Search results for credit loss costs
Finance
Woori Bank shakes off first-half slump, posts record third-quarter net profit
Woori Bank rebounded from weak first-half results, posting a record quarterly net profit of 1.03 trillion won in the third quarter, up 22 percent from the previous quarter. Nine-month net profit rose 4.7 percent from a year earlier to 2.40 trillion won. Higher interest income from expanded corporate lending, stronger non-interest income and lower loan-loss provisions supported results. Its net interest margin fell and delinquency indicators worsened.
Finance
Four major financial groups\' net profit tops 11 trillion won, competition shifts from banks to capital markets
South Korea’s four major financial holding groups posted combined first-half net profit of 11.34 trillion won, up 9.8 percent from a year earlier, helped by steady interest income and rising fee income from capital-market businesses such as securities, wealth management and investment banking. As non-bank earnings contributions expanded, the competitive focus among groups increasingly shifted to capital markets. In banking, Shinhan Bank led in net profit, while Woori Bank was the only one to decline.
Finance
Woori Investment Securities Q2 net profit 11 billion won, down 21 percent from Q1
Woori Investment Securities posted a second-quarter net profit of 11 billion won, down 21.4 percent from the previous quarter, as expanded credit loss costs outweighed gains in interest and non-interest income. Net operating revenue rose 8.6 percent to 76 billion won, while credit loss costs jumped 88.9 percent to 17 billion won. First-half net profit climbed 47.1 percent year on year to 25 billion won, and retail customers increased to 781,000.
