Woori Bank Upgraded To 'A+' On Strengthened Risk Management; Outlook Stable

Woori Bank will likely maintain its strengthened risk management as evidenced by its improved asset quality and credit costs comparable with major domestic commercial bank peers. We also expect the bank and its parent group to maintain adequate capitalization despite the group's potential nonbanking business acquisition. We raised our long-term issuer credit ratings on Woori Bank and its core subsidiary WGMA to 'A+' from 'A'. At the same time, we affirmed our 'A-1' short-term issuer credit ratings on both entities. The stable outlook reflects our view that Woori Bank will maintain its adequate capital buffer and risk management over the next 18-24 months. HONG KONG (S&P Global Ratings) June 16, 2021--S&P Global Ratings today raised its long-term issuer credit ratings

...June 16, 2021 - Woori Bank will likely maintain its strengthened risk management as evidenced by its improved asset quality and credit costs comparable with major domestic commercial bank peers. - We also expect the bank and its parent group to maintain adequate capitalization despite the group's potential nonbanking business acquisition. - We raised our long-term issuer credit ratings on Woori Bank and its core subsidiary WGMA to 'A+' from 'A'. At the same time, we affirmed our 'A-1' short-term issuer credit ratings on both entities. - The stable outlook reflects our view that Woori Bank will maintain its adequate capital buffer and risk management over the next 18-24 months. HONG KONG (S&P Global Ratings) June 16, 2021--S&P Global Ratings today raised its long-term issuer credit ratings on Korea-Based Woori Bank and its Hong Kong-based subsidiary Woori Global Markets Asia Ltd. (WGMA) to 'A+' from 'A'. We affirmed the 'A-1' short-term issuer credit ratings on Woori Bank and WGMA. The outlook...

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