CEO Message
Since 2017, Shinhan Financial Group diverted all our energy towards accelerating the implementation of the “2020 SMART Project” with a view to make our “Leap to a Leading Asian Fi-nancial Group.” Last year, we secured tangible outcomes under the four directions including “Balanced growth,” “Accelerating Glocalization,” “Digital Transformation,” and “Upholding the Shinhan Culture.”
First, we’ve maximized group values with balanced growth. We’ve attained solid, organic development in all facets of management such as banking-nonbanking, interest income – non-interest income, and management performed online and offline. At the same time, various forms of inorganic growth were also attained as evident in the acquisition of Orange Life/Asia Trust, in the domestic market and the M&A of ANZ Retail/Prudential Vietnam Finance Company Limited in Vietnam, in the global market, thereby setting a cornerstone for a greater leap forward.
On the other hand, we’ve expedited the pace of glocaliza-tion. We’ve established a wide-reaching global network at 188 branches in a total of 20 countries by newly establishing Shinhan DS (Digital Solutions) Vietnam and Hong Kong GIB (Group & Global Investment Banking) and strongholds in Viet-nam, Cambodia and Myanmar. Based on the network, we’ve achieved the highest global net incomes in Korea, suggesting new possibilities for Korean finance.
We’ve also made effort to elevate the Group to transform it into Digital Shinhan. While we founded “Shinhan Digital Campus” and run the “Shinhan Digital Innovation Institute” at the group level, we also established a unique mobile platform consisting of SOL/FAN/Shinhan Plus/Smart Loan Center, etc. to provide customers with excellent customer experiences.
Lastly, in line with upholding the Shinhan culture, we estab-lished the “Image of the Group’s Managerial Leader” to foster future talents and CEOs and launched the “Shinhan SHeroes,” the first program in the financial sector to nurture female lead-ers. In an attempt to actively respond to climate change and create a transformation into a low carbon economy, we have assumed a leadership role as a top financial group as evident in our proclamation and implementation of “Eco Transforma-tion 20•20,” an eco-friendly management vision, as well as the presentation of “Principles for Responsible Banking” for the sustainable management of the global financial industry at the Global Roundtable of the United Nations Environment Pro-gramme Finance Initiative (UNEP FI).
The year 2019 marks a significant milestone for the 2020 SMART Project to an extent that it demands even greater en-deavors. Building on our competitive advantage, “One Shin-han,” all our executives and employees will continue to make a concerted effort toward becoming a “Leading Financial Group in Asia.”
To do so, we will expand on the value creation of One Shinhan with an emphasis on the Matrix Business, which is central to the Group’s capabilities, while at the same time, further enhance its strong point, or a balanced business portfolio with optimized post-acquisition integration after the acquisition of Orange Life and Asia Trust.
We will further the Group’s Digital Transformation by at-tempting to achieve qualitative growth for our global business through the diversification of global investment, local assess-ments & risk system upgrades, and other moves, and actively respond to the specialized Internet banks that are gaining trac-tion.
Finally, we will keep on striving to advance the ESG (Environ-mental, Social, Governance) sustainability management system based on our specialty, finance, in a bid towards embodying the mission of “Compassionate Finance, Your Companion for the Future” and to create a virtuous cycle of shared prosperity to elevate the value of customers, society and the nation on the two axes of the “Hope Society Project” and the “Innovative Growth Project.”
We have been able to achieve such outstanding management performance and bring meaningful results socially responsi-ble management practices through compassionate finance because of the solid trust and support from our customers, shareholders, and various stakeholders. I would like to take this opportunity to thank you on behalf of the executives and em-ployees of Shinhan Financial Group.
This year, all our executives and employees will exert their ut-most effort with the slogan ‘Higher Vision, Innovative Shinhan!’ We would be grateful for your continued patronage, interest and support.
Thank you.
Cho Yong-byoung
CEO, Shinhan Financial Group
