Strong market position as one of the major banks in Korea. Well-balanced and diversified loan portfolio. Improving track record of managing credit risks. Fewer cross-selling opportunities due to weaker nonbank financial affiliates than other major commercial banking groups. Moderate profitability by international standards. Potential pressure on asset quality from high household leverage in Korea. The positive outlook on Woori Bank reflects our view that the Korea-based bank will likely maintain its improved risk management, such that its asset quality and credit costs remain comparable with that of major domestic commercial bank peers, over the next 18-24 months. At the same time, the outlook also reflects our view that the bank will likely maintain their adequate capitalization despite some pressure on
