Woori Jonghap Financial Reports Operating Profit of 57.3 Billion KRW in H1, Up 63% YoY

[Asia Economy Reporter Jin-ho Kim] Woori Comprehensive Financial Group announced on the 21st that it recorded an operating profit of 57.3 billion KRW and a net profit of 44.0 billion KRW in the first half of this year. These results represent increases of 62.9% and 40.1%, respectively, compared to the same period last year, achieving the highest cumulative performance in the first half following the first quarter.

A representative from Woori Comprehensive Financial Group explained, "With continuous expansion, total assets increased by 600 billion KRW compared to last year, reaching 4.9 trillion KRW. In the IB division, we achieved remarkable results by leading a large deal worth 1.6 trillion KRW in April, generating fee income of 28.9 billion KRW."

They added, "The return on assets (ROA) and return on equity (ROE) stood at 1.8% and 16.2%, respectively, demonstrating excellent profitability, and the ratio of non-performing loans was maintained at a healthy 0.67%."

Woori Comprehensive Financial Group recently strengthened its IB competitiveness by recruiting a former securities firm IB head as executive vice president and hiring 35 professionals in the first half alone.

A representative from Woori Comprehensive Financial Group stated, "We will continue to overcome the spread of COVID-19 in the second half and strive to achieve good results so that we can grow together with our shareholders next year as well."

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