Shinhan Bank Decides to Issue New Hybrid Capital Securities Worth 300 Billion KRW

[Asia Economy Reporter Seongpil Cho] Shinhan Financial Group announced on the 28th that its subsidiary, Shinhan Bank, has decided to issue 300 billion KRW worth of amortizing contingent convertible bonds (hybrid capital securities).

The company stated, "The purpose is to enhance the BIS (Bank for International Settlements) capital adequacy ratio by expanding additional Tier 1 capital," and explained, "The issuance limit is based on the board resolution and may vary depending on market conditions during the actual issuance process."