|Date joined:||2 January, 2008|
|Initiatives:||Net Zero Banking Alliance and Principles for Responsible Banking|
Shinhan Bank is headquartered in Seoul, Korea. Historically it was the first bank in Korea, established under the name Hanseong Bank in 1897. The bank was reestablished in 1982. Today, it has transformed itself into a large bank, boasting total assets of KRW 176.9 trillion, equity capital of KRW 9.7 trillion, 10,741 employees, and 1,026 branches as of 2009. Total deposits and net income amounted to KRW 105.3 trillion and KRW 1.4 trillion, respectively.
Shinhan Bank and CSR
From the early 1980’s in which corporate ethics social responsibility was not brought into question even in countries with advanced finance, Shinhan Bank introduced the social responsibility management scheme. Since its incorporation, Shinhan bank pursued with honesty and faithfulness the basic principles and by promoting customer convenience and wealth creation, we have aimed to create a variety of social responsibility management programs and have grown as Korea’s representative service model enterprise. In 2005, Shinhan Bank Published the Corporate social responsibility Report for the first time in domestic financial industry and by publishing the report on a regular basis, Shinhan bank has informed its stakeholders on the progress of social responsibility management in detail. Since April 2006, with the launch of integrated Shinhan Bank has become a strong defender of the national economy and has promoted the financial industry to contribute to the creation of national welth and the direction of social responsibility. By setting the goal of ‘co-existence with stakeholders’, it has established the goal and strategy of social responsibility management and operated a task-specific and systematic practice of short and long term management program.
Link to Annual Report
Link to SR Report
Information on their UNEP FI membership