Hana Financial : Report

Interim Consolidated Financial Statements

For the three-month periods ended March 31, 2024 and 2023

With the Independent Auditor's Review Report

Table of contents

	Page
Independent Accountant's Review Report	1
Interim Consolidated Financial Statements
Interim Consolidated Statements of Financial Position	5
Interim Consolidated Statements of Profit or Loss and Other ComprehensiveIncome	7
Interim Consolidated Statements of Changes in Equity	9
Interim Consolidated Statements of Cash Flows	11
Notes to Interim Consolidated Financial Statements	13

Independent Accountant's Review Report

(EnglishTranslation of Independent Auditor'sReviewReport Originally Issued in Korean on May 14, 2024)

To the Shareholders and Board of Directors of

Hana Bank Co., Ltd. and its subsidiaries:

Report on the Interim Consolidated Financial Statements

We have reviewed the accompanying interim consolidated financial statements of Hana Bank Co., Ltd. (the "Bank") and its subsidiaries (collectively,

the "Group"), which comprise the interim consolidated statement of financial position as of March 31, 2024, and the related interim consolidated statements of profit or loss and comprehensive income, interim consolidated statements of changes in equity and interim consolidated statements of cash flows for the three month periods ended March 31, 2024 and 2023, all expressed in Korean won, and a summary of material accounting policies and other explanatory information.

Management's Responsibility for the Interim Consolidated Financial

Statements

Management is responsible for the preparation and presentation of these interim consolidated financial statements in accordance with Korean International Financial Reporting Standards ("K-IFRS") 1034, Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of the interim consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Independent Accountant's Responsibility

Our responsibility is to express a conclusion on these interim consolidated financial statements based on our review.

We conducted our review in accordance with the review standards for interim financial statements in the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing ("KSA") and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Review Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim consolidated financial statements are not prepared, in all material respects, in accordance with K-IFRS 1034.

Others

We have audited the consolidated statement of financial position of the Group

as of December 31, 2023, and the related consolidated statement of profit or loss and comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended (not presented herein) in accordance with KSA, and our report dated February 29, 2024, express ed an unqualified opinion thereon. The accompanying consolidated statement of financial position as of December 31, 2023, presented for comparative purposes is not different, in all material respects, from the above audited consolidated statement of financial position.

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May 14, 2024

This review report is effective as of May 14, 2024, the independent auditor's review report date. Accordingly, certain material subsequent events or circumstances may have occurred during the period from the date of the independent accountant's review report to the time this report is used. Such events and circumstances could significantly affect the accompanying interim consolidated financial statements and may result in modifications to this review report.

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HANA BANK CO., LTD.

and its subsidiaries

Interim Consolidated Financial Statements

as of March 31, 2024, and December 31, 2023, and for the three-month periods ended March 31, 2024 and 2023

(With the Independent Accountant's Review Report)

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Interim Consolidated Statements of Financial Position

	As of March 31, 2024, and December 31, 2023
Hana Bank Co., Ltd. and its subsidiaries			(KRW in millions)
	Accounts	March 31, 2024 (unaudited)	December 31, 2023
Assets
1.	Cash anddue frombanks (Notes 4, 5, 6, 8, 10 and 50)	37,478,271		30,564,279
2.	Financial assets at FVTPL (Notes 4, 5, 6, 7, 8, 11, 14 and16)	21,384,823		17,514,876
3.	Derivative assets used for hedging(Notes 4 ,5 ,6, 7, 8 and 16)	1,092		1,723
4.	Financial assets at FVOCI (Notes 4, 5, 6, 7, 8, 12 and14)	37,525,158		36,894,111
5.	Securities at amortized cost (Notes 4, 5, 6, 7, 8, 13 and 14)	36,692,340		36,337,949
6.	Loans (Notes 4, 5, 6, 7, 8 and15)	345,223,634		347,246,910
7.	Investments in associates and a joint venture (Note 17)	3,411,133		3,280,152
8.	Property, plant andequipment (Notes 9 and18)	2,649,375		2,415,210
9.	Investment properties (Notes 9 and 19)	680,198		675,523
10. Intangible assets (Notes 9 and20)	431,236		428,880
11. Current tax assets	40,071		37,770
12. Deferredtax assets (Note 47)	134,976		133,742
13. Other assets (Notes 4, 5, 6, 7, 8, 22)	23,556,106		18,634,009
14. Merchant bankingaccount assets (Notes 4, 5, 6, 8 and22)	4,341,937		4,637,824
15. Non-current assets heldfor sale (Note 21)	40,489		40,478
Total assets		513,590,839		498,843,436
Liabilities
1.	Deposits (Notes 4, 5, 6, 8 and23)	374,715,085		369,749,453
2.	Financial liabilities at FVTPL (Notes 4, 5, 6, 7, 8, 16 and24)	8,578,121		6,729,210
3.	Derivative liabilities used for hedging(Notes 4, 5, 6, 7, 8 and 16)	424,768		390,979
4.	Borrowings (Notes 4, 5, 6, 7, 8, 25 and 50)	22,360,676		22,033,914
5.	Debentures (Notes 4, 5, 6, 8, 26 and50)	25,791,287		26,542,179
6.	Net definedbenefit liabilities (Note 27)	162,806		173,575
7.	Provisions (Note 28)	768,042		760,573
8.	Current tax liabilities	298,637		165,398
9.	Deferredtax liabilities (Note 47)	317,872		253,200
10. Other liabilities (Notes 4, 5, 6, 7, 8, 29 and 50)	43,713,743		35,805,942
11. Merchant bankingaccount liabilities (Notes 4, 5, 6, 8 and29)	4,405,594		4,154,697
Total liabilities		481,536,631		466,759,120
Equity
Equity attributable to owners of the parent		31,745,499		31,782,740
1.	Capital stock (Note 30)	5,359,578		5,359,578
2.	Capital surplus (Note 30)	6,161,303		6,161,303
3.	Hybrid equity securities (Note 30)	353,738		353,738
4.	Capital adjustments (Note 30)	(37,652)		(37,921)
5.	Retainedearnings (Note 32)

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	Accounts	March 31, 2024 (unaudited)	December 31, 2023
(Regulatory reserve for baddebts in the amount of:
March	31, 2024: ￦2,557,402 million
December 31, 2023: ￦2,690,108 million
Required provision (reversal of) for bad debts in the amount of:	20,890,408		21,050,087
March	31, 2024: ￦78,027 million
December 31, 2023: ￦(112,706) million
Plannedprovision (reversal of) for baddebts in the amount of:
March	31, 2024: ￦78,027 million
December 31, 2023: ￦(112,706) million) (Note 33)
6. Accumulatedother comprehensive loss (Note 31)	(981,876)		(1,104,045)
Non-controllinginterests		308,709		301,576
Total equity			32,054,208		32,084,316
Total liabilities andequity		513,590,839		498,843,436

Seenotes to interim consolidated financial statements.

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Interim Consolidated Statements of Profit or Loss and Other Comprehensive Income

For the three-month periods endedMarch 31, 2024 and 2023
Hana Bank Co., Ltd. andits subsidiaries		(KRW in millions)
	March 31, 2024 (unaudited)	March 31, 2023 (unaudited)
Accounts
For the three-month period	For the three-month period
	ended	ended
I. Net interest income (Notes 9, 34 and35)	1,968,776	2,000,451
1. Interest income	5,100,756	4,724,694
Interest income on financial instruments at FVOCI and	5,045,981	4,691,822
Amortised Cost ("AC")
Interest income on financial instruments at FVTPL	54,775	32,872
2. Interest expenses	(3,131,980)	(2,724,243)
II. Net fee andcommission income (Notes 9, 34 and36)	200,614	183,504
1. Fees andcommission income	267,380	242,897
2. Fees andcommission expenses	(66,766)	(59,393)
III. Net gain on financial instruments at FVTPL (Notes 9, 16, 34 and 37)	119,763	106,808
IV. Net gain (loss) on derivative financial instruments usedfor hedging	(21,006)	16,354
(Notes 9, 34 and38)
V. Net gain on financial instruments at FVOCI (Notes 9, 34, 39 and50)	47,227	62,991
VI. Net gain (loss) on financial instruments at AC	1	(4)
(Notes 9, 13, 34 and 40)
VII. Provision for allowance for credit loss (Notes 9, 34 and 41)	(75,446)	(155,496)
VIII. General andadministrative expenses (Notes 9, 34 and42)	(823,880)	(859,631)
IX. Other operatingincome (Notes 9, 34 and43)	1,433,973	2,177,335
X. Other operatingexpenses (Notes 9, 34 and44)	(1,554,704)	(2,200,637)
XI. Operatingincome	1,295,318	1,331,675
XII. Net non-operatingexpenses	(154,414)	(31,079)
1. Non-operating income (Notes 9, 17 and45)	90,389	52,315
Gain fromusingequity method	78,443	38,915
Other income	11,946	13,400
2. Non-operating expenses (Notes 9, 17 and46)	(244,803)	(83,394)
Loss fromusingequity method	(5,259)	(8,980)
Other expenses	(239,544)	(74,414)
XIII. Income before income tax expenses	1,140,904	1,300,596
XIV. Income tax expenses (Notes 9 and47)	(295,055)	(326,427)
XV. Net income for the period	845,849	974,169

1. Owners of the parent

(Adjusted income after regulatory reserve for baddebt

in the amount of	843,153	970,749
March 31, 2024: ￦765,126 million
March 31, 2023: ￦821,092 million) (Note 33)
2. Non-controllinginterests	2,696	3,420
XVI. Other comprehensive income (Note 31)	124,037	538,186

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		March 31, 2024 (unaudited)	March 31, 2023 (unaudited)
	Accounts
	For the three-month period	For the three-month period
		ended	ended
Items that may be reclassifiedsubsequently to profit or loss:	141,866		520,296
1.	Gain on valuation of debt securities at FVOCI	1,860		290,691
2.	Gain on translation of foreign operations	120,634		183,336
3.	Changes in equity on investments in associates	50,872		79,421
4.	Loss on valuation of net investment hedges of foreign operations	(31,500)		(33,152)
Items that will not be reclassifiedsubsequently to profit or loss:	(17,829)		17,890
1.	Remeasurement of defined benefit plans	(2,479)		(3,437)
2.	Gain (loss) on valuation of equity securities at FVOCI	(13,343)		21,056
3.	Changes in equity on investments in associates	(2,007)		271
XVII.	Total comprehensive income for the period		969,886		1,512,355
1.	Owners of the parent	962,753		1,489,731
2.	Non-controllinginterests	7,133		22,624
XVIII. Earnings per share (Note 48) (Korean won)
1.	Basic earnings per share		787		903
2.	Diluted earnings per share		787		903

Seenotes to interim consolidated financial statements.

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