68.64% | 78.85% | 109.07% | 27.08% | 81.82% | 21.02% | 0.04% | 0.03% | 43.68% | 42.01% | 102.01% | 37.28% |
| Operating Income Growth % | - | 14.93% | 1.08% | -6.31% | 14.02% | 17.46% | -3.21% | -47.85% | 109.72% | -37.21% | -4.63% | -6.5% | -5.77% | -14.42% | -7.24% | 247.1% | -65.43% | 310.64% | 58844.19% | 81.82% | -99.92% | 16.05% | -37.72% | 301.38% | - |
| Pretax Income | 7.14T | 6.93T | 6.03T | 5.96T | 6.37T | 5.58T | 4.75T | 4.91T | 4.47T | 3.8T | 3.17T | 3.14T | 2.87T | 2.68T | 3.23T | 4.34T | 3.43T | 1.57T | 2.18T | 2.99T | 2T | 2.65T | 2.15T | 548.15B | 909.69B |
| Pretax Margin % | 20.53% | 19.98% | 17.04% | 17.65% | 25.92% | 21.68% | 18.48% | 18.54% | 28.11% | 26.01% | 23.5% | 23.43% | 22.32% | 21.63% | 25.63% | 44.19% | 30.07% | 14.36% | 21.02% | 30.16% | 26.53% | 43.42% | 39.3% | 15.15% | 36.87% |
| Income Tax | 1.93T | 1.84T | 1.47T | 1.49T | 1.61T | 1.47T | 1.26T | 1.27T | 1.27T | 848.13B | 345.55B | 694.62B | 667.97B | 622.57B | 738.94B | 919.93B | 570.38B | 424.03B | 694.93B | 1.06T | 588.99B | 932.4B | 738.53B | 259.44B | 320.3B |
| Effective Tax Rate % | 26.99% | 26.62% | 24.4% | 24.93% | 25.31% | 26.35% | 26.42% | 25.84% | 28.4% | 22.34% | 10.9% | 22.12% | 23.29% | 23.21% | 22.86% | 21.18% | 16.63% | 27.05% | 31.94% | 35.42% | 29.43% | 35.15% | 34.33% | 47.33% | 35.21% |
| Net Income | 5.11T | 4.97T | 4.45T | 4.37T | 4.67T | 4.02T | 3.41T | 3.4T | 3.16T | 2.92T | 2.77T | 2.37T | 2.08T | 1.9T | 2.32T | 3.21T | 2.37T | 1.13T | 1.48T | 1.93T | 1.4T | 1.72T | 1.47B | 288.71B | 589.39B |
| Net Margin % | 14.67% | 14.33% | 12.58% | 12.92% | 18.99% | 15.61% | 13.27% | 12.85% | 19.87% | 19.99% | 20.57% | 17.66% | 16.2% | 15.35% | 18.42% | 32.7% | 20.79% | 10.38% | 14.31% | 19.47% | 18.6% | 28.16% | 0.03% | 7.98% | 23.89% |
| Net Income Growth % | 10.59% | 11.72% | 1.88% | -6.38% | 16.08% | 17.71% | 0.33% | 7.82% | 8.19% | 5.15% | 17.22% | 13.75% | 9.37% | -18.08% | -27.73% | 35.55% | 109.12% | -23.42% | -23.31% | 37.67% | -18.48% | 117169.72% | -99.49% | -51.02% | - |
| Net Income (Continuing) | 5.22T | 5.08T | 4.56T | 4.48T | 4.76T | 4.11T | 3.5T | 3.64T | 3.2T | 2.95T | 2.82T | 2.45T | 2.2T | 2.06T | 2.49T | 3.39T | 2.86T | 1.14T | 1.49T | 1.93T | 1.41T | 1.72T | 1.41T | 288.71B | 589.39B |
| EPS (Diluted) | 10583.46 | 9812.00 | 8441.26 | 8047.57 | 8498.00 | 7308.05 | 6653.97 | 7000.16 | 6664.69 | 6118.00 | 5736.00 | 4789.00 | 4195.00 | 3810.00 | 4681.00 | 6065.00 | 5076.00 | 1955.00 | 2955.00 | 4175.24 | 3584.27 | 4590.12 | 3403.01 | 981.81 | 1066.16 |
| EPS Growth % | 16.79% | 16.24% | 4.89% | -5.3% | 16.28% | 9.83% | -4.95% | 5.03% | 8.94% | 6.66% | 19.77% | 14.16% | 10.11% | -18.61% | -22.82% | 19.48% | 159.64% | -33.84% | -29.23% | 16.49% | -21.91% | 34.88% | 246.61% | -7.91% | - |
| EPS (Basic) | - | 9812.00 | 8441.00 | 8048.00 | 9123.81 | 7308.05 | 6653.97 | 7000.16 | 6664.69 | 6118.00 | 5736.00 | 4789.00 | 4195.00 | 3810.00 | 4681.00 | 6195.00 | 5175.00 | 1957.00 | 2993.00 | 4260.84 | 3584.27 | 4879.70 | 3797.15 | 991.79 | 1066.16 |
| Diluted Shares Outstanding | 482.43M | 496.53M | 506.23M | 519.21M | 508.78M | 534.05M | 500.34M | 477.35M | 473.65M | 474.2M | 474.2M | 474.2M | 474.2M | 474.2M | 474.2M | 488.92M | 488.92M | 476.22M | 432.39M | 416.88M | 391.32M | 374.46M | 354.84M | 294.13M | 276.33M |
Credit Provisioning Volatility
According to the provided financial data, Shinhan Financial Group's net interest income reached 3.0 trillion KRW in 2026Q1, reflecting a 5.9% growth rate that suggests a resilient core lending engine despite the persistent 0.4% net interest margin observed across the entire ten-quarter reporting period.
The stability of the net interest margin at 0.4% indicates that the bank is effectively managing its funding costs against asset yields, though it leaves little room for margin expansion in a static rate environment. Investors should monitor whether the recent NII growth acceleration is sustainable or merely a function of temporary loan volume expansion in the domestic market.
As reported in the quarterly financial statements, Shinhan Financial Group maintained an efficiency ratio of 22.5% in 2026Q1, which represents a significant improvement from the 38.4% peak observed in 2025Q4, suggesting that the bank successfully manages its non-interest expense base relative to total revenue generation.
The sharp fluctuations in the efficiency ratio, particularly the year-end spikes, appear to be driven by seasonal personnel costs or one-off regulatory contributions rather than structural operational inefficiency. Maintaining this ratio near the 22-25% range is critical for the bank to demonstrate operating leverage in a competitive Korean financial landscape.
Based on the latest income statement figures, Shinhan Financial Group recorded a provision expense of 495.6 billion KRW in 2026Q1, a figure that warrants close investigation given the historical volatility in credit costs, which reached as high as 759.7 billion KRW in 2023Q4 during periods of economic stress.
The variability in provision expenses suggests that management is actively adjusting its expected credit loss models in response to shifting macroeconomic forecasts for the Korean SME and household debt sectors. This proactive provisioning approach may protect the balance sheet, but it introduces significant quarterly earnings noise that complicates core profitability assessments.
Data from the most recent filings indicates that non-interest income contributed 1.7 trillion KRW in 2026Q1, representing 19.0% of total revenue, which highlights the bank's ongoing strategic effort to reduce its dependency on interest-rate-sensitive income streams through its diversified wealth management and credit card operations.
The ability to maintain a fee income contribution near the 20% threshold suggests that the non-banking ecosystem is providing a necessary revenue buffer. However, the sensitivity of these fees to market volatility and transaction volumes means that this segment may not fully offset potential declines in net interest income during a downturn.
Quick answers to the most common questions about buying SHG stock.
Shinhan Financial Group Co., Ltd. (SHG) is profitable, generating $4.97T in net income for the fiscal year ending 2025 with a net profit margin of 14.3%.
Shinhan Financial Group Co., Ltd. (SHG) reported an operating income of $6.93T, resulting in an operating profit margin of 20.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Shinhan Financial Group Co., Ltd. (SHG) generated $16.45T in gross profit for the year, representing a gross profit margin of 47.4%. This demonstrates the company's core pricing power and production efficiency.