6-K
Shinhan Financial Group Co Ltd (SHG)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 6-K
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the Month of February 2025
Commission File Number: 001-31798
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SHINHAN FINANCIAL GROUP CO., LTD.
(Translation of registrant's name into English)
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20, Sejong-daero 9-gil, Jung-gu, Seoul 04513, Korea (Address of principal executive offices)
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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
Shinhan Bank’s Board made a resolution to issue a KRW-denominated Write-down Contingent Capital Securities
On February 27, 2025, the board of directors of Shinhan Bank, our wholly-owned bank subsidiary, made a resolution to issue a KRW-denominated Write-down Contingent Capital Securities
Purpose of issuance: To maintain capital requirements under the Basel III
Details of issuance:
| Type of Securities | Write-down Contingent Capital Securities<br><br>(Basel 3 Compliant Additional Tier1 Capital) |
|---|---|
| Total Amount of Issuance Limit | KRW 400 billion |
| Maturity of Securities | Perpetual Securities with the conditions of <br>Call option after 5, 7 or 10 years from the issuance date and at every interest (dividend) payment date (1 or 3 months) following the first call date by the issuer. |
| Point of Non-Viability<br>Trigger Event | Under Article 2 of the Act on the Structural Improvement of the Financial Industry, the total amount of the contingent capital securities (including interests) will be written off without any prior consent or approval from related parties if the issuing company is designated as an insolvent financial institution. |
* The details of issuance and interest rate will be delegated to the CEO of Shinhan Bank.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Shinhan Financial Group Co., Ltd. | ||
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| (Registrant) | ||
| Date: February 27, 2025 | By: | /s/ CHUN Sang-yung |
| Name: CHUN Sang-yung | ||
| Title: Chief Financial Officer |