Woori Financial Group reported second-quarter 2026 net income attributable to shareholders of KRW 1,004,635 million, or roughly KRW 1.005 trillion, up 66.2% quarter on quarter and 7.4% 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
Non-interest income rose 20% year on year, driven by stronger capital market performance, to a record KRW 1,063 billion for the first half and KRW 628.9 billion for the second quarter. Fee income exceeded KRW 700 billion in a quarter for the first time, supported by wealth management and corporate and investment banking.
Net operating revenue rose 6.0% year on year to a record KRW 5,722.7 billion in the first half.
The 66.2% quarter-on-quarter jump in second-quarter net income to roughly KRW 1.005 trillion beat market expectations and took quarterly net income back above KRW 1 trillion, the group said.
CREDIT COST GUIDANCE
Alongside the earnings numbers, Woori Financial Group said it aimed to keep its full-year credit cost ratio in the low-40 basis point range, having reported a common equity ROE of 9.0% for the first half.
The board approved a second-quarter dividend of KRW 220 per share and, for the first time since the holding company was established, an additional KRW 150 billion share buyback and cancellation for the second half.
H1 net income of KRW 1.609 trillion, up 3.7% year on year, provides the aggregate context for the second-quarter outturn.
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 diversifying its earnings, and its board approved a share exchange to make Tongyang Life Insurance a wholly owned subsidiary.
Second-quarter net income attributable to shareholders of roughly KRW 1.005 trillion, up 66.2% quarter on quarter and 7.4% 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, were reported alongside 20% year-on-year growth in non-interest income.