Woori Bank CEO Lee Says Profit Will Rise to 1.8 Trillion Won Next Year

Woori Bank, a unit of Woori Finance Holdings Co., aims for a net profit of 1.8 trillion won ($1.6 billion) next year, rising from an estimate of about 1.2 trillion won for this year, as the company projects lower bad- loan provisions in 2011, according to the lender’s chief executive officer Lee Chong Hwi. Woori Bank spokesman Jung Hee Kyung confirmed the CEO’s remarks, which were earlier reported by Yonhap News.

To contact the reporter on this story: Seonjin Cha in Seoul at scha2@bloomberg.net

To contact the editor responsible for this story: Brett Miller at bmiller30@bloomberg.net

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