Profile
Sector:
Financial ServicesIndustry:
Banks - RegionalCountry:
South KoreaIPO:
01 October 2003Website:
http://www.woorifg.comNext earnings report:
26 July 2024Last dividends:
28 March 2024Next dividends:
N/APrice
pre-market | 20 min agoAnalysts recommendations
Institutional Ownership
WF Latest News
Korean government agency KDIC is no longer a shareholder of Woori Financial, and this should give WF greater flexibility to pursue various shareholder value enhancement initiatives. I think that returning a larger proportion of earnings to shareholders and increasing the financial contribution from non-banking businesses are potential catalysts for Woori Financial. I upgrade my rating for WF to a Buy; the stock's P/E and P/B valuations are undemanding.
Woori Financial Group Inc. (WF) FY2023 Earnings Call Transcript
Woori Financial has made the switch from a semi-annual dividend payment frequency in the past to distributing quarterly dividends going forward. But there is a real risk of a dividend cut for WF in FY 2023, considering its earnings outlook, dividend payout ratio, and CET1 ratio. I maintain a Neutral rating for Woori Financial, as I think that WF isn't an appealing investment choice from a dividend investor's perspective.
The CET1 ratio for Woori Financial has increased YoY and QoQ in the recent quarter, but WF's CET1 ratio is still the lowest among the major Korean financial institutions. Woori Financial's future capital allocation initiatives like M&A and capital return might be affected by the need for WF to have a reasonably high CET1 ratio to meet regulatory requirements. I continue to assign a Hold rating to WF stock based on my assessment of Woori Financial's capital adequacy metrics and capital allocation plans.
What type of business is Woori Financial?
Woori Financial Group Inc., together with its subsidiaries, operates as a commercial bank that provides a range of financial services to individual, business, and institutional customers in Korea. It operates through Banking, Credit Card, Capital, Investment Banking, and Others segments. The company offers savings, demand, and installment deposits; time deposits and certificates of deposit; and working capital, facilities, general purpose household, mortgage, and home equity loans. It also offers debit and credit cards, cash services, card loans, and related services; lease financing; and securities operation, sale of financial instruments, project financing, and other related activities. In addition, the company provides credit purchase, cash advance, credit card loans, foreign exchange services and dealing, import and export-related services, offshore lending, syndicated loans and foreign currency securities investment, investment trust products, bancassurance, and private equity funds. Further, it is involved in the real estate, system software development and maintenance, financing, credit information, securities investment and trading, derivatives trading, asset securitization, investment and international banking, money transfer, and other service. The company also offers automated telephone, Internet, and mobile banking services. In addition, it offers trust management, trustee and custodian service, and repurchase instrument. As of December 31, 2021, it served customers through a network of 768 branches and 4,296 ATMs. The company was founded in 1899 and is headquartered in Seoul, South Korea.
What sector is Woori Financial in?
Woori Financial is in the Financial Services sector
What industry is Woori Financial in?
Woori Financial is in the Banks - Regional industry
What country is Woori Financial from?
Woori Financial is headquartered in South Korea
When did Woori Financial go public?
Woori Financial initial public offering (IPO) was on 01 October 2003
What is Woori Financial website?
https://www.woorifg.com
Is Woori Financial in the S&P 500?
No, Woori Financial is not included in the S&P 500 index
Is Woori Financial in the NASDAQ 100?
No, Woori Financial is not included in the NASDAQ 100 index
Is Woori Financial in the Dow Jones?
No, Woori Financial is not included in the Dow Jones index
When does Woori Financial report earnings?
The next expected earnings date for Woori Financial is 26 July 2024