Woori Financial Group Inc. Q3 2026 Earnings Recap

Woori Financial fell 4.8% after earnings, with the sharp quarterly NIM decline and weaker noninterest income likely weighing on investors despite higher net income. Bank NIM dropped 7 bps quarter over quarter, while group noninterest income fell 7.6% as securities valuation losses and lower capital-market fees took a toll.

Key Takeaways

• Q3 net income was KRW 1,049.2 billion, up 4.4% quarter over quarter; year-to-date net income reached KRW 2,658.1 billion.
• Bank NIM was 1.43%, down 7 bps quarter over quarter. Management cited faster increases in market rates than lending rates and higher funding costs.
• Q3 noninterest income declined 7.6% quarter over quarter to KRW 581.4 billion, reflecting securities valuation losses and a sharp decline in capital-market fees.
• Year-to-date net operating revenue rose 6.2% year over year to a record KRW 8,680.3 billion; core fee income increased 18.8% to KRW 1.898 trillion.
• The preliminary CET1 ratio was 13.8%. The board approved a KRW 221-per-share Q3 dividend and a cancellation of 57,269 shares.