Woori Bank
Overview
Woori Bank is one of the four major commercial banks in South Korea (KB Kookmin, Shinhan, Hana, and Woori), originating from Daehan Cheonil Bank (대한천일은행) founded in 1899. It changed its name from Hanbit Bank to Woori Bank in 2001, underwent a sale process in 2014 to recover government public funds, and is now a privatized bank. It provides comprehensive financial services including retail banking, corporate banking, foreign exchange, and asset management, with over 800 domestic and international branches.
Main Content
History
- 1899: Establishment of Daehan Cheonil Bank (first bank with national capital)
- 1950: Reorganized into Korea Heungup Bank
- 1999: Merger of Commercial Bank and Hanil Bank → Launch of Hanbit Bank
- 2001: Name change from Hanbit Bank to Woori Bank
- 2014: Sale of government-held shares (privatization completed)
- 2019: Transition to Woori Financial Group holding company structure
Main Business
- Retail Banking: Deposits, loans, bancassurance, trusts, foreign exchange, etc.
- Corporate Banking: Corporate loans, trade finance, project financing
- Asset Management: Wealth Management (WM), private banking
- Digital: Woori WON Banking, mobile platform
Financial Status (as of 2024)
- Total assets: Approximately 400 trillion KRW
- Net profit: Approximately 3 trillion KRW
- BIS ratio: Over 15% (Bank for International Settlements standard)
- NPL ratio: Around 0.3% (non-performing loan ratio)
Global Network
- Overseas branches: Over 20 countries including Vietnam, China, Indonesia, the United States, and the United Kingdom
- Local subsidiaries: Woori Bank Vietnam, Woori Bank China, etc.
- Global IB: Overseas investment banking operations
Social Contributions
- Woori Multicultural Scholarship Foundation: Support for multicultural families
- Woori Financial Future Foundation: Youth entrepreneurship and financial education
- ESG Management: Carbon neutrality, expansion of green finance
Latest Trends
In 2024–2025, Woori Bank is focusing on digital transformation and expanding non-interest income. In July 2024, it fully revamped 'Woori WON Banking' and introduced AI-based personalized services. Additionally, in early 2025, it strengthened its push into the Southeast Asian market through its Vietnamese local subsidiary and focused on managing real estate PF (project financing) risks in the corporate banking sector. In preparation for an interest rate cut cycle, it is actively seeking fee-based revenue sources to offset narrowing loan-deposit margins. As of March 2025, Woori Bank's market capitalization is approximately 15 trillion KRW, ranking third among the four major commercial banks.
Related Topics
- [[KB Kookmin Bank]]
- [[Shinhan Bank]]
- [[Hana Bank]]
- [[Woori Financial Group]]
- [[Commercial bank]]
---
AI auto-generated document · Improved by the community