Shinhan Financial Group Co., Ltd. (SHG) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

October 24, 2022 9:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Park Cheol Woo

Good morning, I am Park Cheol Woo, head of IR. We are conducting today's earnings presentation. As we are on digital platforms, [Indiscernible] Shinhan Financial Group IR YouTube channel and the Zoom app.

As we have announced last quarter, the new Shinhan Financial Group IR YouTube channel, those of you who have missed the live streaming today, will be able to find the updated Korean and English presentation, so please subscribe to our channel.

Before starting today's earnings presentation, a brief explanation on how to log in. for YouTube Live channel will enable the participants to watch the Korean presentation and if you have questions, please log on to the Zoom app. Also, the YouTube channel will only stream to Korean presentations, so if you want to listen to English, log on to zoom and click English for the translation. For more details, please refer to our homepage www.shinhangroup.com.

Now, we will begin the 2022 Q3 Earnings Presentation of Shinhan Financial Group. In today's presentation we have with us our main presenter, CFO, Lee Tae Kyung of the Group; the Group CMO, Heo Young-Taeg; the Group CRO, Bang Dong-Kwon; the Group CDO, Kim Myoung Hee; the Group CSSO, Ko Seok Hon; from Shinhan Bank CFO, Jung Sang Hyuk; Shinhan Card CFO, Moon Dong Kwon; Shinhan Financial Investment CFO, Keum Sung Weon; and finally; Shinhan Life CFO, Park Kyoung Won.

In order to provide detailed answers to our investors questions, we like to give the opportunity to as many -- as many people as possible to ask questions. Today we'll invite CFO, Lee Tae Kyung for the business results of Q3 2022. And then CRO, Bang Dong Kwon will speak on the Group's risk management; and the achievement of digital sector will be presented by CDO, Kim Myoung Hee; and then we'll proceed to a Q&A.

And now we will invite our CFO, Lee Tae Kyung for the earnings presentation of Q3 2022.

Lee Tae Kyung

Good morning. I am Lee Tae Kyung, the CFO of Shinhan Financial Group. First of all, I'd like to thank everyone for taking part in the earnings presentation for Q3 of 2022 despite your busy schedules.

I'd like to walk you through the highlights of this quarter on page four and then go into the details of the business results for Q3 of the Group. Page four, in Q3 of 2022, the Group's cumulative net income posted KRW4,315.4 billion, posting solid results despite the deteriorating external environment.