Shinhan Financial Group Co Ltd

SHG

Not Compliant
Exchange
Sector
Headquarters
Group
NYSE
Financials
Korea; Republic (S. Korea)
Large Cap

Shinhan Financial Group Co Ltd is not Shariah Compliant because of its involvement in Banks (NEC) and related activities.

-

Impure Income*

$6.624

Purification*

-

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Total Analysts
Revenue Growth
Large Cap
STRONG BUY
$97.29
1
6.95%
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
39.59%
28.73%
0.00
0.00
15.26%

Shariah Compliance

  • Updated on July 21, 2026
Debt
100%
✗
Non-Compliant Assets
1.81%
✓
Impure Income

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
100%
✗
Impure Income

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
100%
✗
Impure Income

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
18.72%
✓
Cash
27.74%
✓
Cash & AR
27.74%
✓
Impure Income

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
18.72%
✓
Cash
27.74%
✓
Cash & AR
27.74%
✓
Impure Income

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

-
-
Interest Income
-

Note on Purification and Zakat:

  • Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly). 
  • If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
  • For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them. 

Company Profile

Shinhan Financial Group Co Ltd is a Korea-based holding company primarily engaged in banking business. The Company operates its business through six segments. The Banking segment engages in lending, deposit-taking, and other related businesses. The Credit Card segment engages in businesses such as credit card issuance, long-term and short-term card loans, installment financing, as well as leasing. The Insurance segment engages in life insurance and non-life insurance businesses. The Securities segment engages in trading of securities, brokerage, underwriting, and other related businesses. The Specialized Lending segment engages in facility leasing, financing for new technology businesses, and other related businesses. The Other segment engages in asset management, savings banking, real estate trust, system development and supply, general administrative management of collective investments, real estate, trust business, as well as collective investment business.