On Thursday, Woori Financial Group Inc. announced that their net profit for the third quarter of the year amounted to 918.2 billion won (US$675.2 million), a decrease of 1.6 percent compared to the same period last year.
The company’s operating income for the period of July to September was 1.22 trillion won, a decrease of 3.7 percent compared to the previous year. Revenue was also down 51.6 percent to 9.88 trillion won.
The results exceeded market predictions. According to a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency, the average prediction of net profit was 835.4 billion won.
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