uch as high net worth, mass affluent, middle class, and mass market. Lending Activities The company offers various consumer loan products to households and individuals. Its consumer loans consist of general purpose household loans, which are loans made to customers for any purpose (other than mortgage and home equity loans), and include overdraft loans, which are loans extended to customers to cover insufficient funds when they withdraw funds from their demand deposit accounts with the company in excess of the amount in such accounts up to a limit established by the company; and mortgage loans, which are loans made to customers to finance home purchases, construction, improvements or rentals, and home equity loans, which are loans made to customers secured by their homes to ensure loan repayment. The company also offers various collective housing loans, including loans to purchase property or finance the construction of housing units, loans to contractors to be used for working capital purposes, and loans to educational institutions and non-profit entities to finance the construction of dormitories. General Purpose Household Loans The company’s general purpose household loans might be secured by real estate (other than homes), deposits, or securities. Mortgage and Home Equity Lending The company provides customers with various mortgage and home equity loan products that have features, including terms, repayment schedules, amounts, and eligibility for loans. Private Banking Operations The company’s private banking operations within Woori Bank intend to service its high net worth and mass affluent retail customers. As of December 31, 2013, the company had approximately 122,800 customers who qualified for private banking services. Through its private bankers, the company provides financial and real estate advisory services to its high net worth and mass affluent customers. The company also markets differentiated investment and banking products and services to these segments, including beneficiary certificates, overseas mutual fund products, specialized bank accounts, and credit cards. In addition, it has developed a customer loyalty program for its private banking customers. Woori Bank has 405 branches that offer private banking services. Woori Bank also operates two ‘financial products department store’ in major metropolitan areas, which function as regular branches and through which the company offers and markets various financial products and services, including credit cards, foreign currency products, bonds, stocks, and insurance policies. These ‘department stores’ employ specialists in the areas of tax, real estate, and asset management and are dedicated to offering wealth management consulting services for high net worth customers. In addition, Woori Bank operates an advisory center in Seoul for its private banking clients, which employs 15 specialists advising on matters of law, tax, real estate, risk assessment, and investments. Deposit-Taking Activities The company offers deposit products that target different customers with different needs and characteristics. These deposit products fall into five categories, such as demand deposits, time deposits, savings deposits, installment deposits, and certificates of deposit. The company also offers deposits in foreign currencies and various specialized deposits products, including apartment application time deposits, apartment application installment savings deposits, apartment application savings account deposits, and apartment application comprehensive deposits. Branch Network and Other Distribution Channels Woori Bank had a total of 989 branches in Korea as of December 31, 2013. Woori Bank had 7,179 ATMs and 106 cash dispensers. Woori Bank’s automated telephone banking system offers various services, including inter-account fund transfers, balance and transaction inquiries and customer service inquiries. Woori Bank also operates a call center that handles calls from customers, engages in telemarketing and assists in the company’s collection efforts. The company’s Internet banking services include balance and transaction inquir
woori finance holdings-adr (WF:New York)
Phone: 82 2 2125 2000
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