Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) covers the period ending July 22, 2004. The report discloses tentative interim financial performance figures for Woori Bank, a wholly-owned subsidiary of the registrant, for the first half of 2004 (1H 2004).
Key Financial Metrics
The following key earnings figures for Woori Bank are reported in billions of Korean Won (KRW):
| Item | 1H 2004 | 1H 2003 | Change |
|---|---|---|---|
| Operating Revenue | 1,843 | 1,729 | +6.6% |
| Operating Income | 636 | 682 | -6.7% |
| Net Income | 591 | 815 | -27.5% |
The filing text does not provide specific values for cash flow, debt levels, liquidity ratios, or profit margins beyond the operating and net income figures listed above.
Material Changes
- Revenue Growth: Operating revenue increased by 6.6% year-over-year.
- Profit Decline: Despite revenue growth, Operating Income decreased by 6.7%, and Net Income fell significantly by 27.5% compared to the prior period.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future outlook, or specific risk factors. The document notes that the reported figures are tentative interim numbers and are subject to adjustment. No unusual items or contingencies are explicitly detailed in the provided text.
Investor Verification Checklist
- Verify the final audited figures for 1H 2004, as the current numbers are tentative and subject to adjustment.
- Investigate the specific drivers behind the 27.5% decline in Net Income despite a 6.6% increase in Operating Revenue.
- Confirm if the performance of Woori Bank is representative of the entire Woori Finance Holdings group or if other subsidiaries offset these results.