Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Man convicted after binge eating to avoid military service
-
4
First snow to fall in Seoul on Wednesday
-
5
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
6
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
7
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
8
Industry experts predicts tough choices as NewJeans' ultimatum nears
-
9
Job creation lowest on record among under-30s
-
10
Opposition chief acquitted of instigating perjury
Woori Bank, a major South Korean commercial lender, said Monday its net profit for 2018 soared 33.34 percent from a year earlier on the back of growth in interest income.
Net profit came to 2.04 trillion won ($1.81 billion) in 2018 on a consolidated basis, up from 1.51 trillion won a year earlier, the lender said in a regulatory filing.
Its operating profit jumped 27.22 percent on-year to 2.74 trillion won, a record high, the bank said, while noting that its yearly sales fell 16.05 percent to 19.92 trillion won.
Its net interest margin, a measurement of profitability, stood at 1.99 percent as of the end of last year, up 0.03 percentage point on-year, the bank said.
The performance was mainly attributable to the surge in its interest income, which went up 8.2 percent on-year to 5.65 trillion won. In particular, the increase in loans for small business entities advanced 6.5 percent, according to the lender.
From its global business sector, the bank also saw a 19.7 percent surge in net profit to 200 billion won. (Yonhap)
