Shinhan Bank, Retirement Pension Yield Ranked No.1 for 6 Consecutive Quarters

Customized Customer Management Based on Investment Preferences and Achievements in Digital Asset Management Using AI Technology

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 22nd that it achieved first place in the combined returns of both DB-type and DC-type retirement pensions in the third quarter retirement pension returns disclosure by the Korea Federation of Banks, marking its sixth consecutive quarter at the top.

Since the second quarter of 2020, Shinhan Bank has maintained first place in the combined returns of DB-type and DC-type retirement pensions among 12 banks disclosed by the Korea Federation of Banks. In particular, for the DC-type, it recorded a combined return of 2.93% over the past year, which is 1.63% higher than the lowest-ranked bank in the banking sector.

The retirement pension market has grown to a scale of 263 trillion KRW as of the end of September this year. Among this, the DB-type, where the company acts as the asset manager, accounts for 151 trillion KRW, and the DC-type accounts for 68 trillion KRW, together making up 84% of the entire retirement pension market.

Shinhan Bank has strengthened customized customer management according to investment preferences to increase the returns of DB-type and DC-type retirement pensions. For customers who prefer investment products, it provides monthly investment guides centered on recommended funds, and for customers who prefer principal-guaranteed products, it offers high-interest fixed deposit products, actively rebalancing products to enhance customer returns.

Additionally, Shinhan Bank is also focusing on improving returns through digital asset management by proposing asset portfolios via the AI-based robo-advisor "SOL Rich Retirement Pension" within Shinhan SOL, enabling customers to manage their retirement pension assets easily and quickly, and providing customized asset management through "SOL My Future Planning Consultant."

Lee Byung-chul, Head of the Retirement Pension Business Group, said, "The secret to being number one in returns is systematic management tailored to customers' preferences and product characteristics," adding, "We will continue to expand meticulous customer management as well as digital asset management services that anyone can easily use."