Woori Financial Group on Friday said its third-quarter net income edged down 0.2 percent from a year earlier despite a drop in interest rates thanks to diversification of its profit structure.Net profit for the July-September period came to 916.2 billion won (US$659.6 million), compared with 918.1 billion won a year earlier, the company said in a regulatory filing.Its operating profit fell 3.5 percent on-year to 1.17 trillion won, and sales decreased 24.8 percent to 7.44 trillion won.The earnings beat market expectations. The average estimate of net profit by analysts stood at 874.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.The combined net profit for the January-September period reached 2.66 trillion won, up 9.1 percent from a year earlier.The combined operating profit for the period also advanced 6.6 percent on-year to 7.99 trillion won.Woori Financial attributed the stronger-than-expected performance to an increase in commission income in both the banking and nonbanking sectors thanks to the company's efforts to diversify its profit structure.For the January-September period, the financial firm's interest income added 0.2 percent on-year to 6.6 trillion won even amid a fall in the country's key interest rate as its loan portfolio increased.The company's noninterest income jumped 53.1 percent to 1.28 trillion won over the same period."The company will work to meet the higher market expectation by continuing to report stable performance and actively responding to global uncertainties sparked by geopolitical risks and the U.S. presidential election," an official at Woori Financial said.Source: Yonhap News Agency
- October 12, 2026
