Woori Financial Group Inc. (WF)

Woori Bank Income Statement

Financials in millions KRW. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	20,371,818	19,450,053	13,915,236	9,467,132	9,037,714	10,051,400
Interest Income on Investments	1,760,345	1,431,794	899,295	736,828	624,682	633,329
Total Interest Income	22,132,163	20,881,847	14,814,531	10,203,960	9,662,396	10,684,729
Interest Paid on Deposits	13,083,950	11,899,014	5,957,970	2,909,028	3,525,341	4,683,064
Net Interest Income	9,048,213	8,982,833	8,856,561	7,294,932	6,137,055	6,001,665
Net Interest Income Growth (YoY)	-0.99%	1.43%	21.41%	18.87%	2.26%	4.53%
Gain (Loss) on Sale of Assets	3,515	3,394	52,675	47,729	6,998	-1,801
Gain (Loss) on Sale of Investments	63,434	-5,106	-24,589	103,386	26,943	-22,222
Other Non-Interest Income	2,595,796	2,208,967	1,948,672	1,796,424	1,436,413	1,161,320
Total Non-Interest Income	2,961,062	2,411,197	2,050,962	2,054,856	1,514,797	1,239,412
Non-Interest Income Growth (YoY)	37.72%	17.56%	-0.19%	35.65%	22.22%	-14.09%
Revenues Before Loan Losses	12,009,275	11,394,030	10,907,523	9,349,788	7,651,852	7,241,077
Provision for Loan Losses	2,070,106	1,894,916	885,272	536,838	784,371	374,244
Revenue	9,939,169	9,499,114	10,022,251	8,812,950	6,867,481	6,866,833
Revenue Growth (YoY)	-0.08%	-5.22%	13.72%	28.33%	0.01%	0.18%
Salaries and Employee Benefits	27,362	12,946	9,632	17,774	7,495	6,328
Selling, General & Administrative	4,318,288	4,240,153	4,362,353	3,994,622	3,818,782	3,622,612
Other Non-Interest Expense	1,858,149	1,711,057	1,170,158	1,022,416	950,342	439,718
Total Non-Interest Expense	6,204,787	5,928,912	5,501,651	4,987,298	4,700,639	4,115,592
EBT Excluding Unusual Items	3,734,382	3,570,202	4,520,600	3,825,652	2,166,842	2,751,241
Asset Writedown	-1,395	101	50	-490	-8,591	-28,192
Other Unusual Items	-19,277	-52,850	-35,276	-75,921	-157,000	-
Pretax Income	3,713,710	3,517,453	4,485,374	3,749,241	2,001,251	2,723,049
Income Tax Expense	901,346	890,559	1,161,392	941,870	486,002	685,453
Earnings From Continuing Operations	2,812,364	2,626,894	3,323,982	2,807,371	1,515,249	2,037,596
Minority Interest in Earnings	-84,383	-120,598	-182,302	-219,435	-207,983	-165,389
Net Income	2,727,981	2,506,296	3,141,680	2,587,936	1,307,266	1,872,207
Preferred Dividends & Other Adjustments	154,282	131,148	91,756	66,250	48,915	4,362
Net Income to Common	2,573,699	2,375,148	3,049,924	2,521,686	1,258,351	1,867,845
Net Income Growth	-6.52%	-20.22%	21.40%	97.97%	-30.18%	-7.92%
Basic Shares Outstanding	744	735	728	724	722	685
Diluted Shares Outstanding	744	735	728	724	722	685
Shares Change (YoY)	1.82%	1.05%	0.46%	0.30%	5.37%	1.81%
EPS (Basic)	3461.54	3229.77	4191.09	3480.98	1742.22	2724.84
EPS (Diluted)	3461.54	3229.77	4191.09	3480.98	1742.22	2724.84
EPS Growth	-9.54%	-22.94%	20.40%	99.80%	-36.06%	-2.52%
Dividend Per Share	1180.000	1000.000	1130.000	900.000	360.000	700.000
Dividend Growth	-11.94%	-11.50%	25.56%	150.00%	-48.57%	7.69%
Effective Tax Rate	24.27%	25.32%	25.89%	25.12%	24.28%	25.17%

Source: S&P Capital IQ. Banks template. Financial Sources.