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    Tesh Karen

    Research Analyst at White Capital

    Tesh Karen is an analyst at White Capital, specializing in equity research with a focus on delivering actionable insights within the financial sector. She is known for her detailed analysis of leading companies in her coverage universe, though specific company names and quantitative performance metrics remain confidential. Tesh began her career in finance after earning relevant certifications and has since held roles at prominent firms before joining White Capital as an analyst, where she continues to build a credible track record with clients. She maintains professional credentials, including securities licensing and industry memberships, underscoring her commitment to rigorous, compliant research standards.

    Tesh Karen's questions to SHINHAN FINANCIAL GROUP CO (SHG) leadership

    Tesh Karen's questions to SHINHAN FINANCIAL GROUP CO (SHG) leadership • Q4 2024

    Question

    Tesh Karen from White Capital asked about the risk to the life insurance subsidiary's income from falling interest rates and inquired whether proprietary trading occurs within the group.

    Answer

    The Shinhan Life CFO stated that the company has a minimal book of guaranteed yield annuities, so the impact from lower rates is negligible and could even slightly increase earnings as liability costs fall. An executive then addressed the trading question by detailing the group's bond holdings, noting that Shinhan Bank and Shinhan Securities hold about half each of the KRW 37.3 trillion in FPPL bonds, while the bank and life subsidiary are the main holders of the KRW 78.1 trillion in FVOCI bonds.

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