SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934

SHINHAN FINANCIAL GROUP CO., LTD.

(Translation of registrant’s name into English)

120, 2-Ga, Taepyung-Ro, Jung-Gu, Seoul 100-102, Korea

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F   þ     Form 40-F   o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  o

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes   o     No   þ

If “Yes” is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82               .

 

 

Shinhan Financial Group 1H 2010 Operating Results

     On July 29, 2010 Shinhan Financial Group (“SFG”) announced its operating results for the six month period ended on June 30, 2010. Below are the key figures we announced through a fair disclosure. The IR presentation materials are available on our website (www.shinhangroup.com).

     The financial information in this report has been prepared in accordance with accounting principles generally accepted in Korea and are to be reviewed by our independent auditor. As figures provided have not yet been fully reviewed by external auditors, contents are subject to change in the due course of the reviewing process.

1.

Operating Results of Shinhan Financial Group (Consolidated) (in KRW million)

		1H 2010 (6 months)				1H 2009 (6 months)				Chg %
Operating Revenue			18,771,901				32,433,710				-42.1	%
Operating Income			1,869,838				841,829				122.1	%
Continuing Operations Income Before Income Tax			1,853,939				850,003				118.1	%
Net Income			1,367,592				557,784				145.2	%

		2Q 2010				1Q 2010				Chg %				2Q 2009				Chg %
Operating Revenue			9,432,144				9,339,757				1.0	%			10,177,621				-7.3	%
Operating Income			769,700				1,100,138				-30.0	%			638,900				20.5	%
Continuing Operations Income Before Income Tax			769,539				1,084,400				-29.0	%			647,965				18.8	%
Net Income			588,550				779,042				-24.5	%			439,666				33.9	%

2. Operating Results of Shinhan Bank (Non-consolidated) (in KRW million)

		1H 2010 (6 months)				1H 2009 (6 months)				Chg %
Operating Revenue			13,574,997				27,724,958				-51.0	%
Operating Income			1,221,425				410,825				197.3	%
Continuing Operations Income Before Income Tax			1,211,624				405,360				198.9	%
Net Income			968,807				275,724				251.4	%

		2Q 2010				1Q 2010				Chg %				2Q 2009				Chg %
Operating Revenue			6,697,733				6,877,264				-2.6	%			7,910,701				-15.3	%
Operating Income			445,970				775,455				-42.5	%			294,665				51.3	%

		2Q 2010				1Q 2010				Chg %				2Q 2009				Chg %
Continuing Operations Income			449,217				762,407				-41.1	%			301,026				49.2	%
Before Income Tax
Net Income			380,231				588,576				-35.4	%			201,992				88.2	%

3. Operating Results of Shinhan Card (Non-consolidated) (in KRW million)

		1H 2010 (6 months)				1H 2009 (6 months)				Chg %
Operating Revenue			2,018,872				1,783,831				13.2	%
Operating Income			667,523				466,917				43.0	%
Continuing Operations Income			675,667				467,654				44.5	%
Before Income Tax
Net Income			525,967				367,090				43.3	%

		2Q 2010				1Q 2010				Chg %				2Q 2009				Chg %
Operating Revenue			1,096,725				922,147				18.9	%			969,503				13.1	%
Operating Income			336,735				330,788				1.8	%			295,839				13.8	%
Continuing Operations Income			339,203				336,464				0.8	%			294,608				15.1	%
Before Income Tax
Net Income			263,362				262,605				0.3	%			224,521				17.3	%

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: July 29, 2010