SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934

SHINHAN FINANCIAL GROUP CO., LTD.

(Translation of registrant’s name into English)

120, 2-Ga, Taepyung-Ro, Jung-Gu, Seoul 100-102, Korea
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F þ     Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o     No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-                    .

 

 

Shinhan Financial Group 2008 3Q Operating Results

     On October 31, 2008, Shinhan Financial Group (“SFG”) announced its operating results for the nine month period ended on September 30, 2008. Below are the key figures we announced through a fair disclosure. The IR presentation materials are available on our website (www.shinhangroup.com).

     The financial information herein has been prepared in accordance with accounting principles generally accepted in Korea. As figures provided have not yet been fully reviewed by external auditors, contents are subject to change in the due course of the review process.

1. Operating Results of Shinhan Financial Group (consolidated)

(KRW Million)

		3Q 2008				3Q 2007
		(9months)				(9months)				Chg%
Operating Revenue			36,627,447				19,352,382				89.3	%
Operating Income			2,520,236				3,488,663				-27.8	%
Continuing Operations Income Before Income Tax			2,507,698				3,550,626				-29.4	%
Net Income			1,734,903				2,170,649				-20.1	%

(KRW Million)

		3Q 2008				2Q 2008								3Q 2007
		(3months)				(3months)				Chg%				(3months)				Chg%
Operating Revenue			15,944,562				9,616,503				65.8	%			6,568,573				142.7	%
Operating Income			515,183				1,149,007				-55.2	%			858,550				-40.0	%
Continuing Operations Income Before Income Tax			494,243				1,110,929				-55.5	%			877,535				-43.7	%
Net Income			323,272				791,278				-59.1	%			524,207				-38.3	%

2. Operating Results of Shinhan Bank (non-consolidated)

(KRW Million)

		3Q 2008				3Q 2007
		(9months)				(9months)				Chg%
Operating Revenue			29,298,125				12,685,993				130.9	%
Operating Income			1,529,418				2,655,672				-42.4	%
Continuing Operations Income Before Income Tax			1,458,364				2,588,307				-43.7	%
Net Income			1,090,045				1,853,915				-41.2	%

(KRW Million)

		3Q 2008				2Q 2008								3Q 2007
		(3months)				(3months)				Chg%				(3months)				Chg%
Operating Revenue			13,337,746				7,201,996				85.2	%			4,148,992				221.5	%
Operating Income			313,209				682,303				-54.1	%			587,210				-46.7	%
Continuing Operations Income Before Income Tax			292,052				640,751				-54.4	%			471,854				-38.1	%
Net Income			214,317				493,965				-56.6	%			316,075				-32.2	%

3. Operating Results of Shinhan Card (non-consolidated)

(KRW Million)

		3Q 2008				3Q 2007
		(9months)				(9months)				Chg%
Operating Revenue			3,155,854				2,053,207				53.7	%
Operating Income			1,071,674				927,659				15.5	%
Continuing Operations Income Before Income Tax			1,122,479				933,926				20.2	%
Net Income			813,790				1,394,939				-41.7	%

(KRW Million)

		3Q 2008				2Q 2008								3Q 2007
		(3months)				(3months)				Chg%				(3months)				Chg%
Operating Revenue			1,112,432				1,008,826				10.3	%			659,433				68.7	%
Operating Income			321,492				360,906				-10.9	%			230,472				39.5	%
Continuing Operations Income Before Income Tax			322,666				361,090				-10.6	%			231,749				39.2	%
Net Income			234,823				261,497				-10.2	%			194,223				20.9	%

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.