S&P rates Shinhan Financial A

S&P said it assigned its A long-term and A-1 short-term issuer credit ratings to Shinhan Financial Group Co. Ltd. (SFG), a Korea-based financial holding company.

The outlook on the long-term rating is stable.

“The ratings on SFG reflects the group's strong market position as the largest financial holding company in Korea. SFG has a diversified business structure across banking and non-banking businesses, and adequate capitalization to support its business growth,” S&P said in a news release.

“We also believe that SFG will likely maintain its asset quality backed by prudent underwriting standards. The group's extensive retail customer deposit base underpins its overall stable funding and liquidity profiles, in our view.”

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