Shinhan Financial Group Co Ltd (SHG) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. This is Cho Do Park, Head of IR at Sinan Financial Group. Thank you very much for joining the 2025 Q1 Earnings Presentation of Sinan Financial Group. Today we have our Group CFO, Sang Young Chun, Group CSO, Seok Hyun Go, Group CRO, Dong Geon Bang, Sinan Bank CFO, Jung Bin Lee, Sinan Car CFO, Hae Chang Park, Sinan Investment Security CFO, Jeong Eun-jung, and Sinan Life CFO, Song Hwan-ju, also attending. We will start with an update on the progress of the value-up plan that we had announced in July and give you some details of what we have in plan this year before taking you through our Q1 business results. After the presentation, we will open the floor and receive your questions. From now, our group CFO, Sangyoung Cheom, will take you through the presentation. Good afternoon. Thank you for joining the Sinan Financial Group 2025 Q1 earnings presentation. Before looking at our Q1 results, I would like to start from page 2 and explain the 2025 value of plan, which was publicly disclosed today. The 2025 value of plan is based on the results of the 2024 implementation assessment led by the BOD, as well as diagnosis of the appropriateness of existing targets and newly established near-term targets and execution plans for 2025. Looking back on 2024 performance, Group ROE fell YOY due to decrease in non-bank affiliate earnings, but CET1 ratio remained above 13% every quarter despite greater market volatility. That said, considering CET1 sensitivity to macro volatility and uncertainty, current management levels were found somewhat tight. In shareholder return, active share buyback last year reduced number of outstanding shares to less than 500 million shares as of end of last year, boosting our shareholder return ratio to 40.2%. Based on such performance review...