Shinhan Financial Group retained its "leading bank" position for the second straight year as it posted its best business performance since the establishment of the holding company.
Shinhan Financial posted a net profit of 3.4 trillion won last year. It marks a 7.8 percent on-year increase, the largest performance since the establishment of the holding company.
KB Financial Group, which competes with Shinhan Financial Group for the No. 1 position in the industry, announced on Feb. 6 that its net profit stood at 3.3 trillion won last year.
Its net profit increased 8.2 percent on-year, but it was about 90 billion won less than Shinhan Financial. Shinhan Financial regained its position as a leading Bank in a year after giving up its No. 1 spot to KB Financial in 2017, and succeeded in winning the bid for the second straight year.
When it comes to the management performance of the group's flagship bank, KB Financial won in the competition as KB Kookmin Bank's net profit reached 2.4 trillion won last year, slightly ahead of Shinhan Bank's 2.3 trillion won.
It was also a victory for KB Financial in securities (Shinhan Financial Investment to KB Securities). However, Shinhan Financial outperformed KB Financial in the performance of other affiliates such as credit cards (Shinhan Card to KB Kookmin Card) and life insurance (Shinhan Life Insurance to KB Life Insurance).
