Shinhan Financial Group Co., Ltd. (NYSE:SHG) Q1 2024 Earnings Call Transcript

Unidentified Company Representative: All right. Thank you very much for the questions. So I ask for your patience as we prepare our response.

Sang-Hyuk Jung: Thank you very much for the question. So at the CET1 ratio target and then also how this can be related to our share cancellation. Now to put it simply, as was mentioned last time, the target CET1 ratio is 13%. So 13% is extra short. Now of course, when we say 13% threshold and if we consider the various offers, then it’s not just 13%, it could be 13.1%, et cetera, meaning that there has to be some buffer. But again, in principle, it is 13%. If it goes over, then we will consider shareholder return. So then additional share cancellation or shareholder returns. So taking them into consideration, I believe that in the fourth quarter, I believe that, that would also be the consideration.

Unidentified Company Representative: So there have been a number of questions asked and responses provided and we see that there are no further questions in queue. And I do believe that there has been sufficient discussion for now. And with that, we will conclude the 2024 first quarter earnings conference call by SFG. We will strive to enhance understanding of investors, shareholders and stakeholders in the SFG through our earnings release conferences. And the information that was shared today can also be found in our website and the SFG IR YouTube channel. I ask for your interest and attention. Once again, thank you very much for your participation.