Arab Today, arab today woori finance q3 net tumbles 836
Last Updated : GMT 19:44:23
Arab Today, arab today
Arab Today, arab today

Woori Finance Q3 net tumbles 83.6%

Arab Today, arab today

Arab Today, arab today Woori Finance Q3 net tumbles 83.6%

Seoul - Yonhap

Woori Finance Holdings Co., South Korea's top banking group, said Friday that its third-quarter earnings tumbled 83.6 percent from a year earlier on squeezed profit margin and an increase in loan-loss reserves. Net profit amounted to 86.4 billion won (US$81.5 million) in the July-September period, compared with 525.5 billion won the previous year, the group said in a regulatory filing. From three months earlier, net income declined 41.7 percent. The group said that it allocated loan-loss reserves related to corporate overhaul, including ailing STX Group and the economic slowdown. Its loan-loss reserve amounted to 812 billion won last quarter, larger than 570.8 billion won three months ago. Woori Finance's performance is compared with earnings results logged by its rivals, including KB Financial Group Co. Korean banks have been suffering from weak earnings as a long streak of low rates undercut their net interest margin, and as the economic slowdown and corporate overhaul raised loan-loss reserves. But analysts said from the third quarter, their earnings may show signs of improvement as loan-loss reserves could stabilize. Woori Finance said that its net interest margin (NIM), a key gauge of profitability, reached 2.12 percent in the third quarter, down from 2.16 percent in the preceding quarter. Woori Bank, the flagship unit of the group, logged a net profit of 41.2 billion won in the third quarter, down 91.4 percent from a year earlier. The group's total assets amounted to 429 trillion won as of end-September, down 0.2 percent from three months earlier. The government is seeking to sell the state-invested Woori Finance in three different batches -- regional banks, banking and brokerage units -- by the end of 2014. Shares of Woori Finance closed at 12,350 won on the main bourse, down 1.98 percent from Thursday's close. The earnings results came out after the market closed.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today woori finance q3 net tumbles 836 Arab Today, arab today woori finance q3 net tumbles 836

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 10:49 2017 Wednesday ,22 February

Airbus says profits hit by military plane woes

GMT 06:43 2017 Wednesday ,22 February

LuLu festival offers a taste of Egypt

GMT 06:11 2017 Wednesday ,22 February

Russia’s Rosneft, Libya’s NOC sign oil offtake deal

GMT 05:49 2017 Wednesday ,22 February

‘PSA to honor Opel job guarantees’

GMT 05:41 2017 Wednesday ,22 February

BHP to Trump: Protectionism will hurt growth

GMT 20:42 2017 Tuesday ,21 February

Amazon plans 5,000 new jobs in UK
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday