Analyst Consensus ?
ConsensusBuy2 ratings
Bullish2100.0%
Neutral00.0%
Bearish00.0%
Shinhan Financial Group Co., Ltd. · SHG · FY2026 Q2 · Calendar Q3 2026
Shinhan Q2: Fee income and capital strength support returns
Shinhan's Q2 analysis supports a constructive but conditional view: stronger fee income, NIM improvement and overseas earnings support returns, while credit, macro and M&A risks remain material.
Reported Before market openNYSEFinancial Services
$30.30B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.55
Consensus $2.33
EPS surprise
+9.4%
Reported versus consensus
Reported revenue
$3.13B
Consensus $2.89B
Revenue surprise
+8.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.4%
Event window
SPY move
-1.2%
Same window
Abnormal move
+2.7%
Stock minus SPY
Volume
1.0×
Versus trailing sessions
Subsequent drift
+0.1%
Up to 20 sessions
SHGSPY benchmark
Ask FN2 about SHG FY2026 Q2
Transcript, numbers and history already loaded
Why did SHG rise 1.4% after beating EPS estimates in FY2026 Q2?What changed in SHG's guidance and outlook in FY2026 Q2?Give me the bull and bear case for SHG after FY2026 Q2 earnings.
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Transcript intelligence
What changed
Compared with the prior quarter, Q2 analysis highlighted stronger fee income, a 13.43% CET1 ratio, a shortened buyback cycle and a KRW 1.4tn year-end buyback target. Management also continued to evaluate selective non-life insurance M&A.
Guidance delta
Guidance sentiment was maintained. Management reiterated an ROE target of 10–12% by 2027 and expects NIM to improve further in the second half.
Key takeaways
- Q2 net income rose 12.2% quarter over quarter, with fee income up 22% quarter over quarter.
- Securities custody, wealth-management and investment-banking fees were key contributors to non-interest income.
- Capital actions remain prominent, but credit costs, FX volatility and domestic demand require monitoring.
Management priorities
- Prioritise profitability and high-credit-asset growth in the second half.
- Expand wealth-management and securities fee businesses while pursuing digital and sustainability initiatives.
- Maintain flexible shareholder returns and assess selective non-life insurance M&A.
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Bank of America | Buy | Neutral | Upgrade | Aug 30, 2018 |
| B of A Securities | Buy | Neutral | Upgrade | Aug 30, 2018 |
Track every rating change on SHG the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationShinhan Financial Group Co., Ltd. is a prominent financial services provider that operates both within South Korea and globally. The company's diverse activities are organized into six primary divisions: Banking, Credit Card services, Securities, Life Insurance, Credit, and other specialized financial offerings. For individual clients, Shinhan offers a comprehensive suite of retail banking solutions. These include various deposit account types—demand, savings, and fixed—along with checking accounts. The group also provides personal lending options such as mortgages, home equity loans, and other consumer credit. Furthermore, it facilitates electronic banking, ATM access, bill payment, payroll and check processing, foreign currency exchange, and international money transfer services.…
Historical context
All SHG earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| TRU TransUnion | FY2026 Q3 · Calendar Q4 2026 | +3.3% | -5.3% | TransUnion: Q3 beat and insurance growth support raised outlook |
| ARCC Ares Capital Corporation | FY2026 Q3 · Calendar Q4 2026 | -3.4% | -0.5% | ARCC: MFIC Deal Expands Scale as Origination Slows |
| HOOD Robinhood Markets, Inc. | FY2026 Q3 · Calendar Q4 2026 | +7.5% | +1.9% | Robinhood posts record Q3 as products and deposits scale |
| V Visa Inc. | FY2026 Q4 · Calendar Q4 2026 | +1.2% | -0.6% | Visa reports strong FY2026 growth as tokenization expands |
| IVZ Invesco Ltd. | FY2026 Q3 · Calendar Q4 2026 | -2.7% | -0.4% | Invesco: strong inflows and margin expansion, with mix pressure |
| LPLA LPL Financial Holdings Inc. | FY2026 Q3 · Calendar Q4 2026 | +5.5% | +0.1% | LPL posts record EPS as Commonwealth and Cyan remain key priorities |
Latest beats and misses
Who reports nextBeat on EPS
- MANHFY2026 Q3 · October 27, 2026+6.2% EPS-1.0% move
- TRUFY2026 Q3 · October 27, 2026+3.3% EPS-5.3% move
- CMSFY2026 Q3 · October 27, 2026+6.7% EPS-0.8% move
- PNRFY2026 Q3 · October 27, 2026+9.3% EPS+12.8% move
- CNPFY2026 Q3 · October 27, 2026+6.3% EPS+1.9% move
- ECLFY2026 Q3 · October 27, 20260.0% EPS+0.8% move
Missed on EPS
- ARCCFY2026 Q3 · October 27, 2026-3.4% EPS-0.5% move
- WSOFY2026 Q3 · October 27, 2026-8.0% EPS-1.4% move
- IVZFY2026 Q3 · October 27, 2026-2.7% EPS-0.4% move
- SHWFY2026 Q3 · October 27, 2026-1.6% EPS-2.7% move
- BAFY2026 Q3 · October 27, 2026-33.4% EPS-10.7% move
- AREFY2026 Q3 · October 26, 2026-13401.8% EPS-5.9% move
Get the SHG recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-26T16:03:32.949860+00:00
- FN2 earnings calendar · 2026-08-27T01:23:13.912278+00:00
- Polygon adjusted daily market bars · 2026-10-28T09:40:42.582237+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-28. For educational purposes only; not investment advice.