Q2 2026 Woori Financial Group Inc Earnings Call Transcript
Key Points
- Woori Financial Group Inc (WF) reported a significant increase in net income for Q2 2026, reaching 1 trillion, 4.6 billion won, up 66% quarter-over-quarter.
- The group's non-interest income increased by 20% year-over-year, driven by stronger capital market performance, becoming a primary driver of earnings growth.
- Fee income exceeded 700 billion won for the first time on a quarterly basis, supported by solid growth in core fee businesses such as Wealth Management and CIB.
- The non-bank's contribution to group net income more than tripled year-over-year, indicating successful diversification of the group's earnings structure.
- Woori Financial Group Inc (WF) announced a significant share buyback and cancellation program, totaling 350 billion won for 2026, reflecting a strong commitment to shareholder returns.
- Despite strong performance, the group's credit costs for the first half of 2026 amounted to 966 billion won, showing a slight increase year-over-year.
- Funding cost pressures increased amid higher market interest rates, which could pose challenges to maintaining net interest margins.
- The group's SG&A expenses amounted to 2 trillion 632.8 billion won, with structural cost increases due to consolidation and infrastructure build-out.
- The high exchange rate and interest rates led to trading and valuation losses, impacting earnings.
- The importance of risk management has increased following a policy rate hike, necessitating further monitoring of vulnerable borrowers.
Good afternoon. This is Hwan Hong Sung, Head of IR at Oori Financial Group.
Thank you for attending today's earnings call for Oori Financial Group despite your busy schedules.
Joining us today on the call are Group CFO, Kwak Sung-min Group CDO, okay Il-jin Group CRO, Park Jang-eun and Head of Business Growth Support, Yang Gi-hyun.
We will begin with the Group CFO's presentation, which will be followed by a Q&A session.
Please note that the session is being simultaneously interpreted for the benefit of overseas investors. With that, we will now hear from the CFO the earnings result presentation of Uri Financial Group's first half 2026.
Good afternoon. This is Kwak Sung Min, Woori Financial Group CFO. Let me go over the group's earnings results for first half 2026. Please refer to page 2 of our earnings results material available on the website.
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