Income Statement Woori Financial Group Inc.

Equities

A316140

KR7316140003

Banks

End-of-day quote Korea S.E. Other stock markets 11/12/2024			5-day change	1st Jan Change
15,630.00 ^KRW	+1.23%		-6.52%	+20.23%

12-02	Woori Financial Group's Woori Bank Nominates VP for President Role	MT
11-14	Woori Financial Group Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024	CI

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Published financial data: WOORI FINANCIAL GROUP INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest Income On Loans	10,051B	9,038B	9,467B	13,915B	19,450B
Interest Income On Investments	633B	625B	737B	899B	1,432B
Interest Income, Total	10,685B	9,662B	10,204B	14,815B	20,882B
Interest On Deposits	4,683B	3,525B	2,909B	5,958B	11,899B
Interest Expense, Total	4,683B	3,525B	2,909B	5,958B	11,899B
Net Interest Income	6,002B	6,137B	7,295B	8,857B	8,983B
Gain (Loss) on Sale of Loans	102B	44.44B	107B	74.2B	204B
Gain (Loss) on Sale of Assets	-1.8B	7B	47.73B	52.68B	3.39B
Gain (Loss) on Sale of Invest. & Securities - (Rev)	-22.22B	26.94B	103B	-24.59B	-5.11B
Total Other Non Interest Income	1,164B	1,437B	1,796B	1,949B	2,209B
Non Interest Income, Total	1,242B	1,516B	2,055B	2,051B	2,411B
Revenues Before Provison For Loan Losses	7,244B	7,653B	9,350B	10,908B	11,394B
Provision For Loan Losses	374B	784B	537B	885B	1,895B
Total Revenues	6,869B	6,869B	8,813B	10,022B	9,499B
Salaries And Other Employee Benefits	6.33B	7.5B	17.77B	9.63B	12.95B
Selling General & Admin Expenses, Total	3,623B	3,819B	3,995B	4,362B	4,240B
(Income) Loss on Equity Invest.	-84B	-101B	-62.2B	-70B	-110B
Total Other Non Interest Expense	440B	950B	1,022B	1,170B	1,711B
Non Operating (Income) Expenses	131B	250B	14.68B	29.5B	74.59B
Non Interest Expense, Total	4,116B	4,925B	4,987B	5,502B	5,929B
EBT, Excl. Unusual Items	2,754B	1,943B	3,826B	4,521B	3,570B
Total Merger & Related Restructuring Charges	-2.63B	-1.07B	-	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	-
Asset Writedown	-28.19B	-8.59B	-490M	50M	101M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	67.43B	-75.92B	-35.28B	-52.85B
EBT, Incl. Unusual Items	2,723B	2,001B	3,749B	4,485B	3,517B
Income Tax Expense	685B	486B	942B	1,161B	891B
Earnings From Continuing Operations	2,038B	1,515B	2,807B	3,324B	2,627B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	2,038B	1,515B	2,807B	3,324B	2,627B
Minority Interest	-165B	-208B	-219B	-182B	-121B
Net Income - (IS)	1,872B	1,307B	2,588B	3,142B	2,506B
Preferred Dividend and Other Adjustments	4.36B	48.92B	66.25B	91.76B	131B
Net Income to Common Incl Extra Items	1,868B	1,258B	2,522B	3,050B	2,375B
Net Income to Common Excl. Extra Items	1,868B	1,258B	2,522B	3,050B	2,375B
Per Share Items
Net EPS - Basic	2.72K	1.74K	3.48K	4.19K	3.23K
Basic EPS - Continuing Operations	2.72K	1.74K	3.48K	4.19K	3.23K
Basic Weighted Average Shares Outstanding	685M	722M	724M	728M	735M
Net EPS - Diluted	2.72K	1.74K	3.48K	4.19K	3.23K
Diluted EPS - Continuing Operations	2.72K	1.74K	3.48K	4.19K	3.23K
Diluted Weighted Average Shares Outstanding	685M	722M	724M	728M	735M
Normalized Basic EPS	2.27K	1.39K	3K	3.63K	2.87K
Normalized Diluted EPS	2.27K	1.39K	3K	3.63K	2.87K
Dividend Per Share	700	360	900	1.13K	1K
Payout Ratio	31.98	42.42	16.79	23.77	44.27
American Depositary Receipts Ratio (ADR)	3	3	3	3	3
Supplemental Items
Effective Tax Rate - (Ratio)	25.17	24.28	25.12	25.89	25.32
Total Current Taxes	547B	506B	887B	1,327B	672B
Total Deferred Taxes	138B	-20.14B	54.95B	-165B	219B
Normalized Net Income	1,556B	1,007B	2,172B	2,643B	2,111B
Non-Cash Pension Expense	1.76B	119M	-1.11B	-1.68B	-18.87B
Supplemental Operating Expense Items
Stock-Based Comp., G&A Exp. (Total)	6.33B	7.5B	17.77B	9.63B	12.95B
Total Stock-Based Compensation	6.33B	7.5B	17.77B	9.63B	12.95B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	6,393B	9,991B	7,566B	11,254B	16,179B
Investment Securities, Total	46,332B	48,162B	54,955B	49,370B	46,301B
Trading Asset Securities, Total	7,779B	14,159B	12,609B	18,772B	20,265B
Total investments	54,111B	62,321B	67,564B	68,142B	66,566B
Gross Loans	263,632B	294,564B	328,361B	339,414B	358,207B
Allowance For Loan Losses	-1,575B	-1,909B	-1,887B	-2,334B	-2,975B
Other Adjustments to Gross Loans	-6.83B	-6.66B	-7.3B	-10.24B	-11.36B
Net Loans	262,050B	292,648B	326,467B	337,070B	355,221B
Gross Property Plant And Equipment	5,053B	6,688B	7,412B	8,453B	9,537B
Accumulated Depreciation	-1,689B	-2,285B	-2,459B	-2,719B	-3,075B
Net Property Plant And Equipment	3,365B	4,403B	4,953B	5,733B	6,463B
Goodwill	351B	334B	345B	398B	445B
Other Intangibles, Total	268B	249B	232B	239B	310B
Investment in Real Estate	280B	387B	389B	388B	473B
Accrued Interest Receivable	1,012B	864B	1,050B	1,667B	1,972B
Other Receivables	9,743B	7,356B	12,643B	8,344B	11,151B
Restricted Cash	11,029B	6,519B	10,219B	23,125B	14,378B
Other Current Assets, Total	1,584B	1,975B	2,143B	2,329B	2,560B
Deferred Tax Assets Long-Term (Collected)	39.54B	46.09B	31.13B	109B	93.37B
Other Real Estate Owned And Foreclosed	-	-	-	-	-
Deferred Charges Long-Term	225B	209B	208B	213B	242B
Other Long-Term Assets, Total	11,531B	11,778B	13,374B	21,464B	21,952B
Total Assets	361,981B	399,081B	447,184B	480,474B	498,005B
Liabilities
Accounts Payable, Total	-	-	6,954B	5,981B	10,167B
Accrued Expenses, Total	-	-	2,071B	3,219B	4,339B
Interest Bearing Deposits	264,686B	291,477B	317,900B	342,105B	357,784B
Total Deposits	264,686B	291,477B	317,900B	342,105B	357,784B
Short-Term Borrowings	2,938B	6,829B	8,271B	13,003B	12,582B
Current Portion of Leases	161B	174B	151B	170B	208B
Long-Term Debt	49,857B	58,225B	69,082B	72,221B	71,104B
Long-Term Leases	258B	234B	193B	149B	126B
Current Income Taxes Payable	183B	371B	584B	844B	104B
Other Current Liabilities - (Bank / Utility Template)	27.53B	49.28B	847B	858B	927B
Unearned Revenue Non Current	225B	255B	724B	565B	662B
Pension & Other Post Retirement Benefits	92.47B	52.24B	47.99B	35.2B	6.94B
Deferred Tax Liability Non-Current	134B	160B	187B	31.8B	470B
Other Non Current Liabilities	17,927B	14,529B	11,322B	9,665B	6,126B
Total Liabilities	336,488B	372,355B	418,334B	448,847B	464,607B
Common Stock, Total	3,611B	3,611B	3,640B	3,640B	3,803B
Additional Paid In Capital	626B	626B	682B	682B	936B
Retained Earnings	18,525B	19,268B	21,393B	23,750B	24,986B
Treasury Stock	-	-	-	-3.82B	-39.35B
Comprehensive Income and Other	-1,252B	-452B	127B	693B	1,982B
Total Common Equity	21,510B	23,054B	25,842B	28,762B	31,667B
Minority Interest	3,982B	3,672B	3,008B	2,865B	1,731B
Total Equity	25,492B	26,726B	28,850B	31,627B	33,397B
Total Liabilities And Equity	361,981B	399,081B	447,184B	480,474B	498,005B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	722M	722M	728M	728M	752M
ECS Total Common Shares Outstanding	722M	722M	728M	728M	752M
Book Value / Share	28.4K	29.29K	32.34K	35.23K	37.31K
Tangible Book Value	20,891B	22,470B	25,264B	28,125B	30,912B
Tangible Book Value Per Share	27.54K	28.49K	31.55K	34.36K	36.31K
Total Debt	53,214B	65,462B	77,696B	85,543B	84,020B
Deposits at Interest - Cash	125B	551B	159B	90.01B	128B
Debt Equivalent of Unfunded Proj. Benefit Obligation	89.89B	46.58B	26.64B	-284B	-233B
Net Debt	30,060B	31,166B	47,188B	48,668B	44,220B
Equity Method Investments, Total	806B	993B	1,335B	1,306B	1,795B
Full Time Employees	24.41K	-	-	-	-
Number Of Offices	-	-	-	-	-
Assets on Operating Lease - Gross	-	1,507B	2,300B	3,320B	4,200B
Assets on Operating Lease - Accumulated Depreciation	-	-391B	-522B	-730B	-914B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1,872B	1,307B	2,588B	3,142B	2,506B
Depreciation, Depletion & Amortization	377B	399B	643B	766B	832B
Amortization of Goodwill and Intangible Assets - (CF)	54.61B	65.04B	69.18B	75.54B	84.76B
Total Depreciation, Depletion & Amortization	432B	464B	712B	842B	917B
Amortization of Deferred Charges, Total	73.8B	71.62B	80.13B	87.29B	76.19B
(Gain) Loss On Sale of Asset - (CF)	1.8B	-7B	-47.73B	9.52B	-3.39B
(Gain) Loss on Sale of Investments - (CF)	-378B	-9.61B	-221B	691B	-692B
Total Asset Writedown	28.19B	8.59B	490M	-50M	-101M
Provision for Credit Losses	374B	784B	537B	885B	1,895B
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Change in Trading Asset Securities	-507B	-875B	42.5B	-1,648B	-1,716B
Change in Other Net Operating Assets (Collected)	-16,225B	-25,955B	-29,602B	-9,890B	-17,577B
Other Operating Activities	791B	439B	279B	968B	1,039B
Net Cash From Discontinued Operations	-	-	-	-	-
Cash from Operations	-13,537B	-23,772B	-25,631B	-4,912B	-13,555B
Capital Expenditure	-430B	-149B	-119B	-173B	-165B
Sale of Property, Plant, and Equipment	13.34B	22.83B	96.65B	97.26B	26.16B
Cash Acquisitions	-297B	-313B	-1.64B	-725B	-829B
Divestitures	-	-	-	-	-464M
Purchase / Sale of Intangible Assets	-125B	-114B	-138B	-174B	-226B
Sale (Purchase) of Real Estate Properties (Collected)	-70.15B	-76.24B	-	2.06B	-99.23B
Investment in Marketable and Equity Securities, Total	-7,680B	-853B	-10,571B	-6,059B	-969B
Other Investing Activities, Total	-	26.64B	66.3B	62.39B	8.72B
Cash from Investing	-8,588B	-1,456B	-10,667B	-6,969B	-2,254B
Long-Term Debt Issued, Total	39,978B	25,117B	35,875B	26,284B	33,434B
Total Debt Issued	39,978B	25,117B	35,875B	26,284B	33,434B
Long-Term Debt Repaid, Total	-35,255B	-22,374B	-25,959B	-24,075B	-34,490B
Total Debt Repaid	-35,255B	-22,374B	-25,959B	-24,075B	-34,490B
Issuance of Common Stock	1,758B	898B	399B	818B	522B
Repurchase of Common Stock	-344B	-599B	-591B	-643B	-1,258B
Common Dividends Paid	-599B	-555B	-435B	-747B	-1,110B
Common & Preferred Stock Dividends Paid	-599B	-555B	-435B	-747B	-1,110B
Net Increase (Decrease) in Deposit Accounts - (CF)	15,407B	27,378B	23,830B	23,536B	15,176B
Other Financing Activities, Total	634B	-120B	-213B	282B	41.66B
Cash from Financing	21,578B	29,745B	32,906B	25,456B	12,316B
Foreign Exchange Rate Adjustments	191B	-918B	967B	30.86B	-170B
Net Change in Cash	-355B	3,598B	-2,425B	13,606B	-3,663B
Supplemental Items
Cash Interest Paid	4,384B	4,008B	3,017B	4,966B	10,627B
Cash Income Tax Paid (Refund)	552B	315B	566B	1,030B	1,540B
Net Debt Issued / Repaid	4,723B	2,743B	9,916B	2,209B	-1,056B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.58	0.4	0.66	0.72	0.54
Return On Equity %	8.59	5.8	10.1	10.99	8.08
Return on Common Equity	8.64	5.65	10.31	11.17	7.86
Shareholders Value Added	-667B	-1,301B	-277B	-59.01B	-1,035B
Margin Analysis
SG&A Margin	52.4	55.29	45.16	43.24	44.36
Net Interest Income / Total Revenues %	87.37	89.35	82.78	88.37	94.56
EBT Excl. Non-Recurring Items Margin %	40.09	28.3	43.41	45.11	37.58
Income From Continuing Operations Margin %	29.66	22.06	31.86	33.17	27.65
Net Income Margin %	27.25	19.03	29.37	31.35	26.38
Net Avail. For Common Margin %	27.19	18.32	28.61	30.43	25
Normalized Net Income Margin	22.65	14.66	24.64	26.37	22.22
Asset quality
Nonperforming Loans / Total Loans %	0.57	0.49	0.35	0.4	0.49
Nonperforming Loans / Total Assets %	0.42	0.36	0.26	0.28	0.35
Nonperforming Assets / Total Assets %	0.42	0.36	0.26	0.28	0.35
NPAs / Loans and OREO	0.57	0.49	0.35	0.4	0.49
NPAs / Equity	5.9	5.37	4.01	4.33	5.25
Allowance for Credit Losses / Net Charge-offs %	295.67	408.02	436.65	680.38	389.78
Allowance for Credit Losses / Nonperforming Loans %	104.71	132.99	162.96	170.44	169.78
Allowance for Credit Losses / Total Loans %	0.6	0.65	0.57	0.69	0.83
Provision for Loan Losses / Net Charge-offs %	70.25	167.69	124.24	258.05	248.26
Capital And Funding
Total Average Common Equity / Total Average Assets %	6.16	5.86	5.78	5.89	6.18
Total Average Equity / Total Average Assets %	6.75	6.86	6.57	6.52	6.65
Total Equity + Allowance for Loan Losses / Total Loans %	8.76	8.47	8.44	9.16	9.67
Gross Loans / Total Deposits %	99.6	101.06	103.29	99.21	100.12
Net Loans / Total Deposits %	99	100.4	102.69	98.53	99.28
Tier 1 Capital Ratio %	9.86	11.78	13.29	13.62	14.08
Total Capital Ratio %	11.89	13.84	15.05	15.3	15.81
Core Tier 1 Capital Ratio	8.39	10	11.43	11.57	11.99
Tier 2 Capital Ratio	2.03	2.06	1.76	1.67	1.74
Coverage Ratio	104.71	132.99	162.96	170.44	169.78
Interbank Ratio	80.95	84.82	81.79	41.32	94.34
Fixed Charges Coverage
EBT + Interest Expense / Interest Expense	1.58	1.57	2.29	1.75	1.3
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	4.53	2.26	18.87	21.41	1.43
Non Interest Income, 1 Yr. Growth %	-13.91	22.31	35.65	-0.19	17.56
Provision For Loan Losses, 1 Yr. Growth %	13.55	109.59	-31.56	64.9	114.05
Total Revenues, 1 Yr. Growth %	0.22	0.02	28.33	13.72	-5.22
Earnings From Cont. Operations, 1 Yr. Growth %	-0.68	-25.64	85.27	18.4	-20.97
Net Income, 1 Yr. Growth %	-7.92