Woori said on November 1 that it earned 86.4 billion won in net profit for the third quarter, down 41.7 percent from 148.0 billion won from the previous quarter. This is 83.6 percent lower than the same period last year when its net profit was 526.0 billion won.

 

The third-quarter net profit of Woori Bank, the group's flagship unit, stopped short of 41.2 billion won, down 78.8 percent from 153.0 billion won in the second quarter. Stock analysts interpreted this as a move by the financial group to shake off bad debt and thereby make its books look better ahead of privatization.