Report title: Woori Bank
from Moody's Global Credit Research
19 page (7950 word) report published Nov 03, 2009

Price $300.00 available for immediate download
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...Moody's assigns a bank financial strength rating (BFSR) of C- to Woori Bank (Woori) which translates into a baseline credit assessment (BCA) of Baa2. The rating is underpinned by the bank's progress in establishing a strong presence in the small and medium-sized enterprise (SME) and household markets. The broadening of its franchise is helping secure its market position and entrenching its systemic importance as the second largest bank in Korea's financial system. Similar to other Korean banks, Woori's BFSR incorporates anticipated deterioration in the bank's creditworthiness due to the intense stresses from the current crisis, both globally and domestically. On balance, the bank ¡ like its competitors - has had to contend with more numerous and severe strains on its operating performance than peers in other Asian banking systems. Therefore, Moody's believes that Woori's weakened financial position, as with other Korean banks, makes it more vulnerable to the effects of a protracted recession....

Report Type: Analysis
Issuer: Woori Bank
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