Report of Foreign Issuer (6-k)
March 05 2018 - 9:19AM
Edgar (US Regulatory)
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 March 2018
Woori Bank
(Translation of registrants 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 registrants home country), or under the rules of the home country exchange on which the
registrants 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 registrants 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.
51,
Sogong-ro,
Jung-gu, Seoul, 04632 Korea
March 5, 2018
To Shareholders:
Convocation Notice of the Annual General Meeting of Shareholders
Notice is hereby given that an Annual General Meeting of Shareholders of Woori Bank (the Company) will be held as described hereunder and your
attendance is cordially requested.
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Very truly yours,
Tae Seung Sohn
President and CEO
Woori Bank
51,
Sogong-ro,
Jung-gu
Seoul 04632, Korea
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Description
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1. Date and Time
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March 23, 2018; 10 A.M. (Local time)
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2. Venue
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5th floor / Woori Bank,
51,
Sogong-ro,
Jung-gu,
Seoul, Korea
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3. Agenda
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1. Approval of financial statements for the fiscal year 2017
2. Appointment of director
-
Non-standing
Director Candidate :
Chang-Sik
Bae
3. Approval of the maximum limit on directors compensation
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Reference Document for the Exercise of Voting Rights
1. Approval of financial statements for the fiscal year 2017
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Please refer to Appendix A.
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The consolidated and separate financial statements in Appendix A have not yet been audited and are subject to change. For the audited financial statements, please refer to the Audit Reports to be furnished to the U.S.
Securities and Exchange Commission as an exhibit to the Form
6-K.
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2. Appointment of director
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Non-standing
Director Candidate :
Chang-Sik
Bae
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Name
(Date of birth)
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Experience
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Nominated by
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Relationship
with the
Largest
shareholder
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Transactions
with the
Company
within the past
three years
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Term
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Chang-Sik Bae
(Dec. 8, 1963)
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- (Current) Head of Office of Human Resources Development, KDIC
- Head of Department of Settlement and Recovery Planning 2, KDIC
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Board of
Directors
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Employee
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None
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Note 1)
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From the time of appointment at the AGM held in Mar. 2018 to the end of the AGM held in Mar. 2020
3. Approval of directors compensation limit
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Item
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2017
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2018
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Number of directors
(Number of outside directors)
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8 (5)
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8 (5)
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Compensation limit
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3.2 billion won
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3.2 billion won
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*
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Allocation within the total compensation limit delegated to the board of directors (Compensation Committee).
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Appendix A. Financial Statements for FY2017
For further information, please refer to the Audit Reports be furnished to the U.S. Securities and Exchange Commission as an exhibit to the Form
6-K.
The Audit Reports will be available on the U.S. Securities and Exchange Commission website at
www.sec.gov.
WOORI BANK AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2017 AND 2016
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December 31,
2017
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December 31,
2016
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(Korean Won in millions)
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ASSETS
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Cash and cash equivalents (Note 6)
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6,908,286
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7,591,324
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Financial assets at fair value through profit or loss
(Notes 4,7,11,12,18 and 26)
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5,843,077
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5,650,724
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Available-for-sale
financial assets (Notes 4,8,11,12 and 18)
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15,352,950
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20,817,583
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Held-to-maturity
financial assets (Notes 4,9,11,12 and 18)
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16,749,296
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13,910,251
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Loans and receivables (Notes 4,10,11,12,18 and 45)
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267,106,204
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258,392,633
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Investments in joint ventures and associates (Note 13)
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417,051
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439,012
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Investment properties (Note 14)
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371,301
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358,497
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Premises and equipment (Notes 15 and 18)
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2,477,545
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2,458,025
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Intangible assets and goodwill (Note 16)
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518,599
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483,739
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Assets held for sale (Note 17)
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48,624
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2,342
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Current tax assets (Note 42)
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4,722
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6,229
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Deferred tax assets (Note 42)
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280,130
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232,007
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Derivative assets (Notes 4,11,12 and 26)
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59,272
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140,577
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Net defined benefit assets (Note 24)
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70,938
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Other assets (Notes 19 and 45)
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158,404
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128,846
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Total assets
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316,295,461
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310,682,727
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LIABILITIES
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Financial liabilities at fair value through profit or loss
(Notes 4,11,12,20 and 26)
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3,427,909
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3,803,358
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Deposits due to customers (Notes 4,11,21 and 45)
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234,695,084
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221,020,411
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Borrowings (Notes 4,11,12 and 22)
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14,784,706
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18,769,515
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Debentures (Notes 4,11 and 22)
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27,869,651
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23,565,449
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Provisions (Notes 23, 44 and 45)
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410,470
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428,477
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Net defined benefit liability (Note 24)
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43,264
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64,666
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Current tax liabilities (Note 42)
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232,600
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171,192
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Deferred tax liabilities (Note 42)
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22,681
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22,023
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Derivative liabilities (Notes 4,11,12 and 26)
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67,754
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7,221
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Other financial liabilities (Notes 4,11,12, 25 and 45)
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13,892,461
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21,985,086
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Other liabilities (Notes 25 and 45)
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283,981
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299,376
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Total liabilities
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295,730,561
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290,136,774
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(Continued)
WOORI BANK AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2017 AND 2016 (CONTINUED)
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December 31,
2017
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December 31,
2016
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(Korean Won in millions)
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EQUITY
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Owners equity:
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20,365,892
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20,386,160
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Capital stock (Note 28)
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3,381,392
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3,381,392
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Hybrid securities (Note 29)
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3,017,888
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3,574,896
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Capital surplus (Note 28)
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285,880
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286,331
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Other equity (Note 30)
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(1,939,274
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(1,468,025
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Retained earnings (Notes 31 and 32)
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(Regulatory reserve for credit loss as of December 31, 2017 and 2016 is 2,438,191 million
Won and 2,255,252 million Won, respectively
Regulatory reserve for credit loss to be reserved as of
December 31, 2017 and 2016 is 140,266 million Won and 182,939 million Won, respectively
Planned
provision of regulatory reserve for credit loss as of December 31, 2017 and 2016 is 140,266 million Won and 182,939 million Won, respectively)
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15,620,006
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14,611,566
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Non-controlling
interests
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199,008
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159,793
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Total equity
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20,564,900
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20,545,953
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Total liabilities and equity
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316,295,461
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310,682,727
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WOORI BANK AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
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2017
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2016
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(Korean Won in millions,
except for per share data)
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Interest income
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8,550,687
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8,512,312
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Interest expense
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(3,330,037
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)
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(3,492,768
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)
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Net interest income
(Notes 34 and 45)
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5,220,650
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5,019,544
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Fees and commissions income
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2,069,198
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1,865,470
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Fees and commissions expense
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(998,732
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)
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(928,339
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)
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Net fees and commissions income
(Notes 35 and 45)
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1,070,466
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937,131
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Dividend income (Note 36)
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124,992
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184,510
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Net gain on financial instruments at fair value through profit or loss (Note 37)
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(104,827
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)
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114,387
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Net loss on
available-for-sale
financial assets (Note 38)
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192,708
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(1,035
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)
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Impairment losses on credit loss (Notes 39 and 45)
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(785,133
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)
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(834,076
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)
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General and administrative expenses (Notes 40 and 45)
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(3,530,801
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)
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(3,478,476
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)
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Net other operating expenses (Notes 40 and 45)
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(31,313
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)
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(367,779
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)
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Operating income
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|
2,156,742
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1,574,206
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Share of losses of joint ventures and associates (Note 13)
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(101,514
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)
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|
(19,507
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)
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Net other
non-operating
income (expense)
|
|
|
(105,722
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)
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|
(1,310
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)
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|
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Non-operating
income (loss) (Note 41)
|
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|
(207,236
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)
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|
(20,817
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)
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|
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Net income before income tax expense
|
|
|
1,949,506
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|
|
|
1,553,389
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Income tax expense (Note 42)
|
|
|
(419,418
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)
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|
(275,856
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)
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|
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Net income from continuing operations
|
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|
1,530,088
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|
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|
1,277,533
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Net income
(Net income after the provision of regulatory reserve for credit loss for the years ended December 31, 2017 and
2016 are 1,389,822 million Won and 1,094,594 million Won, respectively) (Note 32)
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|
1,530,088
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|
1,277,533
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|
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|
|
|
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|
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Remeasurement of the net defined benefit liability
|
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|
10,497
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|
|
|
34,162
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|
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|
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|
|
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|
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Items that will not be reclassified to profit or loss
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10,497
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|
34,162
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Gain on
available-for-sale
financial assets
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|
(84,498
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)
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|
12,586
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Share of other comprehensive gain (loss) of joint ventures and associates
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|
612
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|
(7,937
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)
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Gain on foreign currency translation of foreign operations
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|
(208,329
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)
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|
28,712
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Gain on valuation of cash flow hedge
|
|
|
777
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|
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|
10,371
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Equity related to
non-current
assets held for
sale
|
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|
4,145
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|
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|
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|
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|
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|
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|
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Items that may be reclassified to profit or loss
|
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|
(287,293
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)
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|
43,732
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Other comprehensive income , net of tax
|
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|
(276,796
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)
|
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|
77,894
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|
|
|
|
Total comprehensive income
|
|
|
1,253,292
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|
|
|
1,355,427
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|
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Net income attributable to:
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|
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Net income attributable to owners
|
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|
1,512,148
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|
|
|
1,261,266
|
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Net income attributable to
non-controlling
interests
|
|
|
17,940
|
|
|
|
16,267
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|
|
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Total comprehensive income attributable to:
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|
|
|
|
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|
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Comprehensive income attributable to owners
|
|
|
1,249,057
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|
|
|
1,332,614
|
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Comprehensive income attributable to
non-controlling
interests
|
|
|
4,235
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|
|
|
22,813
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Basic and diluted earnings from operations per share
(In Korean Won)
(Note 43)
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|
1,999
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|
|
|
1,567
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WOORI BANK AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
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|
|
|
|
|
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Capital
stock
|
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Hybrid
securities
|
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Capital
surplus
|
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Other
Equity and
others
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Retained
earnings
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Controlling
interests
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Non-controlling
interests
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Total
equity
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|
|
(Korean Won in millions)
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January 1, 2016
|
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|
3,381,392
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|
|
|
3,334,002
|
|
|
|
294,259
|
|
|
|
(1,547,303
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)
|
|
|
13,726,122
|
|
|
|
19,188,472
|
|
|
|
121,443
|
|
|
|
19,309,915
|
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Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,261,266
|
|
|
|
1,261,266
|
|
|
|
16,267
|
|
|
|
1,277,533
|
|
Dividends
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(168,317
|
)
|
|
|
(168,317
|
)
|
|
|
(1,286
|
)
|
|
|
(169,603
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)
|
Change in capital surplus of consolidated subsidiaries
|
|
|
|
|
|
|
|
|
|
|
(7,928
|
)
|
|
|
7,930
|
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
2
|
|
Changes in
non-controlling
interests due to acquisition of
subsidiary
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,823
|
|
|
|
16,823
|
|
Gain on valuation of
available-for-sale
financial assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,296
|
|
|
|
|
|
|
|
12,296
|
|
|
|
290
|
|
|
|
12,586
|
|
Share of other comprehensive loss of joint ventures and associates
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(7,937
|
)
|
|
|
|
|
|
|
(7,937
|
)
|
|
|
|
|
|
|
(7,937
|
)
|
Gain on foreign currencies translation of foreign operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,436
|
|
|
|
|
|
|
|
22,436
|
|
|
|
6,276
|
|
|
|
28,712
|
|
Remeasurement of the net defined benefit liability
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
34,182
|
|
|
|
|
|
|
|
34,182
|
|
|
|
(20
|
)
|
|
|
34,162
|
|
Gain on valuation of cash flow hedge
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,371
|
|
|
|
|
|
|
|
10,371
|
|
|
|
|
|
|
|
10,371
|
|
Dividends to hybrid securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(206,515
|
)
|
|
|
(206,515
|
)
|
|
|
|
|
|
|
(206,515
|
)
|
Issuance of hybrid securities
|
|
|
|
|
|
|
549,904
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
549,904
|
|
|
|
|
|
|
|
549,904
|
|
Repayment of hybrid securities
|
|
|
|
|
|
|
(309,010
|
)
|
|
|
|
|
|
|
|
|
|
|
(990
|
)
|
|
|
(310,000
|
)
|
|
|
|
|
|
|
(310,000
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016
|
|
|
3,381,392
|
|
|
|
3,574,896
|
|
|
|
286,331
|
|
|
|
(1,468,025
|
)
|
|
|
14,611,566
|
|
|
|
20,386,160
|
|
|
|
159,793
|
|
|
|
20,545,953
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 1, 2017
|
|
|
3,381,392
|
|
|
|
3,574,896
|
|
|
|
286,331
|
|
|
|
(1,468,025
|
)
|
|
|
14,611,566
|
|
|
|
20,386,160
|
|
|
|
159,793
|
|
|
|
20,545,953
|
|
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,512,148
|
|
|
|
1,512,148
|
|
|
|
17,940
|
|
|
|
1,530,088
|
|
Dividends
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(336,636
|
)
|
|
|
(336,636
|
)
|
|
|
(1,554
|
)
|
|
|
(338,190
|
)
|
Subsidiary capital increase
|
|
|
|
|
|
|
|
|
|
|
(451
|
)
|
|
|
|
|
|
|
|
|
|
|
(451
|
)
|
|
|
36,534
|
|
|
|
36,083
|
|
Gain(loss) on valuation of
available-for-sale
financial assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(85,051
|
)
|
|
|
|
|
|
|
(85,051
|
)
|
|
|
553
|
|
|
|
(84,498
|
)
|
Changes in equity of joint ventures and associates
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
612
|
|
|
|
|
|
|
|
612
|
|
|
|
|
|
|
|
612
|
|
Loss on foreign currencies translation of foreign operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(194,347
|
)
|
|
|
|
|
|
|
(194,347
|
)
|
|
|
(13,982
|
)
|
|
|
(208,329
|
)
|
Gain on valuation of cash flow hedge
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
777
|
|
|
|
|
|
|
|
777
|
|
|
|
|
|
|
|
777
|
|
Remeasurement of the net defined benefit liability
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,773
|
|
|
|
|
|
|
|
10,773
|
|
|
|
(276
|
)
|
|
|
10,497
|
|
Equity related to
non-current
assets held for sale
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,145
|
|
|
|
|
|
|
|
4,145
|
|
|
|
|
|
|
|
4,145
|
|
Dividends on hybrid securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(167,072
|
)
|
|
|
(167,072
|
)
|
|
|
|
|
|
|
(167,072
|
)
|
Issuance of hybrid securities
|
|
|
|
|
|
|
559,565
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
559,565
|
|
|
|
|
|
|
|
559,565
|
|
Redemption of hybrid securities
|
|
|
|
|
|
|
(1,116,573
|
)
|
|
|
|
|
|
|
(208,158
|
)
|
|
|
|
|
|
|
(1,324,731
|
)
|
|
|
|
|
|
|
(1,324,731
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2017
|
|
|
3,381,392
|
|
|
|
3,017,888
|
|
|
|
285,880
|
|
|
|
(1,939,274
|
)
|
|
|
15,620,006
|
|
|
|
20,365,892
|
|
|
|
199,008
|
|
|
|
20,564,900
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WOORI BANK AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
2016
|
|
|
|
(Korean Won in millions)
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
Net income
|
|
|
1,530,088
|
|
|
|
1,277,533
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
|
419,418
|
|
|
|
275,856
|
|
Interest income
|
|
|
(8,550,687
|
)
|
|
|
(8,512,312
|
)
|
Interest expense
|
|
|
3,330,037
|
|
|
|
3,492,768
|
|
Dividend income
|
|
|
(124,992
|
)
|
|
|
(184,510
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
(4,926,224
|
)
|
|
|
(4,928,198
|
)
|
|
|
|
|
|
|
|
|
|
Additions of expenses not involving cash outflows:
|
|
|
|
|
|
|
|
|
Impairment losses on credit loss
|
|
|
785,133
|
|
|
|
834,076
|
|
Loss on valuation of financial instruments at fair value through profit or loss
|
|
|
15,267
|
|
|
|
|
|
Loss on
available-for-sale
financial assets
|
|
|
|
|
|
|
1,035
|
|
Impairment loss on investments in joint ventures and associates
|
|
|
185,020
|
|
|
|
56,264
|
|
Loss on transaction and valuation of derivatives instruments (hedging)
|
|
|
109,569
|
|
|
|
98,981
|
|
Loss on hedged items (fair value hedge)
|
|
|
|
|
|
|
475
|
|
Provisions
|
|
|
107,028
|
|
|
|
34,774
|
|
Retirement benefits
|
|
|
142,902
|
|
|
|
152,609
|
|
Depreciation and amortization
|
|
|
235,795
|
|
|
|
252,031
|
|
Loss on disposal of investments in joint ventures and associates
|
|
|
38,713
|
|
|
|
15,060
|
|
Loss on disposal of premises and equipment and other assets
|
|
|
9,994
|
|
|
|
9,718
|
|
Impairment loss on premises and equipment and other assets
|
|
|
390
|
|
|
|
1,936
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,629,811
|
|
|
|
1,456,959
|
|
|
|
|
|
|
|
|
|
|
Deduction of revenues not involving cash inflows:
|
|
|
|
|
|
|
|
|
Gain on valuation of financial instruments at fair value through profit or loss
|
|
|
|
|
|
|
75,690
|
|
Gain on
available-for-sale
financial assets
|
|
|
192,708
|
|
|
|
|
|
Gain on valuation of investments in joint ventures and associates
|
|
|
83,506
|
|
|
|
36,757
|
|
Gain on transaction and valuation of derivatives instruments (hedging)
|
|
|
122
|
|
|
|
130
|
|
Gain on hedged items (fair value hedge)
|
|
|
53,532
|
|
|
|
99,302
|
|
Reversal of provisions
|
|
|
2,567
|
|
|
|
1,396
|
|
Gain on disposal of investments in joint ventures and associates
|
|
|
39,932
|
|
|
|
23,457
|
|
Gain on disposal of premises and equipment and other assets
|
|
|
5,028
|
|
|
|
1,885
|
|
Reversal of impairment loss on premises and equipment and other assets
|
|
|
666
|
|
|
|
3,581
|
|
|
|
|
|
|
|
|
|
|
|
|
|
378,061
|
|
|
|
242,198
|
|
|
|
|
|
|
|
|
|
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
|
|
Financial instruments at fair value through profit or loss
|
|
|
(583,068
|
)
|
|
|
(99,581
|
)
|
Loans and receivables
|
|
|
(9,647,563
|
)
|
|
|
(14,433,390
|
)
|
Other assets
|
|
|
35,953
|
|
|
|
219,323
|
|
Deposits due to customers
|
|
|
13,634,873
|
|
|
|
11,878,628
|
|
Provision
|
|
|
(122,711
|
)
|
|
|
34,376
|
|
Net defined benefit liability
|
|
|
(46,789
|
)
|
|
|
(261,097
|
)
|
Other financial liabilities
|
|
|
(7,966,786
|
)
|
|
|
5,158,055
|
|
Other liabilities
|
|
|
(27,550
|
)
|
|
|
(6,163
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
(4,723,641
|
)
|
|
|
2,490,151
|
|
|
|
|
|
|
|
|
|
|
WOORI BANK AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016 (CONTINUED)
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
2016
|
|
|
|
(Korean Won in millions)
|
|
Cash received from (paid for) operating activities:
|
|
|
|
|
|
|
|
|
Interest income received
|
|
|
8,570,715
|
|
|
|
8,511,349
|
|
Interest expense paid
|
|
|
(3,404,608
|
)
|
|
|
(3,593,358
|
)
|
Dividends received
|
|
|
127,343
|
|
|
|
184,674
|
|
Income tax paid
|
|
|
(404,428
|
)
|
|
|
(251,627
|
)
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities
|
|
|
(1,979,005
|
)
|
|
|
4,905,285
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
Cash
in-flows
from investing activities:
|
|
|
|
|
|
|
|
|
Disposal of
available-for-sale
financial assets
|
|
|
24,912,752
|
|
|
|
20,395,744
|
|
Redemption of
held-to-maturity
financial assets
|
|
|
8,587,092
|
|
|
|
8,462,346
|
|
Disposal of investments in joint ventures and associates
|
|
|
70,180
|
|
|
|
97,135
|
|
Disposal of subsidiaries
|
|
|
203
|
|
|
|
|
|
Disposal of investment properties
|
|
|
418
|
|
|
|
|
|
Disposal of premises and equipment
|
|
|
7,428
|
|
|
|
63
|
|
Disposal of intangible assets
|
|
|
1,188
|
|
|
|
4,325
|
|
Disposal of assets held for sale
|
|
|
24,808
|
|
|
|
22,723
|
|
|
|
|
|
|
|
|
|
|
|
|
|
33,604,069
|
|
|
|
28,982,336
|
|
|
|
|
|
|
|
|
|
|
Cash
out-flows
from investing activities:
|
|
|
|
|
|
|
|
|
Net cash flows through business combination
|
|
|
|
|
|
|
132,301
|
|
Acquisition of
available-for-sale
financial assets
|
|
|
19,674,346
|
|
|
|
23,844,849
|
|
Acquisition of
held-to-maturity
financial assets
|
|
|
11,521,065
|
|
|
|
8,818,376
|
|
Acquisition of investments in joint ventures and associates
|
|
|
143,161
|
|
|
|
43,281
|
|
Acquisition of investment properties
|
|
|
9,872
|
|
|
|
4,428
|
|
Acquisition of premises and equipment
|
|
|
162,245
|
|
|
|
131,009
|
|
Acquisition of intangible assets
|
|
|
195,929
|
|
|
|
191,161
|
|
Cash
out-flow
related to derivatives for risk
hedge
|
|
|
13,742
|
|
|
|
42,544
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31,720,360
|
|
|
|
33,207,949
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities
|
|
|
1,883,709
|
|
|
|
(4,225,613
|
)
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
Cash inflows from financing activities:
|
|
|
|
|
|
|
|
|
Increase in borrowings
|
|
|
9,057,999
|
|
|
|
8,259,380
|
|
Issuance of debentures
|
|
|
18,438,221
|
|
|
|
15,848,055
|
|
Issuance of hybrid securities
|
|
|
559,565
|
|
|
|
549,904
|
|
Capital increase of subsidiaries
|
|
|
35,841
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,091,626
|
|
|
|
24,657,339
|
|
|
|
|
|
|
|
|
|
|
Cash outflows from financing activities:
|
|
|
|
|
|
|
|
|
Decrease in borrowings
|
|
|
12,692,883
|
|
|
|
9,524,626
|
|
Repayment of debentures
|
|
|
13,620,520
|
|
|
|
14,118,720
|
|
Payment of dividends
|
|
|
336,636
|
|
|
|
168,317
|
|
Dividends paid on hybrid securities
|
|
|
177,730
|
|
|
|
201,328
|
|
Redemption of hybrid securities
|
|
|
1,323,400
|
|
|
|
310,000
|
|
Dividends paid on
non-controlling
interests
|
|
|
1,554
|
|
|
|
1,286
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,152,723
|
|
|
|
24,324,277
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities
|
|
|
(61,097
|
)
|
|
|
333,062
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
|
(156,393
|
)
|
|
|
1,012,734
|
|
Cash and cash equivalents, beginning of the period
|
|
|
7,591,324
|
|
|
|
6,644,055
|
|
Effects of exchange rate changes on cash and cash equivalents
|
|
|
(526,645
|
)
|
|
|
(65,465
|
)
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents, end of the period
|
|
|
6,908,286
|
|
|
|
7,591,324
|
|
|
|
|
|
|
|
|
|
|
WOORI BANK
SEPARATE STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2017 AND DECEMBER 31, 2016
|
|
|
|
|
|
|
|
|
|
|
December 31,
2017
|
|
|
December 31,
2016
|
|
|
|
(Korean Won in millions)
|
|
ASSETS
|
|
|
|
|
Cash and cash equivalents (Notes 6)
|
|
|
5,328,960
|
|
|
|
6,104,029
|
|
Financial assets at fair value through profit or loss
(Notes 4, 7, 11, 12, 18 and 26)
|
|
|
4,133,724
|
|
|
|
4,076,872
|
|
Available-for-sale
financial assets (Notes 4, 8, 11, 12 and 18)
|
|
|
14,186,704
|
|
|
|
18,105,862
|
|
Held-to-maturity
financial assets
(Notes 4, 9, 11, 12 and 18)
|
|
|
16,638,727
|
|
|
|
13,792,266
|
|
Loans and receivables (Notes 4, 10, 11, 12, 18 and 45)
|
|
|
248,810,624
|
|
|
|
241,508,048
|
|
Investments in subsidiaries and associates (Note 13)
|
|
|
4,148,795
|
|
|
|
3,779,169
|
|
Investment properties (Note 14)
|
|
|
350,235
|
|
|
|
348,393
|
|
Premises and equipment (Note 15)
|
|
|
2,374,590
|
|
|
|
2,342,280
|
|
Intangible assets (Note 16)
|
|
|
303,325
|
|
|
|
242,230
|
|
Assets held for sale (Note 17)
|
|
|
46,183
|
|
|
|
2,342
|
|
Deferred tax assets (Note 42)
|
|
|
238,543
|
|
|
|
162,211
|
|
Derivative assets (Notes 4,11, 12 and 26)
|
|
|
59,272
|
|
|
|
140,577
|
|
Net defined benefit assets (Note 24)
|
|
|
|
|
|
|
70,938
|
|
Other assets (Notes 19 and 45)
|
|
|
117,889
|
|
|
|
96,926
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
|
296,737,571
|
|
|
|
290,772,143
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
|
Financial liabilities at fair value through profit or loss
(Notes 4, 11, 12, 20 and 26)
|
|
|
3,416,978
|
|
|
|
3,793,479
|
|
Deposits due to customers (Notes 4, 11, 21 and 45)
|
|
|
224,384,156
|
|
|
|
211,382,380
|
|
Borrowings (Notes 4, 11, 12, 22 and 45)
|
|
|
13,662,984
|
|
|
|
16,060,821
|
|
Debentures (Notes 4, 11 and 22)
|
|
|
21,707,466
|
|
|
|
18,166,057
|
|
Provisions (Notes 23, 44 and 45)
|
|
|
368,027
|
|
|
|
380,473
|
|
Net defined benefit liabilities (Note 24)
|
|
|
14,284
|
|
|
|
|
|
Current tax liabilities (Note 42)
|
|
|
212,376
|
|
|
|
148,672
|
|
Derivative liabilities (Notes 4, 11,12 and 26)
|
|
|
12,103
|
|
|
|
7,221
|
|
Other financial liabilities (Notes 4, 11, 12, 25 and 45)
|
|
|
13,029,421
|
|
|
|
20,827,284
|
|
Other liabilities (Notes 25 and 45)
|
|
|
135,686
|
|
|
|
153,238
|
|
|
|
|
|
|
|
|
|
|
Total liabilities
|
|
|
276,943,481
|
|
|
|
270,919,625
|
|
|
|
|
|
|
|
|
|
|
(Continued)
WOORI BANK
SEPARATE STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2017 AND DECEMBER 31, 2016 (CONTINUED)
|
|
|
|
|
|
|
|
|
|
|
December 31,
2017
|
|
|
December 31,
2016
|
|
|
|
(Korean Won in millions)
|
|
EQUITY
|
|
|
|
|
|
|
Capital stock (Note 28)
|
|
|
3,381,392
|
|
|
|
3,381,392
|
|
Hybrid securities (Note 29)
|
|
|
3,017,888
|
|
|
|
3,574,896
|
|
Capital surplus (Note 28)
|
|
|
269,533
|
|
|
|
269,533
|
|
Other equity (Note 30)
|
|
|
(135,282
|
)
|
|
|
138,542
|
|
Retained earnings (Notes 31 and 32)
|
|
|
|
|
|
|
|
|
(Regulatory reserve for credit loss as of December 31, 2017 and December 31, 2016 is
2,017,342 million Won and 1,880,447 million Won, respectively.
Regulatory reserve for credit loss to be
reserved as of December 31, 2017 and December 31, 2016 is 74,379 million Won and 136,895 million Won, respectively.
Planned provision of regulatory reserve for credit loss as of December 31, 2017 and December 31, 2016 is
74,379 million Won and 136,895 million Won, respectively.)
|
|
|
|
|
|
|
|
|
|
|
|
13,260,559
|
|
|
|
12,488,155
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
19,794,090
|
|
|
|
19,852,518
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and equity
|
|
|
296,737,571
|
|
|
|
290,772,143
|
|
|
|
|
|
|
|
|
|
|
WOORI BANK
SEPARATE STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
2016
|
|
|
|
(Korean Won in millions,
except for per share data)
|
|
Interest income
|
|
|
7,385,721
|
|
|
|
7,376,713
|
|
Interest expense
|
|
|
(2,995,118
|
)
|
|
|
(3,154,266
|
)
|
|
|
|
|
|
|
|
|
|
Net interest income
(Notes 34 and 45)
|
|
|
4,390,603
|
|
|
|
4,222,447
|
|
Fees and commissions income
|
|
|
1,072,838
|
|
|
|
989,806
|
|
Fees and commissions expense
|
|
|
(141,817
|
)
|
|
|
(146,923
|
)
|
|
|
|
|
|
|
|
|
|
Net fees and commissions income
(Notes 35 and 45)
|
|
|
931,021
|
|
|
|
842,883
|
|
Dividend income (Notes 36 and 45)
|
|
|
125,599
|
|
|
|
220,015
|
|
Net gain on financial instruments at fair value through profit or loss (Note 37)
|
|
|
(96,983
|
)
|
|
|
97,225
|
|
Net loss on
available-for-sale
financial assets (Note 38)
|
|
|
135,003
|
|
|
|
35,525
|
|
Impairment losses due to credit loss (Notes 39 and 45)
|
|
|
(553,204
|
)
|
|
|
(640,443
|
)
|
General and administrative expenses (Notes 40 and 45)
|
|
|
(3,128,725
|
)
|
|
|
(3,115,371
|
)
|
Other net operating expenses (Notes 40 and 45)
|
|
|
(12,756
|
)
|
|
|
(391,780
|
)
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
|
1,790,558
|
|
|
|
1,270,501
|
|
|
|
|
Share of losses of subsidiaries and associates (Note 13)
|
|
|
(133,948
|
)
|
|
|
(13,970
|
)
|
Net other
non-operating
income
|
|
|
(36,388
|
)
|
|
|
54,114
|
|
|
|
|
|
|
|
|
|
|
Non-operating
income
(Note 41)
|
|
|
(170,336
|
)
|
|
|
40,144
|
|
|
|
|
Net income before income tax expense
|
|
|
1,620,222
|
|
|
|
1,310,645
|
|
|
|
|
|
|
|
|
|
|
Income tax expense (Note 42)
|
|
|
(344,110
|
)
|
|
|
(245,043
|
)
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
|
|
|
|
|
|
(Net income after the provision of regulatory reserve for credit loss for the years ended
December 31, 2017 and 2016 are 1,201,733 million Won and 928,707 million Won, respectively) (Note 32)
|
|
|
1,276,112
|
|
|
|
1,065,602
|
|
|
|
|
|
|
|
|
|
|
Remeasurement of the net defined benefit liability
|
|
|
16,566
|
|
|
|
33,191
|
|
|
|
|
|
|
|
|
|
|
Items that will not be reclassified to profit or loss
|
|
|
16,566
|
|
|
|
33,191
|
|
|
|
|
Gain (loss) on valuation of
available-for-sale
financial assets
|
|
|
(48,139
|
)
|
|
|
(10,026
|
)
|
Gain on foreign currencies translation of foreign operations
|
|
|
(34,093
|
)
|
|
|
9,361
|
|
|
|
|
|
|
|
|
|
|
Items that may be reclassified to profit or loss
|
|
|
(82,232
|
)
|
|
|
(665
|
)
|
|
|
|
Other comprehensive income (loss), net of tax
|
|
|
(65,666
|
)
|
|
|
32,526
|
|
Total comprehensive income
|
|
|
1,210,446
|
|
|
|
1,098,128
|
|
|
|
|
|
|
|
|
|
|
Net income per share (Note 43)
|
|
|
|
|
|
|
|
|
Basic and diluted earnings per common share (in Korean Won)
|
|
|
1,648
|
|
|
|
1,277
|
|
WOORI BANK
SEPARATE STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
stock
|
|
|
Hybrid
securities
|
|
|
Capital
surplus
|
|
|
Other
equity
|
|
|
Retained
earnings
|
|
|
Total
|
|
|
|
(Korean Won in millions)
|
|
January 1, 2016
|
|
|
3,381,392
|
|
|
|
3,334,002
|
|
|
|
269,533
|
|
|
|
106,016
|
|
|
|
11,798,375
|
|
|
|
18,889,318
|
|
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,065,602
|
|
|
|
1,065,602
|
|
Dividends on common stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(168,317
|
)
|
|
|
(168,317
|
)
|
Loss on valuation of
available-for-sale
financial assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(10,026
|
)
|
|
|
|
|
|
|
(10,026
|
)
|
Gain on foreign currency translation of foreign operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,361
|
|
|
|
|
|
|
|
9,361
|
|
Remeasurement of the net defined benefit liability
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
33,191
|
|
|
|
|
|
|
|
33,191
|
|
Dividends to hybrid securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(206,515
|
)
|
|
|
(206,515
|
)
|
Issuance of hybrid securities
|
|
|
|
|
|
|
549,904
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
549,904
|
|
Redemption of hybrid securities
|
|
|
|
|
|
|
(309,010
|
)
|
|
|
|
|
|
|
|
|
|
|
(990
|
)
|
|
|
(310,000
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016
|
|
|
3,381,392
|
|
|
|
3,574,896
|
|
|
|
269,533
|
|
|
|
138,542
|
|
|
|
12,488,155
|
|
|
|
19,852,518
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 1, 2017
|
|
|
3,381,392
|
|
|
|
3,574,896
|
|
|
|
269,533
|
|
|
|
138,542
|
|
|
|
12,488,155
|
|
|
|
19,852,518
|
|
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,276,112
|
|
|
|
1,276,112
|
|
Dividends on common stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(336,636
|
)
|
|
|
(336,636
|
)
|
Loss on valuation of
available-for-sale
financial assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(48,139
|
)
|
|
|
|
|
|
|
(48,139
|
)
|
Loss on foreign currency translation of foreign operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(34,093
|
)
|
|
|
|
|
|
|
(34,093
|
)
|
Remeasurement gain related to defined benefit plan
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,566
|
|
|
|
|
|
|
|
16,566
|
|
Dividends to hybrid securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(167,072
|
)
|
|
|
(167,072
|
)
|
Issuance of hybrid securities
|
|
|
|
|
|
|
559,565
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
559,565
|
|
Redemption of hybrid securities
|
|
|
|
|
|
|
(1,116,573
|
)
|
|
|
|
|
|
|
(208,158
|
)
|
|
|
|
|
|
|
(1,324,731
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2017
|
|
|
3,381,392
|
|
|
|
3,017,888
|
|
|
|
269,533
|
|
|
|
(135,282
|
)
|
|
|
13,260,559
|
|
|
|
19,794,090
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WOORI BANK
SEPARATE STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
2016
|
|
|
|
(Korean Won in millions)
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
Net income
|
|
|
1,276,112
|
|
|
|
1,065,602
|
|
Adjustment to net income:
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
|
344,110
|
|
|
|
245,043
|
|
Interest income
|
|
|
(7,385,721
|
)
|
|
|
(7,376,713
|
)
|
Interest expense
|
|
|
2,995,118
|
|
|
|
3,154,266
|
|
Dividend income
|
|
|
(159,603
|
)
|
|
|
(264,586
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
(4,206,096
|
)
|
|
|
(4,241,990
|
)
|
|
|
|
|
|
|
|
|
|
Additions of expenses not involving cash outflows:
|
|
|
|
|
|
|
|
|
Impairment losses due to credit loss
|
|
|
553,204
|
|
|
|
640,443
|
|
Loss on valuation of financial instruments at fair value through profit or loss
|
|
|
6,596
|
|
|
|
|
|
Share of losses of investments in subsidiaries
and associates
|
|
|
133,948
|
|
|
|
13,970
|
|
Loss on transaction of derivatives / valuation of derivatives
|
|
|
52,959
|
|
|
|
98,962
|
|
Loss on fair value hedged items
|
|
|
|
|
|
|
475
|
|
Provision for guarantee and loan commitment
|
|
|
51,510
|
|
|
|
19,238
|
|
Retirement benefits
|
|
|
131,334
|
|
|
|
141,581
|
|
Depreciation and amortization
|
|
|
165,095
|
|
|
|
171,522
|
|
Loss on disposal of premises and equipment and other assets
|
|
|
1,714
|
|
|
|
9,563
|
|
Impairment loss on premises and equipment and other assets
|
|
|
184
|
|
|
|
279
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,096,544
|
|
|
|
1,096,033
|
|
|
|
|
|
|
|
|
|
|
Deductions of revenues not involving cash inflows:
|
|
|
|
|
|
|
|
|
Gain on valuation of financial instruments at fair value through profit or loss
|
|
|
|
|
|
|
71,226
|
|
Gain on
available-for-sale
financial assets
|
|
|
135,003
|
|
|
|
35,525
|
|
Gain on transaction of derivatives / valuation of derivatives (hedging)
|
|
|
|
|
|
|
130
|
|
Gain on fair value hedged items (Fair value hedge)
|
|
|
53,532
|
|
|
|
99,302
|
|
Reversal of provisions
|
|
|
2,357
|
|
|
|
1,395
|
|
Gain on disposal of investment in subsidiaries and associates
|
|
|
9,256
|
|
|
|
3,679
|
|
Gain on disposal of premises and equipment and other assets
|
|
|
12,950
|
|
|
|
1,712
|
|
Reversal of impairment loss on premises and equipment and other assets
|
|
|
141
|
|
|
|
630
|
|
|
|
|
|
|
|
|
|
|
|
|
|
213,239
|
|
|
|
213,599
|
|
|
|
|
|
|
|
|
|
|
(Continued)
WOORI BANK
SEPARATE STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016 (CONTINUED)
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
2016
|
|
|
|
(Korean Won in millions)
|
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
|
|
Financial instruments at fair value through profit or loss
|
|
|
(439,949
|
)
|
|
|
(90,722
|
)
|
Loans and receivables
|
|
|
(8,192,223
|
)
|
|
|
(11,014,137
|
)
|
Other assets
|
|
|
(21,665
|
)
|
|
|
12,914
|
|
Deposits due to customers
|
|
|
13,005,112
|
|
|
|
10,029,252
|
|
Provision
|
|
|
4,788
|
|
|
|
(72,130
|
)
|
Net defined benefit liability
|
|
|
(34,946
|
)
|
|
|
(214,451
|
)
|
Other financial liabilities
|
|
|
(7,675,726
|
)
|
|
|
4,863,280
|
|
Other liabilities
|
|
|
(28,404
|
)
|
|
|
(7,136
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
(3,383,013
|
)
|
|
|
3,506,870
|
|
|
|
|
|
|
|
|
|
|
Cash received from (paid for) operating activities:
|
|
|
|
|
|
|
|
|
Interest income received
|
|
|
7,389,513
|
|
|
|
7,380,611
|
|
Interest expense paid
|
|
|
(3,013,602
|
)
|
|
|
(3,269,267
|
)
|
Dividend received
|
|
|
153,401
|
|
|
|
262,410
|
|
Income tax paid
|
|
|
(343,529
|
)
|
|
|
(173,788
|
)
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
(1,243,909
|
)
|
|
|
5,412,882
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
Cash
in-flows
from investing activities:
|
|
|
|
|
|
|
|
|
Disposal of
available-for-sale
financial assets
|
|
|
23,119,666
|
|
|
|
20,060,795
|
|
Redemption of
held-to-maturity
financial assets
|
|
|
8,506,982
|
|
|
|
8,462,346
|
|
Disposal of investments in subsidiaries and associates
|
|
|
26,078
|
|
|
|
73,293
|
|
Disposal of premises and equipment
|
|
|
7,238
|
|
|
|
50
|
|
Disposal of intangible assets
|
|
|
383
|
|
|
|
1,077
|
|
Disposal of assets held for sale
|
|
|
21,681
|
|
|
|
22,723
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31,682,028
|
|
|
|
28,620,284
|
|
|
|
|
|
|
|
|
|
|
Cash
out-flows
from investing activities:
|
|
|
|
|
|
|
|
|
Acquisition of
available-for-sale
financial assets
|
|
|
19,287,548
|
|
|
|
22,141,241
|
|
Acquisition of
held-to-maturity
financial assets
|
|
|
11,477,669
|
|
|
|
8,794,579
|
|
Acquisition of investments in subsidiaries and associates
|
|
|
522,906
|
|
|
|
270,356
|
|
Acquisition of investment properties
|
|
|
3,029
|
|
|
|
718
|
|
Acquisition of premises and equipment
|
|
|
134,271
|
|
|
|
107,097
|
|
Acquisition of intangible assets
|
|
|
172,121
|
|
|
|
159,528
|
|
Cash
out-flow
related to derivatives for risk
hedge
|
|
|
13,742
|
|
|
|
42,544
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31,611,286
|
|
|
|
31,516,063
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities
|
|
|
70,742
|
|
|
|
(2,895,779
|
)
|
|
|
|
|
|
|
|
|
|
(Continued)
WOORI BANK
SEPARATE STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016 (CONTINUED)
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
2016
|
|
|
|
(Korean Won in millions)
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
Cash
in-flows
from financing activities:
|
|
|
|
|
|
|
|
|
Increase in borrowings
|
|
|
8,529,590
|
|
|
|
6,502,596
|
|
Issuance of debentures
|
|
|
8,669,476
|
|
|
|
6,068,723
|
|
Issuance of hybrid securities
|
|
|
559,565
|
|
|
|
549,904
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,758,631
|
|
|
|
13,121,223
|
|
|
|
|
|
|
|
|
|
|
Cash
out-flows
from financing activities:
|
|
|
|
|
|
|
|
|
Repayment of borrowings
|
|
|
10,475,855
|
|
|
|
9,203,565
|
|
Repayment of debentures
|
|
|
4,680,520
|
|
|
|
5,100,720
|
|
Dividends paid
|
|
|
336,636
|
|
|
|
168,317
|
|
Redemption of hybrid securities
|
|
|
1,323,400
|
|
|
|
310,000
|
|
Dividends paid on hybrid securities
|
|
|
177,730
|
|
|
|
201,328
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,994,141
|
|
|
|
14,983,930
|
|
|
|
|
|
|
|
|
|
|
Net cash used in financing activities
|
|
|
764,490
|
|
|
|
(1,862,707
|
)
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash equivalents
|
|
|
(408,677
|
)
|
|
|
654,396
|
|
|
|
|
Cash and cash equivalents, beginning of the period
|
|
|
6,104,029
|
|
|
|
5,440,326
|
|
|
|
|
Effects of exchange rate changes on cash and cash equivalents
|
|
|
(366,392
|
)
|
|
|
9,307
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents, end of the period
|
|
|
5,328,960
|
|
|
|
6,104,029
|
|
|
|
|
|
|
|
|
|
|
Statements of appropriations of retained earnings (plan) are as follows
(Unit: Korean Won in millions):
(1)
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
|
2016
|
|
Unappropriated retained earnings:
|
|
|
|
|
|
|
|
|
Beginning of year
|
|
|
213
|
|
|
|
111
|
|
Net income
|
|
|
1,276,112
|
|
|
|
1,065,602
|
|
Interim dividend
|
|
|
(67,328
|
)
|
|
|
|
|
Dividend on/repayment of hybrid equity securities
|
|
|
(167,072
|
)
|
|
|
(207,505
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
1,041,925
|
|
|
|
858,208
|
|
|
|
|
|
|
|
|
|
|
Transfer from retained earnings:
|
|
|
|
|
|
|
|
|
Provision of revaluation excess
|
|
|
36,105
|
|
|
|
1,944
|
|
Reserves for research and personnel development
|
|
|
11,700
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
47,805
|
|
|
|
1,944
|
|
|
|
|
|
|
|
|
|
|
Appropriation of retained earnings:
|
|
|
|
|
|
|
|
|
Legal reserve
|
|
|
128,000
|
|
|
|
107,000
|
|
Regulatory reserve for credit loss
|
|
|
74,379
|
|
|
|
136,895
|
|
Other reserve
|
|
|
715
|
|
|
|
1,036
|
|
Amortization of loss of repayment of hybrid equity securities
|
|
|
208,158
|
|
|
|
|
|
Cash dividend (Dividend per share (%))
2017: 500 Won (10.0%),
2016: 400 Won (8.0%)
|
|
|
336,636
|
|
|
|
269,308
|
|
Additional reserve
|
|
|
341,000
|
|
|
|
345,700
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,088,888
|
|
|
|
859,939
|
|
|
|
|
|
|
|
|
|
|
Unappropriated retained earnings to be carried forward to next year
|
|
|
842
|
|
|
|
213
|
|
|
|
|
|
|
|
|
|
|
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 Bank
|
|
|
|
|
(Registrant)
|
|
|
|
Date: March 5, 2018
|
|
|
|
By: /s/ Won Duk Lee
|
|
|
|
|
(Signature)
|
|
|
|
|
|
|
|
|
Name:
|
|
Won Duk Lee
|
|
|
|
|
Title:
|
|
Managing Director
|
Woori Financial (NYSE:WF)
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From Aug 2024 to Sep 2024
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