Seol Yong Jin's questions to Woori Financial Group Inc (WF) leadership • Q1 2024
Question
Seol Yong Jin from SK Securities Co., Ltd. questioned the group's credit cost of approximately 40 basis points, asking if this represents a new normalized level and what the full-year management target is for this metric.
Answer
CRO Park Jang-Geun clarified that there were no one-off factors in Q1's credit cost. While a few large, collateral-backed delinquencies occurred, they are not expected to be a drag on overall costs. He expressed confidence that the group can manage the full-year credit cost at or below the current 40 basis point level.