Woori Comprehensive Financial, H1 Net Profit of 31.4 Billion KRW... Largest Half-Year Result

[Asia Economy Reporter Kim Hyo-jin] Woori Comprehensive Financial announced on the 27th that it recorded an operating profit of 35.2 billion KRW and a net profit of 31.4 billion KRW in the first half of this year. These figures represent increases of 38.4% and 40.8%, respectively, compared to the same period last year, marking the highest half-year performance to date.

A representative from Woori Comprehensive Financial stated, "Net interest income increased by 49.1% compared to the same period last year as we expanded assets mainly through high-quality loans and securities. Additionally, non-interest income grew by 21.5% year-on-year, driven by IB business fees and the bond management segment launched last year, showing growth in both interest and non-interest sectors."

Meanwhile, as of the end of June, Woori Comprehensive Financial's delinquency rate stood at 0.13%, and the ratio of non-performing loans classified as fixed or below was 0.52%, indicating sound asset quality. In particular, Woori Comprehensive Financial explained that it is making thorough efforts in pre- and post-management of relatively high-risk assets such as PF loans in response to the prolonged COVID-19 pandemic.

A representative from Woori Comprehensive Financial added, "Despite concerns about the business environment, we achieved better results in the second quarter than in the first quarter. We will continue to sustain growth by solidifying our main revenue bases in loans and deposits and the IB sector, while actively expanding new businesses such as bond management and brokerage."

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