View source for Company:Shinhan Bank

{{short description|South Korean bank}}

{{Infobox company 
|  name   = Shinhan Bank <br /> 신한은행
|  logo   = Shinhanbank logo.svg
|  logo_size = 225px
|  image          = Sungryemun of seoul.jpg
|  image_size     = 250px
|  image_caption  = [[Social:Headquarters|Headquarters]] in [[Place:Seoul|Seoul]], {{wipe|South Korea}}
|  type   = [[Finance:Public company|Public]]
|  traded_as      = {{kse|055550}}<br />{{NYSE|SHG}}
|  foundation     = {{start date and age|1897|2|19|df=y}}
|  location       = [[Place:Seoul|Seoul]], {{wipe|South Korea}}
|  key_people     = Wi Sung-ho, <small>([[Social:Chief executive officer|CEO]])</small>
|  industry       = [[Finance:Banking|Banking]]
|  homepage       = [http://www.shinhan.com/en/index.jsp Shinhan Bank]
|  products       = Checking accounts, [[Finance:Savings account|Savings account]]s, [[Finance:Insurance|Insurance]], [[Finance:Investment|Investment]]s, [[Finance:Mortgage|Mortgage]]s, Consumer finance
|  num_employees  = 13,400 (2016)
}}

{{Infobox Korean name
|tablewidth = 260
|title = Korean name
|rr = Shinhan Eunhaeng
|mr = Shinhan Ŭnhaeng
}}

'''Shinhan Bank''' (신한은행 ''Shinhan Eunhaeng'', [[ISO 9362|SWIFT]] SHBKKRSE, numeric 088), is a [[Social:Bank|bank]] headquartered in [[Place:Seoul|Seoul]], {{wipe|South Korea}}. Historically it was the first bank in Korea, established under the name Hanseong Bank in 1897. The bank was reestablished in 1982. It is part of the [[Company:Shinhan Financial Group|Shinhan Financial Group]], along with Jeju Bank. Chohung Bank merged with Shinhan Bank on April 1, 2006.

Shinhan Bank started as a small enterprise with a capital stock of KRW 25.0 billion, 279 employees, and three branches on July 7, 1982. Today, it has transformed itself into a large bank, boasting total assets of KRW 176.9 trillion, equity capital of KRW 9.7 trillion, 10,741 employees, and 1,026 branches as of 2006. As of June 30, 2016, Shinhan Bank had total assets of {{KRWConvert|298.945|t|r=3|year=2016|showdate=no}} , total deposits of {{KRWConvert|221.047|t|r=3|year=2016|showdate=no}} and loans of {{KRWConvert|212.228|t|r=3|year=2016|showdate=no}}. Shinhan Bank is the main subsidiary of Shinhan Financial Group (SFG).<ref>{{cite web|url=http://www.relbanks.com/asia/south-korea/shinhan-bank|title=Shinhan Bank|website=www.relbanks.com}}</ref>

== History ==
Shinhan Bank is the descendant of Hanseong Bank, the first modern bank in Korea. It was established by Kim Jong-Han in 1897, but began operating around 1900. It was originally located in a small house with only two rooms. One room was for the president, Yi Jae-Won, and the other room was for the staff. The bank operated by borrowing money from Japanese banks at low interest rates and then loaning it out for twice the rate to the Korean market. The Bank was successful because despite lending out money at twice the rate it borrowed it at, the bank's interest rates were still far lower than what could be obtained elsewhere in Korea at that time.<ref name="auto">The Dawn of Modern Korea. Lankov, Andrei. EunHaeng NaMu. 2007.</ref>

In an anecdotal story the bank's first property to use as collateral on a loan happened to be a donkey. The bank staff were challenged to feed and care for their collateral as the loan was out.<ref name="auto"/>

In March 2013, the Financial Services Commission of South Korea said that Shinhan Bank reported that its Internet banking servers had been temporarily blocked.<ref>Choe Sang-Hun, [https://www.nytimes.com/2013/03/21/world/asia/south-korea-computer-network-crashes.html "Computer Networks in South Korea Are Paralyzed in Cyberattacks"], ''{{wipe|The New York Times}}'', 20 March 2013.</ref> The South Korean government asserted a North Korean link in the [[2013 South Korea cyberattack|March cyberattacks]], which has been denied by Pyongyang.<ref>{{cite news |author=Lee Minji |date=April 10, 2013 |title=(2nd LD) Gov't confirms Pyongyang link in March cyber attacks |url=http://english.yonhapnews.co.kr/northkorea/2013/04/10/49/0401000000AEN20130410007352320F.HTML |newspaper=Yonhap News }}</ref>

== See also ==
* Economy of South Korea
* List of banks in South Korea
* List of Korea-related topics
* List of South Korean companies

== References ==
{{reflist}}

== External links ==
* [https://finance.yahoo.com/q?s=shg Yahoo! Finance (NASDAQ) page for Shinhan Bank]
* [https://finance.yahoo.com/q?s=055550.KS Yahoo! Finance (KOSDAQ) page for Shinhan Bank]



[[Category:Companies listed on the New York Stock Exchange]]

{{Sourceattribution|Shinhan Bank|1}}