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    Shim Jongmin

    Senior Analyst at CLSA Securities

    Shim Jongmin is a Senior Analyst at CLSA Securities, specializing in equity research for the South Korean market with a focus on leading technology and consumer companies. He covers major firms such as Samsung Electronics, SK Hynix, LG Display, and Naver, and is recognized for his data-driven approach and thorough sector insights. With over a decade of equities research experience, Shim started his career at a prominent domestic brokerage before joining CLSA in the mid-2010s, quickly establishing a reputation for analytical rigor. He holds FINRA certifications and frequently ranks among the top sector analysts on industry performance platforms for his successful stock recommendations and consistently strong returns.

    Shim Jongmin's questions to SHINHAN FINANCIAL GROUP CO (SHG) leadership

    Shim Jongmin's questions to SHINHAN FINANCIAL GROUP CO (SHG) leadership • Q1 2024

    Question

    Shim Jongmin from CLSA Securities asked for the year-end CET1 ratio target and how it connects to shareholder return policy, particularly regarding a potential larger buyback in Q4 if the target is exceeded.

    Answer

    CFO Sang-Hyuk Jung stated that the target CET1 ratio is 13%, which serves as a threshold. He confirmed that if the ratio surpasses 13% (with an appropriate buffer), the company will actively consider additional shareholder returns, such as share cancellations, and this would be the basis for any potential action in the fourth quarter.

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    Shim Jongmin's questions to KB Financial Group (KB) leadership

    Shim Jongmin's questions to KB Financial Group (KB) leadership • Q1 2024

    Question

    Shim Jongmin from CLSA inquired about the management's target valuation, such as PBR, that would trigger an increase in the total dividend amount, and asked for the company's mid- to long-term target for the total shareholder return (TSR) ratio.

    Answer

    CFO Jae Kwan Kim stated that the management is thinking of a target valuation around a 10% ROE and a 0.8x PBR. He reiterated the mid- to long-term policy is to gradually increase shareholder returns through incremental DPS growth and share buybacks, rather than targeting a specific TSR ratio. He added that any increase in the total cash dividend amount would depend on favorable circumstances, not an absolute standard.

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