Woori Financial Group (316140) investor relations material

Executive summary

• Q3 net income reached KRW 1.0492 trillion, up 4.4% QoQ and above KRW 1 trillion for a second consecutive quarter; YTD controlling-interest net income was KRW 2.6581 trillion.

• YTD net income grew 18.7% YoY excluding KRW 556 billion of prior-year insurance acquisition effects; common-equity ROE was 9.9%.

• Record revenue, stronger recurring fees and lower credit costs supported earnings, partly offset by rising funding costs and NIM pressure.

Financial highlights

• YTD net operating revenue was KRW 8.6803 trillion, up 6.2% YoY; interest income rose 4.5% to KRW 7.0359 trillion and non-interest income increased 13.9%.

• YTD operating income rose 19.5% to KRW 3.543 trillion; pre-tax income was KRW 3.590 trillion, up 0.3%, while reported controlling-interest net income fell 4.9%.

• YTD fees and commissions increased 18.8% to KRW 1.898 trillion; nine-month non-interest income reached a record KRW 1.6444 trillion.

• Q3 net operating revenue was KRW 2.958 trillion, down 0.2% QoQ; operating income rose 7.8% to KRW 1.419 trillion and net income increased 4.4% to KRW 1.049 trillion.

Outlook and guidance

• Q4 NIM is expected to stabilize or edge up; asset repricing from 2027 is expected to support further margin improvement.

• FY2026 credit costs are targeted to decline 15%, with the credit cost ratio in the early-40 bps range.

• 2026 total shareholder returns are expected in the mid-40% range; the stated 2027 goal is above 50%, subject to financial plans and board review.

• The Value-Up Plan targets annual DPS growth above 10%; quarterly dividends are planned to continue, with existing non-taxable dividend capacity expected to cover three to four years.