Woori Bank

Woori Financial Group, Inc. engages in providing banking and other financial services. The company was founded on April 2, 2001 and is headquartered in Seoul, South Korea.

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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.

A New Chapter Begins For Woori Financial (Rating Upgrade)

Woori Financial Group Inc. has long traded at a deep discount to its fundamentals. But a path to realizing value is finally taking shape. Patient investors also get to lock in some very attractive yields at current levels.

Woori Financial: This High Yielder Is No Longer A Value Trap

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.

Woori Financial: It's All About Dividends

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.

Woori Financial: Watch Capital Adequacy And Capital Allocation

Woori Financial Group Inc. (WF) Q1 2023 Earnings Call Transcript.

Woori Financial Group Inc. (WF) Q1 2023 Earnings Call Transcript

SEOUL, South Korea--(BUSINESS WIRE)--On April 21, 2023, Woori Financial Group Inc. (NYSE:WF) (KRX:316140) filed its Annual Report on Form 20-F for the year ended December 31, 2022 with the U.S. Securities and Exchange Commission. The 2022 Annual Report on Form 20-F can be downloaded from www.woorifg.com, as well as from the website of the U.S. Securities and Exchange Commission at www.sec.gov.

Woori Financial Group Inc. Files Its Annual Report on Form 20-F

Woori Financial Group Inc. could potentially face headwinds such as tighter capital requirements and the threat from new entrants judging by recent news flow. But Woori Financial has sent a clear message that it is committed to returning more capital to shareholders with its new 30% total shareholder capital return goal.

Woori Financial: Recent Developments Send Mixed Signals (Rating Downgrade)

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Woori Financial Group Inc. (NYSE:WF ) Q4 2022 Earnings Conference Call February 8, 2023 2:00 AM ET Company Participants Sang-Wook Chun - President Sung-Wook Lee - CFO Jung Seok-Yong - Chief Revenue Officer Conference Call Participants Park Hye-jin - Daishin Securities Jung Jun-Sup - NH Securities Kim Do Ha - Hanwha Securities Baek Doosan - Korea Investment & Securities Shim Jong-Min - CLSA Unidentified Company Representative Good afternoon. I am [indiscernible], Head of IR at Woori Financial Group and I will be moderating the conference call from this quarter.

Woori Financial Group Inc. (WF) Q4 2022 Earnings Call Transcript

I think that Woori Bank has the potential to outperform the KOSPI index during the next decade. The bank is attractive based on its low P/B ratio and historically high dividend yield.

Woori Bank: Accessing Korea's Stock Market At A Deep Discount

Among its peers, Woori Financial trades at the lowest forward P/E multiple and boasts the highest dividend yield. Woori Financial's share price performance was impacted by an employee embezzlement case and the sale of its shares by a key shareholder, but these issues should eventually blow over.

Woori Financial: It's All About Valuations

Woori Financial Group Inc. (NYSE:WF ) Q3 2022 Earnings Conference Call October 25, 2022 2:00 AM ET Company Participants Yi Jung Su - Head, Investor Relations Son Tae-Seung - Chairman Chun Sang-Wook - President Jung Seok-Yong - Chief Revenue Officer Park Jong-il - CSO and ESG Officer Lee Sung-Wook - Chief Financial Officer Conference Call Participants Jeong Tae-joon - Yuanta Securities Jung Jun-Sup - NH Securities Park Hye-jin - Daishin Securities Kim Do Ha - Hanwha Securities Shim Jong-Min - CLSA Yi Jung Su Good afternoon. I am Yi Jung Su [ph], Head of IR at Woori Financial Group.

Woori Financial Group Inc. (WF) Q3 2022 Earnings Call Transcript

Woori Financial Group is one of the big four South Korean banking institutions holding 12% of the banking system's total loans and 14% of deposits. Net income grew 98% YoY on revenue growth of 22.3% YoY. In their press release for first half results they breakout that first half revenue grew 61% over last year.

Woori Financial: 98% Net Income Growth YoY, Yet Trading At P/B Of 0.33

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Woori Financial Group, Inc. (WF) CEO Hwang Weon Cheol Q4 2021 Results - Earnings Call Transcript

Woori Financial Group, Inc. (WF) on Q3 2021 Results - Earnings Call Transcript

Woori Financial Group, Inc. (WF) on Q2 2021 Results - Earnings Call Transcript

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Woori Financial Group to acquire a 100% stake in Woori Card and buy a 59.8% stake in Woori Investment Bank.

Woori Financial Group: Earnings Strong, Uncertainty Removed

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