SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2021

Commission File Number: 001-31811

 

 

Woori Financial Group Inc.

(Translation of registrant’s name into English)

 

 

51, Sogong-ro, Jung-gu, Seoul, 04632, Korea

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

 

 

 


Woori Financial Group’s Preliminary Financial Performance Figures

for the First Quarter of 2021

The preliminary financial performance figures for Woori Financial Group for the three-month period ended on March 31, 2021, on a consolidated basis, are as follows. (Units: millions of KRW, %)

 

Item

   1Q 2021      4Q 2020      % Change
Increase
(Decrease)
     1Q 2020      % Change
Increase
(Decrease)
 

Revenue*

   Specified Quarter      8,714,570        9,673,350        -9.91        11,223,461        -22.35  
   Cumulative Basis      8,714,570        28,654,972        —          11,223,461        -22.35  

Operating Income

   Specified Quarter      933,305        232,636        301.19        773,338        20.69  
   Cumulative Basis      933,305        2,080,394        —          773,338        20.69  

Income before

   Specified Quarter      941,305        291,422        223.00        752,613        25.07  

Income Tax Expense

   Cumulative Basis      941,305        2,001,251        —          752,613        25.07  

Net Income

   Specified Quarter      718,432        219,501        227.30        557,771        28.80  
   Cumulative Basis      718,732        1,515,249        —          557,771        28.80  

Profit to the Equity

Holders of the Parent Entity

   Specified Quarter      671,560        166,502        303.33        518,216        29.59  
   Cumulative Basis      671,560        1,307,266        —          518,216        29.59  

The above figures are prepared in accordance with Korean International Financial Reporting Standards. The figures above are subject to adjustment as they are preliminary and have not been reviewed by our independent auditors.

 

*

Represents the sum of interest income, fee and commission income, dividend income, gain on financial assets and other operating income (excluding non-operating income).


Woori Bank’s Preliminary Financial Performance Figures

for the First Quarter of 2021

The preliminary financial performance figures for Woori Bank, a wholly-owned subsidiary of Woori Financial Group, for the three-month period ended on March 31, 2021, on a consolidated basis, are as follows. (Units: millions of KRW, %)

 

Item

   1Q 2021      4Q 2020      % Change
Increase
(Decrease)
     1Q 2020      % Change
Increase
(Decrease)
 

Revenue*

   Specified Quarter      8,038,046        9,078,450        -11.46        10,775,411        -25.40  
   Cumulative Basis      8,038,046        26,838,766        —          10,775,411        -25.40  

Operating Income

   Specified Quarter      773,339        266,179        190.53        698,637        10.69  
   Cumulative Basis      773,339        1,925,692        —          698,637        10.69  

Income before

   Specified Quarter      783,427        258,465        203.11        680,855        15.07  

Income Tax Expense

   Cumulative Basis      783,427        1,787,990        —          680,855        15.07  

Net Income

   Specified Quarter      591,751        204,513        189.35        505,656        17.03  
   Cumulative Basis      591,751        1,370,305        —          505,656        17.03  

Profit to the Equity

Holders of the Parent Entity

   Specified Quarter      589,370        204,581        188.09        503,570        17.04  
   Cumulative Basis      589,370        1,363,224        —          503,570        17.04  

The above figures are prepared in accordance with Korean International Financial Reporting Standards. The figures above are subject to adjustment as they are preliminary and have not been reviewed by our independent auditors.

 

*

Represents the sum of interest income, fee and commission income, dividend income, gain on financial assets and other operating income (excluding non-operating income).


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    

Woori Financial Group Inc.

     (Registrant)
Date: April 21, 2021               By:   

/s/ Sung-Wook Lee

     (Signature)
     Name: Sung-Wook Lee
     Title:   Senior Managing Director
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