Woori Bank

Woori Bank is a trend-setter in e-banking and its growing market dominance translates into a big increase in fee income and a visible reduction in operating costs. Last year the e-banking customer base grew more than 28% to 3.25m users. Online banking transactions soared 42% to nearly 500m, generating 30% more in fee income than in the previous year. In addition, Woori launched bancassurance operations in all of its branches and banking service outlets. “Last year was one of the most challenging periods in the Korean banking sector,” says CEO Young-Key Hwang. “It was also a remarkable time for Woori Bank. We recorded an industry-leading net profit performance, increased assets and improved financial health, all this and more in a very difficult year. We also successfully carried out a number of productivity- enhancing projects that will greatly affect our profit performance for years to come. “Woori Bank’s final goal is to become a leading global bank. To reach this goal, we will maintain our focus on the basics of banking in the coming years. In particular, we will continue consolidating our core business operations, diversifying non-interest income sources, upgrading risk management, and developing better human resources.”

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