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Shinhan Financial is Korea?s largest banking group. Its 11.5% market share of loans trails KB?s 13.3%, but Shinhan has more contribution from nonbank and overseas businesses than rivals. Nonbank units include Shinhan Card, the country?s largest credit card company, brokerage firm Shinhan Investment, and a top-five presence in life insurance following the acquisition of Orange Life (formerly ING). It also owns leasing firm Shinhan Capital, Shinhan Asset Management, and regional bank Jeju Bank, among others. Unlike KB, whose predecessor banks were originally founded by the government, Shinhan has always been a private-sector bank, having grown to the top spot organically and through M&A after having been only a second-tier player before the Asian financial crisis.
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