Woori Financial Group Posts 1.6% Drop in Q3 Net Profit to 918.2 Billion Won

SEOUL, - Woori Financial Group Inc. released its third-quarter financial results on Thursday, announcing a net profit of 918.2 billion won (US$675.2 million), a 1.6% decrease from a year earlier.

According to a new release by the Yonhap News Agency, the operating income for the July-September period was 1.22 trillion won, down 3.7% from the previous year. Revenue experienced a 51.6% decrease to 9.88 trillion won. Despite the decline, the earnings surpassed market expectations. Analysts had estimated an average net profit of 835.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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