Woori Comprehensive Financial, Q1 Net Profit 13.4 Billion KRW... 8.4% Increase YoY

[Asia Economy Reporter Kim Hyo-jin] Woori Comprehensive Financial announced on the 27th that it recorded an operating profit of 14.5 billion KRW and a net profit of 13.4 billion KRW in the first quarter of this year. This represents an increase of 4.4% and 8.4%, respectively, compared to the same period last year.

A Woori Comprehensive Financial official stated, "Assets such as loans and securities have continuously increased, leading to a stable rise in net interest income," adding, "Despite the depressed business environment due to COVID-19, as of the end of the first quarter, the return on total assets was 1.5%, and the return on equity was 14.4%, indicating favorable profitability indicators. Additionally, the KRW liquidity ratio was 180.2%, and the ratio of non-performing loans below fixed was 0.47%, maintaining good liquidity and soundness."

Woori Comprehensive Financial has formed an emergency response organization to cope with the rapidly changing management environment caused by the novel coronavirus infection (COVID-19) and has recently begun on-site inspections of real estate PF (Project Financing) sites, prioritizing stability in its business operations.

A Woori Comprehensive Financial official said, "Even in a situation where the low interest rate trend continues and economic uncertainty is high, we are actively pursuing new revenue sources and other business initiatives," adding, "In particular, we will accelerate the increase of non-interest income by actively expanding CIB (Corporate Investment Banking) operations, bond management, and brokerage services, which have been promoted since last year."

This content was produced with the assistance of AI translation services.