(LEAD) Woori Financial Q3 net falls 16 pct on one-time factor

Woori Financial Group Inc. reported a decline in its net profit for the third quarter, attributed to a one-time factor. The company's net profit for the July-September period reached 1.04 trillion won, a 15.7 percent decrease compared to the same period last year. Despite the decline, the earnings exceeded market expectations, with analysts forecasting an average net profit of 963.4 billion won.

In the first nine months of the year, Woori Financial Group's net profit amounted to 2.66 trillion won, marking a 4.9 percent year-on-year decline. The operating profit for the quarter was 1.41 trillion won, up 43.6 percent from the previous year. Revenue increased by 66.2 percent to 13.3 trillion won during the same period.

Interest income rose by 1.7 percent on-year to 2.37 trillion won, while non-interest income decreased by 7.6 percent on-year to 581 billion won. The flagship Woori Bank reported a net profit of 1.02 trillion won in the third quarter, a significant increase from 736 billion won in the same period last year.