April 26, 2024

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[THE INVESTOR] Woori Bank said on April 20 net profit reached a record high in the first quarter on the back of the growth in interest margins.

Net profit stood at 589.7 billion (US$514.50 million) in the January-March period on a consolidated basis, surpassing the market consensus expectation of 506.8 billion, the lender said in a statement.

It was a 7.5-percent fall from the previous quarter, but if the one-off gains in 2017 from its bond sales regarding the Hua Fu building in China are excluded, its net profit surged 16.2 percent, according to the bank.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)