2002 3 Q SUMMARY REPORT October 31 2002

2002 3 Q SUMMARY REPORT October 31, 2002

Table of Contents 1. B/S Highlight 2. P/L Highlight 3. Asset Quality 4. Capital Adequacy Ratio 5. Major Financial Figures 2

Contents 1. B/S Highlight Ø Highlight of Key Accounts Ø Details in Assets by Subsidiary Ø Loan Growth 2. P/L Highlight 3. Asset Quality 4. Capital Adequacy Ratio 5. Major Financial Figures 3

1. B/S – Highlight of Key Accounts (KRW bn) 2001 1 Q 02 2 Q 02 3 Q 02 Amt Chg YTD Total Asset Bank Only 62, 017. 5 66, 774. 6 64, 924. 7 67, 208. 9 5, 191. 4 8. 4% SFG 1) 65, 568. 7 71, 132. 1 74, 308. 4 77, 058. 1 11, 489. 4 17. 5% Bank Only 42, 494. 0 45, 463. 5 45, 205. 9 45, 297. 7 2, 803. 7 6. 6% SFG 42, 666. 8 45, 482. 0 46, 973. 3 47, 173. 0 4, 506. 2 10. 6% Bank Only 34, 409. 9 39, 118. 6 37, 613. 3 39, 338. 2 4, 928. 3 14. 3% SFG 35, 045. 6 39, 588. 6 41, 401. 4 43, 174. 7 8, 129. 1 23. 2% Bank Only 19, 568. 7 19, 819. 3 19, 018. 3 19, 291. 0 -277. 7 -1. 4% SFG 19, 284. 8 19, 627. 5 19, 335. 5 19, 572. 5 287. 7 1. 5% Total Deposit Total Loan Total Securities Footnote 1): includes Asset Under Management (AUM )of Shinhan Investment Trust Management 4

1. B/S – Details in Assets by Subsidiary 2001 1 Q 02 총자산 2 Q 02 총자산 3 Q 02 62, 017. 5 66, 774. 6 64, 924. 7 B/A 53, 356. 0 57, 054. 7 T/A 9, 422. 8 GMSH 631. 4 (KRW bn) SHB Amt Chg YTD 67, 208. 9 5, 191. 4 8. 4% 54, 976. 6 57, 289. 7 3, 933. 7 7. 4% 10, 500. 0 10, 247. 1 10, 036. 7 614. 0 6. 5% 623. 2 1, 895. 7 1, 503. 7 872. 3 n. a 2, 230. 6 2, 078. 0 n. a SHCard 855. 5 857. 7 830. 2 865. 5 10. 0 1. 2% SHITM 45. 2 46. 2 44. 6 45. 6 0. 4 0. 9% Au. M 2, 784. 9 3, 565. 6 3, 513. 8 4, 108. 4 1, 323. 5 47. 5% 1, 588. 9 1, 695. 2 n. a SHC Jeju Bank (Intra Transac. ) Total (765. 8) (735. 1) (720. 2) (447. 1) (-318. 7) (-41. 6%) 65, 568. 7 71, 132. 2 74, 308. 4 77, 058. 1 11, 489. 4 17. 5% 5

1. B/S - Loan Growth (KRW bn) 2001 Amount Change 1 Q 2 Q 3 Q 3 Q 2002 YTD Portfolio In % 10, 772. 9 2, 710. 7 1, 056. 1 884. 1 15, 423. 8 43. 2% 49. 5% Home Equity 6, 940. 2 2, 156. 1 572. 9 597. 6 10, 266. 8 47. 9% 33. 0% Others 3, 832. 7 554. 6 483. 2 286. 5 5, 157. 0 34. 6% 16. 6% 10, 618. 9 934. 5 590. 6 -24. 1 12, 119. 9 14. 1% 38. 9% 2, 937. 5 1, 038. 6 -562. 3 89. 7 3, 503. 5 19. 3% 11. 2% 93. 0 5. 2 7. 7 1. 3 107. 2 15. 3% 0. 3% 24, 422. 3 4, 689. 0 1, 092. 1 951. 0 31, 154. 4 27. 6% 100. 0% Consumer SMEs Large Corps. Public & Others Total Loans Footnote: Bank Account Loan in Korean Won 6

Contents 1. B/S Highlight 2. P/L Highlight Ø Income by Individual Subsidiaries Ø SFG Net Profit Ø Interest Income vs. Non-interest Income Ø Non-interest Income Summary Ø NIS and NIM 3. Asset Quality 4. Capital Adequacy Ratio 5. Major Financial Figures 7

2. P&L - Income By Individual Subsidiaries 1 Q 02 2 Q 02 총자산 3 Q 02 Total 312. 6 265. 7 5. 6 823. 3 32. 4 809. 4 5. 7% Securities Capital 8. 5 8. 7 2. 0 8. 8 245. 0 26. 8 1. 6 12. 1 23. 8 -49. 2% 7. 0 1. 2 2. 0 1. 8 26. 5 2. 7 -7. 5% ITMC 24. 5 5. 0 85. 2% 6. 6 5. 5 12. 1 331. 0 290. 7 287. 7 909. 4 862. 4 5. 4% Other Companies 46. 0 2. 0 83. 8 8. 2 38. 3 38. 0 168. 1 48. 2 397. 2 22. 8 -57. 7% 111. 4% Total 47. 9 92. 0 76. 4 216. 3 420. 0 -48. 5% 180. 6 125. 4 3. 9 138. 8 -0. 2 270. 8 65. 6% 6. 3 1. 4 -6. 6 444. 8 3. 7 1. 2 13. 4 -91. 8% Capital 3. 8 2. 2 0. 8 6. 8 3. 8 78. 9% ITMC 0. 8 1. 3 1. 2 3. 3 2. 6 26. 9% 2. 7 1. 3 4. 0 136. 9 135. 3 463. 8 290. 6 59. 6% (KRW bn) Pre-Provision Income Bank Card Jeju Total 3 Q 2001 Yo. Y Loan Loss Provision Bank Net Profit Bank Card Securities Jeju Total 191. 5 8

2. P&L - SFG Net Profit (KRW bn) Bank Net Profit Goodwill Provision Adjustment Operating Expense 444. 8 Total 444. 8 (4. 4) Securities 1. 2 Card 3. 7 Capital 6. 8 ITMC 3. 3 Jeju Bank 4. 0 e Shinhan (0. 6) Shinhan Macquarie (0. 1) Credit Information (0. 3) 3. 7 5. 6 462. 7 12. 4 3. 3 0. 4 (4. 0) 6. 5 2. 1 SFG Total (4. 7) (1. 5) 6. 2 (30. 4)* (30. 4) 434. 6 * Interest income 2. 4, G&A expenses 15. 6, Deffered income tax credits 17. 2 9

2. P&L - Interest Income vs Non-Interest Income (KRW bn) 1 Q 02 2 Q 02 3 Q 02 Total 3 Q 01 Yo. Y Bank Interest Income 261. 9 302. 0 316. 4 880. 3 761. 9 15. 5% Non-Interest Income 200. 2 80. 3 74. 8 355. 3 419. 3 -15. 3% 98. 0 134. 5 432. 7 ※ Including Shinhan Card 3. 2% SFG Interest Income 269. 2 310. 1 309. 9 889. 2 790. 3 12. 5% Non-Interest Income 241. 2 130. 6 180. 2 552. 0 509. 7 8. 3% 10

2. P&L - Non-Interest Income Summary (Shinhan Bank) (KRW bn) Fees & Commissions Credit Card Income 1 Q 02 2 Q 02 총자산 3 Q 02 총자산 Total 3 Q 01 Yo. Y 101. 9 93. 3 69. 2 254. 4 281. 4 -9. 6% 86. 3 68. 1 29. 9 184. 3 216. 2 -14. 8% 85. 8 89. 6 261. 7 ※ Including Shinhan Card 1) 21. 0% Fees on Trust Account 39. 9 25. 2 32. 1 97. 2 92. 2 5. 4% Securities related Income 42. 1 -67. 0 -27. 6 -52. 5 -6. 6 n. a ※ Excluding disposition loss of Hynix 2) -4. 5 Income on FC Transaction 18. 6 35. 3 14. 6 68. 5 79. 3 -13. 6% -2. 3 -6. 7 -3. 3 -12. 3 -27. 0 n. a 200. 2 80. 3 74. 8 355. 3 419. 3 -15. 3% Others Total n. a 10. 0 Footnote) 1) Shinhan Card’s income(Revenue-Expenses) : W 77. 4 bn (From June to September) 2) Losses on disposition of Hynix common share holding : W 62. 5 bn 11

2. P&L - NIS and NIM 1 Q 02 1 H 02 3 Q 01 Yo. Y Average Lending Rate 7. 62% 7. 52% 7. 47% 8. 75% -1. 28%p Average Deposit Rate 4. 54% 4. 46% 4. 41% 6. 02% -1. 61%p NIS in KRW 3. 08% 3. 06% 2. 73% 0. 33%p NIS in KRW(excluding Credit Card) 2. 49% 2. 54% 2. 14% 0. 40%p 2. 76% 2. 80% 2. 78% 2. 76% 0. 02%p NIM in KRW 2. 88% 2. 93% 2. 91% 2. 83% 0. 08%p NIM in FX 1. 86% 1. 79% 1. 82% 2. 34% -0. 52%p 2. 37% 2. 42% 2. 41% 2. 50% -0. 09%p NIM in KRW 2. 44% 2. 51% 2. 50% 2. 53% -0. 03%p NIM in FX 1. 86% 1. 77% 1. 80% 2. 34% -0. 54%p NIS NIM Including Credit Card NIM Excluding Credit Card NIM 12

Contents 1. B/S Highlight 2. P/L Highlight 3. Asset Quality Ø Asset Classification and Coverage Ratio Ø Delinquency Ratio Ø Credit Card Asset Quality Ø Additional Provisions Ø Exposure to Hyundai Affiliates 4. Capital Adequacy Ratio 5. Major Financial Figures 13

3. Asset Quality – Shinhan Bank (KRW bn) Total Credits 2001 1 Q 02 총자산 2 Q 02 3 Q 02 YTD 35, 920. 7 41, 371. 7 41, 196. 3 42, 865. 9 19. 3% 868. 1 735. 7 614. 8 680. 7 -21. 6% 2. 42% 1. 78% 1. 49% 1. 59% -0. 83 p% 1, 939. 6 1, 863. 9 1, 523. 7 1, 522. 9 -21. 5% 5. 40% 4. 51% 3. 70% 3. 55% -1. 85%p 623. 2 663. 4 646. 4 674. 7 8. 26% Substandard & below 71. 8% 90. 2% 105. 1% 99. 1% 27. 3%p Precautionary & below 32. 1% 35. 6% 42. 4% 44. 3% 12. 2%p NPLs Sold 1) 161. 4 116. 1 0 0 n. a Write-offs 729. 8 26. 2 33. 5 25. 2 -88. 4% Substandard & below Ratio Precautionary & below Ratio Provisions Coverage Ratio Footnote) 1. ABS Issue 2. The numbers for NPLs Sold and Write-offs are not accumulated basis(quarterly figures) 14

3. Asset Quality – Delinquency Ratio (KRW bn) 2001 Loan Amount 1 Q 02 2 Q 02 3 Q 02 YTD 11, 140. 4 13, 780. 2 14, 751. 2 15, 603. 4 40. 1% Delinquency Amount 89. 0 118. 5 96. 1 164. 5 84. 8% Home Equity Loan Unsecured Loan 27. 0 38. 8 44. 9 56. 1 36. 5 30. 5 79. 8 50. 0 195. 6% 28. 9% 13, 730. 5 15, 652. 2 15, 657. 1 15, 744. 5 14. 7% 240. 6 186. 8 159. 2 223. 2 -7. 2% 33, 469. 7 38, 840. 6 38, 634. 8 40, 350. 9 20. 6% 565. 6 536. 0 332. 4 472. 3 -16. 5% 0. 80% 0. 86% 0. 65% 1. 05% 0. 25%p Home Equity Loan 0. 39% 0. 48% 0. 36% 0. 74% 0. 35%p Unsecured Loan 1. 48% 2. 45% 1. 29% 1. 95% 0. 47%p Corporate 1. 75% 1. 19% 1. 02% 1. 42% -0. 33%p Total 1. 69% 1. 38% 0. 86% 1. 17% -0. 52%p Retail Corporate Loan Amount Delinquency Amount Total Loan Amount Delinquency Ratio Retail Footnote) Shinhan Bank only 15

3. Asset Quality – Shinhan Card 2001 1 Q 02 (KRW bn) 2 Q 02 Spin-off 3 Q 02 YTD Change in classification standard 2, 012. 2 2, 232. 8 2, 444. 2 2, 460. 1 22. 3% Precautionary 35. 5 42. 4 2. 2 80. 3 126. 2% Substandard 1. 0 0. 9 0. 0 n. a Doubtful 17. 0 20. 9 0. 0 36. 6 115. 3% Estimated Loss 27. 7 31. 7 21. 3 39. 5 42. 6% 2, 093. 4 2, 328. 7 2, 467. 7 2, 616. 4 25. 0% Substandard & below 2. 19% 2. 30% 0. 86% 2. 91% 0. 72%p Precautionary & below 3. 88% 4. 12% 0. 95% 5. 98% 2. 10%p 85. 3 98. 5 77. 9 89. 4 4. 8% Substandard & below 186. 3% 183. 9% 365. 7% 117. 5% -68. 8%p Precautionary & below 104. 9% 102. 7% 331. 9% 57. 2% -47. 75 p Over 1 month 3. 03% 3. 84% 4. 63% 5. 46% 2. 43%p Over 1 day 6. 30% 7. 16% 8. 21% 9. 93% 3. 63%p Normal Total Credits Provisions Coverage Ratio Delinquency Ratio Footnote) 1. Based on Shinhan Card and Shinhan Bank’s “Purchase Card” 16

3. Asset Quality – Additional Provisions from Regulatory Requirement Changes or Amendment Provision Requirement(E) Net Income Impact(E) Application Period Consumer Loan (Precautionary) Increase in Provision Ratio 5% ⇒ 8% 2. 6 bn △ 1. 8 bn End of 2002 Corporate Loan (Normal) Increase in Provision Ratio 0. 5% ⇒ 0. 75% 27. 4 bn △ 19. 2 bn TBD Credit Card (Precautionary) Increase in Provision Ratio 7% ⇒ 12% 3. 9 bn △ 2. 7 bn End of 2002 Total 6. 5 ∼ 33. 9 bn △ 4. 6 ∼ △ 23. 7 bn 17

3. Asset Quality – Exposure to Hyundai Affiliates 18

Contents 1. B/S Highlight 2. P/L Highlight 3. Asset Quality 4. Capital Adequacy Ratio 5. Major Financial Figures 19

4. Capital Adequacy Ratio (KRW bn) 2001 1 Q 02 2 Q 02 3 Q 02(E) 2002(E) Shinhan Bank only Risk-weighted Assets 35, 772. 0 40, 086. 2 38, 963. 0 40, 461. 0 Tier 1 Capital 2, 955. 9 3, 150. 2 2, 682. 1 2, 788. 3 Tier 2 Capital 1, 343. 5 1, 357. 4 1, 520. 8 1, 460. 1 Capital Adequacy Ratio 12. 02% 11. 24% 10. 79% 10. 50% Tier 1 Ratio 8. 26% 7. 86% 6. 88% 6. 89% 6. 90% Tier 2 Ratio 3. 76% 3. 39% 3. 90% 3. 61% 3. 60% 41, 881. 0 42, 787. 7 Tier 1 Capital 3, 303. 3 4, 000. 2 Tier 2 Capital 1, 193. 8 1, 395. 8 Capital Adequacy Ratio 10. 74% 12. 61% Tier 1 Ratio 7. 89% 9. 35% Tier 2 Ratio 2. 85% 3. 26% Shinhan Group(E) Risk-weighted Assets ☞ Excluding GMSH securities’ minority interest, BIS ratio and tier 1 ratio would be 11. 27% and 8. 01% respectively 20

Contents 1. B/S Highlight 2. P/L Highlight 3. Asset Quality 4. Capital Adequacy Ratio 5. Major Financial Figures 21

5. Major Financial Ratio (KRW) 2001 1 Q 02 1 H 02 3 Q 02 2002 (P) ROA 0. 79% 1. 33% 1. 10% 0. 96% 1. 03% ROE 13. 83% 24. 05% 18. 70% 17. 48% 20. 00% BVPS 12, 312 13, 210 13, 505 13, 449 13, 265 EPS 1, 498 2, 641 2, 257 1, 987 2, 334 Loan to Deposit Ratio 81. 1% 87. 1% 92. 0% 94. 7% 91. 2% Cost-income Ratio Consolidated Bank 42. 23% 41. 26% 37. 31% 43. 83% 36. 97% 36. 21% 36. 92% 32. 87% 34. 57% 35. 81% 2. 42% 1. 78% 1. 49% 1. 59% 1. 75% Substandard & below ratio* * Loan to deposit ratio / Substandard & below ratio are for Shinhan Bank only 22

Your Contacts Investor Relations D. H. Lee, Head of IR Team Tel : (822) 6360 -3071 dhlee 01@shinhan. com I. C. Park, Deputy General Manager Tel : (822) 6360 -3072 icpark@shinhan. com S. H. Yu, Senior Manager Tel : (822) 6360 -3073 irshy@shinhan. com S. J. Han, Assistant General Manager Tel : (822) 6360 -3074 sjhan@shinhan. com Fax : (822) 777 -1883 / 6263 -8070 23