Woori Bank's revenue soars 58% but profits disappoint in Q1
Its net profit reached 603 billion won ($407 million) in the January-March period, down 2.1 percent from a year earlier.
The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 736.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Operating profit for the quarter reached 808.2 billion won, down 7 percent from a year ago, while revenue rose 58.2 percent to 15.28 trillion won.
Interest income also rose 2.3 percent on year to 2.3 trillion won in the first quarter.
The group's noninterest income surged 26.7 percent on-year to 455 billion won in the January-March period, it added.
Flagship Woori Bank reported a net profit of 531 billion won in the first quarter, down from a net profit of 634 billion won a year earlier.
