[Asia Economy Reporter Kim Hyo-jin] Woori Comprehensive Financial announced on the 26th that it recorded an operating profit of 56.3 billion KRW and a net profit of 50.1 billion KRW for the cumulative third quarter of this year. It exceeded the previous year's annual operating profit of 53.9 billion KRW in just three quarters.
A Woori Comprehensive Financial official stated, "In response to the rapidly changing environment, we increased assets mainly through short-term high-quality loans, and strategically expanded high-yield assets such as project financing (PF) considering risks, resulting in a 49.5% increase in net interest income compared to the same period last year. Additionally, non-interest income also grew by 20.6% year-on-year due to favorable growth in IB fee income and securities management performance."
The official added, "The cumulative third quarter return on assets (ROA) was 1.7%, and return on equity (ROE) was 17.0%, showing excellent profitability. To sustain growth, we are conducting a paid-in capital increase of 100 billion KRW. Once the capital increase is completed, some constraints such as financial ratios and business limits will be eased, allowing us to expand businesses such as IB operations and bond management."
Meanwhile, Woori Comprehensive Financial is focusing on strengthening non-interest income, enhancing risk management sophistication, and boosting digital finance capabilities in response to the 'Next Normal' era following the COVID-19 pandemic.
In particular, it recently established a Digital Finance Department and launched ‘The Dream Jeonggijeokgeum 2’, a non-face-to-face exclusive product. Going forward, it plans to strengthen competitiveness in non-face-to-face channels through customer-centric service improvements and various marketing efforts.
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