its and awards. The company has 625 branches that offer private banking services. These branches are staffed by 635 private bankers, and almost all of the branches are located in metropolitan areas, including Seoul. The company also operates an advisory center in Seoul for its private banking clients, which employs 20 specialists advising on matters of law, tax, real estate, risk assessment and investments. Deposit-Taking Activities The company offers diversified deposit products that target different customers with different needs and characteristics. These deposit products fall into five general categories, such as demand deposits, which either do not accrue interest or accrue interest at a lower rate than time, installment or savings deposits; time deposits, which generally require a customer to maintain a deposit for a fixed term during which interest accrues at a fixed or floating rate; savings deposits, which allow the customer to deposit and withdraw funds at any time and accrue interest at a fixed rate set by the company depending upon the period and amount of deposit; installment deposits, which generally require the customer to make periodic deposits of a fixed amount over a fixed term during which interest accrues at a fixed rate; and certificates of deposit, the maturities of which range from 30 days to 5 years, with a required minimum deposit of ?10 million. The company offers varying interest rates on its deposit products depending on market interest rates as reflected in average funding costs, the rate of return on its interest-earning assets and the interest rates offered by other commercial banks. The company also offers deposits in foreign currencies and a specialized deposit product, the apartment application comprehensive deposit, which is a monthly installment comprehensive savings program providing the holder with a preferential right to subscribe for new national housing units constructed under the Housing Act or new privately constructed housing units. Apartment application time deposits are special purpose time deposit accounts providing the holder with a preferential right to subscribe for new private apartment units under the Housing Act. These deposit products targeted high and middle income households. Apartment application installment savings deposits are monthly installment savings programs providing the holder with a preferential right to subscribe for new private apartment units under the Housing Act. Apartment application savings account deposits are monthly installment savings programs providing the holder with a preferential right to subscribe for new national housing units constructed under the Housing Act or mid-sized, privately constructed national housing units. These deposits are available only to heads of household who do not own a home. Branch Network and Other Distribution Channels The company had a total of 956 banking branches in Korea as of December 31, 2015. The company had 6,821 ATMs and 68 cash dispensers as of December 31, 2015. The company also actively promotes the use of alternative service delivery channels to provide convenient service to customers. Its automated telephone banking system offers various services, including inter-account fund transfers, balance and transaction inquiries and customer service inquiries. The company also operates a call center that handles calls from customers, engages in telemarketing and assists in its collection efforts. The company’s Internet banking services include balance and transaction inquiries, money transfers, loan applications, bill payment and foreign exchange transactions. The company seeks to maintain and increase its Internet banking customer base by focusing largely on its younger customers and those that are able to access the Internet (such as office workers), as well as by developing additional Internet-based financial services and products. The company also develops new products to target different types of customers with respect to its Internet banking services, and had developed a service that enables private banking customers to access their accounts on a Website that provide
woori bank - spon adr
(WF:New York Consolidated)
Phone: 82 2 2002 3000
The information and data displayed in this profile are created and managed by Capital IQ, a Standard & Poor's company. Bloomberg.com does not create or control the content.
|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.