Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
4
OpenAI in talks with Samsung to power AI features, report says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
7
South Korean military plans to launch new division for future warfare
-
8
Kia EV9 GT marks world debut at LA Motor Show
-
9
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
10
S. Korea not to attend Sado mine memorial: foreign ministry
Woori Bank's Q1 net up 44% on decreased provisions
By Korea HeraldPublished : April 19, 2017 - 15:00
Woori Bank, a major South Korean commercial lender, said Wednesday its first-quarter net profit shot up 43.8 percent from a year earlier due mainly to decreased loan-loss provisions.
Net profit jumped to 637.5 billion won ($559 million) in the January-March period on a consolidated basis, compared with 443.3 billion won a year earlier, the lender said in a statement.
The bank attributed the rise in net profit to decreased loan-loss provisions, increased noninterest income, and a cut in costs through reductions of employees and branches.
It said its interest income came to 1.26 trillion won in the first quarter, up 1.5 percent from a year earlier. Meanwhile, the bank's noninterest income rose to 449.6 billion won from 265.2 billion won during the same period.
Shares in Woori Bank were trading at 14,150 won on the Seoul bourse as of 2:25 p.m. (Yonhap)
-
Articles by Korea Herald
