Woori Financial Group reported second-quarter 2026 consolidated net income of KRW 1,026,539 million, or roughly KRW 1.005 trillion, up 60.54% quarter on quarter and 9.24% year on year, according to figures disclosed by the Seoul-based holding company.
First-half net income reached KRW 1.609 trillion, an increase of 3.7% on the same period a year earlier, as record net operating revenue and 20% year-on-year growth in non-interest income supported the underlying earnings performance.
NON-INTEREST INCOME LEADS GROWTH
The 20% year-on-year rise in non-interest income was one of the standout features of the release, reflecting the group's efforts to broaden its revenue base beyond traditional net interest income at Woori Bank. Non-interest income streams at Korean financial holding companies typically span securities, credit card, insurance and asset management activities.
Record net operating revenue for the half provides a further data point on the strength of the group's top-line performance, coming despite the ongoing margin pressures that Korean banks have flagged across recent reporting cycles.
The 60.54% quarter-on-quarter jump in second-quarter net income to roughly KRW 1.005 trillion reflects both the strength of the underlying quarter and the impact of specific items that weighed on first-quarter earnings earlier in the year. On a year-on-year basis, the 9.24% expansion provides a smoother read on the underlying trajectory.
TARGETS REAFFIRMED FOR FULL YEAR
Alongside the earnings numbers, Woori Financial Group reaffirmed its full-year credit cost and return on equity targets, signalling confidence in its ability to meet the guidance metrics set out for 2026 despite the mixed backdrop for the Korean banking sector.
That reaffirmation is likely to be closely scrutinised by investors focused on Korean bank shareholder returns, given the broader value-up initiative that has encouraged listed groups to improve profitability, capital efficiency and distributions to shareholders. Meeting stated targets is central to that agenda.
H1 net income of KRW 1.609 trillion, up 3.7% year on year, provides the aggregate context for the second-quarter outturn. That figure is the sum of the first- and second-quarter contributions and shows moderate underlying growth over the first six months of the year.
Woori is one of South Korea's four large financial holding companies, alongside KB Financial Group, Shinhan Financial Group and Hana Financial Group. The group has been working to expand its non-banking subsidiaries to reduce dependence on its core commercial banking arm, Woori Bank, and rebalance its earnings mix.
The reported combination of record net operating revenue, 20% growth in non-interest income and the reaffirmation of full-year targets speaks to progress on that strategic direction. Further colour on subsidiary contributions and outlook is expected to be provided in the group's accompanying investor materials and analyst call on the results.
Second-quarter consolidated net income of roughly KRW 1.005 trillion, up 60.54% quarter on quarter and 9.24% year on year, combined with first-half net income of KRW 1.609 trillion, up 3.7% year on year, and the record net operating revenue reading, place Woori Financial Group among the Korean financial holding companies delivering visible earnings momentum at the mid-year point, with 20% year-on-year growth in non-interest income underlining the shift in mix.