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Table of Contents

This report covers highlights of balance sheet and profit/loss, asset quality, capital adequacy, major financial figures, and detailed financial data for a comprehensive analysis.

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Table of Contents

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  1. 1. B/S Highlight Table of Contents 2. P/L Highlight 3. Asset Quality 4. Capital Adequacy Ratio 5. Major Financial Figures

  2. 1. B/S Highlight Contents • Highlight of Key Accounts • Details in Assets by Subsidiary • Loan Growth 2. P/L Highlight 3. Asset Quality 4. Capital Adequacy Ratio 5. Major Financial Figures

  3. 1. B/S –Highlight of Key Accounts 3Q 02 2Q 02 Amt Chg YTD 2001 1Q 02 (KRW bn) Total Asset Bank Only 62,017.5 66,774.6 5,191.4 67,208.9 64,924.7 8.4% SFG 1) 65,568.7 17.5% 71,132.1 11,489.4 77,058.1 74,308.4 Total Deposit Bank Only 42,494.0 45,463.5 2,803.7 45,297.7 45,205.9 6.6% 42,666.8 45,482.0 SFG 4,506.2 47,173.0 46,973.3 10.6% Total Loan Bank Only 34,409.9 39,118.6 4,928.3 39,338.2 37,613.3 14.3% 35,045.6 39,588.6 8,129.1 SFG 43,174.7 41,401.4 23.2% Total Securities Bank Only 19,568.7 19,819.3 -277.7 19,291.0 19,018.3 -1.4% SFG 19,284.8 19,627.5 287.7 19,572.5 19,335.5 1.5% Footnote 1): includes Asset Under Management (AUM )of Shinhan Investment Trust Management

  4. 1. B/S –Details in Assets by Subsidiary 2001 1Q 02 2Q 02 3Q 02 Amt Chg YTD (KRW bn) 총자산 총자산 SHB 62,017.5 66,774.6 64,924.7 67,208.9 5,191.4 8.4% B/A 53,356.0 57,054.7 54,976.6 57,289.7 3,933.7 7.4% 10,036.7 614.0 10,500.0 10,247.1 9,422.8 6.5% T/A GMSH 631.4 623.2 1,895.7 1,503.7 872.3 n.a 2,230.6 2,078.0 2,078.0 n.a SHCard 857.7 830.2 865.5 10.0 855.5 1.2% SHC 45.6 0.4 0.9% SHITM 45.2 46.2 44.6 AuM 4,108.4 1,323.5 2,784.9 3,565.6 3,513.8 47.5% 1,695.2 1,695.2 Jeju Bank 1,588.9 n.a (447.1) (-318.7) (Intra Transac.) (765.8) (735.1) (720.2) (-41.6%) Total 65,568.7 77,058.1 11,489.4 71,132.2 74,308.4 17.5%

  5. 1. B/S-Loan Growth (KRW bn) 2001 Amount Change 3Q2002 YTD Portfolio In % 1Q 2Q 3Q 49.5% 43.2% Consumer 2,710.7 884.1 15,423.8 1,056.1 10,772.9 47.9% 2,156.1 6,940.2 572.9 33.0% Home Equity 597.6 10,266.8 34.6% 554.6 3,832.7 483.2 16.6% Others 286.5 5,157.0 38.9% 14.1% -24.1 12,119.9 934.5 590.6 SMEs 10,618.9 19.3% 11.2% 1,038.6 -562.3 89.7 3,503.5 Large Corps. 2,937.5 15.3% 0.3% 5.2 7.7 1.3 107.2 93.0 Public & Others Total Loans 4,689.0 1,092.1 27.6% 24,422.3 100.0% 951.0 31,154.4 Footnote: Bank Account Loan in Korean Won

  6. 1. B/S Highlight Contents 2. P/L Highlight • Income by Individual Subsidiaries • SFG Net Profit • Interest Income vs. Non-interest Income • Non-interest Income Summary • NIS and NIM 3. Asset Quality 4. Capital Adequacy Ratio 5. Major Financial Figures

  7. 2.P&L-Income By Individual Subsidiaries 1Q 02 2Q 02 3Q 02 Total 3Q2001 YoY (KRW bn) 총자산 Pre-Provision Income Bank 5.7% 312.6 265.7 245.0 809.4 823.3 32.4 Card 5.6 26.8 -49.2% 1.6 12.1 23.8 8.5 2.0 Securities -7.5% Capital 8.7 8.8 24.5 7.0 26.5 2.7 5.0 2.0 1.8 ITMC 1.2 85.2% 6.6 5.5 12.1 Jeju 862.4 909.4 5.4% Total 331.0 290.7 287.7 Loan Loss Provision Bank 168.1 -57.7% 46.0 397.2 83.8 38.3 48.2 111.4% Other Companies 2.0 22.8 8.2 38.0 216.3 -48.5% Total 47.9 92.0 76.4 420.0 Net Profit 180.6 125.4 138.8 444.8 270.8 Bank 65.6% 3.9 -0.2 3.7 Card 13.4 -91.8% Securities 6.3 1.2 1.4 -6.6 Capital 3.8 2.2 0.8 6.8 3.8 78.9% ITMC 0.8 1.3 1.2 3.3 2.6 26.9% Jeju 2.7 1.3 4.0 Total 191.5 463.8 136.9 135.3 290.6 59.6%

  8. 2. P&L-SFG Net Profit Net Profit Goodwill Provision Adjustment Operating Expense Total (KRW bn) Bank 444.8 444.8 (4.4) Securities 1.2 (4.7) (1.5) 3.7 3.7 Card 6.8 5.6 12.4 Capital 3.3 3.3 ITMC Jeju Bank 4.0 6.5 0.4 2.1 (0.6) (0.6) e Shinhan Shinhan Macquarie (0.1) (0.1) Credit Information (0.3) (0.3) (30.4)* (30.4) SFG 434.6 Total 462.7 (4.0) 6.2 (30.4) * Interest income 2.4, G&A expenses 15.6, Deffered income tax credits 17.2

  9. 2. P&L -Interest Income vs Non-Interest Income YoY 1Q 02 2Q 02 3Q 02 3Q01 Total (KRW bn) Bank Interest Income 15.5% 761.9 261.9 316.4 302.0 880.3 -15.3% 419.3 200.2 74.8 Non-Interest Income 80.3 355.3 3.2% 134.5 ※ Including Shinhan Card 98.0 432.7 SFG Interest Income 12.5% 790.3 269.2 309.9 310.1 889.2 Non-Interest Income 8.3% 509.7 241.2 180.2 130.6 552.0

  10. 2. P&L-Non-Interest Income Summary (Shinhan Bank) 1Q 02 2Q 02 3Q 02 Total 3Q 01 YoY (KRW bn) 총자산 총자산 Fees & Commissions -9.6% 101.9 93.3 69.2 254.4 281.4 -14.8% Credit Card Income 86.3 68.1 29.9 184.3 216.2 21.0% 85.8 89.6 261.7 ※ Including Shinhan Card1) 5.4% Fees on Trust Account 39.9 25.2 32.1 97.2 92.2 Securities related Income n.a 42.1 -67.0 -27.6 -52.5 -6.6 ※ Excluding disposition loss of Hynix2) n.a -4.5 10.0 -13.6% 18.6 35.3 14.6 68.5 79.3 Income on FC Transaction Others n.a -2.3 -6.7 -3.3 -12.3 -27.0 -15.3% Total 200.2 80.3 74.8 355.3 419.3 Footnote) 1) Shinhan Card’s income(Revenue-Expenses) : W77.4bn (From June to September) 2) Losses on disposition of Hynix common share holding : W62.5bn

  11. 2. P&L-NIS and NIM 1Q 02 1H 02 3Q 02 3Q 01 YoY NIS Average Lending Rate 7.62% 7.52% 7.47% 8.75% -1.28%p Average Deposit Rate 4.54% 4.46% 4.41% 6.02% -1.61%p 0.33%p 2.73% NIS in KRW 3.08% 3.06% 3.06% 0.40%p 2.14% NIS in KRW(excluding Credit Card) 2.49% 2.54% 2.54% NIM Including Credit Card NIM 2.76% 2.80% 2.78% 2.76% 0.02%p 0.08%p 2.83% NIM in KRW 2.88% 2.93% 2.91% -0.52%p 2.34% NIM in FX 1.86% 1.79% 1.82% Excluding Credit Card NIM 2.37% 2.42% 2.41% 2.50% -0.09%p -0.03%p 2.53% NIM in KRW 2.44% 2.51% 2.50% -0.54%p 2.34% NIM in FX 1.86% 1.77% 1.80%

  12. 1. B/S Highlight Contents 2. P/L Highlight 3. Asset Quality • Asset Classification and Coverage Ratio • Delinquency Ratio • Credit Card Asset Quality • Additional Provisions • Exposure to Hyundai Affiliates 4. Capital Adequacy Ratio 5. Major Financial Figures

  13. 3. Asset Quality–Shinhan Bank 2001 1Q 02 2Q02 3Q02 YTD (KRW bn) 총자산 Total Credits 19.3% 35,920.7 41,371.7 41,196.3 42,865.9 -21.6% Substandard & below 868.1 735.7 614.8 680.7 1.49% 2.42% 1.78% 1.59% -0.83p% Ratio -21.5% Precautionary & below 1,939.6 1,863.9 1,523.7 1,522.9 Ratio -1.85%p 5.40% 4.51% 3.70% 3.55% 8.26% 663.4 646.4 674.7 623.2 Provisions Coverage Ratio Substandard & below 27.3%p 71.8% 90.2% 105.1% 99.1% 12.2%p Precautionary & below 32.1% 35.6% 42.4% 44.3% NPLs Sold1) n.a 161.4 116.1 0 0 -88.4% Write-offs 729.8 26.2 33.5 25.2 Footnote) 1. ABS Issue 2. The numbers for NPLs Sold and Write-offs are not accumulated basis(quarterly figures)

  14. 3. Asset Quality–Delinquency Ratio (KRW bn) 2Q02 3Q02 2001 1Q02 YTD Loan Amount 40.1% Retail 14,751.2 15,603.4 11,140.4 13,780.2 Delinquency Amount 84.8% 96.1 164.5 89.0 118.5 Home Equity Loan 195.6% 36.5 79.8 27.0 44.9 Unsecured Loan 28.9% 30.5 50.0 38.8 56.1 Corporate Loan Amount 14.7% 15,657.1 15,744.5 13,730.5 15,652.2 -7.2% Delinquency Amount 159.2 223.2 240.6 186.8 20.6% 38,634.8 40,350.9 Total Loan Amount 33,469.7 38,840.6 Delinquency Amount -16.5% 332.4 472.3 565.6 536.0 Delinquency Ratio Retail 0.25%p 0.65% 1.05% 0.80% 0.86% 0.35%p 0.36% 0.74% Home Equity Loan 0.39% 0.48% 0.47%p 1.29% 1.95% Unsecured Loan 1.48% 2.45% -0.33%p Corporate 1.02% 1.42% 1.75% 1.19% -0.52%p Total 0.86% 1.17% 1.69% 1.38% Footnote) Shinhan Bank only

  15. 3. Asset Quality–Shinhan Card 2Q02 3Q02 2001 1Q02 YTD (KRW bn) Spin-off Change in classification standard 22.3% Normal 2,444.2 2,460.1 2,012.2 2,232.8 Precautionary 126.2% 2.2 80.3 35.5 42.4 Substandard n.a 0.0 0.0 1.0 0.9 Doubtful 115.3% 0.0 36.6 17.0 20.9 Estimated Loss 42.6% 21.3 39.5 27.7 31.7 25.0% 2,467.7 2,616.4 2,093.4 2,328.7 Total Credits 0.72%p Substandard & below 0.86% 2.91% 2.19% 2.30% 2.10%p Precautionary & below 0.95% 5.98% 3.88% 4.12% 4.8% 77.9 89.4 85.3 98.5 Provisions Coverage Ratio -68.8%p 365.7% 117.5% Substandard & below 186.3% 183.9% -47.75p 331.9% 57.2% Precautionary & below 104.9% 102.7% Delinquency Ratio 2.43%p 4.63% 5.46% 3.03% 3.84% Over 1 month 3.63%p 8.21% 9.93% Over 1 day 6.30% 7.16% Footnote) 1. Based on Shinhan Card and Shinhan Bank’s “Purchase Card”

  16. Additional Provisions from Regulatory Requirement 3. Asset Quality– Application Period Changes or Amendment Provision Requirement(E) Net Income Impact(E) Consumer Loan (Precautionary) Increase in Provision Ratio 5% ⇒ 8% 2.6 bn △ 1.8 bn End of 2002 Corporate Loan (Normal) Increase in Provision Ratio 0.5% ⇒ 0.75% 27.4 bn △ 19.2 bn TBD Credit Card (Precautionary) Increase in Provision Ratio 7% ⇒ 12% 3.9 bn △ 2.7 bn End of 2002 Total 6.5 ∼ 33.9 bn △4.6 ∼ △ 23.7 bn

  17. 3. Asset Quality–Exposure to Hyundai Affiliates

  18. 1. B/S Highlight Contents 2. P/L Highlight 3. Asset Quality 4. Capital Adequacy Ratio 5. Major Financial Figures

  19. 4. Capital Adequacy Ratio 2Q02 3Q02(E) 2001 1Q02 2002(E) (KRW bn) Shinhan Bank only Risk-weighted Assets 40,461.0 38,963.0 35,772.0 40,086.2 Tier 1 Capital 2,788.3 2,682.1 2,955.9 3,150.2 Tier 2 Capital 1,460.1 1,520.8 1,343.5 1,357.4 10.50% 10.50% Capital Adequacy Ratio 10.79% 12.02% 11.24% 6.90% 6.89% 6.88% Tier 1 Ratio 8.26% 7.86% 3.60% 3. 61% 3.90% 3.76% 3.39% Tier 2 Ratio Shinhan Group(E) Risk-weighted Assets 42,787.7 41,881.0 Tier 1 Capital 4,000.2 3,303.3 Tier 2 Capital 1,395.8 1,193.8 Capital Adequacy Ratio 12.61% 10.74% 9.35% Tier 1 Ratio 7.89% 3.26% 2.85% Tier 2 Ratio ☞ Excluding GMSH securities’ minority interest, BIS ratio and tier 1 ratio would be 11.27% and 8.01% respectively

  20. 1. B/S Highlight Contents 2. P/L Highlight 3. Asset Quality 4. Capital Adequacy Ratio 5. Major Financial Figures

  21. 5. Major Financial Ratio 2001 1Q 02 1H 02 2002 (P) 3Q 02 (KRW) ROA 0.79% 1.33% 1.10% 1.03% 0.96% ROE 13.83% 24.05% 18.70% 20.00% 17.48% 12,312 13,210 13,505 13,265 BVPS 13,449 1,498 2,641 2,257 2,334 EPS 1,987 Loan to Deposit Ratio 81.1% 87.1% 92.0% 91.2% 94.7% Cost-income Ratio Consolidated Bank 42.23% 36.21% 41.26% 36.92% 37.31% 32.87% 36.97% 35.81% 43.83% 34.57% 2.42% 1.78% 1.49% 1.75% Substandard & below ratio* 1.59% * Loan to deposit ratio / Substandard & below ratio are for Shinhan Bank only

  22. Your Contacts Investor Relations D. H. Lee, Head of IR Team Tel : (822) 6360-3071 dhlee01@shinhan.com I. C. Park, Deputy General Manager Tel : (822) 6360-3072 icpark@shinhan.com S. H. Yu, Senior Manager Tel : (822) 6360-3073 irshy@shinhan.com S. J. Han, Assistant General Manager Tel : (822) 6360-3074 sjhan@shinhan.com Fax : (822) 777-1883 / 6263-8070

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