Woori Financial 3Q26 Net Income Falls 16.4% YoY to KRW 1.08T Despite Operating Income Jump
WF sits 42% above its 52-week low of $48.83.
Summary
Woori Financial's preliminary 3Q26 group net income fell 16.4% YoY to KRW 1.08 trillion, while Woori Bank's net income jumped 39.7% to KRW 1.03 trillion. Nine-month group net income is down 4.85% YoY.
Key Events · Earnings and Guidance · WF
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Group Net Income Falls 16.4% YoY
3Q 2026 net income was KRW 1,080,013 million versus KRW 1,291,504 million a year earlier; profit to parent equity holders fell 15.66% to KRW 1,049,159 million.
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Operating Income Jumps 43.6%
Operating income rose to KRW 1,418,989 million from KRW 988,030 million, but income before tax fell 6.92% to KRW 1,423,245 million, so the profit decline came below the operating line.
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Bank Subsidiary Carries the Group
Woori Bank net income rose 39.66% YoY to KRW 1,027,941 million on revenue of KRW 10,925,105 million, up 115.81% — essentially all of the group's quarterly profit.
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Nine-Month Trend Still Negative
Cumulative 2026 net income of KRW 2,745,928 million is down 4.85% from KRW 2,885,803 million in the first nine months of 2025.
Analysis · WF · Finance
Group net income dropped 16.4% year over year to KRW 1,080,013 million even as operating income rose 43.6% — the gap sits below the operating line, where income before tax fell 6.9% and prior-year results were not repeated. The bank subsidiary is the bright spot: Woori Bank net income rose 39.7% YoY to KRW 1,027,941 million, meaning the bank earned essentially all of the group's profit and non-bank units dragged. Cumulative nine-month net income of KRW 2,745,928 million is down 4.85% YoY, so the year-to-date trend is negative despite the strong third quarter. These are preliminary, unaudited K-IFRS figures subject to adjustment, and the earnings call is scheduled for today at 16:00 Korea time.
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At the time of this filing, WF was trading at $69.17 on NYSE in the Finance sector, with a market capitalization of approximately $17.3B. The 52-week trading range was $48.83 to $84.71. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.