Woori Finance Holdings Co., Ltd., through its subsidiaries, engages in a range of businesses, including commercial banking, credit cards, capital markets activities, international banking, asset management, and bancassurance. The company provides a range of products and services to its customers, including individuals and small- and medium-sized enterprises, as well as some of Korea’s major corporations. Strategy The primary elements of the company’s business strategy are to improve its asset quality and strengthen its risk management practices; improve customer profitability through optimization of channel usage, products, and services for each customer segment; and strengthen the performance of its management. Its strategy for the large corporate banking segment is to develop new products and cross-sell its existing products and services to its core base of large corporate customers. Corporate Banking The company provides commercial banking services to large corporate customers (including government-owned enterprises) and small- and medium-sized enterprises in Korea. Its corporate banking operations consist primarily of lending to and taking deposits from its corporate customers. The company also provides ancillary services on a fee basis, such as inter-account transfers, transfers of funds from branches and agencies of a company to its headquarters, and transfers of funds from a company’s customer accounts to the company’s main account. It provides its corporate banking services primarily through Woori Bank, although the company’s subsidiaries, Kyongnam Bank and Kwangju Bank provide similar services to small- and medium-sized enterprises in their respective geographical regions. The company’s corporate loans consist principally of working capital loans, which are loans used for general working capital purposes, typically with a maturity of one year or less, including notes discounted and trade finance; and facilities loans, which are loans to finance the purchase of materials, equipment, and facilities, typically with a maturity of three years or more. On the deposit-taking side, the company offers its corporate customers various types of corporate deposit products. These products could be divided into two categories, including demand deposits that have no restrictions on deposits or withdrawals, and which offer a relatively low interest rate; and time deposits from which withdrawals are restricted for a period of time, and offer higher interest rates. The company also offers installment deposits, certificates of deposit, and repurchase instruments. It offers varying interest rates on its deposit products depending upon the rate of return on its income-earning assets, average funding costs, and interest rates offered by other nationwide commercial banks. Small-and Medium-Sized Enterprise Banking The company services its small- and medium-sized enterprise customers primarily through Woori Bank’s network of branches and small- and medium-sized enterprise relationship managers, as well as through the branches and headquarters of Kyongnam Bank and Kwangju Bank. In addition, the company operates customer loyalty programs at Woori Bank for its profitable small- and medium-sized enterprise customers, and provides them with benefits and services, such as preferential rates, free seminars and workshops, and complementary invitations to cultural events. Lending Activities: The company provides both working capital loans and facilities loans to its small- and medium-sized enterprise customers. As of December 31, 2012, it had approximately 228,000 small- and medium-sized enterprise borrowers. Large Corporate Banking The company’s large corporate customers consist of companies that are not ‘small- and medium-size enterprises’ as defined in the Small and Medium Industry Basic Act of Korea and related regulations. It services its large corporate customers primarily through Woori Bank’s network of corporate banking centers and general managers. Lending Activities: The company provides both working capital loans and facilities loans to its large corporate customers. Consumer Banking The comp
woori finance holdings-adr (WF:New York)
Phone: 82 2 2125 2000
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