Woori Investment Bank surpasses 2019 annual operating profit in three quarters
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Woori Investment Bank surpasses 2019 annual operating profit in three quarters
  • Kevin Lee
  • 승인 2020.10.27 13:23
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Kim Jong-deuk, CEO of Woori Investrment Bank
Kim Jong-deuk, CEO of Woori Investrment Bank

 

Woori Investment Bank recorded a cumulative operating profit of 56.3 billion won and a net profit of 50.1 billion won in the third quarter of this year, the bank said on Oct. 26.
It surpassed its annual operating profit of 53.9 billion won in just three quarters.

"In keeping with the rapidly changing environment, we have increased assets mainly on short-term high-yield loans, and as a result of strategically increasing high-yield assets such as Project Financing (PF), net interest income increased 49.5% year-on-year," said an official at Woori Investment Bank.

"Non-interest income also went up by 20.6% year-on-year due to the income from IB business fees and good growth in securities management performance," the official explained.

He also said, "We are planning a paid-in capital increase of 100 billion won for continuous growth, and we are moving to expand our business such as IB sales and bond management as some of the constraints such as financial ratios and operating limits will be lifted once the capital increase is completed."

In addition, Woori Investment Bank is focusing on enhancing risk management and digital financing capabilities as well as strengthening non-interest profits in response to the Next Normal era after COVID-19.


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