6-K 1 d804993d6k.htm FORM 6-K Form 6-K

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2019

Commission File Number: 001-31811

 

 

Woori Financial Group Inc.

(Translation of registrant’s name into English)

 

 

51, Sogong-ro, Jung-gu, Seoul, 04632, Korea

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒             Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

 

 

 


Woori Financial Group’s Preliminary Financial Performance Figures

for the Third Quarter of 2019

The preliminary financial performance figures for Woori Financial Group for the nine-month period ended on September 30, 2019, on a consolidated basis, are as follows.

(Units: millions of KRW, %)

 

Item

   3Q 2019      2Q 2019      % Change
Increase
(Decrease)
     3Q 2018      % Change
Increase
(Decrease)
 

Revenue*

   Specified Quarter      7,307,829        6,295,461        16.08        —          —    
   Cumulative Basis      19,419,612        12,111,783        —          —          —    
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Operating Income

   Specified Quarter      659,304        876,413        (24.77      —          —    
   Cumulative Basis      2,369,716        1,710,412        —          —          —    
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Income before

   Specified Quarter      670,282        902,272        (25.71      —          —    

Income Tax Expense

   Cumulative Basis      2,398,364        1,728,082        —          —          —    
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Net Income

   Specified Quarter      534,120        657,434        (18.76      —          —    
   Cumulative Basis      1,806,083        1,271,963        —          —          —    
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Profit to the Equity Holders of the Parent Entity

   Specified Quarter      486,022        610,999        (20.45      —          —    
   Cumulative Basis      1,665,710        1,179,688        —          —          —    

The above figures are prepared in accordance with Korean International Financial Reporting Standards. The figures above are subject to adjustment as they are preliminary and have not been reviewed by our independent auditors.

 

*

Represents the sum of interest income, fee and commission income, dividend income, gain on financial assets and other operating income (excluding non-operating income).

- For more information, refer to our website. (www.woorifg.com)


Woori Bank’s Preliminary Financial Performance Figures

for the Third Quarter of 2019

The preliminary financial performance figures for Woori Bank for the nine-month period ended on September 30, 2019, on a consolidated basis, are as follows.

(Units: millions of KRW, %)

 

Item

   3Q 2019      2Q 2019      % Change
Increase
(Decrease)
     3Q 2018      % Change
Increase
(Decrease)
 

Revenue*

   Specified Quarter      6,927,611        5,930,954        16.80        3,692,882        87.59  
   Cumulative Basis      18,330,199        11,402,588        —          14,229,407        28.82  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Operating Income

   Specified Quarter      594,960        810,073        (26.55      691,359        (13.94
   Cumulative Basis      2,192,260        1,597,300        —          2,315,489        (5.32
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Income before

   Specified Quarter      797,445        821,721        (2.95      753,565        5.82  

Income Tax Expense

   Cumulative Basis      2,345,252        1,547,807        —          2,372,909        (1.17
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Net Income**

   Specified Quarter      65,841        668,228        (90.15      604,535        (89.11
   Cumulative Basis      1,312,227        1,246,386        —          1,920,852        (31.69
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Profit to the Equity Holders of the Parent Entity

   Specified Quarter      60,072        661,641        (90.92      597,527        (89.95
   Cumulative Basis      1,292,475        1,232,403        —          1,903,406        (32.10

The above figures are prepared in accordance with Korean International Financial Reporting Standards. The figures above are subject to adjustment as they are preliminary and have not been reviewed by our independent auditors.

 

*

Represents the sum of interest income, fee and commission income, dividend income, gain on financial assets and other operating income (excluding non-operating income).

**

Includes the effect of an accounting loss resulting from the transfer of Woori Card and Woori Investment Bank as direct subsidiaries of Woori Financial Group from direct subsidiaries of Woori Bank, which may not impact the Group’s consolidated Income Statement. Normalized net income for Woori Bank is around KRW 1.8 trillion considering the impact from accounting treatment.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

   

Woori Financial Group Inc.

    (Registrant)

Date: October 29, 2019

    By:  

/s/ Kyong-Hoon Park

    (Signature)
    Name:   Kyong-Hoon Park
    Title:   Deputy President