RETAIL BANKING | Cesar Tordesillas, Korea

Woori Finance net profit up 8.3% in Q3

Increased interest income and lower credit costs push Woori Finance's third-quarter earnings up 8.3 percent from a year earlier.


Net profit came to 520 billion won or US$467 million in the July-September period, compared with 480.2 billion won during the same period a year earlier, the group said in a regulatory filing.

In the first 9 months of the year, the financial group's net income jumped 47.1 percent on-year to 1.8 trillion won.

Revenue jumped 22.5 percent on-year to 10.9 trillion won, while operating profit slumped 10.7 percent to 692.5 billion won.

The third-quarter bottom line was better than the market consensus of 484 billion won in a poll of 18 analysts by Yonhap Infomax, the financial news arm of Yonhap News Agency.

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