NYSE, SHG - Shinhan Financial Group Ltd ADR
We are the largest financial holding company in Korea in terms of total assets,
total deposits and stockholders? equity. We were formed in 2001 as the holding
company for Shinhan Bank and related financial services companies. On August 19,
2003, we acquired 80.04% of the shares of Chohung Bank and began to merge its
operations with those of Shinhan Bank subject to a three-year transition period.
In June 2004, we acquired the remaining 18.85% of the outstanding shares of
Chohung Bank that we previously did not own through a cash tender offer followed
by a small-scale share swap pursuant to Korean law. Following the merger of
Shinhan Bank and Chohung Bank in April 2006, Shinhan Bank?s total assets grew to
W154,207 billion (US$165,813 million) as of December 31, 2006, as published by
the Financial Supervisory Commission. In February 2007, we acquired 85.7% shares
of LG Card, the largest credit card service provider in Korea with 17.2% market
share of credit card customers. ...
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