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Global Top Cat

Take Five: Our Top Picks in Asia

By Yiannis G. Mostrous, on Dec. 18, 2013

Although Shinhan Financial Group’s ADR has returned about 20 percent since we first highlighted the company in Banking on South Korea, the stock remains one of our favorite financial picks in Asia.

The company became one of South Korea’s four largest financial institutions after acquiring Choheung Bank in 2003 and LG Card in 2007.

With a foothold in every important product category and long track record of effective risk management, Shinhan Financial Group should be able to take advantage of increasing loan demand from corporate and retail customers.

All indications point to robust loan growth in the fourth quarter, especially in the retail and small-business segments.

Although the stock’s value proposition has diminished since we first spotlighted the company, South Korea’s export-weighted economy should benefit significantly from an improving outlook for global trade.

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