Shinhan Financial Group Reports 10.9% Increase in Q3 Net Profit

Shinhan Financial Group has announced a significant increase in its net profit for the third quarter of the year. The financial institution reported a net income of 1.6 trillion won (approximately $1.2 billion), marking a 10.9% rise compared to the same period last year.

The increase in profit is attributed to a boost in interest income, which grew by 8.3% year-on-year to reach 3.2 trillion won. Despite this, the group's commission income saw a decline of 18.1% to 790.2 billion won.

Operating profit for the quarter was recorded at 1.9 trillion won, reflecting a slight decrease of 2.4% from the previous year. However, overall revenue surged by 95.9% to 18.64 trillion won, aligning with market expectations.

In the first nine months of the year, Shinhan Financial's net profit totaled 5.03 trillion won, up 12.7% from the previous year, surpassing its annual net profit of 4.97 trillion won for 2025. The flagship Shinhan Bank also reported a robust performance, with a net profit of 1.2 trillion won, up 12.5% year-on-year.

This financial performance underscores the advantages that rising interest rates have provided to financial institutions in South Korea.