Strong market position as Korea's second-largest bank Strong corporate banking business Good revenue diversification especially at the group level Relatively large exposure to construction and real estate/leasing businesses Potential pressure on asset quality from high household leverage Relatively weak core earnings The stable outlook on Woori Bank reflects our view that potential credit risks remain manageable and that the bank is likely to be able to maintain its current level of capitalization for the next 24 months. Standard & Poor's Ratings Services believes Woori will likely manage the potential rise in credit costs with current preprovisioning profit levels amid an increasingly challenging operating environment, characterized by potential pressure on the quality of household debt and ongoing pressure on the quality...
Companies mentioned in this report are:
- Woori Bank
- Woori Finance Holdings Co. Ltd.
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Research Type: Full Analysis