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 1Q 2009 Operating Results

     On May 4, 2009, Shinhan Financial Group held an earning release conference for 1Q 2009, which was also aired through a live web-cast and conference call. Below are the key figures we announced through a fair disclosure. The full IR presentation material and an audio recording of our web-cast and conference call are available at our website (www.shinhangroup.com).

     The financial information in this report has been prepared in accordance with accounting principles generally accepted in Korea and are to be audited by our independent auditor. As figures provided have not yet been fully audited by external auditors, contents are subject to change in the due course of the auditing process.

1. Operating Results of Shinhan Financial Group (consolidated)

(KRW million)
																		Change
		1Q 2009				4Q 2008				Change (in%)				1Q 2008				(in%)
Operating Revenue			22,377,818				23,148,507				-3.3	%			11,081,787				101.9	%
Operating Income			205,724				512,121				-59.8	%			856,042				-76.0	%
Income from Continuing Operation			204,029				486,148				-58.0	%			902,524				-77.4	%
Net Income			118,117				283,724				-58.4	%			620,353				-81.0	%

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

(KRW million)
																		Change
		1Q 2009				4Q 2008				Change (in%)				1Q 2008				(in %)
Operating Revenue			19,849,589				20,214,901				-1.8	%			8,764,655				126.5	%
Operating Income			116,158				376,394				-69.1	%			533,907				-78.2	%
Income from Continuing Operation			104,333				444,772				-76.5	%			525,561				-80.1	%
Net Income			73,731				356,682				-79.3	%			381,763				-80.7	%

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

(KRW million)
																		Change
		1Q 2009				4Q 2008				Change (in%)				1Q 2008				(in %)
Operating Revenue			985,638				990,020				-0.4	%			1,067,438				-7.7	%
Operating Income			171,078				207,318				-17.5	%			389,276				-56.1	%
Income from Continuing Operation			173,046				201,896				-14.3	%			438,724				-60.6	%
Net Income			142,569				126,785				12.4	%			317,471				-55.1	%

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.

Date: May 4, 2009