Woori Bank: Annual Report
2008 annual report
Forces that move us
contents
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06 Woori Bank in 110 Years 10 Financial Highlights 12 Message from the Ceo 16 Board of Directors operation review 20 Balancing uncertainty 26 inspiring Confidence 38 increasing Sustainability Financial review 50 Management’s Discussion & analysis 58 Financial Statements 140 organization Chart 142 Global network
Woori bank
the disruptions taking place in the financial industry are changing our outlook and revealing new opportunities in the global markets. Woori Bank has been a cornerstone of korea’s financial industry for 110 years. We have a deep understanding of the market, its risks and opportunities. even in times of uncertainty, we are equipped for sustainable growth.
Woor i Ba n k h as the cor e ca paBilities to create value For our sha reholders, customers, employ ees a nd the commu nities W e serv e.
Woori Way
04
Woori Way
Woori Bank was founded in 1899 as the first bank in Korea. We have served as a steadfast supporter of the nation’s development for 110 years, providing financial services to drive the creation of a modern industrial economy. Woori has been selected as “The Bank of the Year in South Korea” for the past two years by the prestigious financial journal “The Banker”, showcasing our leading role as the representative Korean bank in the global market. Underpinning our success is our home-grown vision, known as the “Woori Way”. The guiding principle for all our business activities, it stresses Customer, Challenge, Integrity and Professionalism as the keys to the Bank’s balanced growth and profitability. Following our vision, we will face and overcome the challenges posed by faltering economies at home and abroad, and be a force for recovery and revitalization. Woori Bank is a representative bank in Korea, and will be an iconic presence in the global market.
05
Forces that move us
Woori Bank 2008 annual report
challenge woori’s power With creativity and
Forces that move us
contents
•
06 Woori Bank in 110 Years 10 Financial Highlights 12 Message from the Ceo 16 Board of Directors operation review 20 Balancing uncertainty 26 inspiring Confidence 38 increasing Sustainability Financial review 50 Management’s Discussion & analysis 58 Financial Statements 140 organization Chart 142 Global network
Woori bank
the disruptions taking place in the financial industry are changing our outlook and revealing new opportunities in the global markets. Woori Bank has been a cornerstone of korea’s financial industry for 110 years. We have a deep understanding of the market, its risks and opportunities. even in times of uncertainty, we are equipped for sustainable growth.
Woor i Ba n k h as the cor e ca paBilities to create value For our sha reholders, customers, employ ees a nd the commu nities W e serv e.
Woori Way
04
Woori Way
Woori Bank was founded in 1899 as the first bank in Korea. We have served as a steadfast supporter of the nation’s development for 110 years, providing financial services to drive the creation of a modern industrial economy. Woori has been selected as “The Bank of the Year in South Korea” for the past two years by the prestigious financial journal “The Banker”, showcasing our leading role as the representative Korean bank in the global market. Underpinning our success is our home-grown vision, known as the “Woori Way”. The guiding principle for all our business activities, it stresses Customer, Challenge, Integrity and Professionalism as the keys to the Bank’s balanced growth and profitability. Following our vision, we will face and overcome the challenges posed by faltering economies at home and abroad, and be a force for recovery and revitalization. Woori Bank is a representative bank in Korea, and will be an iconic presence in the global market.
05
Forces that move us
Woori Bank 2008 annual report
challenge woori’s power With creativity and