Headquartered in Seoul, South Korea, Shinhan Bank was founded in 1897, at which time it was known as Hanseong Bank. Owned and operated by the Shinhan Financial Group, Shinhan Bank official merged with Jeju Bank in 2006. Though initially started as a relatively modest enterprise, the company now operates in excess of 1,000 branches and has a global workforce totalling nearly 11,000 employees. The company's equity has also grown enormously over recent years, with total deposits for the year 2016 coming out at around KRW 221.047 trillion. Just a few of the services provided by Shinhan Bank include checking accounts, savings accounts, insurance, investments, mortgages, consumer finance and many more besides. Legend has it that the very first asset used to secure a loan at Shinhan Bank was a donkey, which every member of the team contributed to the welfare of.