Woori Bank engages in a range of businesses, including commercial banking, credit cards, capital markets activities, international banking, asset management, and bancassurance. The company provides a range of products and services to its customers, which primarily comprise individuals and small- and medium-sized enterprises, as well as some of Korea’s major corporations. Corporate Banking The company provides commercial banking services to large corporate customers (including government-owned enterprises) and small- and medium-sized enterprises in Korea. Its corporate banking operations consist primarily of lending to and taking deposits from its corporate customers. The company also provides ancillary services on a fee basis, such as inter-account transfers, transfers of funds from branches and agencies of a company to its headquarters and transfers of funds from a company’s customer accounts to the company’s main account. It provides its corporate banking services primarily through Woori Bank. Corporate loans that the company provides consist principally of working capital loans, which are loans used for general working capital purposes, with a maturity of one year or less, including notes discounted and trade finance; and facilities loans, which are loans to finance the purchase of materials, equipment and facilities, with a maturity of three years or more. On the deposit-taking side, the company offers its corporate customers various types of corporate deposit products. These products could be divided into two general categories, such as demand deposits that have no restrictions on deposits or withdrawals, and which offer a relatively low interest rate; and time deposits from which withdrawals are restricted for a period of time, and offer higher interest rates. The company also offers installment deposits, certificates of deposit, and repurchase instruments. It offers varying interest rates on its deposit products depending upon the rate of return on its income-earning assets, average funding costs and interest rates offered by other nationwide commercial banks. Small- and Medium-Sized Enterprise Banking The company services its small- and medium-sized enterprise customers primarily through Woori Bank’s (the company’s subsidiary) network of branches and small- and medium-sized enterprise relationship managers. The company has also developed in-house industry specialists who could help the company identify major small- and medium-sized enterprises in, and develop products and marketing strategies for, these targeted industries. In addition, it operates customer loyalty programs at Woori Bank for its various small- and medium-sized enterprise customers and provides them with benefits and services, such as preferential rates, free seminars and workshops and complementary invitations to cultural events. Lending Activities: The company provides both working capital loans and facilities loans to its small- and medium-sized enterprise customers. As of December 31, 2013, it had approximately 185,245 small- and medium-sized enterprise borrowers. Large Corporate Banking The company’s large corporate customers consist of companies that are not ‘small- and medium-size enterprises’ as defined in the Small and Medium Industry Basic Act of Korea and related regulations. The company services its large corporate customers primarily through Woori Bank’s network of corporate banking centers and general managers. Lending Activities: The company provides both working capital loans and facilities loans to its large corporate customers. Consumer Banking The company provides retail banking services to consumers in Korea. Its consumer banking operations consist primarily of lending to and taking deposits from its retail customers. The company also provides ancillary services on a fee basis, such as wire transfers. It provides its consumer banking services primarily through Woori Bank. Woori Bank classifies its consumer banking customers based on their individual net worth and contribution to the company’s consumer banking operations into four groups, such as high net worth, mass affluent, middle class,
woori bank - spon adr (WF:New York)
Phone: 82 2 2002 3000
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