WF - Woori Financial Group Inc. (WF) Q1 2025 Earnings Call Transcript
2025-04-25 14:12:09 ET
Woori Financial Group Inc. (WF)
Q1 2025 Results Conference Call
April 25, 2025 03:00 AM ET
Company Participants
Hong Sung Han - Head of Investor Relations
Lee Sung-Wook - Group Chief Financial Officer
Park Jang-Geun - Chief Revenue Officer
Conference Call Participants
Seol Yong Jin - SK Securities
Baek Doosan - Korea Investment & Securities
Jeong Tae Joon - Mirae Asset Securities
Kim Do Ha - Hanwha Investment & Securities
Park Hye-jin - Daishin Securities
Woo Do-hyung - Yuanta Securities
Won Jaewoong - HSBC
Presentation
Hong Sung Han
Good afternoon. I am Hong Sung Han, Head of IR at Woori Financial Group. Let me first begin by thanking everyone for taking time to participate in this earnings call for Woori Financial Group. On today's call, we have Group CFO, Lee Sung-Wook; Group CDO, Ouk Il Jin; and Group CRO, Park Jang-Geun. On today's call, the Group CFO, Lee Sung-Wook, will give a presentation on the earnings performance, after which we will have a Q&A session. Please note that the earnings call is being conducted with simultaneous interpretation for our overseas investors.
Now let us start our presentation on Woori Financial Group's earnings for the first quarter of 2025.
Lee Sung-Wook
Good afternoon. This is Lee Sung-Wook, the CFO of Woori Financial Group. Let me go over the first quarter performance for 2025. Please turn to Page 3 of the presentation material that has been disclosed on our website. First, let me talk about net income. In the first quarter of 2025, Woori Financial Group's net income was KRW 615.6 billion. Amid uncertainties in Korea and abroad, leading to volatility in the financial markets, we were still able to prove our solid revenue-generating capabilities on the top line. However, on the cost side, due to conservative provisioning due to concerns about future downturns in the economy and non-regular items such as costs related to the ERP conducted at the beginning of the year and investments for future growth resulted in net income coming in below market expectations....
Woori Financial Group Inc. (WF) Q1 2025 Earnings Call Transcript