Woori Financial Group Inc. (WF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. I am Han Ong Sung, head of IR at Woorie Financial Group. Let me first begin by thanking everyone for taking time to participate in this earnings conference call for Woorie Financial Group. On today's call, we have the group CFO, Lee Seong Wook, group CDO, Ok Il Jin, and group CRO, Park Jang Geun, as participants. On today's call, the group CFO, Lee Seong Wook, will give a presentation on the earnings performance after which we will have a Q&A session. Please note that the earnings call is being conducted with simultaneous interpretation for our overseas investors. Now, let us start our presentation on Uri Financial Group's earnings for the first half of 2025. Good afternoon. This is Lee Sung Wook, the CFO of Uri Financial Group. Let me go over the first half performance for 2025. Please turn to page three of the presentation material that has been disclosed on our website. First, let me discuss net income. For the first half of 2025, RE financial groups net income was $1,551.3 billion, representing a wire wide decrease of 11.6%. When excluding the one-off expenses related to the early retirement program conducted at the beginning of the year and preemptive provisions for completion guarantee of trust company, net income is similar to last year. In the first half, conservative loan loss management to address the slowdown in the economy and SG&A to expand the non-bank portfolio of the group did increase costs, but the net operating revenue, which shows the profit generation capability of the group, still maintains steady growth amid a challenging business environment. Bottom line growth based on asset rebalancing and better margins driven by funding optimization amid a falling market rate resulted in stable interest income, while core fee income from th...