Sign in

    Jun-Sup Jung • NH Investment & Securities Co., Ltd.

    Jun-Sup Jung's questions to Shinhan Financial Group Co Ltd (SHG) leadership

    Jun-Sup Jung's questions to Shinhan Financial Group Co Ltd (SHG) leadership • Q1 2025

    Question

    Jun-Sup Jung asked if the shareholder return target of 42% or more was too conservative given improving capital ratios and whether the company intended to accelerate its 2027 targets. He also requested elaboration on the potential use of capital reduction dividends.

    Answer

    Group CFO Sang Yung Chun clarified that 42% is a minimum target and the company is committed to accelerating its shareholder return program, particularly via buybacks, given the undervalued PBR. He stated that while the company reviewed capital reduction dividends, it has no current plans to implement them, preferring to observe market developments and potential tax implications for its diverse investor base.

    Ask Fintool Equity Research AI

    Jun-Sup Jung's questions to Shinhan Financial Group Co Ltd (SHG) leadership • Q1 2025

    Question

    Jun-Sup Jung questioned if the shareholder return target of 42% or more was too conservative given improving capital ratios and asked if there was any intention to accelerate the program. He also requested more details on the potential use of capital reduction dividends.

    Answer

    Group CFO Sang Yung Chun clarified that 42% is a minimum target and the company is committed to accelerating its shareholder return program, particularly through buybacks, given the currently undervalued PBR. He noted a final decision for H2 would be made later. Regarding capital reduction dividends, he stated there are no current plans as the company is observing market developments and tax considerations, preferring to wait due to the varied benefits for different investor types.

    Ask Fintool Equity Research AI

    Jun-Sup Jung's questions to KB Financial Group Inc (KB) leadership

    Jun-Sup Jung's questions to KB Financial Group Inc (KB) leadership • Q1 2025

    Question

    Jun-Sup Jung of NH Investment & Securities asked about the surprisingly large Q1 shareholder return, questioning if this front-loading implied a smaller return in the second half. He also inquired about KBFG's stance on impairment dividends. In a follow-up, he asked about potential contingent liabilities and future provisioning needs related to Homeplus and other commercial real estate sectors.

    Answer

    CFO Sang-Rok Na clarified that the shareholder return principle is unchanged and the Q1 actions were preemptive to ensure market stability, not necessarily reducing H2 returns. He added that KBFG is reviewing impairment dividends but has no detailed policy. An unnamed executive stated that necessary provisions for direct Homeplus exposure were made in Q1, with indirect exposures under review, and that the firm maintains a conservative provisioning approach for all real estate.

    Ask Fintool Equity Research AI

    Jun-Sup Jung's questions to KB Financial Group Inc (KB) leadership • Q3 2024

    Question

    Jun-Sup Jung from NH Securities asked about the sensitivity of KB Financial Group's CET1 ratio to external market factors like interest rates and foreign exchange (FX) rates, and whether the company had any specific projections for these impacts.

    Answer

    The Group CRO stated that the impact from stock market fluctuations is minimal due to small open positions. Regarding foreign exchange, he specified that a KRW 10 fluctuation in the FX rate results in a 1 basis point impact on the CET1 ratio. CFO Jae Kwan Kim added that the group is working to lessen the gap between asset growth and RWA growth to improve capital efficiency.

    Ask Fintool Equity Research AI

    Jun-Sup Jung's questions to Woori Financial Group Inc (WF) leadership

    Jun-Sup Jung's questions to Woori Financial Group Inc (WF) leadership • Q1 2024

    Question

    Jun-Sup Jung from NH Investment & Securities asked if M&A priorities have shifted from securities to insurance, requested an update on the Korea POS Securities deal, and questioned the logic behind the KRW 181 quarterly dividend.

    Answer

    An executive explained that the Korea POS Securities deal is underway but details cannot be shared. He clarified that M&A priorities have not changed; the group will review any good non-bank opportunities. Regarding the dividend, the policy of equal quarterly payments based on the prior year's dividend is unchanged. For the Total Shareholder Return (TSR) policy, the group is considering segmenting CET1 brackets further to enhance returns under the government's 'Corporate Value-up Program'.

    Ask Fintool Equity Research AI