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Finance

Korean financial groups post third-quarter results as stock market outlook hits zero visibility

Korean financial holding firms and banks continued to release third-quarter results, with Woori Bank posting its biggest quarterly net profit on record and Hana Financial Group lifting year-to-date profit on higher fee income. Brokerages faced weakening profitability as trading value fell and market rates rose, adding valuation loss pressure in trading. The Bank of Korea held its policy rate at 3.00 percent, while competition in retirement pensions and expanded support for small firms continued.

Finance

Woori Investment Securities Jan-Sept net profit up 27.3 percent to 28 billion won

Woori Investment Securities\' net profit for January to September rose 27.3 percent from a year earlier to 28 billion won, while year-to-date net operating revenue increased 46.0 percent to 203 billion won, Woori Financial Group said. Third-quarter net profit fell 72.7 percent from the previous quarter to 3 billion won as non-interest income dropped. Costs rose year-to-date, with loan loss expenses up 105.3 percent.

Finance

Woori Financial nine-month net profit falls 4.93 percent to 2.66 trillion won

Woori Financial Group said nine-month net profit fell 4.93 percent from a year earlier to 2.66 trillion won, reflecting a base effect from one-off gains tied to an insurer acquisition last year. Third-quarter net profit rose 4.4 percent from the previous quarter to 1.05 trillion won, marking a second straight quarter above 1 trillion won. Nine-month net operating revenue rose 6.2 percent to a record 8.68 trillion won.