History
Preparing for New Tomorrow with Advanced Innovation
In Dec. 1997, the IMF crisis threw the domestic financial industry into turmoil. However, Shinhan Bank was able to minimize the impacts of the crisis thanks to the retail revolution it had been pioneering, and was rated as a blue-chip bank by the government, acquiring Donghwa Bank. Under the government’s supervisory system, we focused on qualitative growth by raising CRAR, fundraising, and building an advanced financial system, while enhancing our future capabilities by introducing a new matrix model and launching the first internet banking in Korea toward the 21st century.
Chapter 03. Overcoming a Crisis
2000-1997
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- 2000
- Oct. Announced the plan for
establishing
a general financial group by the holding company - Established the
establishment office
and the preparation committee for the holding company
- 1999
- Aug. Total deposits of the Shinhan Bank recorded 30 trillion won
- Jun. Introduced the first
internet banking system in Korea(Shinhan Bank-Shinhan EZ Bank)
- May Renamed Shinhan Lease to
Shinhan Capital(Co.)
- Apr. Shinhan Securities started cyber business in a full scale(Shinhan Cyber EZ Stock)
- Shingan Bank issued overseas GDR of 400 million dollars
- Jan. Introduced the business branch system for each customer, the first in Korea(Shinhan Bank)
- 1998
- Aug. Acquired Donghwa Bank on
a P&G basis(Shinhan Bank)
- Jun. Introduced the Business Division system, first among Korean banks(Shinhan Bank)