Woori Financial Savings Bank Conducts 100 Billion KRW Paid-in Capital Increase

Preparing to Enter Top 10 Industry Level... Expanding Mid-Interest Rate Loan Portfolio

[Asia Economy Reporter Kwangho Lee] Woori Financial Savings Bank announced on the 7th that it held a board meeting and resolved a paid-in capital increase of 100 billion KRW.

With this capital increase resolution, Woori Financial Savings Bank has laid the groundwork to increase its equity capital to the 200 billion KRW level, enabling it to enter the top 10 in the industry.

Additionally, leveraging this paid-in capital increase, the bank plans to take a further step forward as a top-tier digital financial institution for the underprivileged, actively promoting investments to strengthen digital capabilities as well as expanding its mid-interest loan portfolio focused on community finance.

In particular, this aligns with Woori Financial Group's management strategy to expand its growth base, and it is expected to contribute more to the group's profitability by enhancing business competitiveness.

Previously, in December last year, Woori Financial incorporated Woori Financial Savings Bank as a 100% subsidiary, and in March, in accordance with the Financial Holding Company Act, it swiftly incorporated it as a subsidiary, establishing a more efficient management system with a horizontal portfolio alongside other subsidiaries.

Shin Myung-hyuk, CEO of Woori Financial Savings Bank, said, "Based on Woori Financial's strong support, this paid-in capital increase, the first in about 10 years since 2012, has created a momentum for a new leap within the industry," adding, "We have secured a foundation for sustainable growth along with improved management stability."