Woori Bank posts 46.4% gain in first-half net profitWoori Bank, a major Korean commercial bank, said Thursday that its net profit in the first six months of this year jumped 46.4 percent from a year earlier, thanks to a solid gain in both interest and non-interest income.
Net profit jumped to 1.09 trillion won ($971 million) in the January-June period on a consolidated basis, the bank said in a statement.
It marked the biggest six-month profit since 2011, the company said.
For the second quarter this year, Woori Bank’s net profit soared 50.1 percent year on year to 460.8 billion won ($409 million). The bank attributed the rise to decreased loan-loss provisions and a rise in interest income. Woori Bank’s interest income came to 2.5 trillion won for the first half, up 62.3 billion won from a year earlier, it said. The bank’s net interest margin, a key barometer of profitability, stood at 1.45 percent in the second quarter, up 0.03 percentage point from the previous quarter. YONHAP
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)