t, and foreign exchange transactions. It also develops new products to target different types of customers with respect to its Internet banking services, and has developed a service that enables private banking customers to access their accounts on a Website that provides specialized investment advice. The company also offers online escrow services. In addition, the company provides mobile banking services to its customers, which is available to all its Internet-registered users. These services allow its customers to complete selected banking transactions through major Korean telecommunications networks using their cellular phones or other mobile devices. The company offers new ‘smart banking’ services, which enable users of so-called ‘smart phones’ to access a range of banking and credit card services through their mobile phones. The electronic bill presentation and payment system offered by Woori Bank provides customers with the ability to pay taxes, maintenance fees and other public fees electronically. The company also offers its ‘Win-CMS’ service to corporate customers of Woori Bank, which provides an integrated electronic cash management system and in-house banking platform for such customers. Credit Cards The company offers credit card products and services primarily to consumers and corporate customers in Korea. Products and Services The company has the following principal brands of credit cards outstanding, including a ‘Woori’ brand offered by Woori Card; a ‘BC Card’ brand offered by Woori Card; and a ‘Visa’ brand offered by Woori Card. The company issues ‘Visa’ brand cards under a non-exclusive license agreement with Visa International Service Association and also issue ‘MasterCard’ and ‘JCB’ brand cards under a non-exclusive, co-branding agreement with BC Card. The company offers various services to holders of its credit cards. These services include credit purchase services, which allow cardholders to purchase merchandise or services on credit and repay such credit on a lump-sum or installment basis; cash advance services from ATMs and bank branches; and credit card loans, which are loans that cardholders could obtain based on streamlined application procedures. The company offers a range of credit card products within its various brands. Targeted products that the company offers include cards that offer additional benefits, such as frequent flyer miles and award program points that could be redeemed for services, products or cash; gold cards, platinum cards and other preferential members’ cards that have higher credit limits and provide additional services; corporate and affinity cards that are issued to employees or members of particular companies or organizations; and revolving credit cards and cards that offer travel services and insurance. Payments and Charges Revenues from the company’s credit card operations consist principally of cash advance charges, merchant fees, interest income from credit card loans, interest on late and deferred payments, and annual membership fees paid by cardholders. Capital Markets Activities The company is engaged in the capital markets activities for its own account and for its customers. The company’s capital markets activities include securities investment and trading, derivatives trading, asset securitization services, and investment banking. Securities Investment and Trading The company, through Woori Bank, invests in and trades securities for its own account, to maintain adequate sources of liquidity and to generate interest and dividend income and capital gains. The company’s trading and investment portfolios consist primarily of Korean treasury securities and debt securities issued by Korean government agencies, including the Korea Deposit Insurance Corporation, local governments or government-invested enterprises, and debt securities issued by financial institutions. From time to time, the company also purchases and sells equity securities for its securities portfolios. Derivatives Trading The company offers derivatives products and is engaged in derivatives trading, primarily for its corporate customers, primarily thro
woori bank - spon adr
(WF:New York Consolidated)
Phone: 82 2 2002 3000
|No competitor information is available for WF.|
|View Industry Companies|
Sponsored Financial Commentaries
To contact WOORI BANK - SPON ADR, please visit www.wooribank.com. Company data is provided by Capital IQ. Please use this form to report any data issues.