Shinhan Financial "Sets Aside 56 Billion Won in Provisions for 'Lime Incident'"
[Asia Economy Reporter Kwon Haeyoung] Shinhan Financial Group announced that Shinhan Investment Corp. has set aside a provision of 56 billion KRW in relation to the Lime Asset Management incident, which caused a suspension of redemptions due to 'fund rolling.'
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On the 5th, Kim Taeyeon, head of Shinhan Financial Group, said during a conference call held after the announcement of the '2019 Business Performance Status,' "Samil Accounting Corporation is conducting an audit on the bonds held by Lime Asset Management," adding, "We have proactively set aside a provision of 56 billion KRW before tax (41 billion KRW after tax), calculated more conservatively than the interim audit results."
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