Shinhan Bank said on the 8th that this year's cumulative gold bar transactions have topped 3,000 kg. The cumulative transaction amount over the same period comes to about 484.3 billion won.
As of the 30th of last month, the figure includes both sales and repurchases of Shinhan Bank brand gold bars and brokered gold bars in transactions.
Shinhan Bank launched gold banking services in 2003, the first among banks. It is currently the only bank selling its own brand gold bars. In July, it also expanded its product lineup by launching a 100 g silver bar, the first of its kind in the financial sector.
Shinhan Bank also offers the Shinhan Gold Rich product, which allows free gold investing through a passbook account. This year, new and transaction amounts in Gold Rich accounts totaled 856.5 billion won.
A Shinhan Bank official said, "We will continue to expand a variety of gold- and silver-related products that enhance customers' asset stability and broaden their investment choices."