Enhanced Investments - Financial Portal

Published: 2023-10-26 06:04:26 ET

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6-K 1 d547654d6k.htm FORM 6-K Form 6-K

UNITED STATES

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 October 2023

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 ☐

Woori Financial Group’s Preliminary Financial Performance Figures

for the Third Quarter of 2023

The preliminary financial performance figures for Woori Financial Group for the nine-month period ended on September 30, 2023, on a consolidated basis, are as follows.

(Units: millions of KRW, %)


Item		3Q 2023		2Q 2023		% Change Increase (Decrease)			3Q 2022		% Change Increase (Decrease)
Revenue*	Specified Quarter		9,885,945		10,842,271		(8.82	)		20,442,012		(51.64	)
Revenue*	Cumulative Basis		33,282,756		23,396,811		—			43,156,957		(22.88	)
Operating Income	Specified Quarter		1,223,455		895,438		36.63			1,270,552		(3.71	)
Operating Income	Cumulative Basis		3,370,893		2,147,438		—			3,702,665		(8.96	)
Income before	Specified Quarter		1,246,937		878,212		41.99			1,288,208		(3.20	)
Income Tax Expense	Cumulative Basis		3,395,470		2,148,533		—			3,756,119		(9.60	)
Net Income	Specified Quarter		918,220		667,190		37.62			933,385		(1.62	)
Net Income	Cumulative Basis		2,532,032		1,613,812		—			2,792,689		(9.33	)
Profit to the Equity Holders of the Parent Entity	Specified Quarter		899,409		625,190		43.86			899,811		(0.04	)
Profit to the Equity Holders of the Parent Entity	Cumulative Basis		2,438,285		1,538,876		—			2,661,745		(8.40	)

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 Third Quarter of 2023

The preliminary financial performance figures for Woori Bank, a wholly-owned subsidiary of Woori Financial Group, for the nine-month period ended on September 30, 2023, on a consolidated basis, are as follows.

(Units: millions of KRW, %)


Item		3Q 2023		2Q 2023		% Change Increase (Decrease)			3Q 2022		% Change Increase (Decrease)
Revenue*	Specified Quarter		8,815,613		9,783,362		(9.89	)		19,396,423		(54.55	)
Revenue*	Cumulative Basis		30,066,989		21,251,376		—			40,280,392		(25.36	)
Operating Income	Specified Quarter		1,086,742		815,341		33.29			1,107,783		(1.90	)
Operating Income	Cumulative Basis		3,043,487		1,956,745		—			3,092,172		(1.57	)
Income before	Specified Quarter		1,112,305		795,478		39.83			1,128,792		(1.46	)
Income Tax Expense	Cumulative Basis		3,063,454		1,951,149		—			3,169,012		(3.33	)
Net Income	Specified Quarter		820,111		612,768		33.84			823,034		(0.36	)
Net Income	Cumulative Basis		2,298,012		1,477,901		—			2,381,821		(3.52	)
Profit to the Equity Holders of the Parent Entity	Specified Quarter		817,801		610,260		34.01			819,075		(0.16	)
Profit to the Equity Holders of the Parent Entity	Cumulative Basis		2,289,774		1,471,973		—			2,373,541		(3.53	)

*	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: October 26, 2023	By:	/s/ Sung-Wook Lee
		(Signature)
	Name:	Sung-Wook Lee
	Title:	Deputy President

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.