Investors have gotten a little skittish about the prospects for an ongoing economic recovery in South Korea, as large exporters and sectors like property seem to be recovering but smaller businesses see more tepid results. That has stalled out the momentum in Korea's banking sector, but conservatively managed Shinhan Financial Group (NYSE:SHG) continues to perform well from an internal operations standpoint. Although I see prospects for Shinhan to average a low teens earnings growth rate over the next five years, there just doesn't seem to be much value in the shares at this price.
A Balanced, Diversified Approach
Shinhan is not the largest Korean bank in South Korea (it's third behind Kookmin, which operates as KB Financial...
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